Canary Gold Corp. Provides Exploration Update on Madeira River Project
Vancouver, British Columbia — February 19, 2026 — Leads & Copy —
Canary Gold Corp. has provided an exploration update to shareholders regarding ongoing activities at its Madeira River Project in Rondônia, Brazil. The activities are consistent with the Company’s previously announced exploration strategy and work programmes.
Canary has recently commenced a large-scale, systematic drilling programme across its Madeira River tenement package. The Company’s exploration strategy is focused on identifying gold mineralisation that is concealed beneath transported cover, requiring a methodical, data-driven approach. This style of exploration is inherently high-risk, high-reward, and results must be interpreted within the context of an early-stage programme.
Mark Tommasi, President of Canary Gold Corp., stated that this phase of drilling is focused on testing the geological model and building the dataset required to guide future exploration. He added that while the programme remains at an early stage, the information collected to date is consistent with the exploration approach and will be used to progressively refine and prioritize targets.
To date, approximately 300 metres of drilling have been completed from a planned ~20,000-metre drilling programme. At this early stage, the Company cautions that it is too early to determine whether economic mineralisation will be intersected. The initial phase of drilling is designed to test the underlying geological model and collect the data required to progressively refine and prioritise targets.
Results obtained to date are consistent with the exploration thesis previously disclosed by the Company, supporting the geological framework underpinning the Madeira River Project. These outcomes provide confidence that the Company’s targeting approach is appropriate and warrants continued systematic drilling.
The Madeira River Project is located within a broader gold-bearing district that hosts historic and active artisanal (“garimpeiro”) workings, including those at Zélia and Santo Antônio, 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.
The primary objective of the current drilling campaign is to generate a geological dataset that will allow the Company to refine targets and vector towards areas of potential mineralisation. Canary expects that the 2026 drilling programme, 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.
Canary believes it is still in the early stages of unlocking the potential of the Madeira River Project. The Company remains committed to disciplined execution of its exploration strategy and to providing transparent updates as work progresses.
Shareholders are encouraged to refer to previous Company news releases for additional context regarding the exploration model, regional setting and planned exploration activities.
Andrew Lee Smith, P.Geo., Executive Director of Canary Gold Corp., who is a “Qualified Person” as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this release.
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. The total consideration of CAD $1.7 million is being satisfied through staged cash and share payments.
Together, these interests provide Canary Gold with a strategically consolidated land position in the Madeira River region of Rondônia State.
Source: Canary Gold Corp.
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