Canary Gold intersects paleochannel system at Madeira River
(TheNewswire)
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Vancouver, British Columbia – June 10, 2026 - TheNewswire – Canary Gold Corp. (CSE: BRAZ; OTCQB: CNYGF; Frankfurt: K5D) (“Canary Gold” or the “Company”) is pleased to provide an update on ongoing exploration activities at its Madeira River Gold Project located in Rondônia State, Brazil.
The Company reports that recent deeper drilling has intersected significant vertical intervals, up to 20 metres thick, of targeted mature coarse sediments, including gravels and sands, which support the Company’s interpretation of a large-scale paleochannel system associated with the Madeira River. Based on drilling completed to date, the Company interprets the paleochannel to extend across an area measuring approximately 7 kilometres by 5 kilometres, eastward from the present-day Madeira River system (Figures 1 and 2).
To support and strengthen the technical team, the Company has engaged Clara Maria Lamus Molina, an internationally recognized geologist-engineer and specialist in the evaluation and sampling of alluvial gold deposits.
Ms. Molina brings over 20 years of specialized technical expertise in the sampling, geological evaluation and resource estimation of alluvial gold systems in compliance with NI 43-101 international standards. Ms. Molina has wide experience associated with large-scale producing placer and alluvial operations in South America, including projects operated by Mineros S.A. in Colombia.
The engagement is intended to support the establishment and implementation of robust exploration, sampling, analytical and quality assurance/quality control (“QA/QC”) procedures appropriate for large-scale alluvial gold exploration systems, with particular emphasis on representative sampling in particulate and coarse gold environments.
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Figure 1: Madeira River Project Location Map – Showing Canary’s consolidated tenement position, proximity to the Madeira River and location of the current interpreted paleochannel target and drilling area.
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Figure 2: Zoom of Figure 1 showing the Paleochannel Target Area and current RC-PQ drilling coverage.
The identification of the paleochannel system follows the Company’s previously announced geological targeting strategy and deeper drilling program, which was designed to evaluate more prospective horizons interpreted to occur stratigraphically beneath the shallow, immature sand and gravel sequences previously identified across the Project area.
To date, the Company has completed approximately 21 reverse circulation (“RC”) drill holes on an approximate 1-kilometre spaced grid, together with a further 14 PQ-diameter drill holes on approximately 250 metre spaced infill sections within selected target areas (Figure 2). Analytical results from the current drilling program remain pending and will be reported once received, compiled and reviewed.
As presented above, deeper drilling has penetrated to vertical depths of up to 75 metres and intersected sedimentary units interpreted by the Company to form part of a large-scale paleochannel system associated with the Madeira River across an area measuring approximately 7 kilometres by 5 kilometres. The paleochannel system includes mature sedimentary horizons up to 20 metres in thickness consisting of rounded quartz pebble gravels and sands hosted within a ferruginous matrix containing ilmenite and organic material (carbonized wood fragments), as well as harder indurated ferruginous horizons interpreted to represent possible remnant Mocururu (Figure 3).
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Figure 3: Coarse gold bearing gravels recovered from active dredging operations in the Madeira River (Left Image) compared with coarse gravels recovered from Canary Drill hole PQ-011 (Right Image). Photos show rounded quartz pebble gravels, ferruginous and ilmenite-bearing matrix and organic material (carbonized wood fragments). Similarities in sediment characteristics provide geological context and are not indicative of gold content or economic mineralization.
Ms. Molina will work with Canary’s technical team to:
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review current drilling, sampling and concentrate preparation methodologies;
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assist in the design of representative sampling protocols for coarse gold and alluvial depositional environments;
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evaluate sedimentological and depositional controls on gold concentration;
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support refinement of QA/QC and chain-of-custody procedures aligned with industry best practices;
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assist with geological modelling and future resource evaluation workflows; and
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support the Company’s objective of positioning the Project for a potential future National Instrument 43-101 compliant mineral resource estimate, subject to continued exploration success and the collection of sufficient supporting technical data.
Mark Tommasi, President of Canary Gold, commented:
“The engagement of a specialist alluvial gold consultant is a direct response to the technical progress we are seeing at Madeira. As our drilling continues to define what we interpret to be a large-scale paleochannel system, it is important that we build the sampling, QA/QC and geological evaluation framework correctly from the outset.”
Mr. Tommasi continued:
“Alluvial and paleochannel-hosted gold systems require careful attention to sample representativity, gold particle size distribution, sedimentary architecture and depositional controls. This engagement strengthens our technical team and supports our objective of advancing Madeira in a disciplined manner toward the standards required for future resource evaluation work.”
The Madeira River Project covers approximately 80 kilometres of prospective tenure east of the Madeira River in an area with a long history of historic and active artisanal gold dredging operations. Current exploration activities by the Company have tested only a limited portion of the broader land package.
Canary continues to advance drilling programs focused on defining the geometry and extent of interpreted paleochannel systems and identifying sedimentary environments considered favorable for potential gold concentration.
Canary’s current technical work is focused on improving the Company’s understanding of the stratigraphy, sedimentology and geometry of interpreted paleochannel systems within the Madeira River Project area.
Particular attention is being given to coarser-grained sand and gravel horizons, iron-enriched intervals, heavy mineral-bearing horizons and deeper, more mature sedimentary layers that may represent favorable depositional environments for gold concentration.
As part of the consultant’s engagement, the Company intends to further review and, where appropriate, enhance its sampling, sample preparation, QA/QC and chain-of-custody procedures for alluvial gold exploration environments.
The Company cautions investors that exploration at Madeira remains at an early stage. No mineral resource has yet been defined, and there can be no assurance that continued exploration will result in the delineation of an economic mineral deposit.
Sampling, Analytical Methods and QA/QC
The Company continues to review and refine its sampling and analytical procedures as exploration progresses. Following geological logging of recovered drill material, samples are selected from intervals intersecting targeted coarser-grained sand and gravel horizons within the sedimentary profile.
Where applicable, concentrate samples are prepared using centrifuge concentration at the Company’s sample preparation facility in Porto Velho, Rondônia. Centrifuge concentration is used as a sample preparation step to enhance the recovery of fine gold particles from unconsolidated sediments 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 using method FAA505 on a 50-gram aliquot.
The Company inserts certified reference materials, blanks and field duplicates at regular intervals to monitor analytical accuracy and precision.
The consultant’s review is expected to assist the Company in refining future sampling protocols, QA/QC procedures and technical workflows applicable to alluvial gold and coarse gold environments.
Qualified Person and Technical Disclosure
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. While not continuously present on site, Mr. Smith has reviewed drilling, sampling, QA/QC and geological information and is satisfied that the information has been collected and reported by site-based personnel in accordance with industry standard practices.
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.
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 tenements 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) 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
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.
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.
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