Dieppe, New Brunswick--(Newsfile Corp. - April 6, 2026) - Canadian Gold Resources Ltd. (TSXV: CAN) ("Canadian Gold" or the "Company") is pleased to report initial results from its completed diamond drilling program at the Lac Arsenault Project located in the Gaspé Peninsula, Québec.
The drill program was designed to test the presence and geometry of gold mineralization at depth and along strike within the Baker vein system, including beneath the area targeted for the planned bulk sample. A total of ten (10) drill holes were completed in three fan configurations with varying dips designed to test the geometry of the mineralized structure.
Highlights
LAC-25-BM-001: 19.5 g/t Gold and 47.0 g/t Silver over 1.0 metre beginning 30.35 metres downhole and 1.89 g/t Gold over 1.3 metres beginning 40 metres downhole (previously reported)
LAC-25-BM-002: 7.01 g/t Gold over 1.2 metres beginning 42.25 metres downhole
LAC-25-BM-003: 4.00 g/t Gold and 7.00 g/t Silver over 1.45 metres beginning 49.15 metres downhole
LAC-25-BM-008: 8.63 g/t Gold and 70.00 g/t Silver over 0.25 metres beginning 50.15 metres downhole
LAC-25-BM-009: 5.32 g/t Gold and 33.00 g/t Silver over 0.3 metres beginning 53.2 metres downhole
LAC-25-BM-010: 15.00 g/t Gold and 95.00 g/t Silver over 0.4 metres beginning 50.9 metres downhole
Management Commentary
Ron Goguen, President and CEO of Canadian Gold Resources, commented:
"These results represent an important step in advancing our understanding of the Baker vein system. The program was specifically designed to test the geometry of the vein through fan drilling, and the results provide valuable information to guide future work, including the continued evaluation of the planned bulk sample area."
A total of ten (10) drill holes were completed in three fan configurations, oriented generally between 298° and 306° azimuth (true north), except for hole LAC-25-BM-010, which was oriented at 283°, with varying dips designed to test the geometry and continuity of the mineralized structure:
Holes 1, 2, and 3 were drilled as a fan at dips of 45°, 60°, and 70°, respectively
Holes 4, 5, and 6 were collared approximately 20 metres southwest along strike from Holes 1-3
Holes 7, 8, 9, and 10 were collared approximately 20 metres northeast along strike from Holes 1-3
The Baker vein is interpreted as a steeply dipping (~85°) structure trending northeast and hosted within a broader shear zone containing subsidiary veinlets. Mineralization is characterized by variability in grade distribution typical of nuggety gold systems.
All drill holes intersected the Baker vein, with assay results confirming the presence of gold mineralization throughout the tested area.
The Company also reports that the current drill program at Lac Arsenault has now been completed. Remaining assay results will be released as they are received, compiled, and interpreted. The Company will integrate all results into an updated geological model to determine next steps in exploration and development.
In parallel, the Company is advancing permitting for its maiden diamond drill program at its 100%-owned Robidoux Project, also located in the Gaspé Peninsula, Québec.
Reported intervals are downhole lengths. Estimated true widths are approximately 60% to 75% of reported downhole intervals based on current geological interpretation of the Baker vein geometry. True widths are preliminary in nature and may be refined with additional drilling.
Drill Hole Collar Information (NAD83, Zone 19N)
| Hole ID | Easting | Northing | Elevation (m) | Dip (°) | Azimuth (°) | Length (m) |
| LAC-25-BM-001 | 335085 | 5360707 | - | 45 | 298 | 105 |
| LAC-25-BM-002 | 335085 | 5360707 | - | 60 | 298 | 87 |
| LAC-25-BM-003 | 335085 | 5360707 | - | 70 | 298 | 78 |
| LAC-25-BM-004 | 335069 | 5360695 | - | 45 | 303 | 69 |
| LAC-25-BM-005 | 335069 | 5360695 | - | 60 | 306 | 81 |
| LAC-25-BM-006 | 335069 | 5360695 | - | 70 | 306 | 87 |
| LAC-25-BM-007 | 335102 | 5360722 | - | 45 | 298 | 90 |
| LAC-25-BM-008 | 335102 | 5360722 | - | 60 | 301 | 102 |
| LAC-25-BM-009 | 335102 | 5360722 | - | 70 | 303 | 87 |
| LAC-25-BM-010 | 335102 | 5360722 | - | 45 | 283 | 81 |
Selected Intervals - Downhole vs Estimated True Width
| Hole | Downhole (m) | Estimated True Width (m) |
| BM-001 | 1.0 | 0.75 |
| BM-002 | 1.2 | 0.7 |
| BM-003 | 1.45 | 0.6 |
| BM-008 | 0.25 | 0.15 |
| BM-009 | 0.3 | 0.13 |
| BM-010 | 0.4 | 0.3 |
Results from the program demonstrate the presence of gold mineralization at depth beneath the planned bulk sample area and along strike within the tested corridor, consistent with historical drilling; however, additional drilling is required to confirm continuity. Gold grades vary both vertically and along strike, consistent with the nugget effect commonly associated with epithermal-style gold mineralization.
Higher-grade intervals may occur within broader zones of lower-grade mineralization; where applicable, the Company reports individual higher-grade intervals separately rather than compositing into broader lower-grade intervals.
Sampling, Analytical Methods and QA/QC
Drilling was completed using HQ-sized diamond core, which was split to half-core for sampling. Samples were securely transported to Activation Laboratories Ltd. ("ActLabs") in Ancaster, Ontario.Analytical methods include:
A2B-30 gold fire assay
1A3-30 gold fire assay (overlimit method)
Silver, lead, and zinc analyzed using ICP No capping of gold or silver assays has been applied.
ActLabs is accredited under ISO/IEC 17025 standards. The Company maintains a QA/QC program including insertion of certified standards and blanks at regular intervals.
Qualified Person
The scientific and technical information in this news release has been reviewed and approved by Mark Smethurst, P.Geo., a Qualified Person under NI 43-101.
About Canadian Gold Resources Ltd.
Canadian Gold Resources Ltd. (TSXV: CAN) is a junior exploration company advancing three high-grade gold properties totaling ~16,000 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.
For further information, please contact:
Ronald J. Goguen
President & CEO, Director
Canadian Gold Resources Ltd.
rongoguen@cdngold.com
+1 (506) 857-4090
Investor Relations
investors@cdngold.com
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 54,868,876 common shares outstanding.
Forward-Looking Statements Disclaimer:
This news release contains "forward-looking statements," including but not limited to statements regarding anticipated exploration activities, timing, objectives, and potential outcomes of the drill program. 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. Canadian Gold disclaims any obligation to update or revise any forward-looking information, except as required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/291268
Source: Canadian Gold Resources Ltd.
