Canagold Files Initial Project Description and Begins Environmental Assessment and Permitting Process for Flagship New Polaris Project

Vancouver, B.C. – March 29, 2023 - Canagold Resources Ltd. (TSX: CCM, OTC-QB: CRCUF, Frankfurt: CANA) (“Canagold” or the “Company”) is pleased to report its Initial Project Description (IPD) and Engagement Plan submission to the B.C. Environmental Assessment Office on behalf of the New Polaris Project (“Project”), located in northwest British Columbia, Canada.

The Company’s IPD submission formally initiates the Early Engagement phase of the provincial assessment process. The IPD provides an overview and detailed description of the Company’s plans to develop, operate, and eventually decommission the New Polaris Gold Project.

Canagold greatly appreciates the cooperation and input from the Taku River Tlingit First Nation (TRTFN), on whose traditional territory the Project is located.

“We are very excited about our submission of the IPD, as it marks the official commencement of the Environmental Assessment permitting process, following extensive preparations and environmental baseline studies that have been conducted on New Polaris over the years,” said Catalin Kilofliski, CEO of Canagold. “This is an important milestone in the Company’s ambitious plan to permit, build and operate a sustainable mining operation in partnership with TRTFN.”

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