Mr. Michael Swistun reports

CANADIAN GOLD CORP. TARTAN SOUTH ZONE CONTINUES TO HIT: 140M VERTICAL EXPANSION INTERSECTS 9.4 GPT GOLD/ 3.3M

Canadian Gold Corp. has released continuing drill results from its phase 4 drill program at the 100-per-cent-owned Tartan mine near Flin Flon, Man. Drilling has successfully expanded the South zone by an additional 140 metres vertically in depth for a total of 310 metres, or 120 metres below the 2017 resource estimate since drilling began in March of this year. The South zone is a parallel complex of mineralization to the Main zone that is believed to host the majority of the mine's resources.

On March 3, 2025, the company released its first deep test of the South zone, which successfully intersected 6.1 grams per tonne gold over six metres, 170 metres below the 2017 resource estimate. The subsequent hole released today returned 9.4 grams per tonne gold over 3.3 metres and was located a further 140 metres below the initial test. This result significantly expands the South zone mineralization at depth and has important implications as it appears the South zone could have similar depth potential to the Main zone, which the company has extended below the 2017 resource limit of 575 metres to 1,030 metres below surface -- a 79-per-cent increase -- and which remains open for expansion.

"We are very excited that the phase 4 drill program continues to deliver strong results and validates our thesis that the South zone could represent a heretofore-underexplored source of significant mineralization. This significant expansion of the South zone will have important implications for potential restart of the Tartan mine as it would increase the number of gold ounces per vertical metre, lowering the development costs on a per-ounce basis and allowing for higher production," stated Michael Swistun, CFA, president and chief executive officer.

Additional drilling in this release focused on expanding the mineralization above the initial deeper hole TLSZ25-32 by wedging above 16 metres and to the east and below by 18 metres. The hole drilled above the initial result returned 7.6 grams per tonne gold over 4.0 metres. The first test to the east and below also successfully intersected the zone but at a lower grade of 3.3 grams per tonne gold over 3.0 metres.

Qualified person

The scientific and technical information disclosed in this news release was reviewed and approved by Wesley Whymark, PGeo, consulting geologist for the company, and a qualified person as defined under National Instrument 43-101.

Technical information

The samples collected by Canadian Gold described in this news release were transported in secure, sealed bags for preparation and assay by Act Labs in Thunder Bay, Ont. The samples reported are one-half core samples of NQ-size core, crushed in their entirety to 80 per cent passing minus-10 mesh, with one 500-gram subsample analyzed for gold by photon assay.

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). McEwen Mining Inc. holds a 5.7-per-cent interest in Canadian Gold, and Robert McEwen, the founder and former CEO of Goldcorp and chairman and CEO of McEwen Mining, holds a 32.9-per-cent interest in Canadian Gold.

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