Canadian Gold Resources Announces 2026 Exploration Program Across Three Québec Properties; Provides Lac Arsenault Operational Update
Rhea-AI Summary
Canadian Gold Resources (OTCQB:CDNGF) announced its 2026 exploration program across its 100%-owned Lac Arsenault, Robidoux and VG Boulder projects in Québec.
Plans include expanded diamond drilling and a bulk sample at Lac Arsenault, first drilling at Robidoux, reconnaissance at VG Boulder, and operational enhancements after assay delays.
AI-generated analysis. Not financial advice.
Positive
- 2026 exploration program covers all three 100%-owned Québec properties
- Expanded Lac Arsenault diamond drilling planned for late summer/fall 2026
- Lac Arsenault bulk sample excavation expected to start in Q3 2026
- Robidoux diamond drilling targeted for late summer/fall 2026
- Systematic reconnaissance and sampling program launched at VG Boulder in 2026
- Additional geological expertise and new Qualified Person engaged to strengthen technical oversight
Negative
- Lac Arsenault assay results taking longer to process and interpret than anticipated
- Operational and process changes have delayed timing of assay submissions
- Follow-up drilling at VG Boulder in 2026 remains contingent on results and permitting
News Market Reaction – CDNGF
On the day this news was published, CDNGF gained 107.41%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Dieppe, New Brunswick--(Newsfile Corp. - June 18, 2026) - Canadian Gold Resources Ltd. (TSXV: CAN) ("Canadian Gold" or the "Company") is pleased to announce its 2026 exploration program, which will encompass all three of its
Management Commentary
Ken Chernin, Interim President and CEO of Canadian Gold Resources, commented:
"Our immediate priorities are clear: advance the Lac Arsenault bulk sample toward execution, continue expanding our understanding of the property's broader discovery potential, and unlock value across our portfolio through disciplined exploration. While certain operational initiatives have affected the timing of assay submissions, we believe these steps are necessary to ensure we have the right people, processes and technical oversight in place. We remain confident in the potential of our assets and are committed to advancing them in a manner that reflects prudent stewardship of shareholder capital and the highest professional standards."
Program Highlights
The 2026 exploration program will comprise reconnaissance prospecting, geological mapping, and soil geochemistry surveys across all three properties. The planned work is designed to refine the Company's geological models, identify and prioritize new areas of interest, and generate targets for upcoming drilling campaigns. Additional geophysical surveys may also be undertaken where warranted by exploration results.
Lac Arsenault — Expanded Diamond Drilling Program & Bulk Sample
At the Company's flagship Lac Arsenault property, Canadian Gold intends to undertake a new phase of diamond drilling focused on testing the property's complex structural setting and evaluating targets generated through the Company's ongoing geological interpretation. Interpretation of geological data identified untested fault structures across the property, which management believes represent highly prospective targets for gold-bearing polymetallic vein mineralization.
Importantly, the known high-grade polymetallic gold mineralization at Lac Arsenault is hosted within an interlocking fault structure. The Company believes that the numerous additional fault intersections identified throughout the property may represent analogous mineralized systems and intends to evaluate these targets through a systematic exploration program culminating in an expanded diamond drilling campaign in late summer/fall 2026. The Company is currently preparing drill permit applications and expects drilling to commence following receipt of the necessary approvals.
The Company's previously announced bulk sample program at Lac Arsenault continues to advance and is proceeding as planned. All permits required for the program remain in good standing, and excavation of mineralized material is expected to commence during the third quarter of 2026.
In advance of initiating the bulk sample, the Company is awaiting assay results from its recently completed drill program. These results are expected to enhance the Company's understanding of the geometry, continuity and characteristics of the mineralized system, helping to further de-risk the project and ensure that the bulk sample is executed utilizing the most complete geological information available. Concurrently, the Company is reviewing previously obtained processing and transportation quotations and finalizing the logistical arrangements associated with the program. The Company remains encouraged by the progress to date and looks forward to advancing this important milestone in a disciplined and methodical manner.
Robidoux — Diamond Drill Program
Canadian Gold also plans to undertake a diamond drilling program on the Robidoux property in late summer/fall 2026, marking a significant milestone in the advancement of the asset.
The exploration program will start in June with detailed reconnaissance prospecting and soil geochemistry surveys designed to further define the property's geological framework and support drill target generation. Permit applications are being prepared, and the Company expects to mobilize once approvals have been received.
Canadian Gold believes the Robidoux property represents a compelling exploration opportunity, supported by gold occurrences identified through historical work. The Company is excited to commence work at Robidoux and apply modern exploration techniques to evaluate the property's full potential.
VG Boulder — Reconnaissance Program
At the VG Boulder property, the Company will conduct reconnaissance prospecting and soil geochemistry surveys with the potential for follow-up drilling later in 2026, subject to exploration results and permitting.
A key objective of the program will be the systematic evaluation of the property's precious metal and antimony potential through systematic outcrop mapping and sampling. The Company plans to utilize a portable backpack drill to access and obtain samples from prospective outcrops, generating valuable geological data to support target generation and resource evaluation.
Canadian Gold believes growing global interest in critical minerals presents a compelling opportunity to advance the VG Boulder project while continuing to build value across its broader exploration portfolio.
Operational Update
Assay results from the Company's recently completed drill program at Lac Arsenault have taken longer to process and interpret than originally anticipated. During this period, the Company has undertaken a number of initiatives designed to strengthen its technical capabilities and support the efficient execution of its exploration programs.
Over the past several weeks, the Company has undertaken a number of initiatives designed to strengthen its technical capabilities and support the efficient execution of its exploration programs. These initiatives have included the transition to a new Qualified Person overseeing the Company's technical activities, the engagement of additional geological expertise, and the advancement of plans to formalize the appointment of an experienced project geologist to support field operations.
As part of its ongoing commitment to prudent stewardship of shareholder capital and operational excellence, the Company has also been reviewing certain aspects of its analytical and sample handling processes with the objective of improving efficiency and supporting future exploration activities. While these initiatives have contributed to the timing of assay submissions, management believes they represent important investments in establishing the technical oversight, operational standards and project infrastructure necessary to support the Company's long-term objectives.
The Company expects to provide shareholders with a further operational update regarding assay timing and related activities in the near term as additional information becomes available.
Canadian Gold remains committed to fulfilling its continuous disclosure obligations in accordance with applicable securities laws and NI 43-101 requirements. Management appreciates the patience and continued support of its shareholders and believes that taking the time to build the right technical foundation will position the Company to advance its projects in a disciplined manner and maximize long-term shareholder value.
Qualified Person
The scientific and technical information in this news release has been reviewed and approved by Martin Aucoin, P.Geo., a Qualified Person under NI 43-101. Mr. Aucoin is a geological consultant to the Company and is a non-independent Qualified Person.
About Canadian Gold Resources Ltd.
The Company is a junior exploration issuer advancing three high-grade gold properties totaling approximately 18,000 hectares in Québec's Gaspé Peninsula. The Company's strategy is to unlock the potential of historically explored assets through modern exploration and development, supported by a management team with a proven track record in discovery and project advancement.
For further information, please contact:
Ken Chernin
Interim President & Chief Executive Officer
Canadian Gold Resources Ltd.
ken.chernin@cdngold.com
+1 (416) 846 - 7373
Investor Relations
investors@cdngold.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Canadian Gold trades on the TSX Venture Exchange under the ticker CAN and has 54,868,876 common shares outstanding.
Forward-Looking Statements Disclaimer:
This news release contains "forward-looking statements," including but not limited to statements regarding the Company's strategic objectives and anticipated growth. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties that may cause actual results to differ materially. Readers are cautioned not to place undue reliance on these statements. The Company disclaims any obligation to update or revise any forward-looking information, except as required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/302137