Mr. Ken Chernin reports

DIRECTORS OF CANADIAN GOLD RESOURCES TO PARTICIPATE IN NON-BROKERED PRIVATE PLACEMENT

Canadian Gold Resources Ltd. intends to complete a non-brokered private placement of up to 1,666,667 common shares at a price of six cents per share for gross proceeds of approximately $100,000. The common shares will be issued to two directors of the company, each of whom is an accredited investor.

The company intends to use the proceeds for general working capital purposes.

The subscriptions by the directors will constitute a related-party transaction as defined under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company expects such participation will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the securities subscribed for, nor the consideration paid, will exceed 25 per cent of the company's market capitalization.

All securities issued pursuant to this placement are subject to a statutory hold period of four months and a day from the date of issuance. The placement is also subject to customary closing conditions, including, but not limited to, the receipt of all necessary approvals, including the acceptance of the TSX Venture Exchange.

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.

We seek Safe Harbor.