Mr. Michael Swistun reports

CANADIAN GOLD CORP. CLOSES FINAL TRANCHE OF FINANCING

Canadian Gold Corp. has completed the final-tranche closing of its private placement offering, resulting in aggregate oversubscribed proceeds of $775,089.

On Dec. 13, 2024, the company announced the first-tranche closing of $500,000 by the issuance of 2,631,579 flow-through shares at a price of 19 cents per share. The company has now closed the second tranche of this private placement offering by the issuance of 1,447,837 flow-through shares at a price of 19 cents per share for gross proceeds of $275,089.

Together, 4,079,416 shares were issued for aggregate gross proceeds of $775,089, and the company paid a total of $27,005.33 in finders' fees to eligible finders. All securities issued are subject to a hold period of four months.

The proceeds from the issuance of flow-through shares shall be incurred on the company's Canadian exploration projects, qualifying as Canadian exploration expenditures (CEE).

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 historic Tartan mine currently has a 2017 indicated mineral resource estimate of 240,000 ounces gold (1.18 million tonnes at 6.32 grams per tonne gold) and an inferred estimate of 37,000 ounces gold (240,000 tonnes at 4.89 grams per tonne gold). The company also 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 34 per cent owned by Robert 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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