Goldcana Resources Inc. (CSE: GC) (FSE: 2Y9) is pleased to announce that, further to its news release dated October 16, 2026, it has closed its previously announced non-brokered private placement of 2,000,000 flow-through common shares in the capital of the Company at a price of CAD $0.50 per Flow-Through Share, for aggregate gross proceeds of up to CAD $1,000,000.

Each Flow-Through Share will consist of one common share in the capital of the Company. The Flow-Through Shares issued pursuant to the Private Placement are subject to a four-month and one day hold period under Canadian securities laws that expires on February 24, 2027.

The gross proceeds from the Private Placement will be used for exploration expenditures on the La Sarre property, as previously announced in the Company’s news release dated September 30, 2026. The Company will incur “Canadian exploration expenses” as defined in subsection 66.1(6) of the Income Tax Act (Canada) and “flow-through critical mineral mining expenditures” as defined in subsection 127(9) of the Income Tax Act (Canada).

In connection with the Private Placement, the Company paid aggregate cash finder’s fees of CAD$70,000 and issued an aggregate of 140,000 non-transferable finder’s warrants (the “Finder’s Warrants”) to eligible arm’s length finders in accordance with applicable securities laws and Canadian Securities Exchange policies. Each Finder’s Warrant is exercisable into one Common Share at a price of CAD $0.50 per Common Share for a period of 24 months from the date of issuance.

About Goldcana Resources Inc.:

Goldcana Resources Inc. is engaged in the identification, acquisition, exploration and development of mineral resource projects.The Company holds the exclusive option to acquire a 100% interest, subject to net smelter returns royalties ranging from 2% to 3%, in the Triple F Gold Project, which consists of eight mineral claims covering approximately 851 acres located in the Nicola and Vernon Mining Divisions, British Columbia approximately 28 kilometres northwest of Kelowna.

About the La Sarre Gold Project:

The La Sarre Gold Project is a district-scale mineral exploration property located in the western Abitibi Greenstone Belt of Québec. The Project comprises approximately 48,615 hectares across 866 Exclusive Exploration Rights and benefits from year-round access through Highway 111, nearby communities, hydroelectric power and proximity to established mining-service centres including Rouyn-Noranda and Val-d’Or.