Canadian North Resources Inc. Reports Financial Results and Operating Update for the Second Quarter Ended June 30, 2024

Highlights:

• The new National Instrument 43-101 Technical Report has been filed, defining the large and high-grade mineral resources of the Ferguson Lake Project (Table 1). 80% of the indicated mineral resource is an open pit, which provides a solid mineral resource base for the initial development of a potential major mine.

• Planned geophysical programs to generate new exploration targets with significant potential for generating valuable resources along the strike and slope of the 15 km long main mineralized horizon and in additional zones including the M-Zone, A51-Zone, West Zone Extension, West Zone South and South Discovery Zone (Figure 1).

• Based on the new technical report, new metallurgical testing, community engagement programs, and economic evaluation, infrastructure and environmental studies are planned for the development of a low carbon footprint mine at the Ferguson Lake project.

TORONTO, Aug. 27, 2024 (GLOBE NEWSWIRE) — Canadian North Resources Inc. (“Canadian North” or the “Company”) (TSXV: CNRI; OTCQX: CNRSF; FSE: EO0 (EO-zero)) is pleased to announce its operating and financial results for the second quarter ended June 30, 2024.

Dr. Kaihui Yang, President and CEO, noted: “During this quarter, we filed the new National Instrument 43-101 Technical Report, which demonstrates that the Ferguson Lake Project is one of the highest grade and largest undeveloped copper, nickel, cobalt, palladium and platinum projects in North America (please refer to “Independent Technical Report on the Mineral Resource Estimate for the Ferguson Lake Project, Nunavut, Canada (“the Technical Report”)”, prepared by SRK Consulting and Ronacher McKenzie Geoscience Inc., effective March 19, 2024, filed by the Company with the System for Electronic Document Analysis and Retrieval (““SEDA+”) via the Internet at https://www.sedarplus.ca/landingpage/ on May 3, 2024. The technical report is also posted on the Company’s website at www.cnresources.com).”