(via TheNewswire)

Vancouver, British Columbia – December 2nd, 2025 – TheNewswire - Canary Gold Corp. (CSE: BRAZ | Frankfurt: K5D) (“Canary” or the “Company”) is pleased to announce that it has signed a drilling services contract with Geosol and Geosedna, both wholly owned subsidiaries of Geopar, Brazil’s largest and most established drilling services group. The contract initiates a substantial dual-focused drilling program across the Company’s extensive land package along the prospective Mocururu trend at its Madeira River Project in Rondônia, Brazil.

This milestone follows the strong geological validation achieved during the Company’s first year of field exploration, and builds on positive observations disclosed in last week’s release summarizing heavy-mineral results from samples analyzed by Overburden Drilling Management (ODM).

HIGHLIGHTS

• Two concurrent drilling programs to commence:  

  • ~5,000 metres of screw-auger drilling (Geosol), a modified dry-diamond technique designed to recover complete sample profiles through unconsolidated and consolidated sedimentary formations.  

  • ~15,000 metres of Reverse Circulation–Aircore (RC-AC) drilling (Geosedna) to systematically evaluate the extensive concealed Mocururu search space.  

• Screw-auger program will focus on known Mocururu outcrops and conduct short step-outs (25–50 m) to trace shallow extensions beneath cover.  

• RC-AC program will test the full 80 km strike length of the prospective stratigraphy within Canary’s tenements on a 2 km × 1 km drill-fence / grid configuration.  

• Drilling represents the next major step toward defining the scale and continuity of the gold bearing Mocururu and related secondary gold targets.  

• Program follows positive ODM heavy-mineral observations reported last week, which further supported the Company’s geological model.  

Figure 1. Planned drilling programme at Canary Gold ´s Madeira River Gold Project. Some 5000m of shallow screw-auger drilling is planned over areas of known outcropping of Mocururu with the aim of testing these targets with grid and step out drilling under immediate shallow (< 15-20m) cover. Some 15000m of Reverse-circulation (RC) and or Aircore (AC) drilling will test the entire 80km of prospective strike through a series of drill fences spaced at 2km intervals along strike and 1km intervals across strike.

Table 1. Madeira River Gold Project Drilling Programme

TECHNICAL OVERVIEW OF THE DRILLING PROGRAMS

Screw-Auger (Modified Dry Diamond) Drilling — Geosol (~5,000 m)

The screw-auger technique provides high-quality, continuous, and uncontaminated sampling across the stratigraphic package hosting the Mocururu sediments. This program will:

• Validate and expand upon known Mocururu outcrops.  

• Trace lateral extensions beneath shallow cover;  

• Utilize 25–50 metre infill step-outs to map near-surface geometry of the target units as well as geological controls, geometries and grade distribution of gold bearing zones;  

• Provide detailed lithological and geochemical context to refine the placement of subsequent exploration and evaluation phases.  

Figure 2. Screw-Auger Rig of Geosol, with this rig some 5000m of shallow screw-auger drilling is planned over areas of known outcropping of Mocururu with the aim of testing these targets with grid and step out drilling under immediate shallow cover (< 15-20m).

Figure 3. Screw-Auger configuration and high-quality samples recovered from shallow screw-auger drill .

Reverse Circulation–Aircore (RC-AC) Drilling — Geosedna (~15,000 m)

The RC-AC program is designed to evaluate the broader, under-cover potential of the sedimentary formation of which the targeted gold bearing Mocururu unit is part. Drilling will be completed on a systematic 2 km × 1 km grid covering approximately 80 kilometres of prospective strike defined by the initial exploration phases completed during 2025. This approach enables reconnaissance-scale interrogation of the prospective stratigraphy and efficient identification of the targeted Mocururu unit beneath cover.

Figure 4. Geosedna RC/AC Rig which will drill some 15000m of Reverse-circulation (RC) and or Aircore (AC) drilling to test the entire 80km of prospective strike through a series of drill fences spaced at 2km intervals along strike and 1km intervals across strike.

Click Image To View Full Size

Figure 5. RC/AC samples collected from cyclone for sample splitting, logging and analysis.

MANAGEMENT COMMENTARY

Mark Tommasi, President of Canary Gold, commented:

“Securing Geosol and Geosedna, both part of Geopar, is a major operational milestone for Canary Gold. The scale and design of this program represent the most comprehensive subsurface evaluation undertaken by the company to date. With ODM’s recent positive heavy-mineral results and a year of fieldwork that has consistently supported our geological thesis, the Company is now in a strong position to rapidly accelerate its exploration strategy. The data generated from these drilling programs will be instrumental in defining the distribution, thickness, and continuity of the gold-bearing Mocururu and related secondary targets across our dominant land position.”

Mobilization will commence in early January with drilling to begin following site preparation, staging and land access.

NEXT STEPS

• Mobilization of drill contractors and preparation of initial drill pads.  

• Ongoing integration of screw-auger and RC-AC results with geological mapping, geochemistry, and heavy-mineral datasets.  

• Target refinement and potential expansion of drilling depending on early results.  

• Further updates will be provided as drilling progresses.  

Qualified Person Statement (NI 43-101):

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., who is a  “Qualified Person”  as defined under National Instrument 43-101 –  Standards of Disclosure for Mineral Projects . Mr. Smith is  not independent  of the Company, as he holds an executive and board position.

Data Verification:
In verifying the scientific and technical information disclosed herein, the Qualified Person has reviewed all available geological logs, field notes, sampling documentation, heavy-mineral concentrate reports, analytical certificates, laboratory procedures, and other relevant technical records associated with the Company’s 2025 exploration program. Verification included assessment of sampling methods, chain-of-custody protocols, security of samples from collection through transport to the laboratory, and a review of the analytical methods used by Overburden Drilling Management Ltd. (“ODM”), an independent Canadian laboratory specializing in heavy-mineral evaluation. Where applicable, drill core photographs, stratigraphic profiles, and field observations were compared against laboratory findings to confirm consistency.

Limitations & Stage of Exploration:
The information disclosed herein relates to  early-stage exploration results , including heavy-mineral indicator mineral data, reconnaissance sampling, and preliminary geological interpretations. Heavy-mineral analyses and field-based observations  do not provide quantitative gold grades  and  cannot be used to estimate mineral resources . Additional drilling, systematic sampling, and assay verification are required to determine the significance of the geological features described.

Visible Gold Caution:
The Qualified Person notes that  visible gold described in this release is a qualitative field observation only . Visible gold  does not confirm grade, continuity, or the presence of economic mineralization . Quantitative determination of gold content requires fire-assay analysis and appropriate QA/QC procedures. Early-stage occurrences of visible gold should not be interpreted as indicative of a mineral resource or economic viability.

Exploration Target & Geological Interpretation Caution:
Any reference to potential mineralization, sediment-hosted or paleoplacer systems, or regional metal enrichment is  conceptual in nature . There has been  insufficient exploration to define a mineral resource , and it is uncertain whether further exploration will result in the delineation of a mineral resource. Geological models, including interpretations of the Mocururu horizon, sediment provenance, placer maturity, and basin-scale transport mechanisms, are  interpretive hypotheses  based on limited datasets and should not be considered definitive.

Historical or Third-Party Information:
Where the release refers to historical information, academic references, or third-party geological interpretations (including ODM’s technical commentary), such data have  not been independently verified  by the Qualified Person and may not be representative of mineralization within Canary Gold’s current tenement boundaries.

ABOUT ODM LTD

ODM Ltd is a leading international laboratory domiciled in Canada specializing in heavy-mineral concentrate analysis and sediment provenance studies for mineral exploration programs worldwide.

About Canary Gold Corp.

Canary Gold Corp.  is a Canadian public exploration company focused on the acquisition and development of gold projects in Brazil. The Company holds an option to earn up to a 70% undivided interest in the  Rio Madeira Project through a series of staged exploration expenditures and milestone payments.

In August 2025, the Company further advanced its regional strategy by entering into a definitive agreement to acquire a 100% interest in ten additional mineral tenements totaling approximately 94,700 hectares from  Talisman Venture Partners Ltd. , a private British Columbia corporation. The total consideration of CAD $1.7 million is being satisfied through staged cash and share payments, a portion of which remains to be completed in accordance with the terms of the agreement. Talisman retains a 1.0% net smelter return (NSR) royalty on future production from the acquired tenements, one-half of which (reducing the NSR to 0.5%) may be repurchased by the Company at any time for CAD $1.0 million.

Together, these interests provide Canary Gold with a dominant and strategically consolidated land position in the Madeira River region of Rondônia State — one of Brazil’s most prospective yet underexplored gold provinces.

For Further Information, Please Contact:
Canary Gold Corp.
Mark Tommasi, President
Tel: (604) 318-1448
www.canarygold.ca

Cautionary Statement Regarding Forward-Looking Information

This news release contains forward-looking statements within the meaning of applicable securities laws that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipates”, “expects”, “believes”, and similar expressions or the negative of these words or other comparable terminology. All statements, other than statements of historical fact, included in this release, including, without limitation, statements regarding the Company’s planned exploration programs and drill programs and potential significance of results, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include but are not limited to the risks detailed in the Company’s Prospectus and in the continuous disclosure filings made by the Company with securities regulations from time to time. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by applicable law.

No securities exchange or commission has reviewed or accepts responsibility for the adequacy or accuracy of this release.

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