We studied a sample of stars associated with the Sh 2-296 nebula, part of the reflection nebulae complex in the region of Canis Major (CMa R1). Our sample corresponds to optical counterparts of X-ray sources detected from observations with the XMMNewton satellite, which revealed dozens of possible low-mass young stars not yet known in this region.A sample of 58 young star candidates were selected based on optical spectral features, mainly Hα and lithium lines, observed with multi-objects spectroscopy performed by the Gemini South telescope. Among the candidates, we find 41 confirmed T Tauri and 15 very likely young stars. Based on the Hα emission, the T Tauri stars were distinguished between classical (17%) and weak-lined (83%), but no significant difference was found in the age and mass distribution of these two classes.The characterization of the sample was complemented by near-and mid-infrared data, providing an estimate of ages and masses from the comparison with pre-mainsequence evolutionary models. While half of the young stars have an age of 1-2 Myrs or less, only a small fraction (∼ 25%) shows evidence of IR excess revealing the presence of circumstellar discs. This low fraction is quite rare compared to most young star-forming regions, suggesting that some external factor has accelerated the disc dissipation.