Canary Gold Corp. has provided an update on exploration activities at its Madeira River Project in Rondonia, Brazil, noting that approximately 300 meters of drilling have been completed from a planned 20,000-meter program. The company emphasized that this early-stage work is designed to test geological models and build datasets to guide future exploration, with results to date being consistent with the exploration thesis previously disclosed.
Mark Tommasi, President of Canary Gold Corp., stated that this phase of drilling focuses on testing the geological model and building the dataset required to guide future exploration. While the program remains at an early stage, the information collected to date is consistent with the company's stated exploration approach and will be used to progressively refine and prioritize targets. The company cautions that it is too early to determine whether economic mineralization will be intersected.
The Madeira River Project is located within a broader gold-bearing district that hosts historic and active artisanal workings, including those at Zelia and Santo Antonio, situated immediately contiguous to the north and south of the company's licences. These workings demonstrate gold endowment within the same regional geological setting being targeted by Canary and continue to support the prospectivity of the Project area. However, mineralization on adjacent or nearby properties is not necessarily indicative of mineralization on the company's Madeira River Project.
The primary objective of the current drilling campaign is to generate a robust geological dataset that will allow the company to refine targets and vector towards areas of potential mineralization. Canary expects that the 2026 drilling program, informed by the results and data collected during the current phase, will be critical in focusing exploration on the most prospective parts of the tenement package. The company acknowledges that exploration of this nature requires patience, with only a small fraction of the planned drilling completed to date.
The scientific and technical information contained in the update 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. Verification included assessment of sampling methods, chain-of-custody protocols, and analytical methods used by Overburden Drilling Management Ltd., an independent Canadian laboratory specializing in heavy-mineral evaluation. Additional information about the company's exploration activities can be found at https://www.canarygold.ca.
For investors and industry observers, this update represents a critical early milestone in what could become a significant gold exploration story in Brazil's Rondonia State. The Madeira River region is considered one of Brazil's most prospective yet underexplored gold provinces, and successful exploration here could contribute to Brazil's growing importance in global gold production. The company's methodical, data-driven approach reflects modern exploration practices that prioritize geological understanding over speculative drilling, potentially reducing long-term exploration risk while requiring significant upfront investment in data collection.
The broader implications of this exploration work extend beyond Canary Gold's specific project. Brazil has emerged as an increasingly important gold producer in recent years, and successful discoveries in underexplored regions like Rondonia could attract additional investment to the country's mining sector. For local communities, responsible mineral development could bring economic opportunities, while for global gold markets, new discoveries help maintain supply to meet ongoing demand. The company's transparent reporting approach, including qualified person verification and clear statements about the early-stage nature of results, sets a standard for responsible disclosure in the mineral exploration sector.
