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western copper and gold corporation (TSX: WRN) (NYSE: WRN) (the ‘Company’) is pleased to announce it has entered into an agreement with Stifel Canada, on its own behalf and on behalf of a syndicate of underwriters (the ‘Underwriters’), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 12,048,400 common shares of the Company (the ‘Common Shares’) at a price of C$4.15 per Common Share (the ‘Offering Price’) for gross proceeds to the Company of approximately C$50,000,860 (the ‘Offering’).

The Company has granted the Underwriters an option, exercisable, in whole or in part, at any time until and including 30 days following the closing of the Offering, to purchase up to an additional 1,807,260 Common Shares of the Offering. If this option is exercised in full, an additional C$7,500,129 in gross proceeds will be raised pursuant to the Offering and the aggregate gross proceeds of the Offering will be approximately C$57,500,989.

The Company plans to use the net proceeds from the Offering to advance permitting and engineering activity at the Company’s Casino Project in the Yukon, and for general corporate and working capital purposes.

The Offering will be made by way of a short form prospectus (together with any amendments thereto, the ‘Prospectus‘) filed in all of the provinces of Canada, except Québec, and in the United States pursuant to a prospectus filed as part of a registration statement on Form F-10 (together with any amendments thereto, the ‘Registration Statement‘) under the Canada/U.S. multi-jurisdictional disclosure system. The Prospectus and the Registration Statement are subject to completion and amendment. Such documents contain important information about the Offering. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

The Registration Statement relating to the Common Shares has been filed with the United States Securities and Exchange Commission but has not yet become effective. The Common Shares to be sold pursuant to the Offering described in this news release may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective. Before readers invest, they should read the Prospectus in the Registration Statement and other documents the Company has filed with Canadian regulatory authorities and the United States Securities and Exchange Commission for more complete information about the Company and the Offering. The Prospectus is available on SEDAR+ at www.sedarplus.ca. The Registration Statement is available on EDGAR at www.sec.gov. Alternatively, the Prospectus and the Registration Statement may be obtained, for free upon request, from Stifel Canada at 161 Bay Street, Suite 3800, Toronto, Ontario, Canada M5J 2S1 or by email at syndprospectus@stifel.com.

The Offering is scheduled to close on or about February 26, 2026, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange and the NYSE American and the applicable securities regulatory authorities.

About western copper and gold corporation

western copper and gold corporation is advancing the Casino Project, Canada’s premier copper-gold mine in the Yukon and one of the most economic greenfield copper-gold mining projects in the world. The Company is committed to working collaboratively with First Nations and local communities to progress the Casino Project, using internationally recognized responsible mining technologies and practices.

On behalf of the board,

‘Sandeep Singh’

Sandeep Singh
Chief Executive Officer
western copper and gold corporation

For more information, please contact:

Cameron Magee
Director, Investor Relations & Corporate Development
western copper and gold corporation
437-219-5576 or cmagee@westerncopperandgold.com

Cautionary Note Regarding Forward-Looking Statements

This news release contains certain forward-looking statements concerning the timing and completion of the Offering, the gross proceeds of the Offering and the use of proceeds from the Offering, the over-allotment option to be granted to the Underwriters, the necessary regulatory approvals required for the Offering being received and the expected closing date of the Offering. Statements that are not historical fact are ‘forward-looking statements’ as that term is defined in the United States Private Securities Litigation Reform Act of 1995 and other U.S. securities law and ‘forward-looking information’ as that term is defined in National Instrument 51-102 (‘NI 51-102’) of the Canadian Securities Administrators (collectively, ‘forward-looking statements’). 

Forward-looking statements are frequently, but not always, identified by words such as ‘expects’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘potential’, ‘possible’ and similar expressions, or statements that events, conditions or results ‘will’, ‘may’, ‘could’ or ‘should’ occur or be achieved. The material factors or assumptions used to develop forward-looking statements include, but are not limited to, the assumptions that all regulatory approvals of the Offering will be obtained in a timely manner; all conditions precedent to completion of the Offering will be satisfied in a timely manner; and that market or business conditions will not change in a materially adverse manner. Forward-looking statements are statements about the future and are inherently uncertain, and actual results, performance or achievements of the Company and its subsidiaries may differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements due to a variety of risks, uncertainties and other factors. Such risks and other factors include, among others, risks involved in fluctuations in gold, copper and other commodity prices and currency exchange rates; uncertainties related to raising sufficient capital in a timely manner and on acceptable terms; and other risks and uncertainties disclosed in the Company’s AIF and Form 40-F, including those under the heading ‘Risk Factors’ and other information released by the Company and filed with the applicable regulatory agencies. 

The Company’s forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and  the Company does not assume, and expressly disclaims, any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.

View original content:https://www.prnewswire.com/news-releases/western-copper-and-gold-announces-c50-million-bought-deal-financing-302685689.html

SOURCE western copper and gold corporation

View original content: http://www.newswire.ca/en/releases/archive/February2026/11/c0278.html

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Investor Insight

Valeura Energy offers investors exposure to a debt-free, cash-generating Southeast Asia oil producer with growing reserves, visible production growth and multiple near- and medium-term catalysts to unlock value.

Overview

Valeura Energy (TSX:VLE,OTCQX:VLERF) is an oil and gas company focused on the development and operation of shallow-water offshore assets in the Gulf of Thailand. The company is listed on the Toronto Stock Exchange and is headquartered in Singapore, reflecting its strategic focus on the Asia-Pacific region. Valeura currently operates four producing oil fields – Nong Yao, Jasmine, Wassana and Manora – and has established itself as a low-cost, reliable operator in a mature basin with extensive existing infrastructure.

Valeura’s strategy is centred on generating strong free cash flow from its existing production base while extending asset life through continuous drilling, facility upgrades and near-field exploration. This organic growth is complemented by a disciplined acquisition strategy, positioning Valeura as a potential consolidator in a region where competition for assets is limited. The company is led by an internationally experienced management team with deep operational and transactional expertise in Asia, supported by award-winning safety, environmental and operational performance.

Company Highlights

  • Second-largest oil producer in Thailand, operating four shallow-water offshore fields in the Gulf of Thailand
  • Strong financial position, with US$306 million in cash and no debt as of December 31, 2025
  • Growing reserves and extended field lives, with 57.6 mmbbl of 2P reserves and a multi-year history of approximately 200 percent reserves replacement per year
  • Highly cash-generative business, generating US$158 million in free cash flow over the last twelve months to September 30, 2025
  • Growth-oriented strategy, combining disciplined organic investment with accretive M&A opportunities in the Asia-Pacific region

Key Projects

Core Thailand Producing Portfolio (Operated)

Valeura’s primary focus is its operated portfolio of shallow-water offshore oil fields in the Gulf of Thailand, which form the foundation of its cash flow, reserves growth and near-term value creation. The company currently operates four producing fields – Nong Yao, Jasmine, Wassana and Manora – all located in a mature basin with extensive infrastructure and a long history of reserve replacement through continued development.

Nong Yao (90 percent working interest) is Valeura’s largest and most profitable asset, and the company’s top operational priority. Following an expansion in 2024 which saw the installation of a third production facility and successful drilling thereafter, Nong Yao has become Valeura’s largest producing field, delivering approximately 10.6 mbbls/d in Q3 2025. Ongoing appraisal, seismic interpretation and infrastructure-led exploration support further production and reserves upside.

Jasmine (100 percent working interest) and Manora (70 percent working interest) are mid-life fields that continue to exceed expectations through targeted drilling and operational optimisation. Jasmine has produced many times its originally-forecast ultimate recovery and has seen its economic life extended repeatedly. Manora, while smaller, has similar characteristics – continual extensions of economic life through drilling success and optimisation projects. Together, these assets provide stable production and strong operating margins.

Wassana (100 percent working interest) represents a cornerstone growth project within the Thailand portfolio. Valeura is executing a major field redevelopment that includes a new central processing platform designed to increase production from approximately 3 mbbls/d to around 10 mbbls/d. First oil from the new facility is expected in Q2 2027, with the redevelopment extending field life into the 2040s and creating a hub for future satellite developments.

Gulf of Thailand Growth Platform (Non-operated)

Beyond its existing producing fields, Valeura is expanding its footprint in Thailand through a strategic farm-in with PTT Exploration and Production, Thailand’s national oil company. The transaction significantly increases Valeura’s acreage position in the Gulf of Thailand and introduces exposure to both oil and gas opportunities adjacent to existing infrastructure.

The blocks (G1/65 and G3/65) contain multiple existing discoveries and are already the subject of near-term development planning, with the potential to progress initial development projects toward final investment decisions in 2026. While the farm-in transaction remains subject to government approval, management views its nascent partnership with PTTEP as a key medium-term growth catalyst that complements Valeura’s operated production base.

Türkiye Deep Gas Asset (Non-operated, Legacy Upside)

Valeura also retains an interest in a deep, tight-gas play in Türkiye, which represents a longer-dated upside opportunity. The asset has been farmed out to an experienced regional operator, limiting Valeura’s capital exposure while preserving upside through appraisal and testing activity. Management has positioned Türkiye as a “free option” for shareholders, providing potential upside without detracting from the company’s operational and strategic focus on the Asia-Pacific region.

Management Team

Sean Guest – President & Chief Executive Officer

Sean Guest brings 30+ years of international oil and gas experience, including senior operational and leadership roles with Shell, Woodside and Schlumberger. Prior to joining Valeura, he served as CEO of two private juniors, leading production and exploration teams across Asia and Africa.

Yacine Ben-Meriem – Chief Financial Officer

Yacine Ben-Meriem is a seasoned finance professional with 15+ years in oil and gas investment banking and finance, particularly in Southeast Asia. Before joining Valeura, he co-founded Panthera Resources, a key partner in Valeura’s Gulf of Thailand acquisitions. He has held senior roles at ABN AMRO and Standard Chartered in Singapore.

Grzegorz (Greg) Kulawski – Chief Operating Officer

Grzegorz Kulawski brings 25+ years of upstream experience through leadership roles at Shell, including deputy CEO of Sakhalin Energy, head of global safety, and senior leadership roles overseeing other major producing operations. His background spans brownfield operations and greenfield developments, with expertise in complex project execution and team integration across regions.

Kelvin Tang – Executive Vice-president, Corporate, General Counsel & Corporate Secretary

Kelvin Tang has over 18 years of experience in international oil and gas, with experience as head of business development at Hibiscus Petroleum and as CEO and COO of KrisEnergy, a Singapore-listed predecessor to Valeura’s initial Thailand interests. His background combines legal, commercial and strategic leadership.

Ian Warrilow – Thailand Country Manager

Ian Warrilow has 30+ years of operational and commercial experience in oil and gas across Australia, Europe and Southeast Asia. Before joining Valeura, he served as COO of Energy Development Oman and held senior roles with Mubadala Petroleum, including leadership positions in Indonesia and Thailand. His technical and regional expertise supports Valeura’s on-the-ground operations.

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Copper prices surged to an all-time high in January after a tumultuous 2025.

Although there was some panic buying in the sector at a couple of points last year, prices began to trade on market fundamentals in the third and fourth quarters, driven by significant supply disruptions.

At this year’s Vancouver Resource Investment Conference (VRIC), Darrell Thomas, host of VRIC Media and the Money Levels Show, led a panel focused on the red metal’s 2025 moves and where it may be headed in 2026 and beyond.

Joining Thomas were Coppernico Metals (TSX:COPR,OTCQB:CPPMF) CEO and Chair Ivan Bebek; Lobo Tiggre, CEO of IndependentSpeculator.com; and Rick Rule, proprietor of Rule Investment Media.

The math supports copper demand

The last several years have brought a narrowing gap between copper supply and demand.

The panelists noted that newer industries such as artificial intelligence (AI), electric vehicles (EVs) and the energy transition are driving additional demand in an already tight market.

Rule noted that, regardless of whether demand from new technologies declines, underlying base-level consumption will be driven by urbanization and the growth of the middle class in developing nations.

“It isn’t about Teslas. It’s about the fact that a billion people on Earth have no access to primary electricity,’ he said.

‘It’s about the fact that one of the greatest leaps forward in humankind was raising 500 million Chinese from rural penury to middle-class status,” Rule told the audience at VRIC.

He explained that it’s a matter of simple arithmetic, suggesting that the amount of copper that it will take to get everyone to a better standard of living is going to be massive.

“It’s inescapable, it’s truly inescapable,” Rule said.

Bebek noted that it’s not just the developing world; there are also significant projects underway in the US.

“One of the biggest uses of copper is in development, and if you travel around the US, everywhere there is a lot of modernization. Airports and infrastructure to meet the new requirements, and everyone’s building is cleaner. So that’s going to be steady,” he said. Bebek also noted that tech demand is inevitable even if there is some deceleration.

“Baseline demand is built in. Data center demand may be influenced by copper prices, but I don’t think it matters. I think copper demand grows 2 percent compounded without data centers,” Rule added.

Copper supply facing challenges

Meanwhile, steady copper demand growth is running up against a stressed supply chain.

Experts have been calling for a structural copper supply deficit for years, largely due to the absence of new mining operations, but in 2025, the industry faced significant supply-side disruptions.

In May, underground activities at Ivanhoe Mines’ (TSX:IVN,OTCQX:IVPAF) Kakula mine in the Democratic Republic of the Congo were suspended after water ingress into the mine; the company ultimately reduced its annual guidance by 28 percent. Then, in July, a tunnel collapse that killed six at Codelco’s El Teniente mine in Chile forced the company to temporarily halt operations, causing it to reduce its guidance by 30,000 metric tons.

In September, another water ingress incident at Freeport-McMoRan’s (NYSE:FCX) Grasberg mine in Indonesia killed seven workers, forced the shutdown of operations and deferred significant production through Q4 2025.

These major incidents, along with other minor supply-side disruptions throughout last year, have shortened the timeline for the copper market to enter a supply deficit.

“Really, last year the market was close to equilibrium, but all the charts going forward were this widening supply gap. We’re there now. And last year we had so many major disruptions that it was nowhere near equilibrium,’ said Tiggre.

‘I’m a simple due diligence guy, and I just don’t see the supply,’ he added.

Overall, the panelists agreed that there’s enough copper in the world to meet demand, but the challenge is in getting out of the ground. Discovering deposits will be key to overcoming that issue.

“Copper mines are hidden behind geopolitical boundaries, social issues or undercover. They’re blind, and the easy ones have been found,” Bebek explained to the VRIC crowd.

He cited data showing that since 2015, there haven’t been any copper discoveries of real consequence.

Rule echoed that point, suggesting that it’s largely going to be an issue of investment into exploration. He discussed his history in the industry and noted the underinvestment in copper exploration during that period; however, when funds were spent, copper was uncovered. He also suggested that the easy copper has been found.

“There’s still more to be found, but its going to be found undercover. Let’s just say they’re pretty far off the highway. When we start spending money, we will find copper, but we haven’t started spending money,” he said.

Rule went on to explain that once the industry decides to reinvest in exploration, copper will be revealed, but it will take at least a decade. “There’s no relief in sight in the near term,” he said.

He also highlighted permitting issues and cited the example of the Resolution mine in Arizona, US.

Rule stated that the project has exceptional grades averaging 1.5 percent; however, it’s been stuck in permitting for a massive 28 years. Even with streamlined permitting processes being developed in countries like Canada and the US, companies are still likely to face years-long timelines to bring metal online.

“Even if Trump decides that copper is the most critical mineral, and he’s going to provide subsidies and price floors, and he’s going to guarantee that what could technically be referred to as crappy projects make money, you still have to get them permitted,” Tiggre said. Even with fast-track permitting, he noted that these projects will still require billions in investment, and in the best-case scenario will only save three to five years.

Investor takeaway

The biggest emerging factor is how the industry will respond to the growing copper supply gap.

As Rule pointed out, there doesn’t appear to be a near-term solution.

He also noted that in order for companies to maintain copper production at the current level, the required investment stands at US$250 billion over the next 10 years, which is US$150 billion more than the industry has.

“The problem with that is that maintains current production, a level where copper is in deficit and demand is growing at 2 percent compounded,” Rule explained to the audience.

With copper prices at all-time highs, it may not be time to jump in. But with geopolitical and economic uncertainty still looming over global financial markets, there could be opportunities from volatility.

“All I’m saying is there’s no need to give in to FOMO here. I’m super bullish. Doug Casey taught me to let volatility to be my friend. That’s what I’m thinking this year,” Tiggre said.

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

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Nine Mile Metals LTD. (CSE: NINE,OTC:VMSXF) (OTC Pink: VMSXF) (FSE: KQ9) (the ‘Company’ or ‘Nine Mile’) is pleased to provide the details of drill hole WD-25-05 in addition to a summary of the 2025 drill program completed in December at the Wedge Project.

Drillhole WD-25-05:

DDH WD-25-05 collared on the same drill pad as WD-25-01 and drilled at an azimuth of 310 degrees and a dip of -60 to a final depth of 275 meters.

  • DDH-WD-25-05 was successful, intersecting massive VMS (Cu, Pb, Zn, Ag, Au) mineralization between 155.52 – 157.80 meters (Figure 1) followed by 40 meters of mineralized felsic volcanics (rhyolite) as seen in Figure 2 between 157.80 and 197.80 meters before terminating in sediments.
  • Mineralization consisted of both pyrite and chalcopyrite as disseminations, masses, and associated with quartz bands parallel to bedding.
  • All drill core has been measured, logged, photographed, marked, and cut for sampling at the company’s warehouse in Bathurst, New Brunswick. A quick XRF analysis was also completed for sulphide confirmation – filtering and width identification in definition for sampling core for Actlabs Analysis. A total of 55 sections were delivered to ALS Global in Moncton, New Brunswick for Base and Precious Metals analysis, including Antimony.

FIGURE 1: Brecciated contact between Graphitic Shear and VMS Mineralization.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7335/283358_4923c8bf64124805_002full.jpg

FIGURE 2: Banded pyrite and chalcopyrite within siliciifed felsic volcanics

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7335/283358_4923c8bf64124805_003full.jpg

Drill Holes BHEM -01 and BHEM-02:

Both drill holes were collared on permitted drill pads in the northwest along the western extension (Figure 4). The drill core for both BHEM-01 and BHEM-02 were solid with minimal faulting / fracturing in the host sediments providing ideal drill holes for surveying and subsequent follow up. Collared outside of known mineralization, the holes are well positioned to locate and model adjacent mineralization with no interference from a conductive source within the drill hole. Both holes are capped and easily accessible, the drill pads available for extending drilling further west and if required, additional depth.

FIGURE 3: Drilling BHEM – 01 in Northwest Area

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7335/283358_4923c8bf64124805_004full.jpg

Gary Lohman, VP Exploration, Director stated, ‘Our Wedge Drill Program has been very successful, intersecting Massive Cu bearing VMS where targeted in the western extension of the Wedge Deposit, as designed. Two holes were also drilled in the Northwest area to facilitate an upcoming BHEM survey, their locations in solid rock on the flanks of previous underground workings. In addition to identifying additional mineralization, the size and scale of the individual geological units and results from the upcoming BHEM program will assist in modeling the deposit and targeting additional drilling along the western extension. After our successful drilling in the southern lower extension of the deposit, our knowledge of the deposit and mineralization has increased and identified new areas of priority that were not permitted for this past drill program. We have identified new drill collar locations to continue to test the Copper Zone on the western extension in addition to potential locations that avoid the shear zone in the south. New permitting is underway in preparation of an exciting 2026 campaign at the Wedge, including our West Wedge and Tribag Target Trend drill programs.’

2025 Drill Program Overview:

The program consisted of 7 drill holes totaling 1,654 meters with 5 holes targeting copper mineralization in the western extension of the Wedge Mine with two additional holes collared in the northwest to facilitate BHEM (Bore Hole Electromagnetic) surveying this spring. The goal is to map the depth of the deposit and define the new copper zone. We should also be able to map the western parameters of the deposit, heading west towards the Tribag and West Wedge along trend.

The 2025 drill program was highly successful, with all five drill holes targeting copper mineralization intersecting both massive VMS (Cu, Pb, Zn, Ag, Au) and banded copper sulphide mineralization. The two holes collared to facilitate BHEM geophysical surveying were also successful, collared in the northwest portion of the western extension, away from the large, graphitic shear zone that bounds the deposit in the south and west of the interpreted extent of previous, underground workings. BHEM surveying has its best results when drilled away from the mineralization and the magnetic interference.

The five drill holes targeting mineralization were all collared in the southwest, crossing through a brecciated, graphitic shear zone (tectonic melange) before intersecting a well-defined massive VMS (Cu, Pb, Zn, Ag, Au) horizon. This is characteristic of the mineralized contact after which a sequence of intercalated sediments and volcanics are cut prior to the holes intersecting the main zone of VMS mineralization with mineralized widths between 13 and 48 meters.

The VMS mineralization consisted of abundant pyrite and lesser chalcopyrite, sphalerite, and galena. Local, secondary copper, covellite (CuS) and bornite (Cu5FeS4), was also identified in drill holes WD-25-02 and WD-25-04.

In the west, the metal zonation appears different than the drill holes completed in the east with the prevalence of a greater concentration of chalcopyrite and pyrite with lesser galena (Pb) and sphalerite (Zn). Although it is early in the process, we have confirmed the presence abundant chalcopyrite and coarser grained pyrite in the western extension.

The key observations in this program include:

  • Graphitic Shear Zone in contact with VMS confirmed as a diagnostic marker horizon in the southwest.
  • Mineralized siliceous volcanics were intersected in numerous drill holes, defining an additional, mineralized sequence.
  • VMS mineralization occurs in multiple horizons as seen in holes WD-25-01 and WD-25-02.
  • The intersected units (Argillite, VMS and Felsic Volcanics) are of substantial width and extent which will assist in the 3D modeling of the deposit and subsequent drill hole targeting.

Patrick J Cruickshank, MBA, CEO & Director, stated, ‘We are thrilled with the success of our Wedge Phase 2 Drill Program. To have all 5 holes strike mineralization was more than we expected. It is a testament to our Technical Team and specifically, Mike Dufresne and Gary Lohman. We already have identified Phase 3 Drill holes and are determined more than ever to expand this deposit’s footprint and expose this entire new 3rd High Grade Copper Lens. In addition, the BHEM surveys, the Phase 3 Wedge Drilling, the TriBag & West Wedge drilling to test this VMS Cluster Trend, 2026 will be filled with Wedge Project activity. We expect our first Assays to arrive this week from ALS Global and look forward to sharing the results.’

FIGURE 4: Drill Hole Locations, WD-25-05, BHEM-01, BHEM-02

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7335/283358_4923c8bf64124805_005full.jpg

All drill core has been measured, logged, photographed, marked, and cut for sampling at the company’s warehouse in Bathurst, New Brunswick. A quick XRF analysis was also completed for sulphide confirmation – filtering and width identification in definition for sampling core for ALS Global. A total of (57) samples in Hole WD-25-05 have been identified for Base and Precious Metals analysis, including Antimony, and have been shipped to ALSGlobal, Moncton, New Brunswick for Rush processing.

The disclosure of technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101’) and reviewed and approved by Gary Lohman, B.Sc., PGO., VP Exploration and Director who acts as the Company’s Qualified Person, and is not independent of the Company.

About Nine Mile Metals Ltd.:

Nine Mile Metals Ltd. is a Canadian public mineral exploration company focused on VMS (Cu, Pb, Zn, Ag and Au) exploration in the world-famous Bathurst Mining Camp, New Brunswick, Canada. The Company’s primary business objective is to explore its four VMS Projects: Wedge VMS Project, Nine Mile Brook VMS Project, California Lake VMS Project, and the Canoe Landing Lake (East – West) VMS Project. The Company is focused on Critical Minerals Exploration (CME), positioning for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge with Gold.

Social Media

X: @NineMileMetals
LinkedIn: Nine Mile Metals
Facebook: @ Nine Mile Metals

ON BEHALF OF Nine Mile Metals LTD.

‘Patrick J Cruickshank, MBA’
CEO and Director
T: +1.506-800-0581
E: info@ninemilemetals.com

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as ‘will,’ ‘may,’ ‘would,’ ‘expect,’ ‘intend,’ ‘plan,’ ‘seek,’ ‘anticipate,’ ‘believe,’ ‘estimate,’ ‘predict,’ ‘potential,’ ‘continue,’ ‘likely,’ ‘could’ and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include that (a) prior to commencing the 2023 exploration drill program, the ground will be mapped at surface and representative samples analyzed to determine the base and precious metal assay values, (b) the Ag and Au values will be reported upon receipt of the certified assay results from ALS Global, and (c) our current financial raise will enable us to drill the Wedge Project (along with our Canoe Landing VMS Project and follow up exploration work on our California Lake VMS Project) this season as opposed to next year. Although Nine Mile believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Nine Mile can give no assurance that they will prove to be correct.

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

____________________________________________________________________________________

The Canadian Venture Building, 82 Richmond Street East, Toronto, ON M5C 1P1 (T) (506) 804-6117
www.ninemilemetals.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/283358

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As governments scramble to secure supplies of rare earth elements, a new engineering study from Malaysia has cast fresh light on why China continues to dominate one of the most critical parts of the supply chain—processing.

The research zeroes in on what many industry insiders already regard as the hardest step in rare earth production: separating neodymium and praseodymium to the ultra-high purity levels required for permanent magnets.

Rare earth elements tend to occur in clusters and behave almost identically at the chemical level. Neodymium and praseodymium, two of the most important inputs for high-performance magnets, sit next to each other on the periodic table.

This proximity makes them extremely difficult to separate cleanly. Even with viable ore, the separation step is so complex and capital-intensive that it continues to favor countries like China that already operate such systems at scale.

What makes this phase more complex, according to the research, is that separating neodymium from praseodymium to magnet-grade purity requires an extraordinary number of repetitions.

Their modeled plant design calls for roughly 62 equilibrium stages, compared with as few as 16 stages for earlier, bulk separations. In practical terms, this means that a facility capable of producing magnet-grade material must be vast, expensive, and technically sophisticated.

Loosening the grip

China’s dominance stems largely from its ability to meet this requirement at industrial scale. While the country accounts for about 60 percent of global rare earth mining, it processes close to 90 percent of the world’s supply.

That dominance did not happen by accident. After acquiring early separation know-how from France in the 1980s, China spent decades refining solvent extraction techniques, training engineers, and scaling plants far beyond what most countries were willing or permitted to build.

Today, China produces roughly 70,000 metric tons of refined rare earths per year. It also controls nearly all processing of heavy rare earth elements, which are even more difficult to separate and are critical for high-temperature and defense applications.

Thus, the Malaysian study reinforces why that advantage persists. It shows that even when geology is favorable, processing remains the true barrier to entry.

This reality has sharpened concerns in the US and its allies, especially as China has shown a willingness to use rare earths as a geopolitical tool.

In 2010, Beijing restricted exports to Japan during a diplomatic dispute. In 2023, it imposed global restrictions on the export of rare earth processing and separation technologies, making it harder for competitors to build midstream capacity.

Those moves have heightened urgency in Washington. Rare earths are essential to modern defense systems, from fighter jets and submarines to precision-guided munitions, as well as to electric vehicles and consumer electronics.

Despite being the world’s second-largest rare earth producer, most material mined domestically has historically been sent to China for separation. Until recently, the country lacked commercial-scale facilities capable of turning ore into finished magnet materials.

This is the reality that the rest of the world is trying to slowly change. Since 2020, the US Department of Defense has committed hundreds of millions of dollars to rebuilding a “mine-to-magnet” supply chain, with projects concentrated largely in Texas.

These include light and heavy rare earth separation plants, metal and alloy production, and permanent magnet manufacturing.

Even so, near-term capacity remains small relative to China’s. New facilities will take years to ramp up, and most focus initially on light rare earths rather than the heavier elements where China’s dominance is nearly absolute.

From Project Vault to Africa: US accelerates rare earth supply chain strategy

The United States is stepping up efforts to diversify rare earth supply beyond China, backing early-stage projects aimed at strengthening non-Chinese production and processing capacity.

One such move came in February, when the US Trade and Development Agency (USTDA) confirmed its intention to support Altona Rare Earths’ (LSE:REE) Monte Muambe rare earths project in Mozambique.

The announcement was made by USTDA Deputy Director and Chief Operating Officer Thomas Hardy during a high-level forum on US support for critical mining projects in sub-Saharan Africa, attended by Altona executives.

USTDA’s support is expected to help define the technical and financial development pathway for Monte Muambe, which hosts rare earth elements used in permanent magnets, defence systems and energy transition technologies. The backing remains subject to the execution of a formal grant agreement.

The commitment aligns with broader US initiatives aimed at reshaping critical mineral supply chains, including recent announcements tied to Project Vault — Washington’s effort to secure strategic reserves and reduce reliance on Chinese-dominated processing and refining. It also coincides with the launch of the Forum on Resource Geostrategic Engagement (FORGE), unveiled at the 2026 Critical Minerals Ministerial as a platform to mobilise capital and diplomatic support for resilient mineral supply networks.

While Monte Muambe remains at an early stage, Altona is also awaiting assay results from recent fluorspar and gallium drilling, which the company believes could further enhance the project’s strategic appeal. Fluorspar is a key industrial mineral used in steelmaking, chemicals and battery supply chains, areas where China also holds significant market share.

Taken together, the US backing of Monte Muambe underscores how governments are increasingly using policy tools, financing support and strategic partnerships to counterbalance China’s continued dominance in rare earth processing, a reality highlighted in the recent Malaysian report.

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

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Locksley Resources Limited (ASX: LKY; OTCQX: LKYRFADR: LKYLY) announced a major new target zone revealed by underground mapping at its Desert Antimony Mine (DAM), part of the company’s Mojave Project.

This notable finding, the Beefeater Shear, is a shear zone corridor mapped at widths of up to 10-15 meters and a result of a comprehensive Stage III technical review focusing on the Northern Block. This included high-resolution underground mapping at the DAM and regional structural analysis. More information can be found here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03054294-6A1311088&v=undefined.

‘Locksley’s geology team considers Beefeater to share the same structural timing and kinematic history as the DAM mineralized vein system to the West,’ said Kerrie Matthews, Managing Director and CEO of Locksley. She added that these insights along with the validation of project-wide radiometric targets, pave the way for targeted sampling and drilling to confirm mineralization and economic potential. ‘This allows us to focus on extensions with greater certainty,’ she said, noting that by mapping the underground workings at DAM the company has essentially ‘unlocked’ the geometry of the system.

‘We now see exactly how high-grade, mineralized blocks have been created by later structural events,’ she affirmed adding the identification of the 10-15 meter Beefeater Shear provides Locksley with a new exploration target that can increase the exploration pipeline of critical mineral projects on the Mojave claims. ‘We look forward to receiving assays from the various surface and underground sampling,’ she said.

Locksley Resources (https://www.locksleyresourcescom.au) is focused on critical minerals in the U.S. The company is actively advancing the Mojave Project in California, targeting rare earth elements (REEs) and antimony. Locksley is executing a mine-to-market strategy for antimony, aimed at reestablishing domestic supply chains for critical materials, underpinned by strategic downstream technology partnerships with leading U.S. research institutions and industry partners. This targeted approach, combined with resource development with innovative processing and separation technologies, positions Locksley to play a role in advancing U.S. critical materials independence.

Contact: Beverly Jedynak, beverly.jedynak@viriathus.com, 312-943-1123; 773-350-5793

 

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Flow Metals Corp. (CSE: FWM) (‘Flow Metals’ or the ‘Company’) is pleased to report that it has entered into an option agreement dated February 9, 2026 (the ‘Option Agreement’) with Go Metals Corp. (‘Go Metals’) to acquire the Monster IOCG project (the ‘Monster Project’), located approximately 90 kilometres north of Dawson City in the traditional territory of the Tr’ondek Hwech’in First Nation.

‘The acquisition of the Monster Project represents a Tier 1-scale opportunity and positions Flow Metals with meaningful exposure to both gold and copper. Our team has long believed in the Yukon’s exceptional mineral potential since we began working in the region in 2010, and the Monster Project marks a pivotal step in building a premier exploration portfolio,’ said Scott Sheldon, CEO of Flow Metals.

Monster Property, Yukon – IOCG Exploration Target

The Monster Property is a discovery-stage copper exploration project in Yukon, with percent-level copper and cobalt mineralization identified in surface showings. Exploration has identified geological features and metal associations consistent with iron oxide copper-gold (‘IOCG’) style systems.

Copper-cobalt showings have been identified over approximately 14 km of strike, defining a mineralized corridor. Grab samples have returned percent-level copper values, including results up to 22.3% Cu and 9.6% Co. To date, 45 grab samples across the project met the strongly mineralized threshold. These occurrences are spatially associated with both magnetic and gravity anomalies. Three main targets have been identified: Bloom, Arena, and Beast, ranging between 1,300 and 3,500 metres in width. Selected samples from these targets are summarized in the tables below. Grab samples are selective by nature and may not represent average grades of mineralized zones.

Parts of the property are underlain by rocks of the Wernecke Breccia, a regionally extensive Paleoproterozoic (~1.8 Ga) iron oxide-rich breccia system. The rocks are characterized by extensive fracturing, brecciation, and iron oxide alteration developed over kilometre-scale zones and are interpreted to record repeated fluid movement through the crust. The resulting fracture networks provide permeable pathways capable of focusing metal-bearing fluids.

A 2021 percussion drilling program was limited by a drill booster failure but intersected 0.72% Cu over 5.0 feet within hematite-chlorite altered breccia interpreted as IOCG-style mineralization. These results confirmed subsurface mineralization, even though the drill hole ended short of the inverted gravity anomaly. True widths and continuity are unknown, and further drilling is required to test the three main gravity anomalies.

Bloom Target (1.9 km²) selected grab sample highlights:

Sample ID Cu (%) Co (%) Au (g/t) Ag (g/t)
J20-22 3.19 0.39 0.11 11.31
J23-32 0.46 9.61 1.17 1.47
H10 1.21 2.41 0.57 4.29
19MOH-052 1.88 0.01 0.01 21.08
19MOH-022 1.70 0.20 0.14 2.80

 

 A total of 28 samples at Bloom met the Company’s strongly mineralized threshold.

Arena Target (5.1 km²) selected grab sample highlights:

Sample ID Cu (%) Co (%) Au (g/t) Ag (g/t)
19MOJA-09 7.31 0.01 0.03 8.54
19MO-047 6.10 0.56 0.52 15.20
J48 3.81 0.01 0.02 53.52
J35 0.19 2.96 0.49 0.29
19MO-063 0.22 1.11 0.30 0.29

 

A total of 21 samples at Arena met the Company’s strongly mineralized threshold.

Beast Target (2.4 km²) selected grab sample highlights:

Sample ID Cu (%) Co (%) Au (g/t) Ag (g/t)
19MO-015 2.72 0.00 0.16 2.31
19MOH-015 22.33 0.00 0.01 0.28
M18-38 0.80 0.00 0.00 0.07
M18-39 0.82 0.00 0.00 0.08

 

A total of 4 samples at Beast met the Company’s strongly mineralized threshold.

Option Agreement – Monster Project

Pursuant to the Option Agreement, Flow Metals may acquire a 100% interest in the Monster Project by completing the following payments and share issuances (collectively, the ‘Option Consideration’):

  • 3,000,000 common shares of Flow Metals, payable within 10 business days of receipt of all required approvals and CSE acceptance;

  • 3,000,000 common shares of Flow Metals on the one year anniversary of the execution date;

  • $2,000,000, payable on the 120th day of commercial production; and

  • Go Metals will retain a 2% net smelter return royalty (‘NSR’) on the Monster Project.

The transaction constitutes a ‘related party transaction’ for the purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (‘MI 61-101’), as certain directors and/or officers of the Company are also directors and/or officers of Go Metals. The Company will comply with applicable requirements of MI 61-101 in connection with the transaction.

The transaction is exempt from the valuation and minority approval requirements of MI 61-101 pursuant to sections 5.5(a) and 5.7(1)(a), as the fair market value of the transaction is not more than 25% of Flow Metals’ market capitalization. Further, Evans & Evans has been retained to provide a fairness opinion to the board of directors of Go Metals in connection with the transaction. The fairness opinion is expected to address the fairness, from a financial point of view, of the transaction to Go Metals and is not a formal valuation.

Sixtymile Project

The Sixtymile district is a historic placer gold camp that has produced gold since the 1890s and remains active today. Ongoing placer operations continue to recover angular and crystalline gold, which is interpreted to indicate a nearby bedrock source. Flow Metals’ mineral claims cover key placer-producing drainages, including Bedrock, Miller, Glacier, and Little Gold creeks. The claims lie within a thrust-related deformation corridor extending at least nine kilometres across the property, which is interpreted to have acted as a major structural conduit for mineralizing fluids.

Recent geological reinterpretation, based on detailed re-logging of historic drill hole DDH-11-18, has identified a folded metasedimentary (turbidite) sequence within the host schist. Gold-bearing quartz veins are interpreted to occur preferentially within competent, quartz-rich layers that have been folded into antiformal geometries within the structural corridor. Historical drilling intersected 105.30 m at 0.51 g/t Au from 88.0 m, including 24.07 m at 1.57 g/t Au in DDH-11-18*. This refined, fold-controlled model provides a focused framework for targeting higher-grade shoots within deformed, quartz-rich horizons.

*These results are historical in nature, have not been independently verified by the Company, and should not be relied upon as a current estimate of mineralization.

About Flow Metals

Flow Metals group has maintained an active presence in the Yukon since 2018, building deep technical expertise and local relationships across the territory. Flow Metals has established a trusted network of experienced contractors and strong working relationships with both territorial and First Nation governments, providing the Company with a solid foundation to efficiently advance exploration projects in the North.

Qualified Person

Harley Slade, P. Geo., is the Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed and approved the technical information contained in this news release. Mr. Slade is Flow Metals Vice President of Exploration and a director of the Company.

For further information, please contact:

Scott Sheldon, President
604.725.1857
scott@flowmetals.com

Forward-Looking Information

This news release contains ‘forward-looking information’ within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements regarding: the completion of the transaction contemplated by the Option Agreement, including the timing of, and the Company’s ability to obtain, all required approvals; the Company’s ability to satisfy the conditions required to earn its interest in the Monster Project and the timing of any option payments, share issuances, milestone payments or other consideration; the exploration potential of the Monster Project and the Sixtymile Project; the Company’s planned exploration and development activities, including the scope, timing and results of future work programs and any future drilling; and other future plans, expectations, objectives or intentions of the Company.

Forward-looking information is based on assumptions that the Company believes are reasonable as of the date hereof, including assumptions regarding: the parties’ ability to satisfy the terms and conditions of the Option Agreement; the receipt of all required regulatory, third-party and exchange approvals, as applicable; the Company’s ability to obtain financing on acceptable terms, as required, to fund future exploration and development; the Company’s ability to access the properties and carry out planned work programs; the availability of contractors, equipment and other resources required to conduct exploration activities; and general business, economic and commodity price conditions.

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking information. These risks and uncertainties include, among others: the risk that required approvals may not be obtained on a timely basis or at all; the risk that the transaction contemplated by the Option Agreement may not be completed as contemplated or at all; the risk that the Company may not satisfy the conditions required to earn its interest in the Monster Project; risks inherent in exploration and development, including that exploration results may not be indicative of future results; operational and technical risks; changes in project parameters as plans continue to be refined; commodity price fluctuations; market volatility; and other risks described in the Company’s public disclosure documents available under the Company’s profile on SEDAR+.

Readers are cautioned not to place undue reliance on forward-looking information. All forward-looking information contained in this release is made as of the date of this release, and the Company disclaims any intent or obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws.

The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/283352

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VANCOUVER, BC / ACCESS Newswire / February 10, 2026 / Earthwise Minerals Corp. (CSE:WISE,OTC:HWKRF)(FSE:966) (‘Earthwise‘ or the ‘Company‘) is pleased to announce that it has completed its non-brokered private placement financing (the ‘Offering‘) announced January 30, 2026. The Company has raised gross proceeds of $601,804.49 by issuing a total of 17,194,414 non-flow through units (‘NFT Units’) at a price of $0.035 per unit.

Each NFT Unit shall consist of one common share in the authorized share structure of the Company (‘NFT Share’) and one common share purchase warrant (‘NFT Warrant’). Each NFT Warrant will entitle the holder thereof to purchase one common share at an exercise price of $0.05 for a period of 36 months from the date of issuance. The Company issued 17,194,414 NFT warrants in the Offering.

The Company intends to use the net proceeds from the Offering for general working capital and exploration at the Iron Range Gold Project.

No Finders’ fees were paid in connection with the Offering. In accordance with applicable Canadian securities laws, all securities issued pursuant to the Offering will have a hold period of four months and one day from the date of issuance.

In connection with the Offering, Karen Mate, the Company’s director, acquired 337,143 NFT Units (the ‘Insider Subscription’). The Insider Subscription constituted a ‘related party transaction’ within the meaning of the policies of the Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (‘MI 61-101’), but was exempt from the formal valuation and minority shareholder approval requirements pursuant to sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101 on the basis that neither the fair market value of shares subject to the Insider Subscription nor the consideration paid in connection with the Insider Subscription exceeded 25% of the Company’s market capitalization calculated in accordance with MI 61-101. A material change report was not filed more than 21 days prior to closing of the Offering because the Insider Subscription was not finalized until shortly prior to the completion of the Offering.

None of the securities issued in connection with the Offering will be registered under the United States Securities Act of 1933, as amended (the ‘1933 Act‘), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.

Change in Management

Earthwise Minerals Corp. is very pleased to make significant additions to our team. Karen Mate has joined the Board of Directors and Andy Randell has joined the newly created Advisory Board as Geological Advisor to our team.

Karen Mate

Karen Mate is a senior capital markets professional with more than 30 years of experience in the Canadian investment industry, including extensive leadership roles within institutional equity sales and capital markets advisory.

Over her career, Karen held senior positions at several of Canada’s leading investment banks, including Director, Global Institutional Equity Sales at Scotia Capital, and senior leadership roles at Casimir Capital, Dundee Capital Markets, Marleau Lemire Securities, and National Bank Financial. She built a reputation as a trusted advisor to institutional investors and corporate management teams across multiple market cycles.

Karen has been directly involved in raising approximately $1 billion in equity capital, with a particular focus on the natural resources sector. Her experience spans equity financings, strategic positioning, investor communications, and corporate development for publicly listed companies.

In 2016, Karen founded Capital Markets Advisory CA, where she now advises Canadian junior mining companies on capital raising, strategic communications, corporate development, and market strategy. She brings deep expertise in equity capital markets, management oversight, risk assessment, and investor relations, supported by an extensive network of long-standing institutional and industry relationships.

As a Director of Earthwise Minerals, Karen provides capital markets insight, strategic oversight, and governance support as the Company advances its exploration programs and long-term growth objectives.

Andy Randell, P.Geo

Andy Randell is a professionally registered geoscientist with more than 20 years of experience across mineral exploration, technical leadership, consulting, and industry governance.

Andy has held senior geological roles on gold-focused exploration projects in Canada and internationally, including positions as Project Geologist and Chief Geologist. His experience spans grassroots exploration through advanced-stage projects, with a strong emphasis on structural geology, disciplined targeting, and responsible exploration practices.

In addition to his operational experience, Andy is the Founder of SGDS Hive, a geoscience consultancy that advises exploration and mining companies globally on technical evaluation, project strategy, and exploration best practices.

Andy is an active contributor to the Canadian mineral exploration and professional geoscience community. He currently serves on the Board of Directors of the Association for Mineral Exploration (AME) and is the Chair of a newly formed advocacy body within Engineers and Geoscientists British Columbia (EGBC). He has also taught senior-level university courses in Indigenous relations, sustainability, and mining law and ethics.

Andy is the Founder of Aeonian Resources Corp. and was awarded the Bedford Young Mining Professional Award by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) in recognition of his contributions to the industry.

As Geological Advisor to Earthwise Minerals, Andy provides independent technical insight and strategic guidance to support the Company’s exploration programs and long-term development objectives.

Solomon Kasirye

Earthwise Minerals announces the resignation of Mr. Solomon Kasirye as director of the Company, effective immediately. Earthwise wishes to thank Mr. Kasirye for his contributions to the Company.

About Earthwise Minerals

Earthwise Minerals Corp. (CSE:WISE,OTC:HWKRF)(FSE:966) is a Canadian junior exploration company focused on advancing the Iron Range Gold Project in southeastern British Columbia near Creston, B.C. The Company holds an option to earn up to an 80% interest in the fully permitted project, which is road-accessible and situated within a prolific mineralized corridor. The property covers a 10 km x 32 km area along the Iron Range Fault System and hosts multiple high-grade gold showings and large-scale geophysical and geochemical anomalies.

For more information, visit www.earthwiseminerals.com.

Earthwise Minerals Corp.,
ON BEHALF OF THE BOARD
‘Mark Luchinski’

Contact Information:
Mark Luchinski
Chief Executive Officer, Director
Telephone: (604) 506-6201
Email: luch@luchccorp.com

Forward Looking Statements

This news release includes statements that constitute ‘forward-looking information’ as defined under Canadian securities laws (‘forward-looking statements’) including, without limitation, statements respecting the Offering and the intended use of proceeds therefrom. Statements regarding future plans and objectives of the Company are forward looking statements that involve various degrees of risk. Forward-looking statements reflect management’s current views with respect to possible future events and conditions and, by their nature, are subject to known and unknown risks and uncertainties, both general and specific to the Company. Although the Company believes the expectations expressed in its forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance, and actual outcomes may differ materially from those in forward-looking statements. Additional information regarding the various risks and uncertainties facing the Company are described in greater detail in the ‘Risk Factors’ section of the Company’s annual management’s discussion and analysis and other continuous disclosure documents filed with the Canadian securities regulatory authorities which are available at www.sedarplus.ca. The Company undertakes no obligation to update forward-looking information except as required by applicable law. The reader is cautioned not to place undue reliance on forward-looking statements.

For more information, please contact Mark Luchinski, Chief Executive Officer and Director, at luch@luchccorp.com or (604) 506-6201.

SOURCE: Earthwise Minerals Corp.

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