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FORTUNE BAY APPOINTS PATRICK MCGRATH AS CHIEF FINANCIAL OFFICER

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Fortune Bay Corp. (TSXV: FOR,OTC:FTBYF) (FWB: 5QN) (OTCQB: FTBYF) (‘Fortune Bay’ or the ‘Company’) is pleased to announce the appointment of Patrick McGrath as Chief Financial Officer (‘CFO’). Mr. McGrath succeeds Sarah Oliver, who will be stepping aside after serving as CFO since 2016. Ms. Oliver will remain involved over the coming months to ensure a smooth transition.

Patrick McGrath – Experienced Resource-Sector Executive
Mr. McGrath is a seasoned finance executive with over 25 years of experience in the resource industry. He has held senior leadership roles in multiple public companies, most recently as Chief Executive Officer of Blue Moon Metals Inc. until November 2024, and previously as Chief Financial Officer and later Chief Executive Officer of Hemlo Mining Corp. until May 2023, then known as Carcetti Capital Corp., a former producing oil and gas company in Eastern Europe.

Mr. McGrath holds a Bachelor of Commerce from Memorial University and is a Chartered Professional Accountant (CPA) in Canada. He brings extensive expertise in corporate finance, capital markets, and financial strategy, with a proven track record of supporting resource companies through exploration, development, and growth stages.

Leadership Transition
Ms. Oliver has played a key role in Fortune Bay’s financial stewardship for nearly a decade, ensuring strong compliance, reporting integrity, and fiscal discipline. Her contributions have been instrumental in positioning the Company with a solid financial foundation as it advances its gold project portfolio.

Dale Verran, CEO of Fortune Bay, commented, ‘On behalf of the Board and management team, I am delighted to welcome Patrick McGrath to Fortune Bay. Patrick’s depth of financial expertise and leadership experience will be invaluable as we advance our projects and pursue growth opportunities. I would also like to sincerely thank Sarah Oliver for her many years of dedicated service. Sarah has been a trusted steward of our financial operations and a valued member of our leadership team. We are grateful for her contributions and support through this transition.’

Patrick McGrath, incoming CFO, stated, ‘I am excited to be joining Fortune Bay at such a pivotal and exciting time for the Company. With a strong project portfolio, a clear growth strategy, and significant opportunities ahead, I look forward to contributing to Fortune Bay’s success and working with the team to deliver value for shareholders.’

About Fortune Bay
Fortune Bay Corp. (TSXV:FOR,OTC:FTBYF; FWB:5QN; OTCQB:FTBYF) is a gold exploration and development company advancing high-potential assets in Canada and Mexico. With a strategy focused on discovery, resource growth and early-stage development, the Company targets value creation at the steepest part of the Value Creation Curve. Its portfolio includes the development-ready Goldfields Project in Saskatchewan, the resource-expansion Poma Rosa Project in Mexico, and an optioned uranium portfolio in the Athabasca Basin providing non-dilutive capital and upside exposure. Backed by a technically proven team and tight capital structure, Fortune Bay is positioned for multiple near-term catalysts. For more information, visit www.fortunebaycorp.com or contact info@fortunebaycorp.com.

On behalf of Fortune Bay Corp.

‘Dale Verran’
Chief Executive Officer
902-334-1919

Cautionary Statement Regarding Forward-Looking Information
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. Words such as ‘expects’, ‘aims’, ‘anticipates’, ‘targets’, ‘goals’, ‘projects’, ‘intends’, ‘plans’, ‘believes’, ‘seeks’, ‘estimates’, ‘continues’, ‘may’, variations of such words, and similar expressions and references to future periods, are intended to identify such forward-looking statements.

Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals, intentions or future plans, statements, exploration results, potential mineralization, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify targets or mineralization, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, inability to reach access agreements with other Project communities, amendments to applicable mining laws, uncertainties relating to the availability and costs of financing or partnerships needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR+. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. For more information on Fortune Bay, readers should refer to Fortune Bay’s website at www.fortunebaycorp.com. 

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

SOURCE Fortune Bay Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2025/04/c3529.html

News Provided by Canada Newswire via QuoteMedia

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Gold Price Forecast: Top Trends for Gold in 2026

Investing 5 Mins Read

Gold has reached once-unthinkable prices in 2025, gaining over 60 percent by early December.

Looking ahead to 2026, experts believe the major themes that carried the gold price to new heights this year will continue to underwrite its trajectory in the months ahead, boosting the metal even further.

What are the top trends shaping the gold market, and what should investors expect in the new year?

Trade tensions to stoke ETF and central bank gold demand

US President Donald Trump’s aggressive trade policies have injected a high level of volatility into a world economy that was already reeling from ongoing regional conflicts.

This type of uncertainty reliably encourages investors to seek safe havens, and that theme dominated much of the gold story for 2025. Heading into the new year, analysts see no end to this trend.

Strong gold exchange-traded fund (ETF) inflows and central bank purchases are projected to continue into next year as investors, particularly in the west, increasingly recognize the hedge value of gold.

Global financial services firm Morgan Stanley (NYSE:MS) sees demand for gold from ETFs and central banks pushing the gold price back up above US$4,500 per ounce by mid-2026.

The World Gold Council (WGC) also expects the themes of risk and uncertainty to continue driving gold.

“My sense is that we’re going to continue to see these challenges in 2026.”

Cavatoni expects this will translate into continued strong ETF flows and central bank demand for the monetary metal for 2026, although central bank buying may come at a slower pace than the past few years.

Gold as a hedge against potential AI stock bubble

Another potential 2026 tailwind for gold is a correction in artificial intelligence (AI) stocks.

Analysts are increasingly warning that this could happen, and it’s possible that AI bubble meltdown concerns may push more investors away from equities and into gold in the coming year.

Michael Hartnett, chief investment strategist at Bank of America Global Research, told his clients in late October that gold may be one of the strongest hedges if the AI bubble bursts.

Similarly, Macquarie analysts are warning that if AI tech firms and their clients can’t demonstrate a return on their huge investments in the emerging technology, gold may be the best bet for protection against the resulting market fallout: “Optimists buy tech, pessimists buy gold, hedgers buy both.’

Weak US dollar, low interest rates price positive for gold

The gold price has an inverse relationship with the US dollar and real interest rates. Indeed, Morgan Stanley’s US$4,500 gold forecast for mid-2026 is predicated on a weaker dollar and lower rates.

Lower rates typically weaken the dollar, and Trump has been pressuring the US Federal Reserve to drop rates since taking office. With Fed Chair Jerome Powell’s term due to end next year, market watchers are anticipating that a more dovish Fed head will take the helm. This means that more rate cuts are likely on the table for 2026.

A softer dollar and a low rate environment would provide foundational support for further gold price gains. The resulting inflation is expected to push the Fed toward quantitative easing (QE), or the purchasing of government bonds to increase money supply and lower long-term rates, which would further bolster the yellow metal’s appeal.

At its October policy meeting, the Fed stated that its quantitative tightening activities (allowing bonds to mature without reinvesting the proceeds) would end on December 1.

“Frankly … interest expense for the federal government is running at US$1.2 trillion a year (and) the budget deficit is US$1.8 trillion a year, so the interest is really contributing to the deficit,” he said. “The US federal government really needs lower rates, or else interest is going to continue to consume a big piece of their revenues.”

Lepard believes investors are keenly aware that lower rates are coming, which naturally means more inflation. This realization is enhancing gold’s investment appeal.

Gold price forecasts for 2026

Heading into 2026, Fed monetary policy changes are likely to give gold another boost to the upside.

“As we move through the year, as the Federal Reserve transitions to QE and maybe yield curve control and money printing, the (precious) metals themselves will catch another leg up,” said Lepard.

“Gold will go through US$4,500 toward US$5,000, silver will go to US$60 or US$70 and (gold and silver) stocks will all go up another 30 percent pretty easily, and then maybe more over the next 12 months,’ he added.

Global financial services provider B2PRIME Group also sees gold’s average price in 2026 at around US$4,500 as US debt challenges and possible Fed rate cuts continue to bolster the value of the precious metal.

Overall, most analysts’ gold price predictions for the upcoming year are in the US$4,500 to US$5,000 range.

Metals Focus is forecasting an annual average high of US$4,560 in 2026, with gold potentially reaching a record US$4,850 in the fourth quarter. The firm sees these gains materializing despite a projected gold surplus of 41.9 million ounces in 2026, up 28 percent year-on-year; that would take mine production to another record high in 2026.

Goldman Sachs (NYSE:GS) is predicting that gold could reach as high as US$4,900 next year on increased central bank buying and anticipated inflation-causing interest rate cuts by the Fed.

For its part, Bank of America (NYSE:BAC) sees the yellow metal breaching US$5,000 in 2026 on growing deficit spending in the US and Trump’s ‘unorthodox macro policies.’

Investor takeaway

Ongoing uncertainty from trade tensions, a potential market correction in the AI sector, US debt challenges and anticipated shifts in Fed policy have fueled strong investment demand for gold as a safe-haven asset.

Those demand drivers are not going away in 2026; in fact, they are likely to provide further foundational support that could propel the gold price to new record highs.

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

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Sankamap Updates Status on Late Filing of Financial Statements; Extends MCTO

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Sankamap Metals Inc. (CSE: SCU) (‘Sankamap’ or the ‘Company’) further to the Company’s news releases dated October 21, 2025, November 4, 2025, and November 18, 2025, the Company continues to work towards the filing of its annual audited financial statements and management’s discussion and analysis for the fiscal year ended June 30, 2025 (the ‘Required Filings’). The Company has obtained approval from the Alberta Securities Commission to extend the Management Cease Trade Order (‘MCTO’) under National Policy 12-203 Management Cease Trade Orders (‘NP 12-203’) until December 28, 2025.

While the audit of Sankamap’s private subsidiary has now been completed, timing adjustments in the subsidiary’s audit resulted in a brief postponement of fieldwork and the review of Sankamap’s audit file. The upcoming holiday period is also expected to affect scheduling. To support timely completion of the audit, the Company intends to appoint the subsidiary’s auditor as its auditor, as their familiarity with the Company’s mineral property and the Solomon Islands jurisdiction is expected to facilitate an expedited process. A change of auditor is underway, and the Company expects to file the required change of auditor documentation shortly.

The Required Filings were due to be filed by October 28, 2025. In connection with the anticipated delays in making the Required Filings, the Company made an application for a Management Cease Trade Order (‘MCTO‘) under National Policy 12-203 Management Cease Trade Orders (‘NP 12-203‘) to the Alberta Securities Commission, as principal regulator for the Company, and the MCTO was issued on October 29, 2025. The MCTO restricts all trading by the Company’s CEO and CFO in securities of the Company, whether direct or indirect. The issuance of the MCTO will not affect the ability of persons who are not directors, officers or insiders of the Company to trade their securities. The MCTO will remain in effect until the Required Filings are filed or until it is revoked or varied.

The Company expects to proceed with the filing of its interim first-quarter financial statements shortly after the Required Filings have been completed and submitted.

The Company confirms that it intends to satisfy the provisions of the alternative information guidelines described in NP 12-203 by issuing bi-weekly default status reports in the form of a news release until it meets the Required Filings requirement. The Company has not taken any steps towards any insolvency proceeding and the Company has no material information relating to its affairs that has not been generally disclosed.

About Sankamap Metals Inc.

Sankamap Metals Inc. (CSE: SCU) is a Canadian mineral exploration company dedicated to the discovery and development of high-grade copper and gold deposits through its flagship Oceania Project, located in the South Pacific. The Company’s fully permitted assets are strategically positioned in the Solomon Islands, along a prolific geological trend that hosts major copper-gold deposits; including Newcrest’s Lihir Mine, with a resource of 71.9 million ounces of gold¹ (310 Mt containing 23 Moz Au at 2.3 g/t P+P, 520 Mt containing 39 Moz Au at 2.3 g/t indicated, 81 Mt containing 5 Moz Au at 1.9 g/t measured, 61 Mt containing 4.9 Moz Au at 2.3 g/t Inferred).

Exploration is actively advancing at both the Kuma and Fauro properties, part of Sankamap’s Oceania Project in the Solomon Islands. Historical work has already highlighted the mineral potential of both sites, which lie along a highly prospective copper and gold-bearing trend, suggesting the possibility of further, yet-to-be-discovered deposits.

At Kuma, the property is believed to host an underexplored and largely untested porphyry copper-gold (Cu-Au) system. Historical rock chip sampling has returned consistently elevated gold values above 0.5 g/t Au, including a standout sample assaying 11.7% Cu and 13.5 g/t Au2; underscoring the area’s significant potential.

At Fauro, particularly at the Meriguna Target, historical trenching has returned highly encouraging results, including 8.0 meters at 27.95 g/t Au and 14.0 meters at 8.94 g/t Au3. Complementing these results are exceptional grab sample assays, including historical values of up to 173 g/t Au3, along with recent sampling by Sankamap at the Kiovakase Target, which returned numerous high-grade copper values, reaching up to 4.09% Cu. In addition, limited historical shallow drilling intersected 35.0 meters at 2.08 g/t Au3, further underscoring the property’s strong mineral potential and the merit for continued exploration. With a commitment to systematic exploration and a team of experienced professionals, Sankamap aims to unlock the untapped potential of underexplored regions and create substantial value for its shareholders. For more information, please refer to SEDAR+ (www.sedarplus.ca), under Sankamap’s profile.

1.Newcrest Technical Report, 2020 (Lihir: 310 Mt containing 23 Moz Au at 2.3 g/t P+P, 520 Mt containing 39 Moz Au at 2.3 g/t indicated, 81 Mt containing 5 Moz Au at 1.9 g/t measured, 61 Mt containing 4.9 Moz Au at 2.3 g/t Inferred)

2. Historical grab, soil and BLEG samples from SolGold Kuma Review June 2015, and SolGold plc Annual Report 2013/2012

3. September 2010-June 2012 press releases from Solomon Gold Ltd. and SolGold Fauro Island Summary Technical Info 2012

QP Disclosure

The technical content for the Oceania Project in this news release has been reviewed and approved by John Florek, M.Sc., P.Geol., a Qualified Person in accordance with CIM guidelines. Mr. John Florek is in good standing with the Professional Geoscientists of Ontario (Member ID:1228) and a director and officer of the Company.

ON BEHALF OF THE BOARD OF DIRECTORS

s/ ‘John Florek’
John Florek, M.Sc., P.Geol
Chief Executive Officer
Sankamap Metals Inc.

Contact:
John Florek, CEO
T: (807) 228-3531
E: johnf@sankamap.com

The Canadian Securities Exchange has not approved nor disapproved this press release.

Forward-Looking Statements

Certain statements made and information contained herein may constitute ‘forward-looking information’ and ‘forward-looking statements’ within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to Sankamap and there is no assurance that the actual results will meet management’s expectations. Forward-looking statements and information may be identified by such terms as ‘anticipates,’ ‘believes,’ ‘targets,’ ‘estimates,’ ‘plans,’ ‘expects,’ ‘may,’ ‘will,’ ‘could’ or ‘would.’

This press release contains forward-looking statements, including, but not limited to, statements regarding management’s expectations about obtaining the MCTO and completing the Required Filings within the anticipated timeline. Forward-looking statements are subject to various risks, uncertainties, and other factors that could cause actual results or events to differ materially from those expressed or implied by such statements. Sankamap does not undertake any obligation to update forward-looking statements or information, except as required by applicable securities laws. For more information on the Company, investors should review the Company’s continuous disclosure filings that are available at www.sedarplus.ca.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276869

News Provided by Newsfile via QuoteMedia

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Crypto Market Update: Strategy Faces MSCI Index Removal, SEC Freezes Ultra-Leveraged ETF Approvals

Investing 3 Mins Read

Here’s a quick recap of the crypto landscape for Wednesday (December 3) as of 9:00 a.m. UTC.

Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ether price update

Bitcoin (BTC) was priced at US$92,758.95, up by 4.1 percent over 24 hours.

Bitcoin price performance, December 3, 2025.

Chart via TradingView.

After Bitcoin stared the week with its largest single-day decline in a month, it rallied about 6.6 percent in 24 hours to reclaim US$93,000. This now marks Bitcoin’s highest intraday level in more than two weeks.

Despite the cryptocurrency’s rebound, analysts are still urging caution and advising investors to await clearer macro signals before fully re-entering higher-risk assets.

Ether (ETH) also regained ground and is currently priced at US$3,051.34, up 7.1 percent over 24 hours.

Altcoin price update

  • XRP (XRP) was priced at US$2.19, an increase of 4.6 percent over 24 hours.
  • Solana (SOL) was trading at US$142.17, up by 6.6 percent over 24 hours.

Today’s crypto news to know

Strategy faces possible removal from MSCI indexes

Michael Saylor’s Strategy (NASDAQ:MSTR) is in discussions with index provider MSCI as the company thinks about removing Strategy from major stock indexes, according to Reuters.

MSCI is considering cutting companies whose business model is to buy crypto. Strategy currently holds about 650,000 BTC and has relied on new debt and equity issuance to add to its holdings.

JPMorgan Chase (NYSE:JPM) estimates a removal could trigger up to US$8.8 billion in outflows if other index providers follow suit. Saylor said the company is participating in MSCI’s review process, but questioned the scale of possible selling projected by JPMorgan. A verdict is expected by January 15 of next year.

Sony partner launches stablecoin for Soneium

Startale Group has launched USDSC, a stablecoin pegged to the US dollar that is designed to serve as the default settlement currency on Sony Group’s (NYSE:SONY,TSE:6758) Soneium blockchain.

According to a Decrypt report, the launch includes a new rewards program called STAR Points that is geared at encouraging user activity across payments, liquidity supply and app interaction. Soneium went live earlier this year following a test phase that drew 14 million users and processed 50 million transactions.

Startale CEO Sota Watanabe said USDSC aims to support payments and yield generation across the network’s creator-focused ecosystem. Stablecoin infrastructure firm M0 is providing backend support for issuance and liquidity.

A waitlist for the Startale app is open to users seeking early access to USDSC features and rewards.

SEC blocks rollout of high-leverage ETFs

The US Securities and Exchange Commission (SEC) has halted the approval process for multiple ultra-leveraged exchange-traded funds (ETFs), citing concerns about investor risk.

Warning letters were sent to nine issuers, including Direxion, ProShares and Tidal, affecting products designed to offer more than 2x exposure to equities, commodities and cryptocurrencies.

The SEC said the proposals exceed regulatory limits on allowable leverage and rely on benchmark definitions that may fail to reflect true market volatility. Some of the planned funds target exposure to highly volatile assets. No 3x or 5x single-stock ETFs currently exist in the US due to existing restrictions.

Leveraged ETF trading has surged since 2020, with total assets rising to around US$162 billion.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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Freegold Intersects 1.53 g/t Au over 191.3m in infill drilling at Golden Summit

Investing 9 Mins Read

Highlight Drill Results:

GS2508

1.05 g/t Au over 120.7 m in the Cleary Zone

GS2528

1.78 g/t Au over 61 m in the Cleary Zone

GS2531

1.53 g/t Au over 191.3 m in the Dolphin Zone

Note: The reported widths refer to drill hole intercepts; true width cannot be determined due to the uncertain geometry of mineralization.

VANCOUVER, BC, Dec. 4, 2025 /CNW/ – Freegold Ventures Limited (TSX: FVL,OTC:FGOVF) (OTCQX: FGOVF) announces results from six additional drill holes at the Golden Summit project. In 2025, a total of 62 holes were drilled, with assay results for 29 holes reported to date. Reporting assay results will continue in the coming months. The results from the 2025 and first half of 2026 drilling programs will be used to update the mineral resource estimate (MRE) published in July 2025, which reported 17.2 million ounces at 1.24 g/t Au indicated and 11.9 million ounces at 1.04 g/t Au inferred. The updated MRE and subsequent drilling in 2026 will serve as the basis for the Pre-Feasibility Study (PFS), scheduled for completion in early 2027. In addition to the extensive drill program, a range of other activities supporting the PFS are in progress. These include cultural resource assessments, paleontology, groundwater studies, power supply analysis, mammal habitat evaluations, and continuing metallurgical test work.

2025 Program Overview
The 2025 drilling program has been highly successful, focusing on the Cleary, Dolphin, and WOW zones. Efforts have centered on infill drilling to support the PFS, refining both geological and resource models, and developing a conceptual higher-grade starter pit targeting 5-10 million ounces to enhance the project’s early economic potential. Mineralization remains open both to the east and west of the current deposit.

Kristina Walcott, President and CEO of Freegold, commented, ‘The potential scale of this deposit is truly amazing. Our current exploration efforts focused on defining an area to host an attractive potential starter pit, as we continue to move the project forward through PFS’.  Further infill drilling in early 2026 is expected to refine this area further.

Metallurgical Test Work
Metallurgical testing continues to evaluate the most viable process flowsheets for Golden Summit material. Gold recovery rates exceeding 90% have been achieved using a flowsheet that includes gravity concentration, flotation to produce a cleaner concentrate, and subsequent treatment with sulphide-oxidizing techniques such as BIOX®, POX, and the Albion Process, producing feed for carbon-in-leach (CIL) for additional gold recovery.  Simple gravity and CIL are also being evaluated. This testwork is crucial to maximize the resource’s potential and will underpin the many trade-off scenarios to be evaluated during the Pre-Feasibility stage.

Current Drilling Status
Five drill rigs are currently completing the final holes of the season. Drilling will gradually wind down for a seasonal break and resume in February 2026.

Dolphin Zone: Higher-Grade Potential
Recent drilling in the Dolphin zone confirms strong, continuous mineralization, with broad intercepts of higher grades. The near-surface intercept in GS2531 indicates promising potential for higher grades, supporting the concept of a potential higher-grade starter area.

At depth, hole GS2531 shows excellent correlation with the current model, with an intercept of 1.53 g/t Au over 191.3m within the modelled higher-grade schist domain. This corridor remains open to the southwest and extends into the intrusive domain at depth. Hole GS2542, drilled 200 m south of GS2531, aims to extend the zone downdip, with assays pending.  Several other holes are planned for this potential higher-grade domain in 2026, as it may serve as the economic keel for a potential starter pit.

Hole

Depth (m)

Dip (°)

Azimuth (°)

From (m)

To (m)

Interval (m)

Au (g/t)

GS2515

602.5

-80

360

84.4

99.7

15.3

3.00

142.3

147.5

5.2

0.81

175.3

181.7

6.4

13.53

227.9

232.8

4.9

3.06

303.9

313.0

9.1

1.71

396.2

416.6

20.4

0.79

GS2531

703.2

-90

360

35.6

38.7

3.1

9.33

53.9

62.7

8.8

2.05

81.4

83.8

2.4

9.51

102.4

143.5

41.1

1.06

330.3

361.5

31.2

0.87

386.2

577.5

191.3

1.53

Note: The reported widths refer to drill hole intercepts; true width cannot be determined due to the uncertain geometry of mineralization.

GS2515, drilled in the northern Dolphin Zone, intersected higher-grade mineralization with 3.0 g/t Au over 15.3m from 84.4 m, 13.53 g/t over 6.4m from 175.3m, and 3.06 g/t Au over 4.9m from 227.9 m. Like GS2531, located 250m to the south, GS2515’s higher-grade, closer-to-surface intercepts provide further encouragement for the development of a potential starter pit. Planned shallow infill drilling in 2026 will further target these areas.

Cleary Zone: Drilling Results Continuing to demonstrate strong correlation with resource model
Infill drilling within the Cleary Zone continues to demonstrate a strong correlation with the current resource model. Hole GS2508 returned 1.05 g/t Au over 120.7m, while hole GS2528 encountered four intervals with higher grades and widths, notably 1.6 g/t Au over 57.9m and 1.78 g/t Au over 61m, as well as two narrower, higher-grade sections. Hole GS2517, designated for hydrological investigation targeted the potential higher-grade downdip extent, was abandoned due to challenging ground conditions and complications arising from the attempted installation of a vibrating Wire Piezometer (VWP). VPWs are being installed to monitor groundwater levels throughout the prospective pit area, capturing both vertical and horizontal gradients to inform analyses of possible fault-block compartmentalization and support ongoing groundwater monitoring efforts. Eight installations were completed during 2025. A follow-up vertical hole, GS2549, was drilled from the same collar as GS2517 to access the target zone; assay results are pending.

Hole

Depth (m)

Dip (°)

Azimuth (°)

From (m)

To (m)

Interval (m)

Au (g/t)

GS2508

502

-75

360

224.6

345.3

120.7

1.05

364.8

373.7

8.9

0.91

GS2517*

593.4

-75

360

477.6

546.5

68.9

0.64

GS2524

413.3

-90

0

17.4

23.5

6.1

1.34

141.7

148.4

6.7

1.12

203.3

209.4

6.1

3.36

GS2528

721.2

-90

0

86.0

102.7

16.7

0.98

325.2

328.3

3.1

35.09

416.7

474.6

57.9

1.60

514.2

544.1

29.9

0.70

559.9

620.9

61.0

1.78

670.6

672.7

2.1

35.65

Note: The reported widths refer to drill hole intercepts; true width cannot be determined due to the uncertain geometry of mineralization. *Hole GS2517 was drilled for both infill and hydrogeological purposes.

Metallurgical Update: Environmental Characterization – Non-Acid-Generating Tailings
Recent metallurgical work results have also shown more positive developments. Tailings from the locked-cycle flotation tests were analyzed for environmental characterization, including Acid Base Accounting (ABA) and Toxicity Characteristic Leaching Procedures (TCLP). Tailings from the flotation-based flowsheet have been classified as low risk for acid generation due to the removal of sulphur and the presence of significant amounts of calcium carbonate. Gravity tailings from the CIL leach scenario also showed arsenic levels below acceptable limits. More specifically, results showed the Neutralization Potential to Acid Generating Potential ratio (NPR) of the flotation tailings was significantly above what is typically classified as non-acid generating.

About Golden Summit
Since 2020, the Golden Summit project has emerged as one of North America’s largest undeveloped gold resources. The increase in resource ounces and grade is attributed to targeted drilling campaigns (over 130,000 metres from 2020 to 2024), improvements to geological models, and a better understanding of mineralization controls. Positive metallurgical test results have further advanced the project. Ongoing drilling continues to delineate zones of higher-grade mineralization, converting previously considered waste areas into potentially economically viable zones.  Continued westward expansion has led to the discovery of new, higher-grade zones.

As of July 2025, the Golden Summit resource includes an Indicated Primary Mineral Resource of 17.2 million ounces at 1.24 g/t Au and an Inferred Primary Mineral Resource of 11.9 million ounces at 1.04 g/t Au, calculated using a 0.5 g/t cut-off grade and a three-year trailing average gold price of $2,490.

Drilling will continue into 2026, with upcoming results expected to support an updated resource estimate. A significant number of assay results remain pending.

Links to the Plan Map and Section 470505E

https://freegoldventures.com/site/assets/files/6287/nr-2025-drilling-20251204.jpeg

https://freegoldventures.com/site/assets/files/6287/e479050_section_04122025.pdf

QA/QC
HQ Core is logged, photographed and cut in half using a diamond saw. One half is placed in sealed bags for preparation and subsequent geochemical analysis by MSA Laboratories in Fairbanks, Alaska or ALS’s facilities in Vancouver and Thunder Bay.  At MSALABS, the entire sample will be dried and crushed to 70% passing -2mm (CRU-CPA). A ~500g riffle split was analyzed for gold using CHRYSOS PhotonAssay (CPA-Au1). From this, 250g will be further riffle-split from the original PhotonAssay sample, pulverized, and a 0.25g sub-sample analyzed for multi-element geochemistry using MSA’s IMS230 package, which includes 4-acid digestion and ICP-MS finish. MSALABS operates under ISO/IEC 17025- and ISO 9001-certified quality systems.

Core samples were delivered to ALS’s facility in Vancouver, Canada, where each sample was crushed to 70% passing a 2 mm (Tyler 9 mesh, U.S. Std. No. 10) screen.  A representative ~500 g subsample was obtained by riffle splitting (SPL-32a) and analyzed for gold using the ALS method Au-PA01 (Photon Assay), which provides a detection range of 0.03 to 350 ppm, in Thunder Bay.

In addition, a subsample was analyzed for multi-element geochemistry using the ALS method ME-ICP61 (34-element, four-acid ICP-AES).

A QA/QC program includes laboratory and field standards inserted in every ten samples. Blanks are inserted at the start of the submittal, and at least one blank every 25 standards.

The Qualified Person for this release is Alvin Jackson, P.Geo., Vice President of Exploration and Development for Freegold, who has approved the scientific and technical disclosure in this news release.

About Freegold Ventures Limited
Freegold is a TSX-listed company focused on exploration in Alaska.

Some statements in this news release contain forward-looking information, including, without limitation, statements as to planned expenditures and exploration programs, potential mineralization and resources, exploration results, the completion of an updated NI 43-101 technical report, and any other future plans. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the statements. Such factors include, without limitation, the completion of planned expenditures, the ability to complete exploration programs on schedule, and the success of exploration programs. See Freegold’s Annual Information Form for the year ended December 31st, 2024, filed under Freegold’s profile at www.sedar.com, for a detailed discussion of the risk factors associated with Freegold’s operations.

SOURCE Freegold Ventures Limited

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Starbucks to pay about $35M to NYC workers to settle claims it violated labor law

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Starbucks will pay about $35 million to more than 15,000 New York City workers to settle claims it denied them stable schedules and arbitrarily cut their hours, city officials announced Monday.

The company will also pay $3.4 million in civil penalties under the agreement with the city’s Department of Consumer and Worker Protection. It also agrees to comply with the city’s Fair Workweek law going forward.

A company spokeswoman said Starbucks is committed to operating responsibly and in compliance with all applicable local laws and regulations in every market where it does business, but also noted the complexities of the city’s law.

“This (law) is notoriously challenging to manage and this isn’t just a Starbucks issue, nearly every retailer in the city faces these roadblocks,” spokeswoman Jaci Anderson said.

Most of the affected employees who held hourly positions will receive $50 for each week worked from July 2021 through July 2024, the department said. Workers who experienced a violation after that may be eligible for compensation by filing a complaint with the department.

The $38.9 million settlement also guarantees employees laid off during recent store closings in the city will get the chance for reinstatement at other company locations.

The city began investigating in 2022 after receiving dozens of worker complaints against several Starbucks locations, and eventually expanded its investigation to the hundreds of stores in the city. The probe found most Starbucks employees never got regular schedules and the company routinely reduced employees’ hours by more than 15%, making it difficult for staffers to know their regular weekly earnings and plan other commitments, such as child care, education or other jobs.

The company also routinely denied workers the chance to pick up extra shifts, leaving them involuntarily in part-time status, according to the city.

Starbucks Workers United members and supporters picket outside a Starbucks in New York on Nov. 21.Michael Nagle / Bloomberg via Getty Images

The agreement with New York comes as Starbucks’ union continues a nationwide strike at dozens of locations that began last month. The number of affected stores and the strike’s impact remain in dispute by the two sides.

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Apple’s AI chief abruptly steps down

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Apple’s top artificial intelligence executive is stepping down and will retire in 2026, the company announced Monday.

John Giannandrea had been at Apple since 2018, where his official title was senior vice president for machine learning and AI strategy.

He will be replaced by Amar Subramanya, who comes to Apple after a brief stint as corporate vice president of AI at Microsoft and more than a decade at Google.

Subramanya will report to one of CEO Tim Cook’s deputies, Craig Federighi, rather than to Cook directly, as Giannandrea had.

‘AI has long been central to Apple’s strategy, and we are pleased to welcome Amar to Craig’s leadership team and to bring his extraordinary AI expertise to Apple,’ Cook said Monday.

The abrupt change at a company known for its careful succession planning highlights Apple’s challenge as it tries to compete with top AI developers such as Google, ChatGPT owner OpenAI, Meta and Microsoft.

Earlier this year, Apple delayed the release of an upgraded version of Siri with AI powered features. At the time, it said it was going to ‘take us longer than we thought’ to develop the new version.

The company said it anticipated rolling out new features ‘in the coming year,’ but it has not offered any more specifics.

‘We’re making good progress on it, and, as we’ve shared, we expect to release it next year,’ Cook said on the company’s quarterly earnings call in late October.

“With Apple Intelligence, we’ve introduced dozens of new features that are powerful, intuitive, private and deeply integrated into the things people do every day,” Cook said on the Oct. 30 call

The company is targeting the spring to release the upgraded Siri, Bloomberg News recently reported.

When a user grants permission, Siri can tap into ChatGPT’s broad world knowledge and present an answer directly.Apple

While Apple’s iOS and macOS are integrated with ChatGPT, those features are somewhat limited.

In recent weeks, Apple has reportedly neared deals to integrate with Google’s Gemini, as well as AI models from Perplexity and Anthropic.

Apple introduced Apple Intelligence on June 10, 2024.Apple

Apple’s stock has also felt the effect of what some perceive to be its lagging AI services.

This year, Apple shares have returned 13%, which tops both Amazon and Microsoft. But shares of Oracle have popped 20%, Nvidia has surged 34%, and Google parent company Alphabet has soared 65%.

Still, Apple remains the world’s second-largest publicly traded company, with a market value of $4.2 trillion, behind only Nvidia.

Overall, the S&P 500 has risen almost 16% this year.

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Shopify says a daylong Cyber Monday outage has been resolved

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Outages on Shopify’s e-commerce platform have been resolved, the company said late Monday, bringing to an end a daylong glitch on the annual ‘Cyber Monday’ shopping day.

Some merchants that use Shopify’s service to sell goods online said they experienced issues with checkouts through the company’s point-of-sale system.

Businesses that run on Shopify also had trouble logging into their administrative portals.

In a statement, Shopify said: ‘We had a system degradation that has now been mitigated.’

Throughout the day, business owners posted angry messages directed at the company on X, where Shopify President Harvey Finkelstein had posted ‘HAPPY CYBER MONDAY! Let’s finish strong!’ earlier in the day, with an emoji of a flexed arm.

One business, Costack Spices, based in London, replied: ‘How??? [We] cannot fulfill orders or log on,’ with three red-faced emojis. In a follow-up, the company posted, ‘This is unbelievable.’

Another user wrote, ‘@ShopifySupport I haven’t been able to access it for the last couple hours.’

Shopify replied to most users on X with the same message: ‘We are aware of an issue with Admins impacting selected stores, and are working to resolve it.’

In 2024, merchants using Shopify services recorded $11.5 billion in sales from Black Friday through Cyber Monday, the company said, with more than 76 million customers buying from businesses powered by the platform.

Shopify provides website design tools, online checkout services and digital advertising products to businesses of all sizes. The company says that millions of merchants use its services.

While Shopify’s share of Cyber Monday sales may be limited, smaller businesses that rely on the company to process their transactions may have missed out on crucial sales at the start of the all-important holiday season.

Total Cyber Monday sales are expected to be more than $53 billion, according to Salesforce.

Shopify stock ended the trading day down 5.9%.

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Dell family donation to offer 25 million kids $250 to open ‘Trump accounts’

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Tech billionaires Michael and Susan Dell announced Tuesday that they are pledging $6.25 billion to create some 25 million additional ‘Trump Accounts’ for children across the country.

These accounts will be seeded with $250 each, and available for children who missed the eligibility cutoff for the $1,000 federally funded ‘Trump Accounts’ for babies born after Jan. 1, 2025.

Children living in ZIP codes with median incomes below $150,000 will be the first to receive the funds, the White House said.

‘The greatest investment that we could possibly make is in children,’ Susan Dell said alongside President Donald Trump at the White House.

‘It’s really an amazing moment that two people would do that kind of a contribution,’ Trump said.

The president said he was also talking to other wealthy donors and friends to potentially make similar contributions.

Michael Dell; President Donald Trump.Errich Petersen; Chip Somodevilla / Getty Images

Asked how this donation came to be, Michael Dell said: ‘We started talking about Texas only at the beginning. And then we thought about it some more, and we went back and forth, as we do on these things, and this is where we ended up.’

The Dells said they considered making the pledge for a long time. But they said they didn’t want the pledge to be the end of their involvement.

Michael Dell encouraged states to ‘really grow financial literacy’ to help educate families about how the accounts and markets work.

‘These deposits will reach the accounts of most children age 10 and under who were born prior to the qualifying date for the federal newborn contribution,’ the Dells said in a statement issued by their foundation.

‘Children older than 10 may benefit, too, if funds remain available after initial sign-ups,’ the Dell family said. ‘It is an incredibly practical and direct step to help families begin saving today.’

The Dells say they ‘believe this effort will expand opportunity, strengthen communities, and help more children take ownership of their future.’

The Dell family gift “is expected to reach nearly 80% of children age 10 and under across 75% of U.S. zip codes,” according to the nonprofit Invest America.

Children born after Jan. 1 and until Dec. 31, 2028, will receive an account infused with a $1,000 investment from the U.S. Treasury, as part of the recently passed One Big Beautiful Bill.

The accounts will open and begin accepting contributions starting on July 4, 2026. The accounts will initially be held by a financial firm designated by the Treasury Department, but later will be able to be transferred to any brokerage firm.

Those accounts will also be eligible for additional contributions of up to $5,000 per year until the beneficiary child reaches age 18. Withdrawals from the accounts are not permitted until the children reach that age.

Trump accounts can be invested only in low-cost index funds or ETFs that either mirror the S&P 500 or ‘another American stock index,’ according to the White House Council of Economic Advisers.

‘These investment accounts are simple, secure, and structured to grow in value through market returns over time,’ the Dell family said.

‘Trump Accounts represent a potentially valuable tool for building up savings and tapping the power of compound growth for the young,’ Charles Schwab tax planning director Hayden Adams recently wrote.

If a family could contribute and invest the maximum $5,000 per year in the accounts, and with a reasonable growth rate of about 6%, ‘by age 18, the child’s account would hold around $191,000 in assets.’

Once a child turns 18, the accounts are eligible to be converted to a traditional individual retirement account, ‘meaning it could continue to accumulate potential gains on a tax-free basis’ for many years.

The Dells are one of the wealthiest families in America, with a fortune of nearly $150 billion, according to Bloomberg Billionaires. The family’s primary source of wealth is Dell Technologies, the company founded by Michael Dell in 1984.

In recent years, the value of Dell shares have been fueled by the booming AI revolution, for which Dell is a supplier of servers and other technology.

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Prada Group says it has purchased fashion rival Versace in a deal worth nearly $1.4 billion

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MILAN — The Prada Group announced Tuesday that it has officially purchased Milan fashion rival Versace in a 1.25 billion euro (nearly $1.4 billion) deal that puts the fashion house known for its sexy silhouettes under the same roof as Prada’s “ugly chic” aesthetic and Miu Miu’s youth-driven appeal.

The highly anticipated deal is expected to relaunch Versace’s fortunes, after middling post-pandemic performance as part of the U.S. luxury group Capri Holdings.

Prada said in a one-line statement that the acquisition had been completed after receiving all regulatory clearances.

Prada heir Lorenzo Bertelli will steer Versace’s next phase as executive chairman, in addition to his roles as group marketing director and sustainability chief.

The son of co-creative director Miuccia Prada and longtime Prada Group chairman Patrizio Bertelli has said he doesn’t expect to make any swift executive changes at Versace. But Bertelli has said that the company, which places among the top 10 most recognized brands in the world, has long been underperforming in the market.

Prada has underlined that the 47-year-old Versace brand offered “significant untapped growth potential.’’

Versace has been in the midst of a creative relaunch under a new designer, Dario Vitale, who previewed his first collection during Milan Fashion Week in September. He had previously been head of design at Miu Miu, but his move to Versace was unrelated to the Prada deal, executives have said.

Capri Holdings, which owns Michael Kors and Jimmy Choo, paid $2 billion for Versace in 2018, but had been struggling to position Versace’s bold profile in the recent era of “quiet luxury.″

Versace represented 20% of Capri Holdings 2024 revenue of 5.2 billion euros. An analyst presentation for the Prada deal said that Versace would represent 13% of the Prada Group’s pro-forma revenues, with Miu Miu coming in at 22% and Prada at 64%. The Prada Group, which also includes Church’s footwear, reported a 17% boost in revenues to 5.4 billion euros last year.

The Prada Group has already begun preparations to incorporate crosstown rival Versace into its Italian manufacturing system, a point of pride for the group.

“Making a bag for one brand or another, the know-how is the same,″ Bertelli told reporters last week at the group’s Scandicci leather goods factory, which already makes bags for the Prada and Miu Miu brands and will soon add Versace.

The Prada Group’s has invested 60 million euros in its supply chain this year, including a new leather goods factory near Siena, a new knitwear factory near Perugia as well as increasing production at its factory Church’s footwear factory in Britain and expanding another Tuscan factory. That’s on top of 200 million euros in investments from 2019-24.

Prada’s efforts include an academy that has trained some 570 new artisans over the last 25 years in an in-house training academy operating in the Tuscany, Marche, Veneto and Umbria regions.

Last year, Prada hired 70% of the 120 artisans who trained in the academy. The number of trainees rose by 28% to 152 this year.

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