Canadian Gold Resources Announces Repricing of Private Placement

Dieppe, New Brunswick--(Newsfile Corp. - September 29, 2026) - Canadian Gold Resources Ltd. (TSXV: CAN) ("Canadian Gold" or the "Company") announces that it has repriced its previously announced non-brokered private placement (see news release dated September 1, 2026). The private placement is being repriced to more accurately reflect the current market price of the Company's common shares.

The non-brokered private placement (the "Offering") will consist of 1,481,482 common shares at a new price of CDN$0.0675 per share for gross proceeds of up to CDN $100,000. The common shares will be issued to two directors of the Company, each of whom is an accredited investor.

The Company intends to use the proceeds for general working capital purposes.

The subscriptions by the directors will constitute a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61101"). The Company expects such participation will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the securities subscribed for, nor the consideration paid, will exceed 25% of the Company's market capitalization. All securities issued pursuant to this placement are subject to a statutory hold period of four (4) months and a day from the date of issuance. The placement is also subject to customary closing conditions, including, but not limited to, the receipt of all necessary approvals including the acceptance of the TSX Venture Exchange.

None of the securities to be sold in connection with this placement have been or will be registered under the United States Securities Act of 1933, as amended, and no such securities were offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Canadian Gold Resources Ltd.

The Company is a junior exploration issuer advancing three high-grade gold properties totaling approximately 18,000 hectares in Québec's Gaspé Peninsula. The Company's strategy is to unlock the potential of historically explored assets through modern exploration and development, supported by a management team with a proven track record in discovery and project advancement.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Canadian Gold trades on the TSX Venture Exchange under the ticker "CAN" and has 58,068,876 common shares currently outstanding.

Forward-Looking Statements Disclaimer:

This news release contains "forward-looking statements," including but not limited to statements regarding the Company's strategic objectives and anticipated growth. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties that may cause actual results to differ materially. Readers are cautioned not to place undue reliance on these statements. The Company disclaims any obligation to update or revise any forward-looking information, except as required by applicable securities laws.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/316621