Announces Private Placement of Convertible Promissory Notes

News Release

CANADIAN NORTH RESOURCES INC.

(Listed on the TSX Venture Exchange – Stock Symbol “CNRI”)

Announces Private Placement of Convertible Promissory Notes

Toronto, Ontario - August 2 6, 20 26 – Canadian North Resources Inc. (the “Corporat ion” or

“CNRI”) announces that it has authorized and approved the issuance of a series of promissory

notes designated as Series 1 Convertible Promissory Notes (each a “Note”) for up to an

aggregate principal amount of $2,000,000 to be repaid by the Corporation, together with interest

at the rate of 10% per annum by July 31, 2027 (the “Financing”). The principal amount of each

Note is convertible by the holder s into Common Shares of the Corporation at a conversion price

of $0.25 per Common Share, for an aggregate of up to 8,000,000 Common Shares of the

Corporation.

In that a director of the Corporation will be participating in the private placement, the private

placement is a “related party transaction” within the meaning of TSX Venture Exchange Policy

5.9 which has adopted Multilateral Instrument 61 -101 (“MI 61-101”), which in turn requires the

Corporation to obtain “minority approval” of the Corporation’s shareholders of the related party

transaction unless there is an exemption from such requirement. The Corporation is relying on

the exemption in Section 5.7(1)(a) of MI -61-101 on the basis that the fair market value of the

securities to be distributed to the related party will be less than 25% of the market capitalization

of the Corporation.

The proceeds of the Financing will be applied to working capital of the Corporation.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES

PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX

VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR

ACCURACY OF THIS RELEASE.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Kaihui Yang

President and Chief Executive Officer

Telephone: 905-565-5968 ext 260

Email: [email protected]