Canadian Gold Corp. Tartan Mine: Western Expansion Drilling Intersects More High-Grade of 11.6 gpt Gold Over 5.1 Metres & 7.1 gpt Over 6.0 Metres

Toronto, Ontario--(Newsfile Corp. - February 18, 2025) - Canadian Gold Corp. (TSXV: CGC) ("Canadian Gold" or the "Company"), is pleased to announce ongoing drill results from its Phase 4 drill program at the Tartan Mine, near Flin Flon, Manitoba. Two holes successfully expanded the high-grade mineralization along the western flank by approximately 60 metres west between 680 and 720 metres below surface (Fig. 1). Both holes contained visible gold and continue to validate impressive continuity of the Main Zone in both grade and thickness, an exceptional attribute that enhances the deposit's viability in a future mining scenario. In addition to the potential for discovering additional ounces to the west, opportunity remains along the eastern flank, which has seen limited drilling at depth. Since beginning this multi-Phase drill program, a total of 26 of 29 holes (90%) have successfully intersected what the Company believes to be potentially economic mineralization within the Main Zone.

Continued Phase 4 Drill Highlights

• Hole TLMZ21-03W3 returned a rich intersection, including visible gold of 11.6 gpt gold over 5.1 metres, including 18.7 gpt gold over 1.0 metre (Fig. 2). This drill hole successfully expanded the higher grades seen along the western flank of the Main Zone highlighted in recent news releases by 40 metres to the west at an approximate depth of 680 metres below surface.

• Hole TLMZ21-03W2 intersected 7.1 gpt gold over 6.0 metres, including 30.5 gpt gold over 0.5 metre and achieved a similar objective to the result above but at a depth of 720 metres below surface (Fig. 2). This hole expanded the high-grade gold mineralization to the west by 60 metres.

• Both holes demonstrate that there is excellent potential to further expand the Western flank, vertically and to the west, where there has been limited to no drilling to date.

• Additional planned drilling for the Phase 4 program includes a deeper test of the eastern part of the South Zone that was recently completed (Fig. 3), and two deep holes along the western flanks of the Main Zone (Fig. 1). The drilling is designed to maximize the total potential gold ounces prior to an eventual commencement of an updated mineral resource estimate and mine economics study.

Phase 4 drilling will be incorporated into an updated mineral resource estimate. Since the previous resource estimate was published in 2017, the Company has completed over 23,000 metres of drilling, expanding the vertical extent of the gold mineralization by approximately 79%, from 575 metres to 1,030 metres below surface (Fig. 4).