NovaRed enters standstill agreement for mining surveillance technology

Vancouver, British Columbia--(Newsfile Corp. - July 13, 2026) - NovaRed Mining Inc. (CSE: NRED) (OTCQB: NREDF) (" NovaRed " or the " Company ") is pleased to announce that it has entered into a Standstill Agreement with EyeX LLC, a Florida corporation, whereby the parties will conduct mutual due diligence regarding each other's business with a view to NovaRed acquiring an interest in EyeX LLC's artificial intelligence surveillance technology upon acceptable terms. EyeX LLC has developed an artificial intelligence-based platform that monitors every surveillance camera, drone, and feed without the traditional need for constant human oversight in order to identify existing and potential system and equipment risks. In the context of mineral exploration and mining, the EyeX technology can monitor exploration and production efficiency and progress; environment threats, such as fuel leaks; staff location; trespassing, vandalism, and theft; and potentially rock and ore content.

The platform works with existing cameras, detects risks in real time, provides mobile emergency alerts, and works on remote, low-connectivity sites. Pursuant to the terms of the standstill agreement, NovaRed and EyeX LLC have 30 days to complete a mutual due diligence review of each other's affairs. During this period, EyeX LLC shall not seek or entertain any third party offers to acquire an interest in its technology.

NovaRed does not have an agreement to acquire any interest in EyeX or its technology, and there is no assurance that any such agreement will be reached. Appointment of Chief Technology Officer The Company is also pleased to announce the appointment of Valentin Saitarli as its Chief Technology Officer. Mr. Saitarli is an artificial intelligence technologist and entrepreneur with more than a decade of experience developing machine learning and computer vision systems across enterprise and industrial applications.

He is Co-Founder and Chief Technology Officer of EyeX LLC where he leads technology strategy and product development focused on AI-powered visual intelligence solutions for mining, defense, and smart city applications. Earlier in his career, Mr. Saitarli worked at Infosys' Knowledge Institute in New York, where he advised enterprise clients on artificial intelligence, automation, and digital transformation initiatives centered on the company's enterprise AI platform. Mr. Saitarli completed executive studies in artificial intelligence, generative AI, and computer vision at the Massachusetts Institute of Technology and executive education at Stanford University.

He graduated magna cum laude from Columbia University, where he served as a research assistant applying computational linguistics to the analysis of more than 30,000 collective bargaining agreements, contributing to research later published as Optimal Contract Design in the Wild . His work has focused on computer vision, behavioral AI, computational linguistics, and transformer-based architectures with experience spanning object detection, visual analytics, and enterprise AI systems. Prior to forming EyeX LLC, Mr. Saitarli was a member of the founding leadership team at AiMerch, a computer vision company that participated in the StartX accelerator and Techstars and Google for Startups programs.

Earlier roles included positions at Apple and Uber, and he later founded PRAI, an artificial intelligence platform focused on neural network technologies. In 2025, he was appointed to teach a course in computer vision and process optimization at Florida International University. His work has been featured in publications including Forbes , The Wall Street Journal , and Entrepreneur .

Mr. Saitarli will oversee the Company's incorporation of technology initiatives into its mineral exploration operations. In connection with the appointment, Brian Goss, President and C.E.O. of NovaRed remarked, "Artificial intelligence is becoming an increasingly important tool in mineral exploration, particularly as the industry seeks to improve the efficiency and quality of geological data analysis. Valentin Saitarli brings significant experience in artificial intelligence, computer vision, and enterprise AI systems, and we believe his technical expertise will support the continued development and integration of AI-driven tools into our exploration workflow.

We look forward to working with him as we evaluate how these technologies can complement traditional geological methods and assist in identifying and prioritizing exploration targets." Name Change The Company further announces that it intends to change its name from NovaRed Mining Inc. to NRED Intelligent Mining Inc. to reflect its mission to incorporate artificial intelligence technology into the mineral exploration process. The name change will not affect the rights of the Company's shareholders. There will be no consolidation of capital associated with the name change and shareholders will not be required to take any action.

Issued certificates representing common shares in the capital of the Company will not be affected by the name change and will not need to be exchanged. The name change is subject to regulatory approval. The Company will provide an update regarding the effective date of the name change in due course.

Advisory Board Resignation Commander Phil Ehr has resigned as a member of the Company's advisory board. NovaRed thanks Commander Ehr for his contributions and wish him the very best in his future endeavors. 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 10 kilometres west of Hudbay Minerals Inc.'s producing Copper Mountain Mine. For more information, visit novaredmining.com . 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 copper-gold project.

The Company has no interest in, or right to acquire any interest in, any such adjacent properties. ON BEHALF OF NOVARED MINING INC. Brian Goss Chief Executive Officer E: info@novaredmining.com FORWARD-LOOKING INFORMATION This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation, including statements regarding the possibility that the Company will acquire an interest in EyeX LLC and/or its technology; the potential benefits that EyeX's technology will provide for mineral exploration, mining, and other sectors; the role that the Company's new officer will play, the anticipated benefits of his retention, the Company's ability to develop and incorporate artificial intelligence into its mineral property exploration plans; the Company's ability to implement a successful long-term growth strategy involving the acquisition and development of mineral properties, the Company's ability to develop AI and robotics-related technologies that positively impact mineral property exploration and development; and the advancement of the Company's British Columbia copper-gold exploration portfolio. 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.

Such assumptions include, without limitation, the availability of adequate funding to execute the Company's stated strategy, the continued advancement of the Company's mineral exploration and artificial intelligence initiatives, and management's ability to attract and maintain strategic advisory relationships. 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 Company's ability to retain key advisory personnel; the continued availability of capital and financing to execute the Company's strategy; changes in applicable laws and regulations; general economic, market or business conditions; the Company's ability to execute its mineral exploration and artificial intelligence strategies; and competition for qualified strategic advisors.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/304884 Newsfile Corp. July 13, 2026 - 4:30 AM PDT News by QuoteMedia www.quotemedia.com