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Highlights:

  • The latest drill results build on Bo_RC_14/25 drill hole (previously released as 12.0 metres @ 4.27% WO₃ from 252.0 metres, incl. 6.0 metres @ 8.39% WO₃ from 252.0 metres) and collectively suggests a larger and higher-grade Breccia complex than previously modeled.
  • Bo_RC_17/25 results included 100.0 metres @ 0.21% WO₃ from 52.0 metres, including
    • 32.0 metres @ 0.33% WO₃ (MF 10.6 m%) from 92.0 metres, including 
    • 14.0 metres @ 0.52% WO₃ (MF 5.2 m%) from 106.0 metres, including 
    • 6.0 metres @ 0.74% WO₃ (MF 4.4 m%) from 110.0 metres
      South infill drill hole confirms bulk-mineable medium-grade core with well-defined high-grade corridors.
  • Bo_RC_15/25 results included 2.0 metres @ 0.97% WO₃ from 164.0 metres
    South-west deep step-out drill hole with a high-grade intersection consistent with previously reported Bo_RC_14/25 drill hole.
  • Bo_RC_22/25 results included 64.0 metres @ 0.12% WO₃ from 284.0 metres, including 
    • 16.0 metres @ 0.21% WO₃ from 316.0 metres
      New northern deep lode opens a new northern vector for resource growth.

Allied Critical Metals Inc. (CSE: ACM,OTC:ACMIF) (OTCQB: ACMIF) (FSE: 0VJ0) (‘Allied’ or the ‘Company’), which is focused on its 100% owned past producing Borralha and Vila Verde tungsten projects in northern Portugal, is pleased to announce additional significant assay results from its ongoing 4,200 metres reverse circulation (RC) drilling campaign at its Borralha Tungsten Project. The latest results from drill holes Bo_RC_1525, Bo_RC_1725, and Bo_RC_2225 extend mineralization both west and north of the previously announced Bo_RC_1425 high-grade intercept, reinforcing that the Santa Helena Breccia within the Borralha Project is emerging as a larger and higher-grade orebody than previously modeled. The Company will commence an additional fully funded 1,528 metre drilling in the fourth quarter of 2025 to build off the drilling success in July.

The results are especially timely as tungsten price has now reached a new high of U.S.$550/MTU, which is an increase of more than 40% over the past four months as demand for the critical mineral increases in the face of further supply chain restrictions from non-Western countries [Source: FastMarkets].

Roy Bonnell, CEO & Director of Allied, commented: ‘These thick, continuous intervals in the central-south and the new northern deep lode materially expand the working envelope at the Santa Helena Breccia in Borralha. Together with the previously reported ultra-high-grade intercept in Bo_RC_14/25, we see clear evidence of a system that is both bigger and better than we initially assumed. This is exactly the kind of data we want feeding into the upcoming Mineral Resource Estimate (MRE) and Preliminary Economic Assessment (PEA). Moreover, the results demonstrate the potential of Borralha as a key strategic, safe, and secure source of tungsten for Portugal, the EU and NATO.’

João Barros, President & COO of Allied, stated: ‘Tungsten is recognized by the European Union as both a critical and strategic raw material under the CRMA. With Europe producing less than 3% of its annual needs and facing increasing Chinese export restrictions, the Borralha Project represents a vital opportunity to strengthen secure, Western-aligned supply chains. Our work directly supports the EU target of sourcing at least 10% of its critical raw materials domestically by 2030, while reinforcing Portugal’s role as a key contributor to Europe’s strategic independence. ‘

General (Ret.) James A. ‘Spider’ Marks, Director of the Company’s U.S. subsidiary, stated: ‘Expanding the mineral resource at the Borralha Project is an essential next step in path to fulfilling the immense need in Portugal, the EU, NATO and the United States for tungsten powders, concentrates and other byproducts. The U.S. and NATO defense military complexes are dependent on tungsten. Without domestic supply of tungsten, the Borralha Project becomes a very important piece to the critical mineral supply chains for the United States and NATO.’

These latest drilling results are highly significant because they combine both scale and grade. The long intercepts at 0.21-0.33% WO₃ in Bo_RC_17/25 are particularly meaningful in wolframite systems. In addition, the drilling program is clearly growing the footprint of the Breccia complex. The Bo_RC_22/25 delineates a northern deep lode, while Bo_RC_15/25 ties the west-deep high-grade corridor back to the main body-both lines of evidence supporting a larger Santa Helena Breccia, the principal mineralized body at Borralha Project.

Table 1 – Drill Hole Collar Locations

Drill Hole ID Coordinates (WGS84) Az.(º) Dip.(º) PFD (m) DEPTH (m)
Bo_RC_14/25 585445 4611405 109 80 250 264.00
Bo_RC_15/25 585347 4611368 109 70 300 255.00
Bo_RC_16/25 585406 4611329 105 60 240 251.00
Bo_RC_17/25 585426 4611295 109 75 250 255.00
Bo_RC_18/25 585461 4611431 109 75 300 241.00
Bo_RC_19/25 585470 4611493 109 82 350 247.00
Bo_RC_21/25 585484 4611552 109 85 400 370.00
Bo_RC_22/25 585484 4611552 109 70 360 375.00
Bo_RC_26/25 585586 4611449 289 60 400 287.00

 

Table 2 – Drill Hole Interval Highlights

Drill Hole ID From (m) To (m) DH length (m) [1] True factor [1] True Width (m) [1] WO3 (%)
Bo_RC_14/25 52.0 64.0 12.0 tbd [2] [2] 4.27
incl. 52.0 58.0 6.0 tbd [2] [2] 8.39
Bo_RC_15/25 164.0 166.0 2.0 0.88 1.8 0.97
Bo_RC_17/25 52.0 152.0 100.0 0.90 89.9 0.21
incl. 92.0 124.0 32.0 0.90 28.8 0.33
incl. 106.0 120.0 14.0 0.90 12.6 0.52
incl. 110.0 116.0 6.0 0.90 5.4 0.74
Bo_RC_22/25 284.0 348.0 64.0 tbd [2] [2] 0.12
incl. 316.0 332.0 16.0 tbd [2] [2] 0.21

 

Notes: [1] Reported intervals are downhole lengths. Estimated true widths were calculated from hole orientation and the interpreted geometry of the mineralized corridors. Estimates may vary locally where geometry changes. Where intervals fall outside the resource block-model domains, true widths are not estimated and only downhole lengths are reported. [2] True widths are unknown.

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Figure 1 – Drill collar plan showing planned holes for the ongoing 5,728 m RC campaign at the Borralha Project. The red outline delineates the main mineralized breccia zone.

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Figure 2 – Geological Cross-Section for hole Bo_RC_17/25.

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Geologic Interpretation

The geologic interpretation indicates that the Santa Helena Breccia is expanding: the combination of broad medium-grade intervals and discrete high-grade intercepts points to a larger, better-connected breccia body than previously modeled. Priority vectors for follow-up include the west-dip high-grade trend (Bo_RC_14/25 and Bo_RC_15/25) and the northern wider deep lode (Bo_RC_22/25), which will guide near-term drilling and feed the Q4 2025 MRE and subsequent PEA workstreams.

Next steps

Ongoing drilling continues to target west-deep and northern extensions while tightening spacing across the MRE backbone. Additional assays from completed holes will be released as received and validated. The program remains aligned with the timeline toward an updated MRE (Q4 2025) and PEA thereafter.

Technical Information and Quality Assurance/Quality Control (QA/QC)

Drilling was completed using reverse-circulation (RC). All sample bags were pre-labelled with a unique internal sequence number used consistently for the assay sample and corresponding reject. Sampling was conducted on 2.0 m intervals for analytics. For each 2.0 m interval, two 1.0 m reject samples were also collected as representative splits. Splitting was performed at the rig via a rotary splitter integral to the RC cyclone.

Sampling followed pre-prepared sample lists that recorded downhole metreage, sequence, and the placement of Certified Reference Materials (CRMs) and field duplicates. CRMs were inserted at a rate of 1 in 20 samples (5%) and field duplicates at 1 in 20 samples (5%), arranged so that every 10th sample alternated between a CRM and a duplicate.

Analytical and reject samples were boxed at the drill site and transported by company personnel to the project core/logging facility. Analytical samples were stored on labelled pallets pending direct shipment to ALS’s preparation laboratory in Seville, Spain. Pulps and rejects were subsequently stored securely in the project logging room.

At ALS Seville, samples were crushed to 70% passing 2 mm, riffle-split to ~250 g, and pulverized using hardened steel to 85% passing 75 μm. Pulps were shipped to ALS Loughrea (Ireland) for analysis. The primary analytical method was ME-MS81 (lithium borate fusion with ICP-MS finish). Base metals were also reported using ME-4ACD81 (four-acid digestion with ICP-MS finish). Over-limit tungsten results were re-assayed using W-XRF15b (lithium borate fusion with XRF). Analytical results were delivered directly by ALS to the Company via secure electronic transfer.

To the best of the Company’s knowledge, no drilling, sampling, recovery, or other factors have been identified that would materially affect the accuracy or reliability of the data referenced herein.

Where reported, metal factor (m·%WO₃) is the product of interval length and grade and is provided as supplemental context only. Primary disclosure remains the reported grade and interval length (and true width where known).

Qualified Person

The scientific and technical information in this news release has been reviewed and approved by Mr. Vítor Arezes, BSc, MIMMM (QMR) (Membership Nº. 703197, Vice-President Exploration of Allied Critical Metals, who is a Qualified Person for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Arezes is not independent of Allied Critical Metals Inc. as he is an officer of the Company.

Understanding Tungsten

To understand tungsten, it is critical to understand the difference between wolframite tungsten mineralization and scheelite tungsten mineralization. Scheelite often reports higher grades (0.3%-1.0% WO₃) but is more costly and complex to process, requiring flotation methods with higher capital and operating expenditures and lower recoveries.i In contrast, wolframite, which is the focus of Allied, can be processed more efficiently using gravity and magnetic separation, resulting in lower costs and higher recoveries, making lower grades (~0.15%-0.25% WO₃) economically viable in wolframite deposits. For example, a wolframite deposit with 0.4% WO₃ over 3 metres can be more profitable than a scheelite deposit with 0.7% WO₃ over the same interval due to lower processing costs and higher recovery rates.ii

In Western exploration drilling, tungsten grades typically range from 0.3% to 1.0% WO₃.iii The cut-off grade for economic viability is generally around 0.1% WO₃, with highly efficient operations able to mine at grades as low as 0.08% WO₃. Skarn deposits, a common deposit type, typically range from 0.34% to 1.4% WO₃, with intercepts of 0.4% WO₃ over 1-5 metres considered very good and 0.7% WO₃ over 1-3 metres considered very high-grade.iv Intercept lengths can range from 0.6 metres to over 100 metres, with longer intercepts at strong grades generally preferred for economic mining.

Published exploration results in Western jurisdictions demonstrate the standards for wolframite, with reported intercepts such as ~9-15 m @ 0.6-0.8% WO₃, ~18 m @ 1.0% WO₃, and typical intervals of 1-5 m @ 0.25-0.5% WO₃. A result like 0.5% WO₃ over 3 metres is generally considered strong within Western tungsten exploration benchmarks, especially for wolframite tungsten mineralization.v

It is also important to recognize that China, Russia, and North Korea control approximately 87% of the world’s tungsten supply, using cheap labor and minimal environmental standards in authoritarian regimes. vi As a result, production costs and grades in these countries are not comparable to Western projects, which operate under higher labor, ESG, and energy cost structures. Evaluating projects outside these regions provides a realistic benchmark for what grades and intercepts are economically viable while supporting secure, NATO-aligned supply chains.

For Allied, this context is significant. Wolframite tungsten grades, ranging from 0.2% to 1.0% WO₃ are strong global wolframite benchmark values. The Company’s focus on wolframite ensures lower processing costs and higher recoveries, supporting project economics even at lower grades. Allied’s operations in secure jurisdictions align with Western critical mineral needs, avoiding geopolitical risks associated with China and Russia while positioning the Company to benefit from growing tungsten demand across defense, aerospace, and electrification sectors. Allied’s strong grades, low-cost processing advantages, and secure location position it as a strategic and responsible tungsten exploration company, well placed to support robust project economics in a rising-demand market. vii

*The results and intercepts referenced are drawn from publicly available disclosures of third-party mineral projects and are presented for industry benchmarking and comparison purposes only. Allied has no interests in those projects or entities.

ON BEHALF OF THE BOARD OF DIRECTORS,

‘Roy Bonnell’

Roy Bonnell, CEO and Director

For further information or investor relations inquiries, please contact:

Dave Burwell
Vice President, Corporate Development
Email: daveb@alliedcritical.com
Tel: 403-410-7907
Toll Free: 1-888-221-0915

ABOUT Allied Critical Metals

Allied Critical Metals Inc. (CSE: ACM,OTC:ACMIF) (OTCQB: ACMIF) (FSE: 0VJ0) is a Canadian-based mining company focused on the expansion and revitalization of its 100% owned past producing Borralha Tungsten Project and the Vila Verde Tungsten Project in northern Portugal with advantageous wolframite tungsten mineralization. Tungsten has been designated a critical metal by the United States and other western countries, as they are aggressively seeking friendly sources of this unique metal. Currently, China, Russia and North Korea represent approximately 86% of the total global supply and reserves. Tungsten is used in a variety of industries such as defense, automotive, manufacturing, electronics, and energy.

Please also visit our website at www.alliedcritical.com.

Also visit us at:

LinkedIn: https://www.linkedin.com/company/allied-critical-metals-inc
X: https://x.com/@alliedcritical/
Instagram: https://www.instagram.com/alliedcriticalmetals/

The Canadian Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information

This news release contains ‘forward-looking statements’, including with respect to the use of proceeds. Wherever possible, words such as ‘may’, ‘would’, ‘could’, ‘should’, ‘will’, ‘anticipate’, ‘believe’, ‘plan’, ‘expect’, ‘intend’, ‘estimate’, ‘potential for’ and similar expressions have been used to identify these forward-looking statements. These forward-looking statements reflect the current expectations of the Company’s management for future growth, results of operations, performance and business prospects and opportunities and involve significant known and unknown risks, uncertainties and assumptions, including, without limitation, those listed in the Company’s Listing Statement and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed under the Company’s profile at www.sedarplus.ca ). Examples of forward-looking statements in this news release include, but are not limited to, statements regarding the proposed timeline and use of proceeds for exploration and development of the Company’s mineral projects as described in the Company’s Listing Statement, news releases, and corporate presentations. Should one or more of these risks or uncertainties materialize or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements and reference should also be made to the Company’s Listing Statement dated April 23, 2025 and news release dated May 16, 2025, and the documents incorporated by reference therein, filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors. The Company disclaims any intention or obligation to revise forward-looking statements whether as a result of new information, future developments or otherwise, except as required by law.

i International Tungsten Industry Association (ITIA). (2023). Tungsten: Global industry, markets & outlook. Retrieved from https://www.itia.info

ii International Tungsten Industry Association (ITIA). (2023). Tungsten: Global industry, markets & outlook. Retrieved from https://www.itia.info

iii US Geological Survey (USGS). (2024). Mineral commodity summaries: Tungsten. Retrieved from https://pubs.usgs.gov/periodicals/mcs2024/mcs2024-tungsten.pdf

iv British Geological Survey (BGS). (2023). Tungsten fact sheet. Retrieved from https://www.bgs.ac.uk/downloads/start.cfm?id=1408

International Tungsten Industry Association (ITIA). (2023). Tungsten: Global industry, markets & outlook. Retrieved from https://www.itia.info

v Argus Media Group. (2025). Argus Tungsten Monthly Outlook. Issue 26-6, 11 June 2025. https://argusmedia.com

vi International Tungsten Industry Association (ITIA). (2023). Tungsten: Global industry, markets & outlook. Retrieved from https://www.itia.info

US Geological Survey (USGS). (2024). Mineral commodity summaries: Tungsten. Retrieved from https://pubs.usgs.gov/periodicals/mcs2024/mcs2024-tungsten.pdf

vii International Tungsten Industry Association (ITIA). (2023). Tungsten: Global industry, markets & outlook. Retrieved from https://www.itia.info

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NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

Kobo Resources Inc. (‘ Kobo ‘ or the ‘ Company ‘) ( TSX.V: KRI ) is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement of units (the ‘ Units ‘) for gross proceeds of $2,516,479.80 (the ‘ Offering ‘). Under the first tranche of the Offering, 8,388,266 Units were issued at a price of $0.30 per Unit.

Edward Gosselin, CEO and Director of Kobo, commented: ‘We are very pleased with the closing of the first tranche of our upsized financing following the market’s interest in recognizing the potential in developing our 100%-owned Kossou Gold Project. These funds allow us to push forward at a steady pace the ongoing drilling program initiated last week. And, we are glad that Luso Global Mining , one of our key shareholders, is a participant in the financing and has elected to maintain its 9.9% interest. We are excited to build on our strategic partnership with Luso Global Mining as we expand our presence in Cote D’Ivoire through the Kossou Gold Project and explore future opportunities.

3L Capital and Integrity Capital Group acted as financial advisors in connection with the Offering.

Each Unit consists of one common share of the Company (a ‘ Common Share ‘) and one-half of one common share purchase warrant (each whole common share purchase warrant, a ‘ Warrant ‘). Each Warrant entitles its holder to acquire one Common Share at a price of $0.55 per share until September 10, 2027.

The Company intends to use the net proceeds of the Offering to pursue its exploration initiatives initiated in H1-2025 and extend the known zones of mineralisation at its three main targets—the Road Cut Zone, Jagger Zone and Kadie Zone—on the Kossou Gold Project, initiate preliminary metallurgical work and further develop its ongoing soil geochemical and trenching survey at Kossou as well as to enhance the geological exploration program on the Kotobi research permit and for general corporate and working capital purposes.

The Units were issued pursuant to the ‘accredited investor’ exemption from the prospectus requirements in accordance with National Instrument 45-106 – Prospectus Exemptions . The securities issued under the first tranche of the Offering are subject to a statutory hold period until January 11, 2026 in accordance with applicable Canadian securities laws.

The Company compensated certain finders by paying cash commissions equal to an aggregate amount of $145,176 and by issuing 483,920 broker warrants (the ‘ Broker Warrants ‘). Each Broker Warrant is exercisable until September 10, 2027, at an exercise price $0.30 per share.

The Units and underlying Common Shares and Warrants have not been registered under the United States Securities Act of 1933, as amended (the ‘ U.S. Securities Act ‘), or any U.S. state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the ‘United States’ or ‘U.S. persons’ (as such terms are defined in Regulation S under the U.S. Securities Act) absent registration under the U.S. Securities Act and all applicable U.S. state securities laws or compliance with an exemption from such registration requirements. This press release is not an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction.

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

With over 18,500 metres of diamond drilling, nearly 5,900 metres of reverse circulation (RC) drilling, and 5,900 metres of trenching completed since 2023, Kobo has made significant progress in defining the scale and prospectivity of its Kossou’s Gold Project . Exploration has focused on multiple high-priority targets within a 9+ km strike length of highly prospective gold-in-soil geochemical anomalies, with drilling confirming extensive mineralisation at the Jagger, Road Cut, and Kadie Zones. The latest phase of drilling has further refined structural controls on gold mineralisation, setting the stage for the next phase of systematic exploration and resource development.

Beyond Kossou , the Company is advancing exploration at its Kotobi Permit and is actively expanding its land position in Côte d’Ivoire with prospective ground, aligning with its strategic vision for long-term growth in-country. Kobo remains committed to identifying and developing new opportunities to enhance its exploration portfolio within highly prospective gold regions of West Africa. Kobo offers investors the exciting combination of high-quality gold prospects led by an experienced leadership team with in-country experience.

Kobo’s common shares trade on the TSX Venture Exchange under the symbol ‘KRI’. For more information, please visit www.koboresources.com .

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

Cautionary Statement on Forward-looking Information:

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20250911576112/en/

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

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(TheNewswire)

Harvest Gold Corporation

Vancouver, British Columbia / September 11, 2025 ‑ TheNewswire – Harvest Gold Corporation (TSXV: HVG,OTC:HVGDF) (‘ Harvest Gold ‘ or the ‘ Company ‘) announces that, subject to the approval of the TSX Venture Exchange (the ‘ Exchange ‘), it has arranged a non-brokered private placement of up to 6,666,667 units of the Company (‘ Units ‘) at a price of $0.075 per Unit for aggregate gross proceeds of up to $500,000 (the ‘ Private Placement ‘).

Harvest Gold President and CEO, Rick Mark, states: ‘One of our investors in the recently completed Private Placement has asked if we would accept a larger investment with the same terms. The board of directors of the Company has approved the request as it will allow us to do prospecting, mapping and geo chemistry on areas in the southern part of Mosseau and on LaBelle with the goal of providing new drill targets this year. It also provides us flexibility should we wish to add meters to the current drill program at Mosseau.’

Each Unit will consist of one common share in the capital of the Company (each, a ‘ Share ‘) and one transferable common share purchase warrant (each, a ‘ Warrant ‘). Each Warrant will entitle the holder thereof to acquire one additional Share (each, a ‘ Warrant Share ‘) at a price of $0.12 per Warrant Share for a period of two years following the closing date of the Private Placement.

The Company anticipates using the proceeds from the Private Placement for exploration expenses on its properties in the Urban Barry area of Quebec, Canada, and general working capital.

All securities issued will be subject to a four-month hold period pursuant to securities laws in Canada and, where applicable.  Finders’ fees may be payable to qualified parties.

About Harvest Gold Corporation

Harvest Gold has three active gold projects focused in the Urban Barry area, totalling 329 claims covering 17,539.25 ha , located approximately 45-70 km east of the Gold Fields Windfall Deposit.

Harvest Gold acknowledges that the Mosseau Gold Project straddles the Eeyou Istchee-James Bay and Abitibi territories.  Harvest Gold is committed to developing positive and mutually beneficial relationships based on respect and transparency with local Indigenous communities.

ON BEHALF OF THE BOARD OF DIRECTORS

Rick Mark
President and CEO
Harvest Gold Corporation

For more information please contact:

Rick Mark or Jan Urata
@ 604.737.2303 or
info@harvestgoldcorp.com

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

Forward Looking Information

This news release includes certain statements that may be deemed ‘forward looking statements’. All statements in this news release, other than statements of historical facts, that address events or developments that Harvest Gold expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects’, ‘plans’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘projects’, ‘potential’ and similar expressions, or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’ or ‘should’ occur.

Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

The securities referred to in this news release have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the ‘U.S. Securities Act’), or any applicable securities laws of any state of the United States, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act) or persons in the United States unless registered under the U.S. Securities Act and any other applicable securities laws of the United States or an exemption from such registration requirements is available.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities within any jurisdiction, including the United States.  Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

NOT FOR DISTRIBUTION OR DISSEMINATION TO THE UNITED STATES

Copyright (c) 2025 TheNewswire – All rights reserved.

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Figure 1: Property Outline – Planned Soils and Deformation Corridors (CNW Group/Heritage Mining Ltd.)

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Heritage Mining Ltd. (CSE: HML) (FRA: Y66 ) (‘ Heritage ‘ or the ‘ Company ‘) is pleased to announce an exploration update on Zone 3 Extension Mega-Quartz Vein System at its Flagship Drayton-Black Lake Project (‘DBL’). Which has confirmed broad gold zone within a newly discovered ~74m wide quartz vein system (true width unknown) associated with a magnetic anomaly that extends for ~4km along strike length and is up to 200m in width (Figure 2) at its flagship Drayton Black Lake Project September 9, 2025 press release.

DBL Exploration Program Highlights:

  • Aggressive Soil/Till Orientation Survey (Figure 1) over Zone 3 Extension Area
  • Follow-up Soil/Till Survey – success based on Orientation Survey (Figure 1) expected Q4 2025
  • Outcrop/Vein stripping permit received above HML25-013 (Figure 2)
  • Initiate a structural Study of the Mega-Quartz Vein System (Figure 2)
  • Diamond Drilling Q4, 2025/Q1 2026 (Figure 3)

‘We are eager to further explore the newly discovered Zone 3 Extension Mega-Quartz Vein Structure systematically. Our team has developed a comprehensive approach to further exploring this area as well as broader exploration programs before winter. I would like to thank the exploration team for their strong efforts in the discovery of a such wide vein system.’ Commented Peter Schloo , President, CEO and Director of Heritage Mining Ltd.

Figure 2: Zone 3 Extension - Plan View – Permitted Stripping and Structural Evaluation Areas (CNW Group/Heritage Mining Ltd.)

Figure 3: Showing the completed and proposed holes testing the northeast-southwest trending magnetic lineament (CNW Group/Heritage Mining Ltd.)

Heritage Mining Ltd. logo (CNW Group/Heritage Mining Ltd.)

Discussion of Exploration Program

Soil/Till Program

The purpose of the soil and till program is to Rapidly evaluation the newly identified Zone 3 Extension – Mega Quartz Vein Structure as well as a broader evaluation of Alcona , Zone 10, Zone 3, and New Millennium with a terrain-aware B-horizon program. Bias sampling toward stable, well-drained eluvial–illuvial positions where podzolic Bf/Bh horizons preserve pathfinder chemistry. Soil/till program will be solidified following an orientation survey of key areas. The outcome of this program is to identify Pathfinders for each target defined and identify near surface mineralization footprint across target areas.

Stripping and Structural Evaluation

The Company has received a stripping permit for the area above HML25-013 along the newly identified Zone 3 Extension – Mega Quartz Vein Structure. Stripping this area with follow on sampling and structural evaluations are planned for the Company’s 2025 Exploration program at DBL. The result of this program is to further evaluate the structural discovery at surface to better prioritize further targeting methods.

Scout Diamond Drilling

Additional scout diamond drilling is planned for the 2025 exploration program at the newly identified Zone 3 Extension – Mega Quartz Vein Structure. Following the completion of Soil/Till Program and Stripping and Structural Evaluation the Company intends to commence scout drilling with additional data. The Company may initiate the scout drilling program earlier depending on additional internal evaluation.

Conclusion

The discovery of a broad gold zone in the the newly identified Zone 3 Extension – Mega Quartz Vein Structure warrants additional systemic exploration to further develop our discovery model.

Qualified Person

Stephen Hughes P. Geo , Strategic Advisor for the Company, serves as a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed the scientific and technical information in this news release, approving the disclosure herein.

Technical Program

Heritage Mining adheres to a strict QA/QC protocol for handling, sampling, sample transportation and analyses.  Chain-of-custody protocols are designed to ensure security of samples until their delivery at the laboratory.

Sampling, Sub-sampling, and Laboratory Analysis for Heritage Mining Drayton Black Lake Project All drilling at the Drayton Black Lake project recovers NQ core. Drill core is systematically split in half using a diamond saw. A qualified geologist examines the drill core, marking intervals for sampling and indicating the cutting line. Sample lengths are typically 1.0 metre, adjusted to a minimum length of 0.5 metre as necessary to respect lithological and/or mineralogical contacts and to isolate narrow veins or structures that may contain higher-grade mineralization.

Technicians saw the core along the cutting lines determined by the geologist. One half of the core is retained as a witness sample, while the other half is submitted for analysis. Individual sample bags are securely sealed and placed into sealed bags, which are then clearly marked with their contents.

Heritage Mining submits samples for gold determination by PhotonAssay to ALS Canada Ltd. (‘ ALS ‘). ALS operates under a commercial contract with Heritage Mining.

Drill core samples are shipped to ALS for sample preparation at their facilities in Thunderbay Ontario. ALS is an ISO/IEC 17025:2017 accredited laboratory for the PhotonAssay method in addition to a variety of diverse metal determination methods.

Analytical Procedures

The ALS procedure for PhotonAssay involves lab applying preparation codes LOG-21 (sample logging via barcode), CRU-31 (fine crushing so that 70% passes through a 2mm screen) and SPL-32a (rotary splitting of a representative ~500g subsample)  followed by analytical code Au-PA01 which is a non-destructive gold analysis method using high-energy X-rays with a gold detection range from 0.03 ppm to 350ppm.

After gold assays are returned, Heritage then may choose to perform multi-element assays on selected samples based on the gold results. In these cases, sample preparation codes FND-05 (locate and use remaining crushed material from Au-PA01) and PUL-32m (pulverization so that >85% passes 75 µm screen) are then applied followed by analytical code ME-MS61 (multi-element ICP-MS analysis for base metals, pathfinder elements, lithophile elements and rare earth elements).

________________________________________
Quality Assurance/Quality Control (QA/QC)

The drill program design, QA/QC, and interpretation of results are performed by qualified persons employing a rigorous QA/QC program consistent with industry best practices. Standards and blanks account for a minimum of 10% of the samples, in addition to the laboratories’ internal quality assurance programs.

Quality Control data are meticulously evaluated upon receipt from the laboratories for any failures. Appropriate corrective action is taken if assay results for standards and blanks fall outside allowed tolerances. All results disclosed by Heritage Mining have successfully passed the Company’s stringent quality control protocols.

The Company does not recognize any factors of drilling, sampling, or recovery that could materially affect the accuracy or reliability of the assay data disclosed. The assay data disclosed in this press release have been verified by the Company’s Qualified Person against the original assay certificates.

Heritage Mining notes that it has not completed any economic evaluations of its Drayton-Black Lake Project, and the project does not currently have any resources or reserves.

ABOUT HERITAGE MINING LTD.

The Company is a Canadian mineral exploration company advancing its two high grade gold-silver-copper projects in Northwestern Ontario . The Drayton Black Lake and the Contact Bay projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt. Both projects benefit from a wealth of historic data, excellent site access and logistical support from the local community.

FORWARD-LOOKING STATEMENTS

This news release contains certain statements that constitute forward looking information within the meaning of applicable securities laws. These statements relate to future events of the Company. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as ‘seek’, ‘anticipate’, ‘plan’, ‘continue’, ‘estimate’, ‘expect’, ‘forecast’, ‘may’, ‘will’, ‘project’, ‘predict’, ‘potential’, ‘targeting’, ‘intend’, ‘could’, ‘might’, ‘should’, ‘believe’, ‘outlook’ and similar expressions are not statements of historical fact and may be forward looking information. All statements, other than statements of historical fact, included herein are forward-looking statements.

Forward looking information involves 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 the forward-looking information. Such risks include, among others, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company’s estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents, risks related to geological uncertainties and variations; risks related to government and community support of the Company’s projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update any forward‐looking information except as required by law.

This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada , the United States , or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.

SOURCE Heritage Mining Ltd.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2025/11/c1327.html

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Mart Wolbert, analyst at Contrarian Codex, is seeing a uranium mindset shift as more investors take stock of the growing supply/demand imbalance in the market.

He explains how he’s approaching uranium stocks and shares his price outlook.

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

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Clem Chambers, CEO of aNewFN.com, shares his outlook for gold and silver.

He also shares his thoughts on the broader US economy.

‘We’re in an elevated inflationary situation, QE is coming, interest rates are coming down, the dollar’s going to fall hard and precious metals are going to go up,’ Chambers emphasized.

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

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Quetzal Copper Ltd. (TSXV: Q,OTC:QTZCF) (‘Quetzal’ or the ‘Company’) announces that it has refiled its interim financial statements and management’s discussion and analysis (‘MD&A’) for the three and six months ended June 30, 2025 (the ‘Q2 2025 Financial Statements’). The original filings were made on August 28, 2025.

The amendment was made to correct and clarify disclosure relating to the Company’s share-based compensation. The Q2 2025 financials originally filed on August 28, 2025 did not reflect the correct number of options and warrants outstanding, and the share-based compensation related to the January 15, 2025 option grant was not accounted for. In this refiling, the correct number of outstanding options and warrants and the share-based compensation related to the January 15, 2025 option grant have now been properly reflected and accounted.

The corrections do not impact the Company’s reported cash position, exploration expenditures. The adjustments relate solely to share-based compensation and the options and warrants continuity schedules.

The refiled Q2 2025 Financial Statements and MD&A are available under the Company’s profile on SEDAR+ at www.sedarplus.ca.

About Quetzal Copper

Quetzal is engaged in the acquisition, exploration, and development of mineral properties in British Columbia and Mexico. The Company’s principal project, Princeton Copper, is located adjacent to the Copper Mountain mine in southern British Columbia. The company currently has a portfolio of three properties located in British Columbia, Canada and one in Mexico.

Quetzal Copper Corp.
Matthew Badiali, CEO
Phone: (888) 227-6821

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/265986

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Hydrogen stocks are benefiting from cleantech sector momentum as the world moves closer to a green energy future.

The most abundant element on Earth, hydrogen is a colorless gas. It can be produced in liquid form and burned to generate electricity, or combined with oxygen atoms in fuel cells. In this way, hydrogen — which produces no carbon emissions — can replace fossil fuels in household heating, transportation and industrial processes such as steel manufacturing.

Rising demand for carbon-free energy sources alongside significant new government policies are driving growth in the hydrogen market.

It’s worth noting that the downside to hydrogen as a clean energy source is that 99 percent of the hydrogen fuel currently in production is derived from power generated by coal or gas.

To combat this problem, some companies are pursuing green hydrogen, which is produced by splitting hydrogen atoms from oxygen using electrolyzers powered by renewable energy. This segment is projected to see massive growth over the next two decades led by increased output from China.

According to an August 2025 Commodity Insights report from S&P Global, in 2050 China is forecasted to produce 33.4 million metric tons of zero-emission electrolytic hydrogen, while the European Union will produce 20 million metric tons, and the US, 4.7 million. The firm’s 2050 forecast for China tripled compared to last year’s report as the country rapidly raises its production capacity and signs offtake agreements with green hydrogen projects globally.

US hydrogen stocks

The US hydrogen market is well established, accounting for “more than half the world’s fuel cell vehicles, 25,000 fuel cell material handling vehicles, more than 8,000 small scale fuel systems in 40 states, and more than 550 MW of large-scale fuel cell power installed or planned,” according to the Fuel Cell and Hydrogen Energy Association.

The US was also the top exporter of hydrogen in 2023 with US$2.15 billion in exports based on data from the Observatory of Economic Complexity (OEC).

Looking at the medium to long term, the picture has become a little more opaque after the new Trump administration targeted some of the strong government incentives.

In July 2025, Congress cut the window for Section 45V hydrogen tax credits by five years, requiring green hydrogen projects to begin construction before 2028 to be eligible. The move comes alongside the Trump administration’s decision to delay hydrogen loans and cancel emissions-reduction grants.

These changes prompted Commodity Insights analysts to halve their forecast for 2050 US green hydrogen production to 4.7 million metric tons compared to their 2024 prediction of 9.3 million. The firm also reduced its 2030 forecast for US electrolyzer installations by 60 percent to 2.5 million gigawatts.

While green hydrogen faces setbacks, blue hydrogen remains supported by Section 45Q carbon capture credits and demand from Japan and South Korea.

1. Linde (NYSE:LIN)

Market cap: US$222.58 billion
Share price: US$474.69

Leading global industrial gases and engineering company Linde has been producing hydrogen for more than a century and is a pioneer in new hydrogen production technologies. Linde’s operations cover each step of the hydrogen value chain, from production and processing through distribution and storage. The company also uses its gases for industrial and consumer applications.

Globally, the company has more than 500 hydrogen production plants. Through its ITM Linde Electrolysis joint venture, Linde has become one of the world’s leading suppliers of green hydrogen produced using proton exchange membrane (PEM) electrolyzer technologies. This also makes it one of the few green hydrogen stocks.

In August 2024, Linde signed a US$2 billion long-term supply agreement to supply clean hydrogen to Dow (NYSE:DOW) subsidiary Dow Canada’s Path2Zero project in Fort Saskatchewan, Alberta.

In response to the regulatory uncertainties under the Trump Administration, Linde announced in its Q4 2024 earnings call that 90 percent of its US clean hydrogen projects will be focused on blue hydrogen, which is created by reforming natural gas with carbon capture storage. Blue hydrogen is more cost effective to produce, and although it is not zero emission like green hydrogen, it is more environmentally friendly than grey hydrogen produced with coal.

While Linde does not report separated data for its hydrogen segment, the company’s Q2 2025 results reported a 3 percent year-over-year uptick in overall sales to US$8.5 billion.

2. Air Products & Chemicals (NYSE:APD)

Market cap: US$64.83 billion
Share price: US$291.32

Founded in 1940, Air Products & Chemicals sells industrial gases and chemicals and provides related equipment and expertise to a wide range of industries, including the refining, chemical, metals, electronics, manufacturing, and food and beverage segments.

In addition to producing oxygen, nitrogen, argon and helium, the company operates more than 100 hydrogen plants and maintains the world’s largest hydrogen distribution network. Air Products has an extensive hydrogen-dispensing technology patent portfolio and has been involved in more than 250 hydrogen-fueling projects worldwide.

Air Products also has a joint venture project now under construction with ACWA Power (SR:2082) and NEOM Company in Saudi Arabia. Called the NEOM Green Hydrogen Complex, the operation will be powered by 4 gigawatts of renewable power from solar and wind to produce 600 metric tons per day of carbon-free hydrogen, which it says will be delivered in the form of green ammonia. Once production begins at the complex in 2026, Air Products will be the sole off-taker and plans to deliver the green ammonia to Europe’s transport sector.

Air Products’ Louisiana Clean Energy Complex, its largest US investment, is also making headway, with first production expected in 2028. The complex will produce blue hydrogen for power mobility and industrial markets in the Gulf Coast region and other markets.

In August 2025, Air Products completed the first fill of NASA’s new liquid hydrogen sphere, the largest of its kind in the world, delivering over 730,000 gallons of hydrogen. Standing 90 feet tall and 83 feet wide, the sphere will supply fuel for NASA’s Artemis missions, which aim to return humans to the Moon and establish a sustained lunar presence. The company has been working with NASA since 1957.

3. Cummins (NYSE:CMI)

Market cap: US$53.97 billion
Share price: US$391.69

Indianapolis-based Cummins designs, manufactures and distributes engines, filtration and power-generation products with a specialization in diesel and alternative fuel engines and generators.

In March 2023, the company announced the launch of a new brand, Accelera, which features “a diverse portfolio of zero-emissions solutions, includ(ing) battery systems, fuel cells, ePowertrain systems and electrolyzers.” The brand encompasses Cummins’ established battery electric and hydrogen fuel cell systems, as well as electrolyzers for hydrogen refueling stations. Shortly after, Accelera began production at its first US electrolyzer facility, located in the state of Minnesota.

The hydrogen fuel cell company showcased its next generation B6.7H hydrogen engine at the April 2024 Intermat Sustainable Construction Solutions and Technology Exhibition in Paris. The following month heralded the launch of Accelera’s next-gen hydrogen fuel cell technology for commercial vehicles, specifically the FCE300 and FCE150 fuel cell engines.

Accelera inked a deal in February 2025 to supply a 100 megawatt PEM electrolyzer system for BP’s (LSE:BP,NYSE:BP) Lingen green hydrogen project in Germany. The system is Accelera’s largest to date and uses its HyLYZER PEM electrolyzer technology.

In March 2025, Cummins joined academics, energy leaders and transportation experts as a founding member of the Hydrogen Engine Alliance of North America, which aims to advance hydrogen internal combustion engines (H2-ICE) alongside zero-emission technologies to support sectors where electrification isn’t possible yet. Cummins is preparing to launch its X15H hydrogen engine under its HELM platform.

Canadian hydrogen stocks

Like its neighbor to the south, Canada is a world leader in hydrogen and fuel cell technologies, especially when it comes to innovation, research and development. The country reportedly generates C$200 million in hydrogen technology exports according to data from January 2023. In terms of the global hydrogen market, the country exported $385 million worth of hydrogen in 2023, ranking ninth overall according to the OEC.

The federal government is heavily invested in the sector both in terms of funding and the implementation of clean energy policies. “The Hydrogen Strategy for Canada laid out a framework that focuses low-carbon hydrogen as a tool to achieve our goal of net-zero emissions by 2050, while creating jobs, growing our economy, expanding exports and protecting our environment,’ Natural Resources Canada states.

In British Columbia, the Government of Canada invested C$9.4 billion to launch a new Clean Hydrogen Hub that will use electrolyzer technology and hydroelectricity to generate hydrogen that can be sold to industry users.

On the global stage, Canada and its trading partner Germany have agreed to each commit C$300 million for a total of C$600 million to launch Atlantic Canada’s hydrogen export industry, which will send hydrogen to Germany. However, delays due to factors including high hydrogen prices and inflation as well as lack of infrastructure have pushed the expected start of exports back from 2025.

1. Ballard Power Systems (TSX:BLDP)

Market cap: C$775.49 million
Share price: C$2.64

Ballard Power Systems is a global leader in hydrogen fuel cell technology and is working to accelerate the adoption of this technology. The company develops and manufactures PEM fuel cell products that create electrical energy from the combination of hydrogen and air. Ballard’s products are designed for heavy-duty trucks, buses, trains and marine applications, as well as backup power storage.

Two of Ballard’s 200 kilowatt fuel cell modules are located on the world’s first hydrogen-powered ferry, operated by Norwegian company Norled. The company also supplied its FCmove-HD hydrogen fuel cell modules to global carbon-reduction company First Mode, now owned by Cummins, which used them to power retrofits for several hybrid hydrogen and battery ultra-class mining haul trucks.

In early 2024, Ballard struck a deal to supply 100 FCmove-HD+ modules to NFI Group, which the pair raised to 200 in November. The fuel cells will be used in the latter’s New Flyer next generation Xcelsior CHARGE FC hydrogen fuel cell buses, which will be deployed across the US and Canada. The company also announced in April of that year that it had secured its largest order ever — 1,000 hydrogen fuel cell engines to be supplied to European bus manufacturer Solaris between 2024 and 2027.

Ballard signed another multi-year supply agreement with an Egypt-based company named Manufacturing Commercial Vehicles, in which Ballard will supply 50 FCmove-HD+ fuel cell engines to support projects in the European Union with deliveries expected between 2025 and 2026.

In July 2025, the company initiated a restructuring strategy to reduce operating costs by 30 percent and achieve positive cash flow by the end of 2027. Ballard also penned a deal with eCap Marine to supply 6.4 MW fuel cells to be installed on two Samskip marine vessels.

During its Q2 2025 period, Ballard reported total revenue of US$17.8 million, up 11 percent year-on-year, while revenue from its heavy-duty mobility segment increased by 22 percent to US$16.1 million.

2. Tidewater Renewables (TSX:LCFS)

Market cap: C$126.35 million
Share price: C$3.55

Tidewater Renewables produces renewable diesel and hydrogen at its facilities located near Prince George in British Columbia, Canada. The plant has a nameplate capacity of 3,000 barrels per day of renewable diesel and 23.7 metric tons per day of hydrogen. It began production during Q4 2023 using feedstock that included soybean and canola oil.

Tidewater is now focused on expanding operations at the site to produce sustainable aviation fuel, targeting 2028 for first production.

For Q2 2025, Tidewater reported that its renewable diesel and renewable hydrogen (HDRD) complex operated at 72 percent capacity, down from 98 percent a year earlier, after a minor April 1 fire temporarily halted production. Operations resumed mid-April, with utilization improving steadily.

The company secured offtake contracts for more than 70 percent of its H2 2025 production in, planning to sell the remainder on the spot market.

3. Westport Fuel Systems (TSX:WPRT)

Market cap: C$66.28 million
Share price: C$3.80

Headquartered in Vancouver, British Columbia, Westport Fuel Systems supplies advanced alternative fuel delivery components and systems to the transportation industry worldwide. This includes its high pressure direct injection (HPDI) fuel system for commercial vehicles, which can run on biogas, liquified natural gas (LNG), hydrogen and other alternative fuel products.

The company has operations in partnership with leading global transportation brands across more than 70 countries across Europe, Asia, North America and South America.

One of those partners is Swedish automaker Volvo Group (STO:VOLV-B). Under the Cespira joint venture, the pair has commercialized Westport’s HPDI fuel system technology for long-haul and off-road applications. As of mid-2025, the company reported there were 9,000 trucks on the road using the platform fueled by LNG.

In March 2025, Westport announced a binding deal to sell its Italian light-duty business, Westport Fuel Systems Italia, to Netherlands-based Heliaca Investments for US$73.1 million, with potential earnouts of up to US$6.5 million. The deal closed in July.

With a leaner focus, Westport announced its plans going forward, including opening a Hydrogen Innovation Center and manufacturing facility in China in late 2025, aiming to tap into the country’s rapidly growing hydrogen market. The site will focus on research, development and collaboration to support local demand and advance clean transportation solutions.

The company will also move its European manufacturing operations to its existing technology center in Canada, uniting its manufacturing capacity with its North American innovation hub. It also plans to increase its focus on expanding Cespira’s market presence to North America.

Australian hydrogen stocks

Australia is another important hotspot for investing in hydrogen. The Australian Government says that ‘over AU$200 billion is currently in the investment pipeline for hydrogen and derivatives,’ accounting for 20 percent of announced renewable hydrogen projects worldwide.

The Australian government’s National Hydrogen Strategy, which it updated in 2023, highlights its intention to position the country as a “major player” in the global hydrogen market by 2030. To this end, Australia has partnered with a number of other nations on hydrogen technology.

Australia and Germany are working together on a hydrogen technology development program that will help Australia build out its capacity to export hydrogen to Germany as it seeks to reduce its reliance on fossil fuels. Through a partnership with Japan, Australia is developing new hydrogen fuel cell technology and looking to establish the world’s first clean liquefied hydrogen export pilot project, and its government has invested more than AU$500 million in the development of regional hydrogen hubs across the country.

In May 2024, the Australian government announced an AU$22.7 billion package to bolster the country’s domestic manufacturing and renewable energy sector, including AU$6.7 billion for renewable hydrogen production starting in mid-year 2028 through the 2039/2040 fiscal year.

1. Hazer Group (ASX:HZR)

Market cap: AU$91.62 million
Share price: AU$0.34

Technology development company Hazer Group is working to commercialize the HAZER Process, a low-emission hydrogen and graphite production process initially developed at the University of Western Australia. It uses iron ore as a process catalyst to convert natural gas and similar feedstocks into hydrogen for use as an industrial chemical and in fuel cells, as well as into high-quality synthetic graphite for use in lithium-ion batteries.

Hazer started operations at its commercial demonstration plant in early 2024 and it is now producing hydrogen and graphitic carbon.

In May 2024, the company inked an agreement with Canadian utility company FortisBC for the development of a hydrogen production facility in British Columbia that will use Hazer’s proprietary technology. The proposed commercial production facility will have a design capacity of up to 2,500 metric tons per year of clean hydrogen and approximately 9,500 metric tons per year of Hazer graphite.

The company announced in March 2025 that it had successfully completed its commercial reactor test program, validating a commercial scale-up reactor design. ‘The equipment was designed to mimic key aspects of the Hazer Process for producing hydrogen and graphite at commercial scale, and the completion of this testing is a major milestone for the government support from CleanBC,’ the press release states.

In June, Hazer entered a non-binding MOU with UK-based EnergyPathways to explore a hydrogen production facility within the Marram energy storage hub in Northwest England. The proposed plant would produce up to 20,000 metric tons of hydrogen annually, alongside ammonia and graphite using feedstock from Marram. Both parties plan to move toward a binding agreement following concept engineering studies.

In a July update, Hazer Group said its strategic alliance with Kellogg Brown and Root (NYSE:KBR) is advancing the global commercial rollout of the Hazer Process. Now in full execution, the partnership has deployed teams across Australia, the UK and the US.

2. Gold Hydrogen (ASX:GHY)

Market cap: AU$82.11 million
Share price: AU$0.45

Gold Hydrogen is a natural hydrogen exploration and development company with a focus on making new hydrogen and helium discoveries in South Australia using recorded government data with modern exploration techniques.

Through exploration at its wholly owned Ramsay project in 2024, Gold Hydrogen has demonstrated air-corrected hydrogen purity levels of up to 95.8 percent, as well as helium purity levels of 20 to 25 percent in groundwater and up to 36.9 percent at surface.

“To have an initial world first to see Hydrogen and Helium to surface is very exciting for our further ongoing exploration and drilling programs in even better locations,” Gold Hydrogen Managing Director Neil McDonald stated in an August 2024 interview.

Gold Hydrogen announced in February 2025 that it had received a AU$6.45 million research and development tax refund associated with its natural hydrogen and helium exploration activities for the fiscal year ended June 30, 2024. The refund will help fund the company’s 2025 work to delineate the hydrogen and helium accumulation at Ramsay with further drilling at its Ramsay-1 and Ramsay-2 wells.

In July, Gold Hydrogen received binding commitments for a AU$14.5 million strategic investment from Toyota Motor (NYSE:TM,TSE:7203), Mitsubishi Gas Chemical (TSE:4182) and ENEOS Xplora. The proceeds will support its Q4 drill program, and also be used towards advancing commercialization opportunities through the strategic collaboration.

3. Pure Hydrogen (ASX:PH2)

Market cap: AU$36.23 million
Share price: AU$0.09

Pure Hydrogen is focused on becoming a leading producer and supplier of hydrogen and hydrogen-fuel-cell-powered vehicles such as buses and waste collection vehicles. The company has several partnerships with companies for its technology. Pure Hydrogen’s hydrogen-fuel-cell-powered Prime Mover truck was displayed at the Brisbane Truck Show in 2023.

Pure Hydrogen has a 40 percent stake in the Turquoise Group, an Australian clean energy company, as well as exclusive long-term acquisition rights for the company’s future hydrogen production. Turquoise Group announced in May 2024 that it had produced the first graphene powder and hydrogen during testing at its commercial demonstration plant in Brisbane, Queensland.

In August 2024, Pure Hydrogen registered Australia’s first hydrogen-powered semi-truck, the Hydrogen Fuel Cell 110kW 6×4 Prime Mover.

Pure Hydrogen’s majority-owned subsidiary HDrive confirmed in January 2025 that it had sold two Taurus 70 metric ton hydrogen fuel cell prime movers to Australian logistics services provider TOLL Transport as part of a broader AU$2 million package. The vehicles are slated for delivery in the fourth quarter of the calendar year.

In April, Pure Hydrogen executed a commercial agreement with hydrogen technology provider Hydrexia, granting access to Hydrexia’s mobile hydrogen refueling stations and related service support through a phased delivery. Hydrexia specializes in hydrogen solutions for production, storage, transport and end-use applications.

As noted in the statement, the rollout marks the first stage of broader cooperation between the companies to support hydrogen development in Australia and internationally.

Pure Hydrogen signed a strategic distribution deal for the South American market with an Argentinian renewable energy company in July.

The company has also made multiple significant sales of its hydrogen fuel cell trucks in Q3, including its first North American sale of a hydrogen cell refuse truck as part of a term sheet with California-based Riverview International Trucks. In the Australian market, it sold two Prime Mover trucks to one company and a second concrete agitator truck to another, worth over AU$3 million combined.

Pure Hydrogen proposed a rebranding and company name change to Pure One in July, which shareholders will vote on at its annual general meeting later this year.

FAQS for hydrogen investing

Which is better: EVs or hydrogen?

According to research from TWI Global, there are pros and cons to both electric vehicles (EVs) and hydrogen vehicles. In terms of range and charging time, hydrogen beats electric hands down. However, while a hydrogen-powered vehicle doesn’t need much time to refuel compared to an EV, there is still much more EV charging infrastructure currently available compared to hydrogen fueling stations. EVs are also cheaper to purchase than hydrogen vehicles. As far as safety and emissions are concerned, it’s a draw between the two.

Why does Elon Musk not like hydrogen?

Elon Musk’s SpaceX has used hydrogen to fuel its rockets, and in 2023 Musk talked about hydrogen playing an important role in industrial applications, such as steelmaking. However, he has balked at the idea of hydrogen fueling vehicles, calling fuel cells “fool sells.” Speaking at a Financial Times conference in May 2022, Musk said, “It’s important to understand that if you want a means of energy storage, hydrogen is a bad choice.”

Starting in 2024, rumors began spreading that Tesla (NASDAQ:TSLA) was planning to launch a Tesla Model H powered by hydrogen, but they have been proven false.

Why is Toyota investing in hydrogen?

Toyota first invested in hydrogen fuel cell technology in 1992 as its executives saw clean energy as the future of transport. However, with EVs dominating the clean car space, the automaker began to shift its focus to compete with its peers. Toyota brought its newest hydrogen-powered vehicle to market in the fall of 2023 — a revamped Crown sedan that also has a hybrid-electric version. The following year, the auto maker introduced the first prototype of its Toyota Hilux trucks with a hydrogen fuel cell powertrain.

In 2025, Toyota shared its long-term strategy for developing hydrogen passenger vehicles as well as hydrogen technologies for long-haul freight.

Who is the leader in hydrogen energy?

Some countries leading in green and blue hydrogen production are the US, Germany and Canada. Many countries around the world have released clean hydrogen strategies, including the US, Canada and many countries in the Europe Union. However, clean hydrogen production is still in the early phases as countries develop infrastructure.

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

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