Canadian Gold Corp. Announces Shareholders Approve Arrangement with McEwen

Flin Flon, Manitoba--(Newsfile Corp. - December 5, 2025) - Canadian Gold Corp. (TSXV: CGC) ("Canadian Gold") is pleased to announce that at a special meeting of its shareholders (the "Meeting") held on December 5, 2025, shareholders overwhelmingly approved the special resolution authorizing the previously announced business combination with McEwen Inc. (NYSE: MUX) (TSX: MUX) ("McEwen") to be completed by way of statutory plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia).

The Arrangement was approved by 99.998% of the votes cast by shareholders present in person or represented by proxy at the Meeting. In addition, as required by Multilateral Instrument 61-101 of the Canadian Securities Administrators ("MI 61-101"), the Arrangement was also approved by 99.996% of the votes cast by disinterested shareholders, after excluding the 79,681,855 votes held by "interested parties" (as defined under MI 61-101). The total votes cast in favour of the Arrangement represented approximately 64.79% of Canadian Gold's total issued and outstanding common shares.

Under the terms of the arrangement agreement dated October 10, 2025 between Canadian Gold and McEwen (the "Arrangement Agreement"), which was negotiated at arms-length, each holder of a common share of Canadian Gold (each, a "Canadian Gold Share") will receive 0.0225 common shares of McEwen for each Canadian Gold Share held.

Canadian Gold is also pleased to announce that it has obtained conditional approval from the TSX Venture Exchange with respect to the Arrangement, subject to customary conditions. Canadian Gold anticipates attending the British Columbia Supreme Court on or about December 10, 2025 to obtain the final order of the Court.

Completion of the Arrangement remains subject to the satisfaction of customary conditions applicable to transactions of this nature, including receipt of requisite court and stock exchange approvals. If all necessary approvals are obtained and the conditions to the Arrangement are met or waived, the Arrangement is anticipated to close on or about January 5, 2026.

About Canadian Gold

Canadian Gold Corp. is a Canadian-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, Manitoba. The historic Tartan Mine currently has a 2017 indicated mineral resource estimate of 240,000 oz gold (1,180,000 tonnes at 6.32 g/t gold) and an inferred estimate of 37,000 oz gold (240,000 tonnes at 4.89 g/t gold). (Tartan Lake Project Technical Report, Manitoba, Canada, April 2017 authored by Mining Plus Canada Consulting Ltd.). The Company also holds a 100% 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 (QC), the Hemlo Mine (ON) and Hammond Reef Project (ON). McEwen holds a 5.6% interest in Canadian Gold, and Robert McEwen, the founder and former CEO of Goldcorp, and Chairman and CEO of McEwen, holds a 32.5% interest in Canadian Gold.