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Mali Court Adjourns Barrick’s Gold Complex Hearing Over Deepening Taxes, Control Dispute

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A Malian court has postponed a critical decision on whether to place Barrick Mining’s (TSX:ABX,NYSE:B) flagship Loulo-Gounkoto gold complex under provisional administration

The move intensifies an already fraught standoff between the Canadian miner and Mali’s military-led government.

The delay, confirmed to Reuters on Monday (June 2) by the court’s registry office and a lawyer involved in the case, follows the Malian government’s formal request on May 8 for the Bamako Commercial Court to appoint an interim administrator to take over daily operations of the gold complex.

The court was originally expected to rule on the matter on Monday, after hearing formal opposition from Barrick’s Malian subsidiaries during a preliminary hearing on May 15.

The dispute centers on Mali’s 2023 mining code, which raised taxes and granted the government a larger stake in mining operations. While the government has since renegotiated terms with other multinational miners, Barrick has resisted transitioning to the new regime, maintaining that its existing agreements remain legally binding.

Loulo-Gounkoto — one of Mali’s largest gold producers — has been inactive since January, when the government seized approximately 3 metric tons of gold, citing alleged unpaid taxes.

Since November 2024, Malian authorities have blocked gold exports from the site, with the standoff escalating amid a gold price surge. Gold has jumped 28.5 percent year-to-date, hitting an all-time high of US$3,500.05 per ounce in April.

Barrick, formerly known as Barrick Gold, has publicly opposed the government’s efforts to take control of its assets, calling the move “without precedent or lawful justification.” In a statement dated May 26, the company said the attempt to install a provisional administrator disregards its rights under Malian law and international agreements.

“There is no basis — either in law or in practice — for the day-to-day operations at Loulo-Gounkoto to be handed over to a court-appointed interim administrator,” Barrick said. “This action undermines the principles of due process and mutual respect that should govern partnerships between sovereign states and long-term investors.”

Tensions have been further inflamed by the detention of four Barrick employees since November 2024, and the issuance of an arrest warrant for Chief Executive Mark Bristow in December of the same year.

According to a court document, the charges include money laundering and financing of terrorism. Barrick has rejected the accusations, but has not elaborated on their specifics.

Despite the suspension of mining activities, Barrick says it continues to support its workforce, paying wages and maintaining operations on a monthly basis. The company has reiterated that it remains open to resuming talks with the government to secure the release of its detained employees and restart operations.

In its May 26 release, Barrick notes that in a recent letter to Mali’s minister of economy and finances, the company emphasized its “availability to resume discussions on the terms of a satisfactory agreement,” which would allow for a resolution that serves the interests of employees, the state and all stakeholders.

Mali, Africa’s third largest gold producer, relies heavily on mining for export earnings and revenue. Barrick, which has operated in Mali for nearly 30 years, has initiated international arbitration under the terms of its mining conventions.

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

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China’s Breakthrough in Uranium Seawater Extraction Boosts Efficiency by 40 Times

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Chinese researchers have unveiled a method of extracting uranium from seawater at a fraction of the previous cost and energy use, positioning the country to potentially secure long-term domestic supply.

Scientists from Hunan University have developed an advanced electrochemical system that can extract uranium from seawater more efficiently and economically than any method currently in use.

The innovation, led by Professor Shuangyin Wang and his team, features a novel dual-electrode design using copper at both the positive and negative terminals, allowing uranium ions to be collected simultaneously at both ends.

The system achieved a 100 percent extraction rate from a synthetic seawater solution within 40 minutes — a remarkable leap from earlier physical adsorption methods, which typically extract less than 10 percent.

When tested with natural seawater, the device extracted all uranium from East China Sea samples and up to 85 percent from South China Sea water, reaching 100 percent in the latter case with larger electrodes.

It accomplished these results while consuming over 1,000 times less energy than existing electrochemical systems. The total cost was estimated at US$83 per kilogram of uranium — half the cost of physical adsorption (US$205 per kilogram) and nearly one-fourth that of previous electrochemical approaches (US$360 per kilogram).

The implications for China’s energy security could be substantial.

According to the International Energy Agency, China is building more nuclear power plants than any other country, and is expected to surpass the US and EU in installed nuclear capacity by 2030.

However, much of the uranium needed to fuel this growth is imported. In 2024, China imported 13,000 metric tons of uranium, compared to just 1,700 tonnes mined domestically.

Given the estimated 4.5 billion metric tons of uranium dissolved in the world’s oceans — over 1,000 times the amount in terrestrial reserves — seawater extraction has long been seen as a tantalizing, but technologically elusive solution.

Japan led early efforts in the 1980s and 1990s, extracting 1 kilogram of uranium using large-scale marine trials, a milestone that China is now poised to eclipse. The new electrochemical technique builds on recent momentum in China’s marine uranium research. In March of this year, scientists from Lanzhou University’s Frontiers Science Center for Rare Isotopes published a separate study detailing a breakthrough in uranium-vanadium separation, a major technical challenge due to the similar chemical properties of the two elements in seawater.

The Lanzhou team engineered a metal-organic framework (MOF) material embedded with diphenylethylene molecules that can change pore sizes under ultraviolet light.

This enabled the MOF to selectively attract uranium ions over vanadium, increasing uranium adsorption capacity to 588 milligrams per gram, and improving uranium-vanadium separation efficiency by 40-fold.

Their uranium selectivity factor reached 215 — the highest ever reported in natural seawater.

Both research efforts support China’s national nuclear strategy. In 2019, China National Nuclear partnered with 14 domestic research institutions to establish the Seawater Uranium Extraction Technology Innovation Alliance.

This government-backed initiative set ambitious milestones: match Japan’s kilogram-level extraction record by 2025, build a metric ton-scale demonstration plant by 2035 and reach continuous industrial production by 2050.

The alliance’s work is driven by projections from the International Atomic Energy Agency, which forecasts that China’s uranium demand will exceed 40,000 metric tons annually by 2040. Marine extraction, if scaled successfully, could ease long-term supply pressures and reduce geopolitical risk tied to uranium imports.

Of course, despite promising lab results, transitioning to industrial-scale extraction poses engineering and economic hurdles. For example, scaling up the Hunan system would involve increasing the number and size of electrochemical cells and managing flow rates across larger volumes of seawater.

If successful, the innovation could revolutionize the global uranium market. By tapping into the ocean’s near-limitless uranium reserves, China could not only meet its own needs, but also shift the geopolitical dynamics of nuclear energy.

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

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Bird Flu Vaccine Stocks: 8 Companies Developing H5N1 Vaccines

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Life science companies developing bird flu vaccines and antivirals are gaining attention as the avian influenza subtype H5N1 becomes an increasing concern.

The United States is in the midst of an H5N1 bird flu outbreak that began in February 2024 and is now threatening the nation’s poultry and cattle industries. With poultry farmers across the US needing to cull their flocks if the virus is detected to prevent it spread, egg prices are shocking shoppers at the country’s grocery stores. Highly pathogenic avian influenza (HPAI) has also spread to cattle and other mammals, including cats.

Human avian influenza cases have so far been rare during this outbreak in the US, as currently the virus is only spread to humans through exposure to infected animals. As of May 30, 2025, 70 human cases have been detected in the country, and one death has been reported. However, concerns such as the possibility of mutations that could increase the chance of human-to-human transmission are stoking calls for better preparedness and access to bird flu vaccines.

In this article:

    Is there a vaccine for bird flu?

    There are several bird flu vaccines approved for treating avian influenza in humans, with others under development.

    The Center for Disease Control and Prevention (CDC), a US federal agency under the Department of Health and Human Services, currently holds three different US Food and Drug Administration (FDA) approved vaccines in its strategic national stockpile that can be rapidly updated to address the current strain.

    In the United States, the vaccines would be reserved for workers in the poultry industry if human cases escalate and could be scaled up further if needed in the case of a bird flu pandemic in humans.

    Health Canada has authorized two H5N1 vaccines and laid out a framework for deciding whether to use the vaccines in a non-pandemic context, including increased human cases, human-to-human transmission and increasing severity of outcomes.

    Which companies are producing vaccines for bird flu?

    Some of the biggest companies in the pharmaceutical industry are either producing vaccines for bird flu or actively developing new drug candidates to fight the virus. There are also a number of large-cap and small-cap life science companies with avian influenza vaccines under development.

    Below are nine bird flu vaccine stocks for investor consideration and details of their work on avian influenza. The stocks are listed by market cap based on figures retrieved from TradingView’s stock screener on June 2, 2025.

    1. Pfizer (NYSE:PFE)

    Market cap: US$132.87 billion

    Pfizer is a world-renowned research pharmaceutical company developing drugs in a wide range of areas, including oncology, inflammation and immunology, vaccines, internal medicine and rare diseases. Pfizer and BioNTech created the first FDA-approved mRNA-based COVID-19 vaccine in 2020.

    Pfizer’s mRNA technology could be targeted at producing an avian flu vaccine. In a May 2024 press release, the company stated that it is prepared to address an H5 group influenza pandemic, and reported that in late 2023 it had ‘initiated a randomized Phase 1 study to evaluate the safety, tolerability, and immunogenicity of multiple doses of nucleoside-modified mRNA (modRNA) based pandemic influenza vaccine candidate.’

    2. Sanofi (NASDAQ:SNY)

    Market cap: US$121.34 billion

    Sanofi develops therapeutic products for diabetes and cardiovascular diseases, oncology, immunology, multiple sclerosis, rare diseases, and rare blood disorders. The French multinational pharmaceutical company is also one of the world’s largest manufacturers of vaccines.

    Sanofi’s H5N1 vaccine became the first to be approved by the US FDA back in 2007. Today, it is one of only three US FDA-approved H5N1 vaccines held in the US national stockpile, joined by vaccines from two other pharma firms on this list, CSL Seqirus and GSK.

    In October 2024, the three pharma companies were awarded a combined US$72 million by the US Administration for Strategic Preparedness and Response. The companies will prepare doses of their vaccines to be available if needed, and ‘manufacture additional bulk influenza antigen … from seed stocks that are well matched to circulating strains.’

    3. GSK (NYSE:GSK)

    Market cap: US$83.85 billion

    British multinational biotech company GSK has three main business divisions: pharmaceuticals, consumer healthcare and vaccines. Its vaccine Arexvy is the world’s first respiratory syncytial virus (RSV) vaccine for older adults and is approved for ages 50 and up.

    GSK subsidiary ID Biomedical Corporation of Quebec produces Arepanrix, an H5N1 virus monovalent vaccine, is among the three avian flu vaccines in the US stockpile.

    “GSK’s H5N1 pandemic vaccine can generate some cross-neutralizing antibodies against the current circulating strains and is recognized as an important tool in reducing illness during a possible H5N1 pandemic,” a GSK spokesperson told PharmaVoice. “The vaccine is designed to be updated with the latest circulating strain of interest, as identified by the WHO.”

    In February 2025, the Public Health Agency of Canada announced that through an existing deal with GSK, it has secured an initial supply of 500,000 doses of its avian influenza vaccine.

    GSK also has a mRNA-based H5N1 pre-pandemic vaccine in Phase 2 studies for adults 18 and older. GSK’s mRNA candidate vaccines were previously being developed in partnership with German biopharma CureVac, another company on this list. However, the two restructured the partnership in July 2024, and GSK now has full rights to development, manufacturing and commercialization.

    4. CSL (ASX:CSL,OTCQX:CMXHF)

    Market cap: US$77.54 billion

    Australian multinational biotechnology firm CSL is the parent company of CSL Seqirus, one of the world’s largest influenza vaccine makers. CSL Seqirus has production facilities in the United States, the United Kingdom and Australia.

    CSL Seqirus’ Audenz is among the three avian flu vaccines that make up US stockpiles. The company describes Audenz, which the FDA approved in 2020, as ‘the first-ever adjuvanted, cell-based influenza vaccine designed to protect against influenza A (H5N1) in the event of a pandemic.’

    CSL Seqirus has a manufacturing facility in North Carolina that was built through a public-private partnership with the US government in 2009. According to the company, the facility is the world’s largest cell-based influenza vaccine producer and its highly scalable production method means it’s capable of delivering 150 million influenza vaccine doses within a six-month timeframe as part of an influenza pandemic response.

    5. Moderna (NASDAQ:MRNA)

    Market cap: US$10.37 billion

    Moderna leads the world in the field of mRNA-based medicine from immuno-oncology to infectious diseases, as best demonstrated by its rapid deployment of effective COVID-19 vaccines. The company’s integrated manufacturing plant allows for both clinical and commercial production. Moderna’s mRNA-based bird flu vaccine mRNA-1018 is undergoing a Phase 1/2 study targeting H5 and H7 avian influenza viruses.

    In January 2025, the US Department of Health and Human Services (HHS) under the Biden Administration stated it would award Moderna US$590 million to “accelerate the development of mRNA-based pandemic influenza vaccines and enhance mRNA platform capabilities so that the U.S. is better prepared to respond to other emerging infectious diseases.” This includes its investigational avian flu vaccine.

    However, Reuters reported in late May that the Trump administration has cancelled the contract with Moderna. ‘The cancellation means that the government is discarding what could be one of the most effective and rapid tools to combat an avian influenza outbreak,’ stated Amesh Adalja, senior scholar at the Johns Hopkins Center for Health Security. Moderna stated it will explore alternatives for late-stage development alongside its release of interim Phase 1/2 data.

    6. Novavax (NASDAQ:NVAX)

    Market cap: US$1.13 billion

    American vaccine developer Novavax has a pipeline of early and late-stage vaccine candidates targeting respiratory viruses and other serious infectious diseases. The biotech’s platform is based on its proprietary recombinant protein-based nanoparticle and Matrix-M adjuvant technology.

    Sanofi signed a US$1.2 billion co-exclusive license in May 2024 to co-commercialize Novavax’s adjuvanted COVID-19 vaccine through much of the world.

    Novavax is also conducting pre-clinical studies on a vaccine for H5N1 avian pandemic influenza using its novel approach to immunization. According to the company, ‘Non-human primate studies have shown (its) vaccine candidate can produce protective levels of immunity after a single dose.’

    7. CureVac (NASDAQ:CVAC)

    Market cap: US$1.05 billion

    CureVac is a pioneer in developing mRNA medicines, and the first biotech company in the world “to successfully harness mRNA for medical purposes,” according to its company website. The company’s mRNA-based pipeline is based its on its proprietary RNA technology platform. It focuses on three therapeutic areas: prophylactic vaccines, cancer immunotherapies and molecular therapies.

    CureVac also has an in-house GMP manufacturing facility capable of large-scale production of vaccine doses.

    In 2024, CureVac, in partnership with GSK, began a Phase 1/2 study in the United States on an investigational mRNA-based bird flu vaccine for healthy younger adults aged 18 to 64 and healthy older adults aged 65 to 85 years of age. The vaccine candidate has since been fully licensed to GSK.

    8. Arcturus Therapeutics (NASDAQ:ARCT)

    Market cap: US$345.52 million

    California-based Arcturus Therapeutics is a global commercial mRNA medicines and vaccines company. Its pipeline is focused on the development of infectious respiratory disease vaccines.

    Arcturus is developing an avian flu vaccine based on its STARR self-amplifying mRNA vaccine platform technology. In 2022, the company was awarded US$63.2 million by the US HHS to support development of this vaccine for rapid pandemic influenza response. Phase 1 clinical trials for its H5N1 vaccine candidate began in January and is fully funded by the Biomedical Advanced Research and Development Authority, part of the US HHS.

    Antiviral influenza stocks

    Life science stocks with commercial or clinical-stage antiviral influenza medications are also worth considering for investors interested in bird flu stocks. Here are a few to get you started, listed in alphabetical order.

    Cidara Therapeutics (NASDAQ:CDTX)
    Clinical-stage biotech company Cidara Therapeutics is developing CD388 as a potential universal antiviral for all known strains of both seasonal and pandemic influenza, including H5N1. The antiviral therapy is a drug-Fc conjugate designed as a long-acting neuraminidase inhibitor. The company completed its Phase 2b study earlier this year, with data outputs expected in fall 2025.

    CoCrystal Pharma (NASDAQ:COCP)
    CoCrystal Pharma is a clinical-stage biotech company with a focus on developing antiviral treatments, specifically for influenza, norovirus and COVID-19. The company’s oral influenza PB2 inhibitor CC-42344 is targeted at pandemic and seasonal influenza. Currently in Phase 2a studies, the treatment has shown in vitro activity against the avian influenza A PB2 protein.

    NanoViricides (NYSEAMERICAN:NNVC)
    NanoViricides is a clinical stage nanomedicine technology company. Its lead drug candidate is NV-387, a broad spectrum antiviral therapy that works by mimicking a host-side signature that viruses respond to, meaning it should be effective even as viruses mutate over time. NV-837 is developed to treat respiratory viral infections such as RSV, COVID, Long COVID and H5N1 as well as Mpox, smallpox and measles infections. The company has completed Phase 1 studies.

    Roche (OTCQX:RHHBY,SWX:RO)
    Switzerland-headquartered Roche is one of the world’s largest pharma companies by revenue. Its drug Tamiflu is one of the leading seasonal influenza antiviral treatments, and it can be used to treat avian flu as well. Roche also holds the rights to Japanese pharma company Shionogi & Co.’s (TSE:4507) single-dose influenza antiviral Xofluza outside of Japan and Taiwan. Xofluza is approved in the US for the treatment of seasonal influenza and has shown in vitro activity against avian strains H7N9 and H5N1.

    Traws Pharma (NASDAQ:TRAW)
    Traws Pharma is a clinical stage company leveraging its expertise in small molecule chemistry, artificial intelligence and machine learning in the efficient development of medicines addressing respiratory viral diseases. The company is looking to rapidly progress development of its single-dose H5N1 bird flu antiviral, tivoxavir marboxil, for government stockpiling. In May, Traws received guidance from the FDA on paths for potential approval of the therapy, including the Animal Rule.

    FAQs for bird flu vaccines

    Is there a bird flu vaccine for chickens?

    There are bird flu vaccines for chickens, and farmers in nations such as China, France, Egypt and Mexico use them to inoculate their flocks.

    However, the avian flu vaccines for birds are not commonly used in the United States as they pose logistical challenges and create barriers to trade. In terms of trade, some US trading partners won’t purchase vaccinated chickens as the vaccine can mask an avian flu infection.

    Instead, biosecurity measures such as sanitation and protective wear for workers, and culling of infected flocks are more common practices in the United States.

    In response to the current bird flu outbreak, in mid-February 2025, the US Department of Agriculture conditionally approved a bird flu vaccine for chickens made by Zoetis (NYSE:ZTS), the world’s largest producer of medicine and vaccinations for pets and livestock.

    Is there a bird flu vaccine for cattle?

    There are bird flu vaccines for cattle under development. For example, Medgene, a privately held animal health company based in South Dakota, is developing an H5N1 vaccine for cattle that as of late February 2025 is waiting on imminent conditional approval from the US Department of Agriculture. The company has signed a distribution agreement with global animal health company Elanco Animal Health (NYSE:ELAN) for the vaccine.

    Is there a bird flu vaccine for cats and dogs?

    While both animals can catch avian flu, there are no commercial bird flu vaccines are currently available for cats and dogs. Cats are at higher risk of contracting HPAI bird flu than dogs, but owners of both should take precautionary measures.

    The American Veterinary Medical Association advises cats should be kept indoors. Pet owners should keep outdoor pets, including backyard chicken flocks, away from the wild birds, poultry and cattle.

    Additionally, pet owners must avoid feeding pets raw meat or poultry and unpasteurized milk, and prevent pets from eating dead birds or other animals.

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

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    Leadership Shakeup: Rio Tinto’s Stausholm to Step Down Amid Broader Industry Turnover

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    Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) announced on May 22 that Chief Executive Jakob Stausholm will step down later this year following a formal succession plan arranged by the company.

    While the mining giant has not provided a reason for the leadership transition, a Reuters report suggests the move may stem from internal “conflicting priorities,” citing six unnamed sources familiar with the matter.

    These sources told the news outlet that the decision is not linked to any scandal.

    Instead, they indicated that rising costs have became a growing concern internally, with Stausholm reportedly advised to prioritize cost-cutting measures and operational efficiency. However, he is said to have been “resistant” to shifting focus.

    Despite the leadership change, one source told Reuters that the board remains confident in Rio Tinto’s growth pipeline and affirmed that the company’s overall strategy remains unchanged.

    Stausholm’s journey at Rio Tinto

    Stausholm joined Rio Tinto as executive director and chief financial officer in 2018.

    He took over the position of chief executive in 2021.

    “Under Jakob’s leadership, Rio Tinto has restored trust with key stakeholders, aligned our portfolio with the commodities where demand growth is strongest, built a diverse and talented management team, and set a compelling growth trajectory,” said Rio Chair Dominic Barton in the company’s release.

    In the past year, Rio has made three major lithium moves: the acquisition of Arcadium Lithium, the expansion of the Rincon project in Argentina and the recent acquisition of a 51 percent stake in the Altoandinos project in Chile.

    Still, reports imply that Stausholm’s leadership was not perfect.

    Reuters quotes one source as saying that he “became more likely to push back on board suggestions and too quickly dismissed opportunities the board felt could have been better explored.”

    Merger talks with Glencore (LSE:GLEN,OTC Pink:GLCNF) were cited as an example. Stausholm reportedly rejected an approach from the commodities giant when it was initiated last year.

    Since taking the helm at Rio Tinto, Stausholm has faced scrutiny, with some investors questioning whether a leader with deeper mining experience might be better suited to guide the company through its next phase of growth.

    Stausholm holds a degree in economics from the University of Copenhagen. Before joining Rio, he served as chief strategy, finance and transformation officer at Maersk (CPH:MAERSK-B) and spent 19 years with Shell (NYSE:SHEL,LSE:SHEL), bringing a background in finance and energy to the mining major.

    Stausholm’s potential successors

    Considering what Rio Tinto wants to take and not take from Stausholm’s leadership, the question remains: Who is the company looking at as the next chief executive? Reuters’ sources pointed to Simon Trott, head of iron ore, Chief Commercial Officer Bold Bataar and aluminum boss Jerome Pécresse.

    All three have been able to work on addressing critical headaches at the company: Trott has helped repair relationships in Australia, Bataar successfully oversaw the underground expansion of the Oyu Tolgoi copper mine in Mongolia during his term as chief copper executive and Pécresse turned the firm’s aluminum unit around.

    ”Pécresse may have an advantage given his management style focused on cost-cutting,” one of Reuters’ sources said. “Rio doesn’t need another visionary right now.”

    Stausholm will remain chief executive until a replacement is found.

    “A rigorous selection process is already underway, led by the Nominations Committee,” the company said.

    At the time of this writing, Rio Tinto was focusing on three strategic pillars: expanding its critical minerals footprint, boosting decarbonization efforts and enhancing operational efficiency.

    Oyu Tolgoi is ramping up production, targeting annual output of 500,000 metric tons by 2028. A solar farm in Pilbara is also in the works, and is projected to reduce the company’s CO2 footprint to 120,000 metric tons per year.

    “It has been an absolute privilege to lead Rio Tinto, one of the great mining and materials companies in the world. I would like to thank the deeply dedicated and talented people across the organisation that together have raised both operational performance and project execution,” Stausholm said.

    “We have built on Rio Tinto’s historic strengths to deliver profitable, stable growth and significant shareholder value. I know the company will continue to thrive long into the future.”

    More major miner management shakeups

    An hour after Stausholm announced his resignation, Mark Hutchinson, CEO of Fortescue Energy, a division of Fortescue (ASX:FMG,OTCQX:FSUMF), also said that he is stepping down.

    Effective July 1, Fortescue Metals’ Latin America leader, Agustin Pichot, will act as CEO of growth and energy. Fortescue Metals CEO Dino Otranto will assume broader responsibilities, including hydrogen and electrification oversight.

    Media reports from the likes of the Australian Financial Review say Hutchinson will remain as a senior advisor.

    In addition to these major miner shakeups, media reports circulating since April suggest BHP (ASX:BHP,NYSE:BHP,LSE:BHP)is on the hunt for a replacement for Chief Executive Mike Henry.

    Developments are being monitored, as analysts believe that the chosen leaders will play critical roles in addressing the industry’s current challenges and advancing toward sustainable growth.

    Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

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    US Admin Fast Tracks Laramide Uranium Projects, Meta Pens Nuclear Power Deal

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    Laramide Resources’ (TSX:LAM,ASX:LAM,OTCQX:LMRXF) Crownpoint-Churchrock and La Jara Mesa uranium projects in New Mexico have received covered project status under the federal FAST-41 permitting initiative.

    Enacted in 2015, the FAST-41 designation is intended to streamline the environmental review and permitting process for infrastructure projects considered important to national interests.

    Since taking office, President Donald Trump has issued several executive orders and initiated a Section 232 investigation into energy security as part of a broader focus on accelerating domestic energy and critical minerals development.

    Laramide’s Crownpoint-Churchrock project, located in McKinley County, is comprised of two uranium deposits that are amenable to in-situ recovery (ISR) and holds a US Nuclear Regulatory Commission license.

    According to the 2023 technical report, the project holds a 50.8 million pound U3O8 inferred resource.

    The La Jara Mesa project, situated in the Grants Mineral Belt of Cibola County, is a sandstone-hosted uranium deposit currently working through the uranium production permitting process.

    The Laramide news comes after the US Department of the Interior expedited the environmental assessment for Anfield Energy’s (TSXV:AEC,OTCQB:ANLDF) Velvet-Wood uranium project in Utah last month. According to reports, the review was completed in 14 days — a timeline significantly shorter than the standard review process.

    Nuclear deals fuel market optimism

    Shares of Laramide are up 4.69 percent on the TSX since the Monday (June 2) news, trading for C$0.67.

    The uranium sector has seen a broad wave of positivity since Trump signed several executive orders geared at supporting the country’s nuclear industry, with players across the value chain benefiting.

    Tuesday (June 3) brought another boost for the sector, with energy provider Constellation Energy (NASDAQ:CEG) announcing a major deal. In a significant development for the US nuclear energy sector, Constellation and Meta Platforms (NASDAQ:META) have entered into a 20 year agreement through which Mark Zuckerberg’s Meta will purchase power from the Clinton Clean Energy Center in Illinois, starting in June 2027.

    The deal is part of a wider initiative by Meta to meet its growing energy needs, in particular the energy required for its artificial intelligence and data center operations. The agreement will ensure the continued operation of the Clinton nuclear facility beyond the expiration of Illinois’ zero-emission credit program.

    Clinton’s output will increase by 30 megawatts via the deal.

    This partnership highlights the ongoing trend of tech companies investing in nuclear energy to meet escalating power demands and aligns with federal initiatives to bolster domestic nuclear capacity.

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

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    Top 5 Lead Reserves by Country

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    While lead production figures are helpful in tracking year-to-year activity, lead reserves provide a longer-term picture of which nations are best positioned to dominate the lead market in the future.

    These reserves reflect the volume of economically recoverable lead available in each country — a critical factor in global supply chains, especially amid tightening environmental regulations and rising demand for energy storage.

    Top lead reserves by country

    According to the US Geological Survey, global lead reserves total around 96,000 metric tons. Here’s a look at the top 5 countries with the largest lead reserves, and what’s shaping their role in the market today.

    1. Australia

    Lead reserves: 35 million metric tons

    Australia remains the undisputed global leader in lead reserves with an estimated 35 million metric tons, meaning the nation holds over one third of the world’s lead reserves.

    The country also holds vast deposits of zinc and silver, with many polymetallic operations supporting lead output. The Northern Territory and Queensland are home to many of those mines, as well as lead exploration.

    Despite flat year-on-year production, Australia remains one of the world’s top producers at 430,000 metric tons, thanks in part to efficient mining operations and strong regulatory frameworks. Most of Australia’s lead output is exported in concentrate form.

    2. China

    Lead reserves: 22 million metric tons

    China boasts the world’s second-largest lead reserves at 22 million metric tons, and it is the world’s largest producer and consumer of lead. However, its lead output slightly declined in 2024 to 1.9 million metric tons amid broader mining reforms and tightening environmental restrictions aimed at curbing pollution.

    According to a February 2024 report from the International Lead and Zinc Study Group, China boosted its lead concentrate imports by 9.6 percent in 2024 compared to 2023, bringing in a total of 712,000 metric tons.

    3. Russia

    Lead reserves: 8.9 million metric tons

    Russia ranks third in lead reserves, with 8.9 million metric tons — up from estimates in past years. Production has remained relatively stable, coming in at 220,000 metric tons in 2024, and the country continues to benefit from its vast resource base in Siberia and the Far East.

    Given mounting geopolitical tensions and Western sanctions, Russia has sought to strengthen resource independence by prioritizing internal demand and increasing ties with aligned economies. Lead plays a smaller but still strategic role in the country’s mining sector, particularly as a byproduct of polymetallic ore operations.

    4. Mexico

    Lead reserves: 5.6 million metric tons

    Mexico is a major producer of silver and zinc, and lead often comes as a byproduct of those mining operations. The country holds the fourth-largest lead reserves globally at 5.6 million metric tons.

    With its mining industry deeply integrated into global supply chains, Mexico is an essential exporter to both North American and Asian markets. The country produced 180,000 metric tons in 2024.

    5. Peru

    Lead reserves: 5 million metric tons

    Rounding out the top five is Peru, a country known for its rich base metal deposits. With 5 million metric tons in lead reserves and a robust annual output of 270,000 metric tons in 2024, Peru remains a pillar of Latin American lead supply.

    Other countries with notable lead reserves

    While the top five countries above dominate the global reserve landscape, several other nations also hold substantial lead resources:

    • United States – 4.6 million metric tons
    • Iran – 2 million metric tons
    • India – 1.9 million metric tons
    • Sweden – 1.7 million metric tons
    • Turkey – 1.6 million metric tons
    • Bolivia – 1.6 million metric tons

    Lead market outlook

    Lead demand may be shifting with the rise of substitutes and regulatory changes, but the metal remains vital in energy storage, automotive batteries, radiation shielding and electronics. Countries with large lead reserves are not only crucial today — they are also strategically positioned to shape the future of global resource security.

    The lead market in 2024 experienced notable volatility. Prices began the year strong and surged to a high of US$2,343 per metric ton in late May, but then retreated and fluctuated within a narrow range of US$1,950 to US$2,150 per MT.

    By the end of the year, prices were down 2.4 percent year-to-date. Analysts attribute the swings to tightening regulations in China, reduced supply and global economic uncertainties.

    Global demand for refined lead is expected to rise by 1.9 percent in 2025 to 13.39 million metric tons. Growth will be driven by increased consumption in India and Vietnam, and recovering demand in Europe and Mexico. The EV market remains a crucial new demand vector, with lead-acid batteries still widely used for onboard systems.

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

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    Athena Gold Provides Option on Excelsior Springs and Kicks off 2025 Field Season at Laird Lake

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    Athena Gold Corporation (CSE:ATHA)(OTCQB:AHNRF) (‘Athena Gold’ or the ‘Company’) is pleased to announce that it has entered into a property option agreement (the ‘Agreement’) with Firetail Resources Limited (ASX:FTL) (‘Firetail’) dated May 28, 2025, whereby the Company has granted Firetail the exclusive right (the ‘Option’) to acquire an 80% undivided interest in the Company’s Excelsior Springs Project located in Nevada, USA (‘Excelsior’ or the ‘Property’). If the Option is exercised, Firetail will pay Athena Gold AUD$200,000 in cash and issue 32,000,000 ordinary shares, and Firetail will be required to incur USD$5,000,000 in expenditures over a five-year term. A 1% net smelter return royalty will also be provided to Athena Gold on certain claims comprising the Property. If Firetail successfully earns its 80% interest, the parties will form a joint venture partnership that provides Athena Gold with a 20% free-carried interest until a Definitive Feasibility Study is published.

    In addition, the Company is pleased to announce that mobilization for the proposed till program at its Laird Lake project in Red Lake, Ontario, has begun (refer to press release dated April 17, 2025).

    ‘Our efforts at Excelsior have attracted international interest, and we are pleased that the capable team at Firetail is keen to take on the risk and share the benefits with Athena Gold. The cash and share payments, as well as the exploration spend required for Firetail to earn an 80% interest, surpass the book value of Excelsior. When normalized to a 100% basis from 80%, the total investment approaches our current market capitalization. In addition to our significant shareholding in Firetail, Athena will maintain significant upside in the project through royalties and its 20% free-carried interest to a Definitive Feasibility Study. With Excelsior successfully monetized, we can place our focus on our new flagship project, Laird Lake, where crews have now mobilized for the 2025 field season,’ said Koby Kushner, President & CEO of Athena Gold.

    Summary of the Terms of the Agreement

    TERM: The term of the Option is five (5) years.

    OPTION PERIOD: In consideration for the granting of the right to explore the Property and to purchase the Option Firetail shall pay a non-refundable cash fee of AUD$50,000 within five days from execution of the Agreement. Firetail has three (3) months from execution of the Agreement to determine whether to proceed with exercising the Option.

    EXERCISE OF THE OPTION: Firetail can exercise the Option (the ‘Exercise Date’) within the three-month period and acquire the Property by:

    1. Paying AUD$200,000 within five (5) business days of the Exercise Date; and
    2. Issuing 32,000,000 ordinary shares in the capital of Firetail (the ‘Consideration Shares’) within five (5) business days of the Exercise Date. Firetail may at its sole discretion, elect to pay to the Company the value of the Consideration Shares in cash, calculated using the 5-day VWAP of Firetail ordinary shares trading on the Australian Securities Exchange.

    Firetail agrees to incur an aggregate of not less than USD$5,000,000 in exploration expenditures on the Property over a five-year period commencing from the Exercise Date. If the Option is exercised, Athena Gold will retain a 20% free-carried interest in the Property until completion of a Definitive Feasibility Study by Firetail.

    Potential Joint Venture

    Assuming the entering into of a joint venture and prior to, the Company and Firetail agree to enter into a joint venture wherein the Company shall be responsible for 20% of the exploration expenditures on the Property, subject to Firetail having first expended or incurred the initial USD$5,000,000 in exploration expenditures on the Property. On commencement of the joint venture, Firetail will grant a 1% net smelter return royalty to the Company with respect to the production of all metals and minerals from the grounds without pre-existing royalties.

    Upon commencement of production, from any and all mineral concessions, interests or rights acquired (collectively, the ‘Interests’), directly or indirectly, within the area of influence, these Interests will be subject to a 1% net smelter return royalty that will be granted to the Company and if any party’s interests are diluted below the 10% percentage share, this party’s said Interest will be converted to an additional 1% net smelter return royalty on the Property.

    The Company reserves the right that it may, at its sole election and by providing written notice to Firetail, buy back any royalty that it has granted.

    Each party to the joint venture has a right of first refusal on the terms and conditions set out in the Agreement in respect of a transfer of the whole or part of its percentage share and a party may not transfer any part of its percentage share unless and until it has complied with the terms and conditions in the Agreement.

    Firetail shall have the option to terminate the Agreement at any time after giving the Company written notice of termination. In the event Firetail does not complete any part of its obligations under the Agreement, the Property will remain with the Company. The Agreement remains subject to the approval of the Canadian Securities Exchange.

    About Athena Gold Corporation

    Athena Gold is engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to locate and develop economic precious and base metal properties of merit and to conduct additional exploration drilling and studies on its projects across North America. Athena Gold’s Laird Lake project is situated in the Red Lake Gold District of Ontario, covering over 4,000 hectares along more than 10 km of the Balmer-Confederation Assemblage contact, where recent surface sampling results returned up to 373 g/t Au. This underexplored area is road-accessible, located about 10 km west of West Red Lake Gold’s Madsen mine and 34 km northwest of Kinross Gold’s Great Bear project. Meanwhile, its Excelsior Springs Au-Ag project is located in the prolific Walker Lane Trend in Nevada, where it us currently under option by Firetail Resources Limited. Excelsior Springs spans over 1,500 hectares and covers at least three historic mines.

    For further information about Athena Gold Corporation and our Excelsior Springs Gold project, please visit www.athenagoldcorp.com.

    On Behalf of the Board of Directors
    Koby Kushner
    President and Chief Executive Officer, Athena Gold Corporation

    For further information, please contact:
    Athena Gold Corporation
    Koby Kushner, President and Chief Executive Officer
    Phone: 416-846-6164
    Email: kobykushner@athenagoldcorp.com

    CHF Capital Markets
    Cathy Hume, CEO
    Phone: 416-868-1079 x 251
    Email: cathy@chfir.com

    Forward-Looking Statements

    This press release contains forward-looking statements and forward-looking information (collectively, ‘forward-looking statements’) within the meaning of applicable Canadian and US. securities laws. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding future exploration plans, future results from exploration, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: ‘believes’, ‘will’, ‘expects’, ‘anticipates’, ‘intends’, ‘estimates’, ”plans’, ‘may’, ‘should’, ”potential’, ‘scheduled’, or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this press release, the Company has applied several material assumptions, including without limitation, that there will be investor interest in future financings, market fundamentals will result in sustained precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration and development of the Company’s projects in a timely manner.

    The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements.

    Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this press release or incorporated by reference herein, except as otherwise stated.

    Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.

    Source

    Click here to connect with Athena Gold Corporation (CSE:ATHA)(OTCQB:AHNRF) to receive an Investor Presentation

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    Charbone Hydrogen Announces Closing of Units for Debt Financing for a Total Amount of $1.3M

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    (TheNewswire)

    Charbone Hydrogen Corporation

    Brossard, Quebec TheNewswire – June 3, 2025 Charbone Hydrogen Corporation (TSXV: CH; OTCQB: CHHYF; FSE: K47) (the ‘Company’ or ‘CHARBONE ‘), North America’s only publicly traded pure-play company focused on green hydrogen production and distribution, is pleased to announce the closing of Units for debt settlements amounting to $1,342,687.

    The Company has settled with certain arm’s length suppliers $1,342,687 of payables through the issuance of units. Each unit offered, priced at $0.075 per Unit, comprised one common share of the Company and one common share purchase warrant. Each Warrant will entitle the holder thereof to purchase one additional common share of the Company at an exercise price of $ 0.10 for 12 months following the closing date. A total of 17,902,489 Units will be issued pursuant to the closing, at a conversion price per unit of $0.075. The Company believes that the settlement of the payables through the issuance of securities is appropriate to advance towards production for its Sorel-Tracy project and the overall need to manage its cash prudently.  A formal agreement will reflect any debt settlement and will be subject to the approval of the TSX Venture Exchange. Any securities issued pursuant to a debt settlement will be subject to a statutory four-month hold period in Canada.

    About Charbone Hydrogen Corporation

    CHARBONE is an integrated green hydrogen company with strategic distribution capabilities of industrial gases across North America. While continuing to develop its modular green hydrogen production network, CHARBONE also leverages commercial partnerships to supply hydrogen, helium, and other industrial gases without the capital-intensive requirements of production facilities. This approach enhances revenue streams, reduces operational risks, and increases market flexibility. CHARBONE remains North America’s only publicly traded pure-play green hydrogen company, with shares listed on the TSX Venture Exchange (TSXV: CH), the OTC Markets (OTCQB: CHHYF), and the Frankfurt Stock Exchange (FSE: K47). For more information, visit www.charbone.com .

    Forward-Looking Statements

    This news release contains statements that are ‘forward-looking information’ as defined under Canadian securities laws (‘forward-looking statements’). These forward-looking statements are often identified by words such as ‘intends’, ‘anticipates’, ‘expects’, ‘believes’, ‘plans’, ‘likely’, or similar words. The forward-looking statements reflect management’s expectations, estimates, or projections concerning future results or events, based on the opinions, assumptions and estimates considered reasonable by management at the date the statements are made. Although Charbone believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements involve risks and uncertainties, and undue reliance should not be placed on forward-looking statements, as unknown or unpredictable factors could cause actual results to be materially different from those reflected in the forward-looking statements. The forward-looking statements may be affected by risks and uncertainties in the business of Charbone. These risks, uncertainties and assumptions include, but are not limited to, those described under ‘Risk Factors’ in the Corporation’s Filing Statement dated March 31, 2022, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements.

    Except as required under applicable securities legislation, Charbone undertakes no obligation to publicly update or revise forward-looking information.

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

    Contact Charbone Hydrogen Corporation

    Telephone: +1 450 678 7171

    Email: ir@charbone.com

    Benoit Veilleux

    CFO and Corporate Secretary

    Copyright (c) 2025 TheNewswire – All rights reserved.

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    Charbone Hydrogene Annonce un Financement de Reglements de Dettes par Emission d’Unites pour un Montant Total de 1,3M$

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    (TheNewswire)

    Charbone Hydrogen Corporation

    Brossard (Québec) TheNewswire – le 3 juin 2025 — CORPORATION CHARBONE HYDROGÈNE (TSXV: CH OTCQB: CHHYF, FSE: K47 ) (« Charbone » ou la « Société »), la seule compagnie d’Amérique du Nord cotée en bourse axée sur la production et la distribution d’hydrogène vert, a le plaisir d’annoncer la clôture de règlements de dettes par émission d’unités s’élevant à 1 342 687 $.

    La Société a conclu avec certains fournisseurs sans lien de dépendance pour un montant total de 1 342 687 $ de comptes à payer par l’émission d’unités. Chaque unité offerte, au prix de 0,075 $ l’unité, comprenait une action ordinaire de la Société et un bon de souscription d’action ordinaire . Chaque bon de souscription permettra à son porteur d’acquérir une action ordinaire supplémentaire de la Société à un prix d’exercice de 0,10 $ pendant 12 mois après la date de clôture . Un total de 17 902 489 d’unités seront émises à la clôture, au prix de conversion unitaire de 0,075 $. La Société estime que le règlement des dettes par l’émission de titres est approprié pour progresser vers la production de son projet phare de Sorel-Tracy et pour répondre à la nécessité générale de gérer sa trésorerie avec prudence. Une entente officielle reflétera tout règlement de dette et sera assujetti à l’approbation de la Bourse de croissance TSX. Tous titres émis dans le cadre de ce règlement de dettes sera assujetti à la période de détention légale au Canada de quatre mois.

    À propos de Charbone Hydrogène Corporation

    Charbone est une entreprise intégrée d’hydrogène vert disposant de capacités stratégiques de distribution de gaz industriels en Amérique du Nord. Tout en poursuivant le développement de son réseau modulaire de production d’hydrogène vert, Charbone s’appuie également sur des partenariats commerciaux pour fournir de l’hydrogène, de l’hélium et d’autres gaz industriels sans les exigences en capital élevées des usines de production. Cette approche améliore les sources de revenus, réduit les risques opérationnels et accroît la flexibilité sur le marché. Charbone reste la seule société purement axée sur l’hydrogène vert cotée en bourse en Amérique du Nord, avec des actions cotées à la Bourse de croissance TSX (TSXV: CH); sur les marchés OTC (OTCQB: CHHYF); et à la Bourse de Francfort (FSE: K47). Pour plus d’informations, visiter www.charbone.com .

    Énoncés prospectifs

    Le présent communiqué de presse contient des énoncés qui constituent de « l’information prospective » au sens des lois canadiennes sur les valeurs mobilières (« déclarations prospectives »). Ces déclarations prospectives sont souvent identifiées par des mots tels que « a l’intention », « anticipe », « s’attend à », « croit », « planifie », « probable », ou des mots similaires. Les déclarations prospectives reflètent les attentes, estimations ou projections respectives de la direction de Charbone concernant les résultats ou événements futurs, sur la base des opinions, hypothèses et estimations considérées comme raisonnables par la direction à la date à laquelle les déclarations sont faites. Bien que Charbone estime que les attentes exprimées dans les déclarations prospectives sont raisonnables, les déclarations prospectives comportent des risques et des incertitudes, et il ne faut pas se fier indûment aux déclarations prospectives, car des facteurs inconnus ou imprévisibles pourraient faire en sorte que les résultats réels soient sensiblement différents de ceux exprimés dans les déclarations prospectives. Des risques et des incertitudes liés aux activités de Charbone peuvent avoir une incidence sur les déclarations prospectives. Ces risques, incertitudes et hypothèses comprennent, sans s’y limiter, ceux décrits à la rubrique « Facteurs de risque » dans la déclaration de changement à l’inscription de la Société datée du 31 mars 2022, qui peut être consultée sur SEDAR à l’adresse www.sedar.com; ils pourraient faire en sorte que les événements ou les résultats réels diffèrent sensiblement de ceux prévus dans les déclarations prospectives.

    Sauf si les lois sur les valeurs mobilières applicables l’exigent, Charbone ne s’engage pas à mettre à jour ni à réviser les déclarations prospectives.

    Ni la Bourse de croissance TSX ni son fournisseur de services de réglementation (tel que ce terme est défini dans les politiques de la Bourse de croissance TSX) n’acceptent de responsabilité quant à la pertinence ou à l’exactitude du présent communiqué.

    Pour contacter Corporation Charbone Hydrogène :

    Téléphone bureau: +1 450 678 7171

    Courriel: ir@charbone.com

    Benoit Veilleux

    Chef de la direction financière et secrétaire corporatif

    Copyright (c) 2025 TheNewswire – All rights reserved.

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    Halcones Precious Metals Provides Update on Polaris Gold Project, Antofagasta Region Chile

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    Halcones Precious Metals Corp. (TSX V: HPM) (the ‘Company’ or ‘Halcones’) is pleased to provide an update on progress at its Polaris Gold Project (the ‘Project’ or ‘Polaris’). Halcones’ geologists continue field work at Polaris in preparation for the initial drill program at the Project. Recent work has been primarily focused on detailed structural and alteration mapping and fine tuning the geologic understanding of mineralization controls. This improved geological interpretation will guide the forthcoming drill program, which will be the first drilling by the Company at the Polaris Project.

    Halcones’ focus has been on the Northwest section of the North Zone. The North Zone demonstrates a dense concentration of high-grade, outcropping gold samples over an area of at least 400 m by 250 m with many assays above 10 g/t gold (figure 1). The Company is planning an initial drill program of 8 holes to test the continuity of this vein and stockwork hosted mineralization at depth. Drilling will target near-surface mineralization with the holes planned to a depth of approximately 130m below surface. Follow-up drilling will be planned based on results.

    Figure 1. Planned Drill Program North Zone

    250603_HPM_Fig 1

    Ian Parkinson, CEO and Director of Halcones, states: ‘Our excitement towards the exploration potential of the Polaris project continues to grow. We have demonstrated extensive, exceptionally high-grade gold values at surface over a broad area in an area that has never been drilled. Gold is present in structures at surface including veins and stockwork, the planned drill program will test the continuity of this mineralization at depth.’

    Figure 2. North Zone Assay Results

    250603_HPM_Fig 2

    The Company interprets that Polaris holds potential for a large-scale bulk tonnage open-pittable deposit. Gold mineralization hosted in extensive stockworks within the wall rocks adjacent to and between the historically mined, mineralized veins is crucial evidence of the large-scale potential at Polaris. The stockwork mineralization is believed to have a similar genesis to the vein hosted mineralization previously exploited by artisanal miners but was never targeted because it is not visually obvious due to a general lack of associated sulfide minerals. The 17 known past producing small scale mines in the Project area exploited very high-grade veins with no focus on the rocks adjacent to the veins.

    Polaris Project Highlights

    • 5,778 ha property proximal to 17 past producing high grade mines that were focused on larger veins and structures dating back to the 1920-30s;
    • Despite a history of widespread mining there has been little modern-day exploration and no evidence of any exploration drilling;
    • Select outcrop chip samples include 29.04, 20.05, 13.08, 10.67, and 8.54 g/t Au, hosted primarily in stockwork (previously reported);
    • A total of 490 outcrop samples have been taken at Polaris. Results to date have demonstrated gold values of more than 1 g/t over a strike length of 3.9 km (figure 3). Much of Polaris remains unexplored and potential exists for additional targets to be identified; and
    • The Project is road accessible and at a modest elevation and is accessible 12 months of the year. Polaris is located near the town of Taltal, Chile.

    Next Steps

    Halcones management is presently negotiating access agreements with surface landowners to secure access for drilling. Once access is granted, minor prep work is required in advance of the start of the diamond drill program. The North and South zones are immediate priorities for drill testing. The Halcones technical team continues to explore Polaris with the aim of expanding the gold mineralization and prioritizing targets.

    Figure 3 Polaris Sample Area

    250603_HPM_Fig 3

    About The Sampling Process

    Using a hammer and a rock chisel, a chip sample is carried out uniformly over at least 1 meter sections, ensuring complete collection and homogeneity in order to achieve proper representation of the sample. The sample is collected perpendicular to the dominant strike of the structures and the sample mass must be a minimum of 2 kg. In the event that the outcrop presents some mineralized structure, an independent sample will be taken only from the mineralized structure and an independent sample from the host rock on both sides of the structure. This process is designed to limit bias due to high grading sample collection.

    All samples were bagged and sealed on site and delivered directly by the Project Geologist to ANDES ANALITYCAL ASSAY Laboratory in Copiapó, Chile. After sample preparation at ANDES ANALITYCAL ASSAY Laboratory in Copiapó, split pulp samples were shipped to ANDES ANALITYCAL ASSAY in Santiago, Chile for assaying gold by fire assay (AEF_AAS_1E42-FF), and for analyzing 34 other elements, including silver, by four acids (ICP_AES_AR34m1).

    ANDES ANALITYCAL ASSAY is an independent laboratory certified with a global quality management system that meets all requirements of International Standards ISO/IEC 17025:2017 , includes its own internal quality control samples comprising certified reference materials, blanks, and pulp duplicates.

    Qualified Person

    The scientific and technical information in this news release has been reviewed and approved by Mr. David Gower, P.Geo., as defined by National Instrument 43-101 of the Canadian Securities Administrators. As a consultant to Halcones, Mr. Gower is not considered independent.

    About Halcones Precious Metals Corp.

    Halcones is focused on exploring for and developing gold-silver projects in Chile. The Company has a team with a strong background of exploration success in the region.

    For further information, please contact:

    Vincent Chen
    Investor Relations
    vincent.chen@halconespm.com
    www.halconespreciousmetals.com

    Cautionary Note Regarding Forward-looking Information

    A qualified person, as defined in National Instrument 43-101, has not done sufficient work on behalf of Halcones to classify any historical grades, production or results reported above as current mineral resources or mineral reserves. The historical data should not be relied upon.

    This press release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, regarding the prospectivity of the Project, the mineralization of the Project, the Company’s exploration program, the Company’s ability to explore and develop the Project and the Company’s future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as ‘plans’, ‘expects’ or ‘does not expect’, ‘is expected’, ‘budget’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’ or ‘does not anticipate’, or ‘believes’, or variations of such words and phrases or state that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will be taken’, ‘occur’ or ‘be achieved’. Forward- looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Halcones, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; risks associated with operation in foreign jurisdictions; ability to successfully integrate the purchased properties; foreign operations risks; and other risks inherent in the mining industry. Although Halcones has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Halcones does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

    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.

    Photos accompanying this announcement are available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/a105f9f5-075d-4afb-aee1-99f80221e6e5

    https://www.globenewswire.com/NewsRoom/AttachmentNg/d635e22d-85fb-4907-bbab-c12ec8760e36

    https://www.globenewswire.com/NewsRoom/AttachmentNg/3e35a7af-fc4b-46d5-a0c5-38b55c65865d

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