Canagold Resources Ltd. (CRCUF) SEC Filings

Canagold Resources Ltd. (CRCUF) reported assay results from three additional holes at its 100%-owned New Polaris Gold Project in northwestern British Columbia, part of a completed 14-hole, 7,277 m resource infill and expansion program.

NP26-08 returned 52.8 g/t gold and 0.83% antimony over 4.64 m, including 69.8 g/t gold and 0.13% antimony over 2.64 m, and 30.4 g/t gold and 1.75% antimony over 2.00 m. NP26-07 returned 24.6 g/t gold over 7.33 m, including 70.4 g/t over 1.18 m; it also reported 8.04 g/t over 10.00 m. NP26-09 returned 6.50 g/t over 6.92 m. The intercepts are core lengths; Canagold says drilling and modeling are insufficient to determine the veins’ true dip and strike orientation.

Canagold Resources Ltd. (CRCUF) common shares are directly held by Sun Valley Investments AG (96,019,010 shares; approximately 42.1%) and Goldlogic Corp. (17,476,937 shares; approximately 7.7%). Vikramjeet Singh Sodhi may be deemed to beneficially own 113,495,947 shares (approximately 49.8%) through these entities, although he holds none directly. Sunvalley Company FZCO may be deemed to beneficially own Goldlogic’s shares and owns 91.42% of Goldlogic. Sodhi, President of Sun Valley Investments AG’s Board of Directors and a Goldlogic director, directs voting and disposition of both holdings. Shares attributed to Sodhi and FZCO are held directly by the companies and are not counted more than once.

On September 18, 2026, Sun Valley Investments AG acquired 3,856,383 Common Shares directly from Canagold through a private subscription at C$0.47 per share, and 6,413,462 flow-through Common Shares from initial subscribers in Canagold’s private placement, through Oberon Capital Corp. acting as agent, at C$0.36 per share. Sodhi may be deemed to have acquired beneficial ownership of those same shares.

The reporting persons hold the shares for investment purposes. Sun Valley Investments AG may consider participating in future financings, but the reporting persons do not presently intend to increase their aggregate beneficial ownership to 50% or more.

Canagold Resources Ltd. reported assay results from five holes in its completed 14-hole New Polaris drilling program, which covered 7,277 m. Hole NP26-01 returned 13.20 m grading 3.83% Sb and 19.38 g/t Au, including 1.21 m at 30.46% Sb and 49.10 g/t Au; NP26-02 returned 6.06 m at 3.90% Sb and 14.97 g/t Au. The company noted that intercepts are core lengths and there has not been sufficient drilling and modelling to determine the veins’ true dip and strike orientation.

Separate metallurgical testing produced physical antimony metal grading greater than 99% Sb from New Polaris concentrate, using alkaline sulphide leaching followed by electrowinning; 99.7% of the antimony was extracted during leaching. Canagold plans further testing and technical evaluations, and is studying transportation logistics, processing and refining options, potential off-take arrangements, and facility requirements.

Canagold Resources Ltd. (CRCUF) completed a private placement financing of 5,319,149 common shares at $0.47 and 8,846,154 flow-through shares at $0.52, raising $7,100,000 in gross proceeds. The common share proceeds are earmarked for working capital, administrative costs and project development, while the flow-through proceeds will fund eligible Canadian exploration expenses at the New Polaris project.

The Toronto Stock Exchange granted conditional approval for the financing on September 8, 2026, and final approval is being sought. A four-month-and-one-day hold period applies, expiring January 19, 2027. Major shareholder Sun Valley Investments AG increased its beneficial ownership from 48.25% to 49.75% of Canagold’s outstanding common shares through participation in the offering.

Canagold Resources Ltd. remains an exploration-stage company focused on its 100%-owned New Polaris gold–antimony project in British Columbia, with no operating revenue. For H1 2026 it recorded a net loss of $428,000, an improvement from $854,000 a year earlier, and ended June 30, 2026 with cash of $2.64 million and working capital of $1.64 million. Most of the $3.9 million spent on New Polaris in H1 2026 related to environmental studies, permitting, drilling and technical staff.

The New Polaris feasibility study outlines an after-tax NPV (5%) of $425 million and IRR of 30.9% at a US$2,500/oz gold price, with pre-production CAPEX of $250 million and life-of-mine recovered gold of about 806,000 ounces over 8.3 years. All-in sustaining cost is estimated at US$1,247/oz. The project is advancing through British Columbia’s environmental assessment process, with the application filed in March 2026 and the project listed as a provincial priority.

Management highlights that the company has no revenues, negative operating cash flow and an accumulated deficit of $59.6 million, and states that continued operations depend on further equity or debt financing, creating material uncertainties that cast substantial doubt on its ability to continue as a going concern.

Canagold Resources reports a Q1 2026 net loss of $328,000, slightly better than the $418,000 loss a year earlier, as it remains a pre-revenue explorer focused on the New Polaris gold-antimony project in British Columbia.

Cash rose to $5.1M with working capital of $4.0M, mainly from equity financings, while the company spent about $1.8M advancing New Polaris, largely on environmental studies and Indigenous community engagement. Mineral property interests totaled $38.4M as of March 31, 2026.

The New Polaris feasibility study outlines an after-tax NPV (5%) of $425M, a 30.9% IRR and pre-production CAPEX of $250M, based on a US$2,500/oz gold price, with life-of-mine recovered gold of roughly 806,000 ounces and all-in sustaining costs of US$1,247/oz. The project is progressing through British Columbia’s environmental assessment process, but the financial statements highlight material uncertainties that cast substantial doubt about the company’s ability to continue as a going concern without ongoing external financing.

Canagold Resources Ltd. files its annual Form 20-F as an exploration-stage gold company with significant risk factors and no producing mines. The report notes a material going-concern uncertainty, citing no operating revenues, recurring losses and an accumulated deficit of about $59.2 million as of December 31, 2025.

Canagold focuses on the New Polaris gold project in British Columbia, its only material property, with total capitalized acquisition and development costs of about $37.3 million. The company had 193,965,699 common shares outstanding at December 31, 2025 and discloses potential dilution from options and share units, PFIC-related U.S. tax risks, penny-stock and volatility concerns, extensive environmental and regulatory exposure, and strong dependence on future equity financing and gold prices.

Canagold Resources Ltd. has advanced its New Polaris gold-antimony project by submitting an Environmental Assessment application to the BC Environmental Assessment Office, moving the project into the formal provincial review process toward a potential construction decision.

The company highlights extensive technical studies, environmental baseline work, and ongoing engagement with Indigenous Nations, local communities, regulators, and other stakeholders, emphasizing mitigation measures and long-term sustainability. Previously disclosed feasibility work shows after-tax NPV (5%) of C$793 million, after-tax IRR of 47.3%, a payback period of 1.7 years, and after-tax free cash flow of C$1,145 million at a gold price of US$3,300.

Canagold Resources Ltd. reports a 2025 net loss of $2.59M with no operating revenue, while total assets rose to $38.4M as it continued capitalizing spending on the New Polaris gold project. Cash ended at $0.82M and working capital was slightly negative.

The 2025 feasibility study for New Polaris outlines a high‑grade underground mine with pre‑production capital of $250M, an after‑tax NPV (5%) of $425M, IRR of 30.9% and after‑tax free cash flow of $649M at a US$2,500/oz gold price.

Mineral reserves total 2.83Mt at 9.94 g/t gold for 904koz of probable reserves, and the life‑of‑mine all‑in sustaining cost is projected at US$1,247/oz. Auditors issued a going‑concern emphasis, and management acknowledges reliance on continued equity financing to fund operations and project advancement.