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Tartisan Nickel Corp. (CSE: TN,OTC:TTSRF) (OTCQX: TTSRF) (FSE: 8TA) (‘Tartisan’, or the ‘Company’) is pleased to provide an update on the Phase 1 diamond drill program at the Company’s Kenbridge Nickel-Copper-Cobalt Project, Sioux Narrows, Northwestern Ontario. The Phase 1 drill program was designed to test the on strike and down dip potential for additional nickel sulphide mineralization to enhance the size and grade of the Kenbridge Deposit.

A total of 3,191m of drilling has been completed to date. The first 4 drill targets have been completed (drill holes KB26-207, KB26-208, KB26-209 and KB26-210 outlined on Figure 1). Samples were delivered to AGAT Labs in Thunder Bay for analysis.

Reported in this release are the results from the 4th hole KB26-210. Results from the hole confirm both A and B zones were intersected as outlined in the Table 1 below. Zone A was intersected from 762.4 to 787.0m drill depth and returned 0.71% Ni, 0.56% Cu over 24.6 metres including 6.1m of 1.17% Ni, 1.45% Cu from 762.4 to 768.5m drill depth and 2.0 m of 1.73% Ni, 0.31% Cu from 774.5 to 776.5m drill depth. Zone B was intersected from 800.2m to 806.0m drill depth. Results were 0.27% Ni, 0.24% Cu over 5.8 metres. Drill core intersection widths are estimated to be between 65 and 80% true width.

Fig 1: Long section of Kenbridge deposit showing drilling targets. Completed or holes in progress are outlined in red circles.

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Mark Appleby, CEO of Tartisan Nickel Corp., stated, ‘The KB26-210-hole result represents a significant high-grade intercept. We are very encouraged to see the wider intersection as the deposit appears to now flare outwards at depth. Intersecting 24.6 metres of 0.71% Ni and 0.56% Cu including higher grade portions (1.17% Ni, 1.45% Cu over 6.1m and 1.73% Ni, 0.31% Cu over 2.0m) confirms continuity of significant nickel-copper mineralization in this system. These results will strengthen our ability and confidence in upgrading our resource and in the project’s overall potential. While we have now taken a brief pause for spring break up, the company will introduce Borehole EM down the drill holes completed in Phase 1 and commence Phase 2 drilling this spring. We look forward to drilling below the existing shaft bottom to test for the depth extension to the deposit shortly.’

Table 1: Highlight intervals (* denotes hole reported in this release)

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The Kenbridge Property is in the Kenora Mining District, Sioux Narrows, Ontario, Canada with all-season road access. The Kenbridge Deposit has an existing shaft to a depth of 2,042 ft (622 m), with level stations at 150 ft. (45 m) intervals below the shaft collar and two levels developed at 350 ft (107 m) and 500 ft (152 m) below the shaft collar.

Surveyed Hole Locations (Coordinates in UTM zone 15)

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Qualified Person

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in NI 43-101 and reviewed and approved by Dean MacEachern, P. Geo., an Independent Consultant to the Company and a Qualified Person as defined by NI 43-101.

QA/QC

Sample QA/QC procedures for Tartisan have been designed to meet or exceed industry standards. Drill core is collected from the diamond drill and placed in sealed core trays for transport to on-site sampling and core cutting facilities. The core is logged and samples taken from 0.3m to a maximum sample length of 1.5m. The core samples are split with a diamond blade saw with continuous running water, half of the sample is sent for lab testing, and the remaining half core is left in the core box for record or further sampling. The core samples are bagged in heavy plastic bags with 6 samples being placed into a rice bag for transport to AGAT Laboratories in Thunder Bay, ON or Calgary, AB for assay. Samples are submitted in batches of 50. 100g blind certified reference materials (CRMs) from CDN Resources, as well as, duplicates and blank samples are systematically inserted by the Company into the sample stream with reference to the mineralization in the sampled rock and analyzed as part of the Company’s quality assurance/quality control protocol, as well, AGAT labs implements their own quality control testing by inserting their own CRMs and Blanks in the sample stream for accredited testing.

All drill core samples were prepped and analyzed at AGAT Laboratories in Thunder Bay, Ontario or shipped to Calgary for testing. An ISO/IEC 17025 2017 certified independent laboratory from organizations like the Standards Council of Canada (SCC), the Canadian Association for Laboratory Accreditation (CALA), ANSI National Accreditation Board (ANAB) and the American Association of Laboratory Accreditation (A2LA). They maintain accreditations across their facilities in Alberta, Saskatchewan, Ontario, Nova Scotia, Newfoundland, Quebec and internationally.

NQ-diameter sawed half-core samples from the drilling program were securely sent by Tartisan Nickel Corp’s geologists to AGAT Laboratories Ltd. (AGAT), with sample preparation in Thunder Bay, Ontario, and analysis in Thunder Bay, Ontario & Calgary, Alberta. Samples were processed for Au, Pt and Pd analysis by 50-gram fire assay with ICP-OES finish and for four acid digestion, multi-element analysis by inductively coupled plasma & mass spectrometry (ICP OES + MS). AGAT sample preparation and laboratory analysis procedures conform to requirements of ISO/IEC Standard 17025 guidelines and meet the requirements under NI 43-101 and CIM best practice guidelines. AGAT Laboratories is independent of Tartisan Nickel Corp.

Samples were dried and crushed to 2 mm, from which a 250 g sub-sample split was then pulverized to 85% passing a 75 micron sieve. Following preparation, assays were determined by the ICP OES method. A 0.25 g aliquot of the prepared pulp was digested in a 4-acid solution consisting of hydrochloric, nitric, perchloric and hydrofluoric acids. 4-acid is a near total digest and only the most highly resistant minerals are not dissolved. The resulting solution was analyzed via ICP-MS and ICP-ES for 8 elements and was corrected for inter-element spectral interferences. Lower detection limits for this procedure are 0.01 ppm for nickel, 0.01 ppm for copper, 0.01 ppm for cobalt, 0.01 ppm for platinum, 0.01 ppm palladium, 0.01 ppm silver and 0.01 ppm for gold.

Samples with initial results beyond the upper detection limit of the ICP OES method were analyzed by (201-071) 4 acid digest – Metals Package, ICP-OES/ICP-MS finish (CGY). The thresholds are >1% for nickel, copper and cobalt. AGAT Laboratories employs internal quality control standards, duplicates and blank samples at set frequencies. Tartisan Nickel Corp. stores all its drilled core on-site and takes pride in its facilities and strives for excellence in its QA/QC procedures.

About Tartisan Nickel Corp.

Tartisan Nickel Corp. is a Canadian-based critical minerals exploration and development company which owns, the Kenbridge Nickel-Copper Project near Sioux Narrows, Northwestern Ontario, the Sill Lake Silver Project near Sault Ste. Marie, Ontario as well as the Night Danger Turtle Pond Project near Dryden, Ontario.

Tartisan Nickel Corp. common shares are listed on the Canadian Securities Exchange (CSE: TN,OTC:TTSRF) (OTCQX: TTSRF) (FSE: 8TA). Currently, there are 152,215,641 shares issued and outstanding (156,287,356 fully diluted).

For further information, please contact Mark Appleby, President & CEO, and a Director of the Company, at 416-804-0280 (info@tartisannickel.com). Additional information about Tartisan Nickel Corp. can be found at the Company’s website at www.tartisannickel.com or on SEDAR+ at www.sedarplus.ca.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288216

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(TheNewswire)

Brossard, Quebec TheNewswire – le 12 mars 2026 CORPORATION Charbone (TSXV: CH,OTC:CHHYF; OTCQB: CHHYF; FSE: K47) (« Charbone » ou la « Société »), un producteur et distributeur nord-américain spécialisé dans l’hydrogène propre Ultra Haute Pureté (« UHP ») et les gaz industriels stratégiques, est heureuse d’annoncer sa participation à la conférence Hydrogen East du 13 avril 2026, ainsi que le développement d’un hub d’approvisionnement dédié à l’hydrogène UHP et aux gaz de spécialité stratégiques dans le marché du Canada Atlantique (« Hub Atlantique »).

Cette initiative marque une nouvelle étape dans la stratégie de déploiement de Charbone visant à établir un réseau intégré de hubs de production, stockage et distribution d’hydrogène et de gaz industriels stratégiques en Amérique du Nord.

Le futur Hub Atlantique qui sera géré par sa filiale Charbone Nouvelle-Écosse Inc. et opérationnel d’ici juin 2026, servira d’installation physique dédiée au stockage local et à la distribution régionale, permettant d’assurer un approvisionnement fiable et flexible en hydrogène pour une variété d’utilisateurs industriels exigeants, incluant les secteurs de la défense, de la fabrication avancée, de la mobilité et des infrastructures énergétiques.

Charbone est active dans la région de l’Atlantique depuis plus de trois (3) années et a développé une connaissance approfondie des marchés de la Nouvelle-Écosse, du Nouveau-Brunswick et de l’Île-du-Prince-Édouard, tout en travaillant sur différentes initiatives avec des clients et partenaires potentiels d’envergure, notamment dans les domaines suivants :

  • infrastructures portuaires 

  • chantiers navals et installations de la Marine canadienne 

  • chaîne d’approvisionnement de composantes automobiles 

  • entreprises de services publics et énergétiques 

  • entreprises de recherche et développement 

  • solutions de transport avancées à éro émission 

Ce modèle « hub-and-spoke » constitue un pilier de la stratégie de Charbone visant à déployer progressivement un réseau évolutif de hubs d’approvisionnement en hydrogène et en gaz industriels stratégiques à travers le Canada et les États-Unis, permettant de soutenir les marchés régionaux grâce à des capacités locales de stockage, de logistique et de distribution.

« La région du Canada Atlantique représente un marché stratégique pour Charbone, notamment en raison de la présence d’infrastructures de grandes qualités, d’utilisateurs industriels d’envergures et d’initiatives de transition énergétique, » a déclaré Dave B. Gagnon, PDG de Charbone. La Société prévoit que ce hub jouera un rôle structurant dans le développement de sa future plateforme logistique nord-américaine de l’hydrogène. »

Pour plus de détails sur la Conférence Hydrogen East, veuillez cliquer sur le lien ci-bas :

À propos de CORPORATION Charbone

Charbone est un développeur et producteur d’hydrogène propre Ultra Haute Pureté (UHP) doté d’une plateforme de distribution de gaz industriels en pleine expansion. Grâce à une approche modulaire, Charbone se concentre sur le développement d’un réseau d’usines de production d’hydrogène propre en Amérique du Nord et sur certains marchés à l’étranger, en commençant par son projet phare de Sorel-Tracy au Québec. Le modèle intégré de l’entreprise réduit les risques, améliore l’évolutivité et permet de diversifier ses sources de revenus grâce à des partenariats dans le domaine de l’hélium et d’autres gaz de spécialités. Charbone s’engage à soutenir la transition mondiale vers une économie bas carbone en fournissant des solutions d’hydrogène propre et de gaz de spécialités accessibles et décentralisées, tout en soutenant les clients industriels mal desservis en gaz et en accélérant la transition vers une énergie propre locale. Charbone est coté sur la bourse de croissance TSX (TSXV: CH,OTC:CHHYF); sur les marchés OTC (OTCQB: CHHYF); et à la Bourse de Francfort (FSE: K47). Pour plus d’informations, veuillez visiter www.charbone.com.

Énoncés prospectifs

Le présent communiqué de presse contient des énoncés qui constituent de « l’information prospective » au sens des lois canadiennes sur les valeurs mobilières (« déclarations prospectives »). Ces déclarations prospectives sont souvent identifiées par des mots tels que « a l’intention », « anticipe », « s’attend à », « croit », « planifie », « probable », ou des mots similaires. Les déclarations prospectives reflètent les attentes, estimations ou projections respectives de la direction de Charbone concernant les résultats ou événements futurs, sur la base des opinions, hypothèses et estimations considérées comme raisonnables par la direction à la date à laquelle les déclarations sont faites. Bien que Charbone estime que les attentes exprimées dans les déclarations prospectives sont raisonnables, les déclarations prospectives comportent des risques et des incertitudes, et il ne faut pas se fier indûment aux déclarations prospectives, car des facteurs inconnus ou imprévisibles pourraient faire en sorte que les résultats réels soient sensiblement différents de ceux exprimés dans les déclarations prospectives. Des risques et des incertitudes liés aux activités de Charbone peuvent avoir une incidence sur les déclarations prospectives. Ces risques, incertitudes et hypothèses comprennent, sans s’y limiter, ceux décrits à la rubrique « Facteurs de risque » dans le rapport de gestion de la Société pour la période terminée le 30 septembre 2025, qui peut être consultée sur SEDAR+ à l’adresse www.sedarplus.ca; ils pourraient faire en sorte que les événements ou les résultats réels diffèrent sensiblement de ceux prévus dans les déclarations prospectives.

Sauf si les lois sur les valeurs mobilières applicables l’exigent, Charbone ne s’engage pas à mettre à jour ni à réviser les déclarations prospectives.

Ni la Bourse de croissance TSX ni son fournisseur de services de réglementation (tel que ce terme est défini dans les politiques de la Bourse de croissance TSX) n’acceptent de responsabilité quant à la pertinence ou à l’exactitude du présent communiqué.

 

Contact Corporation Charbone

Téléphone: +1 450 678 7171

Courriel: ir@Charbone.com

Benoit Veilleux

Chef de la direction financière et secrétaire corporatif

 

Copyright (c) 2026 TheNewswire – All rights reserved.

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Nevgold Corp. (‘NevGold’ or the ‘Company’) (TSXV:NAU,OTC:NAUFF) (OTCQX:NAUFF) (Frankfurt:5E50) is pleased to announce that the permits have been received and a drill rig is mobilizing to its Limousine Butte Project (the ‘Project’, ‘Limo Butte’) in Nevada. The drilling will test the historical gold heap leach pads for antimony with the objective of advancing the leach pads to a near-term antimony production scenario. This is one of the only near-term, at-surface antimony production scenarios in the United States with a path to potential antimony metal production by 2027. 

NevGold CEO, Brandon Bonifacio, comments: ‘There are very few opportunities like the near-term antimony production potential from the historical gold leach pads at Limo Butte. There is a clear mandate in the United States to find near-term production from a number of Critical Minerals, and we have one of those opportunities which we are rapidly advancing. We are in an advantageous position as we have oxide antimony at surface amendable to leaching at a brownfield mine site in the State of Nevada, which is one of the top mining jurisdictions globally with a systematic permitting regime and strong community support. Our focus is to drill the leach pads to advance to a Mineral Resource Estimate by the beginning of Q2-2026, which will define the grade and quantities of contained antimony that we have on the pads. Once an MRE is delivered, we will be able to evaluate the various development scenarios to extract the antimony from the leach pads, with the objective of reaching antimony metal production by 2027. We have the opportunity to be one of the near-term solutions to the United States building a fully vertically integrated antimony supply chain

Key Highlights

  • Drilling will advance the leach pads to a Mineral Resource Estimate (‘MRE’) by the beginning of Q2-2026 building on the Phase 1 sampling completed (see News Release from January 6, 2026):
    • The MRE is a key step in defining the quantities of antimony that could be processed in the near-term from the historical gold leach pads
    • Drilling will be completed over the coming weeks
    • Certain areas of the leach pads had Phase I sampling results of 0.74% Sb to 0.81% Sb (See Figure 1)
      • 2025 testwork using acid leaching resulted in antimony recoveries of up to 92%
      • Acid Leaching is being reviewed as the preferred metallurgical process for antimony as there is no reliance on downstream processing at third-party smelters; the acid leaching scenario would produce antimony metal at site through a conventional leaching scenario, which has many similarities to Solvent Extraction-Electrowinning (SX/EW) used for oxide copper in the copper industry
      • Antimony recovery has minimal to no impact on gold recovery; the gold in the historical leach pads could also be recovered in the future after antimony processing is completed
    • Antimony is one of the highest priority Critical Minerals due to its strategic importance and military applications; Limo Butte is a brownfield mine site located in the State of Nevada with near-surface, high-grade antimony mineralization
      • Historical leach pads provide opportunity for near-term antimony production
      • A larger commercial gold-antimony opportunity could be advanced and developed in parallel to the historical leach pad opportunity, including drilling, metallurgical testwork, and the preparation of a Mineral Resource Estimate (‘MRE’) at Resurrection Ridge (including high-grade antimony Bullet Zone discovery made in 2025) and Cadillac Valley
      • A staged project development approach offers various potential development scenarios over the next 12-24 months which may achieve near-term production and cash flow
    • 30 holes completed in the current 2025-2026 drill program with 12 holes pending release 

    Limo Butte Planned 2026 Activities / Status Update
    NevGold will continue its active exploration program at Limo Butte including:

    • Evaluating the historical geological database with focus on gold and antimony (completed);
    • Advancing metallurgical testwork (ongoing);
    • Continuing to drill test gold-antimony targets (5,000 meters (30 drillholes) completed, a further 20,000 meters is planned in 2026 focused on the Bullet Zone and Armory Fault discoveries);
    • Advancing the Crushed and Run of Mine (‘ROM’) leach pads to near-term antimony production (Drilling March-2026, MRE beginning of Q2-2026, ongoing metallurgical testwork);
    • Completing initial gold-antimony Mineral Resource Estimate (MRE) (in progress).

    Figure 1 – Historical gold leach pads and summary of Phase 1 pit sampling antimony results released on January 6, 2026. The results show consistent antimony grade throughout both the Crushed and ROM pads. The historically mined leach pads have material at surface that was previously mined and crushed with strong antimony-gold potential. To view image please click here

    Figure 2 – Historical gold leach pads and summary of Phase 1 pit sampling gold results released on January 6, 2026. The results show consistent gold grade throughout both the Crushed and ROM pads. The historically mined leach pads have material at surface that was previously mined and crushed with strong antimony-gold potential. 
    To view image please click here

    Figure 3 – Resurrection Ridge target area with the historically mined Golden Butte pit gold leach pads. 
    To view image please click here

    US Executive Order – Announced March 20, 2025
    The Company is pleased to report the sweeping Executive Order to strengthen American mineral production and reduce U.S. reliance on foreign nations for its mineral supply. Antimony (Sb) has been identified as an important ‘Critical Mineral’ in the United States essential for national security, clean energy, and technology applications, yet limited domestic mine supply currently exists.

    The Executive Order invokes the use of the Defense Production Act as part of a broad United States (‘US’) Government effort to expand domestic minerals production on national security grounds. As it relates to project permitting, the Order states that it will ‘identify priority projects that can be immediately approved or for which permits can be immediately issued, and take all necessary or appropriate actions…to expedite and issue the relevant permits or approvals.’ Furthermore, the Order includes provisions to accelerate access to private and public capital for domestic projects, including the creation of a ‘dedicated mineral and mineral production fund for domestic investments’ under the Development Finance Corporation (‘DFC’).

    This decisive action by the US Government highlights the urgent need to expand domestic minerals output to support supply chain security in the United States. This important Order will help revitalize domestic mineral production by improving the permitting process and providing financial support to qualifying domestic projects.

    Importance of Antimony
    Antimony is considered a ‘Critical Mineral’ by the United States based on the U.S. Geological Survey’s 2022 list (U.S.G.S. (2022)). ‘Critical Minerals’ are metals and non-metals essential to the economy and national security. Antimony is utilized in all manners of military applications, including the manufacturing of armor piercing bullets, night vision goggles, infrared sensors, precision optics, laser sighting, explosive formulations, hardened lead for bullets and shrapnel, ammunition primers, tracer ammunition, nuclear weapons and production, tritium production, flares, military clothing, and communication equipment. Other uses include technology (semi-conductors, circuit boards, electric switches, fluorescent lighting, high quality clear glass and lithium-ion batteries) and clean-energy storage.

    Globally, approximately 90% of the world’s current antimony supply is produced by China, Russia, and Tajikistan. Beginning on September 15, 2024, China, which is responsible for nearly half of all global mined antimony output and dominates global refinement and processing, announced that it will restrict antimony exports. In December-2024, China explicitly restricted antimony exports to the United States citing its dual military and civilian uses, which further exacerbated global supply chain concerns. (Lv, A. and Munroe, T. (2024)) The U.S. Department of Defense (‘DOD’) has designated antimony as a ‘Critical Mineral’ due to its importance in national security, and governments are now prioritizing domestic production to mitigate supply chain disruptions. Projects exploring antimony sources in North America play a key role in addressing these challenges.

    Perpetua Resources Corp. (‘Perpetua’, NASDAQ:PPTA, TSX:PPTA) has the most advanced domestic gold-antimony project in the United States. Perpetua’s project, known as Stibnite, is located in Idaho approximately 130 km northeast of NevGold’s Nutmeg Mountain and Zeus projects. Positive advancements at Stibnite including technical development and permitting has led to US$75 million in Department of Defense (‘DOD’) awards, over $1.8 billion in indicative financing from the Export Import Bank of the United States (‘US EXIM’) (see Perpetua Resources News Release from April 8, 2024) (Perpetua Resources. (2025)), and recent strategic investments of US$180 million from Agnico-Eagle Mines Limited (‘Agnico’) and US$75 million from JPMorganChase’s $1.5 trillion Security and Resiliency Initiative. (see Perpetua Resources News Release from October 27, 2025)

    Figure 4 – Limousine Butte Land Holdings and District Exploration Activity To view image please click here

    ON BEHALF OF THE BOARD

    ‘Signed’

    Brandon Bonifacio, President & CEO

    For further information, please contact Brandon Bonifacio at bbonifacio@nev-gold.com, call 604-337-4997, or visit our website at www.nev-gold.com.

    Sampling Methodology, Quality Control and Quality Assurance
    NevGold QA/QC protocols are followed on the Project and include insertion of duplicate, blank and standard samples in all drill holes. Drill, surface, and pit samples are sent to ISO 17025 certified American Assay Labs in Reno, Nevada. A 30g gold fire assay and multi-elemental analysis ICP-OES method were completed.

    The pit sampling was conducted by Greg French, CPG, the Company’s Vice President, Exploration, who is NevGold’s Qualified Person (‘QP’) under National Instrument 43-101. Mr. French also and reviewed and approved the technical information contained in this news release

    About the Company
    NevGold is an exploration and development company targeting large-scale mineral systems in the proven districts of Nevada and Idaho. NevGold owns a 100% interest in the Limousine Butte and Cedar Wash gold projects in Nevada, and the Nutmeg Mountain gold project and Zeus copper project in Idaho.

    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 release.

    Cautionary Note Regarding Forward Looking Statements

    This news release contains forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as ‘plan’, ‘expect’, ‘project’, ‘intend’, ‘believe’, ‘anticipate’, ‘estimate’, ‘suggest’, ‘indicate’ and other similar words or statements that certain events or conditions ‘may’ or ‘will’ occur. Forward-looking statements include, but are not limited to, the proposed work programs at Limousine Butte, the exploration potential at Limousine Butte, and the completion of future potential project milestones such as the potential Mineral Resource Estimate (‘MRE’) and reaching potential antimony production. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such risks include, but are not limited to, general economic, market and business conditions, and the ability to obtain all necessary regulatory approvals. There is some risk that the forward-looking statements will not prove to be accurate, that the management’s assumptions may not be correct or that actual results may differ materially from such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

    References

    Blackmon, D. (2021) Antimony: The Most Important Mineral You Never Heard Of. Article Prepared by Forbes.

    Kurtenbach, E. (2024) China Bans Exports to US of Gallium, Germanium, Antimony in response to Chip Sanctions. Article Prepared by AP News.

    Lv, A. and Munroe, T. (2024) China Bans Export of Critical Minerals to US as Trade Tensions Escalate.  Article Prepared by Reuters.

    Lv, A. and Jackson, L. (2025) China’s Curbs on Exports of Strategic Minerals. Article Prepared by Reuters.

    Perpetua Resources. (2025) Antimony Summary.  Articles and Videos Prepared by Perpetua Resources.

    Sangine, E. (2022) U.S. Geological Survey, Mineral Commodity Summaries, January 2023. Antimony Summary Report prepared by U.S.G.S

    U.S.G.S. (2022) U.S. Geological Survey Releases 2022 List of Critical Minerals. Reported Prepared by U.S.G.S

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    This article has been disseminated on behalf of LaFleur Minerals and may include paid advertising. Disclosure: This does not represent material news, partnerships or investment advice.

    via MiningNewsWire — LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF) (FSE: 3WK0) today announces its placement in an editorial published by MiningNewsWire (‘MNW’), one of 75+ brands within the Dynamic Brand Portfolio@IBN (InvestorBrandNetwork), a specialized communications platform with a focus on financial news and content distribution for private and public companies and the investment community.

    To view the full publication, ‘Record Gold Prices Reshape Opportunities for Emerging Producers,’ please visit: https://ibn.fm/yqQ5N

    Gold prices have surged to record and near-record levels in recent months as persistent inflation concerns, geopolitical uncertainty and strong central-bank demand continue to drive investor interest in the precious metal. Major financial institutions have raised their outlook for bullion, with some analysts forecasting significantly higher prices over the next few years as global debt levels rise and economic volatility persists. In this environment, gold developers and emerging producers are working to strengthen their asset bases and accelerate projects that can respond to strong market conditions.

    Among those is LaFleur Minerals Inc., which has taken several notable steps to advance its position within Québec’s prolific Abitibi Gold Belt. The company recently released a positive Preliminary Economic Assessment (‘PEA’) for its Swanson Gold Project sourcing mineralized material from its nearby gold mill, confirmed strong drilling results that reinforce the deposit’s growth potential and continued advancing refurbishment work at its fully permitted Beacon Gold Mill. Together, these developments reflect LaFleur’s strategy of combining exploration success with existing infrastructure as it works toward restarting gold production and strengthening its foothold in a rising gold market.

    About LaFleur Minerals Inc.

    LaFleur Minerals is focused on the development of district-scale gold projects in the Abitibi Gold Belt near Val-d’Or, Québec. The Company’s mission is to advance mining projects with a laser focus on our resource-stage Swanson Gold Project and the Beacon Gold Mill, which have significant potential to deliver long-term value. The Swanson Gold Project is approximately 18,304 hectares (183 km2) in size and includes several prospects rich in gold and critical metals previously held by Monarch Mining, Abcourt Mines and Globex Mining. LaFleur has recently consolidated a large land package along a major structural break that hosts the Swanson, Bartec and Jolin gold deposits and several other showings, which make up the Swanson Gold Project. The Swanson Gold Project is easily accessible by road allowing direct access to several nearby gold mills, further enhancing its development potential. LaFleur Minerals’ fully permitted and refurbished Beacon Gold Mill is capable of processing more than 750 tonnes per day and is being considered for processing mineralized material from Swanson and for custom milling operations for other nearby gold projects.

    Qualified Person Statement – All scientific and technical information contained in the LaFleur Minerals Market Awareness Profile (MAP) has been reviewed and approved by Louis Martin, P.Geo. (OGQ), Exploration Manager and Technical Advisor of the company and considered a Qualified Person for the purposes of NI 43-101.

    NOTE TO INVESTORS: The latest news and updates relating to LFLR are available in the company’s newsroom at http://ibn.fm/LFLRF  

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    Cartier Resources Inc. (″ Cartier ″ or the ″ Company ″) (TSXV: ECR,OTC:ECRFF; FSE: 6CA) is pleased to announce the ninth batch of results from the 100,000-m drilling program (2 drill rigs), for the Portal Sector, specifically from the North Simon Zone (″ NSZ ″) on the 100%-owned Cadillac Project, located in Val-d’Or (Abitibi, Quebec).

    Strategic Highlights from Portal Sector

    Drill Hole Results (Figures 1 to 4)

    • CA26-314 intersected 7.1 g/t Au over 8.0 m including 38.8 g/t Au over 1.0 m (NS Zone).
    • CA26-325 graded 6.8 g/t Au over 2.2 m (NS Zone).
    • CA26-308 reported 3.3 g/t Au over 4.2 m (5C5 Zone).

    Significance for Investors

    • Holes CA26-314 and 325 confirm the newly recognized NSZ high-grade gold zone near surface. The mineralization extends over 200 m in strike length and remains open in all directions, suggesting significant upside exploration potential.
    • Most importantly, NSZ is strategically located just 150 metres east of historical ramp. This logistical advantage should enhance the development flexibility and economics of Cadillac Project.

    Next Steps

    • Further expansion drilling is planned to significantly refine the geological model, verify the mineralization continuity and determine the gold enrichment vectors.
    • Additional exploration drilling is required to test several new high-priority regional targets along strike of the Portal Sector and the Cadillac Fault Zone, backed by detailed structural and geological modelling and VRIFY’s artificial intelligence (AI) driven targeting.

    These results of Portal Sector are particularly exciting as they confirm the presence of a fourth gold sector with strong exploration potential. Benefiting from the existing road access and historical infrastructure, this new sector has the potential for resource growth while being strategically located with respect to the Main Sector. We believe it could significantly enhance the value of the project and provide additional flexibility as we continue to advance and expand the overall development opportunities.‘ – Ronan Deroff, Vice President Exploration of Cartier.

    Table 1: Drill hole best assay results from Portal Sector

    Hole Number From (m) To (m) Core Length** (m) Au (g/t) Uncut Vertical Depth (m) Zone
    CA26-308 122.8 127.0 4.2 3.3 ≈80 5C5
    CA26-314 127.0 135.0 8.0 7.1*

    ≈110

    NS

    Including 127.0 128.0 1.0 18.1
    Including 134.0 135.0 1.0 38.8*
    CA26-325 29.0 31.2 2.2 6.8

    ≈25

    NS

    Including 29.0 30.0 1.0 5.8
    Including 30.0 31.2 1.2 7.6

    * Occurrences of visible gold (VG) have been noted in the drill core at various intervals. ** Based on the observed intercept angles within the drill core, true thicknesses are estimated to represent approximately 50-90% of the reported core length intervals.

    Figure 1: Location of the new drill results (regional plan view)

    Figure 2: Location of the new drill results (regional longitudinal section)

    Figure 3: Plan view, cross and long sections of the Portal Sector

    Figure 4: Photos of the drill core from hole CA26-314

    Portal Sector

    The Portal Sector is a highly prospective area featuring the new North Simon Zone with indicated resources of 9,600 ounces (0.2 million tonnes at 1.9 g/t Au) and inferred resources of 112,600 ounces (1.8 million tonnes at 2.0 g/t Au). The latter is the first ever resource estimate in this sector for which there has been only limited and relatively shallow testing. This sector hosts several newly defined high-priority drill targets.

    This sector lies along an east-west trending, strongly sheared corridor (Cadillac Fault Zone) and occurs at the contact between the hanging wall turbiditic sedimentary rocks (wacke-mudrock), locally conglomerates and iron formations of Cadillac Group and the footwall mafic volcanics (basalt) of Piché Group. This lithological unit is a favorable horizon for hydrothermal fluid flow, likely related to synvolcanic gold deposition.

    The Portal Sector, defined by at least four parallel gold-rich zones, are typically and primarily associated with a fine-grained and disseminated arsenopyrite-pyrrhotite mineralization, with a pervasive biotite-chlorite-carbonate alteration, all crosscut by late-stage smoky and white quartz vein and veinlet stockworks containing visible gold. Locally, accessory minerals such as pyrite and tourmaline are observed.

    Milestones of 2025-2027 Exploration Program

    100,000 m Drilling Program (Q3 2025 to Q2 2027)

    The ambitious 600-hole drilling program will both expand known gold zones and test new shallow surface high-potential targets. The objective is to unlock the camp-scale, high-grade gold potential along the 15 km Cadillac Fault Zone. It is important to note that Cartier’s recent consolidation of this large land holding offers the unique opportunity in over 90 years for unrestricted exploration.

    Environmental Baseline Studies & Economic Evaluation of Chimo mine tailings (Q3 2025 to Q3 2026)

    The baseline studies will be divided into two distinct parts which include 1) environmental baseline desktop study and 2) preliminary environmental geochemical characterization. The initial baseline studies will provide a comprehensive understanding of the current environmental conditions and implement operations that minimize environmental impact while optimizing the economic potential of the project. These studies will be supplemented by an initial assessment of the economic potential of the past-producing Chimo mine tailings to determine whether a quantity of gold can be extracted economically.

    Metallurgical Sampling and Testwork Program (Q4 2025 to Q1 2026)

    The metallurgical testwork program includes defining of expected gold recovery rates and improving historical results from the Chimo deposit, as well as establishing metallurgical recovery data for the first-time for the East Chimo and West Nordeau satellite deposits, where no previous data exists. This comprehensive program will characterize the mineralized material, gold recovery potential and validate optimal grind size defining the most efficient and cost-effective flowsheet. The data generated will directly support optimized project development and have the potential to significantly reduce both capital and operating costs, while also improving the environmental footprint.

    Preliminary Economic Assessment (2026)

    Internal engineering studies have been initiated to validate a multitude of development scenarios that consider the updated MRE and current market environment. Following the selection of the most optimal scenario, a PEA will be completed which will also build upon the results of the metallurgical testwork program and the environmental baseline studies to unveil the updated development strategy and vision of the project.

    Table 2: Drill hole collar coordinates from Portal Sector

    Hole Number UTM Easting (m) UTM Northing (m) Elevation (m) Azimuth (°) Dip (°) Hole Length (m)
    CA26-308 331360 5320154 340 184 -44 144
    CA26-309 331360 5320154 340 191 -70 210
    CA26-310 331360 5320154 340 231 -78 261
    CA26-311 331278 5320204 338 213 -48 195
    CA26-312 331278 5320204 338 210 -74 261
    CA26-314 330937 5320470 335 207 -59 171
    CA26-315 330937 5320470 335 160 -70 204
    CA26-316 330937 5320470 335 184 -80 204
    CA26-317 330951 5320425 335 219 -44 120
    CA26-318 331011 5320439 335 213 -66 150
    CA26-319 331011 5320439 335 207 -81 171
    CA26-320 331037 5320425 335 188 -53 117
    CA26-323 331010 5320365 335 165 -46 75
    CA26-325 330946 5320385 335 204 -77 90

    Table 3: Drill hole detailed assay results from Portal Sector

    Hole Number From (m) To (m) Core Length* (m) Au (g/t) Uncut Vertical Depth (m) Zone
    CA26-308 88.0 89.0 1.0 1.8 ≈60
    And 122.8 127.0 4.2 3.3

    ≈80

    5C5

    Including 122.8 123.8 1.0 4.6
    Including 123.8 124.8 1.0 1.6
    Including 124.8 125.8 1.0 2.9
    Including 125.8 126.3 0.5 5.3
    Including 126.3 127.0 0.7 2.7
    CA26-309 164.9 166.0 1.1 1.3 ≈155
    And 188.0 189.0 1.0 1.6 ≈175 5C5
    CA26-310 242.3 243.0 0.7 4.0* ≈235 5C5
    CA26-311 142.0 143.0 1.0 1.8 ≈105
    And 166.0 167.0 1.0 3.5

    ≈125

    5C5

    And 170.0 171.0 1.0 1.0
    And 177.0 178.0 1.0 2.2
    And 178.0 179.0 1.0 1.0
    CA26-312 219.0 219.5 0.5 1.2 ≈210
    And 249.0 250.0 1.0 1.1 ≈235

    5C5

    And 251.0 252.0 1.0 1.4
    And 252.0 253.0 1.0 3.1
    CA26-314 33.0 34.0 1.0 1.1 ≈30

    And 34.0 35.0 1.0 1.8
    And 78.0 79.0 1.0 1.0 ≈70

    And 81.3 82.0 0.7 2.3
    And 91.5 92.0 0.5 2.1
    And 127.0 135.0 8.0 7.1* ≈110

    NS

    Including 127.0 128.0 1.0 18.1
    Including 134.0 135.0 1.0 38.8*
    CA26-315 44.5 45.5 1.0 1.2 ≈40
    And 80.0 81.2 1.2 3.5 ≈75
    CA26-316 194.0 195.0 1.0 1.2 ≈190

    NS

    And 197.0 198.0 1.0 1.7
    CA26-317 70.0 71.0 1.0 1.0 ≈45
    And 101.0 102.0 1.0 1.5 ≈65
    CA26-318 106.0 107.0 1.0 1.2 ≈95

    NS

    And 107.0 108.0 1.0 1.5
    CA26-319 76.0 77.0 1.0 1.2 ≈75
    CA26-320 37.0 38.0 1.0 2.0 ≈25
    CA26-323 40.5 41.5 1.0 1.0 ≈30
    CA26-325 15.0 16.0 1.0 2.7 ≈15
    And 29.0 31.2 2.2 6.8 ≈25

    NS

    Including 29.0 30.0 1.0 5.8
    Including 30.0 31.2 1.2 7.6

    * Occurrences of visible gold (VG) have been noted in the drill core at various intervals. ** Based on the observed intercept angles within the drill core, true thicknesses are estimated to represent approximately 50-90% of the reported core length intervals.

    Quality Assurance and Quality Control (QA/QC) Program

    The drill core from the Cadillac Project is NQ-size and, upon receipt from the drill rig, is described and sampled by Cartier geologists. Core is sawn in half, with one half labelled, bagged and submitted for analysis and the other half retained and stored at Cartier’s coreshack facilities located in Val-d’Or, Quebec, for future reference and verification. As part of Quality Assurance and Quality Control (QA/QC) program, Cartier inserts blank samples and certified reference materials (standards) at regular intervals into the sample stream prior to shipment to monitor laboratory performance and analytical accuracy.

    Drill core samples are sent to MSALABS’s analytical laboratory located in Val-d’Or, Quebec, for preparation and gold analysis. The entire sample is dried and crushed (70% passing a 2-millimeter sieve). The analysis for gold is performed on an approximately 500 g aliquot using Chrysos Photon Assay technology, which uses high-energy X-ray excitation with gamma detection to quickly and non-destructively measure gold content.

    Alternatively, samples are submitted to Activation Laboratories Ltd. (‘Actlabs’), located in either Val-d’Or or Ste-Germaine-Boulé, both in Quebec, for preparation and gold analysis. The entire sample is dried, crushed (90% passing a 2-millimetre sieve) and 250 g is pulverized (90% passing a 0.07-millimetre sieve). The analysis for gold is conducted using a 50 g fire assay fusion with atomic absorption spectroscopy (AAS) finish, with a detection limit up to 10,000 ppb. Samples exceeding this threshold are reanalyzed by fire assay with a gravimetric finish to determine high-grade values accurately.

    Both MSALABS and Actlabs are ISO/IEC 17025 accredited for gold assays and implement industry-standard QA/QC protocols. Their internal quality control programs include the use of blanks, duplicates, and certified reference materials at set intervals, with established acceptance criteria to ensure data integrity and analytical precision.

    Qualified Person

    The scientific and technical content of this press release has been prepared, reviewed and approved by Mr. Ronan Déroff, P.Geo., M.Sc., Vice President Exploration, who is a ″ Qualified Person ″ as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (″ NI 43-101 ″).

    About Cadillac Project

    The Cadillac Project, covering 14,000 hectares along a 15-kilometre stretch of the Cadillac Fault, is one of the largest consolidated land packages in the Val-d’Or mining camp. Cartier’s flagship asset integrates the historic Chimo Mine and East Cadillac projects, creating a dominant position in a world class gold mining district. With excellent road access, year-round infrastructure and nearby milling capacity, the project is ideally positioned for rapid advancement and value creation.

    The Cadillac property contains total gold resource of 767,800 ounces in the measured and indicated category (10.0 Mt at 2.4 g/t Au) and 2,416,900 ounces in the inferred category (35.2 Mt at 2.1 g/t Au) across all the sectors. Please see the ″ NI 43-101 Technical Report and Mineral Resource Estimate on the Cadillac Project, Val-d’Or, Abitibi, Quebec, Canada. Pierre-Luc Richard, P.Geo. of PLR Resources Inc., Stephen Coates, P.Eng. of Evomine Consulting Inc. and Florent Baril, P.Eng. of Bumigeme Inc. ″, effective January 27, 2026.

    About Cartier Resources Inc.

    Cartier Resources Inc., founded in 2006 and headquartered in Val-d’Or (Quebec) is a gold exploration company focused on building shareholder value through discovery and development in one of Canada’s most prolific mining camps. The Company combines strong technical expertise and a track record of successful exploration to advance its flagship Cadillac Project. Cartier’s strategy is clear: unlock the full potential of one of the largest undeveloped gold landholdings in Quebec.

    For further information, contact:

    Philippe Cloutier, P. Geo.
    President and CEO
    Telephone: 819-856-0512
    philippe.cloutier@ressourcescartier.com
    www.ressourcescartier.com

    Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    Photos accompanying this announcement are available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/4a6070a5-433e-49db-b60d-22387d3a3983
    https://www.globenewswire.com/NewsRoom/AttachmentNg/ac66c90e-4b27-42fa-ad98-5e596b72c8fe
    https://www.globenewswire.com/NewsRoom/AttachmentNg/7db6da4e-0bcb-4ce2-8f3a-c58d2e5cf92c
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    TORONTO, ON / ACCESS Newswire / March 11, 2026 / AmeriTrust Financial Technologies Inc. (TSXV:AMT,OTC:AMTFF)(OTCQB:AMTFF)(Frankfurt:1ZVA) (‘AmeriTrust‘, ‘AMT‘ or the ‘Company‘), a fintech platform targeting automotive finance is pleased to provide an update of corporate activities since the closing of the recent financing.

    Corporate Matters

    Jeff Morgan AmeriTrust CEO, commented: ‘Over the past year, our team has been focused on building the corporate foundation necessary to scale AmeriTrust across the United States. We have made meaningful progress across funding, technology, dealer onboarding, and operational infrastructure and we are now accepting applications and originating and funding vehicle leases.

    Today, AmeriTrust now operates through three wholly owned U.S. subsidiaries, each designed to address a unique component of our automotive finance ecosystem. With our corporate structure now established and new websites launched for all three entities, we are positioned to begin scaling our platform nationally.’

    1. AmeriTrust Financial (www.ameritrustfinancial.com) is an indirect finance company that offer’s new and used lease financing through franchised and independent dealer partners nationwide in the U.S.

    The Company recently executed a new funding agreement for a revolving line of credit with the Bank of Texas. This first facility provides AmeriTrust Financial with competitively priced cost of funds that can be ‘recycled’ as the Company’s portfolio grows. The funding facility represents an important milestone and establishes the financial infrastructure necessary to support scalable originations.

    AmeriTrust Financial has implemented a three-phase approach to expanding its dealer network. The first phase is to sign up and onboard dealers. The second phase is to educate the dealers and their employees through free onsite and online training about the platform and the financing programs that AmeriTrust offers. The third phase involves having quality applications submitted through the RouteOne and DealerTrack financing portals, or through AmeriTrust’s proprietary portal, and complete lease or loan customer contracts.

    AmeriTrust Financial has recently bolstered its sales team and has established national territories to expand its dealer network. In the past couple of months, the Company has executed 21 new dealer agreements representing 62 dealer locations across 16 states. While this expansion positions the Company for future growth, lease origination ramp-up will take time as dealers are educated and become familiar with AmeriTrust’s lease and loan financing programs.

    2. AmeriTrust Auto (www.ameritrustauto.com) operates as a licensed dealer that remarkets lease-return vehicles for funding partners with the objective of maximizing asset recovery and minimizing cumulative net loss.

    During February 2026, the Company started limited production of the remarketing business model. AmeriTrust Auto is now expanding its operational team and has recently hired six additional employees who are currently operating from a temporary facility in Fort Worth, Texas while the Company prepares for future expansion.

    3. AmeriTrust Serves (www.ameritrustserves.com) represents the Company’s servicing infrastructure and technology platform. AmeriTrust Serves has implemented a first-of-its-kind lease servicing platform in partnership with Conduent, one of the nation’s largest application service providers for consumer loan servicing systems. The platform enables scalable loan and lease servicing, enhanced automation, and data-driven portfolio management while supporting regulatory compliance and operational flexibility across multiple states.

    Further Updates

    Recently, Jeff Morgan was interviewed by Auto Finance News and Automotive News. The Auto Finance News article, titled ‘Inside AmeriTrust Financial’s Used Vehicle Leasing Rollout’ reported on AmeriTrust’s launch of a technology platform that allows dealers to present side-by-side loan and lease options for used vehicles, enabling consumers to compare payment structures while the company expands its leasing program across multiple states. The Automotive News article, titled ‘Former Tesla partner AmeriTrust tackles difficult, rare business of used-vehicle leasing’ examined AmeriTrust’s effort to expand used-vehicle leasing, a segment that represents a very small share of the market, highlighting the company’s strategy and the potential role leasing could play in improving vehicle affordability.

    Last week Jeff Morgan was invited to be a speaker at the National Vehicle Leasing Association (‘NVLA’) Annual Conference in Nashville, Tennessee. The panel that Jeff participated in brought together high-performing lessors who excel at expanding their in-house portfolios while strategically placing some select transactions that fall outside their credit window or operational capacity.

    Jeff Morgan commented, ‘As we move further into 2026, our focus remains clear: expanding both our indirect and direct dealer network, increasing application flow, and steadily growing funded originations while maintaining disciplined credit standards. The infrastructure we have built, from funding facilities and servicing technology to dealer partnerships, provides the foundation for that growth. While we remain in the early stages of executing our strategy, the results we are seeing across the platform are encouraging.’

    AmeriTrust also announces that contrary to the Company’s press release dated January 15, 2026, Dig Media Inc. does provide services defined by TSXV policy 3.4 as investor relations. In addition, since the beginning of January 2026 the Company has issued 4,125,000 Restricted Share Units to employees and consultants.

    About AmeriTrust Financial Technologies Inc.

    AmeriTrust Financial Technologies Inc., listed on the TSXV, OTCQB, and Frankfurt markets, is a finance solution and fintech provider disrupting the automotive industry. AmeriTrust’s integrated, cloud-based transaction platform facilitates transactions amongst consumers, dealers, and funders. AmeriTrust’s platform is being made available across the United States.

    For further information, please visit the AmeriTrust website or contact:

    Shibu Abraham
    Chief Financial Officer and Director
    E: info@ameritrust.com
    P: 1-800-600-6872

    FORWARD-LOOKING STATEMENTS

    This news release contains forward-looking statements relating to the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as ‘will’, ‘may’, ‘should’, ‘anticipate’, ‘expects’, ‘believes’ and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the description of the corporate capabilities and prospects of the Company’s operating subsidiaries, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

    The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, we cannot guarantee that any forward-looking statement will materialize, and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

    Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as at the date of this news release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.

    Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

    SOURCE: AmeriTrust Financial Technologies Inc.

    View the original press release on ACCESS Newswire

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    Silver Hammer Mining Corp. (CSE: HAMR,OTC:HAMRF) (the ‘Company’ or ‘Silver Hammer’) is pleased to announce that the Company is finalizing plans for its Phase 1 drill program on its 100% owned California Patented Claim (the ‘California Patent’), within the Eliza Silver Project (‘Eliza’) in White Pine County, Nevada.

    ‘We are looking forward to Phase 1 of drill-testing priority targets at the 100% owned California Patent, ahead of a Phase 2 drill program on the greater area of the Eliza Claims, which is now awaiting final approval after submitting all required documents in its permitting application with the US Forest Service. The California Claim, being patented land, allows us to perform Phase 1, without requiring exploration or drilling permits,’ commented Peter A. Ball, CEO of Silver Hammer Mining. ‘We are currently in the process of sourcing a drilling contractor to execute our exploration program, and we look forward to mobilize to site as soon as possible.’

    New priority drill targets on the California Patent have been identified from historical geological data from past exploration programs including surface mapping and sampling, an extensive soil sampling program, heliborne geophysics (magnetics and radiometrics), and from historical records of old mine workings. Up to five structures appear to be mineralized with silver and/or gold, and these form the five distinct drill targets (refer to Fig. 1).

    Fig. 1 – California Patent Drill Targets Map with a Compilation of Geological Structures, Rock and Soil Samples

    To view an enhanced version of this graphic, please visit:
    https://images.newsfilecorp.com/files/9597/288112_ffcef8640486490b_001full.jpg

    Up to a fifteen (15) hole drill program, consisting of approximately 1,500 metres (5,000 feet), has been designed to test following targets:

    1. Drill Target #1: The California Vein dips steeply, at approximately 80O to the northeast and is proximal to the Eberhardt Fault at surface. Mineralization has been found in a set of rock samples taken in 2021 and 2022 on or in the vicinity of the California Vein and the Eberhardt Fault, with four of the eight samples showing significant silver and/or gold grades (see Table 1 – please refer to the Company’s news releases dated December 6, 2021 and May 11, 2022 for more information). Airborne magnetics (vertical gradient) and radiometrics (total count) both show low anomalies as distinctly linear features at the Eberhardt Fault/California Vein zone. Two drill pads would allow for drilling the California Vein from the south, over a distance exceeding 150 metres along strike with a set of six fanned holes.

    Table 1 – Rock Samples at California Patent (Mapping and Sampling Programs, 2021-2022)

    Sample
    No.
    Au
    (g/t)
    Ag
    (g/t)
    As
    (ppm)
    Cd
    (ppm)
    Cu
    (ppm)
    Mn
    (ppm)
    Mo
    (ppm)
    Pb
    (ppm)
    Sb
    (ppm)
    Zn
    (ppm)
    PN662702 0.01 0.524 14.6 1 2 541 2 9.05 5 10.8
    PN662703 0.06 1290 33.8 14 56.8 2750 5.6 619 268 71.1
    PN662704 2.00 96.1 19 12 32 1620 2.42 179 33.2 128
    PN662705 0.28 26.3 10.5 1 13.6 316 2.12 39.2 11.5 21.3
    PN662706 0.01 2.44 25.3 1 7.05 4610 5.15 9.1 7.88 31.6
    PN662707 0.01 14.1 19.4 1 7.08 2020 2 9.9 10.1 22
    PN662708 0.01 0.275 8.28 1 3.58 96.8 2 18.5 5 7.68
    PN614022 0.24 150 32.2 14.8 84.5 1340 2.35 324 51.3 172

     

    1. Drill Target #2: The California Vein has been interpreted to have been cut by the Eberhardt Fault just above the current topographic surface and down-dropped and displaced southwards in the South Block of the Eberhardt Fault (refer to Fig. 2). Silver mineralization in the geochemical soil anomaly and rock sampling suggests this repetition of the California Vein daylights approximately 70 metres to the south of the surface trace of the Eberhardt Fault (and the outcropping of the California Vein in the North Block of the fault). Six fanned holes, drilled southwards from the two drill pads, are designed to test this fault-displaced portion of the California Vein.
    2. Drill Target #3: The Eberhard Fault is expected to be intersected by the set of six northwards-trending drill holes. This drill-testing is expected to provide additional information of which structure is the source of the mineralized rock and soil samples that are in proximity of both the California Vein and the Eberhardt Fault.
    3. Drill Target #4: Pilot Shale has been mapped at surface in the South Block of the normal-type Eberhardt Fault. Geological interpretation of the stratigraphy leads to an expectation of the Pilot Shale and the stratigraphically lower Nevada Limestone contact to be located approximately 60 metres below the topographic surface in the South Block of the Eberhardt Fault. This brecciated lithologic contact has been recognized as a potential trap for hydrothermal fluids during the mineralization stage. Such association of manto-style mineralization and basal brecciation at nearby Treasure Hill is described by R.M. Smith1: ‘The chloride ore bodies were localized in the uppermost strata of the gently west-dipping Guilmette (Nevada) Limestone just below the Pilot Shale, most of which is eroded from all but the Telegraph Peak portion of Treasure Hill. The limestone is brecciated by premineralization bedding faults, the most prominent of which is along its contact with the shale’. During past mining in the late 1800s, several exploratory drifts were driven in the California Mine, with a goal to reach this Pilot Shale – Nevada Limestone contact. The two vertical holes from the two drill pads are designed to explore for such potential manto-type mineralization at the lithologic contact (refer to Fig. 2).

    1 R.K. Hose, M.C. Blake and R.M. Smith, Bulletin 85, Geology and Mineral resources of White Pine County, Nevada, Nevada Bureau of Mines and Geology Part II, Mineral Resources, 1976.

    Fig. 2 – California Mine Section A-A’, with Drill Targets and Historic Underground Workings

    To view an enhanced version of this graphic, please visit:
    https://images.newsfilecorp.com/files/9597/288112_ffcef8640486490b_002full.jpg

    1. Drill Target #5: The broad zone of anomalous silver values follows the trend of the high rock samples as well as the trend of magnetic and radiometric anomalies. This zone measures up to 200 metres wide north-south and over 400 metres east-west. All holes are within this soil geochemical anomaly.

    Mr. Ball added, ‘The intersection of high angle structures in several orientations and the potential of the low-angle shale-limestone contact at the location of a historic mine, combined with several high-grade rock samples, forms a number of exciting and compelling drill targets.’

    Qualified Person

    The scientific and technical aspects of this press release have been reviewed and approved under the supervision of Damir Cukor, P.Geo. Mr. Cukor is a Qualified Person (QP) under National Instrument 43-101 Standards of Disclosure for Mineral Projects and as a consultant for the Company as Technical Director – Projects.

    About Silver Hammer Mining Corp.

    Silver Hammer Mining Corp. is a well-funded junior resource company focused on advancing past- producing high-grade silver projects in the United States. Silver Hammer controls 100% of six previously producing silver mines which are located within the Silver Strand Project in the Coeur d’Alene Mining District in Idaho, USA, and within the Eliza Silver Project and the Silverton Silver Mine in Nevada. The Company also controls the Fahey Group Silver Project in the Silver Valley, Idaho. Silver Hammer’s primary focus is to explore, define and develop silver projects near past-producing mines that have not been adequately tested. The Company’s portfolio also provides exposure to copper and gold.

    On Behalf of the Board of Silver Hammer Mining Corp.

    Peter A. Ball
    President & CEO, Director
    E: peter@silverhammermining.com

    For investor relations inquiries, contact:

    Peter A. Ball
    President & CEO
    778.344.4653
    E: investors@silverhammermining.com

    Forward-Looking Information

    This press release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation. Forward-looking information in this press release includes, without limitation, statements relating to the Offering, the intended use of proceeds from the Offering, and other statements which are subject to a number of conditions, as described elsewhere in this news release. These statements are based upon assumptions that are subject to significant risks and uncertainties, including risks regarding the mining industry, commodity prices, market conditions, general economic factors, management’s ability to manage and to operate the business, and explore and develop the projects of the Company, and the equity markets generally. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance of the Company may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, they can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assume no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise. This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

    The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release.

    To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288112

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    CSE: NINE,OTC:VMSXF) (OTC Pink: VMSXF) (FSE: KQ9) (the ‘Company’ or ‘Nine Mile’) announces that it has proceeded with its third anniversary payment under its option to Purchase 100% of the Wedge Project, dated February 9, 2023, (the ‘Option Agreement’) with Slam Exploration Ltd. (‘Slam’).

    The company has approved and paid the required Cash Payment of $40,000 and authorized and issued the allotment of 300,000 common shares as part of the Option Agreement. The Option Agreement has one remaining payment anniversary on February 2027 requiring a Cash Payment of $50,000 and issuing 400,000 common shares and then Nine Mile will have completed the 100% Purchase of the Wedge Project from Slam. The common shares are subject to a hold period under applicable Canadian Securities laws expiring four months and one day from the issuance of the shares.

    The Wedge VMS Project consists of 35.83 km2 and hosts the Wedge Mine, West Wedge, Tribag Targets within the 8km Wedge VMS Exploration Trend. (See Figure #1 Below)

    Figure 1: Priority Targets with Late Time Conductive Axis’ along the Wedge VMS Trend

    To view an enhanced version of this graphic, please visit:
    https://images.newsfilecorp.com/files/7335/288134_55583d46a46edbf8_002full.jpg

    Nine Mile just completed its Fall 2025 Wedge Mine Phase 2 Drill Program and is releasing Certified Drill Results as received. The goal at the Wedge Mine is to demonstrate and prove the Mine has an economic future and the deposit is much larger and higher grade than previously determined. Nine Mile is well on the way to that goal.

    Gary Lohman, P.Geo, VP Exploration & Director, stated, ‘This completes a crucial stage in the completing of the Purchase Agreement with Slam Exploration. Our advancement of the entire project including the Wedge Mine, West Wedge & Tribag High Priority VMS Targets is an example of our technical and financial commitment to this Priority Project for Nine Mile Metals and our shareholders. Assay results reported to date further demonstrate the hidden quality of the Wedge and we look forward to expanding on our recent success at the Wedge and the inaugural Drill Program along trend at the West Wedge and Tribag.’

    Figure 2: Upcoming 2026 Drill Program Targets at West Wedge and Tribag Zones

    To view an enhanced version of this graphic, please visit:
    https://images.newsfilecorp.com/files/7335/288134_55583d46a46edbf8_003full.jpg

    Patrick J Cruickshank, MBA, CEO & Director, stated, ‘The Wedge Mine and clustering targets on Trend, have quickly become, and rightly so, a priority project for us at Nine Mile. The continued success in our Wedge Mine Drill Programs clearly displays the high-grade copper ore remaining in the deposit. In 2024, drilling extended the deposit to the east and our recent drilling shows the deposit has high grade copper mineralization at depth and to the southwest. We are defining the next phase of drilling at the Wedge and the west extension. Once we complete the BHEM surveys and Mike Defrusne, President at Apex Geoscience, leading our Technical Team, integrates these new holes into our live 3D model, we will announce our Phase 3 Drill Program at the Wedge Mine, unlocking the value and test the overall size and scale of this high-grade deposit. We are excited to also launch our 2026 Drill Program at the West Wedge & Tribag sites and test those prospective VMS zones. 2026 will be a very busy exploration year.’

    Nine Mile Metals also announces that it has entered into an agreement (the ‘Agreement’) with Generation IACP Inc. (‘Generation’) to provide market making and issuer services in accordance with Canadian Securities Exchange (CSE) policies. Under the terms of the Agreement, Generation will trade shares of the Company on the CSE and other trading venues with the objective of maintaining a reasonable market and improving the liquidity of Nine Mile’s common shares. Generation IACP will also provide analytical data services on the stock trading patterns, CDS activity mapping security transfers and all aspects of issuer trading reporting, including shorts monitoring, institutional, retail, anonymous trades and market sentiment analysis.

    The Agreement is for an initial term of six months and shall be automatically renewed for successive six-month periods unless terminated by either party with 30 days prior written notice. Pursuant to the Agreement, Generation will receive a monthly fee of $8,500 Cdn, plus applicable taxes during the initial term. Thereafter, the monthly fee will automatically increase annually by 3% on each anniversary of the Agreement. No stock options or other compensation are being granted in connection with the engagement.

    Generation is arm’s length to the Company and does not own any securities of Nine Mile as of the date of this release; however, Generation and its clients may acquire an interest in the securities of the Company in the future.

    Generation’s market making and issuer service activities will be primarily intended to correct temporary imbalances in the supply and demand of the Company’s shares. Generation will be responsible for the costs it incurs in buying and selling the Company’s shares, and no third party will be providing funds or securities for the market making activities.

    ‘We have seen extremely strong trading volume and interest in Nine Mile Metal’s story from strategic, institutional, and retail investors. We traded over 90M shares through December and January 2026 and continue to have strong daily trading. We would like to monitor the trading behaviors, patterns and understand our trading base across all platforms. The relationship with Generation IACP complements our capital markets strategy and supports our focus on accessibility, transparency, and long-term shareholder alignment,’ commented Jonathan Holmes, Director.

    About Generation IACP Inc.

    Generation IACP is based in Toronto, Ontario, and is an independently held and registered broker and member of the Investment Industry Regulatory Organization of Canada, the TSX-V, the Canadian Securities Exchange, and the NEO Exchange.

    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., P.Geo., 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 renowned Bathurst Mining Camp (BMC), located in New Brunswick, Canada. The Company’s primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS Project, California Lake VMS Project, the Canoe Landing Lake (East – West) VMS Project, and the Wedge VMS Project. The Company is focused on Critical Minerals Exploration, positioning itself for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge on Gold.

    ON BEHALF OF Nine Mile Metals LTD.

    ‘Patrick J. Cruickshank, MBA’
    CEO and Director
    T: 506-804-6117
    E: patrick@ninemilemetals.com

    Forward-Looking Information:

    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) we will announce complete Certified assay results once received from ALS and Glencore. 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 St E., Toronto, Ontario Canada M5C 1P1

    To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288134

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    Copper is the third most-used metal in the world, and experts believe demand for this important commodity is set to rise in the coming years. At the same time, the supply situation is expected to tighten up.

    For that reason, market watchers may be asking, “When will copper go up?” Copper prices began to move sharply in 2025 amid tariff speculation and supply disruptions.

    In July 2025, copper prices on the COMEX surged to US$5.96 per pound, as US-based traders worked to get supply into the country ahead of the implementation of tariffs. However, the price plummeted back toward US$4 per pound after it was revealed that tariffs would not be applied to refined copper products.

    As the third quarter ended, a near-total shutdown at Freeport-McMoRan (NYSE:FCX) Grasberg mine in Indonesia further tightened copper supply that was already stressed due to a similar incident earlier in the year at Ivanhoe’s Kamoa-Kakula mine in the Democratic Republic of the Congo.

    The price rose through the last quarter of 2025 and into 2026 when the price had climbed to new record highs of US$6.61 per pound on COMEX and US$13,842.50 on the London Metal Exchange on January 29.

    “Grasberg remains a significant disruption that will persist through 2026, and the situation is similar to constraints at Ivanhoe Mines’ Kamoa-Kakula, which experienced output cuts this year,’ Jacob White of Sprott Asset Management said via email, adding, ‘We believe these outages will keep the market in deficit in 2026.’

    Copper prices moving to record highs is a result of the latest shift toward structural deficits in the supply and demand for the red metal. In 2021, market imbalances pushed prices to a then all-time high of US$10,724.50 per metric ton, which was later broken in March 2022 when it hit US$10,730.

    Copper price chart, Q1 2003 to Q4 2025.

    Chart from International Monetary Fund via FRED.

    Copper had pulled back to about US$8,000 by mid-August 2022 on growing fears of a global recession. In early 2023, prices mounted a campaign to breach the US$9,300 level, once again giving market watchers a reason to believe highs for the metal would soon to be retested.

    However, that reason soon faded as rising interest rates dampened the outlook for copper-dependent industries globally. China’s ongoing real estate crisis also hit copper demand hard in 2023. With the demand picture unclear, copper couldn’t hold above the US$9,000 level, and slid to US$7,910 as of early October 2023.

    However, copper managed to close the year around the US$8,500 mark and hold around those levels in Q1. The closure of First Quantum Minerals’ (TSX:FM,OTCPL:FQVLF) Cobre Panama copper mine in late 2023 and Anglo American’s (LSE:AAL,OTCQX:NGLOY) revised 2024 copper production target were significant factors behind copper’s price momentum, as were production curbs out of top Chinese copper smelters are also helping to support prices.

    The copper price began climbing in earnest in Q2 on building anticipation that the Federal Reserve may soon launch its rate cut cycle alongside a worsening supply side picture. On May 20, 2024, the price of copper reached its then highest recorded price of US$5.20 per pound, or US$11,464 per metric ton.

    However, the price of the base metal moved back under US$10,000 by the end of the month, and remained largely rangebound through the rest of the year.

    In 2025, copper tariff fears and supply disruptions pushed the price of copper upwards, and it reached record highs of US$13,842.50 on the LME in late January 2026.

    Copper prices pulled back to below US$13,000 in the days that followed, and as low as US$12,560 by mid-month.

    However, demand sectors for the red metal may face fresh uncertainty in 2026 after the Supreme Court of the United States found Trump’s “Liberation Day” tariffs unconstitutional.

    Although the ruling won’t affect copper tariffs directly, it may cause some economic chaos as countries that worked out deals reconsider their agreements. Following the ruling, Trump imposed new 10 percent tariffs on February 20, then raised them to 15 percent the next day. The new levies will only be in effect for 150 days, after which they will need to be ratified by Congress.

    The copper price climbed above US$13,200 during trading in the days that followed.

    Despite short-term uncertainty, is long-term optimism for copper still warranted? Let’s look at the current supply and demand factors that could push copper prices higher.

    Green energy in driver’s seat for copper demand

    Copper’s many useful properties have translated into demand from diverse industries in both traditional and emerging sectors.

    In its January 2026 “Copper in the Age of AI” study, S&P Global Energy and Market Intelligence outlined key areas for copper demand and growth. Central to everything is the role copper plays in electrification due to a conductivity rating that’s second only to silver.

    Traditional demand sectors such as construction, electronic appliances and internal combustion engine vehicles have long been the main drivers for core copper demand. According to the report, 18 million metric tons of copper were required to meet this core economic demand in 2025, and the analysts forecast that number to rise to 23 million by 2040.

    Growth in core demand is expected to be driven by a combination of urbanization and rising incomes in the developing world. Every new power source, every new home and every new air conditioner is connected to the grid in some way.

    Overall, China is the world’s largest copper consumer, due in large part to its construction and real estate sectors. However, growth there has slowed in recent years as its property sector has stalled following the collapse of several large developers. The government has responded with a series of measures to try to stimulate the sector, but has yet to right the ship.

    At the end of 2025, China released its 14th Five-Year Plan, which the country will implement from 2026 to 2031. The plan has measures aimed at the real estate sector including affordable housing, the rental market and urban renewal. While it remains to be seen if these will be successful, any turnaround in China’s real estate sector could have a considerable impact on copper demand.

    Although aluminum is being substituted in some use cases due to high copper prices, there are technical hurdles such as the need for systems to be redesigned and aluminum’s lower conductivity.

    In addition to traditional growth, demand is being driven by the energy transition, including energy additions in developing nations, clean energy technologies and electric vehicles.

    As a base case, S&P expects global electricity demand to increase 50 percent by 2040, with the United States’ demand growing by 2.5 percent annually, China’s by 3.2 percent and India’s by 4.2 percent.

    This demand growth will require the energy equivalent of building 330 new hydroelectric dams the size of Nevada’s Hoover Dam or 650 1 gigawatt nuclear reactors each year between now and then.

    In 2025, solar and wind combined for more than 90 percent of new electrical capacity installed worldwide. These methods require substantial quantities of copper to build out, as do the batteries used to store the energy needed to ensure 24 hour delivery.

    Additionally, expanding access to commercial energy in developing nations will also require significant copper for infrastructure, energy transmission and more. S&P notes that Africa is home to nearly 20 percent of the world’s population, but its electricity needs are underserved. Copper will play an essential role in moving electricity across the continent.

    Downstream from generation, there is an increasing demand for EVs, which have significantly higher copper loadings than their gas-powered counterparts. In 2025, global EV sales grew by 20 percent to 20.7 million, and although the pace is likely to slow, overall demand is expected to continue to grow in the coming years.

    The AI sector is another emerging demand sector for copper, as it requires vast amounts of the red metal to deliver the energy to power data centers and manufacture the hardware that its operations run on.

    The S&P noted that half of the US gross domestic product (GDP) growth in 2025 was owed to AI. This includes processors, data centers, and electrical capacity. The study also stated that AI power requirements alone will rise from 5 percent of total US electrical demand in 2025 to 14 percent by 2030, before demand from industrial, commercial, creative and personal applications are accounted for.

    Factoring in demand from these industries and the defense sector raises 2025’s copper requirements from 18 million to 28 million metric tons, according to S&P. As these sectors grow, total copper demand is expected to hit 42 million metric tons by 2040.

    Companies struggling to keep copper supply coming

    Of course, demand is just one side of the story for copper prices. For more than a decade, the world’s largest copper mines have struggled with steadily declining copper grades and a lack of new copper discoveries.

    However, the challenge is that without new mining operations, total mined copper supply is set to rise from 23 million metric tons today to a peak of 27 million in 2030, but decline to 22 million metric tons in 2040.

    Although recycled copper is expected to add an additional 10 million metric tons of supply in 2040, this still leaves a supply deficit of 10 million metric tons.

    Declining grades at existing mines are just part of the problem facing the supply side of the equation. Since the end of the last commodity super cycle in 2011, exploration budgets have cratered from US$6.6 billion in 2012 to US$3.3 billion in 2025, and nearly half of that is spent on existing mine sites.

    According to S&P, the number of new discoveries and quantity of resources has also fallen. Between 1985 and 2000, 636 million metric tons of copper resources were discovered; this fell to 389 million metric tons between 2000 and 2010, and further to 120 million metric tons between 2010 and 2020.

    The general consensus is that the easy-to-access deposits have been found, leaving harder to access ore bodies that require longer permitting times and higher capital costs.

    Speaking about copper at the Vancouver Resources Investment Conference (VRIC) in January 2026, Founder of Rule Investment Media, Rick Rule, said, “There’s still more to be found, but it’s 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 to spend money.”

    Rule went on to explain that there are challenges beyond just the money, noting jurisdictional and permitting issues. He cited the example of Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) and BHP’s (ASX:BHP,NYSE:BHP,LSE:BHP) Resolution Copper in Arizona, which has been stuck in permitting for 28 years.

    Delays and lack of exploration are critical factors hindering copper supply growth. On top of this, over the last several years there have also been unforeseen events that have taken supply off the market.

    These have included sociopolitical unrest and protests directed at the mining sector in Peru in 2022, the closure of First Quantum’s Cobre Panama in 2023, and, most recently, accidents at two of the world’s largest copper mines in 2025, Ivanhoe Mines’ (TSX:IVN,OTCQX:IVPAF) Kamoa-Kakula in the Democratic Republic of the Congo and Freeport McMoRan’s Grasberg in Indonesia.

    Even though these types of events can’t be predicted, any supply disruptions will have an outsized impact as the supply gap widens.

    “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,’ Independent Speculator CEO Lobo Tiggre said at VRIC.

    Bull market for copper or bust?

    So, when will copper go up? Together, strong demand and tight supply have already created the right market environment for higher prices, though market watchers like Rule and Tiggre still see more upside potential.

    Copper’s strong rally in recent years has encouraged the idea that even higher copper prices are ahead, which could be a golden opportunity for junior copper companies in the long-term.

    With deficits expected to increase over the coming years, analysts are setting new target prices for LME copper. The Bank of America (NYSE:BAC) raised its expectations to an average US$11,313 per metric ton in 2026, and US$13,501 in 2027. Meanwhile, Citigroup (NYSE:C) is even more bullish, predicting copper prices could climb as high as US$15,000 per metric ton as early as the second quarter of 2026.

    A widening supply gap should provide significant tailwinds in the coming years, potentially sending prices even higher.

    “Copper has done fairly well, but for most of the year, copper seemed really strangely muted in terms of price increase, and make no mistake, a supply shortfall is absolutely inevitable in copper,” Rule said.

    Price increases should also stimulate capital inflows into the industry, which Rule noted would need US$250 billion over the next 10 years to maintain the current level of production. To grow beyond that would require a much larger investment.

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

    This post appeared first on investingnews.com

    Josef Schachter, president and author at the Schachter Energy Report, shares his outlook for oil prices and stocks as the Iran war continues.

    ‘The key thing is how long does it last and what is the reason that they want the war,’ he said.

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

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