Cadillac Mines Corporation Completes Acquisition of Larder Property from Pan American Silver
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”).
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.
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.
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.”
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.
Technical Information
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.
Historic Resource
Information regarding the historical resource at the Larder Property was obtained from the report titled: Updated Mineral Resource Estimates, Larder Lake Gold Project, Larder Lake, Ontario, Canada, prepared for Gatling Exploration Inc., with an effective date of September 2, 2021. All resource estimates for the Larder Property are now considered historical in nature and are based on prior data and reports prepared by previous property owners. A qualified person has not done sufficient work yet to classify the historical estimates as current resources in accordance with current CIM categories and the Company is not treating the historical estimates as current resources. These historical estimates should not be relied upon. There is no guarantee that any of the historical estimates will be confirmed by future work. Significant data compilation, redrilling, resampling and data verification may be required by a qualified person before the historical estimates can be classified as a current resource. There can be no assurance that any of the historical mineral resources, in whole or in part, will ever become economically viable. In addition, mineral resources are not mineral reserves and do not have demonstrated economic viability. Even if classified as a current resource, there is no certainty as to whether further exploration will result in any inferred mineral resources being upgraded to an indicated or measured resource category.
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.
Advisors
Goodmans LLP acted as legal counsel to Cadillac Mines.
Forward-Looking Statements
This press release may contain forward-looking information within the meaning of applicable securities laws. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events or circumstances. Forward-looking statements include, but are not limited to, statements with respect to the anticipated benefits of the Acquisition, the Company’s plans for integrating and exploring the Larder Property, and the potential to verify or upgrade the historical mineral resources on the Larder Property. Forward-looking information is necessarily based on a number of opinions, estimates and assumptions that, while considered by the Company to be appropriate and reasonable as of the date of this release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause actual results to differ materially from those expressed or implied by such forward-looking information. Such factors include, among other things: business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold or certain other commodities; change in national and local governments, 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); the uncertainty inherent in historical mineral resource estimates, including the risk that historical resources may not be verified as current resources or may never become economically viable; discrepancies between actual and estimated mineral content; 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. Cadillac Mines undertakes no obligation to publicly update or review any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.
For further information, please contact:
Hannes Portmann, Chief Financial Officer
hportmann@cadillacmines.com
