ORIGINAL: Red Canyon Plans Mobile MT Geophysical Survey at Kendal Project

May 8, 2025

2025-05-08 06:40 ET – News Release

(via TheNewswire)

V ancouver, British Columbia – TheNewswire – May 08, 2025: Red Canyon Resources Ltd. (“Red Canyon” or the “Company”) (CSE: REDC | OTCQB: REDRF) , is pleased to announce that it has engaged Expert Geophysics Surveys Inc. to complete a 258 line-kilometre mobile magnetotelluric (“Mobile MT”) heliborne survey. This survey will cover the entirety of Red Canyon’s Kendal property located in west-central British Columbia. The survey is expected to begin in early June 2025. The Company is focused on impactful, value-added exploration to make discoveries of copper and copper-gold deposits in established mineral belts in North America.

Company Highlights:

The Company controls a portfolio of eight 100%-owned, internally-generated copper and copper – gold projects. The Kendal project is the Company’s priority copper project. In 2024, the first ever drill program at Kendal intersected significant porphyry related mineralization (see news release dated January 13, 2025).
The Company has compiled Kendal surface and drill data from the 2024 program. Vectoring studies to identify the core areas of the Kendal porphyry system are ongoing with expanded plans for additional field studies including geological mapping, geochemistry and geophysics prior to additional drilling this year.
Mobile MT is a leading geophysical technology, which aids in the identification of geologic structures, alteration halos and contrasting lithologies in the subsurface. In addition, potential mineralization from near surface to deeper than one km from surface can be inferred based on specific electromagnetic geophysical signatures.

Wendell Zerb, the Chairman and CEO of the Company, commented: “We expect the Mobile MT data will provide a three-dimensional image of the Kendal project area. Our goal is to use the differences in the electrical conductivity of the various lithologies to assist in mapping the subsurface at Kendal. Furthermore, Mobile MT is known for identifying areas of electrically conductive sulphides potentially linked to mineralized porphyry intrusive centres, and resistive bodies representative of intrusions. Our 2024 first ever drill program at Kendal identified a significant, large scale copper porphyry system at Kendal. Our goal now is to vector into higher grade mineralization at Kendal and we believe Mobile MT is an excellent tool to assist our vectoring initiatives.”

Overview of Projects:

The Company holds a portfolio of eight 100% owned projects in British Columbia, Nevada and Utah. High priority projects are Kendal in west-central British Columbia and Scraper Springs in northeast Nevada.

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Figure 1: Location map of Red Canyon’s 100% owned 1 copper and copper-gold projects.

Kendal Project

Kendal comprises eight 100%-owned mineral claims totalling 3,582 hectares located in west-central British Columbia approximately 25 km northeast of the city of Terrace, a regional infrastructure hub with a well-serviced airport. Infrastructure is excellent with four intersecting highways, hydroelectric power, rail corridors and port facilities approximately 120 km to the west at Prince Rupert. The project has direct road access, only 3.5 km from Highway 16. The project area lies within the traditional territory of the Kitselas First Nation.

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Figure 2: Kendal project location map with Red Canyon claims and approximate outline of planned Mobile MT survey.

In the fourth quarter of 2024, a first ever five-hole drill program at the Company’s Kendal project confirmed the discovery of a new copper porphyry system. All drill holes intersected significant porphyry-style alteration, multi-generational vein sets and highly anomalous copper and moly mineralization (see news release dated January 13, 2025). Based on initial studies focused on vectoring to higher grade mineralization, the target area is open, particularly south and west from the initial drilling.

The extensive mineralized alteration footprint encountered with these drill holes at Kendal indicates a porphyry system with a massive amount of associated fluid flow. This large alteration footprint and corresponding multiple generations of hydrothermal veins gives the Company confidence regarding the scale of the system and its potential to host a higher-grade mineralized core.

Vectoring work by Red Canyon suggests Kendal could have several porphyry centres. Work suggests numerous areas remain open to high grade potential and based on alteration, magnetic susceptibility and vein densities in drill holes RCKD-24-001 and 002, the system is open laterally to the south, southwest and southeast and to depth (Figure 3).

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Figure 3: Kendal orthophoto with copper geochemical footprint and approximate 2024 drill hole traces.

Next steps for the Kendal Project are as follows:

Complete SWIR, petrographic analyses, and physical electrical studies on 2024 core
Commence step out and infill rock, soil and silt geochemistry
Expand geological, structural, vein density, and alteration mapping
Conduct Mobile MT survey and integrate geophysical data with results from 2024 drilling and field work
Finalize new drill targets and prepare for 2025 late summer drill program

Mobile MT – Expert Geophysics Surveys Inc. (Expert)

Mobile MT utilizes an airborne mobile magnetotelluric system to collect magnetic and both resistivity and conductivity imaging from the surface to a depth of one km. This system can provide key information pertaining to source fluid conduits and structures important in mapping the subsurface and targeting mineralization associated with porphyry systems.

Magnetotellurics (MT) is an established electromagnetic geophysical method which provides accurate sub-surface data for reliable geological interpretations. MT measures the earth’s subsurface electrical conductivity using the natural geomagnetic and geoelectric field variations in the earth. MT utilizes the electrical fields generated by lightning discharges from thunderstorms that propagate through the sub-surface. MT is akin to conventional resistivity and electromagnetic surveys but incorporates magnetic fields to further help determine electrical heterogeneities between the earth and the audio frequencies. This technology is known for identifying geological features of interest better than conventional electromagnetic methods.

The planned program at Kendal includes Expert flying 258 line-kilometres of Mobile MT on NNW to SSE lines spanning the entire Kendal project area (Figure 2). Line spacing will be 200 m with planned perpendicular tie lines to assist in data coordination and quality.

The final data processing, colour imaging and mapping will be performed by Expert geophysicists. Preliminary results are expected shortly following the completion of the survey and final results and resulting products are expected within 4 weeks following the completion of the survey. Surveying is planned to commence in early June 2025 and expected to take 3 to 5 days to complete.

About Red Canyon Resources

Red Canyon Resources Ltd. (CSE: REDC | OTCQB: REDRF) is a geoscience-driven, discovery-focused mineral exploration company focused on exploring North America’s top copper jurisdictions. The Company’s core goal is to make impactful copper discoveries to benefit all stakeholders. Red Canyon has a portfolio of 100% owned copper and copper-gold porphyry exploration projects. The Company’s technical team consists of experienced geoscientists with diverse capital market, small cap and major mining company backgrounds, and a track record of success.

For more information, please visit the Company’s website at www.redcanyonresources.com .

Red Canyon is part of the NewQuest Capital Group which is a discovery-driven investment group that builds value through the incubation and financing of mineral projects and companies. Further information about NewQuest can be found on the company website at www.nqcapitalgroup.com .

1 ’ Red Canyon has three projects subject to option earn in agreements whereby the Company can earn into 100% of the project.

On Behalf of the Board of Directors

Wendell Zerb, P. Geol

Chairman and Chief Executive Officer

+1 (604) 681-9100

[email protected]

For further information, please contact:

Brennan Zerb

Investor Relations Manager

+1 (778) 867-5016

[email protected]

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this press release.

Qualified Person :

The technical information contained in this update has been reviewed and approved by Wendell Zerb, P. Geol, a “Qualified Person” (“QP”) as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Zerb is not independent by reason of being the Chairman, President and CEO of the Company.

Forward-Looking Statements:

This news release includes certain forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding future capital expenditures, exploration activities and the specifications, targets, results, analyses, interpretations, benefits, costs and timing of them, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as “pro forma”, “plans”, “expects”, “may”, “should”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “potential” or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, risks related to the anticipated business plans and timing of future activities of the Company, including the Company’s exploration plans and the proposed expenditures for exploration work thereon, the ability of the Company to obtain sufficient financing to fund its business activities and plans, the ability of the Company to obtain the required permits, changes in laws, regulations and policies affecting mining operations, the Company’s limited operating history, currency fluctuations, title disputes or claims, environmental issues and liabilities, as well as those factors discussed under the heading “Risk Factors” in the Company’s prospectus dated October 12, 2023 and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company’s profile on the SEDAR+ website at www.sedarplus.ca.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements, except as otherwise required by law.

https://www.redcanyonresources.com/