Manitoba Mineral Development Fund (MMDF) Approves New $300,000 Grant Targeted For Updated NI 43-101 Resource Est. & Prelim Economic Assessment (PEA) For The Tartan Mine

(MENAFN- Newsfile Corp) Toronto, Ontario--(Newsfile Corp. - April 9, 2025) - Canadian Gold Corp. (TSXV: CGC) (" Canadian Gold " or the " Company ") is pleased to announce that it has been approved for an additional $300,000 grant from the Manitoba Mineral Development Fund ("MMDF"). The proceeds from the grant will be used to update the Tartan Mine's NI 43-101 resource estimate, and to complete a Preliminary Economic Assessment ("PEA") for the possible restart of the mine. Both are expected to commence at the conclusion of the current Phase 4 exploration program, which is estimated to be completed by early summer. This grant, when combined with the Company's treasury and pending financing, will increase Canadian Gold's total capital to approximately $3.5 million.

"We want to express our gratitude to the Province of Manitoba and the Manitoba Mineral Development Fund for targeting these funds to further our efforts in advancing the potential restart of the Tartan Mine. An updated NI 43-101 and PEA are critical to quantifying and validating the economic potential of Tartan.

"I also want to thank the MMDF Board and the Government of Manitoba for the continued support and funding of the MMDF program. The MMDF program provides critical funding to many junior resource companies that often struggle to access the capital that is vital to the growth of the mining sector in Manitoba." - Michael Swistun, CFA, President & CEO.

Canadian Gold wishes to acknowledge the significant impact that the MMDF continues to have on mineral exploration and development in Manitoba. The continued support of MMDF and the Manitoba Mineral Exploration Tax Credit ("MMETC") make Manitoba a strong destination for mineral exploration. Manitobans may also avail themselves of the unique tax incentives when investing in eligible Manitoba mineral exploration projects, such as the Tartan Mine.

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