Canary Gold Extends Deadline and Issues Shares in Connection with Rio Madeira Property Option Agreement at Rondonia, Brazil

To fulfill its second anniversary obligations under the Option Agreement, the Company must, on or before April 1, 2026:

(i) pay an additional $200,000 to New Frontiers;

(ii) issue 800,000 common shares to New Frontiers at an issue price per share of $0.25, representing an aggregate deemed value of $200,000; and

(iii) incur at least $2,500,000 in exploration expenditures (extended to July 1, 2026).

On or before April 1, 2026, the Company will pay $200,000 to New Frontiers and will issue 800,000 common shares to New Frontiers. When issued, in accordance with applicable laws and the policies of the Canadian Securities Exchange, the shares will be subject to a four month hold period expiring on August 2, 2026.

The Company is also pleased to announce that it has reached an agreement to extend the deadline to incur the exploration expenditures to July 1, 2026. All other terms of the Option Agreement remain unchanged.

About 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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