Mr. Wendell Zerb reports

RED CANYON EXPANDS LAND POSITION BY 129% AT ITS OSIRIS COPPER-GOLD PROJECT

Red Canyon Resources Ltd. has issued 18 new mineral claims adjoining the company's existing 100-per-cent-owned Osiris claims in central British Columbia.

Company highlights:

• Acquisition of an additional 18 mineral claims totalling 11,722 hectares north of and adjoining previous claims at Osiris has been confirmed by the British Columbia Mineral Titles Branch. The company now controls 27,114 hectares within the Quesnellia Island Arc, a significant geological terrane host to copper and copper-gold mines within British Columbia.
• The company targeted this property extension based on factors that indicate strong potential for copper and copper-gold porphyry systems. The central portion of the claim expansion has had significant historical programs of airborne magnetics, IP and ZTEM geophysics, soil and till geochemistry, which identify potential copper porphyry targets. Limited drilling has been conducted in this area.
• The company recently completed eight diamond drill holes totalling 2,079 metres at the Camp target within the Osiris project. Based on this initial drilling, the company interprets the Camp target to host an alkalic copper-gold mineral system with geological similarities to the Mount Polley and Mount Milligan mines in British Columbia.
• Several new high-priority targets including Nautilus and EV (see news release dated July 30, 2026) have been upgraded and plans for initial drilling are under way.
• A first-pass truck-mounted auger drilling program is planned to commence in mid-August and is designed to provide more definitive geochemical data in selected areas associated with priority targets.

Wendell Zerb, the chairman and chief executive officer of the company, commented: "We believe the Osiris area has excellent potential to host high-margin alkalic copper-gold systems. Based on this, we have expanded our mineral claims to the north at Osiris. We now control over 27,000 hectares in our Inzana project. An excellent database consisting of previously completed airborne magnetics, IP geophysics, ZTEM geophysics and various geochemistry has outlined numerous never tested targets within our expanded claim area."

Red Canyon projects

The company holds a portfolio of seven 100-per-cent-owned projects in British Columbia and Nevada. High-priority projects are Kendal in west-central British Columbia, Inzana (Osiris and Acheron) in central British Columbia and Scraper Springs in northeast Nevada.

Osiris project

The Osiris project now comprises 29 mineral claims totalling 20,839.7 hectares, which forms the northern part of the Inzana project area. The Inzana project area is located in central British Columbia, approximately 60 kilometres northwest of the district municipality of Fort St. James and 35 km west-southwest of Centerra Gold's Mount Milligan Cu-Au (copper-gold) mine. The area has excellent access, provided by primary and secondary forestry roads.

The company staked 26,575.2 hectares of mineral claims within the Inzana project area that are 100 per cent owned and royalty-free. The company has also entered into property option agreements to acquire a 100-per-cent interest in an additional two mineral claims at Osiris and two mineral claims at Acheron, totalling 539 hectares, for total consideration of $48,000 payable over a three-year term. Each two optioned mineral claims at Osiris and Acheron are subject to a 1.25-per-cent net smelter return royalty, of which 100 per cent may be purchased for $2-million at any time.

The project area covers the early Mesozoic-aged Quesnellia island arc terrane that occupies much of east-central British Columbia and hosts several of the province's largest copper mines. The project area is bound to the west by the northwest-trending Pinchi fault, which juxtaposes older Cache Creek terrane against Triassic-Jurassic Quesnellia terrane. The company interprets several northeast-southwest cross-arc structures in the area including a significant structure on the northern boundary of the Camp and Nautilus targets. Cross-arc structures are well documented to be important structural pathways for the localization of porphyry deposits in arc terranes worldwide.

The central portion of the Osiris claim expansion has had significant historical programs largely carried out by Serengeti Resources from 2005 to 2011. Work consisted of airborne magnetics, IP and ZTEM geophysics, soil and till geochemistry, identifying potential copper porphyry targets. Limited drilling has been conducted in the area.

The new claim area is located along the southwestern margin of the Hogem batholith, one of the largest and most prospective intrusive complexes in central British Columbia. It is a composite, multiphase, calc-alkalic to alkalic intrusive complex of Late Triassic to Middle Jurassic age (around 205 to 175 Ma (million years ago)). It is geologically important for porphyry exploration in that it represents large-scale magma emplacement which includes differentiated shallow porphyry intrusions that could form or host copper mineralization. Parts of the southern portion of the Hogem batholith occur on the Red Canyon mineral claims forming discrete magnetic features never previously tested for porphyry potential.

The company is prioritizing targets for initial exploration throughout this expanded mineral claim area.

Osiris priority targets 2026

Red Canyon has conducted airborne magnetic and radiometric surveys, completed by Precision Geosurveys, with Fathom Geophysics completing data filtering and MVI modelling. Scott Geophysics completed IP surveys on select target areas. Much of the area is glacial till covered and select soil and till sampling programs have been completed over the area and in association with specific targets. The company is currently expanding targeted soil/till geochemistry surveys.

The company has recently completed eight diamond drill holes totalling 2,079 m at the Camp target within the Osiris project. Based on this initial drilling, the company interprets the Camp target to host an alkalic copper-gold mineral system with geological similarities to the Mount Polley and Mount Milligan mines in British Columbia (see news release dated July 30, 2026).

Several high-priority targets including Nautilus and EV (see news release dated July 30, 2026) have been upgraded and plans for initial diamond drilling in September, 2026, are under way.

A program of up to 40 truck-mounted auger drill holes is planned to commence in mid-August. Road accessible areas identified by Red Canyon will be tested with the goal of collecting basal till samples and cuttings/rock chips of the bedrock. This rotary/auger drill program is designed to provide more conclusive geochemical sample data in select areas associated with geological and geophysical targets.

About Red Canyon Resources Ltd.

Red Canyon Resources is a technically-driven, discovery-focused mineral exploration company exploring North America's top copper jurisdictions. The company's core goal is to make impactful copper discoveries and has a portfolio of 100-per-cent-owned copper and copper-gold porphyry exploration projects.

The 100-per-cent-owned Kendal copper project in west-central British Columbia remains a priority project for the company. The 2026 exploration program including expanded geochemical surveys is under way. A new IP geophysical survey is planned to expand on principal targets identified by previous drilling and new project modelling.

The company completed a project-scale ZTEM geophysical survey at its 100-per-cent-owned Scraper Springs project in Nevada. Results, followed by modelling and interpretation, are now anticipated in late Q3 2026.

The company's technical team consists of experienced geoscientists with diverse capital market, junior, and major mining company backgrounds and a record of success.

Red Canyon is part of the NewQuest Capital group which is a discovery-driven investment company that builds value through the incubation and financing of mineral projects and companies. Further information about NewQuest can be found on the company website.

Qualified person

The technical information contained in this update has been reviewed and approved by Wendell Zerb, PGeol, a qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Wendell Zerb is not independent by reason of being the chairman, president and CEO of the company. In presenting examples in this release for comparison including the Mount Polley mine and the Mount Milligan mine in British Columbia, the company in no way implies that future exploration will necessarily result in the discovery of similar economic mineral deposits. The qualified person has not verified the information on theses deposits and the information disclosed is not necessarily indicative of mineralization on Red Canyon projects.

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