Canary Gold Corp. Provides Exploration update on Madeira River Project, Rondônia, Brazil
Canary Gold Provides Exploration update on Madeira River Project,
Rondônia, Brazil
Vancouver, British Columbia – May 6th, 2026 – Canary Gold Corp. (CSE: BRAZ; OTCQB: CNYGF; Frankfurt:
K5D) (“Canary Gold” or the “Company”) is pleased to provide an update on its ongoing exploration
activities at its Madeira River Project located in Rondônia, Brazil.
Figure 1: Project Location Map – Madeira River Project, Rondônia, Brazil, showing project area,
proximity to the Madeira River and relative location of gold and Mocururu occurrences reported to
date. Please note that initial drilling results reported here only represents 5% of the total Canary
Tenement package which covers some 80km of strike.
The Company has received analytical results from sa mples collected and concentrated from the first 33
screw auger drill holes completed as part of its inaugural exploration program. To date, the Company has
completed 63 shallow screw auger drill holes totaling 1,289 metres. Above detection (>5 ppb Au) assay
results (range 10ppb and 109ppb Au) were reported f rom 6 widely spaced holes drilled within the
footprint of and approximately 5km x 10km area init ially targeted as a potential paleochannel system
based on interpretation of available radiometric – remote sensing and topographic data (see figure 5).
The reported gold values are isolated and discontin uous in nature and are not currently indicative of
continuous mineralization or economic concentration s. These initial analytical results confirm the
presence of gold, previously identified visually in initial pan concentrate samples from shallow, immature
sand- gravel horizons infilling the newly identified, potentially extensive paleochannel system target area
extending some 10km east of the active Madeira river system (see figure).
Figure 2: Sampling and Gold Evidence – Photographs of representative gravel/cuttings and pan
concentrate samples showing observed gold grains
The company is prioritizing the drill targeting of deeper, more mature, coarser sand – gravel sedimentary
horizons (characterized by rounded quartz clasts, i ron enrichment and the presence of ilmenite grains)
infilling deeper sections within the paleochannel t hat could potentially host higher gold concentratio ns.
(see figures 3 and 4)
Figure 3: Conceptual Paleochannel Model – Plan View showing the location of anomalous gold values
reported from screw-auger concentrate samples collected and prepared from coarse sediment
horizons (sand – gravel) within the target paleochannel footprint extending north and eastwards from
the active Madeira River.
Figure 4: Conceptual Paleochannel Model – Schematic Cross-section illustrating shallow gravel horizons
intersected by screw auger drilling and deeper hori zons now targeted by RC – Drilling. (Note
exaggerated vertical scale) – Section estimated to be 120m vertical.
“These initial results are encouraging and provide e arly support for our interpretation of a laterally
extensive paleochannel system at Madeira River. Whi le the program remains at an early stage, the
presence of gold within these shallow horizons across a broad area is an important step in advancing our
understanding of the system. With RC drilling now u nderway, we are focused on systematically testing
the deeper, more mature sedimentary horizons to bet ter evaluate the potential of this target. ”
— Mark Tommasi, President
The Company has commenced a reverse circulation (“RC”) drilling program following the arrival of an RC
drill rig on site. This program is designed to defi ne the geometry and lateral extent of the paleochan nel
system and to test deeper horizons, potentially dow n to granite bedrock, where higher maturity
sedimentary layers are interpreted to occur.
The Company notes that active and historical gold p roduction from the nearby Madeira River, located
approximately 10 km west of the Project, provides r egional geological context for the presence of gold ;
however, such production is not necessarily indicative of mineralization on the Company’s property.
Exploration activities completed to date represent approximately 5% of the Company’s planned
exploration program and have been conducted over a limited portion of an interpreted 80 km prospective
strike length. As such, the Company emphasizes that its exploration program remains at an early stage.
Figure 5: Geological Interpretation the Canary Tene ments from remote sensing and radiometric data
sets. The broad target areas are separated into yellow - ``Paleochannel`` and orange ``Mocururu``.
Qualified Person and Technical Disclosure
Sampling, Analytical Methods and QA/QC
To date, the Company has completed 63 shallow screw auger drill holes totaling 1,289 metres. Following
geological logging of recovered drill core, 1-metre interval samples are selected from core intervals
intersecting targeted coarser-grained sand and gravel horizons within the sedimentary profile.
A half-core sample is collected from each selected interval, from which a concentrate is prepared using a
centrifuge at the Company’s sample preparation facility in Porto Velho, Rondônia. Centrifuge
concentration is used to enhance the recovery of fine gold particles from unconsolidated sediments.
The centrifuge process is used as a sample preparation step and does not represent a metallurgical
recovery process. The resulting concentrates are submitted to SGS Laboratory in Vespasiano, Belo
Horizonte, Minas Gerais, for low-detection fire assay analysis (FAA505) using a 50-gram aliquot.
The Company continues to implement industry-standard quality assurance and quality control (QA/QC)
procedures, including the insertion of blanks, standards, and duplicate samples, as part of its analytical
program.
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., a Qualified Person as defined by National Instrument 43-101 – Standards
of Disclosure for Mineral Projects .
Mr. Smith has previously visited the Company’s project areas in Brazil and is familiar with the regional
geology and exploration activities. He is not continuously present on site and relies on data, geological
interpretations, and sampling information provided by site-based qualified personnel. He has reviewed
the available technical information and considers it to be reliable and suitable for the purposes of this
disclosure.
Mr. Smith has verified the data disclosed in this news release, including sampling, analytical, and test
data, through review of laboratory reports, QA/QC results, and supporting technical documentation.
Mr. Smith is not independent of the Company within the meaning of National Instrument 43-101, as he
serves as Executive Chairman of Canary Gold Corp.
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 t enements 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) ro yalty 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 St ate — 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 of ten 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, inclu ding, without
limitation, statements regarding the Company ’s planned exploration programs and drill programs a nd 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 could differ materially from those
anticipated in such statements. Important factors t hat could cause actual results to differ materially from the
Company ’s expectations include but are not limited to the r isks detailed in the Company ’s Prospectus and in the
continuous disclosure filings made by the Company w ith securities regulations from time to time. The r eader is
cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect.
Events or circumstances may cause actual results to differ materially from those predicted, as a resul t of numerous
known and unknown risks, uncertainties, and other f actors, 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-l ooking statements contained in this news release ar e 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 wi ll update or revise publicly any of the included fo rward-looking
statements only as expressly required by applicable law.
No securities exchange or commission has reviewed o r accepts responsibility for the adequacy or accura cy 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 of fer, solicitation, or sale would be unlawful. The s ecurities of the
Company have not been and will not be registered un der the United States Securities Act of 1933, as am ended (the
“1933 Act”), or any state securities laws and may no t be offered or sold in the “United States” or to “U.S. persons”
(as such terms are defined in Regulation S under th e 1933 Act) unless registered under the 1933 Act an d applicable
state securities laws, or an exemption from such registration requirements is available.