Red Canyon Provides Drilling Update and Expands 2026 Targeting Plans at its 100% owned Kendal Copper Project

Executive Summary

• Red Canyon completed a five‑hole, 2,548 m diamond drill program on Kendal Ridge (Q4 2025) that intersected extensive porphyry‑style alteration and anomalous Cu‑Mo‑Au‑Ag mineralization.
• Assays confirmed continued high‑grade copper and molybdenum zones, with the strongest copper–gold–silver intervals in holes RCKD‑25‑007 and RCKD‑25‑010; a separate moly‑rich vein set was identified on the eastern portion of the ridge.
• The company expanded its 2025 soil geochemistry program (252 samples) revealing new Cu‑Mo‑Au‑Ag anomalies east of Kendal Creek, defining multiple high‑priority targets for a 2026 exploration campaign that will include infill geochemistry, IP geophysics and diamond drilling beginning Q2 2026.

Key Details

• Drill Program Scope: 5 holes, total depth 2,548 m across a 500 m × 500 m area of the interpreted 4 km × 3 km hydrothermal system.
• Hole RCKD‑25‑006: 593.5 m interval, 0.039 % Cu, 95.9 ppm Mo, 0.47 % Ag; includes a higher‑grade sub‑interval (12.2–277 m) with 0.051 % Cu, 81.8 ppm Mo, 0.73 % Ag.
• Hole RCKD‑25‑007: 444.1 m interval, 0.053 % Cu, 46 ppm Mo, 0.49 % Ag; multiple sub‑intervals up to 0.140 % CuEq over a 67 m section (263–330 m).
• Hole RCKD‑25‑008: 441.5 m interval, 0.050 % Cu, 92.4 ppm Mo, 0.55 % Ag; includes a 56 m sub‑interval with 0.229 % CuEq.
• Hole RCKD‑25‑009: 499.0 m interval, 0.031 % Cu, 73.9 ppm Mo, 0.69 % Ag; several sub‑intervals reaching up to 0.228 % CuEq.

• Hole RCKD‑25‑010: 509.0 m interval, 0.047 % Cu, 84.8 ppm Mo, 0.63 % Ag; deeper sections show increasing Cu grades (up to 0.072 % Cu).

• Soil Geochemistry (2025): 252 samples over a 2.6 km × 0.9 km area identified:

• Broad Cu‑in‑soil anomalies, with a core 1.6 km × 0.8 km Mo anomaly.

• Coincident Ag and Au anomalies; several zones align with MobileMT conductive/resistive features.

• Target Zones Defined for 2026:

• Moly Fork – strong resistive structure, potential fluid pathway, untested high‑resistivity segment.

• Ridge Breccia, Express Corridor, 9East, FarEast, Whipit – each characterized by distinct geochemical and geophysical signatures (e.g., elevated Cu‑Mo‑Ag, conductive anomalies, low Th/K ratios).

• 2026 Exploration Plan: Infill soil sampling, IP geophysics, and diamond drilling to commence in Q2 2026 targeting the east of Moly Fork and Kendal Creek.

Notable Quotes

“We have successfully completed the 2025 targeted Kendal Ridge drill program… These results further reinforce our confidence in the strength and scale of the Kendal system.” – Wendell Zerb, Chairman & CEO

“Kendal Ridge drilling once again confirms the impressive scale of the mineralized alteration footprint… highlights the opportunities within the as‑yet untested portions of the system.” – Dr. Craig Hart, Chief Geoscientist