Canadian Gold Corp. Commences Phase 3 Drill Program at Tartan Mine

Core Viewpoint - Canadian Gold Corp. has commenced its Phase 3 Drill Program at the Tartan Mine, aiming to expand the gold resource in the Hanging Wall Zone and Main Zone [1][2]. Group 1: Drill Program Details - The Phase 3 Drill Program is focused on testing the western extent of the Hanging Wall Zone (HWZ) and follows up on two significant intersections [2][4]. - The HWZ has shown promising results, with one hole returning 23.8 grams per tonne (gpt) gold over 12.6 metres, including 47.6 gpt gold over 5.8 metres, and another hole returning 20.6 gpt gold over 5.7 metres, including 30.4 gpt gold over 3.0 metres [3][4]. - In the Main Zone, the longest intercept in Tartan Mine's history was recorded at 4.2 gpt gold over 53.7 metres, including 12.0 gpt gold over 8.0 metres, indicating potential for resource expansion [4][5]. Group 2: Financial and Corporate Information - Proceeds from a recent private placement offering, announced on July 17, 2024, will be allocated to the Phase 3 Drill Program, with insiders participating in the offering [7]. - The Tartan Mine has a 2017 indicated mineral resource estimate of 240,000 ounces of gold at 6.32 g/t and an inferred estimate of 37,000 ounces at 4.89 g/t [10].