Canary Gold Corp. has mobilized its 2026 exploration program at the Madeira Project in Brazil, commencing a 20,000-metre dual-rig drilling campaign designed to define near-surface mineralization and conduct regional reconnaissance. The company has engaged Geosol, a leading drilling services contractor, to execute this comprehensive program that represents a significant step in advancing one of Brazil's most prospective yet underexplored gold regions.
The first drill rig has arrived on site and is currently mobilizing to initial collar locations. This rig utilizes a screw-auger drilling system, a specialized technique optimized for unconsolidated ground conditions that is specifically designed to recover high-quality samples from the favorable "Mocururu" geologic horizon and associated prospective gravel beds. This phase of drilling will total approximately 5,000 metres across roughly 100 drill holes, targeting high-priority geological zones with an initial grid spacing of 200 metres by 100 metres, with flexibility to tighten spacing based on visual observations and assay results.
The company expects the arrival of a second drill rig—a Reverse Circulation unit—during the second half of January. While the screw-auger program focuses on defining specific near-surface geological units, the RC rig will be deployed to "sweep" the broader land package included in the original agreement with New Frontiers. This phase will involve approximately 15,000 metres across roughly 300 drill holes on a wide-spaced reconnaissance grid of approximately 2,000 metres by 1,000 metres, testing the oxide profile to a maximum depth of approximately 50 metres per hole.
In parallel with the drilling mobilization, the company has completed a comprehensive update of its corporate website and investor presentation. These refreshed materials are designed to more clearly communicate the geological framework, exploration strategy, and scale of the company's land position. The updated website at https://www.canarygold.ca reflects the company's transition into an active execution phase, providing shareholders with improved technical context and a more structured overview of Canary's exploration objectives.
Mark Tommasi, President of Canary Gold Corp., commented that as the company moves into an active drilling phase, it was important that public-facing materials evolve alongside operations. The updated materials better reflect where the company is today and support clear, consistent communication during what is expected to be a very productive year of exploration.
The company also announced it has granted an aggregate of 6,107,500 stock options to certain directors, officers and consultants pursuant to the company's Omnibus Equity Incentive Plan. The options have an exercise price of $0.27 per common share for a period of five years from the date of grant. All securities are subject to a statutory hold period of four months and one day from the date of grant, in compliance with applicable stock exchange policies.
The scientific and technical information contained in the announcement 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. The company emphasizes that information disclosed relates to early-stage exploration results, and 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.
This drilling program represents a critical phase for Canary Gold as it seeks to validate geological models and potentially identify economic mineralization in the Madeira River region of Rondônia State. The dual-rig approach allows for both detailed geological definition and broad regional assessment, potentially accelerating the discovery process in an area that has shown geological promise but remains largely untested by modern exploration methods.
