Cassiar Gold Intersects Visible Gold and Extends Newcoast Trend

0:03 Hello everyone and thank you for tuning in to this live Cassie Aero event. Today I'm joined by Mark O'Rourke, President and CEO, to discuss last week's press release regarding the company's intersecting new quartz veining with visible Gold and the initiation of evaluating the mill refurbishment, tailings monetization and high-grade strategy. As this is a live event, we encourage you to submit questions in the chat box, which can be found in the bottom right corner of your screen. As always, this event is being recorded and will be available for replay shortly after we conclude.

0:32 Marco, congratulations on completing the 2025 drill program. Can you walk us through what these final results mean for Casio Gold and what most excites you about what the team discovered at New Coast? Hi Kyle, Thanks for having me. It's a pleasure to be here. It's another batch of great results by the team. We've released

0:58 11 drill holes, the balance of drill holes from last year's program. Once again we intercepted a goal in every single drill hole which is great. We intercepted broad zones of mineralization, bulk style. With some of the info we established good continuity with very significant step-outs. We continue to see broad intercepts of mineralization, long widths, several intercepts with very high-gram meters, several intercepts of 60, 80, up to 167 meters of bulk-furnished-style mineralization.

1:39 We also have several high-grade gold quartz veins that continue to push the envelopes of known mineralization at New Coast, the New Coast target, which where, by the way, we only had previously 9 drill holes, now we have 20 as an operator, and we continue to see even more the potential for another bulk style deposit similar to the Torres deposit, but with a very high footprint of mineralization, given what we see at surface, but also being confirmed what we see in the drill core from the drill holes underground as well.

2:22 The visible Gold Interceptor Hole 25 NC17 returned an exceptional 176.5g per ton over 0.3m. Can you explain the significance of discovering this new quartz vein structure and what it tells you about the exploration potential in previously untested areas? Yeah, we have a really sparsely drilled project. We actually see high-grade veins like this throughout the project, not just on the bulk energy areas, but also on the more discrete high-grade vein areas where we're seeing the ground mining in the past with grades between 10 and 20 grams per ton. So this is another of one of those style of veins that we intercepted.

3:15 There's a broader intercept within that hole running around 15.7 meters at 3.8 grams per ton, which is really great to see.

3:26 That provides the potential for that style of high-grade underground mining. It also provides the potential to coalescing around those lines of potential to continue to expand bulk-style mineralization. But as a reminder, the entirety of our resources, just a couple of kilometers north of this new coast targets, the entirety of the resources there. But we see, you know, and we found gold on over 15 kilometer trends. So we have a very sparsely drilled district. Most of it has actually seen no work. So We continue to uncover the mineralized Gold system in this district and in this project. We're looking forward to continuing to do so as well in the future. Great results and I'm very happy.

4:16 Like you said, New Coast sits about 2km from the Torres deposit. How do you see New Coast fitting into the broader picture of the Cassiarch Gold District?

4:24 And what similarities, and maybe even more importantly, what differences are you seeing between New Coast and Torres? Well, the similarities are quite big. The new coast target compared to the tourist deposit, we see there is similar style of veining, alteration, mineralization. We see mineralization outcrop. If you look, if you go and see the mapping and sampling survey that we've conducted about a year and so ago, and we released about, around a year ago, the results for that, You see large footprints where you have mineralization with grades similar to the Torres deposit outcropping at surface in the New Coast corridor, but in several outlying areas around the Torres deposit.

5:15 The Torres deposit, as a reminder, is 2.3 million ounces at over a gram per ton combined resource. It's only constrained by drilling. It starts at surface and it's within a 15km trend that has 5 past producing mines.

5:36 We don't know how big the Taurus deposit is going to get, but we see a lot of similarities between New Coast and Taurus. New Coast is just 2km south of Taurus along that trend.

5:53 Broad intercepts of mineralization, some of those quartz high-grade veins, those high-grade corridors that we also seen at Taurus, we've actually intercepted some, some high-grade corridors in the, in the drilling that we've conducted last year at Taurus, where we did some step-outs. We released that last month. So, you know, it looks like Taurus, but, you know, I guess the big difference there is, at Taurus we have over 60,000 meters of drilling there that allows us to have a 2.3 million ounce deposit already defined, of which we've already expanded that.

6:39 With at New Coast, it's kind of still early days, but it's still very, very sparsely tested. But the footprint is quite substantial. The footprint where we see gold outcropping is substantially larger than the footprint we see at Taurus. The big difference is still sparsely drilled, still a lot of potential, and the similarity is the same. So we believe that the new coast could give us another engine of growth for this bull-style mineralization that we have at the Cassiogold project. Definitely.

7:15 So Metallurgical works underway at Taurus and we actually have multiple parallel initiatives now in motion. How should investors think about the company's near-term milestones and catalysts as we're at the beginning of 2026? Yeah, so in terms of the catalyst that we have, you mentioned that the Met works, so we're looking to release Met studies on Taurus at the end of this quarter, end of Q1. That will feed into another very substantial catalyst as well, which is a preliminary economic assessment that we're looking to have out at the end of Q2. I think these are 2 major milestones as we get into a kind of a feasibility stage of the company. I mean, We're still an explorer.

8:04 We've touched less than 0.3% of our land package with any type of work. It's severely under-explored, but it's already a sizable resource that we have. At current gold prices, it's over CAD$16B worth of metal just at the Taurus deposits, let alone in the other targets. So we believe we'll continue to grow mineralization there, expand mineralization there. But these 2 catalysts are quite critical. They will help, I think, investors understand the metrics, the economics on the project

8:46 as we kind of set the stage for the company as we're trying to advance the project eventually to a production scenario. Which will take many years, but we have 2 different areas of the property with different development optionalities as well. So that will fit into that. And of course, we'll be opening camp in May as well, and we'll continue to expand and explore and that we're also kind of expanding the scope of our strategy as well and that's something we can also talk about because that's something we also mentioned in the press release as well. Yeah let's get into it and like you say you're an exploration company so 2025 program about 7,300 meters over 20 poles as you integrate these results in your 2026 planning what are the priority targets now and how will this year's discovery shape next season's exploration strategy?

9:47 Yes great question so I mean it keeps on opening more more areas or more avenues for growth. So we already had some, you know, like we knew that Taurus remains open. We've modeled, we've targeted with some of the drill results we released last month, some higher grade quarters that are basically internal to the Taurus deposit, but we tested step outs of that. We intercepted some higher grade intercepts than the gram to a gram and a half that we typically see a Taurus. At New Coast, we can continue to expand the mineralized footprint, demonstrate a continuity. So basically, That gives us very high confidence that we can keep expanding the bulk-style mineralization, which has a tonnage that the big producers find attractive.

10:43 Everyone is looking for 3, 4, 5 million ounce deposits, which is really what we're building here on the northern side, on the bulk drainage side, the side of our property. So we'll definitely continue to expand on those. We can continue to expand via step outs. We can do more exploration drilling. We have, you know, all these systems are only constrained by drilling. We have several outlying targets. So there's a lot of avenues for growth and we'll be tackling and addressing those in this drill campaign. But also, given where the gold price is, the last I checked was over $5,200 per ounce, which is really great.

11:33 We're also looking at the high-grade underground veins that we have in the southern part of our property, where we have 4 of our five-path producing mines where we also have mine permits, we have a full unit Permit Mill infrastructure that could get us into a much shorter path to production. We're also going to be looking to extend those vein systems. To give you a sense, historically, these veins produce over 300,000 ounces. The grades are between 10 and 20 grams per ton. We've basically tested extensions of those past producing vein systems, which are, you know, accessible or extremely near to the underground workings of which we have 25 kilometers connecting to the surface and to the portals.

12:31 And these are very high grades, So we're looking to work there to accelerate our path to cash flow, because we already have most of the infrastructure in place in the south. So We're assessing very seriously how to monetize that and other activities as well. But for sure, the Cassier cell is going to be a very substantial component of our focus this year because The grades are just incredible and the development optionality is extremely attractive, especially at current gold prices. I had a question which you pretty much addressed, but you mentioned the infrastructure. Why don't you go ahead and elaborate on these advantages, particularly around the existing infrastructure and the past produced and high-grade mines at Cassier South?

13:24 Yeah, so I mean, you know, most, you know, most projects these days, you know, most exploration projects that, you know, you see similarities in terms of size, for example, the TOR deposit. They're typically remote and many of them not accessible, so we have paved road access, we have grid power, We have water, we have a full unit permitted mill, we have mine permits, we have 17 historical portals, we have 25 kilometers of underground workings, we have tailings facilities, not only with capacity but with substantial amounts of gold inside as well. So we have a unique set of assets in the infrastructure that it's extremely rare to see in world exploration companies and allows us to with low CapEx pursue a path of production.

14:20 So it's a massive competitive advantage. And we really want to leverage on those. We'll be looking to assess. We have, for example, on the tailings, which is an easy one, we've tested, we know the grades. The grades on the tailings are running around a gram, 2 grams, 2 and a half grams per ton. So that's a very decent grade for material that is already at surface and ground. So that's something that we'll be testing to try to sell or reprocess in some way. So that's a way to not only monetize value, what we have, what we see, thousands if not tens of thousands of ounces on those tailings.

15:13 So that provide a way for cashflow. So we're gonna be testing that. We're also assessing the underground infrastructure, how to access that, the mill, reassess the mill, what it would take to get that mill up, either to process the tailings somehow and remove some of that material that is there at surface as a way to improve the environment around our operations as well, but also get cash flow. And also, you've seen other projects out there, looking at direct ship or trying to fire up their mills. So that's something that we'll be doing and assessing very seriously and looking through partners and bringing that skill set in-house to basically turn that concept and idea into a reality over the next few months as well.

16:18 I'm hearing a lot of assessing and assessments. Why don't you go ahead and talk about the timeline for these studies and how could this shift Casio Gold's development trajectory? Yeah, it's a great question. So, I mean, You can't put the cart ahead of the horse, as they say. So, you know, you got to make sure, you got to look into, you know, all the regulations, all the permitting. You also have to, you know, look into, you know, engineering, you know, technical studies, mining plans. So there's quite a bit of work that needs to be done. And right now we're discussing with several partners and contractors what's the best way to execute on all of those. We're not going to be doing something that puts us at risk or try to cut corners. So we're going to be systematically looking at each of these opportunities, find the best way that we in a responsible way, we can take advantage and either monetize this or take advantage to get us within reason as fast as possible to some sort of cash flow and or at the very least NPV.

17:33 So you know we will be announcing you know these these steps and the work that we want to do you know throughout the year as we select partners and as we make strides in each of the milestones and provide a little bit more specifics as we progress through this path as well. If I have my numbers right here, and it's worth reminding people, the historical underground mines at Kassir South produced approximately 315,000 ounces at grades between 10 to 20 grams per ton. How significant is this optionality for the company and what work needs to be done to advance understanding these high-grade vein systems. Yeah, so I've touched a little bit on this, that the high-grade veins are extremely exciting.

18:24 The grape speaks for itself. 10 to 20 grams per ton is fantastic. It's very rare to see this high-grade mineralization in substantial amounts anywhere in the world. So people these days are mining typically a gram per ton, down to half a gram per ton, and heading lower as you go into this gold cycle as well. And as the prices, gold prices are skyrocketing, and finally so, which is great to see. But just to give you a sense, the size of our mill, which is also the 10-inch permit within our mine permit at Cassier South. We have 2 mine permits, 1 in the Cassier South high-grade veins. It's 300 tonnes per day.

19:12 If you assume the higher range of the grade, which actually we've seen higher grades on production and substantially higher grades on the intercepts where we've extended these past producing veins of 20 grams per ton. But assuming 20 grams per ton with a meal that we have, putting 20 grams per ton in the mill, that mill could be producing around 60,000 ounces per year. If you're assuming 20 grams per ton, you could be looking at a production profile of 30,000 ounces per year. It's not a massive amount, but it's not nothing that's not current gold prices or last week's gold prices that's $200 to $400 million Canadian of potential revenue.

20:01 So that's the opportunity. And what's exciting is we have quite a bit of our 25 kilometers of underground workings connect the surface and get very close or to the high grade, the end grain sections of the high grade vines. Over previous years as an operator, we've drilled and intercepted quite a few of those vines. I'll encourage everyone to go and look at the, at the, the widths and the grades that we intercepted there. But I remember a few, like 4.8 meters at 35 grams per ton, 2.2 meters at 32 grams per ton. So, you know, nice widths and nice grades. All the main systems we extended remain open.

20:50 You know, just just one of the past producing mines, the main mine, for example, produced historically 150,000 ounces at 17 grams per ton. So these light systems can be quite juicy and have quite a bit of material. All of them remain open. All of them have been extended. And, you know, not only the the ones that have been already found provide quite a quite a runway to feed that milk, but also have a lot of potential for blind discovery of parallel and stacked vein systems because we have a 9 kilometer strike length in our project that's very prospective for these high grade veins. And the periodicity in this part of our property suggests that every 400 to 600 meters, there's a potential for parallel vine systems. So, you know, that could be dozens of these vines. You know, There's a lot of potential here and again, provides a very low CAPEX optionality to get into production much, much sooner than we can or see as realistic for the bulk tonnage in the North that it will include Tours or potentially New Coast and the outlying targets.

22:04 Exciting times. Marco, I am aware you're busy networking in Vancouver. I think we covered everything regional exploration, mill refurbishment, evaluation, tailings, monetization. I'll leave you with one more question and please take this as your closing remarks, but go ahead and summarize what's your vision for Casio gold over the next 12 to 24 months? Yeah, so that's a great question. I think, you know, first of all, I really want to, you know, remind people, you know, how undervalued we still are, you know, with, you know, our stock is maybe over, you know, over 100, you know, 150% last year, but coming from a very low level, if you look at CastYar Gold And just looking at the deposits and compared to some of our peers, we're extremely undervalued.

22:53 And some of our peers with similar sized deposits on an enterprise value grounds on the ground are trading 3456 times higher than us. So we have quite a bit of upside, just to catch up with some of our peers. In addition to that, we have, you know, mind permits, infrastructure, high-grade optionality. So, you know, it's something that makes us quite unique. It should be put at a premium. But more importantly, after 5 years of exploration, year after year, program after program, target after target, basically pretty much hitting gold in every single target that we drilled. We've demonstrated the exploration potential, the bulk tonnage potential for the north part of the property, as well as the high-grade potential.

23:45 And basically, the next 12 to 24 months, we want to move from an exploration company to an exploration developer. So that's really the vision. So we're retooling the company, refocusing our strategy, expanding the scope of what we have to really take advantage of the gold prices. And I think, you know, Casio Gold provides a unique opportunity, extremely undervalued, you know, with high leverage to the gold price that, you know, I think investors should take notes and should really take advantage of this opportunity as we move into the new stage of developing in a company as well. Exciting times ahead. We look forward to the future updates, Marco. I'll let you get back to everything you're doing, but thank you for taking the time out of your day, and thank you everyone for tuning in.