Canary identifies Mocururu outcrops at Madeira River

Executive Summary

• Canary Gold Corp. has identified new outcrops of "Mocururu" (iron-cemented gravel) at its Madeira River Project in Rondonia, Brazil, which are historically associated with gold mineralization.
• Preliminary panning of samples from these new occurrences revealed visual gold particles; however, the company emphasizes this is a qualitative observation that does not confirm grade, continuity, or economic significance.
• The company plans to submit duplicate and replicate samples to SGS Laboratory in Brazil and Overburden Drilling Management Ltd. for further analysis, supporting a major drilling program scheduled to commence in early 2026.

Key Details

• Discovery Location: New Mocururu outcrops identified adjacent to the right bank of the Madeira River in Rondonia, Brazil.
• Geological Context: The outcrops are situated within a belt interpreted by the geological team as having the most favorable geological characteristics observed to date. The discovery supports the hypothesis that gold-prospective sediments from Andean erosion have accumulated in the Madeira River basin.
• Sampling and Analysis:
  • Preliminary panning showed visual gold particles in concentrates.
  • Additional duplicate and replicate samples are being prepared for analysis.
  • Analysis will be conducted at SGS Laboratory (Brazil) and Overburden Drilling Management Ltd. (Canada, specializing in heavy mineral concentrate assessments).
• Future Plans: Data from these discoveries underpins the company's phased exploration strategy. A major drilling program is scheduled to commence in early 2026 across the company's tenement holdings.
• Land Position: The company holds an option to earn up to a 70% undivided interest in the Rio Madeira project. In August 2025, it entered a definitive agreement to acquire 100% interest in 10 additional mineral tenements (~94,700 hectares) from Talisman Venture Partners Ltd. for $1.7 million (staged cash and shares), subject to a 1.0% NSR royalty (reducible to 0.5% for $1.0 million).

Notable Quotes

• "Our team continues to uncover encouraging indications of a gold-bearing sedimentary system across our land package. These new Mocururu discoveries fit directly into our broader exploration strategy and provide further justification for the significant drill campaign we have planned for early 2026." — Mark Tommasi, President of Canary Gold