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Drilling at the Box deposit continues to demonstrate wide-open mineralization beyond the PEA open-pit

Fortune Bay Corp. (TSXV: FOR,OTC:FTBYF) (FWB: 5QN) (OTCQB: FTBYF) (‘Fortune Bay’ or the ‘Company’) is pleased to announce assay results for the initial three drill holes from the ongoing exploration drilling program at its 100% owned Goldfields Gold Project (‘Goldfields’ or the ‘Project’) in Saskatchewan, one of Canada’s top mining jurisdictions.

The three drill holes were designed to test substantial down-dip gaps in previous drill coverage at the Box deposit (up to 170 m) targeting resource expansion beyond the open-pit limits defined in the Updated Preliminary Economic Assessment (‘Updated PEA’).

The results confirm the continuation of structurally-controlled, higher-grade mineralization at depth.

Assay Highlights:

  • Hole B25-346
    • 2.54 g/t over 17.0 m, including
    • 6.61 g/t over 5.0 m
  • Hole B25-347
    • 6.95 g/t over 2.0 m
    • 3.72 g/t over 3.0 m
    • 4.55 g/t over 3.0 m
    • 2.76 g/t over 7.0 m, including
    • 5.63 g/t over 3.0 m
    • 8.72 g/t over 2.0 m
  • Hole B25-348
    • 2.29 g/t over 9.3 m, including
    • 4.68 g/t over 3.0 m

Gareth Garlick, VP Technical Services, commented, ‘These results add to a growing inventory of strong assays down dip at Box, reinforcing potential for resource growth through additional delineation drilling. Gold mineralization remains wide open down dip at Box, and we are looking forward to additional assays from larger step-out holes that have recently been completed’.

Dale Verran, CEO, added, ‘While PFS-level development is advancing for an open-pit mine at Goldfields, we believe the broader gold resource base has meaningful growth potential through continued expansion and exploration drilling at numerous targets. With nearly all the PEA open-pit resources already classified in the Indicated category, we are uniquely positioned to direct our drill budget toward expansion and discovery rather than resource delineation infill. This provides an opportunity to unlock additional near-mine ounces that could further enhance Goldfields’ already robust economics and strengthen the long-term development profile of the Project.’

Box Deposit – Down-Dip Expansion

As illustrated in Figure 1, the results from B25-346, B25-347 and B25-348 contribute to an expanding dataset of strong down-dip assay intercepts at Box, supporting the potential for delineation of additional mineral resources.

Figure 1: Box Deposit Down-Dip Assay Highlights (CNW Group/Fortune Bay Corp.)

Drill Hole Details and Assay Results

The initial three drill holes at Box were designed to test significant gaps in down-dip drill coverage (up to 170 metres), extending down-dip up to 300 metres beyond the open-pit designed in the Updated PEA. All three holes successfully intersected the mineralized Box Mine Granite (‘BMG’) at or near the depths predicted by the geological model. Observed mineralization characteristics – including quartz vein orientation, thickness, and vein density – are consistent with those documented elsewhere within the deposit.

Higher gold grades at the Box deposit are typically associated with discrete north-south trending structural zones exhibiting increased quartz vein intensity. These higher-grade zones, extending below the Updated PEA open-pit base, present attractive targets for delineation drilling focused on expanding the mineral resources.

The current drilling at Box is oriented towards the east, with dips as shallow as practically achievable (approximately -55° to -60°) to intersect structural zones at the highest angle possible (closest to true thickness) and to maximise the internal coverage of the BMG for each drill hole.

Table 1: Assay results for drill holes B25-346, B25-347 and B25-348.

Hole ID

From (m)

To (m)

Length (m)

Au (g/t)

Collar
Location

Azimuth /

Dip

B25-346

228

245

17.0

2.54

X 640436

Y 6593101

070 / -60

incl.

228

233

5.0

6.61

254

273

19.0

1.42

B25-347

297

312

15.0

1.91

X 640362

Y 6593025

083 / -56

incl.

297

299

2.0

6.95

and

305

308

3.0

3.72

355

374

19.0

1.86

incl.

357

360

3.0

4.55

and

367

374

7.0

2.76

incl.

371

374

3.0

5.63

432

434

2.0

8.72

B25-348

273.68

283

9.3

2.29

X 640309

Y 6592953

085 / -62

incl.

275

278

3.0

4.68

294

298

4.0

1.60

309

319

10.0

1.26

Notes:

1.

Additional assay results for B25-348 are pending (from 448 to 480 metres)

2.

Results shown are assays from 1 metre samples composited into longer intervals with a minimum lower cut-off of 0.5 g/t Au, and maximum 5 metres of consecutive waste defined as < 0.3 g/t Au.

3.

Lengths shown represent core length. True thickness of the mineralized intercepts is expected to be approximately 80% of the core length based on the dominant mineralized quartz vein orientations at Box, however this may vary on an individual sample basis.

4.

Sample locations are provided in NAD83 UTM Zone 12N. Hole azimuths are true north.

2025-2026 Exploration Drilling Program

The assay results from the three drill holes reported herein form part of a broader exploration drilling program initiated in late 2025, comprising approximately 3,250 metres of planned drilling. The program is designed to evaluate opportunities for mineral resource expansion at the Box and Athona deposits, as well as the potential to define new mineral resources at underexplored historical occurrences including Frontier, Golden Pond, and Triangle. All targets are located within two kilometres of past-producing and anticipated future mine infrastructure (Figure 2).

Figure 2: Goldfields Exploration Potential (CNW Group/Fortune Bay Corp.)

Technical Disclosure & Qualified Person

All drilling is being carried out with NQ diameter. Core trays are transported directly from the drill rig to the Company’s logging facility in Uranium City. Sample intervals are selected for assay based on observations of lithology type, presence of quartz veins and sulphides. These intervals are marked up for continuous sampling with one metre sample increments (adjusted where necessary to not cross lithological boundaries). Core is sawn in half along the core axis for sampling, with the remaining half preserved and stored in the core box. Samples are bagged and placed in plastic pails sealed with security tags for export by air freight to Saskatoon (CA).

All sample processing is being carried out by SRC Geoanalytical Laboratories in Saskatoon using their screened metallics sample process method, which includes; (1) crushing and homogenization of the entire sample; (2) split off a representative 1 kg split for analysis; (3) pulverizing the split with 95 % passing 150 mesh; (3) screening the split at 150 mesh; (4) assay the entire +150 mesh fraction; (5) duplicate assay of two 30 g splits of the -150 mesh fraction; and (6) calculation of the weighted average gold content (in g/t) for the entire sample. All assay is carried out by fire assay with a gravimetric finish.

Certified reference blank and standard material is being used by the Company for independent QAQC of assay results. QAQC samples are inserted into assay sample sequences and results are reviewed to assess for any potential laboratory contamination and to verify assay accuracy and precision. A selected suite of samples will also be sent to another laboratory for additional ‘umpire’ assay testing to further verify the results.

Details for the Updated PEA for Goldfields are provided in the technical report titled ‘Goldfields Project Updated NI 43-101 Technical Report & Preliminary Economic Assessment, Saskatchewan, Canada’, dated October 20, 2025, prepared by Kevin Murray, P.Eng.; Scott C. Elfen, P.E.; James Millard, P.Geo.; Jonathan Cooper, P.Eng.; Marc Schulte, P.Eng.; Cliff Revering, P.Eng.; and Ron Uken, Pr.Sci.Nat. for Fortune Bay Corp. The technical report is available under the Company’s issuer profile on SEDAR+ (www.sedarplus.ca) and on the Company’s website at www.fortunebaycorp.com.

The technical and scientific information in this news release has been reviewed and approved by Gareth Garlick P.Geo., Vice-President Technical Services of the Company, who is a Qualified Person as defined by NI 43-101. Mr. Garlick is an employee of Fortune Bay and is not independent of the Company under NI 43‑101.

About Fortune Bay

Fortune Bay Corp. (TSXV:FOR,OTC:FTBYF; FWB:5QN; OTCQB:FTBYF) is a Canadian mineral exploration and development company with assets in Canada and Mexico. The Company’s primary focus is advancing the Goldfields Gold Project in Saskatchewan, Canada. Fortune Bay also holds the Poma Rosa Gold-Copper Project in Chiapas, Mexico, as well as an optioned uranium project portfolio in the Athabasca Basin of Saskatchewan. Fortune Bay continues to evaluate and advance its portfolio in a disciplined manner while maintaining a strong technical foundation and prudent capital management. For more information, please visit www.fortunebaycorp.com or contact info@fortunebaycorp.com.

On behalf of Fortune Bay Corp.

‘Dale Verran’
Chief Executive Officer
902-334-1919

Cautionary Statement

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. Words such as ‘expects’, ‘aims’, ‘anticipates’, ‘targets’, ‘goals’, ‘projects’, ‘intends’, ‘plans’, ‘believes’, ‘seeks’, ‘estimates’, ‘continues’, ‘may’, variations of such words, and similar expressions and references to future periods, are intended to identify such forward-looking statements, and include, but are not limited to, statements with respect to: the results of the Updated PEA, including future Project opportunities, future operating and capital costs, closure costs, AISC, the projected NPV, IRR, timelines, permit timelines, and the ability to obtain the requisite permits, economics and associated returns of the Project, the technical viability of the Project, the market and future price of and demand for gold, the environmental impact of the Project, and the ongoing ability to work cooperatively with stakeholders, including Indigenous Nations, local Municipalities and local levels of government. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward- looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate Indigenous Nations and local Municipalities, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. For more information on Fortune Bay, readers should refer to Fortune Bay’s website at www.fortunebaycorp.com.

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

Fortune Bay Corp. Logo (CNW Group/Fortune Bay Corp.)

SOURCE Fortune Bay Corp.

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Terra Clean Energy CORP. (‘Terra’ or the ‘Company’) (CSE: TCEC,OTC:TCEFF, OTCQB: TCEFF, FSE: C9O0) announces that it has received the resignation of Alex Klenman as a member of the Board of Directors of the Company effective immediately. The Company thanks Mr. Klenman for his services to the Company and wishes him best wishes for his future endeavors.About Terra Clean Energy Corp.Terra Clean Energy Corp. is a Canadian-based uranium exploration and development company. The Company is currently developing the South Falcon East uranium project, which holds a 6.96M pound inferred uranium resource* within the Fraser Lakes B Deposit, located in the Athabasca Basin region, Saskatchewan, Canada as well as past producing uranium mines in Utah and uranium exploration properties in Wyoming, United States.

ON BEHALF OF THE BOARD OF Terra Clean Energy CORP.

‘Greg Cameron’
Greg Cameron, CEO

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, reviewed and approved on behalf of the company by C. Trevor Perkins, P.Geo., the Company’s Vice President, Exploration, and a Qualified Person as defined by National Instrument 43-101.

*The historical resource is described in the Technical Report on the South Falcon East Property, filed on sedarplus.ca on February 9, 2023. The Company is not treating the resource as current and has not completed sufficient work to classify the resource as a current mineral resource. While the Company is not treating the historical resource as current, it does believe the work conducted is reliable and the information may be of assistance to readers.

Forward-Looking Information

This news release contains certain statements that may be deemed ‘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 may include, without limitation, statements relating to the Company’s planned exploration activities on properties and the potential development of mineral resources and mineral reserves which may or may not occur. 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, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to: competition within the industry; actual results of current exploration activities; environmental risks; changes in project parameters as plans continue to be refined; future price of commodities; failure of equipment or processes to operate as anticipated; accidents, and other risks of the mining industry; delays in obtaining approvals or financing; risks related to indebtedness and the service of such indebtedness; as well as those factors, risks and uncertainties identified and reported in the Company’s public filings under the Company’s SEDAR+ profile at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are made as of the date hereof and, accordingly, are subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

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

For further information please contact:

Greg Cameron, CEO
info@tcec.energy
416-277-6174

Terra Clean Energy Corp
1133 Melville Street, Suite 2700
Vancouver, BC V6E 4E5
www.tcec.energy

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President Donald Trump is open to the idea of supporting militia groups in Iran willing to help take out the regime, according to reports. 

The Wall Street Journal reported that Trump has spoken with Kurdish leaders, who have a sizable force along the Iraq-Iran border.

‘President Trump has spoken with many regional partners,’ White House press secretary Karoline Leavitt told the newspaper in a statement, without confirming Trump’s aims.

Trump spoke with two leaders of the main Kurdish factions in Iraq — Masoud Barzani and Bafel Talabani — a day after the Saturday bombing campaign began, Axios first reported. 

Officials told the Journal that Trump hasn’t made a decision on the matter, including what type of help the United States would provide, be it arms, intelligence or other resources. 

Fox News Digital has reached out to the White House. 

Among the approaches being looked at for Iran moving forward are backing militias while weighing different scenarios for who could realistically take power after the country’s leaders fall, the newspaper reported. 

Trump has urged the people of Iran to overthrow the country’s regime as Tehran appears to be weakened following U.S. and Israeli military strikes that have killed several key Iranian leaders and officials.  

‘Most of the people we had in mind are dead,’ he told reporters at the White House. ‘And now we have another group, they may be dead also. Pretty soon we’re not going to know anybody.’

The strikes have fueled speculation that the Kurds could advance into Iran amid Israeli strikes in the western part of the country. 

‘It is the general view, and certainly (Israeli Prime Minister Benjamin) Netanyahu’s view, that the Kurds are going to come out of the woodwork … that they’re going to rise up,’ one official told Axios. 

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President Donald Trump argued that whether he carried out strikes against Iran wouldn’t have mattered to congressional Democrats. 

They would have criticized him either way.

Senate Minority Leader Chuck Schumer, D-N.Y., and his caucus immediately ramped up criticism of Trump’s Operation Epic Fury when the Senate returned Monday, and the administration has not yet signaled a clear exit strategy.

Speaking from the Oval Office Tuesday, Trump said Democrats would have criticized any decision he made.

‘If I didn’t do this, guys like Schumer who — losers, the Democrats, losers — guys like Schumer would say, ‘Well, you should have done this,’’ Trump said. ‘In other words, if I did it, it’s no good. If I didn’t do it, they would have said the opposite, that you should have done this.’

Democrats are furious that Trump did not seek approval from Congress to carry out the strikes and are pushing a war powers resolution vote this week to handcuff further use of the military in Iran.

‘Donald Trump has just launched America into a full-scale conflict against one of our most fervent adversaries,’ Schumer said on the Senate floor. ‘Without a plan, without an endgame and without authorization from Congress — or even a debate in full view of the American people.’

The administration argued after a closed-door classified briefing with congressional leaders and high-ranking lawmakers that the strikes were carried out as a preemptive measure.

Secretary of State Marco Rubio told reporters after the briefing, ‘We knew that there was going to be an Israeli action.

‘We knew that that would precipitate an attack against American forces,’ Rubio said. ‘And we knew that if we didn’t preemptively go after them before they launched those attacks, we would suffer higher casualties.’

But Democrats largely aren’t buying the administration’s argument. Sen. Mark Warner, D-Va., the top-ranking Democrat on the Senate Intelligence Committee, contended there wasn’t an imminent threat to the U.S. from Iran.

‘It was a threat to Israel,’ Warner said.

Senate Democrats plan to plow ahead with a war powers vote, likely Wednesday, led by Sen. Tim Kaine, D-Va., and backed by Schumer. Whether they can splinter off enough Republican support, as Kaine did earlier this year with his Venezuela war powers resolution, remains to be seen.

Trump argued that because Iran was ‘a purveyor of terror all over the world,’ Operation Epic Fury was inevitable.

‘It’s something that had to be done,’ Trump said.

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Rep. Nancy Mace, R-S.C., will force a high-profile vote later this week to require the release of sexual harassment reports involving members of Congress.  

Mace said Tuesday that her resolution was drafted in response to recent reports alleging that Rep. Tony Gonzales, R-Texas, sent sexually explicit text messages to a former staffer. Regina Santos-Aviles, the one-time aide, later died by suicide in September 2025.

‘I mean, literally, this girl killed herself in the most heinous way,’ Mace told Fox News Digital when asked if the Gonzales allegations were her motivation for the resolution. ‘She literally lit herself on fire and died, and we’re just going to sit here and say, ‘Let the process play out?’ No.’

Gonzales has denied the affair and suggested he is being blackmailed by the attorney of Santos-Aviles’ husband. 

‘What you have seen is not all the facts, and there’ll be ample time for all of that,’ Gonzales told reporters last week.

Mace’s resolution would specifically require the House Ethics Committee to publicly release all records regarding acts of sexual harassment involving lawmakers or their staffers within 60 days of enactment.

The South Carolina lawmaker said on the House floor that she will deem the resolution ‘privileged,’ meaning House leadership will have two legislative days to vote on the measure. Lawmakers could also vote to table the resolution or refer it to committee, a way to kill legislation before having to weigh the measure itself.

Mace said she expected a vote on the House floor by Thursday but voiced pessimism when asked by Fox News Digital if she thought the resolution would succeed.

‘No, I’m not optimistic about anything, especially when they just hide everything under the rug,’ Mace said. ‘And if you’re an outspoken woman like I am, well, they’re going to come for you.’

Mace is among a group of conservative lawmakers who have called on Gonzales to resign amid allegations he had an affair with his staffer.

Rep. Anna Paulina Luna, R-Fla., has called the allegations ‘really disgusting.’ Rep. Tim Burchett, R-Tenn., told reporters last week that Gonzales ‘needs to go.’

House Speaker Mike Johnson, R-La., has not made any push one way or the other, though he has called the allegations against the Texas lawmaker ‘very serious’ and ‘alarming and detestable.’ The speaker is wrestling with a razor-thin majority and can afford to lose just one defecting GOP lawmaker on party-line legislation.

The Office of Congressional Conduct is expected to send a report on Gonzales to the House ethics panel after the Texas primary elections Tuesday. Under House rules, reports on lawmakers cannot be released within 60 days of an election.

Gonzales is facing a primary challenge from his right flank, social media influencer Brandon Herrera, who is backed by the conservative House Freedom Caucus’ campaign arm. Herrera lost to Gonzales in 2024 by less than 400 votes.

Mace was one of four House Republicans to advocate for the release of files relating to the late convicted sex offender Jeffrey Epstein.

A request for comment to Gonzales’ office was not immediately returned.

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Hezbollah escalated its involvement in the widening conflict between Iran and the U.S. and Israel Tuesday, launching long-range missiles from Lebanon within 48 hours of coordinated strikes on Iran amid Operation Epic Fury.

The militant group also declared it was ready for an ‘open war,’ The Associated Press reported.

The Iranian-backed militant group fired rockets into northern Israel, prompting Israeli retaliation, according to The Times of Israel. Two were intercepted by air defenses, the military said.

‘Hezbollah is putting everything they have into the fight to add to the challenges Israel will face in this war,’ Ross Harrison, senior fellow at the Middle East Institute, told Fox News Digital.

‘But Hezbollah also knows that if the Iranian regime falls, they could be degraded,’ he said before highlighting that ‘Israel could not totally disarm Hezbollah.’

Hezbollah was formed in the early 1980s with Iranian backing during Lebanon’s civil war and has grown into Tehran’s most powerful proxy.

For decades, Iran has funded, armed and trained the group as part of its broader strategy to confront Israel and expand its regional influence.

‘Iran believes that it has to reestablish deterrence before the end of this war with the U.S. and Israel, so expanding it using Hezbollah and attacking Gulf Arab states and Cyprus is part of this,’ Harrison warned.

Israel responded to Hezbollah’s escalation with additional airstrikes on Beirut and expanded its ground operations, with the Israel Defense Forces (IDF) taking positions near the border.

The U.N. peacekeeping force in Lebanon reported seeing Israeli troops enter and exit Lebanese territory, though the IDF insisted its forces continue to operate there, according to The Associated Press.

The U.S. Embassy in Beirut also announced Tuesday that it would close until further notice in a post on X.

Israeli Defense Minister Israel Katz said, ‘To prevent the possibility of direct fire at Israeli communities, Prime Minister Benjamin Netanyahu and I have authorized the IDF to advance and hold additional dominant terrain in Lebanon and defend the border communities from there.

‘The IDF continues to operate forcefully against Hezbollah targets in Lebanon. The terrorist organization is paying and will pay a heavy price for the fire toward Israel.’

‘Hezbollah, this is an octopus. The head of the octopus is in Iran. The arms are all over the region,’ IDF spokesperson Effie Defrin told Fox News Digital.

‘Last night, they launched missiles into Haifa, into a city center in Israel. They started it, they knew the consequences of that.’

The IDF also announced that it had killed Daoud Ali Zadeh, commander of the Iranian Quds Force’s Lebanon Corps, in Tehran.

The Quds Force acts as a key liaison between Iran’s Islamic Revolutionary Guard Corps, or IRGC, and Hezbollah leadership, facilitating the transfer of advanced weaponry and enhancing proxy firepower.

‘The Quds Force is the arm of the Islamic Revolutionary Guard Corps, or IRGC, responsible for Iran’s relations with its allied militias, such as Hamas, Islamic Jihad, the Kata’ib Hezbollah in Iraq, Hezbollah in Lebanon and the Houthis in Yemen,’ Harrison clarified.

‘The Quds Force is the IRGC’s expeditionary force, designed to give Iran strategic depth,’ he said.

 ‘They are (or were) significant in managing Iran’s relations with shadowy militia organizations, and it has been challenged over the last couple of years as Hamas and Hezbollah have been degraded.’

On Saturday, the U.S.-Israeli airstrike campaign had also targeted Iranian leadership in Tehran, killing Iran’s Supreme Leader Ayatollah Ali Khamenei, dramatically escalating tensions across the Middle East and triggering regional retaliation.

An interim Leadership Council made up of President Masoud Pezeshkian, Chief Justice Gholam-Hossein Mohseni-Eje’i and Ayatollah Alireza Arafi is temporarily in charge of Iran, acting as the de facto head of state.

‘If Iran ends the war prematurely, then they believe the U.S. and Israel can come back later,’ Harrison said.

‘If they escalate, then they have a shot at recreating deterrence. It is a high risk, as it could bring them down. But the danger is they feel they have little choice, and Hezbollah is part of this for Iran.

‘If the Iranian regime can hang on, they win. That said, Iran cannot win militarily, but if they can deny the U.S. a victory, they win.

‘Fundamentally, the Iranian regime is trying to increase the pain of both Israel and the Gulf Arab states to be able to reestablish deterrence lost since the June 2025 war,’ Harrison added.

‘Attacking civilian areas and economic pain points alongside Hezbollah is also part of this strategy.’

Fox News’ Efrat Lachter contributed to this report.

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Hudbay Minerals (TSX:HBM,NYSE:HBM) is doubling down on Arizona, striking a deal to acquire Arizona Sonoran Copper Company in a transaction that would create North America’s third-largest copper district.

The deal gives Hudbay 100 percent ownership of the Cactus project in southern Arizona, adding it to the company’s existing Copper World development and establishing what the company describes as a major copper hub in the state.

Under the definitive arrangement agreement, Hudbay will acquire all outstanding shares of Arizona Sonoran that it does not already own in an all-share transaction. The offer represents a 30 percent premium to ASCU’s closing price that day and a 36 percent premium based on the companies’ 20-day volume-weighted average prices.

“The acquisition of ASCU is a highly compelling transaction that further enhances Hudbay’s copper growth platform in the US. Cactus is a high-quality, large-scale copper development asset in a mining jurisdiction that we know well,” CEO and President Peter Kukielski said in the company’s press release Monday (March 2).

“Together with the advancement of Copper World, this transaction creates one of the most significant copper districts in North America and reinforces Hudbay’s position as a premier copper growth company.”

Hudbay currently produces roughly 125,000 tons of copper annually. With Copper World and near-term optimization projects, the company sees a pathway to more than 250,000 tons per year by 2030.

The addition of Cactus offers potential to lift annual output beyond 350,000 tons, positioning Hudbay as a leading supplier of domestically refined US copper cathode.

Copper World is expected to produce about 92,000 tons of copper annually by 2030, while Cactus could add approximately 103,000 tons per year once developed.

Cactus hosts proven and probable reserves of 5.3 billion pounds of copper with expected annual production of 103,000 tons over a 20-year mine life. Copper World, meanwhile, contains 4.6 billion pounds of copper, with expected annual output of 93,000 tons over the same period.

Cactus sits on private land in Arizona and is fully permitted under a 2021 preliminary economic assessment, though amendments will be required for the 2025 prefeasibility study.

Together, the projects could create the second-largest US copper cathode district.

Hudbay also outlined several potential efficiencies, including redeploying the Copper World construction team to Cactus, using sulphuric acid produced at Copper World to leach oxide ore at Cactus, and achieving between US$5 million and US$10 million in annual corporate savings.

For Arizona Sonoran shareholders, the transaction offers an upfront premium while retaining exposure to Cactus through ownership in a larger, diversified producer.

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

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Prices for gold and silver spiked higher over the weekend and in early morning trading on Monday (March 2) as a full-blown war broke out in the Middle East.

Tensions between Iran on one side and the US and Israel on the other have been intensifying over the past few weeks.

On Sunday (February 28), the US and Israel launched Operation Epic Fury, a massive military campaign targeting multiple locations across Iran. The Trump administration has said the aim of the operation is eliminating Iran’s nuclear and missile capabilities, while also encouraging regime change.

The legality of the military action is being heavily debated as it was not approved by US Congress.

Iran’s supreme leader, Ayatollah Ali Khamenei, was killed in the initial strikes, along with dozens of other senior Iranian leaders. The conflict has since escalated into a large-scale regional war after Iran retaliated with missile strikes and drone attacks on US military bases and allied targets in Israel, the United Arab Emirates, Saudi Arabia, Qatar, Bahrain and Kuwait, where at least four US service members lost their lives.

The gold price responded quickly to the events, rallying to an intraday high of US$5,419.60 per ounce on Monday. Silver also benefited from a rush to safe-haven assets, surging to US$97.30 per ounce. By 12:00 p.m. PST, both metals had retreated, with gold back down to around the US$5,330 mark and silver trading at US$89.44.

How should investors react to price-spiking geopolitical events?

‘If we do see prices go nuts on that fear trade, that would probably fade. So don’t chase that,’ he said.

‘Maybe that’s not what everybody wants to hear. They want to hear, ‘Oh, it’s going to the moon.’ But experience suggests that geopolitical scares tend to produce short-term spikes,’ Tiggre added.

He also explained that the US and Israel’s military actions against Iran were not entirely unexpected and mostly already priced into the market. Hence, a return to the mean is expected.

Prior to this latest run in precious metals prices, gold was trading below the US$5,200 level, while silver was below US$90. The interest rate environment seems to be the chief factor capping gains for gold and silver.

What is giving gold upward support, according to Tran, is robust institutional demand.

“From a flow perspective, a notable signal comes from SPDR Gold Trust, which purchased nearly 19 tons over three consecutive sessions. The swift return of institutional inflows suggests that hedging demand remains intact,” she said.

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

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As Israel wages what it describes as an existential campaign against Iran, IDF spokesperson Brig. Gen. Effie Defrin said the war has reinforced a fundamental strategic shift in how Israel sees itself and its alliances, particularly with the United States and regional partners.

‘Israel was never part of this region. We thought we were part of Europe,’ he said. ‘Since the Abraham Accords started, we are having good relations with our neighbors. We are part of this region now.’

He described the 2020 agreements as transformative, building on the peace treaties with Egypt and Jordan. ‘The military cooperation is great. Some of the things are overt and some covert,’ Defrin said in his first English-language media interview since the beginning of the conflict. ‘Iran is a regional threat, and that is clear to everyone now.’

But he stressed the campaign against Tehran is not only regional.

‘It’s a worldwide problem, it’s a global problem, it’s a regional problem and it’s also an Israeli problem,’ he said. ‘They are not hitting only Israel.’

Months of Deception

The spokesperson revealed that the operation was preceded by months of strategic deception.

‘It was a strategic and operational deception,’ he said.

On the eve of the strike, senior officials deliberately maintained routine appearances.

‘Friday night we went to dinner at home. The chief of staff and I returned late in cars that were not our official vehicles. The official cars stayed at home, and we made sure that from satellite imagery it would not look like the Kirya (ministry of defense) was full while all the planes were armed and ready.’

He said Iran was caught off guard. ‘For many long months there was deception, so they were surprised. They fired what they had pre-planned in their preset response.’

‘A Mutual Operation’

The spokesperson said the strike that killed Iran’s Supreme Leader, Ali Khamenei, was carried out in coordination with the Trump administration. ‘It was a mutual operation,’ he said. ‘The cooperation between us and the American military is amazing. We have mutual planning and mutual executing for the plans in Iran and beyond.’

He framed the operation as part of unprecedented U.S.-Israeli military coordination. The entire operation in Iran is a mutual and coordinated campaign,’ he said.

He also described a broader international dimension. ‘It’s a problem with the United States of America as well,’ he said, citing attacks by Iranian-backed groups that have killed American service members and threatened shipping lanes.

‘They are posing a threat to the Red Sea… the movement of naval ships in the Suez Canal dropped by 90% since the Houthis started shooting at ships in the Bab al-Mandab Strait,’ he said. ‘It’s a global problem. It’s a terror regime. They are acting all over the world. And again, we had to act.’

He added that regional states increasingly understand the threat. ‘Israel is here to stay. You see the countries of the region placing their trust in Israel.’

Strike on Iranian Targets

Addressing reports that dozens of senior Iranian figures were eliminated in a strike on Tuesday, including claims that 88 members of Iran’s Assembly of Experts were killed, he dismissed the figures.

‘We struck a few targets involved in terrorism. We still don’t have any battle damage assessment. Once we have it, we will publish it. It’s too early.’

He emphasized that the targets were military. ‘We struck military targets,’ he said. ‘They are attacking population centers.’

According to the spokesperson, Israeli intelligence shows Iran is deliberately aiming at civilians ‘to exact a price,’ including launches toward civilian infrastructure.

War Aims

Explaining the decision to launch the campaign, the spokesperson described Iran as an imminent existential threat.

‘We didn’t have another choice, unfortunately. It’s an existential imminent threat. This is a terror regime,’ he said.

‘They declared it. Whatever they declared, they did.’

Asked whether regime change is an objective, he drew a distinction between military aims and political outcomes.

‘As a member of the military, I cannot say we have an aim to remove the regime,’ he said. ‘But definitely, we want to weaken it and create the conditions that one day this regime will be removed by its own people.’

As fighting expands to Lebanon following renewed Hezbollah fire, he reiterated Israel’s view of Iran as the head of a regional network.

‘Hezbollah is an octopus. The head of the octopus is in Iran.’

For Israel, he said, the campaign has clarified a strategic reality shaped by the Abraham Accords and deepened U.S. cooperation. ‘We are part of this region now.’

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Former President Bill Clinton and former Secretary of State Hillary Clinton gave very different responses to House lawmakers last week when asked whether President Donald Trump should testify in their Jeffrey Epstein probe, newly released video shows.

Both testified to the House Oversight Committee behind closed doors for hours in their hometown of Chappaqua, New York.

Each was also asked by the Democratic side whether Trump should come before the committee himself, given his own known past ties to the late financier and sex trafficker.

‘Absolutely,’ Hillary Clinton answered when the question was posed by Democrats’ staff.

She cited the civil case involving writer E. Jean Carroll in which Trump was found civilly liable for defaming Carroll over her allegations that he sexually assaulted her, as well as the 34-count criminal verdict by a New York City court related to allegations he sought to cover up payments to adult film star Stormy Daniels.

Trump has denied any wrongdoing in both cases.

Neither case relates to Epstein, but Hillary Clinton claimed it proved a ‘pattern’ of behavior that would be relevant to the committee’s probe.

‘I think that it would be in keeping with the scope of the investigation of this committee to set up a deposition with President Trump. I know he’s been deposed many, many, many times. He’s taken the Fifth Amendment many, many hundreds of times,’ she argued.

‘So I’m not saying you’re going to get a lot of information, but given what’s in the files, and given past and prior conduct, he would be on my witness list.’

Bill Clinton’s response was far more muted, however.

When asked by Rep. Robert Garcia, D-Calif., the committee’s top Democrat, whether Trump should be called in, the former president did not express support one way or another.

‘That’s for you to decide. But he did know him well, and I once had a brief discussion with him about it,’ Bill Clinton said.

Garcia attempted to move on to the next Democratic lawmaker before Bill Clinton cut in again, ‘I hate this, because I don’t believe I should inject anything, but I do not want to leave the impression, but since there was no follow-up question, he never — the president never, this is 20-something years ago, never said anything to me to make me think he was involved in anything improper with regard to Epstein, either.’

‘He just said, ‘We were friends. And then we had a falling out over a land deal, property deal.’ That’s all,’ Bill Clinton said.

He then said the conversation occurred on Trump’s golf course and that he ‘somehow’ knew that the former president had flown on Epstein’s plane.

‘And he said, you know, ‘We had some great times together over the years, but we fell out all because of a real estate deal.’ And he said, ‘I’m sorry it happened.’ That’s all,’ the former president said.

His deposition included far fewer dramatic moments on the whole than his wife’s, who was confronted by Rep. Nancy Mace, R-S.C., and others during multiple explosive points in her own deposition.

At one point, Hillary Clinton even temporarily stormed out of her seat after it was discovered that Rep. Lauren Boebert, R-Colo., had run afoul of the deposition’s rules by posting a photo of the former secretary of state.

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