Canary Gold Receives Technical Roadmap for Rio Madeira Alluvial Gold Project Validation

Canary Gold Corp. (CSE: BRAZ; OTCQB: CNYGF; Frankfurt: K5D) announced it has received additional technical observations and recommendations from Clara Maria Lamus Molina, an internationally recognized geologist-engineer specializing in alluvial gold deposits. The review provides the Company with a practical roadmap to advance the Rio Madeira project from preliminary geological observations toward systematic, auditable technical data.

The recommendations come after the Company’s June 10, 2026 news release reporting that deeper drilling intersected targeted mature coarse sediments, including gravels and sands, supporting the interpretation of a large-scale paleochannel system associated with the Madeira River. The Company believes this review represents an important step in positioning the project for future exploration milestones and potentially supporting a National Instrument 43-101 compliant mineral resource estimate, subject to continued exploration success.

Ms. Molina’s review highlighted several positive indicators, including active alluvial gold mining within the Madeira River system and visible free gold observed during inspections of active operations, though the Company cautions these observations are not necessarily indicative of mineralization on its property. Favourable gravel intervals and geomorphological features compatible with alluvial plains, terraces, and paleochannels were identified, with paleochannels and coarse-gravel systems designated as priority targets.

A central recommendation from Ms. Molina is the use of sonic drilling in priority areas. Sonic drilling is considered well suited to unconsolidated alluvial environments because it can improve sample recovery, preserve stratigraphic relationships, and support more accurate measurement of recovered sample volume. These factors are critical in alluvial gold exploration, where gold distribution can be irregular and reliable evaluation depends on representative sampling and volume control.

Mark Tommasi, President of Canary Gold, stated: “Rio Madeira exhibits several characteristics commonly associated with alluvial gold systems. The next step is disciplined validation. Ms. Molina’s review gives us a clear technical pathway to test the project in a way that is systematic, auditable and meaningful for investors.” He added that alluvial systems are evaluated on a volumetric basis, where channel size, gravel thickness, recoverable gold content, and processing efficiency are all important.

Future work is expected to focus on systematic sonic drilling, metre-by-metre geological logging, recovered-volume measurement, controlled sample processing, and gravity concentration. The Company also plans to implement robust QA/QC and chain-of-custody procedures. Ms. Molina has recommended that future sampling incorporate screening through a 1/8-inch mesh, with material washed and concentrated via skilled panning or calibrated gravity equipment.

Canary also reviewed the Nechí alluvial gold system in Colombia, operated by Mineros S.A., as an educational benchmark. Nechí has NI 43-101 mineral resource and reserve disclosure, extensive drilling, and production history. The Company cautioned that Nechí is not located on or adjacent to the Madeira River Project and is materially more advanced, and no inference should be drawn that the Madeira River Project hosts comparable mineralization.

The Company is now reviewing budgets, logistics, and sequencing for a priority sonic-drilling and sample-processing program. Canary holds an option to earn up to a 70% interest in the Rio Madeira Project and has expanded its regional position through an agreement to acquire 100% interest in ten additional tenements totaling approximately 94,700 hectares. Talisman Venture Partners retains a 1.0% net smelter return royalty, half of which may be repurchased for CAD $1.0 million.

Management cautions that exploration remains at an early stage, with no mineral resource defined and no assurance that continued exploration will result in an economic deposit. The scientific and technical information has been reviewed by Andrew Lee Smith, P.Geo., a Qualified Person under NI 43-101, who serves as Executive Chairman and is not independent.

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