Cascadia Minerals Ltd. (TSXV:CAM) signed an agreement to acquire Byng and Mars Properties from Strategic Metals Ltd. (TSXV:SMD) for CAD 0.25 million on February 23, 2026. A cash consideration of CAD 0.13 million will be paid by Cascadia Minerals Ltd. The consideration consists of 500,000 common equity of Cascadia Minerals Ltd. having a value of CAD 0.13 million to be issued for assets of Byng and Mars Properties. As part of consideration, CAD 0.25 million is paid towards assets of Byng and Mars Properties. Cascadia has the option to purchase half of the NSR Royalty for CAD 2 million, subject to adjustment by the Canadian Consumer Price Index. The Cascadia shares will be subject to customary resale restrictions.

The transaction is subject to TSX Venture Exchange acceptance, and approval from the Teslin Tlingit Council ("TTC") for Cascadia to assume certain responsibilities under an existing Exploration Agreement between Strategic and the TTC pertaining to the Byng property. On March 19, 2026, it was announced that the transaction remains subject to TSX Venture Exchange acceptance.