Canagold Appoints Senior Vice President, Operations

Vancouver, B.C. – March 31, 2023 - Canagold Resources Ltd. (TSX: CCM, OTC-QB: CRCUF, Frankfurt: CANA) (“Canagold” or the “Company”) is pleased to announce the appointment of Mr. Colm Keogh as Senior Vice President, Operations.

Mr. Keogh is a Professional Mining Engineer with 30 years of experience in underground hard-rock mining across Canada and the United States, in Europe, Mexico, South America and Africa.  He has provided effective senior leadership in technical and operational roles supporting projects from feasibility studies, development, operations, through to closure.

As a principal mining consultant, Mr. Keogh has managed multidisciplinary study teams in mining projects across a wide range of international jurisdictions, and acted in the capacity of an independent engineer on numerous acquisitions and financings. Prior to his role at Canagold, he was employed by Barrick Gold, Billiton Metals, Inco Gold, Anglo American, AMC Mining Consultants, Shanoon Resources, and Eldorado Gold Corporation.

“As we progress New Polaris through feasibility and permitting, Canagold is thrilled that our shareholders and stakeholders will benefit from the depth and breadth of underground mining expertise that Colm brings to the Company,” said Catalin Kilofliski, CEO of Canagold.  “His unique experience directly complements our technically focused and socially driven management team as we move forward with Canada’s next high-grade gold mine, located within the traditional territory of the Taku River Tlingit First Nation in British Columbia.”

Correction Regarding Canagold EDGAR Filings

Due to a clerical oversight, Canagold filed its disclosure on EDGAR between August 3, 2022 and March 27, 2023 (“the period”) under the signatory of the previous CEO of the Company, who had resigned as of August 3, 2022. In order to resolve the error, the Company has refiled on EDGAR all filings for this period under the correct CEO name.

About Sun Valley

Sun Valley is a private equity firm focussed on the precious metals industry with portfolio companies and branch offices in the Americas, Europe and Asia. Sun Valley seeks to invest in sustainable development projects and operations with growth potential, low cash costs of production, or the operating flexibility to insulate against volatility in the commodity markets.

Disclaimer

The information contained or referenced herein is for information purposes only in order to provide the views of Sun Valley and the matters which Sun Valley believes to be of concern to shareholders described herein. The information is not tailored to specific investment objectives, the financial situations, suitability, or particular need of any specific person(s) who may receive the information, and should not be taken as advice in considering the merits of any investment decision. The views expressed herein represent the views and opinions of Sun Valley, whose opinions may change at any time and which are based on analyses of Sun Valley and its advisors.

Contacts

Sun Valley:

Daniel Henao

Partner / VP Business Development

Phone: 6042607046

Email: dhenao@sunvalleyinv.com