Mr. Michael Swistun reports

CANADIAN GOLD CORP. CLOSES OVER-SUBSCRIBED PRIVATE PLACEMENT FOR NEW HAMMOND REEF SOUTH PROGRAM

Canadian Gold Corp. has closed its non-brokered private placement, previously announced on June 19, 2025. The company issued a total of 1,203,125 flow-through common shares, at a price of 32 cents per share, for gross proceeds of $385,000.

The proceeds of the offering will be used to finance follow-up exploration work at the company's 100-per-cent-owned Hammond Reef South property, located near Atikokan, Ont., and at other Canadian projects as may be determined.

The company will use the gross proceeds from the issue and sale of the flow-through shares to incur eligible Canadian exploration expenses, within the meaning of the Income Tax Act (Canada), which will qualify as flow-through mining expenditures, as defined in the Income Tax Act (Canada), on or before Dec. 31, 2026.

In connection with this offering, the company paid a cash finder's fee of $19,250 to one eligible arm's-length party. All securities issued are subject to a hold period of four months and one day, in accordance with applicable securities laws. The offering remains subject to final approval of the TSX Venture Exchange.

The company further announces that all items of business at its annual and special general meeting of shareholders held on June 25, 2025, were passed with the requisite shareholder votes.

About Canadian Gold Corp.

Canadian Gold is a Canadian-based mineral exploration and development company, the objective of which 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 (g/t) gold) and an inferred estimate of 37,000 ounces gold (240,000 tonnes at 4.89 g/t gold) (Tartan Lake project technical report, Manitoba, Canada, April, 2017, written by Mining Plus Canada Consulting Ltd.). The company also holds a 100-per-cent interest in greenfields 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 Hammond Reef project (Ontario). McEwen Mining Inc. holds a 5.6-per-cent interest in Canadian Gold and Robert McEwen, the founder and former chief executive officer of Goldcorp, and chairman and CEO of McEwen Mining, holds a 32.5-per-cent interest in Canadian Gold.

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