Canadian Goldfields to Commence Drill Program at Swayze Central Gold Project

Canadian Goldfields Discovery Corp. announced the commencement of its inaugural, fully funded 1,500-meter diamond drill program at the 100%-owned Swayze Central Gold Project in Ontario. Drilling is scheduled to begin on July 21, 2026, contracted to Gateway Drilling Ltd.

The program aims to test new targets identified through a review of historical geological data and evaluate selected historical drill intercepts. The drilling runs concurrently with an extensive soil geochemical survey targeting approximately 6,000 samples over three months. Management highlighted that exploration is advancing on multiple fronts to establish new targets for future exploration across the project.

Historical context provided includes 2010 drilling intercepts of 35.0 metres grading 4.05 g/t Au and 1982 mapping grab samples up to 22.22 g/t Au.

Canadian Goldfields Discovery Corp. (CGM) announced a drill program that represents a routine, expected step in the company's exploration lifecycle following the May 2026 acquisition of the Newton property and the February 2026 financing. The program is fully funded, eliminating immediate dilution risk for this specific activity.

The news is positive but incremental, aligning with previously communicated exploration plans. It does not contain genuinely new, unexpected, or market-moving information. Historical data provides a geological foundation, but true widths for past intercepts remain unknown, keeping expectations grounded until new drilling validates the targets.

Canadian Goldfields Discovery Corp. is a junior exploration company focused on gold projects in Ontario. Its flagship asset is the Swayze Central Gold Project, formerly known as the Newton Gold Project, which is situated in the Swayze Greenstone Belt approximately 100 km southwest of Timmins and 36 km south of Foleyet. The property comprises approximately 7,029 hectares of fee simple patented claims. Geological focus centers on orogenic gold deposit types within the Krista zone, Michelle zone, and Michelle extension. The project complements the company's Miminiska Gold Project, creating a consolidated land package in a prolific gold-bearing terrane.