Highlights: Filed the Mineral Resources Statement in compliance with the National Instrument 43-101 Standards that defines the large and high-grade Mineral Resources at the Ferguson Lake Project (Figure 1 and 2). 80% of the Indicated Mineral Resource is Open Pit, which provides a solid Mineral Resource base for the initial development of a potential large mine. Identified new targets with significant resource upside potential along strike and down dip of the 15 km long main mineralized horizon and on additional zones including M-Zone, A51-Zone, A51 Zone Extension, Small Island and Lake Zone, West Zone South and South Discovery Zone (Figure 1). Planned new metallurgical tests, economic evaluation and infrastructure and environmental studies for low-carbon footprint mine development at the Ferguson Lake Project. TORONTO, May 27, 2024 (GLOBE NEWSWIRE) -- Canadian North Resources Inc. ("Canadian North" or the "Company") (TSXV: CNRI; OTCQX: CNRSF; FSE: EO0 (E-O-zero)) is pleased to report its operational and financial results for the first quarter ended March 31, 2024. "During this quarter, we filed the Mineral Resource Statement and subsequently the new NI43-101 Technical Report, which included the results of 39,270 meter drilling programs completed during 2022-23 (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 to the System for Electronic Document Analysis and Retrieval ("SEDAR+") through the Internet at https://www.sedarplus.ca/landingpage/ on May 3, 2024. The Technical Report has also been posted on the Company's website at www.cnresources.com)." Said Dr. Kaihui Yang, the President and CEO, "The result 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, and possesses high potential for resource expansion along the strike and down dip of the 15-main mineralized horizon and within a number of undefined mineralization zones and prospective areas." "We will continue to build up the shareholders' value." Dr. Yang added, "We will expand the mineral resources from surface to the depth of 1,200 meter along the confirmed the high-grade mineralized zones at the Ferguson Lake Project. We will also conduct more metallurgical testing, including new technologies such as bio-hydrometallurgy, and commence economic evaluation, infrastructure and environmental studies for a low-carbon footprint mine development plan at the Ferguson Lake Project." Figure 1, Geological map showing mineralization zones. The Mineral Resources incorporate West, Central and East Zones. Figure 2, the 3D model of the mineral resources for the West and Central Zones of the Ferguson Lake Project Quarter 1 of 2024 Highlights: The Company ended the quarter with cash and cash equivalents of $4,749,941 The Company engaged in the following activities in the first quarter: January 2, 2024, the Company reported the results from the processing of Borehole Time-Domain Electromagnetic (BHTEM) surveys from deep West Zone drillholes FL22-481A and FL23-481B completed at its 100% owned Ferguson Lake Project. The results demonstrate the continuance of the West Zone greater than 200 metres beyond the historically defined down-dip drilled extent of the zone and show its open potential for continued expansion both laterally and further down-dip at depths of 650 to >800 metres. The Company also announced that Dr. Trevor Boyd was retired from the VP Exploration and would continue to be a Technical Advisor and QP for the Company. January 18, 2024, the Company announced that its IR team would attend the Vancouver Resource Investment Conference (the VRIC) in Vancouver on January 21-22, 2024. During and after the VRIC, the IR team would do the roadshows to the investors in Vancouver. February 27, 2024, the Company announced that its participation in the Prospectors and ...