Led · Equity · Aug 2025

Canagold Resources is a gold exploration company focused on advancing the New Polaris gold‑antimony project in north‑west British Columbia. The company recently completed a private placement to fund continued exploration at New Polaris. It issued charity flow‑through shares and regular common shares, with proceeds from the flow‑through shares earmarked for Canadian exploration expenditures related to the project. Canagold closed approximately C$4.0m (~$2.8m) via the issuance of 9.7 million shares. A July feasibility study for New Polaris reported a robust economic case, including an after‑tax NPV of C$425m and IRR of 30.9% at US$2,500/oz, and an NPV of C$793m and IRR of 47.3% at US$3,300/oz. The study estimates initial capital expenditures of C$250m and forecasts production of 805,589 oz over an 8.3‑year mine life with an average diluted grade of 9.94 g/t.