Red Canyon Resources Ltd. announced it has commenced diamond drilling on its 100% owned Peak Project in central British Columbia. The Company is focused on impactful, value-add exploration to make discoveries of copper and copper-gold deposits in established mineral belts in North America. Peak Project: The Peak property is located in the Cariboo region of south-central British Columbia, approximately 30 km NE of the City of Williams Lake.

Peak is a large, 100% owned 6,560- hectare, strategic land position situated in a copper-gold district with active large scale mining operations and excellent infrastructure. The Project is located approximately 28 km southwest of the Mount Polley copper-gold mine and 20 km southeast of the Gibraltar copper-molybdenum mine. A series of complex magnetic highs and lows spanning over approximately 15km of interpreted Quesnellia Island Arc Terrane have been identified using magnetic inversion modeling and are considered by the Company to potentially be intrusive related features.

Project wide soil sample geochemistry has outlined anomalous areas of copper associated with magnetic features that further enhances the potential that these features and may reflect the presence of porphyry-type intrusions at depth. An IP geophysical survey, which focused on coincident magnetic features with elevated copper in soils, was completed by the Company in 2023. Four of the seven targets tested show IP chargeability highs coincident with elevated copper geochemistry and interpreted intrusion related magnetic features.

The Company's primary drill-ready target is at Peak Central, which represents an area of complex magnetic highs and lows associated with altered and mineralized porphyritic rocks. A 2011 IP survey at Peak Central outlined a large chargeability zone west of outcropping copper bearing porphyritic rocks, which has not been drill tested. The Company has initiated a 1,000m to 2,000m drill program, largely to test geophysical features outlined in the 2011 IP program and interpreted by Red Canyon to potentially represent the central causative intrusion related to peripheral copper mineralization found in outcrops to the east.

This program is fully funded and designed as an initial test program to be potentially followed by subsequent drilling in second half 2024.