Mr. Wendell Zerb reports

RED CANYON COMPLETES FLOW-THROUGH PRIVATE PLACEMENT

Red Canyon Resources Ltd. has completed its previously announced charity flow-through private placement, issuing 2.58 million charity flow-through units of the company at an issue price of 36.96 cents per charity flow-through unit for gross proceeds of $953,568.

Each charity flow-through unit consists of one flow-through common share of the company and one-half of one common share purchase warrant, with each flow-through share and one-half of one warrant comprising the charity flow-through unit qualifying as a flow-through share within the meaning of Subsection 66(15) of the Income Tax Act (Canada). Each warrant is exercisable into one common share of the company at a price of 30 cents for a 24-month term. The warrant shares issued on exercise of the warrants will not be flow-through shares for the purposes of the tax act.

The proceeds from the charity flow-through offering will be used to incur eligible Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures, as both terms are defined in the tax act and as British Columbia flow-through mining expenditures for the purposes of the Income Tax Act (British Columbia) related to the company's Kendal project and other projects in British Columbia, on or before Dec. 31, 2025, and the company will renounce all the qualifying expenditures in favour of the subscribers of the charity flow-through units effective Dec. 31, 2024. The flow-through critical mineral mining expenditures will be eligible for a federal 30-per-cent investment tax credit for any eligible individual investors and for any individual investor who is resident or subject to tax in the province of British Columbia, the incurred exploration expenses will also be eligible for the 20-per-cent additional tax credit under the Income Tax Act (British Columbia).

All securities issued are restricted from trading until Oct. 14, 2024.

About Red Canyon Resources Ltd.

Red Canyon Resources 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 and aid in the clean energy transition. Red Canyon has a portfolio of 100-per-cent-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 record of success.

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.

We seek Safe Harbor.