NovaRed Mining evaluates iron carbonate-silica zones at Wilmac Copper-Gold

Vancouver, British Columbia--(Newsfile Corp. - August 3, 2026) - NovaRed Mining Inc . (CSE: NRED) (OTCQB: NREDF) (" NovaRed " or the " Company ") is pleased to report the interpretation of two zones of iron carbonate-silica alteration previously mapped on the Plume grid of its Wilmac Copper-Gold Project (the "Project"). Government geologists mapped the two zones in 2009; they cover approximately 115 hectares and 133 hectares. The Company has not independently verified that mapping. Iron carbonate with silica forms at low temperature. In porphyry copper-gold systems that assemblage typically occupies the shallowest level of the hydrothermal system, above any mineralized core at depth. The Company has separately interpreted a large magnetic anomaly beneath the Project as a buried intrusive complex (see news release dated July 23, 2026). Subject to financing, the Company proposes an induced polarization and audio-magnetotelluric ("IP/AMT") survey over the Plume grid during the 2026 field season, one of four such surveys contemplated for the year.

"We have two alteration zones on the Plume grid sitting directly above a magnetic anomaly that we have already interpreted as a potential buried intrusive complex," commented Brian Goss, Chief Executive Officer of NovaRed Mining Inc. "That combination is what a geophysical survey would test. Carbonate-silica alteration on its own is common enough in this belt that it would not have justified the work. There are really two possibilities. Either this is the shallow expression of an older porphyry system at depth, or it is a much younger epithermal system sitting in the cover rocks above it. The survey and the follow-up sampling are designed to tell us which."

What Was Mapped on the Plume Grid

Two spatially distinct zones of iron carbonate-silica alteration were mapped within the area now covered by the Plume grid