Canadian Goldfields advances 2026 exploration program at Miminiska

Canadian Goldfields Advances 2026 Exploration Program at Miminiska Gold Project

VANCOUVER, British Columbia, Aug. 31, 2026 (GLOBE NEWSWIRE) -- Canadian Goldfields Discovery Corp. (TSX-V: CGM, OTCQB: CGMXF) (“Canadian Goldfields” or the “Company”) is pleased to announce the commencement of its 2026 Fall Exploration Program at the Miminiska Gold Project in northwestern Ontario, including an extensive soil geochemical survey, an airborne magnetic survey and preparations for a winter camp in support of an anticipated winter drill program.

The 2026 program represents the next phase of systematic exploration at Miminiska, building on approximately 28,000 metres of historical drilling and applying modern exploration techniques across the broader 6,366-hectare property.

Historical drilling has identified gold mineralization at both the Miminiska and Frond Zones, which bookend an interpreted iron-formation trend extending for more than 14 kilometres across the property. Approximately 12 kilometres of prospective strike between the two zones remains largely untested by drilling, providing a significant area for systematic exploration and new target generation.

Canadian Goldfields continues to advance Miminiska in partnership with Eabametoong First Nation (“EFN”). Chief Solomon Atlookan and Council have expressed their support for the Company’s summer and fall 2026 field exploration program, including the planned geophysical work, soil sampling, geological mapping, and preparation of a winterized exploration camp. The Company values its constructive and collaborative relationship with EFN as it advances exploration at the Miminiska Project.

Chief Solomon Atlookan of Eabametoong First Nation commented: “We are pleased with the positive and respectful working relationship that has developed between Eabametoong First Nation and Canadian Goldfields. Despite the challenging wildfire season and dealing with our evacuation, we were able to host a community discussion this past week and very much appreciate the patient and respectful approach that John Booth and his VP of Exploration, Ian Dasti, have taken. Our Exploration Agreement sets the foundation for collaboration and direct community involvement in every phase of the project. Other companies have sought to work in our lands without consent first and that will not work. We appreciate the Company’s continued engagement with our community and the collaborative approach to its activities at Miminiska. It can take time to do things the right way and explore in partnership. We look forward to continuing our work together as exploration progresses, including another community visit this fall to report back to our membership about this phase of work.”

John Booth, Chief Executive Officers, commented: “Miminiska has a strong geological foundation, with approximately 28,000 metres of historical drilling identifying gold mineralization at both the Miminiska and Frond Zones. Importantly, much of the prospective trend between these two areas remains largely untested, and that is where we see an opportunity to significantly expand our understanding of the system.

Our 2026 field program is designed to systematically evaluate this trend using soil geochemistry and high-precision airborne magnetics to strengthen our geological interpretation and advance the next generation of drill targets. With these programs underway and preparations underway for advancing a winter exploration camp, we are entering an important period of exploration at Miminiska. Importantly, we also appreciate the continued engagement and support of Chief Atlookan and Council as we advance our current programs forward.”

2026 Summer and Fall Field Exploration Program

The Company is commencing an extensive soil geochemical survey designed to collect approximately 1,500 samples across approximately 7.5 kilometres. Sampling will focus along the prospective trend between the Frond and Wottam Lake areas, providing systematic geochemical coverage across areas that have seen limited historical exploration.

In parallel, Canadian Goldfields is undertaking an airborne magnetic survey across the entire Miminiska Property. The survey is designed to provide high-resolution magnetic mapping of the property in order to provide additional geological and structural information across prospective portions of the Miminiska property.

The Company is also preparing construction for a winterized exploration camp at Miminiska to support ongoing field activities and an anticipated winter diamond drill program.

Building on the Miminiska Geological Opportunity

Approximately 28,000 metres of historical drilling has been completed at Miminiska with previous drilling identifying gold mineralization at both the Miminiska and Frond Zones.

Selected historical drill results include:

Miminiska Zone

• 4.85m of 17.83 g/t Au
• 5.32m of 13.95 g/t Au
• 4.28m of 10.54 g/t Au
• 5.0m of 5.49 g/t Au
• 6.48m of 5.23 g/t Au
  
  

Frond Zone:

• 1.31m of 14.74 g/t Au
• 1.25m of 7.53 g/t Au
• 0.97m of 6.17 g/t Au
• 0.95m of 11.32 g/t Au

The Miminiska and Frond Zone occur along an interpreted iron-formation trend extending for more than 14 kilometres across the property. Approximately 12 kilometres of the prospective trend between the two known zones remains largely untested by historical drilling.

Canadian Goldfields is applying modern exploration techniques to the property's extensive historical dataset to evaluate the broader gold potential of Miminiska and develop additional targets for future drilling.

About Canadian Goldfields Discovery Corp.

Canadian Goldfields Discovery Corp. is a Canadian mineral exploration company focused on advancing district-scale gold opportunities in Ontario, Canada. The Company’s portfolio includes the flagship Miminiska Gold Project in northwestern Ontario and the Swayze Central Gold Property located within the prospective Swayze Greenstone Belt near Timmins.

Miminiska hosts a gold-rich banded iron formation (“BIF”) system with multiple high-grade intercepts drilled across the Miminiska and Frond Zones and more than 14 km of underexplored strike extent. Supported by approximately 28,000 m of historical drilling, the project demonstrates significant scale potential with mineralization remaining open along strike and at depth. The Swayze Central Gold Property complements the Company’s portfolio with historical high-grade gold occurrences and additional district-scale exploration upside in one of Canada’s most established mining regions.

Canadian Goldfields is led by a lean and execution-focused leadership team committed to disciplined exploration, systematic discovery and long-term value creation through the advancement of high-quality gold assets in tier-one mining jurisdictions.

On behalf of the Company,
John G. Booth, Chief Executive Officer and Director

Additional Information
Harp Gosal | Director of Capital Markets & Communications
Canadian Goldfields Discovery Corp.
Phone: (604) 218-1142
Email: hgosal@canadiangoldfields.com

Qualified Persons and Technical Disclosure

The scientific and technical information contained in this news release has been reviewed and approved by Ian Raymond Dasti, P.Geo, Vice-President of Exploration of Canadian Goldfields Discovery Corp., and a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI-43101”).

Mr. Dasti has reviewed the technical information disclosed in this news release and has approved its dissemination. The information presented herein relates to planned exploration activities at the Company’s Miminiska Central Gold Project, including the design and objectives of the geochemical soil sampling program.

Historical exploration information referenced in this news release has been compiled from publicly available sources and historical reports. A Qualified Person has not completed sufficient work to independently verify all historical information, and the Company is not treating such information as current mineral resources or mineral reserves as defined by NI 43-101. Historical results, mineral occurrences, and exploration data should not be relied upon as indicative of future exploration results.

The Company considers historical exploration information to be relevant for the purpose of guiding future exploration programs; however, readers are cautioned that such information may not be representative of actual mineralization or exploration potential on the Property.

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by many material factors, many of which are beyond their respective control. Such factors include, among other things: risks and uncertainties relating to the Company’s limited operating history and the Company’s planned exploration program for the Miminiska Gold Property is subject to change. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company does not undertake to publicly update or revise forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.