Base Metals

Canadian North Resources Inc. Drills 21.0 meter at 1.11% Copper, 0.71% Nickel, 0.10% Cobalt, 1.29g/t Palladium, 0.15g/t Platinum and 0.05 g/t Rhodium  and Potentially Extends Near-Surface Nickel and Copper Sulfide Zones for 1,500 Meters Along Strike at its Ferguson Lake Project

Canadian North Resources Inc. Drills 21.0 meter at 1.11% Copper, 0.71% Nickel, 0.10% Cobalt, 1.29g/t Palladium, 0.15g/t Platinum and 0.05 g/t Rhodium and Potentially Extends Near-Surface Nickel and Copper Sulfide Zones for 1,500 Meters Along Strike at its Ferguson Lake Project

Canadian North Resources Inc. ("the Company", TSXV: CNRI; FSE:EO0 (E-O-zero)) is pleased to report the geochemical assay results for the remaining 40 holes (of total 68 holes drilled) totalling 10,550 meters (of the 18,144 metres) for the diamond drilling program completed by the Company at its 100% owned Ferguson Lake property ("Ferguson Lake Project") that contains base metals (nickel, copper, and cobalt) and platinum-group metals ("PGM", mainly palladium and platinum).

Highlights of new assay results:

  • 21.0m at 1.11% Cu, 0.71% Ni, 0.10% Co, 1.29g/t Pd, 0.15g/t Pt and 0.050 g/t Rh (hole FL22-470 at 13.0 - 34.0m);
  • 9.90m at 0.96% Cu, 0.58% Ni, 0.09% Co, 1.03g/t Pd, 0.17g/t Pt, 0.01g/t Rh and 0.03g/t Au (hole FL22-471 at 47.50 - 57.40m);
  • 16.7m at 0.48% Cu, 0.30% Ni, 0.04% Co, 0.55g/t Pd and 0.12g/t Pt (hole FL22-469 at 200.8-217.5m);
  • 7.30m at 0.83% Cu, 0.76% Ni, 0.09% Co, 1.31g/t Pd, 0.19g/t Pt, 0.047g/t Rh and 0.028 g/t Au (hole FL22-478 at 39.60 - 46.90m);
  • 7.60m at 0.93% Cu, 0.26% Ni, 0.04% Co, 0.74g/t Pd and 0.14g/t Pt (hole FL22-481A at 634.8 - 642.4m);
  • 8.43m at 0.64% Cu, 0.30%Ni, 0.04% Co, 0.50g/t Pd, 0.14g/t and 0.06g/t Rh (hole FL22-486 at 122.87 - 131.30m);
  • 9.90m at 0.34%Cu, 0.14%Ni, 0.02%Co, 0.33g/t Pd, 0.03g/t Pt, 0.03g/t Rh and 0.20g/t Au (hole FL22-490 at 28.1-38.0m) and 20.3m at 0.36% Cu, 0.24%Ni, 0.03% Co, 0.55g/t Pd, 0.08g/t Pt, 0.02g/t Rh and 0.02g/t Au (at 43.40 - 63.70m);
  • 8.50m at 0.80% Cu, 0.63%Ni, 0.08% Co, 1.63g/t Pd, 0.23g/t Pt and 0.01 g/t Rh (hole FL22-492 at 231.0 - 239.5m);
  • 6.00m at 0.89%Cu, 0.44%Ni, 0.05% Co, 1.16g/t Pd, 0.26g/t Pt, 0.01g/t Rh and 0.10g/t Au (hole FL22-487 at 60.7 - 66.7m);
  • 9.80m at 0.34%Cu; 0.40%Ni, 0.04%Co, 0.66g/t Pd and 0.26g/t Pt, including 3.50m at 0.86% Cu, 1.07% Ni, 0.12%Co, 1.64 g/t Pd, 0.19%Pt, 0.042g/t Rh and 0.02g/t Au (Hole FL22-463 at 191.67 - 201.47m);
  • 22.0m at 0.44% Cu, 0.30%Ni, 0.04% Co, 0.57g/t Pd, 0.09g/t Pt and 0.03g/t Rh, including 5.80m at 1.15% Cu, 0.73%Ni, 0.09% Co, 1.37g/t Pd, 0.23g/t Pt, 0.079g/t Rh, and 0.045g/t Au (hole FL22-494 at 28.0 - 50.0m).
  • Of the 68 holes drilled, 27 infill holes confirm the continuity of the known mineralized zones for resource upgrade; and
  • 37 expansion holes extend the main mineralized horizon near-surface along strike of the East Zone and the West Zone for a total of up to 1,500 metres along strike outside the block model of the mineral resource estimate (Refer to "Independent Technical Report, Updated Mineral Resource Estimate, Ferguson Lake Project, Nunavut, Canada, June 13, 2022, Prepared by Elisabeth Ronacher and Jamie Lavigne." filed by the Company to Sedar.com) ; and
  • 4 holes testing outside the main mineralized horizon demonstrate the mineral potential of the sub-parallel trending Anomaly 51 and M zones located to the southeast of the East Zone.
  • In terms of expansion potential, particularly exciting are the latest results from step-out hole FL22-486 which tested the defined continuous airborne VTEM conductor 800 metres east of the nearest furthest east historic intersection in the East Zone.
  • In summary, these new assays report high assays of up to 10.0% copper, 1.81%nickel, 8.65g/t palladium, 4.43 g/t platinum, 0.186 g/t rhodium, and 2.19 g/t gold, and 49 g/t silver.

"We are excited with the additional drilling results that have confirmed the extensions of the mineralized zones outside the recent resource model (Refer to "Independent Technical Report, Updated Mineral Resource Estimate, Ferguson Lake Project, Nunavut, Canada, June 13, 2022, Prepared by Elisabeth Ronacher and Jamie Lavigne." filed by the Company to Sedar.com)" Said Dr. Kaihui Yang, the President and CEO of the Company, "The drilling results to date will expand the block model and significantly enlarge the high-grade and near-surface mineral resources for the potential mine development of the Ferguson Lake Project."

"The drilling programs completed to date indicate the potential for further resource expansion at Ferguson Lake." Said Dr. Trevor Boyd, the Vice President for Exploration of the Company, "The results have confirmed the continuity of the mineralized zones and expanded the near-surface mineralized zones along the strike and down dip. These results justify more aggressive drilling programs and engineering work for the Ferguson Lake project in 2023 and beyond."

A total of 18,144 meters have been drilled in 68 holes to infill or step out from the historic holes that were previously drilled in the West Zone and the East Zone. The mineralized horizon hosting significant metal grades and widths (>2.5 meters) has been intersected in 62 out of the 68 holes. All the holes hit the mineralized zones as expected, confirming that the mineralized zones extend along strike and at depth beyond the presently defined resource boundaries for a total potential extension of the zones of approximately 1,500 metres. The new assay results are summarized in Table 1. These, together with the assay results released earlier (refer to the news release on September 12, 2022), will be added to the dataset to improve the block model and to update the Mineral Resource estimate that was announced on June 13, 2022 (Refer to "Independent Technical Report, Updated Mineral Resource Estimate, Ferguson Lake Project, Nunavut, Canada, June 13, 2022, Prepared by Elisabeth Ronacher and Jamie Lavigne." filed by the Company to Sedar.com).

West Zone (Figure 1):

In the West Zone, a total of 38 holes were drilled with 15 infilled holes and 23 expansion holes each stepping out 50-100 meters from the previous holes and confirmed the northward down-dip extension of main West and West Extension mineralized zones for 100-200 meters from the recently updated resource model (Refer to "Independent Technical Report, Updated Mineral Resource Estimate, Ferguson Lake Project, Nunavut, Canada, June 13, 2022, Prepared by Elisabeth Ronacher and Jamie Lavigne." filed by the Company to Sedar.com) and its near-surface strike extension to the east and west of the West Zone for a total potential extension of approximately 800 metres.

The assay results for those drill holes confirmed the near-surface base metal and PGM massive sulfide zones and the underlying and widening PGM-enriched low sulfide zones. The near-surface sulfide zones are massive sulfide, semi-massive sulfide and disseminated sulfide zone, with variable intersections (up to 31 m) and grades (up to 10.0% copper, 1.81% nickel, 0.40% cobalt, 2.45g/t palladium, 0.50 g/t platinum, 0.186 g/t rhodium, and 2.19 g/t gold, and 49 g/t silver). Gold, silver and rhodium are intermittently enriched along the mineralization zones in the vicinity of ultramafic rocks.

The underlain PGM-enriched low-sulfide mineralization is wide with variable intersections (up to 36m) and grades of PGM (up to 8.65g/t palladium, 4.43 g/t platinum). Copper and nickel are low in general for this type of mineralization but enriched in multiple thin layers (usually

Ferguson Lake Project – West Zone: infill and expansion drill holes completed by the Company.

Figure 1: Ferguson Lake Project – West Zone: infill and expansion drill holes completed by the Company.

East Zone (Figure 2):

In detail, 4,675 metres in 26 holes were drilled in the East Zone, with 12 infilled holes and 14 expansion holes along the near surface mineralization that has been historically drilled since the 1950s. The expansion holes were stepped out by 50 to 100 meters each from previous holes and confirmed the strike extension of the mineralization to the west and east of the East Zone for approximately 700 metres. In particular, two drill holes (FL22-486 and 486A) confirmed a new eastern extension of the mineralized zone along the strike about 800 meters from the previous hole (Inco hole 9452). In addition, four holes successfully tested adjacent near-surface satellite mineralized horizons (M-Zone and A51 Zone) to the southeast of the East Zone with encouraging results.

The additional assay results for the drill holes confirmed the near-surface massive, semi-massive and disseminated base metal and PGM sulfide zones, with variable intersections (up to 21 m) and grades (up to 4.01% copper, 1.07% nickel, 0.20% cobalt, 2.73g/t palladium, 1.38g/t platinum, 0.10g/t rhodium, 0.25g/t gold, 12g/t silver). The PGM-enriched low sulfide mineralization was also found with variable intersections (up to 11 m in hole FL22-475) and grades (1-2.0 g/t palladium and platinum) beneath the near-surface massive sulfide zone, although all the drill holes were drilled shallow (

Ferguson Lake Project – East Zone: infill and expansion drill holes completed by the Company.

Figure 2 Ferguson Lake Project – East Zone: infill and expansion drill holes completed by the Company.


Table 1 Selected significant intersections for the drill holes (previously unreleased) at Ferguson Lake

Hole From To Width (m) Cu% Ni% Co% Pd g/t Pt g/t Rh g/t Au g/t
FL22-461 111.50 115.50 4.00 0.08 0.09 0.03 0.35 0.13
Including 114.50 115.50 1.00 0.14 0.28 0.12 1.06 0.27 0.003 0.011
182.90 186.50 3.60 0.53 0.14 0.02 0.28 0.06
Including 182.92 183.76 0.84 1.81 0.47 0.06 0.90 0.08 0.026 0.031
197.00 203.00 6.00 0.02 0.03 0.01 0.34 0.26
FL22-462 93.50 96.25 2.75 0.46 0.12 0.03 0.33 0.08
Including 95.33 95.70 0.37 0.64 0.57 0.16 1.48 0.21 0.022 0.008
145.30 145.75 0.45 1.27 0.88 0.13 1.63 0.18 0.057 0.011
209.00 213.50 4.50 0.02 0.05 0.01 0.45 0.10
218.40 221.00 2.60 0.13 0.09 0.02 0.87 0.31
Including 219.40 221.00 1.60 0.19 0.09 0.02 1.08 0.42 0.005 0.001
FL22-463 138.00 138.50 0.50 0.52 0.19 0.06 0.29 0.13 0.020 0.001
191.67 201.47 9.80 0.34 0.40 0.04 0.66 0.26
Including 191.67 195.17 3.50 0.86 1.07 0.12 1.64 0.19 0.042 0.020
Including 193.67 195.17 1.50 1.11 0.96 0.10 1.57 0.16 0.033 0.023
215.00 217.00 2.00 0.31 0.15 0.04 0.31 0.08 0.005 0.001
248.00 260.00 12.00 0.00 0.03 0.00 0.34 0.93
Including 248.00 249.50 1.50 0.00 0.03 0.01 0.16 4.43 0.001 0.001
267.50 269.00 1.50 0.01 0.03 0.01 0.73 0.25 0.001 0.001
FL22-464 207.00 214.30 7.30 0.46 0.44 0.05 0.64 0.15 0.010
Including 208.36 210.23 1.87 0.33 1.11 0.12 1.17 0.22 0.023 0.005
FL22-465 154.85 155.00 0.15 0.41 1.20 0.05 1.18 0.07 0.005 0.021
195.80 199.80 4.00 0.31 0.15 0.02 0.33 0.08
Including 195.80 195.97 0.17 0.06 1.15 0.12 1.09 0.36 0.006 0.011
Including 199.44 199.85 0.41 1.44 0.08 0.02 0.33 0.04 0.003 0.026
238.50 249.00 10.50 0.01 0.03 0.00 0.44 0.12
Including 247.50 249.00 1.50 0.00 0.04 0.01 1.75 0.03 0.002 0.001
255.00 261.00 6.00 0.01 0.03 0.00 0.45 0.19
419.80 432.40 12.60 0.02 0.06 0.01 0.48 0.17
Including 419.77 420.22 0.45 0.10 0.56 0.07 2.41 0.03 0.002 0.002
Including 432.00 432.40 0.40 0.19 0.04 0.01 8.19 0.50 0.001 0.015
FL22-466 195.50 203.00 7.50 0.13 0.05 0.01 0.35 0.10
Including 196.06 196.30 0.24 2.00 0.34 0.03 0.83 0.14 0.010 0.031
219.00 221.00 2.00 0.02 0.03 0.01 2.65 0.85
Including 220.00 220.60 0.60 0.06 0.03 0.01 8.65 2.76 0.001 0.004
237.50 239.50 2.00 0.02 0.07 0.01 0.40 0.63
253.00 257.00 4.00 0.01 0.04 0.01 0.85 0.43
Including 254.00 255.00 1.00 0.01 0.04 0.01 1.84 1.32 0.001 0.005
FL22-467 162.00 162.30 0.30 0.41 0.66 0.09 0.99 0.26 0.038 0.039
203.80 209.00 5.20 0.19 0.10 0.02 0.51 1.04
Including 203.77 204.02 0.25 2.27 0.10 0.01 0.52 0.17 0.004 0.406
Including 207.50 209.00 1.50 0.01 0.03 0.00 0.87 3.09 0.001 0.001
254.00 264.00 10.00 0.01 0.04 0.01 1.19 0.20
Including 257.00 258.50 1.50 0.02 0.04 0.01 4.44 0.84 0.001 0.006
FL22-468 211.00 212.00 1.00 1.30 0.14 0.02 0.24 0.03 0.001 0.032
242.80 252.60 9.80 0.90 0.11 0.03 0.34 0.03
Including 242.78 244.00 1.22 0.97 0.28 0.15 0.48 0.12 0.009 0.051
Including 252.00 252.63 0.63 10.00 0.27 0.04 2.25 0.16 0.001 0.292
282.00 291.00 9.00 0.04 0.06 0.01 0.71 0.28
Including 282.00 283.00 1.00 0.03 0.08 0.01 2.06 0.87 0.003 0.003
FL22-469 177.00 178.00 1.00 0.11 0.29 0.06 0.53 0.09 0.003 0.013
185.15 188.80 3.65 0.47 0.70 0.07 0.96 0.17 0.030
Including 185.15 187.30 2.15 0.69 1.17 0.12 1.57 0.26 0.053 0.025
200.80 217.50 16.70 0.48 0.30 0.04 0.55 0.12
Including 204.00 205.50 1.50 1.02 1.17 0.13 2.16 0.14 0.009 0.022
Including 214.60 216.00 1.40 1.18 1.12 0.13 1.81 0.18 0.019 0.034
253.00 254.00 1.00 0.27 0.16 0.02 0.72 0.13 0.002 0.002
263.00 266.00 3.00 0.00 0.03 0.01 0.57 1.08 0.004 0.001
FL22-470 13.00 34.00 21.00 1.11 0.71 0.10 1.29 0.15 0.050
Including 13.00 13.50 0.50 5.41 0.27 0.40 1.63 0.36 0.059 0.101
Including 17.50 19.50 2.00 0.75 1.04 0.13 1.69 0.01 0.096 0.015
Including 22.50 24.50 2.00 2.60 0.63 0.08 1.33 0.10 0.065 0.027
48.00 52.00 4.00 0.36 0.15 0.02 0.31 0.06
FL22-471 44.00 45.10 1.10 0.44 0.42 0.05 0.71 0.06 0.022 0.014
47.50 57.40 9.90 0.96 0.58 0.09 1.03 0.17 0.010 0.030
Including 52.00 53.00 1.00 2.85 0.74 0.20 1.45 0.15 0.056 0.078
Including 55.00 56.00 1.00 1.36 0.80 0.09 1.51 0.11 0.006 0.029
FL22-472 83.40 87.00 3.60 0.27 0.32 0.04 0.62 0.13
Including 83.40 84.90 1.50 0.45 0.73 0.08 1.37 0.14 0.043 0.006
93.50 102.50 9.00 0.17 0.05 0.01 0.85 0.24
Including 98.00 99.50 1.50 0.86 0.13 0.03 0.52 0.45 0.017 0.023
110.00 113.00 3.00 0.41 0.33 0.03 0.68 0.07
111.50 113.00 1.50 0.52 0.57 0.05 1.18 0.10 0.036 0.002
FL22-473 107.60 110.50 2.90 0.45 0.24 0.04 0.54 0.11
Including 108.80 109.30 0.50 0.18 0.86 0.09 1.45 0.31 0.056 0.007
151.15 154.45 3.30 0.02 0.02 0.01 0.48 0.29
FL22-474 183.50 186.50 3.00 0.04 0.04 0.01 0.79 0.09
207.50 210.50 3.00 0.01 0.03 0.01 0.59 0.18
FL22-475 64.10 65.05 0.95 0.75 0.36 0.06 0.68 0.06 0.018 0.020
114.50 125.50 11.00 0.02 0.08 0.01 0.23 0.30
Including 114.50 116.00 1.50 0.01 0.03 0.01 0.23 1.55 0.003 0.001
Including 124.90 125.50 0.60 0.18 1.05 0.09 1.72 0.25 0.090 0.009
FL22-476 57.70 74.20 16.50 0.33 0.18 0.02 0.58 0.44
Including 57.70 58.26 0.56 0.36 0.53 0.06 1.06 0.12 0.029 0.014
Including 61.75 62.25 0.50 0.36 0.43 0.05 1.13 0.24 0.036 0.009
Including 64.05 65.00 0.95 0.57 0.06 0.02 2.73 1.38 0.002 0.021
Including 65.70 66.41 0.71 0.18 0.56 0.06 1.24 0.26 0.032 0.013
Including 68.00 68.32 0.32 4.01 0.70 0.08 1.66 0.38 0.037 0.246
Including 68.90 69.06 0.16 0.10 1.07 0.11 1.45 0.05 0.011 0.009
Including 72.48 72.98 0.50 0.19 0.86 0.07 1.11 0.23 0.010 0.007
Including 73.67 74.18 0.51 0.47 0.40 0.06 0.71 0.08 0.015 0.016
FL22-477 32.70 48.50 15.80 0.15 0.18 0.03 0.34 0.07
Including 32.70 33.56 0.86 0.37 0.57 0.11 0.93 0.12 0.045 0.015
Including 40.30 41.25 0.95 0.67 0.94 0.11 1.51 0.17 0.009 0.010
Including 44.10 44.28 0.18 0.06 0.96 0.08 1.30 0.04 0.001 0.008
Including 47.57 48.50 0.93 0.41 0.55 0.08 1.02 0.23 0.005 0.019
114.20 115.40 1.20 0.76 0.05 0.01 0.03 0.00 0.001 0.101
130.38 131.10 0.72 0.08 0.29 0.05 0.52 0.00 0.001 0.020
FL22-478 39.60 46.90 7.30 0.83 0.76 0.09 1.31 0.19 0.047 0.028
Including 39.60 44.00 4.40 1.05 0.98 0.12 1.66 0.24 0.064 0.031
Including 41.80 42.80 1.00 2.13 0.89 0.11 1.64 0.37 0.066 0.042
Including 44.27 44.58 0.31 0.48 0.97 0.12 1.85 0.33 0.067 0.029
Including 45.53 46.27 0.74 0.37 0.90 0.11 1.58 0.22 0.041 0.025
Including 46.27 46.90 0.63 1.25 0.24 0.03 0.45 0.03 0.014 0.042
54.20 58.10 3.90 0.65 0.25 0.04 0.46 0.07 0.020
Including 57.76 58.11 0.35 0.26 0.77 0.07 0.84 0.08 0.059 0.018
63.50 68.91 5.40 0.26 0.17 0.02 0.30 0.03
Including 67.15 67.70 0.55 0.58 0.93 0.10 1.33 0.05 0.050 0.014
FL22-479 50.15 53.85 3.70 0.36 0.18 0.02 0.28 0.04
Including 50.15 50.44 0.29 0.18 0.87 0.10 1.39 0.11 0.008 0.015
Including 51.10 52.66 1.56 0.77 0.08 0.01 0.16 0.05 0.006 0.040
Including 53.50 53.85 0.35 0.06 0.52 0.05 0.55 0.05 0.026 0.010
115.50 118.00 2.50 0.41 0.19 0.04 0.47 0.12
Including 116.40 116.95 0.55 1.01 0.65 0.13 1.34 0.21 0.074 0.006
FL22-480 24.50 25.50 1.00 0.20 0.19 0.03 0.51 0.26 0.015 0.013
32.00 33.50 1.50 0.48 0.08 0.04 0.25 0.40 0.002 0.014
39.50 41.00 1.50 0.58 0.07 0.01 0.17 0.04 0.008 0.023
49.50 51.70 2.20 0.46 0.45 0.04 1.02 0.14
Including 49.46 49.78 0.32 0.30 0.64 0.06 2.23 0.28 0.049 0.024
Including 50.37 50.88 0.51 0.37 0.68 0.06 1.17 0.09 0.017 0.011
Including 51.18 51.70 0.52 0.29 0.79 0.08 1.43 0.28 0.012 0.010
FL22-481A 634.80 642.40 7.60 0.93 0.26 0.04 0.74 0.14
Including 634.80 635.77 0.97 3.39 0.84 0.10 1.96 0.26 0.109 0.070
Including 641.00 642.42 1.42 2.43 0.71 0.12 1.88 0.18 0.044 0.058
750.00 755.00 5.00 0.07 0.14 0.02 0.63 0.07
Including 750.00 750.50 0.50 0.13 0.18 0.03 1.23 0.26 0.004 0.009
Including 754.12 755.00 0.88 0.30 0.57 0.06 2.57 0.23 0.012 0.011
792.00 803.00 11.00 0.03 0.05 0.01 0.48 0.11
Including 792.00 793.00 1.00 0.02 0.06 0.01 1.01 0.04 0.006 0.011
Including 802.00 803.00 1.00 0.05 0.07 0.01 1.13 0.20 0.002 0.001
FL22-483 66.50 69.50 3.00 0.01 0.03 0.01 0.46 0.24
82.50 83.60 1.10 0.40 0.27 0.04 0.55 0.09
Including 83.30 83.60 0.30 0.52 0.89 0.12 1.57 0.10 0.005 0.016
FL22-484 38.03 45.03 7.00 0.42 0.23 0.03 0.40 0.08
Including 40.70 41.20 0.50 2.36 0.12 0.02 0.51 0.06 0.035 0.023
Including 43.93 45.03 1.10 0.37 0.80 0.10 1.30 0.20 0.032 0.005
FL22-484A 39.67 41.77 2.10 0.45 0.75 0.09 1.29 0.07
Including 39.67 40.52 0.85 0.41 1.08 0.13 1.73 0.06 0.151 0.007
Including 40.52 41.28 0.76 0.69 0.78 0.09 1.58 0.11 0.122 0.018
113.28 114.02 0.74 1.24 0.05 0.01 0.05 0.01 0.001 0.019
FL22-485 26.00 29.40 3.40 0.13 0.20 0.02 0.42 0.07 0.040
Including 26.80 27.30 0.50 0.29 0.89 0.07 1.34 0.24 0.135 0.005
FL22-486 122.87 131.30 8.43 0.64 0.30 0.04 0.50 0.14 0.060
Including 122.87 123.20 0.33 0.51 0.58 0.04 1.08 0.16 0.101 0.009
Including 125.40 125.80 0.40 0.36 0.86 0.11 1.21 0.13 0.146 0.025
Including 126.76 127.45 0.69 0.19 1.12 0.13 1.43 0.07 0.177 0.001
Including 127.45 128.59 1.14 1.78 0.47 0.06 0.84 0.50 0.090 0.028
Including 130.40 131.30 0.90 1.71 0.20 0.03 0.51 0.32 0.052 0.059
135.54 140.54 5.00 0.28 0.27 0.05 0.55 0.06 0.050
Including 135.85 136.53 0.68 0.19 1.07 0.12 1.85 0.08 0.184 0.006
Including 140.10 140.54 0.44 0.07 0.39 0.04 0.99 0.10 0.001 0.005
FL22-486A 119.55 120.00 0.45 0.20 0.27 0.09 0.47 0.11 0.004 0.008
121.80 125.00 3.20 0.26 0.31 0.04 0.58 0.07 0.070
Including 121.77 122.09 0.32 0.27 0.96 0.10 1.21 0.18 0.117 0.009
Including 122.63 122.88 0.25 0.31 0.79 0.09 2.11 0.23 0.097 0.015
136.70 139.20 2.50 0.33 0.27 0.04 0.46 0.09 0.010
Including 136.75 137.72 0.97 0.29 0.56 0.07 0.88 0.12 0.001 0.008
Including 138.98 139.18 0.20 2.12 0.23 0.10 0.84 0.33 0.001 0.050
192.50 195.10 2.60 0.25 0.04 0.01 0.16 0.04 0.001 0.104
FL22-487 47.90 54.90 7.00 0.30 0.13 0.02 0.44 0.10
including 47.86 48.77 0.91 1.37 0.44 0.05 1.20 0.17 0.037 0.062
including 49.30 49.70 0.40 0.13 0.46 0.05 1.15 0.45 0.022 0.008
including 52.20 53.15 0.95 1.51 0.22 0.08 0.70 0.14 0.005 0.081
60.70 66.70 6.00 0.89 0.44 0.05 1.16 0.26 0.010 0.100
including 60.68 61.83 1.15 1.15 0.27 0.04 0.73 0.16 0.017 0.267
including 63.02 66.70 3.68 1.00 0.63 0.07 1.64 0.38 0.006 0.076
FL22-488 76.05 76.60 0.55 0.29 0.93 0.10 1.31 0.17 0.087 0.007
82.50 90.20 7.70 0.30 0.13 0.02 0.34 0.10
Including 89.44 90.23 0.79 0.29 0.50 0.06 1.12 0.26 0.001 0.013
95.40 95.55 0.15 0.28 0.52 0.03 0.89 0.18 0.002 0.014
FL22-489 37.60 46.70 9.10 0.28 0.24 0.03 0.45 0.07 0.030 0.060
Including 37.60 38.94 1.34 0.13 0.03 0.01 0.05 0.01 0.001 0.399
Including 41.45 42.35 0.90 0.26 0.76 0.09 1.54 0.18 0.085 0.017
Including 43.13 44.00 0.87 0.51 0.64 0.09 0.50 0.11 0.075 0.021
Including 44.46 45.10 0.64 0.41 0.58 0.07 1.22 0.16 0.049 0.037
FL22-490 28.10 38.00 9.90 0.34 0.14 0.02 0.33 0.03 0.030 0.200
Including 28.48 29.00 0.52 1.04 0.20 0.05 0.67 0.05 0.045 0.214
Including 30.98 31.70 0.72 1.22 0.07 0.01 0.32 0.02 0.012 0.343
43.40 63.70 20.30 0.36 0.24 0.03 0.55 0.08 0.020 0.020
Including 51.89 52.64 0.75 0.39 0.98 0.11 1.78 0.18 0.050 0.011
Including 53.24 53.59 0.35 0.10 1.00 0.11 2.47 0.11 0.056 0.007
Including 63.15 63.66 0.51 0.58 0.71 0.08 1.57 0.18 0.003 0.025
FL22-491 222.90 226.20 3.30 0.66 0.23 0.04 0.63 0.10
Including 222.90 224.40 1.50 1.24 0.26 0.04 0.96 0.16 0.021 0.053
FL22-492 41.00 42.00 1.00 0.44 0.01 0.01 0.01 0.01 0.001 0.128
231.00 239.50 8.50 0.80 0.63 0.08 1.63 0.23 0.010
Including 237.73 239.00 1.27 1.72 0.29 0.04 0.87 0.25 0.007 0.046
241.00 241.80 0.80 0.58 0.20 0.03 0.53 0.14 0.004 0.026
FL22-493 56.35 56.62 0.27 0.38 0.39 0.09 1.43 0.14 0.012 0.032
66.50 71.10 4.60 0.33 0.27 0.04 0.84 0.11
Including 66.50 67.00 0.50 1.41 0.06 0.01 0.28 0.01 0.001 0.066
Including 67.50 69.40 1.90 0.28 0.55 0.08 1.66 0.21 0.019 0.008
Including 70.95 71.15 0.20 0.90 0.64 0.04 2.41 0.34 0.007 0.059
FL22-494 15.50 17.00 1.50 0.03 0.02 0.00 0.03 0.00 0.002 2.190
28.00 50.00 22.00 0.44 0.30 0.04 0.57 0.09 0.030
Including 36.64 42.44 5.80 1.15 0.73 0.09 1.37 0.23 0.079 0.045
204.50 207.50 3.00 0.11 0.07 0.01 0.51 0.17 0.020
FL22-498 312.50 320.00 7.50 0.22 0.19 0.02 0.44 0.04
Including 312.50 313.50 1.00 0.21 0.56 0.06 1.40 0.08 0.018 0.009
Including 318.80 320.00 1.20 1.01 0.30 0.03 0.81 0.09 0.023 0.025
386.00 389.00 3.00 0.02 0.06 0.01 0.45 0.07
FL22-499 297.50 300.00 2.50 0.06 0.32 0.03 0.76 0.15
Including 299.36 300.05 0.69 0.19 0.96 0.08 2.26 0.37 0.023 0.015
318.50 320.80 2.30 0.40 0.13 0.03 0.48 0.04
320.35 320.85 0.50 1.35 0.44 0.12 2.01 0.19 0.044 0.013

Quality Assurance and Quality Control (QA/QC):

Canadian North Resources Inc. has implemented a quality control program for its Ferguson Lake Project to ensure best practice in the sampling and analysis of the drill cores, which includes the insertion of blanks, duplicates, and certified standards into the sample stream. NQ-sized drill core is saw cut with half of the remaining drill core sampled at intervals based on geological criteria including previous historic results, lithology, visual mineralization, and alteration. The remaining part of the core is stored on-site on the property.

Drill core samples are shipped by bonded carriers in secured containers and submitted to the ALS Geochemistry Yellowknife, Northwest Territories facility for sample preparation and forwarded to the ALS Geochemistry facility in North Vancouver, British Columbia for geochemical analyses. PGE and Gold analyses are obtained via industry standard fire assay with ICP-AES finish for Au, Pt and Pd and ICP-MS finish for Rh using 30g nominal sample weights. For samples returning greater than 10 g/t follow-up fire assay analysis with a gravimetric finish is completed. Samples are also analysed for 33 trace and major elements by ICP-AES following four-acid digestion. ALS Global quality systems conform to requirements of ISO/IEC Standard 17025 guidelines and meets assay requirements outlined for NI 43-101.

The sampling and QA/QC program were undertaken by Company personnel under the direction and supervision      of Qualified Person Dr. Trevor Boyd, P.Geo. A secure chain of custody is maintained in storing and transporting of all samples.

Qualified Person:

The technical contents of this news release have been reviewed by Dr. Trevor Boyd, P.Geo., a qualified person as defined by Canadian National Instrument 43-101 standards.

About Canadian North Resources Inc.:

Canadian North Resources Inc. is an exploration and development company focusing on the metals for the clean-energy, electric vehicles, battery and high-tech industries. The company is advancing its 100% owned Ferguson Lake nickel, copper, cobalt, palladium, and platinum project in Nunavut, Canada.

The Ferguson Lake mining property contains substantial resources in compliance with NI43-101 standards, which include Indicated Mineral Resources of 24.3 million tonnes containing 455 million pounds (Mlb) copper at 0.85%, 321Mlb nickel at 0.60%, 37.5Mlb cobalt at 0.07%, 1.08 million ounces (Moz) palladium at 1.38gpt and 0.18Moz platinum at 0.23gpt; Inferred Mineral Resources of 47.2 million tonnes containing 947Mlb copper at 0.91%, 551.5Mlb nickel at 0.53%, 62.4Mlb cobalt at 0.06%, 2.12Moz palladium at 1.4gpt and 0.38Moz platinum at 0.25gpt. The resource model indicates significant potential for resource expansion along strike and at depth over the 15 km long mineralized belt. (Refer to "Independent Technical Report, Updated Mineral Resource Estimate, Ferguson Lake Project, Nunavut, Canada, June 13, 2022, Prepared by Elisabeth Ronacher and Jamie Lavigne." filed by the Company to Sedar.com).

Further information please visit the website at www.cnresources.com or contact:

Dr. Kaihui Yang, President and CEO

Phone: 905-696-8288 (Canada) 1-888-688-8809 (Toll-Free)

Email: info@cnresources.com

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.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, including statements which may contain words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management's expectations regarding the Company's future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.

These factors should be considered carefully, and readers should not place undue reliance on the Company's forward-looking statements. The Company believes that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. The Company undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.



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Falcon Gold Corp, Thursday, March 30, 2023, Press release picture
Figure 1: Location of Falcon's Area 51 property.

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