Canadian Gold Resources to Expand Maiden Diamond Drill Program & Provides

Canadian Gold Resources Ltd. (TSXV: CAN) (“Canadian Gold” or the “Company”) provides an operational update regarding its maiden diamond drill program and the planned 5,000-tonne bulk sampling program at the 100%-owned Lac Arsenault Project in Québec’s Gaspé Peninsula, as well as recent changes to the Company’s LIFE offering.

Company Plans to Significantly Increase Maiden Lac Arsenault Diamond Drill Program

Canadian Gold has submitted amended permit applications seeking approval to expand its maiden drill program to roughly twice the originally planned scope of 36 holes totaling 3,000 metres. This decision follows ongoing geophysical interpretation that has identified numerous high priority vein and stockwork type drill targets.

The Company recently completed a tightly spaced Induced Polarization (“IP”) survey across the Baker–Mersereau structural corridor. Preliminary geophysical interpretation work carried out by Jeremy S. Brett International Consulting Ltd. has identified multiple IP signatures along Line 2200N that closely resemble the response associated with the known high-grade Baker vein (please see Image 1, below). Although the Mersereau vein has not yet been fully interpreted on the current working map, its position and continuity are clearly expressed in the IP data, further reinforcing the technical rationale for expanding the drill program. In addition, possible stockwork zones have been identified up to 100m wide.

These new geophysical targets, combined with a second set of drill collar locations submitted under the amended permit application, support the potential for a substantially larger first-phase drill campaign. The targets are situated within what the Company and its consultants refer to as the Stockwork Target Corridor, a near-surface (0–30 metres vertical depth) zone characterized by strong structural preparation and distinctive geophysical response. Given the strength and coherence of these new geophysical targets, the Company is evaluating a plan to materially increase the number of drill holes beyond the previously permitted minimum, with the objective of fully testing these newly defined priority areas.

Management Commentary

“We are very encouraged by the results of our recent Induced Polarization (“IP”) Survey at Lac Arsenault,” said Ron Goguen, President & CEO of Canadian Gold Resources. “The tightly spaced IP work across the Baker–Mersereau structural corridor has outlined multiple new high-priority vein and stockwork targets, some of which mirror the response of the high-grade Baker vein. The data also clearly define the continuity of the Mersereau vein. Based on these findings, we’ve submitted amended permits to roughly double the size of our maiden drill program to properly test these new geophysical targets.”

“The delay in receiving the ATI permits pushed our operating window into winter conditions”, said Mr. Goguen. “Extracting and transporting material at this time of year would not be safe, or…