Red Canyon Resources Proposes $1 Million Flow-Through Private Placement to Fund Exploration

Vancouver, British Columbia — October 1, 2026 — Leads & Copy — Red Canyon Resources Ltd. announced today its proposal for a non-brokered flow-through private placement aimed at raising up to $1,000,000. The offering involves the issuance of up to 5,000,000 flow-through units at a price of $0.20 per unit.

Each flow-through unit will comprise one flow-through common share and a half of a common share purchase warrant. Each warrant will be exercisable into one common share at $0.30 for a period of 18 months. The flow-through shares are designed to qualify as “flow-through shares” under Canadian tax legislation, while the shares issued upon warrant exercise will not.

Proceeds from the private placement are designated for eligible Canadian exploration expenses, specifically qualifying as “flow-through critical mineral mining expenditures” related to the Company's Kendal and Osiris projects, as well as other eligible projects in British Columbia. These expenditures must be incurred on or before December 31, 2027. Red Canyon Resources plans to renounce these expenditures to the subscribers by December 31, 2026. The expenditures are anticipated to qualify for a federal 30% investment tax credit for eligible individual investors, with an additional 20% tax credit available from the Province of British Columbia for individuals resident or subject to tax in the province.

The completion of the flow-through private placement is contingent upon several conditions, including approval from the Canadian Securities Exchange (CSE) and the acquisition of all necessary regulatory and other approvals. All securities issued will be subject to a statutory four-month-and-one-day hold period. Finders' fees may be paid in connection with the offering, consistent with CSE policies.

Participation by directors and officers of the Company in the offering will be considered a “related party transaction” under Multilateral Instrument 61-101 (MI 61-101). This participation is expected to be exempt from the formal valuation and minority shareholder approval requirements stipulated by MI 61-101.

The offered securities have not been registered under the United States Securities Act of 1933, as amended, or applicable state securities laws. Consequently, they may not be offered or sold to persons in the United States or to U.S. persons, absent registration or an applicable exemption. Offers and sales within the United States will be restricted to institutional accredited investors and qualified institutional buyers. This announcement does not constitute an offer to sell or a solicitation of an offer to buy securities in any jurisdiction where such activities would be unlawful.

Red Canyon Resources Ltd. is a mineral exploration company focused on discovering copper deposits in North America. The Company's strategy centers on making significant copper discoveries and it holds a portfolio of 100%-owned copper and copper-gold porphyry exploration projects. The Kendal copper project in west-central British Columbia is a key project, currently undergoing a 3DIP geophysical survey following recent exploration program completion. At the Osiris project in central British Columbia, new high-priority areas have been identified, with initial diamond drilling planned for the EV and Nautilus targets this fall.

The Company’s technical team possesses extensive experience in geoscience and capital markets, with a history of successful discoveries. Red Canyon Resources is also part of the NewQuest Capital group, an investment company focused on incubating and financing mineral projects and companies.