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Canagold Resources Ltd. (TSX: CCM,OTC:CRCUF) (OTCQB: CRCUF) (FSE: CANA) ("Canagold" or the "Company") is pleased to announce that it has taken a significant step forward in advancing its New Polaris gold-antimony project by filing an Environmental Assessment (EA) application with the BC Environmental Assessment Office.
"The submission of our EA application is a pivotal moment for the New Polaris project," stated Canagold's Chief Executive Officer, Catalin Kilofliski. "This milestone reflects not only the advancement of the New Polaris project, but also the strength of the relationships we have built along the way. Our approach has always been grounded in meaningful engagement, transparency, and respect for Indigenous Nations and local communities. We remain committed to continuing this collaborative process as we move through the Environmental Assessment and beyond."
The submission of the EA application represents the culmination of extensive technical studies, environmental baseline work, and ongoing engagement efforts. This step advances the project into the formal provincial review process and brings it closer to a construction decision.
Canagold recognizes that the EA process is a critical component in the responsible development of the project. The Company has worked diligently to ensure that the application reflects a comprehensive understanding of environmental, social, and economic considerations. This includes detailed assessments of potential project impacts, as well as the incorporation of mitigation measures designed to minimize environmental footprint and support long-term sustainability.
Throughout the development of the EA application, Canagold has prioritized substantive and transparent engagement with Indigenous Nations, local communities, regulators, and other key stakeholders. The Company remains committed to continuing this collaborative approach as the project progresses through the EA review process. Feedback received to date has played an important role in shaping project design and environmental management strategies, and ongoing dialogue will remain central to the Company's approach.
The New Polaris project is expected to deliver tangible economic benefits to all stakeholders, including employment opportunities, regional investment, and contributions to government revenues, while adhering to high environmental and social standards. In addition, the inclusion of antimony—a critical mineral—enhances the strategic importance of the project within the broader context of secure and responsible supply chains.
Canagold remains committed to advancing the New Polaris project in a manner that is environmentally responsible, socially respectful, and economically beneficial. The Company looks forward to working closely with Indigenous Nations, local communities and stakeholders throughout the EA process and will provide updates as key milestones are achieved.
As previously disclosed, the Feasibility Study demonstrates very solid project economics as detailed below.
Table 1: Financial Highlights: After-Tax NPV (5%), IRR and Cash Flow at US3,300 Gold Price*
| After-Tax NPV (5%) (C$M) | $793 |
| After-Tax IRR (%) | 47.3 |
| After-Tax Payback (years) | 1.7 |
| After-Tax NPV/Initial Capex | 3.2 |
| After-Tax Free Cash Flow ($M) | $1,145 |
*For full disclosure please refer to Company's news release dated July 21, 2025
Qualified Persons
In accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects, Garry Biles, P.Eng, President & COO is the Qualified Person for the Company and has prepared, validated, and approved the technical and scientific content of this news release. The Company strictly adheres to CIM Best Practices Guidelines in conducting, documenting, and reporting activities on its projects.
About Canagold
Canagold Resources Ltd. is an advanced development company dedicated to advancing the New Polaris Project through feasibility, permitting, and production stages. Additionally, Canagold aims to expand its asset base by acquiring advanced projects, positioning itself as a leading project developer. With a team of technical experts, the Company is poised to unlock substantial value for its shareholders.
"Catalin Kilofliski"
_____________________
Catalin Kilofliski, Chief Executive Officer
Canagold Resources Ltd
catalin@canagoldresources.com
604-685-9700
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/290842
