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Red Metal Resources Ltd. (CSE: RMES,OTC:RMESF) (OTC Pink: RMESF) (FSE: I660) (‘Red Metal’ or the ‘Company’) is pleased to announce a financing.

Private placement offering

Red Metal announces a non-brokered private placement offering for gross proceeds of up to C$750,000 for an aggregate of up to 12,500,000 units (the ‘Offering‘).

The Company intends to raise up to $750,000 by issuing an aggregate of up to 12,500,000 units at a price of $0.06 per unit (the ‘Units’). Each Unit shall be comprised of one common share in the capital of the Company (each a ‘Share‘) and one Common Share purchase warrant (each a ‘Warrant‘). Each Warrant entitles the subscriber to purchase one additional Share of the Company ( a ‘Warrant Share’) for a period of three years at a price of CDN$0.09 per Warrant Share in the first year following the close of the financing, CDN$0.12 per Warrant Share in the second year following the close of the financing, CDN$0.15 per Warrant Share in the third year following the close of the financing.

The Company intends to use the proceeds from the sale of the Units to finance general working capital requirements and exploration on Carrizal, its flagship Chilean copper property.

States CEO Caitlin Jeffs, ‘With a pro-business and mining government in Chile, and with copper reaching record prices, we believe now is the time to focus on our Chile copper project. We intend to use the funds to advance exploration on Carrizal and for general working capital.’

All securities to be issued under the Offering will be subject to a four-month-and-one-day hold period in accordance with applicable Canadian securities laws.

About Red Metal Resources Ltd.

Red Metal Resources is a mineral exploration company focused on growth through acquiring, exploring and developing clean energy and strategic minerals projects. The Company’s current portfolio include the 100% owned Ville Marie claims in Quebec, Canada as well as Company’s Chilean projects which are located in the prolific Candelaria iron oxide copper-gold (IOCG) belt of Chile’s coastal Cordillera. Red Metal is quoted on the Canadian Securities Exchange under the symbol RMES, on OTC Link alternative trading system on the OTC Pink marketplace under the symbol RMESF and on the Frankfurt Stock Exchange under the symbol I660.

For more information, visit www.redmetalresources.com

Contact:
Red Metal Resources Ltd.
Caitlin Jeffs, President & CEO
1-866-907-5403
invest@redmetalresources.com
www.redmetalresources.com

Forward-Looking Statements – All statements in this press release, other than statements of historical fact, are ‘forward-looking information’ within the meaning of applicable securities laws including, without limitation statements related to the Offering and expected use of proceeds. Red Metal provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to the ability to raise adequate financing, receipt of required approvals, as well as those risks and uncertainties identified and reported in Red Metal’s public filings under its SEDAR+ profile at www.sedarplus.ca. Although Red Metal has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. 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. Red Metal disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

THIS NEWS RELEASE IS NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/279761

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Investor Insight

With its combination of robust resources, permitted infrastructure and significant exploration potential – both for critical minerals and gold – Nuvau Minerals offers exposure to a world-class, highly defined mining district with top-tier infrastructure and a long history of base-metal mining, now complemented by the discovery of gold and a substantial upside still to be realized.

Overview

Nuvau Minerals (TSXV:NMC) is a Canadian metals exploration company dedicated to revitalizing production in Quebec’s Abitibi Greenstone Belt, one of the world’s most prolific mining regions. The company’s flagship Matagami Mining Camp offers an exceptional combination of historical production, district-scale exploration potential and existing infrastructure. Historically, the camp has produced nearly 60 million tons (Mt) of ore over 60 years, primarily zinc and copper, and was last operated by Glencore until June 2022.

Aerial view of Nuvau Minerals

While the company’s core focus remains on critical minerals – with the Caber Complex preliminary economic assessment supporting a near-term restart and a robust resource base – recent exploration success has revealed a new dimension: gold. In July 2025, Nuvau drilled its first gold-focused target at Matagami, intersecting visible gold in what appears to be an orogenic lode system close to existing mine workings. This highlights the untapped precious metals potential alongside its established base metals endowment.

Nuvau has an earn-in agreement with Glencore for the Matagami property; the three year earn-in has been completed and the company is working through the final steps of closing the property transfer. With full ownership of the property and an option to acquire the mill, Nuvau is positioned to re-establish Matagami as a multi-metal production hub. Backed by a skilled technical team, strong institutional investors, and the support of local communities and government, Nuvau is on track to deliver near-term production potential while unlocking the district’s broader resource opportunities.

Company Highlights

  • Flagship Asset: Matagami Mining Camp – Agreement to acquire 100 percent of the property from Glencore after completing a three-year, $30 million earn-in. The camp has a 60-year operating history with nearly 60 million tons mined across 12 past mines.
  • District Scale with Established Infrastructure – Covers over 1,300 sq km with more than 2,400 claims, a fully permitted 3,000-ton-per-day processing facility, rail and road access, and power.
  • Exploration Upside – Multiple high-grade base metal zones (Renaissance, McLeod Extension) and gold anomalies remain open in all directions.

Key Asset

Matagami Mining Camp (Flagship)

Map showing various mining locations, including Nuvau Minerals

The Matagami Mining Camp is Nuvau Minerals’ cornerstone asset, representing a unique combination of large-scale land position, prolific production history and exceptional potential for both base and precious metals. Located in Quebec’s Abitibi Greenstone Belt, one of the most productive mining regions in the world, the camp has produced nearly 60 Mt of ore from 12 past mines over six decades, making it a proven mineral district with established infrastructure and skilled local labor.

Project Highlights

District Scale and Strategic Location

  • Covers more than 1,300 sq km and more than 2,500 mineral claims, giving Nuvau a dominant landholding in a Tier 1 mining jurisdiction.
  • Excellent year-round access via road, rail and air, with nearby hydroelectric power and water supply.
  • Situated near other significant mining operations in the Abitibi, providing opportunities for synergies and potential district-scale consolidation.

World-class Infrastructure

  • Fully permitted 3,000 tpd concentrator with two float circuits, maintained in excellent condition by Glencore until its closure in June 2022.
  • Existing rail loading facility, core processing facility, administration offices and alternative tailings storage options with no inherited liabilities.
  • The Bracemac McLeod mine infrastructure remains in place, with underground development to 1,400-meter depth.

Established Resource Base & Robust Economics

  • Caber Complex (Caber, Caber Nord, PD1):
    • Measured and Indicated: 3.36 Mt @ 5.18 percent zinc 1.10 percent copper, 14.3 grams per ton (g/t) silver, 0.16 g/t gold
    • Inferred: 7.32 Mt @ 2.43 percent zinc, 1.28 percent copper, 11.5 g/t silver, 0.09 g/t gold
    • PEA (July 2023): 9.5-year mine life, base-case after-tax NPV (8 percent) C$115.9 million, IRR 20 percent (base case), low initial CAPEX of C$172.3 million due to existing infrastructure.
  • Bracemac McLeod Mine:
    • Past production: 8.1 Mt @ 6.1 percent zinc, 0.9 percent copper, 24 g/t silver, 0.5 g/t gold
    • Remaining resources in McLeod Deeps and new high-grade McLeod Extension discovery (2023: 16.4 m @ 14.22 percent zinc, 2.72 percent copper).
    • Low-cost restart potential with metallurgy and mine plan well understood.
Chart comparing Nuvau Minerals

Exploration Upside

  • Over 80 geophysical targets identified in the Northern Domain alone.
  • Multiple high-grade volcanogenic massive sulphide (VMS) systems, including the Renaissance Zone discovery – the first VTEM anomaly drilled by Nuvau, hosting massive and semi-massive sulphides with high-grade precious metals.
  • Significant gold potential, including:
    • Visible gold intercept in the first-ever gold-focused drill hole at Matagami, near Bracemac McLeod.
    • Regionally significant gold till anomaly with over 2,000 gold grains per 10 kg sample – potentially the highest recorded in the Abitibi – indicating a nearby source.
  • Additional underexplored zones adjacent to historical mines, where lower historical metal prices left mineralized extensions untouched.

Management Team

Steven Bowles – Chair of the Board

Steven Bowles has extensive experience in the mining and metals sector, encompassing private equity investment, project management and operations management. He currently serves as managing director at Nebari Partners. Prior to this role, he was the senior director of investment in natural resources and energy within Investment Quebec’s private equity group. Throughout his career, Bowles has led development teams on numerous large-scale mining projects, guiding them from study phases to construction and commissioning in various regions, including the Canadian Arctic, the Middle East and Latin America. He has been recognized for his outstanding leadership and was awarded the Bedford Canadian Young Mining Leaders Awards.

Peter van Alphen – President, CEO and Director

Peter van Alphen has over 25 years of experience in leadership roles within the mining industry, encompassing all aspects from construction projects to production. Most recently, he served as the chief operating officer at Premier Gold Mines, managing the company’s mining and development endeavors. Prior roles include country manager for Canada at Pan American Silver, vice-president of operations at Tahoe Resources and Lake Shore Gold, and various management positions at FNX Mining in Sudbury, Ontario. Van Alphen holds a Bachelor of Science in mining engineering from the University of the Witwatersrand.

Steve Filipovic – Chief Financial Officer

Steve Filipovic is a chartered professional accountant with more than 23 years of financial management and oversight experience. He was a founding executive team member and chief financial officer at Premier Gold Mines, playing an integral role in transitioning the company from explorer to producer until its acquisition by Equinox Gold in 2021. Prior to that, he served as chief financial officer of Zinifex Canada and was vice-president, finance of Wolfden Resources, until its acquisition by Zinifex in 2007. Filipovic holds an Honours Bachelor of Commerce Degree from Lakehead University and is an ICD.D designated member of the Institute of Corporate Directors.

Gilles Roy – Director of Exploration

Gilles Roy is a highly skilled geologist with over 30 years of experience in mineral exploration across various countries, including Canada, Peru, Chile, Kazakhstan, Australia and Burkina Faso. Specializing in base metal deposits in volcanic host rocks, he spent much of his career at Glencore, leading exploration programs that resulted in the discovery of the McLeod deposit in 2004 and the Bracemac deposit in 2006. Roy holds a Bachelor of Science in geology from Université du Québec à Montréal and is a member of the Ordre des géologues du Québec.

Bastien Fresia – Technical Services Director

Bastien Fresia brings over 15 years of international experience in geology, mine planning, and resource development to Nuvau Minerals, where he serves as technical services director. He previously held senior technical roles at Glencore Zinc, leading multidisciplinary teams and delivering strategic studies across Canada, Burkina Faso, Peru, Bolivia and Kazakhstan. His accomplishments include the discovery of satellite deposit extensions in Matagami and Perkoa, as well as the implementation of technical frameworks that significantly improved business performance in Peru and Kazakhstan.

At Nuvau, Fresia leads the company’s technical planning, integration, and execution. He holds two M.Sc. degrees in Geosciences and an MBA in Strategy and Risk Management, and is a registered professional geologist with the Ordre des Géologues du Québec and a chartered professional (Mining) with the Australasian Institute of Mining and Metallurgy.

Philippe Rio Roberge – Director of Project Development

Philippe Rio Roberge is a project management professional with 19 years of experience in the mining sector. With a strong background from the consultation world, he is specialized in geotechnics, tailings and water management, as well as in project management and construction. He has been involved in multiple feasibility studies for greenfield and brownfield projects and has overseen heavy earthwork construction projects. Roberge has been involved in the full life cycle of mine waste management facilities, from design through permitting and construction to closure and reclamation. While doing so, he has ensured the strategic development and integration of projects in a sensitive environmental and economic context. Philippe holds a degree in civil engineering from Université de Sherbrooke

Christina McCarthy – Director

Christina McCarthy is a geologist with over 15 years of experience in the resource capital markets. She is the former president and CEO of Paycore Minerals, which was acquired by i-80 Gold Corp for a $90 million valuation. Previously, she was vice-president of corporate development for New Oroperu Resources, acquired by Anacortes Mining in 2021. McCarthy also served as director of corporate development for McEwen Mining from 2014 to 2019. She has held various management and board roles, including positions in equity research at Euro Pacific and institutional sales at Haywood Securities. Prior to entering the resource capital markets, she managed exploration programs in Scandinavia for a junior exploration company. McCarthy holds a Bachelor of Science in geology.

Ewan Downie – Director

Ewan Downie is a successful company builder and entrepreneur with over 25 years of experience in the mining industry. He currently serves as the chief executive officer of i-80 Gold. Previously, he was the president and CEO of Premier Gold Mines, and is now serving as non-executive chairman and director of Wolfden Resources, as well as a director of Clean Air Metals. Throughout his career, Downie has been part of several gold and base metal discoveries, earning recognition for his achievements, including being awarded the 2003 Prospectors and Developers Association of Canada’s “Bill Dennis Prospector of The Year.”

Michael Vitton – Director

Michael Vitton served as the executive managing director and head of US equity at BMO Capital Markets, where he was instrumental in originating and executing over US$200 billion worth of public and secondary offerings and M&A transactions across all sectors. In the metals and mining sector, he has been involved in numerous significant deals as a seed investor, lead/co-lead underwriter, or in an M&A capacity. Vitton holds a degree from the University of Michigan Business School and has served as a seat holder on the NYSE, and president of the New York Society of Metals Analysts.

Fariah Mir – Director

Fariah Mir is currently the senior manager, accounting policy & advisory at TD Bank Group. Prior to that, Mir worked as a senior accountant, assurance advisory at Deloitte LLP, and as a senior financial analyst at IAMGOLD Corporation. Mir holds a Bachelor of Commerce, Honours Accounting from York University. She is also a member in good standing with the Chartered Professional Accountants of Ontario.

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Investor Insight

With a clear, discovery-focused strategy, Terra Clean Energy is advancing one of the most unique near-surface uranium opportunities in the Athabasca Basin while expanding its portfolio through the acquisition of past-producing uranium assets in the United States. The company is targeting rapid resource growth and meaningful re-rating potential through continuous exploration, aggressive drilling, and disciplined capital deployment across both its Canadian and US projects.

Overview

Terra Clean Energy (CSE:TCEC,OTCQB:TCEFF,FSE:C9O0) is unlocking value from its wholly owned South Falcon East project in the southeastern Athabasca Basin while expanding its North American footprint through the acquisition of past-producing uranium mines in Utah. The company is now positioned as a unique shallow-uranium developer with assets in two historic uranium districts.

Map showing Terra Clean Energy

With a historical uranium resource of nearly 7 million lbs U₃O₈ at Fraser Lakes Zone B and strong results from the 2025 winter drill program confirming wider and higher-grade mineralized zones, Terra is advancing toward an updated NI 43-101 resource estimate. The project’s position along the Way Lake Conductor – a folded, fertile structural corridor – continues to offer exceptional discovery potential, with new targets emerging from recent drilling and geological modeling.

In addition, Terra’s newly acquired assets in Utah include nine past-producing mines within the San Rafael Swell, where historical outputs and recent radiometric readings indicate strong potential for remaining uranium resources. These assets offer near-surface mineralization in a highly supportive US jurisdiction and represent an important second growth pillar for the company.

As global nuclear buildout accelerates and supply deficits widen, Terra offers investors a compelling combination of shallow resource potential, multi-jurisdiction exposure, and a robust pipeline of exploration catalysts.

Company Highlights

  • Unique, Shallow Uranium Systems (Canada + US): Terra is advancing shallow uranium assets across both the Athabasca Basin and the San Rafael Swell in Utah, each offering reduced exploration and potential development costs.
  • Pounds-in-the-ground Upside: South Falcon East hosts a historical inferred resource of 6.96 Mlbs U₃O₈ and 5.34 Mlbs ThO₂, with expansion potential from recent drilling, while the Utah assets include nine past-producing mines with recorded grades up to 1 percent U₃O₈.
  • Prime Locations: South Falcon East lies 55 km east of the Key Lake Mill, within reach of world-class Athabasca infrastructure, while the Utah projects benefit from established roads, utilities and regional uranium processing infrastructure.
  • Strong Technical Leadership: Terra’s leadership includes uranium exploration veterans, capital markets professionals, and newly added board members with deep nuclear industry and operational experience.
  • Resource Update Underway: Results from the 2025 winter and fall programs will support Terra’s path toward an NI 43-101 compliant resource update.

Key Project

South Falcon East – Fraser Lakes B Deposit

South Falcon East is Terra Clean Energy’s flagship project in the southeastern Athabasca Basin, covering 12,234 hectares and hosting the Fraser Lakes B deposit, which contains a historical inferred resource of 6.96 Mlbs U₃O₈ and 5.34 Mlbs ThO₂. Located 55 km east of the Key Lake mill, the project benefits from shallow mineralization, strong infrastructure and a geological setting consistent with basement-hosted unconformity uranium systems.

Map of mining projects in the Athabasca Basin, Canada including Terra Clean Energy

The deposit sits along the central limb of the 25 km Way Lake Conductor, a folded and fertile structural corridor that remains largely underexplored. Recent geological modeling highlights the convergence of clay alteration, graphitic metasediments, pegmatites and key structural trends – features that collectively support significant expansion potential beyond the historical resource footprint.

Terra’s 2025 winter drill program materially advanced the project, returning the widest and highest-grade intervals ever recorded on the property and confirming an open northwest-trending mineralized corridor. A follow-up program is planned to further evaluate these newly defined zones and continue advancing the project toward a future NI 43-101 compliant resource estimate.

2025 Winter Drill Program Highlights:

  • Seven holes, 1,927 m drilled
  • Six of seven holes intersected uranium mineralization
  • Four holes returned the project’s widest and highest-grade intervals to date
  • Minerized trend confirmed open to the northwest, defining a new expansion corridor

San Rafael Swell – Utah Uranium Projects

In 2025, Terra Clean Energy expanded its portfolio with the acquisition of two shallow, past-producing uranium claim groups – Wheal Anne and the Green Vein Mesa – within the San Rafael Swell of Emery County, Utah. The district is one of the most historically productive uranium regions in the United States and offers excellent year-round access, supportive infrastructure and a clear permitting pathway. Together, the claim groups host nine past-producing mines, providing Terra with a complementary US platform to advance shallow uranium targets alongside its Athabasca Basin flagship.

Map of the Terra Clean Energy

These results demonstrate multiple stacked mineralized horizons over widths up to 65 m, open to depth and laterally.

In early 2024, Terra’s Phase 1 drill program confirmed the presence of uranium-bearing pegmatites in close proximity to historical intercepts. Hole SF-0059 intersected 13.5 m of mineralization, including 0.07 percent eU₃O₈ over 1.1 m, while SF-0060 returned intervals such as 0.02 percent eU₃O₈ over 1.3 m at 142.15 m. These intercepts confirm the extension of mineralization along strike and at depth from FP-15-05 and support the hypothesis of lateral continuity and stacked mineralized bodies.

Planning for an extensive summer 2025 drill program is underway, which consists of approximately 2,500 meters. The program will test areas identified during the winter 2024 program, where it is interpreted that a north-northwest trending brittle structure, a north dipping structure with strong clay alteration, and mineralized pegmatites with hydrothermal hematite alteration hosted in graphitic pelitic gneiss all intersect.

Management Team

Greg Cameron – President, CEO and Director

A seasoned capital markets professional, Greg Cameron has two decades of experience in business development, strategy and M&A. He is a former senior banker at Canaccord Genuity and Macquarie, and managing director at Colby Capital. He brings transactional and restructuring expertise critical to junior exploration growth.

C. Trevor Perkins – VP, Exploration

A professional geologist, C. Trevor Perkins has a track record in uranium exploration, including major results in the Athabasca Basin. He also serves as VP exploration for Azincourt Energy and has led exploration strategy and drill execution across multiple high-impact programs.

Jon Li – CFO

Jon Li brings more than 20 years of financial leadership experience, with a specialty in the mining, technology, and financial services sectors. As vice-president of WD Numeric, a full-service accounting firm providing financial and operational support to public and private companies, Jon leads process improvement initiatives, conducts quality control reviews, and delivers outsourced CFO services across a diverse client portfolio. Previously, Li served as

financial controller at Strategic Pricing Management Group (SPMG), where he oversaw all financial operations, including general ledger systems, budgeting, forecasting, cash management, and financial reporting.

Alex Klenman – Director

Alex Klenman is a veteran junior mining executive with 30+ years’ experience, including uranium-specific roles. He is the CEO and director of Azincourt Energy, and has raised more than $18 million for Athabasca exploration. Klenman brings deep investor relations and financing expertise.

Tony Wonnacott – Director

Tony Wonnacott is a Toronto-based securities lawyer with more than 25 years of experience in capital markets. Instrumental in multiple successful listings and over $1 billion in financings and M&A transactions.

Michael Gabbani – Director

Michael Gabbani is an accomplished engineer with decades of experience in the nuclear industry. He possesses a high level of understanding of where the industry is going and the contacts to allow the Company to position itself to benefit.

Brian Polla – Director

Brian Polla is a serial entrepreneur and seasoned veteran of the capital markets. As a significant shareholder of Terra, he brings extensive expertise to help steer the company forward.

Jordan Trimble – Technical Advisor

Jordan Trimble is the CEO of Skyharbour Resources and a leading voice in the uranium investment community. He brings global capital markets insight and technical expertise, enhancing Terra’s industry reach and credibility.

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West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY,OTC:WHYRF) (FSE: W0H) (the ‘Company’ or ‘West High Yield’) announces that it is closing a single tranche (the ‘Closing’) of a conditionally approved non-brokered private placement offering (the ‘Offering’) of units (the ‘Units’).

The Closing consisted of the issuance of 1,000,000 Units for gross proceeds of $500,000. The Units were issued at a price of $0.50 per Unit, with each Unit consisting of one (1) Common share of the Company (each, a ‘Common Share‘) and one (1) Common Share purchase warrant (each, a ‘Warrant‘). Each Warrant, together with CAD$0.65, entitles the holder thereof to acquire one (1) additional Common Share for twelve (12) months from the date of the Closing.

All securities comprising the Units issued on the Closing are subject to a trading hold period expiring four months plus one day from the date of issuance. The proceeds from the Closing have been and will be used by the Company to cover essential operations and for general working capital purposes and expenses.

After completion of the Closing, the Company confirms that the Offering has been completed in full. The Company received conditional approval for the Offering from the TSX Venture Exchange (the ‘TSXV‘) on December 30, 2025 by way of filing a price reservation form. Final approval of the Offering remains subject to approval by the TSXV, which the Company has submitted for as of the date of this news release.

About West High Yield

West High Yield is a publicly traded junior mining exploration and development company focused on acquiring, exploring, and developing mineral resource properties in Canada. Its primary objective is to develop its Record Ridge critical mineral (magnesium, silica, and nickel) deposit using green processing techniques to minimize waste and CO2 emissions.

The Company’s Record Ridge critical mineral deposit located 10 kilometers southwest of Rossland, British Columbia has approximately 10.6 million tonnes of contained magnesium based on an independently produced National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101‘) Preliminary Economic Assessment technical report (titled ‘Revised NI 43-101 Technical Report Preliminary Economic Assessment Record Ridge Project, British Columbia, Canada’) prepared by SRK Consulting (Canada) Inc. on April 18, 2013 in accordance with NI 43-101 and which can be found on the Company’s profile at https://www.sedarplus.ca.

Contact Information:

West High Yield (W.H.Y.) RESOURCES LTD.

Frank Marasco Jr., President and Chief Executive Officer
Telephone: (403) 660-3488
Email: frank@whyresources.com

Barry Baim, Corporate Secretary
Telephone: (403) 829-2246
Email: barry@whyresources.com

Cautionary Note Regarding Forward-looking Information

This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; and other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the ‘U.S. Securities Act‘) and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.

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.

Corporate Logo

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Copper prices climbed to a fresh record on Tuesday (January 6), as persistent supply disruptions and trade uncertainty capped a nearly 30 percent rally since October.

Benchmark three‑month copper on the London Metal Exchange (LME) rose as much as 3.1 percent in early trading to an all‑time high of US$13,387.50 per metric ton, before settling slightly lower but still above US$13,200.

The jump marks another milestone in a rally that first saw the price breach US$12,000 late in December last year.

Copper is widely used across the industrial economy, from construction and power infrastructure to electric vehicles and data centers that support artificial intelligence growth.

Analysts attribute the gains to a combination of production setbacks at major mines and heightened concerns that prospective US trade tariffs could further disrupt flows.

Large operations such as Freeport-McMoRan (NYSE:FCX)’s Grasberg complex in Indonesia have faced challenges since last year, while a strike at Capstone Copper (TSX:CS,OTC Pink:CSCCF,OTC:CSCCF)’s Mantoverde mine in Chile has reduced output prospects in one of the world’s top copper‑producing nations.

The prospect of new tariffs under the Trump administration has also shaped expectations. Traders have moved to ship refined copper into the US ahead of any potential levies, tightening supply elsewhere.

Furthermore, data show copper stocks in US Comex warehouses have jumped to more than 450,000 metric tons, well above last year’s levels.

Copper outlook for 2026

Market watchers expect many of the forces that drove prices through 2025 to persist.

Supply constraints are expected to remain acute this year as aging mines and capacity shortfalls weigh on availability. New projects such as Arizona Sonoran Copper Company (TSX:ASCU,OTC:ASCUF)’s Cactus project and the long‑anticipated Resolution mine in the US are still years from significant output.

“A huge amount of this tightness has to do with US tariff concerns,” she said, noting that US inventory has climbed to roughly 750,000 metric tons.

China, the world’s largest copper consumer, is also shaping the outlook. Despite weakness in its property sector, the country posted economic growth and is expected to prioritize copper‑intensive sectors under its new five‑year plan.

Longer‑term projections from industry groups suggest structural demand growth will outpace supply additions. A UN report estimates copper demand could rise 40 percent by 2040, requiring substantial investment and new mines just to keep pace.

Likewise, Wood Mackenzie forecasts copper demand increasing 24 percent by 2035, while the International Copper Study Group predicts a refined copper deficit of 150,000 metric tons in 2026 alone.

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

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Investor Insight

As demand for copper continues to rise, driven by global electrification trends, Los Andes Copper is well-placed to leverage its significant copper position in Chile, driven at the helm by a group of highly experienced technical and business leaders.

Overview

The global electrification trend is driving strong growth in copper demand, with experts expecting copper markets to remain in deficit through 2026 due to supply constraints and rising demand for electrification, supporting a bullish medium-term price outlook.

Against this backdrop, Los Andes Copper (TSXV:LA;OTCQX:LSANF) is advancing its 100 percent-owned Vizcachitas copper-molybdenum project in Chile, one of the largest undeveloped copper assets not controlled by a major mining company. Led by an experienced management team, the company is strategically positioned to play a meaningful role in supplying copper to a rapidly electrifying global economy.

Los Andes Copper Project Locations

The company filed a positive pre-feasibility study in 2023 indicating US$2.78 billion after-tax net present value (NPV) using an 8 percent discount rate and an internal rate of return (IRR) of 24.2 percent at US$3.68/lb copper, US$12.90/lb molybdenum and US$21.79/oz silver, with an estimated initial capital cost of US$2.44 billion. The PFS also highlighted a construction period of 3.25 years and a payback period of 2.5 years from the initial production date.

The company expanded its land package by obtaining first-priority exploration claims over new areas within and adjacent to the current property boundaries for the Vizcachitas copper project.

The claims cover an 18 sq km block within the current property boundary, and another 7 sq km block adjacent to the north-east corner of the property boundary.

Los Andes Copper

The Vizcachitas project, including the claim blocks they added in April 2025 is surrounded by mining majors

Los Andes works closely with the local community to support the development of local businesses and social organizations. The company has joined the Association of Small Miners of Putaendo and has established several programs to support social organizations, local technical high schools and female entrepreneurs. Los Andes is also environmentally aware and strives to maintain an excellent ESG rating.

The company’s management team is experienced in the natural resources industry, including experts in geology, community affairs, and corporate finance.

Company Highlights

  • World-Class Copper Developer: Los Andes Copper is advancing the Vizcachitas Copper Project in Chile, the largest advanced copper project in the Americas, wholly owned by a junior miner, with exceptional blue-sky exploration upside.
  • Strong Financial Support: The company has secured US$34 million in strategic investment, including US$14 million from Queen’s Road Capital and US$20 million from Ecora Resources, to support ongoing development.
  • Robust Resource & Reserve Base: Vizcachitas hosts 11 billion lbs CuEq Initial Reserves, plus 15 billion lbs CuEq measured and indicated resources and 15 billion lbs CuEq Inferred Resources (resources inclusive of reserves).
  • Compelling Project Economics: The 2023 Pre-Feasibility Study outlines strong economics with a post-tax NPV₈ of US$2.78 billion and 24 percent IRR at US$3.68/lb copper, increasing to a post-tax NPV₈ of US$4.5 billion and 32 percent IRR at US$4.50/lb copper.
  • Tier-1 Mining Jurisdiction: Located in Chile’s premier copper belt and surrounded by which hosts four of the world’s largest copper mines, there is access to excellent infrastructure and operational advantages.
  • 100 Percent Ownership & Strategic Flexibility: The project is fully owned with no strategic encumbrances, providing maximum optionality for development or partnership.
  • ESG & Community Focus: The company maintains a strong ESG profile, working closely with local communities while minimizing environmental impact throughout project development.
  • Experienced Leadership: Led by a highly experienced management team with deep technical, operational, and capital markets expertise across the mining industry.

Key Project

Vizcachitas Copper Project

Los Andes Copper

The 100-percent-owned Chilean Vizcachitas copper project is one of the largest advanced copper deposits in the Americas and the largest deposit owned 100 percent by a junior miner. The project is located in the Rio Rocin Valley, roughly 150 kilometers northeast of Santiago.

Project Highlights:

  • Strong Existing Infrastructure: The project is accessed by a 124-kilometer paved highway, a nearby railway and shipping ports. Due to the presence of existing copper mines, smelting facilities are accessible by railway. Additionally, there are multiple large power substations near the project.
Los Andes Copper
  • Strong Project Economics: The Vizcachitas Project boasts an after-tax NPV of US$2.78 billion (8 percent discount rate) and an impressive internal rate of return (IRR) of 24.2 percent at metal prices of US$3.68/lb copper, US$12.90/lb molybdenum, and US$21.79/oz silver. Initial capital expenditure is estimated at US$2.44 billion.
  • Efficient Development Timeline: The project is expected to have a construction period of 3.25 years and a rapid payback period of just 2.5 years from the start of production.
  • Robust Resource Base:
    • Measured Resources: 2.61 billion lbs copper, 84 million lbs molybdenum, and 11 million oz silver.
    • Indicated Resources: 10.42 billion lbs copper, 442 million lbs molybdenum, and 43 million oz silver.
    • Inferred Resources: Increased by 130 percent to 15.4 billion lbs CuEq (including 13.75 billion lbs copper, 495 million lbs molybdenum, and 55 million oz silver).
Los Andes

Los Andes Copper plans to commence commercial operations in 2031. With a sustainable design, low water and power use and a minimal footprint, Vizcachitas is positioned to rival Chile’s top copper operations.

Management Team

Santiago Montt – CEO

With 11 years of experience in the mining sector, Santiago Montt has a law degree from the University of Chile, a J.S.D. law degree (PhD) from Yale University, and a Master’s in Public Policy from Princeton University. He has worked for BHP from 2011 to 2021 in various roles: vice-president of corporate affairs for the Americas, VP of ligation (Global), VP of legal Brazil, and VP of legal copper. He is an experienced professional in the areas of stakeholder management, risk management, crisis management, project management and commercial and legal affairs.

Manuel Matta – Senior Mining and Project Consultant

Manuel Matta is a mining engineer from the University of Chile, with more than 30 years of experience in operations, planning and projects. He worked for Falconbridge and Xstrata as vice-president of projects and development where he led the expansion of the Collahuasi mine. He was also the general manager of Altonorte Smelter in Chile. Matta also worked for Barrick Gold in Chile and the Dominican Republic and was the general manager of Las Cenizas copper mines in Chile.

Antony Amberg – Chief Geologist

Anthony Amber is a chartered geologist with 32 years of diverse experience working in Asia, Africa, and South America. Amberg is a qualified person under NI 43-101. He has managed various exploration projects ranging from grassroots through to JORC-compliant feasibility studies. In 2001, he returned to Chile, where he started a geological consulting firm specializing in project evaluation and NI 43-101 technical reports. He began his career in 1986 working with Anglo American in South Africa before moving on to work for the likes of Severin-Southern Sphere, Bema Gold, Rio Tinto and Kazakhstan Minerals Corporation.

Ignacio Melero – Director of Corporate Affairs and Sustainability

Ignacio Melero is a lawyer with a degree from Pontificia Universidad Católica de Chile with vast experience in corporate and community affairs. Before Los Andes, Ignacio was responsible for community affairs at CMPC, having managed community and stakeholder affairs for a number of its pulp and forestry divisions throughout the country. Ignacio has worked for the Government of Chile, in the Ministry General Secretariat of the Presidency. He was responsible for the inter-ministerial coordination of the ChileAtiende project, a multi-service network linking communities, regional governments and public services.

Harry Nijjar – Chief Financial Officer

Harry Nijjar holds a CPA CMA designation from the Chartered Professional Accountants of British Columbia and a Bachelor of Commerce from the University of British Columbia. He is a managing director of Malaspina Consultants. Nijjar has been working with public and private companies for the past 10 years in various roles. He is also currently the CFO of Darien Business Development and Clarmin Explorations.

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TORONTO, ON / ACCESS Newswire / January 7, 2026 / NextSource Materials Inc. (TSX:NEXT,OTC:NSRCF) (‘NextSource’ or the ‘Company’) is pleased to announce that the first shipment of equipment for its proposed Battery Anode Facility (‘BAF’) has arrived in Abu Dhabi in the United Arab Emirates (‘UAE’), marking a significant milestone in advancing the Company’s downstream value‑add strategy.

The shipment consists of long‑lead items for anode processing which the Company has previously procured. The procurement of key processing equipment and delivery of these components are critical in demonstrating the Company’s proactive approach and ability to deliver, ensuring that key equipment is secured ahead of installation and commissioning.

The equipment will be installed in the pre‑existing industrial building selected by the Company within the Industrial City of Abu Dhabi (‘ICAD’). The availability of this ready‑to‑use facility provides a substantial schedule advantage by minimizing the need for extensive construction, allowing the Company to focus capital and time on process installation and operational readiness.

The Company also reports significant progress in the Front‑End Engineering and Design (‘FEED’) phase. The FEED work has now progressed to schematic design, providing further definition on plant design, capital requirements, and execution planning. This growing level of technical and cost certainty will form a key input into the Final Investment Decision (‘FID’). Following a successful FID, the Company will proceed with full equipment procurement, installation, commissioning, and ramp‑up in accordance with its phased development plan.

Hanré Rossouw, President and CEO of NextSource, commented:

‘The arrival of long-lead equipment in Abu Dhabi is a tangible demonstration of continued progress on our Battery Anode Facility. Securing these items proves logistical supply chains into the UAE. With the ICAD building secured, we are strengthening the foundations for a disciplined and efficient development phase.’

About NextSource Materials Inc.

NextSource Materials Inc. is a battery materials company based in Toronto, Canada that is intent on becoming a vertically integrated global supplier of battery materials through the mining and value-added processing of graphite and other minerals.

The Company’s Molo graphite project in Madagascar is one of the largest known and highest-quality graphite resources globally, and the only one with SuperFlake® graphite. The Molo mine has begun production through Phase 1 mine operations.

The Company is also developing a significant downstream graphite value-add business through the staged rollout of Battery Anode Facilities (BAF) capable of large-scale production of coated, spheronized and purified graphite for direct delivery to battery and automotive customers, in a fully transparent and traceable manner. The Company is now in the process of developing its first BAF in the UAE.

NextSource Materials is listed on the Toronto Stock Exchange under the symbol ‘NEXT’ and on the OTCQB under the symbol ‘NSRCF’.

For further information about NextSource Materials, please visit our website at www.nextsourcematerials.com or contact us at +1.416.364.4911 or email Brent Nykoliation, Executive Vice President at brent@nextsourcematerials.com.

Safe Harbour: This press release contains statements that may constitute ‘forward-looking information’ or ‘forward-looking statements’ within the meaning of applicable Canadian and United States securities legislation. Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward looking statements and information are frequently characterized by words such as ‘plan’, ‘expect’, ‘project’, ‘intend’, ‘believe’, ‘anticipate’, ‘estimate’, ‘potential’, ‘possible’ and other similar words, or statements that certain events or conditions ‘may’, ‘will’, ‘could’, ‘expected’ or ‘should’ occur. Forward-looking statements include any statements regarding, among others, timing of construction and completion of the BAF and proposed timing of future locations of additional BAFs, timing and completion of front-end engineering and design and ESIA permitting, the economic results of the BAF Technical Study including capital costs estimates, operating costs estimates, payback, NPV, IRR, production, sales pricing and working capital estimates, the construction and potential expansion of the BAFs, expansion plans, as well as the Company’s intent on becoming a fully integrated global supplier of critical battery and technology materials. These statements are based on current expectations, estimates and assumptions that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by the Company and described in the forward-looking statements contained in this press release. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do so, what benefits the Company will derive there from. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether because of new information, future events or otherwise, except as may be required by applicable securities laws. Although the forward-looking statements contained in this news release are based on what management believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with them. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.

SOURCE: NextSource Materials Inc.

View the original press release on ACCESS Newswire

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Solvonis Therapeutics plc (LSE: SVNS), an emerging biopharmaceutical company developing novel medicines for high-burden central nervous system (‘CNS’) disorders, announces that it has received a Notice of Allowance (the ‘Allowance’) from the United States Patent and Trademark Office (‘USPTO’) for a series of compounds within its proprietary SVN-SDN-14 Post-Traumatic Stress Disorder (‘PTSD’) discovery programme. One compound from this series is currently being evaluated alongside other candidates, with a lead compound expected to be selected in Q1 2026 in line with prior guidance.

The Allowance strengthens the intellectual property foundations of SVN-SDN-14 at an important stage as the programme advances toward lead-candidate selection. In addition to this IP milestone, the Company is highlighting the scientific significance of the newly protected compounds in addressing long-standing challenges in the development of next-generation PTSD therapeutics.

Scientific significance

SVN-SDN-14 is focused on developing serotonin (‘SERT’), dopamine (‘DAT’) and noradrenaline (‘NET’) modulators designed to support pro-social engagement and improve the effectiveness of psychological therapy in PTSD.

While balanced modulation of these pathways is increasingly recognised as therapeutically valuable, translating this biology into a practical medicine has historically been difficult. Key challenges have included controlling duration of action, managing variability between patients, and ensuring compatibility with scalable, real-world clinical use.

The newly allowed patent covers a novel chemical series designed to retain the core SERT, DAT and NET activity underpinning the programme, while introducing greater pharmacological control through predictable metabolic deactivation. This approach is intended to maintain therapeutic effects while improving dosing flexibility, safety margins and overall suitability for clinical use.

In allowing the claims, the USPTO examiner concluded that no existing patents or publications disclosed or suggested the claimed compounds, confirming the novelty of the approach.

Professor David Nutt, Chief Scientific Officer of Solvonis, commented: ‘These compounds are scientifically exciting because they address a long-standing challenge in this field. They are designed to preserve the monoaminergic profile that supports positive social engagement in therapy, while introducing a level of pharmacokinetic control that has historically been difficult to achieve. This increases our confidence that the core biology of SVN-SDN-14 can be translated into a medicine that is practical to develop, regulate and ultimately deploy.’

Anthony Tennyson, Chief Executive Officer of Solvonis, added: ‘This patent allowance strengthens both the scientific and commercial foundations of our PTSD programme. It reflects our strategy of combining rigorous neuroscience with disciplined medicinal chemistry to build differentiated, scalable CNS therapeutics.’

Enquiries:

Solvonis Therapeutics plc

Via Walbrook

Anthony Tennyson, CEO & Executive Director

Singer Capital Markets (Broker)

+44 (0) 20 7496 3000

Phil Davies

Walbrook PR (PR/IR advisers)

Tel: +44 (0)20 7933 8780 or solvonistherapeutics@walbrookpr.com

Anna Dunphy

Mob: +44 (0)7876 741 001

Lianne Applegarth

Mob: +44 (0)7584 391 303

Rachel Broad

Mob: +44 (0)7747 515 393

About Solvonis Therapeutics plc

Solvonis Therapeutics plc (LSE: SVNS) is an emerging biopharmaceutical company developing novel small-molecule therapeutics for high-burden central nervous system (CNS) disorders. Headquartered in London and listed on the main market of the London Stock Exchange, Solvonis is advancing a differentiated pipeline of repurposed and novel compounds across addiction, psychiatry, and neurology.

The Company’s lead programmes address Alcohol Use Disorder (AUD) and Post-Traumatic Stress Disorder (PTSD), with additional discovery work supporting expansion into broader CNS indications. Its lead asset, SVN-001, is currently in Phase 3 for severe AUD in the UK, while SVN-002 is preparing for a Phase 2b trial in the US targeting moderate-to-severe AUD. The preclinical PTSD programme (SVN-SDN-14) leverages novel serotonin-dopamine modulators designed to enhance pro-social behaviour and long-term outcomes.

In parallel, Solvonis is advancing proprietary CNS discovery programmes built on a dedicated compound library to identify new small-molecule modulators of key neurotransmitter systems. This platform enables efficient early-stage innovation and supports the Company’s integrated approach to developing therapies across its three strategic pillars.

With a capital-efficient model, dual development strategy, and near-term partnering opportunities, Solvonis is positioned to deliver sustained value through innovation in CNS therapeutics.

solvonis.com | LinkedIn | X (Twitter)

Source

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Critical Mineral Resources plc (“CMR”, “Company”) is pleased to report that its newly commissioned diamond drill rig has successfully produced its first core from Zone 1 North, marking an important operational milestone and supporting the next phase of exploration and project advancement.

The hole was drilled to a depth of 30m and includes core with observable copper mineralisation. The rig has now moved to the next pad where drilling has already commenced. The next set of assay results are expected in early February.

The rig’s commissioning was completed efficiently and included the integration of a Moroccan-sourced water recycling system.

Key Highlights

  • First core has been recovered at Zone 1 North from the Company’s recently commissioned diamond rig
  • Visible copper mineralisation observed in the core, consistent with the Company’s expectations and many of the previous holes
  • Company-owned drill rig expected to underpin lower drilling costs and improved drilling flexibility
  • The drilling team has provided very positive feedback about the Multi-Power Discovery HD rig
  • Rig’s capability provides optionality to test deeper targets, including the potential source of mineralised rhyolite
  • Strong, experienced Morocco-based team positioned to support an accelerated programme through 2026

Fig.1 First drill core from recently commissioned diamond drilling rig with observable copper mineralisation

Source: Company

Charlie Long CEO commented:

“The commissioning of our company owned drill rig is a genuine step-forward for the project. Having this capability in-house gives us far greater control over the drill programme and paves the way for reduced drilling costs.

Our drilling team is reporting that the Multi-Power Discovery HD is powerful, productive and straightforward to operate, making rapid progress through carbonate and igneous rocks. Importantly it also provides us with the capability to explore deeper targets as required, including as we continue hunting for the source of the mineralised rhyolite.

Credit goes to our Moroccan drilling team, expertly led by our COO Noureddine, and our dedicated JV partner, who commissioned the rig smoothly and installed a locally sourced water recycling system without issue. Morrocco continues to stand out as highly capable mining jurisdiction, not only for its regulatory environment but the depth of practical expertise available on the ground.

That expertise will be increasingly important through 2026, as we progress Agadir Melloul towards production, supported by Moroccan experts with direct experience of developing and building multiple mines, including copper floatation operations”

Competent Person Statement

The technical exploration and mining information contained in this announcement has been reviewed and approved by Mr. Robert Nigel Chapman. Mr. Chapman has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity to which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves and as a qualified person under the AIM Note for Mining, Oil and Gas Companies. Mr. Chapman is an employee of Luna Recursos Naturales SAC, an independent geological consultancy established in 2014 and is a Member of the Australasian Institute of Geoscientists (A.I.G.) Mr. Chapman has visited Agadir Melloul and consents to the inclusion in this Announcement of such information in the form and context in which it appears.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.

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 an exploration and development company focused on developing assets that produce critical minerals for the global economy, including those essential for electrification and the clean energy revolution. Many of these commodities are widely recognised as being at the start of a supply and demand super cycle.

CMR is building a diversified portfolio of high-quality metals exploration and development projects in Morocco, focusing on copper, silver and potentially other critical minerals and metals. 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, the Company acquired an 80% stake in leading Moroccan exploration and geological services company Atlantic Research Minerals SARL.

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

Source

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