Canary Gold Corp. Preparing Ground Reconnaissance at Talisman Project and Advancing Plans for 20,000-Meter Drill Program at Rio Madeira

Executive Summary

• Canary Gold Corp. is preparing to mobilize a field crew to the newly acquired Talisman Project in Rondônia, Brazil, pending receipt of exploration permits.
• The company is finalizing logistics for a multi‑rig drill program at its Rio Madeira Project, slated to start in November, targeting ~15,000 m of aircore and 5,000 m of screw‑auger drilling along an 80 km Mocururu horizon.
• Recent milestones include completion of air‑core and sonic drilling campaigns, establishment of an in‑country sample‑preparation facility, and acquisition of additional tenements (≈94,700 ha) for CAD $1.7 M, expanding the district‑scale land position to >160,000 ha.

Key Details

• Talisman Project Mobilization: Ground reconnaissance, geological mapping, and sampling will be conducted once required permits are obtained.
• Rio Madeira Drill Program:
• Approx. 15,000 m aircore + 5,000 m screw‑auger drilling planned.
• Targeting the 80 km‑long Mocururu gold‑bearing stratigraphy.
• Drilling to commence in November 2025.
• Recent Exploration Milestones:
• 1,950 m aircore program confirmed presence of targeted Mocururu stratigraphy.
• 457 m sonic drilling achieved continuous core recovery; visible gold grains observed in pan concentrates.
• In‑country sample‑preparation facility operational in Porto Velho for faster assay turnaround and QA/QC control.
• Land Position: Over 160,000 ha (≈618 sq mi) across the Madeira River Gold Province, encompassing multiple high‑priority targets.
• Planned Drill Campaign Scale: ~20,000 m total drilling (15 km aircore + 5 km screw‑auger).
• Acquisition of Additional Tenements:
• 100% interest in ten tenements totaling ≈94,700 ha acquired from Talisman Venture Partners Ltd. for CAD $1.7 M (cash and share payments; final portion pending).
• Talisman retains a 1.0% NSR royalty, with an option for the company to repurchase half (reducing to 0.5%) for CAD $1.0 M.
• Funding: Oversubscribed private placements provide sufficient capital to execute 2025 exploration plans.

Notable Quotes

“Our technical and exploration teams are advancing aggressively on multiple fronts,” said Mark Tommasi, President of Canary Gold Corp. “The Talisman program will expand our regional footprint and enhance target generation, while the upcoming drill campaign represents an important step toward assessing the district‑scale potential of the Rio Madeira Project.”

Materiality Assessment: Material – Positive (significant expansion of land position, commencement of a large‑scale drill program, and secured financing indicate material positive impact on the company’s exploration outlook).