Canadian Gold Corp. announced additional drill results from its Phase 1 Exploration Program at the Tartan Mine, located near Flin Flon, Manitoba, which builds on the earlier drill holes that are targeting resource growth at depth. The results to date indicate the potential for a larger discovery below the current resource estimate, which remains open for meaningful expansion.

Exploration Drilling Tartan Mine. The Company intends to correct deviation issues during Phase 2 by using directional drilling equipment that is able to better target the intended area. The Company is currently planning for its Phase 2 drill program, which is scheduled to start shortly.

With aid of directional drilling, the Company will initially target extensions of the known high-grade and disseminated gold mineralization below and adjacent to holes TLMZ21-12 and TLMZ23-26 discussed above. Field work near the Tartan Mine has identified multiple zones of mineralization on surface with new assays up to 13.0 gpt gold. The focus to date has been around the mine area in order to potentially utilize the underground infrastructure (which would lower start-up costs) should a new discovery be made.

The high-grade sample taken at the Tailings Pond Zone (TPZ) is located 1.4 km from the Tartan Mine. There are currently 78 samples pending. Development Update - Gold Recovery Test Work Review.

objective: Increase Gold Recoveries, Lower Costs and Risks. An average of 85% gold recovery was achieved during the final year of production with some months being greater than 90%. It is the Company's belief that new, simplified mill design (crushing, grinding, gravity concentration followed by whole ore leaching), should be able to increase recoveries to low-mid 90%, while decreasing the cost per ounce and lowering the technical risk based on grind sizes that are considered coarse (300 and 150 um K80 primary grind).

The Company intends to do further testing using this simplified design to see if the projected gold recoveries can be further increased using a finer grind size, likely feasible due the low electricity costs within Manitoba. Drill Highlights below 2017 Resource Estimate (525 Metre Limit). Drill Hole, From (metres), To (metres), Interval (metres), Grade (gpt), Depth Below Surface (metres), Zone, TLMZ21-01, 814.8, 819.0, 4.2, 9.7, 700, MZ, TLMZ21-12, 769.0, 781.6, 23.8, 670, HWZ, Including, 770.9, 776.7, 5.8, 47.6, TLMZ23-26, 1,007.0, 1,020.0, 13.0, 13.0.0, 6.6, 720, MZ, TLM Z21-12W1, 733.5, 734.8, 1.3, 10.0, 640, HWZ, And, 745.9, 745.9, 9.4 km, 745.9, 6.8, 745.9, 1.4 km, 775.0, 745.9, 2.0, 745.7, 745.9, 650, HWZ, and 761.0, 763.0, 2.0, 13.0., TLMZ23-12W1, 886, 892, 6.6, 720.6, 720, M Z, TLMZ21- 12W1, 733.7, 1.3, 1.0, 10.0, 6.0, 640, HWz, 745.9, 845.9, 745".