Canagold Resources Appoints Financial Advisor to Assist in Generating, Evaluating and Negotiating Financing Alternatives - Seite 3

Vikram Sodhi's Inferior Nominees vs Management's Highly Skilled and Experienced Board.

The New Polaris gold mine project hosts a small, narrow, high grade, underground mesothermal gold vein deposit that requires geologists with both the appropriate education and hands-on experience to discover and explore such complex gold systems.

• The Dissident nominees DO NOT include a geologist and therefore DO NOT have the ability to provide appropriate geological oversight of the project.
• Management board nominees DO include a geologist - Bradford Cooke, M.Sc., P.Geo. founder of Canagold. Mr. Cooke personally oversaw the exploration teams, exploration programs, discovery and exploration of the New Polaris gold deposit. Mr. Cooke has specialized in gold since 1984 and silver since 2003. The fact that he also founded and built Endeavour Silver Corp. into a mid-tier silver mining company is a significant advantage for Canagold as the New Polaris project moves from exploration to feasibility to financing, construction and production.

The New Polaris gold deposit is a metallurgically challenging refractory gold ore that is not amenable to conventional cyanide leaching.

• The Dissident nominees DO NOT include a metallurgist and therefore DO NOT have the ability to provide appropriate metallurgical oversight of the project.
• Management board nominees DO include a metallurgist-Dr. Deepak Malhotra, Ph.D., who personally oversaw the metallurgical testing campaigns that allowed us to increase gold recoveries and discover BIOX as the key to unlock the economic value of the refractory gold ore at New Polaris. Dr. Malhotra also happens to be a Ph.D. Mineral Economist who has authored and overseen 100's of economic studies in the mining sector, experience that will be very valuable to Canagold as the New Polaris project advances through a feasibility study.

The New Polaris gold deposit will be developed as a narrow vein, complex underground mechanized, ramp access mine.

• The Dissident nominees DO NOT include a mining engineer with much underground experience and therefore DO NOT have the ability to provide appropriate mining oversight of the project.
• Management Board nominees DO include a mining engineer with extensive underground mining experience, Dr. Kadri Dagdelen, Ph.D., who spent seven years in mine engineering at the Lead, SD underground gold mine of Homestake Mining, eventually rising to the position of Manager, Technical Services. As a bonus, Dr. Dagdelen went on to become a Ph.D. mining engineer who teaches mine engineering at the Colorado School of Mines, he has global consulting experience and was an independent director of Randgold until their take-over by Barrick in 2017.
  • We have already pointed out that all three of the Dissident's nominees appear to be inter-related employment and board experience, and two Dissident Nominees appear to have limited experience as Directors of one Canadian public mining company. In fact, Letton was NEVER elected to the board of that company by shareholders, she was appointed under mysterious circumstances right after the 2021 AGM and did not run for re-election in that Company's 2022 information circular. Moreover, the one board where Letton and Bianchi both resigned from effective May 24, 2022 was a mere 5 days after the Advance Notice Policy (May 19, 2022) submitting their names for directors of Canagold. Incidentally, the Board of the company where Letton and Bianchi resigned has a policy that stipulates no more than two directors may sit on the same public company board without the prior consent of the Corporate Governance and Nominating Committee. This is not the actions of a group attempting to avoid a proxy fight and raises questions as to why Bianchi and Letton would leave a board where they are compensated US $170,000 and US$81,451 in cash respectively, for a board where their compensation would be significantly reduced to CDN$8,000. The remaining Dissident nominee appears to have NO experience as a Director of Canadian public companies.

Canagold requires an independent and experienced Board.