Nuvau Minerals appoints Palmer director, Sutton technical advisor
Toronto, Ontario--(Newsfile Corp. - August 4, 2026) - Nuvau Minerals Inc. (TSXV: NMC) (FSE: 73C) is pleased to announce the appointment of Dr. David Palmer to its Board of Directors and Michael Sutton, P.Geo., as a Technical Advisor to the Board, effective immediately.
The additions of Dr. Palmer and Mr. Sutton—two of Canada's most accomplished exploration geologists, each with a track record of company-defining mineral discoveries—significantly deepen the technical and strategic strength of Nuvau's Board as the Company advances the past-producing Matagami mining district, in Québec's prolific Abitibi region, toward a production restart while pursuing new base-metal and gold discoveries.
Dr. Palmer is a successful exploration geologist, having led the discovery of the multi-million-ounce Borden Gold deposit and the Black Creek chromite deposit before the sale of Probe Mines Limited to Goldcorp Inc. Most recently, Dr. Palmer advanced the Novador Gold deposit from 700K ozs to over 10M ozs before selling Probe Gold Inc. to Fresnillo plc in an all-cash transaction valued at approximately CAD$780 million.
Mr. Sutton is a Founding member of Kirkland Lake Gold and one of two geologists credited with the discovery of the South Mine Complex at Kirkland Lake—one of the highest-grade gold systems in Canadian history. Both Mr. Sutton and Dr. Palmer bring more than four decades of exploration experience across the Abitibi greenstone belt and other world-class gold camps. Their combined discovery pedigree aligns directly with Nuvau's district-scale exploration strategy in one of Canada's premier mining camps. They join at a pivotal moment for Nuvau—perfectly positioned to help shape exploration across the Company's Matagami land package of 1,380 square kilometres, shortly after the Company completed its earn-in with Glencore in March 2026 to acquire the district-scale project on a 100% basis.
"I have had the privilege of working alongside both David and Mike for several years, collaborating closely on the technical review and due diligence of numerous exploration and development opportunities as we evaluated potential acquisitions. Having worked shoulder to shoulder with them, I have seen firsthand how rigorously they assess an opportunity, the depth of their technical judgment, and the value they bring to every decision - and I am confident they will be equally invaluable to Nuvau," said Christina McCarthy, Chief Executive Officer of Nuvau. "David is one of the most successful discovery geologists of his generation, an explorationist who has found and helped build real deposits and delivered real value to shareholders. Mike is an Abitibi exploration authority whose name is synonymous with one of the great high-grade gold discoveries in Canadian history at Kirkland Lake Gold, and understands both exploration and production geology deeply. Their technical depth and discovery instincts will be invaluable as we advance the Matagami district toward a production restart while unlocking new base-metal and gold discoveries."
"Nuvau holds something genuinely rare in the resource sector—a permitted, past-producing, base metal district with real infrastructure and meaningful untapped discovery potential given the limited exploration that has been done historically," said David Palmer . "Matagami is one of Canada's largest base metals camps, and also a camp which has never been systematically explored for gold. A district like this requires a disciplined and methodical exploration approach, and I am happy to support the technical team on advancing the exploration upside."
"I've spent a large part of my career chasing high-grade discoveries in the Abitibi and the world's great gold camps, and Matagami has all the geological ingredients I look for: a prolific, proven district that remains remarkably under-explored with modern tools," said Michael Sutton . "The chance to help this team target the next generation of base-metal and gold discoveries in a camp of this quality is right up my alley and, having built my career in the Abitibi, this is right in my own backyard."
About Dr. David Palmer - Director Mr. Palmer is an economic geologist and one of Canada's most decorated mineral explorers. As President and Chief Executive Officer of Probe Mines Limited from 2003 to 2015, he led his team to two major Canadian discoveries: the multi-million-ounce Borden Gold deposit near Chapleau, Ontario, and the Black Creek chromite deposit (2009) in Ontario's Ring of Fire. Probe Mines was acquired by Goldcorp Inc. in 2015.
Following that transaction, Dr. Palmer founded and led its successor, Probe Metals Inc. (subsequently renamed Probe Gold Inc.), as President, CEO and Director, advancing the multi-million-ounce Novador gold project and assembling one of the larger exploration land packages in Québec's prolific gold belts. In early 2026, Probe Gold was acquired by Fresnillo plc for cash consideration of approximately CAD$780 million (CAD$3.65 per share, a 39% premium). Together, the Goldcorp and Fresnillo transactions underscore Mr. Palmer's repeated ability to identify, define, and unlock value—building exploration companies into assets that attract premium acquisitions by senior producers.
In recognition of his discovery record, Dr. Palmer was awarded the "Ontario Prospector Award" by the Ontario Prospectors Association (2013), named The Northern Miner's "Mining Person of the Year" (2014), and received the Prospectors & Developers Association of Canada (PDAC) Bill Dennis Award as "Prospector of the Year" (2015). He holds a B.Sc. in Geology from St. Francis Xavier University and M.Sc. and Ph.D. degrees in Economic Geology from McGill University, and is a member of the Association of Professional Geoscientists of Ontario. He also serves as Chairman and a director of Angus Gold Inc.
About Michael Sutton, P.Geo. - Technical Advisor to the Board Michael W. Sutton, P.Geo., is a geologist bringing more than four decades of exploration and mine-production expertise across the Abitibi greenstone belt (Kirkland Lake, Timmins, and Malartic) and other world-class gold camps, including the Witwatersrand of South Africa. As Chief Geologist and Assistant Manager of Kirkland Lake Gold Inc. from 2001 to 2007, Mr. Sutton is credited with the discovery of the South Mine Complex—the high-grade gold system that revitalized the historic Macassa mine and helped establish Kirkland Lake Gold as one of the world's premier high-grade gold producers. For that discovery he was awarded (along side Stew Carmichael) the Ontario Prospectors Association's "Prospector of the Year" award (2006).
He subsequently served as Vice President of Exploration of Vault Minerals Inc., which he guided to a takeover by Queenston Mining Inc., and as a director and head of exploration of Galway Resources Ltd., where he played a significant role in its approximately US$340 million acquisition by AUX. From 2014 to 2016, he was Senior Geologist at Canadian Malartic Corp. (operator of one of Canada's largest gold mines) within the Abitibi region of Québec. Mr. Sutton serves as a director and Chief Geologist of Galway Metals Inc. and serves as a director of Rupert Resources Ltd., the company behind the district-scale Ikkari gold discovery in Finland (recently acquired by Agnico). Over his career he has worked for or consulted to leading producers and explorers including Osisko Mining, Kinross Gold, Barrick Gold, Queenston Mining, Lac Minerals, and Corona.
Mr. Sutton holds an Honours B.Sc. in Geology from the University of Toronto, is a member of the Association of Professional Geoscientists of Ontario, and has been a member of the Prospectors & Developers Association of Canada since 1982. He is a "Qualified Person" as defined under National Instrument 43-101. His deep Abitibi expertise is directly relevant to Nuvau's district-scale exploration of the Matagami camp.
As Nuvau enters its next stage of exploration and development, Ewan Downie has graciously elected to step down from the Board to make room for new directors and additional operational and technical talent that will further strengthen the team for this phase of growth. Importantly, Mr. Downie is not stepping away from Nuvau. He will transition to an Advisor to the Board, remaining closely involved and continuing to lend his experience, relationships, and strategic counsel. One of Nuvau's founding directors, Mr. Downie has been integral to establishing the Company and positioning it for its current growth phase, and the Board and management are grateful for his continued partnership and guidance in this new role.
Engagement of ICP Securities Inc. for automated market making services ICP Securities Inc. ("ICP") provides automated market making services, including use of its proprietary algorithm, ICP Premium®, in accordance with the policies of the TSX Venture Exchange ("TSXV") . ICP will be paid a monthly fee of C$7,500, plus applicable taxes. The market making services agreement (the "Agreement") between the Company and ICP has an effective date of July 1, 2026, and for an initial term of four (4) months (the "Initial Term") with automatic renewals for subsequent one (1) month terms (each month, an "Additional Term"). The Agreement may be terminated by either party with at least thirty (30) days written notice prior to the end of the Initial Term or an Additional Term, as applicable. ICP and its clients may acquire an interest in the securities of the Company in the future. ICP and the Company are arm's length parties and have no other agreements other than the Agreement. ICP's market making activity will be primarily to assist in establishing a fair and orderly market for the shares of the Company, with a view to reducing trading volatility and correcting temporary imbalances in the supply and demand of the Company's shares. ICP will be responsible for the costs it incurs in buying and selling the Company's shares, and no third party will be providing funds or securities for the market making activities.
The engagement of ICP to provide market making services to the Company is subject to acceptance of the TSXV.
About ICP Securities Inc. ICP Securities Inc. is a Toronto based CIRO dealer-member that specializes in automated market making and liquidity provision, as well as having a proprietary market making algorithm, ICP Premium®, that enhances liquidity and quote health. Established in 2023, with a focus on market structure, execution, and trading, ICP has leveraged its own proprietary technology to deliver high quality liquidity provision and execution services to a broad array of public issuers and institutional investors.
For further information, please contact: Christina McCarthy Chief Executive Officer, Nuvau Minerals cmccarthy@nuvauminerals.com | 416-712-6151
About Nuvau Minerals Nuvau Minerals (TSXV: NMC) is a Canadian mining and exploration company advancing a historic mining camp toward a production restart while generating new critical metal and gold discoveries. Its 100% owned flagship asset is the past-producing Matagami mining district in northern Québec. Nuvau controls a 1,380 square kilometre land package and benefits from access to permitted mining infrastructure, including an option on a 3,000 tpd concentrator. The Company's strategy is to combine district-scale exploration targeting zinc-copper VMS deposits and newly recognized gold potential with resource growth and project development.
Cautionary Statements This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends", "expects" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this news release contains forward-looking statements concerning: the completion and timing of any remaining post-closing filings and registrations with governmental authorities; the timing and form of payments contemplated by the Earn-In Agreement (including any election to satisfy a portion of such payments in Common Shares), and if applicable, the receipt of any required stock exchange and other regulatory approvals; the potential future acquisition of the excluded property and satisfaction of applicable conditions related thereto; and the timing and ability of the Company to advance the Property to production decision. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management, in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances. Readers are cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Factors that could cause actual results to differ materially from such forward-looking statements are set out in the Company's public disclosure record available on SEDAR+ ( www.sedarplus.ca ) under the Company's issuer profile. Readers are further cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by the management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
The forward-looking statements contained in this news release are made as of the date of this news release, and are expressly qualified by the foregoing cautionary statement. Except as expressly required by securities law, the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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August 4, 2026 - 4:05 AM PDT
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