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Adavale Resources’ transformative January 2025 acquisition of the Parkes Project gold and copper assets in the prolific Lachlan Fold Belt in New South Wales, delivering a maiden JORC MRE (115 koz) in May 2025 on one of the licenses along with abundant prospects on four neighboring licences, puts the company on a growth trajectory, presenting a compelling investment opportunity for savvy investors.

Overview

Adavale Resources (ASX:ADD) is strategically positioned in the Tier-1 Lachlan Fold Belt of New South Wales, one of the world’s most prolific gold and copper regions. In January 2025, the company acquired the Parkes Gold-Copper Project, a 371.39 sq km landholding across four tenements, including the historic London-Victoria gold mine. By May 2025, Adavale delivered a maiden JORC mineral resource estimate of 115 koz gold, including a higher-grade estimate of 3.14 million tonnes (Mt) at 1.06 grams per ton (g/t) gold for 107 koz, underscoring the quality and scale of the project.

The Parkes project hosts multiple high-priority exploration targets with strong potential for discovery and resource expansion, supported by growing regional infrastructure and proximity to major mining operations. With gold and copper both central to the global energy transition and long-term demand growth, Adavale provides investors with leveraged exposure to two of the most sought-after commodities, backed by a rapidly advancing exploration program in a premier mining jurisdiction.

Adavale Resources

Adavale’s diversified portfolio of critical minerals also includes 11 uranium licences covering 4,959 sq km in South Australia, anchored by the Marree Embayment and Ceduna regions with grades up to 3,550 parts per million (ppm) U₃O₈. The company also holds a 1,315-sq-km nickel position in Tanzania’s East African Nickel Belt, strategically located adjacent to the world-class Kabanga deposit (87.6 Mt @ 2.63 percent nickel).

With drilling programs currently underway across its gold and near-term drilling on its uranium projects, and further exploration planned through 2025, Adavale is well-positioned at the forefront of exploration in commodities critical to the global energy transition.

Adavale Resources

Backed by a robust pipeline, world-class assets in tier-one jurisdictions, and an experienced leadership team, Adavale offers strong leverage to favourable commodity trends and significant growth potential.

Company Highlights

  • A junior explorer, with projects in tier-one jurisdictions, focused on gold and copper, Adavale also holds valuable uranium and nickel licences.
  • The January 2025 acquisition of the Parkes project in the Lachlan Fold Belt, spanning 371.39 sq km, strategically positions Adavale to expand on the historic BHP Gold/Hargraves open pit orogenic gold resource (MRE 115koz) and make a major epithermal and/or porphyry gold and copper discovery in this tier-1 mining jurisdiction. The Lachlan Fold Belt assets are strategically located near world-class mining operations, including Cadia, Northparkes and Cowal.
  • The company’s extensive uranium tenements span 4,959 sq km across the Flinders Ranges and Eyre Peninsula, regions known for hosting tier-one uranium deposits.
  • Adavale’s nickel projects in Tanzania’s East African Nickel Belt are strategically located adjacent to the Kabanga nickel project — the world’s largest undeveloped high-grade nickel sulphide deposit.
  • Drilling and resource-definition programs in 2025 will target key gold, copper and uranium assets, building on the company’s diversified growth strategy.

Key Projects

Gold and Copper – Lachlan Fold Belt, NSW

Lachlan Fold Belt, NSW

Adavale’s Parkes Gold-Copper Project, a highly prospective exploration opportunity in the Lachlan Fold Belt of New South Wales, a Tier-1 mining jurisdiction that has produced more than 80 Moz of gold and 13 Mt of copper. The project covers 371.39 sq km across five granted tenements, anchored by the historic London-Victoria Gold Mine (EL7242), which produced 155,000 oz gold at 1.5 to 2 g/t and remains open for expansion.

Project Highlights

  • Strategic Location: Situated in the world-class Lachlan Fold Belt, home to Cadia, Northparkes, and Cowal.
  • Significant Landholding: 371.39 sq km across five granted tenements (EL7242, EL8830, EL8831, EL9711, EL9785).
  • Maiden JORC Resource (2025): 115 koz gold, including 107 koz @ 1.06 g/t gold from 3.14 Mt higher-grade mineralisation at London-Victoria.
  • High-Grade Upside:
    • Ashes Prospect (EL8831): rock chips up to 8.8 g/t gold and 5.5 percent copper.
    • Welcome Mine (EL8830): historical grades averaging 11 g/t gold.
  • Growth Pathway: Systematic geophysics, geochemistry, and step-out drilling underway to expand the maiden resource and advance Parkes into a multi-deposit gold-copper camp.

Uranium – South Australia

Adavale holds 4,959 sq km of uranium-rich tenements across the highly prospective Flinders Ranges outwash and Eyre Peninsula, regions known for hosting tier-1 uranium deposits.

Historical drilling has revealed promising results, including intercepts of 1 metre at 263 parts per million (ppm) eU3O8 and 0.65 meters at 235 ppm eU3O8. These results underscore the region’s potential to host significant uranium resources.

Adavale’s uranium portfolio is particularly well-positioned to benefit from increasing global demand for uranium, driven by geopolitical factors, rising nuclear energy investment globally, and surging prices, which reached $106/lb in early 2024.

Nickel – East African Nickel Belt, Tanzania

East African Nickel Belt, Tanzania

Adavale’s nickel portfolio includes 1,315 sq km across 13 highly prospective exploration licences in Tanzania’s East African Nickel Belt. It is strategically located next to and along strike of the world-class Kabanga nickel project — the world’s largest undeveloped high-grade nickel sulphide deposit. Recent exploration at the Luhuma Central prospect has confirmed nickel sulphides in all five drill holes completed, with mineralisation trends extending southwest.

The company employs a combination of geophysical methods, including gravity, magnetics and Heli-EM surveys, to refine its understanding of subsurface structures and identify high-priority drill targets. Adavale’s ongoing exploration in this globally significant nickel belt is expected to build on recent successes, advancing resource definition and project development, making the company well-positioned to make a significant contribution to the global demand for battery metals.

Leadership Team

Allan Ritchie – Executive Chairman and CEO

Allan Ritchie is a seasoned executive with over 30 years of experience spanning corporate finance, energy, and resources, with leadership roles across both private and publicly listed companies on the ASX and HKEX. He has served as non-executive director of Hydrocarbon Dynamics (ASX:HCD) and as executive director and Deputy CEO of Hong Kong–listed EPI Holdings (0689.HKEX).

Ritchie’s career also includes senior investment banking roles with Westpac, ANZ, HSBC, and BNP Paribas in Australia, London, New York, and Asia Pacific, where he specialised in structuring transactions in the energy and resources sector and was repeatedly recognised in BRW’s annual ranking of top bankers. He holds a Bachelor of Business from the University of Technology Sydney and a Postgraduate Diploma in Applied Finance from FINSIA.

Maurice (Nic) Matich – Non-executive Director

Maurice (Nic) Matich is a mechanical engineer and finance professional with 17 years’ experience in the resources sector, spanning engineering, risk consulting, and insurance for tier-1 mining companies across lithium, iron ore, mineral sands, gold, and kaolin. He previously served as managing director of Pinnacle Minerals (ASX:PIM) and executive director of Heavy Minerals (ASX:HVY), where he delivered a maiden resource and $253 million NPV8 scoping study for the Port Gregory Project. Matich holds a Bachelor of Engineering (Hons), a Bachelor of Science (Physics/IT), a Graduate Diploma in Applied Finance, and is a graduate of the AICD.

David Ward – Non-executive Technical Director (Geologist)

David Ward is a geologist and mining executive with over 25 years of experience spanning early-stage exploration, project development, and both open-pit and underground mining. As chief geologist of Bacchus Resources for eight years, he defined more than 950Koz of gold resources in the NT and advanced exploration assets in the NT, QLD, and NSW that were later incorporated into projects of multiple ASX-listed companies. He has also held key technical roles with Newcrest Mining at the Cadia Gold Mine and with Clancy Exploration, leading porphyry and epithermal exploration in the Lachlan Fold Belt, NSW.

Leonard Math – CFO & Company Secretary

Leonard Math is a chartered accountant with extensive experience managing financial operations for ASX listed resources companies. He graduated with a Bachelor of Business (double major in accounting and information systems) from Edith Cowan University in 2003 and became a chartered accountant in September, 2008. He has held multiple director, CFO and company secretary roles in the resources sector, most recently with Summit Minerals (ASX:SUM).

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Via InvestorWire — LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF) (FSE: 3WK0) today announces its placement in an editorial published by NetworkNewsWire (‘NNW’), one of 70+ brands within the Dynamic Brand Portfolio @ IBN ( InvestorBrandNetwork ) a specialized communications platform with a focus on financial news and content distribution for private and public companies and the investment community.

To view the full publication, ‘Record Gold Prices Create Unprecedented Opportunities for Near-Term Producers,’ please visit: https://nnw.fm/GMYGw .

Gold has reached a new record high as the U.S. dollar weakens and investors price in expectations of a Federal Reserve interest rate cut. At more than $3,500 an ounce, the yellow metal is shining brighter than ever, buoyed by concerns over inflation, currency debasement and slowing global growth. With the market environment pointing toward continued strength, companies with near-term production potential stand to benefit disproportionately.

LaFleur Minerals Inc. is one such company. Transitioning from explorer to producer, LaFleur’s timing could not be better. With a fully permitted, recently refurbished gold processing mill in excellent condition and strategically located assets in one of Canada’s most prolific mining belts, the company offers a unique value proposition for investors seeking to leverage rising gold prices.

About LaFleur Minerals Inc.

LaFleur Minerals Inc. (CSE: LFLR,OTC:LFLRF) (OTCQB: LFLRF) (FSE: 3WK0) is focused on the development of district-scale gold projects in the Abitibi Gold Belt near Val-d’Or, Québec. Our mission is to advance mining projects with a laser focus on our resource-stage Swanson Gold Project and the Beacon Gold Mill, which have significant potential to deliver long-term value. The Swanson Gold Project is approximately 16,600 hectares (166 km 2 ) in size and includes several prospects rich in gold and critical metals previously held by Monarch Mining, Abcourt Mines, and Globex Mining. LaFleur has recently consolidated a large land package along a major structural break that hosts the Swanson, Bartec, and Jolin gold deposits and several other showings that make up the Swanson Gold Project. The Swanson Gold Project is easily accessible by road with a rail line running through the property allowing direct access to several nearby gold mills, further enhancing its development potential. LaFleur Minerals’ fully refurbished and permitted Beacon Gold Mill is capable of processing more than 750 tonnes per day and is being considered for processing mineralized material at Swanson and for custom milling operations for other nearby gold projects.

For more information, visit the company’s website at LaFleur Minerals Profile .

NOTE TO INVESTORS: The latest news and updates relating to LFLR are available in the company’s newsroom at https://ibn.fm/LFLRF

About NetworkNewsWire

NetworkNewsWire (‘NNW’) is a specialized communications platform with a focus on financial news and content distribution for private and public companies and the investment community. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers : (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries ; (2) article and editorial syndication to 5,000+ outlets ; (3) press release enhancement to ensure maximum impact ; (4) social media distribution via IBN to millions of social media followers ; and (5) a full array of tailored corporate communications solutions . With broad reach and a seasoned team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled recognition and brand awareness. NNW is where breaking news, insightful content and actionable information converge.

For more information, please visit https://www.NetworkNewsWire.com

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: https://www.NetworkNewsWire.com/Disclaimer

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Key Highlights:

  • Crew mobilization is underway to support a 15,000-metre drill program at the Radar Ti-V-Fe Project in Labrador, Canada.
  • Drilling is focused on advancing the Trapper Zone’s 3+ km strike toward a maiden MRE highlighting titanium, vanadium, and iron ore—critical minerals for the global energy transition.
  • Ongoing site work includes trench mapping, surveying, and full camp establishment to optimize drill execution.
  • Infrastructure is in place with new access trails along the oxide layering strike through the Trapper Zone.

Saga Metals Corp. (‘SAGA’ or the ‘Company’) (TSXV: SAGA,OTC:SAGMF) (OTCQB: SAGMF) (FSE: 20H), a North American exploration company focused on critical minerals, is pleased to announce the mobilization of crews to its 100% owned Radar Titanium-Vanadium-Iron (Ti-V-Fe) Project in southern Labrador, Canada. This mobilization marks a significant step in preparing for a major drill program aimed at expanding known mineralization and advancing toward the completion of a maiden mineral resource estimate (MRE) on the project.

Preparation begins for a 15,000m Drill Program at the Radar Ti-V-Fe Project:

Field preparations are underway across the Radar Project’s Trapper Zone, which spans over a 3+ km strike of oxide mineralization. Current work is designed to strengthen drill targeting, maximize efficiency, and ensure high-quality geological data accuracy for the MRE, including:

1. Enhanced Trench Analysis

Building on approximately 504 square metres (5,425 ft²) of trenching completed to date, SAGA is conducting additional high-pressure power washing and detailed geological mapping in three trenches within the Trapper Zone. This work exposes clean bedrock surfaces by removing overburden and vegetation, allowing geologists to document rock types, mineral textures, and oxide layering trends with precision. The process will help refine 3D geological models, confirm continuity of vanadiferous titanomagnetite (VTM) mineralization, and identify the most prospective high-grade drill targets.

2. Surveying and Geophysical Preparation

Crews are also executing a comprehensive surveying program to support drill collar placement and spatial accuracy across the Trapper Zone. Using high-precision GPS, total stations, and laser scanning technology, the team is mapping the newly built 4 km Trapper Trail access route, establishing a geophysics baseline, and cutting grid lines (cutlines) through vegetation to enable further geophysical traverses. The geophysics baseline will serve as a calibration reference for magnetometer instruments, ensuring consistent and reliable detection of anomalies that may indicate subsurface mineralization. Collectively, these surveys are designed to eliminate spatial errors in modelling and optimize drill hole targeting

3. Establishing Full Camp Infrastructure

To support the scale of the upcoming 15,000 metre drill program, SAGA has secured land near Cartwright, Labrador, for the establishment of a fully serviced exploration camp. The camp will include accommodations, a kitchen trailer, a core shack for drill core logging and storage, an office for data management, and a cut shack for sample preparation. Utility infrastructure—including power generation, water storage and filtration, and septic systems—is being installed to ensure long-term operational stability. With this infrastructure in place, SAGA is positioned to support long-term stability and efficiency for the crews managing this milestone drill program.

‘This mobilization is a pivotal moment for the Radar Project as we move from early exploration success toward defining a mineral resource,’ said Mike Stier, CEO and Director of Saga Metals Corp. ‘By investing in thorough trench mapping, advanced surveying, and robust camp infrastructure, we are positioning the Radar Project for a highly efficient 15,000 metre drill program. We believe this campaign has the potential to unlock significant value in titanium, vanadium, and iron—critical minerals essential to the global energy transition. Our priority is to advance Radar toward a mineral resource estimate and deliver value to our shareholders.’

The preparation phase is expected to conclude in the coming weeks, with the 15,000m drilling program scheduled to commence in early November 2025.

Radar Project

Figure 1: Radar Project’s Trapper Zone depicting a 3+ km magnetic anomaly and oxide layering trend. The Trapper Trail (in black) will be the target of the planned 15,000 m diamond drilling program aimed at establishing Saga’s maiden mineral resource estimation.

Summary of the Radar Ti-V-Fe Project in Labrador, Canada:

The Radar Property benefits from exceptional infrastructure, including all-season road access, a nearby deep-water port, hydroelectric power, and an airstrip with claims just 10 km from Cartwright, Labrador. Spanning 24,175 hectares, the Property covers all the Dykes River intrusive complex—an extensive (~160 km²) Mesoproterozoic layered mafic intrusion. Unique amongst Western exploration companies, SAGA controls its entire intrusive complex.

Grenville-age mafic layered intrusions of Québec and Labrador represent a significant but underdeveloped titanium–vanadium–iron resource province. These layered intrusions, emplaced during the Grenvillian orogeny, locally host thick oxide-rich cumulate zones dominated by titanomagnetite and hemo-ilmenite with accessory vanadium and phosphorus. Their scale and metallogenic affinity are directly comparable to major Fe–Ti–V deposits such as Lac Tio (Quebec), Panzhihua (China), Tellnes (Norway) and Bushveld (South Africa), which supply a major share of global TiO₂ feedstock and vanadium for steel alloys and emerging energy storage markets. The combination of large tonnage potential, favourable logistics, and critical mineral content positions the Grenville intrusions, such as Radar’s Dykes River complex, as strategic candidates for development in the context of growing North American demand for titanium, vanadium and high-quality iron.

Early geological mapping, government magnetic surveys and ground-based geophysics of the Radar property have identified oxide layering across more than 20 km of strike length, with mineralized zones remaining open for expansion. Vanadiferous titanomagnetite (‘VTM’) is the principal oxide and occurs as cumulate and intercumulus mineralization over large thicknesses of the Dykes River layered intrusion.

Radar Property map, depicting magnetic anomalies, oxide layering and the site of the 2025 drill program in the Hawkeye zone. The Property is well serviced by road access and is conveniently located near the town of Cartwright, Labrador. A compilation of historical aeromagnetic anomalies is overlaid by ground-based geophysics as shown. SAGA has demonstrated the reliability of the regional airborne magnetic surveys after ground-truthing and drilling in the 2024 and 2025 field programs.

Figure 2: Radar Property map, depicting magnetic anomalies, oxide layering and the site of the 2025 drill program in the Hawkeye zone. The Property is well serviced by road access and is conveniently located near the town of Cartwright, Labrador. A compilation of historical aeromagnetic anomalies is overlaid by ground-based geophysics as shown. SAGA has demonstrated the reliability of the regional airborne magnetic surveys after ground-truthing and drilling in the 2024 and 2025 field programs.

SAGA’s 2025 Winter Drill Program at Radar:

Saga completed its maiden drill program in early 2025, featuring a 2,209-metre, seven-hole diamond drill campaign across the Hawkeye Zone—a combination of 3D magnetic inversion modeling and surface VLF-EM results guided drill targeting. The program intersected broad zones of titanomagnetite-rich oxide layering, with cumulative intersections displaying consistent grades of titanium dioxide (TiO 2 ), vanadium pentoxide (V 2 O 5 ) and iron (Fe).

Similarities in the ratios of TiO 2 and V2O 5 to Fe 3 O 4 across multiple drill holes serve to identify discrete igneous layers. Within the 600 m tested thickness of the layered gabbronorite, the chemistry delineates a very promising 300-400 m thickness, referred to as the Lower Cumulate Layer. The highest V 2 O 5 assays are in the lower 100-200 m, coinciding with the highest-grade intervals of VTMs. The layer is comprised of interlayered gabbronorite and bands of semi-massive to massive VTM.

Drill holes R25-HEZ-01, -07, -04, and -05 intersect this Lower Cumulate Layer. The chemistry indicates that the layer was deposited from a large-volume pulse of Ti-V-Fe-enriched magma. Saga will be targeting this same discrete intrusive horizon along the Trapper Zone’s 3+ km strike length.

Magnetic and VLF-EM Survey to Extend the ‘Trapper Zone’

As crews prepare for the 15,000 m drill program, a small geophysics team will continue a ground-based magnetic survey over the northern and southern extensions of the Trapper Zone. The survey utilizes a GSM-19 magnetometer to collect magnetic-field and VLF-EM data (using VLF Transmitter Cutler).

The survey is conducted using a grid of N-S lines, spaced 50 m apart, with observations made at stations spaced 20 m apart along the lines. The tightly gridded stations will be used to map the extent to which the oxide layering strike continues to the NE-E at the top of the zone and SE-E at the bottom of the zone, both trending back towards the Hawkeye Zone.

Radar Project

Figure 3: Radar Project’s prospective oxide layering zone extends for an inferred 20 km strike length, as shown on a compilation of historical airborne geophysics as well as ground-based geophysics in the Hawkeye and Trapper zones completed by SAGA in the 2024/2025 field programs. SAGA has demonstrated the reliability of the regional airborne magnetic surveys after ground-truthing and drilling in the 2024 and 2025 field programs .

Saga Metals’ Corporate Video

Please find below Saga Metals’ corporate video, produced by Pinnacle Digest, providing an overview of the Company as well as highlighting the key characteristics and developments of the Radar Titanium-Vanadium-Iron (Ti-V-Fe) Project in Labrador, Canada.

A Media Snippet accompanying this announcement is available by clicking on this link.

Qualified Person

Paul J. McGuigan, P. Geo., is an Independent Qualified Person as defined under National Instrument 43-101 and has reviewed and approved the technical information related to the Radar Ti-V-Fe Project disclosed in this news release.

About Saga Metals Corp.

Saga Metals Corp. is a North American mining company focused on the exploration and discovery of a diversified suite of critical minerals that support the global transition to green energy. The Radar Titanium Project comprises 24,175 hectares and entirely encloses the Dykes River intrusive complex, mapped at 160 km² on the surface near Cartwright, Labrador. Exploration to date, including a 2,200m drill program, has confirmed a large and mineralized layered mafic intrusion hosting vanadiferous titanomagnetite (VTM) with strong grades of titanium and vanadium.

The Double Mer Uranium Project, also in Labrador, covers 25,600 hectares featuring uranium radiometrics that highlight an 18km east-west trend, with a confirmed 14km section producing samples as high as 0.428% U 3 O 8 and uranium uranophane was identified in several areas of highest radiometric response (2024 Double Mer Technical Report).

Additionally, SAGA owns the Legacy Lithium Property in Quebec’s Eeyou Istchee James Bay region. This project, developed in partnership with Rio Tinto, has been expanded through the acquisition of the Amirault Lithium Project. Together, these properties cover 65,849 hectares and share significant geological continuity with other major players in the area, including Rio Tinto, Winsome Resources, Azimut Exploration, and Loyal Metals.

With a portfolio that spans key minerals crucial to the green energy transition, SAGA is strategically positioned to play an essential role in the clean energy future.

On Behalf of the Board of Directors

Mike Stier, Chief Executive Officer

For more information, contact:

Rob Guzman, Investor Relations
Saga Metals Corp.
Tel: +1 (844) 724-2638
Email: rob@sagametals.com
www.sagametals.com

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

Cautionary Disclaimer

This news release contains forward-looking statements within the meaning of applicable securities laws that are not historical facts. Forward-looking statements are often identified by terms such as ‘will’, ‘may’, ‘should’, ‘anticipates’, ‘expects’, ‘believes’, and similar expressions or the negative of these words or other comparable terminology. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. In particular, this news release contains forward-looking information pertaining to the exploration of the Company’s Radar Project. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage, inherent risks and uncertainties involved in the mineral exploration and development industry, particularly given the early-stage nature of the Company’s assets, and the risks detailed in the Company’s continuous disclosure filings with securities regulations from time to time, available under its SEDAR+ profile at www.sedarplus.ca. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by applicable law.

Figures accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/845d6c26-2715-41ee-8e06-4f4f489b1aca

https://www.globenewswire.com/NewsRoom/AttachmentNg/877329ca-ebde-4a91-bad4-950efb5f8eb8

https://www.globenewswire.com/NewsRoom/AttachmentNg/c7aaccd0-d157-48b9-874f-f04e0b512563

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(TheNewswire)

Angkor Resources Corp.

GRANDE PRAIRIE, AB, (September 23, 2025) TheNewswire – Angkor Resources Corp. (TSXV: ANK,OTC:ANKOF and OTC: ANKOF) (‘Angkor’ or ‘the Company’) announces shares for debt transactions for an aggregate $1,922,800 debt currently owed by the Company to certain creditors (the ‘ Debt Transactions ‘).

Pursuant to the Shares for Debt Transactions, subject to approval of the TSX Venture Exchange (‘ TSXV ‘), the Company has agreed to issue an aggregate total of 8,263,333 Units at a deemed price of $0.21 per Unit.  Each unit consist of one common share and one-half share purchase warrant (the ‘Warrant’). Each full Warrant exercisable to purchase a common share at 0.30 for a period of 24 months from the date of issuance. The warrants shall be subject to an acceleration clause. In the event that the Company’s shares trade at $0.40 per share or above for a period of 10 consecutive trading days, a forced exercise provision will come into effect for the warrants issued in connection with this offering.

The Company shall also settle an aggregate total of $187,500 through the issuance of common shares at a deemed price of $0.21. The shares settlement represents an amount that is owed to certain Directors Officers or Insiders and Management so does not qualify for warrants (the ‘Related Parties’).

The Units and Shares for Debt Transactions being cleared comes from five different sources, namely:

a. Loans of $471,300 including principal and interest on three facilities.

b. Principal payment of $400,000 on the loan to creditor for the Evesham acquisition.

c. Amounts due to 30% participating partner as settlement based on funds from Almighty Resources on the Oyadao North license in their purchase of the license from Angkor.

d. Notes payable and conversions of $875,000 to funders of the original gas capture project in Evesham Saskatchewan in 2022.

e. Compensation amounts of $62,500 paid to members of management and contractors in lieu of cash as part of their monthly remuneration.

The directors of Angkor voted unanimously in favour of converting the debt to shares at market price.

Grant T. Smith , CFO for Angkor comments, ‘I am very pleased to announce the successful settlement of $1,922,800 of debt through the issuance of common shares. This strategic move significantly improves our balance sheet by reducing our debt burden and lowers our interest expense. With this debt out of the way, we can now focus our resources and efforts on driving our core business initiatives and achieving our long-term goals. This transaction reflects our strong belief in the future of Angkor and our commitment to enhancing shareholder value.’

MI 61-101 Disclosure

The participation of certain insiders, being ‘related parties’ of Angkor means that the Shares for Debt Transaction is considered to be a ‘related party transaction’ of Angkor for purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (‘ MI 61-101 ‘).

Angkor may, however, complete the Shares for Debt Transaction in reliance on exemptions available under MI 61-101 from the formal valuation and minority approval requirements of MI 61-101. Specifically, the Shares for Debt Transaction is exempt from the formal valuation requirement in Section 5.4 of MI 61-101 in reliance on Section 5.5(b) of MI 61-101 as Angkor is not listed on a specified market within the meaning of MI 61-101. Additionally, the Shares for Debt Transaction is exempt from the minority approval requirement in Section 5.6 of MI 61-101 in reliance on Section 5.7(1)(a) of MI 61-101 insofar as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the Shares for Debt Transaction insofar as it involves (or is expected to involve) ‘interested parties’, exceeds 25% of Angkor’s market capitalization.

Closing of the Shares for Debt Transaction is subject to customary closing conditions, including the approval of the TSX Venture Exchange (‘ TSXV ‘). The Common Shares to be issued pursuant to the Shares for Debt Transaction will be subject to a hold period of four months and one day following the date of issuance, in accordance with applicable securities laws and TSXV policies.

ABOUT Angkor Resources CORPORATION:

Angkor Resources Corp. is a public company, listed on the TSX-Venture Exchange, and is a leading resource optimizer in Cambodia working towards mineral and energy solutions across Canada and Cambodia. ANGKOR’s carbon capture and gas conservation project in Saskatchewan, Canada is part of its long-term commitment to Environmental and Social projects and cleaner energy solutions across jurisdictions.  The company’s mineral subsidiary, Angkor Gold Corp. in Cambodia holds three mineral exploration licenses in Cambodia and its Cambodian energy subsidiary, EnerCam Resources, was granted an onshore oil and gas license of 7300 square kilometers in the southwest quadrant of Cambodia called Block VIII.  The license was reduced to roughly half the size with the Company’s voluntary removal of all parks and protected areas in March 2025 and now is 4277 square kilometers.  Since 2022, Angkor’s Canadian subsidiary, EnerCam Exploration Ltd., has been involved in gas/carbon capture and oil and gas production in Evesham, Saskatchewan.

CONTACT: Delayne Weeks – CEO

Email: info@angkorresources.com Website: angkor resources.com

Telephone: +1 (780) 831-8722

Please follow @AngkorResources on , , , Instagram and .

Certain information set out in this news release constitutes forward-looking information within the meaning of applicable securities laws. Forward-looking information is often, but not always, identified by the use of words such as ‘seek’, ‘anticipate’, ‘hope’, ‘plan’, ‘continue’, ‘estimate’, ‘expect’, ‘may’, ‘will’, ‘intend’, ‘could’, ‘might’, ‘should’, ‘scheduled’, ‘believe’ and similar expressions. The forward- looking information set out in this news release relates to future events or our future performance and includes, without limitation statements concerning the Shares for Debt Transaction, Angkor’s ability to obtain all necessary approvals in respect of the Shares for Debt Transaction and the participation of certain insiders and management in the Shares for Debt Transaction.

Although the forward-looking information contained in this news release is based upon what management of Angkor believes are reasonable assumptions on the date of this news release, Angkor cannot assure readers that actual results will be consistent with such forward-looking information. Forward-looking information involves substantial known and unknown risks, uncertainties and other factors which cause actual results to vary from those expressed or implied by such forward looking information, including without limitation those risks and uncertainties described in more detail in Angkor’s securities filings available at www.sedarplus.ca . Forward-looking information should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved.

The forward-looking information contained in this news release is provided as of the date hereof. Angkor disclaims any intention or obligation to update or publicly revise any forward–looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws. All forward-looking information contained in this news release is expressly qualified in its entirety by the foregoing cautionary statements.

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


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President Donald Trump canceled a meeting with top congressional Democrats on Tuesday over ‘unserious and ridiculous demands’ as the deadline to fund the government fast approaches.

Senate Minority Leader Chuck Schumer, D-N.Y., and House Minority Leader Hakeem Jeffries, D-N.Y., were set to meet with Trump on Thursday to discuss a path forward to avert a partial government shutdown before the Sept. 30 deadline.

Lawmakers are still away from Washington, D.C., this week to observe the Jewish New Year, Rosh Hashanah, and the Senate is expected to return on Sept. 29. Meanwhile, the House is expected to be out until the deadline passes.

But Trump nixed the meeting in a lengthy post on his social media platform Truth Social, where he blasted the duo for pushing ‘radical Left policies that nobody voted for.’ 

‘I have decided that no meeting with their Congressional Leaders could possibly be productive,’ Trump said. 

The now canceled meeting with Trump came on the heels of a letter from Schumer and Jeffries sent over that weekend where the top congressional Democrats laid the possibility of a shutdown on his and Republicans’ feet.

They argued that the Trump-backed short-term extension was ‘dirty,’ which would mean it had partisan policy riders or spending attached to it, and panned it for continuing ‘the Republican assault on healthcare,’ ignoring expiring Affordable Care Act (ACA) premium subsidies, and possibly leading to the closure of hospitals and other healthcare facilities across the country.

‘With the September 30th deadline fast approaching, Republicans will bear responsibility for another painful government shutdown because of the refusal of GOP congressional leadership to even talk with Democrats,’ they wrote at the time.

But Trump argued that their bill would allow for the nearly $1 trillion in Medicaid cuts in his ‘big, beautiful bill’ to be repealed, and also blasted the Democratic continuing resolution (CR) for ending his megabill’s $50 billion rural hospital fund. 

‘We must keep the Government open, and legislate like true Patriots rather than hold American Citizens hostage, knowing that they want our now thriving Country closed,’ he said. 

‘I’ll be happy to meet with them if they agree to the Principles in this Letter,’ Trump continued. ‘They must do their job! Otherwise, it will just be another long and brutal slog through their radicalized quicksand. To the Leaders of the Democrat Party, the ball is in your court. I look forward to meeting with you when you become realistic about the things that our Country stands for. DO THE RIGHT THING!’

Schumer and Jeffries last month demanded a meeting with Senate Majority Leader John Thune, R-S.D., and House Speaker Mike Johnson, R-La., to strike a deal, given that Thune will need Democratic support in the Senate.

However, that meeting has so far not come to fruition — though Thune has pushed back on Schumer’s characterization and argued that if the Democratic leader wants to talk, it’s on him to make it happen.

‘After weeks of Republican stonewalling in Congress, President Trump has agreed to meet this week in the Oval Office,’ they said in a joint statement. ‘In the meeting, we will emphasize the importance of addressing rising costs, including the Republican healthcare crisis. It’s past time to meet and work to avoid a Republican-caused shutdown.’

The last time Schumer went to negotiate with Trump at the White House ahead of a looming deadline in 2018, the government shut down for 35 days, which marked the longest partial closure in history. At the time, Schumer and Rep. Nancy Pelosi, D-Calif., were at odds with Trump on a deal to fund construction of a wall on the southern border.

Prior to the meeting being announced, White House press secretary Karoline Leavitt argued that if the government shuttered, it ‘would be the fault of the Democrats.’

‘We want a clean funding extension to keep the government open, that’s all we’re advocating for,’ she said.

However, the House Republicans’ bill is relatively ‘clean,’ save for tens of millions in spending for increasing security measures for lawmakers in the wake of the assassination of conservative activist Charlie Kirk.

Congressional Democrats’ counter-proposal, which also failed last week, included more funding for member security, but also sought to repeal the healthcare portion of Trump’s ‘big, beautiful bill,’ claw back billions of canceled funding for NPR and PBS, and permanently extend the expiring ACA credits.

Thune noted last week that CRs ‘aren’t places to load big health policy changes in.’  

‘I think that we are open to the conversation about what we do with the ObamaCare premium tax credit,’ Thune said. ‘Is that something in which members, Republican senators, and I think, for that matter, Republican House members, have an interest, as well.’

‘But this isn’t the place to do that,’ he continued. ‘This is the place to fund the government, to allow our appropriations process to continue that issue.’

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In her new book, former Vice President Kamala Harris indicates that President Joe Biden’s unpopularity harmed her 2024 presidential bid, suggesting that among the issues was the president’s ‘perceived blank check to [Israeli leader] Benjamin Netanyahu in Gaza,’ Axios reported.

‘I had pleaded with Joe, when he spoke publicly on this issue, to extend the same empathy he showed to the suffering of Ukrainians to the suffering of innocent Gazan civilians,’ she wrote, according to the outlet. 

‘But he couldn’t do it: While he could passionately state, ‘I am a Zionist,’ his remarks about innocent Palestinians came off as inadequate and forced.’

Trump trounced Harris in the 2024 contest — she lost the Electoral College and the popular vote.

Harris claimed in her book that Netanyahu ‘wanted [Donald] Trump in the seat opposite him. Not Joe, not me,’ according to Axios.

The former vice president’s book about her whirlwind presidential campaign, ‘107 Days,’ was released on Tuesday.

‘I believe Israel was right to respond to the atrocities of October 7,’ she wrote, according to Axios. 

‘But the ferocity of Netanyahu’s response, the number of innocent Palestinian women and children killed, and his failure to prioritize the lives of the hostages had weakened Israel’s moral position internationally and created angry dissent within Israel itself.’

Kamala Harris offers tepid endorsement of Zohran Mamdani

A December 2023 Politico article titled ‘Kamala Harris pushes White House to be more sympathetic toward Palestinians’ quoted Harris press secretary Kirsten Allen claiming that ‘there is no daylight between the president and the vice president, nor has there been’ and they ‘have been clear: Israel has a right and responsibility to defend itself; humanitarian aid must be allowed to flow into Gaza; innocent civilians must be protected; and the United States remains committed to a two-state solution.’

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Newly confirmed U.S. Ambassador to the United Nations Michael Waltz will work to ‘Make the U.N. great again,’ while working to root out antisemitism, eliminate ‘woke’ programs and become more aggressive in telecommunications, aviation, space and more, sources familiar with his priorities told Fox News Digital.

Waltz, a retired Army National Guard colonel and former Green Beret, previously served as a House Republican from Florida before being tapped to serve as Trump’s national security advisor.

Waltz was confirmed as U.N. ambassador Friday, ending a nearly nine-month gap during which the U.S. was without a representative at the U.N. His confirmation also came just before the U.N. General Assembly began in New York City.

A source familiar with Waltz’s plans told Fox News Digital that he will reform the U.N. by working to ‘clean up the woke nonsense that’s infected the U.N., like so many other government institutions.’

The source told Fox News Digital that Waltz plans to reform U.N. agencies focused on climate and ‘woke’ programs.

The source stressed that Waltz will also reform the way the United States is represented at the U.N.

‘President Trump is the president for peace,’ another source familiar with Waltz’s plans told Fox News Digital. ‘The U.N.’s original mandate was to bring everybody together and prevent wars or stop wars.’

The source added: ‘We need to get back to basics.’

That source also told Fox News Digital that Waltz will work to root out antisemitism at the U.N.

Waltz also has signaled that he plans to be more aggressive in international standard-setting bodies which affect U.S. businesses and the economy. For example, China has been ‘very aggressive’ in agencies that govern how aviation, telecommunications, space and international shipping work,’ a source said.

‘We need to be more aggressive,’ the source said.

Waltz also plans to support Trump’s agenda and priorities set by Secretary of State Marco Rubio.

During his confirmation hearing, Waltz advocated for reforms at the U.N. and argued that ‘we should have one place in the world where everyone can talk.’

‘Where China, Russia, Europe, the developing world, can come together and resolve conflicts,’ he said. ‘But after 80 years, it’s drifted from its core mission of peacemaking.’

Meanwhile, on his first day at the U.N., Waltz warned Monday that the U.S. and its allies will defend ‘every inch’ of NATO territory after Russian fighter jets violated Estonian airspace.

‘The United States stands by our NATO allies in the face of these airspace violations, and I want to take this first opportunity to repeat and to emphasize the United States and our allies will defend every inch of NATO territory,’ Waltz said during opening remarks of the U.N. General Assembly high-level week. ‘Russia must urgently stop dangerous behavior.’

The warning marked one of Waltz’s first public statements since his Senate confirmation. It came days after three Russian MiG-31 jets flew deep into Estonian airspace — the closest such incursion to the Baltic nation’s Parliament building in years — raising fears Moscow is testing NATO’s resolve.

Fox News’ Morgan Phillips contributed to this report. 

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Sun Summit Minerals Corp. (TSXV: SMN,OTC:SMREF) (OTCQB: SMREF) (‘Sun Summit’ or the ‘Company’) is pleased to provide an update from its 2025 exploration program, including the addition of a second drill rig, at the JD Project, Toodoggone Mining District, north-central British Columbia.

Highlights:

  • Assays Pending: Assays from ten additional drill holes (totalling 3,340 meters) drilled at the Creek zone are pending.

  • Expansion of exploration program to 5,500+ meters: Over 5,500 meters of drilling is now planned at the JD Project, roughly 10% more than originally contemplated.

‘We are delighted to mobilize a second drill rig to the Creek Zone at the JD Property prior to the end of the drill season in order to follow up on the success from Hole CR-25-007,’ said Niel Marotta, CEO of Sun Summit Minerals. ‘The exceptional grades and strong continuity in this hole highlighted what we believe may be a new parallel zone, making it a top priority to test further while the drills are turning. We are also excited to begin drilling at the silver-rich Finn Zone, and, separately, to have completed 900 meters at Belle South, one of our most prospective porphyry targets. Expanding our understanding of mineralization at depth and the porphyry potential at JD will remain a key focus as we wrap up the 2025 program and look ahead to 2026 and beyond.’

Ongoing Exploration Program

The primary exploration goals at JD in 2025 are to advance and expand the Creek and Finn gold-silver targets and to generate and refine new priority targets across the project. Work is currently focused on the highly prospective 4.5 km long epithermal-related Finn to Creek corridor, as well as the 12 km long JD Porphyry trend. Exploration updates include:

Drilling at Creek Zone: Follow-up drilling has begun with a second drill rig at the Creek Zone. Holes are planned to follow-up and expand on results from CZ-25-007 (78.0 at 3.72 g/t gold, from 30.0 meters down hole). Step-out holes are designed to test the down-dip and northwest strike extent of strong epithermal-related gold mineralization intersected in CZ-25-007. The upper 78.0 meter interval of CZ-25-007 is in an area not previously tested by drilling and may represent a parallel zone of mineralization north of the main series of Creek Zone high-grade veins.

Drilling at Finn Zone: Drilling at the Finn Zone will include confirmation, infill, and step-out holes.  Holes are designed to evaluate the extent and continuity of high-grade and bulk-tonnage gold-silver mineralization, confirm structural controls and explore at depth to assess the geometry and grade of the mineralized footwall zone. Historical highlight intercepts (Figure 2) include:

  • 35.7 m of 7.26 g/t Au, 94 g/t Ag including 1.0 m of 215.4 g/t Au, 308 g/t Ag (JD95-0472)
  • 45.0 m of 3.02 g/t Au, 143 g/t Ag including 5.0 m of 8.18 g/t Au, 918 g/t Ag (JD95-0762)
  • 20.85 m of 8.76 g/t Au, 68 g/t Ag including 11.0 m of 15.1 g/t Au,108 g/t Ag (JD95-0972)
  • 22.0 m of 6.32 g/t Au, 46 g/t Ag including 12.6 m of 10.8 g/t Au, 66 g/t Ag (JD12-0033)

Drilling in the 1990s at the Finn zone primarily focused on a high-grade core covering an area of roughly 300 by 100 metres, with drill holes typically spaced at 25-metre intervals (see February 1, 2024, news release). Downhole sampling was inconsistent, leaving significant gaps in data, and several holes ended in strong gold-silver mineralization. Later drilling in 2012-2013 expanded the mineralized zone, extending it down-dip by 350 metres and along strike for 500 metres.

Drilling at Belle South: Over 900 meters of reconnaissance drilling across two holes at the Belle South Cu-Au porphyry target have now been completed. The significant Belle South magnetic-high was covered by the 2025 Phase I IP Survey, the results which have now been processed, inverted and interpreted (Figure 3 and see News Release Sept. 18, 2025). Similar to Amarc’s AuRORA discovery, Belle South demonstrates a strong chargeability-high coincident with a strong magnetic-high anomaly. Both holes have been logged and samples will be sent to the lab in the coming weeks. Results from the two holes will inform the geological understanding of one of the higher-priority porphyry targets identified this year within the project-scale 12 km long, JD Porphyry trend (see press release dated September 18, 2025).

Cannot view this image? Visit: https://images.newsfilecorp.com/files/6142/267497_2599b9ea04247855_001.jpg

Figure 1. Plan map showing drill collar location of CZ-25-007 and additional drill holes with pending results. The area of follow-up drilling is shown to the northwest of CZ-25-007. Selected highlights from the 2024 drill program at the Creek Zone are also shown (see October 2nd, 2024 and October 16th, 2024 news releases). See references below for sources of historical drill data.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6142/267497_2599b9ea04247855_001full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/6142/267497_2599b9ea04247855_002.jpg

Figure 2. Map of the Finn Zone showing historical drill collar locations with selected highlights. The area targeted for 2025 drilling is outlined in red. See references below for sources of historical data.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6142/267497_2599b9ea04247855_002full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/6142/267497_2599b9ea04247855_003.jpg

Figure 3. JD Porphyry Trend, Figure A: Map of the JD Project showing the recently acquired and compiled IP data (400m depth slice through the chargeability model). Inset photo looking south down McClair Creek showing parts of the 10 km long McClair Creek gossan. The Belle South porphyry target is situated above the gossan on a till covered plateau, where the coincident high-chargeability and high-magnetic intensity (Figure 3b) is located. Figure B. Map of the JD Project showing total magnetic intensity data acquired in 2021 overlain with IP lines and key target areas.

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https://images.newsfilecorp.com/files/6142/267497_2599b9ea04247855_003full.jpg

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Figure 4. Map of the Toodoggone District showing the location of the JD Project in relation to other development and exploration projects. Data sourced from Thesis, TDG and Centerra’s corporate websites. The QP has been unable to verify the information and that the information is not necessarily indicative to the mineralization on the property that is the subject of the disclosure.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6142/267497_2599b9ea04247855_004full.jpg

National Instrument 43-101 Disclosure

This news release has been reviewed and approved by Sun Summit’s Vice President Exploration, Ken MacDonald, P. Geo., a ‘Qualified Person’ as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. Some technical information contained in this release is historical in nature and has been compiled from public sources believed to be accurate. The historical technical information has not been verified by Sun Summit and may in some instances be unverifiable dependent on the existence of historical drill core and grab samples.

Community Engagement

Sun Summit is engaging with First Nations on whose territory our projects are located and is discussing their interests and identifying contract and work opportunities, as well as opportunities to support community initiatives. The Company looks forward to continuing to work with local and regional First Nations with ongoing exploration.

About the JD Project

The JD Project is located in the Toodoggone mining district in north-central British Columbia, a highly prospective deposit-rich mineral trend. The project covers an area of over 15,000 hectares and is in close proximity to active exploration and development projects, such as Thesis Gold’s Lawyers and Ranch projects, TDG Gold’s Baker-Shasta projects, Amarc Resource’s AuRORA project, Centerra’s Gold’s Kemess East and Underground projects, as well as the past-producing Kemess open pit copper-gold mine.

The project is 450 kilometres northwest of the city of Prince George, and 25 kilometres north of the Sturdee airstrip. It is proximal to existing infrastructure in place to support the past-producing Kemess mine, including roads and a hydroelectric power line.

The JD Project is in a favourable geological environment characterized by both high-grade epithermal gold and silver mineralization, as well as porphyry-related copper and gold mineralization. Some historical exploration, including drilling, geochemistry and geophysics, has been carried out on the property, however the project area is largely underexplored.

About Sun Summit

Sun Summit Minerals (TSXV: SMN,OTC:SMREF) (OTCQB: SMREF) is a mineral exploration company focused on the discovery, expansion and advancement of district scale gold and copper assets in British Columbia. The Company’s diverse portfolio includes the JD and Theory projects in the Toodoggone region of north-central B.C., and the Buck Project in central B.C.

Further details are available at www.sunsummitminerals.com.

References

  1. Hawkins, P.A. (1998), 1997 Exploration Report on the Creek Zone for Antares Mining and Exploration Corporation and AGC Americas Gold Corporation, JD Property, Toodoggone River Area, Omineca Mining Division, Internal Report #98-065-1.

Link to Figures

Figure 1: https://wp-sunsummitminerals-2024.s3.ca-central-1.amazonaws.com/media/2025/09/SMN_JD_CZ007_20250903_Figure_1-scaled.jpg

Figure 2: https://wp-sunsummitminerals-2024.s3.ca-central-1.amazonaws.com/media/2025/06/SMN_JD_Plans_20250618_Fig-4-scaled.jpg

Figure 3a: https://wp-sunsummitminerals-2024.s3.ca-central-1.amazonaws.com/media/2025/09/SMN_JD_IP_20250918_Fig1-scaled.jpg

Figure 3b: https://wp-sunsummitminerals-2024.s3.ca-central-1.amazonaws.com/media/2025/09/SMN_JD_IP_20250918_Fig2-scaled.jpg

Figure 4: https://wp-sunsummitminerals-2024.s3.ca-central-1.amazonaws.com/media/2025/09/SMN_JD_CZ007_20250903_V4_Figure-5.jpg

On behalf of the board of directors

Niel Marotta
Chief Executive Officer & Director
info@sunsummitminerals.com

For further information, contact:

Matthew Benedetto, Simone Capital
mbenedetto@simonecapital.ca
Tel. 416-817-1226

Forward-Looking Information

Statements contained in this news release that are not historical facts may be forward-looking statements, which involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In addition, the forward-looking statements require management to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate, that the management’s assumptions may not be correct and that actual results may differ materially from such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements. Generally forward-looking statements can be identified by the use of terminology such as ‘anticipate’, ‘will’, ‘expect’, ‘may’, ‘continue’, ‘could’, ‘estimate’, ‘forecast’, ‘plan’, ‘potential’ and similar expressions. Forward-looking statements contained in this press release may include, but are not limited to, the timing of and size and scope of the drill program at the JD property; indications and results from drilling may be materially different; the Company’s exploration plans, expectations and forecasts. These forward-looking statements are based on a number of assumptions which may prove to be incorrect which, without limiting the generality of the following, include: the Company’s ability to complete the drill program as currently contemplated; the anticipated results based on current indications; risks inherent in exploration activities; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; and fluctuations in metal prices. The forward-looking statements contained in this news release are made as of the date hereof or the dates specifically referenced in this press release, where applicable. Except as required by applicable securities laws and regulation, Sun Summit disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

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.

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FPX Nickel Corp. ( TSX-V: FPX) (OTCQB: FPOCF ) (‘ FPX ‘ or the ‘ Company ‘) is pleased to announce the signing of an option agreement to acquire up to 100% of the Advocate Nickel Property (‘ Advocate ‘ or the ‘ Property ‘) in Newfoundland . Concurrently, the Company is pleased to report that the Japan Organization for Metals and Energy Security (‘ JOGMEC ‘) has accepted Advocate as the first Designated Property within the FPX-JOGMEC Generative Alliance, and that a significant work program is planned to expand upon the encouraging Davis Tube Recoverable (‘ DTR ‘) nickel values obtained from surface sampling to-date.

FPX Nickel logo (CNW Group/FPX Nickel Corp.)

Highlights

  • The large, highly prospective, Advocate Nickel Property covers 86.25 km 2 and includes over 45 km strike length of serpentinized ultramafic rocks, the suitable host rock formation for awaruite mineralization
  • Three sizeable zones of awaruite mineralization have been discovered to date at Advocate, with surface rock samples returning DTR nickel grades of up to 0.14% and remaining open in all directions
  • JOGMEC and FPX have established a budget of $450,000 for Advocate exploration activities in 2025, with work expected to define drill targets at one or more zones through property-wide rock sampling and grid-based top-of-bedrock sampling in areas with limited outcrop

‘After reviewing over 50 targets in 10 jurisdictions worldwide, including 11 in Newfoundland , we have selected Advocate as the first Designated Project to be advanced by our FPX-JOGMEC Generative Alliance,’ commented Keith Patterson , FPX’s Vice President, Exploration. ‘Geologically, we see many similarities between awaruite mineralization at Advocate and our Baptiste Project in British Columbia , which boasts Probable Mineral Reserves of 1,488 Mt at an average grade of 0.13% DTR nickel (per the Company’s 2023 preliminary feasibility study). We are excited to unearth the full potential at Advocate through high-quality, systematic exploration over the coming years in tandem with our partners.’

Advocate Nickel Property

The Advocate Nickel Property is located in north-central Newfoundland , approximately 20 km southwest of the historic mining town of Baie Verte (Figure 1). The mineral licenses are 8,625 hectares in size, covering highly prospective, serpentinized ultramafic rocks and include over 45 km of strike length of the Advocate Complex ophiolite. Access to the Property is via a good quality network of logging roads, generally no more than 5 to 10 km from the Trans Canada Highway or Newfoundland highway 410. The Property vendor currently operates a deep-sea port at Pine Cove, approximately 50 km northeast of the Property.

Reconnaissance rock sampling to date, with over 200 samples collected to-date, has delineated three zones of high-grade awaruite mineralization, including the Wolverine Pond, Birchy Lake North, and Birchy Lake targets.

Wolverine Pond Zone

The Wolverine Pond target covers an area of approximately 1,600m x 500m and remains open in several directions. Awaruite mineralization is currently defined by 28 rock samples which have returned up to 0.14% DTR nickel and show the following distribution of DTR nickel grades:

DTR Ni (%)

Number of samples

> 0.10

4

0.08 – 0.10

1

0.06 – 0.08

10

0.04 – 0.06

11

2

Future planned work at the Wolverine Pond Zone includes additional rock sampling and top-of-bedrock sampling in areas of till cover to more precisely delineate awaruite mineralization. Successful results from these planned programs would be expected to lead to an inaugural drill program.

Birchy Lake Zone

The Birchy Lake target is currently defined by sixteen surface rock samples covering a 500 x 400 metre area, with the zone remaining open in most directions. Of these sixteen rock samples, fifteen returned greater than 0.04% Davis Tube Recoverable (‘ DTR ‘) nickel, four returned greater than or equal to 0.08% DTR nickel, and the highest-grade sample returned 0.12% DTR nickel.

Next steps at the Birchy Lake Zone include additional rock sampling and top-of-bedrock sampling in areas of till cover. It is expected that this work will lead to the delineation of drill targets at Birchy Lake.

The Birchy Lake North target is defined by only five rock samples covering an approximately 500 m strike length. It remains open to the northeast and southwest. DTR nickel grades range from 0.07% to 0.13%. Significantly more rock sampling and top-of-bedrock sampling is warranted at this zone.

Advocate Nickel Mineralogy and Total Nickel Values

Mineralogical analysis in the form of QEMSCAN (Quantitative Evaluation of Minerals by Scanning Electron Microscopy) was performed on eleven sub-samples of the magnetic fraction of Advocate rock samples produced by DTR magnetic separation. The presence of awaruite was confirmed in all eleven samples tested; higher-grade samples were determined to contain abundant coarse-grained awaruite. The presence of coarse-grained awaruite provides additional confidence that the awaruite at Advocate is likely to be recoverable using magnetic separation similar to that demonstrated in bench- and pilot-scale testing for Baptiste mineralization.

Total nickel values in ultramafic rock samples collected to date from the Advocate Property range from 0.18% to 0.29% and average 0.23%. These values are consistent with typical background nickel values from ultramafic rocks sampled globally and do not represent potentially recoverable nickel. The high DTR nickel values obtained from the Advocate zones indicate that the nickel in these target areas is primarily contained in awaruite with grain sizes sufficiently coarse to be recovered by magnetic separation.

FPX-JOGMEC Joint Venture

After careful review of both geological and business considerations, JOGMEC has elected to accept the Advocate Nickel Property as the first new Designated Property to be advanced to project specific work within the broader FPX-JOGMEC Generative Alliance. Going forward, JOGMEC will have the ability to obtain a 60% interest in Advocate and will fund 60% of expenditures; FPX will hold the remaining 40% interest in Advocate and will fund 40% of expenditures for the project.

A preliminary budget of $450,000 has been approved for Advocate for 2025, in addition to the $1.5 million budget for ongoing global generative activities. Ongoing exploration at Advocate includes property-wide rock sampling and excavator test pitting to allow for rock sampling in areas without outcrop due to till cover. The goal of the current program is to delineate drill targets at one or more zones by year-end.

Option Agreement Terms

The Company has signed an option agreement (‘ Agreement ‘) to acquire up to 100% of the Advocate Nickel Property from Shoreline Exploration Inc. (‘ Shoreline ‘). The Agreement splits the option into a three-year first option (the ‘ First Option ‘) which allows the Company to acquire up to 80% of the Property, and an additional five-year option (the ‘ Second Option ‘) allowing the Company to purchase the remaining 20%. An overview of the option terms is presented below.

First Option

  • Three-year term
  • Staged cash payments totaling $225,000
  • Staged work commitments totaling $2,500,000
  • The Company to earn an 80% interest in the Advocate Nickel Property upon completion of the First Option work commitments and cash payments

Second Option

  • Five-year term commencing on the completion of the First Option
  • Cash payment of $6,000,000 to purchase the remaining 20% of the Advocate Nickel Property for a total of 100% ownership

Sampling and Analytical Method

One- to two-kilogram rock samples were collected in the field from outcrop or locally sourced float in areas where outcrop was unavailable. Locations were documented using handheld GPS units. Once bagged, tagged, and sorted, samples were shipped to Activation Laboratories in Ancaster, Ontario .

Sample preparation involved crushing the entire sample to 80% less than 2 mm, riffle splitting 250 g, and pulverization of the split to greater than 95% passing 74 microns. Analytical procedures included whole rock analysis by lithium metaborate/tetraborate fusion ICPOES, Davis Tube magnetic separation, and lithium borate fusion XRF analysis on the magnetic separate. The DTR nickel grade is calculated by multiplying the magnetic separate XRF fusion nickel value by the weight of the magnetic fraction, divided by total recorded weight.

QA/QC procedures included the insertion of industry-standard commercial standards in all phases of the analytical procedures, duplicates at multiple stages in the preparation procedures and blanks. All QA/QC protocols were performed by Activation Laboratories. The DTR method is a bench scale metallurgical test procedure and is used to provide a measure of magnetically recoverable nickel and is the global, industry standard for geometallurgical testing for magnetic recovery operations and exploration projects.

Qualified Person

Keith Patterson , P.Geo., FPX’s Vice President, Exploration, FPX’s Qualified Person under NI 43-101, has reviewed and approved the scientific and technical content of this news release.

About FPX Nickel Corp.

FPX Nickel Corp.  is focused on the exploration and development of the Baptiste Nickel Project, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite.  For more information, please view the Company’s website at https://fpxnickel.com/ or contact Martin Turenne , President and CEO, at (604) 681-8600 or ceo@fpxnickel.com .

On behalf of FPX Nickel Corp.

‘Martin Turenne’
Martin Turenne , President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered ‘forward-looking information’ within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company’s periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Figure 1 – Location of the Advocate Nickel Project in the Baie Verte Peninsula, Newfoundland (CNW Group/FPX Nickel Corp.)

Figure 2 – DTR nickel results from the Wolverine Pond zone (CNW Group/FPX Nickel Corp.)

Figure 3 – DTR nickel results from the Birchy Lake and Birchy Lake North zones (CNW Group/FPX Nickel Corp.)

SOURCE FPX Nickel Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2025/23/c4993.html

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The new store reopens featuring an all-new design, Apple’s latest retail innovations, and a special Today at Apple session with supergroup Number_i

Apple® today announced the grand reopening of Apple Ginza on Friday, September 26, located in the vibrant Ginza district where Apple’s retail journey in Japan began more than two decades ago. Opened in 2003 as Apple’s first store outside the U.S., Apple Ginza now returns in an all-new four-story design that brings together the best of Apple’s products, services, and experiences in one beautifully reimagined space.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250923937921/en/

Apple Ginza will reopen on Friday, September 26, located in the vibrant Ginza district where Apple

Apple Ginza will reopen on Friday, September 26, located in the vibrant Ginza district where Apple’s retail journey in Japan began more than two decades ago.

‘Apple Ginza holds a special place in our hearts as our very first Retail store outside the US, and its opening more than 20 years ago marked a new chapter in how we connect with our customers around the world,’ said Tim Cook, Apple’s CEO. ‘This reopening is another incredible milestone on our journey here in Japan, and a symbol of our strong ties to customers and communities across the country. We couldn’t be more excited to open the doors to this beautifully redesigned space, share our latest products, and build on the incredible history we share.’

‘We’re so excited to reopen Apple Ginza in its original location, with a magical new experience for our customers,’ said Deirdre O’Brien, Apple’s senior vice president of Retail and People. ‘We’re thrilled to welcome everyone back to this iconic store with an all-new design and incredible local programming, where they can experience the very best of Apple’s products and services.’

Discover and Shop Apple

At Apple Ginza, customers can discover and shop the full lineup of Apple products, including iPhone® 17, iPhone Air, iPhone 17 Pro, iPhone 17 Pro Max, Apple Watch® Series 11, Apple Watch Ultra 3, Apple Watch SE 3 and AirPods Pro® 3, as well as accessories like the iPhone Air Bumper, the iPhone Air Case with MagSafe®, and the all-new Crossbody Strap. Customers can celebrate the opening with a special-edition Apple Gift Card, available only at this store for a limited time.

Customers can experience only-at-Apple retail services like personalized shopping sessions with an Apple Specialist, monthly financing options, and upgrading through the Apple Trade In® program — a great way to apply the value of a current device toward the purchase of a new one. The dedicated Apple Pickup area makes it easy for customers to order from the Apple Store® online and collect in-store at a time that’s convenient for them.

Special Sessions

To celebrate the reopening, Apple Ginza will launch a special Today at Apple® Spotlight session in collaboration with Japanese supergroup Number_i, exploring Spatial Audio and spatial video through their single, ‘U.M.A.’ The session will debut exclusively at Apple Ginza before expanding to stores across Japan on October 11. Fans can also book one-on-one demos of Apple Vision Pro™ to step into an immersive behind-the-scenes look at the ‘U.M.A.’ music video in the Spatial Gallery app.

Customers can explore the full range of daily Today at Apple sessions, including the new and updated ‘Tips: What’s New on iOS 26’ and ‘Say Hello to iPhone 17 and iPhone 17 Pro,’ providing more ways to get the most out of the latest Apple products.

Designed for Tokyo

Like all Apple facilities, Apple Ginza’s operations are powered by 100 percent renewable energy. The store’s thoughtful layout combines sustainability with a distinctly modern design, incorporating regionally sourced materials and a double-skin glass façade with adaptive louvers that help regulate light and temperature throughout the day. Its reimagined layout floods each floor with natural light and offers balcony-like spaces overlooking the vibrant streets of Ginza. Inside, warm wooden paneling nods to Japanese design.

The new store also features varied table and seating heights to support all customers as they shop for their favorite devices, and dedicated spaces for services, including Genius Bar to personalized setup.

Customers are encouraged to download a custom wallpaper , listen to a curated Apple Music Ginza Playlist , and sign up for upcoming Today at Apple sessions . Apple Ginza opens to customers Friday, September 26, at 10 a.m. JST.

NOTE TO EDITORS: For additional information visit Apple Newsroom ( www.apple.com/newsroom ), or email Apple’s Media Helpline at media.help@apple.com .

© 2025 Apple Inc. All rights reserved. Apple, the Apple logo, iPhone, Apple Watch, AirPods Pro, MagSafe, Apple Trade In, Apple Store, Today at Apple, and Apple Vision Pro are trademarks of Apple. Other company and product names may be trademarks of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250923937921/en/

Pia Fontes
Apple
pia_fontes@apple.com

Brian Bumbery
Apple
bumbery@apple.com

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