Toronto, Ontario--(Newsfile Corp. - June 13, 2024) - Canadian Gold Corp. (TSXV: CGC) ("Canadian Gold" or the "Company") announces a non-brokered private placement offering of up to $1,500,000, by the issuance of both flow-through common shares and non-flow through common shares.

Each flow-through share will be priced at $0.16 per share, and each non-flow through common share will be priced at $0.14.

The use of proceeds shall be used primarily for exploration at the Company's Tartan Lake Project in Flin Flon, Manitoba and for working capital.

The offering is subject to receipt of approval by the TSX Venture Exchange and of any other regulator having jurisdiction. It is intended that the flow-through shares will qualify as 'flow-through shares' within the meaning of the Income Tax Act (Canada) and will be offered to all qualified purchasers resident of any Canadian province in reliance upon exemptions from the prospectus and registration requirements of applicable securities legislation. The securities issued upon the closing of the offering will be subject to a four month hold period from the date of issue, including any other re-sale restrictions imposed by applicable securities regulatory authorities.

A finder's fee equal to 6% of the gross proceeds raised may be paid to eligible finders in connection with the offering.

For Further Information, Please Contact:

Michael Swistun, CFA
President & Chief Executive Officer
Canadian Gold Corp.
(204) 232-1373
[email protected]

About Canadian Gold Corp.

Canadian Gold Corp. is a Toronto-based mineral exploration and development company whose objective is to expand the high-grade gold resource at the past producing Tartan Mine, located in Flin Flon, Manitoba. The Company holds a 100% interest in greenfields exploration properties in Ontario and Quebec adjacent to some of Canada's largest gold mines and development projects, specifically, the Canadian Malartic Mine (QC), the Hemlo Mine (ON) and Hammond Reef Project (ON). The Company is 36% owned by Robert McEwen, who was the founder and CEO of Goldcorp and is Chairman and CEO of McEwen Mining.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release of the Company contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Canadian Gold's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.