Canary Gold Corp. Identifies New Outcrops Of "Mocururu" At It's Madeira River Project, Rondonia, Brazil

Preliminary panning of samples collected from these new occurrences have resulted in the visual observation of gold particles in concentrates. It is critical to note that visual gold is a qualitative observation only and does not confirm grade, continuity or economic significance. Additional duplicate and replicate samples are being prepared for analysis at SGS Laboratory in Brazil and for physical examination at Overburden Drilling Management Ltd. (ODM), an internationally recognized Canadian laboratory specializing in heavy-mineral concentrate assessments.

The newly identified outcrops are situated within a belt interpreted by the Company's geological team as a zone exhibiting the most favourable geological characteristics observed to date adjacent to the right bank of the Madeira River. The integration of these discoveries, alongside ongoing data collection efforts, continues to support the Company's hypothesis that sediments prospective for gold, originating from Andean erosion, have accumulated over time within the Madeira River basin in Rondônia, Brazil.

These datasets underpin Canary Gold's phased exploration strategy and will be further evaluated during the major drilling program scheduled to commence in early 2026 across the Company's extensive tenement holdings (see press release dated December 2nd, 2025).

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Figure 1. Location of the newly identified "Mocururu" outcrops within tenement 886.196/2017. The sample with visible gold is identified by the yellow star (VG) in the zoomed area.

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Figure 2. Visible Gold occurrences in panned concentrate from the newly discovered "Mocururu" samples collected within tenement 886.196/2017 (location is shown in the figure 1).

Mark Tommasi, President of Canary Gold commented "Our team continues to uncover encouraging indications of a gold-bearing sedimentary system across our land package. These new Mocururu discoveries fit directly into our broader exploration strategy and provide further justification for the significant drill campaign we have planned for early 2026."

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., Executive Director of Canary Gold Corp., who is a "Qualified Person" as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Smith is not independent of the Company, as he holds an executive and board position.

Data Verification:
In verifying the scientific and technical information disclosed herein, the Qualified Person has reviewed all available geological logs, field notes, sampling documentation, heavy-mineral concentrate reports, analytical certificates, laboratory procedures, and other relevant technical records associated with the Company's 2025 exploration program. Verification included assessment of sampling methods, chain-of-custody protocols, security of samples from collection through transport to the laboratory, and a review of the analytical methods used by Overburden Drilling Management Ltd. ("ODM"), an independent Canadian laboratory specializing in heavy-mineral evaluation. Where applicable, drill core photographs, stratigraphic profiles, and field observations were compared against laboratory findings to confirm consistency.

Limitations & Stage of Exploration:
The information disclosed herein relates to early-stage exploration results, including heavy-mineral indicator mineral data, reconnaissance sampling, and preliminary geological interpretations. Heavy-mineral analyses and field-based observations do not provide quantitative gold grades and cannot be used to estimate mineral resources. Additional drilling, systematic sampling, and assay verification are required to determine the significance of the geological features described.

Visible Gold Caution:
The Qualified Person notes that visible gold described in this release is a qualitative field observation only. Visible gold does not confirm grade, continuity, or the presence of economic mineralization. Quantitative determination of gold content requires fire-assay analysis and appropriate QA/QC procedures. Early-stage occurrences of visible gold should not be interpreted as indicative of a mineral resource or economic viability.

Exploration Target & Geological Interpretation Caution:
Any reference to potential mineralization, sediment-hosted or paleoplacer systems, or regional metal enrichment is conceptual in nature. There has been insufficient exploration to define a mineral resource, and it is uncertain whether further exploration will result in the delineation of a mineral resource. Geological models, including interpretations of the Mocururu horizon, sediment provenance, placer maturity, and basin-scale transport mechanisms, are interpretive hypotheses based on limited datasets and should not be considered definitive.

Historical or Third-Party Information:
Where the release refers to historical information, academic references, or third-party geological interpretations (including ODM's technical commentary), such data have not been independently verified by the Qualified Person and may not be representative of mineralization within Canary Gold's current tenement boundaries. Historical information is not being treated as current and should not be relied upon until verified by the Company

ABOUT ODM LTD

ODM Ltd is a leading international laboratory domiciled in Canada specializing in heavy-mineral concentrate analysis and sediment provenance studies for mineral exploration programs worldwide.

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 a series of staged exploration expenditures and milestone payments.

In August 2025, the Company further advanced 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 is being satisfied through staged cash and share payments, a portion of which remains to be completed in accordance with the terms of the agreement. 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

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 not 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.

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 future 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 or 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 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 update 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.

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