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1911 Gold Intersects up to 24.83 g/t Gold over 2.60 m on San Antonio West at the True North Gold Project

Investing 17 Mins Read

 1911 Gold Corporation (‘1911 Gold’ or the ‘Company’) (TSXV: AUMB,OTC:AUMBF) (OTCBB: AUMBF) (FRA: 2KY) is pleased to announce new assay results from the surface drill program at the Company’s wholly-owned operational and fully permitted True North Gold Project (‘True North’), centrally located within the Company’s 100%-owned Rice Lake Gold property, southeast Manitoba, Canada. The latest assay results are from five (5) drill holes for 1,867 metres (‘m’) targeting the San Antonio West target (‘SAM W’).

 

Drilling* Highlights:

  • Surface drilling completed to date on the new SAM W target has confirmed quartz vein-hosted gold (‘Au’) mineralization to a depth of 630 m below surface
    • TN-25-064: Intersected 24.83 grams per tonne (‘g/t’) Au over 2.60 m (at 490.00 m), including 46.00 g/t Au over 1.00 m, including 63.20 g/t Au over 0.50 m, 28.80 g/t Au over 0.50 m and 32.40 g/t Au over 0.50 m
    • TN-25-067: Intersected 4.04 g/t Au over 5.80 m (at 467.60 m), including 23.90 g/t Au over 0.50 m and 6.12 g/t Au over 0.50 m
    • TN-25-071: Intersected 12.80 g/t Au over 0.80 m (at 473.50 m)
  • The drill holes targeting the SAM W down-dip extensions also intersected significant gold mineralization within an area defined as the Annex target (to the east and at shallower depths to SAM W), confirming historical gold mineralization defined in the area:
    • TN-25-061: Intersected 10.00 g/t Au over 0.50 m (at 247.80 m) and 8.75 g/t Au over 2.60 m (at 294.00 m), including 18.00 g/t Au over 1.00 m
    • TN-25-064: Intersected 2.94 g/t Au over 3.10 m (at 271.60 m), including 6.71 g/t Au over 1.00 m
    • TN-25-067: Intersected 5.23 g/t Au over 2.50 m (at 272.50 m), including 5.76 g/t Au over 2.00 m and 9.18 g/t Au over 0.50 m
    • TN-25-071: Intersected 6.73 g/t Au over 1.40 m (at 307.60 m), including 7.47 g/t Au over 0.90 m

* All drill results are quoted as downhole drill lengths, and downhole depth.

‘San Antonio West continues to deliver some of the best near-mine exploration results we’ve seen at True North,’ stated Shaun Heinrichs, President and CEO. ‘These high-grade intercepts demonstrate the strength of the True North mineralized system and highlights the continued opportunity to outline new zones of mineralization adjacent to existing infrastructure. With the transition to underground drilling, we will accelerate resource growth across multiple target areas building towards a sustainable restart of operations.’

1911 Gold has now completed seventy-five (75) surface drill holes, for a total of 20,398 m of drilling as part of the 2025 surface exploration drill program (the ‘2025 Surface Drill Program‘). The 2025 Surface Drill Program focused on new targets defined by favourable host rocks and mineralized structural settings within the True North Mine footprint, also supported by significant historical drill intercepts that were close to surface and existing infrastructure. The most recent phase of the program consisted of two drill rigs targeting the down-dip extensions of mineralization at the new high-grade San Antonio Southeast (‘SAM SE‘) and SAM W target areas, as well as the newly identified Shore target. The surface drilling program was completed on September 20, 2025, and these are the last assay results being reported for the program. Project activities have now shifted to underground exploration, resource expansion and resource delineation drilling. Underground drilling within the True North Mine commenced on October 1, 2025, with one (1) drill rig on Level 16 (695 m below surface) and a second drill rig added on November 6, 2025.

*Along the Cartwright South shear zone projected to vertical, San Antonio drifts and shafts projected up to 250 m from the south-east

**For other drill results see press release dated June 10, 2025 (1911 Gold intersects up to 58.66 g/t Gold over 1.40 m on San Antonio West Zone at True North); April 30, 2025 (1911 Gold intersects 62.40 g/t Au over 1.00 m on San Antonio West Zone at True North) and February 4, 2025 (1911 Gold intersects 8.42 g/t Gold over 0.91 m and 7.23 g/t Gold over 1.05 m in Drilling at True North).

 

Table 1: Select Significant Drill Hole Assay Results

Target Area

(name)

Drill Hole

(number)

From

(m)

To

(m)

Interval

(m)

Au

(g/t)

Annex

TN-25-061

247.30

247.80

0.50

10.00

250.00

251.00

1.00

4.23

293.70

296.30

2.60

8.75

Including

295.30

296.30

1.00

18.00

Annex

TN-25-064

271.60

274.70

3.10

2.94

Including

273.70

274.70

1.00

6.71

SAM W

TN-25-064

490.00

492.60

2.60

24.83

Including

490.00

491.00

1.00

46.00

Including

490.00

490.50

0.50

63.20

and

490.50

491.00

0.50

28.80

and

492.10

492.60

0.50

32.40

Annex

TN-25-067

272.50

275.00

2.50

5.23

Including

273.00

275.00

2.00

5.76

and

274.50

275.00

0.50

9.18

SAM W

TN-25-067

467.60

473.40

5.80

4.04

Including

467.60

468.10

0.50

23.90

and

472.90

473.40

0.50

6.12

497.20

497.70

0.50

4.88

Annex

TN-25-071

274.10

274.60

0.50

2.89

307.60

309.00

1.40

6.73

Including

307.60

308.50

0.90

7.47

313.70

314.30

0.60

2.34

317.90

318.50

0.60

3.88

322.00

322.50

0.50

5.01

SAM W

TN-25-071

473.50

474.30

0.80

12.80

1)

Intercepts above a cut-off grade of 2.25 g/t Au

2)

Maximum of 2.50 m internal dilution and no top capping applied

3)

Intervals represent drill core length and are considered to represent 60% to 90% of true widths

4)

Full Significant Assay Results included in Table 2

5)

Drill hole Information included in Table 3

San Antonio West Target: Discussion of Results

Drilling completed to date has confirmed the extensions of gold mineralization within the SAM gabbro to over 600 m northwest of the historically mined San Antonio zone, covering an area 400 m long and up to  630 m in depth. Twenty-six (26) surface drill holes, for a total of 6,087 m, were drilled on the SAM W target area as part of the 2025 program. The results of five (5) drill holes for 1,867 m are included in this press release, of which two (2) drill holes, TN-25-061 (311 m downhole depth) and TN-25-071A (30 m downhole depth), did not reach target depths and were abandoned due to hole deviation.

Drilling on the SAM W target confirmed the presence of a vein system parallel to the historical San Antonio ore body, which shares the same geology, alteration, and mineralization characteristics. The mineralized intercepts are characterized by quartz-carbonate shear veins and vein breccias with sericite, chlorite alteration and pyrite disseminated and in veinlets developed in association with east and northwest trending shear zone corridors.

Drill hole TN-25-064 tested the down-dip extensions of the modelled SAM W target area. Drilling successfully intercepted high-grade gold mineralization with the best intercept of 2.60 m @ 24.83 g/t Au (at 490.00 m downhole depth).

Drill hole TN-25-067 tested the 100 m down-dip extension of gold mineralization intersected in hole TN-25-058 (0.50 m @ 10.40 g/t Au), and intersected two distinct gold mineralized veins including 0.50 m @ 10.40 g/t Au, see press release dated June 10, 2025 (1911 Gold Intersects up to 58.66 g/t Au over 1.40 m on San Antonio West zone at True North).

Drill hole TN-25-71 was designed to test 100 m west of gold mineralization intersected in drill hole TN-25-060 (2.60 m @ 24.83 g/t Au), and intersected 0.80 m @ 12.80 g/t Au, see press release dated June 10, 2025 (1911 Gold Intersects up to 58.66 g/t Au over 1.40 m on San Antonio West zone at True North).  

Annex Target: Discussion of Results

Drilling completed on the Annex target defined high-grade gold mineralization within a dacitic volcaniclastic unit. The gold mineralization is associated with well-developed quartz shear veins and vein breccias within a carbonate, sericite +/- chlorite alteration assemblage and disseminated and veinlet-hosted pyrite and occasionally specs of native gold.

Drill hole TN-25-061 intercepted 0.50 m @ 10.00 g/t Au (at 247.30 m downhole depth) and 2.60 m @ 8.75 g/t Au (at 293.70 m downhole depth), including 1.00 m @ 18.00 g/t Au (at 295.30 m downhole depth).

Drill hole TN-25-064 intercepted 3.10 m @ 2.94 g/t Au (at 271.60 m downhole depth), including 1.00 m @ 6.71 g/t Au (at 273.70 m downhole depth).

Drill hole TN-25-067 intercepted 2.50 m @ 5.23 g/t Au (at 272.50 m downhole depth), including 2.00 m @ 5.76 g/t Au (at 273.70 m downhole depth), and 0.50 m @ 9.18 g/t Au (at 274.50 m downhole depth).

Drill hole TN-25-071 intercepted 1.40 m @ 6.73 g/t Au (at 307.60 m downhole depth), including 0.90 m @ 7.47 g/t Au.

The high-grade nature and width of the drill intercepts and the preliminary size of the area drilled (120 m on strike and 160 m vertically and open up and down dip) represent an additional emerging target within the mine footprint. Upon modelling, this area could be further drilled from surface to define a potential new ore source in close proximity of the True North Mine infrastructure.

San Antonio West Target

The SAM W target is located west of the historically mined San Antonio zone within the True North Mine. The SAM W target occurs within the gabbro of the San Antonio mafic unit and the intersection with the Cartwright South mineralized shear zone. The SAM gabbro hosts the majority of the known gold mineralization within the True North Mine and historically produced 1,309,351 ounces Au at an average grade of 9.33 g/t Au from San Antonio (see technical report entitled ‘NI 43-101 Technical Report on the True North Gold Project, Bissett, Manitoba, Canada, dated December 23. 2024). 

Annex Target

The Annex target is located 300 m east of the Cartwright Zone and 1 kilometre (‘km‘) northwest of the Hinge deposit, and was first intersected in a 2012 and 2013 surface exploration drilling program. The target is located at the intersection of the Cartwright South shear zone with a dacitic volcanoclastic unit, potentially the northwest extension of the host unit of the Hinge deposit, and covers an area with a 120 m east-west strike length by 160 m vertically, and is open both along strike and at depth. Additional interpretation is ongoing to model the extent of the mineralized zone to assess up-side potential.

*Historic drill holes referenced on Table 4 and 5 below

Next Steps

With the latest phase of surface drilling within the mine lease completed in late September, the Company has shifted its focus to an expanded underground drill campaign within the True North Mine footprint. Two (2) underground drill rigs are currently active on Level 16, an area that provides multiple favourable drill stations and immediate access to high-priority targets. Underground drilling is designed to continue testing the down-dip extensions of the SAM W,  SAM SE and Shore discoveries, as well as evaluating several newly defined exploration targets (see press release dated September 25, 2025). The program will also include delineation drilling of two test mining areas accessible from Level 16 and  drill testing the extensions of the current resource.

Rehabilitation work will also commence in two key areas over the coming months: the L13 deposit area, accessed by a ramp from the Hinge decline, and Level 6, a previously unsurveyed level located 262 m below surface, extending northwest from the A Shaft of the historical San Antonio workings. The L13 area will provide improved access to drill the down-dip extensions of the SAM SE target, while rehabilitation on Level 6 will support continued drilling of the SAM W target and potential drilling of the Cartwright Zone to the west, an area hosting a mineral resource open-at-depth. Additional surface drilling is currently being planned to continue testing the SAM W and Shore targets over the winter.

Concurrently, the Company is advancing permitting for a 2,200 m surface drill program at Ogama-Rockland, a near-surface target with a high-grade NI 43-101 mineral resource, located 35 km southeast of the True North complex (see Technical Report dated November 15, 2013, ‘A Technical Review of the Ogama-Rockland Deposit on the Rice Lake Property, Manitoba, Canada,’ prepared by Watts, Griffis and McOuat). The Company expects to receive approval to commence drilling in the coming weeks, which would allow the program to begin before year-end.

Table 2: True North; Select Drill Hole Assays

Target Area

(name)

Drill Hole

(number)

  From

     (m)

    To

    (m)

Interval

(m)

Au

(g/t)

Annex

TN-25-061

247.30

247.80

0.50

10.00

249.00

250.00

1.00

0.59

250.00

251.00

1.00

4.23

251.00

253.60

2.60

1.84

261.60

262.20

0.60

0.55

288.70

289.20

0.50

1.35

293.70

296.30

2.60

8.75

Including

295.30

296.30

1.00

18.00

297.00

297.50

0.50

0.51

300.20

300.70

0.50

0.71

301.90

303.00

1.10

0.65

Annex

TN-25-064

260.30

264.00

3.70

1.02

271.60

274.70

3.10

2.94

Including

273.70

274.70

1.00

6.71

311.30

312.40

1.10

0.66

315.50

317.30

1.80

0.96

483.90

485.90

2.00

1.08

487.00

488.00

1.00

1.93

SAM West

TN-25-064

490.00

492.60

2.60

24.83

Including

490.00

491.00

1.00

46.00

Including

490.00

490.50

0.50

63.20

and

490.50

491.00

0.50

28.80

and

492.10

492.60

0.50

32.40

492.60

496.50

3.90

0.64

Annex

TN-25-067

272.50

275.00

2.50

5.23

Including

273.00

275.00

2.00

5.76

Including

273.00

273.50

0.50

6.43

and

273.50

274.00

0.50

6.79

and

274.50

275.00

0.50

9.18

275.50

276.00

0.50

1.19

285.10

286.60

1.50

2.01

446.60

447.50

0.90

0.62

SAM West

TN-25-067

467.60

473.40

5.80

4.04

Including

467.60

468.10

0.50

23.90

and

472.90

473.40

0.50

6.12

474.30

474.80

0.50

0.59

481.90

484.50

2.60

0.81

497.20

497.70

0.50

4.88

265.10

265.60

0.50

1.03

Annex

TN-25-071

274.10

274.60

0.50

2.89

277.70

279.00

1.30

0.63

307.60

309.00

1.40

6.73

Including

307.60

308.50

0.90

7.47

313.70

314.30

0.60

2.34

317.90

318.50

0.60

3.88

318.50

319.90

1.40

1.42

322.00

322.50

0.50

5.01

322.50

323.60

1.10

1.17

328.30

328.80

0.50

1.93

406.30

407.00

0.70

0.54

466.50

467.40

0.90

2.24

469.10

470.10

1.00

0.51

473.00

473.50

0.50

0.59

SAM West

TN-25-071

473.50

474.30

0.80

12.80

475.30

476.80

1.50

0.77

*Composites above 0.5 g/t Au and metal factor above 0.5 Au ‘gxm’

 

Table 3: True North Drill Hole Details  (UTM NAD83 Zone 15)

Drill Hole
(Number)

Target  

(Name)

Northing*
(m)

Easting*
(m)

Elevation
(masl)

Azimuth
(°)

Inclination
(°)

Depth
(m)

TN-25-061

SAM West

5656302

312170

266

243

-56

311

TN-25-064

SAM West

5656307

312180

266

229

-71

509

TN-25-067

SAM West

5656308

312182

266

206

-58

516

TN-25-071A

SAM West

5656309

312179

266

249

-62

30

TN-25-071

SAM West

5656309

312180

266

249

-62

501

 

Table 4: Historic Drill Hole Details (UTM NAD83 Zone 15)

Drill Hole
(Number)

Northing*
(m)

Easting*
(m)

Elevation
(masl)

Azimuth
(°)

Inclination
(°)

Depth
(m)

CW-06-064

311685

5656239

261

172

-60

310

CW-06-069

311630

5655977

259

158

-50

182

CW-06-071

311630

5655977

259

167

-70

200

CW-06-073

311630

5655977

259

101

-50

215

GAB-28-014

311611

5655937

258

220

-45

20

GAB-36-005

311620

5655955

258

220

-60

53

GAB-60-012

311631

5655918

258

220

-65

65

GAB-6-010

311585

5655955

258

220

-50

66

GAB-7-007

311543

5656062

258

220

-50

115

UR-12-005

312153

5656301

266

240

-55

520

 

Table 5: Historic Drill Holes – Select Significant Drill Hole Assay Results*

Drill Hole

(number)

From

(m)

To

(m)

Composite
Interval

(m)

Au

(g/t)

CW-06-064

282.61

283.92

1.31

6.86

CW-06-069

73.67

77.05

3.38

7.93

CW-06-071

72.54

74.16

1.62

3.54

CW-06-073

192.33

194.28

1.95

4.05

GAB-6-010

10.67

11.46

0.79

10.97

GAB-7-007

104.55

105.55

1.01

28.11

GAB-28-014

16.46

18.20

1.74

6.54

GAB-36-005

46.33

49.41

3.08

9.80

GAB-60-012

45.35

46.33

0.98

8.91

UR-12-005

456.65

458.18

1.52

2.72

CW-06-064

282.61

283.92

1.31

6.86

* Refer to Technical Report dated December 23, 2024 entitled ‘NI 43-101 Technical Report on the True North Gold Project, Bissett, Manitoba, Canada’

Qualified Person Statement

The scientific and technical information in this news release has been reviewed and approved by Mr. Michele Della Libera, P.Geo, Vice-President Exploration of 1911 Gold Corporation, who is a ‘Qualified Person’ as defined under NI 43-101.

Quality Assurance/Quality Controls (QA/QC)

Core samples are collected by sawing the drill core in half along the axis, with one-half sampled, placed in plastic sample bags, labelled, sealed and the other half retained for future reference. Batches are shipped to Activation Laboratories Ltd. (Actlabs), in Thunder Bay, Ontario for sample preparation and analysis. Samples are dried, crushed to 2mm and a 1 kg split is pulverized to -200 mesh. Gold analysis is completed by fire-assay with an atomic absorption finish on 50 grams of prepared pulp. Samples returning values equal or greater to 10.00 g/t are reanalysed by fire assay with a gravimetric finish. Total gold analysis (Screen Metallic Sieve) is conducted on highly mineralized samples or the presence of visible gold. Certified gold reference material samples are inserted every 20 samples and blank samples at intervals of one in every 50 samples, with additional blanks inserted after samples hosting visible gold. Repeat third-party gold analyses for 5% of all submitted sample pulps are analyzed at ALS-Chemex Laboratory, North Vancouver, Canada.

About 1911 Gold Corporation

1911 Gold is a junior explorer that holds a highly prospective, consolidated land package totaling more than 61,647 hectares within and adjacent to the Archean Rice Lake greenstone belt in Manitoba, and also owns the True North mine and mill complex at Bissett, Manitoba. 1911 Gold believes its land package is a prime exploration opportunity, with the potential to develop a mining district centred on the True North complex. The Company also owns the Apex project near Snow Lake, Manitoba and the Denton-Keefer project near Timmins, Ontario, and intends to focus on organic growth and accretive acquisition opportunities in North America.

1911 Gold’s True North complex and the exploration land package are located within and among the First Nation communities of the Hollow Water First Nation and the Black River First Nation. 1911 Gold looks forward to maintaining open, cooperative, and respectful communications with all of our local communities and stakeholders to foster mutually beneficial working relationships.

ON BEHALF OF THE BOARD OF DIRECTORS

Shaun Heinrichs
President and CEO

www.1911gold.com 

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This news release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as ‘plans’, ‘expects’ or ‘does not expect’, ‘is expected’, ‘budget’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’ or ‘does not anticipate’, or ‘believes’, or describes a ‘goal’, or variation of such words and phrases or state that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved.

All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, the Company’s current business plans, including the underground drill program, and the timing and results thereof; development programs and the planned test mining program, leading towards a potential mine restart in 2027; the deployment of surface drills, and the receipt of permits to commence drilling at Ogama-Rockland, and the timing and results thereof; and generally, the plans, operations and prospects of the Company, are forward-looking statements. Although 1911 Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

All forward-looking statements contained in this news release are given as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.

Neither 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.

SOURCE 1911 Gold Corporation

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SAGA Metals Commences Drilling Campaign to Advance Mineral Resource Estimate at Radar Project in Labrador

Investing 9 Mins Read

Saga Metals Corp. (‘SAGA’ or the ‘Company’) (TSXV: SAGA,OTC:SAGMF) (OTCQB: SAGMF) (FSE: 20H) a North American exploration company advancing critical mineral discoveries, is pleased to announce the commencement of Phase 1 diamond drilling at the high-priority Trapper Zone on its 100%-owned Radar Titanium-Vanadium-Iron (‘Ti-V-Fe’) Project located near Cartwright, Labrador. This marks a significant milestone in advancing the Trapper Zone toward a maiden indicated Mineral Resource Estimate (‘MRE’), building on the successful maiden drill program completed earlier this year at the adjacent Hawkeye Zone.

Highlights

  • Drilling Underway : Phase 1 of the 2025-2026 program has officially begun with the first hole spudded with a Duralite 800 diamond drill, targeting the main oxide layer along the 3.3 km continuous magnetic anomaly identified through regional aeromagnetic surveys and ground geophysical follow-up.
  • Program Scope : Up to 15,000 metres of NQ-diameter diamond drilling planned across approximately 25-30 holes, with an average depth of 250-300 metres per hole, focused on delineating the rhythmic oxide layering of vanadiferous titanomagnetite (‘VTM’) mineralization along the Trapper Zone’s strike length.
  • Proven Contractor : Gladiator Drilling Inc., the same experienced team that successfully executed SAGA’s 2025 maiden program at the Hawkeye Zone—intersecting notable TiO₂, V 2 O 5 and Fe₂O₃ grades—has been retained to ensure efficient operations for this robust program.
  • Target Generation : Drill targets refined from integrated geophysical surveys; (magnetic & VLF), geochemical soil and rock sampling, and structural mapping data, highlighting a thick VTM layer running through the zone with potential for high-grade titanium, vanadium, and iron endowments comparable to global analogs like China’s Panzhihua deposit.
  • Strategic Focus : Initial holes will test both North and South sections of the Trapper Zone to constrain grade, width, and structural continuity, informing a maiden MRE expected in H2 2026 and supporting preliminary metallurgical test work.

Figure 1: Gladiator Drilling’s Duralite 800 diamond drill shack setup in the Trapper Zone at the Radar Project.

Drill Program Details

Drilling at Trapper will employ oriented NQ core (47.6 mm diameter) to capture detailed structural data, including specialized survey tools from IMDEX to collect structural geology information. The program prioritizes 100-meter spaced section drilling across the high magnetic anomalies from the 2025 summer field program.

Trapper Zone Hole 1 (Azimuth 38°, Dip -45°) : Initial 250-meter hole testing the central oxide layer concentrated through the nose of the fold in the northern section of the Trapper zone.

  • Subsequent Holes : Section drilling will expand section across and along strike in Trapper North before moving to Trapper South; where Saga will target a wide drill section across the multi magnetic linear trends as expressed by magnetics.
  • Phased Approach: Phase 1 (1,500-2,500 meters) focuses on at least two definitive sections; one in Trapper North and the other in Trapper South before winter break, with Phase 2 resuming in Q1 2026 to cover the full extent.

All cores will assay for major element oxides by lithium metaborate–tetraborate fusion followed by X-ray fluorescence spectrometry (LiBO₂–Li₂B₄O₇ fusion–XRF finish) to better test the distribution of vanadiferous titanomagnetite and ilmenite.

Figure 2: Radar Project, Trapper Zone: shown is a 3+ km Total Magnetic Intensity (TMI) anomaly from the 2025 ground survey and the inferred oxide layering trend. The Trapper Trail (in black) will be the target of the planned 15,000 m diamond drilling program aimed at establishing Saga’s maiden mineral resource estimation.

Drill Program Objectives:

The Phase 1 Trapper Zone drill campaign will target:

  • Grade continuity across a 3 km strike length.
  • Oxide layering widths and continuity to true depths of about 200 metres.
  • Integration of structural insights from trenching and drilling into collar orientation and drill design.
  • Initial drilling of 1,500-2,500 m in 6-10 holes, each about 250 m in depth will be completed before the December break.
  • Test both the North and South sections of the Trapper zone prior to the break in order to fully grasp grade, width and structure prior to initiating the detailed grid and drill sections in 2026 for the purposes of a mineral resource estimate.
  • Drilling will be complemented by metallurgical sampling through the winter, with core from both the Hawkeye and Trapper zones undergoing detailed metallurgical testing.

Figure 3: Radar Project’s prospective oxide layering zone extends for an inferred 20 km strike length, as shown on a compilation of historical airborne geophysics as well as ground-based geophysics in the Hawkeye and Trapper zones completed by SAGA in the 2024/2025 field programs. SAGA has demonstrated the reliability of the regional airborne magnetic surveys after ground-truthing and drilling in the 2024 and 2025 field programs .

The Radar Property spans 24,175 hectares and hosts the entire Dykes River intrusive complex (~160 km²), a unique position among Western explorers. Geological mapping, geophysics, and trenching have already confirmed oxide layering across more than 20 km of strike length, with mineralization open for expansion.

Vanadiferous titanomagnetite (‘VTM’) mineralization at Radar is comparable to global Fe–Ti–V systems such as Panzhihua (China), Bushveld (South Africa), and Tellnes (Norway), positioning the Project as a potential strategic future supplier of titanium, vanadium, and iron to North American markets.

‘There is a resounding positive energy flowing through the team, as the geologist, technicians and drillers have all worked tirelessly to commence drilling today. Leveraging the proven success of our Hawkeye program and Gladiator’s expertise, everyone on site knows the significance and the potential to unlock this incredible VTM opportunity,’ commented Michael Garagan, CGO & Director of Saga Metals. ‘The 3.3 km magnetic anomaly at Trapper mirrors the scale and geology of major deposits worldwide, and with critical minerals demand surging amid green energy transitions and domestic supply security rises—this program positions SAGA to deliver transformative results. Our systematic approach, from expert target refinement to integrated geophysics, has de-risked the zone for rapid resource definition and positions us for partnerships in Labrador’s mining renaissance.’

Figure 4: SAGA’s geologist, Dylan McKeen, reviewing core from the Radar Project’s Hawkeye zone drilled earlier in 2025 as Gladiator’s begins drilling core from the Trapper zone.

Qualified Person

Paul J. McGuigan, P. Geo., is an Independent Qualified Person as defined under National Instrument 43-101 and has reviewed and approved the technical information disclosed in this news release.

About Saga Metals Corp.

Saga Metals Corp. is a North American mining company focused on the exploration and discovery of a diversified suite of critical minerals that support the North American transition to supply security. The Radar Titanium Project comprises 24,175 hectares and entirely encloses the Dykes River intrusive complex, mapped at 160 km² on the surface near Cartwright, Labrador. Exploration to date, including a 2,200m drill program, has confirmed a large and mineralized layered mafic intrusion hosting vanadiferous titanomagnetite (VTM) with strong grades of titanium and vanadium.

The Double Mer Uranium Project, also in Labrador, covers 25,600 hectares featuring uranium radiometrics that highlight an 18km east-west trend, with a confirmed 14km section producing samples as high as 0.428% U 3 O 8 and uranium uranophane was identified in several areas of highest radiometric response (2024 Double Mer Technical Report).

Additionally, SAGA owns the Legacy Lithium Property in Quebec’s Eeyou Istchee James Bay region. This project, developed in partnership with Rio Tinto, has been expanded through the acquisition of the Amirault Lithium Project. Together, these properties cover 65,849 hectares and share significant geological continuity with other major players in the area, including Rio Tinto, Winsome Resources, Azimut Exploration, and Loyal Metals.

With a portfolio that spans key commodities crucial for the clean energy future, SAGA is strategically positioned to play an essential role in critical mineral security.

On Behalf of the Board of Directors

Mike Stier, Chief Executive Officer

For more information, contact:

Rob Guzman, Investor Relations
Saga Metals Corp.
Tel: +1 (844) 724-2638
Email: rob@sagametals.com
www.sagametals.com

Neither the TSX Venture Exchange nor its Regulation Service 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 Disclaimer

This news release contains forward-looking statements within the meaning of applicable securities laws that are not historical facts. Forward-looking statements are often identified by terms such as ‘will’, ‘may’, ‘should’, ‘anticipates’, ‘expects’, ‘believes’, and similar expressions or the negative of these words or other comparable terminology. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. In particular, this news release contains forward-looking information pertaining to the exploration of the Company’s Radar Project. 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. Important factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage, inherent risks and uncertainties involved in the mineral exploration and development industry, particularly given the early-stage nature of the Company’s assets, and the risks detailed in the Company’s continuous disclosure filings with securities regulations from time to time, available under its SEDAR+ profile at www.sedarplus.ca. 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. 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 of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by applicable law.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/7e93e4c5-6326-4dc5-9d54-eea80b537eed

https://www.globenewswire.com/NewsRoom/AttachmentNg/10dd4552-e987-4d15-93eb-d2400ea4ae6e

https://www.globenewswire.com/NewsRoom/AttachmentNg/1ccd1e03-ac41-4e72-acf9-a6b6e1ef87b7

https://www.globenewswire.com/NewsRoom/AttachmentNg/8b631fa1-e6a1-4119-8b96-6c6ec185e9f3

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China Grants Conditional Approval to Codelco-SQM Lithium Joint Venture

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Chile’s state-owned copper giant Corporación Nacional Del Cobre de Chile (Codelco) and local lithium producer Sociedad Quimica y Minera (SQM) (NYSE:SQM) cleared the final major hurdle for a long-planned partnership after China’s antitrust regulator granted conditional approval to the venture.

The green light allows the joint venture to move forward, pending formal authorization from Chile’s comptroller, which is widely expected by year-end.

The joint venture will operate in Chile’s Salar de Atacama, one of the richest lithium brine sources globally, to provide critical components for electric vehicles and battery storage.

China’s State Administration for Market Regulation said in a statement that Codelco and SQM must continue supplying Chinese customers on “fair, reasonable and non-discriminatory” terms, honoring existing commitments.

The regulator also required the companies to avoid sharing sensitive information with competitors and to follow specified corporate governance practices.

“In the event of a major supply change, both sides should make reasonable and best efforts to continue the supply of lithium carbonate products to Chinese customers … they should not turn down, restrict or delay supply to Chinese clients,” the statement added. Details of the conditions were kept confidential.

The joint venture will operate in two phases. SQM will oversee management through 2030, after which Codelco will take control for the remaining 30 years.

Codelco will contribute a production quota of up to 300,000 metric tons to the venture, while current output remains below 200,000 metric tons. Production gains are expected to come from technological improvements and efficiency measures rather than expanded brine extraction.

Analysts say the partnership could provide greater supply certainty to battery makers, even as lithium prices remain more than 80 percent below their late-2022 peak amid a global surplus.

Chile’s Economy Minister Álvaro Garcia said in August that he expected the deal to close before the current administration leaves office in 2026.

Multiple international regulators, including those in the European Union, Brazil, Japan, South Korea and Saudi Arabia, have already signed off.

For China, securing supply from Chile remains critical. The antitrust conditions reflect Beijing’s interest in maintaining steady imports while preventing the venture from disrupting market prices.

Currently, China is the world’s largest battery metal consumer and a major buyer of Chilean lithium.

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

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Trump’s Fed Feud: Fears Over Fed Independence Benefit Gold

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Uncertainty over the autonomy of the Federal Reserve under US President Trump echoes historical executive overreach, and is boosting gold’s safe-haven appeal.

In its annual Precious Metals Investment Focus report, published on October 25, Metals Focus highlighted a number of factors amplifying gold’s safe haven appeal and driving prices above US$4,000 per ounce.

One of the factors was fears over the independence of the Fed. As the agency tasked with setting the country’s monetary policy, the Fed is coming under increasing political pressure by Trump to lower interest rates.

“Concerns over the Fed’s independence and the challenges concerning US fiscal policy have eroded confidence in the US dollar, while geopolitical risks have also provided support,” stated the firm “These factors have boosted demand for gold for portfolio diversification, with gold’s strong price performance further enhancing its appeal to investors.”

The Fed’s independence has long been a cornerstone of US monetary policy. Its purview includes managing the country’s money supply, setting interest rates as well as buying and selling of US Treasury securities on the open market.

In order to protect both democracy and the integrity of the capital market system from political pressures, the Fed must be free to conduct these operations independently from the president or Congress.

Trump spars with Powell over interest rates

Trump appointed Powell as Fed chair during his first presidential term, but nevertheless took to Twitter in August 2019 to ask, “who is our bigger enemy, Jay Powell or Chairman Xi?”

The statement came after Powell made comments at an annual conference in Jackson Hole, Wyoming, suggesting Trump’s trade policies vis-à-vis China were weighing on economic growth.

More recently, in April of this year, the president blasted Powell for keeping interest rates unchanged: ‘The Fed really owes it to the American people to get interest rates down, that’s the only thing he’s good for.”

While the Fed has cut rates twice this year, it only amounts to 50 basis points, with rates now in a range of 3.75 to 4 percent. Powell has publicly balked at the idea of making deeper cuts — further stoking Trump’s ire.

Following the first rate cut in September, a Politico reporter asked Powell what may signal to Americans that the Fed is no longer acting nonpartisanly. “We don’t frame these questions at all or see them in terms of political outcomes. In another part of Washington, everything is seen through the lens of does it help or hurt this political party, this politicians,” Powell said. “That’s the framework. People find it hard to believe that’s not at all the way we think about things at the Fed. We take a longer perspective, we’re trying to serve the American people as best as we can.”

What history tells us about political pressure, the Fed and stagflation

“There’s no secret as to the president’s feelings towards Chairman Powell. Trump wants lower interest rates and a more accommodative Fed, and has been very vocal in saying that, to the extent that everyone is now saying Fed independence is at risk. And look, it might be, but it’s not like we haven’t been here before,” he said.

A prime example, said Rozencwajg, occurred alongside the Vietnam War in the mid-1960s. President Lyndon B. Johnson bullied Fed Chair William Martin (the longest tenured Fed chair and a man whose father helped draft the Federal Reserve Act) into keeping interest rates low to help the government fund not only the Vietnam War but also social welfare programs at home without the need to upset the voting public with tax hikes.

When Martin didn’t get on board with Lyndon’s “guns and butter” economic policies, the then-president reportedly threatened to replace Martin as Fed chair, cut the Fed’s budget and suffocate it with audits.

At first stalwart in his fight to preserve the value of the dollar, Martin eventually capitulated by delaying further hikes before eventually cutting rates and keeping them low. In doing so, he planted the seed for what’s now called the “Great Inflation.” Between 1965 and 1980, the annual average US inflation rate rose from 1.6 percent to a peak of 13.5 percent.

Lyndon’s successor Richard Nixon is another prime example of a US president bullying the Fed to lower rates in order to advance politically with disastrous consequences.

This time the Fed chair was Arthur Burns, another believer in the importance of Fed independence. However, Nixon felt Burns owed him a debt of loyalty for making him an economic advisor and later appointing him as Fed chair. Heading into the 1972 election season, Nixon wanted Burns to lower rates in order to juice the economy in the short-term.

“I respect Burns’s independence. But I hope that independently he will conclude that my views are the ones that should be followed,” said Nixon, who also used US Treasury Security John Connally to further put the squeeze on Burns.

Like Martin, he would eventually cave by slashing rates and expanding the money supply far above the Fed’s stated targets. This led to what’s known as the “Nixon Shock,” which brought about the collapse of the Bretton Woods system of fixed exchange rates and ended the convertibility of US dollars into gold.

This resulted in the devaluation of the US dollar and ultimately sank the economy deeper into the Great Inflation to the point that stagflation (inflation + no economic growth) took hold.

“(Arthur Burns) had a tough job and was under a huge amount of pressure, and was a very astute economist and Fed chairman,” said Rozencwajg. “But nevertheless, he probably wins the award for the worst Fed chairman in history, just because he was there and it all happened under his watch.”

Once decoupled from the dollar, the price of gold surged from the decades-long fixed price of US$35 per ounce under the Bretton Woods system to more than US$600 by the spring of 1980. The gold price would manage to retain that level for much of the year before starting a downward slide to half that value by mid-1982. The yellow metal would not achieve that high again until the spring of 2006 on renewed inflationary fears and a weaker US dollar.

To tame the inflation beast of the 1970s, Fed Chair Paul Volcker (serving from 1979 to 1987) had to raise interest rates to 20 percent. While his plan, known as the “Volker Shock,” did eventually curb inflation down to 3 percent by 1983, it also brought about two recessions and unemployment over 10 percent.

Trump to replace Powell with political loyalist

A modern day example of the executive branch threatening the independence of the Fed is now playing out for us to watch in real time. Today, the players are Trump and Powell. This time, the president is pushing the Fed chair to lower rates at a faster pace in order to support his tariff-based economic policies as the threat of stagflation looms.

Powell’s comments following the 0.25 percent rate cut on October 29 show he isn’t likely to play ball. “In the committee’s discussions at this meeting, there were strongly differing views about how to proceed in December,” he said. “A further reduction in the policy rate at the December meeting is not a foregone conclusion. Far from it.”

Rozencwajg believes Powell wants to be remembered in the same vein as Volcker, not as Burns. “But there’s a third option, which I don’t think anyone’s really considered, which is that he’ll go down as Martin, the guy who tried his best and ultimately was pressured out and whose views were then completely undone in the chairmanship after,” he added.

By the end of this year, Trump intends to announce a replacement for Powell, whose term expires in May 2026. Echoing LBJ and Nixon’s threats to the Fed, Trump exclaimed at a business leaders dinner in Tokyo in October, “We have an incompetent head of the Fed … but he’ll be out of there in a few months, and we’ll get somebody new’.

US Secretary of the Treasury Scott Bessent has announced a shortlist of candidates to take the stop spot, including Fed Governors Christopher Waller and Michelle Bowman, National Economic Council Director Kevin Hassett, former Fed Governor Kevin Warsh and BlackRock (NYSE:BLK) executive Rick Rieder.

“In the 1970s they didn’t believe that the money supply was responsible for higher prices in the economy, and the current Fed doesn’t believe that their own policies of printing money are responsible for increased prices,” he said. “There were some very dovish people appointed to the Fed in the 1970s who allowed politicians to strong arm them into dovish low interest rate policies … President Obama, President Biden and now President Trump are loading up the Federal Reserve with monetary doves who will cut interest rates and expand the money supply at the drop of a hat.”

Regardless, Powell’s days at the Fed are numbered. “President Trump’s going to replace him with another dove, who’s going to be even more aggressive with monetary policy,” said Thornton.

Both Thornton and Rozencwajg believe the bull market for gold has much further to go. With another dove at the helm of the Fed, lower interest rates are on the horizon. Lower interest rates make gold a much more attractive investment option than yield-bearing assets. The promise of higher inflation and continued economic uncertainty will also likely continue incentivizing both investors and central banks to pile into safe-haven gold.

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

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Torchlight Innovations Inc. Announces Name Change to RZOLV Technologies Inc

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Torchlight Innovations Inc. (TSXV: RZL) (the ‘Company’), is pleased to announce that the Company has changed its name from ‘Torchlight Innovations Inc.’ to ‘Rzolv Technologies Inc.’ (the ‘Name Change’). The Name Change was approved by the Company’s board of directors on November 3, 2025. The Company’s common shares (the ‘Common Shares’) will commence trading under its new name on the TSX Venture Exchange (the ‘TSXV’) at market open on November 12, 2025 (the ‘Effective Date’).

In connection with the Name Change, the following new CUSIP (76091C103) and ISIN (CA76091C1032) numbers have been assigned to the Common Shares. No action is required to be taken by shareholders with respect to the name change. Outstanding common share and warrant certificates bearing the old name of the Company are still valid and are not affected by the Name Change.

About Rzolv Technologies Inc.

Rzolv Technologies Inc. is a clean-tech company with an innovative technology that aims to transform the gold mining industry. The Company has developed RZOLV, a proprietary, non-toxic hydrometallurgical formula for gold extraction. The formula offers a sustainable, safe, and water-based alternative to cyanide.

While cyanide has been the industry standard for over a century, its toxic nature has led to bans in several countries and costly permitting challenges for mining companies. RZOLV offers similar cost and performance metrics as cyanide, but with a non-toxic, reusable and sustainable profile. The Company is currently focused on validating its technology through a 100-tonne industrial test, after which full commercialization efforts will begin.

Rzolv Technologies Inc. has safeguarded RZOLV by filing an international patent and possessing a robust portfolio of trade secrets, facility security, chemical obfuscation, and stringent employment confidentiality agreements ensuring long-term competitive advantages. The intellectual property framework includes protection for its chemical formulation, regeneration processes, and specific applications in heap leaching, vat leaching, and concentrate processing.

Cautionary Note

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

For further information, please contact: 

Duane Nelson
Email: duane@rzolv.com
Phone: 604-512-8118

Cautionary Note Regarding Forward-Looking Statements

This news release contains statements that constitute ‘forward-looking statements.’ Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects,’ ‘plans,’ ‘anticipates,’ ‘believes,’ ‘intends,’ ‘estimates,’ ‘projects,’ ‘potential’ and similar expressions, or that events or conditions ‘will,’ ‘would,’ ‘may,’ ‘could’ or ‘should’ occur. Forward-looking statements in this news release include, among others, statements relating to the Effective Date that the Common Shares will commence trading under the Company’s new name on the TSXV.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Common Shares will not commence trading under Company’s new name on the TSXV on the Effective Date.

The forward-looking information in this news release is based on management’s reasonable expectations and assumptions as of the date of this news release. Certain material assumptions regarding such forward-looking statements were made, including without limitation, assumptions regarding: the Common Shares will commence trading under the Company’s new name on the TSXV on the Effective Date.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. There can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273830

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Perpetua Resources Secures US$255 Million Investment to Advance Idaho Project

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Perpetua Resources (TSX:PPTA,NASDAQ:PPTA) announced a US$255 million strategic equity investment from Agnico Eagle Mines (TSX:AEM,NYSE:AEM) and JPMorganChase to accelerate development of its Stibnite gold project in central Idaho.

Under the private placement, Agnico Eagle will invest US$180 million in Perpetua common shares and receive warrants to purchase up to 2,861,229 additional shares at 35, 50, and 65 percent premiums over the next one, two, and three years respectively.

The Canadian gold producer will also collaborate with Perpetua to form a joint technical and exploration advisory committee, leveraging its decades of mining experience to support the project’s development.

“The Stibnite gold project is an excellent opportunity in a premier mining jurisdiction,” said Ammar Al-Joundi, President and CEO of Agnico Eagle. “Our investment in Perpetua aligns with Agnico Eagle’s commitment to disciplined and strategic investments through emerging and high-quality opportunities and provides measured exposure to one of the highest-grade open-pit gold deposits in the United States, with significant exploration upside.”

Meanwhile, JPMorganChase will contribute US$75 million through its US$1.5 trillion Security and Resiliency Initiative, a 10-year effort aimed at financing industries critical to US economic security and resiliency. This marks the initiative’s inaugural investment.

The bank will also acquire 3,218,884 common shares and receive warrants to purchase additional shares under the same pricing schedule as Agnico Eagle, bringing its potential stake to 2.7 percent of the company.

“Investments from two leading, world-class institutions strengthens our capital position, reduces financing risk, and accelerates the development of one of the nation’s most strategic resource projects,” said Jon Cherry, President and CEO of Perpetua Resources

Perpetua plans to use the proceeds, along with existing cash and anticipated project financing of up to US$2 billion from the Export-Import Bank of the United States, to fund the projects’s further development and exploration.

The company broke ground on Stibnite just days before announcing the investment. The Stibnite project is positioned as one of the highest-grade gold operations in the US, while also producing antimony, a critical mineral with industrial and defense applications.

The project aims to restore portions of a previously abandoned mine while also addressing historical environmental impacts.

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

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Laguna Verde Resource Increase Based on Recent Licence Acquisition

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CleanTech Lithium PLC (‘CleanTech Lithium’ or ‘CleanTech’ or the ‘Company’) (AIM: CTL, Frankfurt:T2N), an exploration and development company advancing sustainable lithium projects in Chile, announces an updated resource estimate for its Laguna Verde project following the recent acquisition of additional licences at the project. Laguna Verde is one of the six salars selected by the Chilean Government to be prioritised for development by private companies.

Highlights:

  • The mineral resource estimate is updated from that reported on 20 Jan 2025, based on the recent acquisition of additional licences at the project, as reported to the market on 11 Aug 2025
  • The updated total resource is 1.9 million tonnes of Lithium Carbonate Equivalent (LCE), at a grade of 174 mg/L lithium, a 17% increase from the previous total resource of 1.63 million tonnes of LCE
  • 0.84 million tonnes of LCE is in the Measured + Indicated category at a grade of 178 mg/L lithium
  • The additional licences were acquired to meet the Government’s licence area requirement for entering the streamlined process for a Special Lithium Operating Contract (CEOL)
  • The Chilean government is finalising the indigenous community consultations for Laguna Verde and it is expected that the streamlined process will be announced shortly afterwards
  • The JORC (2012) compliant estimate was calculated by Montgomery & Associates (‘Montgomery´’ or ‘M&A’), a leading hydrogeological consultant highly experienced in lithium brine resource estimation
  • The resource estimate is based on three years of annual exploration programmes completed by CTL from 2022 – 2024 including drill progammes, pump test programmes and geophysics surveys
  • Montgomery recommends three additional drillholes in the southwest, north and northeast to potentially increase the resource

Ignacio Mehech, Chief Executive Officer, CleanTech Lithium said: ‘The updated JORC-compliant resource estimate for the Laguna Verde project, independently determined by Montgomery & Associates, confirms a robust and significant resource of 1.9 million tonnes of Lithium Carbonate Equivalent (LCE) at an average grade of 174 mg/l lithium, with 0.84 million tonnes in the Measured and Indicated category. The resource estimate is an important element of the project´s Pre-Feasibility Study which is advancing to completion. This positions Laguna Verde as a leading direct lithium extraction (DLE) based project in Chile’s lithium sector and as a future producer for the global EV and battery market.’

Further Details:

Background to Updated Resource Estimate

The previous total resource estimate declared for Laguna Verde of 1.63 million tonnes LCE was based on the CEOL polygon proposed by the Company. Of this total resource estimate, 1.21 million tonnes LCE was based on the Company´s preferential licence area within that polygon, and 0.42 million tonnes LCE was classified as provisional based on the total proposed CEOL area. In August 2025 the Company acquired an additional 30 licences from Minergy Chile SpA, with the primary objective of increasing the preferential licence position within the Government defined CEOL polygon as shown Figures 1 and 2. The acquisition increased the Company´s preferential licence position within the Government’s defined polygon to 97.6% of the area, exceeding a threshold of 80% required by the Government for consideration to enter a streamlined CEOL process for Laguna Verde. The updated resource estimate of 1.9 million tonnes LCE is based on the enlarged preferential licence area in Figure 2.

Fig 1: Previous Preferential Licence Extent & Govt. CEOL Polygon

Fig. 2: Post Acquisition Preferential Licence Extent

The resource estimate is based on annual exploration programmes completed by the Company between 2022 – 2024, in which rotary and diamond drill programmes were completed as shown in Figure 3. Additional observation wells were drilled to support observations during pump tests. Three additional diamond drillholes in the southwest, north, and northeast are recommended to potentially further expand the resource volume (LV08, LV09, and LV10).

Fig 3: Existing and Recommended Exploration Wells at Laguna Verde

Resource Summary

The technical report has been prepared by Montgomery to conform to the regulatory requirements of the JORC Code (2012). Mineral Resources are also reported in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Best Practice Guidelines (CIM, 2012). The breakdown of the resource categories comprising the total resource is provided in Table 1 below.

Mineral resources are not mineral reserves and do not have demonstrated economic viability. Furthermore, not all mineral resources can be converted into mineral reserves after application of the modifying factors, which include but are not limited to mining, processing, economic, and environmental factors.

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Lunar Mining Set to Favor Established Miners Over Startups, Analysts Say

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As humanity edges closer to mining the moon, industry analysts warn that established mining companies, not venture-backed space startups, may dominate the emerging lunar resource sector.

The space mining market, projected to reach US$20 billion by 2035, has attracted significant attention from venture capital and government programs, including NASA’s Artemis initiative.

Permanent lunar operations aim to target resources such as water ice in shadowed craters, regolith for construction, and helium-3 for potential fusion applications.

However, while multiple commercial landers reached the moon in 2025, profitable extraction remains a challenge.

Stirling Forbes, CEO of Forbes-Space, a consultancy advising both space ventures and industrial firms, noted that startups face steep obstacles.

“Space startups excel at getting there. But once you land, the hard part is mining — and that’s where most space companies have zero experience,” he said in a recent article.

Forbes emphasized that deploying and operating the necessary mining equipment requires tens of millions in upfront investment, with years before returns can materialize—conditions under which traditional mining companies thrive, but venture capital often cannot.

Large-scale miners already possess capabilities directly applicable to extraterrestrial operations. Mining giant Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO,OTC:RTPPF), for example, runs autonomous 200-ton haul trucks in Western Australia’s Pilbara region from 1,500 kilometers away, supported by AI-driven drill systems and robotic material handling.

Such operations mirror the challenges lunar mining will present, including remote management, automated extraction, and processing in harsh conditions.

Analysts also point to logistical advantages of the moon over asteroids. The moon is just three days away from Earth, which allows for quicker responses to equipment failures, while near-Earth asteroids require months-long missions.

Additionally, NASA and international partners are actively building power systems, communications networks, and landing infrastructure on the moon, whereas asteroid operations would require establishing everything from scratch.

Lunar resources, such as water ice, also have immediate customers in space programs, converting directly into rocket propellant for Mars and deep-space missions.

For investors and space companies, Forbes advises focusing on partnerships rather than attempting to independently master both space operations and industrial-scale mining.

Traditional mining firms are moving quickly to secure positions in the sector, and early collaborations could define the rules and regulations for decades to come.

“The space mining revolution is coming, but it won’t look like the investment community expects. It will be led by companies that understand both space above and the ground beneath our feet,” he emphasized.

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

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Lobo Tiggre: Copper is My Highest-Confidence 2026 Trade, Uranium is Runner-Up

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Lobo Tiggre, CEO of IndependentSpeculator.com, shares why copper is his highest-confidence trade for 2026, as well as when he will consider buying.

‘I now have probably more cash to put into play than I’ve ever had sitting on the sidelines waiting for this copper buying opportunity,’ he said.

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

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Tech Weekly: Tech Stocks Feel the Heat Amid Valuation Fears

Investing 6 Mins Read

Plus, we break down next week’s market catalysts to watch to help you prepare for the week ahead.

In this article:

    This week’s tech market round-up

    The tech space was marked by heightened volatility this week, with sharp swings driven by concerns over inflated artificial intelligence (AI) valuations and mixed economic data.

    Global markets gained early in the week, driven by optimism over a US-China trade truce, along with a US$38 billion AI cloud deal between OpenAI and Amazon (NASDAQ:AMZN).

    However, gains were tempered following comments from the Global Financial Leaders’ Investment Summit in Hong Kong, where Goldman Sachs (NYSE:GS) CEO David Solomon warned of a likely 10 to 20 percent pullback in equities within the next 12 to 24 months. Other panelists at the event offered similar projections.

    Futures tracking the S&P/TSX Composite Index (INDEXTSI:OSPTX) weakened ahead of the release of Canada’s federal budget, which promises C$925.6 million for sovereign compute capacity, quantum tech funding and support for open banking and stablecoins. The government aims to attract C$500 billion in private sector investment over five years.

    US tech stocks sold off again on Wednesday (November 5) amid uncertainty over the Supreme Court’s tariff ruling and short positions by Michael Burry on NVIDIA (NASDAQ:NVDA) and Palantir Technologies (NASDAQ:PLTR).

    A stronger-than-expected ADP report helped stabilize the tech sector midday, but October jobs data weighed on markets again Thursday (November 6), cooling risk appetite, especially for AI momentum stocks.

    Wall Street’s main indexes extended losses to a second session on Friday (November 7) and posted weekly declines as the Volatility Index (INDEXCBOE:VIX) hit its highest level in a fortnight, just one week after the S&P 500 (INDEXSP:.INX) and Nasdaq Composite (INDEXNASDAQ:.IXIC) notched their longest winning streak in four and seven years, respectively.

    Traders were pricing in a 70.2 percent chance of a 25 basis point interest rate cut from the US Federal Reserve in December at the time of this writing, down from 90 percent last week.

    3 tech stocks moving markets this week

    1. Palantir Technologies (NASDAQ:PLTR)

    Palantir reported a strong Q3 earnings beat with a year-on-year revenue increase of 63 percent to US$1.18 billion, exceeding analyst expectations of US$1.09 billion.

    Earnings per share were also above forecasts, coming in at US$0.21 compared to expectations of US$0.17.

    The company’s total contract value rose to US$2.76 billion, a record high, driven by a 121 percent rise in US commercial revenue and a 52 percent increase in US government revenue.

    The company also raised its full-year 2025 revenue guidance to around US$4.4 billion, driven by continued strong AI demand and government contracts. On the earnings call, management expressed confidence in continued growth fueled by AI, emphasizing strategic partnerships with companies like NVIDIA, while acknowledging challenges in the European market and operational scaling.

    However, Palantir’s share price dropped about 3 percent in after-hours trading. Analysts attributed the market reaction to concerns over the prolonged US government shutdown potentially impacting contracts, alongside a large bearish bet revealed by Michael Burry’s fund.

    The company’s stock is down 14 percent for the week.

    2. Amazon (NASDAQ:AMZN)

    Shares of Amazon rallied on Monday morning after announcing a US$38 billion multi-year partnership with OpenAI to run its advanced AI workloads on Amazon Web Services (AWS) infrastructure, providing access to hundreds of thousands of NVIDIA GPUs and specialized AWS chips.

    The deal significantly strengthens AWS’s position in the AI cloud market. Investors had a marked reaction to the news, driving Amazon’s shares price to a record high of US$US$254.

    However, gains were partially erased during the broader tech sector pullback. Its stock ultimately closed the week down 4.28 percent.

    3. NVIDIA (NASDAQ:NVDA)

    Shares of NVIDIA have been dragged down this week due to valuation concerns and fears related to US export restrictions on advanced AI chips to China.

    During a 60 Minutes interview with Norah O’Donnell on Sunday (November 2) evening that covered a range of topics, President Trump stated NVIDIA’s most advanced AI chips would be reserved exclusively for US companies. The market reacted by sending shares of NVIDIA (up or down?) on Monday morning.

    Also on Monday, Microsoft provided an update on its US$15.2 billion planned investment in the UAE, which will include increasing its AI computing power in the UAE by four times to reach the equivalent of 60,400 NVIDIA A100 GPUs in compute power in the country.

    NVIDIA shares, also boosted by Loop Capital raising its price target by US$100, rose by over four percent from Friday’s closing price in early trading.

    However, a large bearish position against NVIDIA was disclosed from Burry’s fund on Wednesday, adding to downward pressure already on its shares amidst a tech stock sell-off.

    During a Thursday press conference, White House Press Secretary Karoline Leavitt told reporters that Trump “was not interested in selling (the Blackwell chip) to China at this time”.

    Meanwhile, during the Financial Times’ Future of AI Summit, NVIDIA CEO Jensen Huang said the West is being held back by “cynicism” and reportedly told the outlet, “China is going to win the AI race.”

    Huang has previously warned that US restrictions could backfire by accelerating China’s domestic chip development, arguing the US should stay engaged with Chinese developers to maintain leadership. The company’s shares are down 9.53 percent for the week.

    NVIDIA, Palantir and Amazon performance, November 3 to 7, 2025.

    Chart via Google Finance.

    Top tech news of the week

          Tech ETF performance

          Tech exchange-traded funds (ETFs) track baskets of major tech stocks, meaning their performance helps investors gauge the overall performance of different sectors.

          This week, the iShares Semiconductor ETF (NASDAQ:SOXX) declined by 4.81 percent, while the Invesco PHLX Semiconductor ETF (NASDAQ:SOXQ) saw a weekly loss of 5.2 percent.

          The VanEck Semiconductor ETF (NASDAQ:SMH) decreased by 5.41 percent.

          Tech news to watch next week

          Next week, investors will hear earnings results from Cisco Systems (NASDAQ:CSCO), due to report its Q1FY26 earnings on November 12. The company is expected to deliver a year-on-year increase in earnings on higher revenues. Semiconductor equipment supplier, Applied Materials, is also set to report its Q4 earnings on November 13.

          AMD will have its Financial Analyst Day on Tuesday (November 11), providing further strategic updates and outlook.

          Analysts and investors will also be watching for any sign of an end to the 38-day government shutdown after Senate Minority Leader Chuck Schumer (D-NY) unveiled a plan to attach a one year extension to the expiring Obamacare subsidies and to create a bipartisan committee that could negotiate further on how to deal with the subsidies after the government reopened. Majority leader John Thune reportedly told CBS News that the Democratic proposal is a ‘nonstarter’.

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

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