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FORTUNE BAY ANNOUNCES EXPLORATION TARGETS AT GOLDFIELDS AND COMMENCES DRILLING

Investing 11 Mins Read

Exploration Program Targets Near-Mine Ounce Growth

Fortune Bay Corp. (TSXV: FOR,OTC:FTBYF) (FWB: 5QN) (OTCQB: FTBYF) (‘Fortune Bay’ or the ‘Company’) is pleased to announce that exploration drilling has commenced on multiple high-priority exploration targets at its 100%-owned Goldfields Gold Project (‘Goldfields’ or the ‘Project’) in northern Saskatchewan.

The targets include opportunities for resource expansion at the Box and Athona deposits, and potential for the addition of new resources from underexplored historical occurrences at Frontier, Golden Pond, and Triangle ­— all within two kilometres of past-producing and expected future mine infrastructure (Figure 1).

An initial 17 exploration holes (3,250 metres) are planned with provision to expand the program in a results-driven manner. The exploration drilling will be carried out in conjunction with development-related drilling, supporting advancement of Goldfields to Pre-Feasibility Study, as described in the Company’s recent News Release.

Gareth Garlick, VP Technical Services for Fortune Bay, commented ‘We have initiated drilling within three weeks of closing our financing, demonstrating the pace at which we intend to advance the Project. Goldfields is already positioned as a robust development asset in Canada’s top mining jurisdiction, with work toward pre-feasibility and permitting in progress. Our exploration program is designed to unlock additional near-mine ounces that could further strengthen Goldfields’ exceptional economics and improve the overall development profile.’

Box Deposit – High-Grades Open at Depth

The Box deposit is wide open at depth. The Company’s 2021 drilling confirmed high-grades extending up to 240 m beyond the extents of the current open-pit constrained Mineral Resource Estimate (‘MRE’) (Figure 2), including:

  • 13.22 g/t Au over 8.0 m from 426.0 to 434.0 m (drill hole B21-340)
  • 8.74 g/t Au over 5.0 m from 575.0 to 580.0 m (drill hole B21-339)
  • 8.00 g/t Au over 12.0 m from 509.0 to 521.0 m (drill hole B21-336)
  • 8.00 g/t Au over 4.0 m from 375.0 to 379.0 m (drill hole B21-334)

Four initial drill holes (2,000 m) are planned to test and infill large gaps (up to 170 m) in the existing drill hole coverage outside of the MRE to test for extensions to high-grade zones with underground mining potential.

Gold mineralization occurs in sheeted and stockwork quartz–sulphide veins within the Box Mine Granite (‘BMG’), controlled by N-S and NW-SE trending structures. The Box Deposit currently hosts an open-pit constrained mineral resource including 734,300 oz Indicated (16.2 Mt @ 1.41 g/t), and 114,100 oz Inferred (3.4 Mt @ 1.04 g/t) (effective date September 11, 2025).

Athona Deposit – Near-Pit Resource Expansion Potential

Mineral resources at Athona are hosted entirely within the Athona Mine Granite (‘AMG’). The outcropping Athona West Mine Granite (‘AWMG’) is located immediately west of the AMG and displays gold mineralization similar in style to the AMG, but has not seen sufficient drilling to support estimation of mineral resources (Figure 3).

Two initial drill holes (270 m) are planned with the dual purpose of testing mineralization continuity in the AWMG and testing an underlying extension of the AMG below the AWMG. This target is located directly adjacent to, and partially overlapping, the Athona open-pit designed in the Updated PEA and has potential to cost-effectively add mineral resources with limited delineation drilling.

Gold mineralization at Athona occurs as stacked quartz–sulphide vein arrays controlled by NNE-trending structures. The Athona Deposit (AMG) currently hosts an open-pit constrained mineral resource including 255,400 oz Indicated (7.8 Mt @ 1.02 g/t) and 100,100 oz Inferred (4.0 Mt @ 0.78 g/t) (effective date September 11, 2025).

Exploration Drilling at Underexplored Historical Gold Occurrences

The Frontier, Golden Pond, and Triangle occurrences — all located within two kilometres of past-producing and expected future mine infrastructure — represent opportunities to define new mineralized zones that could ultimately contribute additional gold ounces to future Mineral Resource Estimates, thereby enhancing the overall scale and optionality of the Goldfields Project. The 2025/2026 exploration drilling program has been designed to test the size potential and continuity of shallow mineralized systems at these targets. Results from this work will be used to prioritize areas for follow-up delineation drilling, with the objective of advancing the most compelling opportunities in a cost-effective and timely manner.

Frontier – Located 800 metres northwest of the Box Deposit, the mineralized Frontier Mine Granite (‘FMG’) forms a 10–25 metre thick tabular body striking ENE–WSW and dipping gently to the SSE, similar in style to the Box Mine Granite. Historical work indicates that most mineralization occurs within a topographic high (outcropping to ~25 metres depth), which could provide a favourable strip ratio should a mineral resource be defined. Three initial drill holes (340 metres) are planned test for down-dip extensions of historically identified mineralization.

Golden Pond – Historical drilling at Golden Pond returned near-surface gold mineralization, with the vein system interpreted to remain open to the northwest. Six initial holes (440 metres) are planned to confirm historical results and to evaluate both along-strike and down-dip extensions of the mineralized structure.

Triangle – Triangle hosts a broad quartz-vein system that has returned surface grab samples up to 177 g/t gold from recent fieldwork. Unlike the granite-hosted targets at Box, Athona, Frontier, and Golden Pond, mineralization at Triangle occurs within less-resistant calcareous bedrock and is often masked by overburden. Historical drilling was limited and did not appropriately test the interpreted vein orientation.

Two initial drill holes (200 metres) will be completed to properly evaluate the target and assess continuity of the mineralized system both along strike and down dip.

Technical Disclosure

Current Drilling and Sampling Results

The Box 2021 (‘B21’) and 2022 (‘B22’) drill holes were oriented at moderate dips (-55 to -60 degrees) to the east to intersect the dominant mineralized vein-sets at high angles, and true thicknesses are estimated to be approximately 80% of the intersected lengths. Drill results shown are assays from 1 metre samples of half-cut NQ core composited into longer intervals using a minimum lower cut-off of 0.5 g/t Au, and maximum 5 metres of consecutive waste defined as < 0.3 g/t Au.

Surface sample results from Triangle derive from grab samples collected by hand from outcrop. Grab samples are selective in nature and are not necessarily representative of the overall mineralization at the occurrence.

Historical Results

Historical exploration results for Golden Pond and Frontier, that are being used to plan exploration holes, derive from assessment reports 74N08-0150 and 74N07-0315, respectively. These reports and supporting datasets are available for download from the Saskatchewan Mineral Assessment Database (‘SMAD’). Accordingly, historical results have not been verified and there is a risk that any future confirmation work and exploration may produce results that substantially differ from the historical results. The Company considers historical results relevant to assess the mineralization and economic potential of the property.

Mineral Resource Estimate

The Mineral Resource Estimate for Box and Athona is provided in the technical report titled ‘Goldfields Project Updated NI 43-101 Technical Report & Preliminary Economic Assessment, Saskatchewan, Canada‘, dated October 20, 2025, prepared by Kevin Murray, P.Eng.; Scott C. Elfen, P.E.; James Millard, P.Geo.; Jonathan Cooper, P.Eng.; Marc Schulte, P.Eng.; Cliff Revering, P.Eng.; and Ron Uken, Pr.Sci.Nat. for Fortune Bay Corp. The report is available under the Company’s issuer profile on SEDAR+ (www.sedarplus.ca) and on the Company’s website at www.fortunebaycorp.com.

Qualified Person & Technical Disclosure

The technical and scientific information in this news release has been reviewed and approved by Gareth Garlick P.Geo., Vice-President Technical Services of the Company, who is a Qualified Person as defined by NI 43-101. Mr. Garlick is an employee of Fortune Bay and is not independent of the Company under NI 43‑101.

About Goldfields

The 100% owned Goldfields Project (‘Goldfields’ or the ‘Project’) is located approximately 13 kilometres south of Uranium City, Saskatchewan. Goldfields hosts the Box and Athona gold deposits, as well as additional gold showings within the prospective Goldfields Syncline. The Box deposit was historically mined underground between 1939 and 1942, producing 64,000 ounces of gold. The Project is located within a historical mining area and benefits from established infrastructure, including a road and hydro-powerline to the Box deposit. Nearby facilities and services in Uranium City include bulk fuel, civils contractors, and a commercial airport.

About Fortune Bay

Fortune Bay Corp. (TSXV:FOR,OTC:FTBYF; FWB:5QN; OTCQB:FTBYF) is a gold exploration and development company advancing high-potential assets in Canada and Mexico. With a strategy focused on discovery, resource growth and early-stage development, the Company targets value creation at the steepest part of the Value Creation Curve—prior to the capital-intensive build phase. Its portfolio includes the development-ready Goldfields Project in Saskatchewan, the resource-expansion Poma Rosa Project in Mexico, and two optioned Athabasca Basin uranium portfolios providing non-dilutive capital and upside exposure. Backed by a technically proven team and tight capital structure, Fortune Bay is positioned for multiple near-term catalysts. For more information, visit www.fortunebaycorp.com or contact info@fortunebaycorp.com.

On behalf of Fortune Bay Corp.

‘Dale Verran’
Chief Executive Officer
902-334-1919

Cautionary Statement

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. Words such as ‘expects’, ‘aims’, ‘anticipates’, ‘targets’, ‘goals’, ‘projects’, ‘intends’, ‘plans’, ‘believes’, ‘seeks’, ‘estimates’, ‘continues’, ‘may’, variations of such words, and similar expressions and references to future periods, are intended to identify such forward-looking statements, and include, but are not limited to, statements with respect to: the results of the Updated PEA, including future Project opportunities, future operating and capital costs, closure costs, AISC, the projected NPV, IRR, timelines, permit timelines, and the ability to obtain the requisite permits, economics and associated returns of the Project, the technical viability of the Project, the market and future price of and demand for gold, the environmental impact of the Project, and the ongoing ability to work cooperatively with stakeholders, including Indigenous Nations, local Municipalities and local levels of government. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward- looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate Indigenous Nations and local Municipalities, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. For more information on Fortune Bay, readers should refer to Fortune Bay’s website at www.fortunebaycorp.com.

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

SOURCE Fortune Bay Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2025/25/c2492.html

News Provided by Canada Newswire via QuoteMedia

This post appeared first on investingnews.com

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Politics

It’s not just Minnesota; Democrats have created welfare fraud everywhere

Politics 5 Mins Read

It’s not just Minnesota.

The past few weeks have made clear that fraudsters stole billions of dollars from states’ welfare programs, much of it from Medicaid. It also appears that Democratic politicians tolerated the heist for their own political benefit. 

Yet politicians in virtually every state have let waste, fraud and abuse spread like wildfire in Medicaid, putting taxpayers on the hook for an estimated $2 trillion in improper spending over the next decade alone. 

Thankfully, President Donald Trump and congressional Republicans have given states a reason to clean up this mess and spare taxpayers that pain.

In a new paper, I show how Democrats have turned Medicaid into one of the most fraud-ridden programs in America — and how Republicans are fixing it. While Medicaid has long been plagued with improper spending, Democrats supercharged this crisis in the Obama years.

ObamaCare added tens of millions of able-bodied adults to the program, yet that population is much more likely to be ineligible.

The Obama administration refused to rigorously check eligibility, and the Biden administration adopted the same policy, deliberately hiding an explosion in waste, fraud and abuse. Meanwhile, states refused to police their Medicaid programs, confident that the federal government would look the other way and cover the tab.

The first Trump administration found that 27.4% of federal Medicaid spending was improper in 2020, or about $120 billion at the time. The administration also found that four out of every five improper payments were the result of eligibility errors. This money flowed to people who shouldn’t have been on Medicaid and therefore diverted money and care away from its intended recipients. Five years later, it’s highly likely that at least one in five Medicaid dollars is still wrongly spent.

Call this what it is — an assault on taxpayers. It’s also a clear violation of federal law. States are legally required to reimburse the federal government for Washington’s share of Medicaid payments if their improper payment rates are above 3%, a far cry from the 27.4% rate in 2020.

The Trump administration is once again conducting eligibility checks, but even without that info, it’s all but certain that every state already exceeds the 3% threshold. The only reason they’ve avoided a budget blowout is by receiving so-called ‘good faith waivers’ from Washington. Essentially, states have promised that they’ll tackle fraud and abuse, even when they have no intention of doing so.

Republicans called time on this rigged game in the law President Trump signed July 4. They effectively eliminated good-faith waivers and told states that, starting in 2030, they will be forced to cover the federal share of any improper payments above 3%. While five years may seem like an eternity, it’s an acknowledgment that states have a mountain to climb to bring their error rates into the low single digits. 

Consider Ohio. In 2019, it had an improper payment rate of nearly 45%, giving the Buckeye State the worst record in the nation for waste, fraud and abuse. Based on its most recent spending levels, Ohio would be on the hook for $9.7 billion, equal to roughly 15% of its current state budget. Illinois, with a 35.4% rate, would pay $6.4 billion, a tough ask given the state’s famous fiscal woes. Even states with lower improper payment rates, like Pennsylvania, Michigan and Missouri, would still be looking at annual costs of more than $1 or $2 billion.

Without reform, I estimate that states will pay a combined $100 billion in penalties beginning in 2030. Their only hope to avoid this fiscal pain is to immediately start rooting out waste, fraud and abuse. In the state legislative sessions that start in January, lawmakers should focus on several key reforms.

First, stop allowing Medicaid recipients to self-attest their income, address and other personal information. Using the honor system invites abuse.

Second, review recipients’ eligibility at least twice a year for able-bodied adults and once a year for everyone else, thereby removing ineligible individuals early and often.

Third, cross-check Medicaid data with easily accessible information such as wage, hiring and tax records; returned mail and changes of address; out-of-state food stamp transactions; and prison and death records. These basic good government measures can quickly identify people wrongly receiving taxpayer money.

Waiting to tackle Medicaid fraud is the most foolish thing states can do. So is hoping that Democrats get their wish and successfully repeal Republicans’ Medicaid reforms. That won’t happen while Trump is president. And if states wait to see the outcome of the 2028 election, they may be disappointed. At that point, they’d face an even steeper hill with barely a year to get their act together.

There’s no avoiding the reality that Democrats broke Medicaid — in Minnesota and everywhere else — or that Republicans have given states an urgent mandate to finally root out the waste, fraud and abuse.

 Michael Greibrok is a Senior Research Fellow at the Foundation for Government Accountability.

This post appeared first on FOX NEWS

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Politics

Partial government shutdown drags on as DHS funding talks stall

Politics 3 Mins Read

The partial government shutdown stretched into another week after negotiators failed to reach a deal to fund the Department of Homeland Security (DHS) over the weekend.

Congress is on a weeklong recess and is not scheduled to return to Washington, D.C., until next week, leaving the shutdown’s end in limbo as both parties remain far apart on key provisions.

Senate Democrats are demanding a series of reforms to Immigration and Customs Enforcement (ICE), a position they have maintained since the fatal shootings of Alex Pretti and Renee Nicole Good during ICE operations in Minnesota.

Senate Minority Leader Chuck Schumer, D-N.Y., and his caucus are standing by a list of 10 proposed reforms, including requiring ICE agents to obtain judicial warrants and limiting the use of face coverings — proposals Republicans have described as red lines.

‘Americans are tired of masked agents conducting warrantless operations in their communities — secret police,’ Schumer said. ‘They’re tired of chaos, secrecy and zero accountability. That is not what law and order looks like, and Republicans simply cannot pretend that this outrage does not exist.’

However, ICE received additional funding under previously passed legislation, and core enforcement operations are expected to continue. Other DHS agencies, including the Transportation Security Administration (TSA), the Federal Emergency Management Agency (FEMA) and the Coast Guard, remain affected by the shutdown.

The White House has led negotiations for Senate Republicans and offered Senate Democrats a proposal that they have rejected. Details of that proposal have not been made public.

‘This is a Democrat-driven shutdown caused by their intransigence and desire to use government funding for services all Americans rely on as a hostage in order to achieve an unrelated political goal,’ a senior White House official said.

Senate Majority Leader John Thune, R-S.D., said lawmakers would receive 24 hours’ notice to return if a deal is reached.

‘I think all those reasonable efforts and requests have been overshadowed by the fact that the Democrats don’t seem to want to play ball,’ Thune said.

On the House side, Speaker Mike Johnson, R-La., told lawmakers they would receive 48 hours’ notice to return if the Senate passes a bill. The House is also in recess until Feb. 23.

Johnson and other Republicans have expressed support for the original DHS funding bill crafted by House and Senate appropriators, but the speaker said he does not want further delays in DHS funding to be attributed to the House.

House Minority Leader Hakeem Jeffries, D-N.Y., has said Democrats will not accept a funding bill that does not include significant reforms to ICE.

This post appeared first on FOX NEWS

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Investing

LAURION Extends Drilling into Untested Ground Linking Brenbar and Sturgeon River Mine Corridors at Ishkoday

Investing 9 Mins Read

(TheNewswire)

Toronto, Ontario November 25, 2025 TheNewswire – Laurion Mineral Exploration Inc. (TSX.V: LME | OTC: LMEFF) (‘LAURION’ or the ‘Corporation’) is pleased to announce encouraging results from its 7,700-metre Summer 2025 drill exploration program at the 100%-owned Ishkõday Project, located 220 km northeast of Thunder Bay in Greenstone, Ontario. The first five drill results were announced in the Corporation’s press releases dated August 19, 2025 and September 23, 2025, respectively, which targeted the high-grade gold-bearing vein systems of the Sturgeon River Mine area. Reference is also made to the Corporation’s press releases dated September 5, 2025, May 27, 2025 and May 8, 2025.

The reported drill holes below, LME25-063, LME25-064, LME25-065 and LME25-066, total 1,806 m. The holes were designed to evaluate the northeast extension of the mineralized system at the historic Brenbar Mine, with hole LME25-063, and then stepping out to the northeast of the Brenbar historic mine shaft targeting the untested M50 Quartz vein series with further drill holes.

Highlights of Drill Holes LME25-063, LME25-065 and LME25-066

  • LME25-063        0.7 m @ 2.67 g/t Au from 139.50 m to 140.20 m;

  • LME25-063        0.5 m @ 1.26 g/t Au from 393.40 m to 393.90 m;

  • LME25-065        0.50 m @ 1.78 g/t Au from 91.10 m to 91.60 m;

  • LME25-065        1.80 m @ 0.95 g/t Au from 149.60 m to 151.40 m, including: 0.80 m @ 1.90 g/t Au from 150.60 m to 151.40 m;

  • LME25-065        0.50 m @ 1.32 g/t Au from 292,30 m to 292.80 m;

  • LME25-066        1.50 m @ 1.02 g/t Au from 272,50 m to 274.00 m; and

  • LME25-066        0.70 m @ 2.42 g/t Au and 1.90 Au/t from 389.0 m to 389.70 m.

‘ While these results represent the early stages of testing in a geologically complex corridor, their significance lies in extending our knowledge of mineralization continuity between the historic Brenbar and Sturgeon River Mine areas, ‘ stated Cynthia Le Sueur-Aquin, President and CEO of LAURION. ‘This is the first time drilling has been completed across this untested structural corridor, and it is yielding valuable geological insight with oriented core, that will guide the next phase of our exploration program. Our focus remains on defining the broader mineralized system that links multiple historic mine zones, ultimately positioning Ishkōday as a district-scale gold and base metal opportunity.’

Table of Assays for Drill Holes for LME25-063 to LME25-066

Hole ID

From (m)

To (m)

Core Length (m)

Au (g/t)

LME25-063

11.6

12.1

0.5

0.38

LME25-063

26.80

27.5

0.7

0.87

LME25-063

33.5

34.5

1.0

0.45

LME25-063

47.0

48.0

1.0

0.34

LME25-063

85.0

85.5

0.5

0.91

LME25-063

139.5

140.2

0.7

2.67

LME25-063

144.9

145.5

0.6

0.94

LME25-063

228.4

228.9

0.5

0.58

LME25-063

262.5

264.0

1.5

0.75

LME25-063

251.5

283.0

1.5

0.52

LME25-063

393.4

393.9

0.5

1.26

LME25-064

22.5

23.1

0.6

0.29

LME25-064

55.0

56.0

1.0

0.92

LME25-064

83.0

84.5

1.5

0.20

LME25-064

151.0

152.0

1.0

0.20

LME25-064

218.8

219.3

0.5

0.26

LME25-064

246.0

247.1

1.1

0.23

LME25-064

313.0

313.5

0.5

0.97

LME25-064

331.0

332.0

1.0

0.27

LME25-064

354.0

354.5

0.5

0.25

LME25-064

356.1

356.6

0.5

0.70

LME25-065

5.7

6.2

0.5

0.71

LME25-065

8.0

8.8

0.8

0.31

LME25-065

15.5

17.0

1.5

0.23

LME25-065

40.3

40.9

0.6

0.48

LME25-065

54.5

55.1

0.6

0.23

LME25-065

64.7

65.4

0.7

0.27

LME25-065

75.4

76.0

0.6

0.69

LME25-065

91.1

91.6

0.5

1.78

LME25-065

94.0

95.0

1.0

0.32

LME25-065

149.6

151.4

1.8

0.95

including

150.6

151.4

0.8

1.90

LME25-065

20.08

209.0

1.0

0.44

LME25-065

223.5

224.0

0.5

0.20

LME25-065

235.0

236.0

1.0

0.40

LME25-065

243.5

245.0

1.5

0.29

LME25-065

292.3

292.8

0.5

1.32

LME25-065

309.9

310.4

0.5

0.25

LME25-065

319.7

320.9

1.2

0.21

LME25-065

319.7

320.2

0.5

0.32

LME25-065

365.0

365.5

0.5

0.27

LME25-065

391.2

391.7

0.5

0.22

LME25-065

417.3

417.8

0.5

0.80

LME25-065

487.4

488.2

0.8

0.38

LME25-066

5.46

6.5

1.04

0.21

LME25-066

13.3

14.75

1.45

0.37

LME25-066

85.0

89

4.0

0.26

LME25-066

86.25

87.1

0.85

0.53

LME25-066

117.0

118

1.0

0.67

LME25-066

223.7

225.5

1.8

0.25

LME25-066

251.5

252.1

0.6

0.34

LME25-066

257.4

258.15

0.75

0.46

LME25-066

272.5

274.0

1.5

1.02

LME25-066

303.0

303.5

0.5

0.41

LME25-066

307.8

308.3

0.5

0.94

LME25-066

310.2

310.7

0.5

0.70

LME25-066

324.6

325.1

0.5

0.46

LME25-066

327.4

327.9

0.5

0.93

LME25-066

339.0

340.0

1.0

0.25

LME25-066

389.0

389.7

0.7

2.42

LME25-066

400.0

400.65

0.65

0.84

LME25-066

413.8

414.3

0.5

0.21

LME25-066

465.2

465.8

0.6

0.20

Note: (Intervals represent core length. The interval widths reported are down-hole widths. The true widths of the mineralized zones are not known at this time as there is insufficient information to determine the orientation of the mineralization. True widths are estimated at ~70–90% of reported intervals.)

Drill Hole ID

Azimuth

Dip

Depth (m)

LME25-063

150

-50

435

LME25-064

150

-50

366

LME25-065

150

-50

513

LME25-066

150

-50

492

TOTAL

1,806

Sampling and QA/QC Protocols

All drill core is transported and stored inside the core facility located at the Ishkõday Project in Greenstone, Ontario. LAURION employs an industry standard system of external standards, blanks and duplicates for all of its sampling, in addition to the QA/QC protocol employed by the laboratory. After logging, core samples were identified and then cut in half along core axis in the same building and then zip tied individually in plastic sample bags with a bar code. Approximately five or six of these individual bags were then stacked into a ‘rice’ white material bag and stored on a skid for final shipment to the laboratory.

All core samples were shipped to the ALS facility in Thunder Bay, Ontario, which were then prepared by ALS Global Geochemistry in Thunder Bay and analyzed by ALS Global Analytical Lab in North Vancouver, British Columbia. Samples are processed by 4-acid digestion and analyzed by fire assay on 50 g pulps and ICP-AES (InductivelyCoupledPlasma – AtomicElement-Spectroscopy). Over limit analyses are reprocessed with gravimetric finish.

A total of 5% blanks and 5% standard are inserted randomly within all samples. 5% of the best assay result pulps were sent for re-assays. All QAQC were verified, and no contamination or bias have been observed. The remaining half of the core, as well as the unsampled core, is stored in temporary core racks at the core logging facility in Beardmore and moved to the core storage facility at the Ishkõday Project.

Qualified Person

The technical contents of this release were reviewed and approved by Jean-Philippe Paiement, PGeo, MSc, a consultant to LAURION and a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects .

About LAURION Mineral Exploration Inc.

The Corporation is a mid-stage junior mineral exploration and development company listed on the TSXV under the symbol LME and on the OTCPINK under the symbol LMEFF. LAURION now has 274,097,283 outstanding shares, of which approximately 73.6% are owned and controlled by insiders who are eligible investors under the ‘Friends and Family’ categories.

LAURION’s emphasis is on the exploration and development of its flagship project, the 100% owned mid-stage 57 km 2 Ishkõday Project, and its gold-rich polymetallic mineralization.

LAURION’s chief priority remains maximizing shareholder value. A large portion of the Corporation’s focus in this regard falls within the scope of its mineral exploration activities and more specifically, advancing the Ishkõday Project. A consequence of LAURION’s success and advancement over the past several years is that the Corporation has become positioned as an acquisition target for appropriate potential acquirors. Accordingly, the Corporation’s Board of Directors is aware that possible strategic alternatives and transactional opportunities may arise and/or could be procured in the short or medium terms. The Corporation will promptly issue a press release if any material change occurs.

FOR FURTHER INFORMATION, CONTACT:

LAURION Mineral Exploration Inc .

Cynthia Le Sueur-Aquin – President and CEO

Tel: 1-705-788-9186 Fax: 1-705-805-9256

Douglas Vass – Investor Relations Consultant

Email: info@laurion.ca

Website: http://www.LAURION.ca

Follow us on: X (@LAURION_LME ), Instagram (laurionmineral) and LinkedIn ( )

Caution Regarding Forward-Looking Information

This press release contains forward-looking statements, which reflect the Corporation’s current expectations regarding future events including with respect to LAURION’s business, operations and condition, management’s objectives, strategies, beliefs and intentions, the Corporation’s ability to advance the Ishkõday Project, the nature, focus, timing and potential results of the Corporation’s exploration, drilling and prospecting activities in 2025 and beyond, including the Corporation’s diamond drill program described in this press release and the Corporation’s other planned activities for the Ishkõday Project for the remainder of 2025, and the statements regarding the Corporation’s exploration or consideration of any possible strategic alternatives and transactional opportunities, as well as the potential outcome(s) of this process, the possible impact of any potential transactions referenced herein on the Corporation or any of its stakeholders, and the ability of the Corporation to identify and complete any potential acquisitions, mergers, financings or other transactions referenced herein, and the timing of any such transactions. The forward-looking statements involve risks and uncertainties. Actual events and future results, performance or achievements expressed or implied by such forward-looking statements could differ materially from those projected herein including as a result of a change in the trading price of the common shares of LAURION, the TSX Venture Exchange or any other applicable regulator not providing its approval for any strategic alternatives or transactional opportunities, the interpretation and actual results of current exploration activities, changes in project parameters as plans continue to be refined, future prices of gold and/or other metals, possible variations in grade or recovery rates, failure of equipment or processes to operate as anticipated, the failure of contracted parties to perform, labor disputes and other risks of the mining industry, delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the Corporation’s publicly filed documents. Investors should consult the Corporation’s ongoing quarterly and annual filings, as well as any other additional documentation comprising the Corporation’s public disclosure record, for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. Subject to applicable law, the Corporation disclaims any obligation to update these forward-looking statements. All sample values are from grab samples and channel samples, which by their nature, are not necessarily representative of overall grades of mineralized areas. Readers are cautioned to not place undue reliance on the assay values reported in this press release.

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

Copyright (c) 2025 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

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Top 5 Canadian Mining Stocks This Week: Trifecta Shines with 117 Percent Gain

Investing 11 Mins Read

Statistics Canada released its second-quarter gross domestic product (GDP) figures on Friday (August 29). The data showed that the Canadian economy shrank 0.4 percent in the second quarter and declined 1.6 percent on an annualized basis. The decrease comes following first-quarter gains of 0.5 percent and a 2 percent annualized increase.

Much of the decrease was attributed to a 7.5 percent drop in exports compared to Q1. Canadian exports had risen 1.4 percent in the first three months of the year as US companies increased imports to get ahead of incoming tariffs.Excluding the lower costs at the pumps, CPI remained steady at 2.5 percent, the same increase as May and June.

On an industry level, new monthly data for June shows that the resource sector grew by 0.1 percent after two months of declines, primarily driven by a 2.6 percent gain in the oil and gas subsector, with oil sands extraction rising 6.4 percent over May. However, gains were offset by a 9.7 percent monthly decline in support activities for the resource sector, its largest drop in five years, led by reduced rigging and drilling activities.

South of the border, the US Bureau of Economic Analysis released its second estimate for Q2 real GDP on Thursday (August 28). The data shows that US GDP grew by 3.3 percent during the quarter, 0.3 percent higher than its advance estimate.

According to the agency, the figure reflects a decrease in imports and an increase in consumer spending. The GDP’s upward momentum was tempered by a 13.8 percent decrease in private domestic investment, marking the most significant decline since 2020, during the pandemic.

The growth follows a 0.5 percent decrease in the first quarter of 2025, which saw a significant rise in imports.

This week also saw US President Donald Trump attempt to remove US Federal Reserve Board of Governors member Lisa Cook. Trump justified the decision based on Federal Housing Finance Agency Director Bill Pulte’s claim that Cook claimed primary residence in two mortgage applications submitted weeks apart in 2021. She was confirmed to the Fed Board of Governors in May 2022.

Cook is fighting the move in court, with her lawyer stating that Trump’s unsubstantiated allegation of an event prior to Cook’s confirmation does not meet the ’cause’ required by the Federal Reserve Act to remove a governor. By the end of the day on Friday, the judge hearing the case did not reach a decision on whether to issue a temporary restraining order that would allow Cook to remain in her role during the case.

Pulte has previously made similar allegations against other prominent Democrats, including California Senator Adam Schiff, a vocal critic of Trump, and New York Attorney General Letitia James, who oversaw a civil suit against Trump that resulted in a US$500 million award.

Trump has been eager to reshape the Federal Reserve Board and has hinted that he would like to replace Chairman Jerome Powell before his term ends in 2026. Trump believes the Fed has not been acting quickly enough to lower interest rates and stimulate the economy.

Markets and commodities react

Canadian equity markets were largely unfazed by Canada’s weak GDP data. In fact, the S&P/TSX Composite Index (INDEXTSI:OSPTX) set a new record on Friday, closing the week up 1.73 percent to 28,564.45. The S&P/TSX Venture Composite Index (INDEXTSI:JX) did even better, climbing 5.36 percent to finish Friday at 829.57. The CSE Composite Index (CSE:CSECOMP) fell 0.45 percent on Friday following the StatsCan release, but gained 4.17 percent overall during the week to 166.9.

US equity markets also posted gains this week, but fell from record highs on Friday following a selloff of tech stocks. The S&P 500 (INDEXSP:INX) was up 1.19 percent to 6,460.25, while the Nasdaq 100 (INDEXNASDAQ:NDX) rose 0.99 percent to 23,415.42. Meanwhile, the Dow Jones Industrial Average (INDEXDJX:.DJI) gained 1.32 percent on the week to 45,631.73.

The gold price gained 3.19 percent this week on expectations of a September rate cut by the Federal Reserve, reaching US$3,448.15 per ounce by 4:00 p.m. EDT on Friday. Silver ended the week with a larger gain of 4.2 percent, nearly crossing the US$40 per ounce mark in morning trading before settling at US$39.74 per ounce.

Copper also saw some upward movement, gaining 1.1 percent to US$4.59 per pound. The S&P GSCI (INDEXSP:SPGSCI) commodities index posted an increase of 1.3 percent by close on Friday, finishing at 549.70.

Top Canadian mining stocks this week

How did mining stocks perform against this backdrop?

Take a look at this week’s five best-performing Canadian mining stocks below.

Stocks data for this article was retrieved at 4:00 p.m. EDT on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market caps greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.

1. Trifecta Gold (TSXV:TG)

Weekly gain: 117.24 percent
Market cap: C$23.77 million
Share price: C$0.63

Trifecta Gold is a gold exploration company focused on a portfolio of 11 properties in the Tombstone gold belt in the Yukon, Canada.

Its most advanced is its flagship Mt. Hinton gold-silver project, located near Hecla Mining’s (NYSE:HL) Keno Hill silver mine. The company’s project page indicates that vein float samples collected in January 2023 show grades of up to 273 grams per metric ton (g/t) gold.

The company has also been advancing exploration work at its Rye property, which hosts a gold-bismuth soil anomaly, as well as several gold-rich veins.

Shares in Trifecta rose this week alongside news on Thursday that the company had commenced its inaugural drill program at Rye, completing 970 meters across three holes. The announcement reported that the first hole intersected a high density of sheeted quartz veins.

The company said preliminary rock samples collected from the site earlier in 2025 returned multiple assays with greater than 5 g/t gold, including one highlight with 21.1 g/t gold and 8,550 parts per million (ppm) bismuth.

2. Consolidated Lithium Metals (TSXV:CLM)

Weekly gain: 100 percent
Market cap: C$13.98 million
Share price: C$0.04

Consolidated Lithium is an exploration and development company working to advance a portfolio of hard rock lithium projects in Quebéc, Canada.

Its most advanced asset is the Vallée lithium project, a 75/25 joint venture between Consolidated and Sayona Mining (ASX:SAY,OTCQB:SYAXF). The project is located in the Abitibi Greenstone Belt adjacent to and along strike of Sayona’s and Piedmont Lithium (NASDAQ:PLL) North American Lithium mining operation. According to the company’s project page, the Vallée property hosts multiple lithium-bearing pegmatites over a 1 kilometer strike length.

Consolidated announced on Wednesday (August 27) that it signed a letter of intent with the Government of Quebéc-owned Soquem to earn an 80 percent interest in the Kwyjibo rare earth project, located in the Côte-Nord region of the province.

Under the terms of the letter, Consolidated can earn up to an 80 percent interest in the project through two phases, in return for a combination of cash payments, shares in Consolidated and project investments.

A 2017 preliminary economic assessment for Kwyjibo reports project economics including an after-tax net present value of C$373.9 million and an internal rate of return of 17.8 percent, with a payback period of 3.6 years.

3. Electric Metals (TSXV:EML)

Weekly gain: 68.75 percent
Market cap: C$44.34 million
Share price: C$0.27

Electric Metals is a mineral development company focused on advancing its flagship North Star manganese project in Minnesota, US. According to the company, the asset is North America’s highest-grade manganese resource. It plans to produce high-purity manganese sulphate monohydrate for lithium-ion batteries.

The most recent news from Electric Metals was released on Tuesday, when it announced a preliminary economic assessment for the project. The assessment demonstrated a base-case after-tax net present value of US$1.39 billion, with an internal rate of return of 43.5 percent and a payback period of 23 months. and suggested an average annual after-tax cash flow of US$249.6 million.

The report also included an updated mineral resource estimate with an indicated resource of 7.6 million metric tons of ore grading 19.07 percent manganese, 22.33 percent iron and 30.94 percent silicon, and an inferred resource of 3.73 million metric tons of ore grading 17.04 percent manganese, 19.04 percent iron and 30.03 percent silicon.

4. Sage Potash (TSXV:SAGE)

Weekly gain: 58.33 percent
Market cap: C$31.93 million
Share price: C$0.38

Sage Potash is a potash exploration company currently working to advance its portfolio of mineral holdings in Utah’s Paradox Basin in the US.

Historic oil and gas exploration in the basin dating back a century discovered the potential for the potash beds, but they were too deep for mining methods at the time. Sage has since confirmed their presence through its own exploration.

In a revised technical report from February 2023, the company reported an inferred mineral resource estimate of up to 159.3 million metric tons of in-place sylvinite from the upper potash bed and up to 120.2 million metric tons of sylvinite from the lower potash bed.

On August 14, Sage announced that Stockwell Day had joined the company board. Day served several ministerial roles for the Canadian government under Prime Minister Stephen Harper, including as President of the Treasury Board and Minister of International Trade.

This was followed by news on Wednesday that Day had been granted 600,000 stock options at an exercise price of C$0.30 per share and would remain valid for a period of five years.

Sage’s share price spiked earlier this week after the US Government added potash in its draft of an updated list of critical minerals.

5. Kincora Copper (TSXV:KCC)

Weekly gain: 58.33 percent
Market cap: C$24.8 million
Share price: C$0.095

Kincora Copper is an exploration company operating under a project generator model and partnering with other companies to advance its portfolio, including copper-gold projects in the Macquarie Arc of New South Wales, Australia.

Among them is the Northern Junee-Narromine Belt (NJNB) land package, which is covered by a May 2024 earn-in agreement that could see AngloGold Ashanti (NYSE:AU,JSE:ANG) earn up to an 80 percent interest in the Nyngan and Nevertire licenses through AU$50 million in exploration expenditures or AU$25 million for exploration and the completion of a pre-feasibility study.

Kincora secured a second agreement with AngloGold Ashanti in April for the Nyngan South, Nevertire South and Mulla licenses with similar terms, bringing the total exploration funding to AU$100 million.

On Monday (August 25), Kincora announced results from the first drilling program at the Nyngan project, noting that assays support the potential for porphyry copper and epithermal gold, and that it saw ‘encouraging results at particularly shallow depths’ from drill targets identified by a ground gravity survey earlier this year.

Additionally, Kincora said that drilling is ongoing at the Nevertire South and Nevertire projects, with the initial program planned for seven holes and 2,150 meters.

FAQs for Canadian mining stocks

What is the difference between the TSX and TSXV?

The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.

How many mining companies are listed on the TSX and TSXV?

As of May 2025, there were 1,565 companies listed on the TSXV, 910 of which were mining companies. Comparatively, the TSX was home to 1,899 companies, with 181 of those being mining companies.

Together, the TSX and TSXV host around 40 percent of the world’s public mining companies.

How much does it cost to list on the TSXV?

There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

How do you trade on the TSXV?

Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.

Article by Dean Belder; FAQs by Lauren Kelly.

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

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

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Editor’s Picks: Gold Price Breaks US$3,400, Silver Added to Draft US Critical Minerals List

Investing 5 Mins Read

The gold price was on the rise this week, breaking through US$3,400 per ounce once again.

It’s been pushed higher by US dollar weakness, as well as Federal Reserve turmoil.

President Donald Trump has been pressuring Fed Chair Jerome Powell to cut interest rates for months, and on Monday (August 25) the situation developed further when Trump posted a letter on his social media platform Truth Social. In it, he said he was removing Lisa Cook from her position on the central bank’s board of governors due to allegations of mortgage fraud.

Cook, who has been voting to hold rates steady, was due to serve until 2038; she has now filed a lawsuit asking for Trump’s order to be declared ‘unlawful and void.’

The move has spurred questions about whether Trump can actually fire her — while the Federal Reserve Act doesn’t allow him to remove Fed officials at will, he can do so ‘for cause.’

For its part, the Fed has said it will abide by any court decision.

The situation is still developing, and gold market watchers are keeping a close eye on how it plays out. The yellow metal tends to fare better when interest rates are low, and some experts believe that a rate cut from the Fed could kick off its next move higher

The Fed’s next meeting is scheduled to run from September 16 to 17. Expectations are high that it will cut rates at that time, even though the latest data shows that its preferred measure of inflation, the personal consumption expenditures (PCE) price index, was up 2.6 percent year-on-year in July.

Core PCE, which excludes food and energy, saw a rise of 2.9 percent.

Bullet briefing — US drafts new critical minerals list, uranium miners make cuts

US drafts new critical minerals list

The US Department of the Interior has released a new draft critical minerals list, and the recommended additions include silver, as well as potash, silicon, copper, rhenium and lead.

Silver’s potential inclusion is turning heads in the mining community as market participants assess the potential impact for the metal. The critical minerals list is designed to guide federal strategy, investment and permitting deals as the US works to lock down supply of key commodities, meaning that silver-focused companies could see benefits such as tax breaks and faster timelines.

In total, the draft list has 54 minerals, with 50 included based on results from an economic effects assessment. Three were selected on the back of a qualitative evaluation, and zirconium is there because of the potential for a single point of failure in the US supply chain.

The list was set up after a 2017 executive order from Trump and is updated every three years.

It’s worth noting that silver and the other recommended additions aren’t officially critical minerals yet — the draft critical minerals list was posted for public comment on Tuesday (August 26), and feedback will be accepted for 30 days. It’s also worth noting that two commodities may be stripped of their critical mineral status — arsenic and tellurium have been recommended for removal.

Critical minerals lists vary from country to country based on individual needs, although in many cases they have similarities. In January 2024, a group of silver industry participants, including many major miners, sent a letter to Canada’s energy and natural resources minister proposing that silver be included in the nation’s critical minerals list; to date, it has not been added.

Uranium miners cut production guidance

Sweden’s government has proposed the removal of the country’s ban on uranium mining as it looks to reduce its reliance on imports of the energy fuel.

Uranium mining has been banned in Sweden since 2018, but the country has six operating reactors and generates around one-third of its power from nuclear energy.

The ban is set to be removed on January 1, 2026, and comes as nations increasingly look to nuclear power to fill their energy needs. It also comes amid supply questions — although demand is rising and prices are out of a years-long slump, miners have been slow to ramp back up post-Fukushima.

Just last week, Kazatomprom said it was lowering its 2026 production target compared to earlier estimates, cutting about 8 million pounds. Although the company sees stability in long-term uranium prices and strong sector fundamentals, it isn’t prepared to return to 100 percent levels.

Cameco (TSX:CCO,NYSE:CCJ) made a similar statement this week, saying its 2025 output will be impacted by delays in transitioning the Saskatchewan-based McArthur River mine to new mining areas. Production will be 4 million to 5 million pounds lower, although there is a chance for Cigar Lake to partially offset that loss.

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

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Crypto Market Update: Stablecoins Top US$283 Billion in Circulation, Bitcoin Slips

Investing 4 Mins Read

Here’s a quick recap of the crypto landscape for Friday (August 29) as of 12 noon (UTC).

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

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$108,747, a 3.3 percent decrease in 24 hours. Its lowest valuation of the day was US$108,198 and its highest price on Friday was US$112,652.

Bitcoin price performance, August 29, 2025.

Chart via TradingView

Bitcoin’s slip below the US$110,000 threshold stoked fears of a broader crypto market correction on Friday as liquidations doubled, the Federal Reserve’s preferred inflation gauge showed persistent price pressures, and Bitcoin flashed a potential risk pattern. Analysts warned the token could be edging toward bear market territory.

Adding to volatility, a long-dormant Bitcoin whale that resurfaced this month—after buying US$2.5 billion in Ethereum—shifted another US$1.1 billion on Friday.

Ether (ETH) was priced at US$4,335.28, down by 3.2 percent over the past 24 hours. Its highest was US$4,511.09 and its lowest was US$4,279.96.

Altcoin price update

  • Solana (SOL) was priced at US$204.82, down by 2.4 percent. Its lowest valuation on Friday was US$203.74, and its highest valuation was US$217.66.
  • XRP was trading for US$2.94, down by 4.4 percent in the past 24 hours, and at its lowest valuation of the day. Its highest valuation on Wednesday was US$2.98.
  • SUI (Sui) was trading for US$3.30, down by 4.3 percent in the past 24 hours. Its lowest valuation of the day was US$3.29, and its highest level of the day was US$3.50.
  • Cardano (ADA) was priced at US$0.8201, down by 3.8 percent. Its lowest valuation for Friday was US$0.817, and its highest valuation was US$0.8618.

Today’s crypto news to know

Stablecoins cross US$283 billion threshold record

The stablecoin market reached a new milestone on Friday as total supply climbing to $282.8 billion, according to data from DefiLlama.

That marks a 128 percent increase since January, driven by stronger demand for dollar-pegged tokens and fresh regulatory clarity in the US.

The surge also follows passage of the Genius Act, which sets out federal guidelines for stablecoin issuers and has been billed as a growth catalyst within the sector.

Analysts say stablecoins now serve as a “distribution channel” for US dollars, powering cross-border payments and on-chain settlement systems.

Eric Trump hails US–China leadership in Bitcoin

Speaking at the BTC Asia conference in Hong Kong, Eric Trump praised China’s influence on the digital asset industry and said the US and Beijing were “leading the way” in shaping Bitcoin’s future.

He credited the Middle East as another fast-moving hub for crypto adoption, while stressing Bitcoin’s ability to unite people across borders and cultures.

The younger Trump also added that his father’s administration had accelerated digital asset policy faster in seven months than the prior decade managed. He described America as “winning the digital revolution” with support from Wall Street institutions, sovereign wealth funds, and retirement investors.

Asked whether Bitcoin would be on the agenda in an upcoming US–China trade meeting, he suggested broader topics would dominate but said he “would certainly love to talk about bitcoin.”

Trump-Linked miner American Bitcoin targets September Nasdaq listing

American Bitcoin, a mining company backed by Eric Trump and Donald Trump Jr., is preparing to list on Nasdaq in September following its merger with Gryphon Digital Mining, Reuters reported.

The firm is majority-owned by Hut 8, which controls 80 percent of the business, while the Trump brothers are expected to collectively hold about 19 percent. The company has already raised $220 million to expand its operations and accumulate Bitcoin, adding 215 BTC to its balance sheet as of June.

With Bitcoin trading near US$112,000 this week, that stash is valued at roughly US$24 million.

CEO Asher Genoot said American Bitcoin aims to become one of the largest US mining firms, with backing from high-profile investors including Gemini founders Tyler and Cameron Winklevoss.

Hut 8’s own stock has rallied 29 percent this year. If listed today, American Bitcoin would rank among the top 30 public companies holding Bitcoin in the US.

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

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

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Cameco, Kazatomprom Production Cuts Stoke Uranium Market Tightness

Investing 5 Mins Read

Shares of Cameco (TSX:CCO,NYSE:CCJ) were on the rise after the uranium major announced it is reducing its annual production guidance due to expansion delays at the McArthur mine in Saskatchewan, Canada.

Instead of the projected 18 million pounds of U3O8 the company was aiming for from its McArthur River joint venture with Orano, the revised output tally reduces 2025’s production total to between 14 million and 15 million pounds.

In January, Cameco warned that delays at McArthur River — including slower-than-expected ground freezing, development setbacks and labor constraints — could affect its 2025 production outlook.

“We have determined that we are unable to fully mitigate the expected impact of the delayed development and slower than anticipated ground freezing in the first half of 2025,” Cameco’s statement notes.

Strong output from the Cigar Lake mine may help offset the McArthur River delays, the company said, adding that its diversified assets and risk management strategy position it to meet commitments and maintain long-term value.

In total, a strong performance at Cigar Lake could provide an additional 1 million pounds.

The uranium miner offered assurances that it will fulfill all delivery obligations with its customers.

“With favourable market prices for uranium today, we continue to have the option to buy in the spot market if it is advantageous for us to do so,” the company said, noting that it can source material through other means as well.

News of the shortfall sent shares of Cameco higher, with the company rising from C$105.91 on Thursday (August 28) to C$114 during after-trading hours. Values had pulled back to the C$105 range by midday on Friday (August 29).

Broader uranium market challenges

Cameco’s production cut is the second output reduction the sector has seen in as many weeks.

On August 22, Kazatomprom, Kazakhstan’s state-owned uranium producer, reported plans to lower output in 2026, saying that despite firm long-term prices, market conditions don’t support a return to full capacity.

In a corporate update, the company said its production will be about 10 percent lower compared to earlier targets, dropping from 32,777 metric tons of U3O8 to 29,697 metric tons. The reduction, equal to roughly 8 million pounds, or 5 percent of global supply, will largely stem from changes at its Budenovskoye joint venture.

After spiking to triple-digit levels unseen in more than a decade in early 2024, the spot price has been under pressure, falling as low as US$63.36 in March of this year. However, prices have steadily grown since then, reaching a second quarter high of US$79.01 on June 30 and currently holding at the US$75 mark. Kazatomprom notes that while the spot price remains volatile, the long-term uranium price has held steady at around US$80.

The company plans to exercise its option to operate within a 20 percent deviation of its 2026 subsoil use production levels, with formal guidance to come later. The sector major also also reported stable sulfuric acid supply for 2026, easing concerns after last year’s shortages forced a sharp output downgrade. However, its new acid plant won’t be ready until at least 2026, and higher mineral extraction taxes are expected to weigh on costs.

The updates came alongside half-year results showing that net profit was down 54 percent to 263.2 billion tenge (US$489.5 million), while revenue was off 6 percent at 660.2 billion tenge, largely on weaker sales volumes.

Despite lower near-term output, Kazatomprom said it remains committed to exploration in order to replenish its reserves and maintain its dominance as the world’s top uranium supplier.

Beyond market headwinds, the company highlighted Kazakhstan’s nuclear ambitions, with proposals for three domestic reactors that would require about 1.04 million pounds of uranium each year.

Uranium supply shortage unavoidable?

With tightening margins between uranium demand and global mine supply, these latest announcements are likely to impact market sentiment and could push prices higher.

Taking to X, formerly known as Twitter, Uranium Insider’s Justin Huhn posted an ominous message:

According to the World Nuclear Association, mine supply currently accounts for 90 percent of uranium demand, with the other 10 percent being fulfilled through secondary supply sources.

However, secondary supply is declining and mine supply has not grown to account for the discrepancy. This is likely to be further compounded by the addition of 70 new nuclear reactors that are currently in the construction phase.

Coupled with heightening energy demands from the artificial intelligence sector, analysts at FocusEconomics are projecting a higher spot price environment moving forward.

“The Consensus among our panelists is for uranium prices to remain well above the levels that prevailed in the 2010s for the rest of this decade, with prices forecast to hover between US$65 and US$80 per pound,” the firm wrote in an email. “That said, panelists don’t see a return to the highs of 2024, a period when the spot price likely got ahead of underlying market fundamentals due to investor exuberance.”

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

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Earthwise Advertising & Investor Awareness Campaign

Investing 2 Mins Read

About Earthwise Minerals

Earthwise Minerals Corp. (CSE: WISE; FSE: 966) is a Canadian junior exploration company focused on advancing the Iron Range Gold Project in southeastern British Columbia near Creston, B.C. The Company holds an option to earn up to an 80% interest in the fully permitted project, which is road-accessible and situated within a prolific mineralized corridor. The property covers a 10 km x 32 km area along the Iron Range Fault System and hosts multiple high-grade gold showings and large-scale geophysical and geochemical anomalies.

For more information, visit www.earthwiseminerals.com.

EARTHWISE MINERALS CORP.,

ON BEHALF OF THE BOARD

‘Mark Luchinski’

Contact Information:

Mark Luchinski
Chief Executive Officer, Director
Telephone: (604) 506-6201
Email: luch@luchccorp.com

Forward Looking Statements

This news release includes statements that constitute ‘forward-looking information’ as defined under Canadian securities laws (‘forward-looking statements’) including, without limitation, statements respecting the Offering and the intended use of proceeds therefrom. Statements regarding future plans and objectives of the Company are forward looking statements that involve various degrees of risk. Forward-looking statements reflect management’s current views with respect to possible future events and conditions and, by their nature, are subject to known and unknown risks and uncertainties, both general and specific to the Company. Although the Company believes the expectations expressed in its forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance, and actual outcomes may differ materially from those in forward-looking statements. Additional information regarding the various risks and uncertainties facing the Company are described in greater detail in the ‘Risk Factors’ section of the Company’s annual management’s discussion and analysis and other continuous disclosure documents filed with the Canadian securities regulatory authorities which are available at www.sedarplus.ca. The Company undertakes no obligation to update forward-looking information except as required by applicable law. The reader is cautioned not to place undue reliance on forward-looking statements.

For more information, please contact Mark Luchinski, Chief Executive Officer and Director, at luch@luchccorp.com or (604) 506-6201.

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Politics

Lawyers for Cook, DOJ trade blows at high-stakes clash over Fed firing

Politics 5 Mins Read

A federal judge in Washington, D.C., on Friday grilled lawyers for the Justice Department and Lisa Cook over President Donald Trump’s historic attempt to fire her from the Federal Reserve.

The landmark case is almost certain to be kicked to the Supreme Court for review. Despite the high-stakes nature of the legal dispute, Friday’s hearing ended after more than two hours without clear resolution. 

U.S. District Judge Jia Cobb, a Biden appointee, declined to immediately grant the temporary restraining order sought by Lisa Cook’s attorneys, which would keep her in her role on the Fed’s Board of Governors for now. 

Cook’s lawyers included the request for the temporary restraining order in the lawsuit filed in federal court on Thursday, challenging Trump’s attempt to fire her from her position on the independent board due to allegations of mortgage fraud. 

Instead, Judge Cobb ordered both parties to submit any supplemental briefs to the court by Tuesday, shortly before she dismissed the lawyers for the long weekend.

Cobb noted the novelty of the case before her, which involves the first attempt by a sitting president to oust a Federal Reserve governor ‘for cause.’ 

The fraud allegations were first leveled by Bill Pulte, a Trump appointee to the federal agency that regulates Fannie Mae and Freddie Mac. He accused Cook of claiming two primary residences in two separate states in 2021, with the goal of obtaining more favorable loan conditions. 

Trump followed up by posting a letter on Truth Social earlier this week that he had determined ‘sufficient cause’ to fire Cook, a dismissal he said was ‘effective immediately,’ prompting her attorneys to file the emergency lawsuit.

The crux of Friday’s arguments centered on the definition of what ‘for cause’ provisions must entail for removal from the board under the Federal Reserve Act, or FRA, a law designed to shield members from the political whims of the commander in chief or members of Congress. 

The arguments also centered on Cook’s claims in her lawsuit that Trump’s attempt to fire her amounts to an illegal effort to remove her from the Fed well before her tenure is slated to end in January 2038 to install his own nominee. 

Lawyers for Cook argued that her firing was merely a ‘pretext’ for Trump to secure a majority on the Fed board, a contention that Cobb admitted made her ‘uncomfortable.’

They also attempted to poke holes in the mortgage fraud allegations, which they said were made on social media and ‘backfilled.’

The case ‘obviously raises important questions’ about the Federal Reserve Board, Cobb said shortly before adjourning court.

She also noted that she had not yet made a determination about the alleged ‘irreparable harm,’ prompting her to set the Tuesday filing deadline.

Cook’s attorneys argued Friday that Trump’s attempt to fire her violates her due process rights under the Fifth Amendment, as well as her statutory right to notice and a hearing under the Federal Reserve Act. 

Her lawyer, Abbe Lowell, noted on several occasions that there was no ‘investigation or charge’ from the administration prior to Trump’s abrupt announcement that he would fire Cook.  

Lowell also vehemently disputed the Justice Department’s allegations that Cook had an ‘opportunity’ to respond to the mortgage fraud accusations leveled by Bill Pulte, noting that they were made just 30 minutes before Trump called for Cook to be removed.  

He told Cobb that it was the latest attempt by the Trump administration to ‘litigate by tweet.’

Lawyers for the Trump administration, for their part, argued that the president has broad latitude to determine the ‘for cause’ provision.

Justice Department attorney Yakoov Roth told Cobb that the determination of when to invoke the provision should be left to the president, regardless of whether it is viewed by others as ‘pretextual.’

‘That sounds to me like the epitome of a discretionary determination, and that is when the president’s power is at [its] apex,’ Roth said.

DOJ lawyers also noted that Cook, to date, has not disputed any of the allegations in question and argued there is ‘nothing she has said’ about the allegations that would cause her to not be fired.

‘What if the stated cause is demonstrably false?’  Cobb asked, going on to cite hypothetical concerns that a president could, theoretically, use allegations to stack federal boards with majorities.

As for the issue of ‘irreparable harm,’ Justice Department attorneys argued that it would be more harmful for Cook to remain in office, arguing that the ‘harm of having someone in office who is wrongfully there … outweighs the harm of someone being wrongfully removed from office.’

Cook’s attorneys said Friday that in reviewing the lawsuit, the court need not itself establish a definition of what ’cause’ means under the Federal Reserve Act.

Instead, Lowell suggested, the court should instead work backwards to determine whether the accusations leveled by Pulte were in fact ‘backfilled’ by Trump to form the basis of her removal.  

‘It’s very difficult to come up with an 11-page definition of what it is,’ Lowell said Friday of the ’cause’ definition, adding that it is far easier to come up with a one-page definition of ‘what it’s not.’ 

‘Whatever it is, it’s not this,’ Lowell said.

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