Red Canyon Resources Initiates Diamond Drilling at Nautilus Copper-Gold Target

Vancouver, British Columbia — October 8, 2026 — Leads & Copy — Red Canyon Resources Ltd. announced today the commencement of its inaugural diamond drill program at the Nautilus copper-gold target, situated within the company's wholly-owned Osiris Project in central British Columbia. This program is designed to explore high-priority targets identified through a comprehensive integration of project-wide magnetic and induced polarization geophysics, anomalous copper and porphyry-indicator geochemistry, and geological data gathered from recent auger drilling.

The Nautilus target is characterized by a substantial magnetic feature spanning approximately 3.5 by 3.5 kilometers. Magnetic Vector Inversion (MVI) modeling has revealed multiple pipe-like magnetic features within this area, interpreted as potential porphyry intrusions, suggesting the presence of multiple porphyry copper centers.

The initial drilling campaign will concentrate on two key target areas: Nautilus Prime and Nautilus North. Nautilus Prime is distinguished by a magnetic feature that aligns with a high IP resistivity and chargeability zone, further supported by anomalous copper-in-soil geochemistry. Nautilus North combines anomalous copper-in-soil geochemistry and magnetic features with recent auger drilling results that intersected altered hornblende porphyry, including quartz veining with pyrite and chalcopyrite.

Red Canyon Resources has also recently launched an expanded IP survey at Nautilus, encompassing new lines over northern magnetic features and a cross-line survey over Nautilus Prime. An IP inversion analysis of line 2N at Nautilus North has identified several areas where magnetic highs coincide with variable resistivity and moderate to high chargeability. These geophysical indicators correspond with elevated copper-in-soil geochemistry, bolstering confidence for the upcoming drill testing.

Wendell Zerb, Chairman and CEO of Red Canyon Resources, stated, “Nautilus has rapidly emerged as a compelling new exploration target within the Osiris Project. The confluence of a very large and complex magnetic feature, multiple MVI-modelled pipe-like bodies, anomalous copper and porphyry-indicator geochemistry, and coincident IP responses provides a strong foundation for initial drill testing.”

Zerb added, “Of particular interest is the convergence of these various exploration vectors at Nautilus Prime and Nautilus North. Our first-pass drilling is designed to initially test these two priority areas for porphyry related copper and gold mineralization. It is very exciting to test a dynamic target like Nautilus, where so many key exploration vectors align, suggesting excellent discovery potential.”

The Osiris Project is located in central British Columbia, approximately 60 kilometers northwest of Fort St. James and 35 kilometers west-southwest of Centerra Gold's Mount Milligan copper-gold mine. The project area benefits from excellent access via primary and secondary forestry roads. Red Canyon Resources holds mineral claims totaling 27,114 hectares within the broader Inzana area.

Geologically, the Osiris Project is situated within the early Mesozoic-aged Quesnellia island arc terrane, a region known for hosting some of British Columbia's largest copper and copper-gold deposits. The project area is bordered to the west by the Pinchi Fault and includes interpreted cross-arc structures that the company believes could be significant pathways for porphyry system emplacement.

Through various exploration methods, including airborne magnetic and radiometric surveys, MVI modeling, soil geochemistry, IP geophysics, and auger drilling, Red Canyon Resources has identified several priority targets at Osiris, including Camp, Nautilus, EV, Twin Peaks, and Rhino.

At Nautilus Prime, multiple exploration datasets converge, associated with a pipe-like magnetic high and a coincident IP response exhibiting elevated resistivity and chargeability. The company views these overlapping porphyry vectors as a compelling copper-gold porphyry drill target. Preliminary portable x-ray fluorescence (pXRF) geochemical results from surrounding soil samples show anomalous copper and porphyry-indicator elements.

Additionally, two recent auger holes drilled at the northeast end of Nautilus intersected altered hornblende porphyry, with one hole also containing quartz veins with pyrite and chalcopyrite. These findings provide direct geological evidence of altered and mineralized porphyritic rocks beneath the glacial till cover, supporting the interpretation of a porphyry system associated with the northern magnetic and geochemical features.

Red Canyon Resources has also initiated first-pass drilling at the EV target, defined by two large-scale, linear electromagnetic (EM) features identified in regional Geoscience BC VTEM datasets. The higher-amplitude EM feature is among the strongest conductors identified in this region of British Columbia. A completed IP geophysics line across the main EM feature confirmed its conductivity and location.

Fathom Geophysics interprets the main EM anomaly as a steep, east-dipping tabular body. The high amplitude of the EM signature suggests a potential tabular body of massive sulphides or highly graphitic sediments. Diamond drill hole RCOS-26-009, recently completed at EV, intersected a newly recognized, mixed sedimentary package including pyrite-rich carbonaceous sediments with sheared intervals containing highly graphitic surfaces. Handheld pXRF values from core indicated areas of elevated zinc and barium, with variable hydrothermal alteration including zones with quartz veinlets and fine-grained sulphides.

Red Canyon Resources Ltd. is a discovery-focused mineral exploration company operating in key copper jurisdictions in North America. The company's core objective is to make significant copper discoveries and holds a portfolio of 100% owned copper and copper-gold porphyry exploration projects. Red Canyon is part of the NewQuest Capital Group, a discovery-driven investment company focused on incubating and financing mineral projects and companies.

Source: Red Canyon Resources Ltd.