NovaRed Mining Reports Soil Geochemistry Results
NovaRed Reports Soil Geochemistry Results from North
Lamont Target Area, Wilmac Copper-Gold Project
Vancouver, British Columbia – May 11, 2026 – NovaRed Mining Inc. (CSE: NRED; OTCQB: NREDF)
(“NovaRed” or the “ Company”) is pleased to report results from a soil geochemistry program
completed in 2024 by the previous optionee on the North Lamont target area of the Wilmac
Copper-Gold Project (the "Project" or the “Property”). The 43-sample program was designed to
characterize a mapped pyroxenite exposure and adjacent ground covered by an intense magnetic
anomaly identified by historical airborne geophysics. The dataset was acquired by the Company
as part of the historical ex ploration database disclosed in its news release date d April 15, 2026,
and was analyzed at ALS Canada in North Vancouver, B.C. using a four-acid (near-total) digestion
followed by 34-element inductively coupled plasma – atomic emission spectroscopy ("ICP-AES").
The samples returned anomalous copper values in soils overlying and adjacent to the mapped
pyroxenite exposure. Multi -element analysis from the same samples returned chemical
signatures associated with magmas favourable for the formation of copper -gold por phyry
deposits, and those signatures correlate spatially with the intense magnetic anomaly. The
combined geochemical and magnetic data are interpreted to indicate that the magnetic anomaly
delineates a larger, predominantly blind intrusive complex extendin g beyond the limited
pyroxenite exposures at surface. The North Lamont target now ranks as a moderate-priority drill
target, with potential to be upgraded to high priority pending results of the IP/AMT survey at
North Lamont. The North Lamont survey has re ceived "No Permit Required" authorization and
forms part of the Company's broader 2026 geophysical program currently in progress at the
Project (see news release dated March 11, 2026).
"These soil geochemistry results support the geological thesis behind our work at North Lamont,"
said Brian Goss, Chief Executive Officer of NovaRed Mining Inc. "The data are consistent with the
kind of magma that builds copper -gold porphyry deposits, and the spatial fit with the magnetic
anomaly suggests an intrusive source that is larger than the limited pyroxenite exposures at
surface. With our 2026 geophysical program now in progress, completion of the IP/AMT survey
at North Lamont is the next step in defining a drill target."
2024 SOIL SAMPLING PROGRAM
The North Lamont grid is located immediately north of, and contiguous with, the previously
surveyed Lamont grid (see news release dated March 11, 2026). Mafic -to-ultramafic intrusive
lithologies — pyroxenite, hornblendite, gabbro, and diorite — are the rock units of predominant
interest on the Project, and altered Nicola Group rocks associated with porphyry-style alteration
and mineralization, such as those documented at the nearby Whipsaw Porphyry occurrence,
have been described elsewhere on and adjacent to the Property. The 2024 program was designed
to test the geochemical response of soils developed over the mapped pyroxenite exposure and
to evaluate whether porphyry -style elemental signatures could be detected over the broader,
predominantly intrusive footprint suggested by the underlying magnetic anomaly.
A total of 43 samples were collected along two segments of the forestry road network at a sample
spacing of 35 to 40 metres. Samples were taken from relatively undisturbed ground on the uphill
side of the road and beyond the disturbance associated with roa d construction, at depths of 15
to 30 centimetres, and comprise "B" horizon soils. Samples were placed in Kraft bags, then
grouped in poly bags of approximately 20 to 25 samples for shipment in rice bags to ALS Canada's
North Vancouver facility.
ANALYTICAL RESULTS — COPPER
Copper concentrations from the 43 four -acid soil samples are plotted in Figure 1 against the
mapped pyroxenite exposures and a portion of the Calculated Vertical Gradient derived from a
historical airborne magnetic survey (Rockel, 2009). Two spatial patterns are evident.
The eastern pyroxenite exposure coincides with a local intense magnetic high, and soils overlying
and adjacent to this exposure returned elevated copper values, including three samples with
concentrations exceeding 150 ppm (i.e., 162, 200 and 258 ppm). To the west, a second mapped
pyroxenite exposure correlates with a comparatively small magnetic anomaly and returned a
total of nine samples exceeding 150 ppm.
A second, more strongly anomalous cluster was returned along a forestry road segment to the
west of the eastern pyroxenite , with a comparatively small magnetic anomaly . A borrow pit at
this location exposes mafic -to-ultramafic lithologies and is interpreted as an additional, albeit
limited, surface expression of the intrusive complex. Highly anomalous c opper values were
obtained from nine samples with concentrations exceeding 150 ppm (i.e., 157, 169, 175, 179,
227, 237, 265, 323 and 379 ppm), with a sample-population average of 209 ppm.
The contrast is interpreted to indicate that intense magnetic highs may delineate the presence
of copper-bearing, iron-rich mafic-to-ultramafic intrusive lithologies in the sub-surface, providing
a potential vector for further exploration where surface exposure is limited.
The 2024 four -acid results can be compared with copper values from the previous operator's
2023 Lamont grid survey to the south, which utilized an Aqua Regia (i.e., partial) digestion), where
two northwest-trending sample lines extend into the area covered by the North Lamont program.
Aqua Regia copper values along these lines range from 10.6 to 95.3 ppm, including three samples
returning between 51.8 and 95.3 ppm within the western magnetic anomaly. At one location, an
Aqua Regia sample returned 50.3 ppm copper, while two proximal samples from the 2024 four -
acid program returned 169 and 175 ppm. The systematic difference is consistent with the well -
documented bias between partial - and near-total digestion methods for copper recovery and
supports the use of near-total methods for further analytical work on the Property.
Figure 1 – Plan map of copper values from soils on the North Lamont grid plotted against the mapped
pyroxenite exposures and a portion of the Calculated Vertical Gradient derived from the historical airborne
magnetic survey (Rockel, 2009). Note the spatial coincidenc e between the eastern pyroxenite exposure and
the intense local magnetic high, and the elevated copper values returned across the borrow -pit exposure to
the west.
Sr/Y RESULTS — MAGMA FERTILITY SIGNATURE
In porphyry copper -gold exploration, the strontium -to-yttrium ratio (Sr/Y) is used as a proxy
indicator of magma "fertility" — whether the parent magma has the chemical characteristics
associated with porphyry deposit formation. Fertile magmas are interpre ted to have formed at
depth under high -pressure, water-saturated ("wet") conditions, mineralogically expressed in a
hornblende-bearing rather than a pyroxene-bearing assemblage. Moderate Sr/Y ratios (20 to 40)
are considered prospective, with higher ratios reinforcing the signature (Loucks, 2014; Corral et
al., 2021). Alkalic porphyry systems — the deposit type documented in the Quesnel porphyry belt
— typically return lower Sr/Y values than calc -alkalic systems, meaning moderate values may
carry significant exploration weight in this geological setting (Chiaradia, 2020).
Analysis of the 2024 North Lamont samples returned Sr/Y values that the majority classify as
moderate, with several samples returning high values (Figure 2). The Sr/Y signature shows close
spatial agreement with the underlying magnetic anomaly: the highest -intensity portions of the
anomaly correspond to the strongest Sr/Y values, with the two mapped pyroxenite exposures
sitting at either end. The combined geochemical and geophysical pattern is interpreted to
indicate that the magnetic anomaly delineates a p redominantly blind, multi -phase intrusive
complex, with the surface pyroxenite exposures representing limited windows into a
substantially larger body. Limited mapping during the soil program documented mafic -to-
ultramafic lithologies — pyroxenite, gabbro, and diorite — at and around the sampled area,
consistent with this interpretation.
The four -acid (near -total) digestion was material to obtaining a meaningful Sr/Y signal. The
previous operator's 2023 Aqua Regia (partial-digestion) Lamont grid data (Walker 2024) returned
uniformly low Sr/Y values (< 20), including across the portion of the grid that overlaps with the
North Lamont area, and would, on its own, have suggested no fertile magma signature. The
contrast underscores the importance of near -total digestion for characterizing intrusive-related
geochemistry on the Property.
Figure 2 – Plan map of Sr/Y values from the 2024 North Lamont soil sampling program (four -acid near-total
digestion) along the forestry road segments. The previous operator's Aqua Regia (partial -digestion) samples
from the Lamont grid to the south are shown along nor thwest-trending lines for methodological comparison
(Walker 2024). Inset: Larger -scale view showing the intense magnetic anomaly, the two mapped pyroxenite
exposures, and the Sr/Y values.
V/Sc RESULTS — MAGMA OXIDATION STATE
The vanadium-to-scandium ratio (V/Sc) is used in porphyry copper -gold exploration as a proxy
indicator of magma oxidation state. Oxidized magmas are interpreted as favourable for porphyry
mineralization because metals are liberated into hydrothermal fluids rather than trapped in the
deep crust as sulfides; reduced magmas are interpreted as unfavourable. High V/Sc ratios (>13)
indicate oxidized conditions, low values (<7) indicate reduced conditions, and moderate values
(7 to 13) are interpreted as transitional and potentially favourable (Loucks, 2014). Highly oxidized
magmas also tend to develop magnetite over iron -bearing silicates, so an oxidized signature is
often associated with discrete magnetic anomalies — a relationship of direct relevance to the
North Lamont target.
V/Sc results from the 2024 North Lamont samples (Figure 3) returned moderate values across
the forestry-road segments analyzed by four-acid digestion, consistent with a transitional magma
between reduced and oxidized. As with the Sr/Y results, the V/Sc dat a show spatial agreement
with the underlying magnetic anomaly and support the interpretation that the anomaly
delineates a multi-phase intrusive complex with two limited pyroxenite expressions at surface.
Two samples within the North Lamont area, sampled by the previous operator in 2024 using Aqua
Regia (partial) digestion as part of the Lamont grid program (Walker 2024), returned high V/Sc
values (>13), suggesting localized oxidation that may extend beyond the four-acid coverage. The
combined dataset is interpreted to indicate a magma transitional between reduced and oxidized
states, and the target is considered worthy of follow-up. Additional four-acid sampling across the
broader anomaly footprint is recommended to test whether the oxidation signal strengthens
elsewhere on the target.
Figure 3 – Plan map of V/Sc values from the 2024 North Lamont soil sampling program (four -acid near-total
digestion). In contrast to the Sr/Y plot, two of the previous operator's Aqua Regia (partial -digestion) samples
from the Lamont grid to the south returned high V /Sc values (Walker 2024) , while the four -acid samples
returned moderate values throughout the surveyed area. Inset: Larger -scale view showing the intense
magnetic anomaly, the two mapped pyroxenite exposures, and the V/Sc values.
SUMMARY
The 2024 North Lamont soil geochemistry returned three coincident lines of evidence in support
of a porphyry copper -gold target. Copper concentrations are anomalous over the mapped
pyroxenite exposure and reach 123 to 370 ppm across a borrow -pit exposure of mafic -to-
ultramafic intrusive lithologies to t he west. Sr/Y values returned moderate -to-high signatures
associated with fertile magma source compositions. V/Sc values are moderate across the four -
acid samples and locally high in two adjacent Aqua Regia s amples from the previous operator's
Lamont grid program, consistent with a magma transitional between reduced and oxidized.
The geochemical signatures show close spatial agreement with the underlying magnetic
anomaly, which is interpreted to delineate a predominantly blind, multi-phase intrusive complex
with the two mapped surface pyroxenite occurrences as limited surface expre ssions. The
intensity of the magnetic anomaly itself supports the interpretation: high -intensity magnetic
responses are typically associated with elevated magnetite content, which is itself an
independent indicator of an oxidized magma or hydrothermal system.
The North Lamont target currently ranks as a moderate -priority drill target. Completion of the
planned IP/AMT survey, which forms part of the Company's broader 2026 geophysical program
currently in progress at the Project and has received "No Permit Required" authorization, has the
potential to upgrade the target to high priority pending interpretation of the integrated
geophysical and geochemical datasets.
WILMAC COPPER-GOLD PROJECT OVERVIEW
The Wilmac Copper-Gold Project comprises 16,078 hectares of mineral tenures located within
the Quesnel porphyry belt in the Similkameen Mining Division of British Columbia, southwest of
Princeton, and approximately 10 kilometres west of Hudbay Minerals Inc.'s ("Hudbay") producing
Copper Mountain Mine. The Project is situated in a well-documented copper-gold porphyry belt
and is interpreted to host potential for the identification of one or more copper -gold alkalic
porphyry occurrences similar in age and deposit type to those hosting the nearby Copper
Mountain Mine. According to Hudbay, Copper Mountain hosts Proven and Probable Mineral
Reserves of 345 million tonnes grading 0.26% copper and 0.12 g/t gold (source: Hudbay Minerals
Inc., "Hudbay Provides Annual Reserve an d 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).
The Company has not independently verified this information. Readers are cautioned that the
discussion of mineralization on adjacent or similar properties, including the Copper Mountain
Mine, is not necessarily indicative of the mineralization or potential of the Wilmac Project. The
Company has no interest in, or right to acquire any interest in, any such adjacent properties.
REFERENCES
Chiaradia, M. (2020). Gold endowments of porphyry deposits controlled by precipitation efficiency.
Nature Communications, 11(248), 1–10. https://doi.org/10.1038/s41467-019-14113-1
Corral, I., Sahlström, F., Behnsen, H. and Chang, Z. (2021). Geochemical tools for porphyry systems
exploration: Magma fertility, and Porphyry Indicator Minerals (PIMs) of the northern Bowen
Basin, Queensland (Australia). Geo-Temas, 18, X Congreso Geológico de España, pp. 400–403.
Loucks, R. (2014). Distinctive composition of copper-ore-forming arc magmas. Australian Journal of Earth
Sciences, 61, 5–16. https://doi.org/10.1080/08120099.2013.865676
Rockel, E.R. (2009). Report on a Fugro Airborne Geophysical Survey, Tulameen Project. Assessment Report
31,585C, prepared for Goldcliff Resource Corporation by Interprex Resources Ltd., dated
November 20, 2009, 60 p.
Saleken, L. (2013). Compilation Report on the Tulameen Project Property, Whipsaw Target Area.
Assessment Report 33,626A, filed January 31, 2013, 149 p.
Walker, R.T. 2024. ASSESSMENT REPORT - WEST PRINCETON PROJECT, Assessment Report for Collective
Metals Inc. by Dynamic Exploration Ltd, dated December 8, 2024, 612 p.
QUALIFIED PERSON
The scientific and technical information in this news release 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 analytical data referenced in this news release were generated by the previous optionee in
2023–2024 and acquired by the Company as part of the historical exploration database disclosed
in its news release dated April 15, 2026. S oil samples from 2023 were analyzed at ALS Canada's
North Vancouver, British Columbia facility using an Aqua Regia (partial) digestion followed by 34-
element inductively coupled plasma – atomic emission spectroscopy. S oil samples from 2024
were analyzed at ALS Canada's North Vancouver, British Columbia facility using a four-acid (near-
total) digestion followed by 34 -element inductively coupled plasma – atomic emission
spectroscopy. ALS Canada is accredited to ISO/IEC 17025 and its systems and procedures meet