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‘Bond villain’: Newsom roasted as photo of him posing with ‘sugar daddy’ Alex Soros goes viral

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California Gov. Gavin Newsom and the Trump administration have been at each other’s throats on the sidelines of the World Economic Forum in Davos this week, during which Newsom was mocked for cozying up to ‘billionaire sugar daddy’ Alex Soros after the California governor accused world leaders of kowtowing to President Donald Trump. 

Newsom attended the conference this week and slammed foreign world leaders for ‘rolling over’ when confronted by President Donald Trump, but Newsom was criticized himself this week for cozying up to Alexander Soros, the son of billionaire philanthropist George Soros, while in Davos. 

‘Governor Newsom, who strikes me as Patrick Bateman meets Sparkle Beach Ken, may be the only Californian who knows less about economics than Kamala Harris. He’s here this week with his billionaire sugar daddy, Alex Soros, and Davos is the perfect place for a man who, when everyone else was on lockdown, when he was having people arrested for going to church, he was having $1,000 a night meals at the French Laundry,’ Treasury Secretary Scott Bessent said during a press conference Wednesday at the USA House in Davos. ‘And I’m sure the California people won’t forget that.’

Bessent’s comments came after Newsom lamented to a reporter earlier in the week that ‘people are rolling over’ to Trump, adding he ‘should have brought a bunch of kneepads for all the world leaders’ at the conference. 

But, a subsequent photo posted online by the younger Soros with Newsom at the sidelines of the World Economic Forum this week, praising the California governor’s rebuke of those bending a knee to the Trump administration in Davos, went viral among critics who, like Bessent, accused Newsom of cozying up to Soros.

‘Great catching up with the real star of the 2026 World Economic Forum, my friend Gavin Newsom,’ the young Soros captioned his photo with the California governor. ‘So glad he’s here calling out world leaders for believing appeasement works when it comes to Trump. It doesn’t. It only emboldens him to become more chaotic and destructive. World leaders could take a page out of Newsom’s book. It’s time to stand tall, stand firm, and stand united — before it’s too late.’

In response, Sen. Ted Cruz, R-Texas, posted an AI-generated version of the same photo Soros posted to his social media, but juxtaposed Newsom into a NASCAR uniform with sponsorship logos reading ‘Soros’ and ‘CCP’ strewn across it.

‘Fixed it for you,’ the Texas senator captioned his photo. 

‘Gavin Newscum auditioning to be Alex Soros’ next sugar baby is a waste of time – all the money in the world could not make Newscum’s pitiful presidential dreams come true,’ White House spokeswoman Taylor Rogers said. 

‘Someone confiscate Alex Soros’ Instagram account,’ Tim Miller, ‘Bulwark Podcast’ host and MSNBC analyst wrote in response to Newsom and Soros showing off their friendship in Davos.

‘Tells you all you need to know about Gavin Newsom’s true allegiance’ said London Center for Policy Research President and former Army intel official Lt. Col. (retired) Tony Shaffer. ‘Indeed – Newsom is the Soviet star in the Marxist globalists vision to return the world to Futile Mercantilism.’

‘Hey, you found a billionaire I want to tax,’ quipped California Post opinion editor Joel Pollak, while advisor to Sen. Tim Scott, R-S.C., Nathan Brand, noted how Newsom ‘already looks like a Bond villain, and posing with Soros at the World Economic Forum in Davos doesn’t help.’

On Wednesday, Newsom accused the Trump administration of blocking him from speaking at the USA House in Davos. 

When reached for comment, the White House neither confirmed nor denied the allegations. ‘No one in Davos knows who third-rate governor Newscum is or why he is frolicking around Switzerland instead of fixing the many problems he created in California,’ White House spokesperson Anna Kelly added when asked about the claims from Newsom.    

Soros, who has donated roughly $70,000 to Newsom’s political ambitions, has a history of posting and praising Newsom on social media.

‘Great to see the inspiring Gavin Newsom, a force who’s unafraid to push back against this Administration’s threats to our democracy and constitutional rights,’ Soros wrote in September on social media along with a photo of himself and Newsom at an event for the Clinton Global Initiative. The pair also met there and took a photo together in 2023.

 

‘Great to see CA Governor Gavin Newsom in New York for the #ClimateSummit,’ Soros says in another post from 2019 including a photo with Newsom. ‘He is doing a phenomenal job reducing carbon emissions in California!’

Fox News Digital reached out to Newsom’s office, but did not receive a response.


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Denmark’s prime minister insists sovereignty is non-negotiable as Trump announces Greenland deal ‘framework’

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Danish Prime Minister Mette Frederiksen is insisting that Denmark will not negotiate on its sovereignty of Greenland despite President Donald Trump announcing a ‘framework’ of a deal for the U.S. to purchase the Arctic territory has been reached.

In a statement, she indicated that the nation is open to discussions with allies as long as the engagement respects Denmark’s ‘territorial integrity.’

‘Security in the Arctic is a matter for the entire NATO alliance. Therefore, it is good and natural that it is also discussed between NATO’s Secretary General and the President of the United States. The Kingdom of Denmark has long worked for NATO to increase its engagement in the Arctic,’ Frederiksen noted in the statement, which was written in Danish.

‘We have been in close dialogue with NATO and I have spoken to NATO Secretary General Mark Rutte on an ongoing basis, including both before and after his meeting with President Trump in Davos. NATO is fully aware of the position of the Kingdom of Denmark. We can negotiate on everything political; security, investments, economy. But we cannot negotiate on our sovereignty,’ she asserted. 

The Danish prime minister noted that ‘only Denmark and Greenland themselves can make decisions on issues concerning Denmark and Greenland. The Kingdom of Denmark wishes to continue to engage in a constructive dialogue with allies on how we can strengthen security in the Arctic, including the US’s Golden Dome, provided that this is done with respect for our territorial integrity.’

Her comments come after Trump announced on Truth Social that, ‘Based upon a very productive meeting that I have had with the Secretary General of NATO, Mark Rutte, we have formed the framework of a future deal with respect to Greenland and, in fact, the entire Arctic Region.’

‘This solution, if consummated, will be a great one for the United States of America, and all NATO Nations,’ Trump wrote in the post. ‘Based upon this understanding, I will not be imposing the Tariffs that were scheduled to go into effect on February 1st. Additional discussions are being held concerning The Golden Dome as it pertains to Greenland.’

During a speech at the World Economic Forum annual meeting in Switzerland on Thursday, Trump seemed to indicate that he would not use force to seize Greenland.

While discussing NATO, he said, ‘We probably won’t get anything unless I decide to use excessive strength and force, where we would be frankly unstoppable. But, I won’t do that.’

‘I won’t use force. All the United States is asking for is a place called Greenland,’ Trump said.

These are the two things ‘at stake’ in Trump’s Greenland ‘framework’: NATO secretary

In a post on X, Denmark’s Foreign Minister Lars Løkke Rasmussen, said, ‘We welcome that POTUS has ruled out to take Greenland by force and paused the trade war. Now, let’s sit down and find out how we can address the American security concerns in the Arctic while respecting the red lines of the KoD.’


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A rare filing in the Lisa Cook–Trump case could sway Supreme Court justices

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A rare filing from economic heavyweights could shape how Supreme Court justices view the limits of presidential control over the Federal Reserve and U.S. monetary policy.

On Wednesday, the nation’s highest court heard oral arguments for two hours on whether President Donald Trump has the authority to remove Lisa Cook from the Federal Reserve’s Board of Governors. 

That debate has drawn an extraordinary amicus brief from some of the most influential figures in U.S. economic policy. An amicus brief is a submission from a group not directly involved in a suit that offers information, expertise or arguments to help a court decide the matter.

It was signed by every living former chair of the Federal Reserve, Alan Greenspan, Ben Bernanke and Janet Yellen, as well as six former Treasury secretaries who served presidents of both parties.

The group, which also includes seven former White House economic advisers, spans roughly five decades of U.S. economic policymaking.

Such intervention is almost unheard of, as former Fed chairs and Treasury secretaries typically steer clear of public legal battles.

In the 32-page amicus brief, the group argues that allowing the Trump administration to remove a sitting Fed board member would ‘erode public confidence in the Fed’s independence and threaten the long-term stability of the economy.’

Expanding the president’s power over Fed board membership is ‘neither necessary nor appropriate’ and would be counterproductive, the group writes, because it would weaken the central bank’s independence and lead to higher inflation and economic instability.

That concern, the group argues, is already playing out in real time. 

‘Sectors that pay close attention to the Federal Reserve — including the financial markets, the public, employers and lenders — are watching the current dispute over the President’s removal of Governor Cook to judge how credible the Fed will be going forward.’

John Sauer, the solicitor general, said Cook’s amici filing did not address the ‘legal issues at the heart of this case.’

‘Most of Cook’s amici emphasize policy arguments, touting the perceived benefits of the Federal Reserve Board’s independence in setting monetary policy,’ Sauer wrote, adding that ‘policy preferences are not the law, and these particular preferences lack any logical limit.’

In deciding Cook’s case, the justices could also shape Federal Reserve Chair Jerome Powell’s future at the Fed.

In a notable departure from his typically measured and low-profile approach, Powell attended the oral arguments at the Supreme Court. His appearance comes amid a criminal investigation by the U.S. Attorney’s Office in Washington, D.C., related to his congressional testimony on a multibillion-dollar renovation of the Fed’s headquarters. 

Powell described the investigation as ‘unprecedented,’ calling it another instance of the Trump administration using legal threats to pressure the central bank on policy decisions.

Cook’s ascent to the Federal Reserve was historic from the start. 

Now, she stands at the center of an even more consequential moment, as President Donald Trump moves to fire her — a step that would be unprecedented in the Fed’s 112-year history.

The court is expected to issue a ruling on Cook’s case by the summer.


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Sanders accuses Trump of pushing US and world ‘toward authoritarianism’

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Sen. Bernie Sanders, I-Vt., accused President Donald Trump of working to push the U.S. and the rest of the globe in the direction of ‘authoritarianism.’

‘Trump’s hostility toward Europe has little to do with his absurd and irrational arguments over Greenland. It has everything to do with his efforts to undermine democracy and move this country and the world toward authoritarianism. Trump does not like free elections, a free media or the right of people to dissent,’ Sanders claimed in a statement posted on X.

‘That is why he hates Europe, with its strong democratic governance, social safety net, and commitment to peacefully resolving disputes. That is why he is sending ICE to invade American cities,’ the left-wing lawmaker continued.

Sanders claimed the president would prefer a world controlled by wealthy ‘oligarchs.’

‘Let’s be clear. Trump would prefer the world to be ruled by his fellow multi-billionaire oligarchs, like his good friends in Saudi Arabia and Russia. These dictators crush political dissent, jail their opponents, and engage in massive kleptocracy,’ he asserted.

Sen. Bernie Sanders swears in Zohran Mamdani as 112th NYC mayor

‘As patriotic Americans who believe in our Constitution and the rule of law, we will stand with those heroes and heroines who gave their lives to defend our freedoms. Now, in this dangerous moment in American history, it is imperative that all of us, regardless of our political views, come together to confront the grave threat of authoritarianism,’ he declared.

Fox News Digital reached out to the White House for comment.


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Trump and world leaders sign Gaza Board of Peace charter

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President Donald Trump unveiled his Board of Peace on Thursday, with world leaders signing on to pursue a lasting agreement for Gaza.

Trump inaugurated the board during a speech and signing ceremony at the World Economic Forum in Davos, Switzerland.

‘Once this board is completely formed, we can do pretty much whatever we want to do. And we’ll do it in conjunction with the United Nations,’ Trump said in a statement.

‘This isn’t the United States, this is for the world,’ he added. ‘I think we can spread it out to other things as we succeed in Gaza.’

This is a developing story. Check back soon for updates.


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‘Saving the Family’ Should Start with Sound Money

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In the opening week of 2026, several scholars at the Heritage Foundation published a special report titled “Saving America by Saving the Family: A Foundation for the Next 250 Years.” This 168-page document covers myriad policies that negatively impact the American family and proposes solutions to those problems. Some, largely the solutions that propose repealing and reforming existing systems, can help families. But the calls to subsidize traditional family life will come with a host of unintended consequences.

The nation is indeed facing a demographic crisis, and some of Heritage’s proposals deserve praise, while others deserve criticism. One proposed reform is mentioned but given barely any attention: a return to sound money.

Helping the American family (broadly understood) is a laudable goal, but the patterns of later and fewer marriages, later and less-frequent reproduction, and a host of other family pathologies are themselves the result of a mountain of interventions. The American family must be saved from government, not by government.

America’s Demographic Squeeze: Fewer Births, More Dependents

The demographic decline facing the US is less sudden than often claimed, but no less consequential. As the Heritage report notes, fertility has remained below replacement rates for years, ensuring that natural population growth is weak. In the absence of sustained immigration, population growth is likely to become population contraction.

Simultaneously, the retirement of the Baby Boomer generation is steadily increasing the share of the population outside of the labor force, raising the dependency burden borne by working-age Americans and taxpayers.

These trends are already becoming visible. Slower growth or even shrinkage in the working-age population, absent significant immigration, constrains labor supply and limit economic growth potential. Meanwhile, Social Security and Medicare (the two largest expenditures in the federal budget) face rising expenditures precisely as the tax base supporting them grows more slowly. Additionally, the rise of the welfare state has greatly hampered family formation, especially among low-income families.

SR323_Chart-01

These changes underscore the need to remove institutional barriers to family formation and reform policies that underlie present challenges.

Remove Barriers Before Adding Benefits

Several laudable elements in the Heritage report shouldn’t be overlooked. First, it acknowledges that many policies favor traditional families. While there are indeed over 1,000 forms of federal privilege granted to married couples, these have been in place throughout the period when both marriage and fertility rates are falling. This raises the question: Why are these so-called “pro-family” or “pro-natal” policies failing to achieve their stated goals? Perhaps it’s because other measures on the books outweigh them, and actually short-circuit family formation.

The report’s authors call for a repeal of multiple policies that have been shown to deter and delay marriage, alter planned fertility, and even divorce patterns. Among them are “credits designed specifically to benefit poor single mothers,” and the structure and incentives from the Earned Income Tax Credit, which “strongly favors single parenthood over marriage.” The report also demands the elimination of “needless occupational licensure laws” that block young and lower-income earners from the labor force, undermining the early wealth-building that encourages marriage. Further, it seeks the easing of local zoning and construction regulations that make home affordability more difficult for younger, poorer households.

Heritage’s report frames the Israeli case as a model for what must be done to increase marriage and fertility rates. But the main reasons cited for (slightly) above-replacement fertility rates in Israel are religiosity, nationalism, and “Jewish communal life in exile,” all of which are summarized later as “culture, faith, and national purpose to family formation.” These specific pressures can’t, and shouldn’t, be replicated in modern, pluralistic societies. Further, the report rightfully admits, “While other nations have tried to reverse declining birthrates through financially generous family policies, none has succeeded in restoring fertility to replacement levels. This demonstrates that government spending alone does not ensure demographic success.”

Turning to Eastern Europe, the report looks to Hungary for policy solutions, interventions, and expenditures that have a more positive track record in increasing marriage and fertility. Indeed, Budapest began offering eligible brides interest-free loans, equating to over $30,000 for saying “I do” back in 2019. Moreover, the debt may be forgiven if the couple had three or more children. The report belies an important fact, however: the increase in the marriage rate is largely due to formerly cohabiting couples tying the knot. One would expect that once this initial wave of marriages has passed, the impact would be negated by other factors. In fact, just four years after the policy was introduced, the marriage rate began to fall back toward EU norms. The high cost of taxpayer-subsidized loans for cohabiting couples to make it official has had only temporary effects, and may prove, in the long run, to have produced marriages that are more apt to divorce, especially when the money runs out.

The Heritage Report correctly marks some of the causes of family disintegration: marriage penalties embedded in both welfare and fiscal interventions, especially for low-income households. The authors rightly call for their repeal. At the same time, the models they point to as ideal national cases for cultural and policy reform either can’t be replicated or are short on results. Worse still, the report’s greatest shortcoming is found in a drive-by mention of the single, foundational intervention that may actually be undermining all of traditional family life.

The Best “Pro-Family” Policy Is Price Stability

Buried within the report is a brief aside discussing the pressure a fiat monetary system and the resulting inflation has placed on families. The authors state:

High inflation can not only devastate the economy but also make it harder for families to form and grow. The US abandoned the gold standard in 1971, and the lack of convertibility of dollars to gold since then has facilitated reckless money printing and irresponsible federal spending, leading to bouts of high inflation in the 1970s, early 1980s, and the 2020s. Families rely on the dollar as a store of wealth, so the Federal Reserve must restore sound money and price stability. While many monetary rules have been proposed, the system with a proven record track record of success and stable prices is full convertibility to gold.

This passage, and its recommendation to return to full convertibility, are worth their weight in gold.

A few economists have pointed to the connection between increasing real prices in healthcare, education, and housing as key contributors to delays in marriage and lowered fertility rates.

Outside factors like regulatory pressure and geopolitical forces have doubtless contributed to rising real prices in these categories. But among these, the ongoing loss of purchasing power due to the loose money policies of the Federal Reserve and its member banks has received too little attention.  

Even less attention is paid to the rise of what some have called the inflation culture. The Heritage report hints at this reality, but chalks it up to a loss of religiosity. But the decay of religious and civic life in the West has an undetected, underlying culprit. Because of the redistributive and impoverishing effects of easy money, a once-entrepreneurial and optimistic American culture has given way to a litany of social pathologies:

  • Short-termism or fatalism (“in the long run, we’re all dead”)
  • Reliance on credit and leverage to get ahead
  • Long-term debts functioning as barriers to family formation
  • A culture of “total work” that discounts family life and delays life milestones
  • The two-income trap contributing to absent parents
  • Hustle culture or “grindset” among young adults, to the exclusion of strong relationships

All are impacting family formation and family cohesion. All have their roots in the demoralization of persistent, slow-burning inflation, eating away the value of money. Younger generations hoping to live comfortably can reasonably ask: ‘Who has time for marriage and family?’ The answer: a lot fewer people than in generations past.

The damage done to the American family is likely reversible, but the Heritage Foundation’s report misses the root cause: inflation may be the most corrosive anti-family force of all. Policymakers who want to revive marriage rates and fertility should examine existing, counterproductive incentives, including new money creation and Congressional overspending. What they shouldn’t do is continue layering new interventions onto old ones, creating more bureaucracy and higher costs — but fewer weddings and babies.

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My Bank Froze “My” Account — Is Permissioned Access Still Money?

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I sound like a nutcase; I know.

I could see it in my octogenarian grandpa’s eyes, as he thought what I said was ludicrous. Surely money in a bank account in my name is my money? Surely positive balance in that account can always be transformed into sandwiches, gasoline, or rent payments? The bank works for me, right? It’s their duty to facilitate my spending.

No, I tried to convince him; bank deposits are not yours, practically or legally. Banks can freeze your account and stop your payments at any time, for any reason. Thus, bank deposits fail any rudimentary sniff test of “money,” yet everyone treats them as synonymous with the freest, simplest monetary media they’ve ever seen. It just always works, right?

Just days later, Revolut, the European fintech institution that has taken the world of money and banking by storm, froze my account. The access point to my own funds that I’ve been using daily for probably a decade simply stopped working.

Was Revolut spying on me in grandpa’s living room, waiting for the most ironic moment to flex this godlike power?

When Your Money Isn’t Yours

You never think it’s going to happen to you — or at all. I should know better than most. For years, I’ve written and spoken about the nature of our modern, permissioned fiat money. And even so, I’m receiving a painful lesson in how modern banks really, really work. money in a bank account isn’t yours, nor even, really, money at all (a neutral bearer asset under your exclusive control). We know that fiat fails as a monetary system, because its redistributive inflationary consequences and terrible impact on asset prices assure its value falls over time. But what is so absurd is how the overregulated banking system doubly fails, by simply canceling our ability to pay, when we least expect it.

“What Did You Do?”

It’s the most obvious — and wrong! — question. Banks on the hook for unworkable regulations don’t need a reasonable excuse to block your funds. Asking why assumes that banks only ever freeze accounts or stop payments with proper cause. Besides, you never really know the specific reasons why financial institutions block someone’s access — you can only guess.

In my case, I received a payment for services rendered, as I have a hundred times. But one client — or their bank — mysteriously tried to claw back the funds. The complaints received by Revolut on behalf of this other bank — Germany’s Allianz, mediated via Apple Pay — made them freeze my account and start a review, provisionally. The end date seven days out. When I submitted documents and the standard range of DarkWeb-worthy identification details, accompanied by well-chosen words of discontent, this date suddenly shifted another three days into the future.

How Regulatory “Protection” Became the New Fragility

Adding insult to endless injury is the knowledge that anti-money laundering (AML) regulations and fraud protection efforts that justify bank powers and interventions like this are almost entirely misdirected. AML compliance costs banks tens of billions every year. Yet their record for “protecting” customers and preventing legitimate financial fraud is roughly zero. 

Experts estimate that criminal proceeds prevented through banks benevolently spying on their customers amounts to fractions of a percent of dirty money flows — at a cost, financially and in inconvenience, well above what it’s worth. 

With an oversized state and regulations that grow faster than anyone can read them, we have become too collectively comfortable with the dark triad of banks, digital surveillance, and government anti-money laundering powers. Bitcoin founder Satoshi Nakamoto wrote,

Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts.

Most didn’t listen. I did, but I still fell prey to this nonsensical monetary arrangement. The only reason I can cover my expenses this month — rent, groceries, pension contribution — is precisely because I have access to unstoppable digital money that nobody else controls. 

Is Ownership a Myth?

A bank account, says fellow bitcoiner and Swede, Knut Svanholm, is a two-of-three multisig security arrangement between you, the bank, and the state. Together, they are always in control (and possession!) of your funds. You access it at their mercy. 

Nothing about this debacle makes any sense, and I can’t wait for the monstrosity that is fiat money, banking, and financial regulations to collapse — under their own contradiction, to paraphrase the Marxists. Or merely through the exit of us ordinary people who finally have enough. 

Even if I ultimately get my fiat funds back, I’ll probably never bank with Revolut again — and be increasingly suspicious of every other bank. For how do I live with an AML-shaped sword of Damocles forever hanging over my head?

No, thanks. Fiat Delenda Est.

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Skyharbour Announces Major 2026 Exploration Campaign with Denison Mines at Russell Lake Uranium Joint Ventures

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Skyharbour Resources Ltd. (TSX-V:SYH)  (OTCQX:SYHBF) (Frankfurt:SC1P) (‘Skyharbour’, ‘SYH’ or the ‘Company’) is pleased to announce plans for a major 2026 exploration campaign spanning several of the newly-formed Russel Lake joint ventures with Denison Mines Corp. (‘Denison’) (TSX:DML) (NYSE American: DNN). Over 15,000 metres of diamond drilling is planned across the Wheeler North, RL, and Getty East joint ventures, each of which were formed following completion of the strategic transaction with Denison in December 2025 that resulted in a reorganization of the former Russell Lake uranium project into four separate property joint ventures (the ‘Russell Lake Joint Ventures’).

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

The Russell Lake Joint Ventures are strategically located in the central portion of the eastern Athabasca Basin of northern Saskatchewan, to the east of Denison’s flagship Wheeler River project, and with access to significant regional infrastructure, including an exploration camp, provincial highways, and the provincial power grid.

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

Highlights of 2026 Exploration Plans:

  • Immediate start to exploration at Denison-operated Wheeler North property with 2,500 metres planned for winter drilling at the Fox Lake Trail target, where previous drilling identified extensive faulting and intense illite- and dravite-dominated alteration, together with elevated uranium and boron geochemistry which confirms the presence of strong uranium-mineralizing hydrothermal systems.
  • Additional 5,000 metres of drilling at the Wheeler North property’s Fork and Sphinx target areas is planned for later in the year, intending to follow up on drilling from the last two years which confirmed prospective structures and/or uranium mineralization.
  • Target generation and diamond drilling follow up planned for Skyharbour-operated RL property expected to consist of ground EM surveys and 4,000-5,000 metres of diamond drilling across several prospective targets.
  • Ground geophysical surveys and approximately 3,600 metres of diamond drilling targeting the Little Mann Lake prospect area and priority targets along the extension of the mineralized Middle Lake Trend on the Getty East property.
  • In total, over 15,000 metres of diamond drilling planned in 2026 across newly reorganized properties at the Russell Lake Joint Ventures.

Jordan Trimble, President and CEO of Skyharbour, stated: ‘2026 is set to be a transformative year for Skyharbour and the upcoming commencement of drilling at the recently formed Russell Lake joint ventures represents a key near-term catalyst. The planned +15,000-metre, multi-phased drill campaign at Russell is a substantial increase to previous annual drilling programs as we accelerate exploration efforts together with our new funding-partner, Denison, using systematic and proven exploration methodologies. We are confident that this collaboration with Denison will expedite the discovery process and leverage Denison’s success in exploring, permitting, and developing the neighboring Wheeler River Project, where the high-grade Phoenix deposit is positioned to become the next new large-scale uranium mine built in the region since the Cigar Lake mine.’

Mr. Trimble continued: ‘The Russell Lake Joint Ventures encompass one of the largest and most prospective land packages in the Athabasca Basin region, with a combination of proximity to existing and developing mines, as well as low-cost drilling and relatively shallow target depths. Combined with our recently announced plans for drilling in 2026 at our adjacent Moore Project, as well as at our Preston Project JV and various other partner-funded projects, the Company will have consistent news flow throughout 2026. With over 30,000 metres of diamond drilling anticipated across Skyharbour’s project portfolio in 2026, we believe the Company offers unique and significant discovery optionality.’

Wheeler North Property Plans:

Wheeler North consists of 16,409 hectares over eight claims that host numerous prospective exploration targets located adjacent to the Wheeler River Project. Ownership is initially 51% Skyharbour and 49% Denison, with Denison serving as the operator and holding additional earn-in options to achieve up to a 70% ownership interest. 

At Wheeler North, Denison is planning an exploration program comprising approximately 13 diamond drill holes totalling approximately 7,500 metres this year. The work is expected to be sole funded by Denison pursuant to its earn-in options, and is set to commence shortly with a focus on three high-priority target areas: Fork, Sphinx, and Fox Lake Trail (‘FLT’).

At the Fork Zone, previous drilling by Skyharbour confirmed the presence of high-grade uranium mineralization, including the high-grade intersection in drill hole RSL24-02, which returned 3.0% U3O8 over 0.5 metres. Drilling in 2025 identified a broad corridor of intense sandstone and basement alteration associated with favourable geochemistry along strike to the north of hole RSL24-02. Drilling planned for 2026 will focus on systematically testing this intense alteration corridor with the objective of expanding the known mineralized footprint at the Fork Target.

To the northwest of the Fork Zone, the Sphinx target area has emerged as a newly identified, high-priority target area, which is located approximately one kilometre from Denison’s Phoenix deposit. Inaugural drilling completed in 2025 intersected a faulted graphitic unit in the basement, confirming the presence of a prospective reactivated structural corridor at Sphinx. The projected unconformity intersection of this structure is considered a priority follow-up target, with additional drilling planned to test this setting along strike.

At the Fox Lake Trail (‘FLT’) Zone, drilling in 2025 by Skyharbour intersected strong hydrothermal alteration associated with uranium-mineralizing systems, including intense sandstone desilicification, brecciation, fracturing, elevated boron values, and widespread illite- and dravite-dominant clay alteration. Notably, drill hole RSL25-03A intersected a strongly altered sandstone fault zone with boron values up to 5,360 ppm, while RSL25-02 intersected anomalous basement-hosted uranium within a faulted graphitic unit, collectively indicating proximity to a fertile uranium-bearing structural corridor. A focused follow-up program of three to four drill holes is planned to commence in winter 2026, with contingency drill targets available on additional untested conductors within the FLT area.

RL Property Plans: 

The RL property covers 53,192 hectares over 16 claims located north and west of Skyharbour’s adjacent Moore Project. Skyharbour owns an 80% interest and is the project operator while Denison owns 20% and has committed to funding its share of the next $10 million in exploration expenditures on the property. 

The property hosts numerous exploration target areas, including Christie Lake, Blue Steel, Taylor Bay, South Russell, and Kowalchuk Lake. Skyharbour is carrying out electromagnetic (‘EM’) surveys to further refine and prioritize targets along prospective structural corridors and underexplored conductors. This work will be followed by targeted diamond drilling of approximately 4,000 to 5,000 metres this year in 10-14 drill holes, designed to test high-priority targets generated from the integration of historical datasets, recent drilling results, and new geophysical interpretations.

Getty East Property Plans:

Getty East consists of one claim covering 3,105 hectares and hosts the Little Mann Lake uranium zone, as well as the interpreted extension of the Middle Lake trend. Skyharbour owns 70% of the property and will initially act as operator.  Denison has an initial 30% ownership interest, and holds additional earn-in options to acquire up to a 70% interest in the project, as well as the right to become the project operator. The work planned for 2026 is expected to be sole funded by Denison pursuant to its earn-in options.

Skyharbour is planning approximately 16.2 line-kilometres of ground MLTDEM surveying to better define priority conductive corridors associated with the interpreted extension of the Middle Lake trend. Historical drilling on this trend, located to the south of the Getty East property, returned high-grade uranium mineralization, including 22.1% U3O8 over 0.9 metres in drill hole ML-30. The geophysical survey is expected to be followed up by approximately 3,600 metres of diamond drilling in about 10 drill holes to test targets generated from the new geophysics and supported by historical drilling results.

Overview of Recent Skyharbour Exploration Programs at Russell:

Skyharbour recently drilled 19 holes totalling 9,844 metres, together with Moving Loop and Fixed Loop Transient Electromagnetic (TEM) surveys completed across multiple priority target areas within the original Russell Lake project area. This exploration focused on advancing several high-priority targets, including the Fork Zone, M-Zone Extension, Fox Lake Trail, and the newly identified Sphinx target area. Denison and Skyharbour plan to follow-up on the findings of the previously exploration at Russell with the 2026 programs.

First Phase of Exploration:

In the first phase, 8 diamond drill holes totalling 4,124 metres, were completed with 6 of these holes drilled at the newly identified Fork Zone to follow up on the high-grade mineralization intersected in previously reported hole RSL24-02. The remaining 2 holes were drilled at the M-Zone Extension, targeting historical ground EM anomalies.

The Fork Zone was discovered in 2024 and is host to the best uranium mineralization intercepted to date at the Russell Lake project. The highlight results included high-grade unconformity-hosted mineralization intercepted in previously reported RSL24-02, which returned 3.0% U3O8 over 0.5 metres within a broader 2.5-metre interval averaging 0.72% U3O8 at a relatively shallow depth of 338.1 metres. Prior to 2024, the Fork Target had seen minimal historical exploration due to the lack of reliable ground geophysical data, primarily caused by interference from the nearby powerline.

Sphinx and Fork Target Areas – Drill Collar Map:
http://www.skyharbourltd.com/_resources/images/Sphinx-and-Fork-Target-Areas-Drill-Collar-Map-0005.jpg

Hole RSL24-12 at the Fork Zone intersected 0.17% U3O8 over 0.5 metres from 337.8 to 338.3 metres at the unconformity. Anomalous As, Ni, Pb, V, Zn, and B were intersected, in addition to weak uranium mineralization from 330.0 metres until the unconformity at 338.3 metres. Basement geochemistry returned anomalous uranium within altered and structurally disrupted graphitic metasediments. RSL24-12 tested for continuity of mineralization encountered in RSL24-02 to the SSW but the optimum target at the unconformity was undershot thereby warranting further drilling here. Holes RSL24-11, -13, -14, -15, and -16 all intersected anomalous pathfinder elements at the Fork Zone associated with the hanging wall of the structure in graphitic basement lithologies, in addition to anomalous uranium ranging from 11.8(partial) to 150(partial) ppm U.

Fork Target Area – Drill Collar Map:
http://www.skyharbourltd.com/_resources/images/Fork-Target-Area-Drill-Collar-Map-0002.jpg

The MZE (‘M-Zone Extension’) target lies on trend from Denison’s Wheeler River Project M-Zone, where historical drilling intersected basement and unconformity-hosted uranium mineralization. More recent drilling by Denison in 2020 at the M-Zone encountered additional uranium mineralization, along with significant faulting, core loss, geochemical anomalies, and radioactivity. The mineralization at M-Zone is hosted by a graphitic thrust fault within a significant magnetic low, which continues onto the Russell Lake property area at the M-Zone Extension target. It is also noted that lineaments (cross structures) associated with Denison’s Phoenix and Gryphon uranium deposits trend onto the Russell Lake property within the M-Zone Extension target area, further enhancing the prospectivity of this target.

Hole RSL24-17 was drilled to follow up on a 2024 hole at the MZE Zone that was lost in structurally disrupted and altered sandstone before reaching its target. RSL24-17 similarly encountered intense structure and alteration in the sandstone and was lost before intersecting the basement. Hole RSL24-18 intersected moderate hydrothermal hematite within the basal sandstone, and strong shearing locally overprinted by well-developed fault breccia and gouge within the basement. Anomalous uranium was intersected within fractured and altered granitic lithologies.

In addition to the drilling above, focused ground geophysical programs were completed over the Fork, Sphinx and Fox Lake Trail targets within the central and northern portions of the Russell Lake project area. The surveys across the Fork–Sphinx areas identified a series of previously unrecognized conductive anomalies, including four sub-parallel conductors at the Fork area, at least one conductive trend at Sphinx, and an additional parallel trend located between the Fork and Sphinx trends, now referred to as the McGowan trend. All of these conductors were virtually untested prior to the work in 2025. At the Fox Lake Trail area, the survey delineated four parallel conductive trends, of which only two had been drill tested prior to 2025, as earlier surveys failed to adequately resolve these features.

Second Phase of Exploration:

The second phase of drilling comprised of 11 drill holes totaling 5,720 metres, targeting the newly identified, high-priority conductors while also expanding on the successful 2024 discovery at the Fork Zone. Fork is now understood to be a northeast–southwest–trending structural corridor that runs sub-parallel to the historical Grayling Zone and remains largely underexplored. The northern strike extension of the Fork Trend, together with multiple parallel conductive trends to the west, remain virtually untested and represent high-priority targets for follow-up drilling.

Of the 11 holes in the second phase, 6 holes totaling 2,397 metres were completed at the Fork Zone. Hole RSL24-12W1 intersected 2.0 metres averaging 0.28% U3O8, including 0.5 metres of 0.68% U3O8 southwest of hole RSL24-02, confirming continuity along and across strike. A four-hole fence (RSL25-05, -08, -09, and -10) drilled approximately 325 metres north of RSL24-02 tested newly defined, parallel EM conductors located approximately 500 metres west of the historical Grayling showing. These conductors were untested prior to Skyharbour’s 2025 drilling. Holes RSL25-05, -08, and -10 intersected intense sandstone-hosted faulting with bleaching, desilicification, core loss, and clay alteration locally including visible dravite. Hole RSL25-09 intersected a graphitic basement fault zone and clay analyses confirmed illite-dominant alteration with local dravite, consistent with fertile uranium systems in the Athabasca Basin. An additional hole, RSL25-06, drilled approximately 330 metres SSW of RSL24-02, intersected granitic basement and did not explain the EM response. Further drilling in the area is required to adequately test this target with plans in 2026 to do so.

The faulting and associated alteration encountered in RSL25-05, -08, -09, and -10 represent the strongest structural and hydrothermal alteration intensity identified at the Fork Zone to date. This alteration system remains unconstrained along strike in both directions and across strike to the west, highlighting significant upside potential which has already produced grades of up to 3% U3O8 at the target area.

Skyharbour also completed a single drill hole, RSL25-07A, to test a newly identified ground EM conductor at the Sphinx target, representing the first drill test of this target. Sphinx is located approximately one kilometre southeast of the Phoenix deposit on the Wheeler River Project. The hole confirmed the EM anomaly as a faulted and altered graphitic pelite unit, intersected approximately 140 metres below the unconformity. The graphitic fault zone shows evidence of post-Athabasca reactivation and is associated with pervasive bleaching, supporting the interpretation of a structurally fertile system.

Geochemical sampling from RSL25-07A returned elevated uranium and associated pathfinder elements within faulted and graphitic intervals. PIMA analysis identified illite-dominant clay alteration in the sandstone and illite–chlorite alteration in the basement, indicating a well-developed hydrothermal system. Together, these results support the interpretation of a reactivated, structurally focused uranium-fertile corridor at Sphinx. With only one drill hole completed to date and the target located proximal to the Phoenix deposit, Sphinx remains a high-priority target for follow-up drilling planned in 2026.

Furthermore, Skyharbour completed 4 drill holes at the Fox Lake Trail area, located at the northern end of the Russell Lake project area. The drilling tested two of the recently defined conductors by the 2025 ground EM survey within a broad conductive corridor that has seen limited historical drilling with sporadic uranium mineralization and favourable hydrothermal alteration.

Fox Lake Trail Target Area – Drill Collar Map:
http://www.skyharbourltd.com/_resources/images/Fox-Lake-Trail-Target-Area-Drill-Collar-Map_rev-0003.jpg

Holes RSL25-02, RSL25-03A, and RSL25-04 tested the strike extension of the same conductive trend, while hole RSL25-01 tested a parallel conductive target to the southeast. The two drill fences are spaced approximately 800 metres apart. Holes RSL25-03A and RSL25-04 encountered the strongest hydrothermal alteration observed at Fox Lake Trail to date, including brecciation and significant quartz dissolution, while hole RSL25-02 intersected anomalous basement-hosted uranium of 250 ppm U over 0.5 metres within a faulted graphitic unit. Clay analysis confirmed illite- and dravite-dominant alteration. These conductive trends remain largely underexplored along strike, with an additional priority target identified through reinterpretation of historical EM data between the two drill fences, supporting continued follow-up exploration at Fox Lake Trail. Drilling will commence shortly at this target area.

Summary of Russell Lake Joint Ventures:

The Russell Lake Joint Ventures encompass a large, advanced-stage uranium exploration land package totalling 73,314 hectares in the eastern Athabasca Basin of northern Saskatchewan. The properties are strategically positioned between Cameco’s Key Lake and McArthur River operations and immediately east of Denison’s Wheeler River Project.

Following the completion of a major strategic transaction with Denison in 2025, the former Russell Lake project was restructured into four separate joint venture uranium properties: RL, Wheeler North, Getty East, and Wheeler River Inliers. Each property is subject to its own joint venture agreement with operatorship divided between the partners. Skyharbour is the operator at the RL Claims and Getty East, and Denison is the operator at Wheeler North and the Wheeler River Inliers. In aggregate, the strategic transaction included total project consideration of up to C$61.5 million with Skyharbour retaining an 80% interest at RL while Denison can earn up-to 70% at each of the other properties.

The Russell Lake Joint Ventures benefit from excellent regional infrastructure, with the northern extension of Highway 914 traversing the western portion of the land package and a high-voltage provincial powerline running parallel to the road. Across the joint ventures, there are numerous high-priority exploration targets including the Grayling, Fork, Little Mann Lake, Christie Lake, Fox Lake Trail, Sphinx, Blue Steel, Taylor Bay, South Russell, and Kowalchuk Zones. In addition, more than 35 kilometres of largely untested prospective electromagnetic conductors occur across the joint venture properties, highlighting the substantial discovery potential.

QA/QC, Radiometric Equivalent Grades and Spectrometer Readings:

All drill intervals above are downhole length and sampling procedures and QA/QC protocols for geochemical results as well as a description of downhole gamma probe grade calculations and protocols are below. All drill core samples are shipped to the Saskatchewan Research Council Geoanalytical Laboratories (SRC) in Saskatoon, Saskatchewan under the care of Skyharbour personnel for preparation, processing, and multi-element analysis by ICP-MS and ICP-OES using total (HF:NHO3:HClO4) and partial digestion (HNO3:HCl), boron by fusion, and U3O8 wt% assay by ICP-OES using higher grade standards. Assay samples are chosen based on downhole probing radiometric equivalent uranium grades and scintillometer (Radiation Solutions RS-125) peaks. Assay sample intervals comprise 0.5 metre continuous half-core split samples over the mineralized interval. These samples may also be selected for density determination using Rock Density by Dry Bulk Method (wax-coated displacement method). With all assay samples, one half of the split sample is retained and the other sent to the SRC for analysis. The SRC is an ISO/IEC 17025/2005 and Standards Council of Canada certified analytical laboratory. Blanks, standard reference materials, and repeats are inserted into the sample stream at regular intervals by Skyharbour and the SRC in accordance with Skyharbour’s quality assurance/quality control (QA/QC) procedures. Geochemical assay data are subject to verification procedures by qualified persons employed by Skyharbour prior to disclosure.

During active exploration programs, drillholes are radiometrically logged using calibrated downhole Mount Sopris HLP-2375 or 2GHF probes of varying sensitivities, which collect continuous readings along the length of the drillhole. Preliminary radiometric equivalent uranium grades (‘eU3O8‘) are then calculated from the downhole radiometric results. The probe is calibrated using an algorithm calculated from the calibration of the probe at the Saskatchewan Research Council facility in Saskatoon and from the comparison of probe results against geochemical analyses. In the case where core recovery within a mineralized intersection is poor or non-existent, radiometric grades are considered to be more representative of the mineralized intersection and may be reported in the place of assay grades. Radiometric equivalent probe results are subject to verification procedures by qualified persons employed by Skyharbour prior to disclosure. 

Qualified Person:

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

About Skyharbour Resources Ltd.:

Skyharbour holds an extensive portfolio of uranium exploration projects in Canada’s Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with interest in forty-three projects covering over 662,887 hectares (over 1.6 million acres) of land. Skyharbour owns a 100% interest in the Moore Uranium Project, which is located 15 kilometres east of Denison’s Wheeler River project and 39 kilometres south of Cameco’s McArthur River uranium mine. Moore is an advanced-stage, uranium exploration property with high-grade, shallow uranium mineralization at the Maverick Zones. Adjacent to Moore, Skyharbour is advancing several uranium properties within the Russell Lake project area with its joint venture partner and large strategic shareholder Denison Mines. Collectively these projects host multiple zones of high-grade uranium mineralization across a highly prospective land package with significant exploration upside, and the Company is actively working these assets through exploration and drilling programs.

Skyharbour now has joint ventures with industry-leaders Denison Mines and Orano Canada Inc. at the Russell Lake properties and the Preston project, respectively. The Company also has several active earn-in option partners, including CSE-listed Nexus Uranium Corp. at the Mann Lake Uranium Project; TSX-V listed North Shore Uranium at the Falcon Project; UraEx Resources at the South Dufferin and Bolt Projects; Hatchet Uranium at the Highway Project; CSE-listed Mustang Energy at the 914W Project; and TSX-V listed Terra Clean Energy at the South Falcon East Project. In aggregate, Skyharbour has now signed earn-in option agreements with partners that total to potentially over $76 million in partner-funded exploration expenditures and over $42 million in cash and share payments coming into Skyharbour, assuming that these partner companies complete the earn-ins at their respective projects.

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

Skyharbour’s Uranium Project Map in the Athabasca Basin:
https://www.skyharbourltd.com/_resources/images/SKY_SaskProject_Locator_2025-12-16.jpg

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

Skyharbour Resources Ltd.

‘Jordan Trimble’

Jordan Trimble
President and CEO

For further information contact myself or:

Nicholas Coltura
Corporate Communications Manager
Skyharbour Resources Ltd.
Telephone: 604-558-5847
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com

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

Forward-Looking Information:

This news release contains ‘forward‐looking information or statements’ within the meaning of applicable securities laws, which may include, without limitation, completing ongoing and planned work on its projects including drilling and the expected timing of such work programs, other statements relating to the technical, financial and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of uranium, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses, and those filed under the Company’s profile on SEDAR+ at www.sedarplus.ca. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather or climate conditions, failure to obtain or maintain all necessary government permits, approvals and authorizations, failure to obtain or maintain community acceptance (including First Nations), decrease in the price of uranium and other metals, increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.

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Steve Penny: Silver’s Big Move Still to Come, Watch This Price Trigger

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Steve Penny, founder of SilverChartist.com, shares his thoughts on silver’s price breakout and next move, as well as the gold, platinum, uranium and oil markets.

‘In 1979, silver went up 700 percent, 8X in 12 months. I think that moment still lies ahead,’ he said.

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

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Vanadium Market Forecast: Top Trends for Vanadium in 2026

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The vanadium market remained subdued in H1 2025, weighed down by persistent oversupply and weak usage from the steelmaking sector, even as new demand avenues like energy storage gained attention.

Price data shows that vanadium pentoxide in major regions such as the US, China and Europe traded in roughly the US$9,300 to US$13,000 per metric ton range in Q1 and Q2, with no dramatic price spikes. Modest support was provided by demand for vanadium redox flow batteries (VRFBs) and stricter Chinese rebar standards.

Producers reported ongoing pressure on prices and profitability, with oversupply from China and Russia continuing to temper upward momentum and buyers delaying purchases amid resilient feedstock availability.

At the same time, vanadium’s role in long‑duration energy storage, particularly VRFBs, emerged as a potential growth driver as the year progressed, hinting at deeper structural demand beyond traditional industrial uses.

“The expected growth in vanadium demand from VRFBs as an energy storage solution at the grid-level represents a bright future for increased consumption,” a July CRU report reads. “However, the present reality is vanadium consumption is still dominated by use as a ferroalloy (ferrovanadium and vanadium nitride).”

Vanadium market to see structural change?

As 2025 progressed, the vanadium market continue to grapple with weakness as steel production demand struggled to absorb available supply and the broader metals complex remained in the doldrums.

Vanadium pentoxide prices stayed under pressure in most regions, with figures from the second quarter showing US prices near US$9,584, and Chinese prices around US$8,655, reflecting tepid buying activity and ongoing oversupply, even as emerging applications such as VRFBs sustained pockets of interest.

As mentioned, a key factor has been sluggish steel sector demand. Globally, crude steel production has weakened, particularly in China — historically the largest vanadium consumer — slowing vanadium’s traditional core market as rebar and structural steel consumption softened amid broader economic headwinds.

Although new Chinese rebar standards introduced earlier in 2025 mandate higher vanadium intensity in steel, anticipated increases in consumption have only partially materialized, leaving producers competing for limited contracts and putting downward pressure on average ferrovanadium and vanadium pentoxide prices.

At the same time, market participants reported that producers were cutting output and tightening supply in response to persistent low pricing. Several companies in China and the west curtailed production or deferred capital projects, indicating that margins were strained and cost discipline was becoming an industry imperative.

Global vanadium production has been declining since 2021, when the US Geological Survey reported total global output of 105,000 metric tons; that’s compared to 2024’s 100,000 metric tons.

Emerging vanadium demand from energy storage

Despite headwinds, structural changes in vanadium demand were evident in H2 2025.

VRFBs continued to gain momentum as more utility‑scale projects were announced and commissioned. The technology’s appeal lies in its scalability, long cycle life and safety profile compared to conventional lithium‑ion systems; installations in China, Japan and North America point to a slowly growing pipeline of demand outside steel.

Industry analysts have noted that vanadium demand from VRFBs could nearly triple by 2040 as long‑duration storage becomes a more integral part of renewable power grids, even if these applications currently represent a small fraction of total consumption. In China alone, installations of large‑scale VRFB systems were projected to consume tens of thousands of metric tons of vanadium pentoxide equivalent in 2025, offsetting some weakness in steel alloying use.

This bifurcation — weak traditional demand versus nascent battery demand — typified H2, producing a market where prices remained subdued, but underlying interest in new applications suggested a shift in fundamentals.

All eyes on Australia’s vanadium potential

Although US Geological Survey data shows Australia doesn’t currently produce vanadium, the nation holds the largest recorded vanadium reserves at more than 8.5 million metric tons.

Looking to tap this potential, the country has focused its attention on the industrial metal.

In January 2025, Australian Vanadium (ASX:AVL,OTCPL:ATVVF) received environmental approval from Western Australia for the Gabanintha vanadium project. The approval, granted by Minister for Environment Reece Whitby under section 45 of the Environmental Protection Act 1986 (WA), cleared the way for construction and production.

Shortly afterwards, the company’s namesake Australian Vanadium project, located in Western Australia’s Murchison province, earned a green energy major project designation.

The Queensland government has also invested in expanding refinement and processing capacity. Last May, construction began at Queensland’s first resources common user facility at the Cleveland Bay Industrial Park in Townsville.

The facility is designed to support the development, extraction and production of critical minerals, enabling the creation of mineral samples at scale and serving as a testing hub for commercializing production processes.

The government has identified vanadium as the initial focus, highlighting its key role in renewable energy applications.

In November, Western Australia launched a AU$150 million vanadium battery energy storage system project, aiming to make the state a leader in renewable energy and energy storage.

The 50 megawatt/500 megawatt-hour flow battery will use locally sourced and processed vanadium, and is expected to be the largest of its kind in Australia, supporting advanced manufacturing and a domestic supply chain.

Growing energy storage demand meets tightening supply

Looking ahead, analysts forecast that vanadium dynamics will begin to tilt in favor of tighter supply and strengthened pricing, though the timing and pace remain contingent on several variables.

A combination of reduced output and rising consumption — particularly from VRFBs — is expected to push the market toward a deficit by late 2026, encouraging a gradual recovery in vanadium prices.

Central to that shift is the energy transition. Demand for vanadium in long‑duration energy storage is projected to rise sharply as utilities and grid operators seek cost‑effective solutions to buffer renewables and stabilize electricity systems.

The vanadium market’s long‑term promise is underpinned by projections that VRFB deployment could grow at double‑digit rates, even as the bulk of demand remains tied to steel alloying.

On the supply side, a cautionary mood among producers — reflected in delayed project developments and tighter output discipline — may limit new material flowing onto the market in 2026.

With prices remaining below historical averages, many potential expansions are unbankable in the current price environment, meaning that new supply additions are likely to be limited absent a sustained price uptick.

“Vanadium market prices are likely to rise from late 2026, supported by tightening supply and growing demand from VRFBs. With weak prices in 2024 and 2025, driven by sluggish steel demand, vanadium producers have curbed output,” a CRU report published this past December notes.

Analysts at CRU project a late-year rebound, but caution that demand could triple by 2040 far outpacing production.

“Meanwhile VRFB demand is accelerating, evidenced by robust vanadium electrolyte project pipeline,” the firm’s report continues. “Rising demand will quickly run into depressed production, where prices will need to increase to support higher utilisation rates in mid-to late 2026.”

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

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