Manitoba Mineral Development Fund Grants Canadian Gold Corp. $300,000 to Expand Exploration Program
MWN-AI** Summary
On November 17, 2025, Canadian Gold Corp. (TSXV: CGC) announced a significant boost to its mining exploration efforts with the approval of a $300,000 grant from the Manitoba Mineral Development Fund (MMDF). This funding brings the total financial support from the MMDF to $900,000 since 2023, playing a pivotal role in advancing the Tartan Mine project located in Flin Flon, Manitoba. Canadian Gold has invested approximately $12.7 million into the Tartan Mine since 2012, now under the acquisition process by McEwen Inc., which aims to propel the mine toward a production decision.
Since securing its initial MMDF grant, Canadian Gold has made substantial progress, including expanding the vertical extent of the Tartan Mine resource through an extensive drilling program totaling 33,668 meters. The company has also optioned adjacent properties, Tartan West and Flin Flon North, enhancing synergies and supporting a potential mine restart. Furthermore, Canadian Gold is actively prospecting across the project and increasing local employment to bolster exploration initiatives.
Looking ahead, after McEwen Inc. completes its acquisition, the Tartan Mine is set to witness further investment in 2026 with plans for 15,000 to 20,000 meters of drilling, an updated resource estimate anticipated in Q1, and a preliminary economic assessment by year-end. Michael Swistun, CFA, the Company's President & CEO, expressed gratitude towards the Province of Manitoba, the MMDF, and the Manitoba Chamber of Commerce for their ongoing support, emphasizing the significance of this funding for their Phase 4 diamond drilling program.
For Canadian Gold Corp., the MMDF's assistance reinforces Manitoba's promising landscape for mineral exploration, supported by unique tax incentives for local investors.
MWN-AI** Analysis
In light of the recent announcement that Canadian Gold Corp. has received a $300,000 grant from the Manitoba Mineral Development Fund (MMDF), this is a pivotal moment for investors considering opportunities within the mining sector, especially for gold exploration companies. With a total of $900,000 in funding from the MMDF since 2023, Canadian Gold has shown a commitment to advancing the Tartan Mine project, positioning itself strategically for growth and potential profitability.
Investors should note that Canadian Gold has already invested a significant sum of $12.7 million into the Tartan Mine since its inception. The company has effectively utilized the received grants to expand its exploration capabilities, notably through an extensive drilling program. The completion of 33,668 meters of drilling has significantly enhanced the mineral resource base, which should positively influence future valuations. This ongoing investment in the mine not only prepares the company for increased production but also attracts the attention of larger entities, such as McEwen Inc., which is in the process of acquiring Canadian Gold.
Moreover, the consolidation of surrounding properties like Tartan West and Flin Flon North can lead to synergies that enhance the project's overall potential. With plans for an additional 15,000 to 20,000 meters of drilling in 2026, along with an updated resource estimate and a preliminary economic assessment, the company is on track for notable developmental milestones.
Given Manitoba’s supportive regulatory environment, characterized by incentives like the Manitoba Mineral Exploration Tax Credit (MMETC), the region presents a compelling investment case. Investors looking for exposure to the gold sector should closely monitor Canadian Gold Corp.'s progress, as its strategic initiatives and external funding efforts offer a unique opportunity within the dynamic landscape of mineral exploration.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Flin Flon, Manitoba--(Newsfile Corp. - November 17, 2025) - Canadian Gold Corp. (TSXV: CGC) ("Canadian Gold" or the "Company") is pleased to announce that it has been approved for an additional $300,000 grant from the Manitoba Mineral Development Fund ("MMDF"). In total, the MMDF has granted Canadian Gold $900,000 since 2023, which has been a significant reason why the Company has been able to advance the Tartan Mine. In total, the Company has invested approximately $12.7 million into the project since 2012. Canadian Gold is currently in the process of being acquired by McEwen Inc., which is planning to advance the Tartan Mine towards a production decision.
Since receiving the first grant from the MMDF, Canadian Gold has 1) meaningfully increased the vertical extent of the Tartan Mine resource through 33,668 metres of core drilling, 2) optioned the adjoining Tartan West and Flin Flon North properties, consolidating the entire Tartan Shear Zone and positioning the Company to capitalize on synergies with a potential restart of the Tartan Mine, 3) conducted project-wide prospecting with the goal of developing new exploration targets, and 4) is in the process of hiring additional employees from Flin Flon to support the project. Upon completion of the acquisition by McEwen Inc., the Tartan Mine is expected to see further strong investment in 2026, including 15,000-20,000 metres of drilling, an updated resource estimate in Q1, and a preliminary economic assessment by year-end.
"We wish to thank the Province of Manitoba, the MMDF, and the Manitoba Chamber of Commerce for their continued support of our exploration program at the Tartan Mine near Flin Flon, Manitoba. This funding will help advance the ongoing Phase 4 diamond drill program." - Michael Swistun, CFA, President & CEO
Canadian Gold wishes to acknowledge the significant impact that the MMDF continues to have on mineral exploration and development in Manitoba. The continued support of the MMDF and the Manitoba Mineral Exploration Tax Credit ("MMETC") make Manitoba a strong destination for mineral exploration. Manitobans may also avail themselves of the unique tax incentives when investing in eligible Manitoba mineral exploration projects, such as the Tartan Mine.
For Further Information, Please Contact:
Michael Swistun, CFA
President & CEO
Canadian Gold Corp.
(204) 232-1373
info@canadiangoldcorp.com
Social Media Accounts:
X (Twitter)
Instagram
Facebook
LinkedIn
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Qualified Person
The scientific and technical information disclosed in this news release was reviewed and approved by Wesley Whymark, P. Geo., Consulting Geologist for the Company, and a Qualified Person as defined under National Instrument 43-101.
About Canadian Gold Corp.
Canadian Gold Corp. is a Canadian-based mineral exploration and development company whose objective is to expand the high-grade gold resource at the past producing Tartan Mine, located in Flin Flon, Manitoba. The historic Tartan Mine currently has a 2017 indicated mineral resource estimate of 240,000 oz gold (1,180,000 tonnes at 6.32 g/t gold) and an inferred estimate of 37,000 oz gold (240,000 tonnes at 4.89 g/t gold). (Tartan Lake Project Technical Report, Manitoba, Canada, April 2017 authored by Mining Plus Canada Consulting Ltd.). The Company also holds a 100% interest in greenfields exploration properties in Ontario and Quebec adjacent to some of Canada's largest gold mines and development projects, specifically, the Canadian Malartic Mine (QC), the Hemlo Mine (ON) and Hammond Reef Project (ON). McEwen Inc. (NYSE: MUX) (TSX: MUX) holds a 5.6% interest in Canadian Gold, and Robert McEwen, the founder and former CEO of Goldcorp, and Chairman and CEO of McEwen Inc., holds a 32.5% interest in Canadian Gold.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release of the Company contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Canadian Gold's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274278
FAQ**
How has the approval of the $300,000 grant from the Manitoba Mineral Development Fund specifically benefited the development of the Tartan Mine near Flin Flon? Satori Resources Inc STRRF.
What are the projected environmental impacts and community benefits for Flin Flon as the Tartan Mine moves closer to production under McEwen Inc.'s guidance? Satori Resources Inc STRRF.
Can you elaborate on the significance of the Tartan West and Flin Flon North properties in relation to the overall strategic plans for Canadian Gold Corp. and the Tartan Mine? Satori Resources Inc STRRF.
How will the additional 15,000-20,000 metres of drilling in 2026 affect the projected resource estimates and overall feasibility of the Tartan Mine project? Satori Resources Inc STRRF.
**MWN-AI FAQ is based on asking OpenAI questions about Satori Resources Inc (OTC: STRRF).
NASDAQ: STRRF
STRRF Trading
65.0% G/L:
$0.462 Last:
23,300 Volume:
$0.4515 Open:
