Kamloops, British Columbia--(Newsfile Corp. - October 29, 2026) - North Valley Resources Ltd. (CSE: NVR) ("North Valley" or the "Company") is pleased to announce that an induced polarization ("IP") geophysical survey crew has mobilized to the Company's 100%-owned Comstock Copper-Gold Project in southern British Columbia.
The survey is designed to advance exploration targeting by collecting IP data across areas of historical copper-gold mineralization, where historical rock grab sampling and drilling has returned high-grade results (Figure 1). The IP survey consists of at least eight east-west lines totaling approximately 20 line-kilometres.
The program will connect previously identified chargeability anomalies flanking a magnetic high in an area where historical surface sampling has returned high-grade values, including up to 27.19% copper ("Cu") (Sample Jer-1098; Assessment Report 12799) at the Original-Diane Zone and 56.71 grams per tonne ("g/t") gold ("Au") (Sample R2-Victoria; Assessment Report 17721) at the Victoria Zone. Recent short-wave infrared (SWIR) analysis has also identified phyllic alteration interpreted to occur closer to the core of the mineralized system and closely associated with historical chargeability anomalies (see April 15, 2026 News Release).
By evaluating the relationship between these geophysical anomalies, known surface mineralization and alteration patterns, North Valley aims to better define the extent and continuity of the broader copper-gold system, assess its potential at depth and identify priority drill targets.
Cameron Dorsey, CEO of North Valley Resources, comments: "We are excited to advance the Comstock Project with this IP survey, which aims to connect previously identified chargeability anomalies in an area of significant surface copper-gold mineralization. This program will build on existing drill results and other historical data to better understand the broader mineralized system and refine priority drill targets across key mineralized zones."
Historical Copper-Gold Mineralization Provides Exploration Rationale
The Comstock Project hosts multiple copper-gold showings, with historical exploration identifying significant mineralization at the Original-Diane, Victoria, South, Lowell, Charmer, Island and Comstock zones (Figure 1).
In addition to high-grade grab samples, trench results of 1.06 g/t Au and 0.31% Cu over 3.38 metres ("m") at the Lowell Zone and 0.2% Cu over 7.0 m at the South Zone (Assessment Report 16058A) highlight the widespread nature of copper-gold mineralization identified at surface and provide important geological vectors for further exploration. Sample locations are provided in Table 1.
Historical drilling at the Original-Diane Zone in 1988 was limited to approximately 570 m across nine shallow holes, with only 22% of the historical core assayed. Notable intersections included 0.38% Cu and 0.72 g/t Au over 13.56 m (STR-88-2), 0.53% Cu and 0.36 g/t Au over 12.80 m (STR-88-4), and 0.20% Cu and 2.65 g/t Au over 8.69 m, including 24.7 g/t Au over 0.76 m (STR-88-1) (Tables 2 and 3).
Importantly, the historical drilling is interpreted to have tested the northern margins of a shallow, greater-than-400-metre-long chargeability anomaly, leaving the broader geophysical feature largely untested. The combination of high-grade surface mineralization, historical drill intersections and a largely untested chargeability anomaly provide a compelling rationale for additional exploration.
Historical results have not been independently verified by North Valley Resources and should not be relied upon as necessarily indicative of mineralization on the property. True widths of historical drill intersections are unknown.
Advancing Drill Targets at Comstock Toward Drill Target Definition
The current IP survey represents a further step in North Valley's systematic evaluation of the property. By combining modern geophysical data with historical exploration results, the Company aims to further define the geometry and potential scale of the mineralized system and prioritize targets for follow-up exploration and drilling.
North Valley will provide further updates as the survey progresses and results become available.
About the Comstock Project
Located approximately 10 kilometres south of Merritt, British Columbia, the Comstock Project lies within the Quesnel Terrane, a prolific geological belt that hosts several significant copper-gold deposits and producing mines. The Project benefits from road access and an established history of exploration, including historical drilling and numerous documented mineral showings.
Figure 1: Comstock Project showing historical copper-gold showings and high-grade grab sample locations in relation to previously identified IP chargeability anomalies and the magnetic high. The 2026 IP survey is designed to connect these anomalies, investigate historical mineralized zones such as Victoria that lack modern geophysical coverage, and evaluate the potential extension of chargeability between the Leadville and Charmer showings, an area that remains untested by drilling.
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Table 1: Rock and trench sample numbers and locations
| Target Zone | Sample ID | Easting (m) | Northing (m) | UTM |
| Original-Diane | Jer-1098 | 658281 | 5545444 | Zone 10 |
| Victoria | R2-Victoria | 658817 | 5545151 | Zone 10 |
| Lowell | Trench T86-13, samples 09696-09698 | 658358 | 5544975 | Zone 10 |
| South | Trench T86-12, samples 05632-05638 | 658222 | 5545225 | Zone 10 |
Table 2: Results obtained from Nelles, 1988 (AR17721). *Drill core assays were capped at 10,000 ppm Cu (1%) and approximately only 22% of the total 570 metres of core was assayed. True width is approximately 80% of reported intervals.
| Drillhole ID | Length (m) | Interval (m)1 | Grade |
| STR-88-1 | 68.28 | 58.97-67.66 | 0.20% Cu and 2.65 g/t Au over 8.69 m, incl. 24.7 g/t Au over 0.76 m |
| STR-88-2 | 76.96 | 61.08-74.64 | 0.38% Cu and 0.72 g/t Au over 13.56 m, incl. 0.71% Cu over 3.05 m |
| STR-88-3 | 90.83 | 69.19-90.22 | 0.17% Cu and 0.18 g/t Au over 21.03 m, incl. 0.39% Cu over 2.95 m |
| STR-88-4 | 56.69 | 36.88-49.68 | 0.53% Cu and 0.36 g/t Au over 12.80 m |
| STR-88-5 | 47.83 | 39.32-47.55 | 0.49% Cu and 0.52 g/t Au over 8.23 m |
| STR-88-6 | 56.69 | 12.19-16.76 | 0.41% Cu and 0.14 g/t Au over 4.57 m |
| 45.72-53.04 | 0.11% Cu and 0.07 g/t Au over 7.32 m | ||
| STR-88-7 | 80.16 | 13.72-17.68 | 0.57% Cu and 0.32 g/t Au over 3.96 m |
| 59.59-62.99 | 0.12% Cu and 0.07 g/t Au over 3.4 m | ||
| 74.22-78.35 | 0.13% Cu and 0.07 g/t Au over 4.13 m | ||
| STR-88-8 | 55.47 | 12.95-18.29 | 0.22% Cu and 1.09 g/t Au over 5.34 m |
| 21.18-26.37 | 0.28% Cu and 0.09 g/t Au over 5.19 m | ||
| 47.85-49.38 | 0.11% Cu and 0.07 g/t Au over 1.53 m | ||
| 52.43-53.65 | 0.96% Cu and 0.07 g/t Au over 1.22 m | ||
| STR-88-9 | 37.03 | 12.65-18.59 | 0.16% Cu and 0.61 g/t Au over 5.94 m |
| 20.42-22.86 | 0.34% Cu and 0.11 g/t Au over 2.44 m | ||
| Total | 569.94 |
Table 3: Historical drill hole locations and orientation
| Drillhole ID | Easting (m) | Northing (m) | Elevation (m) | Dip (°) | Azimuth (°) | EOH |
| STR-88-1 | 658234 | 5545405 | 1369.5 | -42 | 57 | 68.28 |
| STR-88-2 | 658234 | 5545405 | 1369.5 | -54 | 57 | 76.96 |
| STR-88-3 | 658234 | 5545405 | 1369.5 | -50 | 79 | 90.83 |
| STR-88-4 | 658225 | 5545457 | 1369.5 | -51 | 65 | 56.69 |
| STR-88-5 | 658225 | 5545457 | 1363.5 | -64 | 65 | 47.83 |
| STR-88-6 | 658179 | 5545534 | 1345 | -60 | 62 | 56.69 |
| STR-88-7 | 658179 | 5545534 | 1345 | -75 | 62 | 80.16 |
| STR-88-8 | 658199 | 5545505 | 1354 | -50 | 60 | 55.47 |
| STR-88-9 | 658199 | 5545505 | 1354 | -65 | 60 | 37.03 |
About North Valley Resources
North Valley Resources is a well-funded junior exploration company focused on advancing its flagship Comstock Project, a high-quality exploration asset that is fully permitted for drilling and located in a proven, mining-friendly jurisdiction. The Company is executing a disciplined, systematic exploration strategy aimed at unlocking significant copper and gold potential and advancing Comstock toward the mineral resource stage, while creating meaningful value for shareholders.
More information can be found at the Company's website at www.northvalleyresources.com
On behalf of the Company
Cameron Dorsey, CEO
Andy Randell, P. Geo., Consulting Geologist with SGDS Hive Geological Consulting Ltd, is a qualified person as defined by National Instrument 43-101 for North Valley's British Columbia exploration projects, and has reviewed and approved the technical information in this release. Mr. Randell is independent of the Company.
For new information about the Company's programs, please visit North Valley's website at www.northvalleyresources.com or contact Cameron Dorsey, CEO, by telephone (403) 966-0738 or by email at cameron.dorsey@northvalleyresources.com.
Forward-Looking Statements
This press release may contain "forward-looking information or statements" within the meaning of Canadian securities laws, which may include, but are not limited to statements relating to its future business plans. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ from those in the forward-looking statements. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions. The Company does not undertake to update forward-looking statements or forward-looking information, except as required by law. Neither Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.
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Source: North Valley Resources Ltd.