Canadian Gold Corp. Edward Huebert Appointed President and CEO

Further Strengthening the Company's Presence in Manitoba, Government Relations and Mine Permitting Expertise as the Company Expands its High-Grade Gold Resources at the Tartan Mine

Toronto, Oct. 18, 2023 - Canadian Gold Corp. (TSXV: CGC) ("Canadian Gold" or the "Company") is pleased to announce, with the endorsement of Rob McEwen (the Company's largest shareholder - 37.6% of the outstanding common shares), the appointment of Edward (Ed) Huebert, as President, Chief Executive Officer, and director. Ed will be replacing Ian Ball, who was serving as Interim President and CEO.

Ed is currently Special Advisor on Mining to the Cabinet Secretary on Economic Development for Manitoba, where he developed many of the province's incentive programs, including the Mines Tax Holiday and Manitoba Exploration Tax Credit. He also served as acting mine manager for the Snap Lake Mine and environmental manager for De Beers' Northwest Territories projects. Other notable positions held during his impressive career include Yukon's Deputy Minister of Environment and Executive Vice President for the Mining Association of Manitoba. He has earned a Masters of Natural Resources Management Degree from the University of Manitoba and is a Ph.D. candidate, in Natural Resource Planning from the University of British Columbia.

Canadian Gold Corp. Chairman Peter Shippen said, "Edward is a business leader with an excellent record, and joins the Company at a key time as our recent exploration success and engineering advancements continue to demonstrate the potential for reopening the Tartan Mine. Edward brings a tremendous skill set to the Company, from mine and exploration permitting, to government relations and mine operations. In an industry experiencing skills shortages, we have made excellent progress strengthening our operational team. I also want to personally thank Ian Ball, who was serving as Interim President and CEO since late April. Ian has agreed to devote whatever time is required to ensure a smooth transition as Ed begins his new role, particularly with regards to our current Phase 2 drilling program at the Tartan Mine and engineering studies."

Rob McEwen, the Company's largest shareholder also stated, "Having personally met several of the candidates, I was immediately impressed by Ed's understanding of mining in Manitoba, the potential of the Tartan Mine, and what is needed to realize that value for our investors. I believe the board of directors has made an informed choice that should benefit Company greatly."


About Canadian Gold Corp.

Canadian Gold Corp. is a Toronto-based mineral exploration and development company whose objective is to expand the high-grade gold resource at the past producing Tartan Mine, located 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, specifically, the Canadian Malartic Mine (QC), the Hemlo Mine (ON) and Hammond Reef Project (ON). The Company is 37.6% owned by Robert McEwen, who was the founder and CEO of Goldcorp and is Chairman and CEO of McEwen Mining.



For Further Information, Please Contact:

Peter Shippen, Chairman
Canadian Gold Corp.
416-930-7711
info@canadiangoldcorp.com



CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release of Company contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Canadian Gold's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.