Eagle Energy Metals Corp. (“Eagle”), a next-generation nuclear energy company with rights to the largest conventional, measured and indicated uranium deposit in the United States, today announced that it has completed its business combination with Spring Valley Acquisition Corp. II (OTC: SVIIF) (“SVII”), a special purpose acquisition company (the “Business Combination”). The Business Combination was approved by SVII shareholders in a special meeting held on February 23, 2026 and formally closed on February 24, 2026.

The new combined company will operate as “Eagle Nuclear Energy Corp.” (“Eagle Nuclear”). On February 25, 2026, Eagle Nuclear’s common stock and public warrants will begin trading on the Nasdaq under the ticker symbols “NUCL” and “NUCLW”, respectively.

Mark Mukhija, Eagle’s CEO, commented: “The completion of our business combination with SVII is the culmination of months of hard work and company development. The closing of this transaction marks another key milestone in our efforts to rebuild a secure domestic nuclear supply chain here in the United States. Anchored by our significant uranium deposit and SMR technology, we believe we are well positioned to restore American leadership in the nuclear industry at a time when AI, quantum computing, and cryptocurrency are driving unprecedented electricity demand. We are optimistic about the path ahead and look forward to addressing electricity demand and uranium market needs moving forward.”

Chris Sorrells, Chairman & CEO of SVII, added: “Today’s successful merger completion marks a significant milestone for our company, our shareholders and the future of the U.S. nuclear industry. Eagle is a unique partner, with significant domestic uranium capabilities that can directly respond to market demand, alongside record private investments in U.S. nuclear projects. We look forward to working closely with the Eagle team as they continue to address the need for domestic uranium production.”

Advisors

Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC, is the exclusive financial advisor, lead capital markets advisor and private placement agent to SVII. Greenberg Traurig, LLP is serving as legal counsel to SVII, and Nelson Mullins Riley & Scarborough LLP is serving as legal counsel to Eagle. Gateway Group is serving as investor relations and public relations advisor for the transaction.

About Eagle Energy Metals Corp.

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

For more information about Eagle Energy Metals Corp., visit www.eagleenergymetals.com.

About Spring Valley Acquisition Corp. II

Spring Valley Acquisition Corp. II (“Spring Valley II”) is part of a family of investment vehicles formed for the purpose of acquiring or merging with a business focused on the Power Infrastructure and Decarbonization sectors. Over the past five years, Spring Valley has raised $920 million across four IPOs. Spring Valley II is led by Christopher D. Sorrells, Chief Executive Officer and Chairman, and Robert Kaplan, Chief Financial Officer and Head of Business Development. Spring Valley I successfully completed its business combination with NuScale Power (NYSE: SMR), a leading U.S. small modular reactor (“SMR”) technology company, and Spring Valley II successfully completed its business combination with Eagle Energy Metals, a next-generation nuclear energy company that combines domestic uranium exploration with proprietary SMR technology. Spring Valley III has announced a business combination with General Fusion, a global leader in fusion energy developing a differentiated, engineering-driven approach to commercial fusion power.

SVII maintains a corporate website at https://sv-ac.com.

Cautionary Note Regarding Forward-Looking Statements

Certain statements included in this press release are not historical facts but are forward-looking statements. All statements other than statements of historical facts contained in this press release are forward-looking statements. Any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are also forward-looking statements. In some cases, you can identify forward-looking statements by words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “strategy,” “future,” “opportunity,” “may,” “target,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” “preliminary,” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements include, without limitation, SVII’s, Eagle Nuclear’s, Eagle’s, or their respective management teams’ expectations concerning the Business Combination and expected benefits thereof; the outlook for Eagle’s or Eagle Nuclear’s business; the abilities to execute Eagle’s or Eagle Nuclear’s strategies; projected and estimated financial performance; anticipated industry trends; the future price of minerals; future capital expenditures; success of exploration activities; mining or processing issues; government regulation of mining operations; and environmental risks; as well as any information concerning possible or assumed future results of operations of Eagle or Eagle Nuclear. The forward-looking statements are based on the current expectations of the respective management teams of Eagle, Eagle Nuclear, and SVII, as applicable, and are inherently subject to uncertainties and changes in circumstance and their potential effects. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, (i) market risks; (ii) the effect of the Business Combination on Eagle’s business relationships, performance, and business generally; (iii) risks that the Business Combination disrupts current plans of Eagle and potential difficulties in its employee retention as a result of the Business Combination; (iv) the outcome of any legal proceedings that may be instituted against Eagle or SVII related to the Business Combination; (v) failure to realize the anticipated benefits of the Business Combination; (vi) the inability to maintain the listing of Eagle Nuclear’s securities on Nasdaq Capital Market or a comparable exchange; (vii) the risk that the price of Eagle Nuclear’s securities may be volatile due to a variety of factors, including changes in laws, regulations, technologies, natural disasters or health epidemics/pandemics, national security tensions, and macro- economic and social environments affecting its business; (viii) fluctuations in spot and forward markets for lithium and uranium and certain other commodities (such as natural gas, fuel oil and electricity); (ix) restrictions on mining in the jurisdictions in which Eagle operates; (x) laws and regulations governing Eagle’s operation, exploration and development activities, and changes in such laws and regulations; (xi) Eagle’s ability to obtain or renew the licenses and permits necessary for the operation and expansion of its existing operations and for the development, construction and commencement of new operations; (xii) risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, potential unintended releases of contaminants, industrial accidents, unusual or unexpected geological or structural formations, pressures, cave-ins and flooding); (xiii) inherent risks associated with tailings facilities and heap leach operations, including failure or leakages; the speculative nature of mineral exploration and development; the inability to determine, with certainty, production and cost estimates; inadequate or unreliable infrastructure (such as roads, bridges, power sources and water supplies); (xiv) environmental regulations and legislation; (xv) the effects of climate change, extreme weather events, water scarcity, and seismic events, and the effectiveness of strategies to deal with these issues; (xvi) risks relating to Eagle’s exploration operations; (xvii) fluctuations in currency markets; (xviii) the volatility of the metals markets, and its potential to impact Eagle’s ability to meet its financial obligations; (xix) disputes as to the validity of mining or exploration titles or claims or rights, which constitute most of Eagle’s property holdings; (xx) Eagle’s ability to complete and successfully integrate acquisitions; (xxi) increased competition in the mining industry for properties and equipment; (xxii) limited supply of materials and supply chain disruptions; (xxiii) relations with and claims by indigenous populations; (xxiv) relations with and claims by local communities and non-governmental organizations; and (xxv) the risk that other capital needed by Eagle Nuclear may not be raised on favorable terms, or at all. The foregoing list is not exhaustive, and there may be additional risks that neither SVII, Eagle, nor Eagle Nuclear presently know or that SVII, Eagle, and Eagle Nuclear currently believe are immaterial. You should carefully consider the foregoing factors, any other factors discussed in this press release and the other risks and uncertainties described in the “Risk Factors” section of the Form 10-K filed by SVII for the year ended December 31, 2024, the risks described in the registration statement on Form S-4 initially filed by Eagle Nuclear on September 30, 2025, and the definitive proxy statement / prospectus contained therein, and any amendments or supplements thereto, and those discussed and identified in other filings made with the SEC by SVII, Eagle Nuclear or Eagle from time to time, which may be found on the SEC’s website at www.sec.gov. Eagle, Eagle Nuclear, and SVII caution you against placing undue reliance on forward-looking statements, which reflect current beliefs and are based on information currently available as of the date a forward-looking statement is made. Forward-looking statements set forth in this press release speak only as of the date of this press release. Neither Eagle, SVII, nor Eagle Nuclear undertakes any obligation to revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs. In the event that any forward-looking statement is updated, no inference should be made that Eagle Nuclear, Eagle or SVII will make additional updates with respect to that statement, related matters, or any other forward-looking statements.

Investor Relations Contact:

775-335-2029
info@eagleenergymetals.com

Media Relations Contact:

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

Source

Faraday Copper (TSX:FDY,OTCQX:CPPKF) has signed a letter of intent (LOI) to acquire BHP’s (ASX:BHP,NYSE:BHP,LSE:BHP) San Manuel property, which sits next to its Copper Creek project in Arizona.

The company says the move will combine the two adjacent assets into a single US-focused copper district.

San Manuel includes the legacy San Manuel and Kalamazoo deposits, the former plant site, closed tailings facilities and surrounding BHP-owned land, along with related mineral rights, quarries and associated assets.

The mine operated between 1955 and 1999 as one of the largest underground copper mines in the US, producing more than 4.5 million metric tons of copper. Faraday will assume all environmental and closure liabilities tied to the property.

Copper Creek, which is located roughly 80 road kilometers northeast of Tucson and about 19 kilometers from San Manuel, is a porphyry copper project that is 100 percent owned by Faraday.

The firm released an updated resource estimate and a preliminary economic assessment in 2023.

The deposit remains open in all directions and hosts both breccia-hosted and vein-style mineralization. Faraday says significant exploration upside remains, with less than 15 percent of known breccia occurrences drill tested.

The proposed consolidation would add approximately 27,000 acres of private land and access to existing regional infrastructure. Faraday has also outlined a staged development concept prioritizing copper cathode production, followed by open-pit sulfides and later underground operations.

If completed, the transaction would see Faraday issue common shares to BHP equivalent to a 30 percent interest in the company on a fully diluted basis at closing.

BHP would also receive customary investor rights so long as it maintains a minimum shareholding.

“This agreement provides the opportunity for a transformative acquisition as it looks to consolidate two adjacent and complementary assets in the heart of the Arizona copper corridor at a time when sourcing of critical minerals within the USA is essential,” Faraday President and CEO Paul Harbidge said in a release.

“The combined project has the potential to become a multi-generational copper district delivering made-in-America copper, while providing significant economic opportunities to the local communities.”

For BHP, the deal would convert a legacy asset into a strategic equity position in a junior developer focused on US copper at a time when market participants are increasingly calling for a supply crunch.

The LOI includes a six month exclusivity period and a financing participation clause under which BHP has agreed to subscribe for 30 percent of any Faraday equity raise over the next 24 months, up to US$20 million.

Separately, Faraday recently announced a non-brokered private placement of up to C$100 million priced at C$4.20 per share. Strategic investors, including the Lundin Family Trusts and BHP, intend to participate.

The proceeds are earmarked primarily for advancing copper projects in Pinal County, including expenses related to the planned San Manuel acquisition.

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

Germany’s medical cannabis market exploded in 2025, with prescriptions surging 3,300 percent from March 2024 to December 2025, per Bloomwell Group’s Cannabis Barometer.

That’s according to Niklas Kouparanis and Dr. Julian Wichmann, co-founders of the Bloomwell Group, a Frankfurt-based cannabis company that operates Germany’s largest digital platform for medical cannabis.

According to the report’s authors, this environment is setting the stage for Germany’s medical cannabis market to quickly become one of the largest in Europe.

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

The Prospectors & Developers Association of Canada (PDAC) will bring together the mineral exploration and mining community in Toronto for its 94th annual Convention, taking place March 1 – 4, 2026, at the Metro Toronto Convention Centre (MTCC).

As the World’s Premier Mineral Exploration & Mining Convention, PDAC 2026 will draw industry leaders, investors, government representatives, Indigenous communities and students from around the world for four days of investment, insight and networking.

“PDAC 2026 comes amid intensifying global competition to secure the minerals underpinning modern economies,” said PDAC President Karen Rees. “At a time of accelerating demand, the convention is where leaders convene to advance projects, strengthen partnerships and shape the future of the industry.”

The convention will span the full Metro Toronto Convention Centre, reflecting strong internationaldemand and underscoring PDAC’s role at the centre of the sector. Participants will have access to expansive exhibit halls, comprehensive programming including technical sessions, short courses and keynote presentations addressing the trends and challenges shaping mineral exploration and development.

“PDAC 2026 will feature the largest trade show footprint in our history, with more than1,300 exhibitors across the North and South buildings of the MTCC,” Rees added. ‘That breadth gives participants a clear view of the projects, technologies and ideas defining the sector.’

Opportunities to evaluate projects and connect with company leadership will be available through the Trade Show, Investors Exchange, Core Shack, Prospectors Tent and Corporate Presentations for Investors. Throughout the week, networking events, including the Awards Celebration & Nite Cap,will bring the global industry together to recognize excellence and build new relationships.

Registration is available at pdac.ca/convention-2026.

About PDAC

The Prospectors & Developers Association of Canada (PDAC) is the leading voice of the mineral exploration and development community, an industry that employs more than 724,000, and contributed $156 billion to Canada’s GDP in 2024 (Natural Resources Canada, February 2025). Currently representing over 8,200 members around the world, PDAC’s work centres on supporting a competitive, responsible, and sustainable mineral sector. Visit pdac.ca for more information.

Media contact

Scott Barber
Director, Communications
sbarber@pdac.ca
416-362-1969 x 244

Source

Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) (‘Fathom’, or the ‘Company‘) is pleased to announce the completion of the winter trail, and mobilization of drilling and ancillary equipment to the Gochager Lake project. Drilling of the 3,000-to-4,000-meter program is expected to begin during the first week of March 2026.

Ian Fraser, Fathom CEO and VP Exploration stated, ‘Our field crews have worked very hard getting the winter trail in place in spite of abnormally warm weather and challenges created by recent wildfires in the area. With overland access and lake trails now in place, it is go time! We plan to be drilling by the first week of March. The initial drillholes will test the very robust ‘Camp’ multi-element soil/rock geochemical anomaly, located 1.5km along strike of the historic deposit. The expanded ‘footprint’ and potential scale at the project is supported by the mapped Gochager-like geology/mineralization now recognized 3.5km along strike east-northeast of the deposit. Drillholes will also test the strike extension of the historic deposit to the immediate east-northeast, in an area of favourable geology and geochemistry that extends >500 meters towards Scurry Lake. This is a very exciting time for our Company and shareholders. We have methodically developed these high priority drill targets, and we very much look forward to the results.’

The Company is fully funded to complete the proposed drill program. If the full drill program is not completed by spring break-up in mid-April, we intend to complete the full 3,000-to-4,000-meter drill program in late-May/early- June 2026.

Comments on Figures 1 and 2:

• Figure 1 emphasises the >8km trend defined by Ni in-soil geochemical anomaly(s). The Ni in-soil anomalous trend is also supported with anomalous to very anomalous Cu, Co in-soil, along with anomalous to very anomalous Mg and Cr. Mg and Cr are key pathfinder elements and indicators of subsurface mafic-ultramafic rock; the Gochager Lake deposit ‘Container Rock’. The east-northeast trend coincides with mineralized variable-texture gabbro mapped in outcrop up to 3.5km along trend of the deposit. Mineralized variable-texture gabbro at the deposit hosts the steeply oriented, high-grade chutes and lenses of Ni-Cu-Co semi-massive to massive sulphide mineralization intersected by Fathom drilling.

• Figure 2 illustrates initial drill target priority areas:
  • Area A – The Camp anomaly is defined by the >900m long multi-element soil geochemical anomaly and associated with mapped outcrops of variable-texture gabbro and mafic to ultramafic rock. Elevated Cu, coincident with elevated Ni in rock samples, strongly indicates control by magmatic sulphide processes. A mapped and sampled outcrop occurring between Scurry and Rainbow Lakes that mimics the deposit stratigraphy and, specifically, mineralized variable-texture gabbro, has a Ni-tenor of 4.51% Ni* (Fathom Press Release January 28, 2026). Furthermore, rock grab samples collected in this area returned anomalous Pt values (40-60ppb), and Pd values (20-30ppb).
  • Area B – Gochager East Extension Anomalies cover the >500m distance along strike east-northeast of the Gochager Lake deposit to the shore of Scurry Lake. Within this area, the soil anomalies exhibit a stronger response than the Gochager deposit. EM anomalies, defined by surface geophysical surveys remain untested, and off-hole BHEM anomalies from drillhole GL23011 remain untested. Mapped geology confirms the extension of mineralized variable-texture gabbro, and Ni-tenors up to 5% Ni* in outcrop have been recorded. Coincident with elevated Ni in outcrop, elevated Cu is prominent which strongly suggests a magmatic sulphide control.
  • Area C – The North Gochager Lake Anomaly defines the highest Ni in-soil geochemical anomaly observed to date (1650 ppm Ni, 116.5ppm Cu, 373ppm Co). Rock samples collected (grab, and pXRF chip samples) at this anomaly returned elevated Ni, Cu, Cu but in a non-mafic to ultramafic rock type. Drilling here is designed to better understand the geology and to ascertain a possible subsurface, mineralized mafic-ultramafic body as the source of the multi-element soil geochemical anomaly.
  • Area D – The Wolf Lake Anomaly is a standalone multi-element (Ni, Cu, Co, Mg, Cr) soil anomaly measuring 1500m x 400m (note: the anomaly not fully defined due to the gap in data caused by the 2025 wildfire). Drilling in this area is designed to gain an understanding of the underlying geology. An initial understanding of the Wolf Lake Anomaly will impact follow-up summer field activities and surface geophysics in the area. It is unlikely that this target will be tested during the winter drilling campaign due to logistical and time constraints.

*Ni-tenor is the quantity of nickel contained within the sulphide component of the rock. At the Gochager Lake deposit, various styles of sulphide mineralization in gabbroic and ultramafic rock demonstrate Ni-tenors ranging from 2% to 5%. Ni-tenor is the percentage of nickel in sulphide only and is reported as the weight percent nickel in 100% sulphide. Fathom only reports Ni-tenor calculations in drill core and rock assay samples where assays report ≥1% sulphur. Calculations on samples below 1% sulphur tend to be inaccurate with respect to contained nickel in the sulphide component.

Figure 1 – Gochager Lake Deposit Hosted in >8km Multi-Element Soil Geochemistry Trend

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7843/285052_a74673f88416797c_002full.jpg

Figure 2 – Drill Target Areas

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7843/285052_a74673f88416797c_003full.jpg

Quality Assurance / Quality Control (QA/QC) Disclosure Statement

As part of its ongoing exploration activities, Fathom is utilizing a portable Vanta XRF Analyzer (‘pXRF’) to provide real-time lithogeochemical, multi-element data on surface rock chip samples and rock grab samples collected in the field. The Vanta XRF Analyzer is a hand-held device, held in position for a total 120 seconds – beam 1 (30 seconds), beam 2 (60 seconds) and beam 3 (30 seconds) to allow for an effective reading of elements occurring at that specific point, and at that specific surface of a rock sample. All elements detected at that specific point; nickel, copper, cobalt plus key pathfinder elements, chrome and magnesium, are recorded. The reader is cautioned that pXRF data should be treated only as an indication of elements, as the accuracy of the beam position on a particular element is variable.

Qualified Person and Data Verification

Ian Fraser, P.Geo., CEO, VP Exploration and a Director of the Company and the ‘qualified person’ as such term is defined by National Instrument 43-101, has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of the Company.

About Fathom Nickel Inc.

Fathom is an exploration company that is targeting magmatic nickel sulphide discoveries to secure the supply of North American Critical Minerals and to support the global green energy transition. The Company now has a portfolio of three high-quality exploration projects located in the prolific Trans Hudson Corridor in Saskatchewan:

1) The Albert Lake Project, a 90,000+ hectare project that hosts the historic Rottenstone Mine1. Fathom exploration to date at the Albert Lake project confirms:

• The high-grade Ni-Cu-Co+3E1 Rottenstone deposit mineralization extends to the south a minimum 40m and remains open.
• The Rottenstone deposit is potentially offset and continues within the footwall of a prominent fault defined by drilling.
• A new Rottenstone-like discovery (similar host rock, and similar mineralization) by drilling 500-550m W-NW of the historic mine; the 300+m Bay Island Trend, remains open along strike.
• Similar Rottenstone-like host rock and mineralization intersected by drilling approximately 1.5km S-SW of the historic mine (the Nic5-Tremblay-Olson area).

2) The 33,000+ hectare Gochager Lake Project that hosts the historic Gochager Lake deposit2. Fathom exploration to date at the Gochager Lake project confirms:

• Vertical extension of Ni-Cu-Co mineralization a minimum of 150m below the historic Gochager Lake deposit interpreted boundary, and very good potential for expansion of mineralization in all directions.
• Multiple high-grade vertically oriented Ni-Cu-Co sulphide breccia mineralization zones and chutes occur within the historic deposit, and the zones, chutes remain open for further expansion and delineation in all directions.
• Surface mapping and rock geochemistry has confirmed the Gochager Lake deposit host/container rock extends 3.5+ km along strike east-northeast of the deposit.
• Soil geochemistry has defined a favourable geochemical footprint, inclusive of the historic deposit, that now extends 8.6+ km.

3) The 10,000+ hectare Friesen Lake Project located 40km southwest of the historic Rottenstone Mine and 30km northwest of the historic Gochager Lake deposit.

The Friesen Lake property hosts the Olsen Cu-Ni-Pt Showing also referred to as the Friesen Lake Cu-Ni-Pt showing and is described as an ultramafic dyke that historic trenching and drilling demonstrates Cu-Ni-Pt-Pd and Au mineralization within the ultramafic dyke (Saskatchewan Mineral Deposit Index (SMID) #0928a). To date Fathom has not performed any exploration at the Friesen Lake Project.

1 – The Rottenstone Mine; a small open-pit mining / milling operation was in production 1965-1969. Mining in 1965 produced 5,500 short tons with a reported average production grade of 3.23% Ni, 1.83% Cu, 0.14 oz/ton Pt, 0.10 oz/ton Pd, 0.03 oz/ton Au (9.26 g/t*3E, 3E = Pd-Pt+Au) and 0.20 oz/ton Ag. Initial milling of mine concentrate; September 5 – November 7, 1965, produced 1,070 dry short tons of concentrate that averaged 10.83% Ni, 5.74% Cu, 0.33 oz/ton Pt, 0.53 oz/ton Pd, 0.10 oz/ ton Au (32.91 g/t* 3E) and 1.25 oz/ton Ag. Richards, B.R. and Robinson, B.G.W. (1966), Mining and milling a small ore deposit …. Rottenstone Mining Limited: The Canadian Mining and Metallurgical Bulleting for December 1966. The Saskatchewan Mineral Deposit Index (SMDI) #0958 reports final mine production in 1969 of 28,724 tons with an average grade of 3.28% Ni, 1.83% Cu and 9.63 g/t 3E and that approximately 9,000 tons of concentrate were sold to the International Nickel Company of Canada Limited. * A factor of 34.286 g/tonne was used to convert 1 oz/ton to g/tonne (g/t).

2 – The Gochager Lake property is host to the historic Gochager Lake Ni-Cu deposit. There is no source or available Technical Reports to verify the historic resource estimate for the Gochager Lake deposit; hence, Fathom will treat the historic estimate as an Exploration Target. Available records in the Saskatchewan Mineral Deposit Index (SMDI) and Saskatchewan Mineral Assessment Database (SMAD) suggest an Exploration Target of 4-5 million tons grading 0.3% Ni – 0.4% Ni and 0.08% Cu – 0.09% Cu. The potential quantity and grade are conceptual in nature, there has been insufficient exploration to define a mineral resource, and that it is uncertain if further exploration will result in the target being delineated as a mineral resource. At present, Fathom has drilled 16 drillholes (5,549m) into the historic Gochager Lake deposit and has confirmed Ni-Cu grades comparable to and higher than the historical grades reported, thus confirming that a deposit of Ni-Cu+Co metal accumulation does exist at the historic Gochager Lake deposit / property. The disclosed potential quantity and grade has been determined by historic records notably; the Saskatchewan Mineral Deposit Index and Saskatchewan Mineral Assessment Database. (SMDI #0880) reports delineation drilling outlined a deposit at the historic Gochager Lake Deposit; Steel, J.S. (1990), (SMAD 73P15-0091): Report on a Diamond Drilling Program on the Gallagher (Gochager) Lake Property of McNickel Inc., reported that Scurry-Rainbow Oil Ltd. constructed vertical sections and a longitudinal section from drill data collected 1966-1968, and an orebody with reasonably well-defined limits was interpreted. As stated above, the historic estimate is not well documented and there are no available Technical Reports to support the historic resource estimate(s).

For further information, please contact:

Ian Fraser, Chief Executive Officer & Vice-President Exploration
1-403-650-9760
Email: ifraser@fathomnickel.com

or

Doug Porter, President & CFO
1-403-870-4349
Email: dporter@fathomnickel.com

Forward-Looking Statements:

This news release contains ‘forward-looking statements’ that are based on expectations, estimates, projections and interpretations as at the date of this news release. Forward-looking statements are frequently characterized by words such as ‘plan’, ‘expect’, ‘project’, ‘seek’, ‘intend’, ‘believe’, ‘anticipate’, ‘estimate’, ‘suggest’, ‘indicate’ and other similar words or statements that certain events or conditions ‘may’ or ‘will’ occur, and include, without limitation, statements regarding completion of the Offering, price of the FT Units, Charity FT Units and HD Units, dates for closing of the Offering, amount of proceeds under the Offering, approval of the Offering by regulatory authorities, payment of commissions and finder warrants to finders and the Company incurring Qualifying Expenditures. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be ‘forward-looking statements.’ Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company’s prospects, properties and business detailed elsewhere in the Company’s disclosure record. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances except in accordance with applicable securities laws. Actual events or results could differ materially from the Company’s expectations or projections.

Source

Blencowe Resources Plc (LSE: BRES) is pleased to report the final set of assay results completed from the 87 shallow holes drilled at the Iyan deposit, part of the Company’s Orom-Cross Graphite Project in Uganda. These results represent the third batch from the Stage 7 drilling programme, with results continuing to exceed expectations and supporting the imminent maiden JORC resource estimate for the Iyan deposit, which will increase the overall Orom-Cross resource base. This maiden JORC resource will represent the first formal resource estimate for Iyan and further strengthen Orom-Cross as a multi-deposit graphite project.

This final batch completes the Stage 7 drilling programme at Iyan, providing the last data required for the maiden Iyan JORC Resource estimate, expected shortly.

Iyan forms the western extension of the Northern Syncline graphite system and is being advanced as a bulk blending deposit intended to provide consistent, near-surface, high tonnage graphite feed to support long-life, low-cost production. Results at Orom-Cross continue to demonstrate that the bulk mineralisation at Iyan is accompanied by repeated higher-grade zones, providing flexibility within mine planning for blending and supporting overall project value.

These latest shallow holes were drilled to approximately 30 metres depth, deliberately selected to define near-surface mineable material rather than test geological limits. Mineralisation was intersected from surface in most holes, with several ending in mineralisation, indicating potential for continuation below the current drilling depth. This is consistent with all previous results at Iyan. The northern area highlights some barren intrusions in the upper areas but also indicates strong grade intercepts at depth below the barren overlying materials.

Iyan Drilling – Highlights

• Final assay batch drilling results continue to exceed expectations and support imminent maiden JORC resource estimate for Iyan, increasing the overall Orom-Cross resource base
• Thick, laterally continuous near-surface graphite mineralisation confirmed
• Multiple intercepts of >30m from surface, with several holes ending in mineralisation
• Iyan will be developed as a bulk blending deposit, supporting efficient, low-strip mining
• Higher-grade zones persist within bulk mineralisation, enhancing blending flexibility
• Results support near-term resource growth, larger-scale development and ongoing funding and offtake discussions
• Southern drill lines indicate potential extension of mineralisation toward the Northern Syncline hinge

Selected Significant Shallow Intercepts – Iyan Deposit

(Selected downhole intervals; mineralisation from surface unless stated otherwise)

• NSDD-L103: 15.64m @ 10.13% TGC, including 5.02m @ 14.42% TGC and 1.00m @ 18.37% TGC
• NSDD-L307: 9.44m @ 11.42% TGC, including 4.00m @ 15.96% TGC and 1.00m @ 18.89% TGC
• NSDD-L508: 13.71m @ 8.26% TGC, including 4.01m @ 11.00% TGC (ended in mineralisation)
• NSDD-L503: 10.72m @ 8.18% TGC, including 3.06m @ 12.37% TGC
• NSDD-L408: 9.60m @ 8.95% TGC from surface, including 2.50m @ 13.76% TGC
• NSDD-L402: 10.00m @ 7.96% TGC, including 4.00m @ 10.82% TGC

These results are consistent with the broader Orom-Cross system and support mine planning and the bulk blending strategy, reinforcing the scale and continuity ahead of the maiden Iyan JORC resource estimate.

JORC Update Q1 2026

The final assay results are now being validated and modelled by the independent geological consultants, Minrom, and are expected to deliver the maiden JORC resource estimate for Iyan in Q1 2026. This will increase the overall Orom-Cross resource and support ongoing funding and offtake discussions as they continue to advance.

Beehive Drilling Results Pending

In parallel, substantial assay results at the nearby Beehive deposit remain pending. Earlier deep drilling returned very strong grades at depths of up to approximately 100 metres. Assay results from the completed shallow drilling programme at Beehive, comprising approximately 110 holes drilled to approximately 30 metres depth, are expected to be reported regularly in batches and are anticipated to further contribute to overall Orom-Cross resource growth, with a maiden JORC resource estimate for Beehive expected to follow.

Blencowe Resources Executive Chairman, Cameron Pearce commented:

‘These further great results from Iyan continue to exceed our expectations. We are seeing thick graphite from surface, strong grades, and excellent consistency across the deposit, which is exactly what we need as we build scale at Orom-Cross.

With the maiden Iyan JORC estimate now imminent, these results clearly demonstrate the size and quality of the resource. This is particularly important as we progress funding discussions, as it reinforces the long-life, large-scale development potential of Orom-Cross.

The maiden Iyan JORC will mark another important step in demonstrating the full scale of Orom-Cross.

Importantly, we still have significant upside ahead. Many holes continue to end in mineralisation, and Beehive drilling results remain to come, which we expect will further strengthen the overall resource base.’

Iyan Deposit – Key Drill Results

Figures 1-2: Iyan Deposit drill sections showing thick, continuous graphite mineralisation remaining open at depth, remaining sections 1-5, 7, and 9

For further information please contact:

Map 1: Showing the 4x Orom-Cross deposits, including Camp Lode, Northern Syncline, and new Iyan (NS western limb) and Beehive (GT 01a) deposits.

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Altona Rare Earths plc (LSE: REE), the critical raw materials exploration and development company focused on Africa, is pleased to announce that it has applied for its ordinary shares to be admitted to trading on the OTCQB Venture Market in the United States ( ‘OTCQB’).

The Company has submitted its application for its ordinary shares to be quoted on the OTCQB Venture Market, a recognised US trading platform for established and developing companies. No new shares will be issued in connection with the OTCQB quotation, and admission remains subject to the approval of the OTCQB and the satisfaction of applicable listing requirements. The Company’s shares will continue to trade on the London Stock Exchange Main Market under the ticker ‘REE’.

Strategic Alignment with US Engagement

This application represents a natural and strategic step following the Company’s recent successful engagement with the US Trade and Development Agency (USTDA). As announced on 9 February 2026, Altona received confirmation of USTDA support for the Monte Muambe rare earths project, validating the project’s relevance to US critical mineral supply chains. The signature of the grant agreement is expected to be imminent.

Enhancing Visibility and Access

The Board believes that admission to trading on the OTCQB will:

• Provide North American institutional and retail investors with the same convenience to invest as those in the UK
• Increase the Company’s visibility among North American investors seeking exposure to critical minerals, particularly rare earths, as well as potential strategic partners
• Enhance liquidity and broaden the Company’s shareholder base over time

The OTCQB’s reporting and listing requirements align closely with those of major non-US stock exchanges, making seamless access straightforward for London Stock Exchange Main Market companies such as Altona.

Next Steps

This application represents an initial but important step in a broader strategic alignment with US partners and investors and the Board will continue to develop and evaluate supporting growth strategies as it advances the Monte Muambe rare earths project through its next phases of development.

Cedric Simonet, CEO, commented: ‘Our application to trade on the OTCQB follows the positive outcome of our engagement with USTDA and reflects the growing strategic alignment between Altona, our Monte Muambe project and US critical mineral priorities. With this foundational step now complete, we believe the momentum is right to begin strategically positioning the Company towards the North American capital markets.’

To subscribe for RNS alerts, please visit: https://investors.altonare.com/

Altona Rare Earths Plc

Cédric Simonet, CEO +44 (0) 7778 866 108 (cs@altonare.com)

Louise Adrian, CFO +44 (0) 7721 492 922 (la@altonare.com)

Strand Hanson (Financial Adviser) +44 (0) 20 7409 3494
Christopher Raggett
Imogen Ellis

Zeus Capital (Corporate Broker) +44 (0) 20 3829 5000
Simon Johnson
James Hornigold

About Altona Rare Earths Plc

Altona Rare Earths Plc (ticker: REE) is a London Main Market-listed exploration and development company focused on unlocking the value of critical raw materials across Africa. The Company is pursuing a diversified strategy, targeting assets with potential for near-term monetisation alongside long-term growth.

The multi-commodity Monte Muambe Project in northwest Mozambique is a highly prospective tenement hosting rare earths, fluorspar, and gallium mineralisation. Since acquiring the project in June 2021, Altona has drilled over 7,800 metres, delivering a maiden JORC Mineral Resource Estimate of 13.6Mt at 2.42% TREO, secured a 25-year mining licence (granted December 2024), and published a Competent Person Report and scoping study for the rare earths component of the project (October 2023). The US Government, via USTDA, has announced its support to advance the rare earths project through the prefeasibility stage and a grant agreement is expected to be formalized in early 2026

In parallel, Altona is progressing plans to fast-track the development of high-grade fluorspar veins identified along the western and southern margins of Monte Muambe, with a targeted production of 50,000 tonnes per annum of acid-grade fluorspar over a minimum 12-year mine life. Acid-grade fluorspar is a key input in a wide range of applications, including hydrofluoric acid, lithium battery electrolyte production, and nuclear fuel refining, placing Altona in a strong position to supply this critical material.

The discovery of gallium mineralisation, with grades up to 550 g/t identified to date, adds further value to Monte Muambe. The Company has established that gallium will be concentrated in fluorspar production tailings and is assessing its possible recovery as a by-product of fluorspar.

Altona’s diversified portfolio also includes the Sesana Copper-Silver Project in Botswana, strategically located just 25 km from MMG’s Khoemacau Zone 5 copper-silver mine. Situated on a recognised regional contact zone for copper deposits, Sesana represents a compelling exploration opportunity aligned with Altona’s growth strategy.

With a unique combination of critical raw materials projects, Altona is well positioned to contribute to the global supply of highly sought commodities essential for clean energy, high technology, defence and industrial applications.

The Company and the Board remain actively focused on identifying and evaluating additional projects that align with our investment profile and strategic objectives, leveraging our extensive network and combined industry experience to uncover compelling opportunities that can drive long-term growth.

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Gilead Sciences (NASDAQ:GILD) will acquire cancer immunotherapy partner Arcellx (NASDAQ:ACLX) in a deal worth up to US$7.8 billion, moving to take full control of their jointly developed multiple myeloma therapy anito-cel as it seeks to expand its oncology pipeline.

The agreement, announced Monday (February 23), gives Gilead full control of an experimental multiple myeloma treatment the companies have been developing jointly. Gilead will pay US$115 per share in cash, plus a potential additional US$5 per share tied to future sales milestones.

The therapy, known as anitocabtagene autoleucel, or anito-cel, is a next-generation CAR-T treatment targeting multiple myeloma, a blood cancer that often returns after several rounds of therapy.

So far, clinical trials suggest anito-cel can deliver lasting responses, with side effects the company says are more manageable than those seen with some current CAR-T therapies.

The drug is currently under review by the US Food and Drug Administration (FDA) as a fourth-line treatment, with a decision expected by December 23, 2026. The filing is supported by results from a Phase 1 study and the pivotal Phase 2 iMMagine1 study.

The CVR would pay out if cumulative global net sales of anito-cel reach at least US$6.0 billion from launch through the end of 2029.

“This agreement reflects our conviction in the potential of anito-cel and our intention to move with speed so we can make the most of that potential for patients with multiple myeloma,” said Daniel O’Day, Chairman and Chief Executive Officer of Gilead Sciences.

“Beyond the potential launch this year, anito-cel could become a foundational treatment for multiple myeloma over time, including earlier lines of therapy.”

The deal also gives Gilead access to Arcellx’s proprietary D-Domain platform, a technology designed to improve how engineered immune cells recognize cancer targets. Gilead said this could support future work in cell therapies, including potential in vivo approaches.

The acquisition also marks the company’s largest deal since 2020 and continues a strategy of using partnerships to secure promising oncology assets. The company has been looking to expand its cancer portfolio as sales of its COVID-19 treatment decline and long-term patent expirations approach in its core HIV franchise.

Upon FDA approval of anito-cel, Gilead expects the transaction to be accretive to earnings per share in 2028 and thereafter.

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