Ormat Technologies (NYSE:ORA) confirmed it has signed a long-term agreement to supply up to 150 megawatts of geothermal power to support Google’s data center operations in Nevada.
The Reno-based renewable energy company announced Tuesday (February 17) that it entered into a portfolio power purchase agreement (PPA) with NV Energy, the Berkshire Hathaway-owned utility serving Nevada.
The electricity will ultimately support Alphabet (NASDAQ:GOOGL) Inc.’s Google under NV Energy’s Clean Transition Tariff (CTT) framework.
Under the terms of the deal, Ormat will develop a series of new geothermal projects across Nevada capable of delivering up to 150 MW of capacity. The projects are expected to come online between 2028 and 2030.
The contract term will begin once the first project achieves commercial operation and will extend 15 years beyond the commercial operation date of the final project, creating a long-duration revenue stream.
The structure allows projects to be added to the portfolio as they reach commercial operation, giving Ormat flexibility in staging development while providing Google with a scalable source of clean, around-the-clock electricity.
“AI is fundamentally increasing electricity demand across the technology sector, and geothermal power is uniquely positioned to deliver the reliable, carbon-free power required to support that growth,” said Ormat CEO Doron Blachar. “This portfolio PPA provides long-term profitable revenue growth and clear visibility into our portfolio development plans, while solidifying our conviction in the expanded exploration and drilling activities we have undertaken over the past several years that laid the groundwork for securing this significant agreement and others like it.”
Blachar added that the agreement, combined with the extension of geothermal tax credits under the OBBBA framework, strengthens Ormat’s ability to execute its long-term growth strategy.
“The momentum of the Clean Transition Tariff through this agreement with NV Energy, Google and Ormat demonstrates a proven, scalable model for large customers to partner with utilities and technology providers to bring new clean capacity to the grid,” said Briana Kobor, Google’s Head of Energy Market Innovation.
The Clean Transition Tariff enables large energy users to procure new clean generation while covering the full costs of their electric service, a structure designed to prevent cost shifts to other customers.
Ormat said the framework could be replicated in other US electricity markets.
The announcement was well received by investors. Ormat shares rose as much as 8.1 percent intraday, marking the company’s largest single-day gain since 2023.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
LaFleur Minerals Inc. (CSE: LFLR,OTC:LFLRF) (OTCQB: LFLRF) (FSE: 3WK0) (‘LaFleur Minerals’ or the ‘Company’) is pleased to provide an update on the advancement of its Beacon Gold Mill restart plans, further to the Company’s press release dated January 26, 2026, which outlined its near-term production strategy and the ongoing advancement of its comprehensive Preliminary Economic Assessment (‘PEA’). The Company’s assets, the Swanson Gold Deposit and Beacon Gold Mill, lie in the heart of the Val-d’Or, Québec mining camp, on the prolific Abitibi Greenstone Belt, Canada’s largest gold producing region.
Valley of Gold, Val-d’Or, Québec
The Val-d’Or/Rouyn-Noranda mining camp is a premier gold mining hub within the Abitibi Greenstone Belt of Québec with over 73 million ounces of gold produced from 1926 to 2019 (source: DigiGeoData). The Val-d’Or mining district, known as the ‘Valley of Gold,’ is characterized by Archean greenstone-hosted orogenic gold deposits typically found in quartz-tourmaline-carbonate veins. The Lamaque Complex is located in Val-d’Or and operated by Eldorado Gold Inc. Commercial production was declared at the Triangle mine on March 31, 2019, and has since produced over 1 Moz of gold (source: Eldorado Gold website). The Lamaque Complex deposits are located within the prolific Val-d’Or district that hosts the historical Lamaque and Sigma Mines. Collectively, these mines produced nearly 9.5 million ounces of gold between 1937 and 2012 (source: Cowen, E.J, 2020. Miner Deposita 55, p217-240). The region is host to numerous other gold deposits or exploration stage projects that surround LaFleur Minerals’ 100%-owned Beacon Gold Mill (Figure 1). Please note that mineralization on these adjacent properties is not necessarily indicative of mineralization on the Company’s properties.
Figure 1: Regional View of LaFleur’s Beacon Gold Mill and Swanson Gold Project
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LaFleur Minerals: Restarting Gold Production at 100%-Owned Mill in the Valley of Gold
LaFleur’s Minerals Beacon Gold Mill, Swanson Gold Deposit, and Beacon Tailings Pond are situated centrally within the prolific southern Abitibi Greenstone Belt. The Beacon Gold Mill, located in the heart of this mining camp, underwent more than $20 million in recent upgrades and modernization prior to its most recent gold production in 2022, when gold prices were approximately $2,000 per ounce. Today, with gold prices significantly higher, breaking above $4,900 per ounce, the Company believes that the strategic value of owning the fully permitted Beacon Gold Mill, Tailings Pond, and related infrastructure within such a prolific gold district provides a compelling foundation for near-term gold production and long-term district-scale growth.
Beacon Mill Restart Progress
Refurbishment and site upgrade activities are progressing well. As of today, work continues to advance steadily across critical plant systems, with several major components now refurbished or nearing operational readiness.
Electrical upgrades and winterization improvements have largely been completed, helping ensure reliable year-round operations. On the mechanical side, numerous pumps, material handling systems, and key processing components have been inspected, repaired, and prepared for restart. Structural integrity inspections have confirmed the plant remains in good condition. Modern safety upgrades, including hydroelectric, fire protection, and enhanced security surveillance, are now in place.
To date, approximately 30% of the total budget has been spent on the project, which remains firmly under cost control, with substantial physical progress achieved while maintaining strong financial flexibility.
These initiatives represent important milestones as the Company prepares for re-commissioning and the mill’s restart, anchored by a vertically-integrated mine-to-mill portfolio that includes the Company’s Swanson Gold Deposit, just 60 kilometres from the Beacon Gold Mill, the Beacon Gold Mill and Tailings Pond. LaFleur Minerals’ strategy focuses on combining resource development at the Swanson Gold Deposit with the permitted Beacon Gold Mill to accelerate the pathway to production.
Figure 2: LaFleur’s Beacon Gold Mill
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Figure 3: Inside LaFleur’s Beacon Gold Mill
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Figure 4: Inside LaFleur’s Beacon Gold Mill
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To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/6526/284272_8c1565e204f76b48_005full.jpg
Swanson Gold Continues to Deliver Results
Swanson Gold Deposit’s recent drill campaign has validated strong gold continuity, long mineralized intercepts including a standout intercept of 2.05 g/t Au over 158.25 metres (Hole SW-25-066), narrow high-grade results including 121.0 g/t Au over 1.1 metres and new shallow discoveries beyond the current Swanson Deposit footprint, reinforcing Swanson’s potential as a scalable, district-scale gold asset and long-term source of mill feed for the Company’s nearby Beacon Gold Mill (refer to press release dated February 4, 2026).
Paul Ténière, Chief Executive Officer of LaFleur Minerals Inc., commented, ‘LaFleur Minerals has assembled what we believe is a technically differentiated and strategically rare asset base for a company at our stage of development. After only ~18 months of listing on the CSE, we control a district-scale exploration project at the Swanson Gold Deposit as potential primary feed source, the Beacon Tailings Pond, and fully permitted processing infrastructure, the Beacon Gold Mill. It is highly uncommon for emerging resource companies to simultaneously hold a large-scale exploration land package and access to owned milling infrastructure, particularly this early in their corporate lifecycle. LaFleur Minerals is advancing its PEA in parallel with the refurbishment of an existing processing facility, materially compressing the timeline between resource delineation and potential production. As our PEA approaches completion, targeted for March 2026, and as we prepare for pre-operational tests and system checks at the Beacon Gold Mill in the coming months, we are transitioning from pure exploration and development to gold production execution, positioning LaFleur Minerals as a near-term production story supported by tangible infrastructure and a district-scale growth platform.’
The Company’s impending PEA will provide updated economic metrics and a development roadmap aligned with its near-term production objectives. Concurrently, mill refurbishment activities remain on schedule, positioning LaFleur for operational readiness as market conditions remain favourable. With gold prices now exceeding $4,900 per ounce, the strategic value of controlling both feed and processing capacity becomes even more significant. LaFleur Minerals’ integrated asset portfolio provides optionality, capital efficiency, and operational leverage to gold price appreciation.
Further updates will be provided as key milestones are achieved.
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QUALIFIED PERSON STATEMENT AND DATA VERIFICATION
All scientific and technical information in this news release has been prepared and approved by Louis Martin, P.Geo. (OGQ), Exploration Manager and Technical Advisor of the Company and considered a Qualified Person (QP) for the purposes of NI 43-101.
About LaFleur Minerals Inc.
LaFleur Minerals Inc. (CSE: LFLR,OTC:LFLRF) (OTCQB: LFLRF) (FSE: 3WK0) is focused on the development of district-scale gold projects in the Abitibi Gold Belt near Val-d’Or, Québec. The Company’s mission is to advance mining projects with a laser focus on our resource-stage Swanson Gold Project and the Beacon Gold Mill, which have significant potential to deliver long-term value. The Swanson Gold Project is approximately 18,304 hectares (183 km2) in size and includes several prospects rich in gold and critical metals previously held by Monarch Mining, Abcourt Mines, and Globex Mining. LaFleur has recently consolidated a large land package along a major structural break that hosts the Swanson, Bartec, and Jolin gold deposits and several other showings which make up the Swanson Gold Project. The Swanson Gold Project is easily accessible by road allowing direct access to several nearby gold mills, further enhancing its development potential. LaFleur Minerals’ fully-permitted and refurbished Beacon Gold Mill is capable of processing over 750 tonnes per day and is being considered for processing mineralized material from Swanson and for custom milling operations for other nearby gold projects.
ON BEHALF OF LaFleur Minerals INC. Paul Ténière, M.Sc., P.Geo. Chief Executive Officer E: info@lafleurminerals.com LaFleur Minerals Inc. 1500-1055 West Georgia Street Vancouver, BC V6E 4N7
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Statement Regarding ‘Forward-Looking’ Information
This news release includes certain statements that may be deemed ‘forward-looking statements’. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects’, ‘plans’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘projects’, ‘potential’ and similar expressions, or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’ or ‘should’ occur. Forward-looking statements in this news release include, without limitation, statements related to the use of proceeds from the Offering. 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 may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/284272
A newly proposed bill by House Republicans would cement President Donald Trump’s energy agenda by taking a sledgehammer to a vast array of his Democrat predecessor’s regulations.
Rep. Craig Goldman, R-Texas, is introducing legislation that would give all future energy-related regulations a five-year sunset window, while requiring many existing rules to be amended with a one-year expiry pending a review process.
It comes after Trump levied a similar executive order that would target energy red tape imposed by former President Joe Biden during his first year in office.
But if Goldman’s bill becomes law, it would significantly hamstring the ability of future Democratic administrations to impose new long-term energy policies like Biden’s, many of which Republicans have panned as burdensome and unnecessary.
He argued to Fox News Digital that those regulations were compounding the rising costs Americans have seen in their daily lives.
‘It is going through and looking at every single cost, basically from start to finish, of energy costs, and how it affects every single American taxpayer,’ Goldman said of his legislation.
‘All anyone has to do is look at where they were a year and a half ago with costs of certain things. It was all based on regulations passed by the Biden administration, and that’s exactly what we hope to cut and codify.’
The Texas Republican pointed out that increased energy costs, including prices at the gas pump, bled into other facts of Americans’ daily lives.
‘My dad and I owned a wine and food store and, yeah, when gas prices went up, the guy who drove the 18-wheeler full of cheese from Chicago, Illinois, charged us an extra $2,000 for that delivery because his gas prices were up tremendously. And so we couldn’t afford to eat that cost, so the cheese prices went up,’ he said as an example.
‘Everything that every single American taxpayer touches — whether they know it or not, when energy prices are high, their cost of living is in turn going to be high.’
His legislation would primarily target regulations issued under major energy and land laws overseen by the Department of Energy and Department of the Interior.
The House has already voted to roll back a number of Biden-era regulatory policies so far this term and with bipartisan support.
Last month, 11 Democrats voted with Republicans to overturn Biden administration regulations on showerhead pressure.
Both the House and Senate passed resolutions early last year to overturn Biden-era regulations targeting water heaters, with six Democrats joining Republicans in the House on that measure.
Rising energy costs have been targeted by both parties as they make competing arguments ahead of the November 2026 midterms.
But Goldman is arguing that Democrats have less of a footing to talk about affordability with select goods like gas seeing a decrease in prices this year.
‘We pushed back, and we made people realize, ‘No, wait a minute. Let’s talk about affordability. Let’s talk about where the cost of things were just over a year and two months ago, before Donald Trump came into office and before Republicans could push through good legislation that President Trump signed,’ Goldman said. ‘I kind of find it quite interesting that all of a sudden the buzzword affordability isn’t much talked about anymore.’
Co-sponsors of Goldman’s bill include Republican Study Committee Chairman August Pfluger, R-Texas, and Reps. Beth Van Duyne, R-Texas, Randy Weber, R-Texas, Dan Crenshaw, R-Texas, Anna Paulina Luna, R-Fla., Pat Harrigan, R-N.C., and Barry Moore, R-Ala.
A Senate counterpart was introduced by Sen. Jim Risch, R-Idaho.
Here’s a quick recap of the crypto landscape for Wednesday (February 18) as of 9:00 a.m. UTC.
Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.
Bitcoin (BTC) was priced at US$68,092.31, down 0.3 percent over the last 24 hours.
Bitcoin price performance, February 18, 2026.
Chart via TradingView
Ether (ETH) was priced at US$2,019.43, up by 0.3 percent over the last 24 hours.
Altcoin price update
XRP (XRP) was priced at US$1.49, up by 0.6 percent over 24 hours.
Solana (SOL) was trading at US$85.41, down by 1.9 percent over 24 hours.
Today’s crypto news to know
CLARITY Act advances as regulators close ranks
Momentum is building behind the Digital Asset Market Clarity Act of 2025 as lawmakers and regulators signal rare alignment on crypto market structure.
The House has already passed the bill, leaving the Senate as the next hurdle, where committee markups and cross-panel negotiations will determine whether it reaches the floor. Treasury Secretary Scott Bessent said Congress should pass CLARITY “this spring.”
At a recent House hearing, SEC Chair Paul S. Atkins backed the effort and outlined a joint SEC–CFTC initiative dubbed “Project Crypto” aimed at clarifying token classifications while legislation moves forward.
The Securities and Exchange Commission and Commodity Futures Trading Commission have long sparred over jurisdiction, so public coordination signals expectations that durable reform may be imminent. Meanwhile, the Senate Agriculture Committee has advanced the Digital Commodity Intermediaries Act, which lawmakers say builds on the House framework and incorporates bipartisan input.
If enacted, the bill would shift oversight from enforcement-by-interpretation to clearer statutory categories for exchanges, brokers, issuers and market makers.
California sets crypto licensing deadline under DFAL
California is moving ahead with state-level crypto oversight, confirming that firms serving residents must secure a Digital Financial Assets Law license, or apply for one, by July 1, 2026.
Applications open March 9 through the Nationwide Multistate Licensing System, according to the California Department of Financial Protection and Innovation. Signed by Governor Gavin Newsom in 2023, DFAL creates a comprehensive licensing regime covering exchanges, custodians and crypto kiosks.
The law has drawn comparisons to New York’s BitLicense, which once prompted several firms to exit that state.
“California is the fourth-largest economy in the world, so its regulatory choices inevitably carry weight,” said Joe Ciccolo of the California Blockchain Advocacy Coalition. He added that clearer rules could attract institutional capital but warned that smaller operators may opt to leave rather than meet stricter standards. With roughly a quarter of U.S. blockchain firms based in the state, the rollout could shape national compliance strategies.
Peter Thiel exits Ethereum treasury bet
Billionaire investor Peter Thiel has fully divested his stake in ETHZilla, according to a recent SEC filing showing zero beneficial ownership as of year-end 2025.
The exit marks a sharp reversal from August, when Thiel disclosed a 7.5 percent position that was widely viewed as a vote of confidence in corporate Ethereum treasury models. The filing indicates no remaining voting or dispositive power tied to Thiel or affiliated Founders Fund entities.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Cartier Resources Inc. (″ Cartier ″ or the ″ Company ″) (TSXV: ECR,OTC:ECRFF; FSE: 6CA) is pleased to announce the eighth batch of results from the 100,000-m drilling program (2 drill rigs), for the Nordeau Sector and more precisely, the East Nordeau Zone (″ ENZ ″), on the 100%-owned Cadillac Project, located in Val-d’Or (Abitibi, Quebec). The ENZ consists of two parallel high-grade gold zones: EN1 and EN2, spaced approximately 25 m apart.
Strategic Highlights from Nordeau Sector
Drill Hole Results (Figures 1 to 4)
CA25-565 intersected 23.2 g/t Au over 1.0 m (EN1 Zone).
CA26-570 graded 11.9 g/t Au over 1.0 m (EN1 Zone) and 14.1 g/t Au over 1.0 m (EN2 Zone).
CA26-572 reported 7.3 g/t Au over 1.0 m (EN1 Zone).
Significance for Investors
Holes CA25-565, CA26-570 and 572 confirm the newly recognized ENZ high-grade gold zone near surface. The mineralization extends over a minimum of 400 m in strike length and remains open at depth.
New mineralization environment withiron formations indicates a strong opportunity for making gold discoveries, increasing the scale of target area in the Nordeau Sector.
Most importantly, ENZ is strategically located just 800 metres south of Contact Sector and the new emergent high-grade gold North Contact Zone, signaling significant upside exploration potential.
Next Steps
Further expansion drilling is planned to significantly refine the geological model, verify the mineralization continuity and determine the gold enrichment.
Additional exploration drilling is required to test several new high-priority regional targets along strike of the Nordeau Sector and the Cadillac Fault Zone, backed by detailed structural and geological modelling and VRIFY’sartificial intelligence (AI) driven targeting.
‘ The Nordeau Sector now becomes the third sector to return significant gold results from our 100,000-meter drill campaign, underscoring the growing scale and strength of the mineralized system. With no fewer than 11 sectors to be drilled, this aggressive program is designed to unlock multiple new gold discoveries and firmly establish the Cadillac Project as a camp-scale gold opportunity with upside exploration potential.‘ – Philippe Cloutier, President and CEO of Cartier.
‘ The initial results from the Nordeau Sector indicate a gold enrichment trend comparable to that observed in the North Contact Zone of the Contact Sector. These findings also suggest that the sector may exhibit a slightly different structural geometry than that identified in the Main Sector and at the past-producing Chimo mine. This drilling program is designed to confirm this interpretation and further define the sector’s potential, with the objective of unlocking additional value for shareholders. ‘ – Ronan Deroff, Vice President Exploration of Cartier.
Table 1: Drill hole best assay results from Nordeau Sector
Hole Number
From (m)
To (m)
Core Length** (m)
Au (g/t) Uncut
Vertical Depth (m)
Zone
CA25-561
249.9
250.9
1.0
4.9
≈160
–
CA25-565
68.0
69.0
1.0
23.2
≈70
EN1
CA26-570
33.0
34.0
1.0
11.9
≈25
EN1
And
78.0
79.0
1.0
14.1
≈60
EN2
CA26-572
117.0
118.0
1.0
7.3
≈90
EN1
* Occurrences of visible gold (VG) have been noted in the drill core at various intervals. ** Based on the observed intercept angles within the drill core, true thicknesses are estimated to represent approximately 70-95% of the reported core length intervals.
Figure 1: Location of the new drill results (regional plan view)
Figure 2: Location of the new drill results (regional longitudinal section)
Figure 3: Plan view, cross and long sections of the Nordeau Sector
Figure 4: Photos of the drill core from holes CA25-565 and CA26-570
Nordeau Sector
The Nordeau Sector is a highly prospective area featuring the East Nordeau Zone with indicated resources of 17,500 ounces (0.3 million tonnes at 1.7 g/t Au) and inferred resources of 101,200 ounces (1.7 million tonnes at 1.9 g/t Au). The latter is the first ever resource estimate in this sector for which there has been only limited and relatively shallow testing. This sector hosts several newly defined high-priority drill targets.
The ENZ lies along an east-west trending, strongly sheared corridor (Cadillac Fault Zone) and occurs in an iron formation (Cadillac Group) within the turbiditic sedimentary rocks (wacke-mudrock) of Cadillac Group. This lithological unit is a favorable horizon for hydrothermal fluid flow, likely related to synvolcanic gold deposition.
The ENZ, defined by at least two parallel gold-rich zones, are typically and primarily associated with a medium to coarse-grained and disseminated pyrrhotite-pyrite-arsenopyrite mineralization, with a pervasive carbonate-garnet alteration, all crosscut by late-stage smoky quartz vein and veinlet stockworks.
Milestones of 2025-2027 Exploration Program
100,000 m Drilling Program (Q3 2025 to Q2 2027)
The ambitious 600-hole drilling program will both expand known gold zones and test new shallow surface high-potential targets. The objective is to unlock the camp-scale, high-grade gold potential along the 15 km Cadillac Fault Zone. It is important to note that Cartier’s recent consolidation of this large land holding offers the unique opportunity in over 90 years for unrestricted exploration.
Environmental Baseline Studies & Economic Evaluation of Chimo mine tailings (Q3 2025 to Q3 2026)
The baseline studies will be divided into two distinct parts which include 1) environmental baseline desktop study and 2) preliminary environmental geochemical characterization. The initial baseline studies will provide a comprehensive understanding of the current environmental conditions and implement operations that minimize environmental impact while optimizing the economic potential of the project. These studies will be supplemented by an initial assessment of the economic potential of the past-producing Chimo mine tailings to determine whether a quantity of gold can be extracted economically.
Metallurgical Sampling and Testwork Program (Q4 2025 to Q1 2026)
The metallurgical testwork program includes defining of expected gold recovery rates and improving historical results from the Chimo deposit, as well as establishing metallurgical recovery data for the first-time for the East Chimo and West Nordeau satellite deposits, where no previous data exists. This comprehensive program will characterize the mineralized material, gold recovery potential and validate optimal grind size defining the most efficient and cost-effective flowsheet. The data generated will directly support optimized project development and have the potential to significantly reduce both capital and operating costs, while also improving the environmental footprint.
Preliminary Economic Assessment (2026)
Internal engineering studies have been initiated to validate a multitude of development scenarios that consider the updated MRE and current market environment. Following the selection of the most optimal scenario, a PEA will be completed which will also build upon the results of the metallurgical testwork program and the environmental baseline studies to unveil the updated development strategy and vision of the project.
Table 2: Drill hole collar coordinates from Nordeau Sector
Hole Number
UTM Easting (m)
UTM Northing (m)
Elevation (m)
Azimuth (°)
Dip (°)
Hole Length (m)
CA25-561
336378
5319582
351
177
-44
261
CA25-565
336230
5319051
351
221
-73
141
CA25-566
336230
5319051
351
145
-64
151
CA26-570
335844
5319145
355
147
-56
81
CA26-571
335908
5319237
355
221
-51
174
CA26-572
335908
5319237
355
183
-52
186
Table 3: Drill hole detailed assay results from Nordeau Sector
Hole Number
From (m)
To (m)
Core Length* (m)
Au (g/t) Uncut
Vertical Depth (m)
Zone
CA25-561
249.9
250.9
1.0
4.9
≈160
–
CA25-565
68.0
69.0
1.0
23.2
≈70
EN1
CA25-566
138.0
141.1
3.1
1.1
≈120
–
Including
138.0
139.0
1.0
1.5
Including
140.0
141.1
1.1
1.1
CA26-570
26.0
27.0
1.0
2.1
≈25
EN1
And
33.4
34.0
1.0
11.9
And
78.0
79.0
1.0
14.1
≈60
EN2
CA26-571
145.0
146.0
1.0
2.4
≈110
EN2
CA26-572
108.0
109.0
1.0
1.0
≈90
EN1
Including
117.0
118.0
1.0
7.3
And
137.0
137.5
0.5
1.0
≈105
EN2
And
139.5
140.5
1.0
3.0
* Occurrences of visible gold (VG) have been noted in the drill core at various intervals. ** Based on the observed intercept angles within the drill core, true thicknesses are estimated to represent approximately 70-95% of the reported core length intervals.
Quality Assurance and Quality Control (QA/QC) Program
The drill core from the Cadillac Project is NQ-size and, upon receipt from the drill rig, is described and sampled by Cartier geologists. Core is sawn in half, with one half labelled, bagged and submitted for analysis and the other half retained and stored at Cartier’s coreshack facilities located in Val-d’Or, Quebec, for future reference and verification. As part of Quality Assurance and Quality Control (QA/QC) program, Cartier inserts blank samples and certified reference materials (standards) at regular intervals into the sample stream prior to shipment to monitor laboratory performance and analytical accuracy.
Drill core samples are sent to MSALABS’s analytical laboratory located in Val-d’Or, Quebec, for preparation and gold analysis. The entire sample is dried and crushed (70% passing a 2-millimeter sieve). The analysis for gold is performed on an approximately 500 g aliquot using Chrysos Photon Assay technology, which uses high-energy X-ray excitation with gamma detection to quickly and non-destructively measure gold content.
Alternatively, samples are submitted to Activation Laboratories Ltd. (‘Actlabs’), located in either Val-d’Or or Ste-Germaine-Boulé, both in Quebec, for preparation and gold analysis. The entire sample is dried, crushed (90% passing a 2-millimetre sieve) and 250 g is pulverized (90% passing a 0.07-millimetre sieve). The analysis for gold is conducted using a 50 g fire assay fusion with atomic absorption spectroscopy (AAS) finish, with a detection limit up to 10,000 ppb. Samples exceeding this threshold are reanalyzed by fire assay with a gravimetric finish to determine high-grade values accurately.
Both MSALABS and Actlabs are ISO/IEC 17025 accredited for gold assays and implement industry-standard QA/QC protocols. Their internal quality control programs include the use of blanks, duplicates, and certified reference materials at set intervals, with established acceptance criteria to ensure data integrity and analytical precision.
Qualified Person
The scientific and technical content of this press release has been prepared, reviewed and approved by Mr. Ronan Déroff, P.Geo., M.Sc., Vice President Exploration, who is a ″ Qualified Person ″ as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (″ NI 43-101 ″).
About Cadillac Project
The Cadillac Project, covering 14,000 hectares along a 15-kilometre stretch of the Cadillac Fault, is one of the largest consolidated land packages in the Val-d’Or mining camp. Cartier’s flagship asset integrates the historic Chimo Mine and East Cadillac projects, creating a dominant position in a world class gold mining district. With excellent road access, year-round infrastructure and nearby milling capacity, the project is ideally positioned for rapid advancement and value creation.
The Cadillac property contains total gold resource of 767,800 ounces in the measured and indicated category (10.0 Mt at 2.4 g/t Au) and 2,416,900 ounces in the inferred category (35.2 Mt at 2.1 g/t Au) across all the sectors. Please see the ″ NI 43-101 Technical Report and Mineral Resource Estimate on the Cadillac Project, Val-d’Or, Abitibi, Quebec, Canada. Pierre-Luc Richard, P.Geo. of PLR Resources Inc., Stephen Coates, P.Eng. of Evomine Consulting Inc. and Florent Baril, P.Eng. of Bumigeme Inc. ″, effective January 27, 2026.
About Cartier Resources Inc.
Cartier Resources Inc., founded in 2006 and headquartered in Val-d’Or (Quebec) is a gold exploration company focused on building shareholder value through discovery and development in one of Canada’s most prolific mining camps. The Company combines strong technical expertise and a track record of successful exploration to advance its flagship Cadillac Project. Cartier’s strategy is clear: unlock the full potential of one of the largest undeveloped gold landholdings in Quebec.
For further information, contact:
Philippe Cloutier, P. Geo. President and CEO Telephone: 819-856-0512 philippe.cloutier@ressourcescartier.com www.ressourcescartier.com
Neither 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.
Photos accompanying this announcement are available at:
Nevgold Corp. (‘NevGold’ or the ‘Company’) (TSXV:NAU,OTC:NAUFF) (OTCQX:NAUFF) (Frankfurt:5E50) is pleased to announce the high-grade oxide gold-antimony discovery of the ‘Armory Fault’ at the Bullet Zone at its Limousine Butte Project (the ‘Project’, ‘Limo Butte’) in Nevada. The discovery of the ‘Armory Fault’ is a key, transformational development in defining the high-grade structural controls of mineralization at the evolving Bullet Zone. All drillholes at the Bullet Zone from the 2H-2025 drill program intercepted substantial oxide gold-antimony mineralization, significantly expanding the mineralization footprint at the Project. The Company continues to focus on dual track project development by advancing the near-term antimony production scenario from the historical gold leach pads at surface, while it drills the Project to define an initial gold-antimony Mineral Resource Estimate (‘MRE’).
Key Highlights
‘Armory Fault’ discovery identifies key structural control of high-grade mineralization at the Bullet Zone with oxide gold-antimony of 8.51 g/t AuEq* over 10.6 meters (8.11 g/t Au and 0.10% Sb), within 2.32 g/t AuEq* over 86.8 meters (1.94 g/t Au and 0.10% Sb):
LB25-017 Lower Zone (step-out, new ‘Armory Fault’ discovery): 12.34 g/t AuEq* over 3.0 meters (11.95 g/t Au and 0.10% Sb) within 8.51 g/t AuEq* over 10.6 meters (8.11 g/t Au and 0.10% Sb), within 2.32 g/t AuEq* over 86.8 meters (1.94 g/t Au and 0.10% Sb); due to drilling conditions, the hole terminated in 8.25 g/t oxide Au, with the highest interval up to 12.80 g/t oxide Au
LB25-017 Upper Zone (step-out, expansion of near-surface high-grade oxide antimony-gold): 5.46 g/t AuEq* over 3.1 meters (0.82% Sb and 2.27 g/t Au) within 3.14 g/t AuEq* over 9.2 meters (0.48% Sb and 1.27 g/t Au) within 1.59 g/t AuEq* over 21.3 meters (0.25% Sb and 0.61 g/t Au) starting at 4.6 meters; high-grade antimony is concentrated along the low-angle thrust fault under the ‘upper plate dolomite’ (Figure 2)
LB25-016 (step-out, adds over 50 meters north of mineralization footprint): 1.25 g/t AuEq* over 10.7 meters (0.63 g/t Au and 0.16% Sb), within 0.66 g/t AuEq* over 30.5 meters (0.31 g/t Au and 0.09% Sb)
*Gold equivalents (‘AuEq’) are based on assumed metals prices of US$3,000/oz of gold and US$40,000 per tonne of antimony, and assumed metals recoveries of 80% for gold and 75% for antimony.
‘Armory Fault’ is transformational to the Project as it identifies important structural controls of high-grade oxide gold-antimony mineralization (Figure 1):
30 holes completed in the current 2025-2026 drill program with 12 holes pending release
Antimony is one of the highest priority Critical Minerals due to its strategic importance and military applications; Limo Butte is a brownfield mine site located in the State of Nevada with near-surface, high-grade antimony mineralization
Limo Butte Planned 2025-2026 Activities / Status Update NevGold will continue its active exploration program at Limo Butte including:
Evaluating the historical geological database with focus on gold and antimony (completed);
Continuing to drill test gold-antimony targets (30 drillholes completed, 2026 drill program will continue to test new high-grade Bullet Zone and Armory Fault discoveries, and identified project-wide targets);
Advancing the Crushed and Run of Mine (‘ROM’) leach pads toward near-term antimony production (Phase I sampling completed, Company has engaged sonic drill contractor to drill leach pads, metallurgical testwork is continuing);
Completing initial gold-antimony Mineral Resource Estimate (MRE) (in progress).
NevGold CEO, Brandon Bonifacio, comments: ‘The discovery of the Armory Fault at the Bullet Zone is transformational from an exploration standpoint, as it identifies what is thought to be a key structural control of high-grade oxide gold-antimony mineralization. This fault was never modelled previously, and our technical team has done a tremendous job developing this target. Our geological model testing the ‘under the upper dolomite’ target concept has been validated as we have intercepted significant gold-antimony mineralization in every single drillhole at the Bullet Zone. The mineralization footprint andupside that we have added to the future potential gold-antimony Mineral Resource Estimate (MRE) is significant, and we will start our 2026 drill program as rapidly as possible to further test this evolving, high-grade target area. We also strongly believe that this target model can be replicated project-wide, and we have many high-priority targets that are now emerging with this key transformational step-change in the project geological model. We continue to execute on all of our various work programs at Limo Butte, and the Project is one of the highest grade gold-antimony projects in the United States.‘
Figure 1 – Resurrection Ridge target area with the Bullet Zone discovery and newly defined high-grade Armory Fault. Figure also includes completed NevGold 2025 drilling and identified expansion areas with the thrust faulted Upper Plate Dolomite. Red outline is the previous mineralization footprint at Resurrection Ridge, and the green outline is the key expansion area for 2026 drilling. To view image please click here
Figure 2 – Long section with results from 2025 drilling and the Bullet Zone and Armory Fault discoveries. Light blue bar graphs (left) show Antimony (Sb ppm) in drilling, and yellow to red discs (right) show Gold (Au ppm) in drilling. Transparent drillholes are from prior to 2025, with many holes not analyzed for antimony. Mineralization remains open in all directions at the Bullet Zone discovery. To view image please click here
Figure 3 – Long section with results from 2025 drilling and new high-grade Armory Fault discovery. Light blue bar graphs (left) show Antimony (Sb ppm) in drilling, and yellow to red discs (right) show Gold (Au ppm) in drilling. Updated geologic model shows faults with high magnitude of offset between vertical holes, which are high priority targets for 2026 drilling. All holes drilled into this area intercepted significant oxide gold-antimony mineralization adding significant growth to the mineralized footprint at the Project. Mineralization trends to surface. To view image please click here
2025-2026 Drill Results
Hole ID
Length, m*
g/t Au
% Sb
g/t AuEq**
From, m
To, m
Resurrection Ridge & ‘Bullet Zone’ Discovery
LB25-017 Upper
21.3
0.61
0.25%
1.59
4.6
25.9
including
9.2
1.27
0.48%
3.14
13.7
22.9
also including
3.1
2.27
0.82%
5.46
15.2
18.3
LB25-017 Lower***
86.8
1.94
0.10%
2.32
187.5
274.3
including
10.6
8.11
0.10%
8.51
263.7
274.3
also including
3.0
11.95
0.10%
12.34
263.7
266.7
LB25-016
141.7
0.11
0.03%
0.23
0.0
141.7
including
30.5
0.31
0.09%
0.66
0.0
30.5
including
10.7
0.63
0.16%
1.25
0.0
10.7
*Downhole thickness reported; true width varies depending on drill hole dip and is approximately 70% to 90% of downhole thickness. **The gold equivalents (‘AuEq’) are based on assumed metals prices of US$3,000/oz of gold and US$40,000 per tonne of antimony, and assumed metals recoveries of 80% for gold and 75% for antimony. ***Several intervals had low recovery due to drilling conditions.
Drillhole Orientation Details
Hole ID
Target Zone
Easting
Northing
Elevation (m)
Length (m)
Azimuth
Dip
LB25-016
Bullet Zone (RR)
667291
4417567
2174
174
90
-75
LB25-017
Bullet Zone (RR)
667121
4417247
2177
275
130
-60
Limo Butte – Updated Geological Model Summary and Discovery of Bullet Zone The Devonian Pilot Shale (‘Pilot Shale’, ‘Pilot’) is the principal local host to Carlin-type mineralization at Limousine Butte. At Limousine Butte, positive gold grades commonly coincide with silicification and jasperoid breccias within the Pilot Shale, and this alteration style is also host to elevated antimony.
NevGold’s 2021–2025 work included integrating historical drilling, new mapping, and surface sampling which produced an updated district model and refined property-wide controls on mineralization. At Resurrection Ridge, Devonian–Silurian dolomite is exposed immediately east of known gold-antimony mineralization. Earlier explorers inferred that the overlying Pilot Shale had been eroded in this area, and they did not test eastward, despite shallow high-grade intercepts in the easternmost holes drilled at Resurrection Ridge. The new model indicates the older dolomite was thrust overthe prospective Pilot Shale unit (see Figure 4), creating structural preparation and a fluid trap that preserves the favorable host at depth, the classic architecture for a Carlin-type system.
The holes drilled by the Company in 2025 with assays received have continued to validate the new NevGold geological model. Holes collared in dolomite, passed through the upper thrust plate, and intersected gold and antimony at multiple horizons within the underlying Pilot Shale validating the new geological model and materially expanding the potential mineralization footprint at the Project.
The preserved Pilot Shale extends more than one kilometer east of prior drilling at Resurrection Ridge (see Figure 5).
Figure 4 – Comparison of historical geological model (left) and new NevGold geological model (right) outlining the thesis that the older dolomite unit was thrust over the prospective Pilot Shale unit. The preserved Pilot Shale unit extends more than 1 kilometer east of prior drilling at Resurrection Ridge. To view image please click here
Property-wide, the updated model outlines multiple Au–Sb target corridors that track outcrops and projected subsurface positions of the Pilot Shale, where repeated faulting and thrusting provided fluid pathways and focused mineralization. NevGold’s 2025-2026 drill program continues to test these high-priority targets.
Figure 5 – Large cross section at the Project outlining the strong expansion potential between Resurrection Ridge and Crashed Airplane Valley, which spans +2.5 kilometers. To view image please click here
Historical records within the project boundary document two small-scale antimony prospects—the Nevada Antimony Mine and the Lage Antimony Prospect (Figure 1). The Nevada Antimony Mine extracted stibnite (Sb₂S₃) from a hydrothermal breccia via shallow pits; the Lage prospect similarly reports limited antimony production. Complementing these records, rock-chip sampling from the Golden Butte pit (Brigham Young University thesis) returned numerous assays exceeding 1% Sb in jasperoid breccias, with several over 5% Sb, including a sample grading 9.6% Sb with visible stibnite and stibiconite (BYU Thesis Report ).
Together, these datasets support a district-scale interpretation in which thrust repetition preserves the Pilot Shale at depth east of Resurrection Ridge and focuses Au–Sb mineralization along structurally prepared horizons, establishing multiple high-priority targets for step-out drilling and follow-up work.
Importance of Antimony Antimony is considered a ‘Critical Mineral’ by the United States based on the U.S. Geological Survey’s 2022 list (U.S.G.S. (2022)). ‘Critical Minerals’ are metals and non-metals essential to the economy and national security. Antimony is utilized in all manners of military applications, including the manufacturing of armor piercing bullets, night vision goggles, infrared sensors, precision optics, laser sighting, explosive formulations, hardened lead for bullets and shrapnel, ammunition primers, tracer ammunition, nuclear weapons and production, tritium production, flares, military clothing, and communication equipment. Other uses include technology (semi-conductors, circuit boards, electric switches, fluorescent lighting, high quality clear glass and lithium-ion batteries) and clean-energy storage.
Globally, approximately 90% of the world’s current antimony supply is produced by China, Russia, and Tajikistan. Beginning on September 15, 2024, China, which is responsible for nearly half of all global mined antimony output and dominates global refinement and processing, announced that it will restrict antimony exports. In December-2024, China explicitly restricted antimony exports to the United States citing its dual military and civilian uses, which further exacerbated global supply chain concerns. (Lv, A. and Munroe, T. (2024)) The U.S. Department of Defense (‘DOD’) has designated antimony as a ‘Critical Mineral’ due to its importance in national security, and governments are now prioritizing domestic production to mitigate supply chain disruptions. Projects exploring antimony sources in North America play a key role in addressing these challenges.
Perpetua Resources Corp. (‘Perpetua’, NASDAQ:PPTA, TSX:PPTA) has the most advanced domestic gold-antimony project in the United States. Perpetua’s project, known as Stibnite, is located in Idaho approximately 130 km northeast of NevGold’s Nutmeg Mountain and Zeus projects. Positive advancements at Stibnite including technical development and permitting has led to US$75 million in Department of Defense (‘DOD’) awards, over $1.8 billion in indicative financing from the Export Import Bank of the United States (‘US EXIM’) (see Perpetua Resources News Release from April 8, 2024) (Perpetua Resources. (2025)), and recent strategic investments of US$180 million from Agnico-Eagle Mines Limited (‘Agnico’) and US$75 million from JPMorganChase’s $1.5 trillion Security and Resiliency Initiative. (see Perpetua Resources News Release from October 27, 2025)
Figure 6 – Limousine Butte Land Holdings and District Exploration Activity To view image please click here
ON BEHALF OF THE BOARD
‘Signed’
Brandon Bonifacio, President & CEO
For further information, please contact Brandon Bonifacio at bbonifacio@nev-gold.com, call 604-337-4997, or visit our website at www.nev-gold.com.
Sampling Methodology, Quality Control and Quality Assurance NevGold QA/QC protocols are followed on the Project and include insertion of duplicate, blank and standard samples in all drill holes. A 30g gold fire assay and multi-elemental analysis ICP-OES method was completed by ISO 17025 certified American Assay Labs, Reno.
The historic data collection chain of custody procedures and analytical results by previous operators appear adequate and were completed to industry standard practices. For the Newmont and US Gold data a 30g gold fire assay and multi-elemental analysis ICP-OES method MS-41 was completed by ISO 17025 certified ALS Chemex, Reno or Elko Nevada.
Geochemical ICP (5g) analysis for the Wilson, Christianson and Tingey report was completed by Geochemical Services Inc. and the XRF analyses (glass disk or pellets) by Brigham Young University.
Technical information contained in this news release has been reviewed and approved by Greg French, CPG, the Company’s Vice President, Exploration, who is NevGold’s Qualified Person (‘QP’) under National Instrument 43-101 and responsible for technical matters of this release.
About the Company NevGold is an exploration and development company targeting large-scale mineral systems in the proven districts of Nevada and Idaho. NevGold owns a 100% interest in the Limousine Butte and Cedar Wash gold projects in Nevada, and the Nutmeg Mountain gold project and Zeus copper project in Idaho.
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 that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as ‘plan’, ‘expect’, ‘project’, ‘intend’, ‘believe’, ‘anticipate’, ‘estimate’, ‘suggest’, ‘indicate’ and other similar words or statements that certain events or conditions ‘may’ or ‘will’ occur. Forward-looking statements include, but are not limited to, the proposed work programs at Limousine Butte, the exploration potential at Limousine Butte, and future potential project milestones such as the potential Mineral Resource Estimate (‘MRE’). Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such risks include, but are not limited to, general economic, market and business conditions, and the ability to obtain all necessary regulatory approvals. There is some risk that the forward-looking statements will not prove to be accurate, that the management’s assumptions may not be correct or that actual results may differ materially from such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
References
Blackmon, D. (2021) Antimony: The Most Important Mineral You Never Heard Of. Article Prepared by Forbes.
Kurtenbach, E. (2024) China Bans Exports to US of Gallium, Germanium, Antimony in response to Chip Sanctions. Article Prepared by AP News.
Lv, A. and Munroe, T. (2024) China Bans Export of Critical Minerals to US as Trade Tensions Escalate. Article Prepared by Reuters.
Lv, A. and Jackson, L. (2025) China’s Curbs on Exports of Strategic Minerals. Article Prepared by Reuters.
Perpetua Resources. (2025) Antimony Summary. Articles and Videos Prepared by Perpetua Resources.
Sangine, E. (2022) U.S. Geological Survey, Mineral Commodity Summaries, January 2023. Antimony Summary Report prepared by U.S.G.S
U.S.G.S. (2022) U.S. Geological Survey Releases 2022 List of Critical Minerals. Reported Prepared by U.S.G.S
Wilson, D.,J., Christiansen, E., H., and Tingey, D., G., 1994, Geology and Geochemistry of the Golden Butte Mine- A Small Carlin- Type Gold Deposit in Eastern Nevada: Brigham Young University Geology Studies, v.40, P.185-211. BYU V.40 P.185-211.
Blackrock Silver Corp. (TSXV: BRC,OTC:BKRRF) (OTCQX: BKRRF) (FSE: AHZ0) (‘Blackrock’ or the ‘Company’) is pleased to announce it has been named to the 2026 TSX Venture 50 list of top performing companies.
2026 TSX Venture 50
To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/676/284200_tsxv2026.jpg
Andrew Pollard, Blackrock’s President and CEO, commented: ‘2025 was a transformative year for Blackrock, and we are grateful to the TSX Venture Exchange for recognizing the shareholder value we have created. We enter 2026 with strong momentum, supported by a robust treasury, an updated Preliminary Economic Assessment on track for delivery this quarter, and key permitting initiatives advancing at our flagship Nevada project. With silver now designated as a strategic and critical mineral in the United States, Tonopah West stands out as one of the few high-grade, domestic mineral projects progressing towards development.‘
TSX Venture 50TM is an annual ranking of the top performing companies over the last year on the TSX Venture Exchange. The companies are ranked based on three equally weighted criteria of one-year share price appreciation, market capitalization increase, and Canadian consolidated trading value.
In 2025, the Company’s share price appreciated 273% and its market cap growth was 353%, positioning the Company as twenty-fifth overall on the 2026 TSX Venture 50 list.[1]
More details on the TSX Venture 50 can be found at: www.tsx.com/Venture50.
About Blackrock Silver Corp.
Blackrock Silver Corp. is an American-focused emerging primary silver developer systematically advancing the high-grade Tonopah West Project, situated in the historic ‘Queen of the Silver Camps’ in a jurisdiction consistently ranked as one of the top mining regions globally. The Company is backstopped by a veteran board and technical team with a proven track record of discovering, financing, and building major precious metal mines in Nevada and globally. Blackrock is committed to establishing a secure, high-margin, domestic supply of silver and gold.
Additional information on Blackrock Silver Corp. can be found on its website at www.blackrocksilver.com and by reviewing its profile on SEDAR+ at www.sedarplus.ca.
Cautionary Note Regarding Forward-Looking Statements and Information
This news release contains ‘forward-looking statements’ and ‘forward-looking information’ (collectively, ‘forward-looking statements‘) within the meaning of Canadian and United States securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements in this news release relate to, among other things: the advancement of the Tonopah West project towards development, including the acceleration of permitting and de-risking initiatives at the Tonopah West project through key permitting and pre-development initiatives; and the intention to complete an updated Preliminary Economic Assessment on the Tonopah West project in the first quarter of 2026.
These forward-looking statements reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include, among other things: conditions in general economic and financial markets; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services; future operating costs; the historical basis for current estimates of potential quantities and grades of target zones; the availability of skilled labour and no labour related disruptions at any of the Company’s operations; no unplanned delays or interruptions in scheduled activities; all necessary permits, licenses and regulatory approvals for operations are received in a timely manner; the ability to secure and maintain title and ownership to properties and the surface rights necessary for operations; and the Company’s ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.
The Company cautions the reader that forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data; general market, political, economic and industry conditions; and those factors identified under the caption ‘Risks Factors’ in the Company’s most recent Annual Information Form.
Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.
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.
For further information, please contact:
Andrew Pollard, President & Chief Executive Officer Blackrock Silver Corp. Phone: 604 817-6044 Email: andrew@blackrocksilver.com
Sean Thompson, Head of Investor Relations Blackrock Silver Corp. Email: sean@blackrocksilver.com
[1] As at December 31, 2025.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/284200
1911 Gold Corporation (TSXV: AUMB,OTC:AUMBF) (OTCQX: AUMBF) (FSE: 2KY) (‘1911 Gold’ or the ‘Company’) is pleased to announce that it has been recognized by TSX Venture Exchange (‘TSXV’) as a 2026 Top 50 Company. 1911 Gold achieved a share price appreciation of 468% and market cap growth of 1,026% in 2025, positioning the Company as fourth overall on the 2026 TSX Venture 50TM list.
‘We are honoured to be recognized as the #4 top performer on the 2026 TSX Venture 50 list,’ stated Shaun Heinrichs, President and CEO. ‘We have come a long way on our journey, and this award reflects the combined effort and commitment from our team as we move toward restarting gold production at our fully built and permitted True North Mine. With our recent Preliminary Economic Assessment confirming robust project economics, we remain on track to commence production in 2027 while simultaneously advancing exploration to de-risk and grow our district-scale assets for our shareholders.’
The 2026 TSX Venture 50 showcases the top 50 of over 1,600 TSXV issuers. Eligible listed issuers are ranked based on three equally weighted criteria of one-year share price appreciation, market capitalization increase, and Canadian consolidated trading value as of December 31, 2025.
More details can be found at the following link: tsx.com/venture50
About 1911 Gold Corporation
1911 Gold is an advanced gold explorer and developer focused on its 100%-owned True North Gold Project in the Archean Rice Lake Greenstone Belt in Manitoba, Canada. The Company controls a large, highly prospective ~62,000-hectare land package with numerous past-producing gold operations within trucking distance of the fully built and permitted True North mine and mill complex. 1911 Gold is positioning itself to restart operations in 2027 and offers a unique, near-term production story with significant exploration upside. The strategy is to build a district-scale gold mining operation around a centralized, and readily expandable infrastructure to support a socially and environmentally responsible, long-term mining operation with little development risk and a growing mineral resource base.
1911 Gold’s True North complex and the exploration land package are located within and among the First Nation communities of the Hollow Water First Nation and the Black River First Nation. 1911 Gold looks forward to maintaining open, cooperative, and respectful communications with all of our local communities and stakeholders to foster mutually beneficial working relationships.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as ‘plans’, ‘expects’ or ‘does not expect’, ‘is expected’, ‘budget’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’ or ‘does not anticipate’, or ‘believes’, or describes a ‘goal’, or variation of such words and phrases or state that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved.
All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.
Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, predictions, projections, forecasts, performance or achievements expressed or implied by the forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, statements about the planned re-start of mining operations at the True North Mine, and the timing thereof, are forward-looking statements. Although 1911 Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. 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, readers should not place undue reliance on forward-looking statements.
All forward-looking statements contained in this news release are given as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.
Neither 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.
SOURCE: 1911 Gold
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/284262
A senior U.S. official offered new details Tuesday night about an alleged nuclear bomb test conducted by China in June 2020.
Assistant Secretary of State Christopher Yeaw spoke at a Hudson Institute event in Washington, D.C. on Tuesday, and said evidence of the explosion came from a seismic station in Kazakhstan. The station detected a magnitude 2.75 explosion located at China’s Lop Nur test grounds on June 22, 2020.
‘I’ve looked at additional data since then. There is very little possibility I would say that it is anything but an explosion, a singular explosion,’ Yeaw said, adding that data was not consistent with mining detonations.
‘It’s also entirely not consistent with an earthquake,’ he added. ‘It is … what you would expect with a nuclear explosive test.’
China’s embassy in Washington has rejected the Trump administration’s claim, telling NBC News that the report is ‘political manipulation,’ and the U.S. is ‘evading its own nuclear disarmament responsibilities.’
‘China urges the U.S. to reaffirm the five nuclear-weapon states’ commitment on refraining from nuclear tests, uphold the global consensus against nuclear tests, and take concrete steps to safeguard the international nuclear disarmament and non-proliferation regime,’ spokesperson Liu Pengyu told the outlet.
U.S. officials warned that Beijing may be preparing tests in the ‘hundreds of tons’ range — a scale that underscores China’s accelerating nuclear modernization and complicates efforts to draw Beijing into arms control talks.
Thomas DiNanno, undersecretary of state for arms control and international security, said recently that the United States has evidence China conducted an explosive nuclear test at its Lop Nur site.
‘I can reveal that the U.S. government is aware that China has conducted nuclear explosive tests, including preparing for tests with designated yields in the hundreds of tons,’ DiNanno said during remarks at the United Nations Conference on Disarmament.
He added, ‘China conducted one such yield-producing nuclear test on June 22 of 2020.’
DiNanno also accused Beijing of using ‘decoupling’ — detonating devices in ways that dampen seismic signals — to ‘hide its activities from the world.’
China’s foreign ministry has denied the allegations, accusing Washington of politicizing nuclear issues and reiterating that Beijing maintains a voluntary moratorium on nuclear testing.
The accusation has sharpened questions about verification, deterrence and whether the U.S. stockpile stewardship program — which relies on advanced simulations rather than live detonations — remains sufficient in an era of renewed great-power nuclear competition.
Central planning — the idea that an economy can be rationally directed from the top down — has long appealed to reformers who seek to eliminate waste, inequality, and uncertainty. Its critics, however, have argued that no government can gather and process the vast, ever-changing information that markets generate spontaneously.
Among the most forceful opponents of central planning were two economists of the Austrian School: Ludwig von Mises and Friedrich A. Hayek. Though allies, they approached the problem from distinct, complementary angles. Mises argued that without private property and market prices, rational economic calculation is impossible. Hayek deepened the critique, showing that knowledge itself is dispersed and can only be coordinated through the market process.
This explainer examines their reasoning — where it overlaps, where it differs, and why the two scholars’ combined insights still matter in an age of big data and artificial intelligence.
The Rise and Appeal of Central Planning
The twentieth century saw governments attempt to replace broad market coordination with narrow, centralized direction. The idea gained traction amid the upheavals of the First World War and the Great Depression, when planned production seemed to promise stability and fairness. Lenin’s central planning administration Gosplan in the Soviet Union and later socialist models in Eastern Europe embodied the dream of a rationally ordered economy.
The same faith influenced Western intellectuals. If engineers could build bridges and factories, why couldn’t economists and bureaucrats design entire economies? To Mises and Hayek, this was a category error: the economy is not a machine, but a living network of human action and knowledge.
Mises and the Calculation Problem
In his 1920 essay “Economic Calculation in the Socialist Commonwealth,” Ludwig von Mises made a devastating claim: socialism is not merely inefficient — it is impossible.
Under socialism, the state owns all means of production. Because ownership is unified, there can be no buying and selling of capital goods, and therefore no market prices for them. Without prices, planners cannot determine whether resources are being used efficiently.
For example, should a new railway line run through the mountains or around them? The choice involves trade-offs — between labor, steel, and land — and only market prices can reveal them. In a socialist economy, there is no way to compare the economic cost of one option versus another. Without the guidance of market prices, planners “grope in the dark,” the Austrian economist wrote.
Mises’s point was not moral but logical: rational economic calculation requires private property, voluntary exchange, and monetary prices. Without them, the coordinating mechanism of the economy collapses.
Hayek and the Knowledge Problem
Two decades later, Friedrich Hayek expanded Mises’s critique. Writing in the 1930s and 1940s, Hayek argued that even if a central authority somehow possessed all available data and perfect computational power, it still could not plan effectively.
In his classic 1945 essay “The Use of Knowledge in Society,” Hayek explained that the crucial information needed to allocate resources efficiently is dispersed, tacit, and constantly changing. It exists not in databases but in the minds and experiences of millions of individuals — shopkeepers, consumers, engineers, and entrepreneurs — each responding to local conditions.
Prices, in Hayek’s view, are signals that communicate this information. When the price of tin rises, consumers cut back, producers seek substitutes, and entrepreneurs search for new supplies — all without knowing (nor needing to know) why the price changed. This decentralized process coordinates countless decisions that no planner could ever collect or comprehend.
Where Mises showed that calculation was impossible without prices, Hayek explained why only free markets can generate those prices meaningfully: they embody real-time knowledge that no central authority can aggregate.
The Socialist Response and the Debate That Followed
The Mises–Hayek critique ignited what became known as the Socialist Calculation Debate. Economists such as Oskar Lange and Abba Lerner responded that planning boards could simulate markets by setting prices, monitoring shortages and surpluses, and adjusting accordingly.
To Mises and Hayek, this response misunderstood the essence of markets. Market prices are not arbitrary numbers to be guessed at by bureaucrats; they are the outcome of entrepreneurial discovery — a competitive process that tests profit and loss, risk and innovation.
Lange’s “trial and error” planning was, in Hayek’s eyes, a static imitation of a dynamic reality. Real markets continuously generate and revise knowledge through competition. Bureaucratic simulation lacks the incentives, ownership, and feedback that make this possible.
Where Their Theories Differ
Although united in their opposition to central planning, Mises and Hayek approached the problem from distinct perspectives:
Dimension
Mises
Hayek
Core Problem
Economic calculation is impossible without market prices.
Relevant knowledge is dispersed and cannot be centralized.
Focus
The logical and institutional preconditions of rational choice.
The epistemological and communicative limits of centralized control.
Method
Deductive reasoning (praxeology).
Empirical and evolutionary reasoning about complex systems.
Emphasis
Property and prices as necessary for calculation.
Competition and communication as necessary for coordination.
Mises showed why central planning cannot compute rationally; Hayek showed why it cannot know what to compute in the first place. Their insights are not substitutes, but layers of the same diagnosis.
How Their Ideas Complement Each Other
Mises and Hayek’s views form a single, coherent understanding of market order.
Mises explains why the planner lacks a common ratio of exchange: without property rights and market prices, there is no basis beyond arbitrariness for allocative decisions.
Hayek explains why the planner lacks the information to generate those prices in the first place: they are under constant revision by market actors with narrow, special knowledge.
The two arguments converge on the same conclusion: coordination in a complex society must arise from voluntary, decentralized interaction — not central command. The market is not an arbitrary human invention but the only known system capable of processing vast, scattered, ever-changing information.
Real-World Evidence: Planning in Practice
The twentieth century tested these theories at tragic scales, and at unimaginable human cost. Socialist economies like the Soviet Union attempted to coordinate production through massive bureaucracies such as Gosplan. The results confirmed Mises and Hayek’s warnings:
Chronic shortages of consumer goods
Surpluses of useless output (too many size-12 shoes, pants no one wanted)
Distorted incentives to meet quotas rather than serve needs
Falsified data to satisfy political superiors.
Each plan cycle created new misallocations, because planners could not adapt fast enough to shifting realities. As Hayek might have predicted, information traveled too slowly and too dishonestly in a system where truth was punished and incentives were skewed by politics.
China’s gradual reforms after 1978 — reintroducing private enterprise and market pricing to a tightly controlled state economy — marked an implicit concession: to make socialism “work,” planners had to scale back central planning.
The Soviet Collapse: A Tale of Two Explanations
When the Soviet Union dissolved in 1991, it was not only a political implosion but also an economic one — the largest centrally planned system in history collapsing under the weight of its own contradictions. For both Ludwig von Mises and Friedrich Hayek, the Soviet collapse would have appeared less as a surprise than as the inevitable outcome of systemic design flaws they had warned about decades earlier. Yet each would have interpreted the downfall in a subtly different way.
To Mises, the Soviet failure confirmed the calculation problem. Without private property and genuine market exchange, the administrators at Gosplan had no way to measure economic efficiency. The prices they used were arbitrary, disconnected from real scarcities or consumer wants. Their statistics could record physical quantities — tons of steel, miles of rail, bushels of wheat — but not value. Over time, the entire system became an elaborate façade: apparent order concealing mounting disorder. Factories met quotas by producing useless goods, local managers falsified reports, and the central plans themselves became exercises in make-believe and misinformation. For Mises, this was not accidental mismanagement. It was the unavoidable result of an economy that had abolished the very instrument of rational calculation — the price system.
To Hayek, the same collapse demonstrated the knowledge problem. Even if Soviet planners had access to accurate data, the knowledge required to allocate resources efficiently never existed in any central repository. It resided in the dispersed minds of millions of individuals — consumers, workers, and entrepreneurs — whose preferences and innovations could never be fully communicated through bureaucratic channels. The Soviet system’s rigidity was thus a cognitive failure: it could not adapt to change, learn from errors, or evolve through decentralized experimentation. The plan could issue orders, but it could not generate discovery. Hayek might have said that the Soviet economy did not so much break down as fail to learn.
In this sense, Mises and Hayek offered complementary autopsies of the same tragedy. Mises explained why rational allocation was impossible without prices; Hayek explained why no planner could ever know enough to set those prices meaningfully. The first diagnosis is institutional — a system without markets cannot calculate. The second is epistemological — even with data, central authority cannot know. The failure of Soviet socialism thus confirmed both men’s warnings: a planned economy can suppress error only by suppressing truth.
Lessons for the Digital Age
In the twenty-first century, some argue that big data, artificial intelligence, and high-speed computation have revived the dream of central planning. After all, if machines can process trillions of data points, why can’t they optimize production and distribution better than messy markets?
This view repeats the same fallacy that Mises and Hayek identified. The knowledge required for coordination is not static data but living information: changing preferences, unforeseen innovations, and subjective judgments of value. Machines can crunch numbers, but they cannot determine what those numbers mean in human terms.
Moreover, without property rights, competition, and entrepreneurial experimentation, there is no mechanism to reveal or validate the information that planners would feed into their algorithms. “Smart” central planning is still central planning, and still doomed — only with faster calculators.
Broader Philosophical Implications
Beneath their economics lay a shared defense of human freedom and humility.
For Mises, the market system reflects the logic of human action: individuals using scarce means to achieve chosen ends. Coercive planning replaces choice with obedience.
For Hayek, markets represent a spontaneous order: a social evolution shaped by countless interactions, not by deliberate design. Planning reflects what he called the “fatal conceit” — the illusion that reason can master the complexity of civilization.
Both saw freedom not merely as a right but as a practical necessity. Only through liberty can society continually learn, correct errors, and adapt to change.
Common Criticisms of Mises and Hayek
“They opposed all government.” Both men recognized legitimate state functions — enforcing contracts, protecting property, and maintaining the rule of law. Their critique targeted economic control, not the legal framework of a free society.
“Computers can solve the problems they described.” Computation cannot replace judgment. Prices emerge from voluntary exchange, not mathematical optimization. No computer can reproduce the creative discovery process of entrepreneurs in real time.
“They ignored inequality or social justice.” Both understood that outcomes in free markets are unequal, but they argued that coercive equalization destroys the process that generates wealth. For Hayek, justice lies in fair rules, not guaranteed results.
“Their ideas are outdated.” On the contrary, their insights explain modern failures of technocratic overreach — from failed industrial policies to rigid pandemic controls — all rooted in the same hubris that knowledge can be centrally mastered.
The Enduring Legacy
Mises and Hayek’s arguments reshaped modern economics, influencing fields from information theory to institutional design. Their insights inspired later thinkers — such as Israel Kirzner’s work on entrepreneurship and Elinor Ostrom’s studies of decentralized governance — that continue to illuminate how cooperation emerges without command.
The core message is timeless: the complexity of human society cannot be engineered from above. Markets, far from being chaotic, are the most sophisticated information system ever developed. They allow billions of people, all of whom hold dispersed and limited and sometimes highly specialized knowledge, to achieve coordinated prosperity through voluntary exchange.
Market Prices Are the Only Viable Coordinator
Central planning promises order but delivers confusion. Its failure is not a moral accident or a temporary flaw but a structural impossibility.
Mises showed that without market prices, planners cannot perform rational calculation. Hayek showed that without dispersed knowledge, they cannot know what to calculate.
Together, they demonstrated that freedom is not only ethically superior but economically indispensable. The market, for all its imperfections, remains the only mechanism capable of processing humanity’s infinite complexity.
Their warning endures today. Economic prosperity, and indeed civilization itself, depend less on what we can design than on what we can discover. And that discovery happens best via market prices as opposed to authoritarian directorates.
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