Canary Gold Corp. Issues Shares Pursuant to Agreement to Acquire Property at Madeira River, Rondônia, Brazil

Canary Gold Issues Shares Pursuant to

Agreement to Acquire Property at Madeira River, Rondônia , Brazil

Vancouver, British Columbia – February 25 , 2026 – Canary Gold Corp. (CSE: BRAZ; OTC: CNYGF; Frankfurt:

K5D) (“ Canary Gold ” or the “ Company ”) announce s that i n connection with the previously announced

purchase agreement (the “ Agreement ”) between the Company and Talisman Venture Partners Ltd.

(“ Talisman ”) dated August 29 , 202 5, the Company has issued a further 1, 5 0 0,000 common shares in its

capital at a price of CAD $0.30 per share , representing the “ Final Payment ” of CAD $450,000 required under

the Agreement .

Pursuant to the Agreement , as previously disclosed in the news release dated August 29, 2025, the

Company acquire d a 100% interest in ten mineral tenements totaling approximately 94,700 hectares

located in the state of Rondônia, Brazil (the “ Property ”) for total consideration of CAD$1,700,000,

satisfied through a combination of cash and shares as follows:

 A cash payment of CAD$50,000 on execution of the Definitive Agreement (paid) ;

 the issuance of 4,000,000 common shares of Canary Gold at a deemed price of CAD$0.30 per

share (for a deemed consideration of CAD$1,200,000) on execution of the Definitive Agreement

(issued on August 29, 2025 ) ; and

 On the date that is 180 days following the execution of the Definitive Agreement (the “ Final

Payment Date ”), at the election of Canary Gold, in its sole discretion, either (A) a further cash

payment of CAD$450,000; or (B) the issuance of CAD$450,000 worth of common shares (the

“ Final Payment ”) , each share to be issued at a price equal to the higher of (x) CAD$0.30 or (y) the

volume weighted average price of the Company’s common shares on the CSE for the 10 trading

days preceding the Final Payment Date.

As part of the transaction, Talisman retained a 1.0% Net Smelter Return (NSR) royalty on all commercial

mineral production from the Property, one - half of which (reducing the NSR to 0.5%) may be purchased

by Canary Gold at any time for CAD$1,000,000.

The shares issued are subject to a four - month hold period expiring June 26 , 202 6 .

About Canary Gold Corp.

Canary Gold Corp. is a Canadian public exploration company focused on the acquisition and advancement

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, Canary further expanded 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 has been satisfied through staged cash and share payments.

Talisman retains a 1.0% net smelter 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 ”, “ believes ” , 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 exploration 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 fu ture events could 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 o r circumstances may cause 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 statem ents 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 i ncluded 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.

Disclaimer

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of

any securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful. The securities of the

Company have n ot been and will not be registered under the United States Securities Act of 1933, as amended (the

“ 1933 Act ” ), or any state securities laws and may not be offered or sold in the “ United States ” or to “ U.S. persons ” (as

such terms are defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state

securities laws, or an exemption from such registration requirements is available.