Canary Gold prepares for fieldwork at Talisman

Executive Summary

• Canary Gold Corp. is mobilizing a field crew to its newly acquired Talisman project in Rondonia, Brazil, for ground reconnaissance, geological mapping, and sampling to refine drill targets.
• The company is finalizing logistics for a major 20,000-meter drill program at its flagship Rio Madeira project, scheduled to commence in November, consisting of 15,000 meters of air-core drilling and 5,000 meters of screw-auger drilling.
• The company controls over 160,000 hectares in the Madeira River gold province, supported by recent milestones including successful air-core and sonic drilling programs and the establishment of an in-country sample preparation facility.

Key Details

• Talisman Project Activity: Mobilization of a field crew for ground reconnaissance, geological mapping, and sampling contingent on receiving necessary exploration permits.
• Rio Madeira Drill Program:
  • Schedule: Commencing in November.
  • Scope: Approximately 20,000 meters total.
  • Methodology: ~15,000 meters of air-core drilling and ~5,000 meters of screw-auger drilling (a variation of diamond coring for water-saturated/unconsolidated formations).
  • Target: Systematically test the 80-kilometer-long Mocururu horizon.
  • Lab Work: Samples submitted to an accredited laboratory for fire assay and multielement analysis under standard QA/QC protocols.
• Recent Exploration Milestones:
  • Completed 1,950-meter air-core drilling program confirming the presence of targeted Mocururu stratigraphy.
  • Completed 457-meter sonic drilling campaign achieving continuous core recovery through unconsolidated auriferous sediments; visible gold grains observed in pan concentrates.
  • Established an in-country sample preparation facility in Porto Velho for faster turnaround and improved QA/QC.
  • Delineated two principal geological and radiometric domains (B and C) interpreted to host gold-bearing horizons.
• Land Position:
  • Controls over 160,000 hectares (618 square miles) along the Madeira River corridor.
  • Includes 10 additional mineral tenements totaling ~94,700 hectares acquired from Talisman Venture Partners Ltd.
• Acquisition Terms (Talisman Venture Partners):
  • Consideration: $1.7 million satisfied through staged cash and share payments.
  • Royalty: Talisman retains a 1.0% Net Smelter Return (NSR) royalty, reducible to 0.5% if the company repurchases half for $1 million.
• Financial Status: Company is well-financed via oversubscribed private placements, positioning it to fully execute 2025 exploration plans.

Notable Quotes

• "Our technical and exploration teams are advancing aggressively on multiple fronts," said Mark Tommasi, president of Canary Gold. "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."