Mr. Catalin Kilofliski reports

CANAGOLD, TAKU RIVER TLINGIT FIRST NATION TO HOST OPEN HOUSE FOR PROPOSED PERMITTING OF NEW POLARIS GOLD PROJECT

Canagold Resources Ltd. will hold an in-person open house for the entire Taku River Tlingit First Nation citizenship at the Atlin Community Centre, 217 Sinclair Ave., Atlin, B.C., to discuss the major components of the New Polaris project, where they will be located, and anticipated interactions with the surrounding environment and existing human activities.

• Wednesday, May 24, 2023 -- open house hosted by Canagold and TRTFN representatives from 9 a.m. to 1 p.m. and from 4 p.m. to 8 p.m. with on-line presentations scheduled at 11 a.m. and 6 p.m. for attendance by TRT citizens and TRTFN staff.

At the open house local participants will have the opportunity to:

• Meet the Canagold team -- Canagold chief executive officer Catalin Kilofliski will be joined by members of the company's senior technical team, to make presentations and field questions.
• Understand Canagold's commitment to establishing a solid working partnership with TRFTFN -- attendees will have a better understanding of the thorough and complex process of commitment and collaboration between Canagold and the TRTFN.
• Understand the project permitting process -- on March 29, 2023, Canagold filed the initial project description (IPD) and engagement plan submission to the B.C. EAO on behalf of the New Polaris project.
• Understand the project's rich history -- New Polaris is a past-producing gold mine, formally known as the Polaris Taku mine that operated intermittently between 1937 and 1951. Canagold itself has a 35-year history on the project leading up to the current feasibility study stage and permitting efforts.
• Review the proposed site infrastructure and components, including barge transportation logistics -- building and operating an underground gold mine requires a comprehensive and sophisticated infrastructure that respects social and environmental impacts. Attendees will have a clear view of what is proposed for New Polaris on TRTFN lands.
• Discover future job opportunities -- the development, construction, operation and reclamation New Polaris will involve hundreds of job opportunities, both technical and non-technical. The open house, as per the previous job fairs held, provides an opportunity and resources for individuals to prepare themselves with the necessary training to qualify for these jobs.

About Canagold Resources Ltd.

Canagold Resources is a growth-oriented gold exploration company focused on advancing the New Polaris project through feasibility and permitting. Canagold is also seeking to grow its assets base through future acquisitions of additional advanced projects. The company has access to a team of technical experts that can help unlock significant value for all Canagold shareholders.

We seek Safe Harbor.