NovaRed Mining Inc. announced that it has received "No Permit Required" authorizations for four combined Induced Polarization /Audio-Magnetotelluric ("IP/AMT") geophysical surveys on its 100%-optioned Wilmac copper-gold project ("Wilmac" or the "Project"), located within the Quesnel porphyry belt in the Similkameen Mining Division of British Columbia, approximately 10 kilometres west of Hudbay Minerals Inc.'s producing Copper Mountain Mine. The proposed 2026 program will include four geophysical surveys on four survey grids - North Lamont, West Lamont, Wilmac, and Plume - designed to systematically expand and infill the Company's geophysical coverage along Lamont Ridge. Two of the four surveys (North Lamont and West Lamont) will be merged with the previously completed Lamont survey to create a single, integrated dataset covering the interpreted alteration and mineralized halo of the western portion of the West Lamont Intrusive Complex.
A third survey will complete the Wilmac survey, which the Company partially completed in November 2025. The fourth survey, Plume, targets two separate and extensive iron carbonate-silica alteration zones approximately four kilometres to the south-southwest of the Wilmac survey. The combined IP/AMT survey method provides both near-surface chargeability mapping (IP) and deep resistivity imaging to depths exceeding 1,500 metres (AMT), enabling the Company to evaluate porphyry copper-gold targets from surface to significant depth across the survey area.
Each survey will employ multi-line acquisition sets comprising receiver lines and adjacent transmitting lines. Audio-Magnetotelluric data will be collected simultaneously with IP data by deploying high-sensitivity induction magnetometers during IP transmitter off-times. This dual-method approach yields complementary chargeability and resistivity models without requiring additional field mobilization.
Longer lines will be surveyed in two overlapping segments to ensure full data coverage. All surveys will be completed with minimal ground disturbance, limited to clearing undergrowth and deadfall along east-west oriented survey lines using hand tools. The Wilmac grid covers three previously exposed trenches from which porphyry-style alteration and mineralization have been documented, including the WILMAC MINFILE occurrence.
Analytical results for copper from 2023 surface samples ranged between 200 ppm (two values returning 1.235% and 1.670%), with an average of 6,390 ppm (0.639% copper) across nine samples. Mineralization is hosted in coarse-grained to pegmatitic hornblendite and is characterized by epidote alteration, chalcopyrite in quartz-carbonate veins with weakly to moderately developed stockworks, and possible AB-type porphyry veins (quartz-carbonate veins with sulphide cores). The full Wilmac grid comprises 10 east-west lines totaling 21.5 line-km and covering approximately 371 hectares.
An initial partial survey of 5 lines (totaling 9.95 line-km and covering approximately 195 hectares) was completed in the southern portion of the grid before being curtailed by snow cover and limited road access in early November 2025. That partial survey documented a high-chargeability anomaly spatially associated with the trench area, hosting porphyry-style alteration and high-grade mineralization, along with several similar anomalies of larger apparent volume at depth. Completion of the remaining five survey lines is a high priority for the 2026 field season.
The proposed North Lamont grid is located north of the previously completed Lamont Grid and within the interpreted alteration and mineralized halo at the west end of the West Lamont Intrusive Complex. Two soil lines along forestry roads returned anomalous copper values. The proposed survey will consist of seven east-west survey lines between 1.36 and 2.53 km in length, totaling 14 line-km and covering approximately 179 hectares.
Data will be merged with the existing Lamont dataset. The proposed West Lamont grid is located west of the previously completed Lamont Grid and is also within the interpreted alteration and mineralized halo at the west end of the West Lamont Intrusive Complex. The proposed survey will consist of four east-west survey lines between 3.52 and 3.85 km in length, totaling 14.94 line-km and covering approximately 222 hectares.
Data will be merged with the North Lamont and existing Lamont datasets to create a single integrated survey. Located approximately 4.0 km south-southwest of the Wilmac grid, the Plume survey covers two relatively large areas of extensive iron carbonate-silica alteration mapped by Massey et al. (2008), interpreted to represent hydrothermal alteration driven by a large underlying intrusive complex.
The proposed survey totals nine east-west lines between 1.73 km and 4.19 km in length, totalling approximately 29.53 line-km and covering approximately 539 hectares. A combined IP/AMT survey previously completed by the former operator on the Lamont Grid is interpreted to have documented an intrusive complex comprising two parent magmas. The eastern portion of the grid is characterized by high-chargeability anomalies near surface that correspond with anomalous surface soils and extend to significant depth as delineated by the AMT survey.
The western portion is characterized by a high-resistivity anomaly associated with a lower level of surface soil anomalies. The two interpreted magmas interfinger, with comparatively narrow extensions toward surface that are interpreted as potential porphyries. The Wilmac project comprises 11,504 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, which currently hosts a Proven and Probable Mineral Reserve of 702 Mt at 0.24% Cu. 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.
