Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$105,555, a decrease of 1.6 percent in 24 hours after an earlier slide of over 4 percent. The day’s range for the cryptocurrency brought a low of US$104,309 and a high of US$105,918.

Bitcoin price performance, June 13, 2025.

Chart via TradingView.

Bitcoin dropped sharply after Israel’s airstrikes on Iran, with over US$400 million in long trades wiped out before its price consolidated at around US$105,000. This came just days after Bitcoin came close to its May 22 record of US$111,940.

Gold and oil prices rose while Bitcoin fell, and a Bollinger band analysis shows a typical three-push pattern, often signaling the end of a rally. Popular trader CrypNuevo said there could be “more upside” to come as long as the price doesn’t dip below the US$100,000 level.

Ethereum (ETH) ended the day at US$2,529.19, a 6.3 percent decrease over the past 24 hours, after reaching an intraday low of US$2,513.97 and a high of US$2,576.80.

Altcoin price update

• Solana (SOL) closed at US$145.08, down 6.3 percent over 24 hours. SOL experienced a low of US$144.19 and reached a high of US$148.20 on Friday.

• XRP was trading at US$2.13, down by 3.6 percent in 24 hours. The cryptocurrency’s lowest valuation today was US$2.12, and its highest was US$2.16.

• Sui (SUI) was trading at US$3.01, showing a decreaseof 7.5 percent over the past 24 hours. It reached an intraday low of US$2.98 and a high of US$3.07.

• Cardano (ADA) closed at US$0.6319, down 5.5 percent over the past 24 hours. Its lowest valuation on Friday was US$0.6291, and its highest valuation was US$0.6426.

Today’s crypto news to know

Tether expands gold exposure

Tether Investments has acquired a 31.9 percent stake in Canadian gold royalty firm Elemental Altus Royalties through the purchase of 78,421,780 common shares from La Mancha Investments. Valued at C$1.55 (US$1.14) per share, the transaction cost Tether roughly US$89.4 million and brings its total stake in the royalty firm to 33.7 percent.

While the official announcement didn’t come until Thursday, the deal was finalized on Tuesday, June 10. The company also shared that it signed an option agreement that will allow it to acquire a further 34,444,580 common shares owned by AlphaStream subsidiary Alpha 1 SPV. Executing the option would bring Tether’s interest in Elemental Altus to 47.7 percent.

“Tether’s growing investments in gold and Bitcoin reflect our forward-looking strategy to build a more resilient and transparent financial system,” Paolo Ardoino, CEO of Tether, said. “By gaining exposure to a diversified portfolio of gold royalties through Elemental, we are strengthening the backing of our ecosystem while advancing Tether Gold and future commodity-backed digital assets.”

Retail giants explore stablecoin issuance

Walmart (NYSE:WMT) and Amazon (NASDAQ:AMZN) are reportedly in talks to launch their own stablecoins, according to sources cited in a Wall Street Journal report published early on Friday morning. The move would mark a shift in how these two major retailers manage payments, with the potential to eliminate billions in bank fees and streamline e-commerce and cross-border transactions.

This report comes days after the US Senate advanced the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, in a 68-30 procedural vote. On Thursday, a notice was issued by Senate Democrats of a full chamber vote on the GENIUS Act scheduled for Tuesday, June 17, coinciding with the start of the Federal Open Market Committee two-day meeting.

Betting platform becomes second-largest ETH holder after Ethereum Foundation

Sports betting platform SharpLink Gaming (NASDAQ:SBET) has become the world’s largest publicly traded ETH holder with its latest acquisition of 176,271 ETH for approximately US$463 million, an average acquisition price of US$2,626 per coin.

According to an announcement on the company’s page on Friday, the company has increased its ETH holdings by 11.8 percent per share since June 2, 2025, primarily using US$79 million raised through its stock sales, in addition to an earlier private investment.

The company said over 95 percent of its ETH was deployed in staking and liquid staking platforms, earning yield while contributing to Ethereum’s network security.

“This is a landmark moment for SharpLink and for public company adoption of digital assets,” said Rob Phythian, CEO of SharpLink Gaming. “Our decision to make ETH our primary treasury reserve asset reflects deep conviction in its role as programmable, yield-bearing digital capital.”

Coinbase announces several new offerings

Coinbase made a series of announcements on Thursday at its annual State of Crypto Summit, unveiling a plan to evolve from a crypto exchange into a full-scale decentralized and centralized financial app.

First, the company’s chief legal officer, Paul Grewal, revealed that all tokens on Coinbase’s Ethereum Layer 2 network, Base, are now tradable directly on the Coinbase platform, giving developers building on Base access to Coinbase’s ecosystem of over 100 million users. Meanwhile, Max Branzburg, Coinbase’s vice president of consumer and business products, announced that the company will soon offer perpetual futures contracts under Commodity Futures Trading Commission oversight, marking a major easing of restrictions for US crypto traders.

Also at the event, a partnership was announced between Coinbase and Shopify (NYSE:SHOP) that Shopify has begun accepting payments in USDC stablecoin from customers on Base. Currently in early access, the new payment option could help normalize on-chain payments among mainstream e-commerce businesses and consumers.

Coinbase also introduced the Coinbase One Card, a co-branded American Express (NYSE:AXP) credit card slated for release this fall that will offer up to 4 percent cashback in Bitcoin. Finally, it revealed Coinbase Business, a new full-stack platform offering for streamlining financial workflows with features including instant crypto payment settlements, up to 4.1 percent annual percentage yield on USDC and streamlined integration with accounting tools such as Intuit (NASDAQ:INTU) QuickBooks and XERO (NASDAQ:XRX).

These announcements help further Coinbase’s vision to position itself as a one-stop shop for businesses operating in the Web3 space.

Trump admin moves to roll back mining moratorium near Boundary Waters

The Trump administration is starting the process of reversing the Biden-era 20 year moratorium on copper-nickel mining in a 350-square-mile area upstream of Minnesota’s Boundary Waters Canoe Area Wilderness.

The decision could allow the restart of development at the proposed Twin Metals underground mine, owned by Chile’s Antofagasta (LSE:ANTO,OTC Pink:ANFGF). The Biden administration had cancelled the leases for the project, located in the region affected by the moratorium, as part of the 2022 decision.

Agriculture Secretary Brooke Rollins and Interior Secretary Doug Burgum argue that the original mineral withdrawal was unnecessary and pledged to boost domestic critical mineral supply.

Rollins shared the news on her social media account.

.@SecretaryBurgum and I have been working together to unleash American Energy and today we are taking another step to ensure we are getting back in the mining and energy development game.

Today, @USDA is proud to announce that we are initiating the process to cancel the mineral…

— Secretary Brooke Rollins (@SecRollins) June 11, 2025

The news was quickly denounced by the Save the Boundary Waters advocacy group and Tina Smith, US Senator for Minnesota.

“The announcement by Secretaries Burgum and Rollins is shocking,” said Ingrid Lyons, the group’s executive director. “They claim to have consulted with the people of Minnesota about the Boundary Waters when they clearly have not. We deserve so much better than this, as Minnesotans and as Americans.”

Senator Smith took to social media to highlight her dismay and condemn what she described as ‘pseudoscience (used) to justify bad actions.’

The Trump admin decision aligns with a broader push to accelerate mining approvals and reduce red tape, aiming to enhance US supply chain security for critical minerals.

Dundee Precious Metals to acquire Adriatic in US$1.3 billion deal

Canada’s Dundee Precious Metals has agreed to acquire UK-based Adriatic Metals (LSE:ADT1,OTCQX:ADMLF) in an approximately US$1.3 billion cash-and-stock transaction.

The deal secures Dundee full control of Adriatic’s high-grade Vareš underground silver-lead-zinc-gold mine in Bosnia and Herzegovina, plus its Raška zinc-silver project in Serbia.

Vareš offers an estimated 15 year mine life with annual payable output around 168,000 ounces gold equivalent and low all-in sustaining costs of US$893 per ounce.

“Vareš is a logical fit with our portfolio, as it significantly increases DPM’s mine life while adding near-term production growth, a highly prospective land package, and cash flow diversification,” said David Rae, president and CEO of Dundee Precious Metals.

Upon closing, Dundee shareholders will own 75.3 percent of the combined entity, with Adriatic shareholders holding 24.7 percent. The transaction is expected to close by year-end, pending shareholder, regulatory and Bosnian competition approvals.

China tightens grip on Myanmar’s rare earths

The United Wa State Army (UWSA), a China-supported militia, has taken control of newly established rare-earth mining operations in Myanmar’s Shan State, according to a Reuters report. Satellite imagery confirms the construction of leaching pools and chemical extraction facilities, with Chinese-speaking managers overseeing operations and trucks ferrying ore across the border.

As noted in the report, China currently relies heavily on Myanmar for heavy rare-earth elements like terbium and dysprosium, critical materials for high-tech industries including EVs, wind turbines and electronics. The country supplied nearly half of China’s imports during the first four months of 2025.

Rare earth exports to China have surged since Myanmar’s military junta took power in 2021. Between 2021 and 2024, Myanmar exported US$3.6 billion worth of rare earth metals to its neighbor, a dramatic increase compared to just US$400 million in the prior four year period.

The majority of these imports previously came from mineral belts in Kachin State, but this supply was disrupted in October 2024 when the Kachin Independence Army seized control of the region from the junta.

Analysts suggest this move to protect operations in Shan State helps Beijing reinforce its global dominance in rare earth supply chains by tapping into more stable regions under Chinese-aligned militia protection.

China has further tightened its grip on the global rare earth industry over the past year, reinforcing control across multiple fronts. Domestically, Beijing implemented new regulations in late 2024 to centralize mine quotas, smelting, separation and export licensing, reinforcing state dominance across the entire rare earth supply chain.

Investor Insight

With a strategic asset base in the prolific Abitibi Gold Belt near Val d’Or, and a fully permitted gold mill facility, LaFleur Minerals is well-positioned for near-term production and long-term growth.

Overview

LaFleur Minerals (CSE:LFLR,OTCQB:LFLRF) is a growth-focused gold exploration and development company with assets in Québec’s Abitibi Gold Belt, one of the most prolific gold regions globally. The company is focused on the production restart at Beacon Mill in parallel to advancing key exploration programs at its Swanson gold project, a well-located, resource-rich deposit with strong growth potential.

LaFleur Minerals boasts a favourable entry point with a market cap yet to reflect the company’s asset base, as well as solid fundamentals with strong growth catalysts and significant upside potential from a near-term producing gold mill with low restart cost.

Company Highlights

• Focused on developing high-potential gold projects in the Abitibi Gold Belt in Québec, a top-tier mining jurisdiction with strong government support and flow-through financing incentives, and Canada’s largest gold producing region.
• Successfully assembled over 150 square kilometers of mineral claims and a mining lease, anchored by the Swanson gold deposit and complemented by recent acquisitions from Abcourt Mines.
• The Swanson gold project hosts an NI 43-101-compliant mineral resource of 123 koz indicated and 64 koz inferred, with significant exploration upside.
• LaFleur owns the fully permitted and refurbished 750 tpd Beacon Gold Mill, which previously underwent ~$20 million in upgrades, providing a clear pathway to near-term gold production from Swanson and other potential regional sources.
• The company has launched an extensive exploration program, including geophysics, geochemistry and a planned 10,000-meter drill campaign for 2025, targeting a resource expansion to over 1 Moz.
• Led by CEO Paul Ténière, a highly experienced geologist and mining executive, supported by a team with extensive expertise in gold exploration, project development and corporate finance.

Key Projects

Swanson Gold Project – Flagship Asset

The Swanson gold project is located in Québec, Canada, rated as the fifth top jurisdiction in the world for mining investment (Fraser Institute’s 2023 annual survey), offering a stable and supportive environment for resource development with easy access to flow through capital. The Swanson gold project has had in excess of 36,000 metres of historical drilling, which underscores the advanced exploration and development potential of the project, which includes several favourable gold bearing regional structures and deformation corridors extending across the property.

Project Highlights:

• +16,600 hectares (166 sq km) and rich in gold and critical metals, hosts the Swanson, Bartec and Jolin gold deposits
• Previously held by Monarch Mining, Abcourt Mines and Globex
• Accessible by road/rail, 66 km north of Val-d’Or on the Southend Abitibi gold belt, close proximity to established producers such as Agnico Eagle and Eldorado, as well as developers like Probe Gold and O3 Mining, with direct access to several nearby gold mills
• Mineral resource estimate reinforces status as flagship project:
  • Indicated mineral resource estimate of 2,113,000 t with avg grade of 1.8 g/t gold, containing 123,400 oz of gold.
  • Inf. Mineral Resource Estimate of 872,000 t with avg grade of 2.3 g/t gold, containing 64,500 oz of gold
• The project’s current MRE was optimized with a price of gold at US$1,850/oz, current gold market price has hit above US$3,000/oz
• $3 million in flow-through to deploy with immediate plans to increase gold resources through diamond drilling at Swanson, Bartec, Jolin, and other gold deposits, and up to 10,000 metres of drilling expected to commence by mid-2025
• Other key developments include a decline portal and ramp extending to a depth of 80 metres; well positioned for advanced exploration with over $5 million invested by the previous owner between 2021 and 2023
• Since acquiring the Swanson deposit and consolidating the large claims package, the company has deployed in excess of $1 million in flow-through funds, completed detailed soil geochemistry and prospecting across several gold targets, completed a very-high resolution airborne magnetic and VLF-EM geophysical survey, and is currently in the process of completing a ground IP survey over the Swanson, Jolin, and Bartec gold deposits
• Several new promising gold targets have been identified from the recent surface exploration and geophysics programs, highlighting the potential for mineral resource growth and new discoveries at Swanson
• The company has submitted an application for a diamond drilling permit to the Québec government for the Swanson gold project and will be sending Requests for Quotes (RFQ) to local drilling contractors, with drilling expected to commence in the spring at the Swanson, Bartec, Jolin and other recently delineated gold targets

Beacon Gold Mill – Near-term Production

The Beacon Gold Mill is a strategically positioned, fully permitted 750 tpd processing facility located less than 50 km from Swanson. Originally acquired through the Monarch Mining CCAA process, the mill underwent a $20 million refurbishment in 2022 and remains in excellent condition. LaFleur’s strategic location on the mineral rich Abitibi Greenstone Belt is key to its plans to restart gold production as its positioned in a prime area with over 100 historical and operational mines, allowing for rapid monetization of ore from nearby gold deposits.

Project Highlights:

• Low restart cost with processing capacity of over 750 tonnes per day, targeting production of up to 30,000 oz of gold per year. At US$2900/oz, the projected potential revenue is ~$100 million
• Capable of custom milling operations for other nearby gold projects
• Currently being evaluated for processing mineralized material from Swanson as part of a high-level preliminary mining and economic study
• Past-producing Beacon Mine is located on the site of the Beacon Mill: the property consists of a mining lease, a mining concession, and 11 mining claims
• Beacon I and II mines include mineralized zones where limited historical gold production was achieved during the period of 1984 to 1988 and again in 2005
• The advancement of operations at the Beacon Mill has transformational qualities for the company, evolving it from explorer to a near term gold producer in a Tier 1 jurisdiction with significant upside potential
• The restart of production at the Beacon Mill to process bulk samples and/or for custom milling purposes is targeted for before 2025 year end, or once all required restart work has been completed and final approvals have been received by the Québec government, meanwhile equipment inspections, parts inventory, and maintenance work continues on a full-time basis at the company’s Beacon Gold Mill as part of its restart program including a final plan and budget to restart the mill to be completed by ABF Mines by late April once final inspections are complete

Management Team

Kal Malhi – Chairman

A successful entrepreneur and the founder of Bullrun Capital, Kal Malhi has raised over $300 million for various public and private companies across multiple industries, including mining, biotechnology and technology.

Paul Ténière – CEO

Paul Ténière has more than 20 years of experience in mine development, geology and project management. He has held senior leadership roles across multiple mining companies and is a recognized expert in NI 43-101 compliance and technical reporting.

Harry Nijjar – CFO and Corporate Secretary

Harry Nijjar is currently a managing director with Malaspina Consultants and provides CFO and strategic financial advisory services to his clients across many industries. This experience has allowed him to help his clients successfully navigate regulatory and financial environments within which they operate. Harry holds a CPA CMA designation from the Chartered Professional Accountants of British Columbia and a BComm from the University of British Columbia

Louis Martin – Technical Advisor and Exploration Manager

Louis Martin is a professional geoscientist. and has been a major contributor to the discovery of several gold and base metal deposits during his more than 40-year career. Martin has been fortunate to be part of the exploration teams that were awarded the Discovery of the Year by the AEMQ for the West Ansil Deposit (2005) and the Louvicourt Deposit (1989). He has worked on several advanced exploration projects that included bringing four of these projects into production. For the last eight years, Martin has worked as a technical advisor and geological consultant for numerous junior and major mining companies.

Preet Gill – Director

Preet Gill is a business professional offering leading development and implementation of superior business strategy. Gill has a proven track record of identifying and creating profitable business opportunities, qualifying authentic prospects, and cultivating strong partnerships. She has over 28 years of experience in leadership roles within Home Depot Canada and has an MBA from Royal Roads University and certificates in business leadership from Queen’s University.

Harveer Sidhu – Director

Harveer Sidhu is the founder of BuildSmartr.com and has served as a director, officer and audit committee member for publicly listed companies. Sidhu is experienced in manufacturing, import and exporting, information technology systems, e-commerce and construction project management. He is also the president and director of Beyond Medical Technologies. He holds a bachelor’s degree from Simon Fraser University and has been a licensed builder with BC Housing since 2014.

Michael Kelly – Director

Michael Kelly is a former member of the Canadian Armed Forces Military Police and a retired member of the Royal Canadian Mounted Police. Kelly currently serves as a Partner at BullRun Capital Inc. and is a respected businessman based in Kelowna, British Columbia. He is also a director and member of the audit committee of Beyond Medical Technologies, an industrial/technology company with a manufacturing facility located in Delta, British Columbia.

Jean Lafleur – Senior Advisor

A highly respected geologist with over 40 years of experience in the mining sector, Jean Lafleurhas led multiple exploration programs and mining projects, contributing to major gold discoveries worldwide.

Investor Insight

In the current strong market dynamic for uranium, Skyharbour Resources is a compelling investment opportunity driven by its large portfolio of exploration assets in Canada’s most prolific uranium district in the Athabasca Basin.

Overview

Nuclear energy is a key driver in the transition to net zero, offering clean, reliable, and secure power to meet global electricity demand, which is expected to grow by 50 percent in 2040.

Skyharbour Resources (TSXV:SYH,OTCQX :SYHBF,FWB:SC1P) is strategically positioned to support this growing demand through its high-grade uranium projects. As a leading uranium exploration company, Skyharbour partners with industry stakeholders to advance projects that contribute to the secure and sustainable energy future nuclear power promises.

Skyharbour has launched its winter drill program at the Russell Lake uranium project, initiating its planned 16,000–18,000 metre campaign across 35–45 holes at its co-flagship Russell Lake and Moore projects. This initial phase at Russell will focus on exploring the project’s significant upside potential, leveraging its widespread uranium mineralization and favorable geology for large, high-grade Athabasca Basin uranium deposits.

Company Highlights

• Skyharbour Resources is a junior mining company with an extensive portfolio of uranium exploration projects in Canada’s Athabasca Basin. They comprise 36 uranium projects, totaling over 614,000 hectares.
• The Athabasca Basin is the world’s most prolific uranium jurisdiction, boasting uranium grades averaging over 10-20 times higher than those found elsewhere.
• The company employs a multi-faceted strategy of focused mineral exploration at its core projects (Russell and Moore) while utilizing the prospect generator model to advance its secondary projects with strategic partners.
• The company’s co-flagship Moore project is an advanced-stage uranium exploration asset featuring high-grade uranium mineralization at the Maverick Zone. Previous drilling has returned results of 6 percent U3O8 over 5.9 meters, with a notable intercept of 20.8 percent U3O8 over 1.5 meters, at a vertical depth of 265 meters.
• Adjacent to the Moore project is Skyharbour’s second core project, the Russell Lake uranium project, wherein Skyharbour has completed the acquisition of 57.7 percent interest from Rio Tinto. The Russell Lake uranium project is a large, advanced-stage uranium exploration property totaling 73,314 hectares.
• The 2024 winter drill program at the Russell Lake uranium project led to a new discovery of high-grade, sandstone-hosted mineralization up to 2.99 percent U3O8 intersected over 0.5 meters.
• Skyharbour has commenced its 2025 winter drill program at the Russell Lake uranium project with plans to complete an initial 5,000-metre diamond drilling program in 10 to 12 holes at the project
• Fully-funded for combined drilling of 16-18,000m in 35-45 drill holes across Russell and Moore Lake Projects
• 15-16,000 metres of additional drilling funded by partner companies at other projects in the Skyharbour’s prospect generator business including 6-7,000m of drilling by strategic partner Orano at the Preston project
• Management intends to continue building the prospect generator business by offering projects to partners who will fund the exploration and provide cash/stock to Skyharbour for an ownership interest in the projects; Skyharbour typically retains minority interests in the projects and equity holdings in the partners.

Flagship Projects

The Moore Project

This project covers an area of 35,705 hectares, located in the eastern Athabasca Basin near existing infrastructure with known high-grade uranium mineralization and significant discovery potential. Skyharbour acquired the project from Denison Mines (TSX:DML), a large strategic shareholder of the company. The project can be easily accessed year-round via winter and ice roads, streamlining logistics and reducing expenses. During the summer months, a significant portion of the property remains accessible as well. The property has been the subject of extensive historic exploration with over $50 million in expenditures, and over 140,000 meters of diamond drilling completed historically.

Moore hosts high-grade uranium mineralization at the Maverick zones. Over the past few years, Skyharbour Resources has conducted diamond drilling programs, resulting in the intersection of high-grade uranium mineralization in numerous drill holes along the 4.7-kilometer-long Maverick structural corridor. Some of the high-grade intercepts include:

• Hole ML-199 which intersected 20.8 percent U3O8 over 1.5 meters at 264 meters,
• Hole ML-202 from the Maverick East Zone which intersected 9.12 percent U3O8 over 1.4 meters at 278 meters.
• Hole ML20-09 which intersected 0.72 percent U3O8 over 17.5 meters from 271.5 meters to 289.0 meters, including 1 percent U3O8 over 10.0 meters represents the longest continuous drill intercept of uranium mineralization discovered to date at the project.
• Drill hole ML-61 returned 4.03 percent eU3O8 over 10 meters;
• Drill hole ML -55 encountered high-grade mineralization, returning 5.14 percent U3O8 over 6.2 meters
• Drill hole ML -47 intersected 4.01 percent U3O8 over 4.7 meters

Merely 50 percent of the total 4.7-kilometer promising Maverick corridor has undergone systematic drilling, indicating significant discovery potential both along its length and within the underlying basement rocks at depth. Skyharbour completed a 2024 winter drill program which consisted of 2,800m of drilling at the project which focused on infill/expansion drilling at the Main Maverick Zone. Assay results from the program intersected 5 metres of 4.61 percent U3O8 from a relatively shallow downhole depth of 265.5 metres to 270.5 metres including 10.19 percent U3O8 over 1 metre at the Main Maverick Zone from hole ML24-08. The Company recently received the remaining assay results from its late 2024 diamond drilling program, which totaled 2,759 metres in nine holes. Of the nine holes, four holes (ML24-10 to -12 and ML24-18) focused on the Main Maverick Zone and five holes (ML24-13 to -17) on the Maverick East Zone. The primary objective of the summer program was to extend and expand the boundaries of the Main Maverick and Maverick East Zones with all but one hole successfully intersecting uranium mineralization. Drill hole ML24-15 which intersected 6.4 m of 1.50% U₃O₈ successfully expands the Maverick East zone over 40 metres along strike to the northeast with more drilling warranted in the area.

Skyharbour is planning for an additional, fully-funded 4,500 – 5,000 metres of drilling at the Main Maverick and Maverick East Zones to further expand, characterize and define the extents of the mineralized zones.

Apart from the Maverick Zone, diamond drilling in various other target areas has encountered multiple conductors linked with notable structural disturbances, robust alteration, and anomalous concentrations of uranium and associated pathfinder elements.

Russell Lake Uranium Project

The Russell Lake project is a large, advanced-stage uranium exploration property spanning 73,314 hectares, strategically positioned between Cameco’s Key Lake and McArthur River projects. Skyharbour has completed its earn-in requirements for an option agreement with Rio Tinto and has now acquired 57.7 percent ownership interest in the Russell Lake project.

The project is adjacent to Denison’s Wheeler River project and Skyharbour’s Moore uranium project. It is supported by excellent infrastructure in terms of highway access as well as high-voltage power lines. The project has undergone a significant amount of historical exploration which includes over 95,000 meters of drilling in over 220 drill holes. The exploration identified numerous prospective target areas and several high-grade uranium showings as well as drill hole intercepts.

The property hosts several noteworthy exploration targets, including the Grayling Zone, the M-Zone Extension target, the Little Man Lake target, the Christie Lake target, and the Fox Lake Trail target. Skyharbour completed a 19-hole drilling program totaling 9,595 meters in three phases in 2023. The initial drilling phase encompassed 3,662 meters across eight completed holes at the Grayling Zone, followed by a second phase involving four holes totaling 2,730 meters drilled at the Fox Lake Trail Zone. The third drilling phase involved 3,203 meters across seven holes targeting additional areas within the Grayling Zone.

Drilling at Russell in 2024 was completed in two separate phases with a total of 3,094 metres drilled in six holes. Phase One of drilling resulted in the best intercept of uranium mineralization historically on the property from hole RSL24-02, which returned a 2.5 metre wide intercept of 0.721 percent U3O8 at a relatively shallow depth of 338.1 metres, including 2.99 percent U3O8 over 0.5 metres at 339.6 metres just above the unconformity in the sandstone. The second phase of drilling was recently completed which totalled approximately 4,500 metres, with assays pending.

Skyharbour has recently commenced its 2025 drilling program at the Russell Lake project with a first phase consisting of approximately 5,000 metres to follow up on notable recent exploration success and to test new targets developed by the geological team. The focus for this phase of drilling will be on the Fork and Sphinx targets within the broader Grayling target area, as well as the M-Zone Extension target and the Fox Lake Trail target. This initial winter program will consist of 10 to 12 drill holes, with most of the targets being road accessible and near the exploration camp, bringing the drill costs down.

Prospect Generator Strategy

In addition to being a high-grade uranium exploration and early stage development company, Skyharbour utilizes a prospect generator strategy by bringing in partner companies to acquire interests in some of our secondary projects by funding exploration at these projects and making cash and share payments to Skyharbour over a period of time. This model allows the Company to focus efforts and capital at our core projects which include the Moore Lake and Russell Lake Projects, while having our JV and option partner companies fund and advance our secondary projects.

Skyharbour partner companies include Orano Canada, Azincourt Energy, Thunderbird Resources, Basin Uranium Corp., North Shore Uranium and Terra Clean Energy, advancing the Preston, East Preston, Hook Lake, Mann Lake, Falcon and South Falcon East Projects, respectively. More recently, three new earn-in option agreements have been signed with UraEx Resources at the South Dufferin and Bolt Projects, Hatchet Uranium at the Highway Project, and Mustang Energy at the 914W Project, bringing the total partner companies to nine. Skyharbour now has option agreements that total over CAD $36 million in exploration expenditures, over $20 million in stock being issued and $14 million in cash payments coming into Skyharbour, assuming that these partner companies complete their full earn-ins at their respective projects.

Furthermore, Skyharbour’s project portfolio is bolstered by several other 100% owned projects scattered throughout the Athabasca Basin that they can look to option/JV or sell to grow their robust model.

Management Team

Jordan Trimble – President and CEO

With a background in entrepreneurship, Jordan Trimble has held various positions in the resource industry, focusing on management, corporate finance, strategy, shareholder communications, business development, and capital raising with multiple companies. Prior to his role at Skyharbour, he was the corporate development manager at Bayfield Ventures, a gold company with projects in Ontario. Bayfield Ventures was subsequently acquired by New Gold (TSX:NGD) in 2014. Throughout his career, Trimble has established and assisted in the management of numerous public and private enterprises. He has played a pivotal role in securing significant capital for mining companies, leveraging his extensive network of institutional and retail investors.

Jim Pettit – Chairman of the Board

Jim Pettit currently serves as a director on the boards of various public resource companies, drawing from over 30 years of experience in the industry. His expertise lies in finance, corporate governance, management and compliance, particularly in the early-stage development of both private and public enterprises. Over the past three decades, he has primarily focused on the resource sector. Previously, he served as chairman and CEO of Bayfield Ventures, which was acquired by New Gold in 2014.

David Cates – Director

David Cates currently serves as the president and CEO of Denison Mines (TSX:DML). Before assuming the role of president and CEO, Cates was the vice-president of finance, tax, and chief financial officer at Denison. In his capacity as CFO, he played a pivotal role in the company’s mergers and acquisitions activities, including spearheading the acquisition of Rockgate Capital and International Enexco. Cates joined Denison in 2008, initially serving as director of taxation before he was appointed CFO. Prior to joining Denison, he held positions at Kinross Gold and PwC with a focus on the resource industry.

Joseph Gallucci – Director

Joseph Gallucci was previously a senior manager at a leading Canadian accounting firm. He possesses more than two decades of expertise in investment banking and equity research, specializing in mining, base metals, precious metals, and bulk commodities worldwide. He serves as a senior capital markets executive and corporate director. Presently, Gallucci is the managing director and head of investment banking at Laurentian Bank Securities, where he assumes responsibility for overseeing the entire investment banking practice.

Brady Rak – VP of Business Development

Brady Rak is a seasoned investment professional who has focussed on the Canadian capital markets over his 13-year career at several independent broker dealers including Ventum Financial, Salman Partners and Union Securities. As a registered investment advisor in the private client division of Ventum Financial, Brady has been involved in advising high-net-worth and corporate clients, structuring transactions, raising capital and navigating global market sentiment. Brady graduated from Northwood University with a BBA in Management and holds his Options license.

Serdar Donmez – Vice-president of Exploration

A recognized geoscientist with decades of experience in uranium exploration and development, Serdar Donmez has played an active role in numerous grassroots and advanced uranium exploration projects in northern Saskatchewan and Zambia. Donmez has an engineering degree in geology and is a registered professional geoscientist with the Association of Professional Engineers and Geoscientists of Saskatchewan. During his 17-year tenure at Denison Mines, Donmez was pivotal in advancing numerous uranium exploration and development projects. He was involved in various capacities with the Phoenix and Gryphon uranium deposits on Denison’s Wheeler River project, from initial discovery to the completion of the feasibility study in 2023. As resource geology manager, he was integral to the development of mineral resource estimates and NI 43-101 technical reports for several advanced exploration projects in the Athabasca Basin. Additionally, he was part of a team exploring the application of in-situ recovery mining techniques for high-grade uranium deposits in the Athabasca Basin.

Dave Billard – Head Consulting Geologist

Dave Billard is a geologist with over 35 years of experience in exploration and development, focusing on uranium, gold and base metals in western Canada and the western US. He served as chief operating officer, vice-president of exploration, and director for JNR Resources before its acquisition by Denison Mines. He played a crucial role in the discovery of JNR’s Maverick and Fraser Lakes B zones. Earlier in his career, he contributed to the discovery and development of several significant gold deposits in northern Saskatchewan. Prior to joining JNR, Billard worked as a geological consultant specializing in uranium exploration in the Athabasca Basin. He also spent over 12 years with Cameco Corporation.

Christine McKechnie – Senior Project Geologist

Christine McKechnie is a geologist with a specialization in uranium deposits, particularly those hosted in the basement and associated with unconformities in the Athabasca Basin and its vicinity. Throughout her career, she has worked with various companies such as Claude Resources, JNR Resources, CanAlaska Uranium and Cameco, engaging in gold and uranium exploration activities. She completed her B.Sc. (High Honors) in 2008 from the University of Saskatchewan and completed a M.Sc. thesis on the Fraser Lakes Zone B deposit at the Falcon Point project. She also received the 2015 CIM Barlow Medal for Best Geological Paper.

Investor Insight

Juggernaut Exploration is an early-stage explorer and project generator with a compelling investment story, focused on unlocking high-grade precious and base metal discoveries in the prolific Golden Triangle of northwestern British Columbia.

Overview

Juggernaut Exploration(TSXV:JUGR,OTCQB:JUGRF,FSE:4JE) is a precious metals explorer focused on northwestern British Columbia’s Golden Triangle, a globally recognized district for world-class porphyry, VMS and high-grade gold systems. The company operates in a geopolitically stable jurisdiction with excellent infrastructure, adjacent to Newmont’s Galore Creek project and in proximity to major road and airstrip developments.

The company controls three 100 percent owned projects – Big One, Midas and Bingo – totaling nearly 60,000 hectares in the heart of British Columbia’s most prolific mineral belt.

The company’s current strategy focuses on aggressive exploration at its flagship Big One project, where the rapid abatement of glacial cover led to the discovery of over 200 mineralized veins in a matter of days. The scale of the system, coupled with strong geophysical and geochemical signatures, points to a significant buried porphyry system.

Backed by world-renowned geologist Dr. Quinton Hennigh, Juggernaut is founded by the team behind Goliath Resources, which returned 2,400 percent to early investors in just 20 months.

Company Highlights

• The Big One property has uncovered an 11-km gold-rich porphyry system, described as a “highway of gold,” adjacent to Newmont’s $100 billion Galore Creek project.
• Founded by the team behind Goliath Resources, which returned 2,400 percent to early investors in just 20 months. Juggernaut is supported by world-renowned geologist Dr. Quinton Hennigh.
• Crescat Capital is a cornerstone investor, holding a 19.99 percent stake and providing both financial and technical backing.
• The company controls three 100 percent owned projects – Big One, Midas and Bingo – totaling nearly 60,000 hectares in the heart of the Golden Triangle in British Columbia.
• With $11.5 million recently raised, the 2025 field season is fully funded. The upcoming campaign aims to scale and define the scope of the porphyry system discovered in just five days of boots-on-the-ground work.
• Over 70 percent of the company’s shares are held by management, insiders and accredited investors. The company is debt-free.

Key Projects

Big One

The Big One project is Juggernaut’s flagship asset and the focus of its 2025 exploration campaign. Located in the heart of British Columbia’s Golden Triangle, the property spans 36,989 hectares of world-class geological terrain, 95 percent of which remains unexplored.

The project benefits from rapid glacial and snowpack abatement, which has recently exposed a vast mineralized system previously hidden under ice. This includes the newly identified Eldorado porphyry system, a high-grade, multi-kilometer corridor with grades reaching up to 79.01 grams per ton (g/t) gold and 3,157 g/t silver. More than 200 quartz-sulphide veins, containing semi-massive to massive chalcopyrite, sphalerite and galena, have been identified within a 4 km x 1 km alteration footprint, with coincident geophysical anomalies suggesting the presence of a large, buried mineralizing system at depth.

Drill-ready targets include the Whopper Vein (16.04 g/t gold equivalent over 8 meters, >200 m strike length) and the Big Mac Vein (41.46 g/t gold equivalent over 4 m), both of which are planned for drill testing in 2025.

The Big One project qualifies for the Critical Mineral Exploration Tax Credit and is strategically located adjacent to key infrastructure, including the Scud airstrip and a new $45 million government-funded road within 12 km of the site.

Midas

The Midas property covers 20,803 hectares in a geologically favorable setting for volcanogenic massive sulphide (VHMS) deposits, particularly those resembling the high-grade Eskay Creek system. Drilling at the Kokomo zone has intercepted significant VHMS-style mineralization, including standout results such as 8.27 g/t gold equivalent over 11.03 meters (MD-24-47) and 6.85 g/t gold over 9 meters (MD-18-08). The mineralized zone remains open to the north, and the company plans to step out aggressively with additional drilling.

Midas is considered a strong near-term value generator with potential for scale through further discovery.

Bingo

The Bingo property, although smaller in footprint at 1,008 hectares, is located in a structurally favorable setting for shear-hosted gold systems. The project features a 700-meter x 400-meter mineralized zone characterized by consistent sulphide mineralization. Sampling has confirmed an average mineralized width of 7 meters with grades averaging 5.67 g/t gold equivalent. The presence of strong K-spar alteration in the northeast quadrant of the property suggests proximity to a porphyry feeder system, making Bingo a compelling target for both high-grade, shear-hosted and porphyry-style exploration.

Management Team

Dan Stuart – President, CEO & Director

Dan Stuart has over 30 years of experience in capital markets, having raised more than $500 million for natural resource companies. He is a founding member and financier of several private mineral syndicates, including the J2 Syndicate behind Goliath Resources. Stuart is known for his investor acumen and has established strong institutional relationships in North America, Europe, Asia and the Middle East. Under his leadership, Juggernaut secured cornerstone funding from Crescat Capital and Dr. Quinton Hennigh while simultaneously building a platform for rapid discovery-driven growth.

Jim McCrea – Director

Jim McCrea brings 25 years of exploration and resource estimation experience. Notably, he worked on orebody modeling and resource estimation at Cumberland Resources, which was acquired by Agnico Eagle for $710 million. His deep expertise in geology and modeling helps guide exploration targeting and resource development.

William Jung – Director & CFO

A former chartered accountant with over 35 years of experience in finance, William Jung has managed several publicly listed companies on the TSX. His oversight ensures financial discipline, compliance and strategic capital allocation.

Peter Bryant – Director

Peter Bryant is a seasoned international investment banker with 45 years of experience, including senior roles at Standard Chartered Group, Hill Samuel Group and Guinness Mahon Holdings in London. His presence brings strong governance and capital markets insights to the board.

Chris Verrico – Director

Chris Verrico has over two decades of experience managing mineral exploration and infrastructure projects in remote northern regions, including British Columbia, Yukon and Nunavut. His knowledge of field operations and community engagement is critical to project execution.

Bill Chornobay – Program Manager

Bill Chornobay has over 30 years of experience in mineral exploration and has been directly involved in discoveries resulting in more than $1 billion in value. He played a pivotal role in the Surebet discovery for Goliath Resources and now leads on-ground execution at Juggernaut.

Dr. Quinton Hennigh – Technical Advisor

A globally respected exploration geologist, Dr. Quinton Hennigh has over 30 years of experience with major mining companies, including Homestake, Newcrest and Newmont. He is currently the chairman of Novo Resources and serves as a technical advisor to Crescat Capital. His guidance has helped validate and shape the exploration strategy at Juggernaut.

Dr. Manuele Lazzarotto – Senior Consulting Geologist

Dr. Manuele Lazzarotto has eight years of experience advancing early-stage exploration projects into defined resources, particularly in VMS and gold systems. He played a critical technical role in the Surebet discovery and brings valuable geological and structural insight to Juggernaut’s targeting approach.

Investor Insight

Kalgoorlie Gold Mining offers investors a compelling proposition through its strategic focus on low-cost gold exploration in Western Australia’s prolific Eastern Goldfields, highlighted by its Lighthorse high-grade gold discovery at the Pinjin project.

Overview

Kalgoorlie Gold Mining (ASX:KAL) is a technically driven explorer targeting multi-million-ounce gold systems in the Eastern Goldfields of Western Australia. Through rigorous geophysical interpretation, structural targeting, and systematic drilling, the company is applying modern techniques to historically overlooked terranes. Its focus is on discovering concealed gold deposits beneath shallow cover by leveraging a proven methodology that includes geophysical analysis, geochemistry, aircore reconnaissance and RC follow-up drilling.

At the heart of this strategy is the flagship Pinjin project, located along the underexplored southern extension of the Laverton Tectonic Zone, a prolific gold-bearing structure responsible for over 30 Moz of historical production from mines such as Sunrise Dam, Granny Smith and Wallaby. Positioned just 20 km north of Ramelius Resources’ Rebecca gold project, Pinjin is ideally situated in a district that has seen limited modern exploration. Kalgoorlie Gold has already delivered a maiden JORC 2012 inferred resource of 76,400 oz (2.34 Mt @ 1.0 g/t gold) at the Kirgella Gift and Providence prospects. These results confirm the presence of shallow mineralization and validate the company’s targeting model. Numerous structural targets have been identified throughout the project area, the majority of which remain untested.

Within Pinjin, the Light Horse Discovery is the company’s highest-impact target, where RC drilling has confirmed thick, high-grade mineralization in altered mafic volcanics. The discovery validates Kalgoorlie Gold’s undercover targeting model and is being advanced toward a maiden resource.

Complementing this is the Bulong Taurus project, 35 km east of Kalgoorlie, which hosts the La Mascotte deposit with a JORC inferred resource of 138,000 oz gold (3.61 Mt @ 1.19 g/t). The project includes historic workings and satellite prospects within a structurally favorable corridor. While a secondary focus, heritage approvals are underway to enable follow-up drilling and assess near-term development potential.

To date, Kalgoorlie Gold has tested only around 10 percent of its known targets but has already encountered mineralization in roughly half of them – an exceptional hit rate that underscores the strength of its approach. As the company ramps up its exploration programs, it is positioning itself as one of the most compelling early-stage gold discovery stories in the Australian market.

Company Highlights

• District-scale Positioning: Kalgoorlie Gold controls an expansive, underexplored land package in the Laverton Tectonic Zone, south of major operations like Sunrise Dam and Wallaby and just 20 km north of the planned Rebecca gold mine.
• Lighthorse Discovery: Thick, high-grade gold intercepts under shallow cover confirm a significant greenfields discovery, with potential for resource definition and scale.
• JORC Resource Established at Pinjin: An initial 76,400 oz gold resource at Kirgella Gift and Providence validates the company’s targeting strategy.
• Systematic Exploration Success: >10 targets tested, ~50 percent hit rate with anomalous high-grade gold. Over 90 percent of the company’s target inventory remains untested.
• Experienced Leadership: Matt Painter, managing director, brings deep structural geology expertise and a strong history of generating successful exploration targets globally.
• Favorable Market Tailwinds: With gold trading near all-time highs, Kalgoorlie Gold offers leveraged upside through discovery-driven valuation re-rates.

Key Projects

Pinjin Project

The Pinjin project covers more than 350 sq km and is situated within the southern extension of the Laverton Tectonic Zone, a crustal-scale shear corridor accounting for >30 Moz of historical production. Despite its proximity to major mines, this southern area has seen minimal modern exploration.

Kalgoorlie Gold’s initial focus has been the Kirgella Gift and Providence prospects, where the company defined a JORC 2012 inferred resource of 2.34 Mt @ 1.0 g/t Au for 76,400oz. This estimate was derived from near-surface RC drilling down to ~100 metres, with mineralization remaining open at depth and along strike.

The company has also acquired geophysical datasets and conducted interpretation work to identify additional structural corridors and dilation zones likely to host mineralization. These were validated by soil sampling, structural mapping and aircore drilling. Work completed to date includes more than 16,000 metres of drilling, extensive geological mapping, and data reinterpretation, while upcoming plans involve deeper drilling, geophysics to enhance target definition, and continued aircore programs to expand the exploration footprint.

Lighthorse Discovery

The Lighthorse prospect, situated within the greater Pinjin project area, represents Kalgoorlie Gold’s most promising greenfields discovery to date. Discovered beneath shallow cover using the company’s rigorous targeting methodology, Light Horse has yielded multiple thick, high-grade intercepts, confirming the presence of a significant mineralized system. RC drilling has returned standout results such as 2.2 g/t gold over 23 metres, 3.1 g/t gold over 14 metres, and 6.5 g/t gold over 7 metres. These intercepts occur in altered mafic volcanics and are interpreted to represent a robust gold system with potential for lateral and vertical continuity. The discovery validates Kalgoorlie Gold’s structural targeting model and supports the thesis that the region may host not just a single deposit, but a larger gold field. Currently, Lighthorse is the highest-priority drill target in the company’s pipeline. Near-term plans include further RC step-out and infill drilling to define mineralized zones, downhole geophysics to guide targeting of high-grade shoots, and eventual metallurgical sampling. A maiden resource is anticipated following the next phase of drilling, with the potential to rapidly advance toward scoping studies in 2026.

Bulong Taurus Project

Located just 35 kilometres east of Kalgoorlie-Boulder, the Bulong Taurus project offers near-term optionality and brownfields upside. The project hosts the La Mascotte deposit, which contains a JORC 2012 inferred mineral resource of 138,000 oz at 1.19 g/t gold. This outcropping resource is located within the historical Taurus Goldfield and is surrounded by a suite of satellite targets, historical workings and underexplored geophysical anomalies. The geology is characterized by a mix of felsic and mafic volcaniclastic units, cut by northeast-trending structures favorable for gold deposition. Kalgoorlie Gold has undertaken mapping, sampling and historical data reprocessing to refine targeting, and is currently working with Traditional Owners to secure heritage clearances for further exploration. Planned future activities at Bulong Taurus include RC drilling to test extensions of La Mascotte, soil and geophysical surveys across adjacent prospects, and evaluation of development or joint venture options depending on resource scale and continuity. While not the company’s primary focus, Bulong Taurus offers strategic exposure to additional ounces near existing infrastructure.

Management Team

Dr. Matt Painter – Managing Director & Chief Executive Officer

Dr. Matt Painter is a geologist with over 25 years of experience in mineral exploration and project development. He holds a BSc (Hons) and a PhD in geology. Before joining Kalgoorlie Gold Mining, Painter served as general manager of exploration at Ardea Resources Limited, where he played a pivotal role in advancing the company’s gold and nickel projects. His expertise lies in structural geology and the discovery of concealed mineral systems, which is instrumental in driving Kalgoorlie Gold Mining’s exploration strategy.

Graeme Smith – Chief Financial Officer & Company Secretary

Graeme Smith brings more than 30 years of financial and corporate governance experience to Kalgoorlie Gold Mining. He holds a Bachelor of Economics and is a Fellow of the Chartered Institute of Secretaries, a Fellow of CPA Australia, and a Fellow of the Chartered Secretaries Australia. Smith has held senior financial roles across various ASX-listed companies, providing strategic financial oversight and ensuring compliance with corporate regulations.

Pauline Gately – Non-executive Chair

Pauline Gately is an accomplished non-executive director with over a decade of board experience across the mining, financial technology and consumer goods sectors. Her board contributions are underpinned by 20 years in investment banking, encompassing senior roles in investment strategy, economics and funds management. Gately is a graduate and member of the Australian Institute of Company Directors and holds a BA (Hons) in Economics and a Graduate Diploma in Accounting. She also serves as a non-executive director of Ardiden Limited.

Andrew Penkethman – Non-executive Director

Andrew Penkethman is a geologist with more than 25 years of technical and corporate experience in the resources sector. He has worked across exploration, feasibility studies, and operations within Australia and internationally. Penkethman is currently the managing director and CEO of Ardea Resources, bringing valuable insights into project development and strategic planning to the board of Kalgoorlie Gold Mining.

Scott Herrmann – Exploration Manager

Scott Herrmann oversees Kalgoorlie Gold’s exploration programs across its project portfolio. With a strong background in geology and mineral exploration, Herrmann plays a critical role in target generation and drill program execution, contributing to the company’s discovery success.

Investor Insight

Leveraging early-stage land acquisition, accelerated drilling and a strong strategic partnership, Lithium Africa delivers maximum exploration efficiency, capital leverage and de-risked lithium discovery upside at scale.

Overview

Lithium Africa is an exploration company purpose-built to capitalize on the next cycle of lithium demand. Its strategic mission is to discover, de-risk and monetize Tier 1 lithium assets through data-driven targeting, aggressive fieldwork and value-driven exits. The company’s unique 50/50 joint venture with Ganfeng Lithium is the cornerstone of its strategy, providing both financial leverage and industrial alignment at the earliest stages of project development.

Africa remains largely underexplored for lithium despite sharing geological similarities with major hardrock lithium belts in Canada and Australia. Lithium Africa is the first company to systematically deploy a multi-jurisdictional discovery strategy across the continent – combining top-tier geology with capital efficiency and strategic clarity.

At the heart of Lithium Africa’s model is its joint venture with Ganfeng Lithium, one of the top two lithium chemical producers globally. The 50/50 JV, established in 2023, enables Lithium Africa to double its capital efficiency, with $1 raised equating to $2 spent on exploration. The partnership provides unmatched advantages: access to Ganfeng’s downstream processing know-how, established customer relationships with Tier 1 OEMs, and a long-term offtake framework that allows Lithium Africa to retain flexibility and optionality on any asset monetization.

Lithium Africa does not intend to develop or operate mines. Instead, the business model is designed around efficient land acquisition, aggressive de-risking via trenching, sampling, and early drilling, and ultimately monetizing high-value discoveries through royalties, sales or carried interests. In a down market, the company is actively pursuing counter-cyclical M&A opportunities to acquire stranded or undercapitalized lithium assets. With this strategy, Lithium Africa provides shareholders exposure to world-class discovery upside with significantly reduced financing risk.

Company Highlights

• Exploration-focused Model: Lithium Africa focuses purely on discovery and value creation, with no intention to develop or operate a mine
• Strategic 50/50 JV with Ganfeng Lithium: Doubles exploration spending and provides access to processing expertise and long-term downstream offtake partners.
• Pan-African Footprint: Over 8,000 sq km of tenure across Zimbabwe, Morocco, Mali, Côte d’Ivoire, Guinea, and others – enabling diversification in discovery strategy.
• Contrarian, Countercyclical M&A: Well-capitalized and positioned to roll up distressed lithium juniors during a downcycle
• Rapid Permitting & Scalability: Target jurisdictions offer 3- to 4-year discovery-to-mine timelines versus 10 to 15 years in North America.
• RTO & Listing Expected by August 2025: Tight structure, early institutional support and significant near-term drilling catalysts.

Key Projects

Zimbabwe

Birthday Gift Project (Flagship)

The Birthday Gift project is Lithium Africa’s flagship asset and highest-priority exploration target. Located along a >12 km pegmatite corridor, the project hosts three parallel, flat-lying spodumene-bearing pegmatites within metasediments. Surface trenching has returned multiple significant intercepts, including 100 m, 67 m, and 55 m widths with true thicknesses averaging ~35 m. Rock chip samples from fresh spodumene zones have returned assays as high as 5.25 percent lithium oxide. More than 3,000 geochemical samples have been collected, and a 1,500-meter RC drill program commenced in January 2025 to test a 1,300-meter strike length.

The pegmatites remain open at depth and along strike. SGS South Africa is performing ICP assay analysis, and environmental permitting and trenching on the western trend are ongoing.

The Birthday Gift asset has strong potential to support an inaugural resource estimate by late 2025.

West Africa

Torakoura in Bougouni District, Mali

Lithium Africa controls six highly prospective licenses in Mali, located within the prolific Bougouni Basin, home to Leo Lithium’s Goulamina project, one of the world’s largest spodumene deposits. The Torakoura permit is situated along the same structural corridors and granitic host rocks. Surface exploration has identified spodumene-bearing pegmatites, supported by strong lithium and pathfinder anomalies from historic soil sampling.

Initial drilling at Torakoura began in 2024 but paused for LIBS-to-ICP calibration. A new RC drilling campaign resumed in Q4 2024. These permits offer substantial scale and proximity advantages in a well-established lithium district with proven permitting and development pathways.

Adzopé & Regional Licenses, Côte d’Ivoire

In Côte d’Ivoire, Lithium Africa holds four early-stage but highly promising permits totaling 1,254 sq km. The Adzopé license has returned rock samples with lithium oxide values up to 0.98 percent. Field mapping and lithological sampling have been completed, and a 21,700-meter auger drilling program is planned to refine targets for follow-up RC and core drilling. The region is emerging as a new pegmatite belt in West Africa, and Lithium Africa has first-mover status in building a pipeline of discovery-stage projects.

Kobikoro Project, Guinea

The Kobikoro project in southeastern Guinea consists of four licenses covering 376 sq km in the Archean Kinema-Man domain. This district is part of the underexplored Kissidougou pegmatite belt. Historical stream sediment geochemistry conducted by BRGM highlights multiple anomalous trends in lithium, tantalum and niobium. The standout feature is a 20 km-long lithium-tantalum-niobium anomalous zone aligned with regional structures and underlain by fractionated granite intrusions.

Morocco

Bir El Mami

In 2024, Lithium Africa acquired a 585 sq km, district-scale land package in the Bir El Mami region of Morocco, located on the northern extension of the Tasiast greenstone belt. The project is notable for its spodumene-bearing pegmatites confirmed by surface rock samples, which include lithium values up to 862 parts per million (ppm), and historic soil anomalies up to 363 ppm. The region is emerging as a key lithium district given Morocco’s favorable trade agreements and a growing domestic EV battery manufacturing base. Lithium Africa is currently Morocco’s only major lithium concession holder, and early-stage target identification is underway as of Q1 2025. The company is well positioned to be Morocco’s lithium sector leader and consolidator.

Management Team

Tyron Breytenbach – CEO

Tyron Breytenbach is a former Detour Gold resource geologist and leading equity analyst at Stifel Canada and Cormark. He blends deep geology with institutional capital markets acumen.

Carl Esprey – Executive Chair

Carl Esprey is a former M&A analyst at BHP Billiton and fund manager at GLG Partners. He is the founder of several resource ventures and current CEO of Waraba Gold.

Coulibaly Mamadou – Executive Director

Coulibaly Mamadou is a geologist with 12 years’ experience in mineral exploration. Coulibaly started his career with Randgold, and has extensive knowledge of and experience with the West African Birimian geology.

Ben Gelber – VP Exploration

Ben Gelber is a former VP at Gold Line Resources and exploration manager at Barrick in Guyana. He has more than 19 years of lithium and gold exploration experience.

Dr. Jeroen van Duijvenbode – Development Geologist

With a PhD in geometallurgy, Jeroen van Duijvenbode is an expert in lithium pegmatite targeting and geochemical data interpretation.

Jamie Robinson – CFO

Jamie Robinson is a chartered accountant with extensive mining CFO experience across private and public markets. Prior to his stint in the mining sector, he worked with Deloitte in Vancouver, British Columbia.

Chris O’Connor – General Counsel

Chris is a lawyer with over 19 years of private practice and in-house experience, focused on capital markets, corporate finance and M&A transactions in emerging markets throughout Africa, Eastern Europe and the CIS.

Toluwalase Seriki – Non-Executive Director

Toluwalase Seriki is Ganfeng Lithium’s head of business development in Africa. He possesses a strong M&A and finance background.

Roy Zhang – Advisor

Roy Zhang has nearly 10 years of experience in investment, M&A and corporate development, and is experienced and knowledgeable in lithium trading through his role at Ganfeng.

Dr. Tom Benson – Advisor

Tom Benson is a Stanford PhD volcanologist who leads global exploration at Lithium Americas. He is a widely respected authority on caldera-related lithium resources across the industry.