NovaRed Enters Standstill Agreement for Mining Surveillance Technology and Appoints Valentin Saitarli as Chief Technology Officer

About this update from Novared Mining Inc.

Vancouver, British Columbia--(Newsfile Corp. - July 13, 2026) - NovaRed Mining Inc. (CSE: NRED) (OTCQB: NREDF) (" NovaRed " or the " Company ") is pleased to announce that it 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, defense, and smart city applications. Earlier in his career, Mr. Saitarli worked at Infosys' Knowledge Institute in New York, where he advised enterprise clients on artificial intelligence, automation, and digital transformation initiatives centered 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.

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