Tartan Mine Drilling Campaign Yields Strong Gold Intercepts as McEwen Acquisition Approaches

Expanding High-Grade Mineralization Along Multiple Zones

Flin Flon, Manitoba — Canadian Gold Corp. continues to demonstrate meaningful progress on its Tartan Mine exploration initiative, with Phase 4 drilling results delivering consistent intercepts of economic significance across multiple target areas. The exploration program, designed with american drill grade a standards, has intersected mineralization that supports the company’s pathway toward potential mine reactivation in partnership with McEwen Inc.

The most compelling results emerged from the Main Zone’s Western Flank, where recent drilling expanded known mineralization approximately 30 metres westward across an 80-metre vertical interval. Key intercepts included 12.3 gpt gold over 14.0 metres, 8.2 gpt gold spanning 9.9 metres, and 10.7 gpt gold intersected over 4.5 metres. This represents meaningful continuity in a zone previously identified but not extensively drilled.

Strategic Objective: Optimizing Production Economics

The underlying strategy guiding this drilling campaign targets a specific production metric: increasing ounces of gold per vertical metre. This focus directly addresses the economics of mine restart, allowing operators to maximize annual throughput while simultaneously reducing per-ounce production costs. The successful intercepts suggest this objective is achievable.

Of the 35 holes drilled to date in this multi-phase program, 31 (89%) have successfully intersected what the exploration team classifies as potentially economic mineralization within the Main Zone. This success rate validates both the targeting methodology and the geological model underlying the program.

South Zone Demonstrates Consistent Broader Envelopes

Parallel exploration at the South Zone revealed a different mineralization pattern: broader, lower-grade envelopes containing discrete higher-grade lenses. Drilling in this zone returned 5.2 gpt gold over 5.0 metres, supported by an internal interval of 12.5 gpt Au over 1.0 metre. A second hole delivered 4.4 gpt gold across 4.0 metres, with a 1.6-metre interval assaying 8.9 gpt gold.

Most significantly, one drill hole intercepted 82.0 metres of 1.3 gpt Au mineralization, punctuated by multiple higher-grade sections ranging from 5.5 to 7.2 gpt Au. These results indicate the South Zone possesses substantial size potential, though additional drilling is required to refine structural controls and delineate optimal mining boundaries.

Adjacent Properties Confirm Extension Potential

Surface exploration on the optioned Tartan West property, which adjoins the main mine, identified multiple high-grade mineralization zones through geological mapping and prospecting. Grab samples assayed as high as 28.9 gpt gold, with channel samples reaching 28.5 gpt gold. These surface indicators suggest the Tartan Shear Zone extending westward from the main mine property contains geological conditions favourable for gold mineralization.

The strategy envisions consolidating ore supply from multiple zones through a single processing facility at Tartan Mine, sourcing from both the Tartan Mine proper and potential discoveries along the extended Tartan Shear. This approach could materially improve project economics by reducing capital intensity per ounce while leveraging existing underground infrastructure.

Resource Base and Ownership Structure

The Tartan Mine hosts a 2017 indicated mineral resource estimate of 240,000 ounces of gold (1,180,000 tonnes at 6.32 g/t) and an inferred resource of 37,000 ounces (240,000 tonnes at 4.89 g/t). Canadian Gold Corp. retains 100% ownership of the main property while operating under option agreements for adjacent exploration ground.

The company is currently subject to acquisition by McEwen Inc., with closing anticipated in early 2026. Robert McEwen, founder and former CEO of Goldcorp, maintains a 32.5% stake in Canadian Gold, while McEwen Inc. itself holds 5.6%.

Technical Execution and Next Steps

Core samples were processed by either Paragon Geochemical in Surrey, BC or ALS Labs in Thunder Bay, Ontario, following standard NQ half-core preparation protocols. Gold analysis employed PhotonAssay methodology on 500-gram subsamples crushed to 80% passing -10 mesh. Surface samples underwent identical preparation and analysis procedures.

The geology team, led by Wesley Whymark, P. Geo., continues to refine the structural controls governing gold distribution to optimize future drilling efficiency. Exploration targets remain on both flanks of the Main Zone and across the broader South Zone, with particular focus on depth extensions and proximal areas to existing mineralization.

The ongoing drill campaign reflects confidence in the resource expansion thesis and the viability of returning the Tartan Mine to production economics capable of generating acceptable returns under current gold market conditions.