NRED is now committing $8.5M to explore one corridor and that changes the story

There is a big difference between holding land and committing capital to test it.

NovaRed Mining (NRED) structured the Trojan Condor deal with about $8.5M in required exploration spending to earn a 70 percent interest. About $1.5M of that is expected to be spent in 2026.

That gives a clearer picture of intent.

The company is not just expanding its footprint to over 16000 hectares. It is tying ownership to work on the ground. In early stage mining, that is where projects start to move from concept to execution.

The corridor itself adds about 4573 hectares and connects to the existing Wilmac project in the Quesnel porphyry belt, about 10 km from Copper Mountain. The idea is to test a larger system rather than a single isolated target.

The 2026 program still centers on about 80 line kilometres of IP and AMT surveys. These surveys are used to map subsurface anomalies that could point to copper bearing zones.

More ground plus committed spending means more data coming out of the same field season.

NRED's structure now shows how the company plans to move forward.

NFA.

Do you look for capital commitment like this before taking exploration projects seriously, or is geology still the main factor for you?