Mr. Peter Shippen reports

CANADIAN GOLD CORP EDWARD HUEBERT APPOINTED PRESIDENT AND CEO

With the endorsement of Robert McEwen (Canadian Gold Corp.'s largest shareholder -- 37.6 per cent of the outstanding common shares), Canadian Gold has appointed Edward (Ed) Huebert as president, chief executive officer and director. Mr. Huebert will be replacing Ian Ball, who was serving as interim president and chief executive officer.

Mr. Huebert is currently special adviser on mining to the Cabinet Secretary on economic development for Manitoba, where he developed many of the province's incentive programs, including the mine tax holiday and the Manitoba exploration tax credit. He also served as acting mine manager for the Snap Lake mine and environmental manager for De Beers's Northwest Territories projects. Other notable positions held during his impressive career include Yukon's deputy Minister of Environment and executive vice-president for the Mining Association of Manitoba. He has earned a master's degree in natural resources management from the University of Manitoba and is a PhD candidate in natural resource planning from the University of British Columbia.

Canadian Gold chairman Peter Shippen said: "Edward is a business leader with an excellent record and joins the company at a key time as our recent exploration success and engineering advancements continue to demonstrate the potential for reopening the Tartan mine. Edward brings a tremendous skill set to the company, from mine and exploration permitting to government relations and mine operations. In an industry experiencing skills shortages, we have made excellent progress strengthening our operational team. I also want to personally thank Ian Ball, who was serving as interim president and CEO since late April. Ian has agreed to devote whatever time is required to ensure a smooth transition as Ed begins his new role, particularly with regards to our current phase 2 drilling program at the Tartan mine and engineering studies."

Mr. McEwen, the company's largest shareholder, stated: "Having personally met several of the candidates, I was immediately impressed by Ed's understanding of mining in Manitoba, the potential of the Tartan mine and what is needed to realize that value for our investors. I believe the board of directors has made an informed choice that should benefit [the] company greatly."

About Canadian Gold Corp.

Canadian Gold is a Toronto-based mineral exploration and development company whose objective is to expand the high-grade gold resource at the past-producing Tartan mine, located in Flin Flon, Man. The company holds a 100-per-cent interest in greenfield exploration properties in Ontario and Quebec adjacent to some of Canada's largest gold mines and development projects, specifically the Canadian Malartic mine (Quebec), the Hemlo mine (Ontario) and the Hammond Reef project (Ontario). The company is 37.6 per cent owned by Mr. McEwen, who was the founder and chief executive officer of Goldcorp and is chairman and chief executive officer of McEwen Mining.

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