Canary Gold Corp. Reports Promising Early Results from Madeira River Project Drilling

Canary Gold Corp. has reported encouraging early results from its ongoing drill program at the Madeira River Project in Brazil, supporting the identification of a potentially significant paleochannel gold system. Recent shallow drilling targeting interpreted paleochannel environments intersected continuous sand and gravel horizons ranging from approximately 1 to 3 metres in thickness at depths of 10 to 20 metres, consistent with the Company's geological model for preserved auriferous fluvial systems.

Gold was recovered from seven consecutive drill holes completed along a single drill fence extending 200 meters, oriented perpendicular to the interpreted channel direction, demonstrating lateral continuity within the target horizon. Within this fence, holes were spaced from 25 to 50 meters. Notably, two of these holes returned gold grain counts over approximately 3 metre vertical intervals, with individual samples yielding in excess of 105 fine gold grains. These represent the highest gold grain counts recorded to date across the Company's project area and compare favourably with internal benchmark samples. It is important to note that gold grain counts are not equivalent to gold grade and should not be interpreted as a measure of gold concentration or economic viability.

The identification of lithologies associated with the Mocururu Formation in multiple drill holes provides further support for the Company's exploration model and targeting approach. Based on these early-stage results, the Company's preliminary interpretation indicates a preserved paleochannel system width exceeding 200 metres has been intersected. While still at an early stage of exploration, these results indicate potential for a laterally extensive gold-bearing system, subject to additional drilling, sampling, and analysis. The Company is advancing systematic follow-up drilling, including step-out holes along parallel fences, to better define the geometry, continuity, and controls on gold distribution within the system.

Canary Gold is also implementing enhanced sampling and analytical protocols to support more robust quantitative evaluation. Operational capacity continues to improve, with additional equipment deployed to optimize drilling efficiency and sample recovery. A combined air-core/reverse circulation (AC/RC) rig is expected to be mobilized in the near term, which is anticipated to accelerate drilling and expand coverage across the broader target area. The scientific and technical information contained in this news release has been reviewed and approved by Andrew Lee Smith, P.Geo., Executive Director of Canary Gold Corp., a Qualified Person as defined under National Instrument 43-101. Verification included assessment of sampling methods, chain-of-custody protocols, and analytical methods used by independent laboratories including Overburden Drilling Management Ltd. and SGS - Geosol Laboratories Ltd.