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Crypto Market Recap: U.S. Loses $2B in Bitcoin Amid Tariff Shock, Pakistan Bets on Mining

Here’s a quick recap of the crypto landscape for Monday (April 7) as of 9:00 p.m. UTC.

Bitcoin and Ethereum price update

At the time of this writing, Bitcoin (BTC) was displaying a slight recovery to US$78,142.37, down 1.8 percent in 24 hours. The day’s range has brought a low of US$75,822.10 and a high of US$80,818.20.

Bitcoin performance, April 7, 2025.

Bitcoin performance, April 7, 2025.

Chart via TradingView.

Within a 24 hour period, Bitcoin saw US$468.88 million worth of positions closed due to liquidations, based on data from Coinglass at the time of this writing. However, as the top cryptocurrency’s price plummets, its network has demonstrated a surge in computational power, with the hashrate establishing a new all-time high.

Data gathered from Glassnode by CoinDesk shows Bitcoin’s hashrate hit 1.025 zetahashes per second on April 4 for the first time since its inception, exceeding the previous record set on January 31 of this year.

Bloomberg strategist Mike McGlone suggested to Cointelegraph that Bitcoin could potentially fall to US$10,000.

Ethereum (ETH) is priced at US$1,544.90, a 5 percent decline over the past 24 hours.

The cryptocurrency reached an intraday low of US$1,486.10 and a high of US$1,608.86. Coinglass data shows liquidations totalling US$348.04 million in 24 hours.

Altcoin price update

  • Solana (SOL) is currently valued at US$105.93, down 1.9 percent over the past 24 hours. SOL experienced a low of US$101.06 and a high of US$110.64 on Monday.
  • XRP is trading at US$1.90, reflecting a 4.9 percent decrease over the past 24 hours. The cryptocurrency recorded an intraday low of US$1.76 and a high of US$1.97.
  • Sui (SUI) is priced at US$2.01, showing an increaseof 3 percent over the past 24 hours. It achieved a daily low of US$1.83 and a high of US$2.04.
  • Cardano (ADA) is trading at US$0.5771, reflecting a 2.1 percent decrease over the past 24 hours. Its lowest price on Monday was US$0.5374, with a high of US$0.5926.

Crypto news to know

Strategy to log US$5.9 billion unrealized loss

Michael Saylor’s Strategy (NASDAQ:MSTR) said it will register an eye-watering US$5.9 billion unrealized loss in Q1 after adopting fair-value accounting for its Bitcoin reserves — a policy shift that reflects BTC’s steep pullback this year.

The loss comes after a fresh buying spree in early 2025, which left the firm with roughly US$1 billion in paper losses on recent acquisitions alone. The company will also log a US$13 billion boost to retained earnings due to the new accounting standards, highlighting the volatile nature of being Wall Street’s leading BTC proxy.

Strategy shares tumbled as much as 14 percent on Monday, raising new questions about whether Saylor’s “buy-and-hold forever” ethos can withstand institutional scrutiny in a more volatile macro climate.

Mantra launches US$108 million ecosystem fund for RWA and DeFi projects

Mantra, a layer-1 blockchain built for tokenized real-world assets (RWAs), has launched the Mantra Ecosystem Fund (MEF), a US$108,888,888 ecosystem fund to accelerate the growth and adoption of projects and startups on its network.

According to a press release, MEF will find potential investments through Mantra’s large network of partners, which includes incubators, accelerators and investment firms like Laser Digital, Shorooq and others.

Mantra CEO John Patrick Mullin told Cointelegraph that the fund will operate an “open-arms policy, welcoming projects at any developmental stage globally with a particular focus on RWA’s and DeFi.”

Pakistan enlists Changpeng Zhao as crypto advisor

Pakistan’s Crypto Council (PCC), a newly formed regulatory body overseeing the country’s adoption of blockchain technology and digital assets, has appointed former Binance CEO Changpeng Zhao (CZ) to act as a strategic advisor on matters such as regulation, infrastructure and adoption.

‘Pakistan is opening its doors to the future of finance,’ said PCC CEO Bilal Bin Saqib.

‘And who better to guide us on this journey than CZ — a pioneer who built the world’s largest crypto exchange and changed the way billions think about financial freedom.’

Last month, Saqib told Bloomberg that Pakistan intends to pursue international investment in the crypto sector. The country aims to capitalize on its young, tech-savvy population and its potential as a growing, cost-effective market.

CZ was also tapped to advise the Kyrgyz Republic on blockchain and crypto-related regulation on April 3.

Hong Kong okays staking for licensed crypto exchanges

Hong Kong’s Securities and Futures Commission has unveiled formal guidelines allowing licensed exchanges and funds to offer staking services, provided strict custodial and disclosure requirements are met.

Staking, crucial for securing proof-of-stake networks and generating passive returns, had previously been a regulatory gray area in the city. Under the new rules, exchanges must retain direct control of client assets, explicitly barring third-party delegation, and provide full transparency on risks, fees and lockup periods.

The move reflects Hong Kong’s ambitions to rival other financial hubs and attract global digital asset firms amid the regulatory vacuum in jurisdictions like the US, where staking remains under scrutiny.

South Korea’s US$890 billion pension fund to adopt blockchain

South Korea’s National Pension Service (NPS), one of the world’s largest public pension funds, is moving to incorporate blockchain technology into its operational infrastructure, according to a recent Seoul Economic Daily report.

With over US$800 billion in assets under management, the NPS aims to use blockchain to improve tracking of transactions, client withdrawals and investment flows, especially for foreign clients.

Though the fund is not directly investing in crypto, it has taken equity positions in firms like Coinbase and Strategy, signaling long-term confidence in the industry’s underlying technology.

The NPS initiative aligns with the nation’s growing retail enthusiasm for crypto. South Korea now boasts more than 16 million crypto investors, a surge that has accelerated since US President Donald Trump’s electoral win, with market participants anticipating a more favorable global crypto environment.

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.

This post appeared first on investingnews.com
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China’s AI innovation is ‘accelerating’ but US remains dominant, White House says

China’s innovation in artificial intelligence is ‘accelerating,’ Michael Kratsios, the director of the White House Office of Science and Technology, told Fox News Digital – but he maintained that the United States remains the world’s dominant power in AI and the Trump administration’s ‘promote and protect’ strategy will solidify that standing. 

Kratsios, who served as chief technology officer during the first Trump administration, sat for an exclusive interview with Fox News Digital on Monday.

‘The White House in the first Trump administration redefined national tech policy to focus on American leadership in emerging technologies, and those were technologies like artificial intelligence, quantum computing and 5G, [which] were big back then,’ Kratsios said. ‘The president, at that time, signed the executive order prioritizing U.S. leadership in AI, back in 2019 when people weren’t even talking about it.’

‘He recognized that it was critical for the U.S. to lead in AI,’ Kratsios said. ‘We got the ball rolling on what the U.S. national strategy is and how we would win.’ 

During his first administration, Trump signed the first-ever executive order on AI in 2019. He also took executive action in 2020 to establish the first-ever guidance for federal agency adoption of AI to deliver services to the American people and ‘foster public trust’ in the technology. 

But Kratsios said that when former President Joe Biden took office, the attitude of his administration toward AI shifted to ‘one of fear and one of over-regulation.’ 

‘There was a fixation on what I would call harms, so, spending time and energy thinking about all the things that could go wrong with this technology, versus having a balanced approach, where you try to minimize things that could go poorly, and more importantly, look at ways this technology can transform America for the better,’ Kratsios explained, noting that Biden officials were ‘harms focused,’ which he said was ‘manifested in a lot of the policies that they did, in the way that they were very reticent to applying some of this technology to a lot of the issues that government faced, like how you make agencies more efficient.’ 

Kratsios reflected on Trump’s AI message during the campaign, saying he ‘made it very clear that we as a country need to win and be dominant in artificial intelligence.’ 

‘And he acted very decisively,’ Kratsios said, pointing to Trump’s move on his third day in office to direct him and other officials to develop an AI action plan. 

‘It was a way to review everything that had been done under the Biden administration and turn the page with an agenda that’s focused on sustaining and ensuring continued U.S. leadership in this particular technology, and that’s what we’ve been working on,’ Kratsios said. 

Kratsios explained that the U.S. is ‘the leader’ in AI, specifically when it comes to the ‘three layers of technology,’ which he said are chips or high-end semiconductors, the model itself and the application layer. 

‘If you look at all three of those layers, the U.S. is the leader,’ Kratsios said. ‘We have the best chips. We have the best models. And we have the best applications to date.’ 

But he warned that the Trump administration is ‘seeing the velocity of innovation’ from China.

‘We’re seeing the speed at which the PRC is catching up with us is actually accelerating,’ he explained. 

Kratsios referenced DeepSeek, which was released by a Chinese firm earlier in 2025 and develops large language models.

‘I think what DeepSeek revealed is that the Chinese continue to make progress and are trying really hard to catch up with us on those three layers,’ Kratsios said. 

But the key to maintaining U.S. dominance in the space is the Trump administration’s ‘promote and protect’ strategy, Kratsios explained. 

Kratsios said the Trump administration will ‘promote’ by continuing to accelerate the development of technology and encouraging more Americans, American companies and countries around the world to use that technology. 

‘And then on the protect side, what is it that the U.S. has which could be useful to the PRC to accelerate their efforts in AI? We protect that technology from access by the Chinese,’ Kratsios said, pointing to high-end semiconductors and chips that the Chinese ‘shouldn’t have access to, because that would make it easier for them to accelerate their efforts.’ 

‘How do we speed up innovation here at home and slow down our adversaries?’ Kratsios said. 

The answer, Kratsios said, is AI research and development that continues to drive innovation. He also said the Trump administration needs to continue to remove regulations and barriers to AI innovation, and also prepare and train Americans in the workforce to ‘better leverage this technology.’ 

Kratsios said another step is ensuring that foreign allies partner with the U.S. to ‘make sure that they are also keeping the PRC at bay and that they continue to use the American AI stack.’ 

‘So, if you’re any country in the world that wants to use AI, you’d want to use an American stack,’ he explained. ‘So we should make it as easy as possible in order for us to export our technology to like-minded partners.’ 

As for China, Kratsios said the PRC ‘is probably one of the most sophisticated surveillance states in the world, and that is underpinned by their own artificial intelligence technology.’ 

‘I think the goal of the United States should be to continue to be the dominant power in AI. And there are certain inputs to the development of AI which we can control, and which we would not want the PRC to have access to,’ he said. ‘And the most important pieces are sort of these very high-end chips that they can use to train models, and also certain equipment that would allow them to build their own very high-end chips.’ 

He added: ‘And if we can kind of continue to make it challenging for them to do that. I think it’ll be the benefit of the U.S.’ 

Looking ahead, Kratsios echoed the president, saying the U.S. is in the ‘golden age’ and that this special moment in time is ‘underpinned by unbelievable science and technology.’ 

‘We want to put an American flag on Mars,’ Kratsios said. ‘We want to fly supersonic again. We want drones to be delivering packages around the world. We want AI to be used by American workers to allow them to do their jobs better, safer and faster.’ 

He added: ‘We have an opportunity to all these things, like so much more, in these four years. And this office is going to be the home for driving that innovation across so many technological domains.’ 

This post appeared first on FOX NEWS
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Elon Musk scraps with Chuck Schumer, suggesting the senator profits from government fraud

Business tycoon Elon Musk floated the idea that Senate Minority Leader Chuck Schumer, D-N.Y., is somehow profiting off of government fraud, though the lawmaker has pushed back.

‘Chuck, I’m starting to think you’re getting a piece of the action with the government fraud. But no, that couldn’t possibly be the reason, could it?’ Musk posted early Tuesday morning.

Musk, who has been spearheading the Department of Government Efficiency (DOGE) effort to expose waste, fraud and abuse in the federal government, made the comment in response to a Monday post in which Schumer accused DOGE of ‘sabotaging’ Social Security, Medicare and Medicaid — the post reflected sentiments Schumer had conveyed during a Senate speech.

Schumer fired back in response to Musk’s suggestion he could be benefiting from government fraud.

‘Another Elon lie. He wants you to think anyone who dares to stand up to him is committing fraud, meanwhile he’s taking tens of billions from the government,’ Schumer declared in a post on Tuesday.

Elon Musk says he hopes for tariff-free future for US, Europe

Early Tuesday morning, Musk fired off a response to a post in which Schumer suggested that Musk is slashing Social Security benefits.

‘Make no mistake: What Elon Musk is doing at Social Security is cutting benefits,’ Schumer said in a post on Monday, which echoed his speech. 

‘The intern running Schumer’s social media account is lying,’ Musk shot back Tuesday on X.

Trump answers question about how long Elon Musk will remain at DOGE

During the speech, Schumer claimed that ‘Elon Musk is cutting Social Security benefits.’

‘When offices close down, when websites crash, when phone lines shut off, that’s no different than cutting benefits,’ Schumer said.

This post appeared first on FOX NEWS
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Where are they now? Hunter Biden’s ex-business partners praise Trump, MAGA following Biden departure

Hunter Biden’s former business partners are no longer under the same scrutiny now that investigations into whether the former president’s son used his family name for financial gain are over. 

Devon Archer and Jason Galanis, who both collaborated with Biden on various business ventures between 2012 and 2015, received pardons and commutations, respectively, from President Donald Trump after he took office. 

Archer, who has worked over the years to gain favor with Trump’s world, signaled he would be interested in working for the Trump administration were a position offered to him, according to the New York Times. ‘I’m full MAGA now,’ he told the Times. ‘They’re more my people.’

Archer was reportedly given the cold-shoulder by the Biden family during President Joe Biden’s tenure in the Oval Office, and as he protested his innocence amid Republicans’ probe into the Biden family, Archer quietly made inroads with the Trump administration.

While Archer awaits a potential job in the Trump administration, he is reportedly working on a book and documentary chronicling his experiences. Archer is also reportedly working on a business project in the crypto industry as well. 

As a result of their pardons, both Archer and Galanis did not have to serve prison sentences handed down to them in relation to defrauding investors and a Native American tribal entity of tens of millions of dollars through a company for which Hunter Biden was listed as the vice chairman. 

In an interview on Fox News’ ‘Hannity’ this month, Galanis thanked President Trump and lauded Republicans, such as Oversight Committee Chairman James Comer, for bringing ‘the proof’ to light about ‘the Biden crime family.’ 

Galanis said during the interview that his ‘legitimate’ businesses became ‘illegitimate’ after they were aligned with the president’s son. ‘100% of it was influence peddling,’ Galanis said when asked about his view of the Biden family’s business practices. ‘I saw it firsthand.’ 

Meanwhile, James Biden, Hunter’s uncle, is not sailing so smoothly, with Republicans requesting that the Trump administration prosecute the former president’s brother for lying to Congress. 

James Biden allegedly denied that his brother, the former president, met in May 2017 with his son’s business associate Tony Bobulinski while pursuing a deal with a Chinese-owned energy company, CEFC China Energy. 

Bobulinski, a key witness during the GOP’s impeachment inquiry on account of claims he was privy to unethical business dealings by the Biden family, recently lost a defamation battle in court against Fox News host Jessica Tarlov. 

Bobulinski was seeking $30 million in damages after Tarlov claimed during an episode of ‘The Five’ that Bobulinski’s legal fees were being paid for by a Trump-aligned political action committee.

Another notable ex-business partner of Hunter Biden, Eric Schwerin, has kept a low profile ever since Republicans on the House Oversight Committee released his testimony from the GOP’s impeachment inquiry. In his testimony, Schwerin stated he was ‘not aware of any financial transactions or compensation’ that Joe Biden received as vice president related to his family’s business dealings. 

Hunter Biden’s ‘Sugar brother’ and lawyer, Kevin Morris, who helped finance the first son’s legal fees with a reported $6.5 million, later told associates that his generosity left him financially tapped. 

According to a report by the N.Y. Post, Morris faced his own ethical issues when he was accused of spying on a movie production about President Biden called ‘My Son Hunter’ that was being made in Serbia. The filmmaker involved with the project, filmaker Phelim McAleer, hit Morris with a bar complaint in 2022.

‘He used deceit to secure such access by not disclosing he was Mr. Biden’s lawyer. Mr. Morris used his cover as a documentary filmmaker to conceal his true purpose: performing legal investigative work on behalf of his client, Mr. Hunter Biden,’ McAleer said in his bar complaint.

The California Bar Association declined to disbar Morris in late 2024.

Ye Jianming, a Chinese billionaire and former chairman of CEFC China Energy, one of the companies Republicans alleged Hunter Biden sought to gain favor with using his family name, has reportedly disappeared from public view, Reuters reported in 2023. While his whereabouts are unknown, according to Reuters, Jianming’s name has appeared in graft trials of senior Chinese Communist Party officials and state bank executives.  

This post appeared first on FOX NEWS
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‘A moral stain’: Former UK prime minister, Global Commission deliver new report calling to eradicate modern slavery by 2030

A group of powerful anti-slavery advocates issued a warning Tuesday, declaring that “millions of lives are at risk” unless urgent, coordinated international action is taken to eliminate modern slavery by the year 2030.

Chaired by former UK prime minister, Baroness Theresa May, the Global Commission on Modern Slavery and Human Trafficking formally delivered a new report to UN Secretary-General António Guterres in New York. The 150-page report, entitled “No Country is Immune,” paints a grim picture of systemic failures and global inaction, while outlining clear steps needed to provide help to the millions of people currently trapped in modern slavery worldwide.

According to the commission, the report is meant as a wake-up call to members of the United Nations, warning that failure to act will not only hinder the achievement of Sustainable Development Goal 8.7, which aims to eradicate modern slavery by 2030, but could also endanger countless more lives. It calls for immediate, tangible changes across governments, businesses and civil society sectors.

“Talking to organizations involved in supporting victims and dealing with this issue, we realized the political will to act had gone. And that’s primarily why we’ve produced this report, to raise the political momentum and get people to recognize they need to act now,” said May.

Central to the report is a newly developed Prevention Framework, modeled after the 2014 Prevention of Genocide Framework by Adama Dieng, former UN Under-Secretary-General and Special Advisor of the Secretary General on the Prevention of Genocide. This model seeks to help nations understand the root causes of modern slavery and provide practical tools for identifying and combating its many forms.

An estimated 50 million people worldwide are enslaved today, which includes forced labor and forced marriages.

The commission’s policy recommendations include urging UN member states to adopt enforceable and effective domestic laws, establish a unified global definition of modern slavery and demand greater accountability from businesses to eliminate forced labor in global supply chains.

Also in attendance at the report launch event was Nasreen Sheikh, a survivor of modern slavery turned advocate, who urged world leaders to confront the consequences of unconscious global consumption and economic indifference.

This post appeared first on cnn.com
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Israel orders closure of six UN schools in East Jerusalem after raids

Israeli forces raided six United Nations schools in East Jerusalem, ordering them to close within 30 days, according to UNRWA, the UN agency for the Palestinian refugees, and the Israeli Ministry of Education.

Approximately 800 students will be directly impacted by the closure orders and may not be able to finish the school year, UNRWA’s Commissioner-General Philippe Lazzarini said on social media. Schools run by the agency serve Palestinians in areas occupied by Israel, including East Jerusalem, the West Bank and Gaza.

“UNRWA schools are protected by the privileges and immunities of the United Nations,” Lazzarini said. “Today’s unauthorized entries and issuance of closure orders are a violation of these protections.”

Israel’s Ministry of Education said in a statement that parents were directed to register their students at other schools. “The professional staff at the Ministry of Education continue to support the educational framework for each student.”

In October, Israel’s parliament passed a law banning UNRWA from activity within Israel and revoking the 1967 treaty that allowed the agency to carry out its mission.

Yulia Malinovsky, a member of the Israeli parliament who sponsored the bill to ban UNRWA, confirmed the closure orders. The schools will have until May 8, she said.

“We’re also working very hard to close the water and electricity to all of UNRWA’s facilities (in areas occupied by Israel),” Malinovsky said. “We’re doing everything we can to implement the UNRWA bills fully in all institutions and in all aspects.”

Israel has long sought to dismantle the UN agency, arguing that some of its employees are members of Hamas and that UNRWA’s education system teaches students to hate Israel.

A UN-commissioned inquiry found that examples in textbooks of anti-Israel bias were “marginal” but nonetheless constituted “a grave violation of neutrality.”

The Israel Defense Forces (IDF) have alleged that a handful of UNRWA’s 13,000 employees in Gaza participated in the October 7 massacre. UNRWA has repeatedly denied these accusations, saying there is “absolutely no ground for a blanket description of ‘the institution as a whole’ being ‘totally infiltrated.’”

UNRWA was founded by the United Nations a year after the 1948 creation of Israel that led to the displacement of hundreds of thousands of Palestinians from their homes in an event known by Palestinians as the “Nakba” (catastrophe).

The agency, which began by assisting about 750,000 Palestinian refugees in 1950, now serves some 5.9 million across the Middle East, many of whom live in refugee camps in the Gaza Strip, the West Bank and East Jerusalem as well as in Jordan, Lebanon, Syria.

In the Gaza Strip, which has been ravaged by a devastating Israeli war for more than a year, UNRWA serves some 1.7 million Palestinian refugees. In the West Bank and East Jerusalem, it assists around 871,500 refugees.

This post appeared first on cnn.com
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Heliostar Drills 8.85 Metres Grading 25.0 g/t Gold and 768 g/t Silver at the La Colorada Mine, Sonora, Mexico

HIGHLIGHTS:

  • 8.85m grading 25.0 g/t gold and 768 g/t silver
  • 8.55m grading 5.52 g/t gold and 121 g/t silver
  • 3.5m grading 5.41 g/t gold and 87 g/t silver
  • 5.5m grading 11.1 g/t gold
  • 2.9m grading 10.5 g/t gold
  • 4.6m grading 5.78 g/t gold
  • 5.75m grading 4.72 g/t gold
  • Higher-grade intercepts demonstrate underground potential beyond the current open pit
  • The success of this drill program called for additional step-out drilling. Results for these drill holes are expected in Q2, 2025
  • La Colorada technical report update incorporating these results is expected in mid-2025

Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) (‘Heliostar’ or the ‘Company’) is pleased to announce additional results from a 12,500-metre drilling program at the La Colorada Mine in Sonora, Mexico. La Colorada restarted production in early January 2025, and the current drill program is intended to expand the mineral reserves ahead of an updated technical report and expansion decision planned for mid-2025.

Heliostar CEO, Charles Funk, commented, ‘Heliostar closed the first quarter of 2025 with a US$27M (C$38M) cash balance, over half of which was generated from operating profits. This places the Company in a strong position to achieve our planned production and resource growth goals. Today’s results reflect these growth plans and further cement our confidence in the future of La Colorada. They are expected to positively impact the economics of the mine when we update the La Colorada technical report in mid-2025. Our goal is for the study to support a decision to expand production to 50,000 to 100,000 ounces of gold per year. Additionally, the high-grades intersected demonstrate a potential underground future for the mine. We intend to target these deeper zones in more detail after we complete the technical report.’

Drill Results Summary

Mineralization at La Colorada’s Creston Pit is predominantly hosted in three veins: the North, Intermediate and South Veins (Figure 1). These veins trend northeast-southwest to east-west, dip northward and are surrounded by halos of smaller mineralized vein zones. The Creston Pit has historically mined oxide gold and silver from all three of these veins. A current Probable Mineral Reserve of 312,000 ounces of gold grading 0.76 grams per tonne (g/t) gold and 5,074,000 ounces of silver at 10.1 g/t silver is defined at the Creston Pit1.

A technical review of expansion potential identified two opportunities for reserve growth. The near-surface extensions of known veins with little or no drill data and exploring the under-sampled mineralization beneath the pit. Both opportunities were defined using historical drilling, blast hole data, mining shapes, and the geological model.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/7729/247879_ef50e500f496a835_003.jpg

Figure 1: Plan view of the Creston Pit showing historic drilling, blast hole samples and Heliostar drill holes.
Selected intercepts are labelled.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7729/247879_ef50e500f496a835_003full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/7729/247879_ef50e500f496a835_004.jpg

Figure 2: Cross-section view looking west at the western end of the Creston Pit. The section shows historic drilling and new Heliostar drill hole results below the planned pit boundary.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7729/247879_ef50e500f496a835_004full.jpg

Blast hole data clearly shows the potential for a continuation of veins at shallow depths. They contain elevated gold grades that continue to the edge of the pit walls, where they remain open for expansion (Figure 1). At depth, drill spacing is wider than the area above. Additional drilling allows for improved estimation of grade and continuity.

The Company has completed seventy-two holes totalling 11,075 metres in the program to date. This release reports results for twenty-three new holes. The majority of the new drill holes targeted extensions of the North, Intermediate, and South Veins in areas where drilling is widely spaced yet within the current resource. They aim to add ounces to the overall El Creston resources and reserves.

Assay results show narrow to wide, low- to high-grade oxide gold intercepts. Targeted vein zones consistently return intercepts above the 0.16 g/t gold-equivalent cutoff grade of reserves within the Creston pit. The results may increase the tonnes and grade of mineralization in an updated pit shell. If so, that would add to the total reserves in an updated technical report.

Further, the success of the drill program to date has required modification of the remaining drill program plans. Numerous step-out drill holes have been added to follow-up on intercepts reported here. Results remain pending for these follow-up drill holes and are expected to be received in April and May.

Next Steps

Results from the current drill program are being incorporated into a resource model. They will support a reserve update to be published with a technical report in mid-2025.

This drill program is important because if it increases the volume of rock containing gold mineralization, it could improve the overall mine economics. Any zones of waste material with new gold intercepts from this program have the potential to reduce the overall strip ratio of the Creston pit expansion.

That, in turn, could reduce the up-front capital requirements for the restart and improve the economics of the Technical Report. This study will be the basis of a decision for the expansion of production at La Colorada.

The Company anticipates additional drilling results from the current program will be released in Q2, 2025.

La Colorada Mineral Reserves Statement

Classification Zone AuEq
Cut-off
(g/t)		 Tonnes
(kt)		 Gold Grade
(g/t Au)		 Silver
Grade
(g/t Ag)		 Contained
Gold
(koz)		 Contained Silver 
(koz)
Probable El Crestón 0.160 12,841 0.76 10.1 312 4,181
Veta Madre 0.175 1,905 0.70 3.1 43 189
La Chatarrera 0.164 3,413 0.20 6.4 22 704
Total 18,159 0.65 8.69 377 5,074

 

1. La Colorada Operations, Sonora, Mexico, NI 43-101 Technical Report (the ‘Report’) is dated January 11, 2024, has an effective date of December 4, 2024.

Drilling Results Table

HoleID From
(metres)		 To
(metres)		 Interval
(metres)		 Au
(g/t)		 Ag
(g/t)		 % True
Width		 Comment
24-LCDD-262 36.35 40.4 4.05 0.53 8.6 94 South Vein
24-LCDD-263 Abandoned
24-LCDD-264 165.05 178.4 13.35 0.34 43 74 North Vein
24-LCDD-265 8.35 11.1 2.75 0.34 6.2 28 South Vein
and 15.7 20.55 4.85 0.24 5.2 28 South Vein
and 76.9 92.3 15.4 0.19 2.8 44 South Vein
24-LCDD-266 22.3 28.95 6.65 0.50 2.5 82 South Vein
24-LCDD-267 No significant intervals
24-LCDD-268 15.85 28.1 12.25 0.40 4.8 15 South Vein
and 77.9 90.0 12.1 0.19 6.8 61 South Vein
24-LCDD-269 163.75 181.65 17.9 1.69 8.8 84 North Vein
including 167.7 172.3 4.6 5.78 16 84 North Vein
24-LCDD-270 24.55 33.4 8.85 1.89 82 89 South Vein
including 29.0 33.4 4.4 3.52 155 90 South Vein
24-LCDD-271 4.0 11.95 7.95 0.38 12 84 Intermediate Vein
and 50.0 58.85 8.85 25.0 768 71 South Vein
50.0 58.85 8.85 10.4 768 71 Top-cut to 20 g/t gold
and 64.2 68.0 3.8 4.32 178 70 South Vein
24-LCDD-272 2.05 35.6 33.55 1.04 22 68 Intermediate Vein
including 6.0 8.85 2.85 6.10 135 68 Intermediate Vein
and 70.2 80.85 10.65 0.22 5.4 81 South Vein
and 90.8 94.3 3.5 5.41 88 79 South Vein
90.8 94.3 3.5 4.31 88 79 Top-cut to 20 g/t gold
including 90.8 91.35 0.55 27.0 433 79 South Vein
90.8 91.35 0.55 20.0 433 79 Top-cut to 20 g/t gold
and 103.65 104.4 0.75 10.3 255 79 South Vein
and 107.55 112.05 4.5 0.84 23 79 South Vein
24-LCDD-273 7.85 10.2 2.35 0.45 10 79 Intermediate Vein
and 48.0 69.75 21.75 2.37 62 87 South Vein
48.0 69.75 21.75 1.97 62 87 Top-cut to 20 g/t gold
including 59.25 67.8 8.55 5.52 121 87 South Vein
59.25 67.8 8.55 4.50 121 87 Top-cut to 20 g/t gold
24-LCDD-274 103.8 126.15 22.35 0.21 6.5 67 North Vein
and 137.4 147.6 10.2 0.39 6.4 67 North Vein
25-LCDD-275 20.4 23.35 2.95 2.07 166 75 Intermediate Vein
and 29.25 33.75 4.5 0.40 9.0 89 Intermediate Vein
and 88.85 101.85 13.0 0.57 8.8 42 Intermediate Vein
and 120.55 128.1 7.55 0.72 13 100 South Vein
25-LCDD-276 104.7 135.95 31.25 0.53 4.2 49 North Vein
and 155.15 170.25 15.1 0.45 2.4 49 North Vein
25-LCDD-277 No significant intervals
25-LCDD-278 6.25 9.0 2.75 1.06 63 100 South Vein
and 14.1 33.0 18.9 0.61 31 100 South Vein
25-LCDD-279 0.0 5.6 5.6 0.72 30 100 Intermediate Vein
and 62.0 83.85 21.85 0.63 9.6 99 South Vein
25-LCDD-280 130.05 135.6 5.55 0.26 57 88 North Vein
and 141.85 145.9 4.05 0.27 54 88 North Vein
25-LCDD-281 Abandoned
25-LCDD-282 11.15 16.5 5.35 0.67 39 33 Intermediate Vein
25-LCDD-283 60.5 66.2 5.7 1.51 20 90 Intermediate Vein
and 82.15 99.65 17.5 1.90 6.8 84 Intermediate Vein
82.15 99.65 17.5 1.53 6.8 84 Top-cut to 23 g/t gold
including 89.05 91.95 2.9 10.5 15 84 Intermediate Vein
89.05 91.95 2.9 8.32 15 84 Top-cut to 23 g/t gold
and 107.0 110.0 3.0 1.92 21 85 Intermediate Vein
and 127.0 132.5 5.5 11.1 23 88 Intermediate Vein
127.0 132.5 5.5 9.14 23 88 Top-cut to 23 g/t gold
and 165.1 173.0 7.9 0.20 1.0 96 South Vein
and 179.95 191.85 11.9 0.23 2.2 96 South Vein
25-LCDD-284 52.0 61.0 9.0 1.87 3.2 84 Intermediate Vein
including 53.0 55.4 2.4 6.14 6.1 84 Intermediate Vein
and 69.2 74.6 5.4 0.52 3.2 84 Intermediate Vein
and 128.0 150.7 22.7 0.53 2.1 84 South Vein
25-LCDD-285 45.3 50.2 4.9 0.36 27 87 Intermediate Vein
and 79.45 100.75 21.3 0.28 9.8 84 Intermediate Vein
and 109.65 123.55 13.9 0.24 2.7 87 Intermediate Vein
and 130.15 140.1 9.95 0.38 5.0 99 Intermediate Vein
and 190.2 201.0 10.8 1.25 0.7 92 South Vein
including 199.05 201.0 1.95 5.94 1.1 94 South Vein
25-LCDD-286 38.05 43.8 5.75 4.72 10 92 Intermediate Vein
including 38.05 43.8 5.75 2.41 10 92 Top-cut to 23 g/t gold
and 67.5 95.45 27.95 0.35 7.7 95 Intermediate Vein
and 163.9 171.15 7.25 0.59 5.1 91 South Vein
25-LCDD-287 8.15 17.4 9.25 1.02 2.5 79 Intermediate Vein
and 28.05 39.7 11.65 0.63 6.3 74 Intermediate Vein
and 56.5 61.45 4.95 0.33 3.0 68 Intermediate Vein
and 116.0 146.75 30.75 0.18 1.4 86 South Vein
25-LCDD-288 13.4 17.0 3.6 0.46 15 91 Intermediate Vein
and 48.5 70.1 21.6 0.33 2.5 77 Intermediate Vein
and 120.75 125.5 4.75 0.58 1.0 99 South Vein
and 130.9 150.65 19.75 0.99 5.9 99 South Vein
including 132.0 133.1 1.1 10.1 50 99 South Vein
25-LCDD-289 10.5 23.05 12.55 0.55 17 95 North Vein
and 56.95 64.0 7.05 2.62 8.8 92 Intermediate Vein
including 56.95 58.9 1.95 8.76 14 92 Intermediate Vein
and 125.0 133.65 8.65 0.15 5.0 84 Intermediate Vein
and 169.3 179.4 10.1 0.82 4.1 82 Intermediate Vein

 

Table 2: Significant Drill Intersections

Drilling Coordinates Table

Hole ID Northing
(NAD27 CONUS
Zone 12N)		 Easting
(NAD27 CONUS
Zone 12N)		 Elevation
(metres)		 Azimuth
(°)		 Inclination
(°)		 Length
(metres)
24-LCDD-265 3185570 542775 389.8 000 -47 113.4
24-LCDD-266 3185676 542725 274.8 180 10 96.05
24-LCDD-267 3185754 543056 438.3 187 -40 69.5
24-LCDD-268 3185555 542750 392.4 000 -45 102.85
24-LCDD-269 3185954 542540 331.2 179 -60 298.3
24-LCDD-270 3185622 542401 206.7 202 -32 75.35
24-LCDD-271 3185633 542396 207.2 220 -31 124.45
24-LCDD-272 3185664 542415 206.5 217 -36 147.7
24-LCDD-273 3185636 542403 205.9 200 -54 114.05
24-LCDD-274 3185816 542788 248.7 000 +2 159.3
25-LCDD-275 3185715 542439 215.5 180 -56 167.0
25-LCDD-276 3185949 542700 315.6 180 -83 225.35
25-LCDD-277 3185853 542315 353.9 180 -56 258.6
25-LCDD-278 3185618 542414 209.0 180 0 55.15
25-LCDD-279 3185683 542515 198.1 180 -20 105.0
25-LCDD-280 3185810 542265 360.0 178 -50 325.7
25-LCDD-281 3185886 542389 346.7 178 -47 149.35
25-LCDD-282 3185786 542515 220.3 180 -85 124.6
25-LCDD-283 3185843 542685 237.6 169 -57 246.35
25-LCDD-284 3185822 542751 244.4 179 -62 191.4
25-LCDD-285 3185839 542715 240.5 173 -61 240.25
25-LCDD-286 3185837 542701 239.5 180 -48 205.05
25-LCDD-287 3185758 542735 251.1 215 -60 150.15
25-LCDD-288 3185817 542726 242.4 180 -58 180.5
25-LCDD-289 3185895 542775 305.9 193 -60 292.25

 

Table 3: Drill Hole Details

Quality Assurance / Quality Control

Core was drilled with PQ, HQ, and NQ tools, and the drill core was sawn in half, with one half submitted for analysis and one half retained as a record. Core samples were shipped to ALS Limited in Hermosillo, Sonora, Mexico, for sample preparation and for analysis at the ALS laboratory in North Vancouver. The Hermosillo and North Vancouver ALS facilities are ISO/IEC 17025 certified. Gold was assayed by a 30-gram fire assay with an atomic absorption spectroscopy finish, and overlimits were analyzed by a 30-gram fire assay with a gravimetric finish.

Control samples comprising certified reference and blank samples were systematically inserted into the sample stream and analyzed as part of the Company’s quality assurance / quality control protocol.

Statement of Qualified Person

Gregg Bush, P.Eng. and Stewart Harris, P.Geo., the Company’s Qualified Persons, as such term is defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, have reviewed the scientific and technical information that forms the basis for this news release and has approved the disclosure herein. Mr. Bush is employed as Chief Operating Officer of the Company, and Mr. Harris is employed as Exploration Manager of the Company.

Technical Report Reference

1 La Colorada Operations, Sonora, Mexico, NI 43-101 Technical Report (the ‘Report’) is dated January 11, 2024, has an effective date of December 4, 2024, and was prepared for Heliostar Metals Inc. by Mr. Todd Wakefield, RM SME, Mr. David Thomas, P.Geo., Mr. Jeffrey Choquette, P.E., Mr. Carl Defilippi, RM SME, and Ms. Dawn Garcia, CPG. The Report can be found under the Company’s profile on SEDAR+ (www.sedarplus.ca) and on Heliostar’s website (www.heliostarmetals.com).

About Heliostar Metals Ltd.
Heliostar is a gold mining company with production from operating mines in Mexico. This includes the La Colorada Mine in Sonora and the San Agustin Mine in Durango. The Company also has a strong portfolio of development projects in Mexico and the USA. These include the Ana Paula project in Guerrero, the Cerro del Gallo project in Guanajuato, the San Antonio project in Baja Sur and the Unga project in Alaska, USA.

FOR ADDITIONAL INFORMATION PLEASE CONTACT:

Charles Funk
President and Chief Executive Officer
Heliostar Metals Limited
Email: charles.funk@heliostarmetals.com
Phone: +1 844-753-0045		 Rob Grey
Investor Relations Manager
Heliostar Metals Limited
Email: rob.grey@heliostarmetals.com
Phone: +1 844-753-0045

 

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

Cautionary Statement Regarding Forward-Looking Information

This news release includes certain ‘Forward-Looking Statements’ within the meaning of the United States Private Securities Litigation Reform Act of 1995 and ‘forward-looking information’ under applicable Canadian securities laws. When used in this news release, the words ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘target’, ‘plan’, ‘forecast’, ‘may’, ‘would’, ‘could’, ‘schedule’ and similar words or expressions, identify forward-looking statements or information. These forward-looking statements or information relate to, among other things, this places the Company in a strong position to achieve our planned production and resource growth goals. Today’s results reflect these growth plans and further cement our confidence in the future of La Colorada. They are expected to positively impact the economics of the mine when we update the La Colorada technical report in mid-2025. Our goal is for the study to support a decision to expand production to 50,000 to 100,000 ounces of gold per year. Additionally, the high grades intersected demonstrate a potential underground future for the mine. We intend to target these deeper zones in more detail after we complete the technical report. The Company anticipates additional drilling results from the current program will be released in Q2, 2025.

Forward-Looking statements and forward-looking information relating to the terms and completion of the Facility, any future mineral production, liquidity, and future exploration plans are based on management’s reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the receipt of necessary approvals, price of metals; no escalation in the severity of public health crises or ongoing military conflicts; costs of exploration and development; the estimated costs of development of exploration projects; and the Company’s ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.

These statements reflect the Company’s respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political, and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or forward-looking information and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: precious metals price volatility; risks associated with the conduct of the Company’s mining activities in foreign jurisdictions; regulatory, consent or permitting delays; risks relating to reliance on the Company’s management team and outside contractors; risks regarding exploration and mining activities; the Company’s inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of public health crises; the economic and financial implications of public health crises, ongoing military conflicts and general economic factors to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company’s interactions with surrounding communities; the Company’s ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption ‘Risk Factors’ in the Company’s public disclosure documents. Readers are cautioned against attributing undue certainty to forward-looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/247879

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1911 Gold Successfully Re-Enters the True North Mine and Receives Manitoba Mineral Development Fund Grant

1911 Gold Corporation (‘ 1911 Gold ‘ or the ‘ Company ‘) (TSXV: AUMB; OTCQB: AUMBF) is pleased to announce that the Company has completed the re-commissioning of the True North mine hoist system in the A Shaft and is now focused on completing all necessary electrical and mechanical work down to Level 16 of the underground mine. Several levels within the True North Mine are now accessible for rehabilitation, including Level 16 at a depth of 695 m below surface, and will be used for our underground drilling to reach key targets identified by the exploration team, including following the SAM Southeast and West targets to depth.

1911 Gold - Logo (CNW Group/1911 Gold Corporation)

Highlights:

  • On March 19, 2025 , the Company received approval from the Mines Safety Unit for Workplace Safety and Health to commence hoist operations at the True North mine.
  • On March 23, 2025 , a maintenance crew completed the A Shaft inspection from surface down to Level 16 ( 695 m ).
  • Level 16 is a key level for the next phase of underground diamond drilling, as it requires minimal investment to provide the best access to multiple underground exploration targets.
  • On March 25 , 2025, Seok Joon Kim, P. Eng., joined the Company to work closely with Éric Vinet on the Company’s redevelopment strategy.
  • On April 2, 2025 , a Hancon Mining Inc. team completed the evaluation of the underground workings on Level 16, identifying areas that required rehabilitation and ventilation improvement to allow underground drilling to commence.
  • An unmanned cage has now reached Level 26 ( 1,145 m ), indicating that the deepest level of the shaft is dry and has no water. This will significantly reduce the anticipated dewatering time and cost of the mine at depth.
  • Overall, conditions in the underground mine were better than anticipated, with communications and electrical equipment quickly brought online in central areas and work well underway to extend this to new target areas.
  • The Company has been   approved for a $286,000 grant from the Manitoba Mineral Development Fund (‘MMDF’) to support the 2025 drill program.

Over the last several months, the Company has worked closely with key contractors to re-commission the hoist system for the A Shaft, providing access to the True North underground mine. This included full inspection and testing of all mechanical, electrical, and shaft infrastructure to ensure safe and effective operation of the hoist. Tests completed included stress testing of the hoist cables, free fall (drop) testing of the conveyances with full anticipated loads, and testing of the software for control systems. Approval from the Mine Safety Administration was received in mid-March, and inspection and repairs to the A Shaft commenced on March 20, 2025 . On March 23, 2025 , the maintenance team gained access to Level 16 and completed a thorough inspection of the electrical connections and communications system.

On April 3, 2025 , a thorough inspection of Level 16 and Level 3 ( 122 m ) (used for the San Antonio West target) was completed to identify rehabilitation work that will be required. Based on this inspection, the Company plans to complete the necessary rehabilitation by late May, including re-aligning the rail tracking, re-establishing electrical and ventilation to key parts of the drift, and reinforcing areas where drill pads are required.

The lack of water on Level 26 ( 1,145 m ), the deepest level of A Shaft, is a positive development and will allow ready access to a significant portion of the current resource. This also expedites the Company’s ability to target new resource expansion areas and commence redevelopment of the deeper portions of the mine.

Previously, on January 15, 2025 , the Company also opened and inspected the Hinge and Cohiba access declines. These declines also provide access to the 007, L-13 and L-10 deposits, key resource expansion areas.

‘This achievement is a critical step forward for 1911 Gold in pursuit of our restart strategy.’ Shaun Heinrichs , President and CEO, stated, ‘With access to Levels 3, 8 ( 340 m ), and 16, we will be able to aggressively pursue our resource growth strategy with an efficient and productive drill program from the underground. We are now closer to some of the best targets in the underground mine and have easy access to both new targets we identified as well as infill and extensions to the 43-101 resource released on November 20, 2024 . This is the next phase for 1911 Gold, and our team is excited about the opportunity this presents.’

On March 25, 2025 , Seok Joon Kim P.Eng ., an experienced underground mine engineer, joined the Company to work closely with Éric Vinet to build an underground mining strategy, support the exploration team, and oversee underground redevelopment activities.

Next Steps

With access to the underground now established, the Company will commence planning work for the rehabilitation of Levels 3, 8, and 16 in the underground to support future planned exploration. This will also facilitate the mine planning work underway, as the Company can inspect underground workings and determine development timelines and costs. Over the coming months, the Company expects to build a plan for future production that will be used to guide the underground drill targeting and assist in prioritizing target areas based on their near-term production potential, as well as define areas of significant resource growth.

Manitoba Mineral Development Fund

The Company is also pleased to report that it has been approved for a $285,636 grant from the Manitoba Mineral Development Fund (‘MMDF’) to support the 2025 drill program at the True North project in Manitoba, Canada .

Proceeds from this grant will go directly to fund the 2025 drill program that commenced in October 2024 , with a projected total of 30,000 meters of drilling within the mine lease area planned. This program continues to advance several new surface targets identified by 1911 Gold, based on the improved geological model developed in conjunction with the extensive work undertaken in 2024 to complete the mineral resource update (see news release dated November 20, 2024 ).

Deferred Share Units

The Company will also issue 125,000 deferred share units (‘DSUs’) to four directors under the LTIP in respect of Q1-2025 director fees. Each DSU entitles the holder to receive one share of the Company, or in certain circumstances a cash payment equal to the value of one share of the Company, at the time the holder ceases to be a director of the Company.

About 1911 Gold Corporation

1911 Gold is a junior explorer that holds a highly prospective, consolidated land package totaling more than 61,647 hectares within and adjacent to the Archean Rice Lake Greenstone belt in Manitoba , and also owns the True North mine and mill complex at Bissett, Manitoba . 1911 Gold believes its land package is a prime exploration opportunity, with the potential to develop a mining district centred on the True North complex. The Company also owns the Apex project near Snow Lake, Manitoba and the Denton-Keefer project near Timmins, Ontario , and intends to focus on organic growth and accretive acquisition opportunities in North America .

1911 Gold’s True North complex and exploration land package are located within the traditional territory of the Hollow Water First Nation, signatory to Treaty No. 5 (1875-76). 1911 Gold looks forward to maintaining open, co-operative and respectful communication with the Hollow Water First Nation, and all local stakeholders, in order to build mutually beneficial working relationships.

ON BEHALF OF THE BOARD OF DIRECTORS

Shaun Heinrichs
President and CEO

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This news release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as ‘plans’, ‘expects’ or ‘does not expect’, ‘is expected’, ‘budget’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’ or ‘does not anticipate’, or ‘believes’, or describes a ‘goal’, or variation of such words and phrases or state that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved.

All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, statements with respect to the terms of the Offering, the use of proceeds of the Offering, the timing and ability of the Company to close the Offering, the timing and ability of the Company to receive necessary regulatory approvals, the tax treatment of the securities issued under the Offering, the timing for the Qualifying Expenditures to be renounced in favour of the subscribers, and the plans, operations and prospects of the Company, are forward-looking statements. Although 1911 Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

All forward-looking statements contained in this news release are given as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.

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

SOURCE 1911 Gold Corporation

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2025/09/c1593.html

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Trump pushes back on ‘rebel’ Republicans over tariffs: ‘You don’t negotiate like I negotiate’

President Donald Trump on Tuesday blasted some Republican members of Congress for trying to limit his presidential powers on instituting tariffs so that Congress could retake control.

Trump delivered a speech to the National Republican Congressional Committee, calling out ‘rebel’ Republicans while speaking about his trade policies.

‘And then I see some rebel Republican, some guy who wants to grandstand, say, ‘I think that Congress should take over negotiations.’ Let me tell you, you don’t negotiate like I negotiate,’ Trump said.

Rep. Don Bacon, R-Neb., is leading a bipartisan bill to block Trump from instituting tariffs and retake that power for Congress. Bacon told reporters earlier on Tuesday that he didn’t like ‘the thought of waging a trade war with the entire world.’ 

In the Senate, a bipartisan group led by Sens. Rand Paul, R-Ky., and Ron Wyden, D-Ore., is also introducing a resolution to repeal Trump’s global tariffs. 

Sens. Chuck Grassley, R-Iowa, and Maria Cantwell, D-Wash., have already introduced a bipartisan bill that would require the president to notify Congress about any new tariffs within 48 hours of imposition and require Congress to approve new tariffs within 60 days or allow them to expire.

Trump chewed out the Republicans over the proposed bills.

‘I just saw it today, a couple of your congressmen,’ Trump said before launching into an impression of a lawmaker. ”Sir, I think we should get involved in the negotiation of the tariffs.’ Oh, that’s what I need, I need some guy telling me how to negotiate.’

Trump said that should Congress take over tariff negotiations, China would be ‘the happiest people in the world.’

‘They wouldn’t be paying 104%,’ Trump said of China. ‘I’d say they’d be paying no percent — we’d be paying them 104%.’

The tariff negotiations will take time, critics warn

Trump said that even the talk around Capitol Hill about limiting his tariff powers ‘hurts your negotiation,’ adding, ‘And then the fake news wants to build it up, and it has no chance anyway.’

‘We have to remain united as I defend workers from unfair trade,’ Trump said.

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Trump budget bill hangs in balance after president urges House GOP rebels to halt mutiny

House Republicans are divided over how to proceed on a massive piece of legislation aimed at advancing President Donald Trump’s agenda as a possible vote on the measure looms Wednesday afternoon.

The House Rules Committee, the final gatekeeper for legislation before a chamber-wide vote, is expected to consider the measure on Wednesday morning beginning at 8:45 a.m. ET.

Fiscal hawks are rebelling against GOP leaders over plans to pass the Senate’s version of a sweeping framework that sets the stage for a Trump policy overhaul on the border, energy, defense and taxes.

Their main concern has been the difference between the Senate and House’s required spending cuts, which conservatives want to offset the cost of the new policies and as an attempt to reduce the national deficit. The Senate’s plan calls for a minimum of $4 billion in cuts, while the House’s floor is much higher at $1.5 trillion.

Trump himself worked to sway critics twice on Tuesday – first with a smaller group of House GOP holdouts at the White House, then in a more public message during House Republicans’ campaign arm’s national fundraising dinner.

‘Close your eyes and get there. It’s a phenomenal bill. Stop grandstanding,’ the president said at the National Republican Congressional Committee (NRCC) event.

But it’s still unclear how many people that swayed.

‘The problem is, I think a lot of people don’t trust the Senate and what their intentions are, and that they’ll mislead the president and that we won’t get done what we need to get done,’ Rep. Rich McCormick, R-Ga., told reporters on Tuesday. ‘I’m a ‘no’ until we figure out how to get enough votes to pass it.’

McCormick said there were as many as 40 GOP lawmakers who were undecided or opposed to the measure.

A meeting with a select group of holdouts at the White House on Tuesday appeared to budge a few people, but many conservatives signaled they were largely unmoved.

‘I wouldn’t put it on the floor,’ Rep. Chip Roy, R-Texas, told reporters after the White House meeting. ‘I’ve got a bill in front of me, and it’s a budget, and that budget, in my opinion, will increase the deficit, and I didn’t come here to do that.’

Senate GOP leaders praised the bill as a victory for Trump’s agenda when it passed the upper chamber in the early hours of Saturday morning.

Trump urged all House Republicans to support it in a Truth Social post on Monday evening.

Meanwhile, House Republican leaders like Speaker Mike Johnson, R-La., have appealed to conservatives by arguing that passing the Senate version does not in any way impede the House from moving ahead with its steeper cuts.

The House passed its framework in late February.

Congressional Republicans are working on a massive piece of legislation that Trump has dubbed ‘one big, beautiful bill’ to advance his agenda on border security, defense, energy and taxes.

Such a measure is largely only possible via the budget reconciliation process. Traditionally used when one party controls all three branches of government, reconciliation lowers the Senate’s threshold for passage of certain fiscal measures from 60 votes to 51. As a result, it has been used to pass broad policy changes in one or two massive pieces of legislation.

Passing frameworks in the House and Senate, which largely only include numbers indicating increases or decreases in funding, allows each chamber’s committees to then craft policy in line with those numbers under their specific jurisdictions. 

Members of the conservative House Freedom Caucus have pushed for Johnson to allow the House GOP to simply begin crafting its bill without passing the Senate version, though both chambers will need to eventually pass identical bills to send to Trump’s desk.

‘Trump wants to reduce the interest rates. Trump wants to lower the deficits. The only way to accomplish those is to reduce spending. And $4 billion is not – that’s … anemic. That is really a joke,’ Rep. Eric Burlison, R-Mo., told reporters.

He said ‘there’s no way’ the legislation would pass the House this week.

The legislation could still get a House-wide vote late on Wednesday if the House Rules Committee advances the bill Wednesday morning.

As for the House speaker, he was optimistic returning from the White House meeting on Tuesday afternoon.

‘Great meeting. The president was very helpful and engaged, and we had a lot of members whose questions were answered,’ Johnson told reporters. ‘I think we’ll be moving forward this week.’

Fox News’ Ryan Schmelz and Aishah Hasnie contributed to this report.

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