Cadillac Mines Corporation Launches Its Initial Public Offering

Not for distribution to U.S. news wire services or dissemination in the United States.

TORONTO, July 20, 2026 (GLOBE NEWSWIRE) — Cadillac Mines Corporation (“Cadillac Mines” or the “Company”) today announced the launch of its previously disclosed initial public offering (the “Offering”) of common shares and special flow-through shares of the Company (collectively, the “Offered Shares”) and commencement of its roadshow following the filing of an amended and restated preliminary base PREP prospectus (the “Amended and Restated Preliminary Prospectus”) with the securities regulatory authorities in each of the provinces and territories of Canada.

The Offering is expected to be 50,228,000 Offered Shares at a price per common share of C$6.90 and a price per special flow-through share of C$9.52. The Offering consists of a treasury offering by Cadillac Mines of 25,148,000 Offered Shares for gross proceeds of approximately C$190 million to Cadillac Mines, and a secondary offering by certain shareholders of the Company of 25,080,000 Offered Shares for gross proceeds of approximately C$173 million to such selling shareholders. The Company and/or selling shareholders have granted to the underwriters an over-allotment option to purchase up to an additional 7,534,200 common shares at a price of C$6.90, exercisable in whole or part, at any one time, for a period of 30 days from the closing date of the Offering. If the over-allotment is exercised in full, the gross proceeds from the Offering to the Company and selling shareholders will be approximately C$415 million.

The Company expects to complete a concurrent private placement treasury offering (the “Agnico Private Placement”) of 8,696,000 common shares to Agnico Eagle Mines Limited for gross proceeds of approximately C$60 million. No commission or other fee will be paid to the underwriters or any other underwriters or agents in connection with the Agnico Private Placement.

The Company recently changed its name from Gold Candle Ltd. to Cadillac Mines Corporation to better reflect its growing presence along the Cadillac-Larder Lake Break. Cadillac Mines has also launched its new corporate website at www.cadillacmines.com, providing updated information on the Company, its projects and corporate developments.

The Offering will be made through a syndicate of underwriters led by BMO Capital Markets, National Bank of Canada Capital Markets and Stifel Canada as co-lead underwriters and joint bookrunners, and Scotiabank, Barclays Capital Canada, CIBC Capital Markets, Desjardins Securities Inc. and Ventum Financial Corp. as co-managers.

Goodmans LLP is acting as Canadian legal counsel to Cadillac Mines and Stikeman Elliott LLP is acting as Canadian legal counsel to the underwriters. Dorsey & Whitney, LLP is acting as US legal counsel to Cadillac Mines and Skadden, Arps, Slate, Meagher & Flom LLP is acting as U.S. legal counsel to the underwriters.

The Amended and Restated Preliminary Prospectus contains important information relating to the Company, the Offered Shares and the Offering and remains subject to amendment and completion. Copies of the Amended and Restated Preliminary Prospectus and any amendment will be available on SEDAR+ at www.sedarplus.com. An electronic or paper copy of the Amended and Restated Preliminary Prospectus and any amendment may be obtained, without charge, from BMO Capital Markets by mail at BMO Capital Markets, Brampton Distribution Centre c/o The Data Group of Companies, 9195 Torbram Road, Brampton, Ontario, L6S 6H2 by telephone at 905-791-3151 Ext 4312 or by email at torbramwarehouse@datagroup.ca, or from National Bank of Canada Capital Markets at 130 King Street West, 4th Floor Podium, Toronto, Ontario, M5X 1J9, by telephone at 416-869-8414, or by email at NBF-Syndication@bnc.ca, or from Stifel Canada at 161 Bay Street, Suite 3800, Toronto, Ontario, M5J 2S1, by telephone at 416-367-8600, or by email at syndprospectus@stifel.com.

The Amended and Restated Preliminary Prospectus has not yet become final for purposes of a distribution of securities to the public. No securities regulatory authority has either approved or disapproved the contents of this news release. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale or any acceptance of an offer to buy these securities in any province or territory of Canada prior to the time a receipt for the final base PREP prospectus or other authorization is obtained from the securities regulatory authority in such province or territory.

The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws. Accordingly, the securities may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Cadillac Mines in any jurisdiction in which such offer, solicitation or sale would be unlawful.

The Common Shares of the Company have been conditionally approved for listing on the Toronto Stock Exchange (the “TSX”) under the symbol “CADY”. Listing is subject to the Company fulfilling all of the listing requirements of the TSX on or before October 15, 2026, including distribution of the Offered Shares to a minimum number of public securityholders. Closing is conditional upon the common shares being approved for listing on the TSX.

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.

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 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 risks and uncertainties include, but are not limited to, failure to complete the Offering and the factors discussed under “Risk Factors” in the Amended and Restated Preliminary Prospectus. 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