Eagle, a next-generation nuclear energy company with rights to the largest open pit-constrained measured and indicated uranium deposit in the United States, and SVII, a special purpose acquisition company, today announced that the SEC has declared effective the Registration Statement, which includes a proxy statement/prospectus in connection with SVII’s Extraordinary General Meeting of Shareholders (the “Extraordinary General Meeting”) to approve the Proposed Business Combination. The Proposed Business Combination is expected to result in New Eagle listing its common stock and warrants on Nasdaq under the ticker symbols “NUCL” and “NUCLW,” respectively, subject to approval of its listing application. Additionally, SVII today announced that it has set a record date of January 5, 2026 (the “Record Date”) and meeting date of February 23, 2026 for the Extraordinary General Meeting.

• The U.S. Securities and Exchange Commission (“SEC”) has declared effective the registration statement on Form S-4 (File No. 333- 290631) (as amended, the “Registration Statement”) filed by Eagle Nuclear Energy Corp. (“New Eagle”) and co-registrant Eagle Energy Metals Corp. (“Eagle”)
• Extraordinary General Meeting of Shareholders of Spring Valley Acquisition Corp. II (OTC: SVIIF) (“SVII”) to approve proposed business combination with New Eagle and Eagle (the “Proposed Business Combination”) to be held on February 23, 2026
• Record date for the Extraordinary General Meeting is January 5, 2026
• Upon closing, combined company stock and warrants will trade on Nasdaq under “NUCL” and “NUCLW” ticker symbols

SVII’s shareholders of record at the close of business on the Record Date are entitled to receive notice of the Extraordinary General Meeting and to vote the ordinary shares of SVII owned by them at the Extraordinary General Meeting. The Extraordinary General Meeting will be held virtually and in-person at the offices of Greenberg Traurig, LLP, located at One Vanderbilt Ave, New York, NY 10017. In connection with the Extraordinary General Meeting, SVII’s shareholders that wish to exercise their redemption rights must do so no later than 5:00 p.m. Eastern Time on February 19, 2026 by following the procedures specified in the proxy statement/prospectus for the Extraordinary General Meeting. There is no requirement that shareholders affirmatively vote for or against the Proposed Business Combination at the Extraordinary General Meeting in order to redeem their shares for cash.

As announced previously, upon completion of the Proposed Business Combination, SVII and Eagle will each become a direct wholly-owned subsidiary of New Eagle, and New Eagle will become a publicly traded company, with its common stock and warrants expected to trade on the Nasdaq Capital Market under the ticker symbols “NUCL” and “NUCLW,” respectively, and SVII’s securities will no longer trade.

The Record Date determines the holders of SVII’s ordinary shares entitled to receive notice of and to vote at the Extraordinary General Meeting, and at any adjournment or postponement thereof, whereby shareholders will be asked to approve and adopt the Proposed Business Combination, and such other proposals as disclosed in the proxy statement included in the Registration Statement. If the Proposed Business Combination is approved by SVII shareholders, SVII anticipates closing the Proposed Business Combination shortly after the Extraordinary General Meeting, subject to the satisfaction or waiver (as applicable) of all other closing conditions.

The Extraordinary General Meeting will take place at 10:00 a.m., Eastern Time, on February 23, 2026 via a virtual meeting at the following address: https://www.cstproxy.com/svacii/2026 and in-person at the offices of Greenberg Traurig, LLP, located at One Vanderbilt Ave, New York, NY 10017. SVII shareholders entitled to vote at the Extraordinary General Meeting will need the 12-digit meeting control number that is printed on their respective proxy cards to participate in the virtual meeting. SVII recommends that its shareholders wishing to vote at the Extraordinary General Meeting log in at least 15 minutes before the Extraordinary General Meeting starts. SVII encourages its shareholders entitled to vote at the Extraordinary General Meeting to vote their shares via proxy in advance of the Extraordinary General Meeting by following the instructions on the proxy card.

About Eagle Energy Metals Corp.
Eagle Energy Metals Corp. is a next-generation nuclear energy company that combines domestic uranium exploration with proprietary Small Modular Reactor (SMR) technology. The Company holds the rights to the largest open pit-constrained, measured and indicated uranium deposit in the United States, located in southeastern Oregon. This includes the Aurora deposit, with 32.75Mlbs Indicated and 4.98Mlbs Inferred (SK-1300 TRS) of near-surface uranium resource, and the adjacent Cordex deposit, which offers significant potential to expand the project’s overall resource inventory. By integrating advanced SMR technology with a sizeable uranium asset, Eagle is building an integrated nuclear platform positioned to help restore American leadership in the global nuclear industry. For more information about Eagle Energy Metals Corp., visit www.eagleenergymetals.com.

About Spring Valley Acquisition Corp. II
Spring Valley Acquisition Corp. II (OTC: SVIIF, SVIRF, SVIUF, and SVIWF) is a part of a family of investment vehicles formed for the purpose of acquiring or merging with a business focused on the energy and decarbonization industries. SVII is led by Christopher D. Sorrells, Chief Executive Officer and Chairman, and Robert Kaplan, Chief Financial Officer and Head of Business Development. SVII’s board of directors includes Christopher D. Sorrells (Chairman), Sharon Youngblood, Rich Thompson, David Buzby, David Levinson, and Kevin Pohler. Its Sponsor group includes Pearl Energy; a $3.0 billion Texas-based firm focused on the North American energy sector. Spring Valley I successfully completed its business combination with NuScale Power, a leading U.S. small modular reactor (“SMR”) technology company in May 2022. SVII maintains a corporate website at https://sv-ac.com.

Additional Information and Where to Find It

In connection with the Proposed Business Combination, New Eagle filed with the SEC the Registration Statement, which includes a prospectus with respect to New Eagle’s securities to be issued in connection with the Proposed Business Combination and a proxy statement to be distributed to holders of SVII’s Class A Ordinary Shares in connection with SVII’s solicitation of proxies for the vote by SVII’s shareholders with respect to the Proposed Business Combination and other matters described in the Registration Statement (collectively, the “Proxy Statement”). The SEC declared the Registration Statement effective on January 30, 2026, and SVII has filed the definitive Proxy Statement with the SEC on February 2, 2026 and will be mailing copies to shareholders of SVII as of the Record Date. This press release does not contain all of the information that should be considered concerning the Proposed Business Combination and is not a substitute for the Registration Statement, the Proxy Statement or for any other document that SVII, New Eagle or Eagle may file with the SEC. Before making any investment or voting decision, investors and security holders of SVII, New Eagle and Eagle are urged to read the Registration Statement and the Proxy Statement, and any amendments or supplements thereto, as well as all other relevant materials filed or that will be filed with the SEC in connection with the Proposed Business Combination as they become available because they will contain important information about New Eagle, Eagle, SVII and the Proposed Business Combination. Investors and security holders will be able to obtain free copies of the Registration Statement, the Proxy Statement and all other relevant documents filed or that will be filed with the SEC by SVII, New Eagle or Eagle through the website maintained by the SEC at www.sec.gov. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release.

Participants in the Solicitation

New Eagle, Eagle, SVII and their respective directors, executive officers and other members of management and employees may, under the rules of the SEC, be deemed to be participants in the solicitations of proxies from SVII’s shareholders in connection with the Proposed Business Combination. For more information about the names, affiliations and interests of SVII’s directors and executive officers, please refer to SVII’s Annual Report on Form 10-K for the year ended December 31, 2024, which was filed with the SEC on April 11, 2025 (the “2024 Form 10-K”) and the Registration Statement, the Proxy Statement and other relevant materials filed or to be filed with the SEC in connection with the Proposed Business Combination when they become available. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, which may, in some cases, be different than those of SVII’s shareholders generally, are included in the Registration Statement and the Proxy Statement. Shareholders, potential investors and other interested persons should read the Registration Statement and the Proxy Statement, and any amendments or supplements thereto, carefully, before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above.

No Offer or Solicitation

This press release shall not constitute a “solicitation” as defined in Section 14 of the Exchange Act of 1934, as amended. This press release shall not constitute an offer to sell or exchange, the solicitation of an offer to buy or a recommendation to purchase, any securities, or a solicitation of any vote, consent or approval, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation or sale may be unlawful under the laws of such jurisdiction. No offering of securities in the Proposed Business Combination shall be made except by means of a prospectus meeting the requirements of the Securities Act or an exemption therefrom.

Cautionary Note Regarding Forward-Looking Statements

Certain statements included in this press release are not historical facts but are forward-looking statements. All statements other than statements of historical facts contained in this press release are forward-looking statements. Any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are also forward-looking statements. In some cases, you can identify forward-looking statements by words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “strategy,” “future,” “opportunity,” “may,” “target,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” “preliminary,” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements include, without limitation, SVII’s, New Eagle’s, Eagle’s, or their respective management teams’ expectations concerning the Proposed Business Combination and expected benefits thereof; the outlook for Eagle’s or New Eagle’s business; the abilities to execute Eagle’s or New Eagle’s strategies; projected and estimated financial performance; anticipated industry trends; the future price of minerals; future capital expenditures; success of exploration activities; mining or processing issues; government regulation of mining operations; and environmental risks; as well as any information concerning possible or assumed future results of operations of Eagle or New Eagle. The forward-looking statements are based on the current expectations of the respective management teams of Eagle, New Eagle, and SVII, as applicable, and are inherently subject to uncertainties and changes in circumstance and their potential effects. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, (i) the risk that the Proposed Business Combination may not be completed in a timely manner or at all, which may adversely affect the price of SVII’s securities; (ii) the risk that the Proposed Business Combination may not be completed by SVII’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by SVII; (iii) the failure to satisfy the conditions to the consummation of the Proposed Business Combination, including the approval of the related merger agreement (the “Merger Agreement”) by the shareholders of SVII and the receipt of regulatory approvals; (iv) market risks; (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement; (vi) the effect of the announcement or pendency of the Proposed Business Combination on Eagle’s business relationships, performance, and business generally; (vii) risks that the Proposed Business Combination disrupts current plans of Eagle and potential difficulties in its employee retention as a result of the Proposed Business Combination; (viii) the outcome of any legal proceedings that may be instituted against Eagle or SVII related to the Merger Agreement or the Proposed Business Combination; (ix) failure to realize the anticipated benefits of the Proposed Business Combination; (x) the inability to meet listing requirements and maintain the listing of the combined company’s securities on Nasdaq Capital Market or a comparable exchange; (xi) the risk that the price of the combined company’s securities may be volatile due to a variety of factors, including changes in laws, regulations, technologies, natural disasters or health epidemics/pandemics, national security tensions, and macro- economic and social environments affecting its business; (xii) fluctuations in spot and forward markets for lithium and uranium and certain other commodities (such as natural gas, fuel oil and electricity); (xiii) restrictions on mining in the jurisdictions in which Eagle operates; (xiv) laws and regulations governing Eagle’s operation, exploration and development activities, and changes in such laws and regulations; (xv) Eagle’s ability to obtain or renew the licenses and permits necessary for the operation and expansion of its existing operations and for the development, construction and commencement of new operations; (xvi) risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, potential unintended releases of contaminants, industrial accidents, unusual or unexpected geological or structural formations, pressures, cave-ins and flooding); (xvii) inherent risks associated with tailings facilities and heap leach operations, including failure or leakages; the speculative nature of mineral exploration and development; the inability to determine, with certainty, production and cost estimates; inadequate or unreliable infrastructure (such as roads, bridges, power sources and water supplies); (xviii) environmental regulations and legislation; (xix) the effects of climate change, extreme weather events, water scarcity, and seismic events, and the effectiveness of strategies to deal with these issues; (xx) risks relating to Eagle’s exploration operations; (xxi) fluctuations in currency markets; (xxii) the volatility of the metals markets, and its potential to impact Eagle’s ability to meet its financial obligations; (xxiii) disputes as to the validity of mining or exploration titles or claims or rights, which constitute most of Eagle’s property holdings; (xxiv) Eagle’s ability to complete and successfully integrate acquisitions; (xxv) increased competition in the mining industry for properties and equipment; (xxvi) limited supply of materials and supply chain disruptions; (xxvii) relations with and claims by indigenous populations; (xxviii) relations with and claims by local communities and non-governmental organizations; and (xxix) the risk that the Series A Preferred Stock Investment may not be completed, or that other capital needed by the combined company may not be raised on favorable terms, or at all. The foregoing list is not exhaustive, and there may be additional risks that neither SVII, Eagle, nor New Eagle presently know or that SVII, Eagle, and New Eagle currently believe are immaterial. You should carefully consider the foregoing factors, any other factors discussed in this press release and the other risks and uncertainties described in the “Risk Factors” section of the 2024 Form 10-K, the risks described or to be described in the Registration Statement, the Proxy Statement, and any amendments or supplements thereto, and those discussed and identified in filings made with the SEC by SVII, New Eagle or Eagle from time to time. Eagle, New Eagle, and SVII caution you against placing undue reliance on forward-looking statements, which reflect current beliefs and are based on information currently available as of the date a forward-looking statement is made. Forward-looking statements set forth in this press release speak only as of the date of this press release. Neither Eagle, SVII, nor New Eagle undertakes any obligation to revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs. In the event that any forward-looking statement is updated, no inference should be made that New Eagle, Eagle or SVII will make additional updates with respect to that statement, related matters, or any other forward-looking statements. Any corrections or revisions and other important assumptions and factors that could cause actual results to differ materially from forward-looking statements, including discussions of significant risk factors, may appear, up to the consummation of the Proposed Business Combination, in SVII’s public filings with the SEC, which are or will be (as appropriate) accessible at www.sec.gov, and which you are advised to review carefully.

Investor Relations Contact:

775-335-2029
info@eagleenergymetals.com

Media Relations Contact:

Gateway Group
Zach Kadletz, Brenlyn Motlagh
949-574-3860
EAGLE@Gateway-grp.com

Source

Gold streaming took center stage at the Vancouver Resource Investment Conference last week as Randy Smallwood, president and CEO of Wheaton Precious Metals (TSX:WPM,NYSE:WPM), laid out why the model is drawing renewed investor attention amid today’s high gold and silver prices.

Speaking during a fireside chat, Smallwood positioned streaming as a lower-risk way for investors to gain exposure to precious metals at a time when rising commodities prices are amplifying cost pressures across the mining sector.

“From the investor’s perspective, streaming is a much lower-risk way of investing into the precious metal space,” he said.

Under a streaming agreement, companies like Wheaton provide upfront capital to mining operators in exchange for a percentage of future metal production, typically at a fixed cost per ounce. That structure, he said, shields streamers from many of the operational risks that weigh on traditional miners.

“One of the biggest failures in the mining industry is cost delivery — capital cost and operating cost,” Smallwood said. “When you’re investing into a streaming company, you take that risk out. Our costs are all defined in the contract.”

At current prices, that distinction has become more pronounced. Gold has been trading above US$5,000 per ounce, while silver recently pushed past US$100, levels that have reignited investor interest but also raised concerns about inflation in mining costs.

Smallwood said Wheaton’s model allows it to maintain high margins even in a higher-price environment, noting that the company’s average production payment last year was “probably $500 per gold equivalent ounce.”

“It’s a very good time to be in a streaming business,” he said.

Wheaton in particular is coming off a strong 2025. Smallwood said the company expects 2025 production to come in near the top of its previously guided range of 600,000 to 670,000 gold equivalent ounces, with cash costs slightly below US$500 per ounce. Updated guidance is expected mid-February.

The company has also been active on the deal front. In 2025, Wheaton committed roughly US$1 billion across several transactions, including investments in the Spring Valley project in Nevada and the Hemlo gold mine in Ontario.

The Hemlo transaction, finalized in November, illustrates how streaming fits into broader mine recapitalizations. As Barrick Mining (TSX:ABX,NYSE:B) exited the asset, Wheaton closed a previously announced gold stream with the mine’s new owner, providing US$300 million in upfront funding as part of a larger financing package.

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

Tungsten West (LON:TUN), the mining company focused on restarting production at the Hemerdon tungsten and tin mine (‘Hemerdon’ or the ‘Project’) in Devon, UK, is pleased to provide an update on its Project Financing initiatives and operational activities, against the backdrop of favourable market conditions for the Company’s primary commodities.

Highlights

• Debt funding progressing well, with a number of potential lenders advanced into term sheet stage
• Long-lead orders for key equipment and detailed engineering work advanced
• Onboarding of key Project resources to commence the refurbishment and start-up process
• Multiple offtake term sheets and letters of intent being progressed
• Uplift in Project economics calculated using recent tungsten and tin market pricing:
  • The Project’s forecast Net Present Value 7.5% (‘NPV’) increases from US$190 million to US$1.7 billion
  • The Project’s Internal Rate of Return (‘IRR’) increases from 29% to 197%
  • Near term EBITDA estimates increase over fourfold
• Publication of updated Corporate Presentation

Jeff Court, CEO of Tungsten West, commented:

‘The structural shift in the tungsten market that we have seen since the end of 2024 reflects the ever growing need to provide critical mineral diversification and supply chain resilience to Western economies. The Project Updated Feasibility Study released in August 2025 demonstrated solid financial returns from the Company’s approach to restarting activities at Hemerdon with a greatly improved and robust mineral process flow sheet, plant modifications and access to high quality ore in the pre-existing open pit mine. In the relatively short time since releasing the Updated Feasibility Study, tungsten prices have increased over 200% and tin prices over 70%. As the Company is fully leveraged to market prices, the Project’s economics have vastly improved, underlining the importance of advancing the Project rapidly.

‘To this end, in addition to the well-advanced Project Financing, we have accelerated Project re-commissioning work, including ordering long-lead items and engaging key project resources for the refurbishment works. This work programme will have the Company producing tungsten concentrate within 12 months of funding. I look forward to further updating shareholders on our progress across these areas in due course.’

Project Financing update

Debt funding is progressing well, with a number of potential lenders advanced into term sheet stage. These are in addition to the Expression of Interest from the US EXIM bank previously announced on 28 August 2025. Timelines for these work streams are aligned with the Project Financing requirements. The Company will update the market on developments before the end of Q1 2026.

Operational activities

In parallel with ongoing Project Financing, Tungsten West is continuing momentum on workstreams required for project recommissioning. The Company has progressed long-lead orders for key equipment, detailed engineering work, and has begun on-boarding key Project resources to commence the refurbishment and start-up process whilst simultaneously advancing the operational pre-conditions required to recommence operations.

The Company’s efforts have been bolstered by buoyant tungsten and tin markets, which have further brought into focus Tungsten West’s ability to bring online a globally significant, fully permitted, shovel ready tungsten and tin resource, with high production levels forecasted for both critical minerals. Tungsten West is well positioned to capitalise on a relatively low capital cost and a short lead time to commercial production of less than 12 months from the commencement of construction. Commissioning activities and preliminary concentrate generation are targeted to begin within nine months of concluding Project Financing.

Further to this, the Company has progressed multiple offtake term sheets and letters of intent, in addition to holding advanced stage negotiations in relation to offtake agreements, accounting for over 300% of the Company’s peak production levels for tungsten concentrate.

Project economics update

Current market conditions have had a very favourable impact on the Project’s economics. The Company’s Feasibility Study released on 5 August 2025 was based on the market pricing of tungsten (APT) of US$400/mtu and tin at US$32,500/t. The prevailing market prices as of 28 January 2026 were US$1,313/mtu for APT and US$55,953/t for tin. The impact of this on the Project economics are summarised below:

• The Project’s forecast NPV7.5% increases from US$190 million to US$1.7 billion;
• The Project’s IRR increases from 29% to 197%; and
• Near term EBITDA estimates increase over fourfold

Corporate Presentation

The Company has updated its Corporate Presentation, including the updated Project economics for both the long-range commodity price forecasts and current spot levels, which is significant for Hemerdon given the rapid restart timeline that can be achieved post concluding the Project Financing process. The updated Corporate Presentation can be viewed here: https://www.tungstenwest.com/

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014 as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019.

Ends

For further information, please contact:

Enquiries

Follow us on X @TungstenWest

Source

BP Silver Corp. (TSXV: BPAG) (‘BP Silver‘ or the ‘Company‘) announces assay results (‘Assays‘) from the first two drill holes of its eleven-hole Phase I drill program (the ‘Program‘) at the Cosuño Silver Project (‘Cosuño‘) in Bolivia. The Company expects to release assays from the remaining nine drill holes over the coming weeks. The Company also announces that Dr. Mark Cruise, has been appointed as the Company’s Executive Chair.

Dr. Stewart D. Redwood, Director and Qualifying Person stated, ‘Cosuño is a 10.5 square kilometer zone of alteration. The Program tested only four targets in the southern portion of Cosuño, selected as initial targets because they were outcropping. We expect there to be many more hidden targets as most of the area is covered by surficial overburden. We are literally scraping the surface with two short holes into this extensive system, and it is very significant that Cosuño’s lithocap is mineralized as lithocaps are usually barren.’

Dr. Redwood continued, ‘We expect Cosuño’s grades to increase when we drill deeper into and below the lithocap. Lithocaps are extensive zones of clay and silica alteration that form in the top part of Bolivian polymetallic vein systems and tin porphyries, similar to those which overlie porphyry copper deposits. The nearest neighbour to Cosuño, in a similar geological setting, the Pulacayo deposit, has a large lithocap that is barren and conceals a major vein that produced 640 million ounces of silver and 200,000 tons each of lead and zinc.’

Key Highlights from Cosuño’s Initial Results

Assays released are from the first two drill holes, Hole CO-0001 and CO-0002, which tested one of four initial surface targets identified within the large ~10.5km2 Cosuño hydrothermal system (Table 1 & Figure 1). The assays demonstrate that silver and gold mineralization identified at surface continues at depth within the lithocap. The results are significant because mineralized Lithocap’s are usually barren in similar Bolivian systems, indicating Cosuño’s potential for further discoveries at depth and in covered areas.

Table 1: Significant drill intersections in DDH CO-0001 and CO-0002.

Notes to the table:

1. Silver equivalent (AgEq) = Ag + (Au * Au price/ Ag price). Assumes a recovery of 100% Ag and 100% Au given the project is early stage and there is no metallurgical test work to date.
2. Prices used Au $3431.54/oz, Ag $40.03/oz (London Bullion Market Association 2025 Average)
3. Above are core lengths as true widths are not known at this time.

Dr. Redwood commented, ‘The gold grades are higher than expected and over significant widths in the Jalsuri target. These results have achieved one of the objectives of the Phase I drill program which was to confirm that the silver anomalies defined by surface rock sampling continue at depth.’

Cosuño Drill Program Overview

The Program tested four high priority targets defined by structurally controlled, outcropping geochemically anomalous to highly anomalous silver-rich polymetallic zones characterized by silicification, intermediate to advanced argillic alteration, sulfides and brecciation: features typical of many significant Bolivian silver deposits. The targets occur within a large ~10.5 km² hydrothermal alteration system as defined by detailed mapping, geochemical sampling and remote sensing alteration studies.

Figures and additional geological background from the initial program can be found in the Company’s October 21, 2025, and November 14, 2025, news releases. Additional results from remaining nine holes will be released once received by assay labs over the coming weeks.

Detail

This marks the first drill program completed within the Cosuño Lithocap: Holes CO-0001 and CO-0002 were drilled in the Jalsuri target, a northwest-southeast trending ridge formed by a prominent mineralised structure (Figure 1 and 2).

CO-0001 (Easting 747065 Northing 7762846) was drilled at an inclination of -45° and direction of 235° to a depth of 101.0 m. CO-0002 (Easting 747063 Northing 7762848) was drilled from the same platform at an inclination of -45° to an azimuth of 175° to a depth of 107.0 m (Table 1, Figure 1 & 2). Both holes cut tuffs with hydrothermal breccias, advanced argillic and argillic alteration, strong silicification, and semi-massive pyrite, all cut by late drusy veinlets of quartz, pyrite, tetrahedrite and silver sulphosalts (Figures 3 to 4).

Figure 1: Summary geological map showing surface geochemistry, initial priority targets and drillhole collar locations – Cosuño Silver Project, Bolivia.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11890/282337_1e8279b0d4637b0c_003full.jpg

Figure 2: Jalsuri Target Cross Section illustrating surface geochemistry, hole CO-0001 trace, mineralization, alteration and geology.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11890/282337_1e8279b0d4637b0c_004full.jpg

Figure 3: Hole CO-0001: Hydrothermal / crackle breccia, intense advanced argillic alteration with pyrite, sulfosalts and sulfides, quartz-alunite-dickite Veinlets, open space with druzy quartz.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11890/282337_1e8279b0d4637b0c_005full.jpg

Figure 4A (Left photo): Hole CO-0001: 49.70m, Polymictic breccia matrix supported pervasive silicification with disseminated sulfosalts, local vuggy silica and quartz-alunite-dickite. Figure 4B (Right Photo): Hole CO-0002: At 60m.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11890/282337_figure4.jpg

Executive Chair Appointment

The Company also announces that Dr. Mark Cruise, previously an independent director of BP Silver, has been appointed as the Company’s Executive Chair, effective February 2, 2026.

Dr. Cruise brings over 30 years of global mining experience from early-stage exploration to production in the base, precious metal and critical mineral industries. His expertise encompasses technical strategy, capital markets (raising over $1B), merger & acquisitions and advanced stakeholder negotiations. He has co-founded and led several billion-dollar exploration and mining companies, and most recently served as COO and CEO of New Pacific Metals, who are developing two silver deposits exceeding 200 million ounces each in Bolivia.

Investor Relations Partnership

BP Silver also announces effective February 1, 2026, it has engaged Adelaide Capital (‘Adelaide‘), a leading investor relations and capital markets advisory firm, to provide investor relations and consulting services to the Company.

Adelaide is a full-service investor relations firm that brings a unique and powerful perspective and a re-engineered investor relations business model. Adelaide will work closely with BP Silver to develop and deploy a comprehensive capital markets program, which includes assisting with non-deal road shows, virtual campaigns, social media, conferences and assisting with investor communication. In exchange for Adelaide’s services, and pursuant to an investor relations consulting agreement (the ‘IRA‘), the Company has agreed to pay a monthly fee of C$10,000 for a three-month term. Adelaide is an arm’s length company based in Toronto, Ontario. As of the date hereof, Adelaide does not have any interest, directly or indirectly, in the Company or its securities except for being previously granted 50,000 options of the Company. The IRA is subject to approval by the TSX Venture Exchange.

Qualified Person

The technical information contained in this news release has been reviewed and approved by Dr. Stewart D. Redwood, PhD, FIMMM, a Director of the Company and a Qualified Person as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects. As Dr. Redwood is a director of the Company, he is not independent under National Instrument 43-101.

Mineralization at the Pulacayo deposit is not necessarily indicative of mineralization at the Cosuño Project. Information on production from the Pulacayo deposit was obtained SERGEOMIN, Bulletin of the National Service of Geology and Mining, No. 30, pp. 119-120.

QA/QC

The work program was designed and supervised by Gonzalo Lemuz, P.Geo, the Company’s Chief Operating Officer, who was responsible for all aspects of the work, including the Quality Assurance and Quality Control (QA/QC) program. On-site personnel at the Project rigorously collect and track samples which are then security sealed and shipped to ALS laboratory in Oruro for sample preparation. The core samples were prepared by ALS at their laboratory in Oruro, Bolivia and the sample pulps were shipped to their laboratory in El Callao, Peru for analysis. ALS is accredited to ISO/IEC 17025:2017 and ISO9001:2015. ALS is independent of BP Silver. Silver and multi-elements were analysed by aqua regia digestion and ICP-MS finish. Gold was analysed by fire assay and AA finish. BPAG inserted certified standard reference materials (CSRM), blanks and duplicates to monitor QAQC. All diamond drill holes were drilled in HQ diameter. The average core recovery was 97.5% for CO-0001 and 95% for CO-0002.

About BP Silver Corp.

BP Silver Corp. is a Canadian exploration company focused on advancing high-grade silver projects in Bolivia. The Company’s flagship asset, the Cosuño Project, is strategically located in the prolific Bolivian silver belt, a region with a rich mining history and significant untapped discovery potential. With a strong technical team and a disciplined exploration strategy, BP Silver is positioned to unlock value for its shareholders through the discovery and development of major silver deposits.

For further information please contact:

Tim Shearcroft, Chief Executive Officer
604-307-7032
Info@BPSilverCorp.com

Cautionary Statement Regarding Forward-Looking Information:

Information set forth in this news release contains forward-looking statements. These statements reflect management’s current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: future prices and the supply of silver and other precious and other metals; future demand for silver and other valuable metals; inability to raise the money necessary to incur the expenditures required to retain and advance the property; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; results of exploration programs; risks of the mineral exploration industry; delays in obtaining governmental approvals; and failure to obtain necessary regulatory or shareholder approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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

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Gold streaming took center stage at the Vancouver Resource Investment Conference (VRIC) last week as Randy Smallwood, president and chief executive officer of Wheaton Precious Metals (TSX:WPM,NYSE:WPM)s, laid out why the model is drawing renewed investor attention amid record gold and silver prices.

Speaking during a fireside chat at the conference, Smallwood positioned streaming as a lower-risk way for investors to gain exposure to precious metals at a time when rising commodity prices are amplifying cost pressures across the mining sector.

“From the investor’s perspective, streaming is a much lower risk way of investing into the precious metal space,” Smallwood said.

Under a streaming agreement, companies like Wheaton provide upfront capital to mining operators in exchange for a percentage of future metal production, typically at a fixed cost per ounce. That structure, he said, shields streamers from many of the operational risks that weigh on traditional miners.

“One of the biggest failures in the mining industry is cost delivery—capital cost and operating cost,” Smallwood said. “When you’re investing into a streaming company, you take that risk out. Our costs are all defined in the contract.”

At current prices, that distinction has become more pronounced. Gold has been trading above US$5,000 per ounce, while silver recently pushed past US$100, levels that have reignited investor interest but also raised concerns about inflation in mining costs.

Smallwood said Wheaton’s model allows it to maintain high margins even in a higher-price environment, noting that the company’s average production payment last year was “probably $500 per gold equivalent ounce.”

“It’s a very good time to be in a streaming business,” he said.

Wheaton in particular is coming off a strong 2025. Smallwood said the company expects 2025 production to come in near the top of its previously guided range of 600,000 to 670,000 gold equivalent ounces, with cash costs slightly below US$500 per ounce. Updated guidance is expected mid-February.

The company has also been active on the deal front. In 2025, Wheaton committed roughly US$1 billion across several transactions, including investments in the Spring Valley project in Nevada and the Hemlo gold mine in Ontario.

The Hemlo transaction, finalized in November, illustrates how streaming fits into broader mine recapitalizations. As Barrick Mining (TSX:ABX,NYSE:B) exited the asset, Wheaton closed a previously announced gold stream with the mine’s new owner, providing US$300 million in upfront funding as part of a larger financing package.

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

Here’s a quick recap of the crypto landscape for Monday (February 2) as of 9:00 a.m. UTC.

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

Bitcoin price performance, February 2, 2025.

Chart via TradingView

Bitcoin slid to its lowest level since April last year over the weekend, briefly touching the US$74,000 mark. The drop capped Bitcoin’s fourth consecutive monthly decline and its longest losing streak in seven years.

“The crypto market is currently suffering from panic among speculative participants,” said Samer Hasn, senior market analyst at XS.com, pointing to a steep contraction in derivatives activity and persistent outflows from spot Bitcoin exchange-traded funds.

According to CoinGlass data, total crypto futures open interest has fallen to US$109 billion, down 53 percent from its all-time high, while Bitcoin futures open interest alone has declined 44 percent from peak levels.

Geopolitical uncertainty has added another layer of strain. “Concerns surrounding the situation with Iran were the main news factor weighing on the market,” said Vasily Shilov, chief business development officer at SwapSpace. Shilov noted that heightened geopolitical rhetoric, combined with trade threats and the Federal Reserve’s decision to keep rates unchanged, has pushed investors toward liquid assets and away from higher-risk exposure.

Some analysts caution that bearish sentiment may persist into the first half of the year. Ray Youssef, chief executive officer of NoOnes, said capital outflows into precious metals and uncertainty around US fiscal policy have tilted market dynamics firmly in favor of sellers.

While Bitcoin found temporary support near US$75,000, Youssef said the US$73,000 level is now critical, with a sustained break potentially accelerating losses. Investors now look towards upcoming developments on US economic data and the Congress’ direction on crypto policy as signals on whether the current drawdown marks another stress test or the start of a deeper bear phase.

Ether (ETH) was priced at US$2,248.63, down by 3.3 percent over the last 24 hours.

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

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

(TheNewswire)

 

February2, 2026 TheNewswire – Vancouver, British Columbia, Canada – JZR Gold Inc. (the ‘Company’ or ‘JZR’) (TSX-V: JZR) today provides a review of key operational and corporate progress achieved during 2025, while outlining expectations for 2026 as the Company works with its partners toward revenue generation and cash flow from its interest in the Vila Nova Gold Project (the ‘Project’ or ‘Vila Nova Project’) in Brazil.

 

2025 Highlights

• Advanced the Vila Nova Gold Project to production, successful installment of a gravimetric which led the production of gold concentrate. 

 

2025 Vila Nova Activity Update

 

Over the past year, JZR focused on disciplined execution and working diligently with ECO Mining Oil & Gaz Drilling Exploration (EIRELI) (‘ECO‘), the operator of the Vila Nova Gold Project located in the State of Amapa, Brazil.  The Company’s and ECO’s combined efforts resulted in the Vila Nova Gold Project receiving all required approvals to bring the Project closer to production.  The Company possesses a 50% Net Profit Interest (as defined in a Joint Venture Royalty Agreement (‘JVRA‘) with ECO) from all Net Profit (as defined in the JVRA) generated from the Vila Nova Gold Project.  In October 2025, the Company was advised that ECO completed commissioning and testing of the 800 tonnes-per-day gravimetric mill and produced the project’s first gold concentrate.

 

Throughout 2025, ECO advanced the facility toward steady-state operations by hiring and training personnel, replacing and upgrading several components, and optimizing plant performance. Following initial concentrate production, material has been stockpiled on site while the operation focused on processing higher-grade material once operational consistency has been achieved. The Company has been advised that two potential buyers of gold concentrate have since visited the site to review the facility and operations, and concentrate samples have been submitted for independent analysis, with results expected in the near term.

 

‘These steps were not isolated milestones,’ said Robert Klenk, Chief Executive Officer of JZR Gold. ‘They reflect a methodical progression toward sustainable operations by ECO. The focus throughout 2025 was ensuring that ECO was able to secure the necessary permits, and to ensure that the plant, people, and processes were in place to support anticipated long-term production by ECO.’

 

In parallel with operational advancement, JZR strengthened its financial position. In October 2025, the Company received $1.6 million in proceeds from the full exercise of outstanding warrants, providing additional working capital flexibility while limiting shareholder dilution.

 

Looking ahead, management expects 2026 to represent a transformational year. ECO is working toward fully ramping the Vila Nova facility to its designed capacity of 800 tonnes per day, positioning the Project to generate gold concentrate sales, revenue, and cash flow. Under the JVRA, JZR earned a 50% interest in 2023 in the Project by making certain payments to ECO totaling US$6,000,000, which funded 100% of the purchase and installation of the processing plant and mill. Once revenue is generated by ECO, as anticipated, JZR is to be repaid for those capital contributions while retaining its 50% Net Profit Interest.

 

Importantly, the Vila Nova Project stands apart in an increasingly scrutinized regulatory environment, underscoring the value of JZR and ECO’s long-standing commitment to operating a fully licensed and permitted project at both the state and federal levels. ‘As governments increase oversight, compliant projects with established permits and infrastructure become increasingly valuable,’ Klenk added. ‘We believe Vila Nova is well-positioned in that regard, and we are proud of the responsible framework under which the project has been developed.’

 

With operational readiness largely established, financing risk reduced, and regulatory clarity in place, JZR enters 2026 with a clear objective: to transition from an issuer with an interest in non-revenue exploration assets to a revenue-generating royalty holder with cash flow. Management believes the groundwork laid over the past year has positioned the Company to pursue that goal with discipline and confidence.

 

Marketing Agreement with AllPennyStocks.com Media Inc.

The Company is pleased to announce it has entered into a marketing agreement with AllPennyStocks.com Media Inc. (‘APS‘), subject to TSXV approval.

 

Pursuant to its agreement with APS (the ‘APS Agreement‘), APS will provide investor relations and marketing services to the Company over an initial term of eight (8) months, commencing February 3, 2026, in consideration of an aggregate of US$67,500.00. APS will work with the Company to develop and release a series of media syndication articles through an expanded distribution circuit designed to increase investor awareness of the Company. APS is based in Mississauga; Ontario based and operates the website https://www.allpennystocks.com/. Neither APS, nor any of its respective directors or officers own any securities of the Company or any right to acquire securities of the Company. APS is an arm’s length party to the Company.

 

APS, founded in 1999, is a leading authority in the micro-cap space, with its content prominently featured across numerous top-tier financial platforms, reaching a broad audience of investors and industry professionals.

 

Results of 2025 Annual General and Special Shareholder’s Meeting

 

The Company is also pleased to announce the results of its 2025 Annual General and Special Meeting (‘AGM‘) of shareholders held on Wednesday, December 31, 2025. Shareholders approved all the resolutions detailed in the management information circular of the Company (the ‘Circular‘), including:

 

• Electing all of management’s nominees to the Board of Directors of the Company. 

• Approving and reconfirming the Equity Incentive Plan for the Company. 

 

A total of 29,848,272 common shares of the Company were voted at the AGM, representing approximately 38.32% of the issued and outstanding common shares of the Company.

 

About JZR Gold Inc.

 

JZR Gold Inc is a junior mining resource company listed on the TSX Venture Exchange. It is engaged in the business of the exploration and development of mineral properties. The Company holds interests in the Province of British Columbia, Canada and the State of Amapá, Brazil. The Spider mine in B.C. are gold and silver exploration targets. The Company’s flagship exploration interest is the Vila Nova Gold Project, which is currently in the development stage.

 

For more information, please visit our website at www.jzrgold.com.

 

For further information, please contact:

 

Robert Klenk

Chief Executive Officer

E: rob@jazzresources.ca
T: 604.329.9092

 

Forward-Looking Statements

 

This news release contains forward-looking statements, which includes any information about activities, events or developments that the Company believes, expects or anticipates will or may occur in the future.  Forward-looking statements in this news release include statements with respect to the expected processing of high-grade material from the Project and subsequent sales of product derived therefrom, statements regarding the Company’s transition to a revenue-generating issuer with cash flow, statements regarding the services to be provided by APS and statements with respect to the anticipated use of proceeds from the exercise of the Warrants.  Forward-looking information reflects the expectations or beliefs of management of the Company based on information currently available to it.  Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information.  These factors include, but are not limited to: risks associated with the business of the Company; business and economic conditions in the mineral exploration industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks related to inaccurate geological and engineering assumptions; risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with the specifications or expectations, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action and unanticipated events related to health, safety and environmental matters); risks related to adverse weather conditions; geopolitical risk and social unrest; changes in general economic conditions or conditions in the financial markets; and other risk factors as detailed from time to time in the Company’s continuous disclosure documents filed with the Canadian securities regulators.  The forward-looking information contained in this press release is expressly qualified in its entirety by this cautionary statement.  The Company does not undertake to update any forward-looking information, except as required by applicable securities laws.

 

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

 

None of the securities of JZR have been registered under the U.S. Securities Act of 1933, as amended (the ‘U.S. Securities Act’), or any state securities law, and may not be offered or sold in the United States or to, or for the account or benefit of, persons in the United States or ‘U.S. persons’ (as such term is defined in Regulation S under the U.S. Securities Act) absent registration or an exemption from such registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy in the United States nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

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