Mr. Clive Brookes reports

GOLDCANA ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT FOR GROSS PROCEEDS OF $1,000,000

Further to the news release dated Oct. 16, 2026, Goldcana Resources Inc. has closed its previously announced non-brokered private placement of two million flow-through common shares in the capital of the company at a price of 50 cents per flow-through share for aggregate gross proceeds of up to $1-million.

Each flow-through share will consist of one common share in the capital of the company. The flow-through shares issued pursuant to the private placement are subject to a four-month-and-one-day hold period under Canadian securities laws that expires on Feb. 24, 2027.

The gross proceeds from the private placement will be used for exploration expenditures on La Sarre property, as previously announced in the company's news release dated Sept. 30, 2026. The company will incur Canadian exploration expenses as defined in Subsection 66.1(6) of the Income Tax Act (Canada) and flow-through critical mineral mining expenditures as defined in Subsection 127(9) of the Income Tax Act (Canada).

In connection with the private placement, the company paid aggregate cash finders' fees of $70,000 and issued an aggregate of 140,000 non-transferable finders' warrants to eligible arm's-length finders in accordance with applicable securities laws and Canadian Securities Exchange policies. Each finder's warrant is exercisable into one common share at a price of 50 cents per common share for a period of 24 months from the date of issuance.

About Goldcana Resources Inc.

Goldcana is engaged in the identification, acquisition, exploration and development of mineral resource projects. The company holds the exclusive option to acquire a 100-per-cent interest, subject to net smelter return royalties ranging from 2 per cent to 3 per cent, in the Triple F gold project, which consists of eight mineral claims covering approximately 851 acres located in the Nicola and Vernon mining divisions, British Columbia, approximately 28 kilometres northwest of Kelowna.

We seek Safe Harbor.