- Canagold Resources Ltd. announced **positive results from antimony (Sb) flotation testing** for its New Polaris gold-antimony project, yielding an **Sb-Au concentrate assaying 59.1% Sb and 98.3 gpt Au** with **93.1% Sb recovery** and **91.8% Au recovery**.  **[868822_0001062993-25-015868_exhibit99-1.htm:0]** 
- The Feasibility Study (FS) completed in July 2025 for the New Polaris project **did not account for any revenue from antimony**, but these new results highlight the potential for **significant additional value**.  **[868822_0001062993-25-015868_exhibit99-1.htm:0]** 
- The company plans to conduct further metallurgical test work and economic assessments to evaluate including antimony revenue in the project's financial model.  **[868822_0001062993-25-015868_exhibit99-1.htm:0]** 
- The project's Indicated Mineral Resource Estimate (MRE) dated April 2, 2025, includes **5,630 tonnes of Sb grading 0.6%**, and the FS mine plans include **5,173 tonnes Sb**.  **[868822_0001062993-25-015868_exhibit99-1.htm:0]**

Canagold Resources Announces Positive Antimony Concentrate Production Results

- Canagold Resources Ltd. has filed the Technical Report for the Feasibility Study of its **100% owned New Polaris gold-antimony project**.  **[868822_1f7dd8ad01d040f3b2cf494adca2c747_0]** 
- The study projects an after-tax net present value (NPV) of **$425 million** with an internal rate of return (IRR) of **30.9%** at a US$2500 base case Gold Price, and an NPV of **$793 million** with an IRR of **47.3%** at a US$3300 spot Gold Price.  **[868822_1f7dd8ad01d040f3b2cf494adca2c747_0]** 
- The estimated pre-production capital expenditures (CAPEX) for the project are **$250 million**.  **[868822_1f7dd8ad01d040f3b2cf494adca2c747_0]** 
- The project is anticipated to generate life of mine (LOM) after-tax free cash flow of **$649 million** at the base case Gold Price and **$1.1 billion** at the spot Gold Price, with an all-in sustaining cost (AISC) of **US$1247/oz** per payable gold.  **[868822_1f7dd8ad01d040f3b2cf494adca2c747_0]**

Canagold Resources (CRCUF)