Red Canyon Closes Flow-Through Financing

Vancouver, British Columbia, October 26, 2026 – TheNewswire - Red Canyon Resources Ltd. (“Red Canyon” or the “Company”) (CSE: REDC | OTCQB: REDRF | Frankfurt: I91) is pleased to announce it has completed its previously announced non-brokered flow-through private placement (the “FT Offering”) raising gross proceeds of $745,000 through the issuance 3,725,000 flow-through units (each, a "FT Unit") of the Company at a price of $0.20 per FT Unit.

Each FT Unit consists of one flow-through common share of the Company (each, a “FT Share”) and one-half of one common share purchase warrant (each whole such warrant, a “Warrant”). Each Warrant is exercisable into one common share of the Company (each, a “Warrant Share”) at a price of $0.30 for an 18-month term. Each FT Share will qualify as a “flow-through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”). The Warrant Shares issued on exercise of the Warrants will not be “flow-through shares” for the purposes of the Tax Act.

The proceeds from the FT Offering will be used to incur eligible “Canadian exploration expenses” that qualify as “flow-through critical mineral mining expenditures” as both terms are defined in the Tax Act (the “Qualifying Expenditures”) related to the Company’s Kendal and Osiris projects, and other eligible projects in British Columbia, on or before December 31, 2027, and the Company will renounce all the Qualifying Expenditures in favour of the subscribers of the FT Shares effective December 31, 2026. The flow-through critical mineral mining expenditures will be eligible for a federal 30% investment tax credit for any eligible individual investors and, for any individual investor who is resident or subject to tax in the Province of British Columbia, the incurred exploration expenses will also be eligible for the 20% additional tax credit under the Income Tax Act (British Columbia).

All securities issued are restricted from trading until February 27, 2027.

Cash finder’s fees of $24,025 were paid on a portion of the FT Offering.

Management and Insiders of the Company purchased a total of 937,500 FT Units.  The participation by Insiders in the FT Offering constitutes a “related party transaction” for the purposes of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions.  The Company is relying upon exemptions from the requirement to obtain a formal valuation and seek minority shareholder approval for the FT Offering on the basis that the fair market value of the participation by related parties in the FT Offering is less than 25% of the Company’s current market capitalization.

About Red Canyon Resources

Red Canyon Resources Ltd. (CSE: REDC) is a technically-driven, discovery-focused mineral exploration company exploring North America’s top copper jurisdictions.  The Company’s goal is to make impactful copper discoveries and has a portfolio of 100%-owned copper and copper-gold porphyry exploration projects.

The 100%-owned Kendal copper project in west-central British Columbia is a priority project for the Company.  The 2026 exploration program including an independent vectoring study, expanded geochemical surveys and a 3DIP geophysical survey has been completed.

Recent work on Company’s 100%-owned Osiris project in central British Columbia has outlined new high-priority areas (see news releases September 14, 2026, and August 14, 2026). Fall exploration work is ongoing including, initial diamond drilling at several Nautilus area targets.

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

For more information, please visit the Company's website at www.redcanyonresources.com.

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 at www.nqcapitalgroup.com.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this press release.

FORWARD-LOOKING STATEMENTS

This news release includes certain forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the FT Offering, the use of proceeds from the FT Offering, and other future plans and objectives of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as “pro forma”, “plans”, “expects”, “may”, “should”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “potential” or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, failure to obtain CSE acceptance of the FT Offering, inability to use the proceeds from the FT Offering as expected, and risks associated with mineral exploration, including the risk that actual results and timing of exploration and development will be different from those expected by management, as well as those factors discussed under the heading “Risk Factors” in the Company’s prospectus dated October 12, 2023 and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company’s profile on the SEDAR+ website at www.sedarplus.ca.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements, except as otherwise required by law.

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