Cassiar Gold Corp. announced assay results from an additional seven diamond drill holes from the 2022 exploration program completed at the Taurus Deposit, located in the Cassiar North area of the Company's Cassiar Gold Property in Northern British Columbia, Canada. The Company's 2022 program included 70 drill holes and over 23,000 m of diamond drilling that began in June and ended in October 2022.

The exploration objective focused on high-priority areas of the Taurus Deposit, important vein prospects at Cassiar South and other brownfields opportunities on the property. Cassiar Gold continues to concentrate its efforts on advancing exploration of the project through the expansion and definition of known areas of mineralization as well as the evaluation for the potential of new discoveries on its large land position which contains numerous gold prospects that have had limited historical testing. The results reported here further outline additional areas of mineralization that expand the deposit footprint beyond the limits of the 2022 Inferred resource estimate1 and further define mineralization continuity in the west and northwest areas of the Taurus Deposit.

The deposit remains open in all lateral directions as well as at depth. Taurus West drill hole 22TA-176 intersected 98.00 m of 1.28 g/t Au from 10.7 m downhole, including 4.10 m grading 12.02 g/t Au, and expanding mineralization within a large under- explored area between resource blocks within the 2022 inferred mineral resource open pit shell. Drill hole 22TA-178 in the Taurus West area returned multiple intervals of gold mineralization, extending mineralization between resource blocks.

Intercepts include: 52.0 m of 0.60 g/t Au from 51.4 m downhole, and 70.7 m of 0.76 g/t Au from 116.0 m downhole, including 7.6 m of 2.02 g/t Au. All four drill holes completed at Taurus Northwest area (holes 22TA-154, 22TA-151, 22TA-156 and 22TA-157) encountered multi-metre intercepts above the resource cut-off grade. These include: 11.4 m grading 2.64 g/t Au, which extends the distribution of mineralization 20 m beyond the extent of the 2022 resource open pit shell and 40m beyond the extent of the block model.

A high-grade interval of 12.86 g/t Au over 2.61 m in drill hole 22TA-156, which is open along the northern margin of the known footprint of the deposit. The Taurus Deposit hosts a substantial near-surface, bulk-tonnage inferred gold resource of 1.4 million ounces grading 1.14 g/t Au2. Results from 50 drill holes which cumulatively total 17,140 metres of drilling from the 2022 program are yet to be disclosed and will be made public in future updates.

The results reported in this news release are from seven drill holes totaling 1,962 m from the Taurus West and Northwest area of the deposit. They were designed to test the potential for extending known mineralization through step-out drilling and to evaluate the continuity of mineralization between resource blocks. Geologically, the holes were designed to target the different mineralization styles which characterize the Taurus Deposit.

These include east-west trending sheeted vein sets, minor shear zones forming bulk-tonnage style mineralization in quartz shear and extension veins sets with coalescing pyrite envelopes, as well as north-northwest trending, east-dipping disseminated pyrite mineralization at depth along the Taurus West Fault. The program has continued to increase the confidence in mineralization distribution within areas of widely spaced historical drilling and collect additional structural data to enhance the geological model. The deposit remains open in all lateral directions as well as at depth.

Drilling in 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 highlight the potential to identify additional higher-grade corridors within the 2022 resource open pit shell model. Within broader mineralized intercepts, narrower higher-grade sections (up to >10.0 g/t) are commonly encountered in the Taurus drilling, often associated with quartz veins with or without visible gold, providing the potential for establishing smaller internal zones of high-grade mineralization.

Drill hole 22TA-176 (northwest oriented) was designed to evaluate the continuity of a south-plunging mineralized trend along the Taurus West Fault and to increase near-surface mineralization in an area that had not been previously explored. This drill hole was also extended below the Taurus West Fault to assess potential for mineralization in its footwall. Multiple intercepts were returned, that include: 98.0 m of 1.28 g/t Au from 10.7 m downhole in near-surface mineralization beyond the boundary of the 2022 resource block model, confirming continuity of mineralization within an 80-200m area of limited exploration.

This interval includes a high-grade subinterval of 4.10 m grading 12.02 g/t Au, from 93.0 m downhole and is characterized by ankerite-sericite altered basalt with 10% quartz veining and 5% coarse grained pyritohedrons. 9.5 m of 0.54 g/t Au from 134.0 m downhole, occurring in the hangingwall of the Taurus West Fault. This south-southwest oriented drill hole was designed to test the continuity of mineralization along the interpreted Taurus West Fault.

The drill hole tested an area which was 65 m away from the closest resource block and 130 m from historical drilling. A shallow, broad mineralized intercept was encountered 170 m and 210 m north of intercepts encountered in 2021 drill holes 21TA-138 and 21TA- 137, respectively Results include 52.0 m of 0.60 g/t Au from 51.4 m downhole, infilling an area 65 m away from the closest resource block within the 2022 resource open pit shell. This includes a high-grade interval of 0.69 m grading 14.85 g/t Au from 93.0 m. 11.4 m of 0.73 g/t Au from 19.2 m downhole and 70.7 m of 0.76 g/t Au from 116.0 m downhole.