Canadian Gold Corp. Closes Final Tranche of Financing

Toronto, Ontario--(Newsfile Corp. - December 24, 2024) - Canadian Gold Corp. (TSXV: CGC) ("Canadian Gold" or the "Company") announces the completion of the final tranche closing of its private placement offering, resulting in aggregate oversubscribed proceeds of $775,089.

On December 13, 2024, the Company announced the first tranche closing of $500,000 by the issuance of 2,631,579 flow through shares at a price of $0.19 per share. The Company has now closed the second tranche of this private placement offering by the issuance of 1,447,837 flow through shares at a price of $0.19 per share, for gross proceeds of $275,089.

Together, 4,079,416 shares were issued for aggregate gross proceeds of $775,089, and the Company paid a total of $27,005.33 in finders fees to eligible finders. All securities issued are subject to a hold period of four months.

The proceeds from the issuance of flow through shares shall be incurred on the Company's Canadian exploration projects, qualifying as Canadian Exploration Expenditures (CEE).

About Canadian Gold Corp.

Canadian Gold Corp. is a Toronto-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). The Company also holds a 100% interest in greenfields 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). The Company is 34% owned by Robert McEwen, who was the founder and CEO of Goldcorp and is Chairman and CEO of McEwen Mining.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release of the Company contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Canadian Gold's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235114