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ACG Amends Terms of Gediktepe Royalty Agreement to Support Transition from Gold to Copper Production

ACG announces that the net smelter return royalty agreement dated 17 July 2019 (the ‘Royalty Agreement‘) originally entered into between Lidya Madencilik Sanayi ve Ticaret A.Ş. (which assigned its interest to ACG Holdco 1 Limited), Polimetal Madencilik Sanayi ve Ticaret A.Ş. (‘Polimetal‘) and Alacer Gold Madencilik A.Ş (which assigned its interest to EMX Royalty Corporation (‘EMX‘)) in respect of production at the Gediktepe mine was amended and restated (the ‘Amended Royalty Agreement‘) on 30 September 2025. The amendment is the result of a consensual agreement with EMX on terms that are mutually beneficial to all parties.

Under the terms of the Amended Royalty Agreement and related documents:

  • With effect from 1 January 2026, the terms of the oxide and sulphide royalties have been simplified, with the oxide royalty percentage being decreased from 10% to 2.25% and the sulphide royalty percentage being increased from 2% to 2.25% on all sulphide production.
  • Each of ACG and Polimetal has been released from its obligations to make certain milestone payments (the ‘Milestone Payments‘) linked to the commencement of sulphide commercial production at the Gediktepe mine (in an aggregate amount of US$ 6 million) to EMX in 2026.

The adjustment to the royalty terms will provide substantial benefits to the group as it forges ahead with the transition from oxide to sulphide production at the Gediktepe mine. In particular:

  • The amendments to the Royalty Agreement should result in a significant reduction in all in sustaining costs (AISC) on the remaining oxide ore produced at the Gediktepe mine from 2026.
  • The reduction in the high oxide royalty percentage and release of the obligation to make the Milestone Payments should considerably strengthen the group’s short term cash flows and enable it to increase its cash buffer in 2026 while the Gediktepe mine transition is completed.
  • The royalty percentage applicable to any future oxide production following a potential LOM extension at Gediktepe will decrease from 10% to 2.25%.

Patrick Henze, Chief Financial Officer of ACG said:

‘We are very pleased to have completed the process of amending our royalty arrangements with EMX and believe that the amended royalty terms leave us well positioned to navigate the transition from oxide to sulphide production in the near term. We are thankful to EMX for its constructive and collaborative approach during this process and look forward to continuing our mutually beneficial partnership.’

Inside information

The information contained within this announcement is considered by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No.596/2014 (as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018). On the publication of this announcement via a Regulatory Information Service, such information is now considered to be in the public domain.

Forward looking statements

This announcement may contain certain ‘forward-looking information’ and ‘forward-looking statements’ (collectively, ‘forward-looking statements‘). Forward-looking statements are identified by their use of terms and phrases such as ‘believe’, ‘targets’, ‘expects’, ‘aim’, ‘anticipate’, ‘project’, ‘would’, ‘could’, ‘envisage’, ‘estimate’, ‘intend’, ‘may’, ‘plan’, ‘will’ or the negative of those, variations or comparable expressions, including references to assumptions. The forward-looking statements in this announcement are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results, performance and achievements to differ materially from any results, performance or achievements expressed or implied by such forward-looking statements. Factors that may cause actual results to differ materially from those expressed or implied by such forward looking statements. These forward-looking statements are based on numerous assumptions regarding the present and future business strategies of the Group and the environment in which it is and will operate in the future. All subsequent oral or written forward-looking statements attributed to the Company or any persons acting on its behalf are expressly qualified in their entirety by the cautionary statement above. Each forward-looking statement speaks only as of the date of this announcement. Except as required by applicable law, regulatory requirement, the UK Listing Rules and the Disclosure Guidance and Transparency Rules, neither the Company nor any other party intends to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

The person responsible for the release of this information on behalf of the Company is Artem Volynets, Chief Executive Officer.

For further information please contact:

Palatine

Communications Advisor

Conal Walsh / James Gilheany/ Kelsey Traynor/ Richard Seed

acg@palatine-media.com

Berenberg

Research Analysts

William Dalby +44 (0) 20 3753 3243

Richard Hatch +44 (0) 20 3753 3070

Cody Hayden +44 (0) 20 3753 3133

Joint Broker

Jennifer Lee / Natasha Ninkov

+44 (0) 20 3207 7800

Canaccord

Research Analysts

Tim Huff +44 (0) 20 7523 8374

Joint Broker

James Asensio / Charlie Hammond

+ 44 (0) 20 7523 80

About the Company

ACG Metals is a company with a vision to consolidate the copper industry through a series of roll-up acquisitions, with best-in-class ESG and carbon footprint characteristics.

In September 2024, ACG successfully completed the acquisition of the Gediktepe Mine which is expected to transition to primary copper and zinc production from 2026 and will target annual steady-state copper equivalent production of 20-25 kt. Gediktepe produced 55koz of AuEq in 2024.

ACG’s team has extensive M&A experience built through decades spent at blue-chip multinationals in the sector. The team brings a significant network as well as a commitment to ESG principles and strong corporate governance.

For more information about ACG, please visit: www.acgmetals.com

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Blackstone Minerals Investment Mankayan Project Update

Bezant (AIM: BZT), the copper-gold exploration and development company, has today filed a Form 605 – Notice of ceasing to be a substantial holder with ASX listed Blackstone Minerals Ltd (‘Blackstone‘). Bezant’s shareholding of Blackstone shares is now 80,574,880 Blackstone shares. Since the Company’s announcement on 17 September the Company has in the period 18 September to 1 October 2025 sold 53,425,120 Blackstone shares at an average price of AUD 7.021 cents ( approximately 3.45 pence) per share for gross proceeds of AUD 3.75M (approximately £1.84M).

Attached is a copy of the Form 605.

For further information, please contact:

Bezant Resources Plc

Colin Bird Executive Chairman

+44 (0) 20 3416 3695

Beaumont Cornish (Nominated Adviser)
Roland Cornish / Asia Szusciak


+44 (0) 20 7628 3396

Novum Securities Limited (Joint Broker)

Jon Belliss

+44 (0) 20 7399 9400

Shard Capital Partners LLP (Joint Broker)

Damon Heath

+44 (0) 20 7186 9952

or visit http://www.bezantresources.com

Beaumont Cornish Limited (‘Beaumont Cornish’) is the Company’s Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish’s responsibilities as the Company’s Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.

A close-up of a document AI-generated content may be incorrect.A paper with text on it AI-generated content may be incorrect.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

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Valeura Ranked No. 1 of Canada’s Top Growing Companies

Valeura Energy Inc. (TSX:VLE, OTCQX:VLERF) (‘Valeura’ or the ‘Company’) has been ranked No. 1 on the Report on Business magazine’s 2025 ranking of Canada’s Top Growing Companies, as published on September 26, 2025.

Valeura achieved the top position among 400 candidate companies across all sectors, based on three-year revenue growth. The Company’s revenue increased from US$3 million in 2021 to US$689 million in 2024, representing a 20,064% increase. This recognition follows the Company’s No. 8 ranking in 2024, reflecting sustained momentum in value creation and operational execution.

Dr. Sean Guest, President and CEO commented:

‘We are honoured to receive this exceptional recognition from the Report on Business magazine. Achieving the No. 1 position among 400 companies across all industries validates our disciplined approach to creating value through growth.

Since launching our growth strategy in 2020, our team has demonstrated top tier operational and financial performance. At the same time, we have remained highly discerning in selecting which opportunities to pursue. Our revenue growth of 20,064% over three years underscores the fact that our strategy is working.

As we continue to actively pursue organic and inorganic opportunities to create value for all stakeholders, I extend my sincere gratitude to the many individuals who have supported our journey.’

About the Ranking

The Report on Business magazine is published by The Globe And Mail, widely regarded as Canada’s foremost news media company. Their annual editorial ranking of Canada’s Top Growing Companies measures businesses on three-year revenue growth. The complete 2025 ranking is listed here.

About the Company

Valeura is a Canadian public company engaged in the exploration, development and production of petroleum and natural gas in Thailand and in Türkiye. The Company is pursuing a growth-oriented strategy and intends to re-invest into its producing asset portfolio and to deploy resources toward further organic and inorganic growth in Southeast Asia. Valeura aspires toward value accretive growth for stakeholders while adhering to high standards of environmental, social and governance responsibility.

Additional information relating to Valeura is also available on SEDAR+ at www.sedarplus.ca.

For further information, please contact:

Valeura Energy Inc. (General Corporate Enquiries)
+65 6373 6940
Sean Guest, President and CEO
Yacine Ben-Meriem, CFO
Contact@valeuraenergy.com

Valeura Energy Inc. (Investor and Media Enquiries)
+1 403 975 6752 / +44 7392 940495
Robin James Martin, Vice President, Communications and Investor Relations
IR@valeuraenergy.com

This news release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction, including where such offer would be unlawful. This news release is not for distribution or release, directly or indirectly, in or into the United States, Ireland, the Republic of South Africa or Japan or any other jurisdiction in which its publication or distribution would be unlawful.

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

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Trump must triple severely outdated nuke arsenal to outpace China and Russia, report warns

A new report warns the U.S. nuclear arsenal is dangerously outdated and too small to confront growing global threats — and recommends nearly tripling the number of deployed American warheads by 2050.

The report, first obtained by Fox News Digital, argues that America’s current force of about 1,750 deployed nuclear weapons leaves the nation vulnerable in an era when Moscow, Beijing, and Pyongyang are all expanding their arsenals at breakneck speed.

China alone is building 100 new nuclear weapons a year, according to the Pentagon, and is on track to reach strategic parity with the U.S. by the mid-2030s.

‘The newest warhead that we have was built in 1989,’ Robert Peters, author of the Heritage report, told Fox News Digital.

‘The force size that we have now … That was a force design that came up when President Obama was in office in 2010, and the assumptions were in 2010 that there would be no more real competition between the United States and Russia, and China was not even a real player on the nuclear field.’

The report, authored by Robert Peters of Heritage’s Allison Center for National Security, proposes that Washington expand its force to roughly 4,625 operationally deployed nuclear weapons by 2050.

That number would include about 3,500 strategic warheads — carried by intercontinental ballistic missiles (ICBMs), ballistic missile submarines, and bombers — and about 1,125 non-strategic weapons, such as gravity bombs and theater-range missiles.

It comes amid warnings that Moscow maintains thousands of non-strategic nuclear weapons in Europe, outnumbering U.S. stocks by as much as ten to one, while China races to deploy stealth bombers, submarine-based missiles and even orbital strike systems. North Korea already possesses about 90 warheads and continues testing missiles that can reach the U.S. homeland.

‘We’ve got an arsenal today that is decades beyond its planned life cycle, and a force construct that was designed for a very benign world.’

Peters’ proposal envisions a modernized force including new Sentinel ICBMs, Columbia-class ballistic missile submarines, nuclear-capable B-21 stealth bombers, long-range cruise missiles and theater-range hypersonic weapons. The plan would still keep U.S. forces below Cold War levels but significantly above today’s posture.

It lays out a plan for regional nuclear allocations in each theater, with the largest number of assets, 3,200 warheads, being placed under Northern Command and focused on homeland defense. Some 750 warheads would be placed in Europe and 675 in the Indo-Pacific region.

It calls for Sentinel ICBMs to replace Minuteman III and B-21 and B-52 jets with new long-range standoff cruise missiles.

During the Cold War, the U.S. fielded tens of thousands of warheads, deployed in Europe, Asia and at home. The new 2050 arsenal would still be far smaller than Cold War levels.

‘A U.S. President with some regional nuclear options but only token damage-limiting capacity would quickly be confronted during a limited nuclear conflict with two unpalatable options: surrender or threaten widespread attacks on the adversary homeland, thus inviting an in-kind response, meaning suicide,’ the report warns.

Skeptics often ask why nations need thousands of nuclear weapons when a single warhead can level a city. Peters argues that this is a misconception rooted in Cold War imagery of mushroom clouds over Manhattan.

In reality, most modern nuclear warheads are not designed for ‘city busting’ but for striking enemy nuclear forces — silos, missile fields, and command-and-control centers. China, for example, is building up to 500 hardened ICBM silos in remote deserts. Military planners assume it could take at least two U.S. warheads to guarantee destruction of each site.

As Peters puts it, ‘the goal is never to get to this point. That’s why you have nuclear weapons, to make sure you never get to this point.’

It’s unclear whether the current political leadership would heed Peters’ recommendations. President Donald Trump has proposed ‘denuclearization’ talks with U.S. adversaries.

‘Trump very understandably doesn’t like nuclear weapons,’ Peters said.

But, he added, ‘we tried [denuclearizing] under President Obama in 2009 and 2012 and no one followed.’

‘Tremendous amounts of money are being spent on nuclear, and the destructive capacity is something we don’t even want to talk about today, because you don’t want to hear it,’ Trump mused in remarks to the World Economic Forum at Davos, Switzerland, in February.

‘I want to see if we can denuclearize, and I think it’s very possible,’ suggesting talks on the issue between the U.S., Russia and China.

President Vladimir Putin announced Russia would suspend its participation in the New START treaty in 2023 over U.S. support for Ukraine. Russia had frequently been caught violating the terms of the deal. But China has never engaged in negotiations with the U.S. over arms reduction.

North Korea has rejected any suggestion of denuclearizing from the U.S.

Read the report below. App users: Click here

In September, Russia proposed a one-year extension of the New START treaty, which technically expires in 2026, but the White House has yet to respond to that proposal.

Expanding the arsenal won’t be cheap. But at around $56 billion, the U.S. only spends around seven percent of the defense budget on nuclear weapons, Peters argues.

The report also calls for nuclear capabilities to be deployed forward to Finland and Poland, a proposal that is certain to rattle the Kremlin and would cut strike times down from hours to minutes.

Nuclear weapons are currently hosted in Italy, Germany and the Netherlands — bases chosen in the Cold War when they sat just 150 miles from the Soviet front line. But Russia’s front line has now moved 800 miles east.

He made a similar call for nuclear capabilities to be placed in South Korea. Washington periodically deploys U.S. nuclear-armed submarines to South Korea and involves Seoul in its nuclear planning operations in exchange for an agreement from Seoul not to develop its own nuclear weapons.

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‘Real consequences’: Food aid, flood insurance, FEMA funds in jeopardy amid shutdown, Johnson says

House Speaker Mike Johnson, R-La., is warning that everyday Americans could be at risk in a prolonged government shutdown.

The top House Republican sat down for an exclusive interview with Fox News Digital on Wednesday, the first day of the ongoing government shutdown.

Asked how long he thought it would continue, Johnson said he was praying for a short ordeal.

‘My expectation is that I don’t know how it could go longer than a week or so, because so many people have been so adversely affected by this,’ Johnson said.

He pointed to two programs that he was concerned about in particular: The Special Supplemental Nutrition Program for Women, Infants, and Children (WIC) and the Federal Emergency Management Agency (FEMA).

‘[Democrats are] talking about healthcare. Not only did their counter-proposal say they wanted to cut the rural hospital fund and do all these other things, but what’s happening right now in the shutdown is that the WIC program is now unfunded — women, infants and children nutrition. That’s not a small thing,’ Johnson said.

WIC provides free nutrition support to low-income pregnant women, new mothers, infants and children under age 5.

On a call with House Republicans held Wednesday, Office of Management and Budget (OMB) Director Russ Vought warned that WIC could run out of funding within days without a federal funding deal, Fox News Digital was previously told.

FEMA, however, is expected to continue operations through a government shutdown, as it has in the past. But its funding source, the Disaster Relief Fund, relies on a budget that’s allocated by Congress on an annual basis.

A failure to replenish the Disaster Relief Fund could make it more difficult for FEMA to respond in the event of a natural disaster.

The National Flood Insurance Program (NFIP) is also in danger of lapsing, which could leave millions of Americans without financial help if a hurricane or other disaster hits, Johnson pointed out.

‘You have FEMA — I mean, I’m from a hurricane state. We’re in the middle of hurricane season. I’ve got two of them off the coast of the U.S. right now,’ Johnson, whose district is anchored in Shreveport, La., said.

‘If your flood insurance lapses right now, they’re shut down. Or if you go buy a new house, and you have to have flood insurance, none of that can be processed right now because they just shut the government down. I mean, this is real.’

He also expressed concern for the military members in his district who will have to work without getting paid until the shutdown is over.

‘The troops are working without pay … I have a big veterans community and active duty service member community because I have two major military installations in my district, Louisiana’s 4th Congressional [District],’ Johnson said. 

‘I think a lot about these young airmen and soldiers who are deployed right now for their country, and they left behind young wives who are pregnant and have small children. They’re not going to get a paycheck until [Senate Minority Leader Chuck Schumer, D-N.Y.] comes to his senses.’

The House passed a measure to keep the current federal spending levels roughly flat through Nov. 21 to give Congress more time to reach a longer-term deal for fiscal year (FY) 2026. That bill, called a continuing resolution (CR), advanced mostly along party lines.

But in the Senate, where at least several Democrats are needed to reach the 60-vote threshold to overcome a filibuster, progress has stalled. 

Senate Democrats are demanding concessions on healthcare, including an extension of COVID-19 pandemic-era Obamacare subsidies that are set to expire at the end of this year.

But Republicans have contended that their plan should remain free of any partisan policy riders.

The Senate is likely to hold another vote on the measure, its fourth in total, on Friday.

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White House says federal layoffs could hit ‘thousands’ ahead of Trump, Vought meeting

The federal government may have to lay off ‘thousands’ of employees if the government shutdown continues, White House press secretary Karoline Leavitt warned Thursday.

Leavitt made the comments during a gaggle with reporters outside the White House, saying administration officials are already gaming out the layoffs.

‘Look, it’s likely going to be in the thousands. It’s a very good question. And that’s something that the Office of Management and Budget and the entire team at the White House here, again, is unfortunately having to work on today,’ Leavitt said.

‘These discussions and these conversations, these meetings would not be happening if the Democrats had voted to keep the government open,’ she added.

Leavitt went on to accuse Democrats of playing politics with the shutdown, arguing there is ‘zero good reason’ for Democrats to obstruct the process.

‘They are doing it for political reasons. They are doing it because they want to give taxpayer-funded health care benefits to illegal aliens, which is something that American people resoundingly rejected ahead of the election last year,’ she said.

President Donald Trump announced earlier Thursday that he is set to meet with Office of Management and Budget (OMB) Director Russell Vought later Thursday to discuss which agencies ‘are a political SCAM.’

Vought is tasked with recommending which agencies should face cuts and whether those cuts should be temporary or permanent.

‘I can’t believe the Radical Left Democrats gave me this unprecedented opportunity,’ Trump wrote on social media. ‘They are not stupid people, so maybe this is their way of wanting to, quietly and quickly, MAKE AMERICA GREAT AGAIN!’

The federal government entered a partial shutdown Wednesday after the midnight funding deadline passed, with Democrats and Republicans failing to agree on a funding bill.

Vice President JD Vance on Wednesday accused Democrats of forcing the shutdown over providing illegal immigrants with taxpayer-funded emergency healthcare and Senate Minority Leader Chuck Schumer, D-N.Y., fearing a primary challenge from progressive ‘Squad’ member Rep. Alexandria Ocasio-Cortez, D-N.Y.

Fox News’ Stephen Sorace contributed to this report

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Johnson shuts door on negotiating shutdown deal as Democrats dig in on Obamacare

House Speaker Mike Johnson, R-La., made clear on Thursday that House Republicans will not budge amid the ongoing standoff over government funding, as Democrats continue to insist on healthcare concessions.

‘Don’t ask the Republicans what we should be doing or what we should be negotiating. I don’t have anything to negotiate. I sent them, in good faith, exactly what they voted for before,’ Johnson told reporters during a press conference.

‘We did not put any Republican provisions in that, and we tried to make this very simple, in good faith, so the appropriations process of the people can continue.’

The government shutdown has entered into a second day as Democrats and Republicans remain at odds over how to proceed with federal funding past the end of fiscal year (FY) 2025, which concluded Sept. 30.

The House passed a measure to keep the current federal spending levels roughly flat through Nov. 21 to give Congress more time to reach a longer-term deal for FY 2026. That bill, called a continuing resolution (CR), advanced mostly along party lines.

But in the Senate, where at least several Democrats are needed to reach the 60-vote threshold to overcome a filibuster, progress has stalled. 

Democrats there have rejected the GOP plan three times, most recently on Wednesday afternoon.

House and Senate Democrats have insisted they will not vote for any funding deal that does not also extend enhanced subsidies in Obamacare, formally called the Affordable Care Act, which were hiked during the COVID-19 pandemic.

Those enhanced subsidies are set to expire at the end of this year without congressional action.

‘People say, ‘Why aren’t you negotiating with [Senate Minority Leader Chuck Schumer, D-N.Y., and House Minority Leader Hakeem Jeffries, D-N.Y.]?’ Because I quite literally have nothing to negotiate. There’s nothing I can pull out of the bill that was a Republican priority to say, ‘Oh, we won’t do that. Why don’t you guys vote for it now?’ I don’t have anything,’ Johnson said.

‘I didn’t put anything in it to send it over. I’m stunned. I’m stunned that they have decided to shut the government down and hurt people. It is on them 100%.’

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Walker Lane Resources

Investment Insight

Walker Lane Resources (TSXV:WLR) is positioned as a high-upside, low-overhead explorer focused on unlocking value in North America’s most exciting mineral belts. With a clean and tightly held capital structure, a strategic rebrand, and one of the most qualified technical-financial teams in the junior mining space, WLR offers investors:

  • Exceptional value, leverage potential that could result from a high-grade discovery
  • A diversified exploration portfolio that supports year-round exploration and will result in active news flow
  • Multiple Tier 1 analogs across flagship projects

In a market hungry for discovery stories and premium-grade assets, WLR stands out for its strategic discipline, operational tempo, and potential to generate significant value from early-stage exploration success.

Overview

Walker Lane Resources (TSXV:WLR), formerly known as CMC Metals, is a North American exploration company strategically focused on discovering and monetizing high-grade, scalable gold, silver and polymetallic deposits. With a recently consolidated and tightly held capital structure, the company is designed for efficiency, leverage to discovery, and maximized investor value.

Walker Lane Resources holds a diversified and complementary portfolio of early-stage to early- advanced stage exploration projects across two of the most prolific mining regions in North America: the Walker Lane Trend in Nevada, USA, and the mineral-rich terrains of British Columbia and the Yukon. By aligning its exploration schedule with seasonal conditions—working in Nevada during the fall, winter, and spring, and in northern Canada during the summer—WLR can maintain continuous, year-round exploration and news flow.

At the core of WLR’s strategy is a disciplined capital approach emphasizing putting “money onto the ground” and a well-defined and value-generating vision: to uncover high-value mineral assets and position them for monetization or strategic acquisition, rather than long-term development.

Graph depicting the Walker Lane Resources

Walker Lane Resources is advancing along the mining growth cycle, moving from pre-discovery into the discovery phase where value creation accelerates. The company’s strategy is clear: build high-grade, advanced-stage assets that generate steady news flow, minimize dilution, and maximize shareholder value.

Recent steps include selling its Bishop, CA gold facility, securing a $6M option deal with Coeur Mining on its Silverknife Property in BC (with potential for another $3M), and plans to evaluate small-scale mining with sorting technology and a First Nations partnership at its Silver Hart Project in Yukon to generate medium-term cash flow.

As shown on the Lassonde Curve, WLR is positioned at the inflection point where discovery drives rapid value growth — setting the stage for short-term gains and long-term opportunity.

Vision and Strategy

Walker Lane Resources’ vision is to become a leading exploration company recognized for generating high-quality discoveries in top-tier jurisdictions. By focusing on projects with historical high-grade mineralization, underexplored potential, and favorable geological settings, the company seeks to create value through the drill bit and position its assets for acquisition or joint venture.

WLR’s strategy avoids costly development pipelines and instead leans into its core strengths: geoscience excellence, operational agility, capital discipline, and leveraging its advisory network for project advancement and strategic exposure.

Company Highlights

  • Strategic Jurisdictions: Focused on Nevada’s Walker Lane Trend—one of the most active and lucrative exploration corridors in the United States.
  • Year-Round Exploration – Year-Round Project Work and News Flow: Seasonal dual-hemisphere operations provide constant catalysts, supporting sustained market engagement.
  • Tight Share Structure: Post-consolidation structure ensures every dollar works harder for shareholders.
  • Tier-1 Assets in Canada and USA: Two cornerstone properties with scalable, high-grade mineral potential (Tule Canyon – NV; Amy – B.C.), drilling planned for both projects in 2025, each with compelling surface results, historical workings, significant geological databases, and high-impact resource potential.
  • Pipeline Assets in Canada and USA: Cambridge (NV) to be advanced to a drill decision by early 2026 and exploration efforts to be conducted at Silver Mountain-NV and Logjam – Yukon to advance them towards an eventual drill decision.
  • Experienced Technical and Financial Team: Geologists, drill company operators, and financiers with a track record of exploration success and capital markets access.
  • Clear Focus – Shareholders First: WLR is led by career explorers focused on discovery, value creation, and strategic exit or partnership opportunities.
u200bView of former Dark Secret Mine at Walker Lane Resources

Former Dark Secret Mine – Tule Canyon Property

Project Portfolio Overview

Walker Lane Resources operates seven key projects:

  1. Tule Canyon, Nevada (Gold-Silver)
  2. Amy, British Columbia (Silver-Lead-Zinc)
  3. Cambridge, Nevada (Gold)
  4. Silverknife, British Columbia (Silver-Lead-Zinc)
  5. Silver Hart, Yukon (Silver-Lead-Zinc)
  6. Silver Mountain, Nevada (Silver-Copper)
  7. Logjam, Yukon (Gold-Silver-Lead-Zinc)

These assets represent a mix of CRD-style and epithermal systems, each with historic mineralization, multiple mineralized zones, and district-scale exploration upside. Combined, they provide year-round operational capacity and a steady flow of exploration results.

Flagship Projects

Tule Canyon (Nevada)

Located in the heart of Nevada’s Walker Lane Trend—one of the hottest exploration corridors in the United States—Tule Canyon is a high-potential gold-silver mesothermal or orogenic target. The area contains extensive old workings, two former mines (Eastside and Dark Secret) developed to shallow depths, numerous high-grade surface samples in five identified zones, and has seen no modern drilling.

Highlights:
  • Drill ready – geophysical targets defined under former mines and mineral showings
  • Past production both placer and hard rock
  • Mesothermal high grade gold and silver mineralization coincident with positive alteration and geophysical signatures over a 5km structural corridor
  • Widespread gold and silver mineralization with surface grabs up to 31.8 g/t gold and 4,320 g/t silver and chip samples 40 meters @0.469 g/t gold

Tule Canyon exemplifies Walker Lane Resources’ focus on high-grade opportunities in Tier 1 jurisdictions. The project’s location offers good infrastructure, year-round exploration potential, proximity to major producing mines and toll mills, and a supportive permitting regime

u200bView of the Former Eastside Mine at Walker Lane Resources

Former Eastside Mine – Tule Canyon Property

Amy (British Columbia)

The Amy project is a silver-lead-zinc carbonate replacement deposit (CRD) system in northern BC, in the same mineral district and in close proximity to Coeur Mining’s Silvertip Mine – one of the world’s highest-grade underground silver-lead-zinc-critical mineral deposits.

Historical drilling, two adits, and extensive surface work has identified high-grade silver-lead-zinc-antimony mineralization over a projected strike length of 2.7 kilometers in over 20 known veins at the Amy Prospect. Additional areas of prospectivity are also yet to be explored with modern exploration methods. The property geology is highly prospective for a high grade CRD discovery(ies).

Highlights:
  • Drill program planned to test historic and newly interpreted targets
    Proximal to Silvertip, one of the highest-grade silver-polymetallic-critical mineral mines globally, located within an extensive mineral district with the potential to host additional CRD deposits that typically form in clusters
  • A considerable database of geological, geochemical and geophysical data that is being used to identify guide future exploration efforts
  • Historical grades* and recent surface sampling results comparable to Silvertip Mine grades
  • The high-grade nature of this potential deposit is demonstrated from historical sampling of the east drift in the 4450 adit that produced 19.08 oz/t silver, 0.64% lead and 7.78 percent zinc along a strike length of 35 feet in a vein with a width of 5 feet*.

* Note these historic results have not been verified by Walker Lane Resources Ltd. or its Qualified Person and therefore should not be relied upon


Adit at 4200 level at Walker Lane Resources

Adit at 4200 level – Amy Prospect

u200bSamples from Walker Lane Resources

Samples from Amy

Amy is not just a satellite play—it’s a serious contender in a prolific CRD belt. Its potential for discovery and monetization is amplified by its strategic location, very high-grade potential, road accessibility, and growing interest from major miner Coeur Mining Inc. who are a potential ready buyer as they have negotiated a right of first refusal for the property with Walker Lane Resources.

Pipeline Projects

Cambridge (Nevada)

Cambridge is a historically mined, mesothermal high-grade gold project that features visible, museum-class gold mineralization. The gold mineralization occurs in veins within shears and is associated with copper, lead, antimony and other sulfides. The project is underexplored, despite extensive old workings and documented historic production.

Highlights:
  • Grab sampling on the property collected 68 samples of which 20 (29 percent) of the samples assayed greater than 5 g/t gold indicating potential for widespread average to high grade mineralization
  • Recent geophysical work (total magnetic and radiometric surveys) identified magnetic trends coincident with known bedrock gold mineralization
  • Geochemical soil surveys identified numerous gold-in-soil anomalies
  • Limited modern exploration, providing strong first-mover advantage
  • Favorable location within the Walker Lane Trend

Cambridge offers compelling blue-sky potential. It reinforces WLR’s Nevada strategy and is a prime candidate for detailed mapping, trenching, old mine dump recoveries, and is a near term candidate for possible future drilling.

Former Cambridge Mine and gold samples, Walker Lane Gold Trend, Nevada

Former Cambridge Mine and gold samples, Walker Lane Gold Trend, Nevada

Silver Mountain (Nevada)

Silver Mountain comprises of two claim areas close to Tule Canyon, that contain vein-hosted high-grade mesothermal to deep epithermal silver targets. The property has been subjected to historical small-scale mining and chip samples have produced 0.6 meters of 1,415 g/t silver and 0.48 percent copper.

Walker Lane Resources

Silver Hart (Yukon)

Silver Hart features high-grade surface CRD-style mineralization in the northern part of the Rancheria Silver District that is host to the Silvertip Mine Deposit. Plans are to evaluate known open-pittable deposits for small scale seasonal mining utilizing ore sorting technologies to transport upgraded ore concentrates to a mill for processing.

Logjam (Yukon)

Logjam is a high-grade gold-silver-polymetallic epithermal target that is road accessible. It consists of numerous high-grade epithermal gold veins with significant silver and base metal content occur over a large areal width. It has two former adits where significant intercepts of mineralization have been reported but are not yet verified.

u200bVein vaults interpretation at Walker Lane Resources

Logjam Project, south-central Yukon.

Silverknife (British Columbia)

Located immediately adjacent to the Silvertip Mine, Silverknife is a high-grade silver-lead-zinc target with known mineralization and geophysical anomalies. The property has been optioned to Coeur Mining Inc. who are the operator of the property and who are required to incur approximately $6 million in expenditures and payments by 2027 to earn a 75 percent interest in the property and additional expenditures and/or payments up to $3 million to earn the remaining 25 percent interest. Walker Lane Resources retains a net smelter royalty right of 1 percent on the property.

In 2025, Walker Lane Resources launched a fully funded drill campaign at its Silverknife Property through Coeur Silvertip Holdings, a subsidiary of Coeur Mining. This initial program will test the potential western extension of known geology and mineralization in the Silverknife Central Zone, with five holes totaling 1,200 meters.

Year-Round Exploration and News Flow

One of Walker Lane Resources’ key advantages is its ability to maintain year-round exploration. By operating in Nevada during the fall, winter, and spring, and shifting to BC and Yukon during the summer, the company maximizes news flow, maintains operational momentum, and improves capital efficiency.

This continuous cycle of exploration activity supports investor engagement and facilitates data-driven decision-making across the portfolio.

u200bView of the Silver Bowl Adit at Walker Lane Resources

Silver Bowl Adit – Silver Mountain Property

Management and Advisory Team

Walker Lane Resources is led by a deeply experienced team whose backgrounds are directly aligned with the company’s exploration-focused mandate.

Kevin Brewer – CEO and Director

Kevin Brewer is a veteran geologist and mining executive with over 25 years of experience in mineral exploration, project development, and corporate leadership. He holds multiple degrees in geology and business and has led exploration and evaluation programs for gold, silver, base metals, and critical minerals across North America. Kevin is known for his deep technical expertise, strategic capital management, and his experience in advancing exploration projects from the grassroots stage through to preliminary feasibility assessment. He is a “hands-on” leader and the driving force behind Walker Lane’s vision for focused, cost-effective exploration and disciplined project development.

John Land – Chairman

John Land’s career in the resource sector has spanned more than 30 years. He has led numerous resource companies, specializing in business development, corporate strategy and finance. His recent activities include being the founder of Flamingo Drilling and managing a family trust.

Douglas Coleman – Director and Corporate Secretary

Douglas Coleman is president and founder of Mexico Mining Center and Discoveries Conference and a geologist for 40 years with considerable experience with exploration management and mineral deposits in Mexico and southern United States. Previously operated a mineral consultancy firm with drilling and logistical services and has worked with numerous exploration companies.

Jose Manuel Delgado Canedo – Director and Chief Financial Officer

Jose Manuel Delgado Canedo is a lawyer and chartered accountant specializing in providing services to the mining sector in Mexico.

Cesar Symonds – Project Geologist

Cesar Symonds has a Bachelors in Geology from the Universidad de Sonora. He has 15 years of experience with a variety of mineral exploration and mining companies including Compania Minera Condor, First Majestic Silver, Sonoro Metals, and CMC Metals. Symonds is a specialist in epithermal, porphyry and carbonate replacement deposits.

Debra Olafson – Paralegal

Debra Olafson has over 30 years of paralegal experience and assisting mining companies deal with regulatory and corporate filings, and transactions.

This integrated technical-financial team model enables the company to move quickly from concept to drill with strong oversight, minimal overhead, and a laser focus on discovery.

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NextSource Materials Announces Positive Results of Technical & Economic Study for Proposed Battery Anode Facility in the UAE and Secures Industrial Site with Building in Abu Dhabi

NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) (‘NextSource’ or the ‘Company’) is pleased to announce positive results of a technical and economic study (the ‘Study’) on the construction of a proposed 30,000 tpa capacity battery anode facility (‘BAF’) located in the United Arab Emirates (‘UAE’). The Company further announces it has signed an agreement (the ‘Agreement’) to secure an industrial building in the Industrial City of Abu Dhabi (‘ICAD’) and has launched a strategic partner process to consider expressions of interest it has received for funding the UAE BAF.

Technical and Economic Study Highlights

  • Compelling phased-project economics with total capital costs of US$291 million, including sunk costs and working capital of US$7 million, with post-tax NPV8% of US$442 million and an IRR of 24%
  • The facility will be developed in two phases, with Phase 1 capital cost of US$150 million delivering AAM production of 14,000 tpa, more than satisfying Mitsubishi Chemical’s intial volume requirements of 9,000 tpa
  • Average annual forecasted revenues of US$195 million and annual EBITDA of US$76 million, at full production
  • Initial production planned for Q4 2026 with full production rate achieved in early 2028
  • Strategic partner process launched: discussions underway with offtake partners and several global debt and equity investors
  • Opportunities identified to further enhance the economics with debt funding and/or joint venture partnership

Property Agreement Highlights

  • Agreement signed to secure site and existing building in Abu Dhabi, UAE with easy access to process materials, markets, port and logisitcs infrastructure and major international shipping routes
  • Allows rapid installation of anode manufacturing equipment, and accelerated delivery of first anode product to Mitsubishi Chemical in 2026
  • Offers significant options to expand AAM production capacity to supply additional customers, who are currently engaged in advanced negotiations to secure anode material

This annoucement is a key milestone in the Company’s strategy to achieve full vertical integration by 2027.

The construction of a proposed BAF in the UAE would position NextSource to become the largest anode producer outside of Asia and is part of its global expansion strategy to construct BAFs in key geographic locations, each with modular production capacities, that can be expanded in lockstep with automotive manufacturer (‘OEM’) demand.

Stantec, a global engineering service provider and partner firm with NextSource, has completed a preliminary design and produced both a capital and operating cost estimate in line with AACEi guidelines as part of the Study to develop a UAE BAF.

The Study is based on a specific site and existing building that the Company has signed an agreement to secure in the ICAD, a major industrial free zone consisting of an existing, high-quality heavy industrial building requiring minimal modification with a significant land parcel that provides sufficient space to accommodate a 30,000 tpa capacity BAF.

The site and existing building arein an expedited permit zone, where an Environmental Impact Study and Assessment is not required to begin construction, and strategically situated along major international shipping routes and supported by extensive and world-class infrastructure, including local deep-water ports, industrial parks, and commercial free zones. It is immediately adjacent to a wide range of industries, including petrochemicals, refining, manufacturing, and logistics, offering easy access to raw materials, markets, and transportation networks, making the facility an attractive location for the Company to service domestic and international customers.

Hanré Rossouw, President and CEO commented,

‘Securing our facility in the UAE is a pivotal step in expediting NextSource’s downstream strategy under our offtake agreement with Mitsubishi Chemical Group, and the site’s readiness allows for rapid project execution. The results of our BAF Study confirms our unique position to deliver high-performance graphite anode material at scale, with compelling economics and a clear path to scalable commercial production. This milestone validates our global expansion strategy and reinforces our commitment to supporting the electric vehicle supply chain with vertically integrated, ESG-compliant solutions. We are excited to move forward with our strategic partners and have launched a process with debt and equity investors to unlock the full value of our proprietary technology and feedstock advantage.’

Partnership with Japan’s Mitsubishi Chemical Corporation

As announced on August 5, 2025, NextSource executed a binding, multi-year offtake agreement with Mitsubishi Chemical Corporation (‘Mitsubishi’) for the supply of approximately 9,000 tonnes per annum of AAM to the North American electric vehicle (‘EV’) market. The Company is the sole supplier of AAM to Mitsubishi and today’s announcement strongly supports the ability to satisfy the offtake agreement and other potential offtakes.

UAE BAF

The UAE BAF will be capable of producing natural graphite AAM for lithium-ion batteries used in EV applications, and serve as a secure, transparent, and fully traceable source of supply for battery and OEM customers, entirely decoupled from existing Chinese supply chains, and a critical alternative for US Government-compliant supply chains. Approximately 35% of the weight of a lithium-ion battery comprises of the anode and at least 95% of the anode is made from graphite, making it the most critical raw material of all battery metals (Benchmark Mineral Intelligence, July 2025).

The Company and Stantec have worked in conjunction with NextSource’s technology partners to develop a UAE-compliant plant design, using proven process technology to reduce qualification times. The Study included an assessment of the process design and equipment, an application of relevant design standards and codes, an analysis of future operational requirements, and an environmental permitting analysis. The facility will be installed in an existing building located in the ICAD and will leverage proven and established anode process technologies currently supplying intermediate anode active material to major OEMs.

Study Results

The proposed production capacity of 30,000 tpa, comprising 10,000 tpa of PFG, 16,000 tpa of SPG, and 4,000 tpa of coated SPG (‘CSPG’), accommodates the expected growth of Mitsubishi’s volume requirements beyond the initial 9,000 tpa and the expectation that the Company will secure additional volume capacities with other OEM offtakes. The facility will be developed in two phases, with the initial phase (Phase 1) targeting an annual production capacity of 14,000 tpa of AAM, comprising 10,000 tpa of purified flake graphite (‘PFG’) and 4,000 tpa of spherical purified graphite (‘SPG’).

Total capital costs are US$291 million, inclusive of US$13 million of sunk costs and working capital of US$7 million, with Phase 1 estimated to cost an initial US$150.2M.

The following presents the economic results of the UAE BAF with a proposed production capacity of 30,000 tpa.

  • Assumes Project is financed with 100% equity.
  • CAPEX includes process equipment, ancillary civil & infrastructure, electrical and utilities, project and construction services, and contingency of $31.5 million.
  • Working capital for first 6 months of operation and raw materials inventory.
  • As measured from start of operation and assumes no inflationary adjustments in sales price or operating costs .
  • Average over the life of the operation and excludes royalties, taxes, depreciation, and amortization .
  • Based on projected contract pricing and Benchmark Minerals Intelligence (BMI) forecast data for flake graphite from Q2 2025. Excludes sales of graphite fines and other by-products.

Note: Unless otherwise noted, all monetary figures presented throughout this press release are expressed in US dollars (USD). Capital cost estimates were prepared by Stantec Inc. to a confidence level of [+/- 25%] and are preliminary in nature. These results should not be relied upon for investment decisions. The BAF Study is not a technical report for the purposes of National Instrument 43-101 but rather is a technical study relating to the design, construction, and operation of the UAE BAF.

Next Steps

The next steps for the Company are to conclude legal documentation and approvals for the land and building acquisition, which will enable the transport of BAF processing equipment to the UAE. In parallel, the Company will finalize the front-end engineering and design in preparation for project execution.

Informed by the outcomes of this Study, the final investment decision and financing options will be considered to advance the project into execution. As part of the strategic partner process, the Company is in active discussions with offtake partners and several debt and equity investors globally that have expressed interest in funding the construction of the UAE BAF.

After obtaining the required funding and concluding operating permits, the Company will procure the remaining plant equipment, after which the Project will move into the installation phase and finally into commissioning, which is targeted towards the end of 2026. The process will also include engagement with KEZAD, the government organization in charge of ICAD, and other regulatory authorities to finalise permitting and approvals required for installation and production.

Stantec has prepared a preliminary site layout and conceptual designs for the Project, integrating the provided vendor equipment designs, partner recommendations, and site constraints. These designs will be further developed and adapted in the future detailed engineering and design phase to incorporate site-specific details. NextSource will engage with regional contractors to provide location-specific operational requirements, legal and regulatory requirements, technical criteria, operational specifications, equipment selection, and mitigation of environmental impacts. Regional contractors will also complete civil and non-process critical design elements.

The project will leverage proven process technologies and benefit from strategic partnerships with leading industry players. NextSource is committed to operating the facility in compliance with international standards and UAE regulations, ensuring the highest levels of safety, environmental sustainability, and social responsibility.

Investor Conference Call

Chief Executive Officer Hanré Rossouw, Chief Financial Officer Jaco Crouse and Chief Commercial Officer Craig Scherba will host a conference call at 9:00am EST on October 6th, 2025, to comment on the latest annual financials and MD&A.

To join the webcast, participants should access the following link:

https://www.webcaster5.com/Webcast/Page/3080/53051

To dial in by phone:
Toll Free: 888-506-0062
International: 973-528-0011
Participant Access Code: 362480

A recording of the call will also be available on NextSource’s website within a 48-hour period.

About Stantec

Stantec is headquartered in Edmonton, AB, Canada and is a publicly traded engineering and design consultancy. With over 30,000 employees in 450 offices and across 6 continents, Stantec delivers sustainable and innovative design solutions for their customers. For more information visit www.stantec.com .

About NextSource Materials Inc.

NextSource Materials Inc. is a battery materials company based in Toronto, Canada that is intent on becoming a vertically integrated global supplier of battery materials through the mining and value-added processing of graphite and other minerals.

The Company’s Molo graphite project in Madagascar is one of the largest known and highest-quality graphite resources globally, and the only one with SuperFlake® graphite. The Molo mine has begun production through Phase 1 mine operations.

The Company is also developing a significant downstream graphite value-add business through the staged rollout of Battery Anode Facilities capable of large-scale production of coated, spheronized and purified graphite for direct delivery to battery and automotive customers, in a fully transparent and traceable manner. The Company is now in the process of developing its first BAF in the UAE.

NextSource Materials is listed on the Toronto Stock Exchange under the symbol ‘NEXT’ and on the OTCQB under the symbol ‘NSRCF’.

For further information about NextSource Materials, please visit our website at www.nextsourcematerials.com or contact us at +1.416.364.4911 or email Brent Nykoliation, Executive Vice President at brent@nextsourcematerials.com ,

Safe Harbour: This press release contains statements that may constitute ‘forward-looking information’ or ‘forward-looking statements’ within the meaning of applicable Canadian and United States securities legislation. Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward looking statements and information are frequently characterized by words such as ‘plan’, ‘expect’, ‘project’, ‘intend’, ‘believe’, ‘anticipate’, ‘estimate’, ‘potential’, ‘possible’ and other similar words, or statements that certain events or conditions ‘may’, ‘will’, ‘could’, ‘expected’ or ‘should’ occur. Forward-looking statements include any statements regarding, among others, timing of construction and completion of the BAF and proposed timing of future locations of additional BAFs, timing and completion of front-end engineering and design and ESIA permitting, the economic results of the BAF Technical Study including capital costs estimates, operating costs estimates, payback, NPV, IRR, production, sales pricing and working capital estimates, the construction and potential expansion of the BAFs, expansion plans, as well as the Company’s intent on becoming a fully integrated global supplier of critical battery and technology materials. These statements are based on current expectations, estimates and assumptions that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by the Company and described in the forward-looking statements contained in this press release. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do so, what benefits the Company will derive there from. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether because of new information, future events or otherwise, except as may be required by applicable securities laws. Although the forward-looking statements contained in this news release are based on what management believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with them. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.

Source

Click here to connect with NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) to receive an Investor Presentation

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Stellar AfricaGold Inc Intersects Multiple Wide High-Grade Gold Zones including 13 meters of 6.12 g/t Au in First Drill Hole at Tichka Est; Drill Program Continues.

(TheNewswire)

Stellar AfricaGold Inc.

Vancouver, British Columbia TheNewswire – October 2, 2025 – Stellar AfricaGold Inc. (TSX-V: SPX) (‘Stellar’ or the ‘Company’) is pleased to report significant assay results from its first drill hole at the Tichka Est G old P roject, part of the ongoing 1,500-meters summer diamond drill program at the Zone B gold discovery, an area of approximately one square kilometer within Stellar’s 82km 2 permit area in Morocco.

Highlights

  • First Drill Hole TCK-001 intersected13 meters of 6.12 g/t Au including 2 meters of 22.28 g/t Au , and
    • 16 meters of 1.98 g/t Au including 1 meter of 11.55 g/t Au
    • Mineralisation is mainly hosted in sub-horizontal diorite sills , confirming continuity of favorable lithology.
  • A total of 492.8 meters of diamond core drilled to date across three holes in Zone B. One drill rig currently operating, with drilling progress averaging approximately 10.5 meters of diamond core per day.

(Composite interval s include 0.1g/t Au cut-off & maximum internal dilution of 3m.)

Figure 1. High grade (22.28 g/t Au) mineralized section of Diorite sill 2

Table 1: Assay Highlights

Hole ID

Length (m)

Azimuth (°)

Dip (°)

From (m)

To (m)

Interval Length (m)

Gold (g/t)

TCK-001

201.9

65

-45

83

93

99

94

16

including 1

1.98

11.55

125

125

138

127

13

including 2

6.12

22.28

(Note : The down hole intersections are not a true thickness. The true thickness is not known.)


Click Image To View Full Size

Figure 2. A cross section of TCK-001 highlighting the two zones of gold mineralization

hosted within sub-horizontal diorite sills .


Click Image To View Full Size

Figure 3. A plan section showing location of TCK-001 drill hole (top of image) relative to the surface mechanical trenches and the previous RC drill campaign (center and lower of image).

Detail of Results

Diamond drill hole TCK-001 was designed to test the interpreted mineralized sub-horizontal diorite sills, which act as both lithological and structural controls to gold mineralization.

Two well-defined mineralized zones were intersected:

  • Within Diorite 1 between 83–99 meters: 16 m of 1.98 g/t Au , including 1 m of 11.55 g/t Au
  • Within Diorite 2 between 125–138 meters: 13 m of 6.12 g/t Au , including 2 m of 22.28 g/t Au
  • Within Diorite 3 the mineralization encountered in previous surface trenching of the third diorite zone was not encountered in drill hole TCK-001 consistent with the absence of veining or fracturing in the core.

These intersections support the geological model developed for Tichka Est Zone B and provide strong encouragement for expansion of the drilling program.

Operations Update

Diamond d rilling has now totaled 492.8 meters across three holes , with core from holes TCK-002 and TCK-003 confirming the presence of the sulphide-bearing sub-horizontal diorite sills previously encountered in hole TCK-001.

Drilling is progressing at an average rate of approximately 10.5 meters per day. Recently progress was temporarily hampered by fractured zones down hole requiring cementing to reduce water loss, on site water supply logistics, and weather-related impacts requiring repairs to roads and drill platforms. Despite these operational challenges, drilling continues steadily, with excellent core recoveries achieved.

Next Steps

  • Continue drilling the planned 1500-meters diamond drill program to test lateral continuity and down-dip extensions of sulphide-bearing sub-horizontal diorite sills, and
  • Update geological, structural, and alteration models with new data.
  • Continue reconnaissance exploration throughout the Tichka Est Gold Project 82 km permits area.

Management Commentary

‘Drill hole TCK-001 at Tichka Est has confirmed the presence of a very promising gold system,’ said J. François Lalonde, President and CEO of Stellar AfricaGold. ‘With mineralization now confirmed at depth, we are becoming increasing confident in the potential of the Tichka Est Gold Project and are excited to expand both our current drilling program to test continuity of mineralization and additional new targets as we advance the Zone B gold discovery. Additionally, our surface reconnaissance exploration of the numerous other areas of interest within the 82km 2 permit area of Tichka Est will continue.’

‘Alongside these exciting results, Stellar wishes to announce the relaunch of our Company newsletter . The revamped newsletter aims to keep stakeholders and shareholders informed with transparent, timely updates. Subscribe here to be the first to receive corporate updates, press releases, and third-party media coverage as it breaks.’

About the Tichka Est Zone B Gold Discovery

The identified Zone B structures are within an approximately 1 km2 area of the 82 km2 total area of the Tichka Est Gold Project. To date, Stellar has built an 8.5-kilometer mountain access road and conducted extensive mapping, sampling and trenching focussing on the regions in and around Zone B. Thus far three significant zones of gold mineralization have been discovered with much of the overall Tichka Est project area still unexplored or only superficially examined.

At the Zone B several programs of mechanical and hand trenches delivered a series of impressive assay results including trenches MT1 3.5 g/t gold over 155.7 meters 1 , MT2 1.52 g/t gold over 39.7 meters and 1.58 g/t Au over 8.6 meters 4 , MT3 1.27 g/t gold over 80 meters 4 , T7B 3.4 g/t gold over 20 meters 3 , T6B 3.4 g/t gold over 17 meters 3 , and T2B 4.56 g/t gold over 15 meters 2 . Zone B is the primary exploration target for 2025 although Stellar will continue reconnaissance exploration throughout the Tichka Est Gold Project permits area.

1 News Release October 4, 2022

2 News Release April 19, 2021

3 News Release October 25, 2021

4 News Release January 25, 2022

Technical Disclosure

The drilling campaign at Tichka Est is being conducted by two geologists from the African Bureau of Mining Consultants, under the supervision of Mr. Yassine Belkabir.

Diamond drilling was conducted using HQ diameter core. Core runs were retrieved every 3.0 m or less, with recovery measured and recorded for each run. Average recovery in reported intervals exceeded 99%. Core was oriented with a Reflex ACT III tool, photographed (wet and dry), and logged for lithology, alteration, mineralization, and structure.

Sampling intervals for assay were typically one metre in length, defined by geological boundaries. Core was cut with a diamond saw, half-core archived, and half-core submitted for analysis.

Sample preparation and assaying were performed by Afrilab in Marrakech , an ISO-certified laboratory independent of the Company. Samples were crushed to 70% passing 2 mm, split to 250 g, and pulverized to 85% passing 75 μm. Gold assays were performed using 50 g fire assay with an atomic absorption spectroscopy (AAS) finish . Over-limit assays (>5 g/t Au) were re-assayed with gravimetric finish.

QA/QC program consisted of 8 reference materials (standards) and 8 blanks inserted by geologists at regular intervals. In addition, Laboratory QA/QC protocols included internal blanks, standards, and duplicates, with performance reported to the exploration team for independent review. No material QA/QC issues were noted in the batches reported.

About Stellar AfricaGold Inc.

Stellar AfricaGold Inc. is a Canadian precious metal s exploration company focused on North and West Africa, with active programs in Morocco and Côte d’Ivoire. Stellar’s principal exploration projects are its advancing gold discovery at the Tichka Est Gold Project in Morocco, and its early-stage exploration Zuénoula Gold Project in Côte d’Ivoire.

The Company is listed on the TSX Venture Exchange ( TSX.V: SPX ) , the Tradegate Exchange ( TGAT: 6YP ) and the Frankfurt Stock Exchange ( FSX: 6YP ) .

The Company maintains its head office in Vancouver, BC and has a representative office in Casablanca, Morocco.

The technical content of this press release has been reviewed and approved by M. Yassine Belkabir, MScDIC, CEng, MIMMM, a Stellar director and a Qualified Person as defined in NI 43-101.

Stellar’s President and CEO J. François Lalonde can be contacted at +1 514-994-0654 or by email at lalondejf@stellarafricagold.com

Additional information is available on the Company’s website at www.stellarafricagold.com.

On Behalf of the Board

J. François Lalonde

J. François Lalonde

President & CEO

This news release contains ‘forward-looking statements’ within the meaning of applicable Canadian securities laws. Forward-looking statements are based on expectations, estimates and projections as at the date of this news release and are subject to known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied. Such risks and uncertainties include, but are not limited to, the Company not achieving the production milestones described herein, changes in business plans or commodity prices, failure to obtain regulatory approvals, and the risk factors described in the Company’s most recent Management’s Discussion and Analysis and Annual Information Form, which are available on SEDAR+ at www.sedarplus.ca . Forward-looking statements are not guarantees of future performance and should not be unduly relied upon. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements contained herein.

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.

Copyright (c) 2025 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

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