Canadian Gold Corp. Closes First Tranche of Financing

Canadian Gold Corp. (TSXV: CGC) has successfully closed the first tranche of its private placement offering, raising a total of $626,753. The Company issued 447,560 flow-through shares at a price of $0.205 per share and 3,821,450 units at a price of $0.14 per unit, with each unit consisting of one common share and one share purchase warrant. The warrants are exercisable at $0.215 for a period of 18 months.

The proceeds from the issuance of flow-through shares will be used to fund Canadian Gold Corp.'s exploration programs in Ontario and Quebec, while the funds raised from the issuance of units will be used to fund the Company's Phase 2 drill program at the Tartan Mine in Manitoba. The Phase 2 drill program aims to expand upon the Company's recent exploration drilling successes, including drill results of 23.8 gpt gold over 12.6 metres and 4.2 gpt gold over 53.7 metres, including 12.0 gpt gold over 8.0 metres.

Canadian Gold Corp. is a Toronto-based mineral exploration and development company focused on expanding the high-grade gold resource at the past producing Tartan Mine in Flin Flon, Manitoba. The Company holds a 100% interest in greenfields exploration properties in Ontario and Quebec, adjacent to some of Canada's largest gold mines and development projects.

The successful closing of the first tranche of financing is a testament to the Company's strong financial position and the confidence investors have in its exploration and development prospects. The funds raised will enable Canadian Gold Corp. to continue its exploration efforts and advance its projects towards production.

The Company's share price has remained relatively stable following the issuance of flow-through shares and units, indicating that investors view the financing as a positive step towards the Company's exploration and development goals. The market capitalization has also increased, reflecting the Company's growing potential and investor confidence in its prospects.



In conclusion, Canadian Gold Corp.'s successful closing of the first tranche of financing demonstrates the Company's strong financial position and the confidence investors have in its exploration and development prospects. The funds raised will enable the Company to continue its exploration efforts and advance its projects towards production, ultimately driving shareholder value.