NovaRed Interprets Multiple Porphyry Copper-Gold Targets at Wilmac
NovaRed Mining Interprets Multiple Porphyry Copper-Gold Targets
Above Large Interpreted Batholith at Wilmac
Vancouver, British Columbia – August 6, 2026 – NovaRed Mining Inc. (CSE: NRED) (OTCQB: NREDF)
(“NovaRed” or the “Company”) is pleased to report a new geological interpretation of its Wilmac Copper-
Gold Project (the “Project”) in British Columbia’s Quesnel porphyry belt.
The interpretation is derived from surface geology, property-wide magnetic data and sub-surface data
from the 2024 3DIP/AMT geophysical survey on the local Lamont grid. Together, these datasets are
interpreted to suggest numerous small intrusions exposed at surface may represent the upper portions
of multiple potential copper -gold porphyry systems connected to a much larger interpreted intrusive
body, or batholith, at depth.
This news release is the latest in a series of technical interpretations of the Project. See the Company’s
news releases dated April 15, 2026 (acquisition of the historical exploration database), May 11, 2026
(historical soil geochemistry), May 13, 2026 (2 024 3DIP/AMT survey, Lamont grid), June 11, 2026
(summary of results and drill target prioritization), June 17, 2026 (proposed 2026 field program), July 23,
2026 (regional magnetic interpretation) and July 24, 2026 24 (identifies large high-intensity magnetic
target).
The large regional magnetic anomaly underlying the Project (see news release dated July 2 4, 2026) is
interpreted to potentially represent a multi -phase batholith approximately 1 8 kilometres in diameter.
More specifically, the anomaly is approximately 18 km east -northeast by west-southwest. It appears to
have been segmented into three north-northwest – south-southeast domains: with the Copper Mountain
domain approximately 13.1 km in length, the Whipsaw domain approximately 12.7 km and the Lamont
domain approximately 8.7 km, with each domain approximately 5.7 km in width. The interpreted anomaly
extends beyond the boundaries of the Project . The total area underlain by the Total Magnetic Intensity
anomaly is a minimum of 188 km2, with approximately 46 km2 captured by the property. By comparison,
an individual alkalic copper-gold porphyry system is typically only a few hundred metres across [RICK —
source for this comparison].
This difference in scale matters for how the Project is explored. Rather than targeting the entire large
magnetic anomaly, NovaRed’s exploration strategy is focused on identifying the smaller intrusive “pipes”
and “cupolas” extending upward from the interp reted batholith. These structures may have acted as
pathways for mineral -rich hydrothermal fluids and therefore represent priority targets for copper -gold
exploration.
“What changes with this interpretation is the number of things worth testing,” said Brian Goss, Chief
Executive Officer of NovaRed Mining Inc. “There is
potentially a very large intrusive complex at depth, but the copper -gold targets we are looking for are
much smaller structures extending upward from it. Across the Project we see small diorite and gabbro
intrusions at surface, magnetic anomalies and pipe-like geophysical features at depth. We are not looking
at a single target that either works or does not. We are looking at several spatially separate intrusive
centres, each large enough that, if any one of them carries copper -gold mineralization, would be tested
as its own program. That is a different risk profile from a single-target property, and it is why we have four
additional geophysical surveys proposed rather than one.”
How This Interpretation Relates to the Company’s Previous Disclosure
The Company’s geological interpretations of the Project operate at three nested scales, and the following
is intended to relate them to one another. At the regional scale, total magnetic intensity data outline a
composite batholith interpreted to have been segmented and vertically displaced across the Boundary
and Whipsaw faults; the Project covers the western, down -dropped segments of that feature, and the
Copper Mountain camp lies on the upthrown eastern block (see news release dated July 24, 2026). At the
Project scale, surface mapping, drill core and geophysical survey results document a multi-phase intrusive
complex comprising ultramafic, mafic and intermediate phases, interpreted to be largely unexposed (see
news release dated June 11, 20 26). At the survey -grid scale, the 2024 3DIP/AMT survey resolved two
interpreted parent intrusive bodies beneath the Lamont grid, each with pipe -like features extending
upward toward surface (see news release dated May 13, 2026).
The interpretation described in this news release proposes that these are expressions of a single intrusive
system observed at different scales, and that the smaller intrusive bodies exposed at surface and imaged
at the Lamont grid represent the upper levels of the larger interpreted batholith. For reference, the West
Lamont Complex is another, comparatively smaller, high intensity magnetic anomaly located north of the
large magnetic anomaly described above
Within the Project, the Company has identified three high-priority areas for subsequent diamond drilling:
in order of priority, the Wilmac, the Lamont / North Lamont, and the Trojan -Condor Corridor areas (see
news release dated June 11, 2026). References in this news release to the Wilmac, Lamont, North Lamont,
West Lamont or Plume grids are references to survey grids or target areas within the Project; references
to “the Project” are to the Wilmac Copper-Gold Project as a whole.
A Large Intrusive System with Multiple Potential Targets
Small exposures of pyroxenite, hornblendite, gabbro and diorite have been mapped across the Project,
and have previously been reported as evidence of a multi -phase intrusive complex identified in outcrop,
in drill core and in geophysical survey results (se e news release dated June 11, 2026). These rocks are
interpreted as potentially representing the upper portions of a larger intrusive system rather than isolated
occurrences. In the Company’s geological model, magma from the deeper batholith moved upward as
smaller pipes and cupolas. These structures are important because they can focus hot, metal -bearing
fluids responsible for forming porphyry copper-gold deposits. This means the exploration objective at the
Project is not to locate the large batholith, but rather the individual structures extending upward in which
copper and gold may have become concentrated.
Geophysics Supports the Model
The historical 2024 3DIP/AMT survey on the Lamont grid (see news release dated May 13, 2026) is
interpreted to provide additional support for this interpretation. The survey is interpreted to outline two
parent intrusive bodies beneath the grid, each with multiple pipe-like features extending upward toward
surface.
The AMT method penetrated to approximately 1,500 metres at this site. The AMT data resolved a
resistivity low in the eastern portion of the grid and a resistivity high in the western portion, each
comprising multiple elongated, pipe-like features near surface that coalesce downward into a single larger
volume at depth. The two parent volumes interfinger with one another, a relationship interpreted to
reflect two separate magmatic pulses within a composite intrusive complex. This geometry is consistent
with the type of intrusive architecture expected in an alkalic porphyry copper-gold system.
The Lamont grid is small relative to the area within the tenures comprising the Project. Seven survey lines
spaced 300 metres apart and ranging from 2,400 to 2,800 metres in length cover approximately 4.7 square
kilometres, or approximately three percent of the Project’s 16,078 hectares, and AMT data were recorded
on three of the seven lines. The regional interpretation described in this news release rests principally on
magnetic data; the Lamont grid is the one area of the Project in which that interpretation has been tested
at depth by a three -dimensional survey. Accordingly, additio nal potential porphyry targets may exist
elsewhere across the Project and remain untested.
Surface geochemistry provides independent support in the same area. Copper -in-soil values to a
maximum of 1,125 ppm correlate broadly with the projection of near-surface chargeability highs and
deeper conductivity anomalies on the eastern portion of the Lamont grid (see news releases dated May
11, 2026 and May 13, 2026). The two interpreted parent bodies correlate differently with that
geochemistry: a limited number of elevayed copper-in-soil values east of the interpreted fault are spatially
associated with intense chargeability anomalies, while those west of the fault are associated with
chargeability lows.
Exploration Strategy: Find the Pipes
NovaRed’s exploration strategy can be summarized simply: identify the structures that may have carried
copper- and gold-bearing fluids upward from the larger intrusive system. Evidence for these features may
include:
• Surface diorite, gabbro and related intrusive rocks;
• Copper-gold soil geochemical anomalies;
• Magnetic anomalies;
• IP chargeability anomalies; and/or
• Pipe-like features identified through AMT geophysics.
When several of these different indicators overlap, they can help define priority targets for future drilling.
The Lamont grid is the clearest example on the Project to date, where copper -in-soil anomalies,
chargeability highs and pipe-like resistivity features coincide. Historical drilling within the Trojan-Condor
Corridor has not tested targets at depth: four holes (WS14-001 to WS14-004) totalling approximately 728
metres, were completed by a previous operator in 2014, at depths between 135 and 215 metres (see
news release dated June 11, 2026). Porphyry-style alteration was encountered in those holes. Given their
limited depth, that alteration is interpreted to represent peripheral alteration surrounding a target at
greater depth, although this has not been tested.
Subject to receipt of the required permit and financing, the Company’s proposed drilling program, which
is unlikely to occur prior to 2027, would be designed to test selected targets at depths where geological
and geophysical evidence suggests copper-gold mineralization could potentially be concentrated.
A District-Scale Opportunity
The Wilmac Copper-Gold Project covers 16,078 hectares within British Columbia’s Quesnel porphyry belt,
southwest of Princeton. The Project lies approximately 10 kilometres west of the producing Copper
Mountain Mine and is separated from the Copper Mountain camp by the regional Boundary Fault.
The geological setting at the Project is potentially analogous to the broader intrusive environment
associated with the Copper Mountain system, although the Project appears to expose a different and
potentially shallower geological level than Copper Mountain, such that any mineralized porphyry centres,
if present, would be expected at greater depth and would not be exposed at surface. Copper Mountain
hosts Proven and Probable Mineral Reserves of 345 million tonnes grading 0.26% copper and 0.12 g/t gold
(Hudbay Minerals Inc., “Hudbay Provides Annual Reserve and Resource Update with Mine Life Extensions
and Improved Three -Year Production Outlook,” news release dated March 27, 2026; mineral reserves
estimated in accordance with CIM Definition Standards incorporated by reference in NI 43-101). Readers
are cautioned that the discussion of mineralization, alteration or grades on adjacent, similar or analogous
properties, including the Copper Mountain Mine, is not necessarily indicative of the mineralization or
potential of the Project. The Company has no interest in, or right to acquire any interest in, the Copper
Mountain Mine.
The combination of a large interpreted batholith, numerous intrusive exposures at surface, magnetic
anomalies, geochemical anomalies and pipe -like geophysical features provides a framework for
systematically exploring the Project for multiple potential alk alic copper-gold porphyry systems. Subject
to financing, four proposed IP/AMT surveys across the North Lamont, West Lamont, Wilmac and Plume
grids (see news release dated June 17, 2026) are intended to help determine whether similar pipe -like
targets occur elsewhere within the broader interpreted intrusive complex.
Alternative Explanations
The interpretation described in this news release is conceptual, and the Company has not excluded other
explanations for the datasets on which it rests. The regional magnetic anomaly may reflect a mafic or
ultramafic intrusive body not associated with porp hyry copper -gold mineralization. The pipe -like
resistivity features imaged at the Lamont grid may reflect structural or lithological contrasts . including
fault zones, graphitic horizons or saline groundwater, rather than intrusive geometry. The small intrusive
exposures mapped at surface may be unrelated to the larger interpreted body at depth. Surface mapping
and existing geophysical data do not distinguish among these explanations. The proposed 2026 IP/AMT
surveys, and any subsequent drilling, are intended to address that question.
Qualified Person
The scientific and technical information in this news release, including the geological interpretations
described herein and the accompanying figures, has been reviewed and approved by Rick Walker, P.Geo.,
a Qualified Person as defined by National Instrument 43-101 (“NI 43-101”). Mr. Walker is not independent
of the Company within the meaning of NI 43 -101. The interpretations described in this news release are
conceptual, and rest in part on third-party historical mapping, geophysical surveys, soil geochemistry and
drilling that the Company has not independently verified. No mineral resources or mineral reserves have
been identified on the Project.
About NovaRed Mining Inc.
NovaRed Mining Inc. (CSE: NRED) (OTCQB: NREDF) is a mineral exploration company focused on the
identification, acquisition, exploration and development of copper -gold porphyry projects in British
Columbia, leveraging an artificial intelligence-enhanced geospatial technology platform that it developed
to identify and evaluate prospective mineral properties. The Company’s optioned Wilmac copper -gold
project comprises 16,078 hectares located within the Quesnel porphyry belt in the Similkameen Mining
Division, southwest of Princeton and approximately 1 0 kilometres west of Hudbay Minerals Inc.’s
producing Copper Mountain Mine. For more information, visit novaredmining.com.
Readers are cautioned that discussion of mineralization, alteration or grades on adjacent, similar or
analogous properties, including the Copper Mountain Mine, is not necessarily indicative of the
mineralization or potential of the Wilmac Copper -Gold Project. The Company has no interest in, or right
to acquire any interest in, any such properties. No mineral resources or mineral reserves have been
identified on the Project.
ON BEHALF OF NOVARED MINING INC.
Brian Goss
Chief Executive Officer
FORWARD-LOOKING INFORMATION
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation.
Forward-looking information includes, but is not limited to, statements regarding: the interpretation of the regional
magnetic anomal y as representing a multi -phase batholith underlying and extending beyond the Project; the
interpretation that the small intrusive bodies exposed at surface, and the pipe-like features imaged by the 2024 3DIP/AMT
survey on the Lamont grid, represent the upper portions of that batholith; the interpretation that such features may have
focused mineralizing hydrothermal fluids and therefore represent priority exploration targets; the expectation that
additional potential porphyry targets may exist elsewhere across the Project; the potential analogy between the geological
setting of the Project and that of the Copper Mountain system; the Company’s intention, subject to financing, to complete
four IP/AMT surveys across the North Lamont, West Lamont, Wilmac and Plu me grids; the Company’s proposed drilling
program, including its anticipated timing, design and the depths to be tested; the availability of the financing required to
complete the proposed exploration on the Project; and the Company’s intention and ability to satisfy the cash payment,
share issuance and exploration expenditure milestones required to exercise the option agreements respecting the Project.
Forward-looking information is based on a number of assumptions that, while considered reasonable by the Company at
the date of this news release, are inherently subject to significant business, economic and competitive uncertainties and
contingencies. Suc h assumptions include, without limitation: the accuracy of current geological and geophysical
interpretations, including the interpretation of the magnetic and 3DIP/AMT datasets and the deposit -model analogy
described in this news release; the accuracy and completeness of the third-party historical mapping, geophysical surveys,
soil geochemistry and drilling on which those interpretations rest; the availability of adequate funding to complete the
proposed exploration; the ability of the Company’s geophysica l contractors to complete the proposed 2026 surveys on
schedule; favourable weather, terrain and field conditions; access to the Project area; the availability of qualified
personnel; the receipt of all necessary permits and authorizations for planned expl oration, including the drill permit
currently being acquired from the previous operator; and the continued cooperation of the optionors under the terms of
the relevant option agreements.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual
results, performance or achievements to differ materially from those expressed or implied by such forward -looking
information. Important risk factors include, but are not limited to: the possibility that the regional magnetic anomaly does
not represent a multi -phase batholith; the possibility that the pipe -like features imaged at the Lamont grid reflect
structural, lithological or other c auses rather than intrusive geometry; the possibility that the small intrusive exposures
mapped at surface are unrelated to the interpreted body at depth; the possibility that one of the alternative explanations
described in this news release is correct; t he possibility that the results of the proposed 2026 IP/AMT surveys do not
support the interpretation described in this news release; the possibility that the geophysical surveys do not image to the
depth required to test the interpretation; the possibilit y that the proposed drilling program is delayed, reduced in scope
or not completed; the continued availability of capital and financing; the ability to satisfy option earn -in requirements on
the timelines contemplated; risks inherent in mineral exploration ; adverse weather or terrain conditions; tenure grant,
renewal and permitting outcomes, including under British Columbia’s revised mineral tenure system; Indigenous and
community consultation requirements; changes in applicable laws and regulations; the ability to retain key personnel and
contractors; litigation; failure of counterparties to perform their contractual obligations; and general economic, market or
business conditions. Readers are cautioned not to place undue reliance on forward -looking information. The Company
undertakes no obligation to update or revise any forward-looking information, except as required by applicable securities
laws.
Neither the CSE nor its Market Regulator (as that term is defined in CSE policies) accepts responsibility for the adequacy
or accuracy of this news release.
Figure 1 – Property location map. Location of the four proposed 2026 geophysical survey grids shown within the boundaries of the propert ies acquired by the
Company. Note: does not show competitor tenures which surround the Wilmac Property.