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Canagold Resources Ltd.: Canagold Resources Summarizes 2020 Results and Outlines 2021 Plans to Advance the High Grade New Polaris Gold Mine Project, British Columbia Strengthened the Board of Directors with the addition of Andrew Bowering. Strengthened the Management Team with the addition of Troy Gill as Vice-President of Exploration. Closed a private placement of common shares for gross proceeds of CAD $8.4 million. New Polaris Project, British Columbia Updated Preliminary Economic Assessment (PEA) for New Polaris at US$1500 gold price and $0.71 exchange rate which improved NPV to US$333 million and IRR to 56% after tax. The undiscounted pre-tax, life-of-mine cash flow totals CAD$847 million with a 68% IRR and a 1.7 year pay-back period; compared to undiscounted cash flow total of CAD$554 million, a 47% IRR and a 2.3 year pay-back period in the previous PEA. Given a PEA is conceptual in nature, there is no certainty that the results of the PEA will be realized.

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