Comstock Project Emerges as a District-Scale Copper-Gold Opportunity in Southern British Columbia

Executive Summary

• North Valley Resources announced a fully‑permitted, 4,462‑ha Comstock copper‑gold project in southern British Columbia, highlighting newly identified high‑priority geophysical targets and historic drill intercepts that suggest significant untapped copper‑gold potential at depth.
• The company secured a 100‑site drill permit and plans follow‑up drilling to test the continuity of mineralization beneath the Original‑Diane and South zones, leveraging recent magnetic and IP surveys that reveal a >400 m chargeability anomaly.
• Historic 1988 drilling returned multiple copper (>1 % Cu) and gold (>2 g/t Au) intercepts, including high‑grade examples (up to 27.1 % Cu and 56 g/t Au), supporting the case for systematic exploration toward a mineral resource.

Key Details

• Project Scope: 4,462 ha Comstock Project near Merritt, BC; encompasses 33 historic showings within a district‑scale copper system.
• Geophysical Findings: Recent magnetic and induced‑polarization (IP) surveys identified several previously unknown anomalies, notably a chargeability feature >400 m strike length beneath the Original‑Diane zone, open to the southwest and southeast.
• Historic Drilling (1988): 9 holes, 570 m total depth ~90 m; key intercepts include:
• DDH 88‑1 – 0.20 % Cu & 2.65 g/t Au over 8.69 m (incl. 24.7 g/t Au over 0.76 m)
• DDH 88‑2 – 0.38 % Cu & 0.72 g/t Au over 13.99 m (incl. 0.71 % Cu over 3.05 m)
• DDH 88‑3 – 0.17 % Cu & 0.18 g/t Au over 21.03 m (incl. 0.39 % Cu over 2.95 m)
• Additional holes show copper grades up to 0.57 % Cu and gold up to 1.09 g/t Au.
• Assay Highlights: 14 historic showings with >1.0 % Cu; 8 showings with >2.0 g/t Au, including four exceeding 19 g/t Au and a maximum of 56 g/t Au.
• Infrastructure: Proximity to Coquihalla Highway, existing internal roads, and nearby operating mines (Highland Valley Copper, Copper Mountain, New Afton) reduces exploration and development risk.
• Drill Permit: 100‑site drill permit now secured; enables systematic follow‑up drilling of historic zones and newly identified geophysical targets.
• CEO Quote: “With a 100‑site drill permit now secured, the Company is well positioned to advance follow‑up drilling on the historic work and assess the continuity of copper‑gold mineralization at depth.” – Ken Ellerbeck, CEO.
• Qualified Person: Technical content reviewed by Kris Raffle, P.Geo., qualified under NI 43‑101.

Notable Quotes

“With a 100‑site drill permit now secured, the Company is well positioned to advance follow‑up drilling on the historic work and assess the continuity of copper‑gold mineralization at depth.” – Ken Ellerbeck, CEO, North Valley Resources.