GTI Energy (GTR:AU) has announced Drilling Planned to Update & Grow Lo Herma Resource
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China has moved to ease its export chokehold on rare earths, with its Ministry of Commerce announcing over the weekend that it will establish a “green channel” to fast track rare earths export licenses to select EU firms.
The announcement follows high-level trade talks in Paris between Chinese Minister of Commerce Wang Wentao and European Commission Vice President and Trade Commissioner Maroš Šefčovič, CNBC reported.
A ministry spokesperson stated that China hopes the EU will take “reciprocal steps” to promote “compliant trade of high-tech products with China.” The diplomatic overture also extends to US firms.
According to Reuters, China has quietly granted export licenses to suppliers working with American auto giants General Motors (NYSE:GM), Ford (NYSE:F) and Stellantis (NYSE:STLA) — manufacturer of Jeep, Dodge, Fiat and Peugeot.
The rare earth sreprieve could not come soon enough for the auto industry. Following China’s April imposition of export restrictions on several critical rare earth elements — used in everything from electric motors to fuel injectors — industry groups warned that stockpiles were dwindling rapidly, with risks of assembly line stoppages looming.
Jonathan O’Riordan, international trade director at the European Automobile Manufacturers’ Association (ACEA), told CNBC on Monday (June 9), “We’re gradually coming into a very, very critical moment whereby those stocks are now being exhausted, and we are potentially going to see production stoppages.” The ACEA had expressed alarm over licensing delays, saying applications had been taking a “significant” amount of time to process since the April restrictions came into force.
The European Association of Automotive Suppliers echoed the same concerns last week, reporting that several plants had already shut down due to Beijing’s export controls, with more disruptions anticipated in the coming weeks.
A global leverage game
The backdrop to this rare earths standoff is China’s overwhelming dominance in the critical minerals supply chain.
The country produces roughly 60 percent of the world’s rare earth elements and accounts for about 70 percent of US rare earths imports. These minerals — used in smartphones, wind turbines, and even military fighter jets — are increasingly seen as geopolitical assets in the global transition to clean energy and high-tech manufacturing.
The leverage is already being felt in the numbers. According to data released by China’s General Administration of Customs, the value of rare earths exports in May plummeted 48.3 percent year-on-year to US$18.7 million.
Export volumes fell to 5,864.6 metric tons, down 5.67 percent compared to the same month last year.
That decline ended three consecutive months of year-on-year growth and showed the real-world effects of China’s tightening export controls, which have remained in place even after Beijing agreed during talks with Washington last month to “suspend or remove” non-tariff countermeasures imposed since April 2.
Still, total rare earths exports for the first five months of 2025 were up 2.3 percent compared to the same period last year, suggesting that while value has plummeted, some shipments are still getting through under stricter oversight.
The Ministry of Commerce reiterated that it has approved export applications for qualified entities and expressed willingness to “communicate over export controls with relevant countries to facilitate compliant trade,” hinting at a more conciliatory approach ahead of another round of US-China trade negotiations.
Supply diversification still key
Despite the temporary relief, western automakers and their governments face a more fundamental challenge: diversifying away from China’s stranglehold on rare earths. Europe in particular has recognized the urgency. EU policymakers have pushed to accelerate domestic mining projects and build up strategic reserves.
But such efforts are years away from producing material results, leaving automakers vulnerable in the short term.
With that in mind, industry leaders are warning that without rapid progress on alternative supply chains, future geopolitical shocks could cause even greater disruption.
For now, China’s “green channel” offers a pause — but not a solution.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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More than 100 Democrats voted against a House GOP-led resolution to condemn the accused terror attack in Boulder, Colorado.
It passed 280-113, with 75 Democrats joining Republicans to vote for the bill. Six lawmakers, five Democrats and one Republican, voted ‘present.’
The legislation was introduced by Rep. Gabe Evans, R-Colo., last week in response to the attack. But Democrat lawmakers made clear they were opposed to language in the resolution that they felt was politically charged.
In addition to condemning the attack, Evans’ resolution also appeared to rebuke blue-leaning sanctuary jurisdictions that were at odds with federal immigration authorities, and he condemned illegal immigrants who overstay their visas as well.
A second bill, led by Reps. Jeff Van Drew, R-N.J., and Joe Neguse, D-Colo., more broadly condemned the rise in antisemitic attacks in the U.S. That legislation netted much wider bipartisan support, passing 400-0, with just two lawmakers voting ‘present.’
But Evans’ resolution more specifically noted that the case of terror suspect Mohammed Sabry Soliman, who overstayed a tourist visa and a subsequent work authorization, ‘demonstrates the dangers of not removing from the country aliens who fail to comply with the terms of their visas.’
The Egyptian national is facing federal charges after allegedly attempting to set fire to peaceful demonstrators who were protesting Hamas’ continued possession of Israeli hostages in Gaza.
The Trump administration has vowed that he and his family will be deported from the U.S.
Evans’ resolution also ‘affirms that free and open communication between State and local law enforcement and their Federal counterparts remains the bedrock of public safety and is necessary in preventing terrorist attacks’ and it ‘expresses gratitude to law enforcement officers, including U.S. Immigration and Customs Enforcement personnel, for protecting the homeland.’
It comes as Democrat-controlled cities like Los Angeles and Nashville, Tennessee, have seen their leaders criticize the Trump administration’s ICE crackdown.
The Trump administration’s handling of anti-ICE riots in Los Angeles has spurred an outpouring of scorn from Democrat officials, particularly the decision to send National Guard troops in to break up the demonstrations.
House Minority Leader Hakeem Jeffries, D-N.Y., criticized Evans’ resolution in comments to reporters on Monday.
‘Who is this guy? He’s not seriously concerned with combating antisemitism in America. This is not a serious effort,’ Jeffries said. ‘Antisemitism is a scourge on America. It shouldn’t be weaponized politically.’
Jeffries also called Evans ‘a joke.’
Evans responded on X, ‘I served our nation in uniform in the Middle East, as a cop in Colorado, & now as a Congressman. This wildly offensive sentiment from Democrat’s Leader is why antisemitism persists. The Left is unserious about finding real solutions.’
Rep. Dan Goldman, D-N.Y., who is Jewish, also criticized Evans’ resolution.
‘You weren’t here, Mr. Evans, last term, but there were about 10 antisemitism resolutions that effectively said the same thing solely to score political points. We Jews are sick and tired of being used as pawns,’ Goldman said during debate on the bill.
But Van Drew, who is leading a bipartisan resolution that similarly condemns antisemitism but does not discuss immigration, defended Evans’ measure.
‘Yes, it is different than mine. Mine focused purely on antisemitism here in the world. But he brings up a valid point not only for Jews, but for many innocent victims. Whether it was Laken Riley, whether it was the women that were raped, the women and men that were killed, those that were beaten, those that were hurt, who were in law enforcement. Illegal immigration is not a good thing,’ Van Drew said.
The two lawmakers who voted ‘present’ on Van Drew’s resolution were Reps. Rashida Tlaib, D-Mich., and Marjorie Taylor Greene, R-Ga.
Greene wrote on X after the vote, ‘Antisemitic hate crimes are wrong, but so are all hate crimes. Yet Congress never votes on hate crimes committed against white people, Christians, men, the homeless, or countless others. Tonight, the House passed two more antisemitism-related resolutions, the 20th and 21st I’ve voted on since taking office. Meanwhile, Americans from every background are being murdered — even in the womb — and Congress stays silent.’
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President Trump’s relationship with Tesla and SpaceX CEO Elon Musk, which appeared to publicly blow up last week as the two feuded in public, took a softer tone on Monday when Musk responded to a clip of the president on X.
‘We had a great relationship and I wish him well — very well, actually,’ Trump said on Monday in a clip that was posted by conservative influencer ALX.
Musk responded to that post with a heart emoji on Monday evening.
Earlier in the day, Fox News Digital reported that the public spat between the two billionaires appeared to be losing steam after Musk seemingly issued support from Trump’s handling of the anti-ICE riots in Los Angeles.
‘Governor Gavin Newscum and ‘Mayor’ Bass should apologize to the people of Los Angeles for the absolutely horrible job that they’ve done, and this now includes the ongoing L.A. riots,’ Trump said late Sunday in the post Musk shared. ‘These are not protesters, they are troublemakers and insurrectionists.’
Additionally, Musk also re-posted one of Vice President JD Vance’s posts on X about the riots.
‘This moment calls for decisive leadership,’ Vance said, sharing a screenshot of a post from Trump about how his administration would address the riots. ‘The president will not tolerate rioting and violence.’
Musk also appeared to post a self-deprecating joke about himself on X on Sunday which many interpreted to be a veiled reference to the fallout with Trump.
‘It’s outrageous how much character assassination has been directed at me, especially by me!’ Musk posted.
While speaking with reporters in the Oval Office on Thursday, Trump said that he was ‘very disappointed’ by Musk’s vocal criticisms of the bill. The president claimed that Musk knew what was in the bill and ‘had no problem’ with it until the EV incentives had to be cut.
On X, Musk called that assessment ‘false.’
Trump turned to social media to criticize Musk, who he appointed to find ways to cut $2 trillion after forming the Department of Government Efficiency (DOGE).
‘Elon was ‘wearing thin,’ I asked him to leave, I took away his EV Mandate that forced everyone to buy Electric Cars that nobody else wanted (that he knew for months I was going to do!), and he just went CRAZY!’ Trump said in one post.
In another post, Trump said, ‘I don’t mind Elon turning against me, but he should have done so months ago. This is one of the Greatest Bills ever presented to Congress. It’s a Record Cut in Expenses, $1.6 Trillion Dollars, and the Biggest Tax Cut ever given.’
‘If this Bill doesn’t pass, there will be a 68% tax increase, and things far worse than that. I didn’t create this mess, I’m just here to FIX IT. This puts our Country on a Path of Greatness. MAKE AMERICA GREAT AGAIN!’
At one point, Musk referenced late pedophile Jeffrey Epstein in relation to Trump as part of the larger tirade in a comment that several Republicans told Fox News Digital went ‘too far.’
Musk deleted that post days later.
Other posts from Musk included a claim that Trump would not have won the election without his help while accusing Trump of ‘ingratitude.’ In another post, Musk suggested that Trump should be impeached and replaced by Vice President Vance.
Trump told Fox News on Friday that he isn’t interested in talking to Musk, adding that ‘Elon’s totally lost it.’
Trump also said to Fox News’ Bret Baier that he isn’t worried about Musk’s suggestion to form a new political party, citing favorable polls and strong support from Republicans on Capitol Hill.
Fox News Digital’s Diana Stancy contributed to this report
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Mario Innecco, who runs the maneco64 YouTube channel, discusses the factors driving gold and silver prices right now, explaining what makes him bullish moving forward.
He also points to the growing role China is set to play for both of these precious metals.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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House Homeland Security Committee Chairman Mark Green, R-Tenn., is departing Capitol Hill early, he announced on Monday.
Green said he is leaving Congress for the private sector after the House votes again on President Donald Trump’s ‘big, beautiful bill’ in the coming weeks, in a statement first obtained by Fox News Digital.
‘It is with a heavy heart that I announce my retirement from Congress. Recently, I was offered an opportunity in the private sector that was too exciting to pass up. As a result, today I notified the Speaker and the House of Representatives that I will resign from Congress as soon as the House votes once again on the reconciliation package,’ Green said.
He called serving Tennessee’s 7th Congressional District ‘the honor of a lifetime.’
‘They asked me to deliver on the conservative values and principles we all hold dear, and I did my level best to do so. Along the way, we passed historic tax cuts, worked with President Trump to secure the border, and defended innocent life. I am extremely proud of my work as Chairman of the Homeland Security Committee, and want to thank my staff, both in my seventh district office, as well as the professional staff on that committee,’ Green said.
Green acknowledged in his statement that he had previously geared up to retire in the last Congress, but reversed course.
‘Though I planned to retire at the end of the previous Congress, I stayed to ensure that President Trump’s border security measures and priorities make it through Congress,’ he said.
‘By overseeing the border security portion of the reconciliation package, I have done that. After that, I will retire, and there will be a special election to replace me.’
Green is an Army veteran who has served in Congress since 2019.
As House Homeland Security Committee chairman, he oversaw Republicans’ impeachment of former Biden administration DHS Secretary Alejandro Mayorkas.
It’s not clear where in the private sector Green will go, but it’s a safe bet to assume his House seat will stay in Republican hands.
The district voted for President Donald Trump by more than 20 percentage points over former Vice President Kamala Harris last year.
Republican leaders are hoping to complete consideration of Trump’s massive agenda bill by the Fourth of July or shortly thereafter.
The bill passed the House in a narrow 215-214 vote, and it is now being considered by the Senate. If the Senate changes the bill, as expected, the House will have to approve that version before it hits Trump’s desk.
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Walker Lane Resources Ltd. (TSX-V: WLR, ‘Walker Lane’) announces that it has received approval from the TSX Venture Exchange on its option agreements on three mineral properties (i.e., Tule Canyon, Cambridge and Silver Mountain see location map Figure 1) located in the prolific Walker Lane Gold Trend of western Nevada.
The original property agreements in the form of letters of intent (‘LOI’), were signed with CMC Metals Ltd. now operating as Walker Lane Resources Ltd. and trading under the symbol ‘WLR’ on the TSX Venture Exchange. The LOI’s were restated on May 12, 2025 by WLR, Silver Range Resources and in the instance of the Cambridge Property LOI also including Auburn Mining and supersede the previous agreements of March 8, 2025 for Tule canyon LOI and March 10, 2025 for the Cambridge and Silver Mountain LOI’s. The parties intend for the May 12, 2025 Restated Letters of Intent to be replaced by Definitive Agreements formalizing the option arrangements on or before June 30, 2025, with the effective date of such Definitive Agreements being the date of the respective LOI.
Tule Canyon Property
The Tule Canyon Property consists of sixty (60) federal lode mining claims, located in Esmeralda County, Nevada, United States of America. Tule Canyon is a mesothermal high- grade gold and silver target with two former mines and numerous showings and old workings along a 5km structural corridor.
Silver Range and WLR have executed a Letter of Intent (‘LOI’) granting WLR the option to acquire 100% of the Tule Canyon Property (‘Tule Canyon’). WLR has a first option to acquire 80% of Tule Canyon by paying Silver Range an aggregate $480,000 over four years (all amounts in United States currency) and completing 1,500 meters of diamond drilling by March 8, 2028. A second option to acquire the remaining 20% of Tule Canyon may be exercised by WLR identifying a National Instrument 43-101 compliant measured or indicated resource at Tule Canyon (the ‘Tule Resource’) by the end of 2033.
The specific terms of the transaction are as follows:
Subject to the Royalty (as defined below), Silver Range hereby grants Walker Lane an irrevocable option to acquire an eighty percent (80%) interest in the Tule Canyon Property (the ‘Option’) to be exercisable by Walker Lane through periodic payments of $480,000 in the aggregate, as set out below:
First Option
Cash Securities, Exploration, and/ or Other Work Commitments
- Signing of the LOI $20,000
- Signing of the Definitive Agreement $20,000
- Year 1 anniversary $40,000
- Year 2 anniversary $75,000 (1)
- Year 3 anniversary $100,000 (1)
- Completing not less than an aggregate 1,500 metres of diamond drilling on the Tule Canyon Property on or before the 3rd anniversary.
- Year 4 anniversary $225,000 (1)
(1) Up to half of the cash payments may be satisfied through the issuance of common shares of Walker Lane and the price shall be issued at the greater of:
(i) $0.21;
(ii) the volume weighted average trading price of the Walker Lane shares for the twenty trading days immediately prior to the earlier of the date of which any such shares are issued to Silver Range;
(iii) if the price of the Walker Lane shares is less than $0.21 at the time the payment is due and owing to Silver Range, the full amount of such payment shall be satisfied by way of a cash payment. For greater certainty, if the price of Walker Lane shares is less than $0.21 at the time the payment is due and owing to Silver Range, the full amount of such payment shall be satisfied by way of cash payment;
(iv) Notwithstanding the aforementioned sections hereof, Walker Lane shall not be entitled to issue Walker Lane shares to Silver Range as partial payment where the issuance of such shares will result in Silver Range holding an aggregate of greater than 19.9% of the issued share capital of Walker Lane as a result of such share issuance; and,
(v) The balance of any payment owing to Silver Range shall be made in cash where the provisions of Section (v) become operative.
(2) the anniversary date to be applied is May 12 of each applicable year.
The cash payment of $20,000 due at signing of the LOI has been issued to Walker Lane Resources Ltd.
Second Option
(i) Upon the exercise of the First Option, Silver Range, shall grant to Walker Lane an irrevocable option to obtain an additional twenty percent (20%) interest in the Tule Canyon Property (the ‘Second Option’). In order to exercise the Second Option, Walker Lane shall be required to complete a National Instrument 43-101 compliant report identifying a measured or indicated resource on the Tule Canyon Property (the ‘Resource Report’) at any time on or before December 31, 2033.
(ii) For greater certainty, the measured or indicated resource as contained in the Resource Report shall be calculated in accordance with the definitions for mineral resources, mineral reserves, and mining studies used by the Canadian Institute of Mining, Metallurgy and Petroleum.
Royalty and Buy-Back Option
(i) At the time the Second Option is exercised, Silver Range shall be deemed to have retained a two and one-half percent (2.5%) net smelter return royalty interest in any and all future proceeds from commercial production of all commodities from the Tule Canyon Property (the ‘Royalty’).
(ii) At any time after the exercise of the Second Option and prior to the commencement of commercial production from any mine on the Tule Canyon Property, Walker Lane shall have the irrevocable right to purchase up to sixty percent (60%) of the Royalty. Walker Lane shall have the right to purchase up to sixty percent (60%) in a single transaction or in a number of transactions of not less than twenty percent (20%) of the Royalty in each transaction.
(iii) The purchase price to be paid to Silver Range for the purchase of each twenty percent (20%) interest in the Royalty pursuant to paragraph (ii) above shall be $500,000. For greater certainty, sixty percent (60%) of the Royalty as set out in paragraph (ii), represents a one and one-half percent (1.5%) interest in net smelter returns from commercial production on the Tule Canyon Property and will have an aggregate purchase price of $1,500,000.
Milestone Payment
(i) In addition to the Royalty, Silver Range shall be entitled to a one-time cash payment of $10.00 per ounce of gold (or the equivalent value in other metals and minerals) contained in any measured or indicated mineral resource identified on the Tule Canyon Property as contained in the Resource Report (the ‘Milestone Payment’).
(ii) The Milestone Payment shall be paid to Silver Range within six months of the completion date of the Resource Report.
Cambridge Property
The Cambridge Property is comprised of an aggregate 51 federal lode claims, consisting of three adjoining blocks of mining claims, all located in Lyon County, Nevada, United States of America. The three claim blocks comprising the property are: (i) the Cambridge claims; (ii) the JC claims; and (iii) the Enigma claims.
Silver Range, Auburn Gold Mining LLC (‘Auburn’) and WLR have executed a LOI granting WLR the option to acquire 100% of the Cambridge Property (‘Cambridge’). WLR has a first option to acquire 75% of Cambridge for total consideration of $460,000 over four years, incurring $1,500,000 in exploration expenditures and completing 1,500 meters of diamond drilling on the property. A second option to acquire the remaining 25% of the property can be exercised by WLR making an additional aggregate $75,000 to Silver Range and Auburn and by identifying a National Instrument 43-101 compliant measured or indicated resource at Cambridge (the ‘Cambridge Resource’) by the end of 2033.
The specific terms of the transaction are as follows:
First Option
Cash Securities (on the basis of 50% – Silver Range 50% – Auburn Exploration) and/or Other Work Commitments
- Upon TSX Venture Exchange approval of the LOI $10,000* to both Silver Range and Auburn;
- Signing of the Definitive Agreement $10,000 to both Silver Range and Auburn;
- Year 1 anniversary $10,000 payment to both Silver Range and Auburn
- Year 2 anniversary $40,000 (1) payment to both Silver Range and Auburn
- Year 3 anniversary $50,000 (1) to both Silver Range and Auburn
- Year 4 anniversary $110,000 (1) to both Silver Range and Auburn
- Incurring an aggregate of $1,500,000 in exploration expenditures on the Cambridge Property, including the completion of not less than an aggregate 1,500 metres of diamond drilling on the Property.
(1) One-half of the cash payments may be satisfied through the issuance of Walker Lane shares to Silver Range and Auburn. The price of which any Walker Lane shares issued to Silver Range and Auburn shall be issued at the greater of:
(i) $0.21;
(ii) the volume weighted average trading price of the Walker Lane shares for the twenty trading days immediately prior to the earlier of the date of which any such shares are issued to Silver Range and Auburn;
(iii) if the price of the Walker Lane shares is less than $0.21 at the time the payment is due and owing to Silver Range and Auburn, the full amount of such payment shall be satisfied by way of a cash payment. For greater certainty, if the price of Walker Lane shares is less than $0.21 at the time the payment is due and owing to Silver Range, the full amount of such payment shall be satisfied by way of cash payment;
(iv) Notwithstanding the aforementioned sections hereof, Walker Lane shall not be entitled to issue Walker Lane shares to Silver Range as partial payment where the issuance of such shares will result in Silver Range holding an aggregate of greater than 19.9% of the issued share capital of Walker Lane as a result of such share issuance; and,
(v) The balance of any payment owing to Silver Range shall be made in cash where the provisions of Section (v) become operative.(2) the anniversary date to be applied is May 12 of each applicable year.
The cash payments of $10,000 to Silver Range Resources and Auburn Mining due at approval of the LOI by the TSX Venture Exchange are now being issued.
Second Option
Second Option Upon the exercise of the First Option, Silver Range and Auburn shall grant to Walker Lane an irrevocable option, but not an obligation, to acquire an additional twenty-five percent (25%) interest in the Cambridge Property (the ‘Second Option’), to be exercisable by Walker Lane as follows:
(i) Completing a National Instrument 43-101 compliant report identifying a measured or indicated resource on the Cambridge Property (the ‘Resource Report’) at any time on or before December 31, 2033;
(ii) Paying each of Silver Range and Auburn $75,000 within ten (10) days of the completion of the Resource Report; and
(iii) The measured or indicated resource as contained in the Resource Report shall be calculated in accordance with the definitions for mineral resources, mineral reserves, and mining studies used by the Canadian Institute of Mining, Metallurgy and Petroleum.
Royalty and Buy-Back Option
(i) At the time the Second Option is exercised, Silver Range shall be deemed to have retained a one and one-half percent (1.5%) net smelter return royalty interest in any and all future proceeds from commercial production from the Cambridge Property (the ‘Silver Range Royalty’).
(ii) At the time the Second Option is exercised, Auburn shall be deemed to have retained a one percent (1.0%) net smelter return royalty interest in any and all future proceeds from commercial production from the Cambridge Property (the ‘Auburn Royalty’).
(iii) At any time prior to the commencement of commercial production from a mine on the Cambridge Property, Walker Lane shall have the irrevocable right to purchase up to two-thirds (66.67%) of the Silver Range Royalty. For greater certainty, two-thirds (66.67%) of the Silver Range Royalty represents a one percent (1.0%) interest in net smelter returns from commercial production on the Cambridge Property.
(iv) At any time prior to the commencement of commercial production from a mine on the Cambridge Property, Walker Lane shall have the irrevocable right to purchase up to one-half (50%) of the Auburn Royalty. For greater certainty, one-half (50%) of the Auburn Royalty represents a one-half percent (0.5%) interest in net smelter returns from commercial production on the Property.
(v) The purchase price to be paid as follows: a. To Silver Range for the purchase of two-thirds interest in the Silver Range Royalty pursuant to paragraph (iii) above shall be $750,000; and b. To Auburn for the purchase of one-half interest in the Auburn Royalty shall be $500,000. (vi) Section (iii) and (iv) royalty purchase rights must be fully exercised by Walker Lane and may not be exercised individually or in part without the prior written agreement of all parties to the Cambridge Property LOI.
Milestone Payment
(i) In addition to the Silver Range Royalty, Silver Range shall be entitled to a one-time cash payment of $6.00 per ounce of gold (or the equivalent value in other metals and minerals) contained in any measured or indicated mineral resource identified on the Cambridge Property as contained in the Resource Report (the ‘Silver Range Milestone Payment’), up to a maximum of $300,000.
(ii) In addition to the Auburn Royalty, Auburn shall be entitled to a one-time cash payment of $4.00 per ounce of gold (or the equivalent value in other metals and minerals) contained in any measured or indicated mineral resource identified on the Cambridge Property as contained in the Resource Report (the ‘Silver Range Milestone Payment’), up to a maximum of $200,000.
Silver Mountain Property
The Silver Mountain Property consists of eight (8) federal lode mining claims, located in Esmeralda County, Nevada, United States of America within the Walker Lane Gold Trend Area.
Silver Range and CMC have executed a LOI granting WLR the option to acquire 100% of the Silver Mountain Property (‘Silver Mountain’) for total consideration of $200,000, payable in installments of $5,000 per year until 2034 with a final payment of $150,000 by August 1, 2035. Up to half of the final payment may be made in WLR shares. In addition, WLR would be required to complete 1,000 meters of drilling during the term of the option.
The specific terms of the transaction are as follows:
Subject to the Royalty and Milestone Payment (as each is defined below), Silver Range hereby grants Walker Lane an irrevocable option to acquire one hundred percent (100%) interest in the Silver Mountain Property (the ‘Option’) to be exercisable by Walker Lane through the payment of any aggregate $200,000, as set out below:
First Option
Cash Securities, Exploration and/or Other Work Commitments
- On or before August 1, 2025 a payment of $5,000
- On or before August 1 of each of the calendar years 2026 through 2034, a payment of $5,000
- On or before August 1, 2035 $150,000 (1)
- Completing not less than an aggregate 1,000 metres of diamond drilling on the Silver Mountain Property on or before August 1, 2035.
Walker Lane may accelerate the exercise of the Option by making all of the payments and completing the drilling requirement set out above under the Option, at any time prior to August 1, 2035.
(1) Up to one-half (50%) of the cash payment may be satisfied through the issuance of common shares of Walker Lane.
The price at which the Walker Lane shares shall be issued shall be the greater of:
(i) $0.21;
(ii) the volume weighted average trading price of the Walker Lane shares for the twenty trading days immediately prior to date on which any such shares are issued to Silver Range;
(iii) if the price of Walker Lane shares is less than $0.21 at the time the payment is due and owing to Silver Range, the full amount of such payment shall be satisfied by way of a cash payment. For greater certainty, if the price of Walker Lane shares is less than $0.21 at the time the payment is due and owing to Silver Range, the full amount of such payment shall be satisfied by way of cash payment.
(iv) Notwithstanding the aforementioned sections hereof, Walker Lane shall not be to issue Walker Lane shares to Silver Range as partial payment where the issuance of such shares will result in Silver Range holding an aggregate of greater than 19.9% of the issued share capital of Walker Lane as a result of such share issuance.
(v) The balance of any payment owing to Silver Range shall be made in cash where the provisions of Section (v) become operative.
Royalty and Buy-Back Option
(i) At the time the Option is exercised, Silver Range shall be deemed to have retained a two and one-half percent (2.5%) net smelter return royalty interest in any and all future proceeds from commercial production of all commodities from the Silver Mountain Property (the ‘Royalty’).
(ii) At any time after the exercise of the Option and prior to the commencement of commercial production from any mine on the Silver Mountain Property, Walker Lane shall have the irrevocable right to purchase up to sixty percent (60%) of the Royalty. Walker Lane shall have the right to purchase up to sixty percent (60%) in a single transaction or in a number of transactions of not less than twenty percent (20%) of the Royalty in each transaction.
(iii) The purchase price to be paid to Silver Range for the purchase of each twenty percent (20%) interest in the Royalty pursuant to paragraph (ii) above shall be $500,000. For greater certainty, sixty percent (60%) of the royalty as set out in paragraph (ii), represents a one and one-half percent (1.5%) interest in net smelter returns from commercial production on the Silver Mountain Property and will have an aggregate purchase price of $1,500,000.
Milestone Payment
(i) In addition to the Royalty, Silver Range shall be entitled to a one-time cash payment of $10.00 per ounce of gold (or the equivalent value in other metals and minerals) contained in National Instrument 43-101 compliant report identifying a measured or indicated resource on the Silver Mountain Property (the ‘Resources Report’) at any time on or before or after the option has been exercise (the ‘Milestone Payment’); and,
(ii) For greater certainty, the measured or indicated resource as contained in the Resource Report shall be calculated in accordance with the definitions for mineral resources, mineral reserves, and mining studies used by the Canadian Institute of Mining, Metallurgy and Petroleum; and (iii) The Milestone Payment shall be paid to Silver Range within six months of the completion date of the Resource Report.
Walker Lane Gold Trend Area
Walker Lane has established a solid position in the Walker Lane Gold Trend Area which has a rich history of mining and exploration and remains vastly underexposed to modern exploration methods, offering substantial upside potential. The Walker Lane area is host to notable precious metal deposits such as the Comstock Lode, Round Mountain (Kinross), Silicon and Merlin (AngloGold Ashanti), Mesquite and Castle (Equinox Gold) and many other significant deposits. This popular and emerging district offers junior exploration companies exploration targets at manageable costs. These targets are also attractive in that they are associated with high-grade gold, silver and base metal mineralization, have nearby excellent infrastructure, considerable road accessibility, a local, qualified and competent labor force, a diverse range of supply companies, and are located within one of the best permitting and policy regimes in the world. The 2023 Fraser Institute Mining Industry Survey ranked Nevada second in the world in terms of investment attractiveness index.
Summary
Walker Lane Resources Ltd. has optioned three highly prospective gold and silver projects in the Walker Lane Area. Our company intends to pursue exploration of these properties in 2025 which may also include an initial drill program at Tule Canyon.
Qualified Person
Qualified Person Kevin Brewer, a registered professional geoscientist, is the Company’s President and CEO, and Qualified Person (as defined by National Instrument 43-101). He has given his approval of the technical information pertaining reported herein. The Company is committed to meeting the highest standards of integrity, transparency and consistency in reporting technical content, including geological reporting, geophysical investigations, environmental and baseline studies, engineering studies, metallurgical testing, assaying and all other technical data.
About Walker Lane Resources Ltd.
Walker Lane Resources Ltd. is a growth-stage exploration company focused on the exploration of high-grade gold, silver and polymetallic deposits in the Walker Lane Gold Trend District in Nevada and the Rancheria Silver District in Yukon/B.C. and other property assets in Yukon and Newfoundland and Labrador. The Company initially intends to initiate a comprehensive exploration program to advance the Tule Canyon (Walker Lane, Nevada) and Amy (Rancheria Silver, B.C.) projects with expectations of a multi-year exploration efforts with initial exploration success.
On behalf of Walker Lane Resources Ltd.:
‘Kevin Brewer’
Kevin Brewer, President, CEO and Director
Walker Lane Resources Ltd.
For Further Information and Investor Inquiries:
Kevin Brewer,
P.Geo., MBA, B.Sc. (Hons), Dip. Mine Eng.
President, CEO and Director
Tel: (709) 327 8013 kbrewer80@hotmail.com
Suite 1600-409 Granville St., Vancouver, BC, V6C 1T2
Cautionary and Forward Looking Statements
This press release and related figures, contain certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to as forward-looking statements). These statements relate to future events or our future performance. All statements other than statements of historical fact are forward-looking statements. The use of any of the words ‘anticipate’, ‘plans’, ‘continue’, ‘estimate’, ‘expect’, ‘may’, ‘will’, ‘project’, ‘predict’, ‘potential’, ‘should’, ‘believe’ ‘targeted’, ‘can’, ‘anticipates’, ‘intends’, ‘likely’, ‘should’, ‘could’ or grammatical variations thereof and similar expressions is intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These statements speak only as of the date of this presentation. These forward-looking statements include, but are not limited to, statements concerning: our strategy and priorities including certain statements included in this presentation are forward-looking statements within the meaning of Canadian securities laws, including statements regarding the Tule Canyon, Cambridge, Silver Mountain, and Shamrock Properties in Nevada (USA), and its properties including Silverknife and Amy properties in British Columbia, the Silver Hart, Blue Heaven and Logjam properties in Yukon and the Bridal Veil property in Newfoundland and Labrador all of which now comprise the mineral property assets of WLR. WLR has assumed other assets of CMC Metals Ltd. including common share holdings of North Bay Resources Inc. and all conditions and agreements pertaining to the sale of the Bishop mill gold processing facility and remain subject to the condition of the option of the Silverknife property with Coeur Mining Inc. These forward-looking statements reflect the Company’s current beliefs and are based on information currently available to the Company and assumptions the Company believes are reasonable. The Company has made various assumptions, including, among others, that: the historical information related to the Company’s properties is reliable; the Company’s operations are not disrupted or delayed by unusual geological or technical problems; the Company has the ability to explore the Company’s properties; the Company will be able to raise any necessary additional capital on reasonable terms to execute its business plan; the Company’s current corporate activities will proceed as expected; general business and economic conditions will not change in a material adverse manner; and budgeted costs and expenditures are and will continue to be accurate.
Actual results and developments may differ materially from results and developments discussed in the forward-looking statements as they are subject to a number of significant risks and uncertainties, including: public health threats; fluctuations in metals prices, price of consumed commodities and currency markets; future profitability of mining operations; access to personnel; results of exploration and development activities, accuracy of technical information; risks related to ownership of properties; risks related to mining operations; risks related to mineral resource figures being estimates based on interpretations and assumptions which may result in less mineral production under actual conditions than is currently anticipated; the interpretation of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; changes in operating expenses; changes in general market and industry conditions; changes in legal or regulatory requirements; other risk factors set out in this presentation; and other risk factors set out in the Company’s public disclosure documents. Although the Company has attempted to identify significant risks and uncertainties that could cause actual results to differ materially, there may be other risks that cause results not to be as anticipated, estimated or intended. Certain of these risks and uncertainties are beyond the Company’s control. Consequently, all of the forward-looking statements are qualified by these cautionary statements, and there can be no assurances that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences or benefits to, or effect on, the Company.
The information contained in this presentation is derived from management of the Company and otherwise from publicly available information and does not purport to contain all of the information that an investor may desire to have in evaluating the Company. The information has not been independently verified, may prove to be imprecise, and is subject to material updating, revision and further amendment. While management is not aware of any misstatements regarding any industry data presented herein, no representation or warranty, express or implied, is made or given by or on behalf of the Company as to the accuracy, completeness or fairness of the information or opinions contained in this presentation and no responsibility or liability is accepted by any person for such information or opinions. The forward-looking statements and information in this presentation speak only as of the date of this presentation and the Company assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law. Although the Company believes that the expectations reflected in the forward-looking statements and information are reasonable, there can be no assurance that such expectations will prove to be correct. Because of the risks, uncertainties and assumptions contained herein, prospective investors should not read forward-looking information as guarantees of future performance or results and should not place undue reliance on forward-looking information. Nothing in this presentation is, or should be relied upon as, a promise or representation as to the future. To the extent any forward-looking statement in this presentation constitutes ‘future-oriented financial information’ or ‘financial outlooks’ within the meaning of applicable Canadian securities laws, such information is being provided to demonstrate the anticipated market penetration and the reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such future-oriented financial information and financial outlooks. Future-oriented financial information and financial outlooks, as with forward-looking statements generally, are, without limitation, based on the assumptions and subject to the risks set out above. The Company’s actual financial position and results of operations may differ materially from management’s current expectations and, as a result, the Company’s revenue and expenses. The Company’s financial projections were not prepared with a view toward compliance with published guidelines of International Financial Reporting Standards and have not been examined, reviewed or compiled by the Company’s accountants or auditors. The Company’s financial projections represent management’s estimates as of the dates indicated thereon.
Figure 1: Project Locations in Nevada
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/dde0eb28-834d-4587-9aac-67dd99dbca18
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President Donald Trump on Monday confirmed he spoke with Israeli Prime Minister Benjamin Netanyahu regarding Iran and the ongoing negotiations.
In speaking to reporters after the call he said he reiterated to Netanyahu Washington’s push to make a deal avoid direct conflict.
‘We’re trying to make a deal so that there’s no destruction and death. And we’ve told them that, and I’ve told them that, and I hope that’s the way it works out,’ Trump said. ‘But it might not work out that way.
‘We’ll soon find out,’ he added.
Trump claimed that Iran had already returned a counter-proposal to the U.S. following its rejection of a proposal given to them last week, though the president said ‘it’s just not acceptable’ and that more negotiations are needed, particularly regarding enrichment-related demands.
The call came after the United Nation’s nuclear watchdog, which is charged with monitoring all nations’ nuclear programs, warned on Monday that it cannot verify whether Tehran’s program is ‘entirely peaceful’ despite the regime’s claims.
Director General of the International Atomic Energy Agency (IAEA), Rafael Grossi, on Monday issued a warning statement that the agency has not only long been barred access to old and new nuclear sites, but that Iran has scrubbed locations in an apparent move to cover up its activities.
In 2020, the IAEA found man-made particles of enriched uranium at three sites, including Varamin, Marivan and Turquzabad. The locations were previously utilized in Iran’s nuclear program and gave the agency credence to believe Tehran had once again turned to deadly nuclear ambitions.
‘Since then, we have been seeking explanations and clarifications from Iran for the presence of these uranium particles, including through a number of high-level meetings and consultations in which I have been personally involved,’ Grossi said. ‘Unfortunately, Iran has repeatedly either not answered, or not provided technically credible answers to, the Agency’s questions.
‘It has also sought to sanitize the locations, which has impeded Agency verification activities,’ he added.
Grossi, who confirmed during an April trip to Washington, D.C. that the IAEA has not been involved in nuclear negotiations between the U.S. and Iran, said on Monday that he has been working ‘closely and intensively’ with both parties in ‘support of their bilateral negotiation[s].’
The warning comes after the IAEA in a report late last month, also confirmed that Iran had drastically increased its stockpile of near-weapons-grade enriched uranium by nearly 35% in three months.
In February, the IAEA assessed that Tehran possessed 274.8 kilograms (605.8 pounds) worth of uranium enriched to 60%, but on May 17th it found Iran now has some 408.6 kilograms (900.8 pounds) – meaning the regime is just a technical step away from being able to make up to 10 nuclear warheads.
Last week, Iranian supreme leader Ayatollah Ali Khamenei came out in strong opposition to a U.S. proposal submitted to Tehran to end its nuclear program, though it remains unclear what details were included in the document, including on enrichment capabilities, and on Sunday, Iranian parliamentary speaker Mohammad Bagher Ghalibaf claimed the proposal didn’t include any sanction relief.
The White House has remained tight-lipped about what was included in the document, though according to some reporting, President Donald Trump gave Iran until June 11 to reach a deal with the U.S., though Fox News Digital could not independently verify these claims.
On Monday, Iranian Foreign Ministry spokesperson Esmaeil Baghaei confirmed that ‘The U.S. proposal is not acceptable to us. It was not the result of previous rounds of negotiations.’
‘We will present our own proposal to the other side via Oman after it is finalized. This proposal is reasonable, logical, and balanced,’ Baghaei reportedly said.
Some reporting has also suggested Iran might submit their proposal as soon as June 10, though the Iranian UN mission in the U.S. would not comment on or confirm these claims.
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The family of an Israeli soldier held hostage by Hamas has released new footage of the moment he was pulled from his tank and captured by Palestinian militants during the October 7 attacks.
The video shows the soldier, Matan Angrest, surrounded by a dozen men atop the turret of an Israeli tank. The men, whose faces are blurred in the video, then lower Angrest, head first, off the tank into the arms of Palestinian militants, who barely catch him.
It is unclear whether Angrest is conscious in the video. His body is limp and tumbles forward as he is tossed off the side of the tank.
One man can be seen kicking Angrest before he is thrown off the tank. Another man below appears to slap Angrest as he falls to the floor.
In an interview, Angrest’s mother said she decided to publish the video because she fears that her son has been “left behind” and wants the public to know that he is in a critical situation.
“I don’t feel the commitment of the government for Matan as an Israeli soldier like I felt the commitment of Trump to American citizens – a big gap,” Anat Angrest said. “If the government wants soldiers to still serve her, she has to worry about the soldiers and to bring them home like the other citizens.”
While her husband saw the video months ago, she only watched it for the first time on Sunday night.
“For me as a mother, it’s the hardest thing to watch – to know about my son. Every mother knows that her kid from the first cry of a baby, we are worried about our children,” Anat Angrest said. “It’s the hardest situation for me as a mother.”
This is the latest attempt by Angrest’s family to sound the alarm about his deteriorating medical condition in captivity. They say he is suffering from chronic asthma, has untreated burns and has suffered infections during his captivity, according to the testimony of hostages who were held with Angrest.
The video released Monday appears to have been recovered by the Israeli military from the belongings of Palestinian militants, according to the watermark on the video.
Angrest said her family did not release the video for months at the urging of the Israeli military, but said she now feels she has no choice as the Israeli government pushes for yet another partial deal that would see about half the remaining hostages released.
“We were quiet about it for a year and a half, but we understood that our quiet is very comfortable to leave Matan behind,” she said.
Angrest is one of 55 hostages still held by Hamas and one of 20 still believed to be alive, according to the Israeli government.
As a male Israeli soldier, Angrest is believed to be at the bottom of the list of hostages to be released – considered a high-value hostage by Hamas and one for whom the Israeli government will likely have to pay a steep price. Anat Angrest believes her son’s concerning medical condition should be taken into account and, like many of the hostage families, called for the release of all the hostages and an end of the war.
Ceasefire and hostage deal negotiations between Israel and Hamas have sputtered along in recent weeks, yielding no agreement. A framework proposed by the US would see about half the living and deceased hostages released in exchange for a 60-day temporary ceasefire. Hamas has insisted on stronger guarantees from the US that negotiations to end the war will continue – and the fighting will not resume – after that temporary ceasefire expires.
This is a developing story and will be updated.
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A new prisoner swap between Ukraine and Russia has begun, officials in both countries said Monday, with Ukrainian soldiers who have spent nearly the entire duration of the war in captivity among those returning home.
The exchange, agreed last week during talks in Turkey, involves detained people under the age of 25, as well as those who are seriously wounded, Ukrainian President Volodymyr Zelensky confirmed on Telegram.
It follows a dispute at the weekend during which Moscow accused Ukraine of holding up the exchange — a claim that Kyiv denied.
“Our people are home,” Zelensky wrote. “Ukrainians are returning home from Russian captivity. The exchange began today and will continue in several stages over the next few days.”
Among those being released are Ukrainian soldiers who defended the city of Mariupol, which suffered a brutal Russian assault in the first few weeks of the war, the Ukraine Coordination Headquarters for the Treatment of Prisoners of War said.
The vast majority of those being released have been in captivity since 2022, according to Dmytro Lubinets, Ukraine’s parliamentary commissioner for human rights.
Russia’s Ministry of Defense also confirmed that the exchange is underway. “The Russian servicemen are currently in the Republic of Belarus, where they are receiving the necessary psychological and medical assistance,” the ministry said.
Vladimir Medinsky, the head of Russia’s delegation for peace talks with Ukraine, said last week that the exchange would be the largest since the start of the three-year war. He said Russia would transfer the bodies of more than 6,000 killed Ukrainian troops, plus an unspecified number of wounded servicemen.
Monday’s news comes after a weekend of accusations being hurled between both Moscow and Kyiv in relation to the exchange.
Russia accused Ukraine of unexpectedly postponing the transfer of dead Ukrainian soldiers’ bodies, leaving hundreds of body bags inside refrigerated trucks waiting at an exchange point it said Kyiv had agreed to.
Ukrainian officials rejected Russia’s account of events, saying that the two sides had agreed to exchange seriously wounded and young troops on Saturday, but a date had not yet been set for the repatriation of soldiers’ remains.
The prisoner swap was a result of a second set of direct peace negotiations that took place last Monday in Istanbul. Though the exchange was agreed upon, there were no major breakthroughs, with talks lasting a little over an hour.
As the prisoner exchange will last multiple days, and is “quite complex,” negotiations between Russia and Ukraine will “continue virtually every day,” Zelensky said Monday.
“We count on the full implementation of the humanitarian agreements reached during the meeting in Istanbul. We are doing everything possible to bring back every single person. We are working toward this at every level,” he added.
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