Cadillac Mines Announces Significant High Grade Infill Drill Results at Kerr-Addison Open Pit, Including 2.13 Grams Per Tonne Gold Over 38.2 Metres Within the 2026 Mineral Resource Pit
TORONTO, Ontario, Aug. 19, 2026 (GLOBE NEWSWIRE) -- Cadillac Mines Corporation (TSX: CADY), ("Cadillac Mines" or the "Company") is pleased to announce the first in a series of post-2026 Mineral Resource Estimate (“MRE”) assay results from its infill diamond drilling program at Kerr-Addison (“KA”), located in Virginiatown, Ontario. Results are reported for a total of 29 drill holes from an ongoing property wide infill, expansion and exploration diamond drill program.
Today’s release includes assay results from the first 29 infill diamond drill holes totaling 11,569 metres of a planned 17,850 metres of infill drilling within the KA open pit resource.
Kerr-Addison Open Pit Drilling Highlights
Selected highlight results include:
- 2.13 g/t Au over 38.2 m estimated true width (ETW) in hole KAD26-397
- 3.08 g/t Au over 22.7 m (ETW) incl. 5.26 g/t Au over 6.4 m (ETW) in hole KAD26-428T
- 1.94 g/t Au over 9.2 m (ETW) in KAD26-476
- 1.52 g/t Au over 13.2 m (ETW) in KAD25-386
- 7.44 g/t Au over 3.7 m (ETW) incl.62.48 g/t Au over 0.8m (ETW) in hole KAD26-465
- 1.24 g/t Au over 7.8 m (ETW) in hole KAD26-427
Rick Howes, Chief Executive Officer of Cadillac Mines, stated, “These initial drill results continue to highlight the significant opportunity we have to add additional high-quality mineral resources within the Kerr Open Pit.” Mr. Howes continued “Our 2026 drill optimization program at Kerr, will continue to target new areas and better define known footwall structures within the pit, as well as targeting new ounces and mineralization in our step-out program immediately to the northeast of known resource blocks. There are currently 11 diamond drill rigs operating on the properties”
Geology and Context of Results
The Kerr-Addison Deposit is an Archean orogenic gold system located in the Abitibi Greenstone Belt. It is spatially associated with the Larder Lake Cadillac Deformation Zone (LLCDZ), a major crustal fault that acted as a conduit for hydrothermal fluids and controlled the emplacement of gold mineralization. There are five main mineralized domains that host the Kerr mineralization: Green Carbonate and Flow, which constitute the Main Break mineralization that accounted for over 10 million ounces of historical gold production, and the Footwall (Chesterville or CVE), Albitic and Graphitic domain which accounted for under 0.5 Moz of historic production.
While a small portion of the infill drilling continued to target areas proximal to the plane of the LLCDZ for waste conversion and resource upgrades, the majority of the holes highlighted in this news release were targeting extensions of several of the lesser drilled mineralized footwall zones that had been largely ignored in the past. The initial results have been highly successful in potentially upgrading inferred resources to indicated within the pit, and, more importantly, adding significant new mineralization in areas previously considered waste, thus reducing the overall in pit strip ratio. (Figures 2-5)
- Hole KAD26-397 (Figures 1 & 2) is one of the most significant results of the program, a continuous intersection at a grade above the open pit resource average, approximately 175 metres below surface and inside the 2026 MRE resource pit. The hole intersects a mineralized footwall panel substantially wider than had been modelled. The additional width represents volume not included in the 2026 MRE, and converting it is expected to add resource and reduce the strip ratio in this part of the pit by moving blocks categorized as waste in 2026 into the mineral resource. The hole also further confirms continuity in the panel to surface.
- Hole KAD26-428T (Figures 1 & 2) returned two intersections on the same section. The upper intersection sits at the base of the 2026 MRE resource pit at more than double the open pit resource grade. It adds geological confidence at the bottom of the pit, supports higher grade modelling in that area, and is expected to contribute to upgrading inferred blocks from the 2026 MRE. The lower intersection sits approximately 25 metres below the current resource pit bottom, roughly 300 metres below surface, over significant width at a grade well above cut-off. That interval falls within an area previously modelled as Mineralization Potential and demonstrates the opportunity to extend the pit at depth.
- Hole KAD26-476 (Figures 1 & 2) intersected mineralization within 60 metres of surface at approximately 50 percent above the open pit resource grade. The intersection sits adjacent to inferred material carried in the 2026 MRE and extends it, both wider and slightly higher in the footwall panel, adding volume above what was modelled. The ground between this intersection and surface remains untested.
- KAD25-386 (Figures 1 & 3) tested the westward continuity of the southernmost footwall panel inside the 2026 MRE resource pit, at the margin between inferred resources and modelled Mineralization Potential. The blocks on this section are classified inferred in the 2026 MRE. Assays for this hole were received after the MRE cut-off date and were not used in that estimate. The intersection confirms the panel continues west and is expected to carry inferred classification further in that direction. Drilling currently underway continues to extend mineralization in this panel to the west.
- KAD25-465 (Figures 1 & 4) intersected the southernmost footwall panel inside the 2026 MRE resource pit at more than three times the open pit resource grade, approximately 65 metres below surface. The intersection sits at the top of the inferred model in this panel on this section. The area above it to surface is untested and carries the potential to extend this high-grade material up to surface, where it would sit at low strip inside the pit shell.
- KAD26-427 (Figures 1 & 5) returned two intersections. The upper intersection sits within 30 metres of surface over good width at a grade comparable to the open pit resource, in an area not previously modelled as mineralized. The lower intersection lies at the base of the 2026 MRE resource pit over wide width at a grade below the resource average but well above cut-off, within an area modelled as Mineralization Potential. That interval is expected to contribute to converting Mineralization Potential to resource at the base of the pit, adding resources and reducing the strip ratio.
Infill drilling is continuing to better define these footwall zones both northeast towards the pit margins and to the southwest within the pit. The infill program is expected to conclude by mid-September.
Figure 1
Plan Map of selected highlight drill hole locations within the Kerr Open Pit, surface projection of 2026 Mineral Resource Estimate (MRE) with MRE pit outline at surface and section lines of selected sections presented in the current release.
Figure 2
Cross section a-a’ looking northeast, showing drill holes KAD26-397, KAD26-428T and KAD26-476 with 2026 MRE Block Model, Mineralization Potential and 2026 MRE Resource Pit Shell. Previously released and historical drill holes shown in grey. Reported intervals are estimated true width.
Figure 3
Cross Section b-b’ looking northeast, showing drill hole KAD25-386 with 2026 MRE Block Model, Mineralization Potential and 2026 MRE Resource Pit Shell. Previously released and historical drill holes shown in grey. Reported intervals are estimated true width.
Figure 4
Cross Section c-c' looking northeast, showing drill hole KAD26-465 with 2026 MRE Block Model, Mineralization Potential and 2026 MRE Resource Pit Shell. Previously released and historical drill holes shown in grey. Reported intervals are estimated true width.
Figure 5
Cross Section d-d' looking northeast, showing drill hole KAD26-465 with 2026 MRE Block Model, Mineralization Potential and 2026 MRE Resource Pit Shell. Previously released and historical drill holes shown in grey. Reported intervals are estimated true width.
Table 1. Detailed drill results
| Hole ID | From (m) | To (m) | Interval (m) | ETW | Au (g/t) | Zone |
| KAD25-386 | 62.0 | 84.6 | 22.6 | 13.2 | 1.52 | Kerr-Addison Open Pit |
| 85.0 | 100.0 | 15.0 | 13.0 | 0.88 | ||
| 138.0 | 145.0 | 7.0 | 3.5 | 0.48 | ||
| KAD25-388 | 62.8 | 78.4 | 15.7 | 13.2 | 1.23 | Kerr-Addison Open Pit |
| KAD26-397 | 73.3 | 79.3 | 6.0 | 2.5 | 0.83 | Kerr-Addison Open Pit |
| 136.3 | 145.2 | 9.0 | 3.9 | 0.34 | ||
| 171.2 | 179.0 | 7.8 | 3.3 | 0.82 | ||
| 192.0 | 238.1 | 46.1 | 38.2 | 2.13 | ||
| 336.2 | 346.2 | 10.0 | 4.7 | 0.38 | ||
| KAD26-398 | 65.6 | 90.0 | 24.4 | 13.9 | 0.49 | Kerr-Addison Open Pit |
| 96.0 | 109.0 | 13.0 | 9.0 | 0.32 | ||
| 146.5 | 153.0 | 6.5 | 3.2 | 0.81 | ||
| 204.0 | 222.0 | 18.0 | 4.1 | 0.79 | ||
| 321.0 | 333.0 | 12.0 | 7.8 | 0.71 | ||
| 356.1 | 363.0 | 6.9 | 6.7 | 0.66 | ||
| KAD26-409 | 11.1 | 32.0 | 20.9 | 12.3 | 1.00 | Kerr-Addison Open Pit |
| 116.5 | 127.0 | 10.5 | 5.4 | 0.43 | ||
| 223.5 | 234.0 | 10.5 | 4.1 | 1.01 | ||
| 443.4 | 451.0 | 7.6 | 5.2 | 1.47 | ||
| KAD26-414 | 15.0 | 30.8 | 15.8 | 7.2 | 0.60 | Kerr-Addison Open Pit |
| 185.6 | 194.6 | 9.0 | 6.1 | 0.25 | ||
| 257.3 | 268.5 | 11.2 | 7.2 | 0.56 | ||
| 444.4 | 476.2 | 31.9 | 21.1 | 0.58 | ||
| KAD26-419 | 17.1 | 24.0 | 6.9 | 3.0 | 0.31 | Kerr-Addison Open Pit |
| 107.7 | 125.0 | 17.3 | 5.5 | 0.38 | ||
| KAD26-422 | 13.6 | 27.4 | 13.7 | 5.6 | 0.76 | Kerr-Addison Open Pit |
| 30.4 | 39.0 | 8.6 | 5.7 | 0.81 | ||
| 118.0 | 123.6 | 5.6 | 2.3 | 1.41 | ||
| 144.0 | 155.8 | 11.8 | 6.8 | 0.30 | ||
| KAD26-427 | 14.5 | 29.8 | 15.3 | 7.8 | 1.24 | Kerr-Addison Open Pit |
| 126.4 | 142.7 | 16.3 | 5.5 | 0.45 | ||
| 167.0 | 174.0 | 7.0 | 5.2 | 0.28 | ||
| 208.0 | 238.0 | 30.0 | 29.3 | 0.60 | ||
| 258.7 | 266.0 | 7.4 | 7.2 | 1.14 | ||
| KAD26-428-B1 | 258.0 | 309.7 | 51.7 | 19.2 | 0.79 | Kerr-Addison Open Pit |
| 316.0 | 330.6 | 14.6 | 13.5 | 1.03 | ||
| 340.8 | 345.9 | 5.1 | 4.7 | 0.21 | ||
| 349.0 | 358.1 | 9.1 | 8.6 | 0.81 | ||
KAD26-428T | 122.8 | 131.0 | 8.2 | 1.9 | 0.49 | Kerr-Addison Open Pit |
| 134.3 | 148.6 | 14.4 | 3.4 | 0.40 | ||
| 165.0 | 187.5 | 22.5 | 11.5 | 0.64 | ||
| 192.0 | 204.0 | 12.0 | 4.7 | 0.43 | ||
| 244.6 | 252.0 | 7.4 | 3.9 | 0.32 | ||
| 259.2 | 290.2 | 31.0 | 22.7 | 3.08 | ||
| including | 260.2 | 269.0 | 8.8 | 6.4 | 5.26 | |
| 294.6 | 300.0 | 5.4 | 4.2 | 0.37 | ||
| 311.6 | 340.0 | 28.5 | 20.2 | 0.85 | ||
| KAD26-432 | 28.7 | 47.6 | 18.9 | 11.6 | 0.77 | Kerr-Addison Open Pit |
| 105.0 | 129.7 | 24.7 | 15.3 | 0.66 | ||
| 172.9 | 178.9 | 6.0 | 2.7 | 0.40 | ||
| 246.6 | 268.0 | 21.4 | 17.6 | 0.58 | ||
| 385.0 | 396.0 | 11.0 | 9.4 | 0.53 | ||
| KAD26-438 | 20.0 | 39.6 | 19.6 | 6.0 | 0.89 | Kerr-Addison Open Pit |
| 106.4 | 112.2 | 5.8 | 3.1 | 0.84 | ||
| 116.3 | 123.0 | 6.7 | 3.6 | 0.65 | ||
| 218.6 | 223.7 | 5.1 | 3.5 | 2.00 | ||
| 238.8 | 255.1 | 16.4 | 9.1 | 0.58 | ||
| 258.9 | 272.6 | 13.7 | 8.3 | 0.62 | ||
| 424.0 | 437.1 | 13.1 | 12.2 | 0.34 | ||
| KAD26-441 | No significant values | Kerr-Addison Open Pit | ||||
| KAD26-444 | 15.0 | 36.0 | 21.0 | 9.3 | 0.67 | Kerr-Addison Open Pit |
| 170.0 | 177.9 | 7.9 | 2.0 | 0.29 | ||
| 183.0 | 191.0 | 8.0 | 2.7 | 0.56 | ||
| 195.0 | 213.4 | 18.4 | 13.3 | 0.33 | ||
| 234.5 | 265.1 | 30.6 | 25.3 | 0.58 | ||
| KAD26-459 | 74.0 | 80.4 | 6.4 | 3.3 | 0.59 | Kerr-Addison Open Pit |
| KAD26-462 | 60.0 | 70.0 | 10.0 | 2.8 | 1.01 | Kerr-Addison Open Pit |
| 138.0 | 151.0 | 13.0 | 3.6 | 0.39 | ||
| 215.0 | 224.6 | 9.6 | 4.1 | 0.57 | ||
| 285.0 | 300.0 | 15.0 | 4.1 | 0.42 | ||
| 343.0 | 348.0 | 5.0 | 2.1 | 1.04 | ||
| KAD26-463 | 50.8 | 59.0 | 8.2 | 2.3 | 0.45 | Kerr-Addison Open Pit |
| 91.0 | 98.0 | 7.0 | 4.7 | 0.39 | ||
| KAD26-463A | 47.0 | 55.5 | 8.5 | 2.8 | 0.32 | Kerr-Addison Open Pit |
| 101.0 | 109.0 | 8.1 | 2.4 | 0.60 | ||
| 113.0 | 123.0 | 10.0 | 9.1 | 0.60 | ||
| 128.2 | 143.0 | 14.9 | 4.6 | 0.94 | ||
| 150.0 | 162.1 | 12.1 | 6.0 | 0.71 | ||
| 229.0 | 235.0 | 6.0 | 5.5 | 0.54 | ||
| KAD26-465 | 78.3 | 85.2 | 6.9 | 6.7 | 0.44 | Kerr-Addison Open Pit |
| 94.2 | 102.6 | 8.4 | 3.7 | 7.44 | ||
| including | 101.8 | 102.6 | 0.8 | 0.8 | 62.48 | |
| KAD26-466 | 51.0 | 70.0 | 19.0 | 11.8 | 1.35 | Kerr-Addison Open Pit |
| 131.0 | 138.0 | 7.0 | 1.6 | 0.24 | ||
| 228.0 | 254.9 | 26.9 | 8.5 | 1.68 | ||
| 266.9 | 277.0 | 10.1 | 9.1 | 0.20 | ||
| 282.0 | 289.3 | 7.3 | 7.1 | 0.49 | ||
| 318.0 | 326.0 | 8.0 | 7.9 | 0.42 | ||
| KAD26-467 | 76.0 | 82.3 | 6.3 | 3.4 | 0.36 | Kerr-Addison Open Pit |
| KAD26-468 | 9.8 | 17.3 | 7.5 | 3.9 | 2.69 | Kerr-Addison Open Pit |
| 50.6 | 64.0 | 13.5 | 4.5 | 0.25 | ||
| 135.0 | 150.0 | 15.0 | 11.7 | 0.90 | ||
| 155.6 | 163.0 | 7.4 | 1.7 | 0.25 | ||
| 178.0 | 191.7 | 13.7 | 7.3 | 0.92 | ||
| 315.0 | 323.0 | 8.0 | 4.0 | 0.59 | ||
| 329.0 | 335.6 | 6.6 | 3.8 | 0.30 | ||
| KAD26-469 | 54.1 | 55.0 | 0.9 | 0.1 | 0.34 | Kerr-Addison Open Pit |
| KAD26-469A | 90.0 | 101.2 | 11.2 | 3.3 | 0.50 | Kerr-Addison Open Pit |
| 106.8 | 117.0 | 10.2 | 2.5 | 1.06 | ||
| 127.0 | 141.0 | 14.0 | 3.8 | 1.22 | ||
| 161.4 | 168.0 | 6.6 | 5.9 | 0.66 | ||
| 175.0 | 188.0 | 13.0 | 12.0 | 0.93 | ||
| KAD26-471 | 22.0 | 29.0 | 7.0 | 6.2 | 0.33 | Kerr-Addison Open Pit |
| 124.5 | 134.0 | 9.6 | 7.0 | 1.73 | ||
| 242.0 | 248.0 | 6.0 | 4.6 | 0.31 | ||
| KAD26-476 | 66.0 | 84.1 | 18.1 | 9.2 | 1.94 | Kerr-Addison Open Pit |
| 263.0 | 269.0 | 6.0 | 4.8 | 0.66 | ||
| KAD26-479 | 3.1 | 4.0 | 0.9 | 0.5 | 0.28 | Kerr-Addison Open Pit |
| 20.0 | 21.0 | 1.0 | 0.3 | 0.42 | ||
| KAD26-482 | 237.5 | 254.0 | 16.5 | 13.6 | 0.52 | Kerr-Addison Open Pit |
| 262.8 | 271.7 | 9.0 | 5.8 | 1.52 | ||
| 488.0 | 505.4 | 17.4 | 15.5 | 2.23 | ||
Notes on Table 1:
- Estimated True Widths (ETW) are estimated based on drill hole Geology or comparison with other on-section drill holes
- The composite assay grades presented in the summary tables are calculated using a minimum average of 0.20 g/t for Au, with a maximum of 3.0 m internal waste and no grade capping.
Table 2. Drill hole locations
| Drill Hole | Easting | Northing | Elevation (masl) | Azimuth | Dip | Total Length (m) | Zone |
| KAD25-386 | 605818 | 5332517 | 335.3 | 150 | -45 | 201 | Kerr-Addison Open Pit |
| KAD25-388 | 606311 | 5333056 | 320.0 | 149 | -68 | 588 | Kerr-Addison Open Pit |
| KAD26-397 | 606175 | 5332735 | 318.5 | 330 | -65 | 402 | Kerr-Addison Open Pit |
| KAD26-398 | 606150 | 5333013 | 320.3 | 144 | -56 | 561 | Kerr-Addison Open Pit |
| KAD26-409 | 606300 | 5332854 | 327.0 | 340 | -57 | 648 | Kerr-Addison Open Pit |
| KAD26-414 | 606300 | 5332854 | 327.0 | 343 | -50.5 | 492 | Kerr-Addison Open Pit |
| KAD26-419 | 606300 | 5332854 | 327.0 | 332.5 | -47 | 447 | Kerr-Addison Open Pit |
| KAD26-422 | 606300 | 5332854 | 327.0 | 330 | -46.5 | 447 | Kerr-Addison Open Pit |
| KAD26-427 | 606300 | 5332854 | 327.0 | 329.5 | -55 | 584 | Kerr-Addison Open Pit |
| KAD26-428-B1 | 606176 | 5332734 | 320.4 | 346 | -80 | 1013 | Kerr-Addison Open Pit |
| KAD26-428T | 606176 | 5332734 | 320.4 | 346 | -80 | 929 | Kerr-Addison Open Pit |
| KAD26-432 | 606300 | 5332854 | 327.0 | 319 | -51 | 399 | Kerr-Addison Open Pit |
| KAD26-438 | 606300 | 5332854 | 327.0 | 320 | -56.5 | 642 | Kerr-Addison Open Pit |
| KAD26-441 | 606355 | 5332902 | 316.4 | 319 | -50.5 | 105 | Kerr-Addison Open Pit |
| KAD26-444 | 606300 | 5332854 | 330.7 | 321 | -56.5 | 581 | Kerr-Addison Open Pit |
| KAD26-459 | 606281 | 5332801 | 320.3 | 150 | -47 | 153 | Kerr-Addison Open Pit |
| KAD26-462 | 605818 | 5332517 | 335.3 | 331 | -73.5 | 357 | Kerr-Addison Open Pit |
| KAD26-463 | 606321 | 5332975 | 333.9 | 343 | -45 | 117 | Kerr-Addison Open Pit |
| KAD26-463A | 606321 | 5332975 | 333.9 | 345 | -45 | 303 | Kerr-Addison Open Pit |
| KAD26-465 | 606231 | 5332755 | 317.3 | 147 | -45 | 162 | Kerr-Addison Open Pit |
| KAD26-466 | 605857 | 5332560 | 332.6 | 329 | -73.5 | 357 | Kerr-Addison Open Pit |
| KAD26-467 | 606237 | 5332659 | 308.4 | 150 | -75 | 150 | Kerr-Addison Open Pit |
| KAD26-468 | 606197 | 5332818 | 326.8 | 327 | -46 | 452 | Kerr-Addison Open Pit |
| KAD26-469 | 605404 | 5332417 | 320.3 | 330 | -72 | 60 | Kerr-Addison Open Pit |
| KAD26-469A | 605404 | 5332417 | 320.3 | 330 | -72 | 198 | Kerr-Addison Open Pit |
| KAD26-471 | 606278 | 5332945 | 332.6 | 326 | -46 | 294 | Kerr-Addison Open Pit |
| KAD26-476 | 606165 | 5332781 | 326.4 | 158 | -73.5 | 315 | Kerr-Addison Open Pit |
| KAD26-479 | 606124 | 5333001 | 320.4 | 330 | -45 | 81 | Kerr-Addison Open Pit |
| KAD26-482 | 606023 | 5333138 | 321.6 | 146 | -50 | 531 | Kerr-Addison Open Pit |
Notes on Table 2:
- Table contains information for all 2026 diamond drill holes with results released since the 2026 Mineral Resource Estimate
- Coordinate system NAD83 UTM Zone 17N
Second Half 2026 Outlook
Kerr-Addison is the flagship property of Cadillac Mines and is located along the historic Cadillac Larder lake Break. In 2026, Cadillac will continue to execute on its largest ever annual drilling budget of approximately $65 million dollars and target the completion of 145,000 meters of diamond drilling across its entire property portfolio, including Larder and Galloway. Currently Cadillac is operating 11 diamond drill rigs, with three focused on expanding mineralization at its newly acquired Galloway Property, one currently testing below the known mineralization at the Geminid Nickel target, and the remainder targeting infill and expansionary drilling at Kerr-Addison. It is expected that as the infill program winds down, existing rigs will be re-deployed to Larder later in the third quarter.
During the second half of 2026, Cadillac Mines will also be planning and implementing a property wide airborne geophysical survey covering the entire Larder, Galloway and Kerr properties along with a ground based deep penetrating MT and DCIP geophysical survey. In addition, Cadillac has contracted Geologic AI to scan over 40,000 m of historic Galloway core from the 400-hole historical diamond drill database, collecting continuous XRF chemistry plus hyperspectral mineralogy to aid in the geologic interpretation and re-assaying of select intervals of core for Cu and Mo.
Mineral Resource Estimate
The third MRE for the Kerr-Addison Deposit was prepared in accordance with the CIM Definition Standards (2014) and CIM Best Practice Guidelines (2019), as incorporated by reference in NI 43-101. The effective date of the latest MRE is February 27, 2026, and the estimate was completed under the supervision of Maxime Ménard, P.Geo., the Qualified Person responsible for the estimate.
Table 3. 2026 Mineral Resource Estimate
| Resource Category | Tonnage (kt) | Gold Grade (g/t) | Metal Content (Moz Au) |
| Open Pit | |||
| Indicated | 74.3 | 1.3 | 3.0 |
| Inferred | 13.6 | 0.6 | 0.3 |
| Underground | |||
| Indicated | 4.1 | 2.6 | 0.4 |
| Inferred | 12.3 | 4.9 | 1.9 |
| Total | |||
| Indicated | 78.5 | 1.3 | 3.4 |
| Inferred | 25.9 | 2.7 | 2.2 |
Notes on Table 3:
- The Mineral Resource Estimate has been prepared in accordance with the CIM Definition Standards (2014) and CIM Best Practice Guidelines.
- Numbers may not sum due to rounding.
- Contained metal values are calculated using unrounded tonnage and grade values.
- Mineral Resources are reported within constraining shapes that demonstrate reasonable prospects for eventual economic extraction.
- Open pit Mineral Resources are reported within a conceptual pit shell using a cut-off grade of 0.20 g/t Au, based on the following parameters: gold price of USD 2,300/oz, exchange rate of 0.73 USD/CAD (1.37 CAD/USD), gold recovery of 91%, payable factor of 99%, royalty of 3%, selling cost of USD 5/oz, processing and G&A cost of CAD 16.50/t, mining cost of CAD 3.50/t mined, and an overall slope angle of 50°.
- Underground Mineral Resources are reported within optimized stope shapes generated using the Deswik Stope Optimizer (DSO), based on a longhole open stoping mining method. These shapes were generated using a cut-off grade of 1.2 g/t Au, based on the following parameters: gold price of USD 2,300/oz, exchange rate of 0.73 USD/CAD (1.37 CAD/USD), gold recovery of 91%, payable factor of 99%, royalty of 3%, selling cost of USD 5/oz, processing and transport cost of CAD 13.60/t, mining cost of CAD 90.13/t mined, and G&A cost of CAD 6.72/t, for a total operating cost of CAD 110.45/t. Reported grades are undiluted and reflect in-situ estimates constrained by these shapes.
- Bulk density values range from approximately 2.7 t/m³ to 2.94 t/m³, depending on lithology.
- Mineral Resources have been classified in accordance with CIM guidelines; no Measured Mineral Resources have been defined.
- Blocks located within historical mined voids and within the overburden had their gold value set to zero and are excluded from the Mineral Resource Estimate.
- Underground Mineral Resources located within 12 m of historical stopes are reported as remnant material due to increased mining complexity and operational risks associated with extracting material adjacent to historical workings.
- The Qualified Person responsible for the Mineral Resource Estimate is Maxime Ménard, P.Geo.
- The Mineral Resource Estimate is based on an octree block model with a parent block size of 5 m × 5 m × 5 m, constructed in Leapfrog Edge and constrained by geological domains, topography and historical void models.
Quality Assurance and Quality Control Procedures
Cadillac Mines maintains an internal quality assurance and quality control (QA/QC) program at the Kerr-Addison Project to ensure sampling and analysis of all exploration work is conducted in accordance with industry-standard best practices.
Drill core is logged and sampled at core logging facilities in Virginiatown and Rouyn-Noranda under the supervision of a Qualified Geologist. Sample intervals are selected by a geologist based on geological observations, with sample numbers, certified reference materials (CRMs), and blanks inserted into the sample sequence and recorded in the database. Drill core is cut in half using an automated core saw equipped with a diamond-tipped blade. One half of the core is placed in labelled plastic sample bags and then packaged in rice bags for shipment, while the remaining half is returned to the core box and retained for future reference. Saws and surrounding areas are thoroughly cleaned at the end of every shift and between each hole.
Core samples are transported by Manitoulin Transport to ALS Geochemistry in Thunder Bay for sample preparation and gold analysis and then shipped to ALS Geochemistry in North Vancouver for multi-element analysis. Sample preparation includes crushing the sample to at least 70% passing 2 mm. A 500 g sub-sample is collected using a riffle splitter, transferred into a sealed and uniquely coded jar, and analyzed for gold by Photon Assay. A second sub-sample of up to 250 g is collected using a riffle splitter, pulverized to at least 85% passing 75 microns, and analyzed for multi-element chemistry using four-acid digestion of a 0.25 g analytical split with an ICP-AES finish.
Cadillac Mines inserts CRMs (5%), blanks (5%), and duplicate (5%) samples into the sample stream to monitor analytical accuracy, contamination, and sampling precision. ALS Laboratories are an ISO/IEC accredited laboratory and maintain internal quality control procedures, including the insertion of laboratory blanks, reference materials, and pulp duplicates.
Qualified Person
Mr. Kerry Sparkes, M.Sc. P.Geo is Cadillac’s SVP Exploration and the Qualified Person who has approved the technical information disclosed in this release.
Messrs. Maxime Menard, P.Geo and Sunil Koppalkar, P.Eng., from G Mining Services Inc. are the Qualified Persons (QPs) responsible for the preparation of the Kerr Addison Mineral Resource Estimate
About Cadillac Mines
Cadillac Mines Corporation is a Canadian mineral exploration company advancing a growing portfolio of gold and critical mineral projects along the prolific Cadillac-Larder Lake Break in Ontario and Québec. Anchored by the historic Kerr-Addison Mine, the Company is focused on expanding its gold resource base, advancing the Geminid nickel deposit and unlocking the broader potential of its district-scale Abitibi land position. Through disciplined exploration, technical excellence and responsible development, Cadillac Mines is working to create lasting value for shareholders, communities and other stakeholders. For more information about the Company, please visit www.cadillacmines.com.
Additional Information
For further information, please contact:
Hannes Portmann, Chief Financial Officer
hportmann@cadillacmines.com
Forward-Looking Information
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to future development plans and the business and operations of the Company. Forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets; results of exploration; the economics of processing methods; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of and increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties.
There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/cec7bdb5-f552-48ce-82e9-1d5368e9c489
https://www.globenewswire.com/NewsRoom/AttachmentNg/9cf9fd20-df9d-4a4d-8d28-c9c56ec20f4d
https://www.globenewswire.com/NewsRoom/AttachmentNg/7cb4eea6-e354-442a-9940-c9bc6ef024ac
https://www.globenewswire.com/NewsRoom/AttachmentNg/4cf7894b-92db-4241-b922-ef71112786a3
https://www.globenewswire.com/NewsRoom/AttachmentNg/0010cb96-628b-410d-903b-a0f6e0e6849f
