Author

admin

Browsing

On Thursday (July 31) Statistics Canada released gross domestic product figures for May. The data shows the Canadian economy shrank for the second month in a row, edging down by 0.1 percent.

The decline was headlined by decreases in the resource sector, which posted a 1 percent contraction, led by a 2.1 fall in the mining and quarrying subsector. Oil and gas extraction was also down, recording a drop of 0.8 percent, marking the first back-to-back months of negative growth for the subsector since April and May 2023.

However, the agency reported that advance figures for June show a reversal, with its data indicating a 0.1 percent growth during the month, and flat GDP for the second quarter. StatsCan will post its official figures on August 29.

The Bank of Canada held its rate meeting this week, opting to hold its interest rate steady at 2.75 percent, citing resilience in the economy despite the trade dispute with the United States.

The economic news comes against a backdrop of tariff threats from the United States. In July, the White House vowed to increase the tariff rate of non-CUSMA-compliant goods from Canada from the 25 percent imposed earlier in the year to 35 percent if a deal wasn’t negotiated by the August 1 deadline.

On Thursday evening, the night before the deadline, Donald Trump signed an executive order increasing levies on goods entering the US from Canada. While CUSMA-compliant goods are largely exempt, the new tariff rate will have a significant impact on Canada’s auto, steel and softwood lumber industries.

Canada is not alone, as new tariffs rates will be applied on imports from all countries that were part of his original April 2 announcement. Those countries that have successfully negotiated agreements will also pay tariffs, but at a lower rate. However, the US also announced that it won’t begin collecting tariffs on imports until August 7. The delay is intended to allow more time for completing negotiations and for US Customs to adjust to the new policy.

The United States also released a slew of economic news this week, with fresh GDP, inflation and jobs data.

The US Bureau of Economic Analysis (BEA) released its second-quarter advance GDP estimate on Wednesday (July 30). While it shows solid growth of 3 percent after a 0.5 decline in the first quarter, analysts suggest it may be masking underlying weakness in the overall economy.

Decreases in Q1 were mainly due to a rise in imports, which are deducted from GDP calculations, as companies stockpiled goods in anticipation of US tariffs taking effect. However, the second quarter’s increase was due to companies reducing imports and working through their pre-tariff stockpiles.

US GDP is up a modest 1.2 percent since the start of the year, well below the 2.5 percent growth rate in 2024.

On Thursday, the US BEA released its personal consumption expenditures index (PCE) data. The report shows that inflation surged to 2.6 percent in June on an annual basis, above analysts’ expectations of a 2.5 percent rise and up from May’s 2.4 percent. Less the volatile food and energy categories, PCE came in at 2.8 percent, matching numbers from the previous month.

How much tariffs played a role in that increase is uncertain, but the PCE is a critical factor for the Federal Reserve’s decision in setting its benchmark Federal Funds Rate.

The central bank board met for its July meeting on Tuesday (July 29) and Wednesday, and ultimately decided to continue to hold the rate at 4.25 to 4.5 percent. Although it noted there was less uncertainty compared to its last meeting, Powell noted that they were still unsure whether inflation due to tariffs would be a one-time increase or if it would have longer-term implications.

Finally, the US Bureau of Labor Statistics released July’s nonfarm payroll report on Friday (August 1), reporting that an estimated 73,000 jobs were added to the economy in July. While additional government and business reports resulted in significant downward revisions to the initial May and June job estimates, dropping May’s numbers from 144,000 to 19,000 added jobs and June’s from 147,000 to 14,000. The figures indicate a rapid slowdown in employment growth in the United States.

Outside of the pandemic, employment growth in the United States has recorded the slowest start to the year since 2010.

Following the report’s release, Trump fired Bureau of Labor Statistics Commissioner Erika McEntarfer, accusing her without evidence of manipulating job data to make him look worse. The decision has drawn wide-spread criticism and concern that government sources on economic data will no longer be trustworthy.

Markets and commodities react

In Canada, equity markets were negative this week as Canada was unable to secure a deal with the United States. Although it reached a new all-time high Wednesday, the S&P/TSX Composite Index (INDEXTSI:OSPTX) ultimately declined 1.3 percent over the week to close at 27,020.43 on Friday. The S&P/TSX Venture Composite Index (INDEXTSI:JX) fell further, moving down 5.08 percent to 761.21. The CSE Composite Index (CSE:CSECOMP) was the lone gainer, rising 0.76 percent to 134.37.

US equity markets were broadly down on Friday on the new US tariffs and poor job data. The S&P 500 (INDEXSP:INX) fell 2.07 percent to 6,238.00, the Nasdaq 100 (INDEXNASDAQ:NDX) dropped 1.89 percent to 22,763.31 and the Dow Jones Industrial Average (INDEXDJX:.DJI) shed 2.61 percent to 43,588.57.

In precious metals, after falling mid-week, the gold price rebounded sharply on Friday, ultimately ending the week up 0.77 percent to US$3,362.94 by Friday at 4 p.m. EDT. Meanwhile, the silver price dropped dramatically during the week. While it also bounced Friday, it still fell 5.66 percent to US$37.01.

In base metals, copper prices plummeted 23.16 percent to US$4.48 per pound after President Trump announced refined copper exemptions to the 50 percent copper tariff earlier in the week. The S&P GSCI (INDEXSP:SPGSCI) was up mid-week but slumped on Friday, registering a 0.57 percent loss to finish the week at 545.59.

Top Canadian mining stocks this week

How did mining stocks perform against this backdrop?

Take a look at this week’s five best-performing Canadian mining stocks below.

Stock data for this article was retrieved at 4 p.m. EDT on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market capitalizations greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.

1. Helius Minerals (TSXV:HHH)

Weekly gain: 72.94 percent
Market cap: C$48.93 million
Share price: C$1.47

Helius Minerals is a precious metals exploration company with a portfolio of assets in Nevada and Brazil.

The company has spent the first part of the year fundraising in support of the acquisition of Colossus Minerals and its 75 percent stake in the Serra Pelada gold-platinum-palladium project in the Para state of Brazil.

In 2009, Colossus reported significant assay results following its early exploration of the site, with one drill hole returning 8.04 grams per metric ton (g/t) gold, 154.5 g/t platinum and 245.8 g/t palladium.

The company had already completed most of the construction for the underground mine in 2013 when its dewatering measures at the site failed to prevent water ingress in the mine. Colossus was not able to finance the work necessary to fix the issues and became insolvent, putting the mine on care and maintenance.

In 2023, Colossus’ former geologist Christian Grainger was named Helius President and CEO.

On May 8, Helius reported that Colossus shareholders approved the sale of the company and its assets. Under the terms of the deal, Helius said it has a 12 month exclusivity period to conduct financing and also to develop a plan that is compliant with local mining laws and regulations. It also stated that it will need to address outstanding debts and a rehabilitation strategy for the site.

Shares gained this week, but the company has not issued further news.

2. Labrador Gold (TSXV:LAB)

Weekly gain: 58.82 percent
Market cap: C$20.4 million
Share price: C$0.13

Labrador Gold is an explorer focused on the advancement of its assets in Newfoundland and Labrador, and Ontario, Canada.

The company owns the Hopedale gold project in Eastern Labrador. The site hosts 998 claims and five licenses covering an area of 249 square kilometers in the Florence Lake greenstone belt.

In an announcement on February 8, the company reported high-grade gold from 2023 rock samples at the Fire Ant target, with grades of up to 106 g/t gold and 20.4 g/t silver. Additional rock and soil samples from other targets at Hopedale show grades of up to 0.28 percent nickel, 0.97 percent zinc and 3,493 parts per million copper.

Labrador also owns the Borden Lake project near Timmins, Ontario. Exploration at the site has been limited, mainly consisting of till samples and geophysical surveys to target areas for drill testing.

In a news release on February 19, Labrador said it was planning to conduct exploration work at both properties in 2025. On June 19 the company announced that it had mobilized to the Hopedale property and would focus on an area along the Thurber Gold trend at the northern portion of the site. It did not provide an update on exploration at the Borden Lake.

The company has not released news in the past week.

3. Torq Resources (TSXV:TORQ)

Weekly gain: 52.94 percent
Market cap: C$21.37 million
Share price: C$0.13

Torq Resources is an exploration company working to advance its Santa Cecilia gold and copper project in Chile.

Torq acquired the property through an option agreement in October 2021. The company can earn a 100 percent stake in the property if it makes a total of US$25 million before October 21, 2028, and exploration expenditures of US$15.5 million by October 21, 2025.

The deal will also see the original owner retain a 3 percent net smelter return, half of which can be purchased by Torq based on the fair value of the project.

The site covers an area of 3,250 hectares and lies adjacent to the Newmont (TSX:NGT,NYSE:NEM) and Barrick Mining (TSX:ABX,NYSE:B) owned Norte Abierto project, the fourth largest undeveloped gold project in the world.

In late 2024, Torq entered into a joint venture with Gold Fields (NYSE:GFI), in which Gold Fields can earn up to a 75 percent indirect interest in the project through a US$48 million investment over six years, with minimum annual spending of US$6 million.

On July 17, Torq completed the first drill program at the project under the joint venture, The work consisted of five holes covering 4,062 meters and was designed to test the undrilled Gemelos Norte target and to follow up on the Pircas Norte target discovered during the 2024 drill campaign.

Torq’s most recent announcement came on July 31, when it terminated its option to acquire the Margarita project in Chile due to financial constraints and a shift in focus to Santa Cecilia. It also said it would retain its 100 percent interest in the La Cototuda concession, which is surrounded by Margarita and which it believes would be necessary for any future development at Margarita.

4. Happy Creek (TSXV:HPY)

Weekly gain: 41.18 percent
Market cap: C$18.45 million
Share price: C$0.12

Happy Creek Minerals is an explorer focused on advancing a portfolio of assets in British Columbia, Canada.

Its primary focus has been on its Fox tungsten property located in the South Caribou region of the province. It comprises 135.9 square kilometers of mineral tenure and hosts deposits containing tungsten, molybdenum, zinc, indium, gold and silver. In total, 21,125 meters of exploration drilling have been carried out at the site.

The most recent news came on July 16 when Happy Creek announced a non-brokered private placement to raise gross proceeds of up to C$3.25 million in flow-through units at C$0.07 per share and non-flow-through units at C$0.05 per share. The following day, Happy Creek upsized the offering to C$3.75 million.

The company plans to use the gross proceeds for drilling, exploration and development at Fox, as well as other exploration work in the Caribou.

5. Star Copper (TSXV:STCU)

Weekly gain: 38.78 percent
Market cap: C$58.81 million
Share price: C$2.04

Star Copper is an exploration company with a portfolio of assets in British Columbia.

Its flagship Star project, located in BC’s Golden Triangle, consists of 19 mineral claims covering an area of 6,829 hectares of crown lands. The property hosts five high-priority targets, which have seen exploration dating back to 2013.

The most recent exploration update from Star came on Tuesday, when the company provided a summary of its ongoing drill program at the site and said it was halfway through a six-hole, 4,000 meter drill campaign designed to test mineralized zones laterally and at depth.

The company has also been advancing work at its Indata property, where it holds a 60 percent optioned interest. The site in northern BC consists of 16 mineral claims across 3,189 hectares and hosts mineralization of copper, gold and molybdenum.

In a July 10 news release, the company reported that soil grids that were deployed to test for gold and copper have also returned clusters of anomalous antimony that exceed 100 parts per million over 5 kilometers.

Additionally, the company announced on July 16 that it had entered into an agreement to acquire a 100 percent interest in the Copperline property in North-central BC. The project consists of eight mineral claims covering 4,502 hectares and exploration at the site has produced a highlighted assay of 2.54 percent copper, 50.4 g/t silver over 25 meters.

FAQs for Canadian mining stocks

What is the difference between the TSX and TSXV?

The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.

How many mining companies are listed on the TSX and TSXV?

As of February 2025, there were 1,572 companies listed on the TSXV, 905 of which were mining companies. Comparatively, the TSX was home to 1,859 companies, with 181 of those being mining companies.

Together the TSX and TSXV host around 40 percent of the world’s public mining companies.

How much does it cost to list on the TSXV?

There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

How do you trade on the TSXV?

Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.

Article by Dean Belder; FAQs by Lauren Kelly.

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

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

This post appeared first on investingnews.com

Investor Insight

In the current strong market dynamic for uranium, Skyharbour Resources is a compelling investment opportunity driven by its large portfolio of exploration assets in Canada’s most prolific uranium district in the Athabasca Basin.

Overview

Nuclear energy is a key driver in the transition to net zero, offering clean, reliable, and secure power to meet global electricity demand, which is expected to grow by 50 percent in 2040.

Skyharbour Resources (TSXV:SYH,OTCQX :SYHBF,FWB:SC1P) is strategically positioned to support this growing demand through its high-grade uraniumprojects. As a leading uranium exploration company, Skyharbour partners with industry stakeholders to advance projects that contribute to the secure and sustainable energy future nuclear power promises.

Skyharbour has launched its winter drill program at the Russell Lake uranium project, initiating its planned 16,000–18,000 metre campaign across 35–45 holes at its co-flagship Russell Lake and Moore projects. A total of 11,000 to 12,000 metres will be drilled at Russell Lake, along with an additional 5,000 to 6,000 metres at Moore Lake in 2025. This initial phase at Russell will focus on exploring the project’s significant upside potential, leveraging its widespread uranium mineralization and favorable geology for large, high-grade Athabasca Basin uranium deposits.

Company Highlights

  • Skyharbour Resources is a junior mining company with an extensive portfolio of uranium exploration projects in Canada’s Athabasca Basin. They comprise 37 uranium projects, totaling over 616,000 hectares.
  • The Athabasca Basin is the world’s most prolific uranium jurisdiction, boasting uranium grades averaging over 10-20 times higher than those found elsewhere.
  • The company employs a multi-faceted strategy of focused mineral exploration at its core projects (Russell and Moore) while utilizing the prospect generator model to advance its secondary projects with strategic partners.
  • The company’s co-flagship Moore project is an advanced-stage uranium exploration asset featuring high-grade uranium mineralization at the Maverick Zone. Previous drilling has returned results of 6 percent U3O8 over 5.9 meters, with a notable intercept of 20.8 percent U3O8 over 1.5 meters, at a vertical depth of 265 meters.
  • Adjacent to the Moore project is Skyharbour’s second core project, the Russell Lake uranium project, wherein Skyharbour has completed the acquisition of 57.7 percent interest from Rio Tinto. The Russell Lake uranium project is a large, advanced-stage uranium exploration property totaling 73,314 hectares.
  • The 2024 winter drill program at the Russell Lake uranium project led to a new discovery of high-grade, sandstone-hosted mineralization up to 2.99 percent U3O8 intersected over 0.5 meters.
  • Skyharbour has commenced its 2025 winter drill program at the Russell Lake uranium project with plans to complete an initial 5,000-metre diamond drilling program in 10 to 12 holes at the project
  • Fully-funded for combined drilling of 16-18,000m in 35-45 drill holes across Russell and Moore Lake Projects
  • 15-16,000 metres of additional drilling funded by partner companies at other projects in the Skyharbour’s prospect generator business including 6-7,000m of drilling by strategic partner Orano at the Preston project
  • Management intends to continue building the prospect generator business by offering projects to partners who will fund the exploration and provide cash/stock to Skyharbour for an ownership interest in the projects; Skyharbour typically retains minority interests in the projects and equity holdings in the partners.
  • The increasing focus on nuclear energy by governments globally to achieve decarbonization goals bodes well for uranium prices. Skyharbour, with key uranium assets in a top mining jurisdiction, stands to benefit from this shift in the global energy mix.

Flagship Projects

The Moore Project

This project covers an area of 35,705 hectares, located in the eastern Athabasca Basin near existing infrastructure with known high-grade uranium mineralization and significant discovery potential. Skyharbour acquired the project from Denison Mines (TSX:DML), a large strategic shareholder of the company. The project can be easily accessed year-round via winter and ice roads, streamlining logistics and reducing expenses. During the summer months, a significant portion of the property remains accessible as well. The property has been the subject of extensive historic exploration with over $50 million in expenditures, and over 140,000 meters of diamond drilling completed historically.

Moore hosts high-grade uranium mineralization at the Maverick zones. Over the past few years, Skyharbour Resources has conducted diamond drilling programs, resulting in the intersection of high-grade uranium mineralization in numerous drill holes along the 4.7-kilometer-long Maverick structural corridor. Some of the high-grade intercepts include:

  • Hole ML-199 which intersected 20.8 percent U3O8 over 1.5 meters at 264 meters,
  • Hole ML-202 from the Maverick East Zone which intersected 9.12 percent U3O8 over 1.4 meters at 278 meters.
  • Hole ML20-09 which intersected 0.72 percent U3O8 over 17.5 meters from 271.5 meters to 289.0 meters, including 1 percent U3O8 over 10.0 meters represents the longest continuous drill intercept of uranium mineralization discovered to date at the project.
  • Drill hole ML-61 returned 4.03 percent eU3O8 over 10 meters;
  • Drill hole ML -55 encountered high-grade mineralization, returning 5.14 percent U3O8 over 6.2 meters
  • Drill hole ML -47 intersected 4.01 percent U3O8 over 4.7 meters

Merely 50 percent of the total 4.7-kilometer promising Maverick corridor has undergone systematic drilling, indicating significant discovery potential both along its length and within the underlying basement rocks at depth. Skyharbour completed a 2024 winter drill program which consisted of 2,800m of drilling at the project which focused on infill/expansion drilling at the Main Maverick Zone. Assay results from the program intersected 5 metres of 4.61 percent U3O8 from a relatively shallow downhole depth of 265.5 metres to 270.5 metres including 10.19 percent U3O8 over 1 metre at the Main Maverick Zone from hole ML24-08. The Company recently received the remaining assay results from its late 2024 diamond drilling program, which totaled 2,759 metres in nine holes. Of the nine holes, four holes (ML24-10 to -12 and ML24-18) focused on the Main Maverick Zone and five holes (ML24-13 to -17) on the Maverick East Zone.

The primary objective of the summer program was to extend and expand the boundaries of the Main Maverick and Maverick East Zones with all but one hole successfully intersecting uranium mineralization. Drill hole ML24-15 which intersected 6.4 m of 1.50% U3O8 successfully expands the Maverick East zone over 40 metres along strike to the northeast with more drilling warranted in the area.

Skyharbour is planning for an additional, fully-funded 4,500 – 5,000 metres of drilling at the Main Maverick and Maverick East Zones to further expand, characterize and define the extents of the mineralized zones.

Apart from the Maverick Zone, diamond drilling in various other target areas has encountered multiple conductors linked with notable structural disturbances, robust alteration, and anomalous concentrations of uranium and associated pathfinder elements.

Russell Lake Uranium Project

The Russell Lake project is a large, advanced-stage uranium exploration property spanning 73,314 hectares, strategically positioned between Cameco’s Key Lake and McArthur River projects. Skyharbour has completed its earn-in requirements for an option agreement with Rio Tinto and has now acquired 57.7 percent ownership interest in the Russell Lake project.

The project is adjacent to Denison’s Wheeler River project and Skyharbour’s Moore uranium project. It is supported by excellent infrastructure in terms of highway access as well as high-voltage power lines. The project has undergone a significant amount of historical exploration which includes over 95,000 meters of drilling in over 220 drill holes. The exploration identified numerous prospective target areas and several high-grade uranium showings as well as drill hole intercepts.

The property hosts several noteworthy exploration targets, including the Grayling Zone, the M-Zone Extension target, the Little Man Lake target, the Christie Lake target, and the Fox Lake Trail target. Skyharbour completed a 19-hole drilling program totaling 9,595 meters in three phases in 2023. The initial drilling phase encompassed 3,662 meters across eight completed holes at the Grayling Zone, followed by a second phase involving four holes totaling 2,730 meters drilled at the Fox Lake Trail Zone. The third drilling phase involved 3,203 meters across seven holes targeting additional areas within the Grayling Zone.

Drilling at Russell in 2024 was completed in two separate phases with a total of 3,094 metres drilled in six holes. Phase One of drilling resulted in the best intercept of uranium mineralization historically on the property from hole RSL24-02, which returned a 2.5 metre wide intercept of 0.721 percent U3O8 at a relatively shallow depth of 338.1 metres, including 2.99 percent U3O8 over 0.5 metres at 339.6 metres just above the unconformity in the sandstone. The second phase of drilling was recently completed which totalled approximately 4,500 metres, with assays pending.

Skyharbour has recently commenced its 2025 drilling program at the Russell Lake project with a first phase consisting of approximately 5,000 metres to follow up on notable recent exploration success and to test new targets developed by the geological team. The focus for this phase of drilling will be on the Fork and Sphinx targets within the broader Grayling target area, as well as the M-Zone Extension target and the Fox Lake Trail target. This initial winter program will consist of 10 to 12 drill holes, with most of the targets being road accessible and near the exploration camp, bringing the drill costs down.

Prospect Generator Strategy

In addition to being a high-grade uranium exploration and early stage development company, Skyharbour utilizes a prospect generator strategy by bringing in partner companies to acquire interests in some of our secondary projects by funding exploration at these projects and making cash and share payments to Skyharbour over a period of time. This model allows the Company to focus efforts and capital at our core projects which include the Moore Lake and Russell Lake Projects, while having our JV and option partner companies fund and advance our secondary projects.

Skyharbour partner companies include Orano Canada, Azincourt Energy, Thunderbird Resources, Basin Uranium Corp., North Shore Uranium and Terra Clean Energy, advancing the Preston, East Preston, Hook Lake, Mann Lake, Falcon and South Falcon East Projects, respectively. More recently, three new earn-in option agreements have been signed with UraEx Resources at the South Dufferin and Bolt Projects, Hatchet Uranium at the Highway Project, and Mustang Energy at the 914W Project, bringing the total partner companies to nine. Skyharbour now has option agreements that total over CAD $36 million in exploration expenditures, over $20 million in stock being issued and $14 million in cash payments coming into Skyharbour, assuming that these partner companies complete their full earn-ins at their respective projects.

Furthermore, Skyharbour’s project portfolio is bolstered by several other 100% owned projects scattered throughout the Athabasca Basin that they can look to option/JV or sell to grow their robust model.

Management Team

Jordan Trimble – President and CEO

With a background in entrepreneurship, Jordan Trimble has held various positions in the resource industry, focusing on management, corporate finance, strategy, shareholder communications, business development, and capital raising with multiple companies. Prior to his role at Skyharbour, he was the corporate development manager at Bayfield Ventures, a gold company with projects in Ontario. Bayfield Ventures was subsequently acquired by New Gold (TSX:NGD) in 2014. Throughout his career, Trimble has established and assisted in the management of numerous public and private enterprises. He has played a pivotal role in securing significant capital for mining companies, leveraging his extensive network of institutional and retail investors.

Jim Pettit – Chairman of the Board

Jim Pettit currently serves as a director on the boards of various public resource companies, drawing from over 30 years of experience in the industry. His expertise lies in finance, corporate governance, management and compliance, particularly in the early-stage development of both private and public enterprises. Over the past three decades, he has primarily focused on the resource sector. Previously, he served as chairman and CEO of Bayfield Ventures, which was acquired by New Gold in 2014.

David Cates – Director

David Cates currently serves as the president and CEO of Denison Mines (TSX:DML). Before assuming the role of president and CEO, Cates was the vice-president of finance, tax, and chief financial officer at Denison. In his capacity as CFO, he played a pivotal role in the company’s mergers and acquisitions activities, including spearheading the acquisition of Rockgate Capital and International Enexco. Cates joined Denison in 2008, initially serving as director of taxation before he was appointed CFO. Prior to joining Denison, he held positions at Kinross Gold and PwC with a focus on the resource industry.

Joseph Gallucci – Director

Joseph Gallucci was previously a senior manager at a leading Canadian accounting firm. He possesses more than two decades of expertise in investment banking and equity research, specializing in mining, base metals, precious metals, and bulk commodities worldwide. He serves as a senior capital markets executive and corporate director. Presently, Gallucci is the managing director and head of investment banking at Laurentian Bank Securities, where he assumes responsibility for overseeing the entire investment banking practice.

Brady Rak – VP of Business Development

Brady Rak is a seasoned investment professional who has focussed on the Canadian capital markets over his 13-year career at several independent broker dealers including Ventum Financial, Salman Partners and Union Securities. As a registered investment advisor in the private client division of Ventum Financial, Brady has been involved in advising high-net-worth and corporate clients, structuring transactions, raising capital and navigating global market sentiment. Brady graduated from Northwood University with a BBA in Management and holds his Options license.

Serdar Donmez – Vice-president of Exploration

A recognized geoscientist with decades of experience in uranium exploration and development, Serdar Donmez has played an active role in numerous grassroots and advanced uranium exploration projects in northern Saskatchewan and Zambia. Donmez has an engineering degree in geology and is a registered professional geoscientist with the Association of Professional Engineers and Geoscientists of Saskatchewan. During his 17-year tenure at Denison Mines, Donmez was pivotal in advancing numerous uranium exploration and development projects. He was involved in various capacities with the Phoenix and Gryphon uranium deposits on Denison’s Wheeler River project, from initial discovery to the completion of the feasibility study in 2023. As resource geology manager, he was integral to the development of mineral resource estimates and NI 43-101 technical reports for several advanced exploration projects in the Athabasca Basin. Additionally, he was part of a team exploring the application of in-situ recovery mining techniques for high-grade uranium deposits in the Athabasca Basin.

Dave Billard – Head Consulting Geologist

Dave Billard is a geologist with over 35 years of experience in exploration and development, focusing on uranium, gold and base metals in western Canada and the western US. He served as chief operating officer, vice-president of exploration, and director for JNR Resources before its acquisition by Denison Mines. He played a crucial role in the discovery of JNR’s Maverick and Fraser Lakes B zones. Earlier in his career, he contributed to the discovery and development of several significant gold deposits in northern Saskatchewan. Prior to joining JNR, Billard worked as a geological consultant specializing in uranium exploration in the Athabasca Basin. He also spent over 12 years with Cameco Corporation.

Christine McKechnie – Senior Project Geologist

Christine McKechnie is a geologist with a specialization in uranium deposits, particularly those hosted in the basement and associated with unconformities in the Athabasca Basin and its vicinity. Throughout her career, she has worked with various companies such as Claude Resources, JNR Resources, CanAlaska Uranium and Cameco, engaging in gold and uranium exploration activities. She completed her B.Sc. (High Honors) in 2008 from the University of Saskatchewan and completed a M.Sc. thesis on the Fraser Lakes Zone B deposit at the Falcon Point project. She also received the 2015 CIM Barlow Medal for Best Geological Paper.

This post appeared first on investingnews.com

 

  NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES  

 

Stallion Uranium Corp. (the ‘ Company ‘ or ‘ Stallion ‘ ) ( TSX-V: STUD ; OTCQB: STLNF ; FSE: FE0 ) further to its news release of July 8 th 2025, the Company provides certain updates in respect of its technology licensing agreement dated July 7 th 2025 (the ‘ Technology Licensing Agreement ‘), amongst the Company and Matthew J. Mason (the ‘ Lessor ‘). The Lessor holds the exclusive license to certain proprietary technology and know-how that can be used to assist in area prioritization selection for the purposes of exploration for minerals (the ‘ Technology ‘), which was developed by an arm’s length Ph.D. geologist (the ‘ Licensor ‘).

 

In particular, the Lessor obtained its license in the Technology pursuant to the terms of a binding term sheet dated February 6 th , 2025, amongst the Lessor and the Licensor (the ‘ Underlying Agreement ‘). Pursuant to the terms of the Underlying Agreement, the Lessor’s license in the Technology shall be for a period of 2 years. In connection with the grant of the license to the Lessor from the Licensor, the Lessor and the Licensor shall form an unincorporated joint-venture whereby the Licensor shall contribute the Technology, and the Lessor shall contribute funding and marking expertise to collaboratively advance the development of the Technology. As of the date hereof, the Licensor has advanced funds of GBP280,000 pursuant to the Underlying Agreement.

 

Furthermore, the 3,750,000 common shares of the Company payable to the Lessor pursuant to the Technology Licensing Agreement shall be subject to a tier 2 value escrow agreement, with 10% of the escrowed securities being releasable at the time of the Final TSX-V Bulletin, and 15% of the escrowed securities being releasable every six months thereafter until released in full.

 

For more information regarding the Technology Licensing Agreement and the Technology, please refer to the Company’s news release of July 8 th , 2025.

 

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities. None of the securities issued pursuant to the Technology License Agreement have been, or will be, registered under the United States Securities Act of 1933, or any state securities laws.

 

  About Stallion Uranium Corp.:  

 

 Stallion Uranium is working to ‘Fuel the Future with Uranium’ through the exploration of roughly 1,700 sq/km in the Athabasca Basin, home to the largest high-grade uranium deposits in the world. The company, with JV partner Atha Energy holds the largest contiguous project in the Western Athabasca Basin adjacent to multiple high-grade discovery zones.

 

Our leadership and advisory teams are comprised of uranium and precious metals exploration experts with the capital markets experience and the technical talent for acquiring and exploring early-stage properties. For more information visit stallionuranium.com .

 

  On Behalf of the Board of Stallion Uranium Corp.:  

 

Matthew Schwab
CEO and Director

 

  Corporate Office:  
700 – 838 West Hastings Street,
Vancouver, British Columbia,
V6C 0A6

 

T: 604-551-2360
info@stallionuranium.com  

 

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

 

  This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, ‘forward-looking statements’) that relate to the Company’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as ‘will likely result’, ‘are expected to’, ‘expects’, ‘will continue’, ‘is anticipated’, ‘anticipates’, ‘believes’, ‘estimated’, ‘intends’, ‘plans’, ‘forecast’, ‘projection’, ‘strategy’, ‘objective’ and ‘outlook’) are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this material change report should not be unduly relied upon. These statements speak only as of the date they are made.  

 

  Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this presentation are expressly qualified in their entirety by this cautionary statement .

 

   

 

 

News Provided by GlobeNewswire via QuoteMedia

This post appeared first on investingnews.com

 

(TheNewswire)

 

   

   
     

 

TORONTO, ON TheNewswire – August 1, 2025 Silver Crown Royalties Inc. ( Cboe: SCRI,OTC:SLCRF; OTCQX: SLCRF; FRA: QS0) ( ‘Silver Crown’ ‘SCRi’ or the ‘Company’ ) is pleased to announce it has executed an amendment (the ‘ Amendment ‘) to its silver royalty agreement originally dated December 13, 2024 (the ‘Agreement’ ) with PPX Mining Corp. ( TSXV: PPX; BVL: PPX) ( ‘PPX’ ) with respect to a silver royalty (‘ Silver Royalty ‘) on the Igor Project. The Amendment changes the capital deployment structure of the second tranche of the purchase price for the Silver Royalty (the ‘ Second Tranche Payment ‘) and the commencement date of the quarterly minimum Silver Royalty payments under the Agreement (the ‘ Minimum Royalty Payments ‘).

 

  The Second Tranche Payment, originally set at US$1,470,000 and payable on or before August 6, 2025, has now been divided into two payments, with Silver Crown paying US$833,000 of the Second Tranche Payment to PPX today and with the remaining US$637,000 of the Second Tranche Payment now being due on or before December 31, 2025. Additionally, the commencement date for the Minimum Royalty Payments has been deferred from October 1, 2025, to March 31, 2026, subject to earlier commencement upon the startup of metallurgical operations at the Beneficiation Plant.  

 

  In accordance with the terms of the Agreement as amended by the Amendment, the payment of the first US$833,000 of the Second Tranche Payment today increased Silver Royalty payable to SCRi to the cash equivalent of 5.1% of the silver produced at the Igor Project (to an aggregate 11.1%), and the total payable silver ounces under the Silver Royalty increased by 76,500 ounces (to an aggregate total of 166,500 ounces). Upon payment of the remaining US$637,000 of the Second Tranche Payment on or before December 31, 2025, the Silver Royalty will further increase by 3.9% of the cash equivalent of the silver produced at the Igor Project (to a total of 15%), and the total payable silver ounces under the Silver Royalty will increase by an additional 58,500 ounces (to an aggregate total of 225,000 ounces) as contemplated by the Agreement.  

 

  Peter Bures, Silver Crown’s CEO, stated, ‘Increasing our royalty to 11.1% of the cash equivalent of the silver produced at Igor 4 (up from 6% in the first half of the year) is expected to be instrumental to our revenue growth in the immediate term. Amending the Second Tranche Payment offers flexibility to our partners as they continue to develop their infrastructure and presents an opportunity for SCRI to deploy capital in a more advantageous manner for shareholders. Furthermore, adjusting the Minimum Royalty Payments to a more advantageous timeline enables for any fine tuning during the initial phase of the Beneficiation Plant’s operation. We emphasize that the overall transaction terms remain unchanged per the Agreement: SCRI is still expected to receive the cash equivalent of 225,000 silver ounces over the next four years, of which approximately the cash equivalent of 1,600 silver ounces have already been delivered and will now be delivered at an increased rate.  

 

  ABOUT Silver Crown Royalties INC.  

 

  Founded by industry veterans, Silver Crown Royalties (   Cboe:   SCRI |   OTCQX:   SLCRF |   BF:   QS0   ) is a publicly traded, silver royalty company. Silver Crown (SCRi) currently has four silver royalties of which three are revenue-generating. Its business model presents investors with precious metals exposure that allows for a natural hedge against currency devaluation while minimizing the negative impact of cost inflation associated with production. SCRi endeavors to minimize the economic impact on mining projects while maximizing returns for shareholders.   For further information, please contact:  

 

  Silver Crown Royalties Inc.  

 

  Peter Bures, Chairman and CEO  

 

  Telephone: (416) 481-1744  

 

  Email:   pbures@silvercrownroyalties.com  

 

  FORWARD-LOOKING STATEMENTS  

 

  This release contains certain ‘forward looking statements’ and certain ‘forward-looking information’ as defined under applicable   Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as ‘may’, ‘will’, ‘should’, ‘expect’, ‘intend’, ‘estimate’, ‘anticipate’, ‘believe’, ‘continue’, ‘plans’ or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements and information include, but are not limited to, SCRi anticipates that Elk Gold will pay this residual amount owing on or before March 31, 2025. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; the absence of control over mining operations from which SCRi will purchase gold and other metals or from which it will receive royalty payments and risks related to those mining operations, including risks related to international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; SCRi’s ability to enter into definitive agreements and close proposed royalty transactions; the inherent uncertainties related to the valuations ascribed by SCRi to its royalty interests; problems inherent to the marketability of gold and other metals; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; industry conditions, including fluctuations in the price of the primary commodities mined at such operations, fluctuations in foreign exchange rates and fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects SCRi; stock market volatility; regulatory restrictions; liability, competition, the potential impact of epidemics, pandemics or other public health crises on SCRi’s business, operations and financial condition, loss of key employees. SCRi has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. SCRi undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available.  

 

  This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.  

 

  CBOE CANADA DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.  

 

   

 

Copyright (c) 2025 TheNewswire – All rights reserved.

 

 

News Provided by TheNewsWire via QuoteMedia

This post appeared first on investingnews.com

The Canadian province of Ontario has canceled a C$100 million ($68.12 million) satellite high-speed internet contract with Elon Musk’s company Starlink, following through with a vow by the province’s premier to cut ties in retaliation for U.S. tariffs imposed on Canada.

Stephen Lecce, Ontario’s minister of energy and mines, confirmed the cancellation of the contract for internet services at an unrelated news conference in Toronto on Wednesday. Lecce, who oversees broadband connectivity in Canada’s most populous province, didn’t say how much the termination would cost.

“I can confirm that the premier has fulfilled his word, which is to cancel that contract because of the very reasons he cited in the past,” Lecce said. “We are standing up for Canada.”

Under the terms of the deal, which Ontario signed last November, Starlink was to provide high-speed internet access to 15,000 eligible homes and businesses in more remote communities.

In February, Ontario Premier Doug Ford threatened to end the agreement with Starlink in response to U.S. President Donald Trump imposing tariffs on Canadian goods. He later postponed the cancellation after Trump agreed to a 30-day pause on tariffs.

SpaceX, Starlink’s parent, did not immediately respond to a request for comment.

Musk headed Trump’s drive to shrink the federal government and was a close ally before falling out with the president.

Canada and the U.S. are working on negotiating a trade deal by August 1, the date Trump is threatening to impose a 35% tariff on all Canadian goods not covered by the U.S.-Mexico-Canada trade agreement.

Earlier this week, Canadian Prime Minister Mark Carney said talks were at an intense phase while reiterating that a deal that would remove all U.S. tariffs was unlikely.

Lecce said Ontario has taken other measures against the U.S., including restricting the ability of U.S. companies to bid on provincial government contracts, removing U.S.-made alcoholic beverages from store shelves and working to decouple the province’s energy sector from the U.S.

This post appeared first on NBC NEWS

SAN FRANCISCO — Apple on Thursday reported sales and profit that far surpassed expectations, showing that its efforts to re-route its sprawling global supply chain away from U.S. President Donald Trump’s trade war have so far succeeded.

Apple said it earned $94.04 billion in revenue for its fiscal third quarter ended June 28, up nearly 10% from a year earlier and beating analyst expectations of $89.54 billion, according to LSEG data. Its earnings per share of $1.57 per share topped expectations of $1.43 per share.

Sales of iPhones, the Cupertino, California, company’s best-selling product, were up 13.5% to $44.58 billion, beating analyst expectations of $40.22 billion.

Apple has been shifting production of products bound for the U.S., sourcing iPhones from India and other products such as Macs and Apple Watches from Vietnam. Still, the company had warned investors that U.S. tariffs could cost it $900 million in the fiscal third quarter, and it trimmed its annual share buyback program by $10 billion, a move analysts viewed as helping to free up cash to remain nimble in uncertain times.

The ultimate tariffs many Apple products could face remain in flux, and many of its products are currently exempt. Sales in its Americas segment, which includes the U.S. and could face tariff impacts, rose 9.3% to $41.2 billion.

In an interview with Reuters, Apple CEO Tim Cook said the company set seasonal records for upgrades of iPhones, Macs, and Apple Watches. He said Apple estimates about 1 percentage point of its 9.6% of sales growth in the quarter was attributable to customers making purchases ahead of potential tariffs.

“We saw evidence in the early part of the quarter, specifically, of some pull-ahead related to the tariff announcements,” Cook told Reuters, though he also said the active user base for iPhones hit a record high in all geographies.

The U.S. is still negotiating with both China and India, with Trump saying India could face 25% tariffs as early as Friday. However, analysts said India could still retain cost advantages for Apple in the longer term.

Tariffs are only one of Apple’s challenges. The company faces competition from rivals such as Samsung in a tough market for premium-priced mobile phones. On the software front, Apple faces challenges from Alphabet, which is quickly weaving AI features into its competing Android operating system.

Apple has delayed the release of an AI-enriched version of Siri, its virtual assistant, but Cook said the company is “making good progress on a personalized Siri.” He also said Apple, which has thus far not engaged in the massive capital expenditures of its Big Tech rivals to pursue AI, is “significantly growing” its investments in artificial intelligence.

“Apple has always been about taking the most advanced technologies and making them easy to use and accessible for everyone, and that’s at the heart of our AI strategy,” Cook said.

Apple faces regulatory rulings in Europe that threaten to undermine its lucrative App Store business. Apple said sales from its services business, which includes the App Store as well as music and cloud storage, were $27.42 billion, topping analyst expectations of $26.8 billion.

Sales of wearables such as AirPods and Apple Watches were $7.4 billion, missing estimates of $7.82 billion. Mac sales of $8.05 billion beat expectations of $7.26 billion, while iPads hit $6.58 billion in sales, missing expectations of $7.24 billion.

In Greater China, where Apple has faced long delays in approval to introduce AI features on its devices, sales were $15.37 billion, up from a year ago and above expectations of $15.12 billion, according to a survey of five analysts from data firm Visible Alpha.

Apple said gross margins were 46.5%, beating analyst expectations of 45.9%, according to LSEG estimates.

This post appeared first on NBC NEWS

JPMorgan Chase has built 1,000 new branches in seven years. That’s more locations than most of its competitors operate in total.

The bank is marking the milestone opening in Charlotte, North Carolina, on Thursday where Chairman and CEO Jamie Dimon is attending a ribbon-cutting ceremony. The firm has roughly 5,000 branches, the most of any American bank, according to Federal Reserve data from March.

“It’s a great marker for us to be able to say, you can see our commitment over time and we’re on a marathon with regard to this expansion,” said Jennifer Roberts, the CEO of Chase Consumer Banking, in an interview. “A thousand [branches] is significant — a thousand is bigger than many regional competitors have at all.”

In 2018, JPMorgan operated bank branches in 23 states and said it would expand into as many as 20 new markets over the following five years with about 400 new locations. By 2021, the firm said it had branches in all 48 lower states. And last February, JPMorgan announced a new, multibillion-dollar investment to open another 500 new locations by 2027.

JPMorgan said over the past seven years, Chase has opened more bank branches than all of its large bank peers combined. However, many of JPMorgan’s competitors have recently announced plans to expand their own footprints as the quest for deposits heats up.

Bank of America recently announced a branch expansion, with plans to open 150 new centers by 2027. And Wells Fargo plans to add branches, especially now that it’s fulfilled a regulatory consent order that had been constraining its growth.

The industry-wide growth plans could help reverse a trend dating back to the 2008 financial crisis in which the U.S. has seen the net number of bank branches plummet. The combination of fewer overall banks and the advent of online banking has broadly made brick-and-mortar locations lower priority. However, in recent years, especially amid the population migration during and after the pandemic, banks have been reorienting their footprints to capture more deposits.

Expanding in Charlotte puts JPMorgan head-to-head with rival Bank of America, which is headquartered there and has 71% market share in the city, according to KBW and S&P Global Market Intelligence data.

Roberts said after this latest opening, Chase will have about 75 branches in North Carolina. She said that the bank is expanding there due to its “young, fast-growing population” and that there’s a “lot of wealth coming into that area” as well.

JPMorgan said at its investor day in May that its newer branches are expected to ultimately contribute more than $160 billion in incremental deposits. The firm said each new branch breaks even within four years.

JPMorgan said when its expansion is complete, Chase will have added more than 1,100 branches, renovated 4,300 locations and entered 80 new markets. It also expects that 75% of the U.S. population will be able to reach one of its branches within an “accessible drive.”

This post appeared first on NBC NEWS

 

Saga Metals Corp. (‘SAGA’ or the ‘Company’) (TSXV: SAGA,OTC:SAGMF) (OTCQB: SAGMF) (FSE: 20H) a North American exploration company focused on critical mineral discovery, is pleased to announce SAGA’s team has completed the 4 km access trail along the core of the Trapper zone providing necessary access for future drill programs and exploration activities. The access trail is located to run along the surface trend of extensive outcropping and sub-cropping oxide layers. In addition, a 25-tonne excavator from Gladiator drilling has opened 3 trenches across the two significant aeromagnetic anomalies of the Trapper zone, exposing a total of 504m 2 (5,425ft 2 ) of semi-massive to massive vanadiferous titanomagnetite (‘VTM’) mineralization.

 

 

 

   Figure     1     :    Radar Pro   ject’s Trapper Zone depicting two aeromagnetic anomalies and the trend of the inferred oxide layering. The Trapper trail will support a new diamond drilling program.   SAGA has demonstrated    the reliability of the regional airborne magnetic surveys after ground-truthing and drilling    in the 2024 and 2025 field programs.  

 

Located just 10 km from Cartwright, Labrador, the 24,175-hectare Radar Titanium Project is supported by existing infrastructure, including road access, a deep-water port, an airstrip, and nearby hydroelectric power. The property completely encompasses the Dykes River Intrusive Complex, a previously underexplored layered mafic body.

 

With a large oxide layering thickness, a near-monomineralic Vanadiferous Titanomagnetite (VTM) composition, and extensive mineral tenures, the Radar Titanium Project shows the potential to become a globally significant VTM project.

 

 

 

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

 

  2025 Summer Field Program – Road Maintenance, Trail Access, Trenching and Geophysics  

 

The 2025 summer field program marked a critical phase in advancing the exploration efficiency and cost-effectiveness of future drill programs and exploration activities in the western portion of the property, including the highly prospective Trapper zone. Key components of this program include:

 

  1. Maintenance of the forestry road
  2.  

  3. Construction of the drill rig compatible access trail across the Trapper zone
  4.  

  5. Trenching in the Trapper and Hawkeye zones
  6.  

  7. Ground-based magnetometer surveys over the two major anomalies in the Trapper zone
  8.  

  1.   Forestry Road Maintenance:  
  2.  

The first step for the team was to perform maintenance on the Cartwright Forest Service road, which had not seen regular clearing for the last few decades. This work included:

 

  •   Objective: Clear overgrown sections of the existing forestry road to enable access for trucks and heavy equipment to reach the laydown area. This road is essential for allowing the team proper access to the west of the property claims, and includes an equipment lay-down area and an access trail into the Trapper Zone.
  •  

  •   Work: Brush-cutting and removal with heavy equipment.
  •  

  •   Equipment: Brush-saws, Chain-saws, 6-tonne excavator, 25-tonne excavator.
  •  

  •   Outcome: The 4.2 km of refurbished track now provides reliable access to the lay-down area, enhancing logistical efficiency for the Trapper zone trail building.
  •  

 

 

   Figure 3.1:    Completed maintenance on the Cartwright Forest Service Road  

 

 

 

   Figure 3.2:    Start of the Trapper Zone Trail, viewed from the lay down along the Cartwright Forest Service Road  

 

2. Trapper Trail Construction:  

 

The next phase of infrastructure development aimed to upgrade the pre-existing snowmobile/ATV trail into a drill rig-compatible trail, which gains access to the heart of the Trapper zone and extends past the two major anomalies. This work included:

 

  •   Facilitate Access: Provide direct trail access into the Trapper Zone on the western extent of the 20 km aerial oxide layer of the Dykes River Intrusion, connecting the eastern Hawkeye Zone to the western Trapper Zone.
  •  

  •   Support Drilling Operations: Enable efficient mobilization of diamond drilling equipment to high-priority targets identified through geophysical surveys within the Trapper zone.
  •  

  •   Enhance Cost Efficiency: Reduce logistical costs for future exploration campaigns by leveraging existing infrastructure and minimizing reliance on helicopter support.
  •  

  •   Ensure Sustainability: Minimize environmental impact through strategic trail planning and compliance with Newfoundland and Labrador’s permitting requirements.
  •  

 

 

   Figure 3.3:    Excavator and work truck located along the Trapper Trail over the northern portion of the oxide layer trend within the Trapper zone.  

 

3. Trapper & Hawkeye Zone Trenching:  

 

The trenches within the Trapper zone were identified as targets due to extremely high readings on the GSM-19 Magnetometer. On numerous occasions, the geophysics team had the GSM-19 Magnetometer Instruments reading well beyond the highest highs of the Hawkeye zone, which reached 74,000 nt.

 

Upon trenching these locations, it was discovered that the presence of semi-massive to massive VTM – oxide layering outcrops were not far from the surface. A total of 504m 2 (5,425ft 2 ) was trenched across the oxide layering strike in the north and south anomalies of the Trapper zone. Work is ongoing to complete pressure washing of the outcrops, clearing away dirt and debris to better show the structure and mineralogy of these exposures.

 

 

 

   Figure 4.1:    Excavator and Michael Garagan (CGO & Director of SAGA) standing on a VTM oxide layer outcrop in the northern anomaly at the Trapper zone.  

 

 

 

   Figure 4.2:    Semi-massive to Massive VTM oxide layer outcrop in the southern anomaly at the Trapper zone.  

 

4. Trapper Zone Geophysics:  

 

As previously reported, SAGA mobilized two geophysical crews to complete magnetic and VLF-electromagnetic survey coverage across the north and south anomalies within the Trapper Zone.

 

SAGA’s geophysics team has continued to report strong magnetic detection levels over both anomalies, requiring recalibration of the geophysical instruments. The team is excited to report that readings have exceeded the 74,000 nT detected in the Hawkeye zone, with readings recorded as high as 115,498 nT over the northern Trapper zone anomaly and over 113,000 nT over the southern Trapper zone anomaly. In some cases, the instruments reached the maximum level of detection (120,000 nt).

 

 

 

   Figure 5:    Reading off of the Magnetometer GSM-19 geophysical instrument recording 115,498 nT over the Tapper zone.  

 

SAGA’s geophysics team is working to complete the remaining lines over the coming days and will be the subject of a future new release in the near term.

 

  Michael Garagan, CGO & Director of SAGA stated:   ‘This summer has been a critical juncture in the development of the project and preparation for efficient and cost-effective drilling in the future. We believe that with the infrastructure upgrades completed our drilling cost per meter has come down significantly, setting us on the right track to reach our goal of approximately $300-$350/m. SAGA’s plans and objectives over the next 12-month are to complete a 10,000-15,000-meter drill program, setting the stage for the completion of a maiden resource calculation. A project like this, with homogenous geochemistry and large oxide layers, can move towards a resource calculation with 100 m drill spacing over the 2.5 km stretch of the entire oxide layering strike that runs continuously through the Trapper zone.’  

 

  Qualified Person  

 

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

 

  About Saga Metals Corp.  

 

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

 

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

 

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

 

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

 

  On Behalf of the Board of Directors  

 

  Mike Stier, Chief Executive Officer  

 

For more information, contact:

 

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

 

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

 

  Cautionary Disclaimer  

 

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

 

Photos accompanying this announcement are available at:

 

  https://www.globenewswire.com/NewsRoom/AttachmentNg/e8128200-d3b7-48da-aee0-484bad883fca  

 

  https://www.globenewswire.com/NewsRoom/AttachmentNg/6c8d3aa5-99b1-4eba-ab0c-616ac8aa84eb  

 

  https://www.globenewswire.com/NewsRoom/AttachmentNg/26751ee2-942d-431f-8bf1-c64df78353de  

 

  https://www.globenewswire.com/NewsRoom/AttachmentNg/fdf6776f-80be-4a01-b78b-1dcc786d5051  

 

  https://www.globenewswire.com/NewsRoom/AttachmentNg/66c2fa8f-6518-4aed-988f-09d98f483a25  

 

  https://www.globenewswire.com/NewsRoom/AttachmentNg/c5ff730b-9a14-4cad-843f-696bcf80efad  

 

  https://www.globenewswire.com/NewsRoom/AttachmentNg/63807f35-1f7c-4a3c-b3c7-6fa0df9d0d83  

 

  https://www.globenewswire.com/NewsRoom/AttachmentNg/42529e33-6d14-4c03-bfc4-9ec7030a7fc6  

 

   

 

 

News Provided by GlobeNewswire via QuoteMedia

This post appeared first on investingnews.com

Homerun Resources Inc. (TSXV: HMR,OTC:HMRFF) (OTCQB: HMRFF) (‘Homerun’ or the ‘Company’) is pleased to announce that Strand Hanson Limited has been appointed as its UK Financial Adviser.

This engagement marks a significant step as Homerun evaluates a potential dual listing on the international commercial companies secondary listing segment of the FCA’s Official List, and admission to trading on the Main Market of the London Stock Exchange (LSE).

Strand Hanson Limited is a leading independent financial advisory firm based in London, known for its expertise in corporate finance and capital markets. With a strong track record in advising growth companies, particularly in the natural resources and energy sectors. Their extensive experience in advising international companies on LSE listings brings valuable insight to Homerun’s growth objectives and ambition to increase its global investor base.

Homerun is a vertically integrated materials leader revolutionizing green energy solutions through advanced silica technologies. As an emerging force outside of China for high-purity quartz (HPQ) silica innovation, the Company controls the full industrial vertical from raw material extraction to cutting-edge solar, battery and energy storage solutions.

The decision to pursue a dual listing on the London Stock Exchange supports Homerun’s strategy of expanding its capital markets presence, improving share liquidity, and enhancing visibility with institutional and retail investors worldwide. London, as one of the world’s premier financial centers, offers unparalleled access to international capital and a diverse range of sophisticated investors.

This move will position Homerun to:

  • Broaden its shareholder base beyond North America.
  • Access deeper pools of capital and improve funding flexibility.
  • Enhance the Company’s brand recognition in the UK and European markets.
  • Attract high-caliber institutional investors who are active on the LSE.
  • Offer investors increased trading flexibility, transparency, and regulatory standards associated with London’s Main Market.

Commenting on the partnership, CEO, Brian Leeners, stated: ‘We are excited to welcome Strand Hanson Limited as our UK Financial Adviser. Their proven track record and expertise with London listings will be instrumental as we assess the merits of a dual listing on the Main Market of the London Stock Exchange, aligning with our objectives to create greater value for our shareholders.’

About Homerun (www.homerunresources.com)

Homerun (TSXV: HMR,OTC:HMRFF) is a vertically integrated materials leader revolutionizing green energy solutions through advanced silica technologies. As an emerging force outside of China for high-purity quartz (HPQ) silica innovation, the Company controls the full industrial vertical from raw material extraction to cutting-edge solar, battery and energy storage solutions. Our dual-engine vertical integration strategy combines:

Homerun Advanced Materials

  • Utilizing Homerun’s robust supply of high purity silica sand and quartz silica materials to facilitate domestic and international sales of processed silica through the development of a 120,000 tpy processing plant.

  • Pioneering zero-waste thermoelectric purification and advanced materials processing technologies with University of California – Davis.

Homerun Energy Solutions

  • Building Latin America’s first dedicated high-efficiency, 365,000 tpy solar glass manufacturing facility and pioneering new solar technologies based on years of experience as an industry leader in developing photovoltaic technologies with a specialization in perovskite photovoltaics.

  • European leader in the marketing, distribution and sales of alternative energy solutions into the commercial and industrial segments (B2B).

  • Commercializing Artificial Intelligence (AI) Energy Management and Control System Solutions (hardware and software) for energy capture, energy storage and efficient energy use.

  • Partnering with U.S. Dept. of Energy/NREL on the development of the Enduring long-duration energy storage system utilizing the Company’s high-purity silica sand for industrial heat and electricity arbitrage and complementary silica purification.

With six profit centers built within the vertical strategy and all gaining economic advantage utilizing the Company’s HPQ silica, across, solar, battery and energy storage solutions, Homerun is positioned to capitalize on high-growth global energy transition markets. The 3-phase development plan has achieved all key milestones in a timely manner, including government partnerships, scalable logistical market access, and breakthrough IP in advanced materials processing and energy solutions.

Homerun maintains an uncompromising commitment to ESG principles, deploying the cleanest and most sustainable production technologies across all operations while benefiting the people in the communities where the Company operates. As we advance revenue generation and vertical integration in 2025, the Company continues to deliver shareholder value through strategic execution within the unstoppable global energy transition.

On behalf of the Board of Directors of

Homerun Resources Inc.

‘Brian Leeners’

Brian Leeners, CEO & Director
brianleeners@gmail.com / +1 604-862-4184 (WhatsApp)

Tyler Muir, Investor Relations
info@homerunresources.com / +1 306-690-8886 (WhatsApp)

FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
The information contained herein contains ‘forward-looking statements’ within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be ‘forward-looking statements’.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/260662

News Provided by Newsfile via QuoteMedia

This post appeared first on investingnews.com