Cassiar Gold Files New NI43-101 Technical Report on the Cassiar Gold Property

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Calgary, Alberta--(Newsfile Corp. - May 11, 2022) - Cassiar Gold Corp. (TSXV: GLDC) (OTCQX: CGLCF) (the "Company") is pleased to announce the completion and filing of an independent National Instrument 43-101 technical report ("NI43-101 Report") on its 100% owned flagship Cassiar Gold Property ("Property") located in northern British Columbia, Canada. The technical report, with an effective date of April 28, 2022, titled "National Instrument 43-101 Technical Report on the Cassiar Gold Property," can be viewed on Cassiar Gold's website and has been filed under the Company's profile on SEDAR. The new technical report was completed by Scott Zelligan, P.Geo.; James Moors, P.Geo.; and Chantal Jolette, P.Geo., all of whom meet the requirements of independent qualified persons as described in National Instrument 43-101 and the companion Policy 43-101CP.

As announced in news on May 10, 2022, the NI43-101 Technical Report contains a new pit-constrained Mineral Resource Estimate ("MRE") for the Taurus Deposit of 37.9 million tonnes grading 1.14 g/t Au for 1.39 million ounces of gold in a pit constrained model using a 0.50 g/t Au cut off. There has been no change to the MRE and any other technical information since their initial announcement on May 10, 2022.

"I am grateful for the tremendous efforts made by our technical team and report authors to complete this new pit-constrained NI43-101-compliant technical report at the Taurus deposit in record time," stated Marco Roque, President and Chief Executive Officer of Cassiar Gold. "The results from our new MRE outlines an incredibly robust near-surface, open-pittable asset with tremendous infrastructure access. We are now excited to embark on a 20,000 m drill program across the Cassiar Gold Property that will include 10,000 m of drilling at the Taurus Deposit with a focus on expansionary step-out drilling to grow the resource as mineralization remains open laterally, at depth and within the pit shell."

Qualified Persons

Scott Zelligan, P.Geo., the independent qualified person for the NI43-101 Report and MRE presented in this press release, has approved the technical information in this press release.

About Cassiar Gold Corp.

Cassiar Gold Corp. is a Canadian gold exploration company holding a 100% interest in its flagship Cassiar Gold Property located in northern British Columbia, Canada. The Cassiar Gold property spans 590 km2 and consists of two main project areas: Cassiar North, which hosts an NI43-101-compliant inferred resource estimate of 1.4Moz at 1.14 g/t Au (cut-off grade of 0.50 g/t) known as the as the Taurus Deposit (National Instrument 43-101 Technical Report on the Cassiar Gold Property, dated April 28, 2022, by S. Zelligan, P.Geo.; J. Moors, P.Geo; C. Jolette, P.Geo); and Cassiar South which hosts numerous gold showings, historical workings, and exploration prospects. Historical underground mines in the Cassiar South area have yielded over 315,000 oz of Au at grades of between 10 and 20 g/t Au (BC Minfile), underscoring the high potential for further discovery and expansion of high-grade orogenic gold veins.

The Company also holds a 100% interest in the Sheep Creek gold camp located near Salmo, BC. The Sheep Creek gold district ranks as the third largest past-producing orogenic gold district in BC with historical gold production of 742,000 ounces gold at an average grade of 14.7 g/t gold from 1900 to 1951. Minimal exploration work has been conducted since the 1950s.

Cassiar Gold acknowledges, respects, and supports the rights of Traditional First Nations in the lands and communities where we operate.

CONTACT INFORMATION

Cassiar Gold Corp.
Shirley Anthony
VP Investor Relations & Communications
1-778-999-2771
[email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/123544

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