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Elemental Royalty Delivers Strong Quarterly Performance

Denver, Colorado–(Newsfile Corp. – November 10, 2026) – Elemental Royalty Corporation (NASDAQ: ELE) (TSX: ELE) (“Elemental” or the “Company”) is pleased to report results for the three and nine months ended September 30, 2026. For the quarter, Elemental delivered revenue of US$20.8 million, quarterly GEOs1 of 4,861, and adjusted EBITDA1 of US$16.6 million.

Q3 2026 Financial Highlights

  • Quarterly revenue of US$20.8 million, up 203% compared to revenue in Q3 2025;
  • Quarterly revenue plus attributable share of Caserones1 of US$20.8 million, up 153% compared to Q3 2025;
  • Gold Equivalent Ounces (“GEOs”) of 4,861 for Q3 2026 (2,362 in Q3 2025), and record 15,092 GEOs for Q3 year to date 2026 (10,136 in 2025);
  • Adjusted EBITDA1 of US$16.6 million, up 168% compared to adjusted EBITDA in Q3 2025;
  • Adjusted operating cash flow1 of US$13.2 million, up 162% compared to the comparative period;
  • Cash and cash equivalentsof US$23.0 million as of September 30, 2026; and
  • On track to meet updated GEO and revenue guidance of 19,500-22,000 GEOs for 2026, driven by significant contributions from Karlawinda, Bonikro, Timok, and Caserones.

Frederick Bell, Elemental Chief Executive Officer, commented: “Elemental delivered another strong quarter, reflecting the strength of our expanded portfolio, robust commodity prices and solid contributions from our key producing assets. Our performance reflects the increasing quality and maturity of the portfolio, with a growing base of cash-generating assets providing both resilience and a platform for further investment.

The third quarter also marked important milestones in our growth strategy, underpinned by the acquisition of Vizsla Royalties and our recently announced streaming and royalty acquisitions. Together, these transactions further strengthen our portfolio, adding exposure to producing assets and development projects with material growth potential. Importantly, we continue to see substantial embedded growth across the portfolio, supported by expansion projects, exploration success and investment by established operators, providing opportunities to increase future cash flow without additional capital commitments from Elemental.

Our recently announced strategic divestment of the royalty generation business represents the next stage of Elemental’s evolution, creating a simpler, leaner and more focused royalty and streaming company, while retaining exposure to the long-term upside of the generation model. Looking ahead, our focus remains on growing the portfolio through accretive acquisitions while maintaining a lean and efficient corporate structure. Increasing cash flow from our producing assets, together with our enhanced financial flexibility puts us in a strong position to fund future growth, reduce leverage and minimize shareholder dilution. Our priority is to translate this growth into increasing cash flow and value per share, building a larger, higher-quality business and delivering sustainable long-term returns for shareholders.”

Investor Webinar

An investor webinar will be held on Wednesday November 11, 2026, starting at 10am Eastern Time, to discuss these results, followed by a question-and-answer session.

To register for the investor webcast, please click the link below:

https://app.webinar.net/8jl4N8ZKpGo

A replay of the event will be available on the Elemental website following the presentation.

Summary of Financial Highlights for the Period Ended September 30, 2026 and 2025:

Three months ended September 30,Nine months ended September 30,
(In thousands of US dollars, except GEOs)2026202520262025
Statement of Income
   Revenue$20,813$6,863$68,923$27,596
   General and administrative expense$5,965$2,782$17,154$6,625
   Royalty generation expense, net$1,408$–$3,925$–
   Net income$3,753$1,373$8,434$4,981
    
Statement of Cash Flows    
   Cash flows from operating activities$13,191$4,014$43,217$19,608
    
Non-IFRS Financial Measures1    
   Revenue plus attributable share of Caserones$20,813$8,216$68,923$31,974
   Adjusted cash flows from operating activities$13,191$5,030$43,217$22,734
   Adjusted EBITDA$16,617$6,190$51,795$26,445
   GEOs sold4,8612,36215,09210,136

Outlook

2026 Original Guidance2026 Updated GuidanceQ3 YTD 2026 Results
GEO Sales from existing portfolio17,000 to 21,00018,000 to 20,50015,092
Revenue from existing portfolio$76.5 to $94.5 million$80.5 to $90.5 millionUS$68.9 million

Elemental has updated its 2026 guidance for its existing portfolio to 18,000 – 20,500 GEOs, compared to guidance of 17,000 – 21,000 GEOs reported in Q2 2026.

In addition, the Company expects an economic contribution equivalent to approximately 1,500 GEOs from the Orion portfolio for the period August 1 to December 31, 2026, bringing total expected contributions to 19,500 – 22,000 GEOs on an economic basis. Under the terms of the Orion acquisition, Elemental is entitled to all royalty and stream economics from August 1, 2026. However, for financial reporting purposes, the Company will only recognize revenue and GEOs generated subsequent to the closing date of the acquisition on October 26, 2026.

Based on performance during the first three quarters of 2026 and current expectations for the underlying assets, the Company remains on track to achieve its updated 2026 GEO sales guidance. The Company’s updated guidance assumes a commodity price of $4,000/oz gold and $6.00/lb copper for the remaining three months of 2026.

Guidance in 2026 is based on public forecasts, other disclosure by the owners and operators of our assets, historical performance, and management’s understanding of the underlying producing assets.

Key Strategic Developments

During the third quarter and subsequent to quarter-end, Elemental continued to execute its growth strategy through significant royalty and streaming acquisitions, portfolio optimization and initiatives to strengthen its financial flexibility. Key developments included:

  • Acquisition of Vizsla Royalties: Completed the acquisition of Vizsla Royalties in September 2026, adding a life-of-mine 2.0%-3.5% net smelter return (“NSR”) royalty over the Panuco silver-gold project in Mexico, which is expected to become a cornerstone asset within Elemental’s portfolio.
  • Orion Portfolio Acquisition: Announced the acquisition of a portfolio of five precious metals streams and royalties from funds managed by Orion Mine Finance for total consideration of US$290 million. Subsequent to quarter-end, the Company completed the acquisition of four of the five assets, significantly increasing its exposure to producing and development-stage assets with substantial growth potential. The remaining asset is expected to close in the first quarter of 2027.
  • Strategic Divestment of Royalty Generation Business: Announced a proposed divestment of the Company’s royalty generation business to Carlin East, representing an important step toward a more streamlined, cash-flow-focused royalty and streaming business, with an anticipated reduction in corporate general and administrative expenses of more than 25%.
  • Expanded Credit Facility: Subsequent to quarter-end, increased the Company’s revolving credit facility from US$150 million to US$250 million, with an additional US$50 million accordion feature, providing greater financial flexibility to support acquisitions and future growth.
  • Chapi Royalty Expansion and Quilla Investment: Completed a US$25 million strategic investment package comprising an additional 1.0% NSR royalty on the Chapi copper project in Peru and an equity investment in Quilla Resources, increasing Elemental’s royalty exposure to the project and supporting its future expansion.
  • Shareholder Returns: Continued returning capital to shareholders through the quarterly dividend of US$0.03 per share and share repurchases under the Company’s normal course issuer bid (“NCIB”), reinforcing its commitment to shareholder returns alongside portfolio growth.

Asset update

Cornerstone and Key Producing Assets

Caserones – Copper and Molybdenum – Effective 1.304% NSR

  • Effective revenue from Caserones of US$3.1 million and US$16.6 million for the three and nine months ended September 30, 2026 respectively.
  • Copper production for the three and nine months ended September 30, 2026 was 15,015 and 87,531 tonnes, respectively.
  • During the third quarter of 2026, production was significantly impacted by severe winter storms, resulting in prolonged power outages and approximately 30 days of operational suspensions. The impacts continued into the fourth quarter, with snowmelt affecting haulage rates and ore deliveries to the mill. As a result, Lundin Mining reduced its 2026 copper production guidance to 105,000-115,000 tonnes, noting that the production shortfall is expected to be recovered during 2027.

Karlawinda – Gold – 2% NSR

  • Royalty revenue from Karlawinda of US$2.9 million and US$8.8 million for the three and nine months ended September 30, 2026 respectively.
  • Gold production for the three and nine months ended September 30, 2026 was 31,218 ounces and 90,013 ounces, respectively.
  • Capricorn completed construction and commissioning of the expanded processing plant, which commenced continuous operations in September 2026, increasing capacity to approximately 6.5 Mtpa and targeting annual gold production of 150,000 ounces.
  • Capricorn announced an increase in Mineral Reserves at Karlawinda, supporting an approximately 10-year mine life at the expanded processing capacity.
  • Together with ongoing mining activities and regional exploration, these developments support stable production and incremental upside over time, and increased royalty revenue for Elemental.

Timok – Copper and Gold – 0.3625% NSR

  • Royalty revenue from Timok of US$2.6 million and US$7.0 million for the three and nine months ended September 30, 2026 respectively.
  • Expansion and optimization activities continue at the Upper Zone, including advancement of multi-level mining, while Phase 1 of the Lower Zone remains on track, including shaft and conveyor decline development.
  • Exploration drilling at the Malka Golaja Project is progressing as planned, with preliminary works and infrastructure development underway.

Bonikro – Gold – Up to 4.5% NSR, capped at 560,000 ounces

  • Royalty revenue from Bonikro of US$5.3 million and US$16.4 million for the three and nine months ended September 30, 2026 respectively.
  • Gold production for the three and nine months ended September 30, 2026 was 28,643 and 89,598 ounces, respectively.
  • As at the end of the period, there were approximately 256,000 ounces remaining on the Bonikro capped royalty of 560,000 ounces.

Leeville – Gold – 1.0% GSR

  • Royalty revenue from Leeville of US$1.6 million and US$5.8 million for the three and nine months ended September 30, 2026 respectively.
  • Gold sales for the three and nine months ended September 30, 2026 were 37,259 ounces and 126,390 ounces, respectively.

Development Assets

Panuco – Silver – 2.0% – 3.5% NSR – Feasibility Study

  • Elemental’s acquisition of Vizsla Royalties, and the underlying royalty on the Panuco Silver Project closed during the quarter.
  • Recent progress has centered on engineering, procurement and strengthening the development team, including the August appointment of Luis Lázaro as President, Mexico, to oversee permitting, construction and operations. EPCM and mine design contracts have been awarded, while key permit applications remain under review.
  • Vizsla Silver is targeting first silver production in H2 2028, subject to outstanding permitting and environmental approvals.

Laverton – Gold – 2.0% – 4.0% GRR – Resource Development

  • Genesis continued to advance exploration and development activities across the Laverton district, targeting increased future production and optimization of processing capacity.
  • Genesis announced a proposed merger with Vault Minerals, expected to close in November 2026, subject to approvals. The combined portfolio will undergo a strategic review focused on operational synergies, accelerated development and expanded exploration, with an updated strategic plan targeted for Q2 2027.

Diablillos – Silver and Gold – 1.0% NSR – Feasibility Study

  • AbraSilver continued advancing the Diablillos silver-gold project toward construction, completing a C$50.0 million financing and awarding an engineering contract to Worley, supporting a final investment decision targeted for Q2 2027.
  • Exploration drilling continued across Diablillos, with positive results from the Oculto deposit highlighting opportunities for future resource expansion.

Cactus & Parks/Salyer – Copper – 0.50% – 0.54% NSR – Pre-Feasibility Study

  • Hudbay continued advancing the Cactus copper project following its June 2026 acquisition of Arizona Sonoran, integrating the project into its broader Arizona development strategy alongside Copper World.
  • Hudbay plans to spend approximately $30 million at Cactus in the second half of 2026 on engineering, exploration and site de-risking activities, with an updated Pre-Feasibility Study targeted for the second half of 2027.

Viscaria – Copper – 0.5% – 1.0% NSR – Mine Development

  • Viscaria continued advancing construction and development of the Viscaria copper project, securing agreements with Sandvik and Metso for key mining services and processing equipment.
  • Subsequent to the quarter, the Viscaria project was granted strategic status by the European Union, recognizing its importance to Europe’s critical raw materials supply chain, as development progresses toward copper production.

Western Queen – Gold – 2.5% NSR; 2.0% GSR on other metals – Scoping Study

  • Rumble continued advancing the Western Queen gold project, including mine planning, permitting and preparations for pit dewatering and underground development, with a Feasibility Study and potential decision to mine targeted for Q4 2026.
  • Subsequent to the quarter, Rumble released an updated Mineral Resource Estimate and Scoping Study, outlining production of 115,000 ounces over approximately four years, more than double the previous study, with underground mining expected to commence in December 2027.
  • The updated mine plan incorporates only 30% of total resources, with ongoing infill drilling and exploration offering opportunities to expand resources and extend the mine life. 

Third Quarter 2026 Performance by Asset

The following table is a summary of GEOs1 sold and revenue plus attributable share of Caserones 1 for the third quarter of 2026 and 2025:

 GEOs Sold Revenue (in thousands of US dollars)
 2026 2025 20262025
   
Ballarat 214 179 $918$622
Bonikro 1,229 741 5,2612,578
Caserones2 718 – 3,074–
Gediktepe 136 – 584–
Karlawinda 676 613 2,8932,131
Korali-Sud – 301 –1,047
Leeville 368 – 1,573–
Timok 601 – 2,573–
Other producing royalties 605 139 2,590485
Advanced royalty payments 29 – 125–
Total royalty revenue 4,576 1,973 $19,591$6,863
     
Option, property and other revenue 285 – 1,222–
Caserones (before reclassification)2 – 389 –1,353
Revenue plus attributable share of Caserones1 4,861 2,362 $20,813$8,216

Had the Orion transaction closed on August 1, 2026, the effective date from which the Company is entitled to the economic benefits of the acquired assets, the Kouroussa stream would have contributed an additional $1.5 million in revenue and 353 GEOs during the quarter ended September 30, 2026. For accounting purposes, this revenue will be treated as a reduction of the purchase price rather than recognized as revenue.

Year to Date 2026 Performance by Asset

The following table is a summary of GEOs1 sold and revenue plus attributable share of Caserones1 for the first nine months of 2026 and 2025:

 GEOs Sold Revenue (in thousands of US dollars)
 2026 2025 20262025
   
Ballarat 588 530 $2,683$1,709
Bonikro 3,594 2,482 16,4208,000
Caserones2 3,587 – 16,564–
Gediktepe 493 – 2,278–
Karlawinda 1,937 1,915 8,8116,158
Korali-Sud – 3,372 –10,208
Leeville 1,259 – 5,759–
Timok 1,551 – 7,042–
Other producing royalties 1,560 475 7,0321,521
Advanced royalty payments 65 – 293–
Total royalty revenue 14,634 8,774 $66,882$27,596
     
Option, property and other revenue 458 – 2,041–
Caserones (before reclassification)2 – 1,362 –4,378
Revenue plus attributable share of Caserones1 15,092 10,136 $68,923$31,974

Qualified Person

Michael P. Sheehan, CPG, a Qualified Person as defined by NI 43-101 and consultant of the Company, has reviewed, verified, and approved the above technical disclosure.

About Elemental Royalty Corporation

Elemental is a mid-tier, gold-focused streaming and royalty company with a globally diversified portfolio of approximately 20 producing assets and more than 260 royalties, anchored by cornerstone assets and operated by world-class mining partners. The Company’s disciplined capital allocation and investment strategy combines immediate cash flow with significant embedded growth, providing a differentiated pathway to long-term value creation. Elemental benefits from a high-quality and diversified asset base, strong organic growth potential and sector-leading management expertise.

Elemental Royalty trades on NASDAQ and on the TSX under the ticker symbol “ELE”.

For further information, contact:

Frederick Bell
Chief Executive Officer
info@elementalroyalty.com		Tara Vivian-Neal
Investor Relations
investor@elementalroyalty.com

 
www.elementalroyalty.com

Phone: +1 (604) 688-6390

NASDAQ: ELE | TSX: ELE | ISIN: CA28620K1066 | CUSIP: 28620K 

Cautionary note regarding forward-looking statements

This news release contains certain “forward-looking statements” and certain “forward-looking information” as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology.

Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies.

Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Elemental to control or predict, that may cause Elemental’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the impact of general business and economic conditions, the absence of control over the mining operations from which Elemental will receive royalties, risks related to international operations, government relations and environmental regulation, the inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with Elemental’s expectations; accidents, equipment breakdowns, title matters, labour disputes or other unanticipated difficulties or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; currency fluctuations; regulatory restrictions, including environmental regulatory restrictions; liability, competition, loss of key employees and other related risks and uncertainties. For a discussion of important factors which could cause actual results to differ from forward-looking statements, refer to the annual information form of Elemental for the year ended December 31, 2025. Elemental undertakes no obligation to update forward-looking statements and information except as required by applicable law. Such forward-looking statements and information represents management’s best judgment based on information currently available. No forward-looking statement or information can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

Neither the Nasdaq Stock Market LLC, nor the TSX, or its Regulation Service Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this press release.

Notes

Royalty revenue received carries no direct cash cost of sales: distributions from associates related to Elemental’s effective royalty on Caserones were received net of Chilean taxes and have no other costs.

  1. Refer to the “Non-IFRS financial measures” section below or on page 24 of the Q3 2026 MD&A for more information on each non-IFRS financial measure. These non-IFRS measures are not standardized financial measures under the financial reporting framework used to prepare the financial statements to which the measures relate and might not be comparable to similar financial measures disclosed by other issuers.
  2. Effective November 13, 2025, the Company discontinued accounting for SLM California as an investment in associate and began recognizing its share of revenue from the Caserones royalty directly, rather than as a share of profit from associate.

Non-IFRS Financial Measures

The Company has included performance measures which are non-IFRS and are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. The non-IFRS measures do not have any standard meaning under IFRS Accounting Standards and other companies may calculate measures differently.

Caserones Reclassification

Effective November 13, 2025, the shareholders of SLM California executed an amendment to the entity’s shareholder agreement, resulting in the Company reassessing the classification of its interest in SLM California, which holds the Company’s Caserones royalty. As a result of the amendment to the shareholder agreement, the Company determined that the revised arrangement constituted a joint operation in accordance with IFRS 11 Joint Arrangements. Consequently, on November 13, 2025, the Company discontinued equity accounting under IAS 28 Investments in Associates and Joint Ventures and began recognizing its proportionate share of the assets, liabilities, revenues, and expenses of SLM California as a joint operation. As a result, there are no adjustments in the current period related to the reclassification for revenue plus attributable share of Caserones, depletion plus attributable share of Caserones or tax expense plus attributable share of Caserones.

Reconciliation of Adjusted EBITDA:

The following is the reconciliation of adjusted EBITDA:

Three months ended September 30,Nine months ended September 30,
(In thousands of dollars)2026202520262025
Net income for the period$3,753$1,373$8,434$4,981
Project evaluation and transaction related expenses1236328091,068
Interest Income(482)(239)(1,139)(344)
Interest and finance expenses320103880338
Tax expense plus attributable share of Caserones2,7276809,6143,848
Depletion plus attributable share of Caserones6,6452,89223,40112,659
Depreciation51–159–
Losses (gains) on revaluation of financial instruments2,187(6)3,65520
Share-based compensation1,2016784,9701,991
Losses on disposals92773351,884
Impairment charges––677–
Adjusted EBITDA$16,617$6,190$51,795$26,445

The presentation of this non-IFRS measure is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. Other companies may calculate these non-IFRS measures differently.

Reconciliation of Revenue, Depletion and Tax expense plus Attributable Share of Caserones:

Revenue plus attributable share of Caserones is a non-IFRS financial measure, which is defined as including gross royalty revenue from associated entities holding royalty interests related to Elemental’s effective royalty on the Caserones copper mine. Management uses revenue plus attributable share of Caserones to evaluate the underlying operating performance of the Company for the reporting periods presented, to assist with the planning and forecasting of future operating results, and to supplement information in its financial statements. Management believes that in addition to measures prepared in accordance with IFRS Accounting Standards such as revenue, investors may use revenue plus attributable share of Caserones to evaluate the results of the underlying business, particularly as the revenue plus attributable share of Caserones may not typically be included in operating results. Management believes that revenue plus attributable share of Caserones is a useful measure of the Company performance because it adjusts for items which management believes reflect the Company’s core operating results from period to period. Revenue plus attributable share of Caserones is intended to provide additional information to investors and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. It does not have any standardized meaning under IFRS Accounting Standards and may not be comparable to similar measures presented by other issuers.

Depletion plus attributable share of Caserones and tax expense plus attributable share of Caserones are non-IFRS measures which include depletion and tax expense from the Caserones royalty asset respectively, consistent with the recognition of revenue plus attributable share of Caserones as described above.

The following is the reconciliation of revenue plus attributable share of Caserones:

Three months ended September 30,Nine months ended September 30,
(In thousands of dollars)2026202520262025
Revenue$20,813$6,863$68,923$27,596
Royalty revenue related to Caserones–1,353–4,378
Revenue plus attributable share of Caserones$20,813$8,216$68,923$31,974

The following is the reconciliation of depletion plus attributable share of Caserones:

Three months ended September 30,Nine months ended September 30,
(In thousands of dollars)2026202520262025
Depletion of royalties$(6,645)$(2,449)$(23,401)$(11,452)
Depletion related to Caserones–(443)–(1,207)
Depletion plus attributable share of Caserones$(6,645)$(2,892)$(23,401)$(12,659)

The following is the reconciliation of tax expense plus attributable share of Caserones:

Three months ended September 30,Nine months ended September 30,
(In thousands of dollars)2026202520262025
Tax expense$(2,727)$(315)$(9,614)$(2,666)
Tax expense related to Caserones–(365)–(1,182)
Tax expense plus attributable share of Caserones$(2,727)$(680)$(9,614)$(3,848)

Reconciliation of Adjusted Cash Flows from Operating Activities:

Adjusted cash flows from operating activities is a non-IFRS measure which includes dividends from the Caserones royalty asset.

The following is the reconciliation of adjusted cash flows from operating activities:

Three months ended September 30,Nine months ended September 30,
(In thousands of dollars)2026202520262025
Cash provided by operating activities$13,191$4,014$43,217$19,608
Caserones royalty distributions–1,016–3,126
Adjusted cash flows from operating activities$13,191$5,030$43,217$22,734

Reconciliation of Gold Equivalent Ounces Sold:

Elemental’s revenue plus attributable share of Caserones is converted to an attributable gold equivalent ounce, or GEO, basis by dividing the revenue plus attributable share of Caserones by the average gold price for the same respective period. The presentation of this non-IFRS measure is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. Other companies may calculate these non-IFRS measures differently.

The following is the reconciliation of gold equivalent ounces sold:

Three months ended September 30,Nine months ended September 30,
2026202520262025
Revenue plus attributable share of Caserones (in $000s)$20,813$8,216$68,923$31,974
Average gold price$4,282$3,478$4,567$3,154
Total GEOs4,8612,36215,09210,136
info

Source: Elemental Royalty Corporation

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First Breach Plans to Integrate Onboard AI Computing into CQS and LRS Drone Platforms

Mission computer and dedicated AI processor planned as standard across both platforms, supporting onboard data processing and simplified assembly.

HAGERSTOWN, MD / ACCESS Newswire / November 10, 2026 / First Breach Inc. (NASDAQ:FBDT) (“First Breach” or the “Company”), an American-made defense technologies company focused on vertically integrated ammunition production and next-generation unmanned aerial systems, today announced plans to integrate Hellbender, Inc.’s Mission Compute Carrier (“MCC”) into its Close Quarters Strike (“CQS”) and Long Range Strike (“LRS”) drone platforms. The planned configuration will make a mission computer and dedicated artificial intelligence processor standard components of both platforms, supporting perception, navigation, and mission software.

“Autonomy is not a feature you bolt on after the fact. It needs to be considered from the start,” said Jeffrey Low, Co-Founder and Chief Executive Officer of First Breach. “A common computing architecture gives us a foundation for advancing both platforms while streamlining the components and assembly processes needed for planned production.”

The planned hardware includes a Raspberry Pi Compute Module 5 mission computer and a dedicated Hailo-8 artificial intelligence processor. These components are intended to process compatible camera and sensor data aboard the aircraft, reducing the need to transmit that data elsewhere for processing. The MCC connects directly to Hellbender’s flight controller through board-to-board connectors, an architecture designed to reduce interconnecting cables, simplify assembly, and limit potential connection-related failure points.

Following the Company’s previously announced autonomous-flight milestone, the planned MCC integration is intended to provide onboard computing capacity for further perception, navigation, and mission-software development.

First Breach continues to target completion of its initial prototypes in the fourth quarter of 2026 and plans to begin scaling production in the second quarter of 2027. As manufacturing operations expand, the Company is targeting production capacity of more than 2,500 drones per week. The timing and pace of that expansion remain subject to development, testing, and manufacturing readiness.

About First Breach

First Breach Inc. is an ISO 9001:2015 certified, American-made defense technologies company focused on manufacturing match-grade ammunition components, finished ammunition, and developing next-generation unmanned aerial systems for commercial, law enforcement, and military markets. The Company manufactures its products in-house at its Hagerstown, Maryland facility, where it produces brass cups, casings, projectiles, lead cores, lead wire, and completed ammunition with rigorous quality control standards. First Breach is also advancing its drone strategy through the development of U.S.-made unmanned systems, leveraging advanced engineering, robotics, ISR and sensor technologies, and precision manufacturing capabilities to address evolving defense, homeland security, law enforcement, and commercial requirements across domestic and international markets.

For more information, please visit: First Breach Inc.

About Hellbender

Hellbender, Inc. is a Pittsburgh-based engineering and advanced manufacturing company specializing in physical AI, computer vision, drones, robotics, electronics design, and automated manufacturing. Operating from approximately 90,000 square feet of facilities, the company provides integrated product development capabilities spanning engineering, prototyping, printed circuit board assembly, advanced sensor integration, robotic manufacturing, and production testing. More than 25% of Hellbender’s workforce consists of military veterans, supporting its commitment to American manufacturing and technical innovation.

For more information, please visit: Hellbender

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts and include statements regarding the Company’s expectations, beliefs, plans, objectives, strategies, future events, future performance, business prospects, growth initiatives, acquisitions, market opportunities, capital resources, operational objectives, and other statements that are predictive in nature. Forward-looking statements may be identified by the use of words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” and similar expressions, although not all forward-looking statements contain these identifying words.

Forward-looking statements are based on management’s current expectations, assumptions, and beliefs regarding future developments and their potential effect on the Company. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such forward-looking statements.

Factors that could cause actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, changes in economic, business, market, competitive, regulatory, technological, legal, and geopolitical conditions; the Company’s ability to execute its business strategy; access to capital and financing; customer demand; industry developments; and other risks and uncertainties described from time to time in the Company’s filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov.

Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. Except as required by applicable law, the Company undertakes no obligation to update, revise, or publicly disclose any revisions to any forward-looking statements to reflect events, circumstances, or changes in expectations occurring after the date of this press release.

Investor Relations

Frank Pogubila
Partner
Integrous Communications
Phone: 951.946.5288
Email: fpogubila@integcom.us
Website: www.firstbreach.com

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SOURCE: First Breach

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Paraguay seizes major digital bank tied to president, leaving millions of customers in limbo

ASUNCIÓN, Paraguay (AP) — Paraguay’s central bank seized a major digital lender with close ties to President Santiago Peña on Tuesday, fueling a political crisis and threatening the country’s burgeoning reputation as a regional haven for investors. The takeover left millions of customers’ savings and hundreds of millions of dollars in public funds in limbo.

The central bank’s board voted unanimously late Monday to put Ueno Bank into resolution and hand its management to officials charged with assessing its finances and protecting its assets, the regulator said Tuesday. The move came after Ueno’s solvency ratio, a measure of its capital against its risk-weighted assets, fell below half the legal minimum. Resolution allows regulators to transfer a failing bank’s deposits to other institutions before liquidating its remaining assets.

The bank says it has about 3 million customers, equivalent to roughly 60% of the adult population of the South American country, and manages $800 million to $850 million in public money. That includes about $380 million invested by Paraguay’s state pension and health fund.

Prosecutors ordered the arrest of eight people, including Ueno President Juan Manuel Gustale and chief executive Federico Miguel Vázquez Villasanti, as part of an investigation into suspected breach of trust and other offenses. By Tuesday afternoon, another two bank directors had been taken into custody, prosecutors said.

Peña, who canceled a planned trip to an international summit in Spain late Monday, said that he had asked central bank chief Carlos Carvallo to resign and had agreed with congressional leaders to fast-track legislation expediting payouts to depositors and guaranteeing the return of public money. He vowed to hold whoever was behind the collapse accountable.

Source: https://apnews.com/article/paraguay-ueno-digital-bank-seizure-santiago-pena-9d7521ddee45a185d2618c7e09a243a3

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West Point Gold Stock Alert – Major Drill Results Just Dropped

This update provides a clear look at the recent drilling activity for investors tracking the progress of the Northeast Tyro Zone. Derek McPherson, CEO of West Point Gold, walks through the specific drill intercepts and table data released by the company to confirm current exploration success. If you are following mining investment opportunities, this breakdown offers the necessary technical context on the gold grades identified in the latest reports.

The presentation focuses on the operational progress at the site, specifically detailing the high-grade intercepts that define the current phase of work. By analyzing the map and table data provided, viewers can understand the significance of these gold exploration findings and what they mean for the company’s timeline. This video is intended for those evaluating the technical milestones of West Point Gold and their recent impact on the project scope.

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Website: https://westpointgold.com/
Ticker: TSX.V: WPG | OTCQX: WPGCF
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Corporate Presentation: https://westpointgold.com/investors/

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Silver hit record highs in 2025 – here’s why the ‘Devil’s metal’ has further to run

Key Points

  • Silver has outpaced gold in 2025, with a growth of about 71%, compared to gold’s 54%.
  • Silver mine production has been decreasing for the past ten years, especially in Central and South America, due to mine closures, resource depletion and infrastructure challenges.
  • While industrial demand for silver is expected to decline slightly in 2025, the metal is increasingly used in electric vehicles, for AI components and in photovoltaics.

Silver, often nicknamed the ‘Devil’s metal’ because of its volatility, has reached record highs this year and still has further to run despite a supply crunch, according to experts.

The metal’s growth value has been running alongside gold’s, which has seen its own rally with the price surging past $4,000 an ounce this year.

Silver prices reached a historic peak of $54.47 per troy ounce in mid October, marking a 71% rise year-on-year. They’ve since pared back gains somewhat, but are now growing again, despite low supply levels.

“Some people were having to transport silver by plane rather than on cargo ships to meet delivery demand,” Paul Syms, head of EMEA ETF Fixed Income and commodity product management at Invesco, told CNBC.

“While we’ve seen the spike up, we’ve seen the price come down a little bit. Longer term, there’s a different dynamic this time that could keep silver at reasonably high prices and maybe continuing to go up for some time to come,” he added.

October was only the third time in the past 50 years where silver prices peaked. Other silver price highs include January 1980, when the Hunt brothers amassed a third of the world’s supply as they attempted to corner the market, as well as 2011, following the U.S. debt ceiling crisis when silver and gold were embraced as safe haven assets.

“Silver is only about a tenth the size of the gold market, and that short squeeze, obviously, sort of caught a few investors by surprise,” said Syms.

Unlike the previous investment waves, silver’s boom in 2025 relied on a mix of low supply and high demand from India as well as industrial needs and tariffs.

“After Liberation Day, the gold price spiked, but silver actually went down a little bit. And the gold-silver ratio spiked to above 100,” said Syms, referring to the gold-silver ratio which reflects how many ounces of silver are needed to buy one ounce of gold.

A low ratio means gold is relatively cheap, while a high ratio indicates silver is undervalued and likely to rise. In April, the ratio reached a historic high.

“The risk managers in financial and industrial entities did not want to let any metal go out of the States for fear that it might come back in at 35% higher for example,” said Rhona O’Connell, head of market analysis EMEA and Asia at Stone X.

Fast forward to the Autumn and silver entered its peak demand, especially as India’s monsoon and harvest seasons came to an end.

“Farmers don’t really like the banks very much, so gold and latterly, silver, tend to be the first port of call when they’ve got the harvest in,” said O’Connell.

India is also the world’s largest consumer of silver, with about 4,000 metric tons used every year, mostly for jewelry, utensils and ornaments.

The silver appeal this Autumn also coincided with Diwali, a five-day ‘Festival of Lights’ celebrating prosperity and good fortune and also India’s biggest public holiday.

Supply crunch

While gold is traditionally a favorite, this year silver — an affordable investment option in a country where about 55% of the population depends on agriculture for their livelihood — outshined other metals.

On Oct. 17, the price of silver in India rose sharply, reaching a record high of 170,415 rupees a kilogram — an 85% rise since the start of the year.

However, 80% of India’s silver supply is imported. The UAE and China are increasingly supporting that demand, but the U.K. is traditionally India’s largest silver supplier.

Yet, London’s vaults have been emptying rapidly for the past few years. In June 2022, the London Bullion Market Association held 31,023 metric tons of silver. By March 2025, volumes had fallen by around a third to 22,126 metric tons — its lowest point in years.

“What isn’t necessarily so visible to people is what’s happening in the vaults,” said O’Connell. “And that had reached a point where there was basically there was no available metal left in London.”

In October, the squeeze was such that traders had to pay much higher borrowing costs – or lease rates – to close their positions.

“At one stage, to borrow overnight was costing 200% on an annualized basis, so a lot of people were very stressed to put it mildly,” said O’Connell.

Supply is a constant issue for silver, as for other precious and rare metals. The Silver Institute’s 2025′s World Silver Survey estimates that mine production has been decreasing over the past 10 years, especially in Central and South America.

“Over the course of the past twelve months or so, the underlying surplus has started to turn into a deficit for three reasons: the impact of the electrification of the vehicle fleet, artificial intelligence, and photovoltaics,” said O’Connell.

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🚨 $1.4 Billion CEO Reveals His Next Silver Play

New Orleans Investment Conference, Proven And Probable

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APOLLO SILVER: TSX.V: APGO | OTCQB: APGOD
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Bullion markets breath sigh of relief after Trump says gold will not face tariffs

(Reuters) -U.S. President Donald Trump on Monday said he would not impose tariffs on gold, a move welcomed by global bullion markets and which ended days of speculation that the yellow metal could be caught up in the ongoing global trade spat.

“Gold will not be Tariffed!” Trump said in a statement posted on his social media account. He gave no details.

The U.S. Customs and Border Protection had posted a ruling on its website on Friday saying that Washington might place the most widely traded gold bullion bars in the United States under country-specific import tariffs, which would have rocked the metal’s global supply chains.

In response, a White House official told Reuters on Friday that the Trump administration was preparing an executive order “clarifying misinformation” about tariffs on gold bars and other specialty products.

A U.S. gold tariff would have been especially harmful for Switzerland, a major refining and transit hub for gold. Trump’s Monday post removes that concern.

“Delighted to hear the crisis has been averted,” said Ross Norman, an independent gold market analyst. “It will come as an enormous relief to the bullion markets, as the potential for disruption was incalculable.”

U.S. gold futures dropped 2.4% to $3,407 per ounce after Trump’s post on Monday, reducing a premium over spot gold, the global benchmark, which fell 1.2% to $3,357.

Shares of Barrick Mining fell 2.8% on Monday afternoon after the company posted quarterly results, while shares of Newmont – the world’s largest gold miner – were down slightly to $68.87. Both companies are major U.S. gold producers.

(Reporting by Pratima Desai, Ernest Scheyder and Jasper Ward; writing by Susan Heavey; Editing by Leslie Adler)

https://finance.yahoo.com/news/trump-says-gold-not-face-174418642.html

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Rick Rule – Where Wealth is Made Now

New Orleans Investment Conference, Proven And Probable

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Platinum Jumps to Highest Since 2014 on Mounting Supply Concerns

(Bloomberg) — Platinum surged to its highest level since 2014 as supply concerns and a wave of speculative buying jolted the market.

The precious metal surged as much as 4.6%, while palladium was up more than 5% at one point. Gold edged higher as investors waited for clearer signs that Israel-Iran tensions won’t spill over again, and for more certainty on the Federal Reserve’s interest rate path.

“The recent surge in Chinese investment and jewelry replacement is shining a spotlight on platinum’s supply deficit,” said Justin Lin, an analyst at Global X ETFs. “Palladium and platinum are intrinsically linked as they can be substituted for one another for use in autocatalysts depending on relative prices, so we can expect some positive momentum in palladium off of platinum’s rally.”

The dominant platinum spot market in London and Zurich has shown signs of tightness for months, after approximately half a million ounces surged into US warehouses, spurred by a lucrative arbitrage and fear of tariffs.

Forward prices for platinum are now trading well below spot, a situation known as backwardation, which indicates tight market conditions. The implied cost of borrowing the metal is also still high, at an annualized rate of roughly 13% for a one-month lease, well above the usual rate of close to zero.

Platinum surged 3.4% to $1,400.75 an ounce as of 11:25 a.m. in London and palladium jumped 2.4% to $1,093.46. Gold rose 0.2% to $3,339.20 and silver added 1%. The Bloomberg Dollar Spot Index declined 0.5%.

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