Canadian Gold Corp. Clarification to News Improperly Disseminated by Third Party Wire Services

Rhea-AI Summary

Canadian Gold Corp. (TSXV: CGC) has issued a clarification regarding news releases incorrectly disseminated under its ticker by third-party wire services. The company confirms that during fall 2024, it has only released three official announcements: Phase 3 Drilling results at Tartan Mine on November 14, showing multiple high-grade intercepts; Initial Phase 3 Drilling results on October 16, reporting 7.3 gpt gold over 7.0 metres; and Hammond Reef South surface sampling results on September 25, yielding 11.6 gpt gold. The company has notified wire services to address these erroneous releases.

Positive

• Phase 3 drilling revealed multiple high-grade gold intercepts at Tartan Mine
• Discovery of potential new zone with 7.3 gpt gold over 7.0 metres
• Hammond Reef South surface sampling showed 11.6 gpt gold
• Received Ontario Provincial funding grant for exploration advancement

Negative

• None.

Toronto, Ontario--(Newsfile Corp. - November 19, 2024) - Recently, and on more than one occasion, news releases pertaining to other public companies unrelated to Canadian Gold Corp. (TSXV: CGC) ("Canadian Gold" or the "Company"), have appeared as having been disseminated by Canadian Gold Corp. under its ticker, CGC.

The Company has notified the relevant wire services of these issues, and they have committed to remedy these erroneous releases.

Readers are cautioned to take note of the inadvertent dissemination of news releases purporting or seeming to be those of Canadian Gold Corp.

For clarity, Canadian Gold has released only the following news during the fall of 2024:

November 14, 2024:
Phase 3 Drilling at Tartan Mine Returns Multiple High-Grade Intercepts over Good Widths Extending Main Zone to the West Well Below Resource; Potential to Expand Resource Remains Excellent

October 16, 2024:
Initial Results from Phase 3 Drilling at Tartan Mine Extends High-Grade Mineralization to the West 7.3 gpt Gold over 7.0 Metres & Discovers Potential New Zone

September 25, 2024:
Hammond Reef South Surface Sample Returns 11.6 gpt Expanding New Gold Discovery & Provincial (Ontario) Funding Grant Awarded to Help Advance Exploration

For Further Information, Please Contact:

Michael Swistun, CFA
President & CEO
Canadian Gold Corp.
(204) 232-1373
info@canadiangoldcorp.com

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 35% 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/230506

FAQ

What news releases did Canadian Gold Corp (TSXV: CGC) officially publish in fall 2024?

Canadian Gold Corp officially released three news items: Phase 3 Drilling results at Tartan Mine (Nov 14), Initial Phase 3 Drilling results showing 7.3 gpt gold (Oct 16), and Hammond Reef South surface sampling results of 11.6 gpt gold (Sept 25).

What were the gold intercept results from Canadian Gold Corp's Phase 3 drilling at Tartan Mine in October 2024?

The Initial Phase 3 drilling results at Tartan Mine showed high-grade mineralization extending to the west, with 7.3 gpt gold over 7.0 metres, and discovered a potential new zone.

What was the Hammond Reef South surface sampling result for Canadian Gold Corp in September 2024?

The Hammond Reef South surface sampling returned 11.6 gpt gold, expanding a new gold discovery. The company also received an Ontario Provincial funding grant for exploration advancement.