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Global commodity prices are on track to fall to their lowest level in six years by 2026, as weaker demand, a widening oil surplus, and policy uncertainty continue to weigh on markets, according to the World Bank’s latest Commodity Markets Outlook.

The World Bank expects global energy prices to fall sharply as oil oversupply builds.

The oil glut in 2025 is projected to expand 65 percent above its last peak in 2020 as electric and hybrid vehicles reduce fuel consumption and oil demand flattens in China.

Brent crude prices are forecast to slide from an average of US$68 per barrel in 2025 to US$60 in 2026, also marking the lowest level in five years. Overall, energy prices are seen dropping by 12 percent this year and an additional 10 percent next year.

Despite the declines, commodity prices remain elevated compared to pre-pandemic levels. The World Bank estimates 2025 prices will still average 23 percent higher than in 2019, and 2026 levels about 14 percent above pre-COVID benchmarks, reflecting structural shifts such as climate impacts, supply chain realignments, and new industrial demand.

Food markets are also showing signs of easing. Global food prices are forecast to fall in 2025 and 2026, aided by improved harvests and lower shipping costs. However, fertilizer costs are expected to surge this year before easing in 2026, driven by high input prices and trade restrictions that could strain farm profitability and threaten crop yields.

Precious metals, by contrast, are defying the broader trend.

Gold and silver have reached record highs in 2025, primarily buoyed by central bank purchases, investor demand for safe-haven assets, and ongoing macroeconomic uncertainty.

Meanwhile, gold prices are expected to rise 42 percent this year and another 5 percent in 2026, nearly doubling their 2015–2019 average. Silver is projected to increase 34 percent this year and 8 percent next year, extending its strong performance as the metal hit record highs in 2025.

While the downturn is providing some relief to inflation-hit economies, the World Bank warned that the decline may be temporary.

“Commodity markets are helping to stabilize the global economy,” said Indermit Gill, the World Bank Group’s Chief Economist and Senior Vice President for Development Economics. “Falling energy prices have contributed to the decline in global consumer-price inflation. But this respite will not last. Governments should use it to get their fiscal house in order, make economies business-ready, and accelerate trade and investment.”

The report also noted that the commodity outlook remains highly vulnerable to shifting global conditions. Prolonged trade disputes, sluggish economic growth, or an unexpected surge in oil supply from OPEC+ could drag prices further down.

Conversely, heightened geopolitical tensions, the imposition of new sanctions, or severe climate disruptions could drive them back up.

Beyond short-term price dynamics, the report’s Special Focus section for this year examines whether renewed global interest in managing supply and demand through commodity pacts could stabilize markets.

Drawing on a century of experience with international commodity agreements (ICAs), the World Bank found that most such efforts ultimately failed.

In the 20th century, producer and consumer nations attempted to stabilize prices through mechanisms involving inventory controls, trade quotas, and price-setting schemes for commodities.

While some early efforts achieved temporary price stability, most collapsed due to weak coordination and changing demand patterns. Even the Organization of the Petroleum Exporting Countries (OPEC)—the longest-lasting such arrangement—has faced increasing challenges from new energy sources and shifting consumer behavior.

“OPEC’s longevity stands out among other ICAs,” the report said, noting the oil cartel’s survival has depended on its ability to adjust production quotas, expand alliances through OPEC+, and engage with consumer nations through dialogue.

Still, the World Bank cautioned that OPEC faces growing headwinds from the global transition toward cleaner energy, which could usher in a period of stagnant or declining oil demand.

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

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Avalanche Treasury Co. (AVAT) represents a milestone in the maturation of blockchain-based digital assets as it transitions from speculative retail tools to mainstream institutional investment vehicles.

This newly launched investment vehicle, specifically designed to buy and hold Avalanche (AVAX) tokens, gives institutional investors a compliant way to gain exposure to Avalanche’s ecosystem growth. Its creation is emblematic of the broader financial ecosystem’s ongoing convergence with decentralized finance and blockchain innovation.

“This is a public company launching as an active, strategic partner within the Avalanche network, offering a level of integration and alignment that investors have been demanding,” he said.

Navigating institutional adoption with purpose

AVAT’s upcoming US$675 million SPAC merger with Mountain Lake Acquisition (NASDAQ:MLAC) positions it as a uniquely structured treasury dedicated to the Avalanche ecosystem.

With initial assets of nearly US$460 million and plans to acquire US$200 million more in AVAX tokens, the company aims to create a US$1 billion AVAX treasury. A Nasdaq listing is planned for early 2026.

This controlled, active treasury offers an alternative to passive index funds or exchange-traded funds, specifically designed for institutional clients seeking strategic participation in Avalanche’s blockchain network.

“The idea is to have a permanent capital vehicle. One of the benefits of not having to respond to creations and redemptions on a given day is that you can take a more strategic approach in what you’re doing,” said Smith.

AVAT’s differentiation lies in its regulated, transparent investment vehicle, developed under the oversight of seasoned professionals. Smith brings a wealth of experience, serving as a senior executive at Susquehanna International Group before leading AVAT, where he specialized in crypto trading and market-making across digital assets.

The advisory team also features prominent crypto pioneers such as Stani Kulechov of Aave and Jason Yanowitz of Blockworks, alongside experienced executives bringing operational and strategic expertise.

Such a combination of governance, knowledge and regulatory compliance helps mitigate the risks and opacity that have historically deterred institutional capital from crypto markets.

“I spent most of my career in what people now label traditional finance. I’ve worked in asset management and wealth management. I’ve worked on some of the largest trading desks in the world. So I think what I’ve learned over time is (that) surrounding yourself with smart people generally makes your job easier,’ Smith noted.

Ecosystem growth through strategic investment

Beyond simply holding AVAX, AVAT plans to actively support ecosystem expansion.

‘That could be owning a validator and running our own nodes, it could be running some volatility strategies using options or it could be investing equity into L1s and applications that are building on top of Avalanche.’

Through such treasury-backed infrastructure investments, Avalanche looks to deepen its network effects and catalyze sustainable adoption. This trend mirrors a larger institutional movement from companies like Strategy (NASDAQ:MSTR), which is developing a treasury strategy centered on Bitcoin accumulation, or BitMine Immersion Technologies (NYSEAMERICAN:BMNR) and firms such as Galaxy Digital (NASDAQ:GLXY), Jump Crypto and Multicoin Capital, which are introducing multibillion-dollar funds for Ether and Solana, respectively.

These treasury companies not only possess assets, but also make strategic investments to stimulate ecosystem expansion and institutional acceptance. This approach aligns with a broader industry trend of blockchain networks becoming foundational layers in the digitization of financial markets, supply chains and enterprise systems.

“I think the area that is undervalued in the success of Avalanche has been business and government adoption. Every week, there’s a story of major banks utilizing Avalanche infrastructure for their own business or stablecoin rails,’ said Smith. “You had the state of Wyoming issuing a state-issued stablecoin, the California DMV digitizing over 42 million car titles, corporate sponsors with Toyota Finance, FIFA, KKR, Apollo Global Management (NYSE:APO) and JP Morgan Chase & Co. (NYSE:JPM) using it in a variety of ways within their own financial service suite.”

While crypto asset markets remain volatile, AVAT adopts a diversified approach combining staking, liquidity provision and options strategies to balance yield generation with capital preservation.

“We want to create an all-weather portfolio that’s strategic in nature, and we’re thinking of an endowment or foundation approach, where we’re taking a multi-decade approach to some of our positions.”

A microcosm of broader institutional trends

AVAT exemplifies the evolving role of blockchain and crypto assets within the global financial system. Its journey from being a Layer 1 blockchain project to building a substantial treasury vehicle with public market access reflects a notable trend toward convergence between traditional finance and emerging decentralized technologies.

This theme resonates widely, as the financial industry witnesses the democratization and institutionalization of crypto through mechanisms like SPACs, regulated investment vehicles and hybrid governance models.

Meanwhile, the tokenization of real-world assets, corporate treasury adoption and blockchain integration into enterprise processes are collectively rewriting how value is stored, transferred and grows in modern markets.

By blending seasoned financial expertise with cutting-edge blockchain development, AVAT is carving a path for sustainable institutional investment in digital assets, demonstrating how blockchain innovation and traditional capital markets can mutually reinforce to support the next chapter of digital finance.

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

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Empire Metals Limited (LON: EEE, OTCQX: EPMLF), the AIM-quoted and OTCQX-traded resource exploration and development company, is pleased to announce that is has raised gross proceeds of £7 million by way of a subscription of 17,500,000 new ordinary shares of no par value in the capital of the Company at a price of 40 pence per ordinary share (the ‘Subscription Shares’) to existing institutional shareholders (the ‘Subscription’).

Rationale for the Subscription:

  • The Subscription funds will be used to maintain momentum across key workstreams including resource expansion, advanced metallurgical testwork, and the commencement of pilot-scale production in 2026, with the goal of delivering high-purity TiO2 product samples to potential end users and supporting preliminary engineering and economic studies.
  • Product development will additionally focus on routes to optimally produce lab and bulk samples of products for the titanium metal supply chain, such as TiCl4.
  • The Company will also deploy additional capital to strengthen its team for its next phase of development and to pursue value accretive corporate opportunities, including a possible dual listing on the ASX targeted for H1 2026, with Canaccord Genuity (Australia) expected to act as lead adviser.

Shaun Bunn, Managing Director, said:‘I am very pleased to announce the successful completion of this Subscription, which was executed at a premium to the current share price and reflects increased participation from our institutional shareholders in Asia andAustralia. This continued support underscores both the scale and strategic value of the Pitfield Project and strengthens the Company as we move into a critical phase or our development. With this Subscription, our cash position is now £11 million, providing a robust balance sheet to drive the next phase of development.’

Use of Funds
The proceeds of the Subscription together with existing cash reserves of £4 million will be primarily used for:

  • Exploration and Mineral Resource Drilling
  • Project Management and Project Development including:
    • General development related studies including environmental, social and marketing
    • Preliminary engineering and economic studies covering mining, process plant, infrastructure and energy
    • Metallurgical development including mineral separation and hydrometallurgical continuous piloting
  • Corporate overheads

Application for Admission and Total Voting Rights
The Subscription Shares will rank pari passu in all respects with the existing ordinary shares of no par value in the capital of the Company. Application has been made to the London Stock Exchange for the Subscription Shares to be admitted to trading on AIM (‘Admission’). It is expected that Admission will become effective at 8:00 a.m. on 5 November 2025. As a result of the issue of the Subscription Shares as described above, the issued share capital of the Company now consists of 710,893,221 ordinary shares of no-par value.

**ENDS**

For further information please visit www.empiremetals.com or contact:

Empire Metals Ltd

Shaun Bunn / Greg Kuenzel / Arabella Burwell

Tel: 020 4583 1440

S. P. Angel Corporate Finance LLP (Nomad & Broker)

Ewan Leggat / Adam Cowl

Tel: 020 3470 0470

Shard Capital Partners LLP (Joint Broker)

Damon Heath

Tel: 020 7186 9950

St Brides Partners Ltd (Financial PR)

Susie Geliher / Charlotte Page

Tel: 020 7236 1177

About Empire Metals Limited
Empire Metals Ltd (AIM: EEE and OTCQX: EPMLF) is an exploration and resource development company focused on the rapid commercialisation of the Pitfield Titanium Project, located in Western Australia. The titanium discovery at Pitfield is of unprecedented scale and hosts one of the largest and highest-grade titanium resources reported globally, with a Mineral Resource Estimate (MRE) totalling 2.2 billion tonnes grading 5.1% TiO₂ for 113 million tonnes of contained TiO₂.

The MRE, which covers only the Thomas and Cosgrove deposits, includes a weathered zone resource of 1.26 billion tonnes at 5.2% TiO₂ and a significant Indicated Resource of 697 million tonnes at 5.3% TiO₂, predominantly from the Thomas deposit. Titanium mineralisation at Pitfield occurs from surface and displays exceptional grade continuity along strike and down dip. The MRE extends across just 20% of the known mineralised footprint, providing substantial potential for further resource expansion.

Conventional processing has already produced a high-purity product grading 99.25% TiO₂, suitable for titanium sponge metal or pigment feedstock. The friable, in-situ weathered zone supports low-cost, strip mining without the need for blasting or overburden removal.

With excellent logistics and established infrastructure, including rail links to deep-water ports with direct access to Asia, the USA, Europe and Saudi Arabia, Pitfield is strategically positioned to supply the growing global demand for titanium and other critical minerals.

Empire is now accelerating the economic development of Pitfield, with a vision to produce a high-value titanium metal and/or pigment quality product at Pitfield, to realise the full value potential of this exceptional deposit.

The Company also has two further exploration projects in Australia; the Eclipse Project and the Walton Project in Western Australia, in addition to three precious metals projects located in a historically high-grade gold producing region of Austria.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

Source

Click here to connect with Empire Metals Limited (LON: EEE, OTCQX: EPMLF) to receive an Investor Presentation

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Critical Mineral Resources is pleased to report excellent progress at the Agadir-Melloul drilling programme, with visible mineralisation in over 60% of drill holes completed to date.Assay results from the current programme will be announced in mid-November. The company continues to pursue the dual strategy of an initial mine development alongside the discovery of a large scale, strategic resource.

Highlights

  • 20 drill holes completed, primarily focused on Zone 1 North
  • Over 60% of holes display visible copper mineralisation
  • Assay results expected mid-November
  • Continuous mineralisation over 750 meters along strike, and open to the south
  • Drilled area to date represents <1% of the 50km2 target limestone
  • On track to define sufficient resources for the Initial Mine by the end of Q1 2026, early Q2 2026
  • Dual strategy of Initial Mine development alongside large-scale exploration targeting a minimum of 20 million tonnes at 1.2% CuEq
  • Company-owned drill rig is in Moroccan waters and is due to arrive at site during December 2025, enhancing future drilling capacity

Drilling update

Since commencing in early September, 20 drill holes have been completed, mainly concentrated within Zone 1 North. Samples are currently being assayed at Afrilab in Marrakech, and we expect to receive results over the next two weeks. First assays will be published by mid-November.

Encouragingly, more than 60% of holes drilled have observable copper mineralisation, supporting the Company’s expectation of a near surface resource (in some areas at surface), averaging 2.0m to 2.5m in thickness and grading 1.0% to 1.2% copper equivalent.

Fig.1 Mineralised core

A close up of a hand holding a cylindrical objectAI-generated content may be incorrect.

From the northernmost section of Zone 1 North, mineralisation is continuous southwards for approximately 750m followed by a short approximately 300m interval of lower grade material, before returning to stronger mineralisation that remains open along strike to the south.

Figure 3 shows the area drilled thus far, shaded in dark grey. The drilled area represents less than 1% of the project’s 50km2 target limestone, highlighting the considerable exploration upside still to be realised.

Fig.2 Existing portfolio and current area of drilling

Fig.3 Drilled area in dark grey represents <1% of project’s 50km2

target limestone

Initial Mine

CMR is on track to delineate sufficient resources to underpin the Initial Mine development by the end of Q1 2026 or early Q2 2026.

Drilling across Zone 1 North and Zone 2 South will support a planned 650 to 1,000tpd operation, targeting a 2.5 to 3.0 million tonne reserve and an estimated 10 year initial mine life. Management expects to have delineated 3.0 million tonnes in resources by early 2026, enabling the commencement of the Initial Mine feasibility study in mid 2026. Construction is anticipated being in 2027.

Note: The Company’s earn-in agreement requires a minimum 650tpd operation; management is targeting 1,000 tpd.

Strategic Discovery

Alongside the Initial Mine, the company continues to pursue its broader exploration programme across the 80km2 project area, including 50km2 of target limestone. An Initial Exploration Target has been defined of 20 to 25 million tonnes at 1.2% CuEq, based on 5km2 of mineralisation at an average 2m thickness.

To accelerate this programme, CMR expects to be operating two diamond drill rigs before the end of 2025, with a third rig to be added as results dictate. The Company’s own drill rig, due to arrive during December 2025, will increase drilling productivity and reduce exploration costs. Once landed and cleared customs a separate announcement will be released with more details.

Charlie Long CEO commented:

“We are making fantastic progress in Morocco. Commencing drilling in early September to announcing first assays in mid-November represents excellent momentum on the ground. We remain firmly on track to initiate the Initial Mine feasibility study next year, while continuing to explore for a large-scale, strategic discovery.

Our understanding of the system at Agadir-Melloul continues to evolve. Only this week, we were excited by the discovery of a significant copper-silver vein, extending from a high-grade historical mining operation. While not our main target, this discovery adds further upside value, and could be a welcome source of blending ore in future.

Agadir Melloul is a large scale and highly prospective project, and we expect it to continue to deliver discoveries and positive results for the benefit of our shareholders, our joint venture partner and all stakeholders”

For further information, please contact:

Critical Mineral Resources PLC

Charles Long, Chief Executive Officer

info@cmrplc.com

AlbR Capital

Jon Belliss

+44 (0) 20 7399 9425

Notes To Editors

Critical Mineral Resources (CMR) PLC is focused on developing a sediment-hosted copper and silver project in Morocco. The macro strategy is to produce critical minerals for the global economy, including those essential for electrification and the clean energy revolution. Many of these commodities, including copper, are widely recognised as being at the start of a supply and demand supercycle.

CMR identified Morocco as an ideal mining-friendly jurisdiction that meets its acquisition and operational criteria. The country is perfectly located to supply raw materials to Europe and possesses excellent prospective geology, good infrastructure and attractive permitting, tax and royalty conditions. In 2023, CMR acquired an 80% stake in leading Moroccan exploration and geological services company Atlantic Research Minerals SARL. In 2025, CMR signed a definitive joint venture agreement to earn-in to 60% of the Agadir Melloul sediment hosted copper and silver project.

The Company is listed on the London Stock Exchange (CMRS). More information regarding the Company can be found at www.cmrplc.com

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The US Federal Reserve held its seventh meeting of 2025 from Tuesday (October 28) to Wednesday (October 29) amid growing division between doves and hawks as job market growth slows and the threat of higher inflation.

The central bank met analysts’ expectations by lowering the federal funds rate by 25 basis points to the 3.75 to 4 percent range. It marks the second time this year that the Fed has cut interest rates. Interest rates haven’t been below 4 percent since September 2022.

The Federal Reserve Board of Governors were reportedly split over those concerned with preventing a further slowdown in the US labor market and those fearing the fight against inflation is far from over. Lowering interest rates in turn lowers the cost of borrowing, which can provide businesses with more runway to grow their workforce. However, increasing the available money supply by easing access to borrowing can also increase inflation.

The September consumer price index (CPI) data showing inflation rose to 3.0 percent for the 12 months ending September after rising 2.9 percent over the 12 months ending August. Despite this higher inflationary environment, a weakening labor market has become the focus of the Fed’s dual mandate of stable prices and maximum employment.

The ongoing US government shutdown has delayed the release of key economic data, including the September US jobs report originally slated for publication on October 3.

Therefore, the most recent US jobs report comes from August. It indicates an increase of just 22,000 new workers, while the unemployment rate ticked up to 4.3 percent from 4.2 percent in July.

Until the government funding legislation is passed, all economic reports are on hold and the Federal Reserve is flying blind when it comes to planning the best course of action for the country’s economy.

Filling in the gaps, CNN reports that financial data firm FactSet has reported that the US added 50,000 jobs in September, while the unemployment rate held steady at 4.3 percent. While economists expect a pickup in jobs this time of year when the summer ends; however, compared to last year’s 240,000 jobs, this September’s gains are significantly weaker.

“Although official employment data for September are delayed, available evidence suggests that both layoffs and hiring remain low, and that both households’ perceptions of job availability and firms’ perceptions of hiring difficulty continue to decline in this less dynamic and somewhat softer labor market,” said Chair Jerome Powell. “The downside risks to employment appear to have risen in recent months.”

At the same time as its interest rate decision the Fed also announced a stop to its quantitative tightening activities as of December 1, 2025. For the past three years the independent government agency has been working to reduce its balance sheet from US$9 trillion in 2022 to US$6.6 trillion today. The move comes following recent stress signals in the short-term lending markets.

The next Fed interest rate decision will come on December 10, the last Fed meeting for 2025. In his speech to reporters, Powell strongly suggested another rate cut this year is not necessarily a given.

“In the committee’s discussions at this meeting, there were strongly differing views about how to proceed in December,” he said. “A further reduction in the policy rate at the December meeting is not a foregone conclusion. Far from it.”

Also by the end of the year, President Donald Trump intends to announce a replacement for Obama appointee Federal Reserve Chair Jerome Powell whose term expires in May 2026. Trump has been critical of the Fed and Powell in particular, saying they haven’t moved quickly enough to lower rates.

On Monday (October 27), US Treasury Secretary Scott Bessent announced a short list of candidates to replace Powell, including Fed Governors Christopher Waller and Michelle Bowman, National Economic Council Director Kevin Hassett, former Fed Governor Kevin Warsh, and BlackRock executive Rick Rieder.

The gold price rebounded nearly 2 percent to US$4,031.10 in the lead up to the rte decision, but quickly consolidated just below the US$4,000 mark to US$3,987.10 per ounce shortly after. Silver spiked as high as US$48.25 per ounce following the meeting, still trading near 14 year highs.

Lower interest rates leads to lower returns on fixed-income investments like bonds, which makes gold a more attractive investment.

Looking ahead, Mykuliak expects gold to trade within a range of US$3,900 and US$4,400

in the last quarter of the year. Further rate cuts or rising geopolitical tensions could push gold prices even further. “Into 2026, gold should maintain an upward trajectory, potentially gaining another 5 to 12 percent, as real rates decrease and central banks keep diversifying reserves,” she noted.

Equities were mixed on Wednesday, with the S&P 500 (INDEXSP:INX) down 0.56 percent to reach 6,871.47. Meanwhile, the Nasdaq-100 (INDEXNASDAQ:NDX) gained .21 percent to come in at 26,066, and the Dow Jones Industrial Average (INDEXDJX:DJI) down 0.72 percent, coming to 47,530.

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

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Forte Minerals Corp. (CSE: CUAU) (OTCQB: FOMNF) (FSE: 2OA) (‘Forte’ or the ‘Company’) is pleased to announce its participation in the 51st Annual New Orleans Investment Conference, taking place November 2-5, 2025, at the Hilton New Orleans Riverside.

Forte will be exhibiting, and the President & Chief Executive Officer, Patrick Elliott will present on Monday, November 3, 2025, from 9:50 am – 10:10 am (Presentation Area 2, Exhibit Hall).

Mr. Elliott will share an update on the Company’s copper and gold exploration projects and an overview of the growth strategy following a C$5.7 million strategic investment by a key investor in July and a second C$5.7 million strategic investment by another strategic partner announced this week.

Investors are also invited to visit Forte at Booth #202 throughout the conference.

The New Orleans Investment Conference brings together leading analysts, newsletter writers and investors to explore emerging opportunities across all major asset classes.

Register today at https://neworleansconference.com/online-registration.

Forte is excited to attend the Conference as part of its broader strategy to connect with investors, strengthen relationships, and showcase the Company’s fully funded growth plans.

Corporate Disclosure: The Company engaged Simply Pro Media to create and facilitate a broadcast advertising campaign on BNN Bloomberg, which ran from September 22, 2025, to November 14, 2025. The total cost of the campaign was approximately C$24,000.

ABOUT Forte Minerals CORP.

Forte Minerals Corp. is an exploration company with a strong portfolio of high-quality copper (Cu) and gold (Au) assets in Peru. Through a strategic partnership with GlobeTrotters Resources Perú S.A.C., the Company gains access to a rich pipeline of historically drilled, high-impact targets across premier Andean mineral belts. The Company is committed to responsible resource development that generates long-term value for shareholders, communities, and partners.

On behalf of Forte Minerals CORP.

(signed) ‘Patrick Elliott’
Patrick Elliott, MSc, MBA, PGeo
President & Chief Executive Officer

Forte Minerals Corp.
info@forteminerals..com
www.forteminerals.com
 
   
Investor Inquiries
Kevin Guichon, IR & Capital Markets
E: kguichon@forteminerals.com
C: (604) 612-9976
 Media Contact
Anna Dalaire, VP Corporate Development
E: adalaire@forteminerals.com
T: (604) 983-8847

 

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Certain statements included in this press release constitute forward-looking information or statements (collectively, ‘forward-looking statements’), including those identified by the expressions ‘anticipate’, ‘believe’, ‘plan’, ‘estimate’, ‘expect’, ‘intend’, ‘may’, ‘should’ and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements relating to the intended use of proceeds of the Strategic Placement. These forward-looking statements and information reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company with respect to the matter described in this press release. Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and risks and uncertainties is contained under ‘Risk Factors and Uncertainties’ in the Company’s latest management’s discussion and analysis, which is available under the Company’s SEDAR+ profile at www.sedarplus.ca, and in other filings that the Company has made and may make with applicable securities authorities in the future.

Forward-looking statements are not a guarantee of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include the continued availability of capital and financing, and general economic, market or business conditions. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. The Company assumes no responsibility to update or revise forward-looking information or statements to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company’s forward-looking statements.

Neither the Canadian Securities Exchange (the ‘CSE’) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this relea
se.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/272515

News Provided by Newsfile via QuoteMedia

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(TheNewswire)

Angkor Resources Corp.

GRANDE PRAIRIE, AB TheNewswire – (October 30, 2025): Angkor Resources Corp. (TSXV: ANK,OTC:ANKOF and OTC: ANKOF) (‘Angkor’ or ‘the Company’) announces approval from the TSX Exchange following its review of a proposed ‘shares for debt’ transaction for an aggregate $1,922,800 debt owed by the Company to certain creditors (the ‘ Debt Transactions ‘).

The Company issued an announcement on September 23, 2025 regarding shares for debt and removal of $1,922,000 of debt reduced from the balance sheet for certain creditors.   The Debt Transactions were subject to TSX approval and the TSX Exchange has approved the transactions and the issuance of 9,156,190 shares at $.21 each and 4,131,667 warrants. Each full Warrant is exercisable to purchase a common share at 0.30 for a period of 24 months from the date of issuance. The warrants shall be subject to an acceleration clause.  In the event that the Company’s shares trade at $0.40 per share or above for a period of 10 consecutive trading days, a forced exercise provision will come into effect for the warrants issued in connection with this offering.

The Common Shares to be issued will be subject to a hold period of four months and one day following the date of issuance, in accordance with applicable securities laws and TSXV policies.  With the review by the TSX Exchange complete, the transaction will now close and is considered complete.

ABOUT Angkor Resources CORPORATION:

Angkor Resources Corp. is a public company, listed on the TSX-Venture Exchange, and is a leading resource optimizer in Cambodia working towards mineral and energy solutions across Canada and Cambodia. ANGKOR’s carbon capture and gas conservation project in Saskatchewan, Canada is part of its long-term commitment to Environmental and Social projects and cleaner energy solutions across jurisdictions.

The company’s mineral subsidiary, Angkor Gold Corp. in Cambodia holds two mineral exploration licenses in Cambodia and its Cambodian energy subsidiary, EnerCam Resources, was granted an onshore oil and gas license of 7300 square kilometers in the southwest quadrant of Cambodia called Block VIII.  The license was reduced to roughly half the size with the Company’s voluntary removal of all parks and protected areas in March 2025 and the subsequent addition of 220 square kilometres in the northeast corner, finalizing a size of 4095.1 square kilometers.

Since 2022, Angkor’s Canadian subsidiary, EnerCam Exploration Ltd., has been involved in gas/carbon capture and oil and gas production in Evesham, Saskatchewan.

CONTACT: Delayne Weeks – CEO

Email: info@angkorresources.com Website: angkor resources.com

Telephone: +1 (780) 831-8722

Please follow @AngkorResources on , , , Instagram and .

Certain information set out in this news release constitutes forward-looking information within the meaning of applicable securities laws. Forward-looking information is often, but not always, identified by the use of words such as ‘seek’, ‘anticipate’, ‘hope’, ‘plan’, ‘continue’, ‘estimate’, ‘expect’, ‘may’, ‘will’, ‘intend’, ‘could’, ‘might’, ‘should’, ‘scheduled’, ‘believe’ and similar expressions. The forward- looking information set out in this news release relates to future events or our future performance and includes, without limitation statements concerning the Shares for Debt Transaction, Angkor’s ability to obtain all necessary approvals in respect of the Shares for Debt Transaction and the participation of certain insiders and management in the Shares for Debt Transaction.

Although the forward-looking information contained in this news release is based upon what management of Angkor believes are reasonable assumptions on the date of this news release, Angkor cannot assure readers that actual results will be consistent with such forward-looking information. Forward-looking information involves substantial known and unknown risks, uncertainties and other factors which cause actual results to vary from those expressed or implied by such forward looking information, including without limitation those risks and uncertainties described in more detail in Angkor’s securities filings available at www.sedarplus.ca . Forward-looking information should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved.

The forward-looking information contained in this news release is provided as of the date hereof. Angkor disclaims any intention or obligation to update or publicly revise any forward–looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws. All forward-looking information contained in this news release is expressly qualified in its entirety by the foregoing cautionary statements.

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


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Surface Metals Inc. (CSE: SUR,OTC:SURMF) (OTCQB: SURMF) (the ‘Company’, or ‘Surface Metals’) is pleased to provide a corporate update as gold prices have reached all-time highs in 2025 and the Company advances its portfolio of gold and lithium assets in North America.

‘Gold is reaffirming its place as the ultimate store of value,’ stated Steve Hanson, President and CEO of Surface Metals. ‘For Surface Metals, this environment represents a rare opportunity. The economics of every ounce we discover at our Cimarron Gold Project improve dramatically as gold continues to appreciate. With this historic strength in the gold market, we are advancing exploration at precisely the right time.’

Cimarron Gold Project – Nevada, USA

Located in Nye County, Nevada, the Cimarron Gold Project remains the Company’s primary near-term value driver. Surface Metals holds a 90% interest in 31 unpatented lode mining claims covering approximately 260 acres within the historic San Antonio / Tonopah mining district.

The Cimarron Project hosts multiple high-grade gold intercepts, supported by more than 190 historical drill holes. Mineralization remains open in many directions, indicating strong potential for expansion. Historic non-NI 43-101 estimates outlined roughly 50,000 ounces of contained gold, which the Company intends to update and potentially expand through further exploration.

‘Our technical team is reviewing drill targets and preparing a focused program designed to expand known mineralization and establish a compliant 43-101 resource,’ said Steve Hanson. ‘Cimarron sits in the historic Walker Lane trend, at the intersection of strong geology, extensive mineralization, in one of the pre-eminent mining districts globally.’ In April 2025, Surface Metals completed the acquisition of its 90% interest in the project.

Clayton Valley Lithium Brine Project – Building Scale in Nevada

Surface Metals’ Clayton Valley Lithium Brine Project, located adjacent to Albemarle’s Silver Peak Mine – the only producing lithium brine operation in the United States – continues to advance toward its next phase of development.

Surface Metals’ project currently hosts an inferred resource of approximately 302,900 tonnes of lithium carbonate equivalent (LCE) across a 2,230-acre land package.

‘The global transition to electric mobility and energy storage continues to drive long-term lithium demand,’ added Hanson. ‘Our Clayton Valley project benefits from its strategic location within a proven lithium district and close proximity to end users.’

Beyond Clayton Valley, Surface Metals maintains a diverse portfolio of lithium exploration projects across North America:

  • Fish Lake Valley, Nevada: A 1,694-acre claystone and sedimentary lithium project prospective for near-surface lithium-bearing horizons, directly next to Ioneer’s world class lithium boron mine expected to go into construction in 2026.

Surface Metals’ lithium strategy provides shareholders with exposure to multiple deposit types across tier-one jurisdictions. This diversity positions Surface Metals to capture value across the evolving battery metals supply chain.

Surface Metals’ focus remains disciplined with plans to advance Cimarron through resource definition drilling and expansion, advance and develop our lithium resource base, and position the Company for future development or partnership opportunities.

About Surface Metals Inc.

Surface Metals Inc. (CSE: SUR,OTC:SURMF) (OTCQB: SURMF) is a North American mineral exploration company focused on advancing a diversified portfolio of gold and lithium projects in Nevada, USA, and Manitoba, Canada. The Company’s Cimarron Gold Project is located in Nye County, Nevada, in a historically productive gold district. It’s Clayton Valley Lithium Brine Project hosts an inferred resource of approximately 302,900 tonnes LCE adjacent to Albemarle’s Silver Peak Mine. Surface Metals also holds additional lithium assets in Fish Lake Valley, Nevada, and through a joint venture with Snow Lake Energy in southeastern Manitoba.

For more information, please visit: www.surfacemetals.com.

On behalf of the Board of Directors

Steve Hanson
Chief Executive Officer, President, and Director
Telephone: (604) 564-9045
info@surfacemetals.com

Neither the CSE nor its regulations service providers accept responsibility for the adequacy or accuracy of this news release. This news release contains certain statements which may constitute forward-looking information within the meaning of applicable securities laws (‘forward-looking statements’). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects,’ ‘plans,’ ‘anticipates,’ ‘believes,’ ‘intends,’ ‘estimates,’ ‘projects,’ ‘potential’ and similar expressions, or that events or conditions ‘will,’ ‘would,’ ‘may,’ ‘could’ or ‘should’ occur and in this news release include but are not limited to the attributes of, timing for and expected benefits to be derived from exploration, drilling or development at Surface’s project properties. Information inferred from the interpretation of drilling, sampling and other technical results may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. Surface’s project location adjacent to or nearby other mineral projects does not guarantee exploration success or that mineral resources or reserves will be defined on Surface’s properties. Exploration, development, and activities conducted by regional companies provide assistance and additional data for exploration work being completed by Surface. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company’s properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from the Company’s operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Unless otherwise indicated, the market and industry data contained herein is based upon information from industry and other publications and the knowledge and experience of management. While we believe that this data is reliable, market and industry data is subject to variations and cannot be verified with complete certainty due to limits on the availability and reliability of raw data, the voluntary nature of the data gathering process and other limitations and uncertainties inherent in any statistical survey. We have not independently verified any of the data from third-party sources referred to in this news release or ascertained the underlying assumptions relied upon by such sources. With regard to the Cimarron Project potential quantity and grade of mineralization described is conceptual in nature as there has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in targets being delineated as a mineral resource. Surface Metals has not undertaken any independent verification of drill results from historical drilling not completed by Surface Metals. Surface Metals has not independently analyzed the results of the historical exploration work in order to verify the results and believes that the historical drill results may not all conform to the presently accepted industry standards and as such should not be relied upon by the reader. Surface Metals Inc. considers these historical drill results relevant as Surface Metals Inc. will use this data as a guide to plan future exploration programs. Surface Metals Inc. also considers the data to be reliable for these purposes, however, Surface Metal Inc.’s future exploration work will include verification of the data through drilling. All technical and scientific disclosure pertaining to our mineral property interests in this news release have been reviewed by a Qualified Person, meaning an individual who is an engineer or geoscientist with at least five years of experience in mineral exploration, mine development or operation or mineral project assessment, or any combination of these; has experience relevant to the subject matter of the mineral project and the technical report; and is a member or licensee in good standing of a professional association.

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Bold Ventures Inc. (TSXV: BOL,OTC:BVLDF) (the ‘Company’ or ‘Bold’) is pleased to provide links to yesterday’s Government of Ontario’s Ring of Fire news conference and news release. These developments signal progress with the access, infrastructure and First Nation partnerships in the Ring of Fire area, where Bold Ventures’ Koper Lake Project is situated.

Ring of Fire News Conference video

Government of Ontario Ring of Fire News Release

Bold’s Koper Lake Project in the Ring of Fire

The Black Horse is part of the Koper Lake Project where Canada Chrome Corporation (CACR.V) is the Operator of the chromite joint venture exploration effort.

Bold owns a 10% carried interest (through to production) in the Black Horse Chromite NI 43-101 Inferred Resource of 85.9 Mt grading 34.5% Cr2O3 at a cut-off of 20% Cr2O3 (KWG Resources Inc., NI 43-101 Technical Report, Aubut 2015). Bold also owns a 40% working interest in all other metals found within the Koper Lake claims and has a Right of First Refusal on a 1% NSR covering all metals found within the claim group.

The Black Horse is contiguous with the Blackbird Chromite deposits owned by Ring of Fire Metals (formerly Noront Resources Inc.). The Koper Lake claims are located approximately 300m from their Eagle’s Nest Ni-Cu Massive Sulphide Deposit that is in the permit acquisition stage. Chromite, nickel and copper are critical minerals that will play an important role in the electrification plans of Ontario and North America. The Company is encouraged by these ongoing developments in this emerging critical mineral mining camp.

The environmental assessment process for all-weather road access to the Ring of Fire is being developed as three proposed road projects: the Northern Road Link, the Marten Falls Community Access Road and the Webeque Supply Road. Information and progress regarding these projects may be accessed via the links provided on Bold’s critical and battery minerals page.

Burchell Gold and Copper Project

The recent mechanical stripping, mapping and channel sampling effort at the Burchell Gold and Copper Project is drawing to a close. The field crew expects to complete the program in the coming days.

There has been additional recent news from the Burchell Gold and Copper project area. Bold’s neighbour Gold X2 continues to consolidate ground proximal to the Burchell property. The details may be found at Gold X2 property purchase October 28, 2025.

Bold Ventures management believes our suite of Battery, Critical and Precious Metals exploration projects are an ideal combination of exploration potential meeting future demand Our target commodities are comprised of: Gold (Au), Copper (Cu), Nickel (Ni), Lead (Pb), Zinc (Zn), Silver (Ag), Platinum (Pt), Palladium (Pd) and Chromium (Cr). The Critical Metals list and a description of the Provincial and Federal electrification plans are posted on the Bold website here.

About Bold Ventures Inc.

The Company explores for Precious, Battery and Critical Metals in Canada. Bold is exploring properties located in active gold and battery metals camps in the Thunder Bay and Wawa regions of Ontario. Bold also holds significant assets located within and around the emerging multi-metals district dubbed the Ring of Fire region, located in the James Bay Lowlands of Northern Ontario.

For additional information about Bold Ventures and our projects please visit boldventuresinc.com or contact us at 416-864-1456 or email us at info@boldventuresinc.com.

‘Bruce A MacLachlan’ 
Bruce MacLachlan 
President and COO 

Direct line: (705) 266-0847

Email: bruce@boldventuresinc.com

‘David B Graham’
David Graham
CEO

 

Neither 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 release.

Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words ‘may’, ‘would’, ‘could’, ‘will’, ‘intend’, ‘plan’, ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’ and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION
IN THE UNITED STATES

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  • Strong mineralisation along the Contact Zone Fault (‘CZ Fault’) confirmed with multiple broad gold intercepts, including 10.0 m at 2.50 g/t Au and 11.0 m at 0.51 g/t Au at the Road Cut Zone
  • High-grade near-surface intersections such as 1.0 m at 17.30 g/t Au at the Jagger Zone underscore the strength of gold-bearing shears and continuity within the Jagger structural corridor
  • Excellent down-dip and along-strike continuity demonstrated across a 300-m section of the CZ Fault, reinforcing the Company’s structural model and confirming the growth potential of the Kossou Gold Project

Kobo Resources Inc. (‘ Kobo’ or the ‘ Company ‘) ( TSX.V: KRI ) is pleased to report additional diamond drill results from its ongoing program at the 100%-owned Kossou Gold Project (‘ Kossou ‘) in Côte d’Ivoire, West Africa.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251030239742/en/

Figure 1: Road Cut Zone Drill Hole Location Map and Simplified Geology

Figure 1: Road Cut Zone Drill Hole Location Map and Simplified Geology

Diamond Drill Results Highlights:

Road Cut Zone:

  • KDD0104
    • 7.0 metres (‘m’) at 1.20 g/t Au from 72.0 m
    • 13.0 m at 1.49 g/t Au from 93.0 m
  • KDD0109
    • 10.0 m at 2.50 g/t Au from 41.0 m, incl. 6.0 m at 3.77 g/t Au from 45.0 m
    • 10.0 m at 1.86 g/t Au from 204.0 m
    • 11.0 m at 0.51 g/t Au from 229.0 m

Jagger Zone

  • KDD0100
    • 1.0 m at 17.30 g/t Au from 38.0 m
    • 1.0 m at 3.72 g/t Au from 94.0 m
    • 9.0 m at 1.04 g/t Au from 172.0 m
    • 11.0 m at 1.26 g/t Au from 188.0 m

Edward Gosselin, CEO and Director of Kobo commented: ‘The latest results continue to confirm strong, continuous gold mineralisation along the Contact Zone Fault. These results also further define parallel gold-bearing shears within both the Road Cut Zone and Jagger Zone structural corridors, reinforcing our confidence in the scale and continuity of the system.’ He continued: ‘The new drilling has outlined broad mineralised zones with strong down-dip continuity and encouraging grades near surface and at depth, all consistent with our geological model for Kossou. Together, these results continue to strengthen our view that Kossou hosts a robust and growing gold system with significant potential for resource expansion as drilling progresses.’

Road Cut Zone Highlights

Drilling at the Road Cut Zone targeted a 300-m strike length between sections RCZ400 and RCZ700 , with results confirming mineralisation along and adjacent to the CZ Fault. Boreholes KDD0104 and KDD0109 on section RCZ600 returned some of the strongest results to date:

  • KDD0109 intersected 10.0 m at 2.50 g/t Au from 41.0 m, including 6.0 m at 3.77 g/t Au from 45.0 m, as well as 10.0 m at 1.86 g/t Au from 204.0 m and 11.0 m at 0.51 g/t Au from 229.0 m.
  • KDD0104 returned 13.0 m at 1.49 g/t Au from 93 m and 7.0 m at 1.20 g/t Au from 72 m, located approximately 20 m west of the CZ Fault.

The mineralised intersections in boreholes KDD0104 and KDD0109 along the CZ Fault are comparable in both grade and thicknesses reported previously in borehole KDD0098 . This hole shows a good degree of consistency and continuity down dip of the prominent shear zone.

The upper mineralised intersection of 10.0 m at 2.50 g/t Au in KDD0109 also confirms an excellent down-dip continuity of gold mineralisation first identified in hole KDD0014 (9.0 m at 4.27 g/t Au) , establishing a robust, gold-bearing structure up to 175.0 m from the main fault.

Additional intercepts along the CZ Fault include 10.0 m at 0.55 g/t Au and 5.0 m at 1.75 g/t Au in KDD0102 , while KDD0105 returned a 1 m interval at 5.05 g/t Au associated with quartz veining south of RCZ600 . Collectively, the Road Cut Zone results confirm consistent gold mineralisation along a 150-200 m section of the CZ Fault, highlighting its potential as a major first-order control on mineralisation.

Jagger Zone Highlights

Drilling at the Jagger Zone was completed across two 50-m sections (JZ750 and JZ800) , designed to test continuity within the central shear and southern extensions of the zone.

  • KDD0100 intersected 1.0 m at 17.30 g/t Au from 38.0 m , 9.0 m at 1.04 g/t Au from 172.0 m , and 11.0 m at 1.26 g/t Au from 188.0 m , demonstrating higher grades and continuity within the core of the Jagger shear zone compared to earlier holes (e.g., KDD0031 – 4.0 m at 3.26 g/t Au ).
  • KDD0106 returned 3.3 m at 0.96 g/t Au from 62.7 m near surface, confirming the presence of mineralised shears along the southern continuation of Structure 6.

Although shallow holes KDD0106 and KDD0108 intersected lower-grade mineralisation, results at depth confirm that well-defined shears persist below 200 m , warranting follow-up drilling to extend these high-grade zones down dip.

Table 1: Summary of Significant Diamond Drill Hole Results

BHID

East

North

Elev.

Az.

Dip

Depth

From
(m)

To
(m)

Int. (m)

Au (g/t)

Target

KDD0100

228942

775108

386

70

-50

413.40

19

21

2

0.38

Jagger

38

39

1

17.30*

Jagger

94

95

1

3.72

Jagger

114

116

2

0.35

Jagger

172

181

9

1.04

Jagger

incl.

172

178

6

1.47

Jagger

188

199

11

1.26

Jagger

347

351

4

0.83

Jagger

357

359

2

0.79

Jagger

KDD0101

228459

776315

244

70

-50

236.30

39

41

2

11.45

RCZ

133

137

4

0.42

RCZ

199

201.2

2.2

1.11

RCZ

219

221

2

1.53

RCZ

KDD0102

228490

776220

242

70

-50

251.30

153

155

2

0.73

RCZ

159

162

3

0.74

RCZ

185

195

10

0.96

RCZ

212

217

5

1.75

RCZ

KDD0103

228941

775054

386

70

-50

329.40

184

186

2

0.69

Jagger

203

206

3

1.05

Jagger

229

233

4

0.50

Jagger

245

255

10

0.31

Jagger

265

267

2

0.36

Jagger

KDD0104

228613

776212

201

70

-50

134.30

43

50

7

0.62

RCZ

incl.

45

47

2

1.09

RCZ

72

79

7

1.20

RCZ

93

106

13

1.49

RCZ

KDD0105

228645

776170

216

70

-50

164.30

92

93

1

5.05*

RCZ

KDD0106

229199

775148

309

70

-50

122.40

13

14

1

13.20*

Jagger

35

41

6

0.70

Jagger

62.7

66

3.3

0.96

Jagger

102

104

2

1.11

Jagger

116

118

2

1.00

Jagger

KDD0107

228672

776127

232

70

-50

179.30

No Significant Intersections

RCZ

KDD0108

229145

775182

324

70

-50

152.40

No Significant Intersections

RCZ

KDD0109

228501

776171

241

70

-50

266.30

41

51

10

2.50

RCZ

incl.

45

51

6

3.77

RCZ

incl.

50

51

1

13.50

RCZ

192

198

6

0.67

RCZ

204

214

10

1.86

RCZ

221

223

2

0.56

RCZ

229

240

11

0.51

RCZ

246

247

1

6.94*

RCZ

Notes:

Cut-off using 2.0 m at 0.30 g/t Au

Intervals are reported with no more than 3.0 m of internal dilution of less than 0.30 g/t Au except where indicated with *

An accurate dip and strike and controls of mineralisation are unconfirmed and mineralised zones are reported as downhole lengths. Drill holes are planned to intersect mineralised zones perpendicular to interpreted targets. All intercepts reported are downhole distances, true widths are unknown.

Sampling, QA/QC, and Analytical Procedures

Drill core was logged and sampled by Kobo personnel at site. Drill cores were sawn in half, with one half remaining in the core box and the other half secured into new plastic sample bags with sample number tickets. Core samples are drilled using HQ core barrels to below the level of oxidation and then reduced to NQ core barrels for the remainder of the bore hole. Samples are transported to the SGS Côte d’Ivoire facility in Yamoussoukro by Kobo personnel where the entire sample was prepared for analysis (prep code PRP86/PRP94). Sample splits of 50 grams were then analysed for gold using 50g Fire Assay as per SGS Geochem Method FAA505. QA/QC procedures for the drill program include insertion of a certificated standards every 20 samples, a blank every 20 samples and a duplicate sample every 20 samples. All QAQC control samples returned values within acceptable limits.

Review of Technical Information

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

About Kobo Resources Inc.

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

With over 24,411 metres of diamond drilling, nearly 5,900 metres of reverse circulation (RC) drilling, and 5,900 metres of trenching completed since 2023, Kobo has made significant progress in defining the scale and prospectivity of its Kossou’s Gold Project. Exploration has focused on multiple high-priority targets within a 9+ km strike length of highly prospective gold-in-soil geochemical anomalies, with drilling confirming extensive mineralisation at the Jagger, Road Cut, and Kadie Zones. The latest phase of drilling has further refined structural controls on gold mineralisation, setting the stage for the next phase of systematic exploration and resource development.

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

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

Cautionary Statement on Forward-looking Information:

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20251030239742/en/

For further information, please contact:

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

Twitter: @KoboResources | LinkedIn: Kobo Resources Inc.

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