Red Canyon Resources Ltd. announced the commencement of the inaugural diamond drilling campaign at its Ping South copper-gold project in central British Columbia, one of eight 100% owned copper and copper-gold projects. This initial program will drill test up to three interpreted Alkalic copper-gold porphyry targets identified using a combination of Mobile Metal Ion (MMI) geochemistry, airborne magnetics and Induced Polarization (IP) geophysics. Summary Highlights: Diamond drilling will initially test up to three Alkalic copper- gold porphyry targets based on favourable elevated MMI copper geochemistry associated with interpreted intrusive centres with coincident magnetic and IP chargeability highs; The Ping South project is within a largely till covered and therefore relatively underexplored area of the favourable Quesnellia Island Arc Terrane that occupies much of the east central area of British Columbia and is host to several of the province's copper mines;.

Infrastructure is considered excellent with a network of all season and secondary active forestry roads to access the project area; and. The Company has engaged Apex Diamond Drilling Ltd. out of Smithers, British Columbia, to complete up to 750m of diamond drilling at Ping South. The Ping South property is located approximately 50 km northwest of the City of Prince George, British Columbia, and comprises five contiguous mineral claims covering 4,427 hectares.

The Property lies within the early Mesozoic-aged Quesnellia Arc Terrane which hosts numerous deposits of porphyry gold-copper style mineralization. Ping South occurs within an area of extensive overlying glacial till that span over 320 km between major deposits at Mount Polley and Gibraltar mines approximately 220 km to the south, Mount Milligan mine, and Kwanika deposits approximately 100 km to the north. The Company believes this underexplored areaof the Quesnellia Terrane presents a significant opportunity to use advanced geoscience to identify new copper deposits masked by the till cover.

The Ping South area is within an elevated magnetic portion of a 25 km long northwest-trending positive magnetic feature. The feature is also partly correlative with the western margin of a 90 km by 15 km north-trending gravity high that is co-spatial with the western margin of a conductivity (VTEM) low. These coincident geophysical features share comparable characteristics to regional geophysical responses from several British Columbia copper deposits.

Access to the property is excellent via a well-maintained logging road network. Main haul roads run to the north and south of the Ping South claims. Previous exploration conducted on the property includes MMI soil geochemistry, a project-wide aeromagnetic survey, and IP geophysics. The Company has compiled data from these surveys and has identified multiple targets that may represent copper porphyry intrusive rocks.

These targets have never been drill tested. Initial drilling at Ping South will target favorable elevated MMI copper geochemistry related with interpreted intrusion related magnetic features with coincident IP chargeability highs. The Company plans to test up to three of these targets in this first pass drill program.

Target Generation. The Company engaged Fathom Geophysics ("Fathom") to compile and fully assess aeromagnetic data from the 2007 survey and IP data collected in 2008 and 2011 to identify exploration targets for further investigation. Magnetic Vector Inversion (MVI) modeling was completed on the Ping magnetic dataset by Fathom using the UBC MVI software.

High-level intrusions and magnetite-rich alteration related to alkaline porphyry copper systems often form discrete magnetic anomalies. Fathom identified nine possible intrusion related targets at Ping South. In 2023, Fathom used magnetic inversion studies to better characterize and prioritize magnetic anomalies and reviewed historical IP for porphyry related chargeability and resistivity features.