“A critical metallurgical assessment is an important step forward at the KM98 project,” said Scott Sheldon, CEO of Go Metals. “Determining the types and quality of magnetite and ilmenite concentrates that the system can produce is essential information for potential end-users. Starting with metallurgy provides the company with a clearer picture of the project’s potential value.”

The company collected ten large samples, each weighing 10 to 15 kilograms, from outcrop and subcrop along a 240-metre section of the Roadside Occurrence. The samples include both massive and semi-massive oxide mineralization from a central portion of a 12-km magnetic anomaly.

Metallurgical testing will be carried out by IOS Géosciences in Chicoutimi, Québec. Initial work on a small set of samples will define processing parameters, which will then be applied to the full suite. The program will evaluate recovery and concentrate quality for magnetite, ilmenite, and vanadium, with additional data collected on nickel, cobalt, copper, and scandium. These results will provide the first reconciliation of mineralogy and chemistry at KM98 and establish baseline recovery data to support future economic studies. Preliminary results are expected in December 2025, followed by a comprehensive metallurgical report.

An important helicopter-borne electromagnetic VTEM plus time-domain system (VTEM) survey covering the Nemaska Belt properties was designed to provide data incremental to the high-resolution magnetic survey completed in 2021. These datasets aided the exploration team’s surface program targeting potentially economic mineralization, including high-grade nickel-copper-PGE and lithium-bearing spodumene.

Interest in high-grade nickel-copper-PGE mineralization in the region has increased with the exploration success of Power Metallic Mines Inc., formerly Chilean Metals Inc. Critical Elements optioned the Nisk property to Power Metallic in 2020. Following the exercise of the option agreement by Power Metallic on the property hosting the Ni-Cu-EGP Nisk deposit and the new polymetallic Lion discovery, Critical Elements retains a non-dilutive interest of 20% until a definitive feasibility study regarding extraction and production activities is completed on the Nisk property. Critical Elements also held just over 10 million shares of Power Metallic as of May 31, 2025.

During the 2025 summer exploration program, multiple mineralized zones were identified through rock sampling in areas coinciding with electromagnetic anomalies (VTEM conductors). The mineralization is dominated by pyrrhotite and pyrite (iron sulfide) with trace to 3-5% chalcopyrite (copper sulfide) and/or pentlandite (iron-nickel sulfide). Surface exploration confirmed historical showings and identified newly prospective areas.

In total, 1,091 rock samples and 73 till samples (0.5kg C-horizon) were collected during the summer campaign, of which 452 rock samples assays are still pending. The exploration program was designed to maximize geochemical coverage and assist in defining targets for future drill testing.

Of these samples: 25 grab samples grading above 0.1% nickel, with values up to 0.76% nickel; 17 grab samples grading above 0.1% copper, with values up to 2.00% copper; 9 grab samples grading 0.1 g/t or above palladium, with values up to 0.62 g/t palladium; 1 grab sample assaying 3.38 g/t platinum; 6 grab samples grading over 0.025% cobalt, with values up to 0.07% cobalt; 35 grab samples grading above 1.0 g/t silver, with values up to 13.6 g/t silver and 2 grab samples assaying 0.32% and 0.22% molybdenum.

Critical Elements’ 100%-owned Nemaska Belt properties consist of 1,052 Exclusive Exploration Right across 10 different property blocks, covering a total of 540 km². The portfolio spans over 100 km of the Nisk structure and its associated volcano-sedimentary belt. This east-northeast-oriented belt features recognized potential for lithium-associated pegmatite dykes and copper, nickel, and PGE mineralization associated with ultramafic rocks.

The company expects to receive final assay results from the 2025 summer exploration program over the next few weeks. All the results from this surface program and previous geophysical surveys will be incorporated to refine its planned 2026 winter drill program. This drill program will test the newly generated high-grade nickel-copper-PGE and lithium-bearing spodumene drill targets.

The program will also seek to expand the mineralized footprint of the Rose West Discovery. Rose West lies within the 395 km Rose Lithium-Tantalum and Rose South property blocks and is located less than 10 km west of the Corporation’s flagship Rose Lithium-Tantalum Project. The Rose Lithium-Tantalum Project Feasibility Study published in August 2023 returned an after-tax NPV_8% of US$2.2 billion and an after-tax IRR of 65.7%.

Management continues to be engaged in assembling the funding required to make a final investment decision on the Rose project. These efforts build on the $20 million conditional funding from Natural Resources Canada’s Critical Minerals Infrastructure Fund and the support letter from a leading Canadian financial institution stating its interest in providing long term debt financing of up to US$115 million (approximately C$150 million) of project debt.

Critical Elements aspires to become a large, responsible supplier of lithium to the electric vehicle and energy storage system industries. To this end, Critical Elements is advancing the wholly-owned, high-purity Rose Lithium-Tantalum project in Québec, the company’s first lithium project to be advanced within a land portfolio of over 1,050 km². On August 29, 2023, the corporation announced results of a new Feasibility Study on Rose for the production of spodumene concentrate.

The after-tax internal rate of return for the Project is estimated at 65.7%, with an estimated after-tax net present value of US$2.2B at an 8% discount rate. In the corporation’s view, Québec is strategically well-positioned for US and EU markets and boasts good infrastructure including a low-cost, low-carbon power grid featuring 94% hydroelectricity.

The project has received approval from the Federal Minister of Environment and Climate Change on the recommendation of the Joint Assessment Committee, comprised of representatives from the Impact Assessment Agency of Canada and the Cree Nation Government, received the Certificate of Authorization under the Environment Quality Act from the Québec Minister of the Environment, the Fight against Climate Change, Wildlife and Parks, and the project mining lease from the Québec Minister of Natural Resources and Forests under the Québec Mining Act.

The company has granted the agent an increased option, exercisable in whole or in part to sell up to an additional 675,000 units at the offering price for additional gross proceeds of $495,000.

It said the additional funds will allow the company to increase and accelerate its drilling program at the Green Monster polymetallic property which is located about 60 kilometres southwest of Las Vegas, Nevada. Proceeds will also be used for trenching at the Wild Horse property, which is located in Mineral County, Nevada, where four grab samples were collected from the Coca Cola Zone located on the west-central portion of the property. Those samples have returned copper values of 1.6%, 5.3%, 2.3% and 5.1% along with an average of 21.6 ppm silver. Samples were also anomalous in bismuth and tungsten.

On Thursday, Glenstar shares eased 5.06% or $0.04 to 75 cents. The shares trade in a 52-week range of $1.01 and 15.5 cents.

Glenstar recently said the intersection of a polymetallic zone at Green Monster property in position 150 metres from the main target zone, resulting in a change of focus for exploration on the property.

The Green Monster Property is located on the western edge of the Goodsprings Mining District, an area that has been a centre for base metal production since the late 1800s. The company said this historically rich district, known for its production of zinc, nickel and copper, is undergoing a renaissance as moder exploration techniques open new possibilities.

The property, spanning roughly 700 acres across 35 federal lode claims, is part of a 30-kilometre-long fault zone, which the company said is already noted for zinc-rich mineralization and anomalous nickel-cobalt and copper occurrences.

The property lode claims are attached to patented mining claims covering the underground historic workings of the Green Monster Mine. Patented claims were historically only given to properties that had significant production. The mine produced 2.0 million pounds of zinc along with lesser quantities of copper, silver, lead and uranium.

Due to an error in the original offering document, the company has amended the price of compensation options, previously announced on August 18, 2025, to be adjusted from $0.85 per compensation option to $0.68, to make the price consistent with the offering price. Each compensation option will entitle the holder to acquire one common share for $0.68 per common share for 24 months after the offering closes.

“We are excited to return to Havre-Saint-Pierre to advance the KM98 Project through a critical metallurgical assessment,” said Scott Sheldon, CEO of Go Metals. “Last season, we confirmed the prospect’s size potential. Now our objective is to determine whether mineralized material can be processed into a marketable concentrate, which will be a key step in evaluating the viability of the project.”

The sampling program will target the central portion of a 12-km-long magnetic anomaly located near road-accessible terrain. Should the results from the metallurgical study be favourable, the company plans to expand testing to include the large southwestern portion of the anomaly.

The company has also partnered with l’Institut national de la recherche scientifique (INRS) and Universit├⌐ du Québec ├á Chicoutimi (UQAC) to support a collaborative academic research initiative in the HSP anorthosite complex. The study will be supervised by Dr. Sarah Dare and Dr. Renaud Soucy-La Roche and submitted for grant funding through the Fonds de recherche du Québec – Nature et technologies (FRQNT). If the grant application is successful, the three-year research study will operate with a proposed budget of up to $300,000.

The company flagship Monster Project in Yukon is a district-scale Iron Oxide Copper-Gold (IOCG) system – one of the few of its kind in Canada – showing high-grade copper and cobalt mineralization at surface with three large-scale magnetic and gravity anomalies suggesting major depth potential. The project is fully permitted for advanced exploration activities through 2032.

Mark Jarvis, who has served as CEO since 2005, will assume the role of President, creating a structure that ensures continuity and a strong foundation for the company’s next phase of growth.

Giga’s flagship asset is the Turnagain project in north central B.C. The company says it ranks among the largest sulphide nickel deposits in the world, and could cost $1.9 billion (initial capital cost) to develop. Turnigan is owned by Hard Creek Nickel Corp., a joint venture held 85% by Giga Metals and 15% by Mitsubishi Corp.

Giga announced the results of a pre-feasibility study in September, 2023. The PFS envisages a long-life mining operation with annual production averaging 37,288 tonnes per year of nickel-cobalt in concentrate over a nominal full operating rate period (year three to 28) based on a 30-year project life with a low strip ratio of 0.4 tonnes waste per tonne. Nickel concentrates are expected to average 18% nickel and 1.1% cobalt.

Measured and indicated resources stand at 1.57 billion tonnes of grade 0.210% nickel, 0.013% cobalt, 0.020 g/t palladium, 0.022 g/t platinum or 3.38 millon tonnes of contained nickel.

The company said Lendrum has extensive experience as an investment banker specializing in the mining sector. He has a strong record in executing cross-border mergers and acquisitions, equity financing, and capital market transactions, and has held leadership positions at several prominent financial institutions, most recently at Paradigm Capital from 2021 to 2024, where he was a director of investment banking (mining).

“Turnagain is a significant project in a great jurisdiction, and it has exciting exploration upside in addition to a large nickel and cobalt deposit, described a PFS dated October, 2023,” Lendrum said. “I believe there is a lot of value to be unlocked here, and I look forward to the challenge.”

The Turnagain property lies immediately north of the Turnagain River near its confluence with Hard Creek, 65 kilometres east of the community of Dease Lake, which in turn is located on Highway 37, some 400 kilometres north of the port of Stewart. An 80-kilometre access trail extending easterly from Dease Lake extends into the Turnagain property and is used to haul equipment and supplies. A 900-metre-long airstrip, expanded in 2008 and situated within the claims area on the north side of Turnagain River, accommodates small aircraft. This airstrip is immediately adjacent to the current camp facility.

Giga shares eased 5.5% or $0.005 to $0.085 in early trading, Wednesday. The shares trade in a 52-week range of 18.5 cents and $0.07

The company also said a previously announced private placement (the brokered offering, and collectively with the flow-through offering) is fully subscribed for the sale of 15.2 million units at a price of 85 cents per unit for gross proceeds of $13.0 million, which includes gross proceeds from the full exercise of the agents option. “The aggregate gross proceeds to the company from the offerings will be approximately $17.5 million,” Canada Nickel said in a press release.

Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share for $1.20 at any time on or before the date which is 36 months after closing which is set to occur on June 26, 2025.

Gross proceeds from the flow-through offering will be used to incur eligible resource exploration expenditures that qualify as (i) Canadian exploration expenses as defined under the Income Tax Act Canada, (ii) flow-through critical mineral mining expenditures, and (iii) eligible Ontario critical mineral exploration expenditures.

Canada Nickel shares eased 1.14% or $0.087 to 87 cents in early trading Thursday. The shares trade in a 52-week range of $1.33 and 73.5 cents.

Canada Nickel is pursuing the development of processes to allow the production of net zero carbon nickel, cobalt and iron products. The company is anchored by its 100%-owned Crawford Nickel-Cobalt Sulphide project, which the company believes has the potential to become one of the world’s largest nickel-sulphide districts.

The company is also aiming to incorporate carbon capture and storage into its flagship Crawford nickel project. The company recently said Carbon capture test work confirms that it could store one million tonnes of carbon annually.

Canada Nickel recently announced the receipt of a letter of intent (LOI) from Export Development Canada, stating its interest in providing long term funding of up to US$500 million in debt financing for the development of the company’s flagship Crawford Project, in Timmins, Ont.

“EDC could consider a debt tenor of up to 18 years, subject to certain conditions,” Canada Nickel said. “EDC’s participation in project financing is subject to the successful completion of its rigorous due diligence process.”

Agnico-Eagle Mines Ltd. (AEM-TSX, AEM-NYSE) holds a 12% stake in the company on a non-diluted basis.

The company said the offering will consist of units to be issued at a price of US$1.12 per unit, each of which will consist of one common share and one transferable common share purchase warrant. Each warrant will entitle the holder to purchase one common share at a price of US$1.40 at any time for 18 months following the date of issue. Net proceeds raised from the offering will be used to advance the company’s refinery project site in Tamiskaming Shores, Ont., and for general corporate purposes.

The announcement comes after Electra Battery announced the receipt of a letter of intent for proposed funding of $20 million that could be used to support construction of the refinery. The letter of intent, which was agreed to back in January 27, 2025, was provided to the company by the Canadian Federal Government is non binding. It expresses an interest and intent to work towards completing a final term sheet but does not constitute a binding agreement.

Electra shares eased 5.5% or 10 cents to $1.70. The shares trade in a 52-week range of $3.80 snf $1.60.

Electra, a company previously known as First Cobalt Corp, has pledged to supply LGES with 3,000 tonnes cobalt contained in a cobalt sulfate product in 2025 and a further 4,000 tonnes in each of the following years through 2009, for a total of 19,000 tonnes under an agreed pricing mechanism. That material will be supplied from a cobalt sulfate refinery located in Temiskaming Shores, near the Sudbury, Ont., Nickel Basin.

The refinery is currently under construction and also running a plant-scale black mass recycling trial to recover high value elements contained in expired lithium-ion batteries, including lithium, nickel, cobalt, manganese, and graphite. Electra recently said results from its plant-scale trial have met or exceeded results achieved previously in the lab setting. Electra anticipates commercialization of its black mass recycling capabilities in 2024, pending completion of funding commitments.

First Cobalt acquired the facility three years ago when it bought US Cobalt Inc. for about $150 million.

As part of the deal, First Cobalt also picked up the Iron Creek Cobalt property in Idaho, one of only two advanced primary cobalt resource projects in the U.S., and a potential future source of feed for the Ontario refinery.

After recent talks with potential customers in the auto and battery manufacturing sector, First Cobalt elected to expand the refinery into a Battery Metals Park capable of supplying a variety of materials for the electric vehicle market.

At full capacity, Electra’s battery materials park could produce enough cobalt sulfate to supply up to 15 million electric vehicles annually and process 2,500 tonnes of black mass materials per annum.

The ├àmot target is a 2km-long “buried” VMS target hosted within favourable stratigraphy for VMS-type deposits and located just 5km east of the former L├╕kken copper mining operations. The ├àmot target was discovered through recent systematic exploration and has never been drill tested.

Capella announced a strategic partnership with Teako at the L├╕kken project in Q3, 2024 through the combination of Capella’s exploration concessions around the former L├╕kken mine with Teako’s regional-scale exploration concessions along the L├╕kken trend. Through this partnership, Capella retains direct project-level participation (a non-dilutable 10% carried interest to production) on any discoveries made within the former Capella concessions, plus indirect exposure to discovery upside through its shareholding in Teako.

Highlights: Strategic partner Teako has initiated a maiden diamond drill program at the Åmot VMS Cu-Co-Zn target, Løkken project, central Norway.

The ├àmot target is a 2km-long coincident geophysical (electromagnetic and ground magnetic anomalies) and geochemical target – all considered to be key indicators for “buried” VMS targets – and which has been defined by modern exploration undertaken since the closing of the former L├╕kken mining operations in the mid-1980’s. No drilling has yet been undertaken on the ├àmot target.

Teako received all approvals for this current round of drilling on the Åmot target in December, 2024, with the main limitation being that it be completed by March 31, 2025 (the expected end of winter conditions). Additionally, Teako has been granted an 11-day extension (until April 11, 2025) to its drill permit at the adjacent Høydal target.

The ├àmot program currently contemplates the drilling of a minimum of 580 metres to test a “buried” Cu-Co-Zn target located 5km east of the former L├╕kken mining operations (and the first of a number of targets to be tested within the district-scale L├╕kken project). ├àmot is hosted within stratigraphy considered favourable for the discovery of new L├╕kken-type VMS deposits, and the main target is a large (up to 2km in length) coincident geophysical (electromagnetic and ground magnetic) and geochemical anomaly which together represent a highly favourable combination for “buried” VMS deposits. The ├àmot target is interpreted by both Teako and Capella from Maxwell plate modelling of geophysical data to lie approximately 44m to 140m below the surface.

The company’s previously announced (December 3, 2024) non-brokered private placement of up to 15,000,000 units at $0.05 per share is still ongoing. Each unit consisting of one common share and one-half of a share purchase warrant, each whole warrant entitling the holder to acquire an additional common share at a price of $0.10 per share for a period of two years from the date of issuance. The company remains in discussions with potential investors and is working diligently towards closing this financing as soon as practically possible.

The former L├╕kken Mine closed in the mid-1980’s in response to low copper prices and produced a reported 24MT at 2.3% Cu plus 1.9% Zn (with minor Co, Ag, and Au credits). The L├╕kken mine was a stratiform massive sulfide deposit which measured approximately 4km in length, reached a maximum depth of 1km, and had an average thickness of 60m. Mineralization consisted of massive chalcopyrite, sphalerite, pyrite, and pyrrhotite.

The combined land holding of the Capella-Teako partnership covers a total area of 1,039 km² and is comprised of the 114 km² of concessions originally held by Capella around the former Lokken mine (and now owned 90% by Teako) together with the 925 km² of concessions held 100% by Teako along strike within favourable stratigraphy.

Given that VMS deposits typically occur in clusters – and combined with the lack of systematic regional exploration throughout much of the land package – considerable potential exists for the discovery of new L├╕kken-type deposits within the broader district. Capella retains direct project-level participation (a non-dilutable 10% carried interest to production) on any discoveries made within the former Capella concessions, plus indirect exposure to discovery on the combined land holding upside through its significant shareholding in Teako.

In northern Finland, the company has five copper-gold projects including the priority Killer├╢ E target (a former Anglo American copper-gold project that was never drill tested) and the Saattopora W target (the western extension to Outokumpu Oy’s Saattopora former copper-gold mine) – all of which are located about 40km SW of Agnico Eagle’s Kittil├ñ Gold Mine, currently the largest gold producer in Europe.

In the Tr├╕ndelag Province of central Norway, the company’s focus is on the discovery of high-grade copper-cobalt massive sulfide (VMS) deposits in the former mining districts of L├╕kken and R├╕ros.

The company’s portfolio includes a 100% interest in the advanced exploration-stage Hessj├╕gruva copper-cobalt project and adjacent Kongensgruve project in the northern R├╕ros mining district, and exposure to the discovery of new satellite copper-cobalt-zinc VMS targets around the past-producing L├╕kken copper mine through a strategic partnership with Teako Minerals Corp.

Capella also holds significant equity positions in Teako Minerals and Grit Metals Corp. (formerly European Energy Metals Corp. as a direct result of the recent divestiture of non-core assets.

With the recent equity raise the company’s exploration budget through the end of 2026 is more than $40 million based on flow-through proceeds raised. With this expenditure the company is targeting approximately 100,000 metres of drilling and other exploration programs over the next 21 months. The drilling will include extending the zones in the Lion and Tiger polymetallic areas; expansion of the Nisk deposit; and exploring the untested 5.5 km of strike between these areas.

There are currently three drill rigs, with increased drill capacity limited by current core logging and sampling facilities at site. To accelerate the exploration program, the company is in the midst of planning a complete revamp of the core logging facility to allow an increase to six drills. This expansion should be completed in May and allow scaling up to six drills starting in June.

The company will be continuing to use both borehole electromagnetic surveys (BHEM) and ground EM as primary tools to inform drill targeting. BHEM has provided excellent success at identifying off-hole anomalies that have resulted in discovery of sulphide drill intersections. The company is currently greatly anticipating drilling conductors recently found west of Lion and following up on recent success in Tiger and between Lion and Tiger.

Follow-up drilling on BHEM anomalies has resulted in sulphide drill intersections at Lion and Tiger, with no false positives encountered to date. The BHEM work will allow the company to fully integrate many other geophysical data sets, including ground EM, ground magnetics and gravity, and match this to surface geological mapping.

Currently, the company has completed surveys of all previously targeted drill holes, and now, with three drills turning on mineralized targets, results will progress quicker. BHEM will continue, but will be seamlessly integrated with the completion of each drill hole to limit drilling delay.

Power Metallic is continuing to explore Lion at depth with success. All drilling in 2025 (and assay-pending 2024 holes) have intersected the Lion zone, extending the plunge of Lion. The company is currently awaiting assays results from holes PN-24-086, PN-24-087, PN-24-092, PN-24-093, PN-24-096, PN-24-097 and PN-24-100. All these drill holes had significant visual mineralization.

In addition to following the down-plunge direction of Lion to expand the potential resource, Power Metallic has successfully completed BHEM on holes to the west of Lion, and these have indicated strong off-hole plates that will be followed up as soon as possible.

Following the initial intersection at Tiger in hole PN-24-094 (700 metres east of Lion), Power Metallic completed BHEM on this hole and identified multiple conductive off-hole plates. These plates were targeted resulting in sulphide intersections both west (PN-25-098) and east (PN-25-099) of PN-24-094. Assays are pending for all these holes, but visual logging and XRF (X-ray fluorescence) results indicate copper and nickel mineralization. Power Metallic then stepped out farther to the west from hole PN-25-098 to follow up on more BHEM targets and successfully hit sulphides in hole PN-25-101.

The limited drilling so far has not yet provided a confident model for the Tiger zone, and current interpretations assume that strike, dip and plunge will be similar to Lion and Nisk. As more drilling information accumulates Power Metallic will provide an interpreted model for Tiger. Drill holes PN-24-094, PN-24-098, PN-24-099 and PN-24-101 all have assays pending.

Following the success of Tiger’s BHEM surveying, Power Nickel revisited drill hole PN-24-088, which is located approximately halfway between the Lion and the Tiger zones. A semi-completed BHEM survey on the bottom half of PN-24-088