Dieppe, N.B. – December 29, 2025 – Canadian Gold Resources Ltd. (TSXV: CAN) (“Canadian Gold” or the “Company”) announces that it has filed a listed issuer financing document for a non-brokered listed issuer financing (the "LIFE Offering"). Following consultations with the Autorité des Marchés Financier (the "AMF"), the Company has determined that the original LIFE financing announced on October 23, 2025 along with the amended LIFE financing announced on December 8, 2025 have expired under the provisions of Part 5A of National Instrument 45-106 and, as such, the offering documents filed in relation thereto are no longer valid. Under the LIFE Offering, the Company proposes to sell up to 7,000,000 units ("NFT Units") at a price of $0.15 per NFT Unit for proceeds of $1,050,000 and up to 4,200,000 flow-through units ("FT Units") at a price of $0.18 per FT Unit for proceeds of up to $756,000 for total gross proceeds of $1,806,000. Each NFT Unit will be comprised of one (1) common share (a "Common Share") and one (1) Common Share purchase warrant of Canadian Gold (each a "Warrant"). Each FT Unit will be comprised of one (1) flow-though common share (an "FT Share") and one half (1/2) of a Warrant. The Warrant terms are as follows: commencing on the 62nd day after issuance, each whole Warrant will entitle the holder to acquire one Common Share of the Company at a price of C$0.22 per Common Share for a period of 36 months from the date of issuance, provided, however, that should the closing price at which the Common Shares trade on the TSX Venture Exchange (the "TSXV") (or any such other stock exchange in Canada as the Common Shares may trade at the applicable time) exceed $0.45 for ten (10) consecutive trading days at any time, the Company may accelerate the Warrant term (the "Reduced Warrant Term") such that the Warrants shall expire on the date which is 30 business days following the date a press release is issued by the Company announcing the Reduced Warrant Term. The restrictive exercise period on the Warrants has been imposed to ensure that the LIFE Offering complies with certain dilution restrictions under the listed issuer financing exemption. Upon closing of the LIFE Offering, the Common Share component of the NFT and FT Units will be free trading in Canada. Any Common Shares issued upon exercise of an NFT or FT Warrant after the restrictive period expires will be free trading in Canada. Subject to certain adjustments for president's list purchasers, qualified finders are entitled, on the Closing Date, to a cash commission equal to 8% of the gross proceeds of the LIFE Offering and will receive finder's warrants (each, a "Finder's Warrant") equal to 8% of the number of the NFT Units and the FT Units issued pursuant to the LIFE Offering. Each Finder's Warrant entitles the holder thereof to purchase one Common Share at a price of (a) $0.15 per Common Share for NFT Units sold; and (b) at a price of $0.18 for FT Units sold for a period of 36 months from the date of issuance, provided, however, that should the closing price at which the Common Shares trade on the TSXV (or any such other stock exchange in Canada as the Common Shares may trade at the applicable time) exceed $0.45 for ten (10) consecutive trading days at any time following the date that is four months and one day after the date of issuance, the Company may accelerate the Finder's Warrant term (the "Reduced Warrant Term") such that the Finder's Warrants shall expire on the date which is 30 business days following the date a press release is issued by the Company announcing the Reduced Warrant Term. The Finder's Warrants are subject to a hold period of four months and one day after the date of issuance. The NFT Units and the FT Units will be offered for sale in each of the provinces of Canada, except Quebec, pursuant to the listed issuer financing exemption (the "Listed Issuer Financing Exemption") under Part 5A of NI 45-106 Prospectus Exemptions and Coordinated Blanket Order 45-935 Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. The Company has filed a Form 45-106F19 (the "Offering Document") with the securities commissions or similar regulatory authorities in each of the provinces of Canada, other than Quebec. The Offering Document related to the LIFE Offering can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at https://www.cdngold.com/ . Prospective investors should read this Offering Document before making an investment decision. Non-Brokered Private Placement Due to exceptionally strong investor interest in flow-through securities, the Company will also be conducting a concurrent, non-brokered private placement (the "FT Placement Offering") of up to 7,200,000 flow-through units (the "FT Placement Units") at a price of $0.18 per FT Placement Unit for gross proceeds of up to $1,296,000. The FT Placement Units will be sold to accredited and other qualified investors in Canada under appropriate exemptions in National Instrument 45-106 Prospectus Exemptions. Each FT Placement Unit will be comprised of one (1) flow through common share and one half (1/2) of a common share purchase warrant, each whole warrant entitling the holder to acquire one non-flow through common share at a price of $0.22 per Common Share for a period of 36 months from the date of issuance provided, however, that should the closing price at which the Common Shares trade on the TSX Venture Exchange (the "TSXV") (or any such other stock exchange in Canada as the Common Shares may trade at the applicable time) exceed $0.45 for ten (10) consecutive trading days at any time, the Company may accelerate the Warrant term (the "Reduced Warrant Term") such that the Warrants shall expire on the date which is 30 business days following the date a press release is issued by the Company announcing the Reduced Warrant Term. All securities issued pursuant to FT Placement Offering will be subject to a hold period of four months plus a day from the date of issuance. Subject to certain adjustments for president's list purchasers, qualified finder's will be entitled to a cash commission equal to 8% of the gross proceeds of the FT Placement Offering and will receive finder's warrants (each, a "Finder's Warrant") equal to 8% of the number of FT Placement Units sold. Each Finder's Warrant entitles the holder thereof to purchase one Common Share at a price of $0.18 for a period of 36 months from the date of issuance, provided, however, that should the closing price at which the Common Shares trade on the TSXV (or any such other stock exchange in Canada as the Common Shares may trade at the applicable time) exceed $0.45 for ten (10) consecutive trading days at any time following the date that is four months and one day after the date of issuance, the Company may accelerate the Finder's Warrant term (the "Reduced Warrant Term") such that the Finder's Warrants shall expire on the date which is 30 business days following the date a press release is issued by the Company announcing the Reduced Warrant Term. The Finder's Warrants are subject to a hold period of four months and one day after the date of issuance. Research Capital Corporation will act as exclusive finder and sole booker runner to assist with both the LIFE Offering and the FT Placement Offering. The FT Placement Offering and a tranche of FT Units under the LIFE Offering are expected to close on or before December 31, 2025 with a final tranche of NFT Units under the LIFE Offering expected to close on or before January 31, 2026. Both the FT Placement Offering and the LIFE Offering are subject to regulatory approvals and customary closing conditions including listing of the Common Shares on the TSX Venture Exchange. The gross proceeds from the sale of the NFT Units, the FT Units and the FT Placement Units will be used for exploration and drilling on the Lac Arsenault project, the Robidoux project and VG Boulder project as well as working capital. The gross proceeds received by the Company from the sale of the FT Units and the FT Placement Units will be used to incur eligible "Canadian exploration expenses" (as defined under the Income Tax Act) that qualify as "flow-through mining expenditures" (the " Qualifying Expenditures ") related to the Company's Quebec mining properties on or before December 31, 2026, and to renounce all the Qualifying Expenditures in favour of the purchasers of the FT Units and FT Placement Units effective December 31, 2025. In the event the Company is unable to renounce Qualifying Expenditures effective on or prior to December 31, 2025 for each FT Units and FT Placement Units purchased in an aggregate amount not less than the gross proceeds raised from the issue of the FT Units and the FT Placement Units, the Company will indemnify each FT Unit and FT Placement Unit purchaser for the additional taxes payable by such purchaser as a result of the Company's failure to renounce the Qualifying Expenditures as agreed. The securities in the LIFE Offering and the FT Placement Offering 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 U.S. state securities laws, and may not be offered or sold in the United States without registration under the U.S. Securities Act and all applicable state securities laws or compliance with the requirements of an applicable exemption therefrom. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor may there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Amendments to Corporate Presentation The Company also wishes to announce that, in conjunction with the LIFE Offering and the FT Placement Offering, it has made certain amendments to its corporate presentation on its portfolio of properties. The amended presentation may be found on the Company's website at https://www.cdngold.com/ . These amendments include the deletion of certain projections which are more appropriately presented under a geological report prepared in accordance with National Instrument 43-101 and certain deficient property images.
Dieppe, N.B. – December 8, 2025 – Canadian Gold Resources Ltd. (TSXV: CAN) (“Canadian Gold” or the “Company”) announces that, further to its press releases dated October 23 and November 14, 2025, it will be conducting an amended non-brokered listed issuer financing exemption ("LIFE") private placement financing (the "Offering") through the sale of up to 12,666,667 units ("NFT Units") at a price of $0.15 per NFT Unit and up to 5,555,556 flow-through units ("FT Units") at a price of $0.18 per FT Unit for total gross proceeds of $2.9 million. The Company has engaged Research Capital Corporation (the "Finder") as exclusive finder and sole booker runner to assist with the Offering. The Offering may close in tranches with a final tranche closing (if required) expected on or before December 31, 2025 (the "Final Closing Date") and will be subject to regulatory approvals and customary closing conditions including listing of the Common Shares on the TSX Venture Exchange. Each NFT Unit will be comprised of one (1) common share (a "Common Share") and one (1) Common Share purchase warrant of Canadian Gold (each a "Warrant"). Each FT Unit will be comprised of one (1) flow-though common share (an "FT Share") and one half (1/2) of a Warrant. The Warrant terms are as follows: commencing on the 62nd day after issuance, each whole Warrant will entitle the holder to acquire one Common Share of the Company at a price of C$0.22 per Common Share for a period of 36 months from the date of issuance, provided, however, that should the closing price at which the Common Shares trade on the Toronto Venture Exchange (the "TSXV") (or any such other stock exchange in Canada as the Common Shares may trade at the applicable time) exceed $0.45 for ten (10) consecutive trading days at any time, the Company may accelerate the Warrant term (the "Reduced Warrant Term") such that the Warrants shall expire on the date which is 30 business days following the date a press release is issued by the Company announcing the Reduced Warrant Term. The restrictive exercise period on the Warrants has been imposed to ensure that the Offering complies with certain dilution restrictions under the LIFE exemption. Upon closing of the Offering, the Common Share component of the NFT and FT Units will be free trading in Canada. Any Common Shares issued upon exercise of an NFT or FT Warrant after the restrictive period expires will be free trading in Canada. The gross proceeds from the sale of NFT Units will be used for exploration and drilling on the Lac Arsenault project, the Robidoux project and VG Boulder project as well as working capital. The gross proceeds received by the Company from the sale of the FT Units will be used to incur eligible "Canadian exploration expenses" (as defined under the Income Tax Act) that qualify as "flow-through mining expenditures" (the " Qualifying Expenditures ") related to the Company's Quebec mining properties on or before December 31, 2026, and to renounce all the Qualifying Expenditures in favour of the purchasers of the FT Units effective December 31, 2025. In the event the Company is unable to renounce Qualifying Expenditures effective on or prior to December 31, 2025 for each FT Unit purchased in an aggregate amount not less than the gross proceeds raised from the issue of the FT Units, the Company will indemnify each FT Unit purchaser for the additional taxes payable by such purchaser as a result of the Company's failure to renounce the Qualifying Expenditures as agreed. The NFT Units and the FT Units will be offered for sale in each of the provinces of Canada, except Quebec, pursuant to the listed issuer financing exemption (the "Listed Issuer Financing Exemption") under Part 5A of NI 45-106 Prospectus Exemptions and Coordinated Blanket Order 45-935 Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. The Company has filed an amended and restated Form 45-106F19 (the "Offering Document") with the securities commissions or similar regulatory authorities in each of the provinces of Canada, other than Quebec. The Offering Document related to the Offering that can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at https://www.cdngold.com/ . Prospective investors should read this Offering Document before making an investment decision. Subject to certain adjustments for president's list purchasers, the Finder is entitled, on the Closing Date, to a cash commission equal to 8% of the gross proceeds of the Offering and will receive finder's warrants (each, a "Finder's Warrant") equal to 8% of the number of the NFT Units and the FT Units issued pursuant to the Offering. Each Finder's Warrant entitled the holder thereof to purchase one Common Share at a price of $0.15 per Common Share for a period of 36 months from the date of issuance, provided, however, that should the closing price at which the Common Shares trade on the TSXV (or any such other stock exchange in Canada as the Common Shares may trade at the applicable time) exceed $0.45 for ten (10) consecutive trading days at any time following the date that is four months and one day after the date of issuance, the Company may accelerate the Finder's Warrant term (the "Reduced Warrant Term") such that the Finder's Warrants shall expire on the date which is 30 business days following the date a press release is issued by the Company announcing the Reduced Warrant Term. The Finder's Warrants are subject to a hold period of four months and one day after the date of issuance. 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 U.S. state securities laws, and may not be offered or sold in the United States without registration under the U.S. Securities Act and all applicable state securities laws or compliance with the requirements of an applicable exemption therefrom. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor may there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Dieppe, N.B. – Novem ber 25, 2025 – Canadian Gold Resources Ltd. (TSXV: CAN) (“Canadian Gold” or the “Company”) is pleased to report that its maiden diamond drill program at the Lac Arsenault Project is now underway. Drill equipment has arrived on site, and the Company has completed the first drill collar. A total of 12 drill pads have been constructed to support initial drilling at the high-grade Baker Vein, forming the first phase of the Company's planned program. Canadian Gold is currently operating under a permit authorizing 36 drill holes totaling approximately 3,000 metres. As previously announced on November 14, 2025 ( Link to press release ), the Company has submitted an amended permit application to the Ministère des Ressources naturelles et des Forêts (MRNF), which is currently being reviewed. If approved, the amended permit would allow the drill program to expand to up to 60 drill holes, including approximately 15 holes designed to test new high-priority vein and stockwork-style targets identified through the recent Induced Polarization ("IP") survey. Management Commentary "Today marks an important milestone for Canadian Gold as we begin our maiden diamond drill program at Lac Arsenault," said Ron Goguen, President & CEO of Canadian Gold Resources. "The team has worked extremely hard to advance the Project to this stage, and we are pleased to have drilling underway on the Baker Vein. The recent geophysical work has significantly expanded our understanding of the structural corridor, and we believe the upcoming drill program, particularly the new targets identified through IP, has the potential to meaningfully advance the Project. We look forward to providing updates as the assay results become available, likely in the first quarter of 2026."
Dieppe, N.B. – November 4, 2025 – Canadian Gold Resources Ltd. (TSXV: CAN) (“Canadian Gold” or the “Company”) provides an operational update regarding its maiden diamond drill program and the planned 5,000-tonne bulk sampling program at the 100%-owned Lac Arsenault Project in Québec's Gaspé Peninsula, as well as recent changes to the Company's LIFE offering. Company Plans to Significantly Increase Maiden Lac Arsenault Diamond Drill Program Canadian Gold has submitted amended permit applications seeking approval to expand its maiden drill program to roughly twice the originally planned scope of 36 holes totaling 3,000 metres. This decision follows ongoing geophysical interpretation that has identified numerous high priority vein and stockwork type drill targets. The Company recently completed a tightly spaced Induced Polarization ("IP") survey across the Baker–Mersereau structural corridor. Preliminary geophysical interpretation work carried out by Jeremy S. Brett International Consulting Ltd. has identified multiple IP signatures along Line 2200N that closely resemble the response associated with the known high-grade Baker vein (please see Image 1, below). Although the Mersereau vein has not yet been fully interpreted on the current working map, its position and continuity are clearly expressed in the IP data, further reinforcing the technical rationale for expanding the drill program. In addition, possible stockwork zones have been identified up to 100m wide. These new geophysical targets, combined with a second set of drill collar locations submitted under the amended permit application, support the potential for a substantially larger first-phase drill campaign. The targets are situated within what the Company and its consultants refer to as the Stockwork Target Corridor, a near-surface (0–30 metres vertical depth) zone characterized by strong structural preparation and distinctive geophysical response. Given the strength and coherence of these new geophysical targets, the Company is evaluating a plan to materially increase the number of drill holes beyond the previously permitted minimum, with the objective of fully testing these newly defined priority areas. Management Commentary "We are very encouraged by the results of our recent Induced Polarization ("IP") Survey at Lac Arsenault," said Ron Goguen, President & CEO of Canadian Gold Resources. "The tightly spaced IP work across the Baker–Mersereau structural corridor has outlined multiple new high-priority vein and stockwork targets, some of which mirror the response of the high-grade Baker vein. The data also clearly define the continuity of the Mersereau vein. Based on these findings, we've submitted amended permits to roughly double the size of our maiden drill program to properly test these new geophysical targets." "The delay in receiving the ATI permits pushed our operating window into winter conditions", said Mr. Goguen. "Extracting and transporting material at this time of year would not be safe, or cost-effective. Out of caution we have elected to move the bulk sample into the spring of 2026. This results in only a minimal shift to the expected timing of results and any related free cash flow and we remain fully prepared to proceed as soon as conditions allow." Bulk Sample Program Deferred to Spring 2026 Due to Permitting Delays and Seasonal Access Constraints The Company is pleased to confirm that it has now obtained all permits required to execute the bulk sampling program, including the Authorization for Work in the Environment (ATI), as well as all approvals received during the recently completed First Nations consultation process. These permitting achievements represent a significant milestone for the Company and fully clear the regulatory path for bulk sample extraction. Although Canadian Gold is fully permitted and operationally ready, the start of bulk sample extraction has been rescheduled to spring 2026. The primary reason for this deferral is the later-than-expected receipt of the final ATI permit, which occurred after the Company's anticipated timeline. By the time approval was received, winter conditions in the Lac Arsenault area had already set in, with significant snowfall and ground freeze-up limiting safe and efficient field operations. Attempting to extract and transport mineralized material during winter would materially increase costs, reduce operational efficiency, and introduce unnecessary safety risks. Management has therefore determined that initiating the program in early spring 2026 is the most prudent and responsible course of action. While the timing of the physical extraction has shifted, the Company expects the financial implications of this revised schedule to be minimal. Under the previous plan, extraction was to begin in autumn 2025, with processing anticipated by mid-Q1 2026. With extraction now scheduled for spring 2026, the Company expects to receive results and related cash flow from the bulk sampling program in Q3 2026, representing only a modest adjustment to the timing of potential proceeds. IP Survey Lines, Gridded Chargeability & Planned Drill Holes
