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TORONTO, Ontario, Sept. 15, 2026 (GLOBE NEWSWIRE) — Cadillac Mines Corporation (TSX: CADY) (“Cadillac Mines” or the “Company”) today announced the successful completion of the previously-announced acquisition of all of the assets that comprise Pan American Silver Corp.’s (“Pan American”) Larder Property (the “Acquisition”).
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Pursuant to the binding asset purchase agreement, dated May 7, 2026, Cadillac Mines has issued 15,000,000 common shares of the Company (the “Consideration Shares”) to Pan American in exchange for all of the assets comprising the Larder Property. When combining the Consideration Shares with those Pan American purchased as part of the Company’s recently completed initial public offering, Pan American now owns approximately 6% of the issued and outstanding common shares of the Company.
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The Larder Property comprises over 6,400 hectares along the Larder Lake Cadillac Break contiguous to Cadillac Mines’ Kerr-Addison property to the west. The property includes three mineral deposits, Bear, Cheminis and Fernland, with historical resources of 388,000 ounces of indicated gold mineral resources (5.1 million tonnes at 2.39 grams per tonne gold) and 933,000 ounces of inferred gold mineral resources (6.9 million tonnes at 4.21 grams per tonne gold). With the completion of this Acquisition, Cadillac Mines’ total land position now exceeds 27,000 hectares in the Abitibi.
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Rick Howes, Chief Executive Officer of Cadillac Mines, stated, “We are excited to close this transaction and welcome Pan American as a meaningful, strategic shareholder. Adding Larder to our already robust portfolio of assets along the Cadillac Larder break increases our gold resource base, grows our land package and further enhances our regional exploration potential. We plan to deploy a number of our 11 currently active drill rigs to Larder in the near term.”
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Further details regarding the Acquisition, are included in the Company’s press release dated May 8, 2026, a copy of which can be found on the Company’s website at www.cadillacmines.com.
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Technical Information
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Scientific and technical information of Cadillac Mines contained in this press release (other than the Historic Resource below) is based upon information in the report titled “Mineral Resource Estimate NI 43-101 Technical Report Kerr-Addison Project, Ontario, Canada” with an effective date of February 27, 2026, and filed under the Company’s profile on SEDAR+ (www.sedarplus.ca). The remaining technical information (other than the Historic Resource) has been reviewed and approved by Kerry Sparkes, P.Geo, Senior Vice President Exploration, who is a Qualified Person as the term is defined in Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mineral resources are not mineral reserves and do not have demonstrated economic viability. Inferred resources are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the inferred resources would be realized.
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Historic Resource