First Hole To Expand South Zone Is A Success At Tartan Mine

TORONTO - Canadian Gold Corp. reported that the first hole designed to significantly expand the South Zone to the southeast by 170 metres vertically at the Tartan Mine near Flin Flon, Manitoba, was a success. The hole intersected 6.1 gpt gold over 6.0 metres and discovered what the Company's geological team believes could be a new Hanging Wall Zone, which returned 8.4 gpt gold over 2.0 metres, further to the south. The result from the Hanging Wall Zone aligns with a hole drilled in 2022, which returned 29.1 gpt gold over 5.85 metres, making this an exciting new discovery.

Michael Swistun, CFA, President & CEO, said, “These remarkable results represent an exciting new chapter in our ongoing exploration of the orogenic gold system at the Tartan project. The South Zone is parallel to and right beside the Main Zone, which could be developed from the same underground workings at depth. Equally exciting is that higher up in hole TLSZ25-32, it appears that we have hit an additional high-grade gold parallel zone. The significant downward expansion of the South Zone gold mineralization at both a high grade and mineable width indicates what may be a significant new plunge line for the South Zone. The South Zone remains open along strike in both directions and at depth. The added prospect of a potential new Hanging Wall Zone is truly the icing on the cake for our geological team.

We are delighted to be able to focus on both the Main Zone and South Zone (as well as further drill into a potential third parallel zone discovery) drilling to have a dual approach of exploration and rapidly advance toward our goal of bringing the Tartan Mine back into production."