Cassiar Gold Corp. announced assay results from an additional five diamond drill holes from the 2022 exploration program completed at the Taurus Deposit, located on Company's flagship Cassiar Gold Property. The Taurus Deposit hosts a substantial near-surface, bulk-tonnage, and pit-constrained inferred gold resource of 1.4 million ounces grading 1.14 g/t Au1.

Drill holes reported here are from the southwestern and southeastern (Sable) parts of the deposit and were designed to outline extensions of mineralization that expand the deposit footprint and to further define mineralization continuity. The deposit remains open in all lateral directions as well as at depth. Cassiar Gold's 2022 program included 70 drill holes and over 23,000 m of diamond drilling that commenced in June and was completed in October 2022.

Exploration focused on strategic areas of the Taurus Deposit, key vein prospects at Cassiar South and other brownfields opportunities on the property. Results from 45 drill holes which cumulatively total 15,314 metres of drilling from the 2022 program are yet to be disclosed as the company continues to await the return of additional assay results. The results reported in this news release are from five drill holes totaling 1,826 m from the Taurus Southwest and Sable areas of the deposit.

They were designed to test the potential for extending known mineralization through expansion drilling, confirm historical results, and to assess the continuity of mineralization between resource blocks. Geologically, the holes were designed to evaluate the different mineralization styles which characterize the Taurus Deposit including east-west trending sheeted vein sets and minor shear zones with coalescing pyrite envelopes that together form bulk-tonnage style mineralization, as well as north-northwest trending, east-dipping disseminated pyrite mineralization along the Taurus West Fault corridor. Drilling at the Taurus deposit continues to demonstrate consistency of grade and apparent thickness of near-surface mineralization above the inferred mineral resource 0.5 g/t Au cut-off, including over broad intervals proximal to the Taurus West Fault.

These results suggest the potential for the extension of this broad mineralized corridor to continue along a much larger strike length at the southwest extent of the Taurus Deposit. The deposit remains open in all lateral directions as well as at depth. This drilling campaign at Taurus Southwest intercepted from surface the broadest mineralized result by the Company to date in drill hole 22TA-161.

This area remains open along the Taurus West Fault corridor highlighting the importance of this critical structure as a future exploration target with potential to expand the resource base. Drill hole 22TA-161 (northwest oriented) was designed to test for the extension of near-surface mineralization in an under-explored area proximal to the Taurus West Fault and beyond the footprint of the 2022 inferred resource. Results include: 171.9 m of 0.66 g/t Au from surface extending mineralization 35 m beyond the boundary of the 2022 open pit constrained resource block model and 80 m southeast of previous drilling.

This hole is 400 m from recently-released Taurus West drill hole 22TA-176 which returned a broad well-mineralized intercept (98.0 m of 1.28 g/t Au) along the same structural trend. This shallow mineralized corridor along the Taurus West Fault is typically characterized by high vein densities in strongly ankerite-sericite altered basalt with medium to coarse grained pyritohedrons and lesser intervals of finely disseminated pyrite mineralization. The results from this drill hole underscore the significant exploration potential along open extensions of the broad north northwest-trending Taurus West mineralized corridor outside the known footprint of the deposit.

This drill hole steps out 80m south-southeast of previous drilling, expanding mineralization beyond the extent of the resource and highlighting continuity of broad mineralized intercepts proximal to and above the Taurus west Fault. The fault dips to the east and mineralization extends deeper in that direction on adjacent cross sections. Section width +- 30m.

This northwest oriented drill hole further tests parts of the southern Taurus West Fault corridor in areas of widely spaced drilling southwest of drill hole 21TA-128. Results returned multiple intervals of gold mineralization, which extend known mineralization up to 75 m beyond the southwest extent of the pit shell model. These include: 20.0 m at 0.72 g/t Au from 69.0 m downhole, 14.5 m at 0.53 g/t Au from 150.1 m downhole, and 20.4 m at 0.51 g/t from 214.0 m downhole.

Drill hole 22TA-155 (northwest oriented) was designed to evaluate the eastern extension of near-surface mineralization and gaps in the mineralization model at southwest Taurus. The drill hole intersected several discrete multi-metre intercepts above the 0.5 g/t Au cutoff of the inferred resource model at moderate depths and along the Taurus West Fault. Results identified the extension of mineralization 40 m beyond the resource pit shell boundary and 135 m beyond the block model.

Results include: 7.9 m at 1.11 g/t Au, including 0.5 m at 9.82 g/t Au from 121.1 m downhole. 8.2 m at 0.86 g/t Au from 139.9 m downhole. Drill hole 22TA-148 (northeast oriented) was designed to confirm near-surface results returned in historical drill hole T93-13, test a gap between resource blocks, and evaluate the depth of geological contacts where limited data exists.

Results further defined and extended mineralization continuity across a 25 m area between resource blocks. Results include: 30.1 m at 1.41 g/t Au from 8.7 m downhole, including 3.7 m at 2.76 g/t Au, and 2.4 m at 9.08 g/t Au with 0.4 m at 41.40 g/t Au, better defining the extent of near-surface historical results encountered in drill hole T93-13. 33.2 m at 0.87 g/t Au from 68.9 m downhole, including 19.5 m at 1.14 g/t Au, extending mineralization between resource blocks internal to the pit shell model.

Drill hole 22TA-159 (northeast oriented) was designed to test the extent of mineralization associated with vein sets and associated pyritic alteration halos as a westward extension of mineralization 50 m from drill hole 20TA-116. This drill hole expands the mineralized envelope up to 40 m below the southeast portions of the resource pit shell model. Results include: 2.5 m of 3.87 g/t Au from 14.5 m down hole, and 15.1 m of 1.60 g/t Au from 136.4 m downhole, including 0.6 m of 9.04 g/t Au.

Significant 2022 drilling results from Taurus Deposit based on a >0.5 g/t cutoff. While true thickness has not been established, drill holes are designed to cross at high to moderate angles known corridors of mineralization based on orientations of mineralized areas defined by previous drilling and structural data from oriented drill core and outcropping veins.