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November 17, 2025

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The S&P 500 ($SPX) just logged its fifth straight trading box breakout, which means that, of the five trading ranges the index has experienced since the April lows, all have been resolved to the upside.

How much longer can this last? That’s been the biggest question since the massive April 9 rally. Instead of assuming the market is due to roll over, it’s been more productive to track price action and watch for potential changes along the way. So far, drawdowns have been minimal, and breakouts keep occurring. Nothing in the price action hints at a lasting change — yet.

While some are calling this rally “historic,” we have a recent precedent. Recall that from late 2023 through early 2024, the index had a strong start and gave way to a consistent, steady trend.

From late October 2023 through March 2024, the S&P 500 logged seven consecutive trading box breakouts. That streak finally paused with a pullback from late March to early April, which, as we now know, was only a temporary hiccup. Once the bid returned, the S&P 500 went right back to carving new boxes and climbing higher.

New 52-Week Highs Finally Picking Up

If there’s been one gripe about this rally, it’s that the number of new highs within the index has lagged. As we’ve discussed before, among all the internal breadth indicators available, new highs almost always lag — that’s normal. What we really want to see is whether the number of new highs begins to exceed prior peaks as the market continues to rise, which it has, as shown by the blue line in the chart below.

As of Wednesday’s close, 100 S&P 500 stocks were either at new 52-week highs or within 3% of them. That’s a strong base. We expect this number to continue rising as the market climbs, especially if positive earnings reactions persist across sectors.

Even when we get that first day with 100+ S&P 500 stocks making new 52-week highs, though, it might not be the best time to initiate new longs.

The above chart shows that much needs to align for that many stocks to peak in unison, which has historically led to at least a short-term consolidation, if not deeper pullbacks — as highlighted in yellow. Every time is different, of course, but this is something to keep an eye on in the coming weeks.

Trend Check: GoNoGo Still “Go”

The GoNoGo Trend remains in bullish mode, with the recent countertrend signals having yet to trigger a greater pullback.

Active Bullish Patterns

We still have two live bullish upside targets of 6,555 and 6,745, which could be with us for a while going forward. For the S&P 500 to get there, it will need to form new, smaller versions of the trading boxes.

Failed Bearish Patterns

In the chart below, you can view a rising wedge pattern on the recent price action, the third since April. The prior two wedges broke down briefly and did not lead to a major downturn. The largest pullbacks in each case occurred after the S&P 500 dipped below the lower trendline of the pattern.

The deepest drawdown so far is 3.5%, which is not exactly a game-changer. Without downside follow-through, a classic bearish pattern simply can’t be formed, let alone be broken down from.

We’ll continue to monitor these formations as they develop because, at some point, that will change.

Here’s a quick recap of the crypto landscape for Friday (November 14) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ether price update

Bitcoin (BTC) was priced at US$94,223.98, a 4 percent increase in 24 hours and its lowest valuation of the day. Its highest was US$97,203.84.

Bitcoin price performance, November 14, 2025.

Chart via TradingView.

Bitcoin’s drop below US$95,000 on Friday, driven by expiring derivatives, whale selling, and weak institutional and retail demand, has intensified fears of an entrenched bear market.

Analysts predict Q4 could be Bitcoin’s “worst fourth quarter on record.’

On X, analyst @follis_ notes that the Wyckoff Distribution model, a classic five phase pattern typically observed near market tops and often precursor to prolonged selling pressure, could signal a potential end to Bitcoin’s bull run.

The pattern suggests that after a buying climax near US$122,000 and a sequence of tests failing to create new highs, the price entered a markdown phase. Bitcoin could drop to US$86,000 if key support levels fail to hold.

Meanwhile, Ether (ETH) was priced at US$3,129.77, a 1.6 percent decrease in the last 24 hours. Its lowest valuation of the day was US$3,131.31, while its highest was US$3,246.27.

Altcoin price update

  • Solana (SOL) was priced at US$139.74, down by 1.9 percent over the last 24 hours. Its lowest valuation of the day was US$138.83, while its highest was US$143.61.
  • XRP was trading for US$2.27, down by 1.5 percent over the last 24 hours. Its lowest valuation of the day was US$2.26, while its highest was US$2.33.

Fear and Greed Index snapshot

Bitcoin’s bearish trajectory has pushed market sentiment into extreme fear. As of today, CMC’s Crypto Fear & Greed Index continues to trend in extreme fear territory with the indicator sitting at 22, marking the lowest levels of investor confidence since March and signaling that traders are highly cautious about entering the market.

CMC Crypto Fear and Greed Index, Bitcoin price and Bitcoin volume.

Chart via CoinMarketCap.

Derivatives data

Bitcoin and Ether futures markets saw a wave of long-side liquidations in the hours leading up to the end of the trading day, signaling trader capitulation amid continued price weakness. Roughly US$65.24 million in Bitcoin positions were liquidated over a four hour window, with the bulk coming from longs. Ether followed a similar pattern, registering US$22.13 million in liquidations, again concentrated among leveraged long positions.

The liquidations coincided with a clear contraction in open interest, suggesting that traders not only endured forced unwinds but also reduced overall exposure. Bitcoin open interest slipped 2.3 percent to US$66.05 billion, while Ether open interest saw a sharper 3.8 percent decline to US$36.31 billion.

Funding rates stayed positive — 0.007 for Bitcoin and 0.012 for Ether — indicating that the futures market remained slightly tilted toward bullish positioning despite the shakeout.

However, Bitcoin’s relative strength index sat at a notably low 27.33, entering the oversold zone and hinting that derivatives pressure may have pushed the market toward a possible short-term exhaustion point.

Taken together, the metrics point to forced deleveraging rather than a broad directional shift, though sustained weakness in open interest could temper near-term volatility once liquidation volumes normalize.

Today’s crypto news to know

Saylor denies reports of Bitcoin selloff

Strategy’s (NASDAQ:MSTR) Michael Saylor took to X on Friday to debunk reports that the company has reduced its Bitcoin holdings by roughly 47,000 BTC.

“I think the volatility comes with the territory,” he reiterated in a CNBC interview that day. “If you’re going to be a Bitcoin investor, you need a four-year time horizon and you need to be prepared to handle the volatility in this market.”

An earlier post from @Crypto Crib claims that the company had offloaded over 30,000 BTC; however, community-supplied context clarifies that 22,704 BTC were moved on October 31, and that these transfers were internal custody movements, not open-market sales.

Tether expanding commodity lending

In an interview with Bloomberg, Tether CEO Paolo Ardoino said the company is ‘expanding its presence in commodity lending,’ noting that the focus going forward will include traditional commodity trades like agriculture and oil managed under its new Trade Finance unit, which provides short-term credit for global supply chains.

The company has lent roughly US$1.5 billion in credit to commodities traders so far.

Alibaba builds tokenized payment system

Alibaba Grou Holding (NYSE:BABA) is developing a stablecoin-like system to streamline cross-border payments for its US$35 billion e-commerce network, aiming for a year-end launch.

The tokenized platform will initially support US dollars and euros, and will include further plans to expand to additional currencies using JPMorgan’s tokenization technology.

Under the system, artificial intelligence-driven smart contracts will automate settlements, dispute resolution, and conditional fund releases to reduce friction in B2B transactions. The system will operate alongside Alibaba’s Agentic Pay rail to enhance speed and transparency.

While not a formal stablecoin, the solution acts as a fiat-backed digital token for settlement purposes.

UAE tightens crypto access

The United Arab Emirates (UAE) has enacted a new central bank law that broadens licensing requirements for financial services, effectively criminalizing unlicensed crypto activity. Article 170 imposes penalties, including fines up to AED 500 million (US$136 million) and imprisonment, for offering financial products without authorization.

Self-custody tools, such as Bitcoin wallets, blockchain explorers, and market-data services, now fall under the licensing net, creating compliance challenges for providers inside and outside the UAE.

Article 61 further restricts promotion, marketing, or publication of unlicensed financial activities, affecting even online communications. Companies have a one year window to comply, subject to central bank discretion.

Uniswap introduces continuous clearing auctions

Uniswap introduced continuous clearing auctions on Thursday (November 13), a new protocol aiming to facilitate token offerings through its infrastructure. The company said that the protocol will help teams ‘bootstrap liquidity on Uniswap v4 and find the market price for new and low-liquidity tokens,’ adding that several additional tools currently under development will eventually be added to help projects launch and deepen token liquidity on the platform.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Gerardo Del Real, co-owner of Digest Publishing, breaks down his portfolio, saying he’s currently bullish on copper, gold, silver and uranium, as well as critical metals.

‘I think this is the golden age of exploration and development in the critical metals space and the precious metals space. So take advantage of the market, folks,’ Del Real said.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Nick Hodge, publisher at Digest Publishing, is most bullish on copper and uranium in 2026, but also believes gold and silver prices have further to go despite recent gains.

‘We are in the middle of a precious metals bull market,’ he said. ‘Silver hasn’t had its day yet, so I think that’s a pretty good indicator that we’ve still got some time to go.’

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) (‘Skyharbour’, ‘SYH’ or the ‘Company’) is pleased to announce that it has entered into a definitive repurchase agreement (the ‘Strategic Agreement’) with Denison Mines Corp. (‘Denison’ or ‘DML’) whereby Denison will acquire an initial project interest in Skyharbour’s Russell Lake Uranium Project (‘Russell’ or the ‘Project’) and the parties have agreed to enter into four separate joint venture agreements at closing on various claims making up Russell (the ‘Transaction’). The Project is strategically located in the central portion of the Eastern Athabasca Basin of northern Saskatchewan, with access to regional infrastructure, including an all-weather road and powerline.

Russell Lake Project Location Map:
http://www.skyharbourltd.com/_resources/images/2025-11-14%20SKY-RussellLake-Updated.jpg

Highlights:

  • Strategic Agreement represents combined total project consideration of up to CAD $61.5 million consisting of cash or share payments to Skyharbour totalling up to $21.5 million (including $18.0 million before year end) plus expenditures totalling up to $40.0 million for Denison to acquire between a 20% and 70% ownership interest over seven years in the claims making up Russell, with Skyharbour owning the remaining interests.
  • Denison (TSX: DML; NYSE American: DNN), a leading uranium mining company with a market capitalization of over $3 billion, is developing the Wheeler River Project (‘Wheeler River’), which shares a 55 kilometre border with Russell. Denison is an existing, large corporate shareholder of Skyharbour and now joins the Company as a strategic, active, funding partner at Russell.
  • The Project will be divided into four different joint ventures, including Russell Lake (‘RL’), Getty East, Wheeler North, and the Wheeler River Inlier Claims, of which Skyharbour will retain initial ownership interests of 80%, 70%, 51%, and 30%, respectively. Denison can then earn up to a 70% interest in the Wheeler North and Getty East properties through option agreements.
  • The technical teams of Denison and Skyharbour will work cooperatively to advance and unlock value across the joint ventures, employing top-tier exploration and development expertise in the region.
  • Denison has committed to a minimum of $4 million in exploration expenditures over the first two years at Wheeler North and Getty East combined, as well as agreeing to fund to maintain its pro-rata 20% participation interest in the RL claims through 2029 up until such time that total exploration expenditures on the property reach $10 million.
  • Skyharbour to remain operator with an 80% ownership interest at the RL claims comprising over 53,192 hectares of the original 73,314 hectare Russell Lake Project. The Company will also act as operator during the first earn-in at Getty East with Denison sole funding the exploration in order to fulfill the earn-in option criteria.
  • Skyharbour to benefit with a substantial financial commitment from Denison before year end to help fund its uranium exploration and corporate activities through 2026. The Company will also generate revenue from its operator fee at the McGowan Lake exploration camp at the Project.
  • Skyharbour will continue to directly advance its high-grade Moore Uranium project as well as the RL claims at Russell, while partner companies fund exploration at some of the Company’s other projects.

Jordan Trimble, President and CEO of Skyharbour, stated: ‘This is a transformative transaction for Skyharbour and our shareholders as it represents a major stamp of approval for Russell with up to $61.5 million in combined project consideration coming in. We are very pleased to expand upon our long-standing relationship with Denison and to partner with their team to advance one of the more prospective exploration projects in the Athabasca Basin proximal to existing and developing mines. Denison’s success in exploring, permitting, and developing the neighboring world-class Wheeler River Project will provide considerable insight and experience as we jointly pursue success at Russell. Further, this transaction delivers on our belief that Russell should be treated as multiple different projects due to the abundance of targets and sheer scale of the land package in one of the most prolific uranium exploration corridors in the world. The structure and terms of the Strategic Agreement allow Skyharbour to continue exploring as operator at the majority of the claims at Russell, while participating in the future success that Denison seeks as operator at the Wheeler North and Wheeler River Inlier claims. Furthermore, we will receive a significant amount of cash and Denison shares to help fund our exploration efforts and corporate activities through 2026.’

David Cates, President and CEO of Denison, further commented: ‘As Denison nears receipt of final regulatory approvals for the Phoenix In-Situ Recovery mine proposed for our flagship Wheeler River property, we are also making measured investments in our project pipeline – including our next development assets and high-potential exploration properties. Given its proximity to Wheeler River, Denison has had an interest in adding Russell to our property portfolio for much of my nearly two decades with the Company. This transaction achieves that objective by providing Denison with the opportunity to lead and participate in exploration efforts across four newly created joint ventures, which are designed to drive collaboration between Denison and Skyharbour’s technical teams. We are excited to build on our long-standing relationship with Skyharbour and accelerate the evaluation of this exceptional package of highly prospective ground.’

Reorganization of the Russell Lake Project:
https://www.skyharbourltd.com/_resources/images/Russell-Map-New.jpg

Upon closing of the Strategic Agreement, Denison will earn an initial project interest in each of the four new Russell exploration projects including a 49% interest in the Wheeler North claims, a 20% interest in the RL claims, a 30% interest in the Getty East claims, and a 70% interest in the Wheeler River Inlier claims.

  1. Wheeler North (51% SYH, 49% DML ; subject to additional earn-in options ) : The yellow claims in the map above represent 16,409 hectares over eight claims. The claims host some of the exploration targets located proximal to Wheeler River, including the Grayling and Fork Zones. Upon closing of the Transaction, Denison will have the option to increase its interest in Wheeler North to a 70% interest in these claims and Denison will become the operator of Wheeler North as described in more detail below.
  2. Russell Lake or RL (80% SYH, 20% DML) : The pink claims in the map above represent 53,192 hectares over 16 claims. These claims are located north and west of Skyharbour’s Moore Project and host numerous exploration target areas including Christie Lake, NE Russell, Blue Steel, Taylor Bay, South Russell, and Kowalchuk Lake. In order to maintain its initial interest in RL, Denison has agreed to fund its pro rata share of up to a maximum of C$10.0 million in total project expenditures. Upon the closing of the Transaction, Skyharbour will remain operator of RL.
  3. Wheeler River Inliers (30% SYH, 70% DML) . The blue claims in the map above represent 608 hectares over two claims. These are inlier claims within Denison’s Wheeler River project hosting the West Russell and C-Block exploration target areas. DML will become operator of the Wheeler River Inliers.
  4. Getty East (70% SYH, 30% DML ; subject to additional earn-in options ) . The green claim in the map above representing 3,105 hectares is host to the Little Man Lake exploration prospect. The claim borders Cameco’s Cree Zimmer property which holds its Key Lake operations to the south.  Upon the closing of the Transaction, Skyharbour will remain operator of Getty East; however, Denison will have the option to become the operator and acquire up to a 70% interest in this joint venture as described in more detail below.

Transaction Details:

The consideration payment will consist of a $2 million cash payment immediately upon execution of the Strategic Agreement (the ‘Upfront Payment’), and deferred consideration of $16 million (the ‘Deferred Consideration’) payable on or before December 31 st , 2025.

The Deferred Consideration shall be payable in two tranches, each of which may be paid in cash or shares of Denison at Denison’s election, including $8 million on or before the fifth business day prior to December 21 st , 2025, and another $8 million within 10 days of December 21 st , 2025. Closing of the transaction (‘Closing’) is expected to occur on or before December 21 st , 2025.

The current exploration camp at McGowan Lake on the Project will continue to be operated by Skyharbour and an administrative fee will be payable by Denison to Skyharbour. The claims comprising Russell are subject to various existing underlying royalties to other parties.

The Transaction is subject to customary approvals, including Skyharbour obtaining TSX Venture Exchange approval. The Transaction will be considered a Reviewable Transaction under TSX Venture Exchange policies as David Cates is a director of both Denison and Skyharbour.

Denison Earn-In Options:

The Earn-In Option Agreements grant Denison an option to earn additional interests in Wheeler North and Getty East.

Wheeler North Earn-In Option :

Under the terms of the Wheeler North Earn-In Option Agreement, Denison may acquire up to a 70% interest in Wheeler North. The option agreement contains two (2) phases, as summarized below:

Phase 1: To earn an additional 11% interest in Wheeler North (increasing Denison’s ownership to 60%), Denison must:

  • Incur $10.0 million in exploration expenditures at Wheeler North within 48 months of Closing, of which $2.5 million in exploration expenditures must be completed within 24 months of Closing, and
  • Make a cash payment in the amount of $1.5 million to Skyharbour within 48 months of Closing.

Phase 2: To earn an additional 10% interest (increasing Denison’s ownership to 70%) in Wheeler North, Denison must complete the requirements of Phase 1, plus the following:

  • Incur an additional $15.0 million in exploration expenditures at Wheeler North within 7 years of Closing, and
  • Make a further cash payment in the amount of $2.0 million to Skyharbour within 7 years of Closing.

Getty East Earn-In Option Agreement:

Under the terms of the Getty East Option Agreement, Denison may acquire up to a 70% interest in Getty East. The option agreement contains two (2) phases, as summarized below:

Phase 1: To earn an additional 19% interest in Getty East (increasing Denison’s ownership to 49%), Denison must incur $5.0 million in exploration expenditures at Getty East within 48 months of Closing, of which $1.5 million must be completed within the first 24 months of Closing.

Phase 2: To earn an additional 21% interest in Getty East (increasing Denison’s ownership to 70%), Denison must complete the requirements of Phase 1, plus incur an additional $10 million in exploration expenditures within 7 years of Closing. Upon completion of the Phase 2 earn-in option criteria, Denison will have the option to become the operator in this joint venture.

Russell Lake Uranium Project Overview:

The Russell Lake Project is a large, advanced-stage uranium exploration property totalling 73,314 hectares strategically located between Cameco’s Key Lake and McArthur River Projects, and adjoining Denison’s Wheeler River Project to the west and Skyharbour’s Moore Uranium Project to the east. The northern extension of Highway 914 between Key Lake and McArthur River runs through the western extent of the property and greatly enhances accessibility, while a high-voltage powerline is situated alongside this road.

Skyharbour’s New 80% Owned RL Project:

The claims making up the RL Project constitute over seventy percent of the original Russell project area and will continue to be explored by Skyharbour as the operator and 80% owner. Denison will acquire a 20% interest and has agreed to fund to maintain its pro-rata participation interest in the RL claims through December 31 st , 2029, or until such time that total expenditures on the properties have reached $10 million.

The RL claims have numerous highly prospective targets that Skyharbour will continue to advance. The Christie Lake target area contains basement-hosted uranium mineralization with historical drilling returning 0.17% U 3 O 8 over 0.4 metres at 436.4 metres depth in hole CL-10-03, hosted within a strongly hematized breccia. A prospective clay altered basement fault system runs throughout this area.

The Blue Steel target area comprises graphitic metasediments that were last drilled in 2008. The full extent of the graphitic corridor remains unknown and completely untested. Historical geophysics indicate potential faulting along this corridor, highlighting it as a priority area for follow-up work using modern geophysical methods to refine drill targets.

The Kowalchuk area, situated within the southern Russell claims, is another prospective area on the RL claims, with multiple inferred structural trends passing through it. This area has seen only limited modern geophysical coverage to date.

In addition to the aforementioned target areas, there are many kilometres of untested EM conductors on the RL claims underlain by rocks of low magnetic intensity, suggestive of the presence of prospective graphitic meta-pelitic basement lithologies typical of Athabasca-style uranium systems. With limited modern exploration conducted over the past 12 years, the RL claims remain underexplored and highly prospective for both expanding known mineralized zones and making new discoveries.

Advisors and Counsel:

Haywood Securities Inc. is acting as financial advisor to Skyharbour in connection with the Transaction, and AFG Law LLP and DuMoulin Black LLP are acting as legal counsel to Skyharbour.

Qualified Person:

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Serdar Donmez, P.Geo., VP of Exploration for Skyharbour as well as a Qualified Person.

About Skyharbour Resources Ltd.:

Skyharbour holds an extensive portfolio of uranium exploration projects in Canada’s Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with interest in thirty-seven projects covering over 616,000 hectares (over 1.5 million acres) of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project, which is located 15 kilometres east of Denison’s Wheeler River project and 39 kilometres south of Cameco’s McArthur River uranium mine. Moore is an advanced-stage uranium exploration property with high-grade uranium mineralization in several zones at the Maverick Corridor. Adjacent to the Moore Project is the Russell Lake Uranium Project, which hosts widespread uranium mineralization in drill intercepts over a large property area with exploration upside potential. The Company is actively advancing these projects through exploration and drilling programs.

Skyharbour also has joint ventures with industry leaders Denison Mines, Orano Canada Inc., Azincourt Energy, and Thunderbird Resources at the Russell, Preston, East Preston, and Hook Lake Projects, respectively. The Company also has several active earn-in option partners, including CSE-listed Basin Uranium Corp. at the Mann Lake Uranium Project; TSX-V listed North Shore Uranium at the Falcon Project; UraEx Resources at the South Dufferin and Bolt Projects; Hatchet Uranium at the Highway Project; CSE-listed Mustang Energy at the 914W Project; and TSX-V listed Terra Clean Energy at the South Falcon East Project.

In aggregate, Skyharbour has now signed earn-in option agreements with partners that total to potentially over $76 million in partner-funded exploration expenditures and over $42 million in cash and share payments coming into Skyharbour, assuming that these partner companies complete their entire earn-ins at the respective projects.

Skyharbour’s goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.

Skyharbour’s Uranium Project Map in the Athabasca Basin:
http://www.skyharbourltd.com/_resources/images/SKY-SaskProject-Locator-2025-11-14-Updated.jpg

To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com .

Skyharbour Resources Ltd.

‘Jordan Trimble’

Jordan Trimble
President and CEO

For further information contact myself or:
Nicholas Coltura
Investor Relations Manager
Skyharbour Resources Ltd.
Telephone: 604-558-5847
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This release includes certain statements that may be deemed to be ‘forward-looking statements’. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements, including receipt of TSXV approval to the Transaction and the closing of the Transaction. Although management 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 or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, exploration and development successes, regulatory approvals including TSXV approval, and general economic, market or business conditions. Please see the public filings of the Company at www.sedarplus.ca for further information.

 

News Provided by GlobeNewswire via QuoteMedia

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Brunswick Exploration Inc. (TSX-V: BRW, OTCQB: BRWXF; ‘ BRW ‘ or the ‘ Company ‘) is pleased to announce inaugural drilling results from its Anatacau Main Project, located in the Eeyou Istchee-James Bay region of Quebec. All drillholes were centered on the Anais showing and intercepted multiple, large spodumene-bearing pegmatites with rich lithium mineralization. The pegmatites are found along a major deformation corridor, reminiscent of the neighboring Galaxy deposit owned by Rio Tinto located 22 kilometers to the West.

Highlights include:

  • 1.66% Li2O over 47.2 meters in drill hole AN-25-05 within a larger package of continuous lithium mineralization (present within both country rock and pegmatites) of 120.7 meters at 1.31% Li2O .
  • Very high cesium values intercepted in multiple secondary sub-parallel dykes including 1.46% Cs2O over 1 meter and 0.8% Cs2O over 1 meter.
  • This latest discovery is now drill traced over 170 meters of strike length and is open in all directions.

Mr. Killian Charles, President and CEO of BRW, commented: ‘Today’s exciting results underscores the opportunities across our continuously growing portfolio. We are rapidly starting to define a sizeable lithium system at Anatacau Main which, importantly, remains open in all directions. Furthermore, we are seeing mineralization constrained to the same structural corridor that is found at Rio Tinto’s Galaxy project (54.3Mt M&I at 1.30% Li2O and 55.9Mt Inferred at 1.29%, see Note ) and BRW’s Anatacau West. At Anatacau Main, we control over 18 kilometers of this highly prospective corridor which will be the focus of subsequent work in Q1 2026.

Between these strong results at Anatacau, a forthcoming maiden resource estimate for Mirage, an inaugural drill campaign in Greenland and further growth opportunities beyond the existing portfolio, Brunswick Exploration is among the most exciting companies in the lithium exploration space.’

Table 1 : Mineralized Intercepts from Inaugural Drilling Program at Anatacau Main

True thickness is estimated between 65% and 85%

Figure 1 : Surface Map of the Anatacau Main Project and Drill Holes Completed to Date

Results Interpretation

The largest pegmatite outcrop observed at the Anais showing has now been extended to over 170 meters in strike length and to a maximum depth of 98 meters. It remains open in all direction with an apparent thickness of 47.2 meters (DDH AN-25-05) at its widest point. The main pegmatite dyke is interpreted to be dipping 85 degrees to the West. Several other, well-mineralized stacked pegmatite intervals were also intercepted in all holes, demonstrating the potential for more dyke discoveries in the vicinity of the outcrop (Figure 1). The mineralized dykes discovered at Anatacau straddle the southern side of an interpreted major deformation zone, striking northwest-southeast; a structural control that is reminiscent of the Galaxy deposit (Figure 2). The different pegmatite dykes appear to be oriented North-South to Northeast-Southwest.

The pegmatite dykes show excellent continuity in terms and mineralogy and grade, with several high-grade zones intersected to date (Table 1, Figure 3). The mineralized pegmatite dykes typically exhibit massive to coarse crystals (15+centimeters) with a mineralogy consisting of quartz, white K-feldspar, plagioclase, white spodumene, and minor amounts of muscovite, fine-grained tourmaline, and blue apatite. Spodumene crystals are inclusion-free and are consistently white unlike spodumene mineralization found at the Galaxy deposit and Anatacau West which varies from off-white to greenish. Some pegmatite intervals are under the cut-off of 0.3% Li2O but demonstrate high values of tantalum and cesium (up to 1.46% Cs2O in a 1 meter interval). This highlights the potential for other types of mineralization and by-products at the Anatacau Main project, a feature uncommon in other James Bay projects.

Host rocks consist of greywacke and amphibolite, locally deformed into schist near the deformation zone where pegmatites seem to propagate well into both units. Holmquistite, a lithium amphibole, is commonly observed in all host rocks at varying concentrations (up to 1.5% Li2O in host rock) over significant widths. This pervasive lithium alteration is potentially indicative of significant lithium bearing fluids along the deformation corridor and could be potentially used as a vectoring tool for further discoveries.

A geometallurgical study is underway at SGS using DMS (Dense Media Separation) with results expected early in 2026.

Figure 2 : Regional Map of the Anatacau Main and Anatacau West Projects

Figure 3 : Cross Section A-A’ (see Figure 1 for Location)

Table 2 : Drill Hole Collars (UTM Nad83, Zone 18N)

Drill hole Azimut Dip Length UTM X UTM Y
AN-25-01 78 -49.2 126 380436.08 5784638.25
AN-25-02 78 -72.26 93 380436.08 5784638.25
AN-25-03 98.33 -50.53 144 380384.73 5784678.00
AN-25-04 129 -49.27 108 380384.42 5784599.78
AN-25-05 140 -49.27 159 380329.20 5784591.66
AN-25-06 140 -49.26 165 380232.46 5784553.73


Anatacau Drilling Campaign Overview

Six (6) diamond drill holes were completed (see Figure 1 and Table 2) for a total of 750 meters. The holes were spaced by 55 to 100m, and all holes intercepted mineralized pegmatites.

The aim of the 2025 drilling campaign was to test at shallow depths (less than 150 meters vertical depth) the pegmatite dykes mapped at surface on the Anaïs showing. The drilling campaign was performed in HQ size to perform a geometallurgical study, planned according to a grant from the Ministry of Natural Resources and Forests of the Quebec Government.

Brunswick Exploration discovered the Anais showing in 2023, which consists of several parallel pegmatite dykes with visible spodumene mineralization. The largest dyke found to date is exposed over a 15 m wide by 100m long outcrop. Several grab samples returned high grade values ranging from1.19 to 3.83% Li2O on the outcrop itself (see press release dated July 13, 2023). The Anais lithium discovery is located 22 kilometers East and along strike from Rio Tinto’s Galaxy project and BRW’s Anatacau West project.

Note

SEC Technical Report Summary for the James Bay Lithium Project prepared by SLR Consulting (Canada), Wave International Pty and WSP Canada for Arcadium Lithium Plc., dated August 31 2023

About the Anatacau Project

The Anatacau Main and the Anatacau West Projects are under option from Osisko GP, a subsidiary of Osisko Development whereby BRW can earn a 90% interest in the projects. For further details, please refer to the November 28, 2022 News release.

QAQC

All drill core samples were collected under the supervision of BRW employees and contractors. The drill core was transported by helicopter to the logging facility at camp Wabamisk. and by truck from the drill platform to the core logging Each core was then logged, photographed, tagged, and then packed to be shipped to Val-d’Or. Core splitting by diamond saw and sampling was done by BRW contractor at their Val-d’Or facility. All pegmatite intervals were sampled at approximately 1m intervals to ensure representativity, excluding all host rock material. Host rock was also sent for analysis 1m before and after each pegmatite interval. Samples were bagged, and blanks, pulp duplicates and certified reference materials for lithium were inserted at regular intervals. Groups of samples were placed in larger bags, sealed with numbered tags, in order to maintain a chain of custody. The sample bags were transported from BRW contractor facility to the Agat laboratory in Val-d’Or. All sample preparation and analytical work was performed by Agat Laboratories. Samples were crushed in order for 75% of the material to pass through a 2mm screen (method 200075), split to a sub-sample of 250g, and the split sample pulverized (200087) to obtain more than 85% of the material passing a 75µm screen. A sub-sample of the pulverized fraction was dissolved in a sodium peroxide solution, prior to lithium analysis by ICP-OES and ICP-MS according to the Agat method 201378. All results passed the QA/QC screening at the laboratory, and all inserted standard, duplicates and blanks returned results that were within acceptable limits. All reported drill intersections are calculated on the basis of a lower cutoff grade of 0.30% Li2O.

Qualified Person

The scientific and technical information contained in this press release has been reviewed and approved by Mr. François Goulet, Manager Quebec. He is a Professional Geologist registered in Quebec and is a Qualified Person as defined by National Instrument 43-101.

About Brunswick Exploration

Brunswick Exploration is a Montreal-based mineral exploration company listed on the TSX-V under symbol BRW. The Company is focused on grassroots exploration for lithium in Canada, a critical metal necessary to global decarbonization and energy transition. The company is rapidly advancing its extensive grassroots lithium property portfolio in Canada and Greenland.

Investor Relations/information

Mr. Killian Charles, President and CEO ( info@brwexplo.ca )

Cautionary Statement on Forward-Looking Information

This news release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Corporation’s public documents filed on SEDAR at www.sedar.com. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

A tables accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1841b3d5-7add-44fc-9098-bfc9a3ad1b96

Figures accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/8f3d17e7-4ea2-4967-9ae5-99fc74320957

https://www.globenewswire.com/NewsRoom/AttachmentNg/d76899b2-eec4-43a8-8af9-0c912d555c2a

https://www.globenewswire.com/NewsRoom/AttachmentNg/76da0e33-bcfd-4bc2-bbff-76e34511dfa7

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