Canagold Founder and Former Chairman, Bradford Cooke Passes Away

VANCOUVER, August 19, 2022 - CanaGold Resources Ltd. (TSX:CCM)(OTCQB:CRCUF)(Frankfurt:CANA) (the "Company" or "Canagold") is saddened by the passing of its founder and former chairman, Mr. Bradford Cooke.

Mr. Cooke founded CanaGold Resources Ltd. in 1987 and served as its chief executive officer until 2014 and as its chairman until July 2022. He focused on financing and managing the exploration and development of gold mining projects in North, Central and South America.

He began his career as project geologist in 1976 managing mineral exploration programs looking for uranium, base metals and precious metals across Canada for Noranda Mines, Shell Minerals and Chevron Minerals from 1976 to 1982. From 1983 to 1987, he owned and operated Cooke Geological Consultants, which found and developed several gold vein deposits for clients and effectively reactivated interest in the Bralorne gold district in British Columbia.

Mr. Cooke formed Endeavour Silver Corp. together with Godfrey Walton in 2003 for the purpose of acquiring and developing high-grade silver-gold projects in Mexico. Since that time, the company has acquired, rebuilt and expanded four silver mines and made a significant discovery with potential to become Endeavour's next cornerstone mine. He has been independent chairman of Aztec Minerals Corp. since January 2017.

The Company wishes to extend its deepest condolences to his family and friends.

About Canagold

CanaGold Resources Ltd. is a growth-oriented gold exploration company focused on advancing the New Polaris Project through feasibility and permitting. Canagold is also seeking to grow its assets base through future acquisitions of additional advanced projects. Canagold has access to a team of technical experts that can help unlock significant value for all Canagold shareholders.

On behalf of the Board of Directors

"Catalin Kilofliski"

Catalin Kilofliski
Chief Executive Officer

For further information please contact:

Knox Henderson, VP Corporate Development
Toll Free: 1-877-684-9700; Tel: (604) 604-416-0337; Cell: (604) 551-2360
Email: knox@canagoldresources.com
Website: www.canagoldresources.com

SOURCE: CanaGold Resources Ltd.