Category: Junior Mining

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Base Metals Energy Junior Mining

Coal Still Dominates Global Electricity Generation

Charted: Coal Still Dominates Global Electricity Generation

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Key Takeaways

  • Fossil fuels made up nearly 60% of 2024 electricity generation.
  • Coal accounts for 35% of total power generation.

Fossil Fuels Still Power Most of the World

Global energy demand grew faster than average in 2024, driven by rising electricity use across sectors. The power sector led the surge, with demand growing nearly twice as fast as overall energy use—fueled by increased cooling needs, industrial activity, transport electrification, and the expansion of data centers and AI.

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Despite a growing push toward cleaner energy sources, coal remains the leading source of electricity generation worldwide. In 2024, fossil fuels accounted for nearly 60% of global power generation, with coal alone contributing 35%, according to the International Energy Agency.

While renewable energy continues to expand, making up about one-third of total electricity production, the global energy mix still leans heavily on traditional sources.

CountryCoalNatural GasOilRenewablesNuclear
🇮🇳 India73.4%3.3%0.2%20.5%2.6%
🇨🇳 China58.4%3.2%0.1%33.9%4.4%
🇺🇸 U.S.15.6%42.6%0.7%23.3%17.9%
🇪🇺 EU10.7%15.6%1.5%48.7%23.6%
🌍 Global34.5%21.8%2.4%32.1%9.1%

In emerging markets and developing economies, coal continues to be the backbone of power systems. China, the world’s largest energy consumer, generated nearly 60% of its electricity from coal. In India, coal’s dominance is even more pronounced, providing close to three-quarters of all electricity produced.

In contrast, advanced economies are increasingly relying on cleaner sources. In 2024, the European Union made significant strides in renewable energy adoption—nearly half of its electricity came from renewables, far exceeding the global average.

In the United States, natural gas led the power mix, accounting for over 40% of electricity generation in 2024. President Trump’s pro-coal policies and the surge in energy demand from AI innovation are expected to boost coal production in the U.S. over the next few years.

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Platinum market’s ‘deep’ tightness shows little sign of relief

The platinum market has tightened to unprecedented levels in the past few days as tariff fears and speculative buying pull metal from the key London and Zurich markets into warehouses in the US and China.

Following a record rally last month, spot prices have soared to fresh all-time highs and the implied cost of borrowing the metal for one month has hit the steepest level in data going back to 2002. The inflow of platinum into facilities linked to the New York Mercantile Exchange on Thursday was the second-highest on record.

Miles Franklin Precious Metals, Proven And Probable

US President Donald Trump’s erratic trade threats led more than half a million ounces of platinum to flow into US warehouses earlier this year to capture premium prices driven by tariff fears — a surge of shipments similar to the one seen in markets for industrial metals such as copper.

Though no figures exist for how low inventories are in London and Zurich, stocks have also been drawn down by record Chinese imports of 36 tons in the second quarter.

Spot prices have surged almost 60% this year, and platinum’s unusual scarcity in the dominant over-the-counter spot market in London has led the precious metal’s annualized one-month borrowing costs to spiral close to 40%. Most of the time that rate is close to zero.

While prices retreated slightly on Tuesday, there’s little sign that the market tightness is easing. The price structure known as backwardation — with buyers paying more for the closest deliveries than for longer-dated contracts to secure supplies — only intensified this month, Jonathan Butler, head of business development at Mitsubishi International in London, wrote in a note.

“A combination of tariff-related dislocation, physical buying in Asia and speculative interest led to extreme market tightness,” he said. “The difference now is that the backwardation is deeper and more widespread across the curve than at any time in more than 20 years.”

Lease rates might also in part have been driven higher by platinum users’ skepticism about the steep price rally, according to Trevor Raymond, chief of industry body World Platinum Investment Council.

“Because the metal has been rangebound between $950 and $1100 an ounce for years, many market participants didn’t see the rally as sustainable, they said ‘we don’t need to react, we can lease the metal,’” he said. Given the now prohibitive cost of borrowing platinum, some of those borrowers may soon end up buying metal to end those leases, rather than rolling over the loans.

Spot platinum edged 0.8% lower on Tuesday, to $1,439.15 an ounce as of 1:57 p.m. in New York.

Stocks in American warehouses had began to decline in April once platinum was exempted from Washington’s first batch of tariffs, bringing US prices back in line with London and Zurich. But US premiums surged once again after Trump unexpectedly announced a 50% tariff on copper.

Although platinum is still exempt, the copper levy has “upped tariff risk in the white metals significantly,” Nicky Shiels, head of metals strategy at MKS Pamp SA said in a note.

https://www.mining.com/bull-cycle-brewing-for-platinum-group-metals-goehring-rozencwajg/embed/#?secret=dyvb1MCVI2#?secret=qDpGSpArUi

In addition to investment demand, platinum is used in catalytic converters and laboratory equipment. The WPIC estimates a supply deficit of almost 1 million ounces this year, further eroding dwindling above-ground stocks.

(By Jack Ryan)

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Base Metals Energy Junior Mining Precious Metals

Apollo Silver Expands Calico Project Land Package by over 285%

Vancouver, British Columbia, May 20, 2025 – Apollo Silver Corp. (“Apollo” or the “Company”) (TSX.V: APGO, OTCQB: APGOF, Frankfurt: 6ZF0) is pleased to announce it has acquired 2,215 hectares (“ha”) of highly prospective claims contiguous to its Waterloo property at its Calico Silver Project (“Calico” or “Calico Project”). The newly acquired claims herein referred to as the Mule claims comprise 415 lode mining claims, and have been acquired from LAC Exploration LLC (“LAC”), a wholly-owned subsidiary of Lithium Americas Corp. (TSX: LAC; NYSE: LAC), who were the previous operators of the property. Preliminary mapping and sampling conducted by the prior operator of the Mule claims identified several high-grade silver targets, which will be evaluated as part of Apollo’s future exploration planning.

In addition, a mapping and sampling program was recently completed at the Burcham gold prospect area in the southwest region of the Waterloo property (see news release dated February 12, 2025). This program confirmed the importance of the Calico fault system with respect to controls on the silver (“Ag)” and gold (“Au”) mineralization in the area and has identified the potential for copper (“Cu”), zinc (“Zn”) and lead (“Pb”) mineralization associated with stratabound and mantos lenses.

Highlights:

  • Mule claims expand the Calico Project land package by over 285%, from 1,194 ha to 3,409 ha of contiguous claims.
    • Mule claims trend along the mineralized Calico Fault System responsible for mineralization seen at Calico.
    • Reports from the prior operator indicate that there are several strongly anomalous silver values on the property, which Apollo will attempt to ground-truth in the coming exploration programs.
    • Sampling done across the Mule claims by previous operator has identified a large Ag anomaly associated with the same suite of host rocks at the Waterloo property.
  • Exploration at the Burcham prospect at Waterloo included assays from 27 surface samples:
    • Assay peaks up to 14.10 g/t Au, 20.70 g/t Ag, 0.17% Cu, 22.80% Zn and 5.74 % Pb from various samples (see Table 1).
    • Identification of strata-bound lenses and mantos that show strong potential for Cu, Zn and Pb mineralization.

Ross McElroy, President and CEO of Apollo, commented, “The addition of the Mule claims substantially enhances the Calico Project. Calico already hosts 3 discrete drill delineated zones with resource estimates along a 4km long trend, along the Calico fault zone. The Mule claims increase the overall land area of the Calico project by more than 2.5x.  The new claims are strategically located to the east along the very prolific Calico mineralized corridor and represent a great opportunity for further discoveries.  Apollo is committed to continuing to unlock value in California for our shareholders.”

Mule Claims Acquisition

The Mule claims are composed of 415 lode mining claims administered by the Bureau of Land Management. Mapping and sampling conducted by the previous operators across the Mule claims has identified a continuation of the mineralized Calico Fault System. The sedimentary rocks of the Barstow formation which hosts the Waterloo silver deposit, as well as the volcanic Pickhandle formation are pronounced all over the acquired claims. The contact between the Barstow and Pickhandle formation has demonstrated potential for gold mineralization as is seen at Waterloo. Sampling across the Mule claims has identified several strong Ag and Au anomalies. Apollo plans to conduct its own follow up exploration program on the Mule claims to better develop its own exploration targets and delineate where this highly prospective contact is exposed.

Details of the Transaction

The Mule claims were acquired by Apollo’s wholly owned U.S. subsidiary, Stronghold Silver USA Corp. (“Stronghold”), from LAC. As consideration for the acquisition, Apollo paid US$250,000 in cash, and LAC retains a 2.0% net smelter return royalty (the “Royalty”) on the Mule claims.

Apollo, through Stronghold, retains the right to buy back 1.0% of the Royalty at any time on or before the date that is thirty (30) days from the date of commencement of commercial production, for a payment of US$1,000,000.

Figure 1: Map of Calico Project in San Bernardino, California

2025 Burcham Exploration Program

The Company has completed its previously announced surface exploration work at its Burcham prospect (see news release dated February 12, 2025). The work completed consisted of detailed mapping, sample collection and target generation, with the aim to follow up with future drilling.

The exploration team has completed some of the most detailed mapping to date at the Calico Project, including previous programs at Langtry and Waterloo. Structures dominating at Burcham are similar to those at Waterloo with the system being dominated by the Calico Fault, a sinuous moderately plunging reverse fault that dips steeply to the north. Potential for Au mineralization is strong along the contact of the Burcham and Pickhandle formations. Previously unrecognised, stratiform mantos and lenses occupying fold flexures show strong potential for Cu mineralization. This type of mantos have been historically mined on the north side of the Waterloo deposit, and occur near the contact between the Pickhandle Formation and the overlying Barstow Formation. Historic mining on the North side of Waterloo Deposit targeted a manto about 1.5 m thick. Copper mineralization is associated with strong hydrothermal alteration which is seen to diminish as you move eastward along the property. Assays of the sample results are presented in Table 1.

Figure 2: Summary Map of Burcham Exploration Program

Table 1: Location and Assay Results of Samples Collected

Sampling and Quality Assurance/Quality Control

Grab samples were collected in the field and a 2 kg representative sample was sent for analysis. Rock samples are catalogued and securely stored in a warehouse facility in Barstow, California until they are ready for secure shipment to ALS Global Geochemistry in Reno, Nevada (“ALS Reno”) for sample preparation and gold analysis. After preparation, splits of prepared pulps are securely shipped to ALS Vancouver, British Columbia for analysis.

Samples were prepared at ALS Reno (Prep-31 package) with each sample crushed to better than 70% passing a 2 mm (Tyler 9 mesh, U.S. Std. No. 10) screen. A split of 250 g is taken and pulverized to better than 85% passing a 75-micron (Tyler 200 mesh, U.S Std. No 200) screen. Surface samples were analyzed using complete characterization via the CCP-PK05 methods, which include whole rock analysis (ME-ICP06), ME-MS61, single element trace method using aqua regia digestion and ICP-MS (ME-MS42) and rare earth elements using the method ME-ME81, which consists of lithium borate fusion followed by ICP-MS. All surface samples were submitted for gold analysis by fire assay (Au-AA23). Over-range samples analyzed for copper, lead and zinc were re-submitted for analysis using a four-acid digestion and ICP-AES finish (method OG62) with a range of 0.001-50% for copper, 0.001-20% for lead, and 0.001-30% for zinc. Gold was analyzed by fire assay with atomic absorption finish (method Au-AA25) with a reportable range of 0.01-100 ppm Au. All analyses were completed at ALS Vancouver except for gold by fire assay, which was completed at ALS Reno.

Apollo’s QA/QC program includes ongoing auditing of all results from the laboratories. The Company’s Qualified Person is of the opinion that the sample preparation, analytical, and security procedures followed are sufficient and reliable. The Company is not aware of any sampling issues or other factors that could materially affect the accuracy or reliability of the data reported herein.

2025 Marketing Initiatives

The Company also announces that it has engaged Creative Direct Marketing Group, Inc. (“CDMG”), an arm’s-length service provider, to provide creative services in accordance with the policies of the TSX Venture Exchange (“TSXV”) and applicable securities laws. Based in Nashville, Tennessee, CDMG specializes in marketing, advertising, and public awareness across various sectors, including mining and metals.

Pursuant to a work order dated May 16, 2025 (the “Agreement”), the Company has retained CDMG’s for a one-time fee of approximately US$129,800. The Agreement represents a creative budget for marketing and advertising services (the “Services”), enabling CDMG to begin preparing content that may be used in future campaigns.  No specific marketing campaign has been prepared, approved, or scheduled at this time. The engagement is subject to the approval of the TSX Venture Exchange.

Qualified Person

The scientific and technical data contained in this news release was reviewed and approved by Isabelle Lépine, M.Sc., P.Geo., Apollo’s Director, Mineral Resources. Ms. Lépine is a registered professional geologist in British Columbia and a QP as defined by NI 43-101 and is not an independent of the Company.

About Apollo Silver

Apollo Silver has assembled an experienced and technically strong leadership team who have joined to advance quality precious metals projects in sought after jurisdictions. The Company is focused on advancing its portfolio of two prospective silver exploration and resource development projects, the Calico Project, in San Bernardino County, California and the Cinco de Mayo Project, in Chihuahua, Mexico.

Please visit www.apollosilver.com for further information.

ON BEHALF OF THE BOARD OF DIRECTORS

Ross McElroy, President and CEO

For further information, please contact:

Amandip Singh, VP Corporate Development

Telephone: +1 (604) 428-6128

Email: info@apollosilver.com

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

Cautionary Statement Regarding “Forward-Looking” Information

This news release includes “forward-looking statements” and “forward-looking information” within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation the expected benefits and strategic rationale of the Mule claims acquisition; the timing, scope, and success of planned exploration activities, including mapping, sampling, and drilling at the Burcham prospect; the potential for silver, gold, and copper mineralization; and the Company’s ability to advance, develop, and permit the Calico Project. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, “potential”, “target”, “budget” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-looking statements are based on the reasonable assumptions, estimates, analysis, and opinions of the management of the Company made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant and reasonable in the circumstances at the date that such statements are made. Forward-looking information is based on reasonable assumptions that have been made by the Company as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may have caused actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks associated with mineral exploration and development; metal and mineral prices; availability of capital; accuracy of the Company’s projections and estimates; realization of mineral resource estimates, interest and exchange rates; competition; stock price fluctuations; availability of drilling equipment and access; actual results of current exploration activities; government regulation; political or economic developments; environmental risks; insurance risks; capital expenditures; operating or technical difficulties in connection with development activities; personnel relations; and changes in Project parameters as plans continue to be refined. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the price of silver, gold and Ba; the demand for silver, gold and Ba; the ability to carry on exploration and development activities; the timely receipt of any required approvals; the ability to obtain qualified personnel, equipment and services in a timely and cost-efficient manner; the ability to operate in a safe, efficient and effective matter; and the regulatory framework regarding environmental matters, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information contained herein, except in accordance with applicable securities laws. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding the Company’s expected financial and operational performance and the Company’s plans and objectives and may not be appropriate for other purposes. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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Apollo Silver Enters into Investor Relations Agreement

VANCOUVER, British Columbia, July 14, 2025 (GLOBE NEWSWIRE) — Apollo Silver Corp. (“Apollo” or the “Company”) (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) is pleased to announce that it has entered into an investor relations agreement (the “Agreement”) with Matthews Investments, to provide investor relations services to the Company, as defined in accordance with the policies of the TSX Venture exchange (“TSXV”) and applicable securities laws. Matthews Investments will receive consideration of C$7000/month, payable monthly in arrears, for an initial term of three months, with the option for the Company to renew on a quarterly basis thereafter.

Matthews Investments, a company based in Vancouver, British Columbia, provides IR consulting services for public companies. Founding CEO, Richard Matthews, is an IR expert with more than 15 years of experience and with deep expertise in the mining industry. He has held senior management and board roles at Canadian publicly listed companies and has run highly successful, international IR programs. Neither Matthews Investments nor any of its principals hold, directly or indirectly, any securities of Apollo, however, they have advised that they may participate in a future financing or acquire shares in the open market.

The Agreement is subject to the approval of the TSXV.

About Apollo Silver Corp.

Apollo has assembled an experienced and technically strong leadership team who have joined to advance quality precious metals projects in sought after jurisdictions. The Company is focused on advancing its portfolio of two prospective silver exploration and resource development projects, the Calico Project, in San Bernardino County, California and the Cinco de Mayo Project, in Chihuahua, Mexico.

Please visit www.apollosilver.com for further information.

ON BEHALF OF THE BOARD OF DIRECTORS

Ross McElroy
President and CEO

For further information, please contact:

Email: info@apollosilver.com
Telephone: +1 (604) 428-6128

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

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Is Silver on the Way to a New High?

Silver bars stacked by Walter Freudling via Pixabay

Andrew Hecht

Fri, July 18, 2025 at 12:34 PM EDT

A May 27, 2025, Barchart article on silver, I concluded with:

With silver over the $32 per ounce level, the critical upside target is the $37.58 technical resistance level. Silver’s relative value versus gold, the fundamental deficit, and the path of least resistance of silver prices since the 2020 low all point to a break above the resistance and a challenge of the 2011 and 1980 highs. However, buying on price weakness will likely remain optimal in the volatile silver market. 

Nearby COMEX silver futures were at the $33.525 per ounce level on May 27. On July 8, my Q2 precious metals report on Barchart highlighted silver’s Q2 bullish key reversal pattern. I concluded with:

I remain bullish on the precious metals sector, but even the most aggressive bull markets rarely move in straight lines. Buying on price corrections has been optimal in gold since the 1999 low, and I expect that trend to continue in gold, silver, platinum, and palladium over the coming months.  

Silver closed Q2 at $35.852 per ounce and was over the $38.50 level on July 18. Silver prices continue to make higher highs in July, with the price rising to a fourteen-year peak.

Silver futures approach the $40 per ounce level

The ten-year monthly COMEX silver futures chart highlights the precious metals’ ascent since the 2020 pandemic-inspired low of $11.64 per ounce.

The chart shows the pattern of higher lows and higher highs that has taken silver futures 240% higher to its latest high of $39.57 on July 14, 2025. Silver has more than tripled in value since its 2020 low.

The next technical targets are around the $50 level

The quarterly continuous futures contract chart indicates that silver has broken out, with its next critical technical targets located around the $50 per ounce level.

As the chart shows, at over $38.50 per ounce, silver is at a fourteen-year high, with the next upside target being the 2011 high of $49.82, which is a gateway to challenging the 1980 all-time high of $50.32 per ounce.

Fundamentals and technicals have aligned

While the technical trend is clearly bullish at a fourteen-year peak and after the Q2 quarterly bullish key reversal pattern, silver’s fundamentals have aligned with the price action. In January 2025, the Silver Institute forecasted a deficit in the silver market, with annual demand at 1.20 billion ounces and demand at 1.05 million ounces. The 150 million-ounce shortfall is the fifth consecutive year that silver demand will outstrip supplies.

When the technicals and fundamentals align, the results can turn parabolic. Silver’s latest peak was just below $40 per ounce, and the technical break with fundamentals winds in the precious metal’s sails could ignite a substantial rally that breaks through the 1980 peak like a hot knife sliced through butter.

Higher silver prices may only exacerbate the fundamental deficit

While the fundamental forecast was for a 150 million ounce shortfall in 2025, it does not account for the potential of skyrocketing investment and speculative demand. Silver is a highly volatile precious metal that could attract a herd of buyers as the price continues its upward trajectory. Therefore, the most bullish factor could be the higher path of least resistance that fuels further rallies.

Silver open interest, the total number of open long and short positions in the silver futures market, rose to a record 229,680 contracts in 2019. At 172,865 contracts on July 17, 2025, the futures arena has lots of upside room as speculative interest increases.

Meanwhile, Mexico remains the leading silver-producing country.

<i>Source: </i><i>worldpopulationreview.com</i>
Source: worldpopulationreview.com

In July, the U.S. administration announced a 50% tariff on copper, after excluding the base metal from the trade barrier in April. Copper futures exploded to a new record peak after the July tariff announcement. If the administration takes a similar stance on silver and the other precious metals, futures prices could take off on the upside. The bottom line is that tariffs and silver’s bullish trend could attract a herd of speculative buying, causing silver prices to rise, perhaps substantially, past the 1980 peak.

Silver is a highly volatile precious metal- A new high will send a significant signal to all markets

Silver is a highly volatile precious metal. While gold’s monthly historical volatility is around 13.28%, silver’s is 23.57%. Silver’s price tends to move more than gold’s price on a percentage basis.

Even the most aggressive bull markets rarely move in straight lines, as periodic corrections are routine events. Since the 2020 bottom, buying silver on price weakness has been optimal, and I expect that to continue.

If silver takes off and the price rises above the 1980 peak, it will further validate the decline in the value of fiat currencies. Gold has already surpassed the euro as the world’s second-leading reserve currency, as central banks continue to increase their gold holdings and validate gold as a reserve asset. Silver has a history dating back thousands of years to pre-Biblical times, as gold’s partner as a means of exchange or as hard money. A new high in silver will only exacerbate the decline in fiat currencies, which derive their value from the full faith and credit of the governments that issue legal tender and sovereign debt securities.

Silver could be on its way to new highs as fundamentals and technicals point to a challenge of the 2011 and 1980 highs. However, the decline in fiat money adds another dimension to silver’s potential in the current economic and geopolitical environment.

On the date of publication, Andrew Hecht did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.comView Comments (4)

Source: https://finance.yahoo.com/news/silver-way-high-163415896.html

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Trump tariffs live updates: EU readies its reprisals as Trump pushes for higher tariffs

The European Union still wants a trade pact with the US, but the bloc said to be readying its counterattack as President Trump plays hardball and makes a no-deal outcome more likely.

EU member states are pushing for new and stringent measures to retaliate against US companies, The Wall Street Journal reported, while its officials are meeting this week to draw up a plan for reprisals, per Bloomberg.

Miles Franklin Precious Metals, Proven And Probable

“If they want war, they will get war,” a German official told the WSJ, while noting there was still time to hammer out a deal.

Trump is reportedly pushing for higher blanket tariffs on imports from the EU, throwing a wrench in negotiations ahead of an Aug. 1 deadline for sweeping duties to take effect.

The Financial Times reported that Trump wants a minimum of a 15% to 20% tariff on EU goods as part of any deal. Trump has threatened the bloc with 30% duties beginning Aug. 1. That is the date he is also set to impose tariffs on an array of other trading partners, as well as potential sectoral levies on copper, pharmaceuticals, and semiconductors.

Trump said last week he would soon send letters to over 150 smaller US trade partners, setting blanket tariff rates for that large group.

Trump has already sent letters to over 20 trade partners outlining tariffs on goods imported from their countries. The letters set new baseline tariff levels at 20% to 40% — except for a 50% levy on goods from Brazil in a move that waded into the country’s domestic politics.

On July 10, Trump announced a 35% tariff on Canadian goods and followed that up with promises of 30% duties on Mexico and the EU. The letters have at times upended months of careful negotiations, with Trump saying he is both open to reaching different deals but also touting his letters as “the deals” themselves.

Treasury Secretary Scott Bessent on Monday said the administration is “more concerned with high quality deals than getting these deals done by Aug. 1.”

Looking ahead to the holiday season, some retailers are struggling to prepare, not knowing whether products like toys and artificial Christmas trees might be available to import, and what the tariffs might be on a given country.

Source: https://finance.yahoo.com/news/live/trump-tariffs-live-updates-eu-readies-its-reprisals-as-trump-pushes-for-higher-tariffs-200619060.html

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F3 – Increases Mineralized Strike Length of Tetra Zone System to 1.2km

Kelowna, British Columbia–(Newsfile Corp. – July 21, 2025) – F3 Uranium Corp (TSXV: FUU) (OTCQB: FUUFF) (“F3” or “the Company“) is pleased to announce that geochemistry results from re-logging and maiden geochemical analysis of historic holes on the Broach property have returned 423ppm uranium over 0.5m, 1.2km southeast along strike from the recently discovered Tetra Zone (See Figure 1 This development has significantly increased the prospective strike length of the mineralized corridor which hosts the Tetra Zone, where drilling is currently in progress.

The F3 team completed comprehensive re-logging of historic drillholes on the Broach property, including PAT-15-001, PAT-16-002 and PAT-16-004 (See Photo 1). Re-logs noted intense clay alteration and bleaching around the Athabasca Unconformity, including fracture-controlled silicification, particularly in PAT-16-002; these are features often found in proximity to uranium mineralization. Drill holes were re-sampled following F3’s internal sampling procedures and geochemical results are highlighted by drillhole PAT-16-002 which returned 423ppm uranium over 0.5m from 164.5 to 165.0m. PAT-16-002 is located 1.2km to the southeast of Tetra zone (See Figure 1.)

Hole PLN25-201, drilled earlier this year, which we interpret to have overshot the ground conductor, was collared approximately 300m to the northeast of PAT-16-002 and displays similar alteration including intense bleaching and alteration just below the unconformity.

Highlights of historic drill core analysis:

PAT-16-002:

  • 5.5m @ 63ppm U (160.0m to 165.5m), including:
  • 0.5m @ 423ppm U (164.5m to 165.0m)

Sam Hartmann, Vice President Exploration, commented:

“In 2016, a previous operator cored two drill holes targeting gravity anomalies approximately 1.2 km southeast of the Tetra Zone. One of these, PAT-16-002, was drilled 300 meters from our recent PLN25-201 hole, which was the first hole to target the ground conductor we defined last winter, and now host to the Tetra Zone. As no core samples from these historic holes were previously sent for analysis, F3 conducted geological re-logging and then maiden geochemical core sample analysis of the PAT-16-002 and PAT-16-004 cores. In PAT-16-002 we recognized strong clay alteration in the upper basement, with a 0.5-meter interval returning 423 ppm uranium—the highest uranium value recorded in any single exploration core sample from the PLN Project, outside of the JR and Tetra Zones. Only three other core samples across the project have approached this level, including one from PLN14-019 at 397 ppm, which sparked the 2022 exploration of the A1 conductor and lead to the discovery of the JR Zone, and two from PLN24-152, which intersected 0.014% U3O8 over 7 meters, including 0.051% U3O8 over 0.5 meters (see July 30, 2024, news release). The striking similarity in lithologies and alteration styles coupled with highly anomalous uranium values over a 1.2 km distance reinforces our belief of a potentially expansive mineralized system along strike from Tetra, significantly enhancing further discovery potential.”

Map 1. Tetra Zone Area – Prospective Strike Extension

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8110/259420_d9063abab4420853_002full.jpg

Photo 1. Lithology and Alteration Comparison of Tetra Zone Area and Historic Drillcore – 1.2km Apart

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8110/259420_d9063abab4420853_003full.jpg

Samples from the drill core are split into half sections on site. Where possible, samples are standardized at 0.5m down-hole intervals. One-half of the split sample is sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK while the other half remains on site for reference. Analysis includes a 63 element suite including boron by ICP-OES, uranium by ICP-MS and gold analysis by ICP-OES and/or AAS.

All depth measurements reported are down-hole and true thicknesses are yet to be determined.

About the Patterson Lake North Project:

The Company’s 42,961-hectare 100% owned Patterson Lake North Project (PLN) is located just within the south-western edge of the Athabasca Basin in proximity to Paladin’s Triple R and NexGen Energy’s Arrow high-grade uranium deposits, an area poised to become the next major area of development for new uranium operations in northern Saskatchewan. The PLN Project consists of the 4,074-hectare Patterson Lake North Property hosting the JR Zone Uranium discovery approximately 23km northwest of Paladin’s Triple R deposit, the 19,864-hectare Minto Property, and the 19,022-hectare Broach Property hosting the Tetra Zone, F3’s newest discovery 13km south of the JR Zone. All three properties comprising the PLN Project are accessed by Provincial Highway 955.

Qualified Person:

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and approved on behalf of the company by Raymond Ashley, P.Geo., President & COO of F3 Uranium Corp, a Qualified Person. Mr. Ashley has reviewed and approved the data disclosed.

About F3 Uranium Corp.:

F3 is a uranium exploration company, focusing on the high-grade JR Zone and new Tetra Zone discovery 13km to the south in the PW area on its Patterson Lake North (PLN) Project in the Western Athabasca Basin. F3 currently has 3 properties in the Athabasca Basin: Patterson Lake North, Minto, and Broach. The western side of the Athabasca Basin, Saskatchewan, is home to some of the world’s largest high grade uranium deposits including Paladin’s Triple R project and NexGen’s Arrow project.

Forward-Looking Statements

This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the suitability of the Properties for mining exploration, future payments, issuance of shares and work commitment funds, entry into of a definitive option agreement respecting the Properties, are “forward-looking statements.” These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

The TSX Venture Exchange and the Canadian Securities Exchange have not reviewed, approved or disapproved the contents of this press release, and do not accept responsibility for the adequacy or accuracy of this release.

F3 Uranium Corp.
750-1620 Dickson Avenue
Kelowna, BC V1Y9Y2
Contact Information
Investor Relations
Telephone: 778 484 8030
Email: ir@f3uranium.com

ON BEHALF OF THE BOARD
“Dev Randhawa”
Dev Randhawa, CEO

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/259420

Categories
Base Metals Energy Junior Mining

Fancamp Regains Control of One of the World’s Largest Iron Titanium Historic Deposits: Announces Results of Magpie Mines AGM

VANCOUVER, British Columbia, July 21, 2025 (GLOBE NEWSWIRE) — Fancamp Exploration Ltd. (“Fancamp” or the “Corporation”) (TSX Venture Exchange: FNC) announces that at the Annual General Meeting (“AGM”) of the shareholders of The Magpie Mines Inc. (“Magpie Mines”) held on July 17, 2025 in Montréal, Québec, the shareholders of Magpie Mines voted to set the number of Directors at three and to elect Rajesh Sharma, Mark Billings and Charles Tarnocai as the Directors of Magpie Mines.

Magpie Mines has appointed the following officers: Mark Billings as Chairman, Rajesh Sharma as President and Chief Executive Officer, Arnab Kumar De as Chief Financial Officer and Debra Chapman as Corporate Secretary.

“We are pleased to announce that Fancamp has regained control of Magpie Mines, which holds the Magpie deposit—one of the world’s largest undeveloped hard rock iron-titanium historic deposits, located in Havre St-Pierre region, a district recognized for its world-class mineral resources and unique geology. Given titanium’s strategic importance as a critical mineral in light of the global supply chain challenges, the Corporation will determine the next steps to advance this asset,” stated Rajesh Sharma, President and CEO of Fancamp.

The Corporation holds approximately 96% of the issued and outstanding shares of Magpie Mines, along with a 2% net smelter return royalty on the significant Magpie Titanium property.

The Magpie Fe-Ti-V deposit is one of the world’s largest undeveloped titanium resources (Woodruff et al., 20171) and one of the world’s largest vanadium deposits (based on data in Kelley et al., 20172). The project is located 90 kilometres north of Rio Tinto’s Lac Tio titanium mine and just 10 kilometres west of a Hydro Québec transmission line from the Romaine 4 generating station.

The Magpie Project is made up of Magpie 1, Magpie 2 and Magpie 3 deposits. The Magpie 2 deposit hosts an Historical Mineral Resource Estimate of 635.2 million tonnes grading 42.49% Fe, 11.20% TiO₂, and 0.3% V₂O₅ in the indicated category, with an additional inferred resource of 239.2 million tonnes grading 42.29% Fe, 11.21% TiO₂, and 0.32% V₂O₅ (the “Historic Estimate”) (see April 18 and June 1, 2012, press releases). This Historic Estimate predates the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards for Mineral Resources and Mineral Reserves (2014). A qualified person has not completed sufficient work to classify this historical estimate as current mineral resources or mineral reserves, the Corporation is not treating it as such and accordingly, it should not be relied upon. In order to verify the Historic Estimate, a qualified person needs to review the historical data, review any work completed since the date of the Historic Estimate and complete a new mineral resource estimate technical report. Magpie 1 and 3 de

posits host historical resources which are not disclosed here as they predate the Historic Estimate prepared for Fancamp in 2012 (see April 18, 2012, press release).

While the Historic Estimate is significant, the Project also demonstrates significant expansion potential in four previously undrilled areas that exhibit geological characteristics similar to the main deposit (Figure 1). Titanium and vanadium are critical and strategic minerals with key applications in aerospace, medical technology, specialty steel, and batteries, both face global supply chain concerns. Titano-magnetite deposits like Magpie are the principal source for vanadium extraction (Kelley et al., 20173).

Amended Technical Report and Resource Estimate on the Magpie #2 Iron-Titanium Deposit of the Magpie Property, Quebec, Canada June 1st ,2012
Amended Technical Report and Resource Estimate on the Magpie #2 Iron-Titanium Deposit of the Magpie Property, Quebec, Canada June 1st ,2012

Figure 1: Magpie project location and historical resource
Amended Technical Report and Resource Estimate on the Magpie #2 Iron-Titanium
Deposit of the Magpie Property, Quebec, Canada June 1st ,2012

Qualified Person: The technical information contained in this news release was reviewed and approved by François Auclair, P.Geo, M.Sc., Vice President Exploration of Fancamp, a Qualified Person under NI 43-101.

About Fancamp Exploration Ltd. (TSX-V: FNC)

Fancamp is a Canadian mineral exploration company focused on creating value through medium term growth and monetization opportunities with strategic interests in high potential mineral projects, royalty portfolio and exploration properties. The Corporation is focused on an advanced asset play poised for growth and selective monetization with a portfolio of mineral claims across Ontario, Québec and New Brunswick, Canada; including copper, gold, zinc, titanium, chromium, strategic rare-earth metals and others. The Corporation has future monetization opportunities from its Koper Lake transaction in the highly sought-after Ring of Fire in Northern Ontario. Fancamp holds 96% interests in Magpie Mines Inc., which owns the Magpie property, one of the world’s largest undeveloped hard rock titanium (+V) deposits, per USGS data. Fancamp has investments in an existing iron ore operation in the Quebec- Labrador Trough, a rare earth elements company, NeoTerrex Minerals Inc., a copper–gold exploration company, Platinex Inc., an opportunity to develop an emerging gold-copper exploration play with Lode Gold Resources Inc. in addition to an investment in a near term cash flow generating zinc mine, EDM Resources Inc. in Nova Scotia. Fancamp is developing an energy reduction and titanium waste recycling technology with its advanced titanium extraction strategy. The Corporation is managed by a focused leadership team with decades of mining, exploration and complementary technology experience.

Further information of the Corporation can be found at: www.fancamp.ca

Forward-looking Statements

This news release contains certain “forward-looking statements” or “forward-looking information” (collectively referred to herein as “forward-looking statements”) within the meaning of applicable Canadian securities legislation. Such forward-looking statements herein include, without limitation, statements about the Historic Estimate, the steps to verify the Historic Estimate and the expansion potential in four previously undrilled areas. Statements including forward-looking statements are made as of the date they are given and, except as required by applicable securities laws, the Corporation disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the Corporation’s ability to maintain its current percentage shareholding in and control of Magpie Mines, the conditions in general economic and financial markets; the price of iron ore, vanadium and titanium; timing and amount of expenditures related to the Corporation’s exploration programs; the availability of additional financing; and the availability and costs of mining equipment and skilled labour.

Forward-looking statements involve known and unknown involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Corporation to be materially different from those expressed or implied by such statements. Such factors include but are not limited to: changes in the Corporation’s shareholdings in Magpie Mines and its ability to retain control of Magpie Mines; results of exploration activities; interpretation of survey and testing results; financial risks due to metals prices; operating or technical difficulties in mineral exploration activities; the speculative nature of mineral exploration; risks in obtaining necessary licenses and permits; general market and industry conditions; and the availability of additional financing. Although the Corporation has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

For Further Information

Rajesh Sharma, President & Chief Executive Officer

+1 (604) 434 8829

info@fancamp.ca		Tara Asfour, Director of Investor Relations

+1 (604) 434 8829

tasfour@fancamp.ca

Neither 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 news release.

1 Woodruff, L.G., Bedinger, G.M., Piatak, N.M. 2017. Titanium. Critical Mineral Resources of the United States—Economic and Environmental Geology and Prospects for Future Supply. U.S. Geological Service. 23p.
2 Kelley, K.D., Scott, C.T., Polyak, D.E., Kimball, B.E. 2017. Vanadium. Critical Mineral Resources of the United States – Economic and Environmental Geology and Prospect for Future Supply. U.S. Geological Service. 36p.
3 Kelley, K.D., Scott, C.T., Polyak, D.E., Kimball, B.E. 2017. Vanadium. Critical Mineral Resources of the United States – Economic and Environmental Geology and Prospect for Future Supply. U.S. Geological Service. 36p.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/99f985b9-e779-4c77-974d-916fd227bf6d

Categories
Base Metals Junior Mining Lion One Metals Precious Metals

Lion One Reports Preliminary Gold Results, Announces C$16.3M in Quarterly Revenue

North Vancouver, British Columbia, July 21, 2025 – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (“Lion One” or the “Company“) is pleased to provide an operations update and to report preliminary quarterly gold production from the Tuvatu Gold Mine in Fiji for the quarter ending June 30th, 2025.

Highlights of Operations:

  • Record mill utilization of 96%
  • Record mill throughput of 33,726 tonnes
  • Record capital development of 489 m
  • Record operating development of 1,014 m
  • Shrink stope development complete, production beginning
  • Sustained increase in gold recoveries

Preliminary Quarterly Production Results:

  • 3,577 oz of gold sold
  • 3,214 oz of gold recovered
  • 81.6% recovery
  • 3.6 g/t gold average head grade
  • Total revenue of C$16,300,821

Lion One Metals sold approximately 3,577 oz of gold and 1,233 oz of silver during the three-month period ending June 30th, 2025. The average sale price for the quarter was C$4,541 per ounce of gold sold. Total revenue for the quarter was C$16,300,821, which represents a 24% increase in revenue compared to the previous quarter (C$13,173,024), and a 77% increase in revenue compared to the same quarter last year (C$9,187,046). Gold revenue for the quarter was enhanced by higher gold prices, increased recoveries, and higher mill throughput, as well as the sale of additional gold recovered from the gold in circuit. Average head grade for the quarter was low due to the delayed completion of the mine ventilation project, which caused a delay in mine development in lower levels of the mine. This limited the Company’s flexibility and opportunity to mine high grade material during the quarter as mine development recovered from the delay.

Mill performance for the quarter was very strong, achieving record quarterly mill utilization of 96%. This resulted in a record 33,726 tonnes of mineralized material being processed through the mill, for an average throughput of approximately 371 tonnes per day for the quarter. With minimal down time for maintenance and repairs, the processing team was able to focus on debottlenecking efforts and improved carbon management, which in turn resulted in a sustained increase in gold recoveries at the end of the quarter. Gold recovery for the month of June was 84.1%, compared to an average of 80.3% over the previous 12 months at Tuvatu (Figure 1). With construction of the flotation circuit underway, gold recoveries are anticipated to increase to over 90% by the end of 2025 (see release dated March 20, 2025).


Figure 1. Tuvatu Monthly Recovery, Last Six Months. Gold recoveries increased from a 12-month average of 80.3% to 84.1% in June 2025 because of debottlenecking efforts and improved carbon management at the mill.

Mine development achieved record levels during the quarter with a total of 1,503 m of underground development completed. The arrival of new mining equipment during the quarter, as well as the completion of the mine ventilation project in early April enabled the mining team to increase the rate of underground development and to open more levels of the mine. The top three months of development at Tuvatu were all achieved during this past quarter, with a new record monthly development of 545 m achieved in May 2025. The average monthly mine development at Tuvatu for the 12 months preceding this quarter was 340.5 m (Figure 2). More new mining equipment is scheduled to arrive on site and undergo commissioning in July and August, which is expected to further increase the rate of development at Tuvatu. Notably, the development of the Company’s first shrinkage stope is now complete, with production scheduled for July, August, and September. Drilling in the shrinkage stope has returned high grade intervals such as 142.66 g/t Au over 2.2 m, 489.52 g/t Au over 0.4 m, 168.95 g/t Au over 0.5 m, and 156.55 g/t Au over 0.6 m (see news releases dated March 25, 2025 and May 12, 2025).

Lion One CEO Ian Berzins stated: “With the Tuvatu gold mine still in the pilot plant stage of development, we have made great progress this quarter in laying the foundations for future success at Tuvatu. We have increased gold recoveries on the mill side and we have increased the rate of underground development on the mine side, both of which we expect to continue to improve moving forward. With production from the shrink stope coming online in July we anticipate this upcoming quarter to achieve even stronger results.”


Figure 2. Tuvatu Monthly Mine Development, Last Six Months. Record Capital and Operating Development was achieved during the quarter ending June 30th 2025. This was a result of the arrival of new mining equipment during the quarter as well as the completion of the mine ventilation project in early April 2025. Record mine development of 545 m was achieved in May 2025. This compares to average monthly mine development of 340.5 m during the preceding 12 months from April 2024 to March 2025.

Qualified Persons Statement

In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43- 101”), William J. Witte, P.Eng., Principal Advisor to the Company, is the Qualified Person for the Company and has reviewed and approved the technical and scientific content of this news release.

Lion One Laboratories / QAQC

Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its drilling, sampling, testing, and analyses. The Company operates its own geochemical assay laboratory and its own fleet of diamond drill rigs using PQ, HQ and NQ sized drill rods.

Diamond drill core samples are logged by Lion One personnel on site. Exploration diamond drill core is split by Lion One personnel on site, with half core samples sent for analysis and the other half core remaining on site. Grade control diamond drill core is whole core assayed. Core samples are delivered to the Lion One Laboratory for preparation and analysis. All samples are pulverized at the Lion One lab to 85% passing through 75 microns and gold analysis is carried out using fire assay with an AA finish. Samples that return grades greater than 10.00 g/t Au are re-analyzed by gravimetric method, which is considered more accurate for very high-grade samples.

Duplicates of 5% of samples with grades above 0.5 g/t Au are delivered to ALS Global Laboratories in Australia for check assay determinations using the same methods (Au-AA26 and Au-GRA22 where applicable). ALS also analyses 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES (method ME-ICP61). The Lion One lab can test a range of up to 71 elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES) but currently focuses on a suite of 26 important pathfinder elements with an aqua regia digest and ICP-OES finish.

About Lion One Metals Limited

Lion One Metals is an emerging Canadian gold producer headquartered in North Vancouver BC, with new operations established in late 2023 at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The Tuvatu project comprises the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the Pilot Plant, and the Assay Lab. The Company also has an extensive exploration license covering the entire Navilawa Caldera, which is host to multiple mineralized zones and highly prospective exploration targets.

On behalf of the Board of Directors,
Walter Berukoff, Chairman of the Board

Contact Information
Email: info@liononemetals.com
Phone: 1-855-805-1250 (toll free North America)
Website: www.liononemetals.com

 Neither the TSX-V nor its Regulation Service Provider accepts responsibility or the adequacy or accuracy of this release

This press release may contain statements that may be deemed to be “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labor or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Categories
Base Metals Emx Royalty Energy Junior Mining Precious Metals Project Generators

EMX Sells its Moroccan Portfolio and Forms Exploration Alliance with Avesoro

Vancouver, British Columbia–(Newsfile Corp. – July 8, 2025) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (“EMX”) is pleased to announce the execution of an exploration alliance agreement (the “Agreement”) in the country of Morocco with Avesoro Morocco LTD (“Avesoro”), a wholly owned subsidiary of Avesoro Holdings LTD, a privately owned, West Africa-focused mid-tier gold producer. The Effective date of the Agreement is March 19, 2025, and key conditions precedent for closing have now been completed. Avesoro Holdings, through its subsidiaries, operates gold mines in the country of Liberia and is looking to expand its operations elsewhere in the region. As such, Avesoro brings high levels of operational and exploration experience in western Africa to the alliance. In Morocco, EMX and Avesoro will work together to advance a portfolio of exploration projects that EMX has assembled and to cooperatively explore for new opportunities.

Avesoro will fully fund the alliance activities, which will include the advancement of certain projects in the EMX Moroccan portfolio, as well as new projects identified by the alliance for acquisition. Under the Agreement, Avesoro will acquire EMX’s operating entity in Morocco (“EMX Corp Morocco”, a wholly owned subsidiary of EMX) that currently domiciles EMX’s exploration projects and its Moroccan exploration staff. Projects slated for advancement under the alliance will be initially designated as Alliance Exploration Projects (“AEP’s”). These will be funded from an annual budget agreed upon by Avesoro and EMX. Once a project reaches an appropriate stage of advancement, it can be converted to a Designated Project (“DP”) and advanced from an independent pool of funding provided by Avesoro.

The initial term of the alliance will be two years but can be extended by mutual agreement. At the end of the alliance term, any AEP’s that have not become DP’s will revert to EMX.

Strategic rationale. The sale of EMX’s Moroccan business unit is the latest example of efficient execution of our Royalty Generation business. The exploration alliance with Avesoro will perpetuate EMX’s upside royalty exposure across a large portfolio of exploration assets in a highly prospective region, while reducing ongoing operational expenses.

Commercial Terms Overview. (all terms in USD)

Alliance stage:

  • Avesoro has made an execution payment to EMX of $650,000.
  • Avesoro will provide an initial pool of capital of at least $1.5 million/year to advance the alliance projects and to make new acquisitions within the country of Morocco. The initial term of the alliance will be two years.
  • Avesoro has agreed to provide the necessary funding to keep the projects in good standing during the term of the alliance.
  • At any time, Avesoro can elect to deem any of the projects a Designated Project (DP).
  • Any project that has not been converted to a DP by the end of the alliance term will be returned to EMX.

Designated project stage:

  • Avesoro will retain a 100% ownership in each of the DPs, with EMX retaining a 2% NSR royalty that is uncapped and cannot be repurchased or reduced.
  • Each DP will have a minimum $2,500,000 work commitment for the first five years and each DP will be funded from an independent pool of capital.
  • Commencing on the first anniversary of the nomination of the first DP, EMX will receive a $50,000 advance royalty payment, escalating by 15% per year until the advance royalty payment reaches $100,000.
  • EMX will also receive additional advance royalty payments for each subsequent project for which a positive feasibility study is delivered. These will begin at $50,000, escalating by 15% per year until the project reaches production or the advance royalty payment reaches $100,000.
  • EMX will also receive milestone payments of $500,000 for each project for which a feasibility study is delivered, and $1,000,000 for each project that reaches production.

Overview of EMX’s Moroccan Portfolio. EMX has been active in Morocco since 2021, conducting reconnaissance exploration programs that have resulted in the acquisition of 18 exploration projects in Morocco, comprising 860 square kilometers (see Figure 1). These include a combination of gold, copper and other base metal projects that are strategically located in several of Morocco’s key mineral belts, with three projects in the highly underexplored Moroccan Sahara region, 14 projects in the well-endowed Anti-Atlas belt, home to several of Morocco’s most significant mineral deposits, and one project in the High-Atlas belt.

Morocco is emerging as an attractive jurisdiction for mineral exploration and mineral resource development, benefiting from a stable regulatory framework, well-developed infrastructure, and highly prospective geological settings. The country hosts significant precious and base metal mines yet remains underexplored compared to other mining regions.

In advance of signing the Alliance, EMX and Avesoro have agreed upon extensive follow-up programs to continue to advance the projects. Nine of the existing EMX projects will be designated as AEP’s at the onset of alliance activities.

More information on the Projects can be found at www.EMXroyalty.com.

Dr. Eric P. Jensen, CPG, a Qualified Person as defined by National Instrument 43-101 and employee of the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.

About EMX. EMX is a precious and base metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol “EMX”. Please see www.EMXroyalty.com for more information.

About Avesoro. Avesoro Resources Inc. is a leading West Africa-focused, privately owned mid-tier gold producer. Deeply committed to sustainable and responsible mining practices, Avesoro strives to create a diverse and inclusive workforce that adheres to strict environmental, social, and governance standards. Avesoro is recognized for its exceptional technical expertise and broad commercial and financial capabilities that span exploration, engineering, construction, and mine operations. Please see www.avesoro.com for more information.

For further information contact:

David M. Cole
President and CEO
Phone: (303) 973-8585
Dave@EMXroyalty.com		Stefan Wenger
Chief Financial Officer
Phone: (303) 973-8585
SWenger@EMXroyalty.com		Isabel Belger
Investor Relations
Phone: +49 178 4909039
IBelger@EMXroyalty.com

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

Forward-Looking Statements

This news release may contain “forward-looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended March 31, 2025 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2024, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov.

Figure 1: location map for EMX exploration projects in Morocco

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1508/258006_figure1.jpg

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/258006