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Canagold Announces Sale of Hot Springs Point Property in Nevada

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Vancouver, Canada – July 7, 2022 – Canagold Resources Ltd. (TSX: CCM, OTC-QB: CRCUF, Frankfurt: CANA) (“Canagold” or the “Company”) is pleased to announce that it has sold its 100% interest in the 160 acre Hot Springs Point property located in Eureka County, Nevada for $480,000 USD to a third party.

Hot Springs Point is one of 14 mineral properties and two royalties in the American Innovative Minerals (“AIM”) USA gold package acquired by Canagold in 2017 and is one of five AIM properties that have since been leased, optioned or sold by the Company to third parties wanting to explore and earn interests in  Canagold’s Nevada/Idaho portfolio.

Scott Eldridge, Canagold’s CEO, said: “This transaction allows Canagold to monetize and realize value on Hot Springs Point while we focus on our flag ship asset New Polaris in British Columbia. We continue to generate shareholder value through the sale or option of our smaller non-core properties”.

The Company continues to receive expressions of interest in seven properties in Nevada that are available for option, lease or purchase. Canagold is focused on creating shareholder value by advancing its 100% owned New Polaris Gold project located in British Columbia, Canada.

Qualified Person

Garry Biles, P.Eng, President & COO for Canagold Resources Ltd., is the Qualified Person who reviewed and approved the contents of this news release.

“Scott Eldridge” 
                                     
Scott Eldridge
Chief Executive Officer
CANAGOLD RESOURCES LTD.

About Canagold – Canagold Resources Ltd. is a growth-oriented gold exploration company focused on generating superior shareholder returns by discovering, exploring and developing strategic gold deposits in North America. Canagold shares trade on the TSX: CCM and the OTCQB: CRCUF.

For More Information – Please contact:  Knox Henderson, VP Corporate Development

Toll Free: 1-877-684-9700 Tel: (604) 604-416-0337 Cell: (604) 551-2360

Email: [email protected]  Website: www.canagoldresources.com

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