Critical Mineral Company Locksley Resources Limited Advances Towards U.S. Antimony Production

Investorideas.com (www.investorideas.com) a go-to platform for big investing ideas for traders, including mining and defense stocks, reports on the rollercoaster ride for Antimony and related stocks as the US and China battle it out, featuring Locksley Resources Ltd. (ASX: LKY,OTC:LKYRF) (OTCQX: LKYRF) (FSE: X5L), a company that specializes in critical minerals development within the United States. The Company is actively advancing the Mojave Project in California, targeting rare earth elements (REEs) and antimony.

Critical Mineral Company Locksley Resources Limited Advances Towards U.S. Antimony Production

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Antimony’s critical role in defense has it in high demand globally as geopolitical unrest narratives shift and unfold. Antimony has been on a rollercoaster ride with the narratives and the trade deals being announced (and altered) just as quickly, but the long term demand remains unchanged.

According to StraitsResearch.com, ‘The global antimony market size was valued at USD 2.5 billion in 2024 and is projected to grow from USD 2.62 billion in 2025 to USD 4.83 billion by 2033.’

A major trade deal was announced November 1^st between the US and China that impacted antimony stocks as Reuters reported, ‘China agreed to a one-year pause on export controls it unveiled this month on rare earth minerals and magnets, which have vital roles in cars, planes and weapons and have become Beijing’s most potent source of leverage in its trade war with Washington. Those controls would have required export licenses for products with even trace amounts of a larger list of elements and were aimed at preventing their use in military products.

The White House said China will also issue general licenses for exports of rare earths, gallium, germanium, antimony and graphite for the benefit of U.S. end users and their suppliers. The White House said that amounted to ‘the de facto removal of controls China imposed in April 2025 and October 2022.’

Days later the game changed. According to Globaltimes, ‘Chinese Ministry of Commerce (MOFCOM) has issued new rules governing the state-traded exports of tungsten, antimony and silver exports for 2026-27 with the aim to step up the protection of resources and the environment, according to a statement published on the MOFCOM’s website.’

‘The document was proposed by the Department of Foreign Trade of MOFCOM, based on the regulations outlined by the Foreign Trade Law of and the Regulations on the Administration of Import and Export of Goods. It aims to protect resources and the environment and enhance the export management of rare metals, said the MOFCOM.’

Betting big on the future of antimony, Locksley Resources Ltd. (ASX: LKY,OTC:LKYRF) (OTCQX: LKYRF) (FSE: X5L) just announced advancements with its US Mine-to-Market strategy. The Company has delivered numerous key technical milestones including LiDAR based underground modelling, metallurgical processing updates, a Bulk Sample, underground workings assessment and maiden Exploration Target (JORC 2012). These milestones have provided Locksley with the confidence to fast track the redevelopment plans and initiate extraction studies of mineralisation at the Desert Antimony Mine (DAM) Prospect.

From Target Validation to Extraction
The Company has advanced planning for a targeted, integrated work plan designed to fast-track extraction of mineralisation for Locksley’s Phase 1 pilot processing facility, planned for 2026. These results have collectively provided the Company sufficient confidence to progress plans towards re-development of the historical mine. With enhanced knowledge of the geology, metallurgy, and underground access now in place and continually developing, Locksley has commenced early-stage small scale production planning.

Geological Targeting at DAM
Underground LiDAR surveying has mapped ¬236m of historical workings confirming Sb vein continuity, supported by 3D geological modelling, structural mapping, and sampling sequencing that have enabled the Company to establish an Exploration Target (JORC 2012) at DAM containing between 19,400 to 67,700 tonnes of antimony metal (see basis for the exploration target below). This provides a framework to establish a conceptual development plan to provide feed for a pilot plant which is envisaged in 2026. This initial work provides a basis for the scale of operation which would be required and allows conceptual planning and design to be undertaken.

Metallurgy (Bulk Sample)
The recently completed 325 kg bulk sampling has delivered a head grade averaging 7.6% to 7.8% Sb. Flotation has commenced using the same parameters determined in the initial sighter testwork campaign which successfully demonstrated the ability to produce a premium antimony concentrate grading 68.1% Sb (see ASX Announcement 22 September 2025). This metallurgical success provides the foundation for the MoU signed with Hazen and validates the Company’s processing pathway, significantly establishing the technical pathway for the downstream supply chain. The results have established the potential and quality of concentrates that can be produced from the mineralisation encountered at DAM, which is another key step towards a potentially viable production operation.

Underground Assessment
With an increasing and developing understanding in the geology and metallurgy, Locksley liaised with a specialist U.S. based underground development consultant to provide an opinion of the historical DAM workings. The assessment indicates the structural stability and accessibility of the workings, providing a potential plan for future re-entry and development of the mineralisation exposed in the underground faces (Figure 1).

Downstream Capability (Processing & Refining)
The restart pathway complements Locksley’s downstream strategy, including its collaboration with Rice University to develop advanced antimony extraction technology using DeepSolvTM. Together with the MoU signed with Hazen Research for U.S. based processing capability, Locksley is building a fully integrated mine-to-market platform aligned with American industrial, defence, and energy sectors.

The advancement of the Desert Antimony Mine Prospect comes at a pivotal time for the United States, with antimony confirmed as a priority under federal supply chain resilience frameworks. Locksley’s progress directly supports US objectives to rebuild domestic sources of defence-essential materials.

Kerrie Matthews, Managing Director CEO, commented:
‘This is a pivotal moment for Locksley, marking the rapid advancement towards the Company becoming a Developer, with an end-to-end supply chain strategy from Mine-to-Metal. All technical steps, from establishing the exploration target, to achieving the 68.1% concentrate grade and to evaluating the underground workings aligns with this strategy.

‘The successful execution of these three integrated phases has significantly advanced the Company towards mitigating the key uncertainties associated with planning for recommencing operations. We are focused on further enhancing our understanding of DAM and working in parallel with US government on permitting, finance, and ultimately physically delivering antimony product into the US market.’

Full news:
https://investors.locksleyresources.com.au/announcement-detail/Locksley-Advances%20Toward%20U-S-%20Antimony%20Production-NzQ2NQ==?

Perpetua Resources (NASDAQ: PPTA), another US based antimony stock, is focused on the exploration, site restoration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho. The Company just announced a $71 Million offering betting that antimony is the right play long term. The gross proceeds to Perpetua Resources from the Offering, before deducting commissions and expenses and other Offering expenses, will be approximately $71.2 million, and will be approximately $78.2 million if Agnico exercises its participation right in full in the Concurrent Private Placement.

From the news:
The Company expects to use the net proceeds of the Offering and the Concurrent Private Placement to fund the construction and development of the Stibnite Gold Project, working capital costs in excess of the Project capital costs, continuing exploration and development activities, restoration and reclamation work, and for general corporate purposes.

Well known antimony stock, United States Antimony Corporation (NYSE American: UAMY) (NYSE Texas: UAMY) reported its third quarter and nine months ended September 30, 2025 financial and operational results. Antimony sales were up significantly.

From the news:
Revenues for the first nine months of 2025 increased to $26.23 million, or a 182% increase of $16.92 million, compared to $9.31 million for the first nine months of 2024. During the same period, cost of revenues increased 170% or $11.96 million. This in-turn allowed the Company’s gross profit to more than triple with an increase of 219%, or $4.96 million to $7.22 million as compared to $2.26 million during the same nine-month period in 2024. Gross margin increased to 28% during the first nine months of 2025 from a 24% margin experienced during the same nine months of last year. This 4% increase in gross margin is before processing any of USAC’s in-house antimony recently mined in Montana. Operating expenses were $11.76 million for the first nine months of 2025, which is an increase of $8.19 million compared to the same period in the prior year.

Our antimony sales were $23.57 million for the first nine months of 2025, which is up $16.5 million, or 235%, over last year. This improvement was primarily due to an increase in the average sales price per pound over the two nine-month reporting periods, not increased volumes.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274307

Homerun Resources Inc.  (TSXV: HMR,OTC:HMRFF) (OTCQB: HMRFF) (‘Homerun’ or the ‘Company’) is pleased to announce that the Company has engaged DTEC PMP GmbH (‘DTEC’) to deliver a Bankable Feasibility Study (BFS) for Homerun’s antimony-free solar glass manufacturing project. The study will leverage the Company’s high-purity, low-iron silica resource from Santa Maria Eterna, Belmonte, Bahia, Brazil.

This partnership marks a significant step forward in Homerun’s vertical integration strategy, progressing the project from engineering concept to bankable reality. The BFS will provide a complete technical and economic evaluation in accordance with international banking and financing standards, encompassing the project’s design, capital and operating costs, market analysis, and ESG framework.

The Bankable Feasibility Study is expected to be completed within Q1 2026, on schedule with Homerun’s development timeline for advancing its solar glass manufacturing initiative. Upon completion, the BFS will serve as a cornerstone for securing project financing and initiating detailed design and construction activities.

Brian Leeners, CEO of Homerun Resources, commented: ‘Engaging DTEC represents a powerful milestone in the advancement of our solar glass strategy. With this Bankable Feasibility Study, we are moving decisively toward making Brazil home to Latin America’s first dedicated high-efficiency solar glass manufacturing facility. The projected Q1 2026 completion keeps us directly aligned with our timeline for commercialization, and we believe the results will validate the exceptional economics and ESG benefits of our vertically integrated model.’

The BFS will include the following chapters:

• Executive Summary
• Project Description
• Market Studies
• Technology and Engineering
• Implementation Plan
• Cost Analysis (CAPEX and OPEX)
• Financial Modeling
• Risks and Mitigations
• ESG Aspects
• Conclusion and Recommendations

About DTEC PMP GmbH (www.dtecpmp.de)

DTEC PMP GmbH is a privately owned service provider specializing in engineering, project, and site management, located in Gelsenkirchen, Germany. With more than 20 years of experience in the glass industry, as well as in steel processing and power plants, DTEC supports major clients worldwide in their projects. From feasibility studies to conceptual and basic engineering at the outset of a project, DTEC is a reliable and trustworthy partner throughout all phases, from project initiation to plant commissioning and handover. DTEC is proud to support Homerun in Brazil on the country’s outstanding solar glass project.

About Homerun

Homerun is building the silica-powered backbone of the energy transition across four focused verticals: Silica, Solar, Energy Storage, and Energy Solutions. Anchored by a unique high-purity low-iron silica resource in Bahia, Brazil, Homerun transforms raw silica into essential products and technologies that accelerate clean power adoption and deliver durable shareholder value.

• ⁠Silica: Secure supply and processing of high-purity low-iron silica for mission-critical applications, enabling premium solar glass and advanced energy materials.

• Solar: Development of Latin America’s first dedicated 1,000 tonne per day high-efficiency solar glass plant and the commercialization of antimony-free solar glass designed for next-generation photovoltaic performance.

• Energy Storage: Advancement of long-duration, silica-based thermal storage systems and related technologies to decarbonize industrial heat and unlock grid flexibility.

• ⁠Energy Solutions: AI-enabled energy management, control systems, and turnkey electrification solutions that reduce costs and optimize renewable generation for commercial and industrial customers.

With disciplined execution, strategic partnerships, and an unwavering commitment to best-in-class ESG practices, Homerun is focused on converting milestones into markets-creating a scalable, vertically integrated platform for clean energy manufacturing in the Americas.

FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274327

Initial Trenching Returns up to 4.0 m at 3.10 g/t Au and 4.0 m at 2.68 g/t Au within Strong Geochemical Anomalies

• First-pass exploration confirms four robust gold-in-soil anomalies across the 301.8 km² Kotobi Project, including values exceeding 1,400 ppb Au
• Trenching at the Kotobi 1 target intersects up to 4.0 m at 3.10 g/t Au , confirming a bedrock source to strong surface anomalies and supporting follow-up trenching and drilling
• Aggressive mechanised trenching and follow-up drilling planned for early 2026

Kobo Resources Inc. (‘ Kobo’ or the ‘ Company’ ) ( TSX.V: KRI ) is pleased to report the results of its first phase grassroots exploration program on its 100% owned Kotobi Licence (the ‘ Kotobi Project ‘) covering a 301.8 km ² area. The Kotobi Project is situated 20 km east of Bongouanou in central eastern Cote d’Ivoire and is underlain by folded Birimian-aged volcano-sediment and meta-sediment units. Main structures are oriented ENE-WSE to ESE-WNW.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251113794597/en/

Figure 1: Current Soil Geochemical Sampling Coverage with Geophysical Interpretation Kotobi Project

The Company considers this area to be highly prospective for gold mineralisation and originally selected the Kotobi Project area based on the extensive alluvial artisanal gold diggings in the main drainage channels in northern parts of the permit.

Edward Gosselin, CEO and Director of Kobo commented: ‘ Our first phase of work at Kotobi has established a clear foundation for a new exploration pipeline within our Côte d’Ivoire portfolio. I am very encouraged by these results, which outline four well-defined geochemical anomalies with gold-in-soil concentrations exceeding 500 ppb Au along significant strike lengths. Our systematic exploration approach is successfully outlining multiple areas with significant potential on the property.’

He continued: ‘The compelling gold mineralisation intersected in the initial trenches at the Kotobi 1 Target suggest that the current soil geochemical anomalies have a bedrock source containing economic gold grades. We will be starting an aggressive mechanised trenching program to better understand the geological controls to gold mineralisation at surface before starting drilling which is expected to begin in early 2026.’

Soil Geochemistry and Initial Trench Results

Four highly anomalous gold targets have been outlined from the soil geochemistry completed to-date (referred to as Kotobi 1, Kotobi 2, Kotobi 3, and Kotobi 4 ). The locations of the individual targets are shown in Figure 1.

Soil sampling on a 25 metre (‘ m ‘) by 25 m grid at the Kotobi 1 target has defined a 700-m long NNW trending anomaly located approximately 150 m west of the interpreted contact between metasediments and a granodiorite intrusion (Figure 2). The peak gold in soil concentrations reach 1,420 ppb Au .

Three trenches (KTR014, KTR015 and KTR016) manually excavated along a 350-m strike intersected gold mineralisation in KTR014 and KTR016. Trench KTR014 intersected 4.0 m at 2.68 g/t Au with a 1-m wide sub-vertical quartz vein assaying 9.64 g/t Au . Trench KTR016 returned a broad low-grade zone of 18.0 m at 0.88 g/t* Au including 4.0 m at 3.10 g/t Au and 1.0 m at 10.20 g/t Au (Figure 2 & Table 1).

Table 1: Trench Intersections at the Kotobi 1 Target

Kotobi 2 & 3 Targets

The Kotobi 2 Target is situated 2 km south-east of Agoua Village with peak gold in soil concentrations of 430 ppb Au contained within a 400 m ² area (Figure 4). Kotobi 3 Target is situated 3 km east of the Brou Akpaoussou Village with peak gold in soil concentrations of 610 ppb Au. There are anomalous gold values scattered across a 1,400 m strike that require more detailed infill sampling.

The distance between the Kotobi 2 and Kotobi 3 Targets is approximately 6.3 km and the two targets may be controlled by the same apparent NE trending structure (Figure 3). There are anomalous soil values in between the two areas which will be the focus of more detailed infill sampling.

The Kotobi 4 Target is located 2.4 km west of Assouakro Village in northern parts of the Kotobi Project licence. It is situated in an area where there is significant artisanal alluvial gold mining activity. The anomaly is strong, robust and well developed. The anomaly extends along an 800-m strike and is up to 150-m wide. Peak gold in soil concentrations reach 780 ppb Au (Figure 4).

Kotobi Project Background

The Kotobi Project is situated within the Birimian Dimbokro-Abengourou Belt of the Boaulé-Mossi Domain within the West African Craton. The geology comprises folded Birimian-aged volcano-sediment and meta-sediments. Lithologies on the Kotobi Project licence are predominantly meta-sandstones and siltstones with several small intrusions emplaced along the principal faults. The main structures are oriented ENE-WSE to ESE-WNW (Figure 5).

The Company considers the area to be highly prospective for gold mineralisation. It originally selected the Kotobi Project area based on the extensive alluvial artisanal gold diggings in the main drainage channels in northern parts of the permit.

A drone UAV magnetic survey was completed across the licence in 2023 by MWH Geosurveys International Inc. The geophysical data was reprocessed and interpreted by Paterson, Grant & Watson (PGW – Toronto) in 2023. PGW selected two main targets to focus initial exploration. The gold mineralisation intersected in trenches detailed in this press release are located within PGW’s top priority target area.

Since commencing exploration, the Company has assayed 7,356 soil samples, 46 termite mound samples, 95 samples from 9 shallow pits, 79 rock chip samples and 385 channel samples in 13 surface exposures and in 3 manually dug trenches across one of the initial soil anomalies.

There have been several phases of soil sampling on the property. The southern parts of the Kotobi Project has been sampled on a 400 m by 50 m grid. More recently sampling has occurred in northern parts of the property on an 800 m by 50 m grid with infill sampling on 100 m by 5 0m grids, and in some areas down to 25 m by 25 m grids to better define the soil anomalies. The extent of soil sampling completed on the Kotobi Project licence to date is shown in Figure 2.

Sampling, QA/QC, and Analytical Procedures

Soil samples are collected along grid lines by Kobo crews. Based on soil profile a typical sample is collected by hand at depths of 30 – 50 cm and is typically 2 kilograms in weight. QAQC procedures for the soil samples include insertion a blank, standard and duplicate every 50 samples for control. Trench rock chip samples are collected approximately 30 to 50 cm above the base of the trench using hammers and plastic bags. QAQC procedures for trench samples include the insertion of 1 blank, 1 standard and 1 duplicate for each sample shipment. Samples are transported to the SGS Côte d’Ivoire facility in Yamoussoukro by Kobo personnel where the entire sample was prepared for analysis (prep code PRP86/PRP94). Sample splits of 50 grams were then analysed for gold using 50g Fire Assay as per SGS Geochem Method FAA505. All QAQC control samples returned values within acceptable limits.

Review of Technical Information

The scientific and technical information in this press release has been reviewed and approved by Paul Sarjeant, P.Geo., who is a Qualified Persons as defined in National Instrument 43-101. Mr. Sarjeant is the President and Chief Operating Officer and Director of Kobo.

About Kobo Resources Inc.

Kobo Resources is a growth-focused gold exploration company with a compelling new gold discovery in Côte d’Ivoire, one of West Africa’s most prolific and developing gold districts, hosting several multi-million-ounce gold mines. The Company’s 100%-owned Kossou Gold Project is located approximately 20 km northwest of the capital city of Yamoussoukro and is directly adjacent to one of the region’s largest gold mines with established processing facilities.

With over 26,432 metres of diamond drilling, nearly 5,900 metres of reverse circulation (RC) drilling, and 5,900 metres of trenching completed since 2023, Kobo has made significant progress in defining the scale and prospectivity of its Kossou’s Gold Project. Exploration has focused on multiple high-priority targets within a 9+ km strike length of highly prospective gold-in-soil geochemical anomalies, with drilling confirming extensive mineralisation at the Jagger, Road Cut, and Kadie Zones. The latest phase of drilling has further refined structural controls on gold mineralisation, setting the stage for the next phase of systematic exploration and resource development.

Beyond Kossou, the Company is advancing exploration at its Kotobi Project and is actively expanding its land position in Côte d’Ivoire with prospective ground, aligning with its strategic vision for long-term growth in-country. Kobo remains committed to identifying and developing new opportunities to enhance its exploration portfolio within highly prospective gold regions of West Africa. Kobo offers investors the exciting combination of high-quality gold prospects led by an experienced leadership team with in-country experience. Kobo’s common shares trade on the TSX Venture Exchange under the symbol ‘KRI’. For more information, please visit www.koboresources.com .

NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Cautionary Statement on Forward-looking Information:

This news release contains ‘forward-looking information’ and ‘forward-looking statements’ (collectively, ‘forward-looking statements’) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as ‘expects’, or ‘does not expect’, ‘is expected’, ‘anticipates’ or ‘does not anticipate’, ‘plans’, ‘budget’, ‘scheduled’, ‘forecasts’, ‘estimates’, ‘believes’ or ‘intends’ or variations of such words and phrases or stating that certain actions, events or results ‘may’ or ‘could’, ‘would’, ‘might’ or ‘will’ be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and the delay or failure to receive board, shareholder or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, Kobo assumes no obligation and/or liability to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251113794597/en/

For further information, please contact:

Edward Gosselin
Chief Executive Officer and Director
1-418-609-3587
ir@kobores.com

Twitter: @KoboResources | LinkedIn: Kobo Resources Inc.