Mr. Brian Goss reports

NOVARED MINING IDENTIFIES LARGE HIGH-INTENSITY MAGNETIC TARGET ASSOCIATED WITH REGIONAL COPPER-GOLD INTRUSIVE SYSTEM

Novared Mining Inc. has made a geological interpretation of a large, regional, high-intensity magnetic anomaly underlying the Wilmac copper-gold project. This anomaly is interpreted to represent the western (that is, South Princeton) portion of a large, composite batholith that includes the intrusive complex documented at the Copper Mountain camp. This proposed composite batholith is interpreted to have been structurally segmented and vertically displaced across two regional-scale fault systems: the Boundary fault and the Whipsaw fault.

"The magnetic anomaly underlying the Wilmac project is not a stand-alone feature," said Brian Goss, chief executive officer of Novared Mining. "It is interpreted to be the western segment of a much larger batholith that has been pulled apart and vertically displaced by two regional faults. The Copper Mountain camp, actively producing copper and gold today, sits on the upthrown eastern block east of the Boundary fault. The Wilmac anomaly sits on the downthrown western block -- deeper, largely unexposed and largely undrilled. The Whipsaw fault represents an additional structural discontinuity that further segments the system to the west. What this means for exploration is significant: we may be looking at a single, laterally extensive magmatic system expressed in multiple fault blocks, each with independent potential to host porphyry copper-gold mineralization."

Geological interpretation

High-resolution airborne and ground magnetic surveys, together with the Volterra 3-D IP/AMT geophysical data set acquired from the previous optionee (see news release dated April 15, 2026), have enabled the development of a coherent regional geological interpretation of the large, high-intensity magnetic anomaly underlying the project.

The Copper Mountain mine and its associated intrusive complex are spatially associated with a large, broad, high-intensity magnetic anomaly east of the Boundary fault. Geological mapping in the Copper Mountain camp documents a multiphase intrusive complex at surface, comprising monzonite, syenite, diorite, gabbro and pyroxenite phases that collectively constitute a composite batholith. This batholith is the interpreted source of the intense magnetic anomaly in the Copper Mountain area and is the causative intrusive complex driving porphyry copper-gold mineralization currently being mined.

A comparably large, high-intensity magnetic anomaly underlies the Wilmac project to the west, separated from the Copper Mountain anomaly by the regionally significant Boundary fault. The Boundary fault is a west-side-down structure, interpreted to have displaced the western block downward relative to the Copper Mountain block. The magnetic anomaly west of the Boundary fault, underlying the Trojan-Condor corridor of the Wilmac project, is interpreted to represent a segment of the same batholith -- now buried to greater depth on the downthrown western side of the Boundary fault -- with comparatively small intrusive exposures documented at surface across the project (including pyroxenite, hornblendite, gabbro and diorite) interpreted to represent only the uppermost apophyses and cupolas of the underlying intrusive complex.

The Whipsaw fault is interpreted to represent an additional, subparallel structural discontinuity that further segments the batholith comprising the primary South Princeton anomaly. Gabbro and diorite intrusions mapped along Whipsaw Creek -- the Whipsaw stocks -- are interpreted as limited surface expressions of the intrusive complex in a fault block west of the Boundary fault and east of the Whipsaw fault. Soil geochemistry, IP chargeability,and AMT resistivity data from the Lamont and Trojan-Condor corridor areas (see news releases dated May 11 and May 13, 2026) are broadly consistent with this interpretation, documenting anomalous copper, fertile magma signatures (Sr/Y) and transitional magma oxidation states (V/Sc) across multiple fault blocks.

Regional context and significance

Segmentation of a large composite batholith by regional faults is a well-documented geological phenomenon. In the Copper Mountain camp, the intrusive complex is exposed at surface on the eastern, upthrown block. To the west, across the Boundary fault, the equivalent intrusive complex is interpreted to be preserved at depth, shielded from erosion by its downthrown structural position and, in the eastern portion of the project, partially covered by the Eocene Princeton Group cover sequence. This configuration is interpreted to have preserved deeper, potentially mineralized portions of the hydrothermal system that are believed to have been removed by erosion in the Copper Mountain block.

The existence of three structurally controlled segments of the batholith -- the Copper Mountain block (east of the Boundary fault), the Whipsaw block (west of the Boundary fault and east of the Whipsaw fault) and the Lamont block (west of the Whipsaw fault) -- implies that each segment may represent a spatially distinct target for porphyry copper-gold mineralization, with exploration potential interpreted to be largely independent across segments.

Next steps

Building on this regional interpretation, the company is advancing its 2026 field program, comprising four IP/AMT geophysical surveys across the North Lamont, West Lamont, Wilmac and Plume grids, an expanded soil sampling campaign, and an initial drill program subject to receipt of an approved drill permit (see news release dated June 17, 2026). The 2026 program is designed to systematically test the geophysical and geochemical response of the Lamont block, with the objective of defining drill targets that test the interpreted buried intrusive complex at depth.

Wilmac copper-gold project overview

The Wilmac copper-gold project comprises 16,078 hectares of mineral tenures located within the Quesnel porphyry belt in the Similkameen mining division of 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 proven and probable mineral reserves of 345 million tonnes grading 0.26 per cent copper and 0.12 gram per tonne gold.

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.

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.

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.

We seek Safe Harbor.