Calgary - Cassiar Gold Corp. (TSXV: GLDC) (OTCQX: CGLCF) (the 'Company' or 'Cassiar Gold') is pleased to announce assay results for the remaining 13 drillholes completed at the Cassiar South project area as part of its 2021 diamond drill program at the Company's flagship Cassiar Gold Property located in British Columbia, Canada.

The Cassiar South project area hosts a multitude of shear vein targets and several past-producing underground mines that have historically produced over 315,000 ounces of gold grading between 10 to 20 g/t Au[1].

Summary & Highlights

The Cassiar South drill program targeted lateral and down-dip extensions of known or previously mined veins as well as areas where favourable geology and vein periodicity suggest potential for the discovery of new high-grade veins.

Of the 13 holes reported in this press release, 12 intersected gold-bearing quartz veins containing anomalous to high-grade gold at four vein system targets: Bain, Cusac, Bridge and Hot.

Drill results from the Bain vein system suggest a mineralized trend of over 470 m in strike length beyond historical workings with intercepts of 2.4 m of 11.89 g/t Au, including 0.6 m of 42.40 g/t, from hole 21EB-303 and 4.6 m of 3.27 g/t Au from Drillhole 21EBX-101.

Drilling at the Cusac vein encountered 3.2 m at 4.65 g/t Au, including 1.3 m at 10.71 g/t Au in Drillhole 21CU-401A. This intercept forms part of an unmined vein which lies adjacent to the former Cusac mine workings.

All vein systems hold significant potential for higher grade gold discoveries with continued lateral expansion of mineralization as well as extension of mineralization at depth. The Company plans to drill 5,000 m at Cassiar South in 2022 to target new parallel and stacked vein systems.

'The Cassiar South project area hosts multiple unmined veins close to historical workings and the 2021 program successfully confirmed our understanding of the critical structures that control the distribution of gold mineralization with 18 out of 19 drillholes hitting quartz veins containing anomalous to high-grade gold,' stated Marco Roque, President and CEO of Cassiar Gold. 'We are thrilled to have expanded known gold mineralization along strike at the Bain vein, particularly given the fact that the area is covered by an existing mining lease and is close to our permitted 300 tpd mill and tailings facility. Success in defining new resources in upcoming campaigns will provide us the opportunity for a low-cost and near-term development opportunity.'

'The Cassiar South project area remains one of the most fascinating and exciting aspects of the overall Cassiar Gold Property for its potential to host high-grade vein systems, which is complemented by our foundational and highly prospective bulk-tonnage Taurus deposit to the north. As such, we are keen to embark on our most ambitious exploration program to date with a 20,000 m drill campaign across the property that will begin in June.'

Cassiar South 2021 Drill Results Summary

The Cassiar South project area of the Cassiar Gold Property hosts a multitude of shear vein targets and several past-producing underground mines that have historically produced over 315,000 ounces of gold grading between 10 to 20 g/t Au. Individual vein targets have been known to host between 30,000 to 60,000 ounces of gold, with some vein clusters containing up to 120,000 ounces as shown in historical production records for the Main Mine1. Past-producing high-grade veins such as the Vollaug vein are known to have strike lengths of up to 3 km.

Veins are classic, orogenic-style, high-grade gold veins with free gold which occur in mafic volcanic rocks stacked between low-angle listwanite-bearing thrust surfaces and lenses of fine-grained clastic sediments. Veins occur stacked in multiple mafic volcanic units, and potential lies in defining: (1) stacked veins below known veins in underlying mafic volcanic panels; (2) parallel vein sets beneath overlying sedimentary and listwanite units within mafic panels, where historically mined parallel vein systems are spaced 400 to 600 m apart and (3) extensions of known vein systems.

The Company's 2021 drill program at Cassiar South consisted of 24 drill holes totaling 7,191 m of which 19 holes were completed (five holes were abandoned due to challenging drill conditions). The program targeted extensions of the Bain, Cusac, Vollaug, Bain-Cusac Bridge and Hot Vein veins.

Bain Vein Target

The Bain vein system historically produced 24,000 ounces of gold at an average grade of 13.71 g/t Au from 1993 to 19951. Historical drilling by a previous operator in 2002, 2008 and 2009 in unmined areas returned a minimum grade of 10 g/t Au, demonstrating the continuation of the vein system to the east to form a 2 km long corridor of known high-grade mineralization. The area was subject to additional mine development in 2009 to within 50 m of the unmined East Bain vein, allowing for ease of potential future underground and mining access.

In 2021, Cassiar Gold drilled a total of 14 drill holes at the Bain vein target, 11 of which were drilled to completion (three holes were abandoned due to challenging drill conditions). These drill holes tested gaps in the known 2 km long mineralized corridor as well as extensions to it and affirmed continuity of mineralization. Results from the first six completed drillholes were disclosed in Cassiar Gold news on October 12, 2021, highlighted by intercepts of 4.8 m of 35.10 g/t Au in hole 21EB-300 and 6.4 m of 12.64 g/t Au in hole 21EB-301.

About Cassiar Gold Corp.

Cassiar Gold Corp. is a Canadian gold exploration company holding a 100% interest in its flagship Cassiar Gold Property located in British Columbia, Canada. The Cassiar Gold property spans 590 km2 and consists of two main project areas: Cassiar North, which hosts a NI 43-101-compliant inferred resource estimate of 1.4Moz at 1.14 g/t Au (cutoff grade of 0.5 g/t) known as the as the Taurus Deposit and Cassiar South which hosts numerous gold showings, historical workings, and exploration prospects. Historical underground mines in the Cassiar South area have yielded over 315,000 oz of Au at average head grades of between 10 and 20 g/t Au (BC Minfile), underscoring the high potential for further discovery and expansion of bonanza-grade orogenic gold veins.

The Company also holds a 100% interest in the Sheep Creek gold camp located near Salmo, BC. The Sheep Creek gold district ranks as the third largest past-producing orogenic gold district in BC with historical gold production of 742,000 ounces gold at an average grade of 14.7 g/t gold from 1900 to 1951. Minimal exploration work has been conducted since the 1950s.

Cassiar Gold acknowledges, respects, and supports the rights of Traditional First Nations in the lands and communities where we operate.

Contact:

Shirley Anthony

Tel: 1-778-999-2771

Email: Shirley@cassiargold.com

Forward-Looking Statements

This press release may contain forward-looking statements, including those describing Cassiar Gold Corp.'s future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Cassiar Gold Corp. and its management. In particular, this news release contains forward-looking statements pertaining, directly or indirectly, to the following: regulatory conditions and the Company's ability to receive permits and regulatory approvals, mineral resource estimates and the assumptions underlying such estimates, and economic factors, business and operations strategies. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different from expectations. Although management of the Company has attempted to identify important factors that could cause actual results to differ, there is no assurance that these forward-looking statements will prove accurate, or that actual results will not vary materially from such statements. These statements speak only as of the date of this release, and the Company undertakes no obligation to publicly update or revise any forward-looking statements except as expressly required by applicable securities laws.

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