Mr. Brian Goss reports

NOVARED MINING EXPANDS WILMAC COPPER-GOLD PROJECT WITH OPTION OF TROJAN-CONDOR CORRIDOR

Novared Mining Inc. has entered into a property option amending agreement dated April 30, 2026, whereby it may acquire a 70-per-cent interest in an additional five mineral tenures comprising approximately 4,573.82 hectares, known collectively as the Trojan-Condor corridor. These additional claims are adjacent to the nine claims that comprise Novared's existing Wilmac copper-gold project and expand the project size to a total of 16,077.76 hectares.

To acquire a 70-per-cent interest in the Trojan-Condor corridor claims, the company must pay the optionor $100,000 and issue three million units in its capital to the optionor upon Canadian Securities Exchange acceptance for filing. Each unit will consist of one common share and a two-year transferable share purchase warrant entitling the optionor to acquire an additional common share of the company for $1.80. The units, when issued, will be subject to a hold period of four months and one day from issuance. The company must pay an additional $150,000 to the optionor by March 31, 2027, and finance $8.5-million in exploration expenditures on the claims, including $1.5-million in stages in 2026 to exercise the option. The 70-per-cent interest in the claims that Novared may acquire pursuant to the option is subject to a 2-per-cent net smelter return royalty. The company may purchase one-half of the NSR (that is, 1 per cent) for a one-time payment of $2-million. Upon the exercise of the option, the company must pay the optionor an annual advance royalty payment of $100,000 per year so long as the company retains its interest in the property.

"The Trojan-Condor corridor consolidates the eastern side of our Wilmac copper-gold project and brings with it a substantial historical exploration data set," said Brian Goss, chief executive officer of Novared. "We now control a contiguous land position over a magnetic and geophysical signature interpreted to reflect a buried intrusive complex analogous in setting to the Copper Mountain camp, 12 kilometres to the east. Our priority is to integrate the historical IP, magnetics, soils and drill data with our 2026 geophysical program at Wilmac and define the most compelling drill targets across the consolidated project."

Trojan-Condor corridor claims

The Trojan-Condor corridor claims benefit from high-resolution airborne geophysics, revealing strong magnetic anomalies analogous to those associated with the producing Copper Mountain camp located 12 kilometres to the east. These signatures suggest the presence of a comparable large, composite igneous complex, with the Copper Mountain anomaly displaced upward relative to the Wilmac anomaly by the regionally significant Boundary fault, suggesting potential to identify one (or more) buried porphyry copper deposits on the claims. Several gabbro-diorite intrusives have been mapped along Whipsaw Creek (Massey 2010), which are the rock types spatially associated with copper-bearing mineralization and alteration identified on the property and at the Copper Mountain mine.

Previous operators have completed considerable exploratory work on the Trojan-Condor corridor claims, including:

• 2011 3-D induced polarization survey (Rockel, 2011, and Thibaud, 2012): The survey covered the Whipsaw Stocks, partially overlain by the Eocene Princeton group cover sequence, accompanied by porphyry-style alteration and mineralization. Results provide compelling indirect supporting evidence for an interpreted intrusive igneous complex along the northern margin of the prominent, high-intensity magnetic anomaly similar to that underlying the Copper Mountain camp. Geological mapping in the Copper Mountain area documents an intrusive complex exposed at surface that is associated with the porphyry-style alteration and mineralization comprising the Copper Mountain mine. Magnetic data from the Whipsaw area were interpreted to suggest a similar complex at depth.
• 2014 drill program: Four drill holes (labelled WS14-001 to WS14-004) totalling approximately 728 metres were completed on the Trojan-Condor corridor claims in 2014 (Crooker, 2015). The relatively shallow holes (between 135 and 215 metres deep) targeted copper showings and induced polarization chargeability anomalies identified by the 2011 survey. Although results were modest, they are interpreted to document a classic copper-gold alkalic porphyry signature: epidote-carbonate-quartz veinlets, thin stockworks with pyrite plus or minus trace chalcopyrite, and patchy to locally pervasive epidote and sericite alteration. The holes are interpreted to have been collared above a large hydrothermal system associated with multiple copper-bearing porphyry centres. Driving the interpreted hydrothermal system is a buried intrusive complex, having porphyry-style alteration, porphyry-style networks of sulphide veins and porphyry-style intervals of copper mineralization. In addition, evidence of faulting and the presence of younger Princeton group cover rocks are interpreted to have obscured deeper, potentially better-mineralized portions of the hydrothermal system to the east.
• Re-examination and further sampling of the 2014 drill core in 2024 returned additional valuable information and quantitative analytical results, as follows:
  • Weakly to very locally moderately well-developed vein stringers and stockworks (less than or equal to 0.5 metre), interpreted to be consistent with porphyry-style mineralization;
  • Intervals consisting of porphyry-style mineralization (that is, thick, vein-controlled to stockwork mineralization) rather than individual narrow, vein-style mineralization;
  • Further analysis returned thicker, porphyry-style results for copper, confirming the high value of "953 ppm copper ... across 3.27 metres of diorite containing a weak quartz-carbonate-pyrite stockwork zone" with a weighted-average copper grade of 1,084 ppm over 3.13 metres between 97.87 and 101.00 metres; two additional intervals returned moderately anomalous values: (1) 262 parts per million copper over 24.16 metres between 87.70 and 111.86 metres in WS14-001; and (2) 381 ppm copper over 26.83 metres between 83.00 and 111.86 metres in WS14-002; and
  • More and varied alteration styles present throughout the core, dominated by sericite and epidote alteration; gabbro, pyroxenite and diorite exhibit rare to weak patchy, with more prevalent, but variable, selective replacement and pervasive epidote alteration with traces of chalcopyrite and are occasionally cut by narrow (less than one to two centimetres thick) carbonate, epidote and quartz veinlets with traces of chalcopyrite.
• Mapping and relogging the 2014 drill core provide evidence of a potential multiphase intrusive complex, including diorite and leucocratic to melanocratic gabbro, grading into pyroxenite.
• 2023 soil survey: The goal of this survey was to identify locations anomalous for metals such as copper, gold and silver, as well as pathfinder elements potentially associated with the Whipsaw fault, small gabbro to diorite intrusive bodies and, ideally, a porphyry-type signature. During the survey, several coincident copper-gold-silver soil anomalies were identified. Interiors of the Whipsaw Stocks display predominantly background values, while stock margins, particularly on the western and northwestern margins, and the immediately adjacent Nicola rocks, showed repeated, multielement anomalies. The strongest copper and aligned gold-silver anomalies are located where faults intersect and along stock contacts. Accordingly, recommended follow-up exploration would focus mapping, further sampling and drilling along stock margins and fault intersections. It is also recommended that the company extend the surveys southwest where anomalies remain open. The soil survey results are interpreted to indicate a mineralized system associated with the Whipsaw intrusions, with fluids escaping preferentially along their margins rather than along the main Whipsaw fault.

Summary

In simple terms, the property is composed of Nicola group volcanic and subordinate sedimentary units subsequently intruded by several dioritic and gabbroic intrusions, most of which are relatively small, with several larger bodies exposed along Whipsaw Creek and immediately south of the Tulameen River (that is, the Rice Stock). Other small exposures include pyroxenite, hornblendite and/or ultramafic. As a working hypothesis, the larger exposures are interpreted as small stocks exposed by more extensive erosion along Whipsaw Creek whereas the smaller exposures are interpreted to represent the uppermost portions of vertically oriented apophyses and/or cupolas exposed at higher elevations. These intrusive exposures are interpreted to have all been sourced from underlying blind intrusions and/or an interpreted more extensive intrusive complex at depth.

Therefore, in contrast to the intrusive complex exposed at surface at the Copper Mountain mine, the property is interpreted to be down dropped (westside down) across the Boundary fault, a regional-scale fault which appears to have dissected the large, composite Copper Mountain mine/South Princeton complex into two separate and distinct complexes. If correct, the intrusive relationships, thermal alteration and resulting alteration assemblages exposed in the Copper Mountain mine camp are considered to be broadly analogous to those expected at depth underlying the property. Furthermore, the intrusive exposures mapped to date on the property are interpreted to represent the uppermost portions of the intrusive complex west of the Boundary fault.

Wilmac copper-gold project overview

The Wilmac project comprises 16,078 hectares of mineral tenures located within the Quesnel porphyry belt in south-central 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. According to Hudbay Minerals Inc., Copper Mountain hosts proven and probable mineral reserves of 345 million tonnes grading 0.26 per cent copper and 0.12 gram per tonne gold (source: 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 Canadian Institute of Mining, Metallurgy and Petroleum definition standards incorporated by reference in National Instrument 43-101). The company has not independently verified this information. Readers are cautioned that mineralization on the Copper Mountain property is not necessarily indicative of mineralization on the Wilmac project.

Qualified person

The scientific and technical information in this news release has been reviewed and approved by Rick Walker, PGeo, a qualified person as defined by National Instrument 43-101. Mr. Walker is not independent of the company within the meaning of NI 43-101.

About Novared Mining Inc.

Novared is a mineral exploration company focused on the identification, acquisition, exploration and development of copper-gold porphyry projects in British Columbia. The company's optioned Wilmac copper-gold project comprises 14,015 hectares located within the Quesnel porphyry belt in the Similkameen mining division, southwest of Princeton and approximately 10 kilometres west of Hudbay Minerals' producing Copper Mountain mine.

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.

We seek Safe Harbor.