Cascadia Minerals Ltd. entered into a strategic alliance agreement with Agnico Eagle Mines Limited, pursuant to which the parties have established a multi-year strategic alliance for the identification and advancement of gold-copper exploration properties in Yukon's Stikine Terrane. The Strategic Alliance will focus on gold and copper exploration in Yukon's Stikine Terrane, which extends into Yukon from British Columbia's Golden Triangle and is a highly prospective and underexplored target area for gold-copper porphyry mineralization. A minimum of CAD 500,000 per year of generative exploration will be funded by Agnico Eagle through the Strategic Alliance.
Cascadia's Macks, Milner, Byng and Mars properties, as well as 2,834 claims recently staked by Cascadia, will be explored as part of the Strategic Alliance. Up to CAD 5 million in exploration funded by Agnico Eagle is planned for the 2026 field season under the Strategic Alliance and the Catch Earn-In. Under the terms of the Strategic Alliance Agreement, Agnico Eagle will provide annual funding over an initial three-year period for generative exploration work performed by Cascadia, as operator, within the Stikine Terrane in Yukon.
Following initial work, projects within the Exploration Area may be designated by either party to be the subject of further exploration under an earn-in agreement. Each such earn-in agreement will provide Agnico Eagle with the right to earn a 51% interest in the Designated Project by funding work expenditures of CAD 3 million over a three-year period. Upon any exercise by Agnico Eagle of its right to earn an interest in a Designated Project, Cascadia and Agnico Eagle will enter into a joint venture agreement which will provide, among other things, Agnico Eagle with the right to earn an additional 29% interest in such Designated Project (for a total interest of 80%) by funding work expenditures of CAD 12 million over a further three-year period.
Funding for staking and other acquisitions on behalf of the Strategic Alliance will be provided by Agnico Eagle outside of Agnico Eagle's annual commitment to fund generative exploration. Cascadia will act as the initial operator of the Strategic Alliance and any Designated Project. Cascadia recently staked 2,834 new claims in Yukon's Stikine Terrane which will be explored by the Strategic Alliance.
These new claims comprise expansions of Cascadia's Macks, Milner, Byng and Mars properties, as well as four new properties, Bunker Hill, Hilo, Hyde and Mustard.
