Vikram Sodhi and SunValley Investments Will Do or Say Anything to Seize Control of Your Board, Company and Project

They Are Repeating Their Falsehoods in Multiple Disclosures But That Does Not Make Them True

You Can Defend Your Company and Investment by Voting FOR Canagold's Board Nominees Using ONLY the YELLOW Proxy

• VOTE ONLY THE YELLOW PROXY - Questions or assistance with voting the YELLOW Proxy? Contact Laurel Hill Advisory Group at 1-877-452-7184 or by e-mail at [e-mail].

VANCOUVER, BC / ACCESSWIRE / June 30, 2022 / Canagold Resources Ltd. (TSX:CCM)(OTCQB:CRCUF)(Frankfurt:CANA) ("Canagold" or the "Company")urges Canagold shareholders to ignore and discard the SunValley Company DMCC ("SunValley" or the "Dissident") information circular released on June 27, 2022 which continues to show their complete disregard for both truthful disclosure and Canagold shareholders.

SunValley, led by their Managing Director Vikram Sodhi, is continuing their campaign of lies and misinformation against Canagold and its Chairperson, Bradford Cooke. They are repeating multiple falsehoods and misleading statements to deliberately distract Canagold's shareholders from the Dissident's true intention - to seize 60% control of the board, your Company and its core asset, the New Polaris gold mine project located in northern British Columbia while owning only 17% of the shares, without paying you, the shareholders, anything for control.

SunValley is Attempting to Conceal its Real Agenda

If the Dissident's three hand-picked and interconnected board nominees succeed in getting enough votes, they would control your board, and could use that control to advance the Dissident's creeping takeover attempt through additional cheap equity financings with the Dissident. All this without you, the shareholders, being able to do anything about it. The Dissident's nominees are clearly not independent, but there for the bidding of the Dissident. The Dissident's nominees have a history of working together and will likely do so at Canagold to ensure that SunValley and Vikram Sodhi advance their agenda of seizing control of Canagold, without consideration for the majority of our shareholders.

Now is the time to stop them in their tracks, by voting FOR Canagold's Management Nominees today using only the YELLOW Proxy.

Canagold Shareholders have the right to make decisions about the future of Canagold based on facts and truth, not lies and misinformation. To set the record straight and ensure that our shareholders act on facts rather than the inaccurate and false statements in the Dissident's circular, Canagold will, AGAIN, inform our shareholders about the truth about various matters in this and future news releases.