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NEWT GINGRICH: The simplest way to make American life affordable again

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Americans have delivered the same message in the last two elections: make life affordable again. 

They are tired of working harder for less, while the cost of everything — from housing to education to insurance — keeps rising. The affordability crisis touches every household, and its biggest driver is the one Washington refuses to tackle seriously: healthcare. 

Healthcare now consumes nearly one-fifth of our economy. It is the largest single cost for employers, the fastest-growing burden on families, and the quietest drain on national growth. Every dollar businesses spend on bloated health costs is a dollar not available for higher wages, new jobs or investment. Every dollar families spend on premiums or out-of-pocket costs is a dollar they can’t use for savings, housing or opportunity. Until we fix healthcare, we can’t fix affordability. 

It’s not that Washington ignores healthcare — it’s that it thinks about it too narrowly. Politicians obsess over temporary subsidies, tax credits and program expansions that make insurance more expensive to subsidize but never make care itself more affordable. The current fight over extending COVID-era insurance subsidies is a perfect example. Even supporters of Obamacare now admit that the ‘Affordable’ Care Act turned out to be unaffordable. Their answer is to borrow more money to prop up a system that keeps getting worse. That is not reform — it’s surrender.

There are three truths both parties must face. 

First, the system is already too expensive and locked in a pattern that guarantees it will grow more unaffordable every year. 

Second, 60 years of bureaucratic control — public and private — have utterly failed to contain costs.

Third, we must build a new model that relies on patients, doctors and employers — not massive government and insurance-company bureaucracies — to achieve the change Americans want. 

Sen. Markwayne Mullin discusses future healthcare negotiations

That model is not theoretical — it already works in the rest of our economy. When people have access to clear prices and quality information before making decisions, competition drives innovation, choice and lower costs. Technology has made this possible in every industry, from travel to retail to manufacturing. If the same principles applied to healthcare, we could unleash that same power to lower costs and improve quality. 

Instead, our opaque, bureaucratic system hides prices and multiplies middlemen. The average family of four now spends roughly $27,000 a year on health insurance — about the cost of a new Chevrolet or Toyota every 12 months. Most families don’t see the full bill because their employer or the government pays much of it, but that just means their wages are smaller. Paying the equivalent of a new car every year just for coverage is why Americans list affordability as their top economic concern.

Worse, nobody knows what anything costs — not patients, not families, not even the self-funded employers who pay the claims for their plan members. Bills arrive months after care, after passing through a maze of third-party administrators, repricers and billing vendors. That secrecy fuels waste, fraud and frustration. It’s estimated that 30% to 50% of all healthcare spending is administrative rather than medical. In short, America’s healthcare system has more middlemen than medicine. 

And who benefits? Powerful interest groups, insurers, consultants and bureaucracies that profit from complexity and confusion. As Tom Cruise shouted in ‘Jerry Maguire’: ‘Show me the money.’ Behind the speeches and lobbyists defending this broken system are people determined to protect their share of a bankrupting status quo. 

Second, 60 years of bureaucratic control — public and private — have utterly failed to contain costs.

Politicians can’t fight every entrenched interest group — but millions of patients and doctors armed with real price and quality information can. Transparency gives power back to those who actually deliver and receive care. When they can see what things cost, they can make smarter choices, reward efficiency and hold wasteful players accountable. Transparency doesn’t just lower prices — it changes who holds the power.

That’s why President Donald Trump’s price-transparency executive order in his first administration was a genuine breakthrough. It required hospitals and insurers to publish negotiated prices and, through the No Surprises Act, directed officials to create Advance Explanations of Benefits (AEOBs) so Americans could know their costs before receiving care. Trump started the transparency revolution. Under the Biden administration, enforcement stalled, and patients never saw the full benefit. 

Now Trump has the chance to finish what he began — and make transparency permanent. 

The administration has the authority to act right now under his ‘radical transparency’ executive order issued earlier this year, the No Surprises Act, and existing Employee Retirement Income Security Act authority. The Centers for Medicare & Medicaid Services should immediately issue and enforce AEOB rules. The Department of Labor should guarantee employers access to complete claims and pricing data while protecting patient privacy. If the administration moves quickly, Americans could begin receiving AEOBs in 2026 — and Trump could rightfully claim a historic victory for transparency, competition and higher wages before the midterms. 

AOC dodges question on healthcare for illegal immigrants during CNN town hall

Congress should reinforce this effort by passing the bipartisan Patients Deserve Price Tags Act, led by Kansas Republican Sen. Roger Marshall and Colorado Democrat Sen. John Hickenlooper. The bill secures employer access to data and ensures no third-party administrator can hide prices from the people who pay the bills. The executive branch can act today; Congress should make it permanent.

When every patient and employer can see prices, markets will clean out waste on their own. Transparency gives employers the power to negotiate directly with providers and patients the ability to choose wisely. Prices in the open create competition that middlemen can’t survive and costs they can’t hide. The ripple effect — lower costs, higher wages, more investment — will strengthen every part of the economy. 

If America truly wants to make life affordable again, healthcare transparency is where we start.

It’s bold. It’s achievable. And it’s the single biggest step we can take to restore prosperity for working families.   

Disclaimer: Gingrich 360 has consulting clients in the healthcare industry which may be impacted by changes to healthcare laws. 


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Apple’s Child-Safety Pivot Shows Shareholder Engagement Beats Divestment

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About a year ago, I was in a room full of financial professionals explaining how the corporate engagement firm I work for, Bowyer Research, is dialoguing with Apple on the issue of child safety. Discussing the best ways to combat online child sex abuse material (CSAM) is not a fun story. As I explained the reality of Apple’s CSAM problem, in a room largely made up of Apple users, I saw a lot of concerned expressions and awkward glances at iPhones on conference tables. It’s an understandable reaction. But it drives home the point that those of us in this industry wake up every day trying to make— and I said as much.

Child exploitation is what predators do with their iPhones. Stopping child exploitation is what we’re doing with *our* iPhones.

Let me back up. My day job, corporate engagement, involves helping shareholders of companies like Apple use their financial influence to have conversations about issues at the world’s biggest brands. Oftentimes, these conversations surround corporate politicization, ESG, DEI, and the like. But, during the past two years, we’ve been having conversations at Apple about something more bipartisan: stopping the distribution of child sex abuse material.

It’s a conversation that needs to happen. The company that gave us the iPhone has driven some of the most successful and recognizable innovations in the modern world. But Apple has also staked out a definite position in the privacy-versus-oversight debate. Those incredibly high-profile privacy commitments are ingrained into the company’s ethos, and it’s for that reason that engaging them on the issue of online child safety has been such a complicated endeavor. Despite Apple’s commitments to human rights and its stated belief that “business can and should be a force for good,” the company’s been facing down a massive CSAM distribution issue. Apple recently was the subject of a $1.2 billion class action lawsuit, with victims of child sex abuse alleging that the company didn’t appropriately address videos of their abuse being distributed on platforms such as iMessage. Apple notably rolled back a planned anti-CSAM technology called NeuralHash in 2022 over privacy concerns, sparking criticism from child safety organizations.

It’s not that the technology didn’t exist, but that Apple decided the cost-benefit analysis wasn’t in its favor. That decision, right or wrong, has had real-world consequences, including significant legal liability for Apple. Investors are therefore right to ask how the company arrived at the decision to roll back the software.

This isn’t merely a moral point but an economic one (and in an aspirationally free and virtuous society, those two are connected). It was time for shareholders to get involved. Last year, Bowyer Research filed a shareholder proposal at Apple on behalf of American Family Association, an Apple investor, asking the company to publicly report the costs and benefits of not deploying anti-CSAM software. The proposal received enough shareholder support for us to bring it back this year. More importantly, it gained us several productive discussions with the company to discuss child safety.

We’d all do well to remember that the issues and decisions facing America’s biggest companies are not merely issues to be opined about by external nonprofits, NGOs, and pundits (although countless admirable, constructive examples of such entities exist). They were investor-to-company discussions. 

Shareholders, the individuals and institutions who own Apple and are literally bought into its business model and responsibility for continued success, deserve a larger and more serious role in that discussion. In a properly functioning company with a fiduciary duty to its investors, CEOs work for boards, and boards for shareholders. Investors, whose continued returns depend on companies making the right decisions, absolutely have something to say about controversial issues that those companies must navigate. Apple’s choices on combating online child abuse are no different.

And those discussions yielded results. After two years of constructive engagement from the American Family Association, along with increased legislative scrutiny regarding age protections from red states like Utah and Texas, Apple adopted changes to its child safety protocols: restrictions on underage users viewing adult-rated apps in its App Store and stringent explicit content filtering for underage users on iMessage.

This is a major win. Not just for investors, but for the almost 90 percent of teens who reportedly own iPhones. It’s a big step in the right direction to make sure that online predators have fewer tools to abuse children online. And it’s an indicator of yet another point that those of us in the corporate engagement world wake up every day to defend: genuine shareholder advocacy creates real impact.

For a long time, people have defended the idea that the best approach to values-based investing is screening out any problematic stocks from a portfolio (common categories are defense stocks, energy companies that prioritize fossil fuels, and the like). But right now, results we’re seeing at the world’s most valuable brand indicate there’s a more impactful approach than screening.

When you screen a company out of your portfolio, you give up your leverage with that company, bringing your investor influence to zero. But when you use your investor influence to dialogue about the issues that impact the companies you own (and therefore, impact your future), you are maximizing your investor influence. It’s not just Apple — we’re seeing results at companies across sectors, from viewpoint protections at JPMorgan Chase to depoliticized corporate policies at tech giants like IBM. Shareholder advocacy like the American Family Association’s gets discussions, builds relationships, and creates genuine change.

Too often, we talk about fixing businesses as if companies can only ever choose between doing the morally correct thing or making money. This is false framing. When it comes to child safety, Apple is making the right move not only for its youngest and most vulnerable users but for the investors who depend on its continued success for their financial future. And we’re right to celebrate that as a win for the shareholder advocacy model. This isn’t a moment to lean out and divest.

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The Savage Heart of Socialism: Fear and Loathing Among the Democratic Socialists of America

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Democratic Socialism, at least recently, is a growth brand. According to The Nation, between 2016 and 2020 membership in the Democratic Socialists of America (DSA) grew from 6,000 to over 90,000. And an article at reformandrevolution.org — the website of a “revolutionary Marxist caucus” of the DSA — claimed that after the 2024 presidential election the DSA experienced “a 5-6 times increase in new recruits.” 

The group’s political success also impresses. Nationally prominent politicians such as Rashida Tlaib and Zohran Mamdani are formal members. Others, such as Alexandria Ocasio-Cortez and Bernie Sanders, self-identify as democratic socialists. 

Hoping to understand the brand’s cachet, and how long its growth may last, one night I dropped down the DSA rabbit hole to experience it for myself. Several videos from the 2025 national convention, which took place in Chicago in early August, are available on YouTube. 

A roundtable discussion titled “The Left and The Family” first caught my eye. Onstage, four women wearing facemasks led the discussion. They seemed despondent at the state of the US under Trump. 

“We are in an extremely reactionary moment. We are in a fascist moment,” one said, before introducing the idea of “family abolition.” There followed some soul-searching about what this term means. The panelists were not against familial relationships per se, but rather against the “white patriarchal” nuclear family as a foundation of society. 

The conversation wound between ideas both defensible (“it’s a myth that there is one mother to any of us,”) and absurd (child protective services exist to channel children into prison so they can serve as cheap labor for capitalists). Overall, sentiment favored a future in which interpersonal life will have less to do with family and more to do with the collective.  

To me, it didn’t sound like a future to relish. And given the DSA’s meteoric rise to relevance, the room overall seemed to be light on joie de vivre. Had newly elected New York City Mayor Zohran Mamdani been present, his persistently earnest smile might have leavened the vibe a bit. 

Or maybe I just needed something more remedial to help get my head around the DSA mindset. An older video offered a slideshow on basic socialism narrated by the DSA’s national co-chair, Megan Romer. It was candid, enlightening, and reasonably upbeat. My first light-bulb moment came when Romer explained how becoming a socialist is not typically an involved intellectual process. 

“Most people become socialist because of one issue,” Romer said. “They usually become socialists because of something they specifically got mad about in the news. That is the primary thing that makes people become a socialist.” 

It struck me as odd. I don’t recall anger playing a big role in my support for capitalism, other than maybe learning the plight of independent thinkers in places like the Soviet Union or Maoist China. 

Being an economics major in college, there was also an intellectual aspect to my worldview. It formed slowly as I gained insight into the beneficial organizing power of free markets. Capitalism may not create social utopias, but at least it generates the greatest level of economic wealth in human history. 

The slideshow continued with an explanation of Marxism. The highlight was a slide with a laid-back-looking Karl Marx in a convertible (something capitalist economies have likely produced far better than communist). “Get in loser,” the caption read; “We’re seizing the means of production.” 

From there, the presentation bogged down in industrial-age tropes of leisurely, cigar-chomping capitalists, whom Romer termed “bosses,” and their exploited proletariat workforce. Two centuries after Marx, socialism has trouble reckoning with capitalism’s social mobility and its expansion and empowerment of the middle class.  

Though I don’t consider myself a proletarian, I’ve had many bosses in my career, some better than others. But the truth is that most worked longer hours than I did. And almost all had more experience than me. This probably explains why their paychecks were bigger than mine. Socialism, however, is a narrative that needs a cartoonish villain, and the capitalist overlord oppressing underlings provides it.  

In the end, I came out of the DSA rabbit hole unswayed to socialism. But maybe winning arguments isn’t the group’s main goal. My second lightbulb moment had come when Romer informed the audience that they should not expect socialism to gain power through a contest of ideas. 

“Power only cedes itself to a greater degree of power,” she said. “We win by making conditions so intolerable for the ruling class that they would rather give in to our demands than continue to live with the disturbance we cause, until we are able to fully seize power ourselves.” 

There is an old saying that those who are not communist before age 30 have no heart, and those who are still communist after age 30 have no brain. The heart is not only the seat of affection but of anger, something few people had more of than Karl Marx. From what I saw, modern democratic socialists are carrying his legacy forward with hearts that have moved from anger to a desire for control. In the end, seizing the means of production requires control of not only private businesses, natural resources, and factories, but human bodies and minds. It’s a road many nations have gone down with tragic results. Let’s hope the US isn’t next. 

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Fannie Mae Set to Scrap 620 Credit Score Minimum — Should You Care?

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Social media has been discussing Fannie Mae’s announcement that the organization will no longer require a minimum credit score of 620 for mortgages. Is this a big deal?

Likely not. Freddie Mac has already dropped its minimum credit score requirement. These requirements applied to the automated underwriting process for mortgages. (Underwriting is the process that determines whether someone is eligible for a loan and under what terms.) The government-supported enterprises (GSEs) also offer a manual underwriting process for more complex cases.

Credit scores will still matter for both forms of underwriting, but abandoning a hard minimum means that someone with a credit score just below the prior minimum will now be able to get a mortgage so long as they are reducing credit risk in other ways, such as by offering a large down payment. Some borrowers with credit scores below 620 may in fact be good risks, at least at the rate offered by the lender.

The GSEs have an immense amount of data at their disposal to develop models to predict the risk that any particular borrower will default. If they are doing good actuarial work to predict those risks and price mortgage loans appropriately, there is no need for them to maintain an arbitrary minimum credit score.

I’ve been critical of counterproductive proposals to try to make housing more affordable and available by subsidizing demand. The 50-year mortgage proposal floated by Bill Pulte, the Federal Housing Finance Agency director, deservedly faced a lot of questions and now appears dead. (His new proposal to allow “portable” mortgages in which homebuyers can keep the terms, especially the interest rates, of mortgages on the houses they are leaving could be a better idea, depending on implementation. It could reduce mortgage lock-in and free up new homes for sale.)

But the new Fannie Mae rule seems to be a technical adjustment rather than a result of political pressure to make more loans. Private mortgage lenders will still be able to apply their own credit score minimums, and credit scores will still play a big role in the mortgage guarantees that Fannie Mae and Freddie Mac offer. The social media outrage cycle seems to have jumped the gun on this one.

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Skyharbour Enters into Major Strategic Agreement with Denison Mines to Form Four New Joint Ventures at Russell Lake; Combined Project Consideration of up to $61.5 Million

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Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) (‘Skyharbour’, ‘SYH’ or the ‘Company’) is pleased to announce that it has entered into a definitive repurchase agreement (the ‘Strategic Agreement’) with Denison Mines Corp. (‘Denison’ or ‘DML’) whereby Denison will acquire an initial project interest in Skyharbour’s Russell Lake Uranium Project (‘Russell’ or the ‘Project’) and the parties have agreed to enter into four separate joint venture agreements at closing on various claims making up Russell (the ‘Transaction’). The Project is strategically located in the central portion of the Eastern Athabasca Basin of northern Saskatchewan, with access to regional infrastructure, including an all-weather road and powerline.

Russell Lake Project Location Map:
http://www.skyharbourltd.com/_resources/images/2025-11-14%20SKY-RussellLake-Updated.jpg

Highlights:

  • Strategic Agreement represents combined total project consideration of up to CAD $61.5 million consisting of cash or share payments to Skyharbour totalling up to $21.5 million (including $18.0 million before year end) plus expenditures totalling up to $40.0 million for Denison to acquire between a 20% and 70% ownership interest over seven years in the claims making up Russell, with Skyharbour owning the remaining interests.
  • Denison (TSX: DML; NYSE American: DNN), a leading uranium mining company with a market capitalization of over $3 billion, is developing the Wheeler River Project (‘Wheeler River’), which shares a 55 kilometre border with Russell. Denison is an existing, large corporate shareholder of Skyharbour and now joins the Company as a strategic, active, funding partner at Russell.
  • The Project will be divided into four different joint ventures, including Russell Lake (‘RL’), Getty East, Wheeler North, and the Wheeler River Inlier Claims, of which Skyharbour will retain initial ownership interests of 80%, 70%, 51%, and 30%, respectively. Denison can then earn up to a 70% interest in the Wheeler North and Getty East properties through option agreements.
  • The technical teams of Denison and Skyharbour will work cooperatively to advance and unlock value across the joint ventures, employing top-tier exploration and development expertise in the region.
  • Denison has committed to a minimum of $4 million in exploration expenditures over the first two years at Wheeler North and Getty East combined, as well as agreeing to fund to maintain its pro-rata 20% participation interest in the RL claims through 2029 up until such time that total exploration expenditures on the property reach $10 million.
  • Skyharbour to remain operator with an 80% ownership interest at the RL claims comprising over 53,192 hectares of the original 73,314 hectare Russell Lake Project. The Company will also act as operator during the first earn-in at Getty East with Denison sole funding the exploration in order to fulfill the earn-in option criteria.
  • Skyharbour to benefit with a substantial financial commitment from Denison before year end to help fund its uranium exploration and corporate activities through 2026. The Company will also generate revenue from its operator fee at the McGowan Lake exploration camp at the Project.
  • Skyharbour will continue to directly advance its high-grade Moore Uranium project as well as the RL claims at Russell, while partner companies fund exploration at some of the Company’s other projects.

Jordan Trimble, President and CEO of Skyharbour, stated: ‘This is a transformative transaction for Skyharbour and our shareholders as it represents a major stamp of approval for Russell with up to $61.5 million in combined project consideration coming in. We are very pleased to expand upon our long-standing relationship with Denison and to partner with their team to advance one of the more prospective exploration projects in the Athabasca Basin proximal to existing and developing mines. Denison’s success in exploring, permitting, and developing the neighboring world-class Wheeler River Project will provide considerable insight and experience as we jointly pursue success at Russell. Further, this transaction delivers on our belief that Russell should be treated as multiple different projects due to the abundance of targets and sheer scale of the land package in one of the most prolific uranium exploration corridors in the world. The structure and terms of the Strategic Agreement allow Skyharbour to continue exploring as operator at the majority of the claims at Russell, while participating in the future success that Denison seeks as operator at the Wheeler North and Wheeler River Inlier claims. Furthermore, we will receive a significant amount of cash and Denison shares to help fund our exploration efforts and corporate activities through 2026.’

David Cates, President and CEO of Denison, further commented: ‘As Denison nears receipt of final regulatory approvals for the Phoenix In-Situ Recovery mine proposed for our flagship Wheeler River property, we are also making measured investments in our project pipeline – including our next development assets and high-potential exploration properties. Given its proximity to Wheeler River, Denison has had an interest in adding Russell to our property portfolio for much of my nearly two decades with the Company. This transaction achieves that objective by providing Denison with the opportunity to lead and participate in exploration efforts across four newly created joint ventures, which are designed to drive collaboration between Denison and Skyharbour’s technical teams. We are excited to build on our long-standing relationship with Skyharbour and accelerate the evaluation of this exceptional package of highly prospective ground.’

Reorganization of the Russell Lake Project:
https://www.skyharbourltd.com/_resources/images/Russell-Map-New.jpg

A map of different colored areas AI-generated content may be incorrect.

Upon closing of the Strategic Agreement, Denison will earn an initial project interest in each of the four new Russell exploration projects including a 49% interest in the Wheeler North claims, a 20% interest in the RL claims, a 30% interest in the Getty East claims, and a 70% interest in the Wheeler River Inlier claims.

  1. Wheeler North (51% SYH, 49% DML ; subject to additional earn-in options ) : The yellow claims in the map above represent 16,409 hectares over eight claims. The claims host some of the exploration targets located proximal to Wheeler River, including the Grayling and Fork Zones. Upon closing of the Transaction, Denison will have the option to increase its interest in Wheeler North to a 70% interest in these claims and Denison will become the operator of Wheeler North as described in more detail below.
  2. Russell Lake or RL (80% SYH, 20% DML) : The pink claims in the map above represent 53,192 hectares over 16 claims. These claims are located north and west of Skyharbour’s Moore Project and host numerous exploration target areas including Christie Lake, NE Russell, Blue Steel, Taylor Bay, South Russell, and Kowalchuk Lake. In order to maintain its initial interest in RL, Denison has agreed to fund its pro rata share of up to a maximum of C$10.0 million in total project expenditures. Upon the closing of the Transaction, Skyharbour will remain operator of RL.
  3. Wheeler River Inliers (30% SYH, 70% DML) . The blue claims in the map above represent 608 hectares over two claims. These are inlier claims within Denison’s Wheeler River project hosting the West Russell and C-Block exploration target areas. DML will become operator of the Wheeler River Inliers.
  4. Getty East (70% SYH, 30% DML ; subject to additional earn-in options ) . The green claim in the map above representing 3,105 hectares is host to the Little Man Lake exploration prospect. The claim borders Cameco’s Cree Zimmer property which holds its Key Lake operations to the south.  Upon the closing of the Transaction, Skyharbour will remain operator of Getty East; however, Denison will have the option to become the operator and acquire up to a 70% interest in this joint venture as described in more detail below.

Transaction Details:

The consideration payment will consist of a $2 million cash payment immediately upon execution of the Strategic Agreement (the ‘Upfront Payment’), and deferred consideration of $16 million (the ‘Deferred Consideration’) payable on or before December 31 st , 2025.

The Deferred Consideration shall be payable in two tranches, each of which may be paid in cash or shares of Denison at Denison’s election, including $8 million on or before the fifth business day prior to December 21 st , 2025, and another $8 million within 10 days of December 21 st , 2025. Closing of the transaction (‘Closing’) is expected to occur on or before December 21 st , 2025.

The current exploration camp at McGowan Lake on the Project will continue to be operated by Skyharbour and an administrative fee will be payable by Denison to Skyharbour. The claims comprising Russell are subject to various existing underlying royalties to other parties.

The Transaction is subject to customary approvals, including Skyharbour obtaining TSX Venture Exchange approval. The Transaction will be considered a Reviewable Transaction under TSX Venture Exchange policies as David Cates is a director of both Denison and Skyharbour.

Denison Earn-In Options:

The Earn-In Option Agreements grant Denison an option to earn additional interests in Wheeler North and Getty East.

Wheeler North Earn-In Option :

Under the terms of the Wheeler North Earn-In Option Agreement, Denison may acquire up to a 70% interest in Wheeler North. The option agreement contains two (2) phases, as summarized below:

Phase 1: To earn an additional 11% interest in Wheeler North (increasing Denison’s ownership to 60%), Denison must:

  • Incur $10.0 million in exploration expenditures at Wheeler North within 48 months of Closing, of which $2.5 million in exploration expenditures must be completed within 24 months of Closing, and
  • Make a cash payment in the amount of $1.5 million to Skyharbour within 48 months of Closing.

Phase 2: To earn an additional 10% interest (increasing Denison’s ownership to 70%) in Wheeler North, Denison must complete the requirements of Phase 1, plus the following:

  • Incur an additional $15.0 million in exploration expenditures at Wheeler North within 7 years of Closing, and
  • Make a further cash payment in the amount of $2.0 million to Skyharbour within 7 years of Closing.

Getty East Earn-In Option Agreement:

Under the terms of the Getty East Option Agreement, Denison may acquire up to a 70% interest in Getty East. The option agreement contains two (2) phases, as summarized below:

Phase 1: To earn an additional 19% interest in Getty East (increasing Denison’s ownership to 49%), Denison must incur $5.0 million in exploration expenditures at Getty East within 48 months of Closing, of which $1.5 million must be completed within the first 24 months of Closing.

Phase 2: To earn an additional 21% interest in Getty East (increasing Denison’s ownership to 70%), Denison must complete the requirements of Phase 1, plus incur an additional $10 million in exploration expenditures within 7 years of Closing. Upon completion of the Phase 2 earn-in option criteria, Denison will have the option to become the operator in this joint venture.

Russell Lake Uranium Project Overview:

The Russell Lake Project is a large, advanced-stage uranium exploration property totalling 73,314 hectares strategically located between Cameco’s Key Lake and McArthur River Projects, and adjoining Denison’s Wheeler River Project to the west and Skyharbour’s Moore Uranium Project to the east. The northern extension of Highway 914 between Key Lake and McArthur River runs through the western extent of the property and greatly enhances accessibility, while a high-voltage powerline is situated alongside this road.

Skyharbour’s New 80% Owned RL Project:

The claims making up the RL Project constitute over seventy percent of the original Russell project area and will continue to be explored by Skyharbour as the operator and 80% owner. Denison will acquire a 20% interest and has agreed to fund to maintain its pro-rata participation interest in the RL claims through December 31 st , 2029, or until such time that total expenditures on the properties have reached $10 million.

The RL claims have numerous highly prospective targets that Skyharbour will continue to advance. The Christie Lake target area contains basement-hosted uranium mineralization with historical drilling returning 0.17% U 3 O 8 over 0.4 metres at 436.4 metres depth in hole CL-10-03, hosted within a strongly hematized breccia. A prospective clay altered basement fault system runs throughout this area.

The Blue Steel target area comprises graphitic metasediments that were last drilled in 2008. The full extent of the graphitic corridor remains unknown and completely untested. Historical geophysics indicate potential faulting along this corridor, highlighting it as a priority area for follow-up work using modern geophysical methods to refine drill targets.

The Kowalchuk area, situated within the southern Russell claims, is another prospective area on the RL claims, with multiple inferred structural trends passing through it. This area has seen only limited modern geophysical coverage to date.

In addition to the aforementioned target areas, there are many kilometres of untested EM conductors on the RL claims underlain by rocks of low magnetic intensity, suggestive of the presence of prospective graphitic meta-pelitic basement lithologies typical of Athabasca-style uranium systems. With limited modern exploration conducted over the past 12 years, the RL claims remain underexplored and highly prospective for both expanding known mineralized zones and making new discoveries.

Advisors and Counsel:

Haywood Securities Inc. is acting as financial advisor to Skyharbour in connection with the Transaction, and AFG Law LLP and DuMoulin Black LLP are acting as legal counsel to Skyharbour.

Qualified Person:

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Serdar Donmez, P.Geo., VP of Exploration for Skyharbour as well as a Qualified Person.

About Skyharbour Resources Ltd.:

Skyharbour holds an extensive portfolio of uranium exploration projects in Canada’s Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with interest in thirty-seven projects covering over 616,000 hectares (over 1.5 million acres) of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project, which is located 15 kilometres east of Denison’s Wheeler River project and 39 kilometres south of Cameco’s McArthur River uranium mine. Moore is an advanced-stage uranium exploration property with high-grade uranium mineralization in several zones at the Maverick Corridor. Adjacent to the Moore Project is the Russell Lake Uranium Project, which hosts widespread uranium mineralization in drill intercepts over a large property area with exploration upside potential. The Company is actively advancing these projects through exploration and drilling programs.

Skyharbour also has joint ventures with industry leaders Denison Mines, Orano Canada Inc., Azincourt Energy, and Thunderbird Resources at the Russell, Preston, East Preston, and Hook Lake Projects, respectively. The Company also has several active earn-in option partners, including CSE-listed Basin Uranium Corp. at the Mann Lake Uranium Project; TSX-V listed North Shore Uranium at the Falcon Project; UraEx Resources at the South Dufferin and Bolt Projects; Hatchet Uranium at the Highway Project; CSE-listed Mustang Energy at the 914W Project; and TSX-V listed Terra Clean Energy at the South Falcon East Project.

In aggregate, Skyharbour has now signed earn-in option agreements with partners that total to potentially over $76 million in partner-funded exploration expenditures and over $42 million in cash and share payments coming into Skyharbour, assuming that these partner companies complete their entire earn-ins at the respective projects.

Skyharbour’s goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.

Skyharbour’s Uranium Project Map in the Athabasca Basin:
http://www.skyharbourltd.com/_resources/images/SKY-SaskProject-Locator-2025-11-14-Updated.jpg

To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com .

Skyharbour Resources Ltd.

‘Jordan Trimble’

Jordan Trimble
President and CEO

For further information contact myself or:
Nicholas Coltura
Investor Relations Manager
Skyharbour Resources Ltd.
Telephone: 604-558-5847
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This release includes certain statements that may be deemed to be ‘forward-looking statements’. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements, including receipt of TSXV approval to the Transaction and the closing of the Transaction. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, exploration and development successes, regulatory approvals including TSXV approval, and general economic, market or business conditions. Please see the public filings of the Company at www.sedarplus.ca for further information.

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Nick Hodge: Copper is My Top 2026 Pick, but Gold, Silver Run Not Done

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Nick Hodge, publisher at Digest Publishing, is most bullish on copper and uranium in 2026, but also believes gold and silver prices have further to go despite recent gains.

‘We are in the middle of a precious metals bull market,’ he said. ‘Silver hasn’t had its day yet, so I think that’s a pretty good indicator that we’ve still got some time to go.’

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

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Gerardo Del Real: Gold, Uranium, Copper and More — Stocks I Like, Why I’m Bullish

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Gerardo Del Real, co-owner of Digest Publishing, breaks down his portfolio, saying he’s currently bullish on copper, gold, silver and uranium, as well as critical metals.

‘I think this is the golden age of exploration and development in the critical metals space and the precious metals space. So take advantage of the market, folks,’ Del Real said.

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

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Crypto Market Update: Saylor Denies Strategy Bitcoin Sale Rumors

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Here’s a quick recap of the crypto landscape for Friday (November 14) as of 9:00 p.m. UTC.

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

Bitcoin and Ether price update

Bitcoin (BTC) was priced at US$94,223.98, a 4 percent increase in 24 hours and its lowest valuation of the day. Its highest was US$97,203.84.

Bitcoin price performance, November 14, 2025.

Bitcoin price performance, November 14, 2025.

Chart via TradingView.

Bitcoin’s drop below US$95,000 on Friday, driven by expiring derivatives, whale selling, and weak institutional and retail demand, has intensified fears of an entrenched bear market.

Analysts predict Q4 could be Bitcoin’s “worst fourth quarter on record.’

On X, analyst @follis_ notes that the Wyckoff Distribution model, a classic five phase pattern typically observed near market tops and often precursor to prolonged selling pressure, could signal a potential end to Bitcoin’s bull run.

The pattern suggests that after a buying climax near US$122,000 and a sequence of tests failing to create new highs, the price entered a markdown phase. Bitcoin could drop to US$86,000 if key support levels fail to hold.

Meanwhile, Ether (ETH) was priced at US$3,129.77, a 1.6 percent decrease in the last 24 hours. Its lowest valuation of the day was US$3,131.31, while its highest was US$3,246.27.

Altcoin price update

  • Solana (SOL) was priced at US$139.74, down by 1.9 percent over the last 24 hours. Its lowest valuation of the day was US$138.83, while its highest was US$143.61.
  • XRP was trading for US$2.27, down by 1.5 percent over the last 24 hours. Its lowest valuation of the day was US$2.26, while its highest was US$2.33.

Fear and Greed Index snapshot

Bitcoin’s bearish trajectory has pushed market sentiment into extreme fear. As of today, CMC’s Crypto Fear & Greed Index continues to trend in extreme fear territory with the indicator sitting at 22, marking the lowest levels of investor confidence since March and signaling that traders are highly cautious about entering the market.

CMC Crypto Fear and Greed Index, Bitcoin price and Bitcoin volume.

CMC Crypto Fear and Greed Index, Bitcoin price and Bitcoin volume.

Chart via CoinMarketCap.

Derivatives data

Bitcoin and Ether futures markets saw a wave of long-side liquidations in the hours leading up to the end of the trading day, signaling trader capitulation amid continued price weakness. Roughly US$65.24 million in Bitcoin positions were liquidated over a four hour window, with the bulk coming from longs. Ether followed a similar pattern, registering US$22.13 million in liquidations, again concentrated among leveraged long positions.

The liquidations coincided with a clear contraction in open interest, suggesting that traders not only endured forced unwinds but also reduced overall exposure. Bitcoin open interest slipped 2.3 percent to US$66.05 billion, while Ether open interest saw a sharper 3.8 percent decline to US$36.31 billion.

Funding rates stayed positive — 0.007 for Bitcoin and 0.012 for Ether — indicating that the futures market remained slightly tilted toward bullish positioning despite the shakeout.

However, Bitcoin’s relative strength index sat at a notably low 27.33, entering the oversold zone and hinting that derivatives pressure may have pushed the market toward a possible short-term exhaustion point.

Taken together, the metrics point to forced deleveraging rather than a broad directional shift, though sustained weakness in open interest could temper near-term volatility once liquidation volumes normalize.

Today’s crypto news to know

Saylor denies reports of Bitcoin selloff

Strategy’s (NASDAQ:MSTR) Michael Saylor took to X on Friday to debunk reports that the company has reduced its Bitcoin holdings by roughly 47,000 BTC.

“I think the volatility comes with the territory,” he reiterated in a CNBC interview that day. “If you’re going to be a Bitcoin investor, you need a four-year time horizon and you need to be prepared to handle the volatility in this market.”

An earlier post from @Crypto Crib claims that the company had offloaded over 30,000 BTC; however, community-supplied context clarifies that 22,704 BTC were moved on October 31, and that these transfers were internal custody movements, not open-market sales.

Tether expanding commodity lending

In an interview with Bloomberg, Tether CEO Paolo Ardoino said the company is ‘expanding its presence in commodity lending,’ noting that the focus going forward will include traditional commodity trades like agriculture and oil managed under its new Trade Finance unit, which provides short-term credit for global supply chains.

The company has lent roughly US$1.5 billion in credit to commodities traders so far.

Alibaba builds tokenized payment system

Alibaba Grou Holding (NYSE:BABA) is developing a stablecoin-like system to streamline cross-border payments for its US$35 billion e-commerce network, aiming for a year-end launch.

The tokenized platform will initially support US dollars and euros, and will include further plans to expand to additional currencies using JPMorgan’s tokenization technology.

Under the system, artificial intelligence-driven smart contracts will automate settlements, dispute resolution, and conditional fund releases to reduce friction in B2B transactions. The system will operate alongside Alibaba’s Agentic Pay rail to enhance speed and transparency.

While not a formal stablecoin, the solution acts as a fiat-backed digital token for settlement purposes.

UAE tightens crypto access

The United Arab Emirates (UAE) has enacted a new central bank law that broadens licensing requirements for financial services, effectively criminalizing unlicensed crypto activity. Article 170 imposes penalties, including fines up to AED 500 million (US$136 million) and imprisonment, for offering financial products without authorization.

Self-custody tools, such as Bitcoin wallets, blockchain explorers, and market-data services, now fall under the licensing net, creating compliance challenges for providers inside and outside the UAE.

Article 61 further restricts promotion, marketing, or publication of unlicensed financial activities, affecting even online communications. Companies have a one year window to comply, subject to central bank discretion.

Uniswap introduces continuous clearing auctions

Uniswap introduced continuous clearing auctions on Thursday (November 13), a new protocol aiming to facilitate token offerings through its infrastructure. The company said that the protocol will help teams ‘bootstrap liquidity on Uniswap v4 and find the market price for new and low-liquidity tokens,’ adding that several additional tools currently under development will eventually be added to help projects launch and deepen token liquidity on the platform.

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

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

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Skyharbour Consolidates 100% Interest in the Russell Lake Uranium Project

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Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) (‘Skyharbour’ or the ‘Company’) is pleased to announce that is has entered into a definitive and binding purchase agreement (the ‘Purchase Agreement’) with Rio Tinto Exploration Canada Inc. (‘RTEC’) to increase and consolidate its ownership interest in the Russell Lake Uranium Project (‘Russell Lake’ or the ‘Project’) through the acquisition of RTEC’s minority interest in the Project (the ‘Transaction’). The Project is strategically located in the central core of the Eastern Athabasca Basin of northern Saskatchewan, with access to regional infrastructure, including an all-weather road and powerline.

Russell Lake Project Location Map:
https://www.skyharbourltd.com/_resources/images/SKY_RussellLake.jpg

Transaction Details:

Immediately prior to closing, RTEC’s interest in the Project will be approximately 42.3%. Pursuant to the terms of the Purchase Agreement, Skyharbour has agreed to acquire 100% of RTEC’s minority interest in the Project in exchange for cash consideration of C$10 million (the ‘Purchase Price’). The Purchase Price shall consist of a C$2 million deposit payable within five business days of the date of execution of the Purchase Agreement (the ‘Deposit’) and a C$8 million cash payment at closing (the ‘Closing Payment’), which is expected to be on or before December 21 st , 2025.

Skyharbour shall grant to RTEC a 0.25% net smelter returns royalty over Russell Lake. The acquisition of RTEC’s interest in Russell Lake will increase Skyharbour’s interest in the Project to 100%, subject to several other net smelter return royalties held by third parties.

Russell Lake Uranium Project Overview:

The Russell Lake Project is a large, advanced-stage uranium exploration property totalling 73,314 hectares strategically located between Cameco’s Key Lake and McArthur River Projects, and adjoining Denison’s Wheeler River Project to the west and Skyharbour’s Moore Uranium Project to the east. The northern extension of Highway 914 between Key Lake and McArthur River runs through the western extent of the property and greatly enhances accessibility, while a high-voltage powerline is situated alongside this road. Skyharbour’s acquisition of a majority interest in Russell Lake creates a large, nearly contiguous block of highly prospective uranium claims totalling 109,019 hectares between the Russell Lake and the Moore uranium projects. Several notable exploration targets exist on Russell, including the Grayling Zone, the M-Zone Extension target, the Little Man Lake target, the Christie Lake target, the Fox Lake Trail target and the newly identified Fork Zone target. More than 35 kilometres of largely untested prospective conductors in areas of low magnetic intensity also exist on the Property. Skyharbour is the operator and owns a majority interest in Russell Lake, having formed a joint venture partnership with RTEC at the project.

Qualified Person:

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Serdar Donmez, P.Geo., VP of Exploration for Skyharbour as well as a Qualified Person.

About Skyharbour Resources Ltd.:

Skyharbour holds an extensive portfolio of uranium exploration projects in Canada’s Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with interest in thirty-seven projects covering over 616,000 hectares (over 1.5 million acres) of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project, which is located 15 kilometres east of Denison’s Wheeler River project and 39 kilometres south of Cameco’s McArthur River uranium mine. Moore is an advanced-stage uranium exploration property with high-grade uranium mineralization in several zones at the Maverick Corridor. Adjacent to the Moore Project is the Russell Lake Uranium Project, which hosts widespread uranium mineralization in drill intercepts over a large property area with exploration upside potential. The Company is actively advancing these projects through exploration and drilling programs.

Skyharbour also has joint ventures with industry leader Orano Canada Inc., Azincourt Energy, and Thunderbird Resources at the Preston, East Preston, and Hook Lake Projects, respectively. The Company also has several active earn-in option partners, including CSE-listed Basin Uranium Corp. at the Mann Lake Uranium Project; TSX-V listed North Shore Uranium at the Falcon Project; UraEx Resources at the South Dufferin and Bolt Projects; Hatchet Uranium at the Highway Project; CSE-listed Mustang Energy at the 914W Project; and TSX-V listed Terra Clean Energy at the South Falcon East Project.

In aggregate, Skyharbour has now signed earn-in option agreements with partners that total to over $36 million in partner-funded exploration expenditures, over $20 million worth of shares being issued, and $14 million in cash payments coming into Skyharbour, assuming that these partner companies complete their entire earn-ins at the respective projects.

Skyharbour’s goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.

Skyharbour’s Uranium Project Map in the Athabasca Basin:
https://skyharbourltd.com/_resources/news/SKY_SaskProject_Locator_2025_07_16_v1.jpg

To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com .

Skyharbour Resources Ltd.

‘Jordan Trimble’

Jordan Trimble
President and CEO

For further information contact myself or:
Nicholas Coltura
Investor Relations Manager
Skyharbour Resources Ltd.
Telephone: 604-558-5847
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This release includes certain statements that may be deemed to be ‘forward-looking statements’. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements, including receipt of TSXV approval to the Transaction and the closing of the Transaction. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, exploration and development successes, regulatory approvals including TSXV approval, and general economic, market or business conditions. Please see the public filings of the Company at www.sedarplus.ca for further information. 

Holly Iervella

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Trump calls on House Republicans to vote to release Epstein files: ‘We have nothing to hide’

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President Trump is calling on House Republicans to vote to release files related to disgraced financier Jeffrey Epstein, insisting he has ‘nothing to hide’ and accusing Democrats of using the case as a distraction from GOP accomplishments.

In a Truth Social post on Sunday, Trump urged House Republicans to vote in favor of releasing the documents, describing the controversy as a ‘Democrat hoax perpetrated by radical left lunatics.’

‘As I said on Friday night aboard Air Force One to the Fake News Media, House Republicans should vote to release the Epstein files, because we have nothing to hide, and it’s time to move on from this Democrat Hoax perpetrated by Radical Left Lunatics in order to deflect from the Great Success of the Republican Party, including our recent Victory on the Democrat ‘Shutdown,” Trump wrote.

Trump pointed to the Department of Justice’s (DOJ) previous release of thousands of pages of Epstein-related documents. 

He also noted that the agency is investigating possible ties between Epstein and ‘Democrat operatives’ including former President Bill Clinton, LinkedIn co-founder Reid Hoffman and former Treasury Secretary Larry Summers.

‘The House Oversight Committee can have whatever they are legally entitled to, I DON’T CARE!’ Trump said.

He added, ‘All I do care about is that Republicans get BACK ON POINT, which is the Economy, ‘Affordability’ (where we are winning BIG!), our Victory on reducing Inflation from the highest level in History to practically nothing, bringing down prices for the American People, delivering Historic Tax Cuts, gaining Trillions of Dollars of Investment into America (A RECORD!), the rebuilding of our Military, securing our Border, deporting Criminal Illegal Aliens, ending Men in Women’s Sports, stopping Transgender for Everyone, and so much more!’

Trump also argued that if the Democrats ‘had anything,’ it would have surfaced prior to last year’s presidential election.

‘Nobody cared about Jeffrey Epstein when he was alive and, if the Democrats had anything, they would have released it before our Landslide Election Victory,’ Trump said. ‘Some ‘members’ of the Republican Party are being ‘used,’ and we can’t let that happen. Let’s start talking about the Republican Party’s Record Setting Achievements, and not fall into the Epstein ‘TRAP,’ which is actually a curse on the Democrats, not us. MAKE AMERICA GREAT AGAIN!’

Attorney General Pam Bondi announced Friday the DOJ would probe prominent Democrats after new emails revealed ties to Epstein.

In an X post Friday afternoon, Bondi said Jay Clayton, U.S. attorney for the Southern District of New York, would take the lead on the investigation.

‘Clayton is one of the most capable and trusted prosecutors in the country,’ Bondi wrote in the post. ‘As with all matters, the Department will pursue this with urgency and integrity to deliver answers to the American people.’

Fox News Digital has reached out to the White House, Bill Clinton, Reid Hoffman and Larry Summers for comment.

Fox News Digital’s Alexandra Koch contributed to this report.


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