BPH Energy (BPH:AU) has announced BPH September Quarter Appendix 4C Cashflow
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Global commodities prices are on track to fall to their lowest level in six years by 2026, as weaker demand, a widening oil surplus and policy uncertainty continue to weigh on markets, according to the World Bank.
In 2025, the oil glut is projected to expand 65 percent above its last peak in 2020 as electric and hybrid vehicles reduce fuel consumption and oil demand flattens in China, as per the organization’s latest Commodity Markets Outlook.
The World Bank sees global energy prices falling sharply as a result.
Brent crude is forecast to slide from an average of US$68 per barrel in 2025 to US$60 in 2026, marking the lowest level in five years. Overall, energy prices are seen dropping by 12 percent this year and an additional 10 percent next year.
Despite the declines, commodities prices remain elevated compared to pre-pandemic levels. The World Bank estimates 2025 prices will still average 23 percent higher than in 2019, and 2026 levels about 14 percent above pre-COVID benchmarks, reflecting structural shifts such as climate impact, supply chain realignment and new industrial demand.
Food markets are also showing signs of easing. Global food prices are forecast to fall in 2025 and 2026, aided by improved harvests and lower shipping costs. However, fertilizer costs are expected to surge this year before easing in 2026, driven by high input prices and trade restrictions that could strain farm profitability and threaten crop yields.
Precious metals, by contrast, are defying the broader trend.
Gold and silver prices have reached record highs in 2025, primarily buoyed by central bank purchases, investor demand for safe-haven assets and ongoing macroeconomic uncertainty.
The gold price is expected to rise 42 percent this year and another 5 percent in 2026, nearly doubling its 2015 to 2019 average. Meanwhile, silver is projected to increase 34 percent this year and 8 percent next year.
While the downturn in energy prices, as well as lower prices for commodities like wheat and rice, is providing some relief to inflation-hit economies, the World Bank warns the decline may be temporary.
“Commodity markets are helping to stabilize the global economy,” said Indermit Gill, the World Bank Group’s chief economist and senior vice president for development economics, in a Wednesday (October 29) release. “Falling energy prices have contributed to the decline in global consumer-price inflation. But this respite will not last. Governments should use it to get their fiscal house in order, make economies business-ready, and accelerate trade and investment.”
The report also notes that the commodities outlook remains vulnerable to shifting global conditions. Prolonged trade disputes, sluggish economic growth or an unexpected surge in OPEC+ oil supply could drag prices further down. Conversely, heightened geopolitical tensions, new sanctions or severe climate disruptions could drive them back up.
Beyond short-term price dynamics, the report’s ‘special focus’ section for this year examines whether renewed global interest in managing supply and demand through commodities pacts could stabilize markets.
Drawing on a century of experience with international commodities agreements (ICAs), the World Bank found that most efforts like this ultimately failed. In the 20th century, producer and consumer nations attempted to stabilize prices through mechanisms involving inventory controls, trade quotas and price-setting schemes for commodities.
While some early efforts achieved temporary price stability, most collapsed due to weak coordination and changing demand patterns. Even the Organization of the Petroleum Exporting Countries (OPEC) — the longest-lasting such arrangement — has faced increasing challenges from new energy sources and shifting consumer behavior.
“OPEC’s longevity stands out among other ICAs,” the report states, noting that its survival has depended on its ability to adjust production quotas, expand alliances through OPEC+ and engage with consumer nations through dialogue.
Still, the World Bank cautions that OPEC faces growing headwinds from the global transition toward cleaner energy, which could usher in a period of stagnant or declining oil demand.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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Steve Barton, host of In It To Win It, weighs in on the pullback in gold and silver prices, sharing where the floors could be for both precious metals.
In his view, the correction is healthy and will lead to higher levels in the future.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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Surface Metals Inc. (CSE: SUR,OTC:SURMF) (OTCQB: SURMF) (the ‘Company’, or ‘Surface Metals’) is pleased to announce that it has retained the services of IDR Marketing, Inc. to provide public relations strategies, brand awareness, financial and digital marketing services to the Company.
The marketing awareness services provided by IDR will be aimed at maintaining and building the profile of Surface Metals through traditional press initiatives, advertising directives and social media strategies.
IDR is a leading marketing firm and ad agency located in Long Beach, California specializing in the marketing of small and microcap companies.
Under the terms of the agreement, as the financial marketing agency of record to the Company, IDR will be paid upwards of US one hundred eighty five thousand dollars in cash for its services for a six-month term. IDR Marketing, Inc., including its principals, does not own any of the Company’s securities.
About IDR
IDR Marketing Inc. is an independent ad agency providing full-scale integrated marketing and advertising services. Clients trust IDR for brand strategy and awareness, digital marketing, social media and advertising, newswire distribution, article marketing, financial journalism, public relations and more.
IDR specializes in direct response marketing, delivering results to clients through its multichannel approach. While the Agency primarily specializes in financial services, it provides results-oriented online and traditional offline campaigns across all sectors and industries. Visit https://idrmarketing.com to learn more.
About Surface Metals Inc.
Surface Metals Inc. (CSE: SUR,OTC:SURMF) (OTCQB: SURMF) is a North American mineral exploration company focused on advancing a diversified portfolio of gold and lithium projects in Nevada, USA, and Manitoba, Canada. The Company’s Cimarron Gold Project is located in Nye County, Nevada, in a historically productive gold district. It’s Clayton Valley Lithium Brine Project hosts an inferred resource of approximately 302,900 tonnes LCE adjacent to Albemarle’s Silver Peak Mine. Surface Metals also holds additional lithium assets in Fish Lake Valley, Nevada, and through a joint venture with Snow Lake Energy in southeastern Manitoba.
On behalf of the Board of Directors
Steve Hanson
Chief Executive Officer, President, and Director
Telephone: (604) 564-9045
info@surfacemetals.com
Neither the CSE nor its regulations service providers accept responsibility for the adequacy or accuracy of this news release. This news release contains certain statements which may constitute forward-looking information within the meaning of applicable securities laws (‘forward-looking statements’). Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/272510
News Provided by Newsfile via QuoteMedia
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Investor Insight
Apex Resources Inc. is a North American minerals explorer, advancing high-value critical mineral tungsten and lithium projects in Canada and the United States. With drilling underway at its Jersey-Emerald property in British Columbia and drill permitting in progress for its Lithium Creek brine project in Nevada, Apex offers investors exposure to multiple catalysts within the clean-energy and critical-minerals sectors.
Overview
Apex Resources Inc. (TSXV:APX,OTC:SLMLF) is a Vancouver-based mineral exploration company advancing a balanced portfolio of North American assets combining near-term tungsten-gold opportunities in British Columbia, Canada, with district-scale lithium potential in Nevada, USA.
The company’s flagship Lithium Creek project in Churchill County, Nevada, is a newly defined lithium-brine discovery opportunity. Recent geophysical and gravity surveys confirmed extensive low-resistivity zones and complex basin geometries – typical signatures of major lithium-bearing brine systems – yielding multiple shallow and deep drill targets. Located just 70 km east of Reno and 30 minutes from Tesla’s Gigafactory, Lithium Creek benefits from exceptional infrastructure within the US battery-manufacturing corridor.
While Lithium Creek remains Apex’s flagship, the company’s current exploration emphasis is in southeastern British Columbia in Canada, where it controls the historic Jersey-Emerald and Ore Hill mines. These holdings form a district-scale polymetallic system making Apex one of the most diversified explorers in Canada’s critical minerals space.
Drilling at the Jersey-Emerald project
The company’s near-term news flow will be driven by drilling at Jersey-Emerald through 2025 while it advances US permits for Lithium Creek.
Company Highlights
- Critical-minerals focus: Apex’s portfolio is anchored by lithium, tungsten and zinc, all designated as critical by Canada and the US.
- Precious-Metals (Gold&Silver) are important by-products at Jersey-Emerald
- Diversified exploration pipeline: Active drill program at Jersey-Emerald (tungsten-gold-zinc) while preparing to drill Lithium Creek in Nevada.
- Large-scale opportunity: Apex controls contiguous and nearby claim blocks around Salmo, BC, including Jersey-Emerald and Ore Hill, forming a multi-deposit critical- and precious-metal exploration district spanning more than 17,500 hectares with several historic mines, hosting Tungsten, Zinc, Lead, Silver, Gallium, Germanium, Indium, Bismuth, Tellurium and Molybdenum.
- Strong early results in USA: Lithium Creek brine samples up to 393 mg/L lithium, with geophysics outlining multiple deep-basin anomalies.
- Historic infrastructure advantage in Canada: More than $100 million in existing underground workings at Jersey-Emerald; year-round road, rail and power access to both BC projects.
- Tier-1 jurisdictions: Stable, mining-friendly locations in British Columbia and Nevada with clear permitting frameworks.
- Experienced leadership: Proven technical and capital-markets expertise led by CEO Ron Lang and a board made up of seasoned exploration and mining professionals.
Key Projects
Lithium Creek Project
The Lithium Creek project is a newly identified lithium-brine discovery opportunity in Nevada’s Fernley-Carson Sink basin complex. Covering over 8,200 acres, the project lies 70 km east of Reno and 30 minutes from the Tesla Gigafactory within the heart of America’s lithium-battery corridor.
Lithium Creek prospect area
Project Highlights
- District-scale scope: ~8,240 acres of claims across the Fernley and Carson Sinks, a structurally closed basin system with strong lithium-brine potential.
- High lithium values: Surface and shallow brine samples up to 393 mg/L lithium, far above regional cut-off grades.
- Strong geophysics: HSAMT and gravity surveys identified multiple low-resistivity zones and deep basin geometry indicative of large brine reservoirs.
- Green-energy focus: Designed for direct lithium extraction using local geothermal and solar power to minimize water use and carbon footprint.
- Permitting phase: Drill-target selection and US BLM permitting underway to enable Phase 1 drilling in 2026.
Jersey-Emerald Project
The Jersey-Emerald project is Apex’s primary Canadian project and a significant past-producing mine complex hosting tungsten, zinc, lead, gold and molybdenum. Located 10 km southeast of Salmo, BC, the project includes the former Emerald tungsten and Jersey lead-zinc mines, which were historically among Canada’s largest producers of these metals. Apex is now leveraging modern exploration and geophysics to expand critical-mineral zones and identify new targets across the 17,500-hectare property.
Jersey-Emeral mine site circa 1969
Project Highlights
- Proven past production: Over 1.6 million tons (Mt) of tungsten ore and 8 Mt of zinc-lead ore mined between 1942 and 1973.
- Established resource base: 2021 NI 43-101 estimate of 1.47 Mt indicated and 5.13 Mt inferred grading up to 0.25 percent tungsten trioxide (WO₃) and 0.03 percent molybdenum, with associated gold values.
- Active drilling: 2025 diamond-drill program (7 holes / 955 m) targeting critical metal expansion and high-grade gold zone (24.98 g/t gold over 10.2 m in historic hole E1411).
- Brownfield advantage: >$100 million of historic underground infrastructure and direct access via paved highways, powerlines and rail.
- Regional integration: Forms the core of Apex’s Salmo district portfolio with nearby Ore Hill and other contiguous claims providing district-scale potential.
Management Team
Ron Lang – CEO, President and Director
Ron Lang has a long history of working in the exploration and mining industry, following in the footsteps of his father, Frank A. Lang of Hemlo Gold Mine fame. He served as the president and CEO of Cream Minerals, overseeing exploration in Canada, Mexico and Africa. He also served as a board member to several junior exploration companies. Lang is skilled in negotiation, business planning, operations management, venture capital markets and business development.
Dennis Cojuco – CFO
Dennis Cojuco is a graduate of the University of British Columbia (BSc. Chemistry and Diploma in Accounting) and is a chartered accountant in British Columbia. Cojuco articled with PricewaterhouseCoopers and worked primarily in the firm’s mining practice where he assisted clients in public financings, mergers and acquisitions, public company reporting and various other areas. He has over 15 years experience in the mining industry working with junior and major mining companies (including Teck and NexGen Energy), and is currently the CFO and corporate secretary of Rokmaster Resources.
Adam Pankratz – Director
Adam Pankratz is a professor of Business Economics and Strategy at the University of British Columbia – Sauder School of Business, and a director of Rokmaster Resources. He brings diverse experience and expertise, including seven years in financial services management and leading a federal election campaign.
Brett Kagetsu – Director
Brett Kagetsu is a senior corporate finance and securities lawyer. With majority of his clients being Canadian-reporting issuers in the mining sector, he completed the Canadian Securities Course in 2000 and has served as an instructor for the TSXV’s Rules and Tools corporate governance workshop for over 15 years. Kagetsu holds a Bachelor of Commerce degree and a Bachelor of Laws degree from the University of British Columbia, and is a director of TSXV-listed Abasca Resources.
William Feyerabend – Senior Advisor
William Feyerabend is a certified professional geologist with extensive experience in generating, exploring and developing lithium brine projects in Nevada, California, Utah and Argentina. He has authored more than 45 technical reports for properties across six countries on four continents, including claim blocks in Nevada’s lithium development epicenter, the Clayton and Fish Lake Valleys. His expertise in lithium exploration began in 2015, with a specific focus on Esmeralda County, Nevada, especially Clayton Valley.
John Mirko – Special Advisor
John Mirko has more than 40 years experience in the mining industry, past President and Founder of Canam Alpine Ventures Ltd. (recently sold to Vizsla Resources (TSXV:VZLA), past President and Founder of Canam Mining and currently president of Rokmaster Resources Corporation. From 1986 to 2010 was the founder, president-CEO and Director of 4 public mining-exploration companies and a founder and Director of 3 others. Have been self employed in the sector since 1972 as a prospector, contractor and consultant involved in exploration, development and mine construction of various projects in 12 counties, and commercial production of mineral concentrates and metal products from 5 of the projects. In 2008 was a recipient of the ‘E. A. Scholtz Medal for Excellence in Mine Development’ from the Association for Mineral Exploration of British Columbia, and in 2009, the Mining Association of British Columbia’s ‘Mining and Sustainability Award’ for the MAX Mine. Currently a member in good standing of the Society of Economic Geologists, Inc., the Canadian Institute of Mining, Metallurgy and Petroleum, and the Prospectors and Developers Association of Canada.
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Locksley Resources (LKY:AU) has announced Kerrie Matthews Appointed Managing Director & CEO
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Nickel prices were volatile in the first half of 2025, but fell flat in Q3 amid ongoing oversupply concerns.
The market has also faced considerable uncertainty as the US adjusts its trade and spending policies, with headwinds coming from the end of the electric vehicle (EV) tax credit and a grinding tariff dispute with China.
These potential weak spots in market demand have come alongside an oversupplied market, and despite a 35 percent reduction in Indonesia’s output quota, supply and demand remain out of balance.
What happened to the nickel price in Q3?
As mentioned, nickel prices were volatile in H1, hitting a year-to-date high of US$16,720 per metric ton (MT) on March 12 before collapsing to a year-to-date low of US$14,150 on April 8.
By the start of the third quarter, prices had stabilized, reaching US$15,190 on July 1. Amid price fluctuations, nickel rose to a quarterly high of US$15,575 on July 23, then fell to a quarterly low of US$14,950 on July 31.
For the rest of the period, nickel prices were largely rangebound between US$15,000 and US$15,500, falling outside that range only once, when they dipped to US$14,950 on August 21.
Nickel price, April 1 to July 24, 2025.
Chart via London Metal Exchange.
Structural oversupply hindering nickel market
“The issue facing the nickel market is not weak demand; consumption is rising at a solid rate. The issue is rapid production growth, driven mostly by Indonesia. This has resulted in a structurally oversupplied market, which in turn is pressuring the London Metal Exchange (LME) nickel price,” he said.
Behind the stagnant price movements, the LME’s own data shows rising nickel stockpiles.
Across all warehouses, the LME hosted 164,028 MT of nickel at the start of the year; by the end of the first half, the amount had risen to 203,886 MT. The most recent data shows that the upward trend continued through the third quarter, with LME nickel stockpiles reaching 231,504 MT on September 30.
While demand is growing, it’s not enough to counter the flood of nickel entering the market. Furthermore, demand for nickel has been hindered by the end of the EV tax credit in the US on September 30, which has raised the cost of new vehicles for buyers and could impact the future uptake of new EVs in the US.
As S&P Global reported on October 15, this situation caused consumers to buy EVs before the deadline, resulting in a short-term spike in demand. However, the news outlet notes that US market stagnation may be offset by rising demand in domestic Chinese markets, which appeared to return to normal levels at the end of Q3.
While that may be good news for EVs, nickel won’t necessarily benefit as producers are shifting toward lithium-iron phosphate batteries. S&P Global notes that the change has caused nickel-manganese-cobalt batteries to lose 2 percentage points of market share year-on-year, accounting for 22 percent of the EV battery market.
However, the biggest issue weighing on nickel prices is supply, which Indonesia currently dominates. During Q3, the country experienced civil unrest stemming from a cost-of-living crisis. Even though the protests had no direct impact on nickel output, Masson suggested they could be an additional tailwind for Indonesia’s mining industry.
The country slashed nickel ore output earlier in the year to 200 million MT from 215 million MT in 2024. The move served to stabilize prices around the US$15,000 mark, but so far has done little else to improve the market.
As an additional measure to exert greater control over output levels and support prices, Indonesia reduced the duration of approved output quotas to one year. The policy change, which came into effect on October 3, requires producers who had been granted longer-term licenses to apply for 2026 quotas between October 1 and November 15, 2025.
In April, Indonesia implemented a new royalty scheme that adjusted royalty rates for nickel ore from a fixed 10 percent to 14 to 19 percent, the nickel matte rate from 2 percent to 3.5 to 5.5 percent, and the nickel pig iron rate from 5 percent to 5 to 7 percent. Nickel miners have pushed back on the changes, suggesting they would put greater financial strain on mining businesses, which are already struggling with high costs and low cash flows.
Nickel price forecast for 2025
The price of the base metal should see some tailwinds as seasonal output declines amid the rainy season in the Philippines, reducing the amount of nickel entering the market.
However, this is a temporary cut, with the season running from early October to the first quarter of 2026.
From Masson’s perspective, he doesn’t see a meaningful change in price before the end of the year, noting that more needs to be done on the supply side to move the needle.
“For the nickel price to improve, there needs to be greater supply discipline to rebalance the market. It is hard to see how this can occur without Indonesia. One way supply discipline could occur is via the country’s mine quotas, which the government now sets annually. Rising royalty payments could also squeeze older, higher-cost producers in the country,” he said. He predicts prices will remain rangebound around the US$15,000 level unless supply growth slows.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
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Avalanche Treasury (AVAT) represents a milestone in the maturation of blockchain-based digital assets as it transitions from speculative retail tools to mainstream institutional investment vehicles.
This newly launched investment vehicle, specifically designed to buy and hold Avalanche (AVAX) tokens, gives institutional investors a compliant way to gain exposure to Avalanche’s ecosystem growth. Its creation is emblematic of the broader financial ecosystem’s ongoing convergence with decentralized finance and blockchain innovation.
“This is a public company launching as an active, strategic partner within the Avalanche network, offering a level of integration and alignment that investors have been demanding,” he said.
Navigating institutional adoption with purpose
AVAT’s upcoming US$675 million SPAC merger with Mountain Lake Acquisition (NASDAQ:MLAC) positions it as a uniquely structured treasury dedicated to the Avalanche ecosystem.
With initial assets of nearly US$460 million and plans to acquire US$200 million more in AVAX tokens, the company aims to create a US$1 billion AVAX treasury. A Nasdaq listing is planned for early 2026.
This controlled, active treasury offers an alternative to passive index funds or exchange-traded funds, specifically designed for institutional clients seeking strategic participation in Avalanche’s blockchain network.
“The idea is to have a permanent capital vehicle. One of the benefits of not having to respond to creations and redemptions on a given day is that you can take a more strategic approach in what you’re doing,” said Smith.
AVAT’s differentiation lies in its regulated, transparent investment vehicle, developed under the oversight of seasoned professionals. Smith brings a wealth of experience, serving as a senior executive at Susquehanna International Group before leading AVAT, where he specialized in crypto trading and market-making across digital assets.
The advisory team also features prominent crypto pioneers such as Stani Kulechov of Aave and Jason Yanowitz of Blockworks, alongside experienced executives bringing operational and strategic expertise.
Such a combination of governance, knowledge and regulatory compliance helps mitigate the risks and opacity that have historically deterred institutional capital from crypto markets.
“I spent most of my career in what people now label traditional finance. I’ve worked in asset management and wealth management. I’ve worked on some of the largest trading desks in the world. So I think what I’ve learned over time is (that) surrounding yourself with smart people generally makes your job easier,’ Smith noted.
Ecosystem growth through strategic investment
Beyond simply holding AVAX, AVAT plans to actively support ecosystem expansion.
‘That could be owning a validator and running our own nodes, it could be running some volatility strategies using options or it could be investing equity into L1s and applications that are building on top of Avalanche.’
Through such treasury-backed infrastructure investments, Avalanche looks to deepen its network effects and catalyze sustainable adoption. This trend mirrors a larger institutional movement from companies like Strategy (NASDAQ:MSTR), which is developing a treasury strategy centered on Bitcoin accumulation, or BitMine Immersion Technologies (NYSEAMERICAN:BMNR) and firms such as Galaxy Digital (NASDAQ:GLXY), Jump Crypto and Multicoin Capital, which are introducing multibillion-dollar funds for Ether and Solana, respectively.
These treasury companies not only possess assets, but also make strategic investments to stimulate ecosystem expansion and institutional acceptance. This approach aligns with a broader industry trend of blockchain networks becoming foundational layers in the digitization of financial markets, supply chains and enterprise systems.
“I think the area that is undervalued in the success of Avalanche has been business and government adoption. Every week, there’s a story of major banks utilizing Avalanche infrastructure for their own business or stablecoin rails,’ said Smith. “You had the state of Wyoming issuing a state-issued stablecoin, the California DMV digitizing over 42 million car titles, corporate sponsors with Toyota Finance, FIFA, KKR, Apollo Global Management (NYSE:APO) and JP Morgan Chase & Co. (NYSE:JPM) using it in a variety of ways within their own financial service suite.”
While crypto asset markets remain volatile, AVAT adopts a diversified approach combining staking, liquidity provision and options strategies to balance yield generation with capital preservation.
“We want to create an all-weather portfolio that’s strategic in nature, and we’re thinking of an endowment or foundation approach, where we’re taking a multi-decade approach to some of our positions.”
A microcosm of broader institutional trends
AVAT exemplifies the evolving role of blockchain and crypto assets within the global financial system. Its journey from being a Layer 1 blockchain project to building a substantial treasury vehicle with public market access reflects a notable trend toward convergence between traditional finance and emerging decentralized technologies.
This theme resonates widely, as the financial industry witnesses the democratization and institutionalization of crypto through mechanisms like SPACs, regulated investment vehicles and hybrid governance models.
Meanwhile, the tokenization of real-world assets, corporate treasury adoption and blockchain integration into enterprise processes are collectively rewriting how value is stored, transferred and grows in modern markets.
By blending seasoned financial expertise with cutting-edge blockchain development, AVAT is carving a path for sustainable institutional investment in digital assets, demonstrating how blockchain innovation and traditional capital markets can mutually reinforce to support the next chapter of digital finance.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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Dr. Mark Thornton, senior fellow at the Mises Institute, discusses the factors that have taken the gold price to all-time highs. In his view, the key driver is government actions like overspending, borrowing and money printing, none of which are likely to abate soon.
He also shares his bullish outlook for silver.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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Copper Quest Exploration Inc. (CSE: CQX; OTCQB: IMIMF; FRA: 3MX) (‘ Copper Quest ‘ or the ‘ Company ‘) is pleased to announce that it has entered into a definitive agreement to acquire a 100% interest in the Kitimat Copper-Gold Project (the ‘Project’), located approximately 10 kilometers northwest of the deep-water port community of Kitimat, British Columbia.
PROJECT OVERVIEW
The Kitimat Copper-Gold Project covers approximately 2,954 hectares within the Skeena Mining Division of northwestern British Columbia. The Project is year-round road-accessible via a network of logging and mineral exploration roads extending north from Kitimat. The property benefits from exceptional infrastructure, being within 10 km of tidewater, 1.5 km of rail, and 6 km of high-voltage hydroelectric transmission lines.
Geologically, the Project is situated within the Stikine Terrane, a prolific belt that hosts numerous porphyry copper-gold systems and is underlain by Late Triassic volcanic rocks intruded by Jurassic diorite and granodiorite bodies of the Coast Plutonic Complex. The Project’s principal target areas is the Jeannette Cu-Au Zone displaying alteration and mineralization interpreted to represent low-level intermediate to low-sulfidation epithermal expressions of a larger Cu-Au porphyry system.
HISTORICAL EXPLORATION & HIGHLIGHTS
Exploration on the Kitimat property dates back to the late 1960s, with multiple operators conducting geochemical, geophysical, and drilling campaigns. The most significant historical work was conducted by Decade Resources Ltd. (2010), which completed 16 diamond drill holes totaling 4,437.5 meters in the Jeannette Cu-Au Zone. Notable results include:
- Hole J-7: 117.07 m grading 1.03 g/t Au, 0.54% Cu, from 1.52 m to 118.60 m.
- Hole J-1: 103.65 m grading 1.00 g/t Au, 0.55% Cu, from 9.15 m to 112.80 m.
- Hole J-2: 107.01 m grading 0.80 g/t Au, 0.45% Cu, from 6.10 m to 113.11 m.
- Hole J-8: 112.20 m grading 0.41 g/t Au, 0.33% Cu, from 11.89 m to 124.09 m.
The mineralized intervals encountered in the 2010 drilling demonstrate continuous near-surface copper-gold mineralization extending over significant widths, remain open at depth within the Jeannette Zone, and occur within a broader hydrothermal system that is interpreted to extend laterally beyond the area tested.
ACQUISITION DETAILS
Under the terms of the agreement Copper Quest has until January 5, 2026 to complete a due diligence review of the Project. Upon successful review, the Company will issue 2,000,000 common shares to the vendor, Bernie Kreft, on January 6, 2026, as full consideration for the acquisition. The Project is subject to a 2.5% net smelter return (NSR) royalty, of which 40% may be repurchased by the Company for CAD $1,000,000. Copper Quest will also retain a right of first refusal on any transaction involving the sale of the remaining royalty interest. Copper Quest has until
Mr. Kreft is a well-known Canadian prospector, entrepreneur, and former star of the Discovery Channel’s Yukon Gold television series. He has a long track record of successful mineral discoveries and project generation across British Columbia and Yukon.
A finder’s fee is payable in connection with the acquisition.
MANAGEMENT COMMENTS
Brian Thurston , CEO of CopperQuest, commented:
‘The addition of the Kitimat Copper-Gold Project demonstrates Copper Quest’s continued effort to add shareholder value through the acquisition of critical mineral projects. This project is ideally located with exceptional infrastructure, in a proven geological belt known for hosting major copper-gold systems. The strong historical drill results from the Jeannette zone speak to the potential of a larger near-surface mineralized system. We look forward to advancing this asset as part of our growing copper-gold portfolio.’
NEXT STEPS
- The Company plans to leverage artificial intelligence (AI) analysis to integrate all historical and modern exploration data to establish a comprehensive geological and geophysical model for the Kitimat Porphyry Project and improve targeting precision.
- Additional geological mapping, sampling, and geophysical surveys may be completed to refine priority drill targets as required. Field work could include ground magnetics, induced polarization (IP), and passive seismic to better define subsurface structure and mineralization trends.
- A follow-up drill program would test key targets within the interpreted geology and surrounding high-grade corridors.
QUALIFIED PERSON
Brian G. Thurston, P.Geo., the Company’s President and CEO and a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the technical information in this news release.
ABOUT COPPER
Despite surging demand, global copper supply remains constrained. Ore grades are declining at major mines, permitting timelines for new projects have lengthened, and geopolitical tensions are reshaping supply chains toward stable, transparent jurisdictions. Governments in Canada, the U.S., and allied nations have increasingly identified copper as a strategic and critical metal necessary for economic and national security. Within this context, Copper Quest’s acquisition of the Kitimat Copper-Gold Project in British Columbia positions the Company to advance a discovery-stage asset in one of the world’s safest and most infrastructure-rich mining jurisdictions — precisely when new, scalable copper sources are most needed.
ABOUT Copper Quest Exploration Inc.
Copper Quest (CSE: CQX; OTCQB: IMIMF; FRA: 3MX) is focused on building shareholder value through the acquisition, exploration and development of its North American Critical Mineral portfolio of assets. The Company’s land package currently comprises five projects that span over 40,000+ hectares in great mining jurisdictions.
Copper Quest has a 100% interest in the Stars Property, a porphyry copper-molybdenum discovery, covering 9,693 hectares in central British Columbia’s Bulkley Porphyry Belt. Contiguous to the Stars Property, Copper Quest has a 100% interest in the 5,389-hectare Stellar Property. CQX also has an earn-in option up to 80% and joint-venture agreement on the 4,700-hectare porphyry copper-molybdenum Rip Project, also in the Bulkley Porphyry Belt.
Copper Quest has a 100% interest in the Nekash Copper-Gold Project, a porphyry exploration opportunity located in Lemhi County, Idaho, along the prolific Idaho-Montana porphyry copper belt that hosts world-class systems such as Butte and CUMO. The project is fully road-accessible via maintained U.S. highways and forest service roads and currently consists of 70 unpatented federal lode claims covering 585 hectares.
Copper Quest has a 100% interest in the Thane Project located in the Quesnel Terrane of Northern BC which spans over 20,658 ha with 10 high-priority targets identified demonstrating significant copper and precious metal mineralization potential.
Copper Quest’s leadership and advisory teams are senior mining industry executives who have a wealth of technical and capital markets experience and a strong track record of discovering, financing, developing, and operating mining projects on a global scale. Copper Quest is committed to sustainable and responsible business activities in line with industry best practices, supportive of all stakeholders, including the local communities in which it operates. The Company’s common shares are principally listed on the Canadian Stock Exchange under the symbol ‘CQX’. For more information on Copper Quest, please visit the Company’s website at www.copper.quest .
On behalf of the Board of Copper Quest Exploration Inc.
Brian Thurston, P.Geo.
Chief Executive Officer and Director
Tel: 778-949-1829
For further information contact:
Investor Relations
info@copper.quest
Forward Looking Information
This news release contains certain ‘forward-looking information’ and ‘forward-looking statements’ (collectively, ‘ forward-looking statements ‘) within the meaning of applicable securities legislation. All statements, other than statements of historical fact included herein, including without limitation, future operations and activities of Copper Quest, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as ‘expects’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘potential’, ‘possible’, and similar expressions, or statements that events, conditions, or results ‘will’, ‘may’, ‘could’, or ‘should’ occur or be achieved. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, risks associated with possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of exploration results, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company’s exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company’s business and prospects. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. The Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.
The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this press release, and does not accept responsibility for the adequacy or accuracy of this release.
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