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Top 5 Copper Reserves by Country

Investing 7 Mins Read

Copper has become a hot topic due to its role in the green energy transition and its necessity for urbanization. However, the lack of incoming supply in the long term has experts concerned.

Due to its importance in construction, energy transmission and new technologies, copper is a critical metal needed to power the future of our society. However, mined supply has not kept pace with demand, with few new operations coming online, and older mines facing decreasing grades and lower outputs.

The term “peak copper” was coined because some experts believe that copper reserves may be diminishing. According to the US Geological Survey (USGS), more than 700 million metric tons of copper have been mined throughout history, and current economic global copper reserves stand at 980 million metric tons.

Nearly all of that mined copper is still in circulation, as the red metal’s recycling rate is higher than that of any other engineering metal, but it is still not enough to keep up with escalating demand. As a result, it’s prudent to know the top copper reserves by country, especially when considering investing in the copper mining industry.

Reserve data for this article was sourced from the USGS’s 2025 Mineral Commodity Summary and supplemented with datasets from Mining Data Online (MDO) and the UN Comtrade Database.

Top 5 copper reserves by country

The countries with the largest copper reserves are Chile, Australia, Peru, the Democratic Republic of Congo (DRC) and Russia. These five countries hold more than 55 percent of the world’s total copper reserves and will be critical to a world with soaring demand for copper.

Read on to learn about these copper kingpins.

1. Chile

Copper reserves: 190 million metric tons

Chile holds the largest copper reserves globally at 190 million metric tons, nearly as much as Australia and Peru hold combined. Additionally, Chile is also the world’s top copper producer, with its 5.3 million metric tons of copper in 2024 representing nearly a quarter of global output.

The mining industry is essential to the Chilean economy, making up more than 50 percent of the country’s exports and contributing US$40 billion of its GDP in 2023. Copper alone accounting for more than US$29 billion of that total.

Due to the sheer quantity of copper in the country, it should come as no surprise that Chile is home to the world’s largest copper mine, Escondida. According to MDO, Escondida produced 927,000 metric tons of copper in concentrate in 2024 and sits atop proven and probable copper reserves of 37.62 million metric tons. The mine is a 57.5/30/12.5 joint venture between BHP (ASX:BHP,NYSE:BHP,LSE:BHP), Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) and Japan’s JECO.

2. Australia

Copper reserves: 100 million metric tons

Australian copper reserves are pegged at 100 million metric tons, tying it for the second largest country by copper reserves. The resource industry is an essential sector in Australia, contributing AU$385 billion during the 2024/2025 fiscal year. Of that, copper was the sixth largest contributor with AU$13.2 billion, a AU$1.8 billion increase over 2023/2024.

While Australia hosts significant copper reserves, it lags the other countries on the list with similarly sized reserves in terms of production at 800,000 metric tons in 2024. More than a quarter of that came from BHP’s Olympic Dam mine in South Australia, which produced 216,000 metric tons of copper cathode. The polymetallic mine contains substantial proven and probable copper reserves totaling 10.68 million metric tons.

Another significant operation in Australia is Newmont’s (TSX:NGT,NYSE:NEM,ASX:NEM) Cadia Valley mine, which hosts probable reserves of 3.1 million metric tons of contained copper. Cadia Valley produced 87,000 metric tons of copper in concentrate in 2024.

2. Peru

Copper reserves: 100 million metric tons

Copper reserves in Peru stand at 100 million metric tons, tying it with Australia for the second largest copper country. Much like its neighbor Chile, copper is an essential part of Peru’s economy, accounting for 49 percent of the value of its US$47.7 billion in mining exports.

Peru is home to some of the world’s biggest mining operations, and produced 2.6 million metric tons of copper last year. Two mines accounted for a third of the country’s total output.

The top producer in the country is the Cerro Verde Complex, a 55/21/19.6 venture with Freeport-McMoRan (NYSE:FCX), Sumitomo Metal Mining (TSE:5713) and Minas Buenaventura (NYSE:BVN). Cerro Verde hosts hosts proven and probable reserves of 11.45 million metric tons of copper and produced 949 million pounds of copper metal in concentrate in 2024.

Not to be outdone, the second highest is Antamina, a 33.75/33.75/22.5/10 joint venture between BHP, Glencore (LSE:GLEN,OTC Pink:GLCNF), Teck Resources (TSX:TECK.B,TSX:TECK.A,NYSE:TECK) and Mitsubishi (TSE:8058). Last year, output at the mine fell just short of Cerro Verde’s at 941 million pounds of copper in concentrate. Antamina hosts a proven and probable reserve of 4.53 million metric tons of contained copper.

The mine with the largest copper reserves in Peru is Southern Copper’s (NYSE:SCCO) Toquepala mine, home to 13.79 million metric tons of copper in proven and probable reserves. The mine produced 496 million pounds of copper in concentrate last year.

4. Democratic Republic of Congo

Copper reserves: 80 million metric tons

Copper reserves in the Democratic Republic of Congo stood at 80 million metric tons in 2024, making it the fourth largest country by copper reserves. The DRC’s economic copper reserves have seen a staggering rise in recent years, climbing from an estimated 19 million metric tons in 2019.

The mining sector has been critical to GDP growth in the DRC, with copper being the largest contributor. World Bank reports that the extraction sector has outpaced other segments of the DRC’s economy, increasing 12.8 percent in 2024, while non-mining sectors grew by only 3.2 percent.

According to data from the United Nations, in 2023 the DRC exported US$17 billion in refined copper and unwrought alloys, a large jump from US$7.34 billion in 2019. The country’s copper ore exports contributed US$2.16 billion in 2023, nearly double the US$1.11 billion four years prior.

Among the contributing factors in the rise in mining and export activity has been the development of the Lobito Corridor, which connects mineral-rich regions in Zambia, the DRC and Angola to the port at Lobito in Angola.

This link allows greater access for large-scale operations like Ivanhoe Mines (TSX:IVN) and Zijin Mining’s (HKEX:2899,SHA:601899) Kamoa-Kakula complex in the Southern DRC. One of the largest copper operations in the world, Kamoa-Kakula hosts a probable reserve of 17.69 million metric tons of contained copper and produced 964 million pounds of copper in concentrate in 2024.

4. Russia

Copper reserves: 80 million metric tons

Russia’s copper reserves are estimated to be 80 million metric tons, tying it with the DRC. While commodities are important to the Russian economy, contributing US$417 billion in 2024, the metals sector represented 15 percent of that total at US$60 billion.

Russia has been under significant sanctions since it invaded Ukraine in February 2022. According to the UN Comtrade Database, Russia’s copper exports from in 2021 were valued at US$5.98 billion.

In 2024, Russia produced 930,000 metric tons of copper, an increase from the 890,000 metric tons produced in 2023. Among the main contributing factors was a ramp-up in production at Udokan Copper’s Udokan mine in Siberia, which was expected to produce 135,000 metric tons in 2024 and, according to the mine’s website, hosts a JORC-compliant copper resource of 26.7 million metric tons.

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

This post appeared first on investingnews.com

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Grande Portage Applies for Road Easement from State of Alaska

Investing 6 Mins Read

Easement to Facilitate Near-Term Exploration Logistics for New Amalga Gold Project & Secure Road Route Spanning One-Third of Distance from Public Highway to Project Site

Grande Portage Resources Ltd. (TSXV:GPG)(OTCQB:GPTRF)(FSE:GPB) (‘Grande Portage’ or the ‘Company’) is pleased to announce that it has applied for a State of Alaska easement related to its New Amalga Gold project in southeast Alaska. This easement application incorporates a proposal for development of approximately 1.3 miles (2 km) of gravel road along with two equipment staging areas.

Extending from Glacier Highway across State of Alaska property, development of this road segment will greatly facilitate the Company’s helicopter-supported exploration efforts by establishing an equipment staging area much closer to the project site. The helicopter shuttle distance for transporting drilling equipment and supplies would be reduced by over 60% for each cycle compared to the previous staging area located in the Juneau Mendenhall Valley suburbs.

Ian Klassen, President and CEO comments: ‘The submission of this easement application is an important step for the project. The proposed road development and equipment staging areas will not only enhance the efficiency of our exploration efforts but will also reduce the impact of helicopter noise on residential areas of the Mendenhall Valley. Furthermore, this road segment will comprise a significant proportion of the overall road development required to ultimately establish surface access to the project site.’

This initial road segment would span approximately one-third of the total distance from Glacier Highway to the project site, ending at the boundary between State of Alaska and US Forest Service land. Further road development will require separate federal environmental review and permitting. Baseline environmental studies are ongoing in order to support future federal submissions.

The future facilities at the project site are envisioned to include a small-footprint underground mining operation without an ore processing plant or tailings disposal landfill. Due to the resource location near tidewater and less than 4 miles (6.5km) from existing paved highway (Fig. 1), the Company considers off-site processing by a third party to be the most favorable configuration for the project.

Kyle Mehalek, P.E.., is the QP within the meaning of NI 43-101 and has reviewed and approved the technical disclosure in this release. Mr. Mehalek is independent of Grande Portage within the meaning of NI 43-101.

About Grande Portage:

Grande Portage Resources Ltd. is a publicly traded mineral exploration company focused on advancing the New Amalga Mine project, the outgrowth of the Herbert Gold discovery situated approximately 25 km north of Juneau, Alaska. The Company holds a 100% interest in the New Amalga property. The New Amalga gold system is open to length and depth and is host to at least six main composite vein-fault structures that contain ribbon structure quartz-sulfide veins. The project lies prominently within the 160km long Juneau Gold Belt, which has produced over eight million ounces of gold.

The Company’s updated NI#43-101 Mineral Resource Estimate (MRE) reported at a base case mineral resources cut-off grade of 2.5 grams per tonne gold (g/t Au) and consists of: an Indicated Resource of 1,438,500 ounces of gold at an average grade of 9.47 g/t Au (4,726,000 tonnes); and an Inferred Resource of 515,700 ounces of gold at an average grade of 8.85 g/t Au (1,813,000 tonnes), as well as an Indicated Resource of 891,600 ounces of silver at an average grade of 5.86 g/t Ag (4,726,000 tonnes); and an Inferred Resource of 390,600 ounces of silver at an average grade of 7.33 g/t silver (1,813,000 tonnes). The MRE was prepared by Dr. David R. Webb, Ph.D., P.Geol., P.Eng. (DRW Geological Consultants Ltd.) with an effective date of July 17, 2024.

ON BEHALF OF THE BOARD

‘Ian Klassen’
Ian M. Klassen
President & Chief Executive Officer
Tel: (604) 899-0106
Email: Ian@grandeportage.com

Cautionary Statement Regarding Forward-Looking Information

This news release includes certain ‘forward-looking statements’ under applicable Canadian securities legislation. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as ‘believes’, ‘anticipates’, ‘expects’, ‘estimates’, ‘may’, ‘could’, ‘would’, ‘will’, or ‘plan’. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties as described in the Company’s filings with Canadian securities regulators. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Please note that under National Instrument 43-101, the Company is required to disclose that it has not based any production decision on NI 43-101-compliant reserve estimates, preliminary economic assessments, or feasibility studies, and historically production decisions made without such reports have increased uncertainty and higher technical and economic risks of failure. These risks include, among others, areas that are analyzed in more detail in a feasibility study or preliminary economic assessment, such as the application of economic analysis to mineral resources, more detailed metallurgical and other specialized studies in areas such as mining and recovery methods, market analysis, and environmental, social, and community impacts. Any decision to place the New Amalga Mine into operation at levels intended by management, expand a mine, make other production-related decisions, or otherwise carry out mining and processing operations would be largely based on internal non-public Company data, and on reports based on exploration and mining work by the Company and by geologists and engineers engaged by the Company.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED UNDER THE POLICIES OF THE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE

Source

Click here to connect with Grande Portage Resources Ltd. (TSXV:GPG)(OTCQB:GPTRF)(FSE:GPB) to receive an Investor Presentation

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Investing

OPINION — Goldenomics 104: Trump’s Tariffs and Gold

Investing 6 Mins Read

By Darren Brady Nelson

One of former President Ronald Reagan’s most famous quotes is “trust, but verify.” He made that remark on December 8, 1987, to then-Soviet General Secretary Mikhail Gorbachev as the audience gathered on that historic day for a nuclear arms treaty.

In the wake of US President Donald Trump’s April “Liberation Day” tariffs, it is time once again to “trust, but verify.” That is, that the economy is still on track for a new “golden age of America.” And that we will continue in a “golden age,” pun intended, for investing in gold.

Source: the White House.

Tariffs are not inflation

Trump’s tariffs have added to uncertainty, but they are not inflationary per se. The famous Nobel Prize-winning monetary economist, Milton Friedman, summarized what he had learned from the most comprehensive empirical study ever undertaken on inflation in the following quote:

“Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output. A steady rate of monetary growth at a moderate level [may allow] little inflation and much growth.”

Another monetary economist of the 20th century, but not quite as famous as Friedman, was Ludwig von Mises. He agreed with the first half of the quote above, but not the second. He also supported a gold standard, as seen below, as protection from inflation and accompanying boom-bust cycles:

“All economic activity is based upon an uncertain future. It is therefore bound up with risk.” Thus: “There is no such thing as a safe investment.” But: “The…gold standard alone is a truly effective check on the power of the government to inflate the currency.”

Tariffs are just taxes

A student of Mises was Murray Rothbard. The latter wrote in Power and Market that the burden of a sales tax falls entirely on the supplier and supply chain, not the consumers, yet tariffs inexplicably do the opposite. The former is closer to the truth, depending on elasticities.

Media pundits often claim that businesses pass forward tax increases, like tariffs, to consumers. This is a half-truth. The other half of this half-truth is that businesses take a hit, so that they invest and hire less. This means foreign businesses, more than American consumers.

And rather than just a 50/50 split between supply and demand, as per the graph below, economics and history show it is more like an 80/20 situation. That 80 includes a pass backward in the supply chain. This means foreign supply chains, more than American supply chains.

Source: SlidePlayer.

Rationale for Trump’s tariffs

Trump’s tariffs have created extra uncertainty, but not nearly as much as the neoliberals, on the left or right, would suggest by their outrage and alarm. Firstly, imports and import elasticities are relatively low in the US.

Secondly, Trump’s strategy is consistent with the same three exceptions to free trade, and in the same order, as did the classical liberal, and godfather of free trade economics, Adam Smith.

The first exception is not only about directly decoupling from communist China, for targeted defense purposes, but also indirectly, for broader strategic purposes, by weakening the Communist Party of China to the point of regime change, as Reagan did to the USSR.

The second and third exceptions, of reciprocity and retaliation, are part of the “art of the deal.” This three-pronged strategy, despite the outcry as being anti-free trade, is not only trying to put America first, but also to restore genuine free trade. It is a well-calculated risk.

Impact of these tariffs

According to the US Bureau of Labor Statistics (BLS) in its press release of July 17: “Import prices ticked up 0.1% in June, following a decrease of 0.4% in May, and an advance of 0.1% in April.”

The BLS added that: “Prices for US imports fell 0.2% from June 2024 to June 2025, matching the 12- month decline for the year ended May 2025. Those were the largest annual decreases since the index fell 0.9% for the year ended February 2024.”

The BLS also provided an interactive chart of the Import Price Index (IPI). Highlights from the Trump 47 era for “all imports” include: IPI increased, but at a declining rate, by 1.7 percent in February, 0.8 percent in March and 0.1 percent in April; then decreased by -0.2 percent in May and -0.2 percent in June.

“Consumer goods” are also illuminating: IPI dropped from 1.2 percent in November 2024 to -0.8 percent in March 2025; then sunk further to -1.2 percent in May before rising to -0.6 percent in June, but still negative.

The story with “industrial supplies and materials” was that: IPI grew at 5.7 percent in February, then plunged to 1.9 percent in March; followed by shrinking down into negative territory of -2 percent in April, -3.6 percent in May and -3.2 percent in June.

Source: BLS.

Conclusion

Many Main Street investors, and even those on Wall Street, are aware that gold is a great hedge against both inflation and uncertainty; and it is. But few on either streets also know that it is a great investment that outperforms the S&P Index; and it does.

Gold is very rare indeed, and not just in terms of its physical scarcity, but in its unique ability to be both a safe-haven investment and a performance investment as well. The two charts at the end demonstrate gold’s protection and gold’s growth over the decades.

Therefore, for American investors it is still the right time to “trust” in gold growth to come, “but verify” through gold protection in the meantime. Thus, when one has gold, “heads” you win and “tails” you don’t lose.

Sources: FRED (CPI) (GDP) (M3); Shiller Data (S&P); World Bank (gold).

About Darren Brady Nelson

Darren Brady Nelson is chief economist with Fisher Liberty Gold and policy advisor to The Heartland Institute. He previously was economic advisor to Australian Senator Malcolm Roberts. He authored the Ten Principles of Regulation and Reform, and the CPI-X approach to budget cuts.

Read the rest of the series: Goldenomics 101: Follow the Money, Goldenomics 102: The Shadow Price of Gold, Goldenomics 103: Gold Protects and Performs.

This post appeared first on investingnews.com

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Cracker Barrel shares plummet after pushback on new logo, brand refresh

Business 3 Mins Read

Shares of Cracker Barrel Old Country Store plummeted roughly 10% on Thursday after the restaurant unveiled its new logo earlier this week as part of a larger brand refresh.

The new logo removes the image of a man leaning against a barrel that was prominently featured in the original, leaving behind just the words Cracker Barrel against a yellow background. The phrase “old country store” has also been removed.

The company said the colors in the logo were inspired by the chain’s scrambled eggs and biscuits.

Cracker Barrel’s new logo.Cracker Barrel

The change is part of a “strategic transformation” to revitalize the brand that started back in May 2024. Under that mission, Cracker Barrel’s brand refresh includes updates to visual elements, restaurant spaces and food and retail offerings.

Cracker Barrel said in March that the refresh will still maintain the brand’s “rich history of country hospitality” and “authentic charm that has made the brand a beloved destination for generations of families.”

“We believe in the goodness of country hospitality, a spirit that has always defined us. Our story hasn’t changed. Our values haven’t changed,” Chief Marketing Officer Sarah Moore said in a media release.

However, many social media users have criticized the new logo, especially those in conservative circles. The president’s son, Donald Trump Jr., amplified a post on Wednesday suggesting that the logo change was led by CEO Julie Felss Masino to erase the American tradition aspect of the branding and make it more general, as a way of leaning into diversity, equity and inclusion efforts.

Conservative activist Robby Starbuck added his commentary on Thursday, writing in a post on X, “Good morning @CrackerBarrel! You’re about to learn that wokeness really doesn’t pay.”

The company has a relatively small market cap of about $1.2 billion compared with other restaurant chains.

Customers have also complained on social media about the interior redesign of many Cracker Barrel restaurants, saying that the new decor favors a more sterile and modern style over its tried-and-true country feel.

On the restaurant’s latest earnings call in June, Masino said Cracker Barrel had completed 20 remodels and 20 refreshes. She said the company will be sharing more information about the remodeling initiative in September.

“Employees had given us great feedback about working in those newly remodeled and refreshed stores and guests continue to tell us that they’re lighter, brighter, more welcoming and they’re enjoying them,” Masino said on the call.

Cracker Barrel is not the only stock to see large swings based on political social media posts.

Earlier this month, shares of American Eagle soared after Trump posted that an ad featuring Sydney Sweeney, which faced significant social media pushback from the left, was “the ‘HOTTEST’ ad out there.”

Back in 2023, Anheuser-Busch InBev faced heavy criticism from conservatives after a collaboration between Bud Light and social influencer Dylan Mulvaney, who is transgender.

This post appeared first on NBC NEWS

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Walmart boosts sales outlook as it says tariff costs are rising

Business 7 Mins Read

Walmart on Thursday raised its full-year earnings and sales outlook as its online business posted another quarter of double-digit gains, even as the company said costs are rising from higher tariffs.

The big-box retailer topped Wall Street’s quarterly sales estimates but fell short of earnings expectations, the first time it missed on quarterly earnings since May 2022. The company said it felt pressure on profits for the period, including from some one-time expenses, such as restructuring costs, pricier insurance claims and litigation settlements.

Walmart said it now expects net sales to grow 3.75% to 4.75% for the fiscal year, up from its previous expectations of 3% to 4%. It raised its adjusted earnings per share outlook slightly to $2.52 to $2.62, up from a prior range of $2.50 to $2.60 per share.

In an interview with CNBC, Chief Financial Officer John David Rainey said the company is working hard to keep prices low — including speeding up imports from overseas and stepping up the number of Rollbacks, or limited-time discounts, in its stores.

“This is managed on an item-by-item and category-by-category basis,” he said. “There are certainly areas where we have fully absorbed the impact of higher tariff costs. There are other areas where we’ve had to pass some of those costs along.”

But he added “tariff-impacted costs are continuing to drift upwards.”

Even so, Rainey said Walmart hasn’t seen a change in customer spending. For example, sales of private label items, which typically cost less than national brands, were roughly flat year over year, he said.

“Everyone is looking to see if there are any creaks in the armor or anything that’s happening with the consumer, but it’s been very consistent,” he said. “They continue to be very resilient.”

Yet on the company’s earnings call, CEO Doug McMillon said middle- and lower-income households have been more sensitive to tariff-related price increases, particularly in discretionary categories.

“We see a corresponding moderation in units at the item level as customers switch to other items, or in some cases, categories,” he said.

Here’s what the big-box reported for the fiscal second quarter compared with what Wall Street expected, according to a survey of analysts by LSEG:

Walmart shares fell about 2% in premarket trading Thursday.

Walmart’s net income jumped to $7.03 billion, or 88 cents per share, in the three-month period that ended July 31, compared with $4.50 billion, or 56 cents per share, in the year-ago quarter.

Revenue rose from $169.34 billion in the year-ago quarter.

Comparable sales for Walmart U.S. climbed 4.6% in the second quarter, excluding fuel, compared with the year-ago period, as both the grocery and health and wellness category saw strong growth. That was higher than the 4% increase that analysts expected. The industry metric, also called same-store sales, includes sales from stores and clubs open for at least a year.

At Sam’s Club, comparable sales jumped 5.9% excluding fuel, higher than the 5.2% that analysts anticipated.

E-commerce sales jumped 25% globally and 26% in the U.S., as both online purchases and advertising grew. In the U.S., Walmart said sales through store-fulfilled delivery of groceries and other items grew nearly 50% year over year, with one-third of those orders expedited. The company charges a fee for some of those faster deliveries, and others are included as a benefit of its subscription-based membership program, Walmart+.

Its global advertising business grew 46% year over year, including Vizio, the smart TV maker it acquired for $2.3 billion last year. Its U.S. advertising business, Walmart Connect, grew by 31%.

As Walmart’s online business drums up more revenue from home deliveries, advertising and commissions from sellers on its third-party marketplace, e-commerce has become a profitable business. The company marked a milestone in May — posting its first profitable quarter for its e-commerce business in the U.S. and globally.

Rainey said on Thursday that Walmart doubled its e-commerce profitability in the fiscal second quarter from the prior quarter.

In the U.S., shoppers both visited Walmart more and spent more on those trips during the quarter. Customer transactions rose 1.5% year over year and average ticket increased 3.1% for Walmart’s U.S. business.

As the largest U.S. retailer, Walmart offers a unique window into the financial health of American households. As higher duties have come in fits and starts — with some getting delayed and others going into effect earlier this month — Wall Street has tried to understand how those costs will ripple through the U.S. economy.

Walmart warned in May that it would have to raise some prices due to higher levies on imports, even with its size and scale. The company’s comments drew the ire of President Donald Trump, who said in a social media post that Walmart should “EAT THE TARIFFS.”

About a third of what Walmart sells in the U.S. comes from other parts of the world, with China, Mexico, Canada, Vietnam and India representing its largest markets for imports, Rainey said in May.

According to an analysis by CNBC of about 50 items sold by the retailer, some of those price changes have already hit shelves. Items that rose in price at Walmart over the summer included a frying pan, a pair of jeans and a car seat.

Rainey on Thursday declined to specify items or categories where Walmart had increased prices, saying the company is “trying to keep prices as low as we can.”

He said one of the company’s strategies has been bringing in inventory early, particularly for Sam’s Club as it gets ready for the second half of the fiscal year and its crucial holiday season. At the end of the quarter, inventory was up about 3.5% at Sam’s Club, Rainey said. It was up 2.2% for Walmart U.S.

On the company’s earnings call, McMillon said the impact of tariffs has been “gradual enough that any behavioral adjustments by the customer have been somewhat muted.”

“But as we replenish inventory at post-tariff price levels, we’ve continued to see our costs increase each week, which we expect will continue into the third and fourth quarters,” he said.

Yet even with higher costs from tariffs, Walmart has fared better than its retail competitors as it has leaned into its reputation for value, competed on faster deliveries to customers’ homes and attracted more business from higher-income households.

The Arkansas-based retailer’s performance has diverged sharply from rival Target, which posted another quarter of sales declines on Wednesday and named the new CEO who will be tasked with trying to turn around the company.

Walmart has gained from Target’s struggles. It has followed the Target playbook by launching more exclusive and trend-driven brands, including grocery brand BetterGoods and activewear brand Love & Sports. It has also expanded its third-party marketplace to include prestige beauty brands and more.

Sales of general merchandise, items outside of the grocery department, were a bright spot for Walmart in the fiscal second quarter, Rainey said. That category struggled during peak inflation in recent years, as consumers spent less on discretionary items because of rising grocery bills.

Comparable sales for general merchandise rose by a low-single-digit percentage and accelerated throughout the quarter, Rainey told CNBC. He added clothing and fashion sales “really shined for us.”

This post appeared first on NBC NEWS

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Guide to Uranium Mining in Canada

Investing 8 Mins Read

Uranium mining in Canada accounts for 13 percent of global output, making the Great White North the second largest producer of uranium in the world, behind only Kazakhstan.

Canada hosts 9 percent of the world’s uranium resources and is home to the biggest deposits of high-grade uranium. Their grades of up to 20 percent uranium are 100 times greater than the global average.

Canadian uranium deposits are found mainly in the provinces of Saskatchewan, Newfoundland and Labrador, and Québec, as well as the territory of Nunavut. Of these, Saskatchewan leads the country in both uranium exploration and production.

In this article

    Top Canadian uranium mines

    Canada is home to three producing uranium mines, Cigar Lake, McArthur River and McClean Lake, all of which are located in Saskatchewan’s Athabasca Basin.

    Saskatchewan is a premier uranium mining jurisdiction as home to the Athabasca Basin, a mining-friendly region in the north of the province that’s renowned for its high-quality uranium deposits. The area’s long uranium-mining history has made Canada an international leader in the uranium sector.

    Canada’s major uranium mining companies are Cameco (TSX:CCO,NYSE:CCJ) and Orano Canada, a subsidiary of the multinational company Orano Group. Cameco is the majority owner and operator of Cigar Lake and McArthur River. Orano holds a significant stake in both mines, and is also the majority owner and operator of the recently restarted McClean Lake operation.

    Data and information on the Canadian uranium mines and advanced projects discussed below is taken from mining database MDO. The database only includes projects that have at least partial ownership by public companies.

    1. Cigar Lake Mine

    Ownership:
    54.547% — Cameco
    40.453% — Orano Canada
    5% — TEPCO Resources
    Province: Saskatchewan
    Mine type: Underground
    Deposit type: Unconformity-related

    Cigar Lake, which entered commercial production in 2015, is one of Canada’s largest uranium mines and the world’s highest grade uranium mine. The underground mining operation involves the use of innovative mining methods such as jet boring, which was purposely designed by Cameco to tackle the unique challenges of the Cigar Lake deposit.

    For 2024, production at the Cigar Lake mine was reported at 16.9 million pounds U3O8, up 2 million pounds from the previous year. Guidance for 2025 stands at approximately 18 million pounds.

    Cigar Lake’s proven and probable reserves stand at 551,400 metric tons of ore grading 15.87 percent U3O8 for 192.9 million pounds of contained U3O8. Its mine life is expected to run until 2036.

    2. McArthur River-Key Lake Mine

    Ownership:
    McArthur River mine
    69.805% — Cameco
    30.195% — Orano Canada
    Key Lake mill
    83.3% — Cameco
    16.7% — Orano Canada
    Province: Saskatchewan
    Mine type: Underground
    Deposit type: Unconformity-related

    The McArthur River-Key Lake operation is home to the McArthur River mine and Key Lake mill, respectively the largest high-grade uranium mine and largest uranium mill in the world, according to MDO.

    McArthur River was first brought into production in 2000 using raiseboring and blast hole stoping mining methods, but was put on care and maintenance temporarily in early 2018 due to low uranium prices. Cameco brought the mine and mill back into production in late 2022, progressively ramping up output over the next few years.

    Production in 2024 came in at 20.3 million pounds U3O8, up nearly 43 percent from the previous year’s output, and production guidance for 2025 has been set at 18 million pounds.

    McArthur River’s proven and probable reserves total 2.49 million metric tons grading 6.55 percent U3O8 for 359.6 million pounds of contained metal. Its mine life extends out to 2044.

    3. McClean Lake Mine and Mill

    Ownership:
    77.5% — Orano Canada
    22.5% — Denison Mines (TSX:DML)
    Province: Saskatchewan
    Mine type: Surface mine
    Deposit type: Unconformity-related

    The McClean Lake mine re-entered production in July 2025, 17 years after it was shuttered in 2008 due to low uranium prices made the operations uneconomic.

    After studies demonstrated that the joint venture partners’ patented surface access borehole resource extraction (SABRE) mining method could bring McClean back to life economically, the decision was made in January 2024 to bring the asset back into production.

    The site hosts multiple deposits, including the now-producing McClean North deposit. It also boasts the only mill in the world designed to process high-grade uranium ore without dilution, according to MDO. The mill has the capacity to produce 24 million pounds of uranium concentrate, or yellowcake, annually. Currently, the mill is processing ore from the Cigar Lake mine under a toll mining agreement.

    Proven reserves at McClean Lake are in the form of ore stockpiles, and total 90,000 metric tons at a grade of 0.37 percent for U3O8 for 700,000 pounds of contained metal. The site also hosts significant indicated and inferred resources of 25.4 million pounds across the McLean North, Sue D and Sue F deposits.

    The partners expect to produce approximately 800,000 pounds of U3O8 from McClean North in the first year of operations. In addition, mining at the McClean North and Sue F deposits has the potential to produce about 3 million pounds from 2026 to 2030.

    Upcoming Canadian uranium mines

    There are a handful of contenders for Canada’s next uranium mine: Patterson Lake South, Rook 1 and Wheeler River. None are in the construction stage yet, but most are expecting to come online in the next few years. Learn about the advanced uranium projects below.

    1. Patterson Lake South

    Ownership: Paladin Energy (TSX:PDN,ASX:PDN)
    Province: Saskatchewan
    Mine type: Underground
    Deposit type: Basement hosted vein-type or fracture-filled

    Currently in the permitting phase, the Patterson Lake South (PLS) project hosts the large, high-grade and near-surface Triple R deposit, which has the potential to produce both uranium and gold. The project has a probable mineral reserve estimate of 93.7 million pounds of contained uranium from 3 million metric tons grading 1.41 percent U3O8.

    The 2023 feasibility study for PLS highlights average production of approximately 9 million pounds U3O8 per year over a 10 year mine life.

    Paladin added the PLS uranium project to its portfolio in December 2024 via its acquisition of Fission Uranium. The company is continuing to develop the PLS’s resource potential outside of the Triple R deposit, with a significant focus on the project’s Saloon East zone. Advancing through the environmental permitting process remains ongoing.

    2. Rook 1

    Ownership: NexGen Energy (TSX:NXE)
    Province: Saskatchewan
    Mine type: Underground
    Deposit type: Basement-hosted, vein-type

    NexGen Energy’s Rook 1 project, home to the Arrow deposit, is in the permitting stage with a feasibility study completed in February 2021. Arrow hosts probable mineral reserves of 239.6 million pounds of U3O8 from 4.57 million metric tons of ore at a grade of 2.37 percent, as well as a measured and indicated resource of 256.7 million pounds from 3.75 million metric tons at 3.1 percent.

    Over its 11.7 year mine life, Rook 1 is expected to produce an average of 19.8 million pounds of U3O8 per year, including over 25 million pounds during the first five years.

    Provincial environmental assessment approval was granted in November 2023, and the federal environmental impact statement was accepted as final in January 2025. In March 2025, the company shared that the Canadian Nuclear Safety Commission has proposed hearing dates for the Rook I project on November 19, 2025, and February 9 to 13, 2026.

    NexGen states that a full project execution team is at the ready and the site is fully prepared for construction activities to commence following final federal approval.

    3. Wheeler River

    Ownership:
    95% — Denison Mines
    5% — Uranium Energy (TSX:UEC,NYSEAMERICAN:UEC)
    Province: Saskatchewan
    Mine type:
    Phoenix — In-situ recovery

    Gryphon — Underground
    Deposit type: Unconformity-related

    The Wheeler River uranium project, billed as the largest undeveloped uranium project in the eastern region of the Athabasca Basin, is home to the high-grade Phoenix and Gryphon deposits. Each deposit is considered a standalone asset, and the Phoenix deposit is the more advanced of the two.

    A feasibility study for the Phoenix deposit as an in-situ recovery operation was completed in mid-2023. In February 2025, Denison reported that the Canadian Nuclear Safety Commission is set to conduct hearings for the project’s environmental assessment and license to prepare and construct a uranium mine and mill on October 8 and December 8 to 12, 2025. If granted approval, Denison is prepared to start construction in early 2026, followed by first production by the first half of 2028.

    As for the Gryphon deposit, an update to the pre-feasibility study for a conventional underground mining operation was completed in 2023. Denison conducted a field program in the first quarter of 2025 as part of its efforts to support a feasibility study.

    Canadian uranium exploration companies

    Canada is also home to a slew of uranium exploration and development companies focused on discovering uranium in Saskatchewan, Nunavut and Newfoundland and Labrador.

      For more insight on the uranium companies operating in the Athabasca Basin discussed in this article, check out our breakdown of the 15 uranium companies exploring the basin.

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

      This post appeared first on investingnews.com

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      New Rare Earths Venture to Target High-grade Assets in US and Brazil

      Investing 3 Mins Read

      Privately owned Rare Earths Americas (REA) has formed in a bid to explore and develop high-grade rare earths assets in the US and Brazil, looking to consolidate supply chains for various domestic sectors.

      The company, which raised AU$25 million in a private funding round, said it combines experienced operators and investors with “deep expertise across global mining, energy and critical materials.”

      Included in the company’s portfolio is the Foothills discovery, located in Georgia, US.

      The site contains grades of up to 41.3 percent total rare earth oxides, including heavy rare earths crucial for high-performance magnets. REA has highlighted its strong logistics, low-cost power and streamlined path to permitting.

      In Brazil, the Alpha and Constellation projects hold more than 1 billion metric tons of high-grade ionic clay rare earths mineralization, including dysprosium and terbium, which are essential for permanent magnets.

      The Homer project, also located in Brazil, targets multiple carbonatite clusters with the potential for niobium discoveries in a region known for leading niobium mines.

      “The rare earths market is undergoing a generational shift as the West races to secure its rare earths future,” said CEO Donald Swartz in a Monday (August 18) press release.

      REA’s timing aligns with broader US efforts to reduce reliance on China, which currently controls nearly 70 percent of global rare earths processing and accounts for most heavy rare earths production.

      In April, Beijing restricted shipments of seven rare earths to the US and other countries, prompting concern among automakers and defense contractors dependent on these materials.

      The US government recently proposed a pricing support mechanism for domestic rare earths ventures in order to increase production and mitigate China’s influence.

      Discussions last month, led by former White House Trade Advisor Peter Navarro and National Security Council official David Copley, included rare earths producers and major tech firms reliant on these critical minerals.

      China’s dominance stems from billions of dollars invested in mining and processing since 2000, often with minimal environmental or safety oversight, allowing the country to produce rare earths at lower cost than western competitors.

      The US response to the Asian nation’s rare earths stranglehold has included efforts to develop domestic mine supply and build out refinement, processing and production capacity. American companies have also sought to secure alternative sources in Africa and Latin America, but investment and technology barriers remain significant.

      Mountain Pass in California, the country’s only large-scale rare earths mine, produces bastnaesite carbonate, but relies heavily on foreign processing. MP Materials (NYSE:MP), the mine’s operator, posted a net loss of US$65.4 million in 2024, highlighting the challenge of competing with China’s low-cost production model.

      REA’s launch positions it as a potential strategic player in this evolving landscape.

      According to the company, the Foothills project offers a “streamlined permitting pathway” in the US, while the Alpha and Constellation projects in Brazil provide access to large-scale, high-grade heavy rare earths.

      “With grade and strategic geography on our side, we intend to advance our rare earths projects to support the long-term supply of critical materials essential to domestic innovation,” Swartz added.

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

      This post appeared first on investingnews.com

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      FPX Nickel Joins Mining Association of Canada and Signs on to UN Global Compact, Demonstrating Industry Leadership in Sustainable and Responsible Project Development

      Investing 5 Mins Read

       FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (‘ FPX ‘ or the ‘ Company ‘) is pleased to announce its participation in two leading sustainability initiatives in 2025, reinforcing our commitment to responsible mineral exploration and project development. These initiatives include the Company’s new membership in the Mining Association of Canada (‘ MAC ‘) and associated commitment with MAC’s Towards Sustainable Mining program for exploration-stage companies, and participation in the United Nations Global Compact.

      ‘FPX’s core values have long emphasized environmental stewardship, transparent engagement, and responsible resource development,’ commented Martin Turenne , FPX Nickel’s President and CEO. ‘Our participation with these leading associations provides further validation of our commitment to best practices in our ongoing efforts to advance the Baptiste Nickel Project in the right way, and deliver value for stakeholders, Indigenous communities, and future generations.’

      Membership in the Mining Association of Canada

      Earlier this year, FPX joined the Mining Association of Canada , a national organization recognized for its leadership in advancing sustainability in the mining sector. Through this membership, FPX has aligned itself with the Towards Sustainable Mining ( ‘TSM’ ) initiative, a globally respected standard that commits FPX to manage key environmental and social risks.

      FPX commits to implementing the TSM protocols, that provide guidance on responsible environmental practices, community engagement, safety, and ethical conduct during project development. This alignment represents a significant milestone for the Company as it continues to progress the Baptiste Nickel Project through advanced exploration and the environmental assessment phases.

      Commitment to the United Nations Global Compact

      As part of its 2025 ESG initiatives, FPX has also committed to the United Nations Global Compact, the world’s largest voluntary corporate sustainability initiative. By becoming a participant, FPX commits to aligning its operations and strategies with the United Nations Global Compact Ten Principles, which cover the areas of human rights, labour, environment, and anti-corruption.

      This commitment enhances the Company’s previous commitment to contribute to the achievement of the United Nations Sustainable Development Goals (‘ SDGs ‘) and to conduct business in a manner consistent with internationally recognized standards of responsible corporate citizenship.

      A Continued Focus on Responsible Development

      Together, these achievements reflect FPX’s ongoing leadership in the junior mining space and its proactive approach to embracing industry-leading standards, as demonstrated in our inaugural Sustainability Report, published in 2024. Going forward, the Company will continue to provide regular updates on its ESG performance and further initiatives as part of its commitment to transparency and continuous improvement.

      About the Baptiste Nickel Project

      The Company’s Baptiste Nickel Project represents a large-scale greenfield discovery of nickel mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni 3 Fe) hosted in an ultramafic/ophiolite complex.  The absence of sulphur and our ability to connect to the BC Hydro grid means that Baptiste has the potential to be one of the lowest carbon-intensive nickel producers in the world and will produce a very high-grade product that does not require any intermediate smelting or complex refining.  The Baptiste mineral claims cover an area of 453 km 2 west of Middle River and north of Trembleur Lake, in central British Columbia.  In addition to the Baptiste Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas within the same claims package, most notably at the Van Target which is located 6 km to the north of the Baptiste Deposit.  Since 2010, approximately US$55 million has been spent on the exploration and development of Baptiste.

      FPX has conducted mineral exploration activities to date subject to the conditions of agreements with First Nations and keyoh holders. In 2024, the Province of British Columbia identified the Baptiste Nickel Project as the first project to be included in the Province’s new Critical Minerals Office ( ‘CMO’ ) concierge service initiative, a provincial strategy action to enable the prioritization of critical minerals projects in B.C. The CMO initiative is providing an excellent structure to proactively identify and address issues and opportunities ahead of the Project’s entry into the environmental assessment process.

      About FPX Nickel Corp.

      FPX Nickel Corp.  is focused on the exploration and development of the Baptiste Nickel Project, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite.  For more information, please view the Company’s website at https://fpxnickel.com/

      On behalf of FPX Nickel Corp.

      ‘Martin Turenne’

      Martin Turenne , President, CEO and Director

      Forward-Looking Statements

      Certain of the statements made and information contained herein is considered ‘forward-looking information’ within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company’s periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

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

      SOURCE FPX Nickel Corp.

      View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2025/21/c9211.html

      News Provided by Canada Newswire via QuoteMedia

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      NATO Defense Spending Pledge Puts Spotlight on Platinum Group Metals

      Investing 5 Mins Read

      NATO’s decision to increase defense spending is casting fresh attention on the strategic role of platinum group metals (PGMs), a suite of critical minerals essential to aerospace and military technologies.

      The World Platinum Investment Council (WPIC), in its latest ’60 Seconds in Platinum’ briefing, noted that sustained growth in defense budgets could translate into higher demand for PGMs, which are already deeply embedded in critical defense and aerospace systems.

      In the Hague Summit Declaration issued June 25, 2025, alliance leaders committed to raising defense expenditure to 5 percent of GDP annually by 2035, a significant step up from the longstanding 2 percent guideline.

      The decision is designed to ensure “individual and collective obligations, in accordance with Article 3 of the Washington Treaty,” while addressing mounting geopolitical uncertainty.

      ‘Allies agree that this 5 percent commitment will comprise two essential categories of defence investment. Allies will allocate at least 3.5 percent of GDP annually based on the agreed definition of NATO defence expenditure by 2035 to resource core defence requirements, and to meet the NATO Capability Targets,’ the NATO statement reads.

      Additionally, ‘Allies will account for up to 1.5 percent of GDP annually to inter alia protect our critical infrastructure, defend our networks, ensure our civil preparedness and resilience, unleash innovation, and strengthen our defense industrial base.’

      PGMs, which include platinum, palladium, rhodium, iridium, and ruthenium, have a wide array of military uses thanks to their unique catalytic, conductive, and heat-resistant properties.

      In the defense industry, they are commonly found in avionics and electronics, lasers and optical systems, and night-vision goggles.

      Aircraft engines rely on platinum and rhodium for temperature sensing, while platinum is also used as a protective plating for turbine blades. In missile systems, platinum and iridium are incorporated into nose cones for their ability to withstand extreme heat.

      Military vehicles also draw on platinum for catalytic converters and infrared suppression systems, which help reduce thermal visibility against heat-seeking weapons. Platinum catalysts are integral to advanced fuel reforming systems designed to power next-generation military units.

      Other PGMs serve niche but indispensable roles. Ruthenium is applied in chip resistors, while palladium is key in military-grade capacitors. Reed switches, which are magnetic sensors used in high-risk or extreme environments, often depend on rhodium and iridium to ensure durability and safety.

      Hydrogen fuel cells gain traction

      One of the most promising growth areas highlighted by WPIC is the intersection of PGMs and hydrogen technologies in defense.

      Proton exchange membrane (PEM) fuel cells, which rely on platinum catalysts, are being tested in land vehicles, naval applications, and unmanned aerial systems.

      In South Korea, Hyundai Rotem, a defense subsidiary of Hyundai Motor (KRX:005380,OTC Pink:HYMTF), is developing what it calls the world’s first hydrogen fuel-cell powered military tank. Meanwhile, Ukraine’s Skyeton recently reported the successful test flight of a hydrogen fuel-cell powered unmanned aerial vehicle (UAV).

      Hydrogen propulsion could be particularly transformative in the UAV sector, WPIC noted, since fuel-cell systems offer higher energy density and lighter weight compared to traditional batteries, enabling longer flight times and greater operational flexibility.

      In the United States, the Department of Defense is studying a “micro hydrogen supply chain” for the Navy that would generate, store, and distribute hydrogen both at sea and onshore.

      As governments integrate their defense strategies with climate and energy transitions, PGMs appear set to play an even larger role. Hydrogen fuel cell adoption in military applications could also further deepen this connection.

      “Moves to boost defense and aerospace spending could be positive for platinum group metal demand,” WPIC noted, adding that NATO’s spending pledge and industry innovation highlight how PGMs are extensively used in defense and aerospace applications.

      Beyond PGMs

      While PGMs are indispensable, they are just one part of a wider set of critical raw materials that underpin modern defense capabilities.

      Rare earth elements (REEs), for instance, play a decisive role in the performance of advanced military platforms. According to data from Benchmark Mineral Intelligence, an F-35 Lightning II fighter jet requires around 418 kilograms (kg) of REEs, including neodymium and praseodymium in permanent magnets used for flight control and stealth systems.

      Naval platforms demand even more: the Arleigh Burke-class destroyer uses about 2,600 kg of REEs, while the Virginia-class submarine requires roughly 4,600 kg, supporting propulsion, sonar, radar, and missile guidance systems.

      The above examples illustrate both the massive material intensity of advanced military assets and the strategic vulnerabilities that come with dependence on external suppliers.

      NATO has already flagged these risks. In December 2024, it published a list of 12 defense-critical raw materials essential to Allied security, including aluminium, cobalt, graphite, titanium, tungsten, lithium, and rare earth elements alongside platinum.

      For the PGM sector, NATO’s spending pledge may prove to be a tailwind. Yet the bigger picture suggests that other similar resources will all form part of the same strategic equation of countries racing to secure the foundations of a stable supply chain.

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

      This post appeared first on investingnews.com

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      West High YieldResources Ltd. Announces Exercise of Options and Warrants

      Investing 4 Mins Read

      West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY,OTC:WHYRF) (FSE: W0H) (the ‘Company’ or ‘West High Yield’) announces announces the exercise of certain stock options (the ‘Options’) and share purchase warrants (the ‘Warrants’) of the Company.

      Options

      Five holders of options (the ‘Optionholders‘) exercised an aggregate of 2,400,000 Options resulting in the issuance of 2,400,000 common shares of the Company (each, an ‘Option Share‘). The Options were exercisable at a price of CAD$0.12 per Option Share, resulting in gross proceeds to the Company in the amount of CAD$288,000.00 upon such exercise.

      Warrants

      One holder of Warrants (the ‘Warrantholder‘) exercised an aggregate of 100,000 Warrants resulting in the issuance of 100,000 common shares of the Company (each, a ‘Warrant Share‘). The specific Warrants held and exercised by the Warrantholder were exercisable at a price of CAD$0.30 per Warrant Share, resulting in gross proceeds to the Company in the amount of CAD$30,000.00 upon such exercise.

      About West High Yield

      West High Yield is a publicly traded junior mining exploration and development company focused on acquiring, exploring, and developing mineral resource properties in Canada. Its primary objective is to develop its Record Ridge critical mineral (magnesium, silica, and nickel) deposit using green processing techniques to minimize waste and CO2 emissions.

      The Company’s Record Ridge critical mineral deposit located 10 kilometers southwest of Rossland, British Columbia has approximately 10.6 million tonnes of contained magnesium based on an independently produced National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101‘) Preliminary Economic Assessment technical report (titled ‘Revised NI 43-101 Technical Report Preliminary Economic Assessment Record Ridge Project, British Columbia, Canada’) prepared by SRK Consulting (Canada) Inc. on April 18, 2013 in accordance with NI 43-101 and which can be found on the Company’s profile at https://www.sedarplus.ca.

      Contact Information:

      West High Yield (W.H.Y.) RESOURCES LTD.

      Frank Marasco Jr., President and Chief Executive Officer
      Telephone: (403) 660-3488
      Email: frank@whyresources.com

      Barry Baim, Corporate Secretary
      Telephone: (403) 829-2246
      Email: barry@whyresources.com

      Cautionary Note Regarding Forward-Looking Information

      This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.

      Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; and other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

      Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.

      This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the ‘U.S. Securities Act‘) and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.

      NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) 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/263343

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