Canary Gold Corp. Signs Drilling Contract for Major 20000m Drill Program at the Madeira River Project, Rondônia, Brazil
CANARY GOLD CORP. SIGNS DRILLING CONTRACT FOR MAJOR 20000m DRILL PROGRAM AT
THE MADEIRA RIVER PROJECT, RONDÔNIA, BRAZIL
Vancouver, British Columbia – December 2nd , 2025 – 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 Overburde n Drilling Management
(ODM).
HIGHLIGHTS
Two concurrent drilling programs to commence:
o ~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.
o ~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.
Type of Drilling Company Number of holes Metres
RC/AC Geosedna 300 15000
Screw Auger Geosol 100 5000
Total 400 20000
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 cove r (< 15 - 20m) .
Figure 3 . Screw - Auger configuration and high - quality samples recovered from shallow screw - auger dri l l.
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.
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 instrumenta l 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 M ocururu horizon, sediment provenance,
placer maturity, and basin - scale transport mechanisms, a re 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 smelt er 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”, “belie ves”, 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 expl oration 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 co uld 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 cau se 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.