Nobel Provides Update ON Cuprita Project, Announces Plan to Drill Pampa Austral Project, Chile and Changes to Management and Board
NOBEL PROVIDES UPDATE ON CUPRITA PROJECT, ANNOUNCES PLAN TO
DRILL PAMPA AUSTRAL PROJECT, CHILE AND CHANGES TO
MANAGEMENT AND BOARD
TORONTO, ONTARIO April 23, 2026 – Nobel Resources Corp. (TSX – V: NBLC) (the “Company” or
“Nobel”) provides the following update of the initial drill results and planned follow-up work on its
Cuprita (the “Cuprita Project”) and Pampa A ustral (“Pampa A ustral Project” , collectively, the
“Projects”) projects located in northern Chile. Exploration surveys over the past year by Nobel’s
Chilean technical team identified key geological and geophysical characteristics, typically
associated with mineralized porphyry copper systems in this region at Cuprita, and commenced a
diamond drill campaign in January (see the Company’s news release dated March 9, 2026 for further
details).
Nobel also announces that Larry Guy, interim Chief Executive Officer and director of Nobel, and
Damian Lopez, Nobel’s corporate secretary, have resigned from their roles, effective immediately.
Mr. Guy will be replaced as Chief Executive Officer by Vernon Arseneau, Nobel’s Chief Operating
Officer, and Mr. Lopez will be replaced as Corporate Secretary by Wanda Roque. Ms. Roque is an
experienced law clerk in Ontario and has served as corporate secretary to a number of public
companies since 2007.
Nobel has also appointed Denis Archambault to its board of directors, effective immediately. Mr.
Archambault holds a Bachelor of Business (Finance) from the University of Ottawa and previously
held for 25 years, a multitude of professional designations in the Real Estate and Finance Industry,
(CRF, ACoM, Fri) granted by the Real Estate Institute of Ca nada REIC and Institute of Real Estate
Management IREM. Mr. Archambault currently serves on the Finance and Investment Committee of
two pension funds and also serves on the board of directors of a publicly traded tech company based
in Ottawa. He also currently serves on the board of a privately held hotel and multi -use property in
Miami, Florida.
CUPRITA PROJECT
The initial drilling at the Cuprita Project intersected a wide section of mineralized and altered
porphyry in holes 3, 4 and 5. Assay results from holes 4 and 5 returned anomalous values of copper
in the 0.1 % to 0. 2% range from mineralized veins and veinlets stockwork with mainly pyrite. The
Company believes that drilling to date has intersected a pyrite shell which is typical of the edges of
most copper-mineralized porphyry systems.
According to Vernon Arseneau, Nobel’s Chief Operating Officer and incoming Chief Executive
Officer, “This is the first drill campaign of any kind to test this newly identified large porphyry system.
Drilling has confirmed that this is a large , bona fide mineralized porphyry system. We have not yet
identified a high-grade copper zone within it, but the geological components strongly support
conducting further work on the system. We have commenced with additional geophysical and
alteration studies to better target the next phase of drilling.”
Figure 1: Location of the Cuprita and Pampa Austral Projects relative to copper deposits in
the region. Mineralization on adjacent properties is not necessarily indicative of
mineralization on the Projects.
Please note information regarding adjacent properties is provided for context only and is not
necessarily indicative of the mineralization, grade, continuity or potential of the Cuprita Project or
Pampa Austral Project . Readers are cautioned not to place undue reliance on statements about
adjacent properties.
Figure 2: Location of the first -stage drill holes completed during the current campaign at the
Cuprita Project , targeting the northern sector of the lithocap. Drilling results confirm a
continuous and well-developed lithocap, providing key geological vectors toward a potentially
more fertile porphyry center. CUP002 tested shallow trench targets unrelated to the deeper IP
anomaly below the lithocap.
Figure 3: This figure represents a schematic conceptual illustration of the interpreted porphyry
copper system at Cuprita (modified after Halley et al., 2015). It is not to scale and is intended to
illustrate the current geological interpretation based on available drilling, geological mapping,
and geophysical data, including the relative position of the lithocap, alteration zones, and the
potential location of a more fertile porphyry center.
The Company’s drill program at the Cuprita Project is targeting an area centered on an extensive
lithocap that was identified by Nobel geologists by surface mapping on the property during 2025. The
lithocap is interpreted to have developed above a porphyry related hydrothermal system. The
presence of a lithocap is a key signature of mineralized porphyries in this region . At Cuprita, it is
characterized by strongly silicified rock forming a resistant silica-rich matrix with abundant cavities
due to leaching of minerals and pyrite boxwork textures. The lithocap is oriented along a well-defined
structural corridor trending approximately N10° –20°E. Access road construction for the drill
program has created new outcrop exposures of the lithocap . The actual extent is no t known but
extends at least 2 km X 1km under overburden cover. The lithocap is located within a broader soil
anomaly zone defined by Cu values above 200 ppm reaching a maximum of 9,000 ppm Cu in soils.
Table 1. Drill hole data for initial diamond drill campaign at the Cuprita P roject. The area is
anomalous in copper, however geologically, drilling appears to be within a pyritic shell, which
commonly marks the edge of mineralized porphyry systems. All drill holes used HQ core
recovery equipment.
Key geological and geophysical parameters guiding the drill targeting at Cuprita include:
• Located within the Paleocene porphyry copper belt
• Widespread copper mineralization in outcrops (including small scale mines) and extensive
copper geochemistry anomaly
• Presence of an extensive leach cap such as commonly associated with porphyry copper
deposits in this region
• Extensive development of tourmaline breccia zones, a common pathfinder for porphyry
copper projects in the region
• IP anomaly and magnetic low associated with the target area similar to low-pyrite porphyry
copper deposits in the region
• Structural setting similar to major deposits including El Salvador, Cerro Colorado, Spence,
Sierra Gorda, Fortuna – northeast structural corridor crosscut by northwest secondary faults
• Drill holes CUP -003 and CUP -004 confirm a clear vertical alteration zoning beneath the
lithocap, transitioning from argillic to phyllic and propylitic alteration, a characteristic feature
of large porphyry copper hydrothermal systems.
Drill Core Sampling Protocol
Diamond drilling was conducted, using HQ size drill equipment. Sampling protocol is conducted
in a manner that will allow reasonable averaging and statistical analysis of the data for resource
estimation. Standards, blanks and duplicate samples, are used to maintain quality control and
to verify laboratory procedures. Samples were collected using a standard 0.5m to 1m sample
length in the main mineralized zones and a 1m to 2m length in the surrounding rocks or in other
minor intervals of alteration and/or mineralization. Shorter sample lengths were avoided
whenever possible. Core samples were split along the core axis using an electric rock saw, by
the Company’s trained technicians, prior to sampling the core is logged and a high- resolution
photographic record was taken for the files. One standard sample was inserted for each 20 core
samples and one coarse blank, one fine blank and one internal duplicate sample were included
each 50 core samples for QA/QC control. In order to meet NI 43 -101 security standards in
Canada, the samples were placed in rice bags and sealed wit h numbered security tags on site
and then shipped to the laboratory facilities by truck by Company personnel. The custody and
transfer of samples was always the responsibility of Company personnel. Laboratory Analysis All
analyses of the samples were carri ed out by ALS Limited, an independent laboratory with all
regulatory documents and certifications approved and up to date. The sample prep facilities are
based in Copiapo, Chile. The analysis package chosen, for Au, Cu and Co, and a multielements,
trace level method are as follows: ALS CODE Lower Limit Detection Upper limit Detection
Description INSTRUMENT Au -AA23: 0.005 ppm 10 ppm Fire Assay Atomic Absorption
Spectroscopy Cu-AA62 0.001 % 40 % Four Acid Atomic Absorption Spectroscopy Co-AA62 0.001
% 20 % Four Acid Atomic Absorption Spectroscopy ME -ICP61 Four Acid Atomic Emission
Spectroscope.
IP and Remote Sensing Survey Details
Following the completion of the initial phase of drilling at Cuprita, Nobel has contracted Quantec
Geoscience Limited of Toronto, Canada to carry out a total of 23 line km of Pole-Dipole IP survey on
the project. This survey is intended to better define shape and o rientation of the hydrothermal cell
under the lithocap at depth and provide valuable information for targeting in the next round of drilling.
Survey parameters are as follows:
The primary objective of this program is to identify, delineate, and characterize subsurface features
associated with Cu–Mo porphyry mineralization, through an integrated DCIP 2D and 3D approach.
Specific objectives of the program include:
• Identification of lithological contrasts and hydrothermal alteration zones
• Detection of chargeability anomalies related to disseminated sulfides
• Delineation of structural controls and intrusive centers
• Development of a robust 3D geophysical model to support exploration targeting
• Reduction of geological uncertainty and optimization of drilling programs
A key expected outcome of this program is the generation of a fully integrated 3D inversion model,
combining newly acquired data with existing geophysical datasets, significantly enhancing
interpretation reliability and subsurface resolution.
Survey Specifications
• Method: Time-Domain Induced Polarization (DCIP) – Pole–Dipole
• Dipole spacing: 200 m
• n levels: 10
• Total coverage: 23 km (9 lines)
• Estimated duration: ~17 days
• Depth of investigation: 550–650 m
Instrumentation
IRIS VIP 5000 transmitter (5 kW) or equivalent
IRIS ELREC-PRO multichannel receiver (10 channels)
Full electrode arrays, cables, and communication systems
GPS positioning systems
Backup equipment and spare components
On-site computing systems for QC and preliminary processing
DCIP 3D Inversion Approach
The 3D inversion workflow is expected to follow industry best practices below:
1. Data Conditioning
o Noise filtering and validation
o Normalization of legacy and new datasets
2. Model Construction
o Creation of a unified 3D mesh
o Incorporation of topography and survey geometry
3. Joint Inversion
o Simultaneous inversion of resistivity and chargeability
o Integration of historical data to improve depth resolution
4. Regularization Strategy
o Smoothness-constrained inversion
o Structural constraints where geological data is available
5. Output
o 3D resistivity and chargeability volumes
o Depth slices and isosurfaces
o Target anomaly definition
Quality Control and Field Procedures
• Repeated measurements for data consistency
• Continuous QC monitoring in real time
• Immediate correction of acquisition issues
• Standardized procedures to ensure data reliability
In parallel with the geophysical survey, Nobel has contracted PHOTOSAT of Vancouver, Canada to
carry out an alteration study of the Cuprita Project. The objective of this study is to identify the areas
within the extensive alteration system that are characterized by alteration mineral assemblages
related to highest heat- flow at the time the porphyry system was developing. This is typically the
area where highest copper concentrations occur. The study will consist of the following:
• PhotoSat will process 50 cm resolution WorldView-3 archive multispectral satellite imagery
with multiple bands in the visible and near -infrared and shortwave (VNIR– SWIR) range.
Processing integrates deep learning techniques (CNN) and additionally spectral calibration
with hyperspectral data, optimizing correction to surface reflectance and improving the
accuracy of the results.
• The method allows the detection of up to 13 key minerals, with reproducible results and
reduced false positives. Below is the list of minerals that can be detected and delivered at a
resolution of 2.0m:
• Clorite/Epidote
• Alunite
• Kaolinite
• Montmorillonite
• Sericite
• Babingtonite
• Hematite
• Goethite
• Jarosite
• Iron Oxide Gossans Pyrophyllite
• In addition, the package includes Silica detection at a resolution of 75 m, processing
ASTER images.
• PhotoSat provides alteration mineral mapping products for regional or proprietary scale exploration
projects. High-resolution property-scale alteration mapping occurs using 16-band VNIR/SWIR data
from WorldView -3 at 2 m resolution. Regional -scale alteratio n mapping is also available that
combines a variety of medium-resolution datasets such as ASTER and Sentinel-2 at 10 m and 12.5
m resolution and hyperspectral imagery.