Mr. Brian Goss reports

NOVARED REPORTS UP TO 1.67% COPPER AT WILMAC; UPDATED MODEL IDENTIFIES MULTIPLE PORPHYRY TARGETS APPROXIMATELY 10 KM FROM COPPER MOUNTAIN

Novared Mining Inc. has provided an update to the exploration model for its Wilmac copper-gold project in British Columbia's Quesnel porphyry belt, approximately 10 kilometres west of Hudbay Minerals Inc.'s producing Copper Mountain mine. Further to the company's news releases dated May 13, June 11, July 24, Aug. 3 and Aug. 6, 2026, additional geological, geochemical and geophysical data collected between 2023 and 2026 have significantly strengthened the interpretation that Wilmac may host multiple alkalic copper-gold porphyry systems associated with a large intrusive complex at depth.

Key highlights

• Results up to 1.67 per cent copper and 0.433 gram per tonne gold from previously excavated trenches at the Wilmac Minfile occurrence, average 0.639 per cent copper from nine grab samples;
• Multiple interpreted porphyry pipes and cupolas extending toward surface from deeper intrusive sources (that is, Lamont grid);
• Two interpreted parent magmas identified by AMT geophysics on Lamont grid;
• Porphyry-style alteration, veining and mineralized stockwork identified at surface (Wilmac trenches) and drill core (Trojan-Condor corridor);
• Defined exploration targets approximately 200 to 550 metres below surface;
• A large magnetic anomaly interpreted as a composite intrusive complex.

"Work completed since 2023 has transformed our understanding of the Wilmac project," said Brian Goss, chief executive officer of Novared Mining. "We now have significant copper-gold mineralization at surface, porphyry-style veining and alteration, multiple geophysical targets at depth, and a geological model that is interpreted as potentially linking Wilmac to the broader intrusive complex associated with Copper Mountain."

Multiple potential porphyry systems at depth

Novared's updated model targets a predominantly buried, multiphase alkalic copper-gold intrusive complex. Alkalic copper-gold porphyry systems are the same general deposit type mined at Copper Mountain and at several other major British Columbia copper-gold deposits.

Three geophysical surveys completed at Wilmac are interpreted to show multiple pipe- and cupola-shaped features extending upward from deeper intrusive sources. The mineralization and alteration exposed at surface may represent the upper levels of larger porphyry systems below. Supporting evidence is interpreted to include:

1. Multiple intrusive rock types at surface. Pyroxenite, gabbro and diorite occur together across the project, suggesting multiple phases of intrusive activity.
2. Multiple generations of gabbro. Light- and dark-coloured gabbros are interpreted to indicate repeated magmatic pulses with different compositions.
3. Two interpreted parent magmas. AMT geophysics on the Lamont grid images the subsurface to approximately 1,500 metres depth and is interpreted to show two deep intrusive bodies with pipe-like features extending toward surface.
4. Large magnetic system. A strong regional magnetic anomaly beneath Wilmac is interpreted as a large composite intrusive complex subsequently segmented by regional faulting, including the Boundary Fault.

Wilmac and Copper Mountain -- approximately 10 kilometres apart

Copper Mountain is Novared's most important geological comparison because the two projects are interpreted to occur within portions of the same broader intrusive complex, separated by the regionally significant Boundary Fault. The Copper Mountain mine is exploiting multiple Alkalic Cu-Au occurrences; the Wilmac project involves exploring for, and currently evaluating, multiple Alkalic Cu-Au occurrences.

Copper Mountain hosts proven and probable mineral reserves of approximately 345 million tonnes grading 0.26 per cent copper and 0.12 g/t gold, according to Hudbay Minerals Inc.'s March 27, 2026, reserve and resource update.

The Boundary Fault may have displaced the intrusive rocks underlying the Wilmac project to greater depths compared with Copper Mountain. This interpretation is important because the deeper potassic core of an alkalic porphyry system is commonly associated with stronger copper-gold mineralization. This deeper intrusive environment may be better preserved at the Wilmac project. This interpretation remains to be tested by drilling.

Six major B.C. porphyry systems provide geological comparisons

Copper Mountain -- approximately 10 km east

The closest geological comparison and interpreted by the company to occur within the same broader intrusive complex as the Wilmac project.

New Afton -- approximately 220 km north

Demonstrates the importance of pipe-shaped porphyry systems and deeper drilling. Several Wilmac project geophysical responses are interpreted as potential pipe- or cupola-shaped targets.

Ajax -- approximately 220 km north

Contains two separate intrusive centres. The two parent magmas interpreted beneath the Wilmac project suggests the possibility of a similar multicentre configuration.

Mount Milligan -- approximately 500 km north

Demonstrates significant copper-gold mineralization in an alkalic porphyry setting and the potential for copper-gold skarn mineralization.

Red Chris and Galore Creek -- approximately 900 km northwest

Demonstrate the potential scale of British Columbia copper-gold porphyry systems. In contrast to Galore Creek, the Wilmac project has the advantage of year-round road access and proximity to operating infrastructure.

2023 to 2026 work significantly upgrades Wilmac

The exploration picture at Wilmac has changed substantially since 2023. Recent work has added stronger surface copper-gold results, porphyry-style alteration and veining, deeper geophysical targets, and a new regional geological model.

A clearer exploration target

Based on the 2023 to 2026 data sets, the Wilmac project has moderate to good copper-gold porphyry potential, subject to confirmation through additional geophysical surveys and deeper drilling.

Strong surface mineralization. Previously excavated trenches averaged 0.639 per cent copper, with results reaching 1.670 per cent copper and reported gold results up to 0.433 g/t.

Porphyry-style geology. Alteration, epidote, AB-type porphyry veins and stockwork have been identified.

Multiple targets at depth. IP and AMT geophysics have defined interpreted targets approximately 200 to 550 metres below surface.

Two interpreted parent magmas. AMT results are interpreted to suggest multiple deeper intrusive sources.

Multiple porphyry centres. Geophysical results from the Wilmac, Trojan-Condor corridor and, in particular, the Lamont grid are interpreted to indicate the possibility of more than one porphyry centre.

Regional geological connection. Novared interprets Wilmac as occupying a fault-offset portion of the broader intrusive complex associated with Copper Mountain.

Excellent infrastructure. Wilmac is road-accessible year-round and approximately 10 kilometres from an operating copper-gold mine.

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, 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. The interpretations described above are conceptual and rely in part on historical, third party data that the company has not independently verified. No mineral resources or mineral reserves have been identified on the project.

About Novared Mining Inc.

Novared Mining 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.

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