DIEPPE, New Brunswick, Feb. 28, 2025 (GLOBE NEWSWIRE) -- Canadian Gold Resources Ltd. ("Canadian Gold" or the "Company") (TSXV: CAN) announces that, effective as of February 21, 2025, it has terminated its investor relations agreement with Alliance Advisors, LLC (the “Agreement”) (see the Company’s news release dated January 20, 2025). As a result, the Company has withdrawn its application to TSXV to accept the Agreement.

The decision to terminate was made after careful consideration of the Company's strategic direction and continuing challenges in respect of the operating terms of the Agreement for both parties. The Company remains committed to enhancing shareholder value and will explore alternative options to ensure effective communication with its stakeholders and the broader investment community.

The Company also wishes to provide supplemental information and clarification regarding certain stock option grants originally announced on January 29, 2025, as follows: according to the terms of its stock option plan, the Company has granted, effective January 23, 2025, 1,500,000 options to members of the board of directors and 500,000 options to various officers, employees and non-investor relations consultants. Each option entitles the holder to acquire one common share of the Company at $0.25 per share for a period of 10 years. There are no vesting provisions.

About Canadian Gold Resource Ltd.

Canadian Gold Resources Ltd. (TSXV: CAN) is a Canadian exploration company focused on developing high-grade gold projects in the Gaspé Gold Belt of Quebec. The Company targets under-explored, past-producing properties with significant growth potential, leveraging modern exploration techniques to unlock value. With a team of experienced professionals and a commitment to sustainability and community engagement, Canadian Gold Resources is well-positioned to capitalize on opportunities within this historic and promising gold region. For more information, visit www.cdngold.com.

For further information, please contact:

Ronald Goguen
Chairman, President & CEO
Canadian Gold Resources Ltd.
rongoguen@cdngold.com
506-383-4274

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

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

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