Canadian Gold Resources Ltd. Announces Receipt of Drill Permits for Maiden 36-Hole, 3,000-Metre Diamond Drill Program at Lac Arsenault
Canadian Gold Resources Ltd. Announces
Receipt of Drill Permits for Maiden 36-Hole,
3,000-Metre Diamond Drill Program at Lac
Arsenault
Dieppe, New Brunswick--(Newsfile Corp. - October 27, 2025) - Canadian Gold Resources Ltd. (TSXV:
CAN) ("Canadian Gold" or the "Company") is pleased to announce that it has received the required
permits to commence drilling at its 100%-owned Lac Arsenault Gold Project, located in the Gaspé
Peninsula, Québec. The maiden drill program, expected to commence on or around November 17,
2025, will consist of a minimum of 36 drill holes totaling approximately 3,000 metres.
The objectives of the program include:
Establishing a modern, NI 43-101-compliant database of assay and QA/QC results
to
validate and advance the historical resource model at the Baker Vien and Mersereau Vein.
Historical drilling outlined near-surface gold mineralization but pre-dates current reporting
standards. The new program will twin select holes and complete step-out drilling to confirm grades,
continuity, and data quality in support of a potential NI 43-101-compliant mineral resource
estimate.
Enhancing geological understanding of grade distribution and mineralized continuity
by
refining the structural and lithological controls on gold mineralization at the Baker Vien and
Mersereau Vein.
Drilling will test lateral and vertical extensions of mineralized zones, assess
alteration patterns, and strengthen the geological model to support future resource estimation and
targeting.
Testing the strike and vertical extent of known gold-bearing structures
using results from
the recent induced polarization (IP) survey and geophysics work to refine drill targeting. The data
will guide step-out and deeper drilling aimed at extending mineralization and identifying additional
zones along strike and at depth.
Management Commentary
"Our team is excited to advance the Lac Arsenault property through its first modern drill campaign," said
Ronald Goguen, President and CEO of Canadian Gold Resources Ltd. "This program represents an
important milestone in confirming historical mineralization and defining the broader exploration potential
of this high-grade, unexplored gold system."
Canadian Gold anticipates the potential to expand the program with additional metres and drill holes as
new targets are identified. These targets are being refined using data from an ongoing induced
polarization (IP) survey conducted in conjunction with existing aeromagnetic (Mag) data, designed to
highlight high-priority anomalies across the project area.
About the Lac Arsenault Project
The Lac Arsenault Property, located in Québec's Gaspé region, lies along the Grand Pabos Fault within
the Gaspé-Newfoundland tectonic belt. This structure shares geological characteristics with prolific gold-
bearing systems such as the Cadillac-Larder Lake Fault Zone in Abitibi and the Cape Ray-Valentine
Lake Shear Zone in Newfoundland. The property hosts several high-grade, epithermal-style vein
systems, including the Baker, Mersereau, and Dunning veins, with historical exploration outlining
significant gold-silver-base metal mineralization that provides a strong platform for the Company's
current work. Covering more than 3,600 hectares, Lac Arsenault is strategically located near tidewater at
New Richmond, Québec, offering excellent road, power, and rail infrastructure within one of Canada's
most established mining jurisdictions.
Historical Resource Estimate Disclosure (NI 43-101 2.4)
Stevenson, L. (1975):
40,000 tonnes grading 15.43 g/t Au and 197 g/t Ag (Esso Minerals
Canada).
Côté, R. (1996):
199,580 tonnes grading 9.59 g/t Au (~61,536 contained oz Au).
These historical estimates predate NI 43-101 and were based on sampling, trenching, and drilling using
manual polygonal methods. A Qualified Person has not completed sufficient work to classify the
estimates as current mineral resources or reserves. The Company is not treating them as current and
further verification is required.
These historical estimates pre-date the adoption of current CIM Definition Standards (2014) and
therefore cannot be directly compared to modern resource categories (i.e., "Inferred," "Indicated," or
"Measured"). The terminology and estimation methodologies used at the time are not compliant with
current CIM categories, and no classification equivalence is implied.
The Company considers these historical estimates to be relevant, as they demonstrate the presence of
significant gold and silver mineralization at shallow depths within the Baker and Mersereau vein systems,
which remain priority targets for verification and expansion. However, their reliability is uncertain
because the underlying data, methods, and QA/QC procedures are not adequately documented to
current standards. The Company is not treating the estimate as current.
To the Company's knowledge, there are no more recent mineral resource estimates available for the Lac
Arsenault Property that would supersede these historical figures.
To bring these into compliance, Canadian Gold plans to:
Conduct systematic drilling to confirm grades and geometry;
Complete verification sampling and density determinations;
Build a validated geological model with modern QA/QC protocols;
Commission an independent NI 43-101 compliant resource estimate.
Qualified Person Statement:
The scientific and technical information in this news release has been reviewed and approved by Mark
Smethurst, P.Geo., Director of Canadian Gold and 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.
+1 (506) 857-4090
Investor Relations
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 36,667,221
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.
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