Nobel Provides Update on Cuprita And Pampa Austral Drilling and Anais Project, Chile

Executive Summary

• Nobel Resources completed drilling at Pampa Austral and commenced drilling at its core Cuprita project, while terminating option agreements for Anais and Pampa Austral due to downgraded exploration potential.
• Drilling at Pampa Austral failed to replicate historical high-grade copper results reported by Farwest Mining, with geophysical anomalies attributed to pyrite rather than significant copper mineralization.
• Management will redirect all future exploration focus and resources to the Cuprita and Janett projects, citing strong porphyry copper alteration zones and untapped exploration potential.

Key Details

• Pampa Austral Drilling: Two drill holes completed to verify historical Farwest Mining (2024) copper results; drilling failed to intersect high copper mineralization or the expected geological environment.
• Pampa Austral Geophysics: The Induced Polarization (IP) anomaly at the site was explained by stringers and disseminations of pyrite over several meters of core length, ruling out significant copper deposits.
• Anais Project Termination: Field work uncovered previously unreported drill hole casings near historical high-grade reports, limiting discovery potential and prompting the decision to halt exploration.
• Cuprita Project Drilling: Drilling has commenced; geophysical and remote sensing surveys identified intense albitization, biotite destruction, and strong IP chargeability anomalies characteristic of high-temperature porphyry copper systems.
• Strategic Shift: Option agreements for Anais and Pampa Austral were terminated effective June 15, 2026. The company will focus exploration efforts on Cuprita and Janett in the coming months.
• QA/QC & Compliance: Core samples are split via electric rock saw and analyzed by independent Andes Analytical Assays. Industry-standard QA/QC procedures include certified reference materials, blanks, and duplicates inserted per sample intervals, with full NI 43-101 chain-of-custody compliance.

Notable Quotes

• Vernon Arseneau, CEO: “Based on my decades of experience in this region, we rarely see such intensely altered porphyry systems with only the few drill holes completed by Nobel and no other drilling. These are large complex systems and require a systematic approach and some persistence to solve geometry.”
• Vernon Arseneau, CEO: “The results obtained at Pampa Austral and Anais have downgraded the potential at those projects in our estimation, however, we remain committed to continue exploration at Cuprita and Janett. Both projects have strong exploration potential and we intend to focus on exploring these during the coming months.”