John Feneck, portfolio manager and consultant at Feneck Consulting, shares his thoughts on silver’s price breakout, as well as potential triggers for gold’s next move up.
He also discusses stocks he’s watching in sectors like gold, silver and ‘special situations.’
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
The platinum price surged more than 90 percent from Q2 on in 2025, passing US$1,900 per ounce in December.
After silver, platinum was easily the second best-performing metal in terms of price for the year.
Some of its gains were due to strong industrial demand from the automotive sector and emerging clean energy technologies. And as a precious metal, interest rate cuts by the US Federal Reserve have boosted investment demand.
However, the biggest factor moving platinum’s price is the projected supply shortfall of more than 692,000 ounces for the year. Will these trends carry on in to 2026? Read on to learn more about what analysts believe is in the cards.
The automotive industry is easily the largest demand sector for platinum.
Both platinum and palladium can be used in catalytic converters, which help eliminate toxic emissions from vehicle tailpipe gases. As their prices fluctuate, platinum and palladium tend to be swapped.
Even so, in its latest platinum quarterly, released on November 19 and prepared by Metals Focus, the World Platinum Investment Council (WPIC) is reporting that demand for platinum from the auto sector will drop 3 percent in 2025 to 3.02 million ounces, followed by another 3 percent decline to 2.915 million ounces of the metal in 2026.
This is due in large part to the transition from internal combustion engines to electric vehicles (EVs).
That said, the clean energy transition is happening so slowly that its impact on the platinum market is fairly subdued.
Platinum is also a necessary material in the production of hydrogen electrolysis and fuel-cell technologies.
“Hybrid vehicles and hydrogen-powered vehicles still require platinum for exhaust treatment systems or fuel cells. WPIC forecasts that by 2029, fuel-cell EVs will account for only about 3 percent of automotive platinum demand; however, this is still considered a positive contribution,” Tran explained via email.
Platinum is a primary catalyst used in proton exchange membrane (PEM) fuel cells and PEM electrolyzers. Both are electrochemical devices that are used for clean energy conversion, but fuel cells use hydrogen to generate electricity, while electrolyzers use electricity to produce hydrogen.
Both PEM fuel cells and electrolyzers “are key technologies in the clean-energy strategies of the United States, Europe, and China. According to estimates from WPIC and the (International Energy Agency), if hydrogen projects progress on schedule, global electrolyser capacity could expand significantly in the second half of this decade, driving platinum demand related to hydrogen higher than current levels,” wrote Tran.
Even as total demand for platinum is projected to fall by 5 percent to 7.82 million ounces in 2025, according to the WPIC, investment demand for platinum is expected to be up by 6 percent to 742,000 ounces.
Platinum is benefiting from the general trend toward safe-haven investment in precious metals as the Fed reverses its course monetary policy and moves toward lower interest rates.
With the gold price at record highs, investors are seeking out cheaper alternatives translating into rising inflows into platinum exchange-traded funds, and increased purchasing of physical bars and coins.
‘In terms of physical bar and coin demand, this year has been very much characterized by significant strength and demand out of China. So the Chinese market has just been growing basically from more or less zero back in 2019 to becoming the biggest market in the world for platinum investments products,’ said Sterck. ‘I think that momentum is likely to continue, but maybe not at quite the same sort of pace going into 2026.’
However, for 2026, the WPIC sees investment demand falling by 52 percent to 358,000 ounces, dampened by potential profit taking on the part of platinum exchange-traded fund (ETF) holders. Meanwhile, platinum bar and coin demand is expected to remain elevated, posting gains of 37 percent to 462,000 ounces.
Overall, the WPIC is forecasting total platinum demand to drop another 6 percent to 7.385 million ounces in 2026. This is still just slightly below the ten-year average, demonstrating the robust nature of demand for the metal.
More than 70 percent of the world’s total platinum mine supply comes from South Africa. The top platinum-mining countries are Zimbabwe (11 percent) and Russia (10 percent). Canada and the US round out the top five, but even together these two North American countries represent a mere 4 percent of global platinum production.
“This concentration makes the platinum market more vulnerable to mining disruptions or geopolitical risks in these countries,” stated Tran. “Throughout most of 2025, the supply and demand landscape for platinum has shifted significantly. Years of low prices placed considerable pressure on the mining sector, forcing companies to cut output, delay investments, or shut down operations with low profit margins. This led to a tightening of supply just as inventories declined after nearly three consecutive years of being drawn down by automakers to cover shortages.”
Refined production is expected to contract by 5 percent this year, at 5.51 million ounces compared to 5.77 million ounces in 2024. Platinum recycling will result in 1.619 million ounces of new supply in 2025, up 7 percent.
As such, platinum supply is forecast to decrease by 2 percent in 2025. According to the WPIC, it will come in at 7.404 million ounces. The organization notes that the resulting demand/supply imbalance is predicted to reach 692,000 ounces in 2025, representing a supply deficit for the third straight year.
“Demand for the metals constantly surpasses the supply. The situation becomes worse due to the tariffs, sanctions and supply disruptions,” said Murillo. While US President Donald Trump’s tariffs present a new wild card for many commodities markets, platinum included, South Africa’s power outages, heavy rain, increased mining costs and declining platinum grades also dragged down production of the metal in 2025.
For 2026, total platinum supply is set to reverse course and grow by 4 percent to 7.4 million ounces.
Although the WPIC has predicted a surplus of 20,000 ounces in 2026, that’s still way below the 1,083 surplus set in 2022 during COVID. Calling the surplus “tiny”, Sterck emphasized that this forecast is highly predicated on a number of factors, namely assumed profit-taking in ETFs, CME inventories and entrenched structural supply challenges.
“If you look at our numbers, we’re expecting 170,000 ounces of profit taking from ETFs in 2026, which is obviously going to be contingent in itself on a high platinum price. I would say that there is probably a bit of a risk associated with that outlook,” he said. “The second area where the surplus of 20,000 ounces is contingent on is on 150,000 ounces flowing out of CME exchange stock inventories and being made available to the market.”
Sterck explained that if these two assumed events do not materialize in 2026, then the platinum market will remain in “a quite substantial deficit of approaching 400,000 ounces.’
He also pointed out that higher platinum prices will not necessarily solve the issues that led to a shortage of above ground platinum stocks and a deep deficit for the past three years.
“The main thing we’re dealing with here is that these are deep level, underground mines for the most part, and they’re not mines that you can flex output from rapidly,” said Sterck.
“Realistically, mine supply is likely to be at or around current levels for the foreseeable future.”
Moving into 2026, some of the most consequential trends that could shape platinum prices include a shifting landscape for investment demand, continued mine supply constraints, and an economic slowdown.
“Altogether, high demand and supply deficit with international logistics problems make these metal prices go up. Both platinum and palladium were peaking throughout this year, reaching around US$1,700 per ounce. It’s important to understand that the supply deficit problem will not be solved overnight,” said B2Broker’s Murillo.
“So in 2026, the same situation might persist, and the prices will remain elevated at US$1,550 to US$1,670. If more supply shocks happen, they could even move up to US$2,340, but less likely.’
If safe-haven investment demand for alternatives to gold continues alongside persistent supply challenges in platinum, XS.com’s Tran sees platinum maintaining the US$1,800 per ounce range for 2026 with room to grow.
“In the medium term, the scenario of extending the rally toward around US$2,000 per ounce remains feasible, especially if the Fed maintains a dovish trajectory, capital flows continue rotating into metals beyond gold, and supply from South Africa does not recover more strongly than expected,” said Tran.
The expert cautioned that with platinum trading at multi-year highs and the market’s vulnerability to global economic fluctuations there is just as much potential for technical pullbacks.
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
More than a dozen politically exposed people and government officials’ names appear in the hundreds of thousands of pages of Jeffrey Epstein files made public Friday, sources said.
And Deputy Attorney General Todd Blanche said the DOJ discovered more than 1,200 victims and their families during the exhaustive review, explaining the process behind determining which files could be released in a letter to Congress exclusively obtained by Fox News Digital.
Sources told Fox News Digital that new photos of Epstein with former President Bill Clinton are part of the release.
The Justice Department redacted the names and identifiers of victims. Fox News Digital has learned that the same redaction standards were applied to politically exposed individuals and government officials.
Fox News Digital exclusively obtained a letter written by Blanche to members of the House of Representatives regarding Friday’s anticipated release of the files under the Epstein Files Transparency Act.
‘We write to notify you that today the Department of Justice is producing hundreds of thousands of pages of responsive materials in compliance with the Epstein Files Transparency Act,’ Blanche wrote.
‘Under the leadership of President Donald J. Trump and Attorney General Pam Bondi, this unprecedented disclosure highlights our commitment to following the law, being transparent, and protecting victims,’ Blanche continued, noting that the production of documents comes within the 30 days required under the law signed by the president.
‘This letter will summarize the Department’s historic efforts and disclose specific details regarding the review and production process,’ Blanche continued.
‘Never in American history has a President or the Department of Justice been this transparent with the American people about such a sensitive law enforcement matter,’ he added. ‘Democrat administrations in the past have refused to provide full details of the Jeffrey Epstein saga. But President Trump, Attorney General Pam Bondi, and FBI Director Patel are committed to providing full transparency consistent with the law.’
In November, the Epstein Files Transparency Act passed, requiring the government to release within 30 days all unclassified material in its possession related to Epstein’s and associate Ghislaine Maxwell’s sex trafficking cases.
President Donald Trump signed the bill into law in November.
The law allows the DOJ to omit or redact any references to victims and files that could jeopardize pending investigations or litigation, such as a probe Bondi recently opened in New York into Epstein’s ties to Democrats. Information could also be left out ‘in the interest of national defense or foreign policy,’ the law says.
Meanwhile, in the letter obtained by Fox News Digital, Blanche revealed that the Justice Department, through its sprawling internal process, learned of more than 1,200 victims.
‘This process resulted in over 1,200 names being identified as victims or their relatives,’ Blanche wrote. ‘We have redacted reference to such names. In addition to redacting the names of these victims, we have also redacted and are not producing any materials that could result in their identification.’
Blanche explained that ‘all unclassified records, documents, communications, and investigative materials that relate to: Jeffrey Epstein including all investigations, prosecutions, or custodial matters’ are being released.
Also being released are any records relating to ‘Ghislaine Maxwell; flight logs or travel records..for any aircraft, vessel, or vehicle owned, operated or used by Jeffrey Epstein or any related entity.’
The DOJ is releasing any records or documents with ‘individuals, including government officials, named or referenced in connection with Epstein’s criminal activities, civil settlements, immunity or plea agreements, or investigatory proceedings;’ as well as any ‘entities..with known or alleged ties to Epstein’s trafficking or financial networks.’
The documents will also reference ‘any immunity deals, non-prosecution agreements, plea bargains, or sealed settlements involving Epstein or his associates.’
The DOJ also is making public any ‘internal DOJ communications, including emails, memos, meeting notes, concerning decisions to charge, not charge, investigate, or decline to investigate Epstein or his associates,’ Blanche said.
The documents will also include ‘all communications, memorandum, directives, logs or metadata concerning the destruction, deletion, alteration, misplacement, or concealment of documents, recordings or electronic data related to Epstein, his associates, his detention and death, or any investigative files.’
Blanche also said that any ‘documentation of Epstein’s detention or death, including incident reports, witness interviews, medical examiner files, autopsy reports, and written records detailing the circumstances and cause of death’ will also be released.
Blanche said the DOJ is continuing to review additional documents and other items for ‘potential responsiveness.’
‘Just this week, one of the Department’s components provided additional victim information requiring updated review of materials, and in the last few weeks multiple courts have granted the Department’s unsealing motions, requiring detailed review of thousands of pages of investigative and grand jury material.’
Blanche pointed to a ruling in the Southern District of New York requiring ‘additional layers of review to minimize the risk of inadvertent production of protected victim information.’
‘We anticipate this ongoing review being completed over the next several weeks.’
Blanche explained that prior to the passage of the new Epstein law, the DOJ conducted ‘a thorough review, including digital searches of databases, hard drives, and network drives as well as searches of real and personal properties.’
‘This review did not reveal credible evidence that Epstein blackmailed prominent individuals, nor did it undercover evidence that could predicate an investigation against uncharged third parties,’ Blanche explained. He added that judges in the Southern District of Florida and the Southern District of New York have authorized the DOJ to produce materials ‘previously prohibited from production by protective orders and grand jury secrecy laws.’
Blanche explained that the review protocol instructed attorneys to redact or withhold material that contained personally identifiable information of victims; depicted or contained child sexual abuse materials…; would jeopardize an active investigation or prosecution; depicted images of death, physical abuse, or injury; and property classified national defense or foreign policy information.’
‘Protecting victims is of the highest priority for President Trump, the Attorney General, the Federal Bureau of Investigation, and the Department of Justice,’ Blanche wrote. ‘As part of the review and production, the Department solicited counsel for any victims of Jeffrey Epstein and invited counsel to provide us with names of victims, whether previously identified or not.
‘This process resulted in over 1,200 names being identified as victims or their relatives,’ Blanche wrote. ‘We have redacted reference to such names. In addition to redacting the names of these victims, we have also redacted and are not producing any materials that could result in their identification.’
Blanche said the Justice Department’s review team consisted of more than 200 DOJ attorneys working to determine whether materials were responsive under the Act and, if so, whether redactions or withholding was required.
The review had multiple layers, according to Blanche, including 187 attorneys from the DOJ’s National Security Division conducting a review of all items for responsiveness. Next, a quality control team of 25 attorneys conducted a second-level review to ensure that victims’ personal identifying information was properly redacted and that materials that should not be redacted were not marked for redaction.
Then, assistant U.S. attorneys from the Southern District of New York reviewed the responsive materials to confirm appropriate redactions.
‘The Department will continue to follow the Review Protocol and add to the public website materials that are responsive under the Act, and the Department will inform Congress when that review and production are complete by the end of this year,’ Blanche said.
‘The Department’s commitment to transparency, following the law, and protecting all victims under the leadership of President Trump, Attorney General Pam Bondi, and FBI Director Patel will never waver.’
Fox News’ Ashley Oliver contributed to this report.
The Justice Department posted thousands of pages related to Jeffrey Epstein’s and Ghislaine Maxwell’s sex-trafficking cases on a public website Friday and said additional documents were forthcoming.
The trove of documents was released under the Epstein Files Transparency Act, a law passed last month that imposed a 30-day deadline on the DOJ to publish all unclassified material related to the cases.
The files came from the DOJ, the FBI, the Southern District of New York and other entities, and they were expected to include public and nonpublic information about Epstein, a registered sex offender who faced charges of trafficking underage women before dying in prison in 2019 in what authorities said was a suicide.
The bill also required the DOJ to release flight logs, the DOJ’s internal communications about the cases, information on Epstein’s death and any material about people, government entities or companies with ties to Epstein’s ‘trafficking or financial networks.’
The documents included redactions and reasons for blocking out the information. The transparency bill gave the DOJ wide latitude to withhold information that could identify victims, child pornography and material that could jeopardize open investigations or litigation. The government could also leave out information ‘in the interest of national defense or foreign policy,’ the bill said.
Because President Donald Trump signed the bill into law on Nov. 19, the statutory deadline for release is Dec. 19.
The DOJ is already facing scrutiny for missing the cutoff date after Deputy Attorney General Todd Blanche said Friday’s documents were incomplete during an interview with Fox News.
Blanche said he expected the government to upload ‘several hundred thousand more’ pages in the coming couple of weeks. Senate Minority Leader Chuck Schumer, D-N.Y., warned that Democrats are ‘working closely with attorneys for the victims of Jeffrey Epstein and with outside legal experts’ to address the anticipated late files.
This is a breaking story. Check back for updates.
The Treasury Department announced new sanctions Friday that target seven family members and associates tied to Nicolás Maduro’s regime, which the Trump administration continues to put in its crosshairs.
The action, carried out by the Office of Foreign Assets Control (OFAC), seeks to address corruption and deceptive practices involving the Venezuelan state.
‘Today, Treasury sanctioned individuals who are propping up Nicolás Maduro’s rogue narco-state. We will not allow Venezuela to continue flooding our nation with deadly drugs,’ Secretary of the Treasury Scott Bessent said.
‘Maduro and his criminal accomplices threaten our hemisphere’s peace and stability. The Trump Administration will continue targeting the networks that prop up his illegitimate dictatorship.’
This builds on sanctions issued earlier this month, with the Treasury now targeting family networks, not just individuals. The Treasury release names the familial networks of Carlos Erik Malpica Flores (Malpica Flores) and Ramon Carretero Napolitano (Ramon Carretero).
The named and sanctioned individuals in the Treasury release include Eloisa Flores de Malpica, Malpica Flores’ mother and the sister of Cilia Flores; Carlos Evelio Malpica Torrealba, his father; Iriamni Malpica Flores, his sister; Damaris del Carmen Hurtado Perez, his wife; and Erica Patricia Malpica Hurtado, his adult daughter.
According to the Treasury Department, sanctions are not meant to punish indefinitely, and OFAC provides a formal process for petitioning removal.
The Trump administration has cut more than 600 rules and regulations in the past year, while only introducing five new ones in an effort to advance Trump’s deregulation priorities, Fox News Digital has learned.
Trump did not hesitate to take action to cut red tape as soon as he took office — after former President Joe Biden’s administration introduced hundreds of new rules every year during his term in the White House. As a result, Trump signed an executive order in January instructing federal agencies to eradicate 10 regulations for every new one implemented.
As a result, agencies submitted more than 1,300 proposals to OMB’s Office of Information and Regulatory Affairs (OIRA) in 2025 — resulting in a total of 646 deregulatory actions this fiscal year, according to the Office of Management and Budget (OMB).
Altogether, the deregulatory actions have amounted to $211.8 billion in net cost savings in fiscal year 2025, translating to more than $600 per American, according to OMB.
‘The Trump Administration’s deregulatory agenda is the most ambitious in American history,’ OMB Director Russ Vought said in a statement to Fox News Digital. ‘We have blown far past the target 10 to 1 deregulatory ratio in President Trump’s Executive Order, saving hundreds of billions for the American people.’
‘In less than one year we have already achieved more savings than in all four years of the prior Trump Administration, and we’re just getting started,’ Vought said.
Deregulatory actions that the Trump administration has taken this year include eliminating the requirement to remove shoes during Transportation Safety Administration (TSA) airport screenings — saving every passenger roughly two minutes going through TSA. Additionally, the Financial Crimes Enforcement Network (FinCEN) at the Department of the Treasury eliminated a rule for U.S. companies and individuals to report to the government personal informationrelated to business ownership.
The bulk of deregulatory actions taken occurred at the Department of the Treasury, the Department of Veterans Affairs, the Department of Transportation, the Department of Agriculture and the Department of Homeland Security.
Meanwhile, the Biden administration added between roughly 400 and nearly 800 rules each year — which were often coupled with additional regulations, according to a senior administration official.
Total regulatory costs imposed under the Biden administration snowballed and accumulated to $1.8 trillion during his term in the White House, according to the American Action Forum, a center-right policy institute.
Biden did not immediately respond to a request for comment from Fox News Digital.
Meanwhile, the Trump administration has come under scrutiny from Democrats and some Republicans for its deregulatory push.
Democrats opposed a proposal from Trump’s Labor Department to slash more than 60 workplace regulations that encompassed a host of issues, including minimum wage requirements to harmful substance exposure guidelines.
‘Donald Trump is betraying America’s workers by forcing people to choose between a paycheck and their safety,’ Democratic National Committee Chair Ken Martin said in a statement in July. ‘Slashing basic protections like standards to ensure roofs don’t collapse, minimum wage for home health care workers, and proper lighting in a construction site won’t make workers safer or small businesses stronger — it will just make greedy corporations richer.’
The Wisconsin Institute for Law and Liberty (WILL), a conservative legal group, is requesting the Trump administration remove race from the Centers for Disease Control and Prevention’s (CDC) ‘Social Vulnerability Index,’ which the groups claim is being used by liberal localities to steer funds to communities based on race.
WILL refers to what has been taking place as ‘DEI redlining’ in its letter to Trump administration officials at the CDC and the Health and Human Services Department (HHS). It says the tool helps localities prioritize Black and Hispanic neighborhoods over White neighborhoods due to racial composition, independent of any other factors, like poverty.
‘In the name of ‘racial equity,’ local officials prioritize certain geographic areas for public safety, parks improvements, public swimming pool closures, broadband access, safe drinking water, and disaster assistance,’ the letter to HHS Secretary Robert F. Kennedy Jr. and CDC Acting Director Jim O’Neill stated. ‘And these governments point to CDC’s SVI as the reason for their race-based spending.’
Among various examples the group highlights is Milwaukee, Wisconsin’s county parks department, which states on their website that the Milwaukee Parks Foundation ‘works to reduce or eliminate racial disparities through investments and activation of park spaces that rank high on the Milwaukee County Park’s Equity Index.’
Meanwhile, an inter-office communication from 2024 obtained by WILL, updating officials on the ‘Parks Equity Index,’ the Milwaukee Parks Foundation points out that ‘the CDC’s Social Vulnerability Index’ is part of its ‘weighted composite data analysis’ meant to help streamline decision-making within the department.
‘In other words, parks in white neighborhoods are de-prioritized, while parks in non-white neighborhoods are prioritized,’ WILL argues in its letter to HHS and the CDC.
To show the real life consequences of this, the conservative law group pointed to a community pool that has been closed for the past few years in a local town that is 90% White. According to local media reports, the pool needs about $600,000 in repairs, but WILL said those will likely never come to fruition, since the community ranks low on the parks department’s ‘Racial equity Index.’
Milwaukee County Parks Department came out with a study indicating it was considering shutting down the pool or transferring it to be run through a public-private partnership similar to other pools in the area, according to local outlet Urban Milwaukee.
‘According to Milwaukee County, Hales Corners ranks 128 out of 153 parks in Milwaukee County, with a 3 out of 10 score and a 0.33 SVI score. So the kids and families in Hales Corners will lose their swimming pool, which has been a community fixture since 1968, because the residents are too white,’ WILL argued in their letter. ‘Race-based SVI encourages the use of race for its own sake, or at best, as a proxy for other elements already accounted for within the SVI.’
Fox News Digital reached out to the Milwaukee Parks Department for comment but did not receive a response in time for publication.
WILL pointed to numerous examples of case law determining such activities are unconstitutional, including the recent Students for Fair Admission case that resulted in an overhaul of affirmative action rules in higher education.
Besides Milwaukee, WILL highlighted examples from California’s Community Development Block Program, run by the state’s Department of Housing and Community Development, which the conservative law group alleges is using the CDC’s SVI index to help prepare for, and respond to, natural disasters. Connecticut’s ‘Drinking Water State Revolving Fund,’ which helps maintain public water systems and assigns a ‘Social Vulnerability Index score’ to each project, was listed as well.
Cook County, in Chicago, was also among those listed. Their ‘Comprehensive Broadband Planning Initiative’ says explicitly on its website that it ‘prioritizes communities with the highest Social Vulnerability Index (SVI) in Illinois.’
/NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA/
Freegold Ventures Limited (TSX: FVL,OTC:FGOVF) (OTCQX: FGOVF) (the ‘Company’ or ‘Freegold Ventures’), is pleased to announce that, as a result of strong investor demand, the Company has increased the size of its previously announced brokered ‘best efforts’ private placement financing (as upsized, the ‘Offering’) to up to 38,461,500 common shares of the Company (the ‘Common Shares’) at a price of $1.30 per Common Share. The Offering will now be upsized for aggregate gross proceeds of up to $49,999,950 from $30,000,100, as was previously announced in the Company’s news release dated December 18, 2025.
Paradigm Capital Inc. (‘Paradigm‘) is acting as lead agent and sole bookrunner under the Offering on behalf of a syndicate of agents (together with Paradigm, the ‘Agents‘). In connection with the Offering, the Company will no longer be granting the Agents an option to sell up to that number of additional Common Shares equal to 15% of the base Offering size, as was previously announced in the Company’s news release dated December 18, 2025, so as not to exceed capital raising limits under the Listing Issuer Financing Exemption (as defined below).
The net proceeds from the Offering will be used to complete a Pre-Feasibility Study for the Golden Summit Project, to support ongoing exploration, and for general corporate and working capital purposes. Management believes that these funds will further strengthen the Company’s ability to advance the Golden Summit Project as it moves the project through the pre-feasibility stage.
The Common Shares will be offered for sale pursuant to Part 5A of National Instrument 45-106 – Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the ‘Listed Issuer Financing Exemption‘), to purchasers resident in each of the provinces of Canada (other than Québec), and in other qualifying jurisdictions outside of Canada that are mutually agreed to by the Company and the Agents pursuant to relevant prospectus or registration exemptions in accordance with applicable laws. As the Offering is being completed pursuant to the Listed Issuer Financing Exemption, the Common Shares issued in the Offering will not be subject to a hold period in Canada pursuant to applicable Canadian securities laws.
There is an amended and restated offering document related to this Offering that can be accessed under the Company’s profile at www.sedarplus.ca and on the Company’s website at www.freegoldventures.com. Prospective investors should read this offering document before making an investment decision.
The Offering is expected to close on or about January 6, 2026 (the ‘Closing Date‘) and will be subject to regulatory approvals and customary closing conditions, including listing of the Common Shares on the Toronto Stock Exchange.
The Agents will be entitled to, on the Closing Date, a cash commission equal to 5% of the gross proceeds of the Offering.
The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the ‘U.S. Securities Act‘), or any U.S. state securities laws, and may not be offered or sold in the United States without registration under the U.S. Securities Act and all applicable state securities laws or compliance with the requirements of an applicable exemption therefrom. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor may there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Freegold Ventures Limited
Freegold Ventures is a TSX-listed company focused on exploration in Alaska.
Forward-looking Information Cautionary Statement
This press release contains statements that constitute ‘forward-looking information’ (collectively, ‘forward-looking statements’) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this press release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as ‘expects’, or ‘does not expect’, ‘is expected’, ‘anticipates’ or ‘does not anticipate’, ‘plans’, ‘budget’, ‘scheduled’, ‘forecasts’, ‘estimates’, ‘believes’ or ‘intends’ or variations of such words and phrases or stating that certain actions, events or results ‘may’ or ‘could’, ‘would’, ‘might’ or ‘will’ be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements contained in this press release, include, without limitation, statements regarding the receipt of TSX final approval for the Offering and the use of proceeds from the Offering. In making the forward-looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and unknown risks, uncertainties, and other factors may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: availability of financing; delay or failure to receive required permits or regulatory approvals; and general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise. See Freegold’s Annual Information Form for the year ended December 31, 2024, filed under Freegold’s profile at www.sedarplus.ca, for a detailed discussion of the risk factors associated with Freegold’s operation
SOURCE Freegold Ventures Limited
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Denison Mines (TSX:DML,NYSEAMERICAN:DNN) has closed a previously announced deal with Skyharbour Resources (TSXV:SYH,OTCQX:SYHBF) that repurposes a large block of uranium exploration ground surrounding Denison’s flagship Wheeler River project in Northern Saskatchewan.
The recent transaction formalizes the division of Skyharbour’s former Russell Lake uranium project into four separate joint ventures positioned directly adjacent to, or proximal to, Wheeler River.
The structure is intended to promote closer technical collaboration between the two companies while advancing exploration across claims that sit along the same geological corridors as Denison’s advanced-stage development assets.
Under the new arrangements, Denison will operate the Wheeler North and Wheeler River Inliers joint ventures, holding ownership interests of 49 percent and 70 percent, respectively.
Skyharbour will operate the Russell Lake and Getty East joint ventures, in which Denison holds respective minority interests of 20 percent and 30 percent. In addition, Denison has secured earn-in option agreements that allow it to increase its ownership in both Wheeler North and Getty East to as much as 70 percent, subject to future conditions.
The claims involved were previously consolidated under Skyharbour’s Russell Lake project, which borders Denison’s Wheeler River property. The deal strengthens Denison’s already-dominant position around Wheeler River, which is the largest undeveloped uranium project in the infrastructure-rich Eastern Athabasca Basin.
Denison holds an effective 95 percent interest in Wheeler River, which hosts the Phoenix and Gryphon deposits.
A feasibility study completed in 2023 outlines Phoenix as an in-situ recovery operation, while an updated study for Gryphon evaluates conventional underground mining.
Both deposits are expected to rank among the lowest-cost uranium operations globally, based on those studies.
Regulatory momentum continues to move forward at Wheeler River.
The project’s environmental assessment received provincial approval from Saskatchewan in July 2025, and federal review has advanced with the conclusion of the Canadian Nuclear Safety Commission’s public hearing in December.
Beyond Wheeler River, Denison maintains a broad portfolio across the Athabasca Basin, including interests in the McClean Lake joint venture, as well as stakes in the Midwest, Tthe Heldeth Túé and Huskie deposits.
For Skyharbour, the transaction allows it to remain an active operator on key exploration assets near Wheeler River while continuing to advance its broader Athabasca Basin portfolio.
Skyharbour holds interests in 37 uranium projects covering more than 616,000 hectares, including the Moore uranium project, located east of Wheeler River, and the remaining Russell Lake ground now organized under joint venture structures.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Evita Duffy-Alfonso, a daughter of Transportation Secretary Sean Duffy, called for the abolition of the Transportation Security Administration (TSA) on Thursday, asserting that she had been treated poorly by agents and endured an ‘absurdly invasive pat-down.’
‘TSA = unreasonable, warrantless searches of passengers and their property. That means it violates the Fourth Amendment and is therefore unconstitutional. Pls abolish,’ she wrote in a post on X, tagging President Donald Trump and Department of Homeland Security (DHS) Secretary Kristi Noem.
In another post, she explained her negative experience.
‘I nearly missed my flight this morning after the TSA made me wait 15 minutes for a pat-down because I’m pregnant and didn’t feel like getting radiation exposure from their body scanner. The agents were passive-aggressive, rude, and tried to pressure me and another pregnant woman into just walking through the scanner because it’s ‘safe.’ After finally getting the absurdly invasive pat-down, I barely made my flight. All this for an unconstitutional agency that isn’t even good at its job,’ Duffy-Alfonso wrote in a post on X.
‘Perhaps things would have gone more smoothly if I’d handed over my biometric data to a random private company (CLEAR). Then I could enjoy the special privilege of waiting in a shorter line to be treated like a terrorist in my own country. Is this freedom? Travel, brought to you by George Orwell — and the privilege of convenience based solely on your willingness to surrender biometric data and submit to radiation exposure? The ‘golden age of transportation’ cannot begin until the TSA is gone,’ she added.
In a statement provided to Fox News Digital, the TSA noted, ‘We are aware of the incident in question. TSA takes complaints about airport security screening procedures seriously and investigates complaints thoroughly to ensure the correct procedures are applied.’
Fox News Digital reached out to the Department of Homeland Security and the Department of Transportation for comment.
Duffy-Alfonso noted in another post that the TSA falls ‘under DHS,’ which is lead by Noem, but asserted that if the TSA were under her father’s purview, ‘he’d radically limit it and lobby Congress to abolish it.’
‘To be clear, I am 100% behind all that @POTUS & @DHS has done to keep out terrorists and illegals, especially at the border. In fact, President Trump & @Sec_Noem aren’t getting enough credit for achieving zero illegal border crossings and stopping deranged terrorists from coming into the U.S.,’ Duffy-Alfonso wrote in another post on X.
‘But there needs to be more common sense around how we treat Americans exercising their right to travel. And I hope TSA works on improving their treatment of expectant mothers who don’t want to go through body scanners to protect their unborn children. We can do both,’ she added.
Her husband, Michael Alfonso, is running for U.S. Congress in Wisconsin.
Duffy-Alfonso’s mother, Rachel Campos-Duffy, is ‘FOX & Friends Weekend’ co-host.