Results from Drill Hole CF-26-04 show multiple intersections of 1%+ CuEq* over significant widths within a broad mineralized envelope.
Drill Hole CF-26-01 intersected a gold-bearing Banded Iron Formation (BIF)
Phase 2 drilling planned to follow up high grade mineralization at depth and along strike.
Vancouver, British Columbia – TheNewswire – October 15, 2026. Cascade Copper Corp. (CSE: “CASC”/FRA: 91O) (“Cascade” or the “Company”) is pleased to announce final results from all holes of its 5 hole, 600m Phase 1 maiden drilling program at the Centrefire Copper-Gold Project, located 40 kilometres from Dryden, Ontario. All five holes intersected veining and sulphide mineralization indicative of a potential hybrid magmatic-hydrothermal Cu-Au system as well as a separate but geophysically extensive Banded Iron Formation (BIF) hosted gold environment. Hole CF-26-04, a deeper undercut on CF-26-03 shows mineralization for the entire length of the hole, with multiple higher grade intersections within.
” These final assays from our maiden drill program at Centrefire are a total game-changer for the project,” stated Shannon Baird, Vice President of Exploration with Cascade Copper. “We initially planned to test the near-surface EM conductor along strike of the Main Gossan Zone (MGZ), but the decision to drill Hole 4 deeper has, in my opinion delivered an absolute home run. By drilling deeper underneath Holes 3 and 5, we have watched the system aggressively widen and intensify, so we will absolutely want to follow up shortly with a Phase 2 program. Interestingly, Hole 01, targeting a separate large conductor to the south of MGZ, intersected a gold-bearing Banded Iron Formation (BIF) and a gold-silver rich sulphide zone representing brand new targets, really opening up the potential for further discovery along the stacked regional trend covered by Cascade’s claims at Centrefire.”
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Figure 1 : Assay Highlights from Drill Hole CF-26-04 showing copper, gold, silver, and copper equivalent values.
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Figure 2 : Assay Highlights from Drill Holes CF-26-01 to CF-26-05 showing copper, gold, silver, and copper equivalent values.
*CuEq values are calculated using the following commodity prices and recovery factors:$5.00 Cu, $3750 Au, $50 Ag and 85% recovery for Cu, 75% recovery for Au and 65% recovery for Ag (values from similar sulphide rich deposits),
Using those values the CuEq% = Cu% + Au g/t x 0.965074 + Ag g/t x 0.01115
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Figure 3 : Core from Hole CF-26-04 from 6.60m to 22.87m downhole, showing assay results within continuous sulphide mineralization and hydrothermal veining. Composite grades from 6.60m to 129.0m returned 0.42% CuEq* including 29.6m of 1.11% CuEq* from 14.15m to 43.75m
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Figure 4 : Core from Hole CF-26-04 from 22.37m to 40.30m downhole, showing assay results. Note: from 29.00m to 43.75m returned 1.56% CuEq over 14.75m
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Figure 5 : Drill Hole CF-26-04 core with annotated intervals and assay values from 40.3 to 57.65m. Note: from 29.00m to 43.75m returned 1.56% CuEq over 14.75m
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Figure 6 : Detail of high grade section in Hole CF-26-04 from 29.0 to 43.75 that assayed 0.76% Cu, 0.792 g/t Au, and 2.855 g/t Ag for a CuEq% of 1.56 over 14.75m . Significant chalcopyrite mineralization is visible in those samples.
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Figure 7 : Collar Locations for Centrefire Phase 1 Drilling, highlighting CF-26-01 and CF-26-04
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Figure 8 : Drill Plan showing locations of Phase 1 Drill Collars. Historic drill collars are labelled, starting with 70
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Figure 9 : Cross section of Drill Hole CF-26-03 indicating copper equivalent values, Copper values by bar graph on the left and gold assays by bar graph on the right. Colour values are noted in legend.
Project Description
The 2,500-hectare Centrefire Cu-Au Project is located in the Wabigoon Greenstone Belt in Northwestern Ontario, ~40 kilometers northeast of Dryden and ~35 kilometers southwest of Sioux Lookout. It has been minimally explored in the past with 10 short (<75m vertical depth) drill holes, 5 surface trenches, continuous channel sampling over multi-meter intervals, and geophysics, both surface and airborne including magnetics and EM surveys. Phelps Dodge explored the area between 1968 and 1970 and discovered several stacked intervals of copper, gold, and nickel mineralization within the majority of drill holes. Recent modern work by Cascade has confirmed surface mineralization, re-interpreted and modelled the EM and magnetic geophysics and defined priority drill targets from this. Note that recent surface sampling has returned values up to 2.86% Cu, 2.84 g/t Au, and 23.5 g/t Ag.
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Figure 10 : Cross section of Drill Hole CF-26-01 indicating copper values on the left and gold values on the right. Colour values are noted in legend.
Discussion of Drill Results
The final data from Phase 1 has fundamentally upgraded Cascade's geological model. While descriptions by historical explorers and early indications suggested a classic Volcanogenic Massive Sulfide (VMS) environment, the complete lack of Zinc (Zn) and no Sodium (Na) depletion combined with highly anomalous levels of Tungsten (W) and Bismuth (Bi), which act as exceptional thermal proximity indicators all but confirms that Centrefire is more likely a high-energy Intrusion-Related / High-Temperature Magmatic-Hydrothermal Hybrid System. These types of systems are globally known to have significant size potential, coupling this fact with the realization that we are still achieving grades on par with the average stratigraphically confined VMS system but from surface and over a much larger area with it remaining open in all directions is quite appealing. The biggest upside is that these mineralizing systems aren’t stratigraphically bound wherever hydrofracturing occurs and fluids infiltrate forming quartz-sulfide veining and stockworking cutting across multiple horizons while simultaneous migrating through permeable materials and depositing metals.
In a classic VMS deposit, even in the copper-rich core, you would normally see background zinc values in the thousands of ppm or minor zinc bands because of the seafloor lens structure. Hitting multi-percent copper at the MGZ with zinc values tracking near background (400-1,200 ppm W means we could be near the mineralizing intrusive stock or structural fluid “vent”.
BIF-Au Target : Unlike the copper-heavy hotter target tested in Holes 03, 04, and 05 at the MGZ, mineralization within CF-26-01 behaves strictly as a distal, BIF-hosted gold play with highly distinct mineralized horizons:
• Horizon 1: The Upper Lower-Grade Zone from 44.0m downhole returned 0.31 g/t Au over 15.50m with a high of 0.89 g/t Au and 0.10% Cu over 1.75m. This matches standard, lower-grade peripheral gold mineralization along the margins of iron formations where quartz stringers begin to develop in comparable systems.
• Horizon 2: A Higher-Grade Sulfide-Replacement Zone directly below from 56.75m downhole returning 1.02 g/t Au over 2.75m including 1.55 g/t Au and 0.18% Cu over a 1.0-metre sample. This is a clean, definitive milestone for a maiden program. Hitting continuous segments tracking at >1.0 g/t Au confirms that gold-bearing fluids effectively penetrated the BIF matrix to replace magnetite with gold-bearing pyrrhotite/chalcopyrite.
• Horizon 3: The Deep Bulk Magnetite-Pyrrhotite BIF Zone from 139.65m to 151.35m downhole returned 0.10 g/t Au over 11.70m. While non-economic on its own, this broad anomalous halo indicates that the system is deep-seated and has interacted with gold-bearing fluids allowing for exceptional potential along the entire strike length of several “stacked” BIF unit encompassed within the project bounds.
Outlook for the Centrefire Project
These results fundamentally pivot the company’s perception of the project from “highly optimistic” toward an aggressive exploration growth narrative for several reasons:
• Deep Vectoring Success: In exploration, if an undercut hole returns thinner or weaker results than the surface holes, the project struggles to move forward. Hole 04 did the exact opposite returning wider, deeper, and richer intervals beneath Holes 03 and 05, leaving the system wide open at depth and along strike. This coupled with highly anomalous tungsten and bismuth could indicate Hole 04 was drilling closer toward the main heat source.
• The Hybrid Gold Multiplier: The gold grades in Hole 04 are another game-changer. Hitting individual 1-metre intervals of 3.74 g/t Au and 1.09 g/t Au means gold may not just a byproduct credit here, it becomes increasingly important alongside the copper story.
• Phase 2 Target De-Risking: This data cements the plan for a larger Phase 2 program. The team has now validated sub-surface data and mineralizing features in an area of minimal exposure and can now confidently proceed with future drill targeting.
• The BIF Exploration Thesis: For a maiden pass into a brand-new BIF-Au sector, hitting 0.10 g/t Au over the width of the BIF proves the foundational thesis. The Wabigoon Greenstone belt historically hosts high-grade gold deposits inside precisely these types of settings and provides a completely separate optionality play for Cascade that warrants systematic mapping and sampling along strike to trace where the parallel BIF zones pinch, swell, or hit major structural folds, which is typically where bonanza multi-ounce gold pockets hide in iron formations.
QA/QC Protocol
The analysis methods at Activation Laboratories a fully accredited laboratory, located in Ancaster Ontario, consist of a 4-acid near total digestion with Ultra Trace element ICP-MS and ICP-OES technique. Any over-limits above 10,000 ppm (1.0%) on copper will be run with their standard 4-Acid ICP-OES protocol. Gold analysis will be done by 30g fire assay with Atomic Absorption finish. The Company’s QA/QC program consisted of using blanks, standards, and duplicates inserted in the sampling stream.
What’s Next
A larger, follow-up Phase 2 drill program is planned at Centrefire to test the along strike and depth continuity of the zones intersected in the holes CF-26-03, 04 and -05 targeting the potential deeper, higher-grade core to the system at the MGZ. Biogeochemistry, LiDAR, and airborne EM surveys are planned to help delineate further target areas, especially along strike under the thin sandy glacial cover obscuring the majority of the project. Note: hole CF-26-02 was a shallower, near surface drill cut from CF-26-01 with both targeting a BIF with coincident magnetics and intense, flat-lying EM conductor plates identified by the Company’s high resolution drone magnetic survey and an historic VTEM survey. Sampling hole CF-26-02 was delayed pending analysis of CF-26-01 and will now be processed in short order.
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Figure 11: Centrefire Copper-Gold Project Location in NW Ontario
1 Bellavista Website Sioux Lookout Project
2 Ashley Gold Website: Press Release June 25, 2026
3 NexGold Website: Goliath Gold Complex
Note: The information disclosed from adjacent properties is not necessarily indicative of the mineralization on the Centrefire Project.
The technical information in this news release was prepared and approved by Shannon Baird, P.Geo., a Qualified Person as defined in National Instrument 43-101. Mr. Baird is Vice President Exploration of Cascade Copper Corp. and registered as a Professional Geoscientist with the Professional Geoscientists of Ontario as well as the Engineers and Geoscientists of British Columbia.
About Cascade Copper
Cascade Copper is an exploration stage natural resource company engaged in the evaluation, acquisition, and exploration of copper based mineral resource properties. Cascade is focused on copper and gold, porphyry and mesothermal gold deposits in British Columbia and Intrusion-related, VMS and BIF copper, gold, and silver style deposits in Ontario. Cascade’s priority is to conduct exploration using modern technology that includes 3D inversion modelling of geophysics, LiDAR elevation models, and AI enhanced Predictive Modelling from all historic and modern data inputs. Drilling is planned on several of its copper-gold targets this year. Cascade has five projects, including the Copper Plateau Copper-Moly Project, the Centrefire Copper-Gold Project, the Rogers Creek Copper-Gold Project, the Fire Mountain Copper-Gold Project, and the Bendor Gold-Tungsten Project.
FOR FURTHER INFORMATION, PLEASE CONTACT:
CASCADE COPPER CORP.
Jeffrey S. Ackert, President and CEO
555-1130 West Pender St.
Vancouver, BC V6E 4A4
Telephone: 1 613 851 7699
E-Mail: info@cascadecopper.com
Web: www.cascadecopper.com
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
DISCLAIMER & FORWARD-LOOKING STATEMENTS
This news release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks and uncertainties. Although these statements are based on currently available information, Cascade Copper Corp. provides no assurance that actual results will meet management’s expectations. Factors which cause results to differ materially are set out in the Company’s documents filed on SEDAR+. Undue reliance should not be placed on “forward looking statements.”
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