Red Canyon Outlines Drill Plans for Its 100% Owned Osiris Copper-Gold Project
Suite 1210 – 1130 West Pender Street
Vancouver, British Columbia, V6E 4A4 Canada
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Red Canyon Outlines Drill Plans for Its 100% Owned Osiris
Copper-Gold Project
Vancouver, British Columbia, January 26, 2026: Red Canyon Resources Ltd. (“Red Canyon”
or the “Company”) (CSE: REDC | OTCQB: REDRF) is pleased to provide exploration plans for its
100% owned1 Osiris copper–gold project in central British Columbia. Red Canyon has expanded
data compilation using new and historic geochemical and geophysical datasets and has outlined
next steps, including the drill testing of priority targets and plans for additional targets to be
upgraded with follow-up work in early 2026.
Company Highlights:
• The Osiris project has altered, mineralized porphyry intrusions with the potential to host
multiple copper-gold porphyry centres. Osiris targets are located in the Mesozoic-aged
Quesnellia island arc terrane , 35 km west -southwest of Centerra Gold’s Mount Milligan
copper-gold mine.
• Expanded work programs in 2025 and detailed compilation and modelling work has
solidified exploration plans for early 2026 , including a 2,500 m diamond drill program
testing priority drill targets at the Camp target. Furthermore, an up to 1,500 m of reverse
circulation (“RC”) drill program is planned to test multiple , never tested under-cover
targets.
• Studies, including four-acid geochemistry of historic drill core, new airborne geophysical
surveys (magnetics and radiometrics), magnetic vector inversion (MVI) modeling and re-
interpretation of historic IP geophysics, have been completed and compiled. This work
highlighted additional targets for drill testing and follow-up exploration.
• Historic drill hole 91-2 from the Camp target returned 0.18% copper plus anomalous gold
over 127.4 m. The Company interprets this intercept as being located peripheral to the
central part of a copper-gold porphyry system. The Camp target is open laterally and at
depth and is our top priority drill target for early 2026.
• The Company is progressing with plans for additional work at the Acheron project at
Inzana and at our Kendal porphyry copper discovery in west -central British Columbia.
Scraper Springs in Nevada is also drill ready with multiple copper-gold drill targets in one
of the world’s largest hydrothermal alteration systems.
Wendell Zerb, the Chairman and CEO of the Company, commented: “The Inzana area , which
hosts our Osiris project, has become high priority within the overall Red Canyon portfolio. We
recognized this area for its copper–gold potential based on its intriguing geological setting and
underexplored potential. Interpreted large-scale cross-arc structures, recognized fertile geological
terrane, outstanding access and quality historic work have never previously been followed-up with
new modern geoscience advances. Modeling has refined priority copper-gold porphyry targets at
the Camp target and several new, never drill tested targets are in queue for follow-up work. We’re
excited to drill test the Camp target based on our new exploration perspectives of these important
historical results, including a drill intercept of 12 7.4 metres grading 0.18% Cu. Based on other
well-documented alkalic copper -gold mineral sy stems, including the Cadia Ridgeway mineral
system, we believe this historic drill intercept could be peripheral to economic copper–gold grades
at Camp.”
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Overview of Red Canyon Projects:
The Company holds a portfolio of seven 100% owned1 projects in British Columbia and Nevada.
High priority projects are Kendal in west-central British Columbia, Inzana (Osiris and Acheron) in
central British Columbia and Scraper Springs in northeast Nevada . The Company continues to
review new early stage to advanced stage mineral projects within the Western United States and
British Columbia.
Figure 1: Location map of Red Canyon’s 100% owned 1 copper and copper-gold projects.
Inzana Project Area:
The Inzana project area is located in central British Columbia, approximately 60 km northwest of
the district municipality of Fort St. James and 35 km west-southwest of Centerra Gold’s Mount
Milligan Cu-Au mine (Figure 2). The Company staked 14,908 hectares of mineral claims within
the Inzana project area that are 100% owned and royalty -free. The Company has also entered
into property option agreements to acquire a 100% interest in an additional two mineral claims at
Osiris and two mineral claims at Acheron, totalling 539 hectares, for total consideration of $48,000
payable over a three-year term. Each two optioned mineral claims at Osiris and Acheron are
subject to a 1.25% net smelter return royalty, of which 100% may be purchased for $2 million at
any time.
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Figure 2: Inzana project area, outlining Osiris and Acheron projects and Camp and Tez targets.
The project area is located within the early Mesozoic -aged Quesnellia island arc terrane that
occupies much of east -central British Columbia and is host to several of the province’s largest
copper mines. The project area is bounded to the west by the NW -trending Pinchi Fault which
juxtaposes older Cache Creek Terrane with the Triassic-Jurassic Quesnellia Terrane. The
Company interprets that a NE-SW cross-arc structure is located on the northern boundary of the
Osiris project area. Cross-arc structures are well documented to be important structural pathways
for the localization of porphyry deposits in arc terranes worldwide.
Red Canyon believes the Osiris and Acheron areas have excellent potential to host potentially
economic copper -gold porphyry systems and that previous work identified alkalic porphyry
alteration and mineralization indicative of peripheral zones to the main porphyry centres. The area
hosts various porphyritic intrusive rocks, anomalous copper, molybdenum and gold geochemistry
as well as magnetite-rich hydrothermal alteration related to alkalic porphyry copper systems. A
series of intermittent work programs spanning over 50 years ha s included geological mapping,
geochemistry, magnetics, IP geophysics and diamond drilling.
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Osiris Project
Figure 3: Osiris project, outlining priority targets for 2026 field work and the Camp target location.
New magnetic data over the Osiris project indicates multiple magnetic features bound to the west
by the Pinchi Fault and adjacent to an interpreted cross-arc structure. Forestry activity in the area
has significantly improved road access throughout the area.
Red Canyon has completed work programs includ ing selective rock, soil and till sample
geochemistry, four-acid geochemistry of historic drill core samples, project-wide airborne
magnetics and radiometrics and Magnetic Inversion Modeling (MVI). Based on these programs
several new zones of interest (Figure 3) have been identified for follow up.
The Company ’s 2026 field plans anticipate selective IP and EM geophysics, RC drilling and
diamond drilling targets at Camp, and possibl y recently identified under -cover targets. The
Company has received a Mines Act permit to conduct exploration at Osiris.
Osiris Magnetic Inversion Modeling
Recent work by Red Canyon included project -wide airborne magnetics and radiometrics
completed by Precision Geophysics. The Company used Fathom Geophysics to expand the study
details, completing standard data filtering and MVI modeling. In addition, Fathom selectively
reviewed pipe modelling of specific targets to determine depth to source to refine drill hole
planning. These studies have outlined several new targets for follow up.
The Camp target is modeled depicting a highly magnetic body (mapped as an altered biotite
feldspar porphyry). A rimming intrusive and altered/mineralized porphyritic andesite or augite
porphyry body is interpreted as a remanent magnetic feature. The interpreted intrusive complex
expands to depth and trends west -southwest merging with a new ly identified undercover target
area called Twin Peak s (Figure 4). Geophysical modeling shows a series of smaller pipe-like
bodies, possibly porphyry intrusions, coming from the larger interpreted causative intrusion at
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depth. Depth to source studies on two of the pipe-like intrusions model the top of the intrusions at
approximately 90m and 130m below surface. Selective basal till sampling completed in 2025 by
Red Canyon show broadly anomalous copper and moly geochemistry associated with this area.
Exploration plans in early 2026 include IP geophysics, RC drilling and possible diamond drilling.
Figure 4: MVI Camp and Twin Peaks on magnetic images.
MVI modeling of the Osiris West area has outlined two large-scale magnetic zones of interest,
the Nautilus and Rhino zones host notable magnetic features highlighted by MVI modeling. The
Nautilus target area is a circular magnetic feature spanning approximately 3 km by 3 km bounded
to the west by the Pinchi fault and to the north by an interpreted west -southwest trending cross-
arc structure (Figures 3 and 5). The MVI studies identified multiple, near-surface magnetic pipe-
like features, interpreted as possible porphyry intrusions originating from a larger magnetic body,
possibly the causative intrusion at depth. Depth -to-source studies on these possible pipe-like
intrusions model the top of the intrusion at approximately 50m below surface. Exploration plans
in early 2026 include IP geophysics, RC drilling and possible diamond drilling.
The Rhino target is a north -trending linear magnetic feature spanning approximately 2 km by 5
km also bounded to the west by the Pinchi fault and to the north by the interpreted west-southwest
trending cross -arc structure ( Figures 3 and 5). The MVI studies identified multiple shallow
magnetic pipe-like features, interpreted as possible porphyry intrusions, coming from a larger
magnetic body, possibly the causative intrusion at depth. Geophysic al modeling also identified
possible west-northwest structures linking the Nautilus and Rhino target areas. Several secondary
targets have be en identified along this trend. Exploration plans in early 2026 include IP
geophysics, RC drilling and possible diamond drilling.
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Figure 5: Magnetic Inversion Modeling of Nautilus and Rhino target areas.
Camp Copper-Gold Porphyry Target
The Camp target is associated with a 1.5 km by 2.0 km NNW-trending magnetic high (Figures 3,
4 and 6). Previous work suggests the magnetic high feature is due to introduced highly oxidized
alkalic intrusions and associated hydrothermal magnetite.
Figure 6: The Camp zone target outlining airborne RTP magnetics, rock and soil geochemistry, historical
drill hole locations and for scale the comparative size footprint of Cadia – Ridgeway alkalic Au-Cu deposit.
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Figure 7: N NW – SSE cross-section outlining historical drill holes with Cu and Au histograms at Camp
target.
A series of historical drill holes at Camp (Figures 6 and 7) intersected porphyry-style alteration
plus copper and gold mineralization indicative of an alkalic porphyry system. Drill holes 91-2 and
91-6 ended in mineralization with grades of copper and gold increasing to depth. In addition,
porphyry-style veining and potassic alteration are interpreted as increasing down hole towards
the west (Figure 7).
Historic drill hole 9 1-2 from Osiris returned 0.18% copper with anomalous gold over 127.4 m
starting from 25.3 m. Based on the footprint of other known alkalic porphyry deposits worldwide,
the Company believes the target area remains open to vector into a potential higher-grade core
to the system. As an example, the high grade Cadia Ridgeway alkalic copper gold deposit in New
South Wales, Australia is generally a vertically extensive body with an approximately 225 m by
225 m diameter. A Newcrest pre-discovery drill hole (NC371) within 150 m of the discovery hole
at Cadia Ridgeway graded 0.10% copper over 118 m (Figure 8), comparable to the copper values
in 91-2.
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Figure 8: *Historic drill plan of Cadia Ridgeway alkalic Au-Cu deposit New South Wales, Australia. Pre -
discovery drill hole NC371 was drilled 150 m east of the high-grade discovery drill hole NC498.
The Company believes the hydrothermal system at Camp is open along the magnetic high as it
trends NNW to SSE (Figure 6). The underlying rocks along the magnetic high trend are the
potential source of the elevated copper in soil/till geochemistry glacially dispersed to the north
(Figure 6). In addition, previous drill holes testing this margin are highly altered and mineralized
augite porphyritic rocks or hornfels sediments. Quartz vein s with increasing sericite and biotite
alteration downhole are common, suggesting a possible trend toward the potassic core of the
system. IP charge ability and resistivity data indicates that highly chargeable zones could
potentially correlate with altered intrusions or graphic sediments in parts of the Camp area. The
north-trending high resistivity feature is interpreted as a potassic altered zone potentially
correlating with the more central part of the porphyry system (Figure 9).