Goldcana closes $2 million non-brokered private placement

White Rock, British Columbia--(Newsfile Corp. - September 25, 2026) - Goldcana Resources Inc. (CSE: GC) ("Goldcana" or the "Company") is pleased to announce that it has closed its non-brokered private placement of units of the Company (the "Units") for aggregate gross proceeds of C$2,000,000 through the issuance of 8,000,000 Units at a price of C$0.25 per Unit (the "Offering"), previously announced in the news releases dated September 2, 2026 and September 10, 2026.

Each Unit consists of one common share in the capital of the Company (a "Common Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to acquire one additional Common Share at a price of C$0.50 per share for a period of 24 months from the closing date of the Offering.

The Warrants are subject to an acceleration provision whereby, following the expiry of the applicable statutory hold period, if the volume weighted average trading price of the Company's common shares on the Canadian Securities Exchange, or such other Canadian stock exchange on which the common shares are then listed, equals or exceeds C$1.00 for five consecutive trading days, the Company may accelerate the expiry date of the Warrants by issuing a news release and the Warrants will expire on the 15th trading day following the date of such news release unless exercised prior to that date.

The net proceeds of the Offering will be used for mineral exploration activities, including exploration and advancement of the La Sarre Gold Project, as well as for general working capital and corporate purposes, as previously announced in the news release dated September 10, 2026. Goldcana has entered into an option agreement dated August 29, 2026 with the holders of the La Sarre claims under which Goldcana may earn up to a 100% legal and beneficial interest in the Project. Refer to the news release dated September 2, 2026 for more details.

In connection with the Offering, the Company paid finder's fees of C$76,482.00 and issued 305,928 finder's warrants to eligible finders in accordance with applicable securities laws and Canadian Securities Exchange policies. Each finder's warrant is exercisable for one Common Share at C$0.50 until September 25, 2028. The securities issued pursuant to the Offering are subject to applicable resale restrictions, including a statutory hold period in accordance with applicable securities laws. The Offering is subject to final acceptance of the Canadian Securities Exchange. No insiders of the Company participated in the Offering.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.