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Trump asks SCOTUS to uphold freeze on billions in USAID payments

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Lawyers for the Trump administration filed an emergency appeal to the Supreme Court on Tuesday night asking the justices to halt a lower court injunction and allow it to freeze billions in foreign aid spending previously allocated by Congress — kicking the issue of USAID funding back to the high court for the second time in roughly six months.

At issue is nearly $12 billion in funding allocated to the U.S. Agency for International Development (USAID), and owed by the end of the fiscal year in September. The majority of those funds were axed by President Donald Trump almost immediately after taking office, under the broader mantle of slashing foreign aid and eliminating so-called ‘waste, fraud, and abuse.’  

U.S. Solicitor General D. John Sauer told the Supreme Court in an emergency filing Tuesday that, absent intervention from the high court, the Trump administration would be forced to ‘rapidly obligate some $12 billion in foreign-aid funds’ owed by September 30, or the end of the fiscal year.

Those payments have been held up in court for months, after President Donald Trump signed an executive order on his first day back in office in January seeking to block nearly all foreign aid spending, as part of his administration’s broader crackdown on waste, fraud, and abuse.

That order was blocked by a federal judge in D.C. earlier this year. That judge, U.S. District Judge Amir Ali, ordered the Trump administration to resume payments on billions of dollars in funding for USAID projects that were previously approved by Congress. 

That order was overturned this month by the U.S. District Court of Appeals for the D.C. Circuit, which ruled 2-1 to vacate the lower court injunction.

The appeals court partly vacated Judge Ali’s injunction, rejecting a request from foreign aid groups that had sought to restore the grant payments. The 2-1 majority also ruled that the plaintiffs failed to show Trump had acted ‘plainly’ in excess of his executive branch authorities.

Writing for the majority, Judge Karen L. Henderson, a President George H.W. Bush appointee, said that the plaintiffs lacked the proper cause of action to sue the Trump administration over its decision to withhold the funds, or what is known as impoundment.

But the appeals court has not yet issued a mandate to enforce that ruling — meaning that, for now, the judge’s order, and the payment schedule he previously laid out — remains in place.

Sauer argued in the emergency Supreme Court appeal that the foreign aid groups, which sued the Trump administration this year in order to claw back some of the grant money, have no legal authority to challenge the executive branch on the matter, which is technically under the legal jurisdiction of the Impoundment Control Act.

‘Congress did not upset the delicate interbranch balance by allowing for unlimited, unconstrained private suits,’ Sauer wrote. ‘Any lingering dispute about the proper disposition of funds that the President seeks to rescind shortly before they expire should be left to the political branches, not effectively prejudged by the district court.’

Plaintiffs, for their part, have argued that the executive branch lacks the authority to unilaterally withhold already-appropriated funds, under the Impoundment Control Act (ICA), as well as the Administrative Procedure Act.

The Supreme Court previously ruled 5-4. 

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Ucore Strikes Rare Earth Offtake Deal With Critical Metals

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Ucore Rare Metals (TSXV:UCU,OTCQX:UURAF)has moved to shore up future supplies of heavy rare earths through a preliminary offtake deal with Critical Metals (NASDAQ:CRML).

The Halifax-based company announced Tuesday (August 26) it had signed a non-binding letter of intent with Critical Metals, which plans to develop the Tanbreez rare earth project in southern Greenland.

Under the proposed 10-year arrangement, Critical Metals would deliver a rare earth carbonate or oxide product to Ucore, starting in 2027 or upon commercial production, whichever comes later.

The feedstock is slated for processing at Ucore’s Strategic Metals Complex in Louisiana, a facility backed by both the Pentagon and the state of Louisiana. Smaller volumes will be processed first at Ucore’s demonstration plant in Kingston.

“Critical Metals Corp’s Tanbreez offers tremendous opportunities for Ucore given the significant concentration of heavy rare earths it contains, which are essential for the production of rare earth permanent magnets,” Ucore chief executive Pat Ryan said in a statement.

“Both Critical Metals Corp and Ucore share a vision to lessen China’s grip of the rare earth ecosystem in the West, and we look forward to our partnership.”

Critical Metals’ executive chairman Tony Sage also said the collaboration would help fill gaps in Western supply chains for strategic minerals.

“These materials are critical to a number of western defense and consumer applications and we look forward to teaming up with Ucore and their exceptional team to support the development of a robust supply chain in America that isn’t reliant on China,” he said.

Rare earth elements, particularly the heavy segment such as terbium and dysprosium, are crucial for high-performance magnets used in fighter jets, missiles, radar, electric vehicles and renewable energy systems.

China currently controls the vast majority of mining and separation capacity, leaving Western nations exposed to potential export restrictions and supply chain disruptions.

Incidentally, the offtake announcement comes weeks after Ucore recieved a US$18.4-million Phase 2 award from the US Department of Defense to scale up its Louisiana refining complex.

The project builds on an earlier US$4-million Phase 1 program where the company successfully demonstrated the separation of terbium and dysprosium at its Ontario pilot facility.

In addition, the Pentagon funding supports the installation of the company’s proprietary RapidSX separation technology at commercial scale. Ucore said the award will culminate with the construction of a first commercial RapidSX machine at the Louisiana site.

Pentagon officials have repeatedly warned that China’s dominance in the sector poses a strategic vulnerability, and have stepped up efforts to seed alternative supply chains in North America.

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

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AuKing Mining

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Investor Insight

AuKing Mining is advancing the Cloncurry Gold Project in Queensland, with near-term production potential supported by a large land package with multiple drill targets already defined and its right to acquire 50 percent of Orion Resources through a AU$5 million earn-in. Backed by diversified copper, uranium, and critical metals assets, plus strategic partnerships, the company is positioning itself as a growth-focused, emerging mid-tier producer.

Overview

AuKing Mining (ASX:AKN) is an exploration and development company with a portfolio of assets focused primarily on gold, but also uranium, copper, and critical minerals, across Australia, Tanzania, and Canada. The company aims to become a mid-tier producer through the acquisition and development of near-term production assets.

In February 2025, AuKing Mining entered into a strategic agreement with Gage Resources, an Australian subsidiary of Beijing-based Gage Capital Management. The agreement includes a $300,000 investment by Gage, resulting in a 10 percent stake in AuKing, and the sale of two non-core prospecting licenses in Tanzania to Gage for an additional $300,000. This partnership is expected to enhance AuKing’s financial position and support its ongoing exploration and development activities.

u200bAerial Image of Mt Freda Open Pit

Aerial Image of Mt Freda Open Pit & Exploration Land Package

AuKing Mining further reported a major step forward for the Cloncurry Gold Project, with its partner Orion Resources signing a non-binding term sheet for US$5 million in project financing from a long-established North American lender. The facility, if completed, will support the acquisition of Cloncurry assets, feasibility and development work at the Tick Hill JV, mining at Mt Freda, and processing at the Lorena plant. This is a key milestone as it retains the right to acquire 50 percent of Orion by investing AU$5 million before June 2027, positioning the company to benefit directly from the restart of gold production and the advancement of multiple near-term development opportunities.

Company Highlights

  • AuKing Mining is an exploration and development company with its primary focus being the Cloncurry Gold Project in north Queensland.
  • The company also holds a diverse portfolio of exploration assets in Western Australia (Koongie Park), Tanzania (Mkuju), Canada (Myoff Creek in British Columbia and Grand Codroy in Newfoundland).
  • Strategic Acquisitions and Partnerships:
    • Entered an earn-in agreement to acquire a 50 percent interest in the Cloncurry Gold project.
    • Entered a joint venture in February 2025 with ASX-listed Cobalt Blue Holdings (CBH) whereby CBH can earn up to a 75 percent interest in the Koongie Park project in Western Australia.
    • Formed a strategic partnership with a large Beijing-based resources fund, Gage Capital, in February 2025.
  • AuKing is led by a highly experienced management team executing the company’s strategies to increase shareholder value.

Key Projects

Cloncurry Gold Project (Queensland, Australia)

In November 2024, AuKing Mining entered into an earn-in agreement with Orion Resources for the Cloncurry gold project in northern Queensland. This agreement allows AuKing to increase its stake in the project to 50 percent by investing AU$5 million in project funding by June 2027.

AuKing Minings

Orion’s Cloncurry Project interests, including the Mt Freda/Golden Mill mining leases. [Note the nearby Wynberg and Wallace/Wallace South gold projects are not assets being acquired by Orion]

A key component of this project is the Tick Hill Gold Joint Venture, involving AuKing, Orion Resources, and Tick Hill Mining, the current owner of the Tick Hill gold mine. The JV aims to establish a processing operation at Tick Hill, focusing initially on reprocessing the existing tailings stockpiles. A pre-feasibility study completed in 2020 outlined a processing capacity of 474,200 tonnes at 2 g/t gold over 13 months, yielding approximately 27,300 ounces of gold at an all-in sustaining cost (AISC) of AU$1,493 per ounce.

In March 2025, the JV partners signed a memorandum of understanding (MoU) to assess the viability of processing Tick Hill’s tailings and other ore materials at the Lorena processing plant, located 15 km east of Cloncurry. This initiative aims to expedite the re-commencement of gold production in the region.

The JV also plans to evaluate the feasibility of reopening the historical open pit mine at Tick Hill, with the goal of extending the project’s life and enhancing gold production. An independent preliminary economic assessment has concluded that the proposed tailings retreatment plan is both technically and financially viable, recommending progression to a final feasibility study.

Through these strategic initiatives, AuKing Mining is actively advancing the Cloncurry gold project, aiming to unlock significant value and establish a sustainable gold production operation in the Cloncurry region.

u200bThe Mt Freda Complex

The Mt Freda Complex, covering an area of no more than 6 sq kms, looking from north-west to the south-east, 30 kms south of the Lorena plant.

The Mt Freda Mining Complex is a key element in the proposed restart of mining operations at the Cloncurry Gold Project in northern Queensland. A comprehensive drilling program, consisting of an estimated 10,000 meters of combined diamond and reverse circulation (RC) drilling, is planned at Mt Freda to support the project’s development.

Myoff Creek

u200bMyoff Creek

The Myoff Creek project, located in southeastern British Columbia, is a 100 percent-owned niobium and REE exploration asset held by AuKing Mining. It covers approximately 800 hectares across eight mineral claims. Historical work identified significant near-surface carbonatite mineralization spanning about 1.4 km by 0.4 km, with impressive intercepts of 0.93 percent niobium (Nb) and 2.06 percent total rare earth oxides (TREO). The zone remains open both at depth and laterally, and elevated niobium and cerium have been detected in rock chips nearly 2 km from the known mineralization, hinting at substantial upside. Positioned within a well-known mining region and easily accessible via established roads, the project is now primed for modern exploration, starting with a helicopter-borne aeromagnetic and radiometric survey to pinpoint new targets for drilling.

Project Highlights

  • Full Ownership: AuKing holds a 100 percent stake in the Myoff Creek project—covering ~800 hectares across eight contiguous claims.
  • Strong Historical Mineralization: Near-surface carbonatite zone (~1.4 km × 0.4 km) with high-grade intercepts: 0.93 percent Nb and 2.06 percent TREO.
  • Open Mineralization: Zones remain open at depth and along strike; rock chips ~2 km from drilled area show elevated Nb and Ce.
  • Strategic Location: Situated in a mining-friendly region, close to major operations like Highland Valley and Copper Mountain Mines
  • Good Access: The site benefits from well-maintained infrastructure and road networks
  • High Potential Upside: Thick, low-impurity carbonatites (up to 200 m thick) in a critical mineral belt provide a compelling foundation for resource expansion

Halls Creek Project (Koongie Park Copper-Zinc Project – Western Australia)

Auking Minings

The Halls Creek project, also known as the Koongie Park Project, is located 25 km southwest of Halls Creek in Western Australia’s highly mineralized Halls Creek Mobile Belt. It hosts three significant deposits—Onedin, Sandiego, and Emull—with established resources in copper, zinc, gold, silver, and lead. Backed by a 2025 earn-in agreement with Cobalt Blue (ASX:COB), which can acquire up to 75 percent of the project, Halls Creek offers strong development economics, value-engineering upside, and exploration growth potential in one of Australia’s most prospective mining regions.

Project Highlights

  • Strategic location in WA’s Halls Creek Mobile Belt, near Savannah, Copernicus and Nicolsons operations.
  • Key Deposits:
    • Onedin – 4.8 Mt Cu-Zn-Au-Ag-Pb resource; silver credits identified as potential economic enhancer.
    • Sandiego – 4.1 Mt Cu-Zn-Au-Ag-Pb resource; scoping study (2023) shows 11-year mine life, 750 ktpa throughput, $135 million capex, $177 million pre-tax NPV, and 40 percent IRR.
    • Emull – 12.2 Mt Cu-Zn-Pb-Ag maiden resource with significant expansion potential.
  • Exploration Growth: New targets such as Sandiego North show strong copper anomalies and early drill success, offering resource growth potential.
  • Earn-in Partnership: Agreement with Cobalt Blue allows it to earn up to 75 percent interest, bringing technical and financial capability to fast-track development.

Mkuju Uranium Project (Tanzania)

Mkuju is situated immediately to the southeast of the world class Nyota uranium project that was the primary focus of exploration and development feasibility studies by then ASX-listed Mantra Resources (ASX:MRU). Not long after completion of feasibility studies for Nyota in early 2011, MRU announced a AU$1.16 billion takeover offer from the Russian group ARMZ. The takeover was finalised in mid-2011.

During the latter part of 2023, AuKing Mining completed a Stage 1 exploration program at Mkuju which comprised a combination of rock chip, soil geochemistry sampling, shallow auger drilling and initial diamond drilling. Some very encouraging results were obtained from this program which have formed the basis for a 11,000 m drilling program.

Management Team

Peter Tighe – Non-executive Chairman

Peter Tighe started his career in the family-owned JH Leavy & Co business, which is one of the longest established fruit and vegetable wholesaling businesses in the Brisbane Markets at Rocklea. As the owner and managing director of JH Leavy & Co, Tighe expanded the company along with highly respected farms and packhouses that have been pleased to supply the company with top quality fruit and vegetables for wholesale/export for over 40 years. Tighe has been a director of Brisbane Markets Limited (BML) since 1999 and is currently the deputy chairman. BML is the owner of the Brisbane Markets site and is responsible for the ongoing management and development of its $400 million asset portfolio. As the proprietor of the site, BML has over 250 leases in place including selling floors, industrial warehousing, retail stores and commercial offices. BML acknowledges its role as an economic hub of Queensland, facilitating the trade of $1.5 billion worth of fresh produce annually, and supporting local and regional businesses of the horticulture industry.

Paul Williams – Managing Director

Paul Williams holds both Bachelor of Arts and Law Degrees from the University of Queensland and practised as a corporate and commercial lawyer with Brisbane legal firm HopgoodGanim Lawyers for 17 years. He ultimately became an equity partner of HopgoodGanim Lawyers before joining Eastern Corporation as their chief executive officer in August 2004. In mid-2006, Williams joined Mitsui Coal Holdings as general counsel, participating in the supervision of the coal mining interests and business development activities within the multinational Mitsui & Co group. Williams is well-known in the Brisbane investment community as well as in Sydney and Melbourne and brings to the AKN board a broad range of commercial and legal expertise – especially in the context of mining and exploration activities. He also has a strong focus on corporate governance and the importance of clear and open communication of corporate activity to the investment markets.

Mark Fisher – Non-executive Director

Mark Fisher is a seasoned resources executive with more than 35 years of global experience in the mining industry. His expertise spans strategic business planning, feasibility, project management, mine engineering, and operational leadership. Fisher has a proven record of delivering profitable and sustainable outcomes that enhance shareholder value, even in complex operating environments. He held senior leadership roles with Placer Dome and Barrick Gold Corporation, including president of Barrick’s Global Copper division. In that role, he led the development strategy for a portfolio of major copper assets across South America, Africa, the Middle East, and Asia.

Dr Kylie Prendergast – Non-executive Director

Dr Kylie Prendergast is a geologist and technical leader with over 25 years’ international experience in exploration, project evaluation, and commercial management across multiple jurisdictions. She is currently a non-executive director of Helix Resources and has held senior leadership roles including managing director of Felix Gold and Mining Associates, GM exploration and business development at Mawarid Mining (Oman), and senior positions with Batu Mining (Mongolia), Gold Fields, BHP Billiton, Ivanhoe Mines, and North Limited. She brings a strong track record of advancing exploration assets and creating value through both technical expertise and strategic leadership.

Nick Harding – Non-Executive Director

Nick Harding is an FCPA with over 35 years’ experience in finance, corporate governance, and company administration across the resources and agribusiness sectors. For the past 16 years, he has acted as executive director, CFO, and company secretary for multiple ASX-listed junior explorers, guiding several from early-stage exploration through to development and production. Earlier in his career, Nick held senior finance roles with WMC Resources, Normandy Mining/Newmont Australia, and Beach Energy, gaining broad exposure across gold, copper, nickel, uranium, industrial minerals, and oil and gas.

Lincoln Ho – Non-executive Director

Lincoln Ho brings over eight years of ASX-listed directorship experience, with a strong background in corporate strategy, mining exploration, and administration across both Australian and international jurisdictions. He has played a key role in guiding companies through transactions in local and overseas markets, working closely with corporate financiers in the emerging companies space. He is currently a non-executive director of Askari Metals and has previously served on the boards of Aldoro Resources, Redcastle Resources, and Red Mountain Mining.

Chris Bittar – Exploration Manager

Chris Bittar is an experienced geologist with a strong background in advancing projects from greenfield exploration through to mine-ready feasibility studies. He most recently served as senior project geologist at Pantoro Limited’s Norseman Project, overseeing near-mine exploration and resource development programs as part of the Definitive Feasibility Study. Prior to that, he held senior geology roles with Millennium Minerals (Nullagine Gold Project) and Pilbara Minerals (Pilgangoora Lithium Project), as well as exploration roles with Sumitomo Metal Mining Oceania and Northern Minerals (Browns Range rare earths project). His expertise includes managing drilling campaigns, geological interpretation, data management, and project reporting. Throughout his career, Bittar has maintained a strong commitment to workplace safety and best practice standards.

Paul Marshall – Chief Financial Officer and Company Secretary

Paul Marshall is a chartered accountant with a Bachelor of Law degree, and a post Graduate Diploma in Accounting and Finance. He has 30 years of professional experience having worked for Ernst and Young for 10 years, and subsequently twenty years spent in commercial roles as company secretary and CFO for a number of listed and unlisted companies, mainly in the resources sector. Marshall has extensive experience in all aspects of company financial reporting, corporate regulatory and governance areas, business acquisition and disposal due diligence, capital raising and company listings and company secretarial responsibilities.

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White House demands all Gaza hostages return home ‘this week’ amid stalled talks

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White House special envoy Steve Witkoff said he is pushing for all hostages held in the Gaza Strip to be returned this week, though negotiations with Hamas still appear to be at an impasse. 

‘We adamantly want, and I’m following the president’s direction here when I say this, all of those hostages home this week,’ Witkoff told Fox News’ Bret Baier on ‘Special Report’ Tuesday night. 

‘There’s been a deal on the table for the last six or seven weeks that would have released 10 of the hostages out of the 20 who we think are alive,’ he said, noting that he believes Hamas is ‘100%’ to blame for the hold-up.

‘It was Hamas who slow played that process, and it is Hamas now who is saying we accept that deal,’ Witkoff added.

Witkoff did not go into detail on what specifically is holding up the return of the hostages who have been held captive in the Gaza Strip for nearly two years following the Oct. 7, 2023, attack on Israel. 

But reports on Tuesday suggested the Israeli security cabinet refused to review a deal that would see the partial release of hostages and Witkoff confirmed the ‘official position’ of Jerusalem is a full return of hostages or no ceasefire deal as it pushes forward with its plans to take Gaza City. 

In a statement to Fox News Digital on Wednesday, the Hostages and Missing Families Forum, a group that represents the families of the hostages, said it is ‘hopeful that with this deal on the table, we will finally see our loved ones return.’ 

‘Time is running out, and we know that only by finalizing this deal can we bring all 50 hostages home – those who are alive to begin their healing journey, and those who were tragically lost to receive a dignified burial,’ it added.  ‘We have no time left – let’s make this deal happen now.’

But the forum also issued a public statement on Tuesday after reports said Israel refused to review a partial return deal, and said, ‘It is deeply disappointing that on the very day when masses of Israelis take to the streets demanding the return of all hostages and an end to the war, the government continues to delay progress on the agreement, contrary to the people’s will.’ 

A demonstration of some 350,000 people took place in Israel’s Hostage Square in Tel Aviv on Tuesday night, according to the Forum, just days after another massive protest took to the streets of Tel Aviv, in which the families of the hostages and supporters again called on Israeli Prime Minister Benjamin Netanyahu to reach a deal with Hamas. 

Witkoff argued that there can be negotiations after the hostages are returned for ‘what next day… looks like in Gaza after this is all done and what the definition of Hamas is’ – suggesting these issues remain major hurdles as Israel has repeatedly vowed the complete destruction of Hamas.

The special envoy said it wasn’t his ‘call’ to say whether the terrorist network should be completely destroyed, but noted there was room for negotiations in returning the hostages as Palestinian prisoners would also be swapped in exchange. 

Fifty hostages continue to be held by Hamas, only 20 of whom are assessed to still be alive. 

President Donald Trump on Monday predicted there would be a ‘conclusive’ end to the war in Gaza within the next ‘two to three weeks,’ though he did not say how this would be accomplished. 

The Forum responded to the pronouncement and said, ‘We pray this is true and that you gave a deadline to end our suffering. You have committed directly to released hostages that you will bring all of the hostages home – now is the time to make that happen.’ 

Witkoff also said Trump would be hosting a meeting at the White House on Wednesday to discuss a ‘day after’ plan for Gaza, though it is unclear who will take part in this meeting. 

When pressed for details on the meeting, a White House official told Fox News Digital, ‘President Trump has been clear that he wants the war to end, and he wants peace and prosperity for everyone in the region. The White House has nothing additional to share on the meeting at this time.’

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Crypto Market Update: Ethereum Funds Absorb US$1.3 Billion in Weekly Inflows

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Here’s a quick recap of the crypto landscape for Wednesday (August 27) as of 9:00 a.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$111,282, a 1.5 percent increase in 24 hours. Its lowest valuation of the day was US$109,526 and its highest price as of Wednesday was US$112,279.

Bitcoin price performance, August 27, 2025.

Bitcoin price performance, August 27, 2025.

Chart via TradingView

Bitcoin came under pressure Tuesday (August 26) and Wednesday, sliding about 2 to 3 percent and briefly dipping below US$110,000 amid a broader crypto selloff and macroeconomic uncertainty.

Trading near US$111,000 — its lowest level in seven weeks — the drop has sparked debate among investors over whether the pullback presents a buying opportunity.

Ether (ETH) was priced at US$4,605.36, down by 4.3 percent over the past 24 hours. Its lowest valuation of the day so far was US$4,411.96 and its highest level was US$4,638.61.

Altcoin price update

  • Solana (SOL) was priced at US$204.44, up by 9.1 percent. Its lowest valuation for Wednesday so far was US$187.47, and its highest valuation was US$205.32.
  • XRP was trading for US$3.00, up by 3.6 percent in the past 24 hours. Its lowest valuation of the day so far was US$2.89, and its highest valuation of the day was US$3.05.
  • SUI (Sui) was trading for US$3.44, up by 2.4 percent in the past 24 hours. Its lowest valuation of the day so far was US$3.36, and its highest valuation of the day was US$3.50.
  • Cardano (ADA) was priced at US$0.8619, up by 3.5 percent. Its lowest valuation for Wednesday so far was US$0.8327, and its highest valuation was US$0.8746.

Today’s crypto news to know

Trump Media and Crypto.com seal US$6.4 billion CRO treasury deal

Trump Media & Technology Group shares climbed 5 percent on Tuesday (August 26) after the company confirmed a US$6.42 billion partnership with Crypto.com to launch a CRO-focused treasury vehicle.

Dubbed as the Trump Media Group CRO Strategy, the new entity will be seeded with US$1 billion in CRO and its balance will be structured as an equity line for future token purchases.

As part of the agreement, the company will operate a validator node on the Cronos blockchain, staking all its tokens to earn network rewards. CRO prices soaring 30 percent in a single day after the announcement, even as most of the crypto market lagged.

Still, the deal has stirred controversy among token holders, as it required reissuing 70 billion CRO previously “burned” to reduce supply which effectively inflated circulation by more than 200 percent.

Ethereum inflows hit US$1.3 billion following Powell’s policy hints

Ethereum funds saw a massive US$1.3 billion inflow over the past week as traders responded to dovish signals from Federal Reserve Chair Jerome Powell.

Data from SoSoValue shows Ether-based exchange-traded products have absorbed US$3.7 billion since June, compared with US$900 million in outflows from Bitcoin funds.

The surge also coincided with Ethereum hitting a new all-time high of $4,955 on August 24.

Publicly listed companies also joined the rush, adding Ether to their corporate treasuries and pushing collective holdings to nearly 5 percent of total supply.

That accumulation rate is running at more than twice the fastest quarterly pace Bitcoin has ever seen, according to Standard Chartered’s Geoffrey Kendrick via DLNews.

Canary Capital files for first spot ETF tracking Trump meme coin

ReutersCrypto fund manager Canary Capital has submitted paperwork to launch the first-ever spot ETF tied directly to President Trump’s meme coin, TRUMP, according to a Reuters report.

Unlike earlier applications filed under the 1940 Investment Company Act, Canary’s proposal was lodged under the 1933 Securities Act, meaning the ETF would hold TRUMP tokens outright rather than use offshore subsidiaries or cash equivalents.

The application comes despite skepticism from analysts, who note the SEC typically requires a futures ETF to trade for six months before approving a spot product.

The filing follows the SEC’s February announcement that meme coins fall outside its securities jurisdiction, a decision seen as aligning with the president’s pro-crypto stance.

Meanwhile, the TRUMP token has lost more than 70 percent of its value since launching in January. Analysts expect the SEC to rule on several meme coin ETF applications later this year.

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

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

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Kobo Resources Announces Upsize to Previously Announced Non-Brokered Private Placement

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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, due to strong investor demand, it has upsized its previously announced non-brokered private placement of units (the ‘ Offering ‘).

Edward Gosselin, CEO and Director of Kobo commented: ‘ The successful completion of the Company’s private placement and upsize represents an important milestone for Kobo, demonstrating the market’s confidence in our team and in our 100%-owned Kossou Gold Project. Having the overwhelming support of existing and new shareholders, we can build on this foundation for aggressive growth at Kossou as we continue to develop our key assets and create value for all stakeholders . ‘Importantly, 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. ‘

The upsized Offering is for up to 13,899,902 units of the Company (the ‘ Units ‘) at a price of $0.30 per Unit for gross proceeds of up to approximately $4,169,970.60, increased from the previously announced 10,000,000 Units for gross proceeds of up to $3.0 million.

The Units will be issued pursuant to exemptions from the prospectus requirements in accordance with National Instrument 45-106 – Prospectus Exemptions (or, in Québec, Regulation 45-106 respecting Prospectus Exemptions ) (‘ NI 45-106 ‘).

Each Unit will be comprised of one Common Share and one-half of one common share purchase warrant (each whole common share purchase warrant (‘ Warrant ‘). Each whole Warrant will entitle its holder to acquire one Common Share at a price of $0.55 per share for a period of 24 months from the closing of the first tranche of the Offering. The securities underlying the Units will be subject to a 4-month statutory hold period in accordance with applicable Canadian securities laws.

The Company intends to use the net proceeds of the Offering to pursue its 2025 exploration plans as 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 other regional exploration targets, and for general corporate and working capital purposes.

Further to the upsize, closing of the Offering is expected to occur on or about September 5, 2025 (the ‘ Closing ‘), and is subject to certain closing conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange.

The Units, 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’, ‘anticipates’, ‘plans’, ‘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. In this news release, forward-looking statements include, but are not limited to, statements regarding the Company’s ability to obtain requisite approvals, including approval of the TSX Venture Exchange for the Offering; the completion of the Offering, on the terms described herein or at all; the anticipated closing date for the Offering; the proposed use of proceeds; the completion of the Company’s business objectives, and the timing, costs, and benefits thereof; development and exploration costs; and the Company’s exploration program.

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; The inherent risks involved in the exploration and development of mineral properties; unanticipated costs and expenses; the delay or failure to receive requisite approvals; and other risk factors listed from time to time in our documents filed with Canadian Securities regulators on SEDAR+ at www.sedarplus.ca . 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/20250827997181/en/

For further information, please contact:

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

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CoTec Holdings Corp. to Present at the Clean Energy Metals Virtual Investor Conference August 28th

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CoTec Holdings Corp. (TSX-V: CTH; OTCQB: CTHCF) (‘CoTec’) today announced that Julian Treger, Chief Executive Officer, will present live at the Clean Energy Metals Virtual Investor Conference hosted by VirtualInvestorConferences.com on August 28th, 2025

DATE : August 28 th
TIME: 10:30am-11:00am ET
LINK: REGISTER HERE

Available for 1×1 meetings:
Monday Sept. 1, 2025: 9:00am-12:00pm ET;
Tuesday Sept. 2, 2025: 10:00am-12:00pm ET;
Wednesday Sept. 3: 10:00am-11:00am ET

This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.

It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates.

Learn more about the event at www.virtualinvestorconferences.com .

Recent Company Highlights

  • CoTec’s rare earth magnet recycling and manufacturing JV, HyProMag USA LLC (‘HyProMag USA’) commenced stockpiling of feedstock
  • During August 2025, the company announced conversion of all its convertible loans, and entered into $6.6 million in new convertible loan facilities
  • HyProMag USA entered into agreement with global electronics recycler, Intelligent Lifecycle Solutions, for feedstock supply and pre-processing site share in South Carolina and Nevada, on July 24, 2025

About CoTec Holdings Corp.

CoTec Holdings Corp. (TSX-V: CTH, OTCQB: CTHCF) is redefining the future of resource extraction and recycling. Focused on rare earth magnets and strategic materials, CoTec integrates breakthrough technologies with strategic assets to unlock secure, sustainable, and low-cost supply chains for the United States and its allies.

CoTec’s mission is clear: accelerate the energy transition while strengthening U.S. economic and national security. By investing in and deploying disruptive technologies, the Company delivers capital-efficient, scalable solutions that transform tailings, waste streams, and recycled products into high-value critical minerals.

From its HyProMag USA magnet recycling joint venture in Texas, to iron tailings reprocessing in Québec, to next-generation copper and iron solutions backed by global majors, CoTec is building a diversified portfolio with long-term growth, rapid cash flow potential, and high barriers to entry. The result is a game-changing platform at the intersection of technology, sustainability, and strategic materials.

For more information, please visit www.cotec.ca

About Virtual Investor Conferences ®
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.

Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

CONTACTS:
CoTec Holdings Corp.
Braam Jonker
Chief Financial Officer
+1-604-992-5600
braam.jonker@cotec.ca

Virtual Investor Conferences
John M. Viglotti
SVP Corporate Services, Investor Access
OTC Markets Group
(212) 220-2221
johnv@otcmarkets.com

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FPX Nickel Completes Successful Drilling Programs at Baptiste Nickel Project in Central British Columbia

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FPX Nickel Corp. (TSX-V: FPX) (OTCQB: FPOCF) (‘ FPX ‘ or the ‘ Company ‘) is pleased to announce the completion of drilling programs at the Baptiste Nickel Project (‘ Baptiste ‘ or ‘ the Project ‘) in Central British Columbia . The previously announced programs (see FPX’s July 7, 2025 news release) mark the most active campaign at Decar since 2021, with a focus on targeting the first phase completion of geomechanical, hydrogeological, and condemnation holes to complement the Project dataset for the feasibility study and the Company’s planned entry into the environmental assessment (‘ EA ‘) process in the fourth quarter of 2025.

Highlights

  • Drilling completed pursuant to the receipt of multi-year area-based permit from the province of British Columbia which covers all anticipated Baptiste field activities required for the feasibility study (‘ FS ‘)
  • Approximately 1,935 m of geomechanical, hydrogeological, and condemnation drilling was completed around the Project site with most of the meterage focused within the open-pit footprint, tangibly achieving the objectives of the program with focus on long-lead data collection for the EA and FS
  • Over 75% of fieldwork expenditures was disbursed under the terms of contracts awarded to First Nations-owned or -affiliated businesses operating in central British Columbia

‘The 2025 field program achieved all objectives in building a robust dataset for Baptiste to support both the feasibility study and the commencement of the environmental assessment process,’ said Martin Turenne , FPX’s President and CEO. ‘We are particularly pleased with the deepening of our relationships with the multiple First Nations communities connected to the Project, in particular through helping to ensure that those communities maximize their current and future economic participation in the Company’s work programs.’

Figure 1 – Drill rig at Baptiste Nickel Project, 2025 (CNW Group/FPX Nickel Corp.)

Feasibility Study Field Work Investigations

In connection with the environmental and cultural baseline study works ongoing at Baptiste since 2022, FPX has completed the first phase of FS engineering field work investigations. This year’s program was focused on long-lead data collection that will tangibly support the EA process, as well as improved engineering definition within the open-pit footprint.

Approximately 1,935 m of geomechanical drilling, hydrogeological drilling, and condemnation drilling was completed around the Project site during this year’s program, with most of the meterage focused within the open-pit footprint. This meterage strategically achieved the program objectives of initial FS engineering information gathering and will inform the next phase of the field investigation.

The next phase of the FS engineering field investigation program will include resource in-fill drilling, further geomechanical drilling, further hydrogeological drilling, and ex-pit geotechnical drilling. Following the completion of the second phase of engineering field investigations, the FS is expected to be completed in 2027.

Cultural and Environmental Baseline Studies

Cultural and environmental baseline studies have been ongoing for the Baptiste Nickel Project since early 2022 and include surface water hydrology and water quality, wildlife, vegetation, fisheries and aquatics, and archeology programs. Ongoing and expanded programs have been completed in 2024 and 2025 in preparation for the EA process, including ongoing wildlife, vegetation, geochemistry, climate, hydrology, water quality, and hydrogeology work.

The cultural and environmental studies for the Project are being conducted by local First Nations-owned and -affiliated businesses. This approach targets the integration of First Nations perspectives into the scoping and execution of these studies and provides a strong collaborative basis for the EA process, which the Company plans to initiate in the fourth quarter of 2025.

Daniel Apai , P.Eng., FPX’s Vice President, Projects, FPX’s Qualified Person under NI 43-101, has reviewed and approved the technical content of this news release.

About the Baptiste Nickel Project

The Company’s Baptiste Nickel Project represents a large-scale greenfield discovery of nickel mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni 3 Fe) hosted in an ultramafic/ophiolite complex.  The absence of sulphur and our ability to connect to the BC Hydro grid means that Baptiste has the potential to be one of the lowest carbon-intensive nickel producers in the world and will produce a very high-grade product that does not require any intermediate smelting or complex refining.  The Baptiste mineral claims cover an area of 453 km 2 west of Middle River and north of Trembleur Lake, in central British Columbia.  In addition to the Baptiste Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas within the same claims package, most notably at the Van Target which is located 6 km to the north of the Baptiste Deposit.  Since 2010, approximately US$55 million has been spent on the exploration and development of Baptiste.

FPX has conducted mineral exploration activities to date subject to the conditions of agreements with First Nations and keyoh holders. In 2024, the Province of British Columbia identified the Baptiste Nickel Project as the first project to be included in the Province’s new Critical Minerals Office ( ‘CMO’ ) concierge service initiative, a provincial strategy action to enable the prioritization of critical minerals projects in B.C. The CMO initiative is providing an excellent structure to proactively identify and address issues and opportunities ahead of the Project’s entry into the environmental assessment process.

About FPX Nickel Corp.

FPX Nickel Corp.  is focused on the exploration and development of the Baptiste Nickel Project, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite.  For more information, please view the Company’s website at https://fpxnickel.com/ or contact Martin Turenne , President and CEO, at (604) 681-8600 or ceo@fpxnickel.com .

On behalf of FPX Nickel Corp.

‘Martin Turenne’
Martin Turenne , President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered ‘forward-looking information’ within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company’s periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

FPX Nickel logo (CNW Group/FPX Nickel Corp.)

SOURCE FPX Nickel Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2025/27/c1190.html

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Crypto Market Update: Ethereum Funds Absorb US$1.3B in Weekly Inflows

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Here’s a quick recap of the crypto landscape for Monday (August 27) as of 9:00 a.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$111,282, a 1.5 percent increase in 24 hours. Its lowest valuation of the day was US$109,526 and its highest price as of Wednesday was US$112,279.

Bitcoin price performance, August 27, 2025.

Bitcoin price performance, August 27, 2025.

Chart via TradingView

Ether (ETH) was priced at US$4,605.36, down by 4.3 percent over the past 24 hours. Its lowest valuation of the day so far was US$4,411.96 and its highest level was US$4,638.61.

Altcoin price update

  • Solana (SOL) was priced at US$204.44, up by 9.1 percent. Its lowest valuation for Wednesday so far was US$187.47, and its highest valuation was US$205.32.
  • XRP was trading for US$3.00, up by 3.6 percent in the past 24 hours. Its lowest valuation of the day so far was US$2.89, and its highest valuation of the day was US$3.05.
  • SUI (Sui) was trading for US$3.44, up by 2.4 percent in the past 24 hours. Its lowest valuation of the day so far was US$3.36, and its highest valuation of the day was US$3.50.
  • Cardano (ADA) was priced at US$0.8619, up by 3.5 percent. Its lowest valuation for Wednesday so far was US$0.8327, and its highest valuation was US$0.8746.

Today’s crypto news to know

Trump Media and Crypto.com seal US$6.4 Billion CRO treasury deal

Trump Media & Technology Group shares climbed 5 percent on Tuesday (August 26) after the company confirmed a US$6.42 billion partnership with Crypto.com to launch a CRO-focused treasury vehicle.

Dubbed as the Trump Media Group CRO Strategy, the new entity will be seeded with US$1 billion in CRO and its balance will be structured as an equity line for future token purchases.

As part of the agreement, the company will operate a validator node on the Cronos blockchain, staking all its tokens to earn network rewards. CRO prices soaring 30 percent in a single day after the announcement, even as most of the crypto market lagged.

Still, the deal has stirred controversy among token holders, as it required reissuing 70 billion CRO previously “burned” to reduce supply which effectively inflated circulation by more than 200 percent.

Ethereum inflows hit US$1.3 Billion following Powell’s policy hints

Ethereum funds saw a massive US$1.3 billion inflow over the past week as traders responded to dovish signals from Federal Reserve Chair Jerome Powell.

Data from SoSoValue shows Ether-based exchange-traded products have absorbed US$3.7 billion since June, compared with US$900 million in outflows from Bitcoin funds.

The surge also coincided with Ethereum hitting a new all-time high of $4,955 on August 24.

Publicly listed companies also joined the rush, adding Ether to their corporate treasuries and pushing collective holdings to nearly 5 percent of total supply.

That accumulation rate is running at more than twice the fastest quarterly pace Bitcoin has ever seen, according to Standard Chartered’s Geoffrey Kendrick via DLNews.

Canary Capital Files for First Spot ETF Tracking Trump Meme Coin

ReutersCrypto fund manager Canary Capital has submitted paperwork to launch the first-ever spot ETF tied directly to President Trump’s meme coin, TRUMP, according to a Reuters report.

Unlike earlier applications filed under the 1940 Investment Company Act, Canary’s proposal was lodged under the 1933 Securities Act, meaning the ETF would hold TRUMP tokens outright rather than use offshore subsidiaries or cash equivalents.

The application comes despite skepticism from analysts, who note the SEC typically requires a futures ETF to trade for six months before approving a spot product.

The filing follows the SEC’s February announcement that meme coins fall outside its securities jurisdiction, a decision seen as aligning with the president’s pro-crypto stance.

Meanwhile, the TRUMP token has lost more than 70 percent of its value since launching in January. Analysts expect the SEC to rule on several meme coin ETF applications later this year.

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

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

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Heliostar Drills 30.2m Grading 6.29g/t Gold in First Resource Conversion Holes at Ana Paula

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HIGHLIGHTS:

  • 30.20m grading 6.29g/t gold from 195.8m
  • 14.75m grading 13.6g/t gold from 153.5m
  • 20.95m grading 6.67g/t gold from 113.5m
  • 12.20m grading 8.72g/t gold from 344.5m
  • Consistent gold mineralization at the western end of the High Grade Panel
  • First results from a 15,000 metre program continuing throughout 2025

Heliostar Metals Ltd. (TSXV: HSTR,OTC:HSTXF) (OTCQX: HSTXF) (FSE: RGG1) (‘Heliostar’ or the ‘Company’) is pleased to announce its first results from the current 15,000 metre drill program at its 100% owned Ana Paula project in Guerrero, Mexico. The program has the primary goal of converting inferred ounces to higher confidence classifications, as well as supporting the ongoing Feasibility Study and testing the next exploration targets around the Ana Paula deposit.

Heliostar CEO, Charles Funk, commented, ‘In 2025, Heliostar will drill more metres than we have in our entire Company’s history. We intend to drill between 40,000-50,000 metres from the close of the mine acquisitions late last year to the end of 2025. This drilling is being funded by cashflows from our operating mines. We are particularly excited to be undertaking our largest program at Ana Paula. These first results highlight the consistency of gold mineralization at the High Grade Panel, where we have two rigs turning. One is focused on resource drilling to grow the resource and to convert inferred to higher confidence ounces, and the second is with a geotechnical focus to support the Feasibility Study. These are the first of consistent, drill results planned to be released monthly from Ana Paula through 2025 and into 2026.’

Drilling Program

Heliostar has two rigs turning with 18 holes completed and 5,556 metres drilled to date. Drilling is designed along north-south sections with angled holes to best define the overall east-west orientation of the High Grade Panel. Heliostar’s drilling approach at Ana Paula has been to rotate drilling by approximately 90 degrees from the majority of historic intercepts. This change has been interpreted by the Company to have contributed to demonstrating more continuous and higher-grade gold mineralization within the High Grade Panel than previous operators recognized.

Where appropriate, the holes are also being used to collect rock strength data, hydrogeologic data and samples for further metallurgical studies that will directly influence the Ana Paula mine design in the ongoing Feasibility Study.

Drill Results Summary

Holes AP-25-323 and AP-25-325 are resource conversion holes drilled at the western end of the High Grade Panel. Hole AP-25-323 was drilled further west than the most prospective polymictic breccia host unit and still returned a number of attractive intercepts, including 12.2 metres (‘m’) grading 8.73 grams per tonne (‘g/t’) gold from 344.5 m.

AP-25-325 is located ~30m southeast of AP-25-323 and intercepted the favourable breccia host unit. The hole returned a wide, high-grade interval of 30.2 m grading 6.29 g/t gold from 195.8 m and a number of deeper intercepts that have the potential to expand the resource, including 4.5 m grading 12.6 g/t gold from 277.5 m downhole beneath the High Grade Panel.

Holes AP-25-322 and AP-25-324 are geotechnical holes for mine development planning and returned assay results in line with expectations, including a hit of 14.75 m grading 13.6 g/t gold from 153.5 m in AP-25-322.

Drilling continues at the less well-defined western edge of the High Grade Panel, with results from three additional holes pending from this area. Recently, drilling has been focused in the centre of the High Grade Panel with assays from seven holes pending from this area.

The next Ana Paula drill results are anticipated to be released in mid- to late September.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/7729/264051_510b159934e6b936_003.jpg

Figure 1: Plan Map of the current drill program at Ana Paula

To view an enhanced version of this graphic, please visit:
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Figure 2: Cross-Section through hole AP-25-325

To view an enhanced version of this graphic, please visit:
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Drilling Results and Coordinates Tables

Hole ID From
(metres) 		To
(metres) 		Interval
(metres) 		Au
(g/t) 		Topcut
Au (to 
64 g/t) 		Hole
Purpose
AP-24-322 21.8 43.0 21.2 3.77 Geotechnical Hole
and 113.5 134.45 20.95 6.67
and 153.5 168.25 14.75 13.6 11.6
including 164.4 168.25 3.85 45.1 37.2
and 245.2 255.75 10.55 2.14
AP-24-323 195.5 199.5 4.0 7.81 Resource Hole
and 224.5 235.5 11.0 2.26
and 344.5 356.7 12.2 8.72
including 353.0 356.7 3.7 24.4
AP-25-324 52.0 65.2 13.2 2.73 Geotechnical Hole
including 64.15 65.2 1.05 18.4
AP-25-325 81.4 94.5 13.1 2.10 Resource Hole
and 195.8 261.0 65.2 3.81
including 195.8 226.0 30.2 6.29
and 277.5 282.0 4.5 12.6
and 295 301.0 6.0 2.25
and 369.6 371.9 2.3 6.43

 

Table 1: Significant Drill Intersections

Drilling Coordinates Table

Hole ID Easting
(WGS84 Zone 14N) 		Northing
(WGS84 Zone 14N) 		Elevation
(metres) 		Azimuth
(°) 		Inclination
(°) 		Length
(metres)
AP-25-322 410,129 1,998,045 924.3 180 -55 269.4
AP-25-323 410,055 1,998,154 954.2 180 -55 431.0
AP-25-324 410,205 1,998,017 932.4 180 -50 59.4
AP-25-325 410,080 1,998,140 950.2 180 -55 392.0

 

Table 2: Drill Hole Details

Quality Assurance / Quality Control

Drill core is PQ size, and the core is cut in half, with half sent for analysis. Core samples were shipped to ALS Limited in Zacatecas, Zacatecas, Mexico, for sample preparation and for analysis at the ALS laboratory in North Vancouver. The Zacatecas and North Vancouver ALS facilities are ISO/IEC 17025 certified. Gold was assayed by 30-gram fire assay with atomic absorption spectroscopy finish, and overlimits were analyzed by 30-gram fire assay with gravimetric finish.

Control samples comprising certified reference and blank samples were systematically inserted into the sample stream and analyzed as part of the Company’s quality assurance / quality control protocol.

True widths are not reported as mineralization at Ana Paula occurs as disseminations or vein stockworks with variable controls, including rock porosity, lithology and fault networks.

Statement of Qualified Person

Stewart Harris, P.Geo., a Qualified Person, as such term is defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed the scientific and technical information that forms the basis for this news release and has approved the disclosure herein. Mr Harris is employed as Exploration Manager of the Company.

About Heliostar Metals Ltd.
Heliostar is a gold mining company with production from operating mines in Mexico. This includes the La Colorada Mine in Sonora and the San Agustin Mine in Durango. The Company also has a strong portfolio of development projects in Mexico and the USA. These include the Ana Paula project in Guerrero, the Cerro del Gallo project in Guanajuato, the San Antonio project in Baja Sur and the Unga project in Alaska, USA.

FOR ADDITIONAL INFORMATION, PLEASE CONTACT:

Charles Funk
President and Chief Executive Officer
Heliostar Metals Limited
Email: charles.funk@heliostarmetals.com
Phone: +1 844-753-0045		 Rob Grey
Investor Relations Manager
Heliostar Metals Limited
Email: rob.grey@heliostarmetals.com
Phone: +1 844-753-0045

 

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.

Cautionary Statement Regarding Forward-Looking Information

This news release includes certain ‘Forward-Looking Statements’ within the meaning of the United States Private Securities Litigation Reform Act of 1995 and ‘forward-looking information’ under applicable Canadian securities laws. When used in this news release, the words ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘target’, ‘plan’, ‘forecast’, ‘may’, ‘would’, ‘could’, ‘schedule’ and similar words or expressions, identify forward-looking statements or information. These forward-looking statements or information relate to, among other things, show the full extent of the deposit, upgrade and expand the resource base, growing our annual production profile in the near term and bringing additional production online.

Forward-looking statements and forward-looking information relating to the terms and completion of the Facility, any future mineral production, liquidity, and future exploration plans are based on management’s reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the receipt of necessary approvals, price of metals; no escalation in the severity of public health crises or ongoing military conflicts; costs of exploration and development; the estimated costs of development of exploration projects; and the Company’s ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.

These statements reflect the Company’s respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political, and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or forward-looking information and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: precious metals price volatility; risks associated with the conduct of the Company’s mining activities in foreign jurisdictions; regulatory, consent or permitting delays; risks relating to reliance on the Company’s management team and outside contractors; risks regarding exploration and mining activities; the Company’s inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of public health crises; the economic and financial implications of public health crises, ongoing military conflicts and general economic factors to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company’s interactions with surrounding communities; the Company’s ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption ‘Risk Factors’ in the Company’s public disclosure documents. Readers are cautioned against attributing undue certainty to forward-looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.

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