Canadian Gold Corp V.CGC

Canadian Gold Corp Phase 1 Exploration

[Betteryear2]

Toronto, Ontario--(Newsfile Corp. - August 23, 2023) - Canadian Gold Corp. (TSXV: CGC) ("Canadian Gold" or the "Company") is pleased to announce initial results from its Phase 1 Exploration Program at the Tartan Mine, located near Flin Flon, Manitoba, including its first test at depth. Drilling has intersected one of the best holes in the mine's history, 325 metres below the lower limit of the current resource estimate, increasing the vertical extent of the high-grade mineralization by 61% compared to the resource (Fig. 1). Hole TLMZ23-26 returned 12.0 gpt gold over 8.0 metres, inside the widest interval ever at the Tartan Mine, 4.2 gpt gold over 53.7 metres, and has outlined the potential for a larger discovery at depth. The drill highlights for the first three holes can be seen in Table 1.

Canadian Gold Corp Phase 1 Exploration at Tartan Mine Significantly Expands High-Grade Mineralization Below Resource Limit Indicating Potential for Larger Discovery at Depth (newsfilecorp.com)