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

Executive Summary

• Canadian Gold Corp. reported high‑grade drill intercepts from its Phase 4 program at the 100 % owned Tartan Mine, including 12.3 g/t Au over 14 m, 8.2 g/t Au over 9.9 m and 10.7 g/t Au over 4.5 m on the Main Zone’s Western Flank.
• South Zone drilling also returned notable grades, such as 5.2 g/t Au over 5 m and a broad 82‑m interval averaging 1.3 g/t Au with multiple higher‑grade sections.
• The company is in the process of being acquired by McEwen Inc., with closing expected in early 2026, positioning the results as material to the pending transaction.

Key Details

• Main Zone – Western Flank
• Five new holes expanded mineralization ~30 m west and over an 80‑m vertical extent (440–520 m depth).
• Highlight intercepts:
  • 12.3 g/t Au over 14.0 m (Hole TLMZ25‑49)
  • 8.2 g/t Au over 9.9 m (Hole TLMZ25‑49W2)
  • 10.7 g/t Au over 4.5 m (Hole TLMZ25‑49W1)

• 31 of 35 holes (89 %) intersected potentially economic mineralization in the Main Zone to date.

• South Zone

• Significant intercepts include:

  • 5.2 g/t Au over 5.0 m (TLSZ25‑38W1) – internal high‑grade up to 12.5 g/t Au over 1.0 m
  • 4.4 g/t Au over 4.0 m (TLSZ25‑40) – internal high‑grade up to 8.9 g/t Au over 1.6 m
  • 82.0 m at 1.3 g/t Au (TLSZ25‑41) with multiple higher‑grade lenses (e.g., 7.2 g/t Au over 1.0 m).

• Tartan West Property (Near‑Mine Target Generation)

• Surface grab samples assayed up to 28.9 g/t Au; channel samples up to 28.5 g/t Au.

• Canadian Gold holds an option to acquire 100 % of the Tartan West property (option disclosed May 16, 2025).

• Acquisition

• Canadian Gold is being acquired by McEwen Inc. (NYSE: MUX / TSX: MUX); closing anticipated in early 2026.

• Technical Information

• All drill core samples were NQ‑size ½‑core, crushed to 80 % passing –10 mesh and assayed by PhotonAssay at Paragon Geochemical (Surrey, BC) or ALS Labs (Thunder Bay, ON).
• Qualified Person: Wesley Whymark, P.Geo., Consulting Geologist.

Notable Quotes

• “The encouraging drill results across the Main and South Zones continue to support our plan for a potential mine restart and enhance the value of Canadian Gold as we move toward closing the McEwen transaction,” – Michael Swistun, President & CEO.