Canary Gold Corp. has mobilized its 2026 exploration program at the Madeira Project, with the first drill rig arriving on site. The company has engaged Geosol to execute a comprehensive, multi-rig drilling campaign focused on defining near-surface mineralization. The program employs a dual-rig strategy combining specialized drilling for geological definition with rapid regional coverage.
The first drill rig utilizes a screw-auger drilling system, a specialized technique optimized for unconsolidated ground conditions. This method is designed to recover high-quality samples from the favorable "Mocururu" geologic horizon and associated prospective gravel beds. The screw-auger program targets definition of high-priority geological zones with approximately 5,000 meters across roughly 100 drill holes, using an initial grid of 200 m x 100 m with flexibility to tighten spacing based on observations and results.
A second Reverse Circulation drill rig is expected to arrive during the second half of January. While the screw-auger program focuses on defining specific near-surface geological units, the RC rig will be deployed to "sweep" the broader land package included in the original agreement with New Frontiers. This phase involves approximately 15,000 meters across roughly 300 drill holes using a wide-spaced reconnaissance grid of approximately 2,000 m x 1,000 m to rapidly assess regional geological continuity and identify new priority targets.
In parallel with the drilling mobilization, the company has completed a comprehensive update of its corporate website and investor presentation. These refreshed materials are designed to more clearly communicate the geological framework, exploration strategy, and scale of the company's land position. The updated website at https://www.canarygold.ca reflects the company's transition into an active execution phase, providing shareholders with improved technical context and a more structured overview of exploration objectives.
Mark Tommasi, President of Canary Gold Corp., noted that as the company moves into an active drilling phase, it was important that public-facing materials evolve alongside operations. The updated materials support clear, consistent communication during what is expected to be a very productive year of exploration.
The company also announced it has granted an aggregate of 6,107,500 stock options to certain directors, officers and consultants pursuant to the company's Omnibus Equity Incentive Plan. The options have an exercise price of $0.27 per common share for five years from the date of grant. All securities are subject to a statutory hold period of four months and one day from the date of grant.
The scientific and technical information in the announcement 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. The company emphasizes that information disclosed 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.
Canary Gold holds an option to earn up to a 70% undivided interest in the Rio Madeira Project through staged exploration expenditures and milestone payments. In August 2025, the company 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. 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.
