Canary Gold Reports Visible Gold in Panned Samples from Initial Air Core Drilling at Madeira River Project, Brazil
Canary Gold Corp. Reports Visible Gold in Panned Samples
from Initial Air Core Drilling at Madeira River Project, Brazil
Vancouver, British Columbia – April 21 , 2025 – Canary Gold Corp. (CSE: BRAZ | Frankfurt: K5D)
(“Canary Gold” or the “Company”) is pleased to announce the successful completion of the first
three (3) reconnaissance air core drill holes from the ongoing 1,000 - metre program at the
Company’s flagship Madeira River Gold Project, located in Rondônia, Br azil. This drilling
represents the first systematic subsurface test of the target ed paleochannel and “Mocururu”
stratigraphic horizons interpreted to be preserved beneath shallow cover. (See the Company’s
previous news release dated April 4, 2025.)
Exploration Highlights
Visible gold grains were recovered through manual panning of drill cuttings derived from split air core
samples from Hole 3, which targets the Mocururu horizon.
This positive visual confirmation of gold from pan concentrates validates the exploration model and
supports the broader potential for gold concentration within preserved paleochannel systems across
the Company’s 68,445 - hectare tenement package .
P anned material and split samples are being processed and will be submitted to SGS Geosol
laboratories in Vespasiano , Belo Horizonte for assay.
Panning protocols and oversight procedures for sample processing were established and monitored by
Rodrigo Mello, FAusIMM, (Qualified Person under 43 - 101) in accordance with CIM Best Practice
Guidelines (2018) .
Figure 1. Visible gold grains from pan concentrate, Hole 3.
Technical Summary
Holes 1 and 2 , drilled 500m apart on an east - west drill fence, encountered ~2 m of soil cover
overlying up to 10 m of oxidized clay - rich silts, followed by a thick sequence of black, water
saturated , fine - grained, organic - rich clay with occasional sandy horizons and sporadic
quartz/chert pebbles. These are interpreted as paleochannel or oxbow lake deposits formed
under stagnant water conditions. Drilling was terminated above the basement interface du e to
depth limitations of the air core rig (Hole 1: 60 m; Hole 2: 38 m).
Hole 3, drilled a further 500m east of hole 2 on the same initial east - west fence, reached a total
depth of 36 m. Below 1 – 2 m of surface soil, the hole intersected ~32 m of oxidized, pale orange
to red - brown, unconsolidated to semi - consolidated fluvial sands and silts, underlain b y a 1 – 2 m
interval of indurated, ferruginized, conglomeratic sandstone at ~22 m depth — interpreted as the
Mocururu duricrust. The hole ended in weathered basement granite from 34 to 36 m.
The Company intends to re - enter these targets with deeper capacity drilling to test the
paleochannel – basement interface, which is considered a high - priority target for gold
concentration.
Sampling Protocol: Air core samples are logged, dried, split, and batched at the Company’s Porto
Velho facility. One quarter of each sample is retained for fire assay; another quarter is used for
panning. The remaining material is stored for reference or f uture analysis. Samples for fire assay
will be shipped to SGS Geosol Laboratories, Vespasiano, Belo Horizonte.
Gold - bearing samples from h ole 3 were visually confirmed through panning of concentrates
prepared under controlled conditions at a secure warehouse. These samples will be further
analyzed by metallic screen fire assay and heavy mineral separation methods.
This work comprises the Phase I exploration program, which includes planned follow - up sonic
drilling (2,000 m) and drone - supported magnetic and tomographic surveys scheduled for late Q2
2025.
Qualified Person Statement and Cautionary Notes
The scientific and technical information 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 verified the information disclosed
through a review of all pertine nt data. Mr. Smith is a director and the Executive Chairman of the
Company.
Manual panning of air core samples was conducted under the direct supervision of Rodrigo
Mello, FAusIMM, also a Qualified Person under NI 43 - 101. While the presence of visible gold
grains is a positive exploration indicator, it is qualitative in nature and not a substitute for
quantitative certified assay results .
No mineral resources or reserves have been delineated to date. The Company cautions investors
that the presence of visible gold does not ensure future economic extraction or a mineral
resource estimate.
About the Madeira River Project
The Madeira River Project covers an extensive area of interpreted preserved paleochannel
systems and gold - bearing duricrust known locally as Mocururu , within the Amazon Basin.
Historical estimates suggest significant gold production from the Madeira River region during the
1980s, primarily through artisanal dredging operations. The current exploration program is
designed to test concealed mineralized h orizons beneath 10 – 20 metres of overburden using
modern geophysical and drilling techniques.
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 staged exploration expen ditures and
milestone payments.
For Further Information, Please Contact:
Canary Gold Corp.
Mark Tommasi, President
Tel: 604 - 318 - 1448
www.canarygold.ca
Field observations, including the presence of visible gold grains recovered by panning from split air core drill samples,
were made under the direct supervision of the Qualified Person. Panning was conducted in accordance with CIM
Exploration Best Practice Guidelines (2018) and is considered a valid field technique for qualitative geological
interpretation. However, the recovery of gold grains through panning is not a quantitative measure of gold content
and should not be interpreted as a proxy for gold grade or used to estimate mineral resources or reserves. No chemical
or certified analytical assays have been received for the samples referenced in thi s release at the time of writing. Until
such assay data is available and reviewed, the observations disclosed herein should be considered preliminary and
exploratory in nature. The Company cautions readers that the presence of visible gold or panned gold grains, while
supportive of the exploration model, does not confirm economic mineralization. Further analytical work, including
certified fire assay and/or metallic screen analys is, is required to determine the presence, continuity, and
concentration of gol d.
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 up date 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.