Business
Canary Gold Extends Deadline and Issues Shares in Connection with Rio Madeira Property Option Agreement at Rondonia, Brazil
Vancouver, British Columbia – March 25, 2026 – TheNewswire - Canary Gold Corp. (CSE: BRAZ; OTCQB: CNYGF; Frankfurt: K5D) (“Canary Gold” or the “Company”) is ple
About this update from Canary Gold Corp.
[{"type":"text","content":"Vancouver, British Columbia – March 25, 2026 – TheNewswire - Canary Gold Corp. (CSE: BRAZ; OTCQB: CNYGF; Frankfurt: K5D) (“Canary Gold” or the “Company”) is pleased to announce its intention to meet its payment obligations by the second anniversary of the Company’s Rio Madeira Property Option Agreement (the “Option Agreement”) dated April 1, 2024 between the Company and New Frontiers Gold Mineração Ltda. (“New Frontiers”) (see the Company’s news release dated December 4, 2024 for further information respecting the Option Agreement). 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 tene...