Canadian Gold Resources Limited entered into a formal mining claims sale agreement to acquire 34 Mineral claims in the Robidoux Property located in Western Gaspe´, Que´bec from Fancamp Exploration Ltd. for CAD 0.5 million.

Canadian Gold Resources Limited entered into a formal mining claims sale agreement to acquire 34 Mineral claims in the Robidoux Property located in Western Gaspe´, Que´bec from Fancamp Exploration Ltd. (TSXV:FNC) for CAD 0.5 million on January 31, 2023. The Transaction's purchase price as listed in the Sale Agreement for the Robidoux Mining Claims package is set at CAD 500,000, of which CAD 50,000 is to be paid to Fancamp by Canadian Gold at the signing of the Sale Agreement, and CAD CAD 50,000 is to be paid 180 days following the signature date. The Transaction and the transfer of the Mineral Claims to Canadian Gold is conditional upon Canadian Gold completing an Initial Public Offering within fourteen months of the signature date of the Sale Agreement and thereafter issuing shares from the Canadian Gold treasury in a value of CAD 400,000 to Fancamp.

Should Canadian Gold fail to complete an IPO within the IPO Deadline, the Sale Agreement shall be terminated and Fancamp shall have no further obligations to transfer the Mineral Claims to Canadian Gold. As part of this Transaction, Fancamp will be entitled to a 2% Net Smelter Return in respect to products derived from the Robidoux Property in accordance with provisions of a royalty agreement to be entered into between the parties.