Red Canyon Completes Kendal Ridge Targeted Drill Program and Expands Soil Geochemistry Survey

Executive Summary

• Red Canyon Resources completed a Phase 2 targeted diamond drill program (5 holes, 2,548 m) on the Kendal copper project, intersecting porphyry‑style B veins with copper and molybdenum mineralization in all holes.
• The program identified a major north‑south structure (Moly Fork) that may act as a long‑lived fluid pathway and highlighted strong vectoring of mineralization to the east, where high‑grade hypogene chalcocite veining (up to 27.5 % Cu) has been observed.
• An expanded soil geochemistry program (252 samples) was also completed in H2 2025; assay results are expected late 2025/early 2026.

Key Details

• Drill Program: 5 diamond holes, total depth 2,548 m, targeting a 500 × 500 m area at the Kendal Ridge zone within the interpreted 4 × 3 km Kendal hydrothermal system.
• Key Intercepts & Observations:
• All holes intersected porphyry‑style B veins with variable pyrite, chalcopyrite, and molybdenum in propylitic and sericite‑chlorite altered intrusions.
• Hole RCKD‑25‑006 drilled easterly from Kendal Ridge, crossed the Moly Fork north/south structure before entering an eastern continuation of the mineralized system.
• Un‑tested high‑resistivity geophysical anomaly remains on the Moly Fork trend; area east of Kendal Ridge hosts breccias with copper/molybdenum and chalcocite veining grading up to 27.5 % Cu.
• Structural Interpretation: The Moly Fork structure is considered a significant, long‑lived fluid conduit potentially critical to the genesis of the Kendal system.
• Geophysical Context: High‑resistivity, low magnetic response zones correlate with altered porphyry intrusions hosting multiple generations of B‑style veins; these are not yet interpreted as the primary causative intrusion.
• Soil Geochemistry Program: 252 soil samples collected from lowermost B‑horizon soils using auger techniques; designed for project‑scale multi‑element ICP analysis. Results pending late 2025/early 2026.
• Project Infrastructure: Kendal comprises five 100 % owned claims (2,738 ha) ~25 km NE of Terrace, BC, with road, rail, power and port access within 120 km. Located in the traditional territory of the Kitselas First Nation.
• Management Comment: Wendell Zerb (Chairman & CEO) emphasized that the drill program “dramatically improved our understanding of mineralizing and structural features” and that vectoring to the east aligns with complex magnetic, conductive and resistive signatures, as well as high‑grade breccia zones.

Notable Quotes

“We’ve successfully completed the 2025 targeted Kendal Ridge drill program… this small program was an important test of the Kendal Ridge zone and dramatically improved our understanding of mineralizing and structural features driving the large hydrothermal system at Kendal.” – Wendell Zerb, Chairman & CEO

Materiality Assessment: Non‑Material – Positive (exploratory drilling update that enhances project understanding but does not yet constitute a material financial event).