202612 releases
Canagold Drills 69.8 g/t Gold (Au) over 2.6m; Within 4.64m Averaging 52.8 g/t Au and 0.83% Antimony (Sb)
Canagold Resources has reported assay results from three additional holes (NP26-07, NP26-08 and NP26-09) in its 14-hole, 7,277 m drilling program at the New Polaris Gold Project in northwestern British Columbia. The highlight is 52.8 g/t Au and 0.83% Sb over 4.64 m from 503 m down hole in NP26-08, including 69.8 g/t Au and 0.13% Sb over 2.64 m.
Drill resultsCanagold Successfully Produces Physical Antimony Metal Grading Over 99% Sb from New Polaris Concentrate
Refining test work at Core Metallurgy Pty Ltd. in Australia produced physical antimony metal grading greater than 99% Sb from concentrate generated at the New Polaris gold-antimony project in northwest British Columbia, using an alkaline sulphide leach followed by electrowinning, with 99.7% antimony leach extraction. The concentrate used assayed 59.1% Sb and 98.3 g/t Au from earlier locked-cycle flotation tests. Further metallurgical test work and technical evaluations are planned to optimize process parameters and support engineering and feasibility-level studies.
CorporateCanagold Drills 30.46% Antimony (Sb) and 49.10 Gold (Au) over 1.21m; Within 13.2m Averaging 3.83% Sb and 19.38 Au at New Polaris
Drilling at the 100%-owned New Polaris Gold Project in northwestern British Columbia returned 3.83% Sb and 19.38 g/t Au over 13.20 m from 451.75 m in hole NP26-01, including 1.21 m at 30.46% Sb and 49.10 g/t Au. Hole NP26-02 returned 3.90% Sb and 14.97 g/t Au over 6.06 m, and NP26-03 returned 3.30% Sb and 15.08 g/t Au over 3.91 m. The 14-hole infill and expansion program totalled 7,277 m and is complete.
Drill resultsCanagold Arranged and Closed $7.1 M Financing
A private placement of 5,319,149 common shares at $0.47 and 8,846,154 flow-through shares at $0.52 closed for gross proceeds of $7,100,000. Flow-through proceeds will fund Canadian exploration expenses at the New Polaris project in British Columbia, with common share proceeds for working capital, administrative and project development expenses. Insider Sun Valley Investments AG bought 6,413,462 FT Shares and 3,856,383 common shares, raising its holding to 113,495,947 shares, or 49.75%. Shares are subject to a hold period expiring January 19, 2027.
FinancingCanagold’s New Polaris Gold-Antimony Project Included in Canada Investment Summit Prospectus
The 100%-owned New Polaris Gold-Antimony Project in northwestern British Columbia has been included in the Canada Investment Summit Prospectus, a list of Canadian projects presented to investors at the Summit being held in Toronto on September 14 and 15, 2026. The Summit is hosted by Prime Minister Mark Carney in partnership with CPP Investments and PSP Investments, with the objective of attracting up to $1 trillion of investment into Canada. Canagold completed a Feasibility Study for New Polaris in 2025, submitted its Environmental Assessment Application in April 2026, and the project was subsequently designated a Priority Project by the Province of British Columbia.
CorporateCanagold Announces Retirement of Chris Pharness and Promotion of Collen Middleton to Senior Vice President, Permitting and Compliance
Chris Pharness, Senior Vice President, Sustainability and Permitting, will retire, and Collen Middleton has been promoted from Vice President to Senior Vice President, Permitting and Compliance, effective September 1, 2026. Pharness joined in January 2024; Middleton joined in October 2025 and has more than 20 years of environmental consulting, regulatory permitting and environmental assessment experience. Canagold submitted its Environmental Assessment Application for the New Polaris Gold-Antimony Project in northwestern British Columbia in April 2026, and the project was designated a Priority Project by the province.
ManagementCanagold Successfully Completes Taku River Landing Craft Trials for the New Polaris Project
Landing craft trials on the Taku River were completed, confirming the river as a viable alternative freight corridor from Juneau, Alaska, to the Tulsequah River confluence near the proposed New Polaris Gold-Antimony Mine in northwestern British Columbia. The trials ran June 11 to June 19, 2026, using the Inlet Raider, a 98-foot-long by 23-foot-wide landing craft with an approximately four-foot draft and 100-ton cargo capacity. Preliminary observations indicate no significant negative effects on water quality, noise or shoreline wake, with Taku River Tlingit First Nation participating as environmental monitors.
CorporateNew Polaris Gold-Antimony Project Recognized as a Priority Project by British Columbia
The New Polaris Gold-Antimony Project in British Columbia has been added to the provincial government's list of priority major projects, as set out in the Province's Look West economic update published April 29, 2026. New Polaris is one of 17 new projects added to the list, which provides enhanced coordination across government agencies, streamlined permitting and increased regulatory certainty. The Province's broader initiative targets roughly $88 billion in major project investments and up to $200 billion in private-sector investment by 2035.
CorporateCanagold Submits Environmental Application for the New Polaris Project
An Environmental Assessment application for the New Polaris gold-antimony project has been filed with the BC Environmental Assessment Office, moving the project into the formal provincial review process ahead of a construction decision. The filing follows technical studies, environmental baseline work and engagement with Indigenous Nations, local communities and regulators. Canagold referenced financial highlights from its Feasibility Study at a US$3,300 gold price, as disclosed in its news release dated July 21, 2025.
CorporateCanagold's New Polaris Gold-Antimony Project Added to Canada’s Critical Metals Advanced Projects Map
The 100%-owned New Polaris gold-antimony project has been added to the Canadian government's advanced gold-antimony projects map. Canagold plans a fully funded 7,000-metre diamond drilling program beginning in June 2026, targeting expansion of high-grade gold–antimony mineralization within and adjacent to the current mine plan from the July 2025 feasibility study.
CorporateCanagold Accelerates Antimony Production Strategy with Additional Drilling and Technical Studies
A fully funded 2026 work program at the 100%-owned New Polaris project includes approximately 7,000 metres of diamond drilling from June through July 2026, targeting expansion of high-grade gold-antimony mineralization within and adjacent to the mine plan from the July 2025 feasibility study. Additional metallurgical test work and preliminary engineering studies will optimize the flotation and refining flowsheet for saleable antimony metal, with engineering and financial studies quantifying antimony revenue impacts on project cash flow and after-tax returns.
Drill resultsCanagold Resources Ltd. Announces Closing of $9.2M Financing
A private placement closed for gross proceeds of $9,228,456.50, consisting of 9,396,570 common shares at $0.45 and 10,000,000 flow-through shares at $0.50. Flow-through proceeds will fund Canadian exploration expenses at the New Polaris project in British Columbia, with other proceeds for working capital, administrative and project development expenses. Insider Sun Valley Investments AG bought 5,000,000 FT shares and 4,698,285 common shares, raising its holding to 103,226,102 shares, or 48.25%. Shares are subject to a hold period expiring June 14, 2026.
Financing
202511 releases
Canagold Advances Active Collaboration with Taku River Tlingit First Nation on Proposed New Polaris Mine
Taku River Tlingit First Nation issued a public release on November 3, 2025 summarizing its position and collaboration with Canagold on permitting for the New Polaris Mine, located approximately 100 kilometres south of Atlin, B.C. within TRTFN traditional territory. TRTFN stated it is not opposed to mining or responsible economic development in its territory provided activity complies with TRTFN laws, including the TRTFN Constitution Act, 1993 and the TRTFN Mining Policy, and that Canagold has worked collaboratively with it since 2023 as the mine undergoes environmental assessment.
CorporateCanagold Appoints Vice President Permitting and Compliance
Collen Middleton has been appointed Vice President Permitting and Compliance at Canagold Resources Ltd. He is a Registered Professional Biologist with over 20 years of experience in environmental consulting and regulatory permitting across western Canada, covering metals and coal mining, major infrastructure and energy projects, and served four years on the Board of the Alberta Society of Professional Biologists. He becomes a second senior permitting officer supporting Chris Pharness, Senior Vice President of Sustainability and Permitting, on the New Polaris permitting process.
ManagementCanagold Announces Positive Antimony Concentrate Production Results for the New Polaris Project Grading 59.1 % Sb and 98.3 gpt. Au
Antimony flotation locked cycle testing at the 100%-owned New Polaris gold-antimony project in northwest British Columbia produced an Sb-Au concentrate assaying 59.1% Sb and 98.3 gpt Au, with 93.1% Sb recovery and 91.8% overall Au recovery in the combined Au and Sb-Au concentrates. Testing began in April 2025 at Blue Coast Research in Parksville, B.C. using a 110-kilogram composite from 47 drill core samples across 17 holes. The July 2025 Feasibility Study includes no antimony revenue.
CorporateCanagold Files Feasibility Study Report for the New Polaris Project
The NI 43-101 technical report for the feasibility study on the 100%-owned New Polaris gold-antimony project in northwest British Columbia has been filed on SEDAR+ and EDGAR, with highlights first released July 21, 2025. The study shows an after-tax NPV of $425 million and 30.9% IRR at a US$2,500 gold price, with 2.4-year payback, and $793 million NPV and 47.3% IRR at US$3,300. Pre-production capital is estimated at $250 million, with LOM AISC of US$1,247/oz, a diluted grade of 9.94 g/t gold and 805,589 recovered ounces.
Study resultsCanagold Resources Ltd. Announces Closing of $4M Financing
A $4,000,000 private placement has closed, comprising 4,651,163 charity flow-through shares at $0.43 and 5,128,205 common shares at $0.39, for a total of 9,779,368 shares issued. Flow-through proceeds will fund Canadian and BC exploration expenditures at the New Polaris project, with the remaining $2,000,000 for working capital. Sun Valley Investments AG and affiliate Goldlogic Corp. participated, raising their combined holding to 48.25%; shares are subject to a hold period expiring December 19, 2025, with final TSX approval pending.
FinancingCanagold Announces Positive Feasibility Study Results for the New Polaris Project
A feasibility study for the 100%-owned New Polaris gold-antimony project in northwest British Columbia shows an after-tax NPV (5%) of $425 million and IRR of 30.9% with 2.4-year payback at US$2,500/oz gold, rising to $793 million and 47.3% at US$3,300/oz. The 8.3-year underground operation would process about 2.8 Mt at 9.9 g/t gold for 805,589 recovered ounces, with pre-production capital of $250 million and LOM AISC of US$1,247/oz; no antimony revenue is included. An NI 43-101 technical report is expected within 45 days, with the environmental assessment application targeted for Q4 2025.
Study resultsCanagold Resources Ltd. Announces Closing of $3.22M Charity Flow Through Financing
A charity flow-through financing has closed, with 9,200,000 flow-through common shares issued at $0.35 per share for gross proceeds of $3,220,000, to be spent on Canadian exploration expenses at the New Polaris project in British Columbia. Sun Valley Investments AG bought 3,680,000 shares and affiliate Goldlogic Corp. 920,000, lifting their combined holding to 48.25% of outstanding shares. No finder's fees were paid; the four-month hold period expires July 5, 2025, with TSX conditional approval received February 24, 2025.
FinancingCanagold Announces Antimony Mineral Resource Estimate for New Polaris Gold Project
An antimony mineral resource estimate for the New Polaris Gold Project in British Columbia quantifies 5,630 tonnes of antimony metal within the base case indicated gold resource and 1,195 tonnes within the base case inferred gold resource, reported as a subset of the total resource at the 4 gpt Au cutoff. The estimate was prepared by Sue Bird of Moose Mountain Technical Services. Further antimony resource and expansion analysis, plus additional metallurgical testing on processing methods, is planned for 2025.
Resource updateCautionary Note Regarding Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of the United States private securities litigation reform act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities…
NewsCanagold Receives Process Order to Proceed with Environmental Assessment Application for Permitting the New Polaris Project
The British Columbia Environmental Assessment Office has issued a process order allowing the New Polaris Project, located in the Traditional Territory of the Taku River Tlingit in northwestern British Columbia, to move into the Application Development and Review phase of its Environmental Assessment. Canagold will prepare and submit an application for an Environmental Assessment Certificate. The order followed a review including input from participating Indigenous Nations, the Technical Advisory Committee, Alaskan Tribes and a public comment period.
CorporateCanagold Identifies Significant Antimony Production Potential at New Polaris
Antimony mineralization has been identified alongside gold resources at the 100%-owned New Polaris Gold Project in northwestern British Columbia, 100 km south of Atlin. A 700 kg master composite metallurgical program run in 2022 at ALS Labs in Kamloops, using over 390 mineralized drill core intervals averaging 0.44% antimony, recovered 92% of the antimony into a bulk sulphide gold concentrate grading 3.07% antimony. Drill intercepts include 5.1 m at 9.08% Sb and 2 m at 11.86% Sb. Further antimony resource evaluation and metallurgical testwork are planned for 2025, with no impact on current permitting or mine development timelines.
Corporate
20247 releases
Canagold Resources’ New Polaris Project Advances to Process Planning Phase Following Environmental Assessment Recommendation
The British Columbia Environmental Assessment Office has recommended that Canagold's New Polaris Project, in the Traditional Territory of the Taku River Tlingit in northwestern British Columbia, move from the Readiness Decision to the Process Planning Phase of the environmental assessment, with the support of the Taku River Tlingit First Nation. Following stakeholder feedback, the Company has dropped on-site dore production in favour of producing a high-grade flotation concentrate, lowering power requirements, eliminating cyanide use, reducing barging and cutting on-site storage needs.
CorporateCanagold Completes Resource Expansion Drilling Program at New Polaris with Additional Strong Mineralization Intercepts
Assay results from two additional holes in the North Zone resource expansion program at the 100%-owned New Polaris gold project in northwestern British Columbia include 10.8 gpt gold over 4.3 m from 176.4 m and 10.4 gpt over 3.6 m from 166.8 m in hole NP24-34, and 14.1 gpt over 1.1 m from 202.7 m plus 10.4 gpt over 1.2 m from 252.3 m in NP24-33A. The program is complete at 10,300 metres in 34 holes, intercepting five separate mineralized zones, with modelling in progress.
Drill resultsCanagold Continues to Intercept Strong Mineralization in Resource Expansion Drilling Program at New Polaris
Assay results from 26 additional drill holes in the North Zone resource expansion program at the 100%-owned New Polaris gold project in northwestern British Columbia included 20.2 gpt gold over 4.4 m from 121.6 m in hole NP24-09, 18.3 gpt over 4.5 m from 69.8 m in NP24-28, 14.9 gpt over 2.1 m from 106.7 m in NP24-11 and 9.4 gpt over 9.8 m from 153.0 m in NP24-09. The program is complete, with 10,300 metres drilled in 34 holes and five separate mineralized zones intercepted.
Drill resultsCanagold Intercepts Strong Mineralization in First Five Resource Expansion Drill Holes at New Polaris
Assay results from the first five holes of the resource expansion program targeting the North Zone at the 100%-owned New Polaris gold project in northwestern British Columbia include 14.5 gpt gold over 3.8 m from 108.8 m and 12.9 gpt over 3.8 m from 206.5 m in hole NP24-01, 10.6 gpt over 5.0 m in NP24-02, 13.2 gpt over 2.6 m in NP24-04, and 12.3 gpt over 3.6 m plus 12.9 gpt over 4.6 m in NP24-05. Intercepts are core lengths. Drilling has reached 6,000 m of 12,000 planned metres, with four separate mineralized zones intercepted and work continuing until mid-August.
Drill resultsCanagold Initiates Resource Expansion Drilling at New Polaris Project
Drill crews have mobilized to the New Polaris gold project in northern British Columbia to restart drilling, with a 2024 program of 12,000 metres targeting high-grade mineralization adjacent to historic workings in the upper part of the deposit. Modeling of 36 historic drill holes identified a zone with potential for expansion to the north, with historical intercepts including 26.2 gpt gold over 4.3 m, 16.7 gpt over 1.6 m and 11.9 gpt over 3.0 m. The program aims to add Indicated Resources for possible inclusion in the ongoing feasibility study.
Drill resultsCanagold Resources Ltd. Announces Closing of $4.1M Charity Flow Through Financing
A charity flow-through financing with Sun Valley Investments AG has closed, with 15,700,000 flow-through common shares issued at $0.2625 each for gross proceeds of $4,121,500, to fund exploration at the New Polaris project in British Columbia. No finder fees were paid, and the shares are subject to a hold period expiring July 29, 2024. Sun Valley's holding rose from 63,338,133 shares (43.28%) to 84,038,133 shares (48.41%); TSX conditional approval was received March 26, 2024.
FinancingCanagold Appoints Chris Pharness as Senior Vice President Sustainability and Permitting
Chris Pharness has been appointed Senior Vice President Sustainability and Permitting at Canagold Resources, effective immediately. Pharness has 30 years of experience as an Environmental Professional, previously serving as VP Environment and Sustainability at Barkerville Goldmines Ltd. and VP Sustainable Development at Osisko Development Corp. He will work on advancing the New Polaris gold project in British Columbia through feasibility and permitting, including engagement with the Taku River Tlingit First Nation and stakeholders around Atlin, B.C.
Management
202310 releases
Canagold Resources Ltd. Announces Closing of Private Placement
A non-brokered private placement of 21,000,000 common shares at $0.21 per share has closed for aggregate gross proceeds of $4,410,000, with a statutory hold period ending December 1, 2023. Two insiders subscribed for an aggregate of 13,500,000 shares, a related party transaction under MI 61-101 for which the Company is relying on exemptions from valuation and minority approval requirements. The TSX gave conditional approval on June 19, 2023, and final approval is being sought. Proceeds will fund property development and general administrative and working capital purposes.
FinancingCanagold Resources Ltd. Announces Voting Results From Annual General And Special Meeting
All five director nominees listed in the May 17, 2023 Information Circular — Sofia Bianchi, Kadri Dagdelen, Michael Doyle, Carmen Letton and Andrew Trow — were elected at the annual general and special meeting held June 19, 2023, with votes for ranging from 91.33% to 99.39%. Shareholders also fixed the number of directors at five, re-appointed Smythe LLP as auditor, ratified the Omnibus Incentive Plan and related option and DSU grants until June 19, 2026, adopted new British Columbia Business Corporations Act articles including advance notice provisions, and passed a non-binding advisory resolution on executive compensation.
CorporateCanagold Appoints Vice President, Sustainability
Tim Caldwell has been appointed Vice President, Sustainability, responsible for permitting and stakeholder engagement at the New Polaris gold project in British Columbia; he previously worked for Teck Resources, Anglo American, Centerra Gold and Kinross Gold. Canagold also adopted an Omnibus Equity Incentive Compensation Plan effective January 1, 2023, replacing its prior stock option plan, with grants limited to 10% of issued and outstanding shares and subject to TSX and shareholder approval. Grants include 1,537,255 DSUs at $0.255 to independent directors and 1,724,082 RSUs at $0.245 to management, vesting over two years.
ManagementCanagold, Taku River Tlingit First Nation to Host Open House for Proposed Permitting of New Polaris Gold Project
An in-person open house for Taku River Tlingit First Nation citizens will be held Wednesday May 24, 2023 at the Atlin Community Centre, 217 Sinclair Ave, Atlin, B.C., from 9:00am to 1:00pm and 4:00pm to 8:00pm, with online presentations at 11:00am and 6:00pm, hosted by Canagold and TRTFN representatives to discuss the New Polaris gold project. Canagold filed the Initial Project Description and Engagement Plan with the B.C. EAO on March 29, 2023.
CorporateCanagold Increases Indicated Gold Resource by 89% in Updated Mineral Resource Estimate for New Polaris Gold Project, BC
An updated mineral resource estimate for the New Polaris gold project, 100 km south of Atlin, BC, with an effective date of April 20, 2023, reports 2.97 Mt at 11.6 gpt Au for 1.11 Moz indicated and 0.93 Mt at 8.93 gpt Au for 0.27 Moz inferred at a 4 gpt cutoff. Indicated contained gold rose 89% versus the 2019 PEA following 40,000 m of infill drilling. The estimate will feed the feasibility study, expected to conclude during 2024.
Resource updateCanagold Appoints Senior Vice President, Operations
Colm Keogh has been appointed Senior Vice President, Operations of Canagold Resources. Keogh is a Professional Mining Engineer with 30 years of underground hard-rock mining experience in Canada, the United States, Europe, Mexico, South America and Africa, previously working with Barrick Gold, Billiton Metals, Inco Gold, Anglo American, AMC Mining Consultants, Shanoon Resources and Eldorado Gold. The Company also refiled all EDGAR disclosure from August 3, 2022 to March 27, 2023 under the correct CEO name, correcting a clerical oversight.
ManagementCanagold Announces Groundbreaking Collaboration Agreement with Taku River Tlingit First Nation at New Polaris Project
A collaborative engagement agreement has been signed with the Taku River Tlingit First Nation covering Canagold's 100%-owned New Polaris gold project, located about 100 kilometres south of Atlin, B.C., within TRTFN traditional territory. The agreement provides a framework for information-sharing, permitting processes, environmental protection and monitoring, and benefit-sharing, and a platform for negotiating further agreements through permitting, construction and production. Over 30,000 metres of drilling in 54 holes was completed during 2021 and 2022, with a resource update planned for the feasibility study.
CorporateCanagold Files Initial Project Description and Begins Environmental Assessment and Permitting Process for Flagship New Polaris Project
An Initial Project Description and Engagement Plan for the New Polaris Project in northwest British Columbia has been submitted to the B.C. Environmental Assessment Office, formally starting the Early Engagement phase of the provincial assessment process. The IPD describes Canagold's plans to develop, operate and eventually decommission the gold project, which is located on the traditional territory of the Taku River Tlingit First Nation.
CorporateCanagold Confirms Near Surface High-Grade Gold, Including 53.8 gpt Au over 2.78 m and 18.0 gpt Au over 5.64 m in Y-Vein System at New Polaris
Assay results from 21 drill holes at the New Polaris project in northwestern British Columbia included 53.8 gpt Au over 2.78 m (2.03 m true width) from 63.92 m in hole P22Y10, 18.0 gpt Au over 5.64 m from 120.08 m in P22Y15W1, and 9.64 gpt Au over 7.14 m in P22Y09, from the Y19 and Y20 veins over a 300 m strike length. The program totalled 8,940 m in 28 holes, completed end-November 2022. Entry into the BC Environmental Assessment process is targeted for later in February, with the Ausenco feasibility study expected to take about 12 months. Mihai Draguleasa was appointed CFO and Corporate Secretary, replacing Philip Yee.
Drill resultsCanagold Announces Agreement with Taku River Tlingit First Nation for Flagship New Polaris Project
An agreement, Hà Khustìyxh/"Our Way," has been signed with the Taku River Tlingit First Nation covering development of Canagold's 100%-owned New Polaris gold project, located about 100 kilometres south of Atlin, B.C., within TRTFN traditional territory. The accord sets a framework for information-sharing, permitting, environmental protection and monitoring, and benefit sharing, and lays the foundation for negotiating long-term agreements through permitting, construction and production. Over 30,000 metres of drilling in 54 holes was completed in 2021 and 2022.
Corporate
202221 releases
Canagold Announces Closing of Fully Subscribed Rights Offering
A rights offering that expired December 9, 2022 has closed, with 25,277,221 shares issued to rightsholders at $0.175 per share for gross proceeds of $4,423,514, representing a 55% subscription rate, plus 20,352,577 shares issued to Sun Valley Investments AG under its standby guaranty. Of Sun Valley's $3,561,701, the company deducted $2,546,336 to repay and terminate its $2.5M August 2022 loan plus interest and $178,085 in guaranty fees. Sun Valley now holds 54,838,133 shares, or 40.06% of the 136,889,394 shares outstanding.
FinancingCanagold Announces Filing of a Rights Offering Circular
A rights offering circular and notice have been filed for a rights offering to shareholders of record as of November 10, 2022, with one right per common share held and every two rights entitling the holder to buy one share at $0.175, expected to raise $7,985,215. Sun Valley Investments AG, the largest shareholder, intends to exercise its basic subscription privilege and has provided a standby guaranty, having advanced a $2,500,000 unsecured bridge loan at 5.5% in August 2022. Rights trade on the TSX as CCM.RT from November 9 until expiry on December 9, 2022, with closing expected on or about December 13, 2022.
FinancingCanagold Announces Launch Of Guaranteed Rights Offering
A guaranteed rights offering will raise gross proceeds of $7,985,215 through 91,259,596 rights issued to shareholders of record on November 10, 2022, on a one-right-per-share basis, with every two rights exercisable for one share at $0.175, a 25% discount to the 5-day VWAP of $0.232804. Sun Valley Investments AG, holding 23.55%, will backstop unsubscribed shares and could reach 49.03%. Proceeds will repay a $2,500,000 bridge loan from Sun Valley and advance the New Polaris project in British Columbia; closing is expected on or before December 30, 2022.
FinancingCanagold Drills 22.1 Grams per Tonne Gold over 4.3 Metres in Y-Vein System at New Polaris
Assay results from the first four of 20 drill holes in an 8,000-metre program targeting the Y-vein system at the New Polaris project in northwestern British Columbia included 22.1 gpt gold over 4.3 m (1.8 m true width) from 225.7 m in hole P22Y04, 22.9 gpt over 3.0 m in P22Y03, and 9.39 gpt over 7.3 m in P22Y03. Over 5,400 metres of the program is complete. The infill holes aim to upgrade inferred resources to indicated for a feasibility study by Ausenco Engineering.
Drill resultsCanagold Announces Results of Special General Meeting of Shareholders, Closing of $1.5M in Charity Flow Through Financing
Disinterested shareholders approved the creation of a new control person at the October 17, 2022 Special General Meeting, with 16,948,367 shares (97.47%) voted in favour, allowing Sun Valley Investments AG to hold more than 20% of Canagold's shares. The company also closed a $1.5 million charity flow-through private placement with Sun Valley, issuing 4,700,000 shares at $0.32 for gross proceeds of $1,504,000, with proceeds going to exploration at the New Polaris project. Sun Valley now holds 23.55%.
CorporateCanagold Retains Ausenco Engineering to Complete Feasibility Study on New Polaris Project
Ausenco Engineering Canada Inc. has been retained to complete a feasibility study on the 100%-owned New Polaris gold project in northwestern B.C., with the study expected to conclude in approximately 18 months. Work includes a resource model update incorporating over 30,000 metres of additional drilling from 54 holes completed in 2021 and 2022, mine reserve and underground mine plan development, surface infrastructure and processing design, dry stack tailings design, renewable power evaluation, and capital and operating cost estimates.
Study resultsCanagold Resources Announces Additional Financing Plans
Additional financing plans are under consideration to fund the upcoming feasibility study, permitting and drilling at the New Polaris project in British Columbia. Options being evaluated include a private placement, a rights offering and additional flow-through financing, to be undertaken after the conclusion of the $1.5M Charity FT financing announced on September 1, 2022. Sun Valley, or an affiliate, is anticipated to participate in future financings, subject to TSX requirements and policies.
FinancingCanagold Resources Arranges $4M Financing
Up to $4 million in debt and equity financing has been arranged to fund drilling for the remainder of 2022, comprising a $1.5 million charity flow-through financing priced at a premium to market and a $2.5 million interim unsecured credit facility from Sun Valley Investments bearing 5.5% interest per annum. Sun Valley is expected to participate in the flow-through offering, raising its ownership above 20%, requiring TSX approval and shareholder approval at a Special General Meeting.
FinancingCanagold Resources Tenders Proposals for New Polaris Feasibility Study
A request for tender has been issued to seven qualified consulting engineering firms to complete a feasibility study on the 100%-owned New Polaris gold project in northwestern British Columbia, with completion expected to take approximately 18 months. The study will incorporate an updated mineral resource estimate using more than 30,000 metres of drilling in 54 holes completed in 2021-2022. The 2019 PEA indicated an after-tax NPV(5%) of C$469 million, 56% IRR and 1.9-year payback at US$1,500/oz gold.
Study resultsCanagold Mobilizes Drill Crews and Restarts Resource Expansion Drilling at the New Polaris Project
Drill crews have mobilized to restart drilling at the New Polaris gold project in northern British Columbia, with 8,000 metres planned for 2022, primarily targeting the shallower high-grade Y-vein system north of the C-West Main vein. Previous intercepts in the area included 30.6 gpt gold over 3.2 m, 13.0 gpt over 6.8 m and 22.7 gpt over 8.0 m. The program aims to upgrade Y-vein resources from Inferred to Indicated for an upcoming feasibility study and test extensions at depth.
Drill resultsCanagold Appoints Chief Technical Officer
Mike Doyle has been appointed Chief Technical Officer of Canagold Resources, effective August 9, 2022. Doyle, a director of the company, has over 35 years of mining and exploration experience with Rio Tinto, Inmet, Wardell-Armstrong and Sun Valley Investments, is a chartered engineer and senior geologist, and holds an M.Sc. in Environmental Management. He led the Rio Tinto exploration team that discovered the Las Cruces copper deposit in southern Spain.
ManagementCanagold Appoints New CEO and Director
Scott Eldridge has resigned as CEO and director of Canagold Resources effective August 02, 2022. Following an executive search, the board unanimously approved the appointment of Catalin Kilofliski as Chief Executive Officer and Mike Doyle as Director, effective August 03, 2022. Kilofliski previously served as Canagold's CEO from 2014 to 2018, while Doyle is a senior geologist and chartered engineer and an executive at Sun Valley Investments.
ManagementCanagold Announces Results of Annual and Special Meeting of Shareholders
Shareholders at the July 19, 2022 Annual and Special Meeting elected Dr. Carmen Letton, Ms. Sofia Bianchi, Mr. Andrew Trow, Dr. Kadri Dagdelen and Mr. Scott Eldridge as directors, with 59,490,047 common shares voted, representing 68.73% of shares outstanding as at the June 6, 2022 record date. Nominees Bradford Cooke, Martin Burian and Deepak Malhorta resigned from the board and did not stand. Smythe LLP was re-appointed as auditors, while the proposed Stock Option Plan amendment was voted down.
CorporateCanagold Summarizes Results of 30,000 m Infill Drill Program at New Polaris Project, BC, Highlights Include 13.6 gpt Over 25.1 m
Results from a 30,000 m, 54-hole infill drill program at the 100%-owned New Polaris gold project in northwestern British Columbia included 13.6 gpt gold over 25.1 m in hole 21-1800E3, 34.4 gpt over 6.6 m, and 15.8 gpt over 13.0 m from the C-West Main vein, plus 15 intercepts on the new C-9 and C-10 veins. Step-out holes traced C-West Main to at least 1,000 m depth. An updated interim resource estimate by Moose Mountain Technical Services is underway, with drilling to resume in summer 2022.
Drill resultsCanagold Announces Sale of Hot Springs Point Property in Nevada
Canagold Resources has sold its 100% interest in the 160-acre Hot Springs Point property in Eureka County, Nevada, to a third party for US$480,000. The property was one of 14 mineral properties and two royalties in the American Innovative Minerals USA gold package acquired in 2017, and is the fifth AIM property leased, optioned or sold. Seven Nevada properties remain available for option, lease or purchase as the company focuses on its New Polaris gold project in British Columbia.
AcquisitionCanagold Drilling Reports Two Highest Grade Drill Results of 54 Hole Program Including 13.6 gpt Gold over 25.1 m Length and 34.4 gpt over 6.6 m Length at New Polaris Project, BC
Final assay results from the 54-hole, 30,000 m infill drill program at the 100%-owned New Polaris gold project in northwestern British Columbia included 13.6 gpt gold over 25.1 m from 362.1 m in hole 21-1800E3, with 37.2 gpt over 5.0 m and 17.0 gpt over 9.0 m sub-intervals, and 34.4 gpt gold over 6.6 m from 362.7 m in hole 21-1700E3, including 646 gpt over 0.3 m. Drilling finished in February 2022; results will support upgrading Inferred resources to Indicated.
Drill resultsCanagold Drilling Intersects New Vein Grading 7.54 gpt Gold over 18.6 m Length at New Polaris Project, BC, Additional High-Grade Mineralization Outlined in C-West Main Vein
Assay results from seven additional drill holes at the 100%-owned New Polaris project in northwestern British Columbia included a new vein below the current 600 m resource depth, returning 7.54 gpt gold over 18.6 m from 679.8 m in hole 22-1844E2W1A and 12.3 gpt gold over 2.3 m from 578.5 m in hole 22-1844E2. Hole 22-1844E2W2A cut 5.27 gpt over 22.6 m in the C-10 vein and 16.0 gpt over 6.1 m in the C-West Main vein. The 30,000 m, 54-hole infill program finished in February 2022, with assays received for 50 holes; drilling resumes in summer 2022.
Drill resultsCanagold Continues to Intersect High-Grade Gold Mineralization in C-West Main Vein Including 42.5 gpt Au over 2 m at New Polaris Project, BC
Drilling at the 100%-owned New Polaris gold project in northwestern British Columbia returned 42.5 gpt gold over 2.0 m from 466.1 m in hole 22-1665E1, including 69.7 gpt over 0.8 m, plus 19.3 gpt over 4.3 m in hole 21-1675E1A, 10.4 gpt over 5.8 m, 10.5 gpt over 4.9 m, 12.9 gpt over 3.6 m and 9.43 gpt over 1.7 m. All 47 holes of the 24,000 m infill program were completed by end-2021, with assays received for 43 holes; a further 6,000 m in 7 holes was drilled in January and February 2022.
Drill resultsCanagold Announces Additional High-Grade Gold Drill Intercepts from the C-10 and the C-West Main Veins at New Polaris Project, BC
Assay results from five more drill holes at the 100%-owned New Polaris gold project in northwestern British Columbia included 14.2 gpt gold over 2.9 m from 426.8 m and 5.99 gpt over 2.1 m from 633.6 m in hole 21-1875E3W1, 4.10 gpt over 12.5 m from 549.3 m in 21-1844E4, and 8.10 gpt over 1.5 m plus 8.37 gpt over 2.8 m in 21-1935E1. The intercepts expanded the interpreted C-10 vein model by 500%; four holes remain pending. Andrew Bowering resigned from the Board.
Drill resultsCanagold Drilling Intersects Deep Extension of C-West Main Vein, and Discovers New High-Grade Parallel C-Vein at New Polaris Project, BC
Drilling at the 100%-owned New Polaris project in northwestern British Columbia intersected a deep extension of the C-West Main vein and a previously undrilled parallel C-vein. Results include 17.6 gpt gold over 1.5 m from 379.1 m and 4.00 gpt over 3.1 m from 1,018.9 m in hole 21-2025E1; 13.9 gpt over 4.2 m from 333.1 m and 9.26 gpt over 3.6 m in 21-2025E1W1; and 6.04 gpt over 1.8 m from 767.7 m in 21-1783E4. All 47 holes of the 24,000 m infill program were completed by end-2021, with assays received for 32.
Drill resultsCanagold Continues to Intersect High-Grade Gold Mineralization in C-West Main Vein at New Polaris Project, BC
Six additional drill holes from the C-West Main vein system at the 100%-owned New Polaris gold project in northwestern British Columbia returned intercepts including 19.5 gpt gold over 3.7 m from 427.3 m in hole 21-1615E1A, 21.1 gpt over 2.2 m in 21-1700E2A, 22.8 gpt over 1.7 m in 21-1760E1, and 12.2 gpt over 1.8 m in 21-1635E1. All 47 holes of the 24,000 m infill program were completed by end-2021, with assays received for 28 holes; drilling continues through the winter.
Drill results