Canagold Files Feasibility Study Report for the New Polaris Project

Executive Summary

• Canagold Resources filed its NI 43‑101 Technical Report for the New Polaris gold‑antimony project, presenting full feasibility study results.
• The study shows a base‑case after‑tax NPV of $425 M (IRR 30.9%) at $2,500/oz gold and an upside NPV of $793 M (IRR 47.3%) at $3,300/oz gold, with pre‑production CAPEX of $250 M.
• Project economics include LOM after‑tax free cash flow of $649 M ($2,500 price) to $1.1 B ($3,300 price), AISC of $1,247/oz, and an estimated 805,589 ounces of gold recoverable over life of mine.

Key Details

• Technical Report: “New Polaris Project, NI 43‑101 Technical Report & Feasibility Study” filed on SEDAR+ and EDGAR; available on company website.
• NPV / IRR (Base Case): After‑tax NPV $425 M; after‑tax IRR 30.9%; payback of pre‑production CAPEX in 2.4 years (discount rate 5%, gold price $2,500/oz).
• NPV / IRR (Upside Case): After‑tax NPV $793 M; after‑tax IRR 47.3%; payback of pre‑production CAPEX in 1.7 years (gold price $3,300/oz).
• Life‑of‑Mine (LOM) Cash Flow: After‑tax free cash flow $649 M at $2,500/oz; $1.1 B at $3,300/oz.
• Capital Expenditures: Estimated pre‑production CAPEX of $250 M.
• All‑in Sustaining Cost (AISC): US$1,247 per payable ounce.
• Ore Grade & Production: High‑grade underground mine with LOM diluted grade 9.94 g/t Au; total contained gold 904,000 oz; projected mill recovered gold production 805,589 oz.
• Qualified Person: Garry Biles, P.Eng., President & COO, prepared, validated and approved the technical content.

Notable Quotes

“Catalin Kilofliski,” Chief Executive Officer, Canagold Resources Ltd. (contact details provided).