Mr. Catalin Kilofliski reports

CANAGOLD ANNOUNCES POSITIVE ANTIMONY CONCENTRATE PRODUCTION RESULTS FOR THE NEW POLARIS PROJECT GRADING 59.1% SB AND 98.3 GPT. AU

Canagold Resources Ltd. has received positive results from antimony (Sb) flotation testing for its 100-per-cent-owned New Polaris gold-antimony project located in northwestern British Columbia, Canada.

Antimony flotation locked cycle test results

High-quality and high-recovery Sb-Au concentrate

• Sb-Au concentrate assaying 59.1 per cent Sb and 98.3 gpt Au;
• 93.1 per cent Sb recovery in Sb-Au concentrate and overall, 91.8 per cent Au recovery in the combined Au and Sb-Au concentrates.

"The feasibility study (FS) completed in July, 2025, has already demonstrated exceptional economics, with low capex and low AISC for the New Polaris gold-antimony project," stated Canagold's chief executive officer, Catalin Kilofliski. "Although antimony mining was included in the FS, no revenue from antimony has been accounted for at this stage. These new results highlight the project's ability to produce a very high-grade gold-antimony concentrate, which has the potential to create significant additional value on top of the already outstanding economics."

Flotation testing commenced in April, 2025, at Blue Coast Research Ltd. in Parksville, B.C., utilizing a 110-kilogram composite sample derived from 47 diamond drill core samples across 17 drill holes in the high-grade antimony zone. This zone is delineated in the Jan. 22, 2025, resource model.

Critical metals/antimony

• A total of 5,630 tonnes of Sb grading 0.6 per cent is included in the company's indicated MRE (mineral resource estimate) dated April 2, 2025.
• A total of 5,173 tonnes Sb is included in the FS mine plans.

The feasibility study does not currently account for any revenue from antimony, as the process flowsheet outlined in the study was specifically designed to produce a bulk sulphide concentrate.

While antimony has been known to occur at New Polaris since the early mining activities of the 1940s and 1950s, its economic importance has increased significantly in recent years due to global supply constraints and sharply rising prices.

The company will continue further metallurgical testwork and economic assessments to evaluate the potential for including antimony revenue in the project's financial model.

Should future studies confirm its viability, the addition of antimony revenue will further enhance overall project economics, particularly since the associated mining costs are already largely supported by gold production. Nonetheless, there can be no assurances that continuing work will ultimately support this outcome.

Qualified person

In accordance with National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, Garry Biles, PEng, president and chief operating officer, is the qualified person for the company and has prepared, validated and approved the technical and scientific content of this news release. The company strictly adheres to CIM (Canadian Institute of Mining) Best Practices Guidelines in conducting, documenting and reporting activities on its projects. The samples have been analyzed by Blue Coast Research laboratory.

About Canagold Resources Ltd.

Canagold Resources is an advanced development company dedicated to advancing the New Polaris project through feasibility, permitting and production stages. Additionally, Canagold aims to expand its asset base by acquiring advanced projects, positioning itself as a leading project developer. With a team of technical experts, the company is poised to unlock substantial value for its shareholders.

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