Mr. Ken Chernin reports

CANADIAN GOLD RESOURCES CLOSES NON-BROKERED PRIVATE PLACEMENT OF FLOW THROUGH SHARES

Canadian Gold Resources Ltd., further to its news release of July 22, 2026, has closed its previously announced non-brokered private placement of 3.2 million flow-through (FT) common shares, issued to a single arm's-length accredited investor, at a price of eight cents per FT share, for gross proceeds of $256,000.

The FT shares will be issued as flow-through shares within the meaning of Subsection 66(15) of the Income Tax Act (Canada). The proceeds from the issuance of the FT shares will be used to incur eligible resource exploration expenses that will qualify as Canadian exploration expenses (as defined in the Income Tax Act (Canada)).

In connection with the placement, the company has paid an eligible arm's-length party a cash fee in the amount of $17,920 and issued 224,000 non-transferable finder's warrants. Each finder's warrant entitles the holder to acquire one non-flow-through common share of the company at an exercise price of eight cents per finder's warrant for a period of 24 months from the date of the issuance.

All securities issued pursuant to the placement are subject to a statutory hold period of four months and a day from the date of issuance. The placement is subject to final approval by the TSX Venture Exchange.

The gross proceeds from the placement are intended to be used to advance exploration activities at the company's Robidoux property in Quebec. Continuing work includes geological mapping, prospecting and surface sampling, while the company is also preparing permit applications for its inaugural drill program at the property. Management believes Robidoux hosts significant exploration potential and looks forward to systematically advancing the project alongside its flagship Lac Arsenault property as part of the company's broader exploration strategy in the Gaspe region.

About Canadian Gold Resources Ltd.

The company is a junior exploration issuer advancing three high-grade gold properties totalling approximately 18,000 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.

Canadian Gold trades on the TSX Venture Exchange under the ticker CAN and has 58,068,876 common shares outstanding postclosing of the placement.

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