Canadian Goldfields Commences Airborne Geophysical Survey To Advance Drill Targeting at Miminiska Gold Project

(TSXV:CGM, OTCQB:CGMXF) Canadian Goldfields Discovery Corp. has commenced an airborne geophysical survey at its 6,366-hectare Miminiska Gold Project in northwestern Ontario. The survey, conducted by SHA Geophysics, will cover approximately 1,362 line-kilometres at 50 metre spacing and will collect HeliGT three-axis magnetic and radiometric data. This high-resolution survey is intended to refine priority drill targets ahead of the planned winter 2027 drill program. The survey follows the completion of soil geochemical and geological fieldwork, which, together with historical data compilation, forms the technical foundation for integrating airborne results and finalizing drill targets. The Miminiska Gold Project includes a largely untested 14 kilometre corridor between the Miminiska and Frond Zones, which is a focus for upcoming exploration. Historical drilling at Miminiska and Frond Zones has returned high-grade gold intercepts, including 11.18 m of 4.49 g/t Au, 5.32 m of 13.95 g/t Au, 4.28 m of 9.66 g/t Au, 3.05 m of 5.94 g/t Au, and 3.96 m of 12.69 g/t Au at Miminiska, and 1.31 m of 14.74 g/t Au, 1.25 m of 7.53 g/t Au, 0.97 m of 6.17 g/t Au, and 0.95 m of 11.32 g/t Au at Frond. In the underexplored corridor, historic hole SL87-04 intersected 28.11 g/t Au over 1.5 metres at a downhole depth of 32 metres. The company has confirmed the location of this historic hole and plans to follow up in the upcoming drill program. Canadian Goldfields has established a positive working relationship with the Eabametoong First Nation as the project advances. The Miminiska project is supported by approximately 28,000 m of historical drilling and remains open along strike and at depth. The company’s portfolio also includes the Swayze Central Gold Property within the Swayze Greenstone Belt near Timmins, Ontario. John G. Booth is Chief Executive Officer and Director of Canadian Goldfields Discovery Corp. Ian Dasti, P.Geo., is Vice President of Exploration and a Qualified Person as defined by NI 43-101. The technical report referenced is titled “NI 43-101 Technical Report on the Miminiska Property, Northern Ontario, Canada” with an effective date of December 1, 2025, prepared by Edward Parker, P.Geo., and Eliza Verigeanu, P.Geo., of APEX Geoscience Ltd. The company cautions that historical exploration information has not been independently verified and is not being treated as current mineral resources or reserves.

Canadian Goldfields Confirms High-Grade Gold at Michelle Zone, Swayze Central, with Historic Drill Hole Re-Assay Returning 35.00 m at 3.26 g/t Gold, Including 3.00 m at 15.11 g/t and 5.00 m at 6.08 g/t Gold

(TSXV:CGM, OTCQB:CGMXF) Canadian Goldfields Discovery Corp. reported high-grade gold results from the re-assaying of historic drill core from the Michelle Zone at its Swayze Central Property in Ontario, as well as results from six recently completed diamond drill holes and a B-horizon soil geochemical survey. The re-assay of historic hole RPX-10-02 returned 35.00 metres at 3.26 g/t gold, including 3.00 metres at 15.11 g/t gold and 5.00 metres at 6.08 g/t gold, confirming the company's recalculated historic results and reinforcing the gold potential of the Michelle Zone. The 2026 diamond drilling program comprised six holes totaling 1,422 metres, designed to test induced polarization anomalies, investigate current and historic indications of gold mineralization, and evaluate potential down-plunge and along-strike extensions of historic drill intercepts. Drill hole CGM26-003 intersected two mineralized intervals: 18.6 m at 0.26 g/t Au from 33.0 m (including 1.4 m at 1.37 g/t Au) and 48.5 m at 0.54 g/t Au from 61.5 m (including 1.5 m at 2.56 g/t Au, 0.7 m at 4.01 g/t Au, 0.85 m at 2.73 g/t Au, and 3.05 m at 1.10 g/t Au), extending the Michelle Zone to the west. Drill hole CGM26-004 intersected 20.8 m at 0.56 g/t Au from 7.2 m (including 1.0 m at 2.88 g/t Au and 1.0 m at 1.98 g/t Au), while CGM26-005 returned 28.44 m at 0.13 g/t Au from 7.4 m (including 1.0 m at 1.04 g/t Au) and 2.1 m at 0.13 g/t Au from 42.9 m. Drill hole CGM26-002 intersected 20.15 m at 0.33 g/t Au from 276.0 m (including 7.6 m at 0.58 g/t Au and 0.75 m at 2.37 g/t Au). CGM26-001 intersected 18.8 m at 0.14 g/t Au from 132.2 m, and CGM26-006 intersected 3.4 m at 0.14 g/t Au from 153.0 m. The B-horizon soil geochemical survey comprised 1,808 samples over approximately 113 line-km, identifying multiple east–west-trending gold-in-soil anomalies extending across as many as five survey lines. Collar locations for the six drill holes are provided, with easting and northing coordinates ranging from 394,838.1 to 395,630.1 and 5,304,145.7 to 5,304,413.0, and hole lengths from 127 m to 334 m. The company reviewed and corrected historic assay data, including overlimit handling and transcription errors, and recalculated intervals as length-weighted averages. Ian Dasti, P.Geo., Vice President of Exploration, commented that the results reinforce the company's confidence in the Swayze Central project and provide a foundation for planning follow-up work. The technical team is also focused on advancing the flagship Miminiska Gold Project, with further work at Swayze Central aimed at building on the results achieved to date.

Canadian Goldfields Closes Acquisition of Newton Gold Property in Ontario

Canadian Goldfields Discovery Corp. (TSXV: CGM) (OTCQB: CGMXF) announced the completion of its acquisition of the Newton Gold Property, located in Ontario, under an amalgamation agreement dated April 28, 2026. The property is considered highly prospective, with historic drill results including 35m at 4.05 g/t Au and 40m at 2.65 g/t Au. The acquisition involved issuing 12,500,000 common shares to Newton Gold Shareholders, with resale restrictions over 6, 12, and 18 months. The Newton Gold Property covers approximately 7,029 hectares and is subject to a 2% net smelter return royalty (50% repurchasable for $1,500,000) and a 1.5% net smelter return royalty (repurchasable for $500,000). No finder's fees were paid, and the transaction is an Arm's Length Transaction. The company plans to focus future exploration on orogenic gold deposit types at the property. This acquisition strengthens Canadian Goldfields' portfolio in Ontario and supports its strategy of disciplined exploration and discovery-focused drilling.

Canadian Goldfields Announces Investor Relations Program, Engaging Gold Standard Media LLC

Canadian Goldfields Discovery Corp. (TSXV: CGM, OTCQB: CGMXF) announced an investor relations agreement with Gold Standard Media LLC (GSM) and its affiliates to raise awareness of the Company's shares among investors. The agreement is for three months, from May 8, 2026 to August 8, 2026, with an up front payment of US $350,000 to GSM. The Miminiska Gold Project, located in northwestern Ontario, features more than 14 km of under-explored strike and 25,000 m of historical drilling. The project hosts a gold-rich banded iron formation system with multiple high-grade intercepts already drilled. The company aims to unlock value through disciplined exploration and discovery-focused drilling.

Canadian Goldfields to Acquire Newton Gold Property in Ontario

Canadian Goldfields Discovery Corp. (TSXV: CGM, OTCQB: CGMXF) announced it has entered into an amalgamation agreement dated April 28, 2026, to acquire Newton Gold Corp. and its Newton Gold Property in Ontario. The acquisition involves issuing 12,500,000 common shares to Newton Gold shareholders, with specific resale restrictions over 18 months. Historic drill results at the Newton Gold Property include 35m at 4.05 g/t Au and 40m at 2.65 g/t Au. The property covers approximately 7,029 hectares and is subject to net smelter return royalties. The transaction is subject to TSX Venture Exchange approval and other customary conditions.