FN Media Group News Commentary – Industry experts project that the global critical minerals market will continue maintaining substantial growth as it has in recent years. The global critical minerals market is experiencing unprecedented growth, primarily driven by the accelerating transition to clean energy technologies. According to the International Energy Agency (IEA), the market size of key energy transition minerals doubled over the past five years, aligning closely with the market size for iron ore mining. This surge is largely attributed to the tripling of lithium demand, a 70% increase in cobalt demand, and a 40% rise in nickel demand between 2017 and 2022, with clean energy applications accounting for significant portions of this demand. The sustainability of the global critical minerals market is increasingly influenced by governmental initiatives aimed at reducing environmental impact and enhancing resource efficiency. A recent report from DataM Intelligence projected that Critical Minerals Market Size reached US$ 328.19 billion in 2024 and is expected to reach US$ 586.63 billion by 2032, growing with a CAGR of 7.53% during the forecast period 2025-2032. The report said: ‘A notable trend in the critical minerals market is the increasing investment in mineral development, which witnessed a 30% rise in 2022 following a 20% increase in 2021. Lithium saw the sharpest investment increase at 50%, followed by copper and nickel. This investment surge is a response to the soaring demand for minerals like lithium, cobalt, nickel, and copper, driven by the deployment of clean energy technologies such as electric vehicles, wind turbines, and solar panels.’ Active companies in the markets this week include: SAGA Metals Corp. (OTCQB: SAGMF) (TSX-V: SAGA), TMC the metals company Inc. (NASDAQ: TMC), Critical Metals Corp. (NASDAQ: CRML), Rio Tinto Group (NYSE: RIO), Empire Metals Limited (OTCQX: EPMLF) (LON: EEE).

DataM Intelligence continued: ‘The rising demand for energy transition technologies, such as electric vehicles (EVs) and renewable energy systems, is significantly driving the critical minerals market. According to the International Energy Agency (IEA), mineral demand for clean energy technologies is projected to nearly quadruple by 2040, reaching close to 40 million tonnes annually. In the scenario, lithium demand is expected to increase ninefold, while copper demand will see the largest absolute growth due to its essential role in electrification. Currently, clean energy applications account for over 40% of total demand for copper and rare earth elements, 60–70% for nickel and cobalt, and nearly 90% for lithium.’

SAGA Metals Corp. (TSX-V: SAGA) (OTCQB: SAGMF) Announces Initiation of Equity Analyst Coverage by Alphabridge Group with Outperform Rating – SAGA Metals Corp (FSE: 20H) (‘SAGA’ or the ‘Company’), a North American exploration company focused on critical mineral discovery, is pleased to announce that it has received initiation of equity analyst coverage by Alphabridge Group Inc. (‘Alphabridge’), a leading independent corporate finance advisory and research firm specializing in small and mid-cap companies with an outperform rating.

Alphabridge, based in Vancouver, Canada, is a corporate finance advisory firm that partners with growth companies to deliver strategic financial leadership across mergers & acquisitions (M&A), capital raising, valuation, and CFO services. In addition to its advisory practice, Alphabridge operates a dedicated equity research arm that focuses on providing independent coverage for companies operating at pivotal stages of development with significant growth potential. Alphabridge’s research is distributed through major institutional platforms, including S&P Capital IQ, FactSet, AlphaSense, and Thomson Eikon, as well as its newsletter with over 2,000 subscribers. Their coverage of Saga Metals is expected to highlight the Company’s strategic focus on its flagship Radar Ti-V-Fe Project in Labrador, Canada, and its emerging portfolio of critical mineral assets.

Their initiation report on Saga Metals, dated September 8, 2025, titled ‘Saga Metals Corp. (TSX.V: SAGA) – Initiating Coverage – Well-Positioned for the Critical Minerals Supercycle,’ underscores the Company’s potential to deliver value through its titanium-vanadium project.

The research report is available to view or to download from the firm’s websites: https://alphabridge.co/download-saga-metals-equity-research-report/ or upon written request sent to Alphabridge.

Alphabridge Group Inc.

Analyst: Vasant Jain, CFA

Email: vasant@alphabridge.co

Website: www.alphabridge.co

In addition, the research report will be disseminated through various third-party websites and major institutional platforms as outlined above. Investors are encouraged to review the reports for detailed insights into Saga Metals’ projects and growth strategy. Alphabridge’s Initiation Research Report includes a third-party independent review of Saga Metals, an Enterprise Valuation Analysis and a Share Price Target completed by Alphabridge’s analyst, Vasant Jain, CFA. The opinions expressed in the Research Report referenced above are the true opinions of the analyst about Saga Metals and its industry. CONTINUED … Read this full press release and more news for SAGA Metals at: https://sagametals.com/corporate-news/

Other recent developments in the mining industries of note include:

TMC the metals company Inc. (NASDAQ: TMC) , a leading developer of the world’s largest estimated undeveloped resource of critical metals essential to energy, defense, manufacturing and infrastructure, recently provided a corporate update and second quarter results for the period ending June 30, 2025.

Q2 2025 Financial Highlights Were: Total cash of approximately $115.8 million at June 30, 2025; $10.6 million cash used in operations for the quarter ended June 30, 2025; and Operating loss of $22 million, net loss of $74.3 million and net loss per share of $0.20 for the quarter ended June 30, 2025

TMC Chairman and CEO Gerard Barron commented: ‘The publication of our PFS for the NORI-D Project marks a defining moment for TMC—showing the potential of a clear, capital-efficient path to first production. Alongside our Initial Assessment of the broader NORI and TOML resource areas, these studies underscore the scale and durability of our portfolio, with a combined NPV of $23.6 billion. The strategic investment from Korea Zinc—one of the few companies outside China capable of refining our intermediate materials at scale—further strengthens our route to market. We also renewed our partnerships with Nauru and Tonga—reaffirming our commitment to delivering lasting benefits for Pacific nations.’

Critical Metals Corp. (NASDAQ: CRML) , a leading critical minerals mining company, recently announced for the first time three new assay results from the 2024 diamond drill hole program at the Fjord Deposit at the Tanbreez Rare Earth Project in Greenland.

Highlights – 2024 New Diamond Drill Hole Results Were: Consistent high-grade rare earth mineralization intersected in all four reported holes, with Total Rare Earth Oxide (TREO) grades between 0.40% and 0.42%; High proportion of heavy rare earth oxides (HREO) ~26% of TREO, reinforcing the deposit’s potential strategic value; Significant zirconium oxide (ZrO₂) grades of 1.57–1.58% across all holes; Gallium oxide (Ga₂O₃) assays between 93–99 ppm, providing a potential additional economic credit; All holes drilled vertically (-90°) through sub-horizontal, stratiform kakortokite layers, intersecting mineralisation at approximately true thicknesses.

Mineralisation remains open at depth in all reported holes; Drilling confirms continuity of grade and mineralogy across multiple sections of the Fjord Deposit, consistent with historical data; All the drill holes were collared within the Fjord Deposit with 23.6MT @ 0.42% TREO Maiden Mineral Resource; and The holes are part of the ongoing 2024–2025 Fjord Resource Upgrade program, with over 1900 m drilled to date in 2025 and further assays pending.

Rio Tinto Group (NYSE: RIO) recently announced a new operating model and executive team to shape the company’s next chapter. The changes simplify and streamline the organization to drive greater accountability and safe, sustainable, profitable growth through focusing on the most compelling opportunities to deliver long-term shareholder value.

Effective immediately, Rio Tinto will simplify its product group structure to three world-class businesses: Iron Ore; Aluminum & Lithium; and Copper. This focused structure and leadership positions each business to deliver excellence for customers and maximize competitive advantages and growth potential, while benefitting from the diversified group.

The Iron Ore product group will bring together all of Rio Tinto’s iron ore operations under the leadership of Matthew Holcz, who has been appointed Chief Executive Iron Ore. The unified portfolio will integrate Rio Tinto’s Western Australian Iron Ore operations with the Iron Ore Company of Canada and the Simandou project in Guinea upon its completion. This will combine the proven performance of the company’s established Iron Ore operations with the potential of Simandou, sharing safety best practices, cutting-edge technologies and operational experience across the entire Iron Ore portfolio to create an even stronger global business.

Empire Metals Limited (OTCQX: EPMLF) (LON: EEE), the resource exploration and development company, recently announced its interim results for the six-month period ended 30 June 2025.

Highlights:

• Pitfield confirmed as the world’s most significant new titanium discovery, with unparalleled scale, consistency of high-grade and purity.
• Largest drilling campaign to date launched at the Thomas Prospect delivered outstanding results and identified a large high-grade near-surface core, averaging ~6% TiO₂ over a continuous 3.6km strike.
• Metallurgical testwork achieved a 99.25% TiO₂ product, demonstrating a highly efficient and potentially lower-cost processing route.
• Process development work has confirmed that Pitfield’s weathered ore is ideally suited to conventional mineral separation and refining, differentiating it from ilmenite-based projects which typically face lower recoveries, higher costs, and significant environmental challenges.
• Maiden Mineral Resource Estimate (‘MRE’) on track for release in the coming weeks.
• £4.5m raised in May 2025 to accelerate Pitfield development, with strong institutional support.
• Further strengthening of board and technicial team with appointment of Phil Brumit as Non-Executive Director, Alan Rubio as Study Manager and Pocholo Aviso as Hydro-metallurgist.
• Commenced US trading on the OTCQX in the US, broadening international investor access.

Shaun Bunn, Managing Director, commented: ‘The first half of 2025 has been a period of remarkable activity and momentum for Empire. Pitfield is no longer just a discovery story – it is fast becoming recognized as a project of global importance, with results that continue to exceed expectations. Our drilling campaigns have delivered some of the highest TiO₂ grades we’ve seen to date, confirming not only the exceptional quality of the deposit but also its scale consistency and simplicity.

‘It is also encouraging to see the strength of market support for what we are building and I am confident that Empire can bring this once-in-a-lifetime discovery to commercial fruition in an expedient manner. With a world-class asset, a strengthened technical team, and strong financial backing, we are exceptionally well positioned for the next phase of growth.’

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Lode Gold Resources Inc (TSXV: LOD,OTC:LODFF) (OTCQB: LODFF) (‘LOD.V’ and ‘Lode Gold’) and its wholly owned subsidiary Fremont Gold LLC (‘Freemont’), have successfully completed the transfer of the Mine Safety and Health Administration (‘MSHA’) property MSHA individual identification number (‘MIIN’) for its wholly owned Pine Tree Josephine Mine.

This is a critical step toward reviving one of California’s most historically significant gold operations. Fremont is now in active discussions with prospective partners and investors to align the right technical, operational, and financial resources to bring the Pine Tree Josephine Mine (‘Freemont Mine’) back into production in a safe, sustainable, and profitable manner.

The transfer of the MIIN is a key regulatory milestone which ensures that the Company’s ownership and operational control of the Freemont Mine, a historically productive gold property with significant past production, are fully recognized by MSHA, paving the way for the next stage of its development and reactivation plans.

Upcoming catalysts for Lode at Fremont after this milestone are:

– 2025: channel sampling and drilling to upgrade resources to M&I (Measures and Indicated) based on NI 43-101 standards
– 2026: completion of PFS (Pre-Feasibility Study) engineering and metallurgy studies

About Lode Gold

Lode Gold is an exploration and development company with projects in highly prospective and safe mining jurisdictions in Canada and the United States.

In the United States, the Company is focused on its advanced exploration and development asset, the Fremont Mine in Mariposa, California. It has a recent 2025 NI 43-101 report and compliant Mineral Resource Estimate (‘MRE’) that can be accessed here https://lode-gold.com/project/freemont-gold-usa/

The Fremont Mine was previously mined until operations ceased due to mining prohibitions during WWII when its mining license was suspended. Only 8% of the resource identified in the 2025 MRE has been extracted. The Freemont Mine has exploration upside and mineralization is open at depth (three step-out holes at 1,300 meters hit structure and were mineralized) and on strike. This is a brownfield project with over 43,000 meters drilled, 23 kilometers of underground workings and 14 adits. The project has excellent infrastructure and is close to electricity, water, roads, railhead and port.

Recently, the Company completed an internal scoping study, with a strategic pivot to 100% underground mining. Previously, in March 2023, the Company completed an NI 43-101 Preliminary Economic Assessment (‘PEA’) with an open pit and underground combination mine. The NI 43-101 technical reports are available on the Company’s profile on SEDAR+ (www.sedarplus.ca) and the Company’s website (www.lode-gold.com)

In Canada, its Golden Culvert and WIN projects in Yukon, covering 99.5 square kilometres across a 27-kilometre strike length, are situated in a district-scale, high-grade gold mineralized trend within the southern portion of the Tombstone gold belt. A total of four RIRGS targets have been confirmed on the property. A National Instrument 43-101 technical report has been completed in May, 2024.

In New Brunswick, Lode Gold has created one of the largest land packages with its Acadian Gold JV Co., consisting of an area that spans 445 square kilometres and a 44-kilometre strike. McIntyre Brook covers 111 square kiloimetres and a 17-kilometre strike in the emerging Appalachian/Iapetus gold belt; it is hosted by orogenic rocks of similar age and structure as New Found Gold’s Queensway project. Riley Brook is a 335-square-kilometre package covering a 26-kilometre strike of Wapske formation with its numerous felsic units. An NI 43-101 technical report has been completed in August, 2024.

ON BEHALF OF THE COMPANY

Wendy T. Chan
CEO & Director

Cautionary Statement Regarding Forward-Looking Information

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

This news release includes ‘forward-looking statements’ and ‘forward-looking information’ within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the use of proceeds, advancement and completion of resource calculation, feasibility studies, and exploration plans and targets. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as ‘anticipate’, ‘believe’, ‘plan’, ‘estimate’, ‘expect’, ‘potential’, ‘target’, ‘budget’ and ‘intend’ and statements that an event or result ‘may’, ‘will’, ‘should’, ‘could’ or ‘might’ occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. These include assumptions regarding, among other things: the status of community relations and the security situation on site; general business and economic conditions; the availability of additional exploration and mineral project financing; the supply and demand for, inventories of, and the level and volatility of the prices of metals; relationships with strategic partners; the timing and receipt of governmental permits and approvals; the timing and receipt of community and landowner approvals; changes in regulations; political factors; the accuracy of the Company’s interpretation of drill results; the geology, grade and continuity of the Company’s mineral deposits; the availability of equipment, skilled labour and services needed for the exploration and development of mineral properties; currency fluctuations; and impact of the COVID-19 pandemic.

There can be no assurance that forward-looking 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 a deterioration of security on site or actions by the local community that inhibits access and/or the ability to productively work on site, actual exploration results, interpretation of metallurgical characteristics of the mineralization, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals, unknown impact related to potential business disruptions stemming from the COVID-19 outbreak, or another infectious illness, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators, including those described under the heading ‘Risks and Uncertainties’ in the Company’s most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/265664

E-Power Resources Inc. (CSE: EPR) (‘E-Power’ or the ‘Company’) is pleased to report results from Phase 1 of the 2025 Exploration Program being completed on the Tetepisca Flake Graphite Property located in the North Shore region of Quebec. Highlights of results include:

• Several high grade (> 10% Cg) samples including a high grade sample of 26.4% Cg from a target area on the northern part of the property which was discvered in 2024.

• Several high grade (> 10% Cg) samples including a high grade sample of 68.7% Cg from Graphi-Centre, the Company’s highest priority target on the Tetepisca Property.

• Discovery of a new flake graphite showing which includes a high grade grab sample of 54.7% Cg located on a long conductive linear trend on the southwestern part of the property.

James Cross, President and CEO of E-Power commented: ‘Phase 1 of our 2025 Exploration Program further demonstrates the from-surface, high grade resource potential of several flake graphite targets on the property. Metallurgical testwork, detailed mineralogy, and continued geological evaluation will result in characterization of the potential deposits and prioritization for advanced evaluation and delineation. By characterizing the different resource delineation targets, we expect to be able to attract users of graphite, and companies who want to secure that link in the supply chain; those who need politically-reliable graphite sources. Those users and traders have the capital to turn it quickly into a resource, and ultimately, a secure source of easily accessible graphite.’

During June 2025, the Company completed Phase 1 of its 2025 exploration and development program on the Tetepisca Flake Graphite Property. Field work included geological and geophysical mapping and prospecting during which 44 grab samples were collected. The objectives of the field work were to:

1) Follow up and expand Flake Graphite discoveries made in 2024 located on the lesser explored northern part of the property,

2) Complete detailed geological mapping and sampling on Graphi-Centre, the Company’s highest priority flake graphite target on the Tetepisca Property,

3) Geological mapping and sampling along the Syndicate Target, a long linear airborne conductor which includes 6 historical flake graphite showings and a historical drill hole with an intercept of 12.74% Cg over 9.55 metres.

4) Collect samples of approximately 250 kg each from selected exposures for preliminary metallurgical test work fron the Graphi Centre target and from the northern claims.

Map 1 is an index map illustrating target areas explored and the locations of bulk samples collected during Phase 1 of the 2025 exploration program.

Map 1

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Northern Claims Target Area and Results

As part of the 2024 exploration program, the company completed a program of geological and geophysical prospecting and mapping on the northern part of the property. The work was focussed on evaluating selected conductors and conductor trends derived from interpretation of the Company’s airborne electomagnetic (‘EM’) survey completed in 2022 as well as historical airborne EM surveys. The 2024 prospecting work resulted in the discovery of 5 flake graphite bearing conductors all of which are characterized by numerous samples > 5% Cg and and all containing high grade samples > 20% Cg (Map 2).

During Phase 1 of the 2025 program, follow-up geological and geophysical mapping and prospecting was completed with the objective of expanding the surface exposure of the N3 and N4 targets. On the N3 target, one additional outcrop was located and stripped. Three grab samples of the exposure returned 23.1 % Cg, 23.0 % Cg, and 17.95% Cg (Map 3). The N3 target is exposed, in isolated outcrop exposures, over a distance of approximately 330 m parallel to the airborne conductive trend. Depth of overburden prohited further exposing the conductive trend.

Map 2

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Work in the area of the N4 target resulted in a significant expansion of the footprint of graphite bearing stratigraphy coincident with airborne conductive trends. Samples recovered from the north-northeast conductive trend west of the 2024 target area returned values of 26.4% Cg, 21.7% Cg, 17.95% Cg, and 7.44% Cg (Maps 2 and 3). A single sample located approximately 35 metres north of 2024 sampling returned a value of 18.05% Cg.

Flake graphite mineralization discovered on the northern claims in 2024 and 2025 is hosted by strongly deformed, high metamorphic grade, sedimentary rocks. Airborne magnetic and EM conductivity patterns indicate that the graphite bearing stratigraphy is part of a complexly folded and faulted sequence continuous from southwest of the N5 target to north, north of the N1 target, and which includes the Uatnan deposit as well as historical graphite mineralization in surface showings and in diamond driill hole intercepts (Maps 1 and 2).

Map 3

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Graphi-Centre Target Area and Results

The Graphi-Centre target area, located in the southern part of the Tetepisca Flake Graphite property, is a domain of curved magnetic and conductive lineaments interpreted as the hinge zone of complexly folded, variably magnetic and conductive stratigraphy (Map 4). The Graphi-Centre domain hosts the historical Graphi-Centre graphite occurrence and a number of historical graphite bearing to high grade graphite grab samples. During 2021, the Company completed a ground based electromagnetic survey to aid in the mapping and interpretation of airborne conductors, and in 2023 drilled 632.7 metres in 5 NQ diamond drill holes and an additional 7.45 metres of BQ core in 3 man-portable drill holes. Highlights of the drilling include 3.80 metres at a average grade of 17.85% Cg. During Phase 1 2025, the Company initiated a program of detailed geological mapping and sampling on the southern part of the Graphi-Centre target area. Fifteen samples were taken from the southern part of the Graphi-Centre target. Highlights of the mapping and sampling include a high of 64% Cg from a grab sample on the South Limb Zone and a high of 68.7% Cg from a grab sample at the western end of the North Limb Zone (Map 4).

Map 4

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Syndicate Target and Results

The Syndicate Target comprises a southeast trending linear airborne conductor approximately 12 kilometres long located in the southwest part of the property. The conductor hosts 6 historical graphite showings; 3 of which were discovered by the Company in 2019 and one of which is a historical drill hole with an intercept of 12.74 % Cg over an intersection length of 9.55 metres (Map 5). During Phase 1 2025, mapping and prospecting resulted in the discovery of an additional showing along the syndicate trend defined by 5 flake graphite bearing samples colleted over a 28 metre southeast trend length. Cg analyses of the 5 samples range from 5.07% Cg to 54.7% Cg (Map 5).

Map 5

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Summary and Next Steps

The Tetepisca Graphite district contains approximately 126 Mt Mt of Measured and Indicated flake graphite mineralization at an average grade of approximately 14% Cg in 3 deposits, one of which has advanced through feasibility containing a reserve of approximate 4.7 Mt of ore at an average grade of 27.8 % Cg. E-Power is the largest holder of mineral rights in the Tetepisca Graphite District with 234 claims covering 12,840 hectares. The E-Power property contains the stratigraphy and geophysical signatures correlated with that hosting the district resources and contains 9 recorded historical graphite showings. E-Power has added to the inventory of showings with a number of graphite discoveries property-wide including those in the northern claim group discovered in 2024.

Since entrance into the Tetepasca Graphite District in 2019, E-Power has been completing a comprehensive property-wide assessment of flake graphite resource potential. The Company is anticipating the near-term reporting of metallurigical testwork initiated during the winter of 2025 from the Captain Cosmos, Syndicate, and Graphi-West Showings. Next steps include continued field work during Phase 2, 2025 and the initiation of additional metallurgical test work and detailed mineralogy study from selected showings. The Company is advancing towards target prioritization for advanced exploration, evaluation, and resource delineation.

About the Tetepisca Property

The Tetepisca Property is located approximately 220 km north of the town of Baie-Comeau in the North Shore Region of Québec. The property consists of 234 claims covering an area of approximately 12,840 hectares within the emerging Tetepisca Graphite District (‘TGD’). The property is 100% owned by E-Power. Fifty-two claims, located in the southern part of the property, are subject to a 1.5% NSR held by a group of local prospectors; otherwise the Tetepisca property remains unencumbered. The TGD is an active graphite exploration and development district with delineated measured and indicated resources in excess of 120 Mt at an average grade of approximately 14% Cg. The Company’s Tetepisca property is strategically located over continuous bedrock conductive horizons that are known and interpreted to be due to graphite and which hold significant potential to host flake graphite resources. The intersection of graphite in our 2023 drilling and the results of our 2024 exploration program to date confirms the Company’s exploration model and provides the basis for continued exploration and evaluation.

Sources of Information and Qualified Person

1) The resource and reserve data on Maps 1 and 2 is from the following sources:

1. NI 43-101 Technical Report Mineral Resource Estimate. Lac Tétépisca Graphite Project Québec, Focus Graphite, 2022 available at the SEDAR website

3. NI 43-101 Technical Report Mineral Resource Estimate on the Lac Gueret South Property. Berkwood Resources Ltd., 2019) available at the SEDAR website

2) The historical graphite showing locations illustrated in Maps 1, 4 and 5 is from the data file of Non-metallic deposits in Quebec, available from the SIGEOM website, Ministère des Ressources Naturelles et des Forêts.

3) The historical Cg data on the Map 4 is from: Rapport des travaux de prospection, Projet Lac Guinécourt, SNRC 22K14, file GM 67766, available from the SIGEOM website, Ministère des Ressources Naturelles et des Forêts.

4) The data for the 2023 drilling program contained in Map 4 is from: Report on 2023 drilling campaign on the Tetepisca property, file GM 73883, available from the SIGEOM website, Ministère des Ressources Naturelles et des Forêts.

5) The historical drill hole intercept reported on Map 5 and discussed in the release is from file GM 68992 available from the SIGEOM website, Ministère des Ressources Naturelles et des Forêts.

6) The Cg data from 2024 appearing on Maps 4 is from the E-Power 2024 exploration program and was released October 9, 2024 and March 7, 2025.

Jamie Lavigne, P. Geo, Vice President Exploration and Director for E-Power is a Qualified Person as defined in NI 43-101 and has reviewed and approved the technical information in this press release.

About E-Power

E-Power Resources Inc. is a Québec Corporation based in Montréal and focused on battery minerals exploration in Québec. The Company is currently advancing two projects; the Tetepisca property, located in the North Shore region of the Province and the Turgeon property located in the Abitibi region adjacent to the Ontario border. The Company’s priority target is flake graphite on the Tetepsica Property. The Turgeon property is located in the prolific Abitibi gold and base metal mining district and the Company is evaluating Turgeon primarily for its copper-zinc and gold potential.

For more information about E-Power Resources Inc. please visit the Company website at: e-powerresources.com.

Notice Regarding Forward-Looking Statements:
This news release contains ‘forward-looking statements.’ Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate.

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Reports 1.33 Million Tonnes Grading 493 G/T AgEq For 21.1 Million Ounces AgEq Indicated and 5.14 Million Tonnes Grading 525.9 G/T AgEq For 86.88 Million Ounces AgEq Inferred

Blackrock Silver Corp. (TSXV: BRC,OTC:BKRRF) (OTCQX: BKRRF) (FSE: AHZ0) (‘Blackrock’ or the ‘Company’) is pleased to report the results for its updated mineral resource estimate (the ‘Updated MRE’) for its 100% owned Tonopah West project (‘Tonopah West’ or the ‘Property’), located in West-Central Nevada within Nye and Esmeralda Counties, Nevada, United States. Tonopah West is conveniently situated directly adjacent to the town of Tonopah in Western Nevada, with highway US 95 crossing the Property, and the resource area lies exclusively within patented mining claims and fee lands. All amounts herein are presented in United States Dollars unless otherwise stated.

HIGHLIGHTS:

• The Updated MRE contains a total of 0.107 million ounces (‘Mozs‘) of gold (‘Au‘) and 9.5Mozs of silver (‘Ag‘), or 21.1Mozs of silver equivalent (‘AgEq‘) of indicated mineral resources, and 0.47 Mozs of Au and 35.5Mozs of Ag, or 86.88Mozs of AgEq of inferred mineral resources.

• Indicated mineral resources were not previously included in the mineral resource estimate for Tonopah West effective August 25, 2024 (the ‘Previous MRE‘), highlighting how Blackrock’s recent in-fill drilling program (the ‘M&I Conversion Program‘) at Tonopah West which commenced in mid-July 2024 has confirmed previous inferred mineral resource estimates and improved geologic confidence in the mineral resource estimate on the Project.

• At a 180 grams per tonne (‘g/t‘) AgEq cutoff, the average block-diluted grade of the indicated mineral resources is 493 g/t AgEq and the average block-diluted grade of the inferred mineral resources is 525.9 g/t AgEq.

• The Updated MRE includes 83 new drillholes completed in 2024-2025 and is based on a refined geologic model which was updated to reflect the new drilling and added more detail to the spatial distribution of mineralized veins.

• Silver and gold mineralization at Tonopah West remains open to the northwest, east and internally between the main bodies of mineralization, and at depth.

Table 1: Tonopah West Updated 2025 Mineral Resource Estimate

¹ AgEq cutoff grade is based a total mining, processing and G&A cost of $129/tonne (see Table 2).

2 Silver Equivalent grade ratio used in this news release is 100:1 which is based on silver and gold prices of $27/ounce and $2,700/ounce, respectively, and recoveries for silver and gold of 87% and 95%, respectively. AgEq Factor= (Ag Price / Au Price) x (Ag Rec / Au Rec) or ($27/$2700) x (0.87/0.95) = 0.009158; g AgEq/t = g Ag/t + (g Au/t / AgEq Factor).

³ Rounding as required by reporting guidelines may result in apparent discrepancies between tonnes, grade, and contained metal content.

⁴ Mineral resources are not mineral reserves and do not have demonstrated economic viability. An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.

⁵ The estimate of mineral resources may be materially affected by geology, environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues, although there are currently no known factors related to these issues which could materially affect these mineral resource estimates.

The Updated MRE was prepared in accordance with Canadian Institute of Mining, Metallurgy and Petroleum (‘CIM‘) Definition Standards – For Mineral Resources and Mineral Reserves adopted by the CIM May 19, 2014, and in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101‘). The Updated MRE was prepared by RESPEC Company LLC (formerly Mine Development Associates)(‘RESPEC‘) with an effective date of August 25, 2025.

Andrew Pollard, the Company’s President and Chief Executive Officer, stated, ‘As evidenced by the Updated MRE, the Company has delivered on its guidance for the M&I Conversion Program, delineating 1.333Mtonnes of indicated mineral resources while maintaining the high-grade (493 g/t AgEq) within the shallowest portion of the Tonopah West deposit. The Updated MRE shows the continuity of high grades within the tighter spaced drill pattern and is showing trends similar to those documented in the historic Victor and Ohio veins located to the east. This upgrade to the DPB South area gives the Company added confidence to pursue the permits required, refine the engineering designs and engage the talent for advancing the project to the next phase which includes an exploration decline, test mining and extracting a bulk sample.’

He continues, ‘The Company’s current exploration programs at Tonopah West are focused on the expansion opportunities to the northwest and east. The results from the recently completed northwestern expansion drilling programming and the currently active eastern expansion drilling program are intended to be incorporated into an updated mineral resource estimate and updated preliminary economic assessment of the Tonopah West deposit planned for Q1-2026.’

The Updated MRE is presented with block diluted grades. The AgEq block model grades are based on $27 per ounce of silver, $2,700 per ounce of gold, and 87% and 95% recoveries for silver and gold, respectively.

The Updated MRE is reported using a cutoff grade which was calculated from estimated underground mining costs and metallurgical recoveries to meet reasonable prospects for eventual economic extraction. Table 2 shows assumed mining, processing, and G&A costs.

Table 2: Tonopah West mining, processing and G&A costs at the listed gold and silver price

The Updated MRE on Tonopah West has been tabulated by four separate spatial areas or zones that make up the Property (Victor, DPB North, DPB South and Northwest). The areas are not materially different geologically but have been separated for logistical purposes in future mining scenarios.

Table 3: Tonopah West 2023 Updated Resource Estimate by Area

¹ AgEq cutoff grade is based a total mining, processing and G&A cost of $129/tonne (see Table 2).

² Silver Equivalent grade ratio used in this news release is 100:1 which is based on silver and gold prices of $27/ounce and $2,700/ounce, respectively, and recoveries for silver and gold of 87% and 95%, respectively. AgEq Factor= (Ag Price / Au Price) x (Ag Rec / Au Rec) or ($27/$2700) x (0.87/0.95) = 0.009158; g AgEq/t = g Ag/t + (g Au/t / AgEq Factor).

³Rounding as required by reporting guidelines may result in apparent discrepancies between tonnes, grade, and contained metal content.

⁴ Mineral resources are not mineral reserves and do not have demonstrated economic viability. An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.

⁵ The estimate of mineral resources may be materially affected by geology, environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues, although there are currently no known factors related to these issues which could materially affect these mineral resource estimates.

Recent Blackrock drilling which underpins the Updated MRE is summarized in Tables 4 and 5.

Table 4: Summary of Blackrock drilling to date summarized by metre

Table 5: Summary of Blackrock drilling to date summarized by hole count

The Updated MRE includes 83 new drillholes (representing 33,248 metres of total aggregate drilling) completed in 2024-2025 by Blackrock since the Previous MRE. Blackrock drilling represents 96% of the drillholes contributing to the Updated MRE.

Recent drilling by the Company focused its efforts on collecting drillhole exploration data in key areas of the deposit, including high-density drilling in the DPB South area on 30 metre centers and step-out drilling in the Northwest zone to test mineralization continuity.

The Updated MRE is based on drillholes which are oriented between 90 to 50 degree inclinations from the surface, with up to three drillholes at different inclinations completed from the same drill pad. Drillholes are spaced approximately every 30 metres in the DPB South zone and 50 to 100 metres along sections with 50 metre distance between sections in DPB North and Northwest. At Victor, drillholes are spaced between approximately 25 to 50 metres apart along sections with the sections 50 to 100 metres apart.

The Updated MRE encompasses Victor, DPB North, DPB South, and Northwest zones. The Victor area is approximately 700-metres by 350-metres while the DPB North area is 500-metres by 600 metres, DPB South area is 800 metres by 700 metres, the Northwest area is 1300 metres by 100 metres.

RESPEC was supplied with vein shapes on cross-sections and level-plans generated by Blackrock which were subsequently solidified into a three-dimensional geologic model. Mineralized vein thicknesses in the model ranged from 0.1 to 15.8 metres and averaged 3.0 metres. A representative cross-section of deposit geology and vein intercepts is provided in Figure 1. Silver and gold mineral resources were modelled and estimated as follows:

• Evaluate the drill data statistically;

• Create tightly constrained low-, medium- and high-grade mineral-domain wireframe solids for both silver and gold, using the three-dimensional geologic model as a basis for domain interpretation;

• Code a block model to the silver and gold domains using the mineral-domain wireframe solids;

• Analyze the modelled mineralization geostatistically to aid in the establishment of estimation and classification parameters; and

• Interpolate grades into models comprised of 1.0(east-west) x 1.0(north-south) x 1.0(vertical)-metre blocks using the silver and gold mineral domains to explicitly constrain the grade estimations.

Figure 1: Representative Cross-Section Showing Geology and Mineralized Veins

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Drillhole assay samples were composited within the mineralized domains. High-grade capping was completed on composite data and established using a statistical analysis for silver and gold. Silver was capped at 3,000 g/t, and gold was capped at 30 g/t.

Specific gravity test work was completed for 370 core samples. Results indicate an average density of 2.46 grams/cm³ for low-grade mineralized vein material, 2.53 grams/cm³ for mid- and high-grade mineralized vein material, and values ranging from 2.11-2.47 grams/cm³ for unmineralized wall rock, which varies by geologic formation.

RESPEC utilized Inverse Distance Cubed (ID³) interpolation for the estimation to obtain a localizing effect in the mid- and high-grade domains, and an Inverse Distance Squared (ID²) in the low-grade domains where mineralization is more diffuse. All estimates are based on a block dimension of 1 metre by 1 metre by 1 metre blocks.

The original deposit had been depleted by historical mining in the Victor area. Approximately 200,000 tonnes of material was removed from the Victor mineral resource estimate.

A cutoff grade for the reported resource of 180 g/t AgEq was selected based on assumed mining costs for underground methods along with processing and G&A costs (see Table 2). At a 180 g/t AgEq cutoff, the average grade of the indicated and inferred mineral resources comprising the Updated MRE is 493.4 g/t AgEq and 525.8 g/t AgEq, respectively.

A technical report is being prepared on the Updated MRE in accordance with NI 431-101 and will be available on the Company’s website and on SEDAR+ at www.sedarplus.ca within 45 days of the date of this news release.

Qualified Persons

The Updated MRE was prepared under the supervision of Mr. Jeffrey Bickel, CPG, an employee of RESPEC who is independent of the Company and a qualified person as defined under NI 43-101. Mr. Bickel has reviewed and approved the technical contents relating to the Updated MRE in this news release.

Blackrock’s exploration activities at Tonopah West are conducted and supervised by Mr. William Howald, Executive Chairman of Blackrock. Mr. William Howald, AIPG Certified Professional Geologist #11041, is a qualified person as defined under NI 43-101. Mr. William Howald has reviewed and approved the technical contents of this news release as related to exploration activities at Tonopah West.

Quality Assurance/Quality Control

Mr. Bickel has reviewed the sampling, assaying, and security procedures used at Tonopah West and it is his opinion that they follow industry standard procedures, and are adequate for the estimation of the current MRE and for use in preparing the Technical Report.

Mr. Bickel completed an audit of the database, verified data underpinning the MRE, visited the project site, and reviewed quality assurance and quality control data. He considers the assay data to be adequate for the estimation of the current MRE and for use in preparing the Technical Report.

2025 Precious Metals Summit

Blackrock will be attending the 2025 Precious Metals Summit (the ‘Summit’) in Beaver Creek, Colorado being held on September 9-12, 2025.

Blackrock’s President & Chief Executive Officer, Andrew Pollard, will be presenting at the Summit on Tuesday, September 9th at 1:00pm MT. The presentation will be webcast live (and available for replay), in addition to 1-on-1 meetings with institutional investors and corporates throughout the conference.

To view the webcast (and replay) please visit: https://www.gowebcasting.com/conferences/2025/09/09/precious-metals-summit

About Blackrock Silver Corp.

Backed by gold and silver ounces in the ground, Blackrock is a junior precious metal focused exploration and development company driven to add shareholder value. Anchored by a seasoned Board of Directors, the Company is focused on its 100% controlled Nevada portfolio of properties consisting of low-sulphidation, epithermal gold and silver mineralization located along the established Northern Nevada Rift in north-central Nevada and the Walker Lane trend in western Nevada.

Additional information on Blackrock Silver Corp. can be found on its website at www.blackrocksilver.com and by reviewing its profile on SEDAR at www.sedarplus.ca.

Cautionary Note Regarding Forward-Looking Statements and Information

This news release contains ‘forward-looking statements’ and ‘forward-looking information’ (collectively, ‘forward-looking statements‘) within the meaning of Canadian and United States securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements in this news release relate to, among other things: the Company’s strategic plans; estimates of mineral resource quantities and qualities; the timing of filing of the NI 43-101 technical report on the Updated MRE; the timing of release of a further updated mineral resource estimate; timing and expectations for the Company’s exploration and drilling programs; estimates of mineralization from drilling; geological information projected from sampling results; and the potential quantities and grades of the target zones.

These forward-looking statements reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include, among other things: conditions in general economic and financial markets; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services; future operating costs; the historical basis for current estimates of potential quantities and grades of target zones; the availability of skilled labour and no labour related disruptions at any of the Company’s operations; no unplanned delays or interruptions in scheduled activities; all necessary permits, licenses and regulatory approvals for operations are received in a timely manner; the ability to secure and maintain title and ownership to properties and the surface rights necessary for operations; and the Company’s ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.

The Company cautions the reader that forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data; general market and industry conditions; and those factors identified under the caption ‘Risks Factors’ in the Company’s most recent Annual Information Form.

Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

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

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