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Nobel Provides Update on Cuprita Project, Announces Plan to Drill Pampa Austral Project, Chile and Changes to Management and Board

Nobel Resources Cuprita Drilling Confirms Porphyry System But Downgrades Grade Expectations Amidst CEO Transition

By The Northwire Desk — AI Analysis Apr 23, 2026 · 07:00 NBLC · 0.05 Nobel Resources Corp.

Executive Summary

Cuprita Project Results: Initial drill results from holes 3, 4, and 5 confirm a mineralized porphyry system with anomalous copper values (0.1% to 0.2%) within a pyrite shell. No high-grade zones identified yet. Lithocap area estimated at least 2 km x 1 km under overburden.
Management Changes: Vernon Arseneau (formerly COO) appointed as new CEO following the resignation of interim CEO Larry Guy. Wanda Roque replaces Damian Lopez as Corporate Secretary. Denis Archambault appointed to Board.
Exploration Plans: New 23 km Pole-Dipole IP survey and WorldView-3 satellite imagery study underway at Cuprita. Pampa Austral project reviewing historical data for new drill program; permits submitted to Sernagiomin.
Context vs History: This update follows the March 9, 2026 announcement where XRF measurements suggested up to 2.9% Cu in hole CUP004. The April results (0.1%-0.2%) are significantly lower than the handheld XRF hype but confirm the geological system exists.

Material Impact

Grade Disappointment: The confirmed assay values (0.1%-0.2%) are materially below the initial XRF claims (up to 2.9% Cu) made in March. This correction of expectations explains the stock's decline from $0.17 (Jan high) to $0.05 (April low).
Leadership Turnover: The resignation of Larry Guy, who was Chairman and CEO during the discovery phase, introduces governance uncertainty. However, Vernon Arseneau was COO and led the exploration team, suggesting continuity rather than a strategic pivot failure.
Capital Needs: The company raised $2.5M in Jan 2026 to fund this exact drilling program. The results validate the capital deployment but do not yet justify further immediate dilution without higher-grade targets.
Market Reaction: The stock price had already corrected from March highs ($0.12) down to $0.05 prior to this release, indicating the market anticipated lower grades or management issues. The news confirms the bearish sentiment rather than introducing a new shock.

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Company Overview

Company Strategy: Build a 100% owned copper portfolio in northern Chile via low-cost exploration properties.
Flagship Project: Cuprita Copper Project (Antofagasta Region, Chile).
Project Status: Drill-ready; first diamond drill program completed in early 2026.
Geology: Located within the Paleocene Porphyry Copper Belt. Identified leach cap, soil anomalies (>300% above background), magnetic lows, and tourmaline breccias.
Other Assets: Janett Project (historic oxide production), Pampa Austral (IOCG target), Anais IOCG Project.
Qualified Person: Dr. David Gower, P.Geo., consultant to Nobel Resources.

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