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Platinum and palladium are both basking in gold’s glow, however their performance is tempered by each metal’s unique market dynamics.

Of the two, platinum has been the biggest winner in 2025. The price of the precious metal climbed by 90 percent to its year-to-date high of US$1,725 per ounce it reached briefly on October 16. Although the market has since experienced a pull back below the US$1,600 level, platinum prices remain at 12-year highs.

As for palladium, the precious metal rose by nearly 80 percent to reach a peak of US$1,630 on October 16. However, the palladium price has since fallen back to the US$1,430 level.

In its annual Precious Metals Investment Focus report published October 25, Metals Focus showcased key supply and demand trends moving the market and prices for precious metals such as platinum and palladium.

Platinum market reflecting more than gold’s shine

Platinum is no doubt benefitting from strong investor demand for precious metals on stagnation fears in 2025. But the metal’s robust supply and demand fundamentals are also at play, according to Metals Focus analysts.

Above ground inventories of platinum remain tight while future mine production is bogged down in operation challenges. “In Southern Africa, outages and heavy rainfall have disrupted production, while North America is undergoing restructuring,” noted the report.

On the demand side, the platinum demand from the jewelry sector has posted significant gains this year, especially in China. As the price of gold skyrockets, platinum jewelry has become a much more attractive alternative. Investment flows into platinum exchange-trade products in China and the US are another key demand driver for the metal this year.

Platinum and palladium prices

Chart via Metals Focus, Bloomberg

While platinum prices are at levels not seen in 12 years, palladium prices are only experiencing a 2-year high. “Palladium has also benefited at the margin, but remains a laggard, with a more lacklustre fundamental outlook limiting investor enthusiasm,” according to Metals Focus.

2026: Platinum bull and palladium bear

Platinum prices will continue to benefit from the overall upward trend in precious metals prices in the remainder of 2025 and well into 2026. The ongoing supply deficit in the platinum market is also highly price supportive.

Metals Focus is forecasting a third consecutive year of physical deficit for 2025, totaling 415,000 ounces as platinum mine output is expected to decline by 6 percent year-over-year. Demand is projected to fall by 4 percent largely due to lower outputs in the glass and automotive sectors.

Platinum’s supply deficit is expected to continue into 2026 and grow to an estimated 480,000 ounces as mine supply is forecast to fall by 2 percent to a 12 year low (excluding COVID 2020). “With few new projects coming online after years of underinvestment, mine supply is undergoing structural decline,” noted the report’s authors.

This will be happening at the same time that demand is expected to rebound by 1 percent on renewed industrial demand, specifically out of the glass and chemical sector in China. Yet, Metals Focus cautions that demand out the automotive and jewelry sectors are likely to contract.

The trend toward electrification is the auto industry may have slowed, but it’s still expected to erode platinum demand, especially as catalytic converter manufacturers shift back to more cost-effective palladium.

Metals Focus is forecasting a 2026 average platinum price of US$1,670 per ounce, up 34 percent over the previous year.

Platinum and palladium price outlook

Chart via Metals Focus, Bloomberg

Looking over to palladium, Metals Focus has a more bearish view. The firm is projecting palladium prices to average US$1,350 per ounce in Q4 2025, falling to US$1,150 by Q4 2026. Although the palladium market has been in a physical deficit for the past few years, that deficit is expected to shrink from 566,000 ounces in 2024 to 367,000 ounces in 2025 before narrowing even further to 178,000 in 2026.

The same structural issues plaguing platinum are also of course weighing on palladium mine supply, which is forecast to fall by 3 percent in 2026. However, secondary supply is projected to increase by 10 percent as recycling activity recovers. Overall, total palladium supply is expected to grow by 1 percent for the year. At the same time, demand for palladium is set to decline by just over 1 percent in 2026 on a drop from the automotive sector.

Investor takeaway

Both platinum and palladium are considered precious metals based on their rarity and use in jewelry fabrication and physical bullion. As such, they both are known to benefit when investor sentiment for safe-haven gold is high.

However, not all precious metals are precious to investors at the same time. Just ask silver. The industrial uses for these metals is a much bigger driver of demand compared to the investment space. For 2026, it’s platinum that will continue to ride gold’s rally and provide investors with plenty of upside based on its strong fundamentals.

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

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(TheNewswire)

VANCOUVER TheNewswire – October 28, 2025 – Providence Gold Mines Inc. (‘Providence’ or the ‘Company ) (TSXV: PHD,OTC:PRRVF) (OTC-PINKS: PRRVF) is very pleased to announce that the Company has staked an additional 100 aces of BLM land are contiguous and parallel to the existing La Dama de Oro Gold trend, thereby increasing the area of potential exploration targets.

The La Dama de Oro gold property was a historical high grade gold producer. The Company has all required permits for Water, Road, Environmental, Plan of Operations, Mill Site, including bulk sample. To date the Property has had no drilling or any modern-day scientific exploration and consequently has not developed or identified any potential NI 43 101 compliant resources .

Ronald A. Coombes, President & CEO states; ‘these 100 acres of newly acquired BLM ground provide excellent additional potential for discovery opportunity at the La Dama de Oro gold and silver property .

The Property:

The La Dama de Oro Property is in the Silver Mountain Mining District, within the structurally complex Eastern California Shear Zone and the intersection with the San Andreas Fault Zone. Bedrock geology includes Mesozoic quartz monzonite that intrudes the Jurassic Sidewinder Volcanics. The structural geology of the region implies a sequence of compressional and extensional events that reactivated favorably oriented zones of weakness for the circulation of hydrothermal fluids. The main zone of mineralization is hosted by the La Dama de Oro Fault, a shallow northeast-dipping oblique-slip fault. The mineralization at the property is classified as a structurally controlled, low-sulfidation epithermal gold-silver vein system. Gold and silver mineralization is associated with multi-phase quartz veining, brecciation, and pervasive hydrothermal alteration along the La Dama de Oro Fault. The largest known vein is 4.5 feet at its widest point and remains open to exploration for over 6,000 feet of strike.

The scientific and technical information contained in this news release has been reviewed and approved by Zachary Black, SME-RM, a Qualified Person as defined under NI 43-101. Mr. Black is a consultant and is independent of Providence Gold Mines Inc.

For more information, please contact Ronald Coombes, President, and CEO of the Company at 1 604 724 2369.

Ronald A. Coombes, President & CEO

Phone: 604 724 2369      Email: roombesresources@gmail.com.com

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Neither the OTCQB and or 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.

All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. All statements, other than statements of historical fact, included herein, including, without limitation, statements relating to the permitting process, future production of Providence Gold Mines, budget and timing estimates, the Company’s working capital and financing opportunities and statements regarding the exploration and mineralization potential of the Company’s properties, are forward-looking statements. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward- looking statements. Important factors that could cause actual results to differ materially from Providence Gold Mines expectations include fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and native groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; and uncertainty as to timely availability of permits and other governmental approvals. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Providence Gold Mines does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statement

Copyright (c) 2025 TheNewswire – All rights reserved.

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The historical Ranger-Page workings and mineralized zones are geologically continuous with the Bunker Hill system

Silver Dollar Resources Inc. (CSE: SLV,OTC:SLVDF) (OTCQX: SLVDF) (FSE: 4YW) is pleased to announce it has signed an asset purchase agreement (the ‘Agreement’) with Bunker Hill Mining Corp., whereby Bunker Hill Mining Corp. and its subsidiary (together, ‘Bunker Hill’) will acquire from Silver Dollar Resources Inc. and its subsidiary (together, ‘Silver Dollar’ or the ‘Company’), the right, title and interest in the assets related to the Ranger-Page Project located in Shoshone County, Idaho, USA (the ‘Target Assets’), which includes Silver Dollar’s 75% interest in the Government Gulch property and its related option rights under the Government Gulch Option and Joint Venture Agreement (the ‘Government Gulch Agreement’) and the Page Mine Mineral Rights Lease and Option Agreement (the ‘Page Mine Agreement’).

Figure 1: Plan map showing combined Bunker Hill – Ranger-Page land package.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7232/271979_39a2aa04d46b4906_001full.jpg

Sam Ash, President and CEO of Bunker Hill Mining, stated: ‘The addition of the Ranger-Page Mines represents another step in our vision to re-establish Bunker Hill as a leading producer in the Silver Valley. The Ranger-Page workings and mineralized zones are geologically continuous with the Bunker Hill system, offering immediate synergies for exploration, development, and potential future production.’

‘Amalgamating the Ranger-Page Project with Bunker Hill Mining is a strategic and logical transaction that aligns perfectly with the plan we contemplated when we acquired the Project last year,’ said Greg Lytle, President and CEO of Silver Dollar. ‘While the transaction has happened faster than expected, we are confident the timing is optimal for both companies. Ranger-Page enhances Bunker Hill’s exploration prospects and provides Silver Dollar with a strong equity position in a near-term producer, benefiting from the upside of the combined assets.’

Figure 2: Cross Section showing the Bunker Hill – Ranger-Page underground workings and target area.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7232/271979_39a2aa04d46b4906_002full.jpg

Strategic Highlights:

  • Consolidated Land Position: The acquisition unites the Ranger-Page and Bunker Hill properties into a contiguous land package, creating one of the largest and most prospective holdings by any single company in the Silver Valley.
  • Exploration Upside: Historical drilling and production data from the Ranger-Page indicate high-grade silver-lead-zinc mineralization along the Page vein system, which remains open at depth and along strike.
  • Infrastructure Synergies: The Ranger-Page Mines’ existing underground workings and surface access points could provide additional flexibility for future mine planning, ventilation, and exploration access to deeper levels of the Bunker Hill system.
  • Complementary to Restart Plan: The acquisition is aligned with Bunker Hill’s ongoing restart of operations at the Bunker Hill Mine, targeted for H1 2026, and enhances the Company’s upside optionality for future resource expansion and mill feed sources.
  • Community benefits: This has the potential to create more local employment opportunities within the Silver Valley and stimulate procurement from regional suppliers in ways that benefit the local communities.

Transaction Summary

Under the terms of the agreement, Bunker Hill agreed to acquire all of Silver Dollar’s interest in the Ranger-Page Project and associated claims from Silver Dollar for total consideration of CAD$3,500,000, payable by the issuance of 23,333,334 Bunker Hill Common Shares at a deemed price of CAD$0.15 per share. The Bunker Hill Common Shares will be subject to a statutory six-month hold period and contractual escrow and will be released in accordance with the following schedule:

Release Date Payment Shares Release Schedule
from Contractual Escrow
6-month anniversary of Closing Date 2,333,333 Shares
9-month anniversary of Closing Date 2,333,333 Shares
12-month anniversary of Closing Date Balance of Shares (18,666,668 Shares)

The Agreement is subject to Bunker Hill’s due diligence review in respect of the title to the Ranger-Page Project within 15 business days of the date of the Agreement and it also includes representations, warranties, covenants and indemnities customary in transactions of this nature. Silver Dollar will, subject to Canadian Securities Exchange acceptance, pay a finder’s fee by the allocation of 1,166,667 of the Bunker Hill Common Shares to each of Kluane Capital FZCO and Canal Front Investments Inc. in respect of the transaction. The finders’ shares will be subject to the same statutory and contractual escrow restrictions as described above.

Closing of the transaction is expected to be completed on or before November 28, 2025.

About the Ranger-Page Project

Located in a world-class silver district, the Ranger-Page land package covers six historic mines and adjoins the Bunker Hill Mining property. The primary target areas are up and down plunge from historic underground mining, along strike where ground induced polarization (IP) surveys have identified anomalies, and where surface trenching identified near surface mineralization. Additional exploration targets have also been identified away from historic mine infrastructure, using soil geochemical data, mapping, and ground IP survey data.

About Bunker Hill Mining Corp.

Bunker Hill is an American mineral exploration and development company focused on revitalizing its historic mining asset: the renowned zinc, lead, and silver deposit in northern Idaho’s prolific Coeur d’Alene mining district. This strategic initiative aims to breathe new life into a once-productive mine, leveraging modern exploration techniques and sustainable development practices to unlock the potential of this mineral-rich region. Bunker Hill Mining Corp. aims to maximize shareholder value by responsibly harnessing the mineral wealth in the Silver Valley mining district, focusing its efforts on this single, high-potential asset. Information about the Company is available on its website, www.bunkerhillmining.com, or within the SEDAR+ and EDGAR databases.

About Silver Dollar Resources Inc.

Silver Dollar is a dynamic mineral exploration company focused on two of North America’s premier mining regions: Idaho’s prolific Silver Valley and the Durango-Zacatecas silver-gold belt. Our portfolio includes the advanced-stage Ranger-Page and La Joya projects, as well as the early-stage Nora project. The Company’s financial backers include renowned mining investor Eric Sprott, our largest shareholder. Silver Dollar’s management team is committed to an aggressive growth strategy and is actively reviewing potential acquisitions with a focus on drill-ready projects in mining-friendly jurisdictions.

For additional information, you can visit our website at silverdollarresources.com, download our investor presentation, and follow us on X at x.com/SilverDollarRes.

ON BEHALF OF THE BOARD

Signed ‘Gregory Lytle’

Gregory Lytle,
President, CEO & Director
Silver Dollar Resources Inc.
Direct line: (604) 839-6946
Email: greg@silverdollarresources.com
179 – 2945 Jacklin Road, Suite 416
Victoria, BC, V9B 6J9

Forward-Looking Statements:

This news release contains forward-looking statements and forward-looking information (collectively, ‘forward-looking statements’) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the closing of the transaction are forward-looking statements. Often, but not always, forward looking information can be identified by words such as ‘pro forma,’ ‘plans,’ ‘expects,’ ‘will,’ ‘may,’ ‘should,’ ‘budget,’ ‘scheduled,’ ‘estimates,’ ‘forecasts,’ ‘intends,’ ‘anticipates,’ ‘believes,’ ‘potential’ or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved.

In making the forward-looking statements in this news release, the Company has made certain assumptions, including without limitation, the receipt of any necessary regulatory approvals in connection with the transaction and the purchaser’s satisfaction with its due diligence review.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, the ability of the Company to obtain any necessary regulatory approvals and the purchaser’s satisfaction with its due diligence review.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this news release except as otherwise required by law.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/271979

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‘Not for distribution to United States newswire services or
for dissemination in the United States.’

Forte Minerals Corp. (‘Forte’ or the ‘Company’) ( CSE: CUAU ) ( OTCQB: FOMNF ) ( Frankfurt: 2OA ) is pleased to announce that it has entered into an agreement for a C$5.7 million strategic investment through a non-brokered private placement of 6,333,333 common shares at C$0.90 per share with a second strategic investor (the ‘Second Strategic Investment’).

Patrick Elliott , President and CEO of Forte Minerals, commented: ‘This is a pivotal moment for Forte. Having a second well-distinguished strategic investor join our shareholder base further validates the strength of our exploration portfolio and the progress we’ve made in advancing drill-ready projects in Peru. This investment adds further depth, local partnership, and momentum as we continue building a pipeline of copper and gold discoveries.’

Investment Overview
The Second Strategic Investment is expected to close on or before November 5, 2025, subject to regulatory approvals. All securities issued will be subject to a statutory four-month-and-one-day hold period under applicable Canadian securities laws. No finder’s fees or commissions will be paid in connection with the financing.

Proceeds from the financing will be used to advance Forte’s portfolio of four exploration projects in Peru. A portion of the proceeds will also be allocated to general working capital and corporate purposes.

In connection with this financing, the Company notes that its First Strategic Investor, which participated in Forte’s July 2025 private placement , has a contractual right to participate in future financings to maintain a 9.9 percent ownership interest.

Should that investor elect to exercise this right in the current financing, they may purchase up to an additional 994,598 common shares at C$0.90 per share, on the same terms. If such participation occurs, total gross proceeds will increase to approximately C$6.6 million through the issuance of up to 7,327,931 common shares.

Strengthening Forte’s Position in Peru
The Second Strategic Investor’s commitment underscores the quality of Forte’s exploration portfolio and reinforces the Company’s credibility as an explorer with deep operational experience and partnerships in Peru. The addition of a second strategic investor within three months strengthens Forte’s base of long-term shareholders and it supports its mission to responsibly advance a 19,000-hectare portfolio of copper and gold assets within the country’s most prospective mineral belts.

‘This is more than an investment,’ said Elliott.

‘It’s a partnership built on a shared vision to unlock the next generation of discoveries that will help sustain Peru’s position as a global leader in copper and gold production.’

ABOUT Forte Minerals CORP.
Forte Minerals Corp. is an exploration company with a strong portfolio of high-quality copper (Cu) and gold (Au) assets in Peru. Through a strategic partnership with GlobeTrotters Resources Perú S.A.C. , the Company gains access to a rich pipeline of historically drilled, high-impact targets across premier Andean mineral belts. The Company is committed to responsible resource development that generates long-term value for shareholders, communities, and partners.

On behalf of Forte Minerals CORP.

(signed) ‘ Patrick Elliott’
Patrick Elliott, MSc, MBA, PGeo
President & Chief Executive Officer
Forte Minerals Corp.
info@forteminerals.com
www.forteminerals.com

Investor Inquiries
Kevin Guichon, IR & Capital Markets
E: kguichon@forteminerals.com
C: (604) 612-9976
Media Contact
Anna Dalaire, VP Corporate Development
E: adalaire@forteminerals.com
T: (604) 983-8847

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Certain statements included in this press release constitute forward-looking information or statements (collectively, ‘forward-looking statements’), including those identified by the expressions ‘anticipate’, ‘believe’, ‘plan’, ‘estimate’, ‘expect’, ‘intend’, ‘may’, ‘should’ and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements relating to the intended use of proceeds of the Strategic Placement. These forward-looking statements and information reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company with respect to the matter described in this press release. Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and risks and uncertainties is contained under ‘Risk Factors and Uncertainties’ in the Company’s latest management’s discussion and analysis, which is available under the Company’s SEDAR+ profile at www.sedarplus.ca, and in other filings that the Company has made and may make with applicable securities authorities in the future.

Forward-looking statements are not a guarantee of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include the continued availability of capital and financing, and general economic, market or business conditions. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. The Company assumes no responsibility to update or revise forward-looking information or statements to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company’s forward-looking statements.

Neither the Canadian Securities Exchange (the ‘CSE’) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e1f4c64c-e2a1-4164-91b7-021141276eb6

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Leading gold analysis firm Metals Focus published its annual Precious Metals Investment Focus report on Saturday (October 25).

The report outlines the investment options available for those interested in leveraging rising demand for precious metals such as gold and silver. The report also highlights key supply and demand trends shaping the precious metals market and driving prices now and over the next 12 months.

Gold surged more than 65 percent from the start of 2025 to its record high of US$4,379.13 per ounce on October 17. Not to be outdone, silver skyrocketed by more than 88 percent to peak at its highest-ever price of US$54.47 per ounce on the same day.

Although prices for both precious metals have since pulled back on profit-taking, Metals Focus believes the conditions that created these record high prices are still very much in play.

US trade policy driving gold prices in 2025

Metals Focus analysts attribute gold’s stellar performance in 2025 to a number of factors largely centered on growing global economic uncertainty and ongoing geopolitical conflicts. Gold’s safe haven status is highly favored in these conditions, attracting both retail and institutional investors as well as central banks.

However, the firm sees US President Donald Trump’s trade policies as the most influential: “In our view, the single most important factor has been uncertainty around US trade policy.”

Trump’s constant trade war waffling has businesses and governments scrambling to keep up and unable to plan for the future. As tariffs increase the price of goods while disrupting supply chains, inflation is becoming stickier. This is baking in more macroeconomic risks into the global economy, and in turn raising the risk for stagflation—an ideal environment for higher gold prices.

The Federal Reserve’s reversal of its monetary policy in mid-September 2025 with its first interest rate cut and the anticipation of further rate cuts to come are further boosting the gold price. The sustainability of growing US debt and the waning strength of the US dollar on the global stage are also price supporting factors for the yellow metal.

Central bank gold buying, which has reached record levels in recent years, also continued to be net positive in 2025, further driving demand. “Put together, these drivers explain why gold has not only reached fresh highs in 2025, but also why pullbacks have been shallow and short-lived, as investors have been rushing to buy dips,” states Metals Focus.

Silver shoots up on liquidity squeeze

The same forces sending gold prices to new heights are also bringing silver along for the ride.

Silver often lags behind its sister metal, and this latest price cycle was no exception. However, investor belief that silver remains undervalued given strong industrial demand and unprecedented tight supply finally pushed the metal to break on through to the other side of a 45-year record high.

Metals Focus also points to the liquidity squeeze in the silver futures market, specifically concerning the COMEX in London. As the immediate supply of silver has not been enough to meet rising demand, the spot price for silver has risen higher than the price of futures contracts, a phenomenon known as backwardation. This creates a squeeze on short sellers who must now buy back silver contracts at higher prices.

The situation amplified silver’s rally in early to mid-October. However, later in the month shipments of silver from New York and China helped to alleviate this pressure.

Gold price outlook for 2026

Looking forward, the trends underlying much of gold’s record-breaking price momentum are expected to remain strong well into next year.

Metals Focus sees the price of gold posting another annual average high of US$4,560 per ounce as it heads toward US$5,000 in 2026, potentially reaching a record US$4,850 in the fourth quarter.

These gains in gold are projected to materialize despite supply side growth. Metals Focus is forecasting a surplus of 41.9 million ounces in 2026, up 28 percent year-over-year. The firm sees gold mine production reaching another record high in 2026 at the same time that gold recycling could climb by 6 percent to a 14-year high in jewellery demand is likely to be affected by high prices, low consumer confidence, and economic uncertainty.

What will move gold prices higher in 2026?

Gold investors should take cues from interest rate moves, inflation levels, strength or weakness in the US dollar and sentiment surrounding the independence of the Federal Reserve. Of course, US trade policy will continue to be a main theme for precious metals over the next 12 months.

“As we have witnessed since the beginning of the Trump 2.0 administration, the abrupt and often unpredictable nature of US policy moves and the resulting uncertainty for the global trade system, and in turn the global economy, is expected to be a key driver of sentiment towards gold,” stated the firm.

Further driving demand, central banks around the world are expected to remain net buyers of safe-haven gold as the global push toward de-dollarization continues.

Gold and silver price outlook

Chart via Metals Focus, Bloomberg

Silver price outlook for 2026

As for silver, the white metal will continue to be seen as a more affordable alternative to gold. Metals Focus is looking for silver to average US$57 per ounce next year and even take a run at the US$60 level in mid-to-late 2026.

Silver has not only benefitted from safe-haven investor demand and strong industrial demand but also tight supply. Yet, the firm notes that the ongoing supply deficit for silver is expected to fall from 143.6 million ounces in 2024 to 63.4 million ounces in 2025. That figure is expected to shrink further to 30.5 million ounces in 2026.

Nevertheless, the silver market remains in a supply deficit at a time when demand is strong. “We therefore remain bullish towards silver for the rest of this year and 2026,” noted the report’s authors, who expect silver to continue outperforming gold at least in the first half of the new year.

In response, the gold:silver ratio has the potential to continue falling in 2026. However, Metals Focus believes the market will see this trend reverse in the back half of the year as silver loses some steam.

Gold:silver ratio

Chart via Metals Focus, Bloomberg

Investor takeaway

Overall, Metal Focus is confident the precious metals bull market will continue throughout the remainder of 2025 and into 2026. Gold is especially benefitting from its safe-haven status at a time of heightened macroeconomic and geopolitical uncertainty. Silver is tracking gold’s ascent for the same reasons, in addition to tight above ground supply and sustained industrial demand.

For those who think they’ve missed out on the gains to be made in this latest precious metals bull cycle, there’s still plenty of upside to be had in the gold and silver markets in Q4 2025 and heading into 2026.

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

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Here’s a quick recap of the crypto landscape for Monday (October 27) as of 9:00 a.m. UTC.

Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ether price update

Bitcoin (BTC) was priced at US$115,014, a 0.9 percent increase in 24 hours. Its lowest valuation of the day was US$113,083, and its highest was US$116,032.

Bitcoin price performance, October 27, 2025.

Chart via TradingView

Bitcoin (BTC) climbed to two-week highs on Monday, breaking above US$115,600 as investors priced in expectations of an upcoming Federal Reserve interest rate cut. The cryptocurrency has now risen for five consecutive sessions, with Sunday’s 2.6 percent gain pushing BTC past the 50-day exponential moving average at US$114,176.

Technical analysts see the move as a potential prelude to a fresh rally, contingent on continued market support and Fed signals.

Trader Ted Pillows noted on X that Bitcoin has “fully reclaimed the $114,000 support zone” and emphasized that the next key hurdle is US$118,000. He added that, if momentum holds, “a new ATH could happen in 1–2 weeks.”

Market watchers are now closely monitoring the Fed meeting for confirmation of rate-cut expectations, which could provide further bullish fuel for BTC and broader crypto markets.

Ether (ETH) was priced at US$4,167.45, a 1.5 percent increase in 24 hours. Its lowest valuation of the day was US$4,053.35, and its highest was US$4,246.23.

Altcoin price update

  • Solana (SOL) was priced at US$200.39, trading flat over the last 24 hours. Its lowest valuation of the day was US$197.24, and its highest was US$205.03.
  • XRP was trading for US$2.62, a decrease of 0.7 percent over the last 24 hours. Its lowest valuation of the day was US$2.60, while its highest was US$2.67.

ETF data and derivatives trends

Bitcoin derivatives metrics indicate ongoing caution and positioning for downside risk.

Liquidations for Bitcoin contracts have totaled approximately US$6.42 million in the last four hours, the majority of which were long positions, reflecting short-term selling pressure.

Ether liquidations showed a similar pattern, with long positions dominating US$15.55 million in liquidations, though long and short liquidations were more evenly split.

Futures open interest for Bitcoin fell 0.50 percent to US$75.51 billion, and Ether futures declined 0.57 percent to US$49.89 billion, suggesting modest rotation or renewed altcoin activity.

The perpetual funding rate for Bitcoin was 0.008 and 0.009 for Ether, indicating a mild long bias among remaining positions. Bitcoin’s relative strength index stood at 54.84, reflecting neutral-to-moderately bullish momentum and room for price growth before overextended conditions.

Today’s crypto news to know

Binance eyes US return after Trump pardon for CZ

Binance is weighing a US market re-entry following President Trump’s pardon of founder Changpeng Zhao, exploring options to consolidate its American affiliate or allow direct access for US investors, Bloomberg reported.

The pardon clears Zhao’s 2023 conviction for failing to maintain anti-money laundering controls, restoring his ability to lead financial ventures.

Hours after the announcement, Zhao expressed ambitions to make the US “the Capital of Crypto” and expand Web3 globally. Binance’s BNB token jumped 8 percent in response.

Zhao currently oversees a blockchain ecosystem with around US$8.7 billion in assets, ranking third behind Ethereum and Solana.

Japan’s first regulated Yen Stablecoin launches

JPYC launched Japan’s first regulated yen-pegged stablecoin on October 27.

The stablecoin aligns with Japan’s Payment Services Act, requiring full reserve backing in yen deposits and government bonds. JPYC aims to issue 10 trillion yen (US$67 billion) over three years, challenging the US-dominated stablecoin market where USDC holds roughly US$40 billion.

The framework prioritizes consumer protection and financial stability, lessons drawn from the 2022 TerraUSD collapse.

JPYC offers zero-fee issuance, redemption, and transfers, earning income via interest on reserves in deposits and government bonds. Each transfer is capped at 1 million yen under the regulatory structure.

American Bitcoin boosts strategic reserve to 3,865 BTC

American Bitcoin (ABTC) expanded its strategic reserve to 3,865 BTC, acquiring 1,414 BTC through both open-market purchases and in-house mining, according to a company release.

The accumulation lifts the company’s Satoshis per Share (SPS) metric to 418, a 52 percent increase since September 1.

Integrated mining enables ABTC to secure BTC at lower costs than external acquisitions, giving it a structural advantage over competitors.

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

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

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Apex Resources Inc. (TSXV: APX) (OTCID: SLMLF) (‘Apex’ or the ‘Company’) is pleased to announce the commencement of a drilling program at its Jersey Emerald Property (the ‘Property’), located in southern British Columbia. This program will target deposits of critical minerals, specifically tungsten and zinc.

The drilling campaign will encompass several holes designed to explore a new area of tungsten mineralization, south of the area of historic mining on the Property and south of the current tungsten resource.

The Property, located close to a major highway and within 20 km of the Metaline Falls/Nelway Canada-US border crossing, has historical significance as an accessible site rich in tungsten and other critical minerals, making it an ideal candidate for further exploration to support the growing market needs.

This initiative is critical as demand for tungsten continues to rise due to its essential applications in various industries, including aerospace, defense, and manufacturing.

The increasing global emphasis on securing critical minerals, including tungsten, aligns with Apex’s strategic objectives. The Company aims to position itself as a key player in the supply chain of essential materials necessary for technological advancements.

Apex will provide regular updates on the progress of the drilling program, including results and findings that may impact overall project value. The team is committed to responsible exploration practices and maintaining open communication with stakeholders.

Lithium Creek Project Option Agreement Amendments

The Company also announces that terms of the option agreement on the Lithium Creek Project in Nevada (the ‘Option Agreement’) have been amended by the parties as follows:

  1. The cash option payment of US$150,000 that was due on August 25, 2025 was reduced to US$75,000;

  2. The exploration and development expenditures due to have been completed on or before August 25, 2025 were reduced from US$700,000 to US$434,000;

  3. The exploration and development expenditures due to be completed on or before August 25, 2026 have been increased from US$1,200,000 to US$1,266,000; and

  4. The Company is to issue 2,700,000 common shares to the optionor within five (5) business days following receipt of TSX Venture Exchange approval.

All other terms of the Option Agreement remain in full force and effect.

About Apex Resources Inc.

Apex is a Vancouver-based exploration company with a suite of precious and critical minerals projects and historic mines located in the United States and Canada.

The Jersey-Emerald Property is wholly owned by Apex and encompasses the historic Jersey Lead-Zinc Mine – British Columbia’s second largest historic zinc mine, and the Emerald Tungsten Mine – Canada’s second largest historic tungsten mine, both located in southern British Columbia.

The Lithium Creek Project is Apex’s flagship project with placer claims covering hundreds of square miles within the aerially extensive Fernley, Humboldt, and Carson Sinks, and includes widespread naturally flowing lithium brine groundwater. The Lithium Creek Project is strategically located near the City of Reno and within 40 minutes of the principle North American battery hub, hosting the Tesla Gigafactory and other key industry players in the Lithium Ion battery supply chain.

On Behalf of the Board of Directors of

Apex Resources Inc.
Ron Lang,
President & CEO

Ph. +1(250) 212-7119 or info@apxresources.com website: www.apxresources.com

The technical information in this news release, prepared in accordance with Canadian National Instrument standards (‘NI 43-101’), has been reviewed and approved by Linda Caron, P. Eng., a Qualified Person, who is independent of Apex.

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

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This news release may contain forward-looking information within the meaning of applicable securities laws (‘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. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund exploration work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Project; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in conducting work programs; the risk of environmental contamination or damage resulting from Apex’s operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/272007

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Homerun Resources Inc. (TSXV: HMR,OTC:HMRFF) (OTCQB: HMRFF) (‘Homerun’ or the ‘Company’) announces that the Company has submitted its formal application for conditional approval of the previously announced $6-million financing with a single institutional investor. The Company is now awaiting conditional approval from the TSX Venture Exchange.

The Company also reports, that further to its October 6, 2025, news release, the Company is oversubscribed for its $3-million unit private placement at $1.00. This financing will close after the above financing, as several subscribers have requested that the closing of the $6-million institutional financing be a precedent, and so the Company has requested and received approval from the TSX Venture Exchange to extend the closing of that financing for a standard 30-day period to November 24, 2025.

Both financings are anticipated to close in the immediate term, subject to TSX-V approval.

On behalf of the Board of Directors of
Homerun Resources Inc.

‘Brian Leeners’

Brian Leeners, CEO & Director
brianleeners@gmail.com / +1 604-862-4184 (WhatsApp)

Tyler Muir, Investor Relations
info@homerunresources.com / +1 306-690-8886 (WhatsApp)

FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
The information contained herein contains ‘forward-looking statements’ within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be ‘forward-looking statements’.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/271921

News Provided by Newsfile via QuoteMedia

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Canadian company PMET Resources (ASX:PMT, TSX:PMET, OTCQX:PMETF) has completed a lithium-only feasibility study on the CV5 deposit of its Shaakichiuwaanaan lithium project in Northern Quebec.

The company said that the feasibility study confirms that the project is a large-scale and lifelong operation, with CV5’s maiden reserve updated to 84.3 million tonnes (Mt) at 1.26 percent lithium oxide or about 2.62 Mt lithium carbonate equivalent (LCE) in probable reserves.

Results also show that there is still potential to upgrade and expand resources at CV5 and its nearby CV13 deposit, which currently hold a total resource of 108.0 million tonnes at 1.40 percent indicated and 33.4 at 1.33 percent inferred.

“Our large scale and long-life project is ideally suited to support the emerging American, European, and Asian lithium raw materials supply chains,” commented CEO and President Ken Brinsden.

“There are very few projects of this size & scale, quality, and low production cost that can assist in underwriting the expected capital investment supporting new supply chains and demand growth in western markets.”

Located in Quebec’s Eeyou Istchee James Bay region, Shaakichiuwaanaan is recognised as the largest lithium pegmatite mineral resource in the Americas.

It is also among the largest lithium mines in the world, with potential to become the second largest following the Greenbushes lithium operations in Western Australia.

Greenbushes is owned by Albemarle (NYSE:ALB) and was recorded with an estimated 0.21 metric tonnes per annum lithium production in 2023.

PMET is targeting a final investment decision for Shaakichiuwaanaan for the second half of 2027, hoping that “the overall market supply-demand balance tightens over the coming years.”

Researchers found that the project can have an annual production of up to 800,000 tonnes of lithium-rich rock, along with pollucite, tantalite, and cesium.

Brinsden said that about 20 percent of the jobs created at Shaakichiuwaanaan will be allotted to workers at the Cree territory.

PMET Resources was formerly Patriot Battery Metals. The company officially changed its name in September.

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

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Ed Steer of Ed Steer’s Gold and Silver Digest shares his thoughts on silver’s run past US$50 per ounce, saying that in his view the bull market is just getting started.

‘One way or another we’re going to run into a supply/demand brick wall, and when that day happens we could see triple-digit silver prices in a very, very short period of time,’ he said.

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

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