Mr. Mark Tommasi reports

CANARY GOLD CORP. IDENTIFIES NEW OUTCROPS OF "MOCURURU" AT IT'S MADEIRA RIVER PROJECT, RONDONIA, BRAZIL

Canary Gold Corp.'s field team, as part of its continuing exploration program, has identified a sequence of new Mocururu outcrops, an iron-cemented gravel historically recognized in the area of the Madeira River for hosting gold mineralization.

Preliminary panning of samples collected from these new occurrences have resulted in the visual observation of gold particles in concentrates. It is critical to note that visual gold is a qualitative observation only, and does not confirm grade, continuity or economic significance. Additional duplicate and replicate samples are being prepared for analysis at SGS Laboratory in Brazil and for physical examination at Overburden Drilling Management Ltd., an internationally recognized Canadian laboratory specializing in heavy mineral concentrate assessments.

The newly identified outcrops are situated within a belt interpreted by the company's geological team as a zone exhibiting the most favourable geological characteristics observed to date adjacent to the right bank of the Madeira River. The integration of these discoveries, alongside continuing data collection efforts, continues to support the company's hypothesis that sediments prospective for gold, originating from Andean erosion, have accumulated over time within the Madeira River basin in Rondonia, Brazil.

These data sets underpin Canary Gold's phased exploration strategy and will be further evaluated during the major drilling program scheduled to commence in early 2026 across the company's extensive tenement holdings (see press release dated Dec. 2, 2025).

Mark Tommasi, president of Canary Gold, commented: "Our team continues to uncover encouraging indications of a gold-bearing sedimentary system across our land package. These new Mocururu discoveries fit directly into our broader exploration strategy and provide further justification for the significant drill campaign we have planned for early 2026."

Qualified person statement (National Instrument 43-101)

The scientific and technical information contained in this news release has been reviewed and approved by Andrew Lee Smith, PGeo, executive director of Canary Gold, 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, 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 and 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 quality assurance/quality control procedures. Early-stage occurrences of visible gold should not be interpreted as indicative of a mineral resource or economic viability.

Exploration target and 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 data sets 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. Historical information is not being treated as current and should not be relied upon until verified by the company.

About Canary Gold Corp.

Canary Gold is a Canadian public exploration company focused on the acquisition and development of gold projects in Brazil. The company holds an option to earn an up-to-70-per-cent 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-per-cent interest in 10 additional mineral tenements totalling approximately 94,700 hectares from Talisman Venture Partners Ltd., a private B.C. corporation. The total consideration of $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-per-cent net smelter return royalty on future production from the acquired tenements, one-half of which (reducing the NSR to 0.5 per cent) may be repurchased by the company at any time for $1.0-million.

Together, these interests provide Canary Gold with a dominant and strategically consolidated land position in the Madeira River region of Rondonia state -- one of Brazil's most prospective yet underexplored gold provinces.

We seek Safe Harbor.