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Canadian Goldfields to Acquire Newton Gold Property in Ontario
Vancouver, British Columbia--(Newsfile Corp. - April 28, 2026) - Canadian Goldfields Discovery Corp. (TSXV: CGM) (OTCQB: CGMXF) (the "Company") is pleased to
About this update from Canadian Goldfields Discovery Corp
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - April 28, 2026) - Canadian Goldfields Discovery Corp. (TSXV: CGM) (OTCQB: CGMXF) (the \"Company\") is pleased to announce that it has entered into an amalgamation agreement dated April 28, 2026 (the \"Amalgamation Agreement\") among the Company, a wholly-owned subsidiary of the Company, and privately held Newton Gold Corp. (\"Newton Gold\") to acquire the highly prospective Newton Gold Property, located in Ontario. Highlights of the Newton Gold Property: Historic drill results (from the eight-hole 2010 drill program) include 35m at 4.05 g/t Au including 15.42m at 7.76 g/t Au in drill hole 10-02 and 40m at 2.65 g/t Au in drill hole 10-08 (true widths are unknown).* Excellent location within the Swayze Greenstone Belt, considered a southwest extension of the prolific Abitibi greenstone belt, home to multiple Tier One mines. Despite being highly prospective, with high grade drill results historically reported, drilling has been limited in known zones with additional high priority targets completely undrilled. About the Newton Gold Property The Newton Gold Property is located approximately 100 kilometres (km) southwest of the city of Timmins and 36 km south of the town of Foleyet, Ontario. The property comprises 2 fee simple patented claims that cover an area of approximately 7,029 hectares (ha). Geology, Mineralization and Deposit Type: The Newton Gold Property lies within the Swayze greenstone belt (\"SGB\") which is considered a southwest extension of the Abitibi greenstone belt, which comprises a diversity of both intrusive and extrusive rocks ranging in from ultramafic through felsic composition as well as chemical and clastic sedimentary rocks. The structural and geological architecture of the SGB is conducive to a variety of gold depositional environments similar in nature and significance to other gold bearing deposits in Archean-aged greenstone belts hosted within the Wawa-Abitibi Terrane. These typically fall into the category of orogenic gold deposit types like the Kirkland Lake Gold Camp, the Timmins Gold Camp and the Wawa Gold Camp. Orogenic gold deposit types will be the focus of future exploration activities on the Newton Gold Property. The Newton property itself consists of an easterly striking series of volcanic flows and tuffs ranging from ultramafic and basic basalts...