Dallas, TX - October 1, 2026 - Cassiar Gold Corp. (TSXV: GLDC):Â Stonegate Capital Partners updates their coverage on Cassiar Gold Corp. (TSXV: GLDC). Cassiar continues to advance Taurus toward its first formal economic evaluation while maintaining a district-scale exploration program across the broader Cassiar Gold Property. The Company engaged Ausenco to complete a PEA, launched a fully funded 10,000 m 2026 drill program, extended its exploration permit through March 2031, and entered into an Exploration Agreement with the Dease River First Nation. In our view, these developments improve visibility into the path toward project definition while preserving the core thesis around a 2.34 Moz near-surface Taurus resource and broader exploration upside. The strategy balances technical de-risking at Taurus with continued resource growth and higher-grade opportunities across Cassiar South and regional targets.
Technical and Economic Update: The Taurus PEA remains the most important near-term milestone and is expected in 2H26. The study will incorporate the June 2025 NI 43-101 resource, which includes 410 koz Indicated at 1.43 g/t Au and 1.93 Moz Inferred at 0.95 g/t Au, along with ongoing metallurgical work. We believe the PEA should provide the first meaningful framework for evaluating recovery, processing, mine scale, CapEx, operating costs, and potential project economics.
Exploration Program: Cassiar launched an initial 10,000m 2026 drill program focused primarily on Taurus, with additional work at Newcoast and other regional targets. As of September 17, approximately 7,400m across 31 holes had been completed at Cassiar North, with drilling continuing at Taurus and more than 2,000m planned for Newcoast. The current Taurus MRE incorporates 598 drill holes totaling approximately 65,700 m of sampled drilling and does not reflect the additional 7,308 m completed during the 2025 campaign, or the ongoing 2026 campaign. We believe upcoming assays provide near-term catalysts while the growing drill dataset creates additional opportunity for future resource definition and expansion.
Permitting and Community Engagement: Cassiar’s amended Multi-Year Area-Based Mines Act permit now extends through March 2031, supporting continued drilling, access, and geophysical work. The Company also entered an Exploration Agreement with the Dease River First Nation covering environmental stewardship, employment, and contracting opportunities.
Financial Position: Cassiar strengthened its balance sheet through warrant exercises and a C$5.53M flow-through financing completed in May. The Company subsequently reported C$9.8M of cash and deposits and characterized the 2026 field program as fully funded. We believe current liquidity supports the exploration program and PEA, while future development capital requirements remain undefined.
Capital Structure: Cassiar has approximately 161.5M basic shares outstanding following financing activity and warrant exercises. The added capital supports the current work program. Investor attention should center on the PEA, 2026 assay results, and post-program liquidity.
Valuation: We are using comparative analysis and a sensitivity analysis to help frame our valuation of Cassiar. We arrive at a valuation range of C$1.49 to C$1.65 per share, with a price target of C$1.57.
