Canary Gold Corp. Discovers New Gold-Bearing Outcrops in Brazil's Madeira River Basin

Canary Gold Corp. has announced the discovery of new "Mocururu" outcrops at its Madeira River Project in Rondônia, Brazil, with preliminary sampling showing visible gold particles. The iron-cemented gravel formations, historically recognized for hosting gold mineralization in the area, were identified by the company's field team during ongoing exploration activities.

The newly identified outcrops are located within a belt interpreted by Canary Gold's geological team as exhibiting the most favorable geological characteristics observed to date adjacent to the right bank of the Madeira River. According to the company, these discoveries support the hypothesis that sediments prospective for gold, originating from Andean erosion, have accumulated over time within the Madeira River basin.

Mark Tommasi, President of Canary Gold, stated that these discoveries fit directly into the company's broader exploration strategy and provide further justification for the significant drill campaign planned for early 2026. The company's phased exploration strategy will be further evaluated during this major drilling program across its extensive tenement holdings.

Additional duplicate and replicate samples are being prepared for analysis at SGS Laboratory in Brazil and for physical examination at Overburden Drilling Management Ltd. (ODM), an internationally recognized Canadian laboratory specializing in heavy-mineral concentrate assessments. The company emphasized that visual gold observations are qualitative only and do not confirm grade, continuity, or economic significance.

The scientific and technical information has been reviewed and approved by Andrew Lee Smith, P.Geo., Executive Director of Canary Gold Corp., who is a Qualified Person as defined under National Instrument 43-101. Verification included assessment of sampling methods, chain-of-custody protocols, and review of analytical methods used by independent laboratories including ODM.

Canary Gold holds an option to earn up to a 70% undivided interest in the Rio Madeira Project through staged exploration expenditures and milestone payments. In August 2025, the company further advanced its regional strategy by entering into a definitive agreement to acquire a 100% interest in ten additional mineral tenements totaling approximately 94,700 hectares from Talisman Venture Partners Ltd. These interests provide Canary Gold with a consolidated land position in what the company describes as one of Brazil's most prospective yet underexplored gold provinces.

The company cautions that the information disclosed relates to early-stage exploration results and that heavy-mineral analyses and field-based observations do not provide quantitative gold grades and cannot be used to estimate mineral resources. Additional drilling, systematic sampling, and assay verification are required to determine the significance of the geological features described.