Canadian Gold Corp. Tartan Mine "Western Flank" Step-Out Drilling Continues to Deliver

Rhea-AI Summary

Canadian Gold Corp (OTC:STRRF) reported ongoing Phase 4 drilling at its 100% owned Tartan Mine near Flin Flon, Manitoba, highlighting high-grade intercepts and near-mine targets ahead of a proposed acquisition by McEwen (closing expected early 2026).

Key assay highlights include 12.3 gpt Au over 14.0 m, 8.2 gpt Au over 9.9 m, 10.7 gpt Au over 4.5 m, and a South Zone intercept of 82.0 m at 1.3 gpt Au. Drill success rate: 31 of 35 holes (89%) intersected potentially economic mineralization. Surface sampling on adjoining Tartan West returned up to 28.9 gpt Au.

Positive

• High-grade intercept: 12.3 gpt Au over 14.0 m
• High-grade intercept: 8.2 gpt Au over 9.9 m
• Drill success rate: 31 of 35 holes (89%)
• South Zone bulk intercept: 82.0 m at 1.3 gpt Au
• Tartan West surface assays up to 28.9 gpt Au

Negative

• Reported intervals are interval widths; true widths not yet known
• Planned acquisition by McEwen not closed

Key Figures

Western Flank intercept: 12.3 gpt gold over 14.0 metres Western Flank intercept: 8.2 gpt gold over 9.9 metres Western Flank intercept: 10.7 gpt gold over 4.5 metres +5 more

8 metrics

Western Flank intercept 12.3 gpt gold over 14.0 metres Main Zone Western Flank drill hole TLMZ25-49

Western Flank intercept 8.2 gpt gold over 9.9 metres Main Zone Western Flank drill hole TLMZ25-49W2

Western Flank intercept 10.7 gpt gold over 4.5 metres Main Zone Western Flank drill hole TLMZ25-49W1

South Zone broad interval 82.0 metres of 1.3 gpt Au South Zone drill hole TLSZ25-41

High-grade grab sample 28.9 gpt gold Grab sample from Tartan West surface work

High-grade channel sample 28.5 gpt gold Channel sample from Tartan West surface work

Successful holes 31 of 35 holes (89%) Main Zone multi-phase drill program mineralization hit rate

Tartan Mine ownership 100% Canadian Gold’s interest in Tartan Mine

Market Reality Check

Price: $0.4620 Vol: Volume 1,046 is far below...

low vol

$0.4620 Last Close

Volume Volume 1,046 is far below the 20-day average 27,249, indicating very light trading ahead of this update. low

Technical Price at 0.43276 is trading above the 200-day MA 0.21, reflecting a pre-existing upward trend.

Peers on Argus

Peers showed mixed moves with both gains and losses (e.g., one up 18.1%, others ...

Peers showed mixed moves with both gains and losses (e.g., one up 18.1%, others down 2–4%), suggesting today’s story is more company-specific than broad gold-sector driven.

Historical Context

4 past events · Latest: Oct 14 (Positive)

Pattern 4 events

Date	Event	Sentiment	Move	Catalyst
Oct 14	Acquisition agreement	Positive	+20.3%	Definitive arrangement with McEwen at a premium consideration.
Jul 28	LOI acquisition	Positive	+7.9%	Binding LOI for McEwen to acquire Canadian Gold at a premium.
Jul 17	Exploration update	Positive	+1.6%	Launch of field exploration at Hammond Reef South and Tartan West.
Jun 25	Operational access	Positive	+9.8%	Lifting of evacuation order near Tartan Mine, enabling future access.

Pattern Detected

The stock has historically reacted positively to corporate transactions and operational updates, with prior news events showing consistently positive one-day price moves.

Recent Company History

This announcement continues a series of developments centered on the Tartan Mine and its strategic value. In July 2025, Canadian Gold highlighted high-grade exploration at Hammond Reef South and Tartan West. Later that month and in October 2025, a letter of intent and then a definitive arrangement with McEwen Inc. were announced, each offering notable premiums and driving positive price reactions. The lifting of evacuation orders in June 2025 also coincided with a favorable move, underscoring sensitivity to operational access and deal news.

Market Pulse Summary

This announcement presents additional high-grade intercepts and broader mineralized zones at the Tar...

Analysis

This announcement presents additional high-grade intercepts and broader mineralized zones at the Tartan Mine, including Western Flank intervals above 10 gpt and an 82.0 metre South Zone interval. It builds on earlier 2025 exploration and the pending acquisition agreement with McEwen Inc. Investors may focus on how consistently high grades, hit rates across 35 holes, and near-mine targets could influence long-term production scenarios within the combined company structure.

Key Terms

gpt, utm, qualified person, national instrument 43-101, +1 more

5 terms

gpt technical

"Highlights include 12.3 gpt gold over 14.0 metres, 8.2 gpt gold..."

GPT, or Generative Pre-trained Transformer, is a type of artificial intelligence that can understand and generate human-like text. It works like a highly advanced autocomplete system, predicting what words or sentences come next based on patterns it has learned from vast amounts of information. For investors, GPT’s ability to process and analyze language can enhance data interpretation, automate tasks, and support decision-making processes.

utm technical

"Length (metres) | Easting (UTM) | Northing (UTM)"

UTM stands for Urchin Tracking Module and refers to small tags added to the end of a web link that tell analytics tools where visitors came from and which campaign brought them. For investors, UTM tags help companies show which press releases, emails or ads drove traffic and engagement, like a return address on a postcard that reveals what marketing efforts are working and where to focus resources.

qualified person regulatory

"and a Qualified Person as defined under National Instrument 43-101."

A qualified person is someone with specialized knowledge, experience, and training in a particular field, allowing them to accurately assess and verify information or work. Their expertise helps ensure that reports, evaluations, or decisions are trustworthy and meet required standards. For investors, a qualified person provides confidence that the information they rely on is credible and properly validated.

national instrument 43-101 regulatory

"a Qualified Person as defined under National Instrument 43-101."

National Instrument 43-101 is a set of rules and guidelines that govern how mineral exploration and mining companies must report information about their projects. It ensures that the details shared with investors are accurate, consistent, and reliable—similar to how a detailed, verified blueprint ensures a building’s safety. This helps investors make informed decisions based on trustworthy information about a company's mineral resources.

photonassay technical

"subsample split and analysed for gold by PhotonAssay."

Photonassay is a laboratory method that measures metal concentrations by bombarding a rock or ore sample with high-energy photons and detecting the characteristic radiation the sample emits in response. For investors, it offers a faster, non-destructive way to estimate metal grades on bulk samples—like using a CT scan instead of slicing a loaf—helping produce more representative resource estimates, though results depend on proper calibration and the specific metals tested.

AI-generated analysis. Not financial advice.

11/27/2025 - 07:00 AM

Flin Flon, Manitoba--(Newsfile Corp. - November 27, 2025) - Canadian Gold Corp. (TSXV: CGC) ("Canadian Gold" or the "Company") is pleased to announce ongoing results from its Phase 4 drill program at the 100%-owned Tartan Mine, near Flin Flon, Manitoba. Encouraging results, especially along the Main Zone's Western Flank, continue to support the plan to move toward a potential mine restart. Highlights include 12.3 gpt gold over 14.0 metres, 8.2 gpt gold over 9.9 metres, and 10.7 gpt gold over 4.5 metres. Canadian Gold is currently in the process of being acquired by McEwen Inc. (NYSE: MUX) (TSX: MUX), with closing expected in early 2026.

Results contained in this news release include the following areas: 1) Main Zone's Western Flank, 2) South Zone (which is parallel to the Main Zone), and 3) prospecting near the Tartan Mine (See Fig. 1, 2, 3 and 4). The continued objective of this drilling has been to increase the number of ounces per vertical metre, which could allow for higher annual gold production in a potential mine restart while driving economies of scale to lower production and development costs.

Tartan Mine: Recent Highlights

Main Zone - Western Flank

Five new holes were drilled along the Main Zone's Western Flank. These holes successfully expanded the mineralization approximately 30 metres west, over a vertical extent of 80 metres (Fig. 2) (from 440 to 520 metres below surface). Highlights include 12.3 gpt gold over 14.0 metres, 8.2 gpt gold over 9.9 metres and 10.7 gpt gold over 4.5 metres. Canadian Gold's exploration team believes there is excellent potential to expand this area further to the west, at depth, and closer to surface.

In addition to discovering additional resources to the west, there remains a good opportunity along the Eastern Flank, which has seen limited drilling at depth. Since beginning this multi-phase drill program, a total of 31 of 35 holes (89%) have successfully intersected what the Company believes to be potentially economic mineralization within the Main Zone.

South Zone

The objective of the ongoing drilling at the South Zone has been to expand the resource size, allowing for a higher production on a potential mine restart. Notable drilling results at the South Zone include 5.2 gpt gold over 5.0 metres in TLSZ25-38W1 and 4.4 gpt gold over 4.0 metres TLSZ25-40, each supported by internal high-grade intervals up to 12.5 gpt Au over 1.0 metre and 8.9 gpt gold over 1.6 metres, respectively (Fig. 3). TLSZ25-41 delivered a particularly significant intercept of 82.0 metres of 1.3 gpt Au, which contained multiple higher-grade sections. Collectively, these intercepts demonstrate the consistent presence of higher-grade lenses within broader mineralized envelopes. The results confirm that the South Zone remains an excellent growth opportunity requiring continued drilling and refinement of the structural controls governing gold distribution to fully evaluate its potential.

Near Mine Target Generation Confirms High-Grade Gold at Surface

Drill target generation on the Tartan West property, which adjoins the Tartan Mine (Fig. 4), commenced in the summer and has confirmed the presence of multiple areas of high-grade gold mineralization. Canadian Gold has an option to acquire 100% of the Tartan West property as detailed in its news release May 16, 2025. Initial work consisted of geological mapping, prospecting, and surface sampling to prioritize areas for trenching and drilling in 2026. Highlights from this work include grab samples that assays up to 28.9 gpt gold and channel samples that assayed up to 28.5 gpt gold. See Fig. 3 for target locations relative to the Tartan Mine.

Canadian Gold has optioned this property on the basis that it offers strong potential to expand the resource base and align with future infrastructure investments. The Tartan Shear extends westward from the Tartan Mine and presents significant exploration potential for hosting similar gold mineralization. A consolidated development strategy with a single processing facility at the Tartan Mine sourcing ore from multiple zones, including potential discoveries along the Tartan Shear Zone, could materially reduce capital intensity on a per-ounce basis while enabling access through existing and planned underground infrastructure.

Table 1. Drilling Assay Highlights

Drill Hole	From (metres)	To (metres)	Interval1 (metres)	Gold Grade (gpt)	Zone2
TLMZ21-03W4	780.95	784.75	3.80	8.1	MZ
Including	780.95	782.00	1.05	13.4
TLMZ25-49	621.00	635.00	14.00	12.3	MZ
Including	631.05	635.00	3.95	22.7
Including	634.50	635.00	0.50	118.2
TLMZ25-49W1	623.50	628.00	4.50	10.7	MZ
Including	626.40	627.00	0.60	34.4
TLMZ25-49W2	627.10	637.00	9.90	8.2	MZ
Including	636.20	637.00	0.80	31.6
TLMZ25-49W3	556.80	566.10	9.30	2.3	MZ
Including	564.00	565.00	1.00	6.6
TLSZ25-38W1	223.00	228.00	5.00	5.2	SZ
Including	227.00	228.00	1.00	12.5
TLSZ25-39	242.00	244.00	2.00	4.8	SZ
TLSZ25-40	352.00	356.00	4.00	4.4	SZ
Including	354.40	365.00	1.60	8.9
TLSZ25-41	343.00	425.00	82.00	1.3	SZ
Including	373.00	374.00	1.00	7.2
Including	388.00	389.00	1.00	6.5
Including	417.30	418.05	0.75	6.4
TLSZ25-42	350.15	355.00	4.85	3.8	SZ
Including	350.15	351.07	0.92	12.1
TLSZ25-44	371.80	376.00	4.20	2.7	SZ
Including	375.00	376.00	1.00	5.5
TLSZ25-46	217.00	225.00	8.00	2.4	SZ
Including	223.00	224.00	1.00	6.2
TLSZ25-47	255.00	258.00	3.00	4.2	SZ
Including	257.00	258.00	1.00	9.1
1Interval widths reported; true widths of the system are not yet known due to lack of drilling.
2SZ and HWZ refers to the South Zone and Hanging Wall Zone. NSA* No significant assay

 

Table 2. Details of Drill Holes Reported in This News Release

Drill Hole	Azimuth (Degrees)	Dip (Degrees)	Length (metres)	Easting (UTM)	Northing (UTM)
TLMZ21-03W4	225	-65	821	324450	6082401
TLMZ25-49	205	-68	671	324450	6082401
TLMZ25-49W1	205	-68	683	324450	6082401
TLMZ25-49W2	205	-68	686	324450	6082401
TLMZ25-49W3	205	-38	626	324450	6082401
TLSZ25-38W1	011	-56	280	324785	6081959
TLSZ25-39	335	-58	299	324943	6082011
TLSZ25-40	358	-51	380	324863	6081922
TLSZ25-41	008	-58	476	324863	6081922
TLSZ25-42	013	-54	464	324863	6081922
TLSZ25-43	013	-51	458	324863	6081922
TLSZ25-44	003	-56	408	324863	6081922
TLSZ25-45	003	-61	437	324863	6081922
TLSZ25-46	335	-45	241	324943	6082011
TLSZ25-47	345	-55	275	324786	6081955
TLSZ25-48	344	-50	230	324786	6081955

 

For Further Information, Please Contact:

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

Social Media Accounts:
X (Twitter)
Instagram
Facebook
LinkedIn

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.

Qualified Person

The scientific and technical information disclosed in this news release was reviewed and approved by Wesley Whymark, P. Geo., Consulting Geologist for the Company, and a Qualified Person as defined under National Instrument 43-101.

Technical Information

The drill core samples collected by Canadian Gold Corp. and described in this news release were transported in secure sealed bags for preparation and assay by either Paragon Geochemical in Surrey, BC or ALS Labs in Thunder Bay, Ontario. The drill core samples reported are NQ size ½ core samples crushed in their entirety to 80% passing -10 mesh, with one 500 g subsample split and analysed for gold by PhotonAssay. The surface samples reported were either field grab and channel samples that were bagged and transported to Paragon Geochemical in Surrey, BC. The entire sample was crushed in their entirety to 80% passing -10 mesh, with one 500 g subsample split and analysed for gold by PhotonAssay.

About Canadian Gold Corp.

Canadian Gold Corp. is a Canadian-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). (Tartan Lake Project Technical Report, Manitoba, Canada, April 2017 authored by Mining Plus Canada Consulting Ltd.). 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). McEwen Inc. (NYSE: MUX) (TSX: MUX) holds a 5.6% interest in Canadian Gold, and Robert McEwen, the founder and former CEO of Goldcorp, and Chairman and CEO of McEwen Inc., holds a 32.5% interest in Canadian Gold.

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.

Figure 1. Tartan Mine plan map illustrating the location of the Main and South Zones

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3276/276137_ba30a02154892b62_001full.jpg

Figure 2. Tartan Mine - Main Zone Longitudinal Section

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3276/276137_ba30a02154892b62_002full.jpg

Figure 3. Tartan Mine - South Zone Longitudinal Section

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3276/276137_ba30a02154892b62_003full.jpg

Figure 4. Tartan West property illustrating location of grab and channel sample assay highlights

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3276/276137_ba30a02154892b62_004full.jpg

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276137

FAQ

What were the top drill results for Canadian Gold Corp (STRRF) at Tartan Mine on Nov 27, 2025?

Top results include 12.3 gpt Au over 14.0 m, 8.2 gpt Au over 9.9 m, and 10.7 gpt Au over 4.5 m.

How many holes intersected mineralization in Canadian Gold's Phase 4 Tartan drilling (STRRF)?

31 of 35 holes (89%) intersected what the company considers potentially economic mineralization.

What is the significant South Zone intercept reported by Canadian Gold (STRRF)?

A broad intercept of 82.0 m at 1.3 gpt Au was reported, containing multiple higher-grade sections.

Does Canadian Gold (STRRF) have nearby exploration upside at Tartan West?

Yes; surface sampling on Tartan West returned grab and channel assays up to 28.9 gpt Au and the company holds an option to acquire 100%.

Will Canadian Gold (STRRF) remain independent after the Nov 27, 2025 announcement?

The company is in the process of being acquired by McEwen, with closing expected in early 2026.

Do the reported intervals from Tartan Mine represent true widths for investors (STRRF)?

No; the release states intervals are interval widths and true widths are not yet known.