Canagold Studies Robust Shareholder Help for AGM Vote

Corrects A number of Errors in Report by Proxy Advisor ISS

Exposes Dissident’s Intentional Lack of Disclosure on ISS Report

Reminds Shareholders to Vote the YELLOW Proxy

• Shareholder help for Canagold has been sturdy for AGM Vote.

• Canagold corrects a number of factual errors in ISS Proxy Advisory Report.

• Dissident fails to offer correct disclosure of proxy advisor’s report.

• Deadline to submit YELLOW Proxies is July 15, 2022 at 10 a.m. (Pacific Time).

• Questions or require help with voting the YELLOW Proxy? Contact Laurel Hill Advisory Group at 1-877-452-7184 or by e-mail at [email protected].

VANCOUVER, BC / ACCESSWIRE / July 8, 2022 / Canagold Sources Ltd. (TSX:CCM)(OTCQB:CRCUF)(Frankfurt:CANA) (“Canagold” or the “Firm“)experiences that shareholder help for administration’s board nominees has been sturdy for the upcoming AGM vote. Administration want to remind shareholders that the deadline to vote your YELLOW proxy is quick approaching and you’re inspired to vote nicely prematurely of the deadline on July 15, 2022 at 10 a.m. (Pacific Time).

Canagold additionally corrects a number of errors made by ISS of their report. There are too many to quote; nevertheless, among the key errors embrace:

• Dissident’s financing proposal is “pretty much as good or higher” than latest Canagold financings – FALSE. The Dissident’s non-flow-through financing supply is definitely a 20% DISCOUNT to Canagold’s final non-flow-through financing at $0.40 per share solely 18 months in the past, and a 16% DISCOUNT to Canagold’s final flow-through financing at $0.50 per share solely 9 months in the past

• Canagold is avoiding a important financing determination – FALSE. Vikram Sodhi is aware of this can be a lie and Canagold’s letter despatched to SunValley on Might 18 clearly notes this (click on right here). Sodhi desires your board to drop all efforts to hunt higher financing options and simply take the primary one opportunistically made on the latest low within the inventory value. Your administration and board have a fiduciary obligation to judge financing options for the Firm which can be in the most effective curiosity of the Firm making an allowance for the curiosity of ALL shareholders, not simply ONE shareholder.

• Cooke too busy with Endeavour – FALSE. Regardless that a Chairman’s position is oversight, not administration, Mr. Cooke has actively labored with administration for a few years to facilitate M&A (the AIM acquisition and Getchell disposition), financings (see the 2 most up-to-date ones above) and introducing Canagold to his community of traders.

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Moreover, Canagold understands the frustration Shareholders have felt with the onslaught of misinformation from SunValley Firm DMCC (“SunValley” or the “Dissident”)-. The Dissident’s latest information launch asserting beneficial help from Institutional Shareholder Companies Inc. (“ISS“) is their newest try to skew the reality. ISS is a proxy advisor who supplies company governance evaluation and voting suggestions to its institutional subscribers. Shareholders ought to be aware the next info in ISS’ report that the Dissident deliberately edited out to favour itself:

• ISS beneficial a “Vote WITHHOLD for dissident nominee Andrew Trow”;

• ISS warned that “use of the dissident card will increase the chance that three dissident nominees are elected to the board” and ISS DOES NOT help the entire Dissident nominees;

• the Dissident failed “to make a compelling case for a change of board management”. ISS additional clarifies, “the case for board management requires a well-reasoned and detailed marketing strategy, which on this case, has not been totally offered. As an alternative, the dissident has provided a brief abstract of a strategic plan with out indicating issues corresponding to whether or not or not main adjustments within the firm’s administration can be wanted, and who’s proposed to behave in these administration roles…”.

Shareholders ought to make up their very own choices primarily based on info – info that may be discovered at www.canagoldresources.com/2022agm/. For causes to help Canagold’s board nominees and the way Canagold has been advancing, Shareholders are inspired to go to Canagold’s web site and the letter to shareholders dated July 6, 2022 that was just lately mailed out.

THE DISSIDENT DOES NOT DESERVE YOUR VOTE. VOTE FOR CANAGOLD’S MANAGEMENT NOMINEES USING ONLY THE YELLOW PROXY

Voting is simple. As a result of essence of time, you’re inspired to vote your YELLOW proxy on-line or by phone. Shareholders who’ve voted utilizing the Dissident’s proxy and want to help Canagold nonetheless have the precise to alter their vote by merely executing a YELLOW proxy. A later-dated YELLOW proxy replaces a beforehand recorded vote.

TIME IS OF THE ESSENCE. YELLOW PROXIES MUST BE RETURNED NO LATER THAN

JULY 15, 2022 AT 10 A.M. (PACIFIC TIME).

DO NOT enable Vikram Sodhi and SunValley to grab management of your organization, your board and your challenge with out paying YOU a premium on your Canagold shares.

SHAREHOLDER QUESTIONS AND VOTING ASSISTANCE

When you’ve got questions or require help with voting your shares, please contact Canagold’s strategic advisor and proxy solicitation agent:

Laurel Hill Advisory Group
North American Toll Free: 1-877-452-7184 (416-304-0211 Outdoors North America)
Electronic mail: [email protected]

“Bradford Cooke”

Bradford Cooke
Founder and Chairman of the Board
CANAGOLD RESOURCES LTD.

“Scott Eldridge”

Scott Eldridge
Chief Government Officer
CANAGOLD RESOURCES LTD.

About Canagold – Canagold Sources Ltd. is a growth-oriented gold exploration firm targeted on producing superior shareholder returns by discovering, exploring and growing strategic gold deposits in North America. Canagold shares commerce on the TSX: CCM and the OTCQB: CRCUF.

Cautionary Notice Relating to Ahead-Trying Statements

This information launch comprises “forward-looking statements” throughout the that means of the US non-public securities litigation reform act of 1995 and “forward-looking info” throughout the that means of relevant Canadian securities laws. Statements contained on this information launch that aren’t historic info are forward-looking info that includes recognized and unknown dangers and uncertainties. Ahead-looking statements on this information launch embrace, however usually are not restricted to, statements with respect to the Dissident’s intentions in offering the advance discover and their plans for Canagold and its future financings; and the provision of different financing alternatives on equal or higher phrases than these provided by the Dissident. In sure circumstances, forward-looking statements may be recognized by way of phrases corresponding to “plans”, “has confirmed”, “expects” or “doesn’t count on”, “is anticipated”, “potential”, “seems”, “finances”, “scheduled”, “estimates”, “forecasts”, “not less than”, “intends”, “anticipates” or “doesn’t anticipate”, or “believes”, or variations of such phrases and phrases or state that sure actions, occasions or outcomes “could”, “might”, “would”, “ought to”, “would possibly” or “can be taken”, “happen” or “be achieved”.

Ahead-looking statements contain recognized and unknown dangers, uncertainties and different components which can trigger the precise outcomes, efficiency or achievements of the Firm to be materially totally different from any future outcomes, efficiency or achievements expressed or implied by the forward-looking statements. Such dangers and different components embrace, amongst others dangers associated to the uncertainties inherent within the estimation of mineral assets; commodity costs; adjustments usually financial circumstances; market sentiment; forex alternate charges; the Firm’s potential to proceed as a going concern; the Firm’s potential to boost funds by fairness financings; dangers inherent in mineral exploration; dangers associated to operations in overseas nations; future costs of metals; failure of apparatus or processes to function as anticipated; accidents, labor disputes and different dangers of the mining trade; delays in acquiring governmental approvals; authorities regulation of mining operations; environmental dangers; title disputes or claims; limitations on insurance coverage protection and the timing and doable end result of litigation. Though the Firm has tried to determine necessary components that would have an effect on the Firm and should trigger precise actions, occasions or outcomes to vary materially from these described in forward-looking statements, there could also be different components that trigger actions, occasions or outcomes to not be as anticipated, estimated or meant. There may be no assurance that forward-looking statements will show to be correct, as precise outcomes and future occasions might differ materially from these anticipated in such statements. Accordingly, don’t place undue reliance on forward-looking statements. All statements are made as of the date of this information launch and the Firm is beneath no obligation to replace or alter any forward-looking statements besides as required beneath relevant securities legal guidelines.

SOURCE: Canagold Sources Ltd.

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