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Kingsmen Drills a New Discovery of High Grade Silver and Gold Mineralization (931 g/t Silver Equivalent with 1.28 g/t Gold over 1.60 Meters (156.4-158.0m))

Kingsmen Resources Ltd. (TSXV: KNG,OTC:KNGRF) (OTCQB: KNGRF) (FSE: TUY) (‘Kingsmen’ or the ‘Company’) is pleased to report first assays from hole LC-25-008 that intersected significant new gold rich silver mineralization. This hole was drilled 160 meters from the previously reported high grade silver discovery of 1,028 gt silver equivalent over 1.45 meters (455 gt silver) from 190.25-191.70m including 1,742 gt silver equivalent over 0.70 meters (770 gt silver) from 190.85- 191.55m in hole LC-25-010 (see news release September of 24, 2025). These holes were drilled as part of the recently completed 12 hole 3,227.2 meter drill program on its 100% owned Las Coloradas silver project. The Las Coloradas project is in the Parral mining district of the Central Mexican Silver Belt, Chihuahua Mexico.

Four Key Highlights:

  1. HIGH GRADE SILVER DISCOVERY
    1. * 931 g/t silver equivalent with 1.28 g/t gold over 1.60 meters (521 g/t silver) from 156.4-158.0m.
    2. * Gold rich mineralization.
  2. NEW DISCOVERY – WIDE MINERALIZED ZONE
    1. *200 g/t silver equivalent & 0.28 g/t gold over 10.50 meters (97.4 g/t silver) from 154.5-165.0m.
    2. *New silver-gold target.
    3. * Hole drilled 160 meters from high grade hole LC-25-010.
  3. SHALLOW, NEAR-SURFACE MINERALIZATION
    1. Mineralization starts at approximately 135 meters vertical depth.
    2. *Multiple mineralization styles including massive sulphides.
    3. * Strong pathfinder elements (antimony, indium, bismuth, and tellurium) indicate larger system.
  4. SIGNIFICANT DISCOVERY POTENTIAL
    1. Less than 5% of property explored.
    2. *8.5 km2 consolidated historic mining district.
    3. *Multiple untested structures and veins.
    4. *Located in Mexico’s prolific Parral Silver District.

President, Scott Emerson commented, ‘The gold rich silver mineralization intersected in this hole is an exciting discovery on a previously unknown structure. The mineralized intercepts in this hole and hole LC-25-010 are significantly wider than those historically reported and mined by ASARCO for the Soledad mineralization. This new discovery, potentially adds a 3rd structure in what is a new area and the gold values significantly enhance the value of the mineralization. This mineralization is believed to be similar to that of the old La Prieta mine whose tailings are being reprocessed at GoGold’s, Parral operation. In addition, it opens the potential for additional significant discoveries in, to-date, untested structures which can be mapped at surface.’

Vice President of Exploration, Kieran Downes Ph.D., P.Geo. noted ‘The property continues to deliver exciting and promising results that show the potential for additional, new high-grade discoveries. There are many kilometers of veins/structures, all of which are prospective especially where dilatant zones for mineralization may be created by changes in attitude, splays, lithologic contacts and intersections. The shape of the mineralization may vary from simple vein to chimney to manto. The role of the intrusion intersected at depth, if any, will be evaluated in conjunction with the receipt of assays.’

Cannot view this image? Visit: https://images.newsfilecorp.com/files/9640/276747_0124ba7af4384ae1_005full.jpgHole LC-25-008 was drilled to test two separate targets.

  • Target 1 was the intersection of a NE-trending vein/structure with a flexure/cymoid curve in a NW-trending vein/structure at the margin of a magnetic high (Figures 1 and 2). The flexure is approximately 400 meters long and may have may have created a dilatant zone(s) in Target 1 and beyond. The hole bottomed in intrusive confirming the interpretation of the magnetics. Target 1 returned the significant intersection reported here (Table 1).
  • Target 2 was the intersection of NW-trending and NE-trending structures/vein systems, in an area of high chargeability and resistivity, at the margin of a magnetic high/intrusive (Figure 2). Assays are pending.

Hole LC-25-008 (Table 1; Table 2; Table 3) intersected an alteration zone with massive sulphide mineralization from approximately 154.5 to 165.0 meters (10.50 meters) downhole. The silver rich massive sulphide mineralization comprises sphalerite, galena, arsenopyrite, and pyrite (Figure 3 and 4). The mineralization is strongly anomalous in pathfinder elements antimony, bismuth, indium, arsenic and tellurium (Table 1). Silver values vary with galena-sphalerite content. Significant gold is associated with the high-grade silver mineralization and varies with the arsenopyrite content. Of note is the presence of associated elevated to anomalous tellurium, a significant indicator of gold mineralization. The mineralization exhibits late-stage faulting and brecciation. The hole bottomed in a fine to medium grained feldspar porphyry carrying disseminated pyrite confirming the interpretation of the magnetics.

The mineralized zone has a brecciated section from 155.95 to 157.0 meters composed of translucent quartz veins, white quartz, and masses of sulfides arranged in a stockwork. Sphalerite predominates with pyrite, smaller amounts of galena and arsenopyrite are also present. Arsenopyrite predominates in the quartz veining. From 157.0 to 158.45 m, there is a cavity with clusters of arsenopyrite, pyrite, galena, sphalerite and druses with prismatic quartz and possibly jamesonite crystals. The host rocks are sediments displaying moderate shear deformation, intense green chloritic alteration and silicification.

Table 1 Analyses

Hole From To Width Au ppm Ag ppm As ppm Bi ppm Cu ppm In ppm Pb ppm Sb ppm Te ppm Zn ppm
LC-25-008 143.60 144.40 0.80 0.005 1.2 548 1.5 18.1 0.974 121 17.85 0 2800
LC-25-008 144.40 144.80 0.40 0.005 1.48 499 1.72 13.4 0.93 194 5.45 0 2110
LC-25-008 144.80 145.20 0.40 0.006 1.4 572 1.57 13.4 0.152 175 3.07 0.05 194
LC-25-008 145.20 146.00 0.80 0.005 0.69 183.5 0.81 19.1 0.066 79 2.49 0 93
LC-25-008 146.00 147.00 1.00 0.005 1.44 136 2.48 19.5 0.388 76 1.78 0 921
LC-25-008 147.00 147.40 0.40 0.008 2 589 5.56 18 1.31 92 3.99 0.1 6570
LC-25-008 147.40 148.00 0.60 0 0.58 71.1 1.16 20 0.049 23 1.17 0 105
LC-25-008 148.00 149.00 1.00 0 0.58 88 1.02 24.1 0.056 33 3.33 0 86
LC-25-008 149.00 150.00 1.00 0 0.88 176.5 1.36 22.9 0.087 74 4.03 0 138
LC-25-008 150.00 151.00 1.00 0 0.94 96.3 1.68 28.6 0.069 39 2.19 0 104
LC-25-008 151.00 151.60 0.60 0.005 1.18 144 1.8 23.5 0.111 112 8.1 0 274
LC-25-008 151.60 152.30 0.70 0 0.75 80.7 1.5 30.8 0.07 39 1.86 0 133
LC-25-008 152.30 153.00 0.70 0 0.65 148.5 0.94 20.4 0.154 44 2.56 0 214
LC-25-008 153.00 153.50 0.50 0 0.66 51.9 1.14 21.7 0.033 36 2.18 0 58
LC-25-008 153.50 154.00 0.50 0.007 1.62 425 2 31.4 1.1 154 4.6 0 3210
LC-25-008 154.00 154.50 0.50 0 1.16 244 0.93 21.1 0.135 112 12.65 0 126
LC-25-008 154.50 155.00 0.50 0.007 14.1 446 4.28 23.4 1.77 2490 34 0.26 1895
LC-25-008 155.00 155.50 0.50 0.009 8.91 866 3.45 26.9 1.06 1420 23.4 0.19 1260
LC-25-008 155.50 155.95 0.45 0.015 23.3 2200 14.1 32.6 4.91 3780 87.9 1.09 8090
LC-25-008 155.95 156.20 0.25 0.077 395 >10000 400 141 86.9 61400 296 18.25 123000
LC-25-008 156.20 156.40 0.20 0.051 70 >10000 48.1 39.7 8.51 11500 64.3 2.46 18650
LC-25-008 156.40 156.70 0.30 0.169 968 >10000 771 208 169 154000 2640 20.6 250000
LC-25-008 156.70 157.00 0.30 0.569 568 >10000 359 48.5 21.2 108000 708 11.7 30100
LC-25-008 157.00 158.00 1.00 1.825 373 >10000 525 119.5 59.5 71700 9640 16.7 100500
LC-25-008 158.00 158.45 0.45 1.62 69.1 >10000 227 9 2.44 3050 1085 7.5 3990
LC-25-008 158.45 159.00 0.55 0.047 6.2 >10000 19.65 5.7 0.697 501 134.5 0.24 1320
LC-25-008 159.00 159.55 0.55 0.206 11.9 >10000 61.5 10.4 1.145 1405 672 1.48 3030
LC-25-008 159.55 160.20 0.65 0.007 4.13 252 2 18.6 0.215 60 29.3 0 308
LC-25-008 160.20 160.90 0.70 0.015 2.62 845 2.66 18.6 1.025 104 31.2 0 3040
LC-25-008 160.90 161.50 0.60 0 0.53 85 1.07 22.6 0.059 30 28.8 0 110
LC-25-008 161.50 162.50 1.00 0.011 2.46 342 15.35 26.2 0.531 62 34.1 0 2580
LC-25-008 162.50 163.00 0.50 0.024 1.94 77.2 1.56 18.8 0.178 22 22.4 0 128
LC-25-008 163.00 164.00 1.00 0.013 2.1 1060 2.98 23.6 0.169 32 21 0 441
LC-25-008 164.00 165.00 1.00 0.017 3.27 574 2.59 23.6 0.172 37 33.2 0 91
LC-25-008 165.00 165.50 0.50 0.015 0.99 863 0.84 15.4 0.215 18.8 21.5 0.07 65
LC-25-008 165.50 166.60 1.10 0 0.64 87.7 2.79 20.2 0.028 26.5 12.35 0 63​

True width cannot be determined at this time and reported widths are drilled intervals.

Table 2 Silver equivalents

Hole From To Width(m) Ag Eq ppm Ag ppm Au ppm Pb% Zn%
LC-25-008 154.50 165.00 10.50 200 97.4 0.28 1.66 2.22
incl 155.95 159.55 3.60 496 274 0.81 4.81 6.26
incl 155.50 158.45 2.95 623 355 0.95 5.79 7.61
incl 155.50 158.00 2.50 688 383 0.83 6.78 8.9
incl 156.40 158.00 1.60 931 521 1.28 9.39 11.53​

The silver equivalent calculation formula is AgEq(g/t) = ((Ag grade (g/t) x (Ag price per ounce/31.10348) x Ag recovery) + (Pb grade (%) x (Pb price per tonne/100) x Pb recovery) + (Zn grade (%) x (Zn price per tonne/100) x Zn recovery) + (Au grade (g/t) x (Au price per ounce/31.10348) x Au recovery)) / (Ag price per ounce/31.10348 x Ag recovery). The prices used were US$3675/oz gold, US$2960/t zinc, US$2003/t lead and US$42/oz silver. Recoveries are estimated at 40% for gold, 91% for lead, 85% for zinc and 92% for silver based on published figures by Kootenay Silver Inc. for sulphide mineralization in the Cigarra deposit, Chihuahua, Mexico, a deposit with similar style mineralization (https://kootenaysilver.com/news/kootenay/2024/kootenay-silver-announces-updated-mineral-resource-estimate-for-la-cigarra-project-chihuahua-mexico).

Table 3 Collar and survey table

Hole_ID Easting Northing Elevation Az Dip EOH
LC-25-001 464675 2964907 1630 185 -50 594.00
LC-25-002 464161 2964857 1634 190 -50 201.00
LC-25-003 464161 2964857 1634 190 -70 200.35
LC-25-004 464122 2964879 1634 200 -45 203.45
LC-25-005 464770 2964455 1661 220 -60 248.45
LC-25-006 464804 2964418 1660 220 -60 152.85
LC-25-007 464731 2964485 1662 220 -60 167.60
LC-25-008 464731 2964485 1660 337 -70 506.80
LC-25-009 464669 2964549 1660 220 -75 215.65
LC-25-010 464864 2964572 1651 220 -45 269.45
LC-25-011 464669 2964549 1660 250 -45 315.80
LC-25-012 463522 2964744 1640 45 -45 151.80

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Figure 1

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Figure 2

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Figure 3 Mineralization

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Figure 4 Mineralization (part) – split core

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Holes 5, 6, 7 and 10 tested a 100-meter length of the Soledad system centered on the Soledad shaft. Holes 9 and 11 tested the structure in the area of the Rosario shaft. Holes 2, 3 and 4 tested a 50-meter segment of the Soledad structure/vein system in the DBD target. Hole 12 tested under old workings on the Soledad II structure/vein system. Holes1 and 8 tested a geological/geophysical target. The target was the intersection of NW-trending and NE-trending structures/vein systems, in an area of high chargeability and resistivity on an interpreted NW-trending magnetic structure.

QAQC
The drill core (HQ size) was geologically logged and sampled. The full drill core was sawn with a diamond blade rock saw. One half of the sawn drill core was bagged and tagged for analysis. The remaining half portion was returned to the drill core tray and stored. Bagged samples are securely stored prior to submission for analysis. Samples were submitted to ALS Geochemistry-Chihuahua for multielement analysis following four-acid digestion (code ME-MS61), and gold by fire assay-AA (code Au-AA23). Quality assurance and quality control (QA/QC) is maintained by the systematic insertion of certified standard reference materials (CSRM), blanks and duplicates into the sample stream. Assay results will be announced following receipt, compilation and confirmation. ALS Geochemistry operates under a Global Geochemistry Quality Manual that complies with ISO/IEC 17025:2017.

About Las Coloradas
The Las Coloradas Project (8.5 km2 -3.3 sq miles) represents a consolidation of a historic mining district which covers numerous silver-gold-lead-zinc-copper mines previously exploited by ASARCO (American Smelting and Refining Company), the U.S. based subsidiary of Grupo Mexico.

Las Coloradas is in the Parral mining district of the Central Mexican Silver Belt, and is located approximately 30 kilometers southeast of the city of Hidalgo de Parral and 40 kilometers east of the San Francisco de Oro and Santa Barbara mining districts where several old major mines are located, such as La Prieta, Veta Colorada, Palmilla, Esmeralda, San Francisco del Oro and Santa Barbara. Click here to see locator map: https://www.kingsmenresources.com/area-history

Qualified Person
Kieran Downes, Ph.D., P.Geo., a director of Kingsmen and Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical disclosure set out in this news release.

About Kingsmen Resources
Kingsmen Resources is a mineral exploration company focused on advancing its 100% held projects, the Las Coloradas silver/gold project and Almoloya gold/silver project located in the prolific mining district of Parral Mexico. The projects host historic past producing high-grade silver mines. They are considered to be prospective for hosting further precious metal deposits, being on the same structural and stratigraphic belts that host numerous other, on-trend, high-grade deposits. In addition, the company has a 1% NSR on the La Trini claims which form part of the Los Ricos North project operated by GoGold Resources Inc. in Mexico. Kingsmen is a publicly-traded company (TSXV: KNG,OTC:KNGRF) (OTCQB: KNGRF) (FSE: TUY) and is headquartered in Vancouver, British Columbia.

On behalf of the Board,

Signed: ‘Scott Emerson‘

Scott Emerson, President & CEO
Phone: 6046859316
Email: se@kingsmenresources.com
Follow us on: LinkedIn, Instagram and X

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

Forward-Looking Statements:

Certain disclosure contained in this news release may constitute forward-looking information or forward-looking statements, within the meaning of Canadian securities laws. These statements may relate to this news release and other matters identified in the Company’s public filings. In making the forward-looking statements the Company has applied certain factors and assumptions that are based on the Company’s current beliefs as well as assumptions made by and information currently available to the Company. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. These risks and uncertainties include but are not limited to: the political environment in which the Company operates continuing to support the development and operation of mining projects; the threat associated with outbreaks of viruses and infectious diseases; risks related to negative publicity with respect to the Company or the mining industry in general; planned work programs; permitting; and community relations. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly 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 as required by law.

Corporate Logo

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Rising US-Venezuela Tensions, CPC Shutdown Push Oil Prices Higher

Oil prices climbed higher on Monday (December 1) as an escalation in US-Venezuela tensions reached a fever pitch, offsetting weeks of losses driven by oversupply expectations.

The shift also came after the Caspian Pipeline Consortium (CPC), a key transit route that carries about 1 percent of global oil, halted operations over the weekend. The company reported that a mooring point at its Russian Black Sea terminal was damaged in a Ukrainian drone attack, temporarily curbing exports.

Ukraine has also targeted two oil tankers heading toward Novorossiysk, further rattling market sentiment.

The supply shock landed just as OPEC+ opted to leave production levels unchanged for Q1 2026.

The group had signaled the possibility of a pause as early as November, seeking to avoid exacerbating what analysts feared could become a sizeable glut. The decision provided a modest anchor for traders recalibrating expectations.

“For some time, the narrative has centred on an oil glut, so OPEC+’s decision to maintain its production target provided some relief and helped stabilise expectations for supply growth in the coming months,” Anh Pham, senior analyst at data provider LSEG, explained to Reuters.

Even with Monday’s rise, both Brent and WTI futures settled lower this past Friday (November 28). This marked their fourth straight monthly decline and the longest losing streak since 2023.

Venezuela condemns US “colonialist threat”

A far more dramatic source of volatility also emerged from Washington over the weekend.

On Saturday (November 29), US President Donald Trump declared that “the airspace above and surrounding Venezuela” should be considered closed, posting a warning on social media.

Trump also told service members last week that US forces would “very soon” begin land-based operations targeting Venezuelan drug-trafficking networks. Further, reports surfaced that the White House and Caracas had held a tense, last-ditch phone call aimed at defusing a worsening standoff.

According to sources cited by the Miami Herald, Washington told President Nicolás Maduro he could secure safe passage for himself, his wife Cilia Flores and his son only if he stepped down immediately. The conversation stalled as Venezuela refused to surrender control of its armed forces or agree to Maduro’s resignation.

Washington has been increasingly aggressive toward what it describes as Venezuela’s Cartel de los Soles, which US officials accuse Maduro and senior leaders of operating.

Last month, the Department of State’s decision to designate the cartel a foreign terrorist organization placed Maduro, Diosdado Cabello and Vladimir Padrino López in the same legal category as al-Qaeda and ISIS.

Caracas condemned the aggression, labeling it as a “colonialist threat” seeking support from its allies.

On Sunday (November 30), Maduro issued an appeal to fellow OPEC members, urging the bloc to help counter what he described as “growing and illegal threats” from the United States.

In a letter published by state broadcaster TeleSUR, he accused Washington of trying to “seize” Venezuela’s oil reserves and warned that US military pressure could disrupt the global energy market.

“I hope to count on your best efforts to help stop this aggression, which is growing stronger and seriously threatens the balance of the international energy market, both for producing and consuming countries,” Maduro wrote.

Venezuela exported just US$4.05 billion worth of crude oil in 2023, far below other major producers, due largely to US sanctions imposed during Trump’s first term.

Brent crude stood at US$62.76 per barrel on Tuesday (December 2) morning, while WTI was trading at US$58.93.

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

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Dell family donation to offer 25 million kids $250 to open ‘Trump accounts’

Tech billionaires Michael and Susan Dell announced Tuesday that they are pledging $6.25 billion to create some 25 million additional ‘Trump Accounts’ for children across the country.

These accounts will be seeded with $250 each, and available for children who missed the eligibility cutoff for the $1,000 federally funded ‘Trump Accounts’ for babies born after Jan. 1, 2025.

Children living in ZIP codes with median incomes below $150,000 will be the first to receive the funds, the White House said.

‘The greatest investment that we could possibly make is in children,’ Susan Dell said alongside President Donald Trump at the White House.

‘It’s really an amazing moment that two people would do that kind of a contribution,’ Trump said.

The president said he was also talking to other wealthy donors and friends to potentially make similar contributions.

Michael Dell; President Donald Trump.
Michael Dell; President Donald Trump.Errich Petersen; Chip Somodevilla / Getty Images

Asked how this donation came to be, Michael Dell said: ‘We started talking about Texas only at the beginning. And then we thought about it some more, and we went back and forth, as we do on these things, and this is where we ended up.’

The Dells said they considered making the pledge for a long time. But they said they didn’t want the pledge to be the end of their involvement.

Michael Dell encouraged states to ‘really grow financial literacy’ to help educate families about how the accounts and markets work.

‘These deposits will reach the accounts of most children age 10 and under who were born prior to the qualifying date for the federal newborn contribution,’ the Dells said in a statement issued by their foundation.

‘Children older than 10 may benefit, too, if funds remain available after initial sign-ups,’ the Dell family said. ‘It is an incredibly practical and direct step to help families begin saving today.’

The Dells say they ‘believe this effort will expand opportunity, strengthen communities, and help more children take ownership of their future.’

The Dell family gift “is expected to reach nearly 80% of children age 10 and under across 75% of U.S. zip codes,” according to the nonprofit Invest America.

Children born after Jan. 1 and until Dec. 31, 2028, will receive an account infused with a $1,000 investment from the U.S. Treasury, as part of the recently passed One Big Beautiful Bill.

The accounts will open and begin accepting contributions starting on July 4, 2026. The accounts will initially be held by a financial firm designated by the Treasury Department, but later will be able to be transferred to any brokerage firm.

Those accounts will also be eligible for additional contributions of up to $5,000 per year until the beneficiary child reaches age 18. Withdrawals from the accounts are not permitted until the children reach that age.

Trump accounts can be invested only in low-cost index funds or ETFs that either mirror the S&P 500 or ‘another American stock index,’ according to the White House Council of Economic Advisers.

‘These investment accounts are simple, secure, and structured to grow in value through market returns over time,’ the Dell family said.

‘Trump Accounts represent a potentially valuable tool for building up savings and tapping the power of compound growth for the young,’ Charles Schwab tax planning director Hayden Adams recently wrote.

If a family could contribute and invest the maximum $5,000 per year in the accounts, and with a reasonable growth rate of about 6%, ‘by age 18, the child’s account would hold around $191,000 in assets.’

Once a child turns 18, the accounts are eligible to be converted to a traditional individual retirement account, ‘meaning it could continue to accumulate potential gains on a tax-free basis’ for many years.

The Dells are one of the wealthiest families in America, with a fortune of nearly $150 billion, according to Bloomberg Billionaires. The family’s primary source of wealth is Dell Technologies, the company founded by Michael Dell in 1984.

In recent years, the value of Dell shares have been fueled by the booming AI revolution, for which Dell is a supplier of servers and other technology.

This post appeared first on NBC NEWS
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Prada Group says it has purchased fashion rival Versace in a deal worth nearly $1.4 billion

MILAN — The Prada Group announced Tuesday that it has officially purchased Milan fashion rival Versace in a 1.25 billion euro (nearly $1.4 billion) deal that puts the fashion house known for its sexy silhouettes under the same roof as Prada’s “ugly chic” aesthetic and Miu Miu’s youth-driven appeal.

The highly anticipated deal is expected to relaunch Versace’s fortunes, after middling post-pandemic performance as part of the U.S. luxury group Capri Holdings.

Prada said in a one-line statement that the acquisition had been completed after receiving all regulatory clearances.

Prada heir Lorenzo Bertelli will steer Versace’s next phase as executive chairman, in addition to his roles as group marketing director and sustainability chief.

The son of co-creative director Miuccia Prada and longtime Prada Group chairman Patrizio Bertelli has said he doesn’t expect to make any swift executive changes at Versace. But Bertelli has said that the company, which places among the top 10 most recognized brands in the world, has long been underperforming in the market.

Prada has underlined that the 47-year-old Versace brand offered “significant untapped growth potential.’’

Versace has been in the midst of a creative relaunch under a new designer, Dario Vitale, who previewed his first collection during Milan Fashion Week in September. He had previously been head of design at Miu Miu, but his move to Versace was unrelated to the Prada deal, executives have said.

Capri Holdings, which owns Michael Kors and Jimmy Choo, paid $2 billion for Versace in 2018, but had been struggling to position Versace’s bold profile in the recent era of “quiet luxury.″

Versace represented 20% of Capri Holdings 2024 revenue of 5.2 billion euros. An analyst presentation for the Prada deal said that Versace would represent 13% of the Prada Group’s pro-forma revenues, with Miu Miu coming in at 22% and Prada at 64%. The Prada Group, which also includes Church’s footwear, reported a 17% boost in revenues to 5.4 billion euros last year.

The Prada Group has already begun preparations to incorporate crosstown rival Versace into its Italian manufacturing system, a point of pride for the group.

“Making a bag for one brand or another, the know-how is the same,″ Bertelli told reporters last week at the group’s Scandicci leather goods factory, which already makes bags for the Prada and Miu Miu brands and will soon add Versace.

The Prada Group’s has invested 60 million euros in its supply chain this year, including a new leather goods factory near Siena, a new knitwear factory near Perugia as well as increasing production at its factory Church’s footwear factory in Britain and expanding another Tuscan factory. That’s on top of 200 million euros in investments from 2019-24.

Prada’s efforts include an academy that has trained some 570 new artisans over the last 25 years in an in-house training academy operating in the Tuscany, Marche, Veneto and Umbria regions.

Last year, Prada hired 70% of the 120 artisans who trained in the academy. The number of trainees rose by 28% to 152 this year.

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Shopify says a daylong Cyber Monday outage has been resolved

Outages on Shopify’s e-commerce platform have been resolved, the company said late Monday, bringing to an end a daylong glitch on the annual ‘Cyber Monday’ shopping day.

Some merchants that use Shopify’s service to sell goods online said they experienced issues with checkouts through the company’s point-of-sale system.

Businesses that run on Shopify also had trouble logging into their administrative portals.

In a statement, Shopify said: ‘We had a system degradation that has now been mitigated.’

Throughout the day, business owners posted angry messages directed at the company on X, where Shopify President Harvey Finkelstein had posted ‘HAPPY CYBER MONDAY! Let’s finish strong!’ earlier in the day, with an emoji of a flexed arm.

One business, Costack Spices, based in London, replied: ‘How??? [We] cannot fulfill orders or log on,’ with three red-faced emojis. In a follow-up, the company posted, ‘This is unbelievable.’

Another user wrote, ‘@ShopifySupport I haven’t been able to access it for the last couple hours.’

Shopify replied to most users on X with the same message: ‘We are aware of an issue with Admins impacting selected stores, and are working to resolve it.’

In 2024, merchants using Shopify services recorded $11.5 billion in sales from Black Friday through Cyber Monday, the company said, with more than 76 million customers buying from businesses powered by the platform.

Shopify provides website design tools, online checkout services and digital advertising products to businesses of all sizes. The company says that millions of merchants use its services.

While Shopify’s share of Cyber Monday sales may be limited, smaller businesses that rely on the company to process their transactions may have missed out on crucial sales at the start of the all-important holiday season.

Total Cyber Monday sales are expected to be more than $53 billion, according to Salesforce.

Shopify stock ended the trading day down 5.9%.

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IG finds Hegseth’s use of Signal for Houthi strike planning risked harm to US mission and pilots, sources say

Secretary of War Pete Hegseth ‘created risks to operational security’ by sharing sensitive details about Houthi strikes over Signal, a new Pentagon inspector general report determined, according to sources familiar with the report. 

His actions ‘could have resulted in failed US mission objectives and potential harm to US pilots,’ one source familiar with the report said. 

Fox News has reached out to the Pentagon for comment. 

A classified version of the report has been handed over to the Senate Armed Services Committee and is available for members of the committee to view. An unclassified, redacted version will be made public on Thursday. 

Trump administration officials used Signal to discuss sensitive military strikes against the Houthis in Yemen in March. Then-national security advisor Mike Waltz had created the chat, which included many of Trump’s top Cabinet members, and inadvertently added Jeffrey Goldberg, editor-in-chief of the Atlantic.

The IG launched a probe in April following requests from top lawmakers on Capitol Hill. It was intended to examine whether Secretary Pete Hegseth improperly discussed operational plans for a U.S. offensive against the Houthis in Yemen and will also review ‘compliance with classification and records retention requirements,’ according to a memo from Inspector General Steven Stebbins.

Hegseth’s Signal messages revealed F-18, Navy fighter aircraft, MQ-9s, drones and Tomahawks cruise missiles would be used in the strike on the Houthis.

‘1215et: F-18s LAUNCH (1st strike package),’ Hegseth said in one message notifying the chat of high-level administration officials that the attack was about to kick off.

‘1345: ‘Trigger Based’ F-18 1st Strike Window Starts (Target Terrorist is @ his Known Location so SHOULD BE ON TIME – also, Strike Drones Launch (MQ-9s),’ he added, according to the report.

‘1410: More F-18s LAUNCH (2nd strike package)’

‘1415: Strike Drones on Target (THIS IS WHEN THE FIRST BOMBS WILL DEFINITELY DROP, pending earlier ‘Trigger Based’ targets)’

‘1536 F-18 2nd Strike Starts – also, first sea-based Tomahawks launched.’

‘MORE TO FOLLOW (per timeline)’

‘We are currently clean on OPSEC’ — that is, operational security.

Waltz later wrote that the mission had been successful. ‘The first target — their top missile guy — was positively ID’d walking into his girlfriend’s building. It’s now collapsed.’

Trump administration officials have insisted that nothing classified was shared over the chat. The report should offer clarity on that claim.

Thursday will be a contentious day for the Pentagon — Adm. Frank M. Bradley, commander of Special Operations Command, will also be on Capitol Hill to offer his account of the Sept. 2 ‘double tap’ strike on alleged narco-traffickers. 

After one strike on a boat carrying 11 people and allegedly carting drugs toward the U.S. left two survivors clinging to the wreckage, Bradley ordered another to take out the remaining smugglers.

Lawmakers and legal analysts have claimed that killing shipwrecked survivors is a war crime. Bradley is briefing leaders on the House and Senate Armed Services Committees. 

Original reporting by the Washington Post claimed that direction came from the top: Hegseth had directed the commander to ‘kill them all.’ But Hegseth claimed he issued no such directive and did not witness the second strike. He said Bradley made the decision on his own, but he stands by it. U.S. officials who spoke with the New York Times said Hegseth did not order the second strike.

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Epstein island compound seen in new photos released by House Dems

Democrats from the House Committee on Oversight and Government Reform announced Wednesday that they have ‘received never-before-seen photos and videos of Jeffrey Epstein’s private island that are a harrowing look behind Epstein’s closed doors.’

‘See for yourself. We won’t stop fighting until we end this cover-up and deliver justice for the survivors,’ Oversight Dems wrote on X.

‘This production is in response to an Oversight Committee request to the U.S. Virgin Islands Department of Justice for additional information to aid in the ongoing Committee investigation into Jeffrey Epstein’s crimes,’ it added in a statement. ‘The Committee also received records from J.P. Morgan and Deutsche Bank. Oversight Democrats intend to release files to the public after review in the days ahead.’

President Donald Trump announced in November that he signed legislation green-lighting the Justice Department to release files related to the late financier and convicted sex offender Jeffrey Epstein. The photos and video released by the House Oversight Dems purportedly show various rooms inside buildings on Little Saint James island in the U.S. Virgin Islands, as well as other locations on the island.

The Epstein Files Transparency Act specifically directs the Justice Department to release all unclassified records and investigative materials related to Epstein and Ghislane Maxwell, as well as files related to individuals who were referenced in Epstein previous legal cases, details surrounding trafficking allegations, internal DOJ communications as they relate to Epstein and any details surrounding the investigation into his death.

Files that include victims’ names, child sex abuse materials, classified materials or other materials that could threaten an active investigation may be withheld or redacted by the DOJ.

‘These new images are a disturbing look into the world of Jeffrey Epstein and his island. We are releasing these photos and videos to ensure public transparency in our investigation and to help piece together the full picture of Epstein’s horrific crimes. We won’t stop fighting until we deliver justice for the survivors. It’s time for President Trump to release all the files, now,’ House Committee on Oversight and Government Reform Ranking Member Robert Garcia, D-Calif., said Wednesday in a statement.

Fox News Digital has reached out to the White House for comment.

‘On November 18, 2025, the Committee on Oversight and Government Reform sent a request to the U.S. Virgin Islands Attorney General for documents, communications, and information pertaining to investigations or potential criminal investigations of Jeffrey Epstein or Ghislaine Maxwell,’ the Committee said.

‘We will continue to release documents and files as we receive them. The survivors deserve justice and the truth. We need the Department of Justice to release all the files, NOW,’ Garcia added in a post on X.

Fox News Digital’s Diana Stancy and Emma Colton contributed to this report.

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Pentagon probe into secret Signal chats on Houthi strikes set to drop Thursday as Hegseth faces scrutiny

The Defense Department inspector general report analyzing the use of messaging app Signal to share classified information, particularly in planning for Houthi strikes in March, will be released on Thursday. 

A classified version of the report has been handed over to the Senate Armed Services Committee and an unclassified, redacted version will be made public, a source familiar with the process told Fox News Digital after Axios first reported it. 

Trump administration officials used Signal to discuss sensitive military strikes against the Houthis in Yemen in March. Then-national security advisor Mike Waltz had created the chat, which included many of Trump’s top Cabinet members, and inadvertently added Jeffrey Goldberg, editor-in-chief of the Atlantic.

The IG launched a probe in April following requests from top lawmakers on the hill. It was intended to examine whether Hegseth improperly discussed operational plans for a U.S. offensive against the Houthis in Yemen and will also review ‘compliance with classification and records retention requirements,’ according to a memo from Inspector General Steven Stebbins.

Hegseth’s Signal messages revealed F-18, Navy fighter aircraft, MQ-9s, drones and Tomahawks cruise missiles would be used in the strike on the Houthis.

‘1215et: F-18s LAUNCH (1st strike package),’ Hegseth said in one message notifying the chat of high-level administration officials that the attack was about to kick off.

‘1345: ‘Trigger Based’ F-18 1st Strike Window Starts (Target Terrorist is @ his Known Location so SHOULD BE ON TIME – also, Strike Drones Launch (MQ-9s)’ he added, according to the report.

‘1410: More F-18s LAUNCH (2nd strike package)’

‘1415: Strike Drones on Target (THIS IS WHEN THE FIRST BOMBS WILL DEFINITELY DROP, pending earlier ‘Trigger Based’ targets)’

‘1536 F-18 2nd Strike Starts – also, first sea-based Tomahawks launched.’

‘MORE TO FOLLOW (per timeline)’

‘We are currently clean on OPSEC’ — that is, operational security.

Waltz later wrote that the mission had been successful. ‘The first target — their top missile guy — was positively ID’d walking into his girlfriend’s building. It’s now collapsed.’

Trump administration officials have insisted that nothing classified was shared over the chat. The report should offer clarity on that claim.

Thursday will be a contentious day for the Pentagon — Admiral Mitch Bradley, commander of Special Operations Command, will also be on Capitol Hill to offer his account of the Sept. 2 ‘double tap’ strike on alleged narco-traffickers. 

After one strike on a boat carrying 11 people and allegedly carting drugs toward the U.S. left two survivors clinging to the wreckage, Bradley ordered another to take out the remaining smugglers.

Lawmakers and legal analysts have claimed that killing shipwrecked survivors is a war crime. Bradley is briefing leaders on the House and Senate Armed Services Committees. 

Original reporting by the Washington Post claimed that direction came from the top: Secretary of War Pete Hegseth had directed the commander to ‘kill them all.’ But Hegseth claimed he issued no such directive and did not witness the second strike. He said Bradley made the decision on his own, but he stands by it. U.S. officials who spoke with the New York Times said Hegseth did not order the second strike.

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Trump admin targets anti-Christian violence with new visa crackdown policy following Nigeria attacks

The Trump administration is rolling out a new visa-restriction policy in response to a wave of brutal anti-Christian attacks in Nigeria, targeting those accused of orchestrating religious violence against Christians in the West African nation and around the world.

Secretary of State Marco Rubio announced Wednesday that a new policy in the Immigration and Nationality Act will allow the State Department to deny visas to those ‘who have directed, authorized, significantly supported, participated in, or carried out violations of religious freedom.’ Immediate family members may also face visa restrictions in some cases.

‘The United States is taking decisive action in response to the mass killings and violence against Christians by radical Islamic terrorists, Fulani ethnic militias, and other violent actors in Nigeria and beyond,’ Rubio said in the statement.

The move follows a surge of attacks on Christians and Christian institutions in Nigeria. Last month, gunmen stormed the Christ Apostolic Church in Eruku, Kwara State, killing two people and kidnapping dozens. The 38 abducted worshipers were freed nearly a week later.

Days later, armed attackers raided St. Mary’s School in Niger State, abducting more than 300 students and staff. School officials said 50 students aged 10 to 18 escaped in the following days, but 253 students and 12 teachers remain captive.

The violence prompted President Donald Trump to designate Nigeria a ‘country of particular concern,’ though the Nigerian government disputes the U.S. assessment.

‘I’m really angry about it,’ the president told Fox News Radio last month. ‘What’s happening in Nigeria is a disgrace.’

Rubio said the new visa restrictions will apply to Nigeria and to any other governments or individuals involved in violating religious freedom.

Echoing Trump’s warning, Rubio said: ‘As President Trump made clear, the ‘United States cannot stand by while such atrocities are happening in Nigeria, and numerous other countries.’’

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Jack Smith subpoenaed for deposition with House Judiciary Committee

House Judiciary Committee Chairman Jim Jordan, R-Ohio, subpoenaed former special counsel Jack Smith on Wednesday for a deposition, escalating Republicans’ investigation into one of President Donald Trump’s top political foes.

Jordan directed Smith to appear before the committee on Dec. 17, according to a copy of the subpoena reviewed by Fox News Digital.

‘Due to your service as Special Counsel, the Committee believes that you possess information that is vital to its oversight of this matter,’ Jordan wrote in a letter accompanying his request.

The forthcoming deposition, which is set to take place behind closed doors, comes as House and Senate Republicans have zeroed in on Smith’s election-related investigation of Trump, describing it as a scandal that unnecessarily swept up hundreds of Republican lawmakers, GOP entities, Trump allies and media outlets as part of the probe.

Smith has repeatedly stood by his work as special counsel, which eventually involved bringing two sets of criminal charges against Trump over the 2020 election and over alleged retention of classified documents. Smith dropped both cases after Trump won the 2024 election, citing a Department of Justice policy that discourages prosecuting sitting presidents.

Smith has already offered to publicly testify before the House and Senate Judiciary Committees, but a source familiar with Jordan’s request said a deposition is the chairman’s preferred format because each party on the committee can question Smith for an hour at a time and build a better record. In a public hearing, lawmakers typically question a witness in five-minute intervals.

Peter Koski, an attorney for Smith, responded to the subpoena in a statement provided to Fox News Digital and reiterated that Smith offered six weeks ago to appear voluntarily in a public hearing setting.

‘We are disappointed that offer was rejected, and that the American people will be denied the opportunity to hear directly from Jack on these topics,’ Koski said. ‘Jack looks forward to meeting with the committee later this month to discuss his work and clarify the various misconceptions about his investigation.’

Jordan’s subpoena also included a sweeping demand for all documents and communications related to Smith’s time as special counsel, a request that comes after the DOJ told Smith’s lawyers in a letter on Nov. 12, reviewed by Fox News Digital, that it would make a ‘unique’ accommodation to Congress by authorizing Smith to ‘provide unrestricted testimony to the Committee, irrespective of potential privilege.’

Fox News Digital reached out to committee Democrats for comment.

This is a developing story. Check back for updates.

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