Vancouver, British Columbia – July 10, 2026 – Canadian Goldfields Discovery Corp. (TSX-V: CGM, OTCQB: CGMXF) ("Canadian Goldfields" or the "Company") is pleased to announce the commencement of an extensive soil geochemical survey at its Swayze Central Gold Project (previously referred to as the Newton Gold Project) in Ontario. The survey represents the first phase of the Company's target generation strategy and is designed to advance the Company's geological understanding of the property through modern geochemical techniques.
The program is targeted to collect approximately 6,000 soil samples over a three-month period. Sampling will focus on areas surrounding known mineralization, historical drill targets and additional prospective areas identified through the Company's review of historical geological data. Results will be used to refine and prioritize exploration targets and guide future exploration activities.
John Booth, Chief Executive Officer and Director, commented: "The Swayze Central Gold Project benefits from a strong foundation of historical exploration, and this program represents an important step in advancing our understanding of the property's geological potential. By integrating historical exploration results with modern geochemical techniques, we expect to refine existing targets, identify new areas of interest and prioritize future exploration across the project."
Historical Exploration
Historical exploration at Swayze Central has included an eight-hole diamond drilling program completed in 2010. As reported in the Ontario Assessment Report, 2010 Diamond Drilling Report – Saracourt Property, Newton Township, N.T.S. 41 O (Myles Johnson, 2011), drill hole RPX10-02 intersected 35.0 metres grading 4.05 g/t Au, including 15.42 metres grading 7.76 g/t Au, while drill hole RPX10-08 returned 40.0 metres grading 2.65 g/t Au. True widths are unknown.
Historical mapping completed by Dome Exploration in 1982 documented numerous gold occurrences across the property, including reported results of 118.97 g/t Au over 0.91 metres, 32.23 g/t Au over 1.22 metres, and grab samples returning up to 22.22 g/t Au. Historical assay values and intervals have been converted to metric units for consistency with current reporting conventions.
The soil geochemical survey is expected to:
- Refine historical exploration targets;
- Identify additional prospective target areas;
- Prioritize future prospecting and geophysical programs; and
- Support future drill targeting.
The Company will provide additional updates as field activities progress and analytical results become available.
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 Gold Project 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 Gold Project 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
Contact information
Harp Gosal | Director of Capital Markets & Communications
Canadian Goldfields Discovery Corp.
Phone: (604) 218-1142
Email: [email protected]
* Historical drill results are reported as core lengths and do not necessarily represent true widths