canadian-gold-resources

CANADIAN GOLD RESOURCES ANNOUNCES PLANNED LEADERSHIP TRANSITION; KENNETH CHERNIN APPOINTED INTERIM PRESIDENT AND CEO

Wed, 06 May 2026 21:00:00 GMT

Dieppe, N.B. – May 6, 2026 – Canadian Gold Resources Ltd. (TSXV: CAN) ("Canadian Gold" or the "Company") announces that Ron Goguen Sr. has stepped down from his role as President and Chief Executive Officer as part of a planned leadership transition. Mr. Goguen was a founder of Canadian Gold Resources and played a key role in establishing the Company and advancing its exploration strategy in the Gaspé Peninsula region of Québec. The Board of Directors wishes to extend the Company's sincere thanks to Mr. Goguen for his dedication in directing and managing the Company. Mr. Goguen will continue to provide guidance as the Chairman of the Board of Directors. The Board of Directors has appointed Kenneth Chernin as Interim President and Chief Executive Officer, effective immediately.

Ron Goguen, Chairman of the Board commented:

“It has been a privilege to help found Canadian Gold Resources and work with a talented group of professionals in advancing the Company’s projects. I believe the Company has built a strong foundation and I look forward to continuing to support the Company in my role as Chairman as the team works to unlock the potential of its assets in the Gaspé region.”

Kenneth Chernin brings more than 20 years of experience in capital markets, including roles as a sell-side equity research analyst and senior executive in investor relations and corporate development, with much of his career focused on the mining industry. Since July 2025, Mr. Chernin has served as Vice President of Corporate Development for Canadian Gold Resources, where he has been involved in advancing the Company’s corporate strategy and capital markets initiatives.

Ken Chernin, Interim President and CEO, commented:

“Canadian Gold Resources has assembled a compelling land position in the Gaspé Peninsula, and we believe the Company is entering an exciting period with several important catalysts ahead. Our immediate focus is clear: advancing our ongoing exploration programs, strengthening corporate execution, and delivering results and milestones to shareholders in a disciplined and timely manner. I would also like to thank Ron for his leadership and contributions to the Company, and I look forward to continuing to benefit from his experience and guidance as Chairman.”

The Company expects to provide additional updates on its exploration programs, including results from its drilling activities at Lac Arsenault, in the near term as results become available.

About Canadian Gold Resources Ltd.

Canadian Gold Resources Ltd. (TSXV: CAN) is a junior exploration company advancing three high-grade gold properties totaling ~16,000 hectares in Québec's Gaspé Peninsula. The Company's strategy is to unlock the potential of historically explored assets through modern exploration and development, supported by a management team with a proven track record in discovery and project advancement.

For further information, please contact:

Ken Chernin

Interim President & Chief Executive Officer

Canadian Gold Resources Ltd.

ken.chernin@cdngold.com

+1 (416) 846-7373

Investor Relations
�� investors@cdngold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Canadian Gold trades on the TSX Venture Exchange under the ticker CAN and has 54,868,876 common shares outstanding.

Forward-Looking Statements

This news release contains “forward-looking statements,” including but not limited to statements regarding the Company’s strategic objectives and anticipated growth. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties that may cause actual results to differ materially. Readers are cautioned not to place undue reliance on these statements. The Company disclaims any obligation to update or revise any forward-looking information, except as required by applicable securities laws.

Canadian Gold Resources Strengthens Board with Capital Markets Veteran Kenneth Chernin

Tue, 28 Apr 2026 04:41:18 GMT

Dieppe, N.B. – April 28, 2026 – Canadian Gold Resources Ltd. (TSXV: CAN) ("Canadian Gold" or the "Company") is pleased to announce the appointment of Kenneth Chernin to its Board of Directors, effective immediately.

Mr. Chernin brings over 20 years of capital markets, investor relations, and equity research experience, with deep expertise in the mining sector. His career spans senior advisory and investor relations leadership roles with publicly listed companies on the TSX and NYSE.

Mr. Chernin is the Founder and Principal of Parr Capital Advisors, a strategic advisory firm focused on advising emerging and growth-stage companies. He previously served as Head of Investor Relations at IAMGOLD Corporation, where he was responsible for leading institutional investor engagement and enhancing market positioning, and at Empire Company Limited. He began his career as a sell-side equity research analyst covering the mining and consumer sectors. He holds an MBA from the Rotman School of Management, University of Toronto.

Management Commentary
Ron Goguen, President and CEO of the Company, commented: "Ken brings a rare combination of capital markets insight and mining sector expertise at a pivotal time for the Company. As we advance the Lac Arsenault Project and position the Company for its next phase of growth, his experience in attracting institutional capital and enhancing market visibility will be a significant advantage to shareholders."

The Company continues to evaluate strategic initiatives to enhance shareholder value alongside its ongoing exploration activities.

About Canadian Gold Resources Ltd.

For further information, please contact:

Ronald J. Goguen
President & CEO, Director
Canadian Gold Resources Ltd.
�� rongoguen@cdngold.com

�� +1 (506) 857-4090

Investor Relations
�� investors@cdngold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Canadian Gold trades on the TSX Venture Exchange under the ticker CAN and has 54,868,876 common shares outstanding.

Forward-Looking Statements

This news release contains "forward-looking statements," including but not limited to statements regarding anticipated exploration activities, timing, objectives, and potential outcomes of the drill program. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties that may cause actual results to differ materially. Readers are cautioned not to place undue reliance on these statements. Canadian Gold disclaims any obligation to update or revise any forward-looking information, except as required by applicable securities laws.

Canadian Gold Resources Ltd. Announces Adoption of Quarterly Reporting Exemption Under Coordinated Blanket Order 51-933

Tue, 21 Apr 2026 17:21:10 GMT

Dieppe, N.B. – April 21, 2026 – Canadian Gold Resources Ltd. (TSXV: CAN) ("Canadian Gold" or the "Company") announces adoption of semi-annual financial reporting ("SAR"). This news release is being issued and filed pursuant to Coordinated Blanket Order 51-933 Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers ("CBO 51-933").

CBO 51-933 allows eligible venture issuers to voluntarily move from a quarterly to a semi-annual financial reporting framework. By adopting SAR, Canadian Gold aims to reduce the administrative and financial burden associated with quarterly reporting allowing management to focus its resources on the Company's exploration and development programs.

As a result of adopting SAR, the Company will not file interim financial statements and related Management's Discussion and Analysis ("MD&A") for the three-month period ending March 31 and the nine-month period ending September 30 of each applicable fiscal year. Canadian Gold will continue to file audited annual financial statements (due within 120 days of December 31) and six-month interim financial reports and related MD&A (due within 60 days of June 30).

The Company remains committed to timely and transparent disclosure and will continue to report all material changes and significant developments as required under National Instrument 51-102 - Continuous Disclosure Obligations.

About Canadian Gold Resources Ltd.

Qualified Person Statement

The scientific and technical information in this news release has been reviewed and approved by Mark Smethurst, P.Geo., Director of Canadian Gold and a Qualified Person under NI 43-101.

For further information, please contact:

Ronald J. Goguen
President & CEO, Director
Canadian Gold Resources Ltd.
�� rongoguen@cdngold.com

�� +1 (506) 857-4090

Investor Relations
�� investors@cdngold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Canadian Gold trades on the TSX Venture Exchange under the ticker CAN and has 54,868,876 common shares outstanding.

Forward-Looking Statements

Canadian Gold Resources Completes Maiden Drill Program at Lac Arsenault and Commences 2026 Drilling Program

Tue, 10 Feb 2026 06:33:28 GMT

Dieppe, N.B. – February 10, 2026 – Canadian Gold Resources Ltd. (TSXV: CAN) ("Canadian Gold" or the "Company") is pleased to provide an operational update on its maiden 2025 diamond drill program at the Company's 100%-owned Lac Arsenault Project in Québec's Gaspé Peninsula. The Company is also pleased to announce that it has initiated its 2026 Lac Arsenault diamond drilling program.

2025 Maiden Lac Arsenault Diamond Drilling Program

The Company's maiden diamond drilling program was completed on December 23, 2025. Drill core samples have been submitted to an accredited laboratory for assay, with results expected in the second half of February. The 58-hole program was designed to validate historical drill data, assess the continuity of mineralization, and provide a basis for a maiden NI 43-101-compliant mineral resource estimate. Detailed core logging indicates that mineralization intersected in the first phase of drilling is consistent with surface observations and is characterized by major vein structures accompanied by stockwork-style arrays of subsidiary veins developed within a shear zone. Similar subsidiary veins have historically returned gold-bearing assays. However, historical drilling results are not necessarily indicative of the presence or continuity of mineralization that may be encountered in the Company's current drilling program, and there can be no assurance that comparable results will be achieved.

2026 Lac Arsenault Diamond Drilling Program

In early January, the Company initiated its 2026 Lac Arsenault diamond drilling program, which is anticipated to encompass approximately 40 drill holes. Current drilling is focused on targets generated from an Induced Polarization ("IP") survey completed in September, which delineated the zone hosting major vein systems and associated stockwork-style veining.

The IP survey was completed across the Baker-Mersereau structural corridor, where preliminary interpretation has identified multiple high-priority anomalies that closely resemble the geophysical response associated with the known high-grade Baker vein. The data also outlines the position and continuity of the Mersereau vein and highlights possible near-surface stockwork zones up to 100 metres wide within what the Company refers to as the Stockwork Target Corridor.

Management Commentary

Ron Goguen, President and CEO of Canadian Gold Resources, commented: "Completion of our maiden drill program represents an important milestone for Canadian Gold and provides the foundation for advancing Lac Arsenault toward a maiden NI 43-101-compliant mineral resource. With assays pending and a second drill program now underway targeting high-priority IP anomalies along the Baker-Mersereau structural corridor, we believe the Company is well positioned to continue evaluating the scale and continuity of mineralization across this emerging gold system."

About Canadian Gold Resources Ltd.

Qualified Person Statement

The scientific and technical information in this news release has been reviewed and approved by Mark Smethurst, P.Geo., Director of Canadian Gold and a Qualified Person under NI 43-101.

For further information, please contact:

Ronald J. Goguen
President & CEO, Director
Canadian Gold Resources Ltd.
�� rongoguen@cdngold.com

�� +1 (506) 857-4090

Investor Relations
�� investors@cdngold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Canadian Gold trades on the TSX Venture Exchange under the ticker CAN and has 36,667,221 common shares outstanding.

Forward-Looking Statements

About the Lac Arsenault Project
The Lac Arsenault Property, located in Québec's Gaspé region, lies along the Grand Pabos Fault within the Gaspé-Newfoundland tectonic belt. This structure is interpreted to share geological characteristics with prolific gold-bearing systems such as the Cadillac-Larder Lake Fault Zone in Abitibi and the Cape Ray-Valentine Lake Shear Zone in Newfoundland. The property hosts several high-grade, epithermal-style vein systems, including the Baker, Mersereau, and Dunning veins, with historical exploration outlining significant gold-silver-base metal mineralization that provides a strong platform for the Company's current work. Covering more than 3,600 hectares, Lac Arsenault is strategically located near tidewater at New Richmond, Québec, offering excellent road, power, and rail infrastructure within one of Canada's most established mining jurisdictions.

Historical Resource Estimate Disclosure (NI 43-101 2.4)

Stevenson, L. (1975): 40,000 tonnes grading 15.43 g/t Au and 197 g/t Ag (Esso Minerals Canada).
Côté, R. (1996): 199,580 tonnes grading 9.59 g/t Au (~61,536 contained oz Au).

These historical estimates predate NI 43-101 and were based on sampling, trenching, and drilling using manual polygonal methods. A Qualified Person has not completed sufficient work to classify the estimates as current mineral resources or reserves. The Company is not treating them as current and further verification is required.

These historical estimates pre-date the adoption of current CIM Definition Standards (2014) and therefore cannot be directly compared to modern resource categories (i.e., "Inferred," "Indicated," or "Measured"). The terminology and estimation methodologies used at the time are not compliant with current CIM categories, and no classification equivalence is implied.

The Company considers these historical estimates to be relevant, as they demonstrate the presence of significant gold and silver mineralization at shallow depths within the Baker and Mersereau vein systems, which remain priority targets for verification and expansion. However, their reliability is uncertain because the underlying data, methods, and QA/QC procedures are not adequately documented to current standards. The Company is not treating the estimate as current.

To the Company's knowledge, there are no more recent mineral resource estimates available for the Lac Arsenault Property that would supersede these historical figures.

To bring these into compliance, Canadian Gold plans to:

Conduct systematic drilling to confirm grades and geometry;
Complete verification sampling and density determinations;
Build a validated geological model with modern QA/QC protocols;
Commission an independent NI 43-101 compliant resource estimate.

Canadian Gold Resources (CAN) Announces Sale of Flow Through Units under LIFE Offering and Non-Brokered Private Placement

Fri, 02 Jan 2026 05:47:09 GMT

Dieppe, N.B. – January 2, 2026 – Further to its news release of December 29, 2024, Canadian Gold Resources Ltd. (TSXV: CAN) ("Canadian Gold" or the "Company") is very pleased to announce, that effective December 31, 2025, it has: (a) sold 4,083,383 flow-through units at a price of $0.18 per unit under its recently announced listed issuer financing exemption offering (the "LIFE Offering") for gross proceeds of $735,008.94; and (b) sold 7,118,272 flow-through units at a price of $0.18 per unit under a separate non-brokered private placement of flow-through units (the "FT Placement Offering") for gross proceeds of $1,281,288.96. The Company has raised a total of $2,016,297.90 between the two offerings.

Terms and characteristics of the flow-through units issued under each offering is described in detail in the Company's news release of December 29, 2025.

In connection with the LIFE Offering, the Company has paid $58,800.72 cash finder's fees and issued 326,671 finder's warrants (each a "Finder's Warrant") to eligible arm's length parties. In connection with the FT Placement Offering, the Company has paid $102,503.11 cash finder's fees and issued 569,461 Finder's Warrants to eligible arm's length parties.

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.

Closing of the LIFE Offering and the FT Placement Offering is subject to final acceptance by the TSX Venture Exchange.

For more information, visit www.cdngold.com .

About Canadian Gold Resources Ltd.

Qualified Person Statement

The scientific and technical information in this news release has been reviewed and approved by Mark Smethurst, P.Geo., Director of Canadian Gold and a Qualified Person under NI 43-101.

For further information, please contact:

Ronald J. Goguen
President & CEO, Director
Canadian Gold Resources Ltd.
�� rongoguen@cdngold.com

�� +1 (506) 857-4090

Investor Relations
�� investors@cdngold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This press release contains statements that constitute "forward-looking information" ("forward-looking information") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. Forward-looking statements in this news release include statements regarding the Offering and use of proceeds from the Offering. In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: compliance with extensive government regulations; domestic and foreign laws and regulations adversely affecting the Company's business and results of operations; and general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA.

Canadian Gold Resources Announces Filing of New Life Financing Document; Will Also Conduct Separate Non-Brokered Placement of Flow-Through Units to Accredited Investors; Amendments to Corporate Presen

Mon, 29 Dec 2025 20:44:28 GMT

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.

About Canadian Gold Resources Ltd.

Qualified Person Statement

The scientific and technical information in this news release has been reviewed and approved by Mark Smethurst, P.Geo., Director of Canadian Gold and a Qualified Person under NI 43-101.

For further information, please contact:

Ronald J. Goguen
President & CEO, Director
Canadian Gold Resources Ltd.
�� rongoguen@cdngold.com

�� +1 (506) 857-4090

Investor Relations
�� investors@cdngold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Canadian Gold trades on the TSX Venture Exchange under the ticker CAN and has 36,667,221 common shares outstanding.

Forward-Looking Statements

Certain information in this release may constitute forward-looking statements under applicable securities laws. These statements are based on assumptions and involve risks and uncertainties. Actual results may differ materially. Readers should not place undue reliance on forward-looking statements.

Canadian Gold Resources Announces Amended Non-brokered $2.9 Million LIFE Financing

Mon, 08 Dec 2025 15:37:39 GMT

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.

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.

About Canadian Gold Resources Ltd.

Qualified Person Statement

The scientific and technical information in this news release has been reviewed and approved by Mark Smethurst, P.Geo., Director of Canadian Gold and a Qualified Person under NI 43-101.

For further information, please contact:

Ronald J. Goguen
President & CEO, Director
Canadian Gold Resources Ltd.
�� rongoguen@cdngold.com

�� +1 (506) 857-4090

Investor Relations
�� investors@cdngold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Canadian Gold trades on the TSX Venture Exchange under the ticker CAN and has 36,667,221 common shares outstanding.

Forward-Looking Statements

Lac Arsenault Maiden Diamond Drill Program Underway

Tue, 25 Nov 2025 18:07:03 GMT

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."

About the Lac Arsenault Project

The Lac Arsenault Property, located in Québec's Gaspé region, lies along the Grand Pabos Fault within the Gaspé–Newfoundland tectonic belt. This structure shares geological characteristics with prolific gold-bearing systems such as the Cadillac–Larder Lake Fault Zone in Abitibi and the Cape Ray–Valentine Lake Shear Zone in Newfoundland. The property hosts several high-grade, epithermal-style vein systems, including the Baker, Mersereau, and Dunning veins, with historical exploration outlining significant gold-silver-base metal mineralization that provides a strong platform for the Company's current work. Covering more than 3,600 hectares, Lac Arsenault is strategically located near tidewater at New Richmond, Québec, offering excellent road, power, and rail infrastructure within one of Canada's most established mining jurisdictions.

Historical Resource Estimate Disclosure (NI 43-101 2.4)

Stevenson, L. (1975): 40,000 tonnes grading 15.43 g/t Au and 197 g/t Ag (Esso Minerals Canada).

Côté, R. (1996): 199,580 tonnes grading 9.59 g/t Au (~61,536 contained oz Au).

To the Company's knowledge, there are no more recent mineral resource estimates available for the Lac Arsenault Property that would supersede these historical figures.

To bring these into compliance, Canadian Gold plans to:

Conduct systematic drilling to confirm grades and geometry;

Complete verification sampling and density determinations;

Build a validated geological model with modern QA/QC protocols;

Commission an independent NI 43-101 compliant resource estimate.

Qualified Person Statement:

The scientific and technical information in this news release has been reviewed and approved by Mark Smethurst, P.Geo., Director of Canadian Gold and a Qualified Person under NI 43-101.

About Canadian Gold Resources Ltd.

Qualified Person Statement

The scientific and technical information in this news release has been reviewed and approved by Mark Smethurst, P.Geo., Director of Canadian Gold and a Qualified Person under NI 43-101.

For further information, please contact:

Ronald J. Goguen
President & CEO, Director
Canadian Gold Resources Ltd.
�� rongoguen@cdngold.com

�� +1 (506) 857-4090

Investor Relations
�� investors@cdngold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Canadian Gold trades on the TSX Venture Exchange under the ticker CAN and has 36,667,221 common shares outstanding.

Forward-Looking Statements

Canadian Gold Resources to Expand Maiden Diamond Drill Program & Provides Update on Bulk Sampling Program at Lac Arsenault, LIFE Offering Update; Disclosure Corrections

Fri, 14 Nov 2025 14:59:06 GMT

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

LIFE Offering Update

In view of the rescheduling of the bulk sampling program and expected timeframe for results to be reported, the Company will not be proceeding with its listed issuer financing exemption offering (the "LIFE Offering") as announced on October 23, 2025. The Company is currently restructuring its offering and intends to file amended and restated offering documents in the near future. A news release will be issued at that time.

Corrections to Prior Disclosure

The Company wishes to correct certain disclosure in previously issued news releases as follows:

On January 2, 2025, the Company announced that it had closed a non-brokered private placement of flow-through and non-flow through units and reported that it had issued 533,821 finder's warrants. The correct number of finder's warrants is 519,821, each warrant entitling the holder to acquire one common share of the Company at $0.25 per share for a period of 24 months.
On January 28 and February 28, 2025, the Company announced that it had granted 1,500,000 options to members of the board of directors and 500,000 options to certain officers, employees and non-investor relations consultants. The Company wishes to report that 200,000 of the options granted to non-investor relations consultants have been cancelled resulting in an aggregate grant of 1,800,000 options.

About the Lac Arsenault Project

Historical Resource Estimate Disclosure (NI 43-101 2.4)

Stevenson, L. (1975): 40,000 tonnes grading 15.43 g/t Au and 197 g/t Ag (Esso Minerals Canada).

Côté, R. (1996): 199,580 tonnes grading 9.59 g/t Au (~61,536 contained oz Au).

To the Company's knowledge, there are no more recent mineral resource estimates available for the Lac Arsenault Property that would supersede these historical figures.

To bring these into compliance, Canadian Gold plans to:

Conduct systematic drilling to confirm grades and geometry;

Complete verification sampling and density determinations;

Build a validated geological model with modern QA/QC protocols;

Commission an independent NI 43-101 compliant resource estimate.

Qualified Person Statement:

The scientific and technical information in this news release has been reviewed and approved by Mark Smethurst, P.Geo., Director of Canadian Gold and a Qualified Person under NI 43-101.

About Canadian Gold Resources Ltd.

Qualified Person Statement

The scientific and technical information in this news release has been reviewed and approved by Mark Smethurst, P.Geo., Director of Canadian Gold and a Qualified Person under NI 43-101.

For further information, please contact:

Ronald J. Goguen
President & CEO, Director
Canadian Gold Resources Ltd.
�� rongoguen@cdngold.com

�� +1 (506) 857-4090

Investor Relations
�� investors@cdngold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Canadian Gold trades on the TSX Venture Exchange under the ticker CAN and has 36,667,221 common shares outstanding.

Forward-Looking Statements

Canadian Gold Set to Launch Maiden Diamond Drill Program at Flagship Lac Arsenault Gold Property

Tue, 04 Nov 2025 13:29:06 GMT

Dieppe, N.B. – November 4, 2025 – Canadian Gold Resources Ltd. (TSXV: CAN) (“Canadian Gold” or the “Company”) is pleased to announce that the maiden diamond drill program at its 100%-owned Lac Arsenault Property, located in Québec's Gaspé region, is scheduled to commence on November 10, 2025.

The program will comprise a minimum of 3,000 metres of diamond drilling in at least 36 holes, targeting multiple high-priority zones along the Grand Pabos Fault system. The campaign is expected to span approximately four weeks, with initial assay results anticipated in Q1 2026.

Management Commentary

"Initiating our maiden drill program at Lac Arsenault is a significant step forward for Canadian Gold," said Ronald Goguen, President and CEO. "This program is designed to confirm the strength, continuity, and expansion potential of gold mineralization within this promising structural corridor—an essential step toward unlocking near-term value and advancing the project toward production readiness."

The drill program is designed to achieve several key objectives:

Modernize and validate historical data

Canadian Gold intends to establish a comprehensive, NI 43-101-compliant database integrating assay results and QA/QC protocols. The program will twin select historical holes at the Baker Vien and Mersereau Vein and complete step-out drilling to verify grades, continuity, and data integrity. These results will support the advancement of a potential NI 43-101-compliant mineral resource estimate.

Refine geological and structural understanding

Drilling will further define the geometry, grade distribution, and continuity of mineralized zones by improving the interpretation of structural and lithological controls on gold mineralization. This work will test both lateral and vertical extensions of known zones, evaluate alteration patterns, and enhance the geological model that underpins future targeting and resource expansion.

Expand mineralization along strike and at depth

Using data from recent induced polarization (IP) and geophysical surveys, the program will target extensions of the gold-bearing structures at the Baker Vien and Mersereau Vein. The focus will be on step-outs and deeper holes aimed at confirming the strike and vertical continuity of mineralization and identifying new zones of potential discovery.

About the Lac Arsenault Project

Historical Resource Estimate Disclosure (NI 43-101 2.4)

Stevenson, L. (1975): 40,000 tonnes grading 15.43 g/t Au and 197 g/t Ag (Esso Minerals Canada).

Côté, R. (1996): 199,580 tonnes grading 9.59 g/t Au (~61,536 contained oz Au).

To the Company's knowledge, there are no more recent mineral resource estimates available for the Lac Arsenault Property that would supersede these historical figures.

To bring these into compliance, Canadian Gold plans to:

Conduct systematic drilling to confirm grades and geometry;

Complete verification sampling and density determinations;

Build a validated geological model with modern QA/QC protocols;

Commission an independent NI 43-101 compliant resource estimate.

Qualified Person Statement:

The scientific and technical information in this news release has been reviewed and approved by Mark Smethurst, P.Geo., Director of Canadian Gold and a Qualified Person under NI 43-101.

About Canadian Gold Resources Ltd.

Qualified Person Statement

The scientific and technical information in this news release has been reviewed and approved by Mark Smethurst, P.Geo., Director of Canadian Gold and a Qualified Person under NI 43-101.

For further information, please contact:

Ronald J. Goguen
President & CEO, Director
Canadian Gold Resources Ltd.
�� rongoguen@cdngold.com

�� +1 (506) 857-4090

Investor Relations
�� investors@cdngold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Canadian Gold trades on the TSX Venture Exchange under the ticker CAN and has 36,667,221 common shares outstanding.

Forward-Looking Statements

Canadian Gold Resources Ltd. Announces Receipt of Drill Permits for Maiden 36-Hole, 3,000-Metre Diamond Drill Program at Lac Arsenault

Mon, 27 Oct 2025 14:04:11 GMT

Dieppe, N.B. – October 27, 2025 – Canadian Gold Resources Ltd. (TSXV: CAN) (“Canadian Gold” or the “Company”) is pleased to announce that it has received the required permits to commence drilling at its 100%-owned Lac Arsenault Gold Project, located in the Gaspé Peninsula, Québec. The maiden drill program, expected to commence on or around November 17, 2025, will consist of a minimum of 36 drill holes totaling approximately 3,000 metres.

The objectives of the program include:

Establishing a modern, NI 43-101-compliant database of assay and QA/QC results to validate and advance the historical resource model at the Baker Vien and Mersereau Vein. Historical drilling outlined near-surface gold mineralization but pre-dates current reporting standards. The new program will twin select holes and complete step-out drilling to confirm grades, continuity, and data quality in support of a potential NI 43-101-compliant mineral resource estimate.

Enhancing geological understanding of grade distribution and mineralized continuity by refining the structural and lithological controls on gold mineralization at the Baker Vien and Mersereau Vein. Drilling will test lateral and vertical extensions of mineralized zones, assess alteration patterns, and strengthen the geological model to support future resource estimation and targeting.

Testing the strike and vertical extent of known gold-bearing structures using results from the recent induced polarization (IP) survey and geophysics work to refine drill targeting. The data will guide step-out and deeper drilling aimed at extending mineralization and identifying additional zones along strike and at depth.

Management Commentary

"Our team is excited to advance the Lac Arsenault property through its first modern drill campaign," said Ronald Goguen, President and CEO of Canadian Gold Resources Ltd. "This program represents an important milestone in confirming historical mineralization and defining the broader exploration potential of this high-grade, unexplored gold system."

Canadian Gold anticipates the potential to expand the program with additional metres and drill holes as new targets are identified. These targets are being refined using data from an ongoing induced polarization (IP) survey conducted in conjunction with existing aeromagnetic (Mag) data, designed to highlight high-priority anomalies across the project area.

About the Lac Arsenault Project

The Lac Arsenault Property, located in Québec's Gaspé region, lies along the Grand Pabos Fault within the Gaspé-Newfoundland tectonic belt. This structure shares geological characteristics with prolific gold-bearing systems such as the Cadillac-Larder Lake Fault Zone in Abitibi and the Cape Ray-Valentine Lake Shear Zone in Newfoundland. The property hosts several high-grade, epithermal-style vein systems, including the Baker, Mersereau, and Dunning veins, with historical exploration outlining significant gold-silver-base metal mineralization that provides a strong platform for the Company's current work. Covering more than 3,600 hectares, Lac Arsenault is strategically located near tidewater at New Richmond, Québec, offering excellent road, power, and rail infrastructure within one of Canada's most established mining jurisdictions.

Historical Resource Estimate Disclosure (NI 43-101 2.4)

Stevenson, L. (1975): 40,000 tonnes grading 15.43 g/t Au and 197 g/t Ag (Esso Minerals Canada).

Côté, R. (1996): 199,580 tonnes grading 9.59 g/t Au (~61,536 contained oz Au).

To the Company's knowledge, there are no more recent mineral resource estimates available for the Lac Arsenault Property that would supersede these historical figures.

To bring these into compliance, Canadian Gold plans to:

Conduct systematic drilling to confirm grades and geometry;
Complete verification sampling and density determinations;
Build a validated geological model with modern QA/QC protocols;
Commission an independent NI 43-101 compliant resource estimate.

Qualified Person Statement:

The scientific and technical information in this news release has been reviewed and approved by Mark Smethurst, P.Geo., Director of Canadian Gold and a Qualified Person under NI 43-101

About Canadian Gold Resources Ltd.

For further information, please contact:

Ronald J. Goguen
President & CEO, Director
Canadian Gold Resources Ltd.
�� rongoguen@cdngold.com

�� +1 (506) 857-4090

Investor Relations
�� investors@cdngold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Canadian Gold trades on the TSX Venture Exchange under the ticker CAN and has 36,667,221 common shares outstanding.

Forward-Looking Statements

Canadian Gold Resources Announces Non-Brokered $3 Million LIFE Financing

Thu, 23 Oct 2025 17:42:01 GMT

Dieppe, N.B. – October 23, 2025 – Canadian Gold Resources Ltd. (TSXV: CAN) (“Canadian Gold” or the “Company”) announces a non-brokered listed issuer financing exemption ("LIFE") private placement financing (the "Offering") for total gross proceeds of up to $3.0 million, with up to $2,000,000 in units ("NFT Units") and up to $1,000,000 in flow-through units ("FT Units"). The Company has engaged Research Capital Corporation (the "Finder") as exclusive finder and sole booker runner to assist with the Offering.

The NFT Units are priced at $0.20 per NFT Unit. Each NFT Unit will be comprised of one (1) common share (a "Common Share") and one (1) Common Share purchase warrant of Canadian Gold (a "NFT Warrant"). Subject to the restrictive period described below, each NFT warrant is exercisable for 3 years from the Closing Date at an exercise price of $0.28 per Common Share.

The FT Units are priced at $0.30 per FT Unit. Each FT Unit will be comprised of one (1) flow-though common share (a "FT Share") and one half of one (1/2) Common Share purchase warrant of Canadian Gold (the "FT Warrant"). Subject to the restrictive period described below, each whole FT warrant will be exercisable for 3 years from the Closing Date at an exercise price of $0.40 per Common Share.

Upon closing of the Offering, the Common Share component of the NFT and FT Units will be free trading in Canada. As the Company completed a financing less than 12 months ago (see the Company's new release dated January 2, 2025), all FT and NFT Warrants in this Offering will be restricted from being exercised for a period of 61 days after closing to ensure compliance with the dilution restriction in section 5A.2(h) of the LIFE exemption in National Policy 45-106. Any Common Shares issued upon exercise of a NFT or FT Warrant after the restrictive period expires will be free trading in Canada.

The net proceeds from this Offering 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 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 National Instrument 45-106 - Prospectus Exemption. The Company has filed a Form 45-106F19 with the securities commissions or similar regulatory authorities in each of the provinces of Canada, other than Quebec.

There is an offering document related to this 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.

The Offering is expected to close on or about November 7, 2025 (the "Closing Date") and will be subject to regulatory approvals and customary closing conditions including listing of the Common Shares on the TSX Venture Exchange.

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 entitling the Finder, for a period of 3 years from the Closing Date, to acquire that number of Common Shares that is equal to 8% of the number of the NFT Units and the FT Units issued pursuant to the Offering, at an exercise price of $0.20 per Common Share.

About Canadian Gold Resources Ltd.

Qualified Person Statement

The scientific and technical information in this news release has been reviewed and approved by Mark Smethurst, P.Geo., Director of Canadian Gold and a Qualified Person under NI 43-101.

For further information, please contact:

Ronald J. Goguen
President & CEO, Director
Canadian Gold Resources Ltd.
�� rongoguen@cdngold.com

�� +1 (506) 857-4090

Investor Relations
�� investors@cdngold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Canadian Gold trades on the TSX Venture Exchange under the ticker CAN and has 36,667,221 common shares outstanding.

Forward-Looking Statements

Canadian Gold Resources to Conduct Induced Polarization Survey at Lac Arsenault Property

Tue, 16 Sep 2025 16:43:15 GMT

Dieppe, N.B. – September 16, 2025 – Canadian Gold Resources Ltd. (“Canadian Gold” or the “Company”), is pleased to announce that it has engaged Geophysique TMC to conduct an induced polarization ("IP") survey at its 100%-owned Lac Arsenault Property, located in the Gaspé region of Québec.

The survey is intended to enhance the Company's understanding of the structures that control three key mineralized zones - the Baker Vein, the Mersereau Vein, and the Type-4 Vein - and to help identify high-priority targets for future drill programs. These three veins host the historical non-NI 43-101 compliant resource estimates previously reported for the Lac Arsenault Property (please see Historical Resource Estimate Disclosure (NI 43-101 2.4), below).

The data from the IP survey will be integrated into Canadian Gold's expanding exploration dataset, which already incorporates recent surface sampling results. Mechanical trenching and sampling along the Baker and Mersereau veins returned very high grades from surface exposures, including 28.9 g/t gold and 306 g/t silver (BVA2025-004) and 22.9 g/t gold and 399 g/t silver. Complementing this, airborne magnetic survey work at Lac Arsenault has outlined major fault structures, including the Grand Pabos Fault, together with newly recognized splays and secondary structures interpreted to be important controls on the emplacement of gold-silver-lead mineralization.

Together, these results are sharpening Canadian Gold's exploration focus on high-priority targets while reinforcing the broader discovery potential across the Lac Arsenault property.

Management Commentary

"The initiation of this IP survey represents another important step in uncovering the value of our Lac Arsenault property by refining and prioritizing targets for the upcoming maiden diamond drill program," stated Ronald Goguen, President & CEO of Canadian Gold. "By applying modern geophysical techniques, we aim to validate historical results and further sharpen our understanding of the Baker, Mersereau, and Type-4 veins."

An IP survey is a geophysical technique used to measure the electrical chargeability and resistivity of subsurface materials. In exploration settings, this method can detect disseminated sulphide mineralization associated with gold and base metal systems. By mapping variations in chargeability and resistivity across the target area, the survey provides a powerful tool to refine drill targets, prioritize anomalies, and strengthen the Company's exploration model.

About the Lac Arsenault Project

The Lac Arsenault Property is located in Québec's Gaspé region along the Grand Pabos Fault, part of the Gaspé-Newfoundland tectonic belt. This structure shares geological characteristics with prolific gold-bearing systems such as the Cadillac-Larder Lake Fault Zone in Abitibi and the Cape Ray-Valentine Lake Shear Zone in Newfoundland.

The property hosts multiple high-grade, epithermal-style vein systems, including the Baker, Mersereau, and Dunning veins. Historical exploration outlined significant gold-silver-base metal mineralization, providing a strong foundation for the Company's current work.

Historical Resource Estimate Disclosure (NI 43-101 2.4)

Stevenson, L. (1975): 40,000 tonnes grading 15.43 g/t Au and 197 g/t Ag (Esso Minerals Canada).
Côté, R. (1996): 199,580 tonnes grading 9.59 g/t Au (~61,536 contained oz Au).

To bring these into compliance, Canadian Gold plans to:

Conduct systematic drilling to confirm grades and geometry;
Complete verification sampling and density determinations;
Build a validated geological model with modern QA/QC protocols;
Commission an independent NI 43-101 compliant resource estimate.

Qualified Person

Mark T. Smethurst, P.Geo., a Director of Canadian Gold Resources and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical content of this news release.

About Canadian Gold Resources Ltd.

Canadian Gold Resources Ltd. (TSXV: CAN) is a junior exploration company advancing three high-grade gold properties totaling ~16,000 hectares in Québec’s Gaspé Peninsula. The Company’s strategy is to unlock the potential of historically explored assets through modern exploration and development, supported by a management team with a proven track record in discovery and project advancement.

For further information, please contact:

Ronald J. Goguen

President & CEO, Director

Canadian Gold Resources Ltd.

�� rongoguen@cdngold.com

�� +1 (506) 857-4090

Investor Relations

�� investors@cdngold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Canadian Gold trades on the TSX Venture Exchange under the ticker CAN and has 36,667,221 common shares outstanding.

Forward-Looking Statements

Canadian Gold Resources Provides Corporate and Project Updates

Wed, 10 Sep 2025 20:38:42 GMT

Dieppe, N.B. – September 10, 2025 – Canadian Gold Resources Ltd. (“Canadian Gold” or the “Company”), is pleased to provide an update on its exploration and development activities at its 100%-owned Lac Arsenault Property located in the Gaspé region of Québec. The Company is also announcing the resignation of Ken Booth from the Board of Directors.

Applications Submitted for Lac Arsenault Maiden Drill Program

Canadian Gold has submitted permit applications to the Ministère des Ressources naturelles et des Forêts (MRNF) for its maiden diamond drilling program on the Lac Arsenault Property. The proposed program comprises 36 drill holes totalling approximately 2,345 metres, with expected drilling to begin upon permit approval. The objective of the drill program is to take the extensive historical work completed at Lac Arsenault and advance it to modern reporting standards under National Instrument 43-101.

Historical work at Lac Arsenault (1975–1996) outlined non-compliant resource estimates ranging from 40,000 tonnes at 15.43 g/t Au and 197 g/t Ag to approximately 200,000 tonnes averaging 9.59 g/t Au (~61,500 oz Au). These estimates predate NI 43-101 and cannot be relied upon as current resources, but they highlight the project’s long-recognized high-grade potential.

Through the upcoming drill program, Canadian Gold intends to:

Twin and verify historical drill holes and channel samples to confirm grades and geometry;
Apply modern QA/QC protocols to establish reliability of the data;
Generate sufficient new drilling data to support an independent mineral resource estimate prepared in accordance with NI 43-101 and CIM Definition Standards;
Convert these historical estimates into a current, compliant mineral resource that can be reported to the market, forming a strong foundation for future project development and valuation.

Management Commentary

"The submission of our first drill permit applications marks an important milestone as we move toward validating the historic high-grade results at Lac Arsenault and establishing an NI 43-101 compliant resource base,” stated Ronald Goguen, President & CEO of Canadian Gold. “We believe Lac Arsenault represents a rare opportunity in Québec, one of the world’s most proven mining jurisdictions: a project with extensive historical work, strong high-grade potential, and excellent infrastructure. By applying modern exploration standards, we are committed to unlocking this value responsibly while engaging transparently with Québec regulators and local First Nations communities.”

Update on Bulk Sampling Program

On July 15, 2025, Canadian Gold announced that it had received permits from the Government of Québec to proceed with a 5,000-tonne bulk sampling program, conditional upon the completion of three shallow water monitoring wells in the vicinity of the proposed sampling area ( See July 9, 2025 press release ) and an Autorisation pour travaux à impacts (ATI) report.

The Company is ready to drill these wells immediately; however, the Québec’s Ministère des Ressources naturelles et des Forêts (MRNF) has since requested that Canadian Gold temporarily pause while it seeks additional input from another First Nations community, located approximately 18 kilometres from the proposed bulk sampling site.

Canadian Gold has already engaged with the Gesgapegiag First Nation community, which is domiciled within the project area, providing full details of the program and receiving no opposition during the allotted feedback period. In compliance with the ATI requirements, the Company is now re-engaging with the Mi'gmawei Mawio’mi Secretariat (MMS), the political and tribal council representing the three Mi'gmaq First Nations in the Gaspé region, to ensure transparency and comply with ATI. In parallel, Canadian Gold continues to work closely with the MRNF to finalize the process and is scheduled to meet jointly with the MMS and MRNF on September 11, 2025, regarding the ATI. At this time, the Company does not anticipate a material delay to the commencement of the bulk sampling program.

Board Resignation

Mr. Ken Booth has resigned as a Director of Canadian Gold, effective immediately, to focus on other professional commitments. The Board thanks Mr. Booth for his valued contributions since the Company’s inception and wishes him every success in his future endeavours.

About the Lac Arsenault Project

The Lac Arsenault Property is located in Québec’s Gaspé region along the Grand Pabos Fault, part of the Gaspé–Newfoundland tectonic belt. This structure shares geological characteristics with prolific gold-bearing systems such as the Cadillac–Larder Lake Fault Zone in Abitibi and the Cape Ray–Valentine Lake Shear Zone in Newfoundland.

Historical Resource Estimate Disclosure (NI 43-101 2.4)

Stevenson, L. (1975): 40,000 tonnes grading 15.43 g/t Au and 197 g/t Ag (Esso Minerals Canada).
Côté, R. (1996): 199,580 tonnes grading 9.59 g/t Au (~61,536 contained oz Au).

To bring these into compliance, Canadian Gold plans to:

Conduct systematic drilling to confirm grades and geometry;
Complete verification sampling and density determinations;
Build a validated geological model with modern QA/QC protocols;
Commission an independent NI 43-101 compliant resource estimate.

Qualified Person

Mark T. Smethurst, P.Geo., a Director of Canadian Gold Resources and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical content of this news release.

About Canadian Gold Resources Ltd.

For further information, please contact:

Ronald J. Goguen

President & CEO, Director

Canadian Gold Resources Ltd.

�� rongoguen@cdngold.com

�� +1 (506) 857-4090

Investor Relations

�� investors@cdngold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Canadian Gold trades on the TSX Venture Exchange under the ticker CAN and has 36,667,221 common shares outstanding.

Forward-Looking Statements

Canadian Gold Resources Secures Permits for Exploration Bulk Sample at Lac Arsenault

Tue, 15 Jul 2025 16:11:55 GMT

Dieppe, N.B. – July 15, 2025 – Canadian Gold Resources Ltd. (TSXV: CAN) (“Canadian Gold” or the “Company”) is pleased to announce that it has received all required permits from the Government of Québec to proceed with a bulk sampling program with plans to test 5,000 tonnes of mineralized materials at its 100%-owned Lac Arsenault Gold Project, located in the Gaspé region of eastern Québec. The bulk sample is intended for exploration purposes only and is not considered a production decision.

As a condition of the permit, the Company is required to drill three (3) shallow water monitoring wells in the vicinity of the proposed sampling area to identify potential groundwater presence. If water tables are encountered, baseline water quality testing will be conducted both before and after the program. Canadian Gold fully supports this requirement as part of its commitment to responsible exploration and environmental stewardship.

Next Steps

With permits secured, Canadian Gold will now begin preparations for mobilizing personnel and equipment to site. In the coming weeks, the Company will finalize agreements with drilling, excavation, and haulage contractors, complete the required water wells, and install temporary infrastructure to support safe operations near the Baker and Mersereau veins. Once site preparation is complete, material sampling is anticipated to commence and continue for approximately three weeks. The sampled material will be transported to a third-party facility for off-site processing and analysis. Updates will be provided as results become available, including recoveries and implications for future exploration planning.

Management Commentary

Ron Goguen, President & CEO of Canadian Gold, commented:

“ Receiving this permit is a major milestone in the advancement of our Lac Arsenault Project. This program is designed to evaluate the technical and geological characteristics of the near-surface mineralization. Historical work conducted by Imperial and Esso Minerals in the 1970s reported a historical estimate of approximately 40,000 tonnes grading 15.43 g/t gold and 197 g/t silver (Stevenson, L., 1975, Geological Report on the Lac Arsenault Property, Esso Minerals Canada). A subsequent 1996 report revised the estimate to 199,580 tonnes grading 9.59 g/t gold, or approximately 61,536 contained ounces (Côté, R., 1996, Lac Arsenault Project Resource Evaluation, Unpublished Internal Report). While these historical estimates do not comply with current CIM standards, they indicate strong historical interest in this high-grade system. Additional core drilling, systematic surface sampling, and database verification will be required to validate the data and assess whether a current resource can be defined. ”

Clarification on Economic Potential

While Canadian Gold is encouraged by the opportunity to generate technical and metallurgical data from the bulk sample, no economic analysis has been completed, and there are no mineral reserves at Lac Arsenault. Any references to possible revenue from sample processing are entirely speculative and do not demonstrate economic viability. There is no production decision and no feasibility study has been conducted. Should positive results occur, proceeds may be allocated toward working capital, additional exploration, or future shareholder returns, but no production decision or dividend policy has been made at this time. There is no assurance that results will support future exploration or development decisions.

Historical Resource Estimate Disclosure (NI 43-101 2.4)

The Company refers to the following historical estimates:

Stevenson, L. (1975) – Geological Report on the Lac Arsenault Property, Esso Minerals Canada: 40,000 tonnes @ 15.43 g/t Au and 197 g/t Ag
Côté, R. (1996) – Lac Arsenault Project Resource Evaluation, Unpublished Internal Report: 199,580 tonnes @ 9.59 g/t Au (approx. 61,536 contained oz Au)

These historical estimates were based on underground sampling and trenching using manual polygonal methods. The estimates are relevant as they reflect historical interpretations, but they pre-date NI 43-101 and do not comply with current CIM Definition Standards. A Qualified Person has not completed sufficient work to classify the estimates as current mineral resources or mineral reserves. The Company is not treating the estimates as current, and further verification is required.

To bring these historical estimates into compliance with current CIM standards, the Company anticipates conducting: 

- Systematic diamond drilling to confirm historical grade and geometry of the mineralized zones; 

- Verification sampling of archived and in-situ material, if available; 

- Construction of a validated digital geological model based on modern logging and QA/QC procedures; 

- Density determinations and geostatistical analysis in accordance with current best practices; 

- Independent resource estimation by a Qualified Person using current CIM categories and estimation methods.

The Company believes the planned exploration bulk sample will provide critical geological, grade continuity, and metallurgical information to support this process.

About the Lac Arsenault Project

The Lac Arsenault Project is located in Québec’s Gaspé region and hosts multiple high-grade epithermal-style vein systems including the Baker, Mersereau, and Dunning veins. The project lies along the Grand Pabos Fault, a regional structure within the Gaspé–Newfoundland tectonic belt that shares characteristics with other productive gold systems, such as the Cadillac–Larder Lake Fault Zone (Abitibi) and the Cape Ray–Valentine Lake Shear Zone (Newfoundland), which are known to host multi-million-ounce deposits.

Surface Sample Highlights

* Historical results are cited from Stevenson (1975). These assays are not compliant with NI 43-101 and are provided for reference only. Surface samples are selective in nature and may not reflect the average grade or continuity of mineralization.

Note: The 2025 surface sample results shown above were previously disclosed in the Company’s news release dated July 9, 2025, which included complete QA/QC protocols and analytical methods in accordance with NI 43-101.

The purpose of the permitted bulk sample is to evaluate grade continuity, test metallurgical recoveries, and gather data to inform future exploration and development decisions. The Company cautions that this bulk sampling initiative is not based on a feasibility study of mineral reserves demonstrating economic or technical viability. As such, the technical and economic outcomes are uncertain, and there is a higher risk of failure. The bulk sample program is exploratory in nature.

About Canadian Gold Resources Ltd.

Canadian Gold Resources Ltd. is a Canadian junior exploration company advancing a portfolio of precious metals projects in Québec. The Company’s flagship asset is the Lac Arsenault Project, where a fully permitted bulk sampling program of up to 10,000 tonnes is now ready to get underway. Canadian Gold also holds interests in other highly prospective properties in the Gaspé Peninsula and remains committed to discovery-driven growth.

Qualified Person Statement:
The scientific and technical information in this news release has been reviewed and approved by Mark Smethurst, P.Geo., a Director of Canadian Gold and a Qualified Person as defined under NI 43-101.

For further information, please contact:

Ronald J. Goguen
President & CEO, Director
Canadian Gold Resources Ltd.
�� rongoguen@cdngold.com

�� +1 (506) 857-4090

Investor Relations
�� investors@cdngold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of applicable securities laws. These include, but are not limited to, statements regarding exploration plans, the timing and execution of the bulk sample program, and the potential results or economic implications of the program. Forward-looking statements are based on numerous assumptions and subject to known and unknown risks. There is no assurance that the bulk sample will achieve its intended objectives or lead to a compliant resource estimate or economic development. Readers are cautioned not to place undue reliance on such statements. The Company disclaims any obligation to update or revise forward-looking statements except as required by law.

Canadian Gold Resources Uncovers High-Grade Gold-Silver Mineralization in Surface Sampling at Lac Arsenault Four Best Samples Return Grades up to 28.9 g/t Gold and 452 g/t Silver

Wed, 09 Jul 2025 14:00:28 GMT

Dieppe, N.B. – July 9, 2025 – Canadian Gold Resources Ltd. (TSXV: CAN) (“Canadian Gold” or the “Company”) is pleased to report exciting new surface sampling results from its 100%-owned Lac Arsenault Property , located in Québec’s underexplored Gaspé Peninsula. This latest fieldwork, conducted in early June 2025, focused on exposing and sampling the Baker and Mersereau veins—two primary structures central to the Company’s upcoming bulk sample program.

High-grade assay results continue to validate Lac Arsenault’s strong potential to host a precious metals system, while also identifying new zones of mineralization in previously overlooked areas.

Sampling Highlights:

Sample BVA2025-004: 28.9 g/t gold, 306 g/t silver
Sample BVA2025-006: 22.9 g/t gold, 399 g/t silver, 17.8% lead
Sample Mersereau (unnumbered): 25.5 g/t gold, 447 g/t silver, 18.4% lead
Sample BVA2025-008: 5.32 g/t gold, 452 g/t silver, 25.7% lead

These grades are significant for surface sampling and support the near-surface potential for bulk-tonnage extraction.

Exploration Program Summary

The June 2025 program included mechanical trenching and sampling along the Baker and Mersereau veins. In addition to confirming historical data, new assays revealed broader zones of high-grade gold, silver, and lead mineralization than previously recognized.

Importantly, three samples from Type-4 veins —historically considered “poor in metals”—returned mineralization of economic interest. For example, Sample BV2025-002 returned:

1.29 g/t gold
39.0 g/t silver
1.04% zinc

“We consider these sample results to be significant.” said Mark Smethurst, P.Geo., VP Exploration for Canadian Gold Resources. “ Not only have we confirmed high-grade gold and silver in our primary structures, but we’re now seeing mineralization in areas that had be previously written off by prior operators. This discovery opens new potential across the property and puts us in a strong position as we advance toward bulk sampling .”

Next Steps

Permitting for the bulk sample program is underway. Additional surface work and modeling will continue in parallel to expand the understanding of mineralization throughout the vein system.

QAQC

All technical information in this release has been reviewed and approved by Mark Smethurst, P.Geo., a Director of Canadian Gold Resources who is a Qualified Person as defined under National Instrument 43-101.

The above-mentioned surface grab samples were collected from mineralized quartz veins exposed on surface. Investors are cautioned that grab samples are inherently selective and serve to prove the presence of mineralization only. Grab sample were put into sample bags, marked and sealed on-site at the sample location. The samples were then transported in secured bags directly from the sample location sites to Actlabs, Hamilton. All are ISO/IEC 17025 accredited labs. Analysis for precious metals were completed by Fire Assay. Certified standards and blanks are inserted at a rate of two standards and a blank per 10 samples, duplicates are also completed.

About Canadian Gold Resources Ltd.

Canadian Gold Resources Inc. is a Canadian-based junior exploration company focused on advancing high-grade gold and silver assets in mining-friendly jurisdictions. The Company’s flagship Lac Arsenault Project in Quebec hosts multiple gold-bearing epithermal vein systems and offers significant expansion potential through near-surface exploration and development.

For further information, please contact:

Ronald J. Goguen
President & CEO, Director
Canadian Gold Resources Ltd.
�� investors@cdngold.ca

�� +1 (506) 857-4090

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

Canadian Gold Resources Advances Bulk Sample Program Preparation and Discovers New Vein Structure at Lac Arsenault

Thu, 12 Jun 2025 15:41:36 GMT

Dieppe, N.B. – June 12, 2025 – Canadian Gold Resources Ltd. (“Canadian Gold” or the “Company”), is pleased to report the completion of key site preparation activities at its 100%-owned Lac Arsenault Gold Project, located in the Gaspé region of Quebec. As part of preparations for the upcoming bulk sample program, Company crews have conducted surface washing of outcrop exposures at both the Mersereau and Baker Veins to further delineate mineralized structures and optimize the bulk sampling plan.

The Mersereau and Baker Veins, previously highlighted in the Company’s April 22 and May 16, 2025 news releases, are known to host high-grade gold and silver mineralization. The recent washing activities have successfully enhanced surface visibility, exposed fresh mineralized rock and aided in the design of targeted extraction areas for the upcoming bulk sample.

New Discovery

During the course of this work, Canadian Gold’s geological team discovered a previously unrecognized vein structure located approximately 500 metres northwest of the Baker Vein. This new structure trends subparallel to the Baker Vein and exhibits similar quartz-carbonate veining with associated sulphides. Representative samples have been collected and will be submitted for geochemical analysis.

Mark Smethurst, P.Geo., Director and Geologist at Canadian Gold, noted:

“The work completed at Lac Arsenault over the past weeks has not only refined our bulk sampling plan but also demonstrated the untapped potential of this gold system. The exposure of clean vein surfaces has provided us with greater geological clarity and allowed us to more confidently define and prioritize our bulk sampling zones. In addition, the identification of a new vein structure to the northwest of the Baker Vein is a potentially significant development that further supports the potential scale and structural complexity of the project.”

Historical mineral showings referenced in Figure 1 are documented from previous exploration filed with Ressources naturelles et Forêts (e.g., report GM56965). While these historical grades have not been independently verified by Canadian Gold and should not be considered indicative of current or future mineral resources, they align closely with the newly interpreted structures, highlighting the region’s considerable exploration upside.

Canadian Gold continues to advance preparations for the bulk sample program and will provide further updates on the program timeline, assay results, and ongoing exploration activities in the coming weeks.

Qualified Person

Mark T. Smethurst, P.Geo., a Director of Canadian Gold Resources and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical content of this news release.

About Canadian Gold Resources Ltd.

Canadian Gold Resources Ltd. (TSXV: CAN) is a Canadian exploration company focused on developing high-grade gold projects in the Gaspé Gold Belt of Quebec. The Company targets under-explored, past-producing properties with significant growth potential, leveraging modern exploration techniques to unlock value. With a team of experienced professionals and a commitment to sustainability and community engagement, Canadian Gold Resources is well-positioned to capitalize on opportunities within this historic and promising gold region. For more information, visit www.cdngold.com .

For further information, please contact:

Investor Relations 

Email: investors@cdngold.com

Website: www.cdngold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Canadian Gold Resources Identifies Major Structural Targets from Magnetic Survey at VG Boulder Property, Quebec

Thu, 03 Apr 2025 19:16:38 GMT

Dieppe, N.B. – April 3, 2025 – Canadian Gold Resources Ltd. (“Canadian Gold” or the “Company”) (TSX.V: CAN), a Canadian exploration company focused on high-grade gold projects within Quebec’s prolific Gaspé Gold Belt, is pleased to announce the preliminary interpretation of data from its recently completed airborne magnetic survey at the wholly-owned VG Boulder Property, located on Quebec’s Gaspé Peninsula.

Survey Highlights:

Identification of multiple major fault structures, notably the precise delineation of the Grand Pabos Fault and the Rivière Garin Fault, and the delineation of a second major structure parallel to the Grand Pabos Fault.

Key structural intersections, including where the Grand Pabos and Rivière Garin Faults converge on the VG Boulder Property, along with significant splay structures that could host concentrated zones of mineralization.

Correlation of major structural targets with historical high-grade mineral showings, enhancing regional geological understanding and mineralization continuity across the Company's land holdings, including the Robidoux and Lac Arsenault projects.

Mark Smethurst, P.Geo., Director and Geologist at Canadian Gold, noted:

“The structural intersections revealed by this survey represent prime exploration targets. Such intersections often lead to intense fracturing and faulting, creating ideal geological conditions for significant gold and silver deposits. The identification of parallel structures to the Grand Pabos Fault suggests high potential zones of shearing and associated mineralization that warrant follow-up exploration.”

“The compelling structural interpretations from this survey along with the known favourable lithologies at VG Boulder underscores the exceptional exploration potential on Canadian Gold’s claims which cover 35km of the Grand Pabos Fault system,” stated Ronald Goguen, Chairman, President & CEO of Canadian Gold. “Identifying clear structural continuity greatly increases our confidence that the Company will uncover additional targets of high-grade gold and silver mineralization, and reinforces our strategic vision to create substantial value for our shareholders within the Gaspé Gold Belt.”

The Company will integrate these geophysical findings with ongoing field mapping, targeted sampling programs, and a comprehensive review of historical exploration data to further define high-potential drill targets at VG Boulder, Lac Arsenault, and adjacent properties.

Qualified Person

Mark T. Smethurst, P.Geo., a Director of Canadian Gold Resources and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical content of this news release.

About Canadian Gold Resources Ltd.

For further information, please contact:

Ronald Goguen
Chairman, President & CEO

Canadian Gold Resources Ltd.
rongoguen@cdngold.com
506-383-4274

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Canadian Gold Resources Magnetic Survey results identifies major multi-kilometer structural targets associated with historical high-grade mineralized secondary structures at Lac Arsenault Property

Tue, 25 Mar 2025 16:11:11 GMT

Dieppe, N.B. – March 25, 2025 – Canadian Gold Resources Ltd. (“Canadian Gold” or the “Company”) (TSX.V: CAN), a Canadian exploration company focused on high-grade gold projects in Quebec’s Gaspé Gold Belt, is pleased to announce the preliminary interpretation of data from the recently completed airborne magnetic survey at its wholly owned Lac Arsenault Property, located on the Gaspé Peninsula.

The survey results represent a significant exploration milestone, delivering critical structural insights and advancing the Company’s understanding of the mineralized systems along its 34-kilometre land position on the highly prospective Grand Pabos Fault.

“The promising data from Lac Arsenault reinforces the exploration potential along the Grand Pabos Fault system,” said Ronald Goguen, Chairman, President & CEO of Canadian Gold. “The identification of clear structural continuity enhances our confidence in the potential for new gold and silver discoveries across our holdings and marks a key advancement in our strategy to unlock value within the Gaspé Gold Belt.”

Highlights of the Magnetic Survey:

Multiple major fault structures identified, including precise delineation of the Grand Pabos Fault and newly recognized splay and secondary structures interpreted to be critical for gold-silver mineralization emplacement.
Key structures correlate with known historical mineral showings, including the Baker Vein (Au-Ag-Pb) and the Mersereau Vein (Au-Ag-Pb), significantly enhancing the prioritization of future drill targets.
Improved structural understanding supports regional continuity of mineralized systems across the Company’s land holdings, including the Robidoux and VG Boulder properties.

“The structural patterns emerging from the Lac Arsenault survey closely mirror those observed at Robidoux, suggesting repeating orientations of mineralized features,” said Mark Smethurst, P.Geo., Director and Geologist at Canadian Gold. “We’ve identified multiple through-going fault corridors between the Grand Pabos and Rivière faults, with associated secondary structures similar to those hosting the Baker and Mersereau veins. These findings greatly expand our exploration footprint and guide our next phases of drilling.”

The Baker and Mersereau showings are based on historical data filed with Ressources naturelles et Forêts (e.g., report GM59324). While Canadian Gold has not verified these historical results and does not rely on them, the interpreted structural continuity and historical indicators together support the region’s high mineral potential. Historical grades are not necessarily indicative of current or future mineral resources.

The Company will continue integrating this geophysical data with field mapping, sampling, and historical datasets to further refine drill targets at Lac Arsenault and adjacent projects.

Qualified Person

Mark T. Smethurst, P.Geo., a Director of Canadian Gold Resources and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical content of this news release.

About Canadian Gold Resources Ltd.

For further information, please contact:

Ronald Goguen
Chairman, President & CEO

Canadian Gold Resources Ltd.
rongoguen@cdngold.com
506-383-4274

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Canadian Gold Resources (TSXV: CAN) Terminates Investor Relations Agreement; Supplemental Information and Clarification on Option Grants

Fri, 21 Feb 2025 17:55:35 GMT

Dieppe, N.B. – February 21, 2025 – Canadian Gold Resources Ltd. ("Canadian Gold" or the "Company") (TSXV: CAN), announces that, effective as of February 21, 2025, it has terminated its investor relations agreement with Alliance Advisors, LLC (the “Agreement”) (see the Company’s news release dated January 20, 2025). As a result, the Company has withdrawn its application to TSXV to accept the Agreement.

The decision to terminate was made after careful consideration of the Company's strategic direction and continuing challenges in respect of the operating terms of the Agreement for both parties. The Company remains committed to enhancing shareholder value and will explore alternative options to ensure effective communication with its stakeholders and the broader investment community.

The Company also wishes to provide supplemental information and clarification regarding certain stock option grants originally announced on January 29, 2025, as follows: according to the terms of its stock option plan, the Company has granted, effective January 23, 2025, 1,500,000 options to members of the board of directors and 500,000 options to various officers, employees and non-investor relations consultants. Each option entitles the holder to acquire one common share of the Company at $0.25 per share for a period of 10 years. There are no vesting provisions.

For more information, visit www.cdngold.com .

About Canadian Gold Resources Ltd.

For further information, please contact:

Ronald Goguen
Chairman, President & CEO

Canadian Gold Resources Ltd.
rongoguen@cdngold.com
506-383-4274

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Canadian Gold Reveals Promising Airborne Magnetic Survey Results for Robidoux Property, Appoints Director, and Allocates Stock Options

Wed, 29 Jan 2025 13:00:00 GMT

Dieppe, N.B. – January 29, 2025 – Canadian Gold Resources Ltd . ("Canadian Gold" or the "Company") (TSX.V: CAN), a Canadian exploration company focused on developing high-grade gold projects in the Gaspé Gold Belt of Quebec, is excited to announce the preliminary interpretation of airborne magnetic survey data for its Robidoux property in Quebec’s Gaspé Peninsula.

The results represent a major milestone for the Company, providing detailed structural insights into the Robidoux property, which is part of the Company’s broader 34 km stretch along the highly prospective Grand Pabos Fault.

“The promising results from our Robidoux property survey significantly enhance the outlook for our projects along the Grand Pabos Fault system,” said Ronald Goguen, Chairman, President and CEO of Canadian Gold. "With clear structural continuity, we're confident in new gold and silver discoveries and expanding our resource base, marking a key milestone in our strategy to lead the Gaspé Gold Belt."

Key Findings:

Identified key fault structures that align with known mineral showings, structures are critical in the emplacement of gold-silver mineralization and point to significant exploration potential.

The new data has allowed for a more precise location of the Grand Pabos Fault, which was previously unclear in regional datasets. Also revealed are key splay and secondary structures offering valuable drill targets for future exploration.

The interpreted structures coincide with known showings such as the Robidoux-Appalache Au-Ag-Pb showing, and the location of the historic bulk sample. Canadian Gold Resources has not verified these historic results and is not relying on them. The Robidoux-Appalache Au-Ag-Pb showing source of historical information referred to herein is report GM58486 filed with Ressources naturelles et Forêts. The historic bulk sample source of historical information referred to herein is Fancamp press release dated March 15, 2021 referencing Fancamp press release dated March 26, 2015. Historical production grades are not an indication of existing mineral resources or grades of any existing mineral deposits.

About Canadian Gold Resources Ltd.

Canadian Gold Resources Ltd. (TSX.V: CAN) is a Canadian exploration company focused on developing high-grade gold projects in the Gaspé Gold Belt of Quebec. The Company targets under-explored, past-producing properties with significant growth potential, leveraging modern exploration techniques to unlock value. With a team of experienced professionals and a commitment to sustainability and community engagement, Canadian Gold Resources is well-positioned to capitalize on opportunities within this historic and promising gold region. For more information, visit www.cdngold.com .

For further information, please contact:

Ronald Goguen
Chairman, President & CEO of Canadian Gold Resources
rongoguen@cdngold.com
506-383-4274

Investor Relations
Susan Xu
investors@cdngold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, "FLI") within the meaning of applicable Canadian securities legislation. FLI is based on the current expectations, estimates, projections, and assumptions as of the date of this news release. All statements, other than statements of historical fact, included herein are FLI and involve various risks, uncertainties, and assumptions. Generally, FLI can be identified by terminology such as "expects," "anticipates," "believes," "estimates," "plans," "intends," "predicts," "projects," "seeks," "potential," "targets," or similar expressions suggesting future outcomes or statements regarding an outlook. FLI includes, but is not limited to, statements regarding the Company's exploration activities, anticipated economic assessments, projected production, operating costs, capital costs, potential revenues, and other forward-looking metrics related to the Robidoux Project.

FLI is provided to help readers understand management's current expectations and is not a guarantee of future results. FLI is subject to various known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied by such FLI. These risks include, but are not limited to, the accuracy of mineral grade estimates, metallurgical recovery rates, gold price fluctuations, foreign exchange rate volatility, unforeseen technical or operational challenges, regulatory changes, environmental risks, community and governmental actions, and the ability of the Company to secure required funding and approvals.

While management believes the assumptions and expectations reflected in the FLI are reasonable as of the date of this news release, no assurance can be given that such expectations will prove correct, and actual outcomes may vary materially. Readers are cautioned not to place undue reliance on FLI. The Company will only update or revise any FLI in accordance with applicable law, whether as a result of new information, future events, or otherwise and may even withdraw such FLI if it feels that such action is warranted. Such updates, revisions or withdrawals of FLI will be disclosed in such manner as required by law.

The assumptions upon which the FLI is based include, but are not limited to, geological data, historical exploration results, economic conditions, market demand for gold, and the accuracy of fixed contractual cost estimates. Additional risks and uncertainties regarding the Company's business are outlined in the Company's public disclosure documents available at www.sedarplus.ca .

“The structural trends we’re seeing on the Robidoux property are very similar to those on the Lac Arsenault property and appear to be repeating sets of orientations of structures. These structures hold mineralization in the Baker vein on the Lac Arsenault property, and hold mineralization as shown by the historic bulk sample on the Robidoux property. This suggests that the same systems may extend across both properties,” said Mark Smethurst (P.Geo.), Director and Geologist of Canadian Gold. “These similarities strengthen our belief in the mineralization potential along the Grand Pabos Fault system and provide valuable guidance as we move forward with drilling on the Robidoux, Lac Arsenault, and VG Boulder properties.”

Canadian Gold will continue to integrate these findings with additional geological data as it moves forward with exploration, positioning the Company for further discoveries in the Gaspé Gold Belt.

The Company has also appointed David Henniger to its Board of Directors, effective immediately. David Henniger is a seasoned corporate leader with extensive experience in governance and finance. He currently serves as Chairman and Director of Annapolis Group, Grand River Ironsands, and Landmark Global Financial. Henniger has held key roles including Lead Director of Crombie REIT and Chairman of Crown Life, Crownx, Jennings Capital, and Scotia Investments.

In addition, effective January 23, 2025, Canadian Gold has granted a total of 2,000,000 stock options to its Board members as part of its long-term incentive plan. These options were issued in accordance with the terms and conditions outlined in the Company’s stock option plan.

Qualified Person
Mark T. Smethurst, P.Geo., a director of Canadian Gold Resources is a qualified person as defined by NI 43-101 and has reviewed and approved the contents and technical disclosures in this press release.

Canadian Gold Resources (TSXV: CAN) Engages Alliance Advisors IR for Investor Relations Services and Retains Integral Wealth Securities as Market Maker

Mon, 20 Jan 2025 12:45:00 GMT

Dieppe, N.B. – January 20, 2025 – Canadian Gold Resources Ltd. ("Canadian Gold" or the "Company") (TSXV: CAN), Canadian exploration company focused on developing high-grade gold projects in the Gaspé Gold Belt of Quebec, is pleased to announce it has entered into an investor relations agreement (the “Alliance Agreement”) with Alliance Advisors Investor Relations (“Alliance”) and has retained Integral Wealth Securities Limited (“Integral”) to provide market-making services (the “Integral Agreement”) in accordance with TSX Venture Exchange (“TSXV”) policies. The partnerships aim to enhance Canadian Gold’s communication with the investment community and increase visibility within the resource sector.

“Partnering with Alliance and Integral marks an important milestone for Canadian Gold Resources,” Ron Goguen, Chairman, President and CEO of Canadian Gold stated. “Alliance’s strategic communication expertise, paired with Integral’s focus on improving market dynamics, will help us strengthen relationships with investors, enhance trading activity, and effectively showcase the potential of our projects.”

“We are excited to partner with Canadian Gold Resources as they continue to build momentum in the resource sector,” said Alyssa Barry, President of Alliance Advisors Investor Relations. “With a unique project portfolio and an experienced leadership team, we look forward to helping them connect with investors and effectively communicate their vision to the market.”

Pursuant to an agreement dated November 1, 2024, entered with Alliance through the acquisition of IR Labs Inc., Alliance has agreed to provide investor relations and communications services to the Company in exchange for a monthly fee of C$10,000. The services include developing and managing PR/media, social media and stakeholder relations. The term of the agreement is for a period of 12 months ending October 31, 2025.

Canadian Gold has also retained Integral Wealth Securities to provide market-making services with the objective of improving liquidity and enhancing the trading environment for the Company’s shares.

Integral Wealth Securities will trade shares of Canadian Gold on the TSX Venture Exchange in accordance with applicable policies to ensure a fair and orderly market. The Integral Agreement has an initial term of three (3) months commencing from December 1, 2024 (the “Initial Term”) and shall be renewable at the Company’s discretion on a month-to-month basis. The engagement may be terminated by the Company on 30 day’s written notice. Integral will be paid a monthly fee of C$5,500 (plus HST). There are no performance factors contained in the Integral Agreement and no security-based compensation in connection with the engagement.

Integral and its clients may acquire an interest in the securities of the Company in the future. Integral is an arm's length party to the Company. Integral will be responsible for the costs it incurs in buying and selling the Company's common shares, and no third party will be providing funds or securities for the market making activities.

The Alliance and Integral Agreements are subject to the acceptance of the TSX Venture Exchange.

For more information, visit www.cdngold.com .

About Canadian Gold Resources Ltd.

About Alliance Advisors IR

With headquarters in the U.S. and Canada, Alliance Advisors Investor Relations implements strategic IR programs to meet the specific needs of clients across diverse sectors. Leveraging industry best practices and modern investor strategies, the firm’s seasoned professionals help clients navigate complex markets, drive shareholder engagement, and support their strategic growth on a global scale. Alliance Advisors IR is a division of Alliance Advisors, a global leader in shareholder engagement and governance advisory. For more information, visit https://allianceadvisorsir.com/ .

About Integral

Integral Wealth Securities Limited is a national independent CIRO-licensed investment dealer. Founded in 2003, the firm has established capabilities in market making, wealth management and investment banking. The firm's FINRA-regulated US broker dealer affiliate, Integral Wealth Securities LLC, is engaged in investment banking and private placements. For more information, visit https://integralwealth.com/ca/ .

For further information, please contact:

Ronald Goguen
Chairman, President & CEO of Canadian Gold Resources
rongoguen@cdngold.com
506-383-4274

Investor Relations
Susan Xu
investors@cdngold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking information” (“forward-looking information”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. Forward-looking statements in this news release include statements regarding the Offering and use of proceeds from the Offering. In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: compliance with extensive government regulations; domestic and foreign laws and regulations adversely affecting the Company’s business and results of operations; and general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.

Canadian Gold Resources (TSXV: CAN) Announces Closing of Non-Brokered Private Placement of Flow-Through Units and Non Flow-Through Units

Thu, 02 Jan 2025 12:45:00 GMT

Dieppe, N.B. – January 2, 2025 – Further to its news release of December 18, 2024, Canadian Gold Resources Ltd. ("Canadian Gold" or the "Company") (TSXV: CAN) is pleased to announce it has closed a non-brokered private placement of flow through and non-flow through units (the “Offering”) for total gross proceeds of $2,345,000. The Company sold:

(i) 7,418,333 flow-through units (each, an “FT Unit”) at $0.30 per FT Unit, for gross proceeds of $2,225,500; and

(ii) 478,000 non flow-through units (each, an “NFT Unit”) at $0.25 per NFT Unit for gross proceeds of $119,500.

Each FT Unit is comprised of one (1) flow-through share in the capital of the Company (each, an “FT Share”) and one-half (1/2) of a common share purchase warrant (an “FT Warrant”). Each whole FT Warrant entitles the holder to acquire one (1) common share in the capital of the Company at a price of $0.40 per share for a period of 24 months from the date of issuance.

Each NFT Unit is comprised of one common share in the capital of the Company (each, an “NFT Share”) and one (1) common share purchase warrant (an “NFT Warrant”). Each NFT Warrant entitles the holder to acquire one (1) common share in the capital of the Company at a price of $0.35 per share for a period of 24 months from the date of issuance.

The FT Shares will qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act (Quebec) with respect to purchasers in Quebec.

Proceeds from this Offering will be used by the Company primarily for bulk sampling and exploration at the Company’s Lac Arsenault property and other high-grade gold projects in the Gaspé Gold Belt of Quebec and general working capital. Proceeds from the sale of FT Units will only be used to incur eligible “Canadian exploration expenses” in Quebec that qualify as “flow-through mining expenditures” as such terms are defined in the Income Tax Act (Canada).

In connection with the Offering, the Company has paid $159,275 cash finder’s fees and issued 533,821 finder’s warrants (each a “Finder’s Warrant”) to eligible arm’s length parties. 512,821 Finder’s Warrants entitle the holder to acquire one (1) common share in the capital of the Company at a price of $0.30 per Common Share while 21,000 Finder’s Warrants entitle the holder to acquire one (1) common share in the capital of the Company at a price of $0.25 per Common Share, all for a period of 24 months from the date of issuance.

All securities issued pursuant to the Offering will be subject to a hold period of four months plus a day from the date of issuance. Closing of the Offering is subject to final acceptance by the TSX Venture Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. 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 and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

For more information, visit www.cdngold.com .

About Canadian Gold Resources Ltd.

For further information, please contact:

Ronald Goguen
Chairman, President & CEO of Canadian Gold Resources
rongoguen@cdngold.com
506-383-4274

Investor Relations
Caroline Sawamoto
investors@cdngold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Canadian Gold Resources (TSXV: CAN) Announces Non-Brokered Private Placement of Flow-Through Units and Non Flow-Through Units

Wed, 18 Dec 2024 19:25:08 GMT

VANCOUVER, British Columbia, Dec. 18, 2024 (GLOBE NEWSWIRE) -- Canadian Gold Resources Ltd. ("Canadian Gold" or the "Company") (TSXV: CAN) (formerly “Amseco Exploration Ltd.”) is pleased to announce a non-brokered private placement (the “Offering”) of:

up to 7,500,000 flow-through units (each, an “FT Unit”), at $0.30 per FT Unit, for aggregate gross proceeds of up to $2,250,000; and
up to 1,000,000 non flow-through units (each, an “NFT Unit”), at $0.25 per NFT Unit, for aggregate gross proceeds of up to $250,000.

Each FT Unit shall be comprised of one (1) flow-through share in the capital of the Company (each, an “FT Share”) and one-half (1/2) common share purchase warrant (an “FT Warrant”). Each whole FT Warrant shall entitle the holder thereof to acquire one (1) common share in the capital of the Company at a price of $0.40 per share for a period of 24 months from the date of issuance.

Each NFT Unit shall be comprised of one common share in the capital of the Company (each, an “NFT Share”) and one (1) common share purchase warrant (an “NFT Warrant”). Each NFT Warrant shall entitle the holder thereof to acquire one (1) common share in the capital of the Company at a price of $0.35 per share for a period of 24 months from the date of issuance.

The FT Shares will qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada).

Proceeds from this Offering will be used by the Company primarily for bulk sampling and exploration at the Company’s Lac Arsenault property and other high-grade gold projects in the Gaspé Gold Belt of Quebec and general working capital. Proceeds from the sale of FT Units will only be used by the Company for eligible exploration expenditures.

In connection with the Offering, the Company may pay cash finder’s fees and finder’s options to eligible arm’s length parties.

All securities issued pursuant to the Offering will be subject to a hold period of four months plus a day from the date of issuance. Closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. 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 and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

For more information, visit www.cdngold.com .

About Canadian Gold Resources Ltd.

For further information, please contact:

Ronald Goguen
Chairman, President & CEO of Canadian Gold Resources
rongoguen@cdngold.com
506-383-4274

Investor Relations
Caroline Sawamoto
investors@cdngold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Canadian Gold Resource Expands Lac Arsenault Property Targeting High-Grade Epithermal Gold-Silver Mineralization

Mon, 16 Dec 2024 18:30:09 GMT

VANCOUVER, British Columbia, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Canadian Gold Resource Ltd. ("Canadian Gold" or the "Company”) (TSX.V: CAN) is pleased to announce the expansion of its Lac Arsenault property with the addition of 64 new claims, increasing its size by 36.62 square kilometres (3,662.2 hectares), nearly doubling the size of the existing property. This strategic acquisition targets key structural features associated with high-grade epithermal gold and silver mineralization.

Expansion and Exploration Potential

The newly staked claims encompass additional interlinking fault zones, providing excellent targets for further exploration. These areas, which have seen little prior exploration, are expected to contain further high-grade gold and silver mineralization, similar to the Baker vein discovery.

"We’re excited to expand our footprint at Lac Arsenault and explore these critical structural features that have the potential to host significant gold-silver deposits," said Ronald Goguen Chairman, President & CEO of Canadian Gold Resources. "This expansion positions us to build on our discoveries and unlock the full potential of the property."

About Canadian Gold Resources Ltd.

For further information, please contact:

Ronald Goguen
Chairman, President & CEO of Canadian Gold Resources
rongoguen@cdngold.com
506-383-4274

Investor Relations
Caroline Sawamoto
investors@cdngold.com

Forward-Looking Statements

“The discovery of interlinking fault structures at Lac Arsenault is a significant finding,” said Mark Smethurst (P.Geo.), Geologist of Canadian Gold Resources. “We believe these faults, part of the Grand Pabos and Rivière Garin systems, form dilational zones that create favorable conditions for gold and silver deposition similar to the Baker and Mersereau vein systems within our newly staked claims. These types of structures are well-known for hosting high-grade mineralization.”

About the Lac Arsenault Property
The Lac Arsenault property is situated within a regional fault system that hosts strike-slip faults and interlinking fault segments, key features for epithermal gold-silver mineralization. These structures create dilational zones that allow for the preferential flow and deposition of hydrothermal fluids, resulting in high-grade mineralization within veins like the Baker vein system. This system, rich in gold and silver, exemplifies the potential of the property for additional discoveries.

Figure 1: Strike-slip fault segments, ranging from millimeters to kilometers, can form interlinking faults that create dilational structures, which are key sites for fluid flow and hydrothermal mineralization, making them critical targets for gold and silver exploration.

Figure 2: Rock bridges between strike-slip segments can buckle under stress, forming en-echelon extensional structures, which often develop along interlinking faults. These structures are key sites for hydrothermal fluid flow and gold-silver mineralization, making them critical exploration targets.

Canadian Gold Resources Commences Trading on the TSX Venture Exchange

Thu, 12 Dec 2024 14:47:53 GMT

VANCOUVER, British Columbia, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Canadian Gold Resources Ltd. ("Canadian Gold" or the "Company") (TSXV: CAN) (formerly “Amseco Exploration Ltd.”) is pleased to announce that the common shares of the Company will officially commence trading on the TSX Venture Exchange (“TSXV”) under the trading symbol “CAN” and new CUSIP #13585U109, as of market open today, Thursday, December 12, 2024.

“The listing marks a significant milestone for Canadian Gold, providing the Company with greater access to capital markets, increased visibility, and enhanced opportunities for growth, and development,” said Ronald Goguen Chairman, President & CEO of Canadian Gold. “This listing aligns with Canadian Gold’s strategy to advance its exploration and development projects in Canada, further solidifying its position in the growing resource sector.”

Key Investment Highlights:

Near-Term Cash Flow & Dividends
Flagship Lac Arsenault project is expected to generate CAD $9 million(1) from bulk sampling activities with cash flow projected in 2025, with a significant portion of proceeds planned to be distributed as dividends to shareholders.

(1) This is forward-looking information. Readers are advised to the full forward-looking statement at the end of this news release for important details regarding assumptions, risks and uncertainties associated with such information.

High-Grade Gold Projects
Canadian Gold’s portfolio includes high-grade assets like Lac Arsenault (up to 15.43 g/t Au(2) – explored by Imperial & Esso Minerals in the mid 1970’s), Robidoux (up to 92.0 g/t Au(2)) and VG Boulder (up to 75.7 g/t Au(2)), offering strong exploration upside.

(2) These estimates are historical and has not been verified – it is not NI 43-101 compliant –additional work is required to confirm this estimate

Strategic Location
The Company controls 15,838 hectares and more than 34 km of strike along the mineral-rich Grand Pabos Fault, known for hosting significant gold deposits.

Experienced Leadership
Led by Ronald Goguen, founder of Major Drilling, the team brings over 40 years of experience in advancing exploration projects to development.

Growth & Exploration Plans
Ongoing exploration activities in 2025, including drilling and bulk sampling, aim to expand resources, and generate non-dilutive capital for further development.

About Canadian Gold Resources Ltd.

For further information, please contact:

Ronald Goguen
Chairman, President & CEO of Canadian Gold Resources
rongoguen@cdngold.com
506-383-4274

Investor Relations
Caroline Sawamoto
investors@cdngold.com

Forward-Looking Statements

Specifically, FLI contained in this news release includes statements regarding the revenue projections from a proposed bulk sample program at the Lac Arsenault Project. These projections are based on the extraction of an estimated 10,000 tonnes of material with an average grade of 15.55 grams per tonne ("g/t") gold, translating to approximately 5,000 ounces of contained gold.

Applying a metallurgical recovery rate of 80%, this yields an estimated 4,000 ounces of gold production. At an assumed gold price of USD $1,800 per ounce and a USD/CAD exchange rate of 1.25, the anticipated revenue is approximately CAD $9,000,000. The associated costs for the bulk sample program, including drilling, transportation, and processing, are projected to total approximately CAD $2,500,000, based on existing fixed contractual agreements.

Amseco Exploration Announces Definitive Agreement For Proposed Reverse Takeover Transaction With Canadian Gold Resources Ltd.

Mon, 03 Jun 2024 22:50:51 GMT

MONTREAL, June 3, 2024 /CNW/ - AMSECO EXPLORATION LTD. (TSXV: AEL.H) ("Amseco"), a mineral exploration company listed on the NEX board of the TSX Venture Exchange (the "Exchange"), is pleased to announce that further to its press release dated December 19, 2023 it has entered into a share exchange agreement with Canadian Gold Resources Ltd. ("Canadian Gold") and the shareholders of Canadian Gold (the "Canadian Gold Shareholders"), dated May 31, 2024 (the "Agreement") in respect of a proposed share acquisition of Canadian Gold (the "Transaction"). It is anticipated that the Proposed Transaction will constitute a "Reverse Takeover" of Amseco in accordance with Policy 5.2 – Changes of Business and Reverse Takeovers of the Exchange and is considered an arm's length transaction. All currency references herein are in Canadian currency unless otherwise specified.

About Canadian Gold

Canadian Gold is a private company existing under the laws of Canada with gold projects in the Gaspé gold belt in the Province of Québec. Immediately prior to closing of the Transaction, Canadian Gold shall have 20,000,000 common shares (the "Canadian Gold Shares") outstanding, excluding any securities issued pursuant to the Concurrent Financing (as defined herein).

Canadian Gold's material asset consists of its 100% interest in three gold exploration projects: (i) the Lac Arsenault property; (ii) the VG Boulder Property, and (iii) the Robidoux property (collectively, the "Properties") along the Grand Pabos Fault on the Gaspe Peninsula of Quebec. Gold mineralization in the region is known to be hosted by structures related to the Grand Pabos Fault, a major regional structure that can be traced across the entire Gaspe Peninsula and into Newfoundland where major gold discoveries have been made recently. Canadian Gold holds the Robidoux property (1,940 hectares), the VG Boulder property (5,787 hectares), and the Lac Arsenault property (4,118 hectares. The Properties combine to cover 34km along the Grand Pabos Fault system, gold is associated with major structural systems such as strike-slip faults, breccia zones, and swarm structures.

Canadian Gold considers only the Lac Arsenault property to be material in accordance with National Instrument 43-101 – Standard of Disclosure for Mineral Projects ("NI 43-101"). Subject to confirmation from the Exchange, concurrent with the completion of the Transaction and the listing of common shares of the resulting entity (the "Resulting Issuer") on the Exchange, the Resulting Issuer will file a technical report in accordance with NI 43-101 for the Lac Arsenault property.

The Properties are located in the province of Québec, Gaspé Peninsula, southwest of Gaspé Municipality accessible by logging road approximately twenty-five kilometers north of the village of Paspebiac. They are situated in a sequence of Palaeozoic (Era) metasedimentary rocks, located near the eastern end of the Aroostook-Matapedia Anticlinorium a major structural unit of the Appalachians that extends from Matapedia to Percé in Quebec. Mineralization occurs within the Honorat Group rocks, is vein type, characterized by brittle deformation and occurs in competent Ordovician (Period) Honorat Group sandstones and greywackes.

Lac Arsenault

In 1946 Walter Baker, a prospector, discovered boulders containing gold, silver and the sulphides sphalerite, galena, arsenopyrite and pyrite. This property was explored by Imperial & Esso Minerals in the mid 1970's who identified 40,000 tonnes at 15.43 g/t Au, 197.00 g/t Ag, 6.6% Pb, and 3.5% Zn in three veins exposed on surface (Baker vein, Mersereau vein, and L4W vein) (this estimate is historical and has not been verified – it is not NI 43-101 compliant –additional work is required to confirm this estimate). Historic assays of up to 1.4 oz Au/ton and 25 oz Ag/ton have been recorded. Base metal ranges from traces up to 15 percent combined Pb-Zn. Best results include 32.83 g/t Au over 0.27 m at the Baker vein. Best results from the southern part of the L4W vein include 13.5 g/t Au over 0.75m. Best results at the Mersereau vein include 39.7 g/t Au on surface. In 1986 an exploration program discovered a new Au bearing zone, Marleau vein, with an assay of 0.36 oz Au/t over 5.2 feet. The Lac Arsenault property has 93 historic drill holes totaling 7269.41m.

Summary of Financial Information

The following table presents selected financial information on the financial condition and results of operations of Canadian Gold. Such information is derived from the audited financial statements of Canadian Gold for the period of incorporation (January 22, 2023) to the year ended December 31, 2023. The interim financial statements of Canadian Gold for the three-month period ended March 31, 2024 are currently being generated and will be provided in a subsequent press release, once available. The information provided herein should be read in conjunction with Canadian Gold's financial statements, which will be contained in the filing statement to be filed on SEDAR+ in connection with the Transaction.

For further information regarding Canadian Gold, please contact Ron Goguen, President and CEO, at 506-866-4545 or rongoguen@cdngold.com .

Summary of the Proposed Transaction

Pursuant to the Agreement, in consideration for the acquisition of all the issued and outstanding common shares in the capital of Canadian Gold (the "Canadian Gold Shares"), the Company will issue 20,000,000 common shares in the capital of the Company (the "Amseco Shares") on a post-Consolidated (as defined herein) basis, at a deemed price of $0.25 per Amseco Share. The Transaction will result in the reverse takeover of Amseco by Canadian Gold. As of the date of the Agreement, Canadian Gold currently has 20,000,000 Canadian Gold Shares outstanding and nil securities convertible into Canadian Gold Shares.

The post-Consolidation Amseco Shares to be issued pursuant to the Transaction will be issued pursuant to exemptions from the prospectus requirements of applicable securities legislation. Certain common shares of the Resulting Issuer to be issued pursuant to the Proposed Transaction are expected to be subject to restrictions on resale or escrow under the policies of the Exchange, including the securities to be issued to "Principals" (as defined under the Corporate Finance Manual of the Exchange), which will subject to the escrow requirements of the Exchange. Upon completion of the Transaction, it is anticipated that the Resulting Issuer will be listed as a Tier 2 Mining Issuer on the Exchange, with Canadian Gold as its primary operating subsidiary.

Consolidation

Prior to the closing of the Transaction, Amseco will consolidate its outstanding Amseco Shares on the basis of one (1) post-consolidation Amseco Share for each 5 pre-consolidation Amseco Shares (the "Consolidation"), such that, prior to closing of the Transaction, Amseco will have approximately 2,922,854 Amseco Shares issued and outstanding on a non-diluted basis.

Name Change

It is anticipated that the Resulting Issuer will continue the business of Canadian Gold and is to be renamed "Canadian Gold Resources Ltd." or such other name as determined by Canadian Gold (the "Name Change"). The business of the Resulting Issuer will be primarily focussed on the exploration of the Property.

Conditions

The completion of the Transaction remains subject to a number of terms and conditions, among other standard conditions for a transaction of this nature, including, among other things: (i) Canadian Gold delivering a NI 43-101 compliant technical report for the Lac Arsenault property that is acceptable to the Exchange and Amseco; (ii) the delivery of audited, unaudited and pro forma financial statements of each party that are compliant with Exchange policies; (iii) no material adverse changes occurring in respect of either Amseco or Canadian Gold; (iv) the parties obtaining all necessary consents, orders and regulatory and shareholder approvals, including the conditional approval of the Exchange subject only to customary conditions of closing; (v) if required by the Exchange, delivery of a sponsor report and an independent valuation satisfactory to the Exchange; (vi) the Consolidation, Name Change and any other corporate changes requested by Canadian Gold, acting reasonably, shall have been implemented; and (vii) completion of the Concurrent Financing (as defined herein); (viii) completion of satisfactory due diligence by each party. There can be no assurance that all of the necessary regulatory and shareholder approvals will be obtained or that all conditions of closing will be met.

Concurrent Financing

In connection with the Transaction, Canadian Gold will complete a concurrent non-brokered private placement of subscription receipts ("Subscription Receipts") at a price of $0.25 per Subscription Receipt, for minimum gross proceeds of at least $1,450,000 up to a maximum of $1,700,000 (i.e., a minimum issuance of 5,800,000 Subscription Receipts up to a maximum issuance of 6,800,000 Subscription Receipts), or such other amounts as the parties agree in order for the Resulting Issuer to meet the Exchange's listing requirements (the "Concurrent Financing"). Each Subscription Receipt shall automatically convert, for no additional consideration, upon the satisfaction of escrow release conditions – including but not limited to the completion of the Transaction - into one post-Consolidation Amseco Share.

Finder's fees may be paid in connection with the Concurrent Financing within the maximum amount permitted by the policies of the Exchange.

The proceeds of the Concurrent Financing will be used to fund (i) expenses of the Transaction and the Concurrent Financing, (ii) the exploration and other expenses relating to the Lac Arsenault property, and (iii) the working capital requirements of the Resulting Issuer.

Summary of Proposed Directors and Officers of the Resulting Issuer

In conjunction with and upon closing of the Transaction, the board of directors of the Resulting Issuer are expected to consist of the following five directors: Ronald (Ron) Goguen, Ken Booth, Mark Smethurst, Roger Bourgault, and Ian McGavney. These directors shall hold office until the first annual meeting of the shareholders of the Resulting Issuer following closing, or until their successors are duly appointed or elected. The first officers of the Resulting Issuer are expected to be Ron Goguen (Executive Chairman and President), Camilla Cormier (Chief Financial Officer and Corporate Secretary), and such other officers as determined by Canadian Gold.

Biographies of the proposed directors and officers of the Resulting Issuer are provided below:

Ron Goguen, Chairman and Chief Executive Officer

Mr. Goguen purchased his first exploration drilling company, Ideal Drilling, in 1980. In 1981, he added a second exploration drilling company. Those companies were combined to become Major Drilling Group International Inc., a publicly traded company that has traded on the TSX-V since March 1995. He served as President and Chief Executive officer until 2000 and during this time was a key driving force in building Major Drilling into one of the largest mineral drilling service companies in the world (33 operations in 15 countries). Since leaving Major Drilling in 2000, Mr. Goguen was chairman and co-founder of Beaver Brook Antimony Mine Inc., which is the largest antimony mine outside China. He was a member of the board of directors of Northeast Bank of 20 years (1990 to 2010). During 1995, he was named Atlantic Canada's Entrepreneur of the year as presented by Government General of Canada.

Camilla Cormier, Chief Financial Officer and Corporate Secretary

Ms. Cormier CA, CPA has over thirty years' experience in accounting and finance including fifteen years in senior financial positions with public companies including Silver Spruce Resources Inc. and prior to then, as the Controller of Sparta Manufacturing Inc.

Ken Booth, Director

Mr. Booth holds a B.Sc. degree in Geology and an MBA. He began his career as a geologist for companies such as Falconbridge, Anaconda and Minnova. Subsequently, Mr. Booth embarked on a career in investment banking and since 1998 has been the chief executive officer of several public companies and is currently a director of two additional public exploration companies.

Mark Smethurst, Director, Technical Manager, and Geologist Consultant

Mr. Smethurst has over 25 years of experience in the mining and exploration industry, with a special focus on vetting and identifying prospect mineral properties and developing mineral resources. He obtained a master of science degree in geophysics from the University of Windsor in 1998 and is a Professional Geoscientist. From 2004-2013, Mr. Smethurst was employed in several roles ranging from Project Geologist to Vice President – Development and Exploration and was responsible for, among other things, authoring technical reports, performing property assessments and acquisitions, locating mineralization, establishing drill programs, and conducting drilling. Since 2014, Mr. Smethurst has been employed as an acquisition and valuation analyst in mining and metal where he has provided opinions, property valuations, reviewing production and growth opportunities of economically viable deposits, and drafting reports on economic mineral valuation assessments. From October 2018 to January 2021, Mark served as an independent director of Tocvan Ventures Corp., a CSE-listed issuer, and also served as its chief operating officer from December 2019 to January 2021.

Roger Bourgault, Director

Mr. Bourgault served as Chairman at Amseco Exploration Ltd. and obtained an undergraduate degree from the University of Québec in 1986.

Ian McGavney, Director

Mr. McGavney is the president and chief executive officer of Colibri Resources Corp. and founder and former president of Skype Capital Corporation and Northern Lorena Resources. He has over 20 years of experience in junior resource business development, company operations, finance, and marketing.

Sponsorship of Transaction

Sponsorship of the Transaction may be required by the Exchange unless an exemption or waiver from this requirement is obtained in accordance with the policies of the Exchange. Canadian Gold has not yet engaged a sponsor in connection with the Transaction. Canadian Gold intends to apply for a waiver from the Exchange's sponsorship requirement. Additional information on sponsorship arrangements will be provided once available.

Other Information relating to the Transaction

The Transaction is not a "related party transaction" as such term is defined by Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions and is not subject to Policy 5.9 of the Exchange.

No finder's fees are expected to be payable in connection with the Transaction.

In accordance with Exchange Policy 5.2, shareholder approval from shareholders of Amseco will not be required, as the Transaction exhibits the following characteristics: (i) the Proposed Transaction is not a related party transaction (and no other circumstances exist which may compromise the independence of Amseco or other interested parties); (ii) Amseco does not have active operations; (iii) Amseco is not subject to a cease trade order and management believes it will not be suspended from trading on completion of the Transaction; and (iv) there is no requirement to obtain shareholder approval of the Transaction (or any element thereof) under any applicable corporate or securities laws.

In accordance with the policies of the Exchange, Trading in the Amseco Shares has been halted as a result of this announcement. and will not resume trading until such time as the Exchange determines, which, depending on the policies of the Exchange, may not occur until completion of the Transaction.

Additional information concerning the Transaction, Amseco, Canadian Gold and the Resulting Issuer will be provided once determined in a subsequent news release and in the Filing Statement to be filed by Amseco in connection with the Transaction and which will be available in due course under Amseco's SEDAR profile at www.sedar.com .

About Amseco Exploration Ltd.

Amseco is a mineral exploration company focused on the acquisition, exploration and development of mineral resource properties.

For further information regarding Amseco and the Proposed Transaction, please contact Jean Desmarais, Chief Executive Officer of Amseco, at jeandesmarais@mac.com .

ON BEHALF OF THE BOARD OF DIRECTORS OF AMSECO EXPLORATION LTD.

Jean Desmarais, Director and CEO
jeandesmarais@mac.com
1-514-898-5326

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Qualified Person

Mark T. Smethurst, P.Geo., a director of Canadian Gold. is a qualified person as defined by NI 43-101 and has reviewed and approved the contents and technical disclosures in this press release. Neither Mr. Desmarais nor the Company has verified the technical information in this press release.

Completion of the Transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable pursuant to Exchange Requirements, disinterested approval. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Amseco should be considered highly speculative.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this press release.

All information contained in this news release with respect to Amseco and Canadian Gold was supplied by the parties, respectively, for inclusion herein, and Amseco and its respective directors and officers have relied on Canadian Gold for any information concerning such party.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. 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, and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. "United States" and "U.S. Person" are as defined in Regulation S under the U.S. Securities Act.

Forward Looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations (including negative and grammatical variations) of such words and phrases or state that certain acts, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".

Forward-looking information in this press release may include, without limitation, statements relating to: the completion of the Transaction and the timing thereof, the proposed business of the Resulting Issuer, degree to which historical results are reflective of actual mineral resources, the completion of the proposed Concurrent Financing and the use of proceeds therefrom, the completion a NI 43-101 technical report for the Lac Arsenault property, the proposed directors and officers of the Resulting Issuer, obtaining regulatory approvals for the Transaction, the completion of the Consolidation, the completion of the Name Change, completion of satisfactory due diligence, Exchange sponsorship requirements and intended application for exemption therefrom, shareholder and regulatory approvals, and future press releases and disclosure.

These statements are based upon assumptions that are subject to significant risks and uncertainties, including risks regarding the mining industry, commodity prices, market conditions, general economic factors, management's ability to manage and to operate the business, and explore and develop the projects, of the Resulting Issuer, and the equity markets generally. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance of each of Amseco and Canadian Gold may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although each of Amseco and Canadian Gold believes that the expectations reflected in forward looking statements are reasonable, they can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, each of Amseco and Canadian Gold disclaims any intention and assume no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

SOURCE AMSECO EXPLORATION LTD.

Jean Desmarais, Director and CEO, jeandesmarais@mac.com , 1-514-898-5326