Canagold Announces Positive Antimony Concentrate Production Results for the New Polaris Project Grading 59.1% Sb and 98.3 gpt. Au

Executive Summary

• Canagold reported positive antimony‑gold flotation test results from its New Polaris gold‑antimony project.
• The locked‑cycle test produced a concentrate containing 59.1 % Sb and 98.3 g/t Au with 93.1 % Sb recovery and 91.8 % Au recovery overall.
• Results suggest the potential to generate significant additional antimony revenue, which was not included in the July 2025 Feasibility Study.

Key Details

• Test Sample: 110‑kg composite derived from 47 diamond drill core samples across 17 holes in the high‑grade antimony zone (identified in the Jan 22 2025 resource model).
• Flotation Performance:
• Sb‑Au concentrate assay: 59.1 % Sb, 98.3 g/t Au.
• 93.1 % Sb recovery in the Sb‑Au concentrate.
• Combined Au and Sb‑Au concentrates achieved 91.8 % Au recovery.
• Project Context:
• Feasibility Study (July 2025) demonstrated low Capex and low AISC for gold production but did not model antimony revenue.
• Indicated Mineral Resource Estimate (April 2 2025) includes 5,630 t of Sb at 0.6 %; FS mine plan includes 5,173 t Sb.
• Economic Implication: Antimony prices have risen sharply; inclusion of antimony revenue could materially improve project economics, though no assurance it will be realized.
• Next Steps: Continued metallurgical testing and economic assessments to determine feasibility of incorporating antimony into the financial model.
• Qualified Person: Garry Biles, P.Eng., President & COO, NI 43‑101 qualified person who prepared and approved the technical content.
• Laboratory: Samples analyzed by Blue Coast Research Ltd., Parksville, BC.

Notable Quotes

“These new results highlight the project's ability to produce a very high‑grade gold‑antimony concentrate, which has the potential to create significant additional value on top of the already outstanding economics.” – Catalin Kilofliski, CEO, Canagold Resources Ltd.