Mr. Ronald Goguen reports

CANADIAN GOLD RESOURCES LTD. ANNOUNCES RECEIPT OF DRILL PERMITS FOR MAIDEN 36-HOLE, 3,000-METRE DIAMOND DRILL PROGRAM AT LAC ARSENAULT

Canadian Gold Resources Ltd. has received the required permits to commence drilling at its 100-per-cent-owned Lac Arsenault gold project, located on the Gaspe peninsula, Quebec. The maiden drill program, expected to commence on or around Nov. 17, 2025, will consist of a minimum of 36 drill holes totalling approximately 3,000 metres.

The objectives of the program include:

• Establishing a modern, National Instrument 43-101-compliant database of assay and quality assurance/quality control results to validate and advance the historical resource model at the Baker vein and Mersereau vein. Historical drilling outlined near-surface gold mineralization but predates current reporting standards. The new program will twin select holes and complete stepout 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 vein 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 survey and geophysics work to refine drill targeting. The data will guide stepout 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 chief executive officer of Canadian Gold Resources. "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 a continuing induced polarization 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 on Quebec's Gaspe region, lies along the Grand Pabos fault within the Gaspe-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, Que., offering excellent road, power and rail infrastructure within one of Canada's most established mining jurisdictions.

Historical resource estimate disclosure (National Instrument 43-101, Section 2.4):

• L. Stevenson (1975): 40,000 tonnes grading 15.43 grams per tonne gold and 197 g/t silver (Esso Minerals Canada);
• R. Cote (1996): 199,580 tonnes grading 9.59 g/t Au (approximately 61,536 contained ounces gold).

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 predate the adoption of current Canadian Institute of Mining, Metallurgy and Petroleum definition standards (2014) and therefore cannot be directly compared with modern resource categories (that is, 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.

Qualified person statement

The scientific and technical information in this news release has been reviewed and approved by Mark Smethurst, PGeo, director of Canadian Gold, a qualified person under NI 43-101.

About Canadian Gold Resources Ltd.

Canadian Gold Resources is a junior exploration company advancing three high-grade gold properties totalling approximately 16,000 hectares in Quebec's Gaspe 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 record in discovery and project advancement.

We seek Safe Harbor.