Peter Schiff, chief economist and global strategist at Euro Pacific Asset Management and founder of Schiff Gold, shares his outlook on gold and silver prices.
He also discusses Bitcoin and emerging markets.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Chris Marcus, founder of Arcadia Economics, shares his thoughts on silver and gold.
While it’s impossible to know exactly how precious metals prices will move in the short term, he’s confident they will maintain an upward trajectory in the long term.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Regardless of how the gold price is doing, the top gold-mining companies are always making moves.
Right now, gold is in the limelight — stimulated by increasing global inflation, geopolitical turmoil and economic uncertainty, the gold price is repeatedly setting new highs in 2025, and broke through the US$4,400 per ounce mark in October.
Rising safe-haven demand for gold alongside concerns over gold mine supply have pushed the metal to record highs in recent years. and market watchers are eyeing world’s top gold-mining companies to see how they respond to market dynamics.
While the future of the economy remains uncertain, the rising gold price has been a boon to gold-mining companies as it improves their margins after several years of high inflation increasing the costs associated with mining operations.
According to US Geological Survey data, gold production came in at 3,300 metric tons in 2024. China, Australia and Russia were the top three gold-producing countries last year.
But what were the top gold-mining companies by production in 2024?
Read on to find out which companies produced the most gold this past year.
Production: 213.03 metric tons
Newmont is the world’s top gold-mining company. In 2024, the company reported production of 192.96 metric tons of gold.
Newmont has a diverse portfolio of assets, with significant operations in North and South America, Australia and Africa.
Its portfolio includes a 38.5 percent interest in Nevada Gold Mines in Nevada, US, through a joint venture with majority owner Barrick Mining (TSX:ABX,NYSE:B).
In 2024, the Nevada Gold Mines complex produced 2.68 million ounces (83.48 metric tons) of gold. Newmont’s attributable share is 1.03 million ounces, or 32.14 metric tons.
The company’s next largest operation is its wholly owned Ahafo South Complex in Ghana. It consists of three mines, the Subika and Awonsu open pits, and the Subika underground mine. Last year, the asset produced 798,000 ounces (24.28 metric tons) of gold for Newmont. The company’s Ahafo North open pit mine achieved commercial production in late 2025 and is expected to average 275,000 and 325,000 ounces of gold per year.
In January 2025, Newmont sold its Porcupine Complex in Ontario, Canada, to Discovery Silver for total consideration of US$425 million. In 2024, the mine produced 270,000 ounces (8 metric tons) of gold. The sale is part of Newmont’s larger divestiture of US$4.3 billion in non-core assets.
Production: 121.65 metric tons
Barrick Mining produced 121.65 metric tons of attributable gold in 2024, landing it as the second highest gold producer in the world. Like Newmont, Barrick is a global producer and owns assets on nearly every continent.
Barrick’s largest operation is its 61.5 percent stake in Nevada Gold Mines alongside Newmont. The gold complex accounted for 1.65 million ounces, or 51.34 metric tons, of Barrick’s gold production in 2024.
The company’s second-largest producing asset is its 80 percent owned Loulo-Gounkoto gold complex in Mali, which produced 578,400 ounces of gold in 2024 for Barrick.
While much of Barrick’s production has remained steady over the past several years, disagreements with the Malian government, run by a military junta since a 2021 coup, has brought uncertainty to its operations there.
In 2024, the government accused Barrick of failing to pay its taxes amid changes to royalty rights and mining licenses. It arrested four workers there and issued an arrest warrant for then-CEO Mark Bristow.
In June 2025, the Mali government placed the mine under provisional administration, as a resolution of the dispute failed to materialize.
Production: 108.41 metric tons
In 2024, Agnico Eagle produced 108.41 metric tons of gold, taking third place among the world’s biggest gold producers. It wholly owns its portfolio of 11 mines, with seven in Canada, two in Mexico and one in each of Australia and Finland.
The company’s Detour Lake and Canadian Malartic mines in Canada are some of the world’s biggest gold mines.
In 2024, its Detour Lake operation, in Ontario near the Québec border, produced 671,950 ounces (20.9 metric tons) of gold. Just behind was the Canadian Malartic Complex in Québec, which produced 655,654 ounces (20.4 metric tons) in 2024.
Gold production at Canadian Malartic peaked at 715,000 ounces (22 metric tons) in 2021 The mine is a combination of open pit and underground mines; however, the main open pit was depleted in 2023, and the mine is expected to transition to fully underground operations by 2029.
Production: 96.42 metric tons
In 2024, Navoi Mining and Metallurgy Company produced 96.42 metric tons of gold. NMMC is the largest mining company operating in Uzbekistan, with 12 mines. The company has been in operation since the 1960s, when the country was still part of the Soviet Union.
NMMC’s primary asset is the Muruntau mine, which produced an estimated 2.68 million ounces of gold in 2024. Muruntau is the world’s largest open pit mine and the second highest gold producing mine in the world. It has been in production since 1969.
The company is working on modernizing its operations and considering a potential public listing.
Production: 93.36 metric tons
Polyus produced 93.37 metric tons of gold in 2024. The gold company is the largest gold producer in Russia from five wholly owned operations in the country.
Polyus holds significant proven and probable gold reserves of 101 million ounces, or 3,141 metric tons.
Its largest asset is the Olimpiada mine in Eastern Siberia. In 2024, the mine produced 1.48 million ounces (46.93 metric tons) of gold, putting it among the top gold operations in the world. Its second biggest mine is Blagodatnoye, also in Siberia, which produced 500,300 ounces (15.56 metric tons) of gold in 2024.
Production: 82.35 metric tons
AngloGold Ashanti produced 82.74 metric tons of attributable gold in 2024, putting it among the top Africa-based gold mining companies.
The company has a portfolio of nine mining assets spread across seven countries in Africa, South America and Australia, as well as numerous exploration projects around the world.
AngloGold’s largest wholly owned operation is the Geita mine in Northwest Tanzania. The property consists of multiple open-pit and underground operations, which produced 483,000 ounces (15 metric tons) of gold in 2024.
The company also owns a 45 percent interest in the Kibali mine located in the Democratic Republic of Congo. The mine is the largest gold operation in Africa, producing 686,000 ounces (21.34 metric tons) in 2024, with 308,700 ounces (9.6 metric tons) attributable to AngloGold. The remaining ownership in the mine is held by Barrick Mining at 45 percent and the DRC government at 10 percent.
Production: 66.19 metric tons
Kinross Gold ranked seventh on our list of top gold producers with 66.17 metric tons of attributable gold equivalent production in 2024. Kinross maintains considerable and steady output from a portfolio of six assets across Canada, the US, Brazil, Chile and Mauritania.
Kinross has full ownership over all its operating assets, with the exception of its 70 percent owned Manh Choh mine in Alaska, US. The company began processing ore from Manh Choh at its Fort Knox operations through the Peak Gold joint venture in 2024.
The biggest contributor to Kinross’s output is its Tasiast mine in Western Mauritania, which produced 622,394 ounces (19.36 metric tons) of gold in 2024. Tasiast is currently an open-pit operation, and the company has been working to explore the underground potential of the mine at several key targets.
Among Kinross’ other assets, Paracatu stands out with its 528,574 ounces (16.44 metric tons) of gold production in 2024, making it the third largest gold mine in Brazil.
Production: 64.21 metric tons
Gold Fields was the eighth biggest gold company in 2024, producing 61.75 metric tons of the yellow metal. The company is a globally diversified gold producer with nine mining operations across Australia, Chile, Peru, Ghana and South Africa. The company also owns the Windfall gold project in Canada.
Gold Fields’ most significant gold operation is the Tarkwa mine in Southern Ghana, one of the largest gold mines in West Africa. Gold Fields holds a 90 percent interest in the mine, with the remaining 10 percent owned by the Government of Ghana.
The mine consists of four open pits. In 2024, the operation produced 537,000 ounces (16.7 metric tons) for Gold Fields.
Its next largest asset is its wholly owned St Ives complex in the Eastern Goldfields region of Western Australia. The operation, which commenced production in the 1980s, currently consists of two open pits and two underground mines. It delivered 331,000 ounces (10.3 metric tons) of gold in 2024.
Production: 62.21 metric tons
In 2024, Zijin Mining Group produced 62.21 metric tons of attributable gold from its mines across Asia, Africa, Australia and South America. Although the company is not exclusively a gold producer, its substantial portfolio of assets has helped it become China’s leading gold company.
Its most significant contributor to gold production came from its Norton complex near Kalgoorlie, Western Australia. The asset is a conglomeration of several different mines and delivered 263,000 ounces (8.18 metric tons) of gold in 2024.
Zijin’s next largest gold operation is Buriticá, an underground gold mine located near Medellín, Colombia, of which it holds 69.28 percent ownership. In 2022, the mine underwent an expansion that included upgrades to its mining equipment, improving the overall processing capacity. In 2024, the mine produced 322,000 ounces (10.02 metric tons) of gold, with 223,000 ounces (6.94 metric tons) attributable to Zijin.
Production: 47.51 metric tons
In 2024, Harmony Gold Mining Company produced 47.51 metric tons of gold, making it the world’s 10th largest gold mining company.
The majority of the company’s large portfolio of wholly owned operations are located in South Africa, and it also operates the Hidden Valley mine in Papua New Guinea.
Harmony Gold’s top operation is the Mponeng mine in Northern South Africa. The underground mine is among the deepest in the world, where gold is retrieved from depths of approximately 4 kilometers. In the calendar year 2024, Mponeng produced 320,993 ounces (9.98 metric tons) of gold.
Harmony also owns the Moab Khotsong mine in Northern South Africa, an underground mine consisting of three vertical shaft systems. It started production in 2003, making it one of South Africa’s younger deep-level underground mines. In 2024, the mine contributed 202,742 ounces (6.31 metric tons) to Harmony’s total output.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
With a mission to “supply the fuel for a clean energy future,” Standard Uranium (TSXV:STND,USOTC:STTDF,FRA:9SU0) is unlocking the next generation of high-grade uranium discoveries to power global nuclear growth. The company’s dual-track strategy drives value through aggressive exploration at its flagship Davidson River Project—a premier discovery opportunity in the heart of the Athabasca Basin.
With a fully funded drill program scheduled for spring 2026 at its flagship Davidson River project, and joint ventures on other highly prospective projects, the company provides investors early stage exposure to the emerging nuclear energy market.
Located in the southwest Athabasca Basin, approximately 25 kilometres west of NexGen’s Arrow deposit and Paladin Energy’s Triple R deposit, the Davidson River project spans 30,737 hectares across 10 contiguous mineral claims. The property lies along the same structural trends that hosts these globally significant discoveries.
This Standard Uranium profile is part of a paid investor education campaign.*
Click here to connect with Standard Uranium (TSXV:STND,USOTC:STTDF,FRA:9SU0) to receive an Investor Presentation
Sitka Gold Corp. (TSXV: SIG) (FSE: 1RF) (OTCQB: SITKF) (‘Sitka’ or the ‘Company’) is pleased to announce analytical results for three diamond drill holes completed at the Contact Zone target located at its 100% owned, road accessible RC Gold Project (‘RC Gold’ or the ‘Project’) within the Yukon’s prolific Tombstone Gold Belt. DDRCCC-25-113 returned impressive results with up to 119.0 metres of 1.01 g/t gold returned from surface, including 10.7 m of 4.1 g/t gold and 1.2 metres of 24.8 g/t gold, confirming significant gold mineralization at the Contact Zone. Assays are currently pending for an additional three drill holes that were completed at Contact along with three holes that were completed at the adjoining Pukelman target (see Figures 2 and 3). Assays are also pending for an additional 46 diamond drill holes that have been completed across the Rhosgobel, Blackjack, Saddle, Eiger, Bear Paw and MayQu targets. Approximately 32,000 metres of diamond drilling has been completed across the RC Gold Project this year.
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‘Initial results from Sitka’s first pass of diamond drilling at the Contact zone are very encouraging, demonstrating the strong gold values present within this higher-grade gold zone,’ stated Cor Coe, CEO and Director of Sitka. ‘With an interval of over 100 gram-metres (g/t*m) from surface in Hole 113, we can add the Contact zone to our growing list of targets that demonstrate the potential to host additional multi-million ounce gold deposits within the Clear Creek Intrusive Complex. We look forward to receiving the remaining holes from this zone, along with the holes that were completed this year at the adjacent Pukelman zone, where numerous instances of visible gold were observed throughout the drill core, as we continue to delineate the potential of this exciting target area to add ounces to the growing gold resources at RC Gold.’
Figure 1: A cross section through the Contact Zone showing the intercepts of 119.0 m of 1.01 g/t Au, including 10.7 m of 4.10 g/t Au and 3.9 m of 5.51 g/t Au in DDRCCC-25-113.
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Figure 2: A plan map of the Contact Zone target showing the drilling completed to date in 2025. All holes have intersected reduced intrusion-related gold system (RIRGS) style mineralization including centimetre-scale, sheeted, quartz veins within a structural corridor cutting the metasediments. Multiple occurrences of visible gold have been observed in most of the diamond drill holes completed to date (yellow stars). Assays are pending for the remaining holes. Drilling to date has traced gold mineralization across a lateral extent of approximately 900 m x 650 m and from surface to a depth of 430 m. Mineralization remains open in all directions.
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Figure 3: Plan map showing the broader Contact-Pukelman target area within a large 1.0 km x 1.5 km gold-in-soil anomaly. Drilling to date has been focused on the core of this target area and has traced gold mineralization across a lateral extent of approximately 900 m x 650 m and from surface to a depth of 430 m. Mineralization remains open in all directions.
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Figure 4: Examples of coarse visible gold (VG) observed in drill core at the Contact Zone. Drilling at the Contact Zone has intersected VG in all six holes completed this year, including the largest VG particles observed on the property in drill core to date (scale is the same for all pictures). Click HERE to see additional images of VG from the Contact Zone.
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Figure 5: Example of large particles of visible gold seen within a quartz vein in metasedimentary rock in the drill core of DDRCCC-25-115 from 39.4 to 39.7 m length drilled at the Contact zone
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Figure 6: An example of drill core from DDRCCC-25-113 showing quartz veins cutting strongly altered metasediments of the Contact Zone. The displayed section shows a well mineralized quartz vein containing 12.25 g/t Au over 1.2 m.
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CONTACT-PUKELMAN TARGET
In 2025, Sitka completed six diamond drill holes totalling 2,172 metres at Contact and three diamond drill holes totalling 1,876 metres at Pukelman (see Figure 2). Drilling intersected broad intervals of strongly altered metasediments cut by several quartz monzonite, and biotite-feldspar porphyritic dykes, along with abundant, cm scale, sheeted quartz veins. Visible gold was observed in the sheeted quartz veins and was often associated with arsenopyrite, bismuthinite, and minor scheelite (see Figures 3 and 4).
Sitka’s 2025 drill program was designed to expand the mineralized footprint of the Contact zone, test the zone with oriented diamond drill core to better understand controls on the mineralization and test the linkage between the metasedimentary and intrusion hosted mineralization of the Contact and Pukelman zones. The Contact zone was previously drilled in 2010 and 2011 with 1,660 metres in 12 holes of reverse circulation drilling and 254 metres in 2 holes of diamond drilling and encountered significant mineralization in quartz veining within metasedimentary rocks up to 450 metres south of the Pukelman intrusion. Current drilling to date has traced gold mineralization across a lateral extent of approximately 900 metres x 650 metres and from surface to a depth of approximately 430 metres.
* While visible gold observations are very encouraging and confirm the presence of gold mineralization, they are not intended to imply potential gold grades. Gold assays will be published after they are received from the lab for mineralized intervals in which visible gold particles were noted.
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Figure 7: A plan map of the Clear Creek Intrusive Complex (CCIC) showing the updated resource areas at Blackjack and Eiger, along with the newly discovered Rhosgoble zone and several other high-priority drill targets and multiple exploration targets. . The map highlights the numerous drill targets that Sitka has outlined within the CCIC which all are connected by the road network on the project and occur in an area measuring five (5) km north-south and twelve (12) km east-west. Additional areas highlighted by strong gold in soil anomalies are being advanced to the drill ready stage with additional geological work in 2025.
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Figure 8*: A plan map of the Clear Creek Intrusive Complex (CCIC) showing the updated resource areas at Blackjack and Eiger, and the six additional areas that have drill targets indicated by the mauve hatched areas. The map highlights the numerous drill targets that Sitka has outlined within the CCIC which all are connected by the road network on the project and occur in an area measuring five (5) km north-south and twelve (12) km east-west. Additional areas highlighted by strong gold in soil anomalies are being advanced to the drill ready stage with additional geological work in 2025.
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* References for Figure 7 drilling intervals:
Rhosgobel Intervals: Sitka Gold News Release dated November 25, 2024
Pukelman Intervals: Sitka Gold News Release dated January 7, 2025
Contact Intervals: O’Brien, 2010; Assessment Report, 2010 Diamond Drilling Program, Clear Creek Property (Assessment report 095539)
Shutty, 2011; Assessment Report, 2011 Exploration Program, Clear Creek Property (Assessment Report 095984)
Bear Paw Intervals: Shutty, 2011; Assessment Report, 2011 Exploration Program, Clear Creek Property (Assessment Report 095984)
Figure 9: Regional map of the RC Gold Project located in the western portion of Yukon’s prolific Tombstone Gold Belt.
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Quality Assurance/Quality Control
On receipt from the drill site, the HTW/NTW-sized drill core was systematically logged for geological attributes, photographed and sampled at Sitka’s core logging facility. Sample lengths as small as 0.3 m were used to isolate features of interest, otherwise a default 2 m downhole sample length was used. Each sample is identified by a unique sample tag number which is placed in the bag containing the core to be assayed. Core was cut in half lengthwise along a predetermined line, with one-half (same half, consistently) collected for analysis and one-half stored as a record. Standard reference materials, blanks and duplicate samples were inserted by Sitka personnel at regular intervals into the sample stream. Bagged samples were placed in secure bins to ensure integrity during transport. They were delivered by Sitka personnel or a contract expeditor to ALS Laboratories’ preparatory facility in Whitehorse, Yukon, with analyses completed in North Vancouver.
ALS is accredited to ISO 17025:2005 UKAS ref. 4028 for its laboratory analysis. Samples were crushed by ALS to over 70 per cent passing below two millimetres and split using a riffle splitter. One-thousand-gram splits were pulverized to over 85 per cent passing below 75 microns. Gold determinations are by fire assay with an inductively coupled plasma mass spectroscopy (ICP-AES) finish on 50 g subsamples of the prepared pulp (ALS code: Au-ICP-22). Any sample returning over 10 g/t gold was re-analyzed by fire assay with a gravimetric finish on a 50 g subsample (ALS code: Au-GRA21). In addition, a 51-element analysis was performed on a 0.5 g subsample of the prepared pulps by an aqua regia digestion followed by an inductively coupled plasma mass spectroscopy (ICP-MS) finish (ALS code: ME-MS41).
About Sitka’s Flagship RC Gold Project
Sitka’s 100% owned RC Gold Project consists of a 431 square kilometre contiguous district-scale land package located in the heart of Yukon’s Tombstone Gold Belt. The project is located approximately 100 kilometres east of Dawson City, which has a 5,000 foot paved runway, and is accessed via a secondary gravel road from the Klondike Highway which is usable year-round and is an approximate 2 hour drive from Dawson City. It is the largest consolidated land package strategically positioned mid-way between the Eagle Gold Mine and the past producing Brewery Creek Gold Mine.
The RC Gold Project now has pit-constrained mineral resources that are contained in two zones: the Blackjack and Eiger gold deposits with 1,291,000 ounces of gold in 39,962,000 tonnes grading 1.01 g/t gold in an indicated category and 1,044,000 ounces of gold in 34,603,000 tonnes grading 0.94 g/t in an inferred category at Blackjack and 440,000 ounces of gold in 27,362,000 tonnes grading 0.50 g/t gold in an inferred category at Eiger. These resource estimate numbers are supported by the recently updated technical report for RC Gold, prepared in accordance with NI 43-101 standards, entitled ‘Clear Creek Property, RC Gold Project NI 43-101 Technical Report Dawson Mining District, Yukon Territory’, prepared by Ronald G. Simpson, P. Geo., of GeoSim Services Inc. with an effective date of January 21, 2025. This report is available on SEDAR+ (http://www.sedarplus.ca) and on the Company’s website (www.sitkagoldcorp.com).
Both of these deposits begin at surface, are potentially open pit minable and Initial bottle roll metallurgical testing confirmed the non-refractory characteristics of the gold mineralization and returned gold extraction rates averaging around 85%. Further metallurgical testwork in 2024 returned recoveries ranging from 77.6 to 93% for gravity followed by cyanidation.
For the purposes of the current resource model, it is assumed that a likely mill flowsheet would consist of a gravimetric, flotation, and cyanidation circuit.
The company has now completed 165 diamond drill holes for a total of 59,770 metres across the Clear Creek Intrusive Complex (CCIC), and an additional 3 holes for 858 metres in the May-Qu Intrusion. Drilling continues to outline higher grade mineralization at all zones including hole DDRCCC-24-068 at Blackjack which intersected 678.1 metres of 1.04 g/t gold starting from surface (see news release dated October 21, 2024), and hole DDRCCC-25-075 which intersected 352.8 metres of 1.55 g/t gold including 108.9 metres of 3.27 g/t gold and 45.0 metres of 4.52 g/t gold (see news release dated April 22, 2025). Drilling in 2024/2025 has resulted in the discovery of a new higher grade zone at Rhosggobel including hole DDRCRG-25-010 at Rhosgobel which intersected 235.9 metres of 1.11 g/t gold, including 40.0 m of 2.01 g/t gold and 10.0 m of 5.29 g/t gold, from surface (see news release dated September 18, 2025).
RC Gold Deposit Model
Exploration on the Property has mainly focused on identifying an intrusion-related gold system (‘IRGS’). The property is within the Tombstone Gold Belt which is the prominent host to IRGS deposits within the Tintina Gold Province in Yukon and Alaska. Notable deposits from the belt include: Fort Knox Mine in Alaska with current Proven and Probable Reserves of 230 million tonnes at 0.3 g/t Au (2.471 million ounces; Sims 2018)(1); Eagle Gold Mine with current Measured and Indicated Resources of 233 million tonnes at a grade of 0.57 g/t Au at the Eagle Main Zone (4.303 million ounces; Harvey et al, 2022)(2); the Brewery Creek deposit with current Indicated Mineral Resource of 22.2 million tonnes at a gold grade of 1.11 g/t (0.789 million ounces; Hulse et al. 2020)(3); the AurMac Project with an Indicated Mineral Resource of 112.5 million tonnes grading 0.63 gram per tonne gold (2.274 million ounces)(4) plus an Inferred resource of 280.6 million tonnes grading 0.60 g/t gold (5.454 million ounces)(4), the Valley Deposit, with a current Measured and Indicated Mineral Resource of 7.94 million oz gold at 1.21 g/t and an additional Inferred Mineral Resource of 0.89 million oz at 0.62 g/t gold(5), and the Raven deposit with an inferred mineral resource of 1.1 million oz (19.96 million tonnes at 1.67 g/t gold)(6). The QP has been unable to verify the information regarding the above resource estimations and the information is not necessarily indicative of the mineralization on the property that is the subject of the disclosure.
Source
Eric Sprott announces that, today, 2176423 Ontario Ltd., a corporation which is beneficially owned by him, acquired 249,300 common shares (Shares) of Maritime Resources Corp over the TSX Venture Exchange (representing approximately 0.2% of the outstanding shares on a non-diluted basis) at an average price of approximately $2.20 per share for aggregate consideration of approximately $549,208.
Prior to the Acquisition of Shares, Mr. Sprott beneficially owned 10,005,700 Shares and 2,666,700 Share purchase warrants (Warrants) representing approximately 8.1% of the outstanding on a non-diluted basis, and approximately 10.0% on a partially diluted basis assuming exercise of such Warrants
As a result of the acquisition of Shares, Mr. Sprott now beneficially owns 10,255,000 Shares and 2,666,700 Warrants, representing approximately 8.3% of the outstanding Shares on a non-diluted basis and 10.2% of the outstanding Shares on a partially-diluted basis assuming exercise of such Warrants, being an increase in holdings above 10% and, therefore, the filing of an early warning report.
The Shares were acquired for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
Maritime Resources is located at 3200-650 West Georgia St., c/o Harper Grey LLP, Vancouver, British Columbia, V6B 4P7. A copy of the early warning report with respect to the foregoing will appear on Maritime Resources’ profile on SEDAR+ at www.sedarplus.ca and may also be obtained by calling Mr. Sprott’s office at (416) 945-3294 (2176423 Ontario Ltd., 1106-7 King Street East, Toronto, Ontario, M5C 3C5).
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274282
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Rio Silver Inc. (the ‘Company’ or ‘Rio Silver’) (TSX.V: RYO,OTC:RYOOD) (OTC: RYOOF) is pleased to announce that it has closed its non-brokered private placement (the ‘Offering’), previously announced on September 24, 2025, by issuing an aggregate of 22,000,000 units of the Company (the ‘Units’) at a price of $0.10 per Unit for gross proceeds of $2,200,000.
Each Unit is comprised of one common share of the Company and one share purchase warrant (a ‘Warrant’), with each Warrant exercisable to purchase an additional common share of the Company at a price of $0.15 per common share for a period of three years from the date of issue, subject to early expiry in the event that the closing price of the common shares of the Company is $0.25 or higher for fifteen consecutive trading days at any time after the closing of the Offering, upon which the Warrants will expire thirty calendar days after notice to warrant holders through the Company’s announcement with respect to the early expiry date.
In connection with the closing of the Offering, the Company paid finders’ fees of $70,920 in cash and issued 709,200 finder’s warrants, having the same term as the Warrants, in payment of finder fees. All securities issued are subject to a statutory 4-month hold period expiring on March 12, 2026.
The Company intends to use the net proceeds of the Offering towards the exploration and development of the Company’s projects in Peru, exploration and development of the Gerow Lake project in Northern Ontario and for general working capital purposes. Notwithstanding the foregoing, the Company will not use the proceeds of the Offering on the Maria Norte project until the TSX Venture Exchange has approved of the acquisition of the Maria Norte project, announced March 26, June 25, August 12 and September 17, 2025.
ON BEHALF OF THE BOARD OF DIRECTORS OF Rio Silver INC.
Chris Verrico
Director, President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
For further information,
Christopher Verrico, President, CEO
Tel: (604) 762-4448
Email: chris.verrico@riosilverinc.com
Website: www.riosilverinc.com
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required by applicable laws.
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Standard Uranium offers high-grade uranium discovery potential in the Athabasca Basin. With a fully funded drill program scheduled for spring 2026 at its flagship Davidson River project, and joint ventures on other highly prospective projects, the company provides investors early stage exposure to the emerging nuclear energy market.
Standard Uranium (TSXV:STND,USOTC:STTDF,FRA:9SU0) is a uranium exploration and project generation company focused on advancing high-grade uranium discoveries within the world-famous Athabasca Basin in Saskatchewan, Canada.
With a mission to “supply the fuel for a clean energy future,” Standard Uranium is focused on discovering and developing basement-hosted and unconformity-related uranium deposits that can power the growth of nuclear energy. Its dual-track model combines aggressive exploration at its flagship Davidson River project with a robust project generator platform, advancing multiple projects through partnerships while generating non-dilutive cash flow in operator fees, share payments, and royalties.
With 13 projects totaling more than 235,000 acres, Standard Uranium offers investors exposure to both immediate discovery catalysts and long-term portfolio value. Its leadership team brings deep geological expertise and operational experience across the Athabasca Basin, complemented by disciplined capital management.
As global governments reaffirm nuclear energy’s role in achieving net-zero targets, Standard Uranium is positioned to capitalize on the growing demand for secure, high-grade uranium supply from Canada.
Located in the southwest Athabasca Basin, approximately 25 kilometres west of NexGen’s Arrow deposit and Paladin Energy’s Triple R deposit, the Davidson River project spans 30,737 hectares across 10 contiguous mineral claims. The property lies along the same structural trends that hosts these globally significant discoveries.
To date, Standard Uranium has drilled 16,561 metres across 39 holes, intersecting wide, graphitic-sulphidic shear zones, structural deformation, and alteration features characteristic of high-grade basement uranium systems. Recent multiphysics and machine learning-assisted surveys conducted in partnership with Fleet Space Technologies and GoldSpot Discoveries have provided new three-dimensional imaging of subsurface structures, identifying refined targets along the Warrior, Bronco and Thunderbird corridors.
The company is preparing for an 8,000 to 10,000-meter diamond drill campaign scheduled for spring 2026, marking its most comprehensive program to date. With modern targeting data and strong geological indicators, Davidson River represents the company’s clearest path to a transformational discovery in the southwest Athabasca Basin.
Located in the northwestern Athabasca Basin near Uranium City, the Sun Dog project consists of nine mineral claims totaling 19,603 hectares. This highly prospective property sits in a historically productive uranium district that remains underexplored by modern methods.
Surface sampling has identified several uranium-rich showings, including modern grab samples returning grades up to 3.58 percent U₃O₈. The project’s targets are associated with structural intersections and alteration zones consistent with basement-hosted and unconformity-related uranium systems.
Standard Uranium has partnered with Aero Energy, under a three-year earn-in agreement, allowing Aero to acquire up to a 100 percent interest in the project. The partnership structure ensures ongoing advancement at Sun Dog with Standard Uranium retaining a 2.5 percent NSR royalty, providing continued exposure to discovery success without direct funding requirements.
The Corvo project in the eastern Athabasca Basin covers 12,265 hectares and represents one of Standard Uranium’s most promising partner-funded assets. The project lies along three major magnetic low and EM conductor trends extending for nearly 29 kilometres of prospective strike length.
The project is currently being advanced under a joint venture with Aventis Energy, which is funding exploration work through a three-year earn-in agreement. Standard retains a 25 percent ownership interest and a 2.5 percent NSR, while acting as operator during the earn-in phase.
Historical drilling and sampling have confirmed uranium mineralization, including the “Manhattan” showing, where modern surface grab samples collected by the company in 2025 returned assays up to 8.10 percent U3O8. These results highlight the property’s potential to host near-surface, high-grade uranium deposits.
The Rocas project, located in the southeastern Athabasca Basin region, lies approximately 75 km southwest of the Key Lake mine and mill and covers 4,002 hectares along a 7.5-km northeast-trending magnetic low and EM conductor corridor.
Surface exploration has confirmed uranium mineralization at outcrop, with historical grab samples grading up to 0.5 percent U₃O₈ across nearly 900 metres of strike length. Historical surveys have also identified lakebed geochemical anomalies and structural features that indicate potential zones of hydrothermal alteration, ideal settings for basement-hosted uranium deposits.
In 2025, Standard Uranium executed an option agreement with Collective Metals, granting the partner 75 percent earn-in over three years in exchange for staged cash payments, share issuances, and $4.5 million in exploration spending. Standard retains a 25 percent ownership interest and a 2.5 percent NSR, while acting as operator during the earn-in phase.
Beyond its flagship and joint-venture assets, Standard Uranium holds eight additional exploration-stage properties across the eastern Athabasca Basin, including Ascent, Canary, Atlantic, Cable Bay, Ox Lake, Umbra, Brown Lake and Sable. Together, these projects cover over 43,000 hectares of highly prospective ground along established uranium trends near recent discoveries by Denison Mines and IsoEnergy.
These projects represent the company’s pipeline of future partnerships and discovery opportunities, ensuring consistent exploration activity across the Basin.
Jon Bey is a capital markets executive with over two decades of experience in the junior exploration industry. Bey has explored for uranium, gold, silver, diamonds and oil and gas in the Americas, Europe, Asia and Africa. He has public company experience across several sectors and with companies listed on the TSX, TSXV, CSE and LSE exchanges. Bey is the chairman of Ophir Metals and the founder and managing director of the Steel Rose Group of companies.
Sean Hillacre has over a decade of experience as an economic geologist in the Athabasca Basin uranium district, including five years at NexGen Energy as part of the technical team progressing the Arrow uranium deposit toward production. A high-energy, results oriented geoscientist, Hillacre brings a unique and balanced background integrating academic geoscience with industry experience, along with a comprehensive understanding of project development.
Vivien Chuang is a chartered professional accountant (BC, Canada) with more than 15 years of experience in the resource and mining sector. She was a former CFO of Azincourt Energy, BluEnergies, Muzhu Mining, and Northern Empire Resources, K2 Gold Corporation and Chakana Copper (formerly Remo Resources). Currently, she is VP Finance of Jasper Management and Advisory and president of VC Consulting, which provides CFO and other financial accounting and compliance services to a number of companies.
Neil McCallum has over 15 years of experience primarily in North American mineral deposit exploration, with a focus on targeting and discovery of unconformity-related uranium deposits. He is currently a project manager at Edmonton-based Dahrouge Geological Consulting. McCallum has managed and conducted uranium exploration in and around the Athabasca Basin and other jurisdictions for multiple companies.
A bill to end the record-breaking U.S. government shutdown is headed to President Donald Trump’s desk after more than 42 days.
Federal funding legislation aimed at opening the government passed in the House Wednesday evening, ending the weeks-long fiscal standoff that has largely paralyzed Congress since Oct. 1. Republicans on the House floor erupted in cheers when the bill prevailed while the majority of Democrats quietly exited the chamber.
The White House said Trump would sign the bill at 9:45 p.m. this evening.
Six Democrats voted with all but two Republicans to pass the bill with a 222 to 209 margin. The Democrats who voted in favor of the legislation are Reps. Tom Suozzi, D-N.Y., Henry Cuellar, D-Texas, Adam Gray, D-Calif., Marie Gluesenkamp Perez, D-Wash, and Don Davis, D-N.C.
When the House took its initial vote on federal funding legislation on Sept. 19, just one Democrat — Golden — voted with the GOP.
The vast majority of House Democrats opposed the bill, however, including their senior ranks.
House Minority Leader Hakeem Jeffries, D-N.Y., reiterated to reporters hours before the vote that Democrats were frustrated the bill did not do anything about COVID-19 pandemic-era healthcare subsidies under Obamacare, also known as the Affordable Care Act (ACA). Those enhanced tax credits expire this year.
‘House Democrats are here on the Capitol steps to reiterate our strong opposition to this spending bill because it fails to address the Republican healthcare crisis, and it fails to extend the Affordable Care Act tax credit,’ Jeffries said.
House Speaker Mike Johnson, R-La., sounded optimistic in comments to reporters Wednesday morning ahead of the vote, however.
‘I wanted to come out and say that we believe the long national nightmare will be over tonight,’ Johnson said. ‘It was completely and utterly foolish and pointless in the end.’
Some drama threatened to crack House GOP unity earlier in the day, however, as some Republicans in the lower chamber seethed over a last-minute provision added to the bill that allows senators whose communications were tapped during former Special Counsel Jack Smith’s probe to sue the federal government for $500,000 each.
Reps. Chip Roy, R-Texas, Austin Scott, R-Ga., and Morgan Griffith, W.Va., all shared concerns with the measure but said they would not extend the government shutdown over it.
Johnson appeared to placate their and others’ concerns, at least for now, with a promise to vote next week on separate legislation repealing that provision.
Rep. Greg Steube, R-Fla., told reporters he would vote against the bill over its inclusion, however.
‘I’m not voting to send Lindsey Graham half a million dollars,’ he told reporters.
He and Rep. Thomas Massie, R-Ky., voted against the final bill, but their opposition was not enough to sink legislation.
Meanwhile, the shutdown’s effects on the country have grown more severe by the day.
Many of the thousands of air traffic controllers and Transportation Security Administration (TSA) agents who had to work without pay were forced to take second jobs, causing nationwide flight delays and cancellations amid staffing shortages at the country’s busiest airports. Millions of Americans who rely on federal benefits were also left in limbo as funding for critical government programs ran close to drying out.
At the heart of the issue was Democratic leaders’ refusal to back any funding bill that did not also extend the enhanced Obamacare subsidies. Democrats argued it was their best hope of preventing healthcare price hikes for Americans across the U.S.
Republicans agreed to hold conversations on reforming what they saw as a broken healthcare system, but they refused to pair any partisan priority with federal funding.
In the end, a compromise led by the Senate — which saw eight Democrats in the upper chamber join colleagues to pass the bill in a 60 to 40 vote — included a side deal guaranteeing the left a vote on extending the enhanced subsidies sometime in December.
Johnson has made no such promise in the House, however.
And the lack of a guarantee on extending those subsidies has angered progressives and Democratic leaders.
‘What were Republicans willing to give in the end, other more than a handshake deal to take a future vote on extending the healthcare subsidies?’ Rep. Shomari Figures, D-Ala., said Wednesday. ‘We all know that a future vote is the equivalent of asking two wolves and a chicken to vote on what’s for dinner. It is dead on arrival.’
Republican Study Committee Chairman August Pfluger, R-Texas, criticized Democrats for prolonging the shutdown for little payoff.
‘They literally got absolutely nothing except for a total and complete surrender, that accomplished nothing more than hurting American families,’ he said.
The bill kicks the current federal funding fight to Jan. 30, by which point House GOP leaders said they were confident they’ll finish work on a longer-term deal for fiscal year 2026.
It also includes full-year federal spending for the Department of Agriculture, the legislative branch, and the Department of Veterans Affairs — three of 12 annual appropriations bills that Congress is tasked with passing annually.
‘There are nine remaining bills, and we’d like to get all of those done in the next few weeks. And, so, [House Appropriations Committee Chairman Tom Cole, R-Okla.] and his appropriators will be working overtime,’ House Majority Leader Steve Scalise, R-La., told Fox News Digital.
Asked if he thought they’d get it done by that date, Cole said, ‘I think we can.’
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Saga Metals Corp. (‘ SAGA ‘ or the ‘ Company ‘) (TSXV: SAGA,OTC:SAGMF) (FSE: 20H), a North American exploration company advancing critical mineral discoveries, is pleased to announce that it has entered into an agreement with Red Cloud Securities Inc. (‘ Red Cloud ‘) to act as sole agent and bookrunner in connection with a ‘best efforts’ private placement (the ‘ Marketed Offering ‘) for aggregate minimum gross proceeds of C$3,000,000 and maximum gross proceeds of C$5,000,000 from the sale of any combination of the following:
Each Unit will consist of one common share of the Company (a ‘ Unit Share ‘) and one common share purchase warrant (each, a ‘ Warrant ‘). Each FT Unit and Charity FT Unit will consist of one common share of the Company to be issued as a ‘flow-through share’ within the meaning of subsection 66(15) of the Income Tax Act (Canada) (each, a ‘ FT Share ‘) and one Warrant. Each Warrant shall entitle the holder to purchase one common share of the Company (each, a ‘ Warrant Share ‘) at a price of C$0.60 at any time on or before that date which is 36 months after the Closing Date (as herein defined).
The Company also grants Red Cloud an option, exercisable in full or in part up to 48 hours prior to the closing of the Marketed Offering, to sell up to an additional C$1,000,000 in any combination of Units, FT Units and Charity FT Units at their respective offering prices (the ‘ Agent’s Option ‘). The Marketed Offering and the securities issuable upon exercise of the Agent’s Option shall be collectively referred to as the ‘ Offering ‘.
The Company intends to use the net proceeds from the Offering for the exploration of the Company’s properties in Labrador, Canada, including the Company’s Radar Project, as well as for working capital and general corporate purposes, as is more fully described in the Offering Document (as herein defined).
The gross proceeds from the sale of FT Shares will be used by the Company to incur eligible ‘Canadian exploration expenses’ that qualify as ‘flow-through critical mineral mining expenditures’ as both terms are defined in the Income Tax Act (Canada) (the ‘ Qualifying Expenditures ‘) related to the Company’s properties in Labrador, Canada on or before December 31, 2026. All Qualifying Expenditures will be renounced in favour of the subscribers of the FT Units and Charity FT Units effective December 31, 2025.
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (‘ NI 45-106 ‘), the Un Offered Securities will be offered for sale to purchasers resident in the provinces of Alberta, British Columbia, Manitoba, Ontario and Saskatchewan (the ‘ Canadian Selling Jurisdictions ‘) pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the ‘ Listed Issuer Financing Exemption ‘). The securities issuable from the sale of the Units and Charity FT Units are expected to be immediately freely tradeable in accordance with applicable Canadian securities legislation for securities sold to purchasers resident in Canada. The Units may also be sold in offshore jurisdictions and in the United States on a private placement basis pursuant to one or more exemptions from the registration requirements of the United States Securities Act of 1933 , as amended (the ‘ U.S. Securities Act ‘).
The FT Units and securities issuable in connection therewith will be subject to a hold period in Canada ending on the date that is four months plus one day following the Closing Date (defined below).
There is an offering document (the ‘ Offering Document ‘) related to the Offering that can be accessed under the Company’s profile at www.sedarplus.ca and on the Company’s website at: www.sagametals.com. Prospective investors should read this Offering Document before making an investment decision.
The Offering is scheduled to close on December 5, 2025 or such other date as the Company and Red Cloud may agree (the ‘ Closing Date ‘). Completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.
The securities to be offered pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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 North American transition to supply security. 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 commodities crucial for the clean energy future, SAGA is strategically positioned to play an essential role in critical mineral security.
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 Company’s plans and objectives in respect of the terms and conditions of the Offering, the intended use of proceeds from the Offering, the anticipated closing of the Offering and certain matters regarding the Offering Document. 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.
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