Mr. Brian Goss reports

NOVARED ENTERS STANDSTILL AGREEMENT FOR MINING SURVEILLANCE TECHNOLOGY AND APPOINTS VALENTIN SAITARLI AS CHIEF TECHNOLOGY OFFICER

Novared Mining Inc. has entered into a standstill agreement with EyeX LLC, a Florida corporation, whereby the parties will conduct mutual due diligence regarding each other's business with a view to Novared acquiring an interest in EyeX LLC's artificial intelligence surveillance technology upon acceptable terms.

EyeX LLC has developed an artificial-intelligence-based platform that monitors every surveillance camera, drone and feed without the traditional need for constant human oversight in order to identify existing and potential system and equipment risks. In the context of mineral exploration and mining, the EyeX technology can monitor exploration and production efficiency and progress; environment threats, such as fuel leaks; staff location; trespassing, vandalism and theft; and potentially rock and ore content. The platform works with existing cameras, detects risks in real time, provides mobile emergency alerts and works on remote, low-connectivity sites.

Pursuant to the terms of the standstill agreement, Novared and EyeX LLC have 30 days to complete a mutual due diligence review of each other's affairs. During this period, EyeX LLC shall not seek or entertain any third party offers to acquire an interest in its technology. Novared does not have an agreement to acquire any interest in EyeX or its technology and there is no assurance that any such agreement will be reached.

Appointment of chief technology officer

The company is also pleased to announce the appointment of Valentin Saitarli as its chief technology officer. Mr. Saitarli is an artificial-intelligence technologist and entrepreneur with more than a decade of experience developing machine learning and computer vision systems across enterprise and industrial applications. He is co-founder and chief technology officer of EyeX LLC where he leads technology strategy and product development focused on AI-powered visual intelligence solutions for mining, defence and smart city applications. Earlier in his career, Mr. Saitarli worked at Infosys's Knowledge Institute in New York, where he advised enterprise clients on artificial intelligence, automation and digital transformation initiatives centred on the company's enterprise AI platform.

Mr. Saitarli completed executive studies in artificial intelligence, generative AI and computer vision at the Massachusetts Institute of Technology and executive education at Stanford University. He graduated magna cum laude from Columbia University, where he served as a research assistant applying computational linguistics to the analysis of more than 30,000 collective bargaining agreements, contributing to research later published as Optimal Contract Design in the Wild. His work has focused on computer vision, behavioral AI, computational linguistics and transformer-based architectures with experience spanning object detection, visual analytics and enterprise AI systems.

Prior to forming EyeX LLC, Mr. Saitarli was a member of the founding leadership team at AiMerch, a computer vision company that participated in the StartX accelerator and Techstars and Google for Startups programs. Earlier roles included positions at Apple and Uber and he later founded PRAI, an artificial intelligence platform focused on neural network technologies. In 2025, he was appointed to teach a course in computer vision and process optimization at Florida International University. His work has been featured in publications including Forbes, the Wall Street Journal and Entrepreneur.

Mr. Saitarli will oversee the company's incorporation of technology initiatives into its mineral exploration operations.

In connection with the appointment, Brian Goss, president and chief executive officer of Novared, remarked, "Artificial intelligence is becoming an increasingly important tool in mineral exploration, particularly as the industry seeks to improve the efficiency and quality of geological data analysis. Valentin Saitarli brings significant experience in artificial intelligence, computer vision and enterprise AI systems and we believe his technical expertise will support the continued development and integration of AI-driven tools into our exploration workflow."

Name change

The company further announces that it intends to change its name from Novared Mining to NRED Intelligent Mining Inc. to reflect its mission to incorporate artificial intelligence technology into the mineral exploration process.

The name change will not affect the rights of the company's shareholders. There will be no consolidation of capital associated with the name change and shareholders will not be required to take any action. Issued certificates representing common shares in the capital of the company will not be affected by the name change and will not need to be exchanged. The name change is subject to regulatory approval. The company will provide an update regarding the effective date of the name change in due course.

Advisory board resignation

Commander Phil Ehr has resigned as a member of the company's advisory board. Novared thanks Mr. Ehr for his contributions and wish him the very best in his future endeavours.

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. .

We seek Safe Harbor.