NovaRed Mining identifies large magnetic target in copper-gold system

Vancouver, British Columbia--(Newsfile Corp. - July 24, 2026) - NovaRed Mining Inc. (CSE: NRED) (OTCQB: NREDF) (" NovaRed " or the " Company ") is pleased to report a geological interpretation of a large, regional, high-intensity magnetic anomaly underlying the Wilmac Copper-Gold Project (the " Project "). This anomaly (see Figure 1) is interpreted to represent the western (i.e. South Princeton) portion of a large, composite batholith that includes the intrusive complex documented at the Copper Mountain Camp. This proposed composite batholith is interpreted to have been structurally segmented and vertically displaced across two regional-scale fault systems: the Boundary Fault and the Whipsaw Fault.

"The magnetic anomaly underlying the Wilmac Project is not a stand-alone feature," said Brian Goss, Chief Executive Officer of NovaRed Mining Inc. "It is interpreted to be the western segment of a much larger batholith that has been pulled apart and vertically displaced by two regional faults. The Copper Mountain Camp, actively producing copper and gold today, sits on the upthrown eastern block east of the Boundary Fault. The Wilmac anomaly sits on the downthrown western block — deeper, largely unexposed, and largely undrilled.

The Whipsaw Fault represents an additional structural discontinuity that further segments the system to the west. What this means for exploration is significant: we may be looking at a single, laterally extensive magmatic system expressed in multiple fault blocks, each with independent potential to host porphyry copper-gold mineralization." Geological Interpretation High-resolution airborne and ground magnetic surveys, together with the Volterra 3DIP/AMT geophysical dataset acquired from the previous optionee (see News Release dated April 15, 2026), have enabled the development of a coherent regional geological interpretation of the large, high-intensity magnetic anomaly underlying the Project. The Copper Mountain Mine and its associated intrusive complex are spatially associated with a large, broad, high-intensity magnetic anomaly east of the Boundary Fault.

Geological mapping in the Copper Mountain camp documents a multi-phase intrusive complex at surface, comprising monzonite, syenite, diorite, gabbro and pyroxenite phases that collectively constitute a composite batholith. This batholith is the interpreted source of the intense magnetic anomaly in the Copper Mountain area and is the causative intrusive complex driving porphyry copper-gold mineralization currently being mined. A comparably large, high-intensity magnetic anomaly underlies the Wilmac Project to the west, separated from the Copper Mountain anomaly by the regionally significant Boundary Fault.

The Boundary Fault is a west-side-down structure, interpreted to have displaced the western block downward relative to the Copper Mountain block. The magnetic anomaly west of the Boundary Fault, underlying the Trojan-Condor Corridor of the Wilmac Project, is interpreted to represent a segment of the same batholith — now buried to greater depth on the downthrown western side of the Boundary Fault — with comparatively small intrusive exposures documented at surface across the Project (including pyroxenite, hornblendite, gabbro and diorite) interpreted to represent only the uppermost apophyses and cupolas of the underlying intrusive complex. The Whipsaw Fault is interpreted to represent an additional, sub-parallel structural discontinuity that further segments the batholith comprising the primary South Princeton anomaly.

Gabbro and diorite intrusions mapped along Whipsaw Creek — the "Whipsaw Stocks" — are interpreted as limited surface expressions of the intrusive complex in a fault block west of the Boundary Fault and east of the Whipsaw Fault. Soil geochemistry, IP chargeability, and AMT resistivity data from the Lamont and Trojan-Condor Corridor areas (see news releases dated May 11 and May 13, 2026) are broadly consistent with this interpretation, documenting anomalous copper, fertile magma signatures (Sr/Y), and transitional magma oxidation states (V/Sc) across multiple fault blocks. Regional Context and Significance Segmentation of a large composite batholith by regional faults is a well-documented geological phenomenon.

In the Copper Mountain Camp, the intrusive complex is exposed at surface on the eastern, upthrown block. To the west, across the Boundary Fault, the equivalent intrusive complex is interpreted to be preserved at depth, shielded from erosion by its downthrown structural position and, in the eastern portion of the Project, partially covered by the Eocene Princeton Group cover sequence. This configuration is interpreted to have preserved deeper, potentially mineralized portions of the hydrothermal system that are believed to have been removed by erosion in the Copper Mountain block.

The existence of three structurally controlled segments of the batholith — the Copper Mountain block (east of the Boundary Fault), the Whipsaw block (west of the Boundary Fault and east of the Whipsaw Fault), and the Lamont block (west of the Whipsaw Fault) — implies that each segment may represent a spatially distinct target for porphyry copper-gold mineralization, with exploration potential interpreted to be largely independent across segments. Figure 1 – Total Magnetic Intensity (TMI) map for the Wilmac Cu-Au Project and surrounding area. The area outlined in red is a previous operator's property boundary, within which the high-resolution airborne survey was flown.

The results have been plotted with respect to regional TMI results available in the public domain. Note the segmented appearance of the intense magnetic anomaly evident to the southeast (the South Princeton and Copper Mountain Complex anomalies). To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/9977/306501_898ab697b47db82b_002full.jpg Next Steps Building on this regional interpretation, the Company is advancing its 2026 field program, comprising four IP/AMT geophysical surveys across the North Lamont, West Lamont, Wilmac, and Plume grids, an expanded soil sampling campaign, and an initial drill program subject to receipt of an approved drill permit (see News Release dated June 17, 2026).

The 2026 program is designed to systematically test the geophysical and geochemical response of the Lamont block, with the objective of defining drill targets that test the interpreted buried intrusive complex at depth. 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. The Project is situated in a well-documented copper-gold porphyry belt and is interpreted to host potential for identification of one or more copper-gold alkalic porphyry occurrences similar in age and deposit type to those hosting the nearby Copper Mountain Mine, which currently 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).

The Project is separated from the Copper Mountain camp by the regionally significant Boundary Fault. Saleken (2013) interpreted the geological setting west of the fault to be analogous to that of the Copper Mountain Intrusive Complex, but at a shallower level of erosional exposure, with numerous small, high-level diorite, gabbro and pyroxenite intrusions interpreted to represent the uppermost portions of an underlying intrusive complex. Located immediately west of Highway 3, the Project is road-accessible within a well-established mining district with existing infrastructure and support services.

References Saleken, L. (2013). Compilation Report on the Tulameen Project Property, Whipsaw Target Area, Assessment Report 33,626A, filed January 31, 2013, 149 p. Qualified Person The scientific and technical information in this news release, including the geological interpretations described herein, 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. 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. Forward-looking information includes, but is not limited to, statements regarding the geological interpretation of the magnetic anomaly as representing the western portion of a large, composite batholith that includes the intrusive complex documented at the Copper Mountain Camp; the interpretation that the magnetic anomaly may indicate that there are three structurally controlled segments of the batholith that represent a spatially distinct target for porphyry copper-gold mineralization; the planned exploration program that the Company intends to undertake in 2026, subject to financing; and that the Company will be able to exercise its options respecting the claims comprising the Wilmac 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.

Such assumptions include, without limitation, the availability of adequate funding in order to exercise the option agreements respecting the Wilmac Copper-Gold Project and complete the proposed exploration programs; receipt of all necessary permits and authorizations for planned exploration; the availability of qualified personnel and geophysical contractors; favourable weather and field conditions; access to the Project area; the accuracy of current geological interpretations; and the continued cooperation of the optionor under the terms of the option agreement. 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 continued availability of capital and financing; the ability to satisfy option earn-in requirements on the timelines contemplated; adverse weather or terrain conditions that may delay or prevent fieldwork; risks inherent in mineral exploration activities; 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 Canadian Securities Exchange nor its Regulation Services Provider 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/306501 Newsfile Corp. July 24, 2026 - 11:11 AM PDT News by QuoteMedia www.quotemedia.com