Canary Gold Provides Update on Exploration Progress at Madeira River Project, Rondonia and Corporate Milestones

Executive Summary

• Canary Gold reported completion of two initial drilling campaigns (1,950 m air‑core and 457 m sonic) that intersected target horizons and yielded visual gold particles in heavy‑mineral concentrates.
• The company announced the acquisition of a 94,700‑hectare land package from Talisman Venture Partners, expanding its Madeira River footprint.
• Two non‑brokered private placements were closed in September 2025, raising CAD 1.69 M and CAD 1.11 M respectively, both oversubscribed, strengthening the treasury for upcoming exploration.

Key Details

• Aircore Drilling Campaign: 1,950 m completed; intersected stratigraphic horizon known to host auriferous Mocururu layers.
• Sonic Drilling Campaign: 457 m completed; provided continuous intact samples and visual gold particles observed in heavy‑mineral concentrates (qualitative indicator only).
• Collaboration Initiated: Partnered with Overburden Drilling Management (ODM) to characterize gold in heavy‑mineral concentrates.
• Land Expansion: Acquisition of Talisman Venture Partners package (~94,700 ha) announced 29 Aug 2025, expanding Madeira River holdings.
• Financing – Private Placement #1: Closed 10 Sep 2025; gross proceeds CAD 1,687,500; oversubscribed by CAD 687,500.
• Financing – Private Placement #2: Closed 25 Sep 2025; gross proceeds CAD 1,112,500; oversubscribed by CAD 112,500.
• Warrant Exercises: Significant warrant exercises reported, further strengthening cash position for future drilling programs.

Notable Quotes

“With a strong team and infrastructure in place, and supported by early exploration results, Canary is progressing into the next phase of our program.” – Mark Tommasi, President, Canary Gold Corp.