Canary Gold Reports Early-Stage Exploration Progress at Madeira River Project in Brazil

Canary Gold Corp. has provided an exploration update for its Madeira River Project in Rondonia, Brazil, reporting that approximately 300 metres of drilling have been completed from a planned 20,000-metre programme. The company emphasizes that this early-stage exploration is designed to test geological models and build datasets rather than confirm economic mineralization. According to Mark Tommasi, President of Canary Gold Corp., this phase focuses on validating the exploration approach and refining future targets based on collected data.

The Madeira River Project is situated within a gold-bearing district containing historic artisanal workings at locations like Zelia and Santo Antonio, which border the company's licenses. These adjacent operations demonstrate regional gold endowment but do not guarantee similar results on Canary's properties. The company's exploration strategy targets concealed mineralization beneath transported cover, requiring systematic drilling and data analysis. Initial outcomes have been consistent with the company's previously disclosed exploration thesis, providing confidence in the targeting methodology.

Canary's technical approach involves using geological data to vector toward potential mineralization areas. The company expects the 2026 drilling programme, informed by current results, to focus exploration on the most prospective tenement sections. Scientific and technical information has been reviewed by Qualified Person Andrew Lee Smith, who verified data through examination of geological logs, sampling documentation, and analytical certificates from independent laboratory Overburden Drilling Management Ltd. (https://www.overburdendrilling.com).

The company acknowledges the high-risk, high-reward nature of this exploration style and cautions that only a small fraction of planned drilling has been completed. In a supportive gold market environment, Canary remains committed to disciplined execution of its exploration strategy. Shareholders are directed to previous news releases for additional context about the exploration model and regional setting. The company holds an option to earn up to a 70% interest in the project through staged expenditures and recently expanded its regional position by acquiring additional tenements from Talisman Venture Partners Ltd.