Canagold Accelerates Antimony Production Strategy with Additional Drilling and Technical Studies

Core Viewpoint - Canagold Resources Ltd. is initiating a comprehensive work program for 2026 at its 100%-owned New Polaris project, focusing on expanding gold-antimony resources and evaluating the financial benefits of incorporating antimony production into the project development plans and economics [1][6]. Group 1: 2026 Work Program - The fully funded program will include approximately 7,000 metres of diamond drilling, scheduled to commence in June and continue through July 2026, targeting the expansion of high-grade gold-antimony mineralization [2]. - The objective of the drilling is to further define and potentially increase the gold-antimony resource base, which is expected to positively impact early production and overall project economics [2][5]. Group 2: Metallurgical and Engineering Studies - In parallel, the company will conduct additional metallurgical test work and preliminary engineering studies to optimize the flotation and refining process flowsheet for producing saleable antimony metal [3]. - Drill core from the 2026 program will provide fresh material for detailed metallurgical characterization, recovery optimization, and product specification testing [3]. Group 3: Economic Impact of Antimony Production - The majority of mining, crushing, grinding, and processing costs associated with antimony recovery are already included in the existing gold-focused mine plan, suggesting that the addition of a saleable antimony product will represent a meaningful incremental revenue stream with limited additional costs [4]. - Engineering and financial studies planned for 2026 will quantify the potential impact of antimony revenue on overall project cash flow, operating margins, and after-tax returns [5]. Group 4: Strategic Importance - The integration of antimony production is believed to enhance the strategic and economic profile of New Polaris, especially considering the growing global demand for secure and diversified critical mineral supply [6].