Canadian Gold Resources Ltd. Finalizes Bulk Sample Extraction Schematics and Procedures for Bulk Sample Program at Lac Arsenault Project, Quebec

Rhea-AI Summary

Canadian Gold Resources (TSXV: CAN) has completed the bulk sample extraction schematics and procedures for its Lac Arsenault Gold Project in Quebec. The program targets two key areas: the Mersereau Vein and Baker Vein. The bulk sampling aims to verify grade continuity, evaluate metallurgical recoveries, and gather technical and economic data for future development. The extracted material will be processed at an off-site toll milling facility, with gold recovery proceeds supporting exploration, growth initiatives, and potential shareholder dividends. The company awaits necessary approvals from Quebec's government. Additionally, Canadian Gold has engaged 1000903966 Ontario Inc. for a one-year marketing contract worth CAD$37,500 per quarter, focusing on social media engagement across platforms like X, Facebook, YouTube, and Reddit.

Positive

• Potential revenue generation from gold recovery during bulk sampling
• Proceeds may support shareholder dividends
• Company owns 100% of the Lac Arsenault Gold Project

Negative

• Project still requires government approvals before proceeding
• Additional marketing expenses of CAD$150,000 annually
• Dependency on off-site toll milling facility for processing

Dieppe, New Brunswick--(Newsfile Corp. - May 22, 2025) - Canadian Gold Resources Ltd. (TSXV: CAN) ("Canadian Gold" or the "Company") is pleased to announce that it has finalized the bulk sample extraction schematics and procedures for a bulk sampling program at its 100%-owned Lac Arsenault Gold Project, located in the Gaspé region of eastern Quebec.

The extraction schematics and procedures outline the removal of mineralized material from surface at two key targets on the property: the Mersereau Vein and the Baker Vein.

The planned bulk sample is designed to confirm grade continuity, assess metallurgical recoveries, and provide critical technical and economic data to guide the next phase of development. All extracted material will be processed at an off-site toll milling facility, and proceeds from any gold recovered will be used to support ongoing exploration, corporate growth initiatives, and potential dividends to shareholders.

The Company is currently awaiting the necessary approvals from the Government of Quebec to permit the execution of the bulk sample extraction as outlined in the finalized schematics. Canadian Gold is actively engaged with regulators to ensure all requirements are met efficiently and responsibly.

Illustration 1: Plan View of the Mersereau Vein and Baker Vein at Lac Arsenault

Map illustrating the surface trace of the Mersereau and Baker veins

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11663/253046_b7939c544452d952_002full.jpg

Marketing and Advertising Engagement

The Company is also pleased to announce that it has entered into an advertising/e-marketing contract with 1000903966 Ontario Inc. to provide marketing services, including social media engagement through X (formerly Twitter), Facebook, YouTube, and Reddit.

The initial term of the agreement is for 365 days, starting on May 20^th, 2025, and may be renewed by mutual written agreement. At the start of each 90-day period, 1000903966 Ontario Inc. will be paid CAD$37,500 plus applicable taxes. Subject to the digital marketing budget, quarterly payments may be accelerated by mutual agreement without changing the total compensation during the one-year engagement period.

Qualified Person

Mark Smethurst, P. Geo and a Director for Canadian Gold Resources Ltd. is a Qualified Person as defined in NI 43-101 and has reviewed and approved the technical information in this press release.

About Canadian Gold Resources Inc.

Canadian Gold Resources Inc. is a junior exploration company focused on high-potential gold assets in Canada. Its flagship Lac Arsenault Project, located in Quebec's Gaspé Peninsula, targets high-grade, vein-hosted gold systems with strong surface and subsurface indicators of economic mineralization.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Notice Regarding Forward-Looking Statements:

This news release contains "forward-looking statements." Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate.

For information contact: Ron Goguen, President, CEO and Director, Tel: (506) 383-4274, rongoguen@cdngold.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/253046

FAQ

What is the purpose of CDNGF's bulk sampling program at Lac Arsenault?

The bulk sampling program aims to confirm grade continuity, assess metallurgical recoveries, and provide critical technical and economic data to guide the next phase of development at the Lac Arsenault Gold Project.

Which veins are targeted in Canadian Gold Resources' bulk sampling program?

The bulk sampling program targets two key areas: the Mersereau Vein and the Baker Vein at the Lac Arsenault Gold Project.

How much is Canadian Gold Resources spending on marketing services?

Canadian Gold Resources will pay CAD$37,500 plus applicable taxes per quarter (CAD$150,000 annually) to 1000903966 Ontario Inc. for marketing services.

What will Canadian Gold Resources do with the proceeds from the bulk sample program?

Proceeds from any gold recovered will be used to support ongoing exploration, corporate growth initiatives, and potential dividends to shareholders.

What approvals does CDNGF need for the Lac Arsenault bulk sampling program?

The company requires necessary approvals from the Government of Quebec to permit the execution of the bulk sample extraction as outlined in the finalized schematics.