Cdn Gold applies for Lac Aresnault drill permit

Executive Summary

• Canadian Gold Resources submitted permit applications for a maiden diamond‑drill program at Lac Arsenault (36 holes, ~2,345 m) pending MRNF approval.
• The company received bulk‑sampling permits for a 5,000‑tonne program but has been asked to pause while additional First Nations consultation is completed; no material delay expected.
• Director Ken Booth resigned from the board effective immediately.

Key Details

• Drill Program Application: 36 drill holes totaling ~2,345 m submitted to Quebec’s Ministere des Ressources naturelles et des Forets (MRNF). Objective: verify historic high‑grade intercepts and generate data for an NI 43‑101 compliant resource estimate.
• Historical Resource Context: Prior non‑NI 43‑101 estimates range from 40,000 t @ 15.43 g/t Au (197 g/t Ag) to ~200,000 t @ 9.59 g/t Au (~61,500 oz Au). These are disclosed for context only and are not considered current resources.
• Planned Drill Activities: Twin/verify historic holes and channel samples; apply modern QA/QC; collect sufficient new data for an independent mineral resource estimate under NI 43‑101 and CIM standards.
• Bulk Sampling Permit: Received July 15, 2025 for a 5,000‑tonne bulk sample, contingent on drilling three shallow water monitoring wells and completing an Autorisation pour Travaux à Impacts (ATI) report.
• First Nations Consultation Pause: MRNF requested a temporary pause to obtain input from the Mi'gmawei Mawio'mi Secretariat (MMS); company is re‑engaging MMS while maintaining dialogue with Gesgapegiag First Nation, which has expressed no opposition.
• Meeting Schedule: Joint meeting with MMS and MRNF set for September 11, 2025 to address ATI requirements; company does not anticipate a material delay to bulk sampling commencement.
• Board Resignation: Ken Booth resigned as director effective immediately to pursue other professional commitments; the board thanked him for his contributions since inception.
• Qualified Person Statement: Technical information reviewed and approved by Mark Smethurst, P.Geo., Director of Canadian Gold and qualified person under NI 43‑101.

Notable Quotes

“The submission of our first drill permit applications marks an important milestone as we move toward validating the historic high‑grade results at Lac Arsenault and establishing an NI 43‑101 compliant resource base,” – Ronald Goguen, President & CEO, Canadian Gold Resources Ltd.