Cadillac Mines Corporation Files Final Prospectus and Announces Pricing and Upsizing of Initial Public Offering to $385 Million

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Supplemented PREP prospectus and any amendment will be accessible through SEDAR+ within two business days

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

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TORONTO, July 23, 2026 (GLOBE NEWSWIRE) — Cadillac Mines Corporation (“Cadillac Mines” or the “Company”) today announced the pricing and upsizing of its initial public offering of 47,075,000 common shares of the Company (the “Offered Common Shares”) at a price of $6.90 per Offered Common Share (the “CS Offering Price”) and 6,303,000 special flow-through shares of the Company (the “Special FT Shares” and, together with the Offered Common Shares, the “Offered Shares”) at a price of $9.52 per Special FT Share (the “Special FT Offering Price”) for total gross proceeds of approximately $385 million (the “Offering”). The Company has filed and obtained a receipt for a final base PREP prospectus (the “Final Prospectus”) from the securities regulatory authorities in each of the provinces and territories of Canada. The Offering was upsized from an initial size of approximately $363 million set out in the Final Prospectus as a result of excess demand.

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The Offering consists of a treasury offering by Cadillac Mines of 18,845,000 Offered Common Shares at the CS Offering Price and 6,303,000 Special FT Shares at the Special FT Offering Price, for gross proceeds of C$190,035,060 to Cadillac Mines, and a secondary offering by certain shareholders of the Company (the “Selling Shareholders”) of 28,230,000 Offered Common Shares at the CS Offering Price, for gross proceeds of C$194,787,000 to the Selling Shareholders. The Company and the Selling Shareholders have granted to the underwriters an over-allotment option (the “Over-Allotment Option”) to purchase up to an additional 8,006,700 common shares of the Company at the CS Offering Price, exercisable in whole or part, at any one time, for a period of 30 days from the closing date of the Offering, to cover over-allotments, if any, and for market stabilization purposes. It is expected that, if the Over-Allotment Option is to be exercised by the underwriters, it would be satisfied solely out of secondary sales from the Selling Shareholders.

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The Company has also entered into a subscription agreement with Agnico Eagle Mines Limited (“Agnico”) pursuant to which Agnico has subscribed for 8,696,000 common shares of the Company at the CS Offering Price on a private placement basis (the “Agnico Private Placement”) for gross proceeds of approximately $60 million. The Agnico Private Placement is expected to close concurrently with the closing of the Offering. No commission or other fee will be paid to the underwriters or any other underwriters or agents in connection with the Agnico Private Placement.

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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.

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The Offering is being 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.

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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.

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The closing of the Offering is expected to occur on or about August 5, 2026, subject to customary closing conditions. The common shares of the Company will begin trading on the Toronto Stock Exchange (the “TSX”) on an “if, as and when issued” basis on July 24, 2026 under the symbol “CADY”. The TSX has conditionally approved the listing of the common shares, subject to fulfilling customary TSX requirements.