Dieppe, New Brunswick--(Newsfile Corp. - May 6, 2026) - Canadian Gold Resources Ltd. (TSXV: CAN) (the "Company") announces that Ron Goguen Sr. has stepped down from his role as President and Chief Executive Officer as part of a planned leadership transition. Mr. Goguen was a founder of Canadian Gold Resources and played a key role in establishing the Company and advancing its exploration strategy in the Gaspé Peninsula region of Québec. The Board of Directors wishes to extend the Company's sincere thanks to Mr. Goguen for his dedication in directing and managing the Company. Mr. Goguen will continue to provide guidance as the Chairman of the Board of Directors. The Board of Directors has appointed Kenneth Chernin as Interim President and Chief Executive Officer, effective immediately.

Ron Goguen, Chairman of the Board commented: "It has been a privilege to help found Canadian Gold Resources and work with a talented group of professionals in advancing the Company's projects. I believe the Company has built a strong foundation and I look forward to continuing to support the Company in my role as Chairman as the team works to unlock the potential of its assets in the Gaspé region."

Kenneth Chernin brings more than 20 years of experience in capital markets, including roles as a sell-side equity research analyst and senior executive in investor relations and corporate development, with much of his career focused on the mining industry. Since July 2025, Mr. Chernin has served as Vice President of Corporate Development for Canadian Gold Resources, where he has been involved in advancing the Company's corporate strategy and capital markets initiatives.

Ken Chernin, Interim President and CEO, commented:"Canadian Gold Resources has assembled a compelling land position in the Gaspé Peninsula, and we believe the Company is entering an exciting period with several important catalysts ahead. Our immediate focus is clear: advancing our ongoing exploration programs, strengthening corporate execution, and delivering results and milestones to shareholders in a disciplined and timely manner. I would also like to thank Ron for his leadership and contributions to the Company, and I look forward to continuing to benefit from his experience and guidance as Chairman."

The Company expects to provide additional updates on its exploration programs, including results from its drilling activities at Lac Arsenault, in the near term as results become available.

About Canadian Gold Resources Ltd.The Company is a junior exploration issuer advancing three high-grade gold properties totaling approximately 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.

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 54,868,876 common shares outstanding.

Forward-Looking Statements Disclaimer:This news release contains "forward-looking statements," including but not limited to statements regarding the Company's strategic objectives and anticipated growth. 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. The Company disclaims any obligation to update or revise any forward-looking information, except as required by applicable securities laws.

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