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American Eagle Drills 802 Metres of 0.71% Copper Eq. from Surface, including 375 Metres of 1.01% Copper Eq.

January 26, 2026 No Comments

American Eagle Gold Corp. (TSXV: AE) (‘American Eagle’ or the ‘Company’) is pleased to report one of the strongest drill results to date at its 100% owned NAK Project, highlighting a very wide, near-surface, high-grade interval that demonstrates continuous mineralization from surface to depth and materially expands the scale and coherence of the South Zone.

Drill hole NAK25-78 intersected 802 metres of 0.71% Copper Equivalent (‘CuEq’) from surface, including 375 metres of 1.01% CuEq beginning 211 metres downhole, confirming a broad, high-grade mineralized system with strong continuity across previously untested areas. The results increase the overall size of the South Zone and successfully connect multiple high-grade discoveries made earlier in the 2025 drill season, while demonstrating a significant expansion of the known highest-grade part of the system.

Highlights of NAK25-78

802 metres of 0.71% CuEq from surface, including:
- 375 metres of 1.01% CuEq, beginning 211 metres downhole and within
- 645 metres of 0.82% CuEq
Demonstrates continuous, high-grade mineralization from surface to depth with minimal internal dilution
Expands and links the highest-grade parts of the South Zone through previously untested gaps between drill fences
With these results, the South Zone now extends approximately 700 metres east-west, 500 metres north-south and over 800 metres vertically

About NAK25-78

Drill hole NAK25-78 was designed to test the continuity and growth of its current northwesterly limits, along with the width and vertical extent of high-grade mineralization within the South Zone. The hole was collared approximately 125 metres north of the highest-grade mineralization encountered in NAK23-17, drilled at a shallower angle toward the southeast. NAK25-78 traversed across the South Zone and demonstrates that high-grade mineralization extends from near surface to depth. The results confirm broad, continuous mineralization and expand the South Zone both to the northwest and southeast. Importantly, this hole provides critical geological information, significantly improving the Company’s understanding of the South Zone geometry, which now appears to host a significant high-grade core with mineralization extending in multiple directions.

Hole NAK25-78 was planned in conjunction with NAK25-80, which aimed to demonstrate continuity from the gold-rich, near-surface mineralization delineated 450 m to the east of NAK25-78, with the now better-defined deeper, high-grade zone to the west. Holes NAK26-78 and -80 will provide additional confidence in modeling the high-grade mineralization geometry and better inform the Company’s understanding of the various mineralization phases that comprise the broader South Zone. The results from Hole NAK25-80 will inform the design of an aggressive follow-up drill program and advance the South Zone toward an initial resource assessment. The Company believes the South Zone could represent an initial area of development, with the potential to support the advancement of the broader, large-scale mineralized system.

Strategic Importance of the South Zone:

The South Zone is characterized by strong grades, shallow mineralization, and minimal overburden, making it a logical focus for continued step-out and infill drilling. This area has the potential to support early-stage development scenarios while providing optionality for bulk mining approaches in adjacent, yet-to-be-defined zones across the NAK project.

With these latest results, the South Zone’s dimensions extend over 700 m in the east-west direction, 500 m in the north-south direction, and over 800 m in depth, with the system’s bounds still unknown. The holes drilled in the 2025 season have contributed to a high-confidence, substantial increase in the zone compared with previous drilling seasons. Strong potential for expansion remains, specifically along the southern margin of the Babine Porphyry stock, where the Company has completed additional widely spaced step-out drilling, within a 1 km trend of open, highly prospective ground, extending eastward from the currently modeled bounds of the zone.

‘These results should significantly improve investor understanding of the scale, continuity, and significance of the South Zone. The strength and consistency of mineralization observed to date reinforces our view that the South Zone represents a high-grade core within a much larger project,’ said CEO Anthony Moreau.

Watch: Webinar with Anthony Moreau and Neil Prowse Discussing the Significance of These Results

NAK25-78 Assay Results (Table 1) and Details*

Hole	From	To	Length	Cu %	Au g/t	Ag g/t	Mo ppm	CuEq %
NAK25-78	54	856	802	0.31	0.27	1.2	132	0.71
Including
NAK25-78	298	586	288	0.42	0.49	1.7	186	1.10
Within
NAK25-78	211	586	375	0.37	0.45	1.4	200	1.01
Within
NAK25-78	211	856	645	0.36	0.31	1.4	155	0.82
And
NAK25-78	738	856	118	0.60	0.19	2.5	120	0.93

* Copper Equivalent (CuEq) shown in Tables for drill intercepts are calculated on the basis of US$ 4.50/lb for Cu, US$ 3,375/oz for Au, US$ 60/oz for Ag and US$ 25/lb for Mo, with 80% metallurgical recoveries assumed for all metals (since it’s unclear what metals will be the principal products, assuming different recoveries is premature at this stage). The formula is: CuEq. = Cu % + (Au grade in g/t x (Au recovery / Cu recovery) x [Au price ÷ 31] / [Cu price x 2200 x 1%]) + (Ag grade in g/t x (Ag recovery / Cu recovery) x [Ag price ÷ 31] / [Cu price x 2200 x 1%] + (Mo grade in % x (Mo recovery / Cu recovery) x [Mo price] / [Cu price]). The assays have not been capped. The reported intervals represent drill intercepts, and insufficient data are available at this time to state the true thickness of the mineralized intervals.

NAK25-78 was drilled at a moderate inclination to the southeast, from the same collar as NAK24-18, and approximately 125m north of the strongest previously encountered mineralization at the South Zone. NAK25-78 collared into a package of interbedded sandstone, siltstone, and conglomerate to a depth of 211 m, encountering sporadic copper/gold mineralization taking the form of local zones of dense chalcopyrite veining and enveloping disseminations.

From 211 m to 525 m, an increase in grade coincides with the presence of the middle conglomerate at NAK as host, characterized by a sharp increase in the density and consistency of both vein-hosted and disseminated chalcopyrite, bornite, and local molybdenite. The conglomerate is intruded by meter-scale variably and locally strongly mineralized porphyry dikes, including a bornite-mineralized sparsely plagioclase porphyritic monzonite between 422 and 427 m.

Below 525 m, medium- to coarse-grained sandstone interbedded with thin layers of fine-grained sandstone and siltstone is the predominant host to the end of the hole. Strongly disseminated and vein-hosted bornite and chalcopyrite mineralization are remarkably consistent down to a depth of 586 m, and are associated with dark, magnetite-biotite alteration. Local zones of overprinting clay alteration also occur and are commonly associated with semi-massive chalcopyrite-molybdenite veining.

Mineralization decreases between 586 and 738 m, but picks up again sharply thereafter, down to approximately 850m, with chalcopyrite and bornite matrix- and clast-replacement occurring within the lower concretion-bearing sandstone, and with the mineralization being both closely associated with, and occurring within, fine-grained diorite dikes and(or) sills. Below 856 m, sulfide speciation transitions sharply to pyrite-dominant, and copper grades decrease.

Collar details for holes in this release (table 2):

Hole	UTM_Grid	UTM_East	UTM_North	Azimuth	Inclination	TD (m)
NAK25-78	NAD83_Z9	674961	6129472	125	-58	924

QA/QC and Sampling Protocol

Sampling at NAK follows a rigorous methodology and internal QA/QC protocol. Drill core is halved on site, and samples are submitted to ALS Geochemistry in Langley, British Columbia for preparation and analysis. ALS is accredited to the ISO/IEC 17025 standard for assays. All analytical methods include quality control standards inserted at set frequencies. The entire sample interval is crushed and homogenized, and 250 g of the homogenized sample is pulped. All samples were analyzed for gold, silver, copper, molybdenum and a suite of 45 other major and trace elements. Analysis for gold is by fire assay fusion followed by Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) on 30 g of pulp. Analysis for silver, copper, and molybdenum and all other major and trace elements are analyzed by four-acid digestion followed by Inductively Coupled Plasma Mass Spectroscopy (ICP-MS).

Internal QA/QC protocols dictate that individual core samples are no less than 70 cm and no greater than 3 m in length. To control standard, blank, and duplicate sample frequency, and to better constrain pass/fail re-analysis intervals, samples are submitted to the lab in 50 sample batches. Within each 50-sample batch, there is one gold-copper standard and two coarse reject duplicates, inserted at regular intervals, and two blank samples, inserted sequentially following well-mineralized samples where possible, for a total of 10% QA/QC samples. All gold and copper standard analyses from the 2024 program passed within 3 standard deviations of expected values. Where duplicate values differed significantly, the lower values from the resulting re-analyses were used.

About American Eagle‘s NAK Project

The NAK Project lies within the Babine copper-gold porphyry district of central British Columbia. It has excellent infrastructure through all-season roads and is close to the towns of Smithers, Houston, and Burns Lake, B.C., which lie along a major rail line and Provincial Highway 16. Historical drilling and geophysical, geological, and geochemical work at NAK, which began in the 1960’s, tested only to shallow depths. Still, the work revealed a very large near-surface copper-gold system that measures over 1.5 km x 1.5 km. Drilling completed by American Eagle in 2022, 2023, and 2024 returned significant intervals of high-grade copper-gold mineralization that reached beyond and much deeper than the historical drilling, indicating that zones of near-surface and deeper mineralization, locally with considerably higher grades, exist within the broader NAK property mineralizing system. American Eagle Gold completed an aggressive 31,500 metre drill program in 2025 designed to expand and improve the mineral footprint; assays are currently being received.

For the latest videos from American Eagle, Ore Group, and all things mining, subscribe to our YouTube Channel: youtube.com/@theoregroup

About American Eagle Gold Corp.

American Eagle is dedicated to advancing its NAK copper-gold porphyry project in west-central British Columbia, Canada. The Company benefits from over $25 million in cash, bolstered by two strategic investors formed in the past two years with Teck Resources and South32. With substantial financial and technical resources, American Eagle Gold is well-positioned to drill, de-risk, and define the full potential of the NAK Copper-Gold porphyry project.

Anthony Moreau, Chief Executive Officer

416.644.1567
amoreau@oregroup.ca
www.americaneaglegold.ca

Q.P. Statement

Mark Bradley, B.Sc., M.Sc., P.Geo., a Certified Professional Geologist and independent ‘qualified person’ for the purposes of Canada’s National Instrument 43-101 Standards of Disclosure for Mineral Properties, has verified and approved the information contained in this news release.

Forward-Looking Statements

Certain information in this press release may contain forward-looking statements. Forward-looking statements in this press release include, but are not limited to: including statements relating to the use of proceeds of the Offering, the tax treatment of the Charity FT Shares, the receipt of all necessary regulatory approvals in connection with the Offering, the 2025 drill program or its anticipated results at the Company’s NAK project, the ability of the Company to make the Qualifying Expenditures as anticipated by management, and other matters ancillary or incidental to the foregoing. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Therefore, actual results might differ materially from those suggested in forward-looking statements. American Eagle Gold Corp. assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to American Eagle Gold Corp. Additional information identifying risks and uncertainties is contained in filings by American Eagle Gold Corp. with Canadian securities regulators, which filings are available under American Eagle Gold Corp. profile at www.sedarplus.ca.

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

Source

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Finlay Minerals samples 15.3% Copper and 532 g/t Silver on its 100% owned SAY Project

January 26, 2026 No Comments

finlay minerals ltd. (TSXV: FYL,OTC:FYMNF) (OTCQB: FYMNF) (‘Finlay’ or the ‘Company’) is pleased to announce that the 2025 SAY exploration program successfully identified new, large-scale targets with continued high-grade copper and silver signatures.

Finlay Minerals Ltd. logo (CNW Group/Finlay Minerals Ltd.)

Highlights from the 2025 Exploration Program include:

Identifying a 1,700 meter (‘m’) x 2,600 m multi-element soil geochemical anomaly at the IFT Target.
Identifying a 1,700 m x 1,000 m high-grade Copper (‘Cu’) and Silver (‘Ag’) mineralized footprint at the IFT Target, including a rock sample with 15.3% Cu and 532 g/t Ag.
Discovering the new Ozzy Zone with rock sampling of up to 2.04% Cu and 229 g/t Ag.
Identifying 2 distinct multi-element anomalies at the new Ozzy Zone through biogeochemical sampling.

Ilona B. Lindsay, Finlay’s President & CEO states:

‘The 2025 exploration results on our SAY Property exceeded our expectations. Our 2025 work vectored to and identified new, large kilometer-sized anomalies with continued high-grade copper & silver values. While the SAY is an early-stage property of Finlay’s, it is exhibiting some of the characteristics that one finds with significant discoveries. With $2.2 million of exploration funding in place for 2026, Finlay will advance the SAY with a considerably expanded exploration program.‘

The 2025 exploration program, focused on the IFT and Ozzy targets with the collection of 80 rock, 292 soil, and 273 tree bark samples, in conjunction with geological mapping, to follow up on the targets generated by the Airborne Magnetic survey conducted in June.⁽¹⁾ The Airborne Magnetic survey identified significant and multiple northeast-trending structures. These structures resemble those found in the Toodoggone District of British Columbia, which is recognized for its potential to host larger porphyry and epithermal deposits. Sampling was focused on a 2,500 m x 2,500 m circular magnetic anomaly at the IFT porphyry target and the intersection of kilometer-scale, northeast- and northwest- trending magnetic anomalies at the Ozzy target. The IFT is located 4.5 km west of the high-grade Cu + Ag AG and East Breccia Zones delineated in 2024. The AG Target was outlined as a 200 m x 200 m high-grade Cu + Ag mineralized zone; the East Breccia assayed 1.17% Cu and 103.5 g/t Ag across 21.7m length of continuous chip sampling. ⁽²⁾

Refer to Figure 1 – SAY Property Targets and 2025 Surface Sample Locations underlain by Airborne Magnetics.

Refer to Figure 2 – IFT Target 2025 Copper in Rock Samples.

Refer to Figure 3 – IFT Target 2025 Silver in Rock Samples.

Situated in the underexplored Driftwood Corridor, the SAY Project is part of a 135-kilometer geological corridor of Stikine Terrane that includes American Eagle Gold’s NAK project, as well as Boliden Mineral Canada and Amarc Resources’ DUKE copper-molybdenum-silver-gold prospects.

IFT Target –

The assay results from soil sampling and mapping demonstrate IFT is a viable porphyry target. Soil sampling along the eastern portion of the IFT identified a 1,700 m x 2,600 m Cu + Ag + Arsenic (‘As’) + Bismuth (‘Bi’) + Molybdenum (‘Mo’) + Tellurium (‘Te’) geochemical anomaly synonymous with porphyry deposit environments. The soil geochemical anomaly occurs within the large circular magnetic anomaly encompassing the IFT showing in an area that is predominantly devoid of outcrop. Mapping and rock sampling outlined a Cu and Ag mineralized area of 1,700 m x 1,000 m. Mineralization occurs as massive sulphides and lenses disseminated in wall rock as well as fracture-fill and veins. Chalcopyrite and bornite are the dominant copper-bearing sulphides analogous to the SPUR target to the east. Mapping, geochemical studies and geophysical signatures display characteristics commonly associated with porphyry mineral systems. A total of 33 rock samples were assayed from the IFT target and highlights from the rock samples can be seen in Table 1 below:

Sample ID	Easting NAD83/Zone 9	Northing NAD83/Zone 9	Cu %	Ag g/t	Au g/t
J606725	627938	6211883	15.3	532	0.004
J606724	627938	6211883	9.37	324	0.004
J607467	627496	6211020	2.57	52.7	0.121
J606723	628216	6212131	1.81	50.1	0.002
J607466	627453	6211513	1.57	13.4	0.017
J606702	629305	6211653	1.39	79.1	0.009
J607465	627467	6211547	1.20	47.0	0.002
J607462	628975	6211353	1.13	39.8	0.008
J607464	627609	6211799	0.83	14.1	0.023
J606708	627359	6211830	0.67	28.4	0.003
J607461	629315	6211651	0.67	3.5	0.503

Ozzy Target –

The Ozzy target was identified this year from an intersection of a northeast-trending and a northwest-trending magnetic anomaly. There are prominent magnetic highs on either side of the northeast trending structure. Biogeochemical sampling was completed over the Ozzy target, successfully identifying targets beneath the till cover. Results from widely spaced biogeochemical sampling lines outlined a multi-element Ag + As + Cobalt + Cu + Mercury + Mo + Selenium + Zinc anomaly over these magnetic highs with results supported by surface soil and rock sampling to confirm the effectiveness of the biogeochemical sampling. To the east of the biogeochemical anomaly, an andesite float sample with calcite-bornite-malachite veining assayed 2.04% Cu and 229 g/t Ag (J606727).

The southern Ozzy area contained strong visual manganese alteration of sedimentary and volcanic rocks. Chlorite alteration is prevalent with patches of silica and sericite. Mineralization is dominated by pyrite with no magnetite present; veining is dominated by carbonate and quartz.

2026 Plans –

Planning for the 2026 exploration program is in progress. The Company plans to further refine the targets by completing a minimum of 25-line km of Induced Polarization geophysical surveys over the IFT and Ozzy targets with additional mapping, soil sampling, and biogeochemical programs over the IFT, Ozzy and Shel targets in preparation for drilling. Regional work will also be completed over potential new targets.

Qualified Person:

Wade Barnes, P. Geo. and Vice President, Exploration for Finlay Minerals and a qualified person as defined by National Instrument 43-101, has approved the technical content of this news release.

Quality Control/Quality Assurance Program:

Soil samples were sent to the ALS Canada Ltd. (‘ALS’), North Vancouver, Canada facility for preparation and analysis. At ALS, soil samples were dried at 60°C and sieved to -180 μm (-80 mesh). The -80 mesh fraction for all samples were analyzed for Au at ALS by fire assay fusion of a 30 g sub-sample with an ICP-AES finish. Samples were further analyzed for 48 elements using four-acid super trace analysis (ME-MS61).

Rock samples were selective in nature and ranged from mostly grab samples from outcrop and minor float samples. The rock samples were crushed to 70% passing <2 mm size, mechanically split (riffle split) with a representative sample being pulverized to 85% passing <75 μm. Samples were then analyzed for Au at ALS by fire assay fusion of a 30 g sub-sample with an ICP-AES finish. Samples were further analyzed for 48 elements using four-acid super trace analysis (ME-MS61). ALS is ISO/IEC 17025 accredited.

Biogeochemical samples were sent to ALS Canada’s, North Vancouver facility for preparation and analysis. At ALS, the bark samples were dried at 60°C and 100 g of this dry plant material was milled using a Retsch Mill to 100% passing 1 mm and producing a homogeneous and representative pulp that could be sub-sampled for analysis. Samples were then analyzed using the ME-VEG41 protocol and aqua regia digestion to produce 53 elements

As part of a comprehensive Quality Assurance/Quality Control (‘QA/QC’) program, Finlay control samples were inserted in each soil sample analytical batch at the rate of one standard and/or blank in 25 regular samples. The control sample results were then checked to ensure proper QA/QC.

References:

About finlay minerals ltd.

Finlay is a TSXV company focused on exploration for base and precious metal deposits through the advancement of its ATTY, PIL, JJB, SAY and Silver Hope Properties; these properties host copper-gold porphyry and gold-silver epithermal targets within different porphyry districts of northern and central BC. Each property is located in areas of recent development and porphyry discoveries with the advantage of hosting the potential for new discoveries.

Finlay trades under the symbol ‘FYL’ on the TSXV and under the symbol ‘FYMNF’ on the OTCQB. For further information and details, please visit the Company’s website at www.finlayminerals.com

On behalf of the Board of Directors,

Robert F. Brown,
Executive Chairman of the Board

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.

Forward-Looking Information: This news release includes certain ‘forward-looking information’ and ‘forward-looking statements’ (collectively, ‘forward-looking statements’) within the meaning of applicable Canadian securities legislation. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as ‘expect’, ‘plan’, ‘anticipate’, ‘project’, ‘target’, ‘potential’, ‘schedule’, ‘forecast’, ‘budget’, ‘estimate’, ‘intend’ or ‘believe’ and similar expressions or their negative connotations, or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’, ‘should’ or ‘might’ occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements in this news release include statements regarding, among others, the exploration plans for the SAY Property. Although Finlay believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These forward-looking statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, the timing and receipt of regulatory and governmental approvals, the ability of Finlay and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Finlay’s proposed transactions and programs on reasonable terms, and the ability of third-party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements, and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Finlay does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future or otherwise, except as required by applicable law.

SOURCE finlay minerals ltd.

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Copper Quest Announces $1,950,000 Investment by Strategic International Investor ‘Concept Capital Management’ a Foundational Investor in Mining and Exploration Companies

January 26, 2026 No Comments

Not for distribution to the United States newswire services or for dissemination in the United States

Copper Quest Exploration Inc. (CSE: CQX,OTC:IMIMF; OTCQB: IMIMF; FRA: 3MX) (‘Copper Quest’ or the ‘Company’) is pleased to announce that it plans to complete a non-brokered, bought deal, strategic private placement (the ‘Private Placement’) with Concept Capital Management Ltd. (the ‘Concept Capital Management’) by issuing up to an aggregate of 15,000,000 units (the ‘Units’) at a price of C$0.13 per Unit for gross proceeds of up to C$1,950,000. Copper Quest is pleased to welcome this new strategic investor who shares the Company’s long-term view of investment and provides foundational financing for Mining and exploration companies to complete exploration and feasibility studies.

The Board of Concept Capital Management stated: ‘We are very excited for the opportunity to invest in a company that we see has great potential to advance multiple notable properties. Our management group is focused on up-and-coming copper properties that we feel have undervalued discovery hole results such as the Stars and Kitimat properties owned by Copper Quest. We also see exceptional value in gold properties we believe could quickly increase current gold resources through drilling. We are particularly interested in stable, mining friendly jurisdictions such as British Columbia and so we feel Copper Quest is just a great investment opportunity for us.’

Brian Thurston, CEO of Copper Quest, comments: ‘We’re thrilled to welcome Concept Capital as a new cornerstone investor into Copper Quest and thankful for their shared vision to grow shareholder value through the acquisition and advancement of multiple properties by drilling and discovery. This hard dollar investment into Copper Quest adds another level of value for our shareholders through a strong treasury and working capital that allows the Company to expand its planned exploration and drilling operations for the 2026 season.’

Strategic International Private Placement

Each Unit consists of one (1) common share in the capital of the Company (a ‘Share‘) and one Share purchase warrant, whereby each Share purchase warrant (a ‘Warrant‘) shall be convertible into an additional Share (a ‘Warrant Share‘) at an exercise price of C$0.165 per Warrant Share. Each Warrant shall expire on the date that is two (2) years following the date of issuance (the ‘Expiry Date‘). The Expiry Date of the Warrants may be accelerated if the closing price of the Shares on any Canadian stock exchange equals or exceeds $0.50 for ten (10) consecutive trading days at any time following the date that is four months and one day after the date of issue of the Warrants, such that the Warrants shall expire on the date which is 30 calendar days following the date a news release is issued by the Company announcing the accelerated expiry date of the Warrants.

Proceeds from the Private Placement are intended for exploration activities and general working capital purposes. Closing of the Private Placement is subject to the receipt of all necessary regulatory and other approvals and is expected to take place on or before February 4, 2026. Copper Quest may pay finder’s fees in connection with the Private Placement.

The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the ‘U.S. Securities Act’), or any state securities laws, and may not be offered or sold absent registration or compliance with an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

About Copper

Copper is an essential industrial metal at the heart of the global energy transition and modern infrastructure. It plays a critical role in electrification, renewable energy systems, electric vehicles, data centers, and smart technologies. With global demand rising and new supply challenged by declining grades, complex permitting, and underinvestment, the copper market faces persistent deficits and growing geopolitical scrutiny. Recent U.S. policy announcements, including import tariffs and initiatives to secure domestic and allied supply chains, underscore copper’s strategic importance and the need for resilient, localized resource exploration, development, production and processing capacity.

About Copper Quest

The company’s land holdings comprise 7 projects that span over 45,000 hectares in great mining jurisdictions of Canada and the USA. Copper Quest is committed to building shareholder value through acquisitions, discovery-driven exploration, and responsible development of its North American critical mineral portfolio of assets. 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.

Copper Quest has a 100% interest in the past-producing Alpine Gold Mine located approximately 20 kilometers northeast of the City of Nelson British Columbia, spanning 4,611.49 hectares with a 2018 National Instrument 43-101 Standards of Disclosure for Mineral Projects historical inferred resource of 268,000 tonnes, estimated using a cut-off grade of 5.0 g/t Au and an average grade of 16.52 g/t Au, that represents an inferred resource of 142,000 oz of gold (McCuaig & Giroux, 2018)*. Apart from the Alpine Mine itself the property hosts 4 other less explored significant vein systems including the past-producing King Solomon vein workings, the Black Prince and the Cold Blow veins system, and the Gold Crown vein system. *The Company has not yet completed sufficient work to verify the 2018 historic inferred resource results.

Copper Quest has a 100% interest in the road accessible Stars Porphyry Copper-Molybdenum Property, spanning 9,693 hectares in central British Columbia’s Bulkley Porphyry Belt with Tana Zone discovery drill intersection highlights of 0.466% Cu over 195.07m* in drill hole DD18SS004 from 23.47m, 0.200% Cu over 396.67m* in drill hole DD18SS010 from 29.37m, and 0.205% Cu over 207.27m* in drill hole DD18SS015 from 163.98m. This highly prospective, approximately 5 X 2.5 kilometer annular magnetic anomaly is interpreted to represent an altered monzonite intrusion and surrounding hornfels.

Copper Quest has a 100% interest in the road accessible Kitimat Copper-Gold Property, spanning 2,954 hectares within the Skeena Mining Division of northwestern British Columbia located northwest of the deep-water port community of Kitimat, British Columbia. 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. Exploration on the Kitimat property dates to the late 1960s, with the most significant historical work conducted by Decade Resources Ltd. (2010), which completed 16 diamond drill holes totaling 4,437.5 meters in the Jeannette Cu-Au Zone, and drill intersection highlights of 1.03 g/t Au, 0.54% Cu over 117.07 m in Hole J-7 from 1.52 m, 1.00 g/t Au, 0.55% Cu over 103.65m in Hole J-1 from 9.15 m, 0.80 g/t Au, 0.45% Cu over 107.01m in Hole J-2 from 6.10 m, and 0.41 g/t Au, 0.33% Cu over 112.20m in Hole J-8 from 11.89 m.

Copper Quest has a 100% interest in the Nekash Copper-Gold Project, a porphyry exploration opportunity located in Lemhi County, Idaho, USA, 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 consists of 70 unpatented federal lode claims covering 585 hectares.

Copper Quest has a 100% interest in the road accessible Stellar Property, spanning 5,389-hectares in British Columbia’s Bulkley Porphyry Belt contiguous to the Stars Property.

Copper Quest has a 100% interest in the Thane Project located in the Quesnel Terrane of Northern British Columbia spanning over 20,658 hectares with 10 priority targets identified demonstrating significant copper and precious metal mineralization potential.

Copper Quest has an earn-in option of up to 80% and joint-venture agreement on the road accessible Rip Porphyry Copper-Molybdenum Project, spanning 4,700-hectares located in the Bulkley Porphyry Belt in central British Columbia.

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:

Kelly Abbott
Investor Relations
info@copper.quest

https://x.com/CSECQX
https://ca.linkedin.com/company/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, the planned use of proceeds of the Private Placement, and 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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Lahontan Mobilizes Core Drill Rig to Santa Fe

January 26, 2026 No Comments

TORONTO, ON / ACCESS Newswire / January 26, 2026 / Lahontan Gold Corp. (TSXV:LG,OTC:LGCXF)(OTCQB:LGCXF)(FSE:Y2F) (the ‘Company‘ or ‘Lahontan‘) is pleased to announce that it has mobilized a Super 90 track-mounted core drill rig to the Company’s flagship Santa Fe Mine Project located in Nevada’s prolific Walker Lane. The core drilling is part of the Company’s ongoing mine development program, focusing on collecting core samples for waste rock geochemical characterization as part of the State level mine permitting process. The drill holes will also be used to further define the distribution of ground water in the area of proposed open pit mining, another key component of the permitting process.

Kimberly Ann, Lahontan Executive Chair, President, CEO, and Founder commented: ‘Lahontan is excited to take this important next step in the permitting process for the resumption of open pit mining and heap leach processing at Santa Fe. By mobilizing drilling equipment early in 2026, we expect to get both the hydrologic data and waste rock geochemical data needed to keep the Company on track for breaking ground at Santa Fe in 2027.’

About Lahontan Gold Corp.

Lahontan Gold Corp. is a Canadian mine development and mineral exploration company that holds, through its US subsidiaries, four gold and silver exploration properties in the Walker Lane of mining friendly Nevada. Lahontan’s flagship property, the 28.3 km² Santa Fe Mine project, had past production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing. The Santa Fe Mine has a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq(48,393,000 tonnes grading 0.92 g/t Au and 7.18 g/t Ag, together grading 0.99 g/t Au Eq) and an Inferred Mineral Resource of 411,000 oz Au Eq (16,760,000 grading 0.74 g/t Au and 3.25 g/t Ag, together grading 0.76 g/t Au Eq), all pit constrained (Au Eq is inclusive of recovery, please see Santa Fe Project Technical Report and note below*). The Company plans to continue advancing the Santa Fe Mine project towards production, update the Santa Fe Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025. For more information, please visit our website: www.lahontangoldcorp.com

* Please see the ‘Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project’, Authors: Kenji Umeno, P. Eng., Thomas Dyer, PE, Kyle Murphy, PE, Trevor Rabb, P. Geo, Darcy Baker, PhD, P. Geo., and John M. Young, SME-RM; Effective Date: December 10, 2024, Report Date: January 24, 2025. The Technical Report is available on the Company’s website and SEDAR+. Mineral resources are reported using a cut-off grade of 0.15 g/t AuEq for oxide resources and 0.60 g/t AuEq for non-oxide resources. AuEq for the purpose of cut-off grade and reporting the Mineral Resources is based on the following assumptions gold price of US$1,950/oz gold, silver price of US$23.50/oz silver, and oxide gold recoveries ranging from 28% to 79%, oxide silver recoveries ranging from 8% to 30%, and non-oxide gold and silver recoveries of 71%.

Qualified Person

Brian J. Maher, M.Sc., CPG-12342, is a ‘Qualified Person’ as defined under Canadian National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has reviewed and approved the content of this news release in respect of all technical disclosure other than the Mineral Resource Estimate as noted above.‎ Mr. Maher is Vice President-Exploration for Lahontan Gold and has verified the data disclosed in this news release, including the sampling, ‎‎analytical and test data underlying the disclosure.

On behalf of the Board of Directors

Kimberly Ann
Founder, CEO, President, and Director

FOR FURTHER INFORMATION, PLEASE CONTACT:

Lahontan Gold Corp.
Kimberly Ann
Founder, Chief Executive Officer, President, Director
Phone: 1-530-414-4400
Email: Kimberly.ann@lahontangoldcorp.com
Website: www.lahontangoldcorp.com

Cautionary Note Regarding Forward-Looking Statements:

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Except for statements of historical fact, this news release contains certain ‘forward-looking information’ within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as ‘plan’, ‘expect’, ‘project’, ‘intend’, ‘believe’, ‘anticipate’, ‘estimate’ and other similar words, or statements that certain events or conditions ‘may’ or ‘will’ occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which filings are available at www.sedar.com

SOURCE: Lahontan Gold Corp.

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Terra Clean Energy Corp. Announces Agreement to Earn 100% Interest in The Prospector Freedom Mines Project in Marysvale, Utah, United States

January 26, 2026 No Comments

Terra Clean Energy CORP. (‘Terra’ or the ‘Company’) (CSE: TCEC,OTC:TCEFF, OTCQB: TCEFF, FSE: 9O0), is pleased to announce terms to acquire up to a 100% interest in the Freedom & Prospector Mines Project consisting of 6 Bureau of Land Management (‘BLM’) unpatented Lode Mining Claims on 39.5 Ha covering historic uranium mines (Prospector 1 Mine, Prospector 4 Mine, Buddy Mine, Lucky Strike).

Transaction Highlights

4 Past Producing Uranium Mines covered on the Claims and surrounding area having produced over 1.33M lbs U₃O₈ at reported average grades of .22% U₃O₈ *
Close Proximity to major roads with good year around access, power and a uranium mill located in Blandings, Utah
Uranium recently added to U.S. List of Critical Minerals fast tracking permitting, regulatory policies as well as making eligibility for federal funding, loans and government grants easier
Strong Government support for nuclear power and uranium mining projects and a stated objective to reduce reliance on foreign nuclear fuel
Staged earn-in allows the company to optimize exploration programs
Provides Terra shareholders exposure to three North American assets both with near surface uranium opportunities in low-risk jurisdictions

Greg Cameron stated ‘The opportunity here is you have an historic uranium district that was never systematically drilled and after decades it will finally get modern mining technology’. ‘It is clear from the moment you arrive you are in a uranium district with many old workings, adits, shafts and old infrastructure. I am excited to see work begin and believe there to be a clear path to add significant value for our shareholders.’

Rationale Behind the Acquisition

The Freedom and Prospector Mines produced from 1949 through to 1969, historical production from the Marysvale district recorded over 1.33M lbs U₃O₈ with over 75% of that coming from these mines. The mines in the area were initially mined individually as deep as 700-900 feet, however by the mid 1950’s the Prospector 1, Prospector 4, VCA Shaft, Freedom 1, and Freedom 2 Mines were all joined by underground drifts and worked as one operation. Drilling in 1970s confirmed the ore continued down at least another 600 feet which we plan to confirm via step out drilling. It is important to note that the encompassing claims have a production history, in ideal locations, situated near main roads, secondary roads and have access to power and water sources. In December The Trump Administration added uranium to the critical minerals list with a view to attract capital to uranium projects.

‘This project offers significant upside as it is clear that these old mines were abandoned in the 1970’s due to a uranium market collapse not because they ran out of uranium to mine,’ stated Greg Cameron, CEO of Terra. ‘We believe strongly that we can expand on the previous work through modern exploration technologies like 3D modelling’ added Trevor Perkins VP Exploration.

Project Overview

The Prospector and Freedom Mines Project consists of 6 contiguous claims covering 39.5 Ha in Piute County, Utah. The property is located adjacent to the Fishlake National Forest, approximately 5.25 km northeast of the village of Marysvale. A network of gravel roads allow easy year-round access to the property.

Uranium in the area was discovered in 1948 and mining commenced in 1949 by Vanadium Corporation of America (VCA). Over the next few years they consolidated various claims and operations in the area. Production ceased in the Marysvale area in 1969. Some exploration drilling was undertaken in the area in the late 1970’s.

The Marysvale District hosts nearly vertical, northeast and east striking fissure veins that cut granitic and volcanic rocks of the Belknap volcanic sequence and is a prime example of an epithermal vein-style uranium system. Ore is located within the north-northwesterly striking, near vertical, Prospector Fault (Figure 3). The primary ore minerals are uraninite, coffinite, jordisite, and umohoite.

Terra’s VP Exploration visited the property in late 2025. Preliminary research indicates that there is still significant ore in the ground and the property has good resource potential. All available mining and production data for the property should be acquired and digitized. Air and ground based radiometric surveys and trenching of anomalies will aid in developing an updated structural model for the area to allow efficient drilling and modeling of the remaining mineralization.

Figure 1: Location Map of the Prospector and Freedom Mines Project in Utah, USA.

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Figure 2: Claim Map of the Prospector and Freedom Mines Project near Marysvale, Utah.

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Figure 3: Map of Vanadium Corporation of America workings, 1959.

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Figure 4: Prospector 1 surface workings with capped shaft in center of picture. Looking east.
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Transaction Overview

To earn its respective interests in Freedom and Prospector Claims, the Company would be required to make the following cash payments, common share issuances and incur exploration expenditures on the respective claims as follows:

	Cash Payment	Share Issuance	Exploration Expenditures
To earn a 20% interest	USD$67,500 on execution of definitive agreement	750,000 common shares within five business days of the execution of definitive agreement	Incur USD$150,000 in expenditures on or before the 1^st year anniversary of the execution of definitive agreement
To earn a 40% interest	Additional USD$50,000 on or before the 1^st year anniversary of the execution of definitive agreement	Additional 750,000 common shares on or before the 1^st year anniversary of the execution of definitive agreement	Incur additional USD$150,000 in expenditures on or before the 2^nd year anniversary of the execution of definitive agreement
To earn a 60% interest	Additional USD$75,000 on or before the 2^nd year anniversary of the execution of definitive agreement	Additional 750,000 common shares on or before the 2^nd year anniversary of the execution of definitive agreement	Incur additional USD$200,000 in expenditures on or before the 3^rd year anniversary of the execution of definitive agreement
To earn an 80% interest	Additional USD$100,000 on or before the 3^rd year anniversary of the execution of definitive agreement	Additional 750,000 common shares on or before the 3^rd year anniversary of the execution of definitive agreement	Incur additional USD$200,000 in expenditures on or before the 4^th year anniversary of the execution of definitive agreement
To earn a 100% interest	Additional USD$125,000 on or before the 4^th year anniversary of the execution of definitive agreement	Additional 750,000 common shares on or before the 4^th year anniversary of the execution of definitive agreement	Incur additional USD$250,000 in expenditures on or before the 5^th year anniversary of the execution of definitive agreement

** Subject to the retention by the Vendors of a two percent (2%) net royalty on the Freedom Prospector Claims (the ‘F&P Royalty‘), with Terra Clean having the option to purchase fifty percent (50%) of the F&P Royalty at any time by making a total cash payment to the Vendors in the amount of USD$500,000.

The agreements to acquire an interest in The Freedom & Prospector Claims remains subject to the receipt of all regulatory approvals, including the approval of the Canadian Securities Exchange.

All securities issued in connection with these agreements would be subject to a four-month plus one day hold period from the date of issuance in accordance with applicable securities laws.

Marketing Agreements

The Company has entered into an agreement with Ares Capital Markets Group Inc. (‘Ares’) on January 20, 2026 pursuant to which Ares will perform marketing, advertising and public awareness activities for the Company. Ares will provide digital marketing services including email alerts, social media and related distribution. The services will be conducted in accordance with the applicable policies of the Canadian Securities Exchange.

Ares has been engaged by the Company for a 3-month period commencing immediately. In consideration for the services provided, the Company has paid Ares US$100,000 in an upfront payment.

Ares Capital Markets Group Inc. is based out of Delray Beach, Florida. Ares is arm’s length to the Company and has no relationship with the Company and neither Ares nor its principal, Rodney Raanan, has any interest, directly or indirectly, in the Company or its securities, or any right or intent to acquire such an interest other than as disclosed herein. Ares can be contacted at Rodney@arescmg.com, phone number of 516-369-4855 or at 6151 Via Venetia N, Delray Beach, Florida, 33484.

The Company has entered into an agreement with Aktien Check (‘Aktien’) on January 20, 2026 pursuant to which Aktien will perform the marketing, advertising and public awareness activities for the Company in Europe.

Aktien has been retained by the Company for a one-month period commencing immediately. In consideration for the services provided, the Company has paid Aktien 25,000 Euros in an upfront payment.

Aktien is based in Germany and is arm’s length to the Company and has no relationship with the Company and neither Aktien nor its principal, Stefan Lindam, has any interest, directly or indirectly, in the Company or its securities, or any right or intent to acquire such an interest other than as disclosed herein. Aktien can be contacted at stefan.lindam@aktiencheck.de, phone number of +49 2651 9890020 or at Bahnhofstrabe 6, 54670 Bad Marienberg, Germany.

About Terra Clean Energy Corp.

Terra Clean Energy is a Canadian-based uranium exploration and development company. The Company is currently developing the South Falcon East uranium project within the Fraser Lakes B Uranium Deposit, located in the Athabasca Basin region, Saskatchewan, Canada as well as developing past producing Uranium mines Utah and uranium exploration properties in Wyoming, United States.

ON BEHALF OF THE BOARD OF Terra Clean Energy CORP.

‘Greg Cameron’
Greg Cameron, CEO

Qualified Person

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101, reviewed and approved on behalf of the company by C. Trevor Perkins, P.Geo., the Company’s Vice President, Exploration, and a Qualified Person as defined by National Instrument 43-101.

*The historical results, production, and interpretation described here in have not been verified and are extracted from US Geological Survey reports. The Company has not completed sufficient work to confirm and validate any of the historical data contained in this news release. The historical work does not meet NI 43-101 standards. The Company considers the historical work a reliable indication of the potential of the San Rafael Swell and the information may be of assistance to readers. Information collected during a site visit in September 2025 was collected using an RS-225 ‘Super-Spec’ Spectrometer manufactured, inspected and calibrated in 2025.

Gruner, J.W., Fetzer, W.G., and Rapaport, I., 1951, The Uranium Deposits near Marysvale, Piute County, Utah, Economic Geology Vol 46 No 3, pp. 243-251.

Steven, T.A., Cunningham, C. G., Naeser, C.W., and Mehnert, H.H., 1979, Revised stratigraphy and radiometric ages of volcanic rocks in the Marysvale area, west-central Utah: U.S. Geological Survey Bulletin 1469, 40 p.

Forward-Looking Information

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as ‘plan’, ‘expect’, ‘project’, ‘intend’, ‘believe’, ‘anticipate’, ‘estimate’ and other similar words, or statements that certain events or conditions ‘may’ or ‘will’ occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information, including statements regarding the potential development of mineral resources and mineral reserves which may or may not occur. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and general economic and political conditions. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary approvals, including governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, other than as required by applicable laws. For more information on the risks, uncertainties and assumptions that could cause our actual results to differ from current expectations, please refer to the Company’s public filings available under the Company’s profile at www.sedarplus.ca.

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

For further information please contact:

Greg Cameron, CEO
info@tcec.energy

Terra Clean Energy Corp
Suite 303, 750 West Pender Street
Vancouver, BC V6C 2T7
https://www.tcec.energy/

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Homeland Nickel Announces the Appointment of Jordan Black as Corporate Secretary

January 26, 2026 No Comments

(TheNewswire)

Toronto, Ontario TheNewswire – January 26, 2026 Homeland Nickel Inc. (‘Homeland’ or the ‘Company’) (TSX-V: SHL, OTC: SRCGF), is pleased to announce the appointment of Jordan Black, P. Eng., as Corporate Secretary of the Company after the resignation of Errol Farr, CPA effective today.

Jordan is a Senior Geotechnical Engineer and entrepreneur with experience across mining, engineering and technology sectors. He currently serves as Chief Executive Officer and Director of Ramp Metals Inc. Ramp Metals is a grassroots exploration company with a focus on a new gold and copper district in Saskatchewan, Canada. Previously, he was Geotechnical Team Lead (and Senior Geotechnical Engineer) at WSP Canada, where he focused on mining projects and innovation. WSP operates globally across more than 40 countries with around 78,000 people worldwide and reported revenue of ~14 billion USD in 2025. He also served as Vice President of Business Development at GoldSpot Discoveries Inc. GoldSpot is a technology company that leverages artificial intelligence to reduce capital risk while working on increasing success rates in resource exploration.

Errol Farr commented ‘It is with a heavy heart that I announced my resignation to the board of directors yesterday. I came on board just over 2 years ago and it has been an absolute pleasure to serve the Company. In the last year I have taken on the role of CEO for two other public companies and I am required to dedicate more time to those affairs. With the enormous success of Homeland recently, it has hastened the need to have my duties assumed by people that can focus on driving Homeland forward. I would like to thank Steve Balch, CEO, Ashley Nadon, CFO and the board of directors for providing me with this great opportunity. I wish all the shareholders of Homeland the greatest of success in building the greatest nickel story ever.’

Steve Balch commented ‘It’s been a great 2 years with Errol as our Corporate Secretary, and we wish him well in his new CEO roles. We also welcome Jordan Black aboard who will make an excellent fit with Homeland going forward’.

In connection with the appointment Jordan Black has been granted 500,000 stock options exercisable at $0.47 expiring January 26, 2029.

This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company’s control that may cause actual results or performance to differ materially from those currently anticipated in such statements.

Neither the 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.

FOR FURTHER INFORMATION PLEASE CONTACT:

Stephen Balch, President & CEO

Phone: 905-407-9586

Email: steve@beci.ca

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What Was the Highest Price for Silver?

January 26, 2026 No Comments

Like its sister metal gold, silver has been attracting renewed attention as a safe-haven asset.

Although silver continues to exhibit its hallmark volatility, a silver bull market is well underway.

Experts are optimistic about the future, and as the silver price’s momentum continues in 2026, investors are looking for price forecasts and asking, “What was the highest price for silver?”

The answer reveals how much potential there is for the silver price to rise.

Read on for a look at silver’s historical moves, its new all-time high price and what they could mean for both the price of silver today and the white metal’s price in the future.

How is silver traded?

Before discovering what the highest silver price was, it’s worth looking at how the precious metal is traded. Knowing the mechanics can be useful in understanding why and how its price changes on a day-to-day basis and beyond.

Silver bullion is traded in dollars and cents per ounce, with market activity taking place worldwide at all hours, resulting in a live silver price. Key commodities markets like New York, London and Hong Kong are just a few locations where investors trade the metal. London is seen as the center of physical silver trade, while the COMEX division of the CME Group’s (NASDAQ:CME) New York Mercantile Exchange, called the NYMEX, is where most paper trading is done.

There are two popular ways to invest in silver. The first is through purchasing silver bullion products such as bullion bars, bullion coins and silver rounds. Physical silver is sold on the spot market, meaning that to invest in silver this way, buyers pay a specific price for the metal — the silver price per ounce — and then have it delivered immediately.

The second is accomplished through paper trading, which is done via the silver futures market, with participants entering into futures contracts for the delivery of silver at an agreed-upon price and time. In such contracts, two positions can be taken: a long position to accept delivery of the metal or a short position to provide delivery.

Paper trading might sound like a strange way to get silver exposure, but it can provide investors with flexibility that they wouldn’t get from buying and selling bullion. The most obvious advantage is perhaps the fact that trading in the paper market means silver investors can benefit long term from holding silver without needing to store it. Furthermore, futures trading can offer more financial leverage in that it requires less capital than trading in the physical market.

Market participants can also invest in silver through exchange-traded funds (ETFs). Investing in a silver ETF is similar to trading a stock on an exchange, and there are several silver ETFs to choose from. Some ETFs focus on physical silver bullion, while others focus on silver futures contracts. Still others focus on silver stocks or follow the live silver price.

What is silver’s all-time high price?

The silver all-time high was US$101.31, which it set on January 23, 2026.

The silver price has continued its rally into 2026 following a 2025 that saw the white metal finally break its previous highest price and gain more than 190 percent at its highest point.

Silver’s strong performance has been driven by a variety of factors, including widespread geopolitical uncertainty, a weak US dollar, speculation around US Federal Reserve interest rate cuts and increased investor interest. We break down the news driving its price performance and new highs in the section below.

Prior to October 9, 2025, the white metal’s all-time high had been the same for 45 years — silver’s former all-time high was US$49.95, and it was set on January 17, 1980.

It’s worth unpacking what happened, because the price didn’t exactly reach that level by honest means.

As Britannica explains, two wealthy traders called the Hunt brothers attempted to corner the market by buying not only physical silver, but also silver futures — they took delivery of those silver futures contracts instead of taking legal tender in the form cash settlements. Their exploits ultimately ended in disaster: On March 27, 1980, they missed a margin call and the silver market price plunged to US$10.80. This day is infamously known as Silver Thursday.

That record silver price wouldn’t be tested again until April 2011, when it reached US$47.94. This was more than triple the 2009 average silver price of US$14.67, with the price uptick coming on the back of very strong investment demand.

So what happens next? While silver has officially broken its 1980 peak, it is still well below that price point adjusted for inflation, but its rise above US$71 has officially topped its inflation-adjusted peak from 2011.

It remains to be seen just how high silver can go.

Silver’s price performance in 2025 and 2026

Silver price chart, January 23, 2025 to January 23, 2026.

Silver price chart, January 23, 2025 to January 23, 2026.

The silver price experienced a momentum shift at the start of 2025, breaking through the US$30 barrier as early as January 5, and reaching US$31.31 by January 29. The metal continued to post gains through much of February and March, climbing to US$32.94 on February 20 and then peaking at its quarterly high of US$34.21 on March 28.

Following Trump’s tariff announcements on April 2, silver slumped to below US$30. While the Trump administration’s tariff policies have been largely beneficial for safe-haven assets like precious metals, there were concerns that the threat of tariffs could weaken industrial demand, which could cool price gains in the silver market.

Yet those concerns were pushed to the back burner as recent economic and geopolitical events have raised analysts’ expectations of a September rate cut by the Fed. The benchmark rate has not changed since November 2024.

On June 5, the silver price rose to a 13 year high of US$36.05 in early morning trading, before retreating toward the US$35.50 mark. By June 16, the white metal had broken through the US$37 mark for the first time since May 2011.

In July, increasing geopolitical strife in the Middle East and Russia-Ukraine coupled with a positive outlook for China’s solar power industry proved price positive for both silver’s precious metals and industrial angles.

The silver price overtook the US$39 level to reach US$39.24 on July 22.

These same forces, coupled with the nearly unanimous rate cut expectations, launched the price of silver to over US$40 on August 31 for the first time since 2011, and by September 3 it had climbed as high as US$41.45. Silver continued climbing through September, progressively breaking level after level to top US$47 by the month’s end.

The white metal broke its all-time highs in most currencies, including Canadian dollars and Australian dollars, on September 22. Silver started Q4 by continuing its ascent, breaking through its 2011 peak and topping US$48 on October 3, before climbing above US$51 to beat its US dollar high on October 9.

It continued climbing even higher on the safe-haven demand fundamentals behind its 2025 momentum. Helping drive that demand in October was escalating trade tensions between the US and China, leading to export controls on additional rare earth metals by China and threats of 100 percent tariffs on Chinese imports by the US.

While silver pulled back to around US$48 in late October, news that the US government shut down had come to an end on November 9 drove the silver price back above US$50.

Silver’s foray above the US$56 level on November 28 came on the back of an outage at the Comex, where trading was briefly halted due to a ‘cooling issue’ at a CyrusOne data center used by the exchange.

Silver continued even higher through early December, and on December 10 it broke above US$60 for the first time, alongside the Fed deciding to once again cut interest rates. Less than two weeks after breaking US$60, the silver price passed US$70 on December 23 as investors continued piling in and the situation between the US and Venezuela ramped up. On December 28, silver started the week by breaching US$83 on surging interest in China.

To start the final week of December, silver broke through US$80 and hit a 2025 peak of US$83.90 on December 28. However, over the following day, silver and its fellow precious metals pulled back significantly.

2026 has just begun, but it’s already brought a slew of positive price drivers for silver. Geopolitical concerns remain front and center, and US-global relations were a significant talking point as leaders from global governments and businesses met in mid-January at the World Economic Forum in Davos, Switzerland.

Trump’s push to take control of Greenland has added pressure between the US and Europe in recent weeks. He threatened to add tariffs on eight of the European countries that opposed the move, but changed his tune at the World Economic Forum on January 21, saying he would not use force to take Greenland and backing down on tariffs.

A significant silver surge from US$80 on January 12 to over US$93 by January 14 came in the days after the US Department of Justice launching a criminal probe into Fed Chair Jerome Powell.

Powell said the threat of charges is a consequence of the Fed not lowering rates as quickly as the Trump administration prefers, and instead setting them based on evidence and economic conditions.

News on January 22 that Trump is suing JPMorgan Chase (NYSE:JPM) and its CEO Jamie Dimon also ramped up market tension. The lawsuit alleges that the firm closed accounts belonging to Trump and related entities in early 2021 for political reasons, with Trump saying that Dimon ‘debanked’ him.

Silver supply and demand dynamics

Like the prices of other metals, the silver spot price is most heavily influenced by supply and demand dynamics. However, as the information above illustrates, the silver price can be highly volatile. That’s partially due to the fact that the metal is subject to both investment and industrial metal demand within global markets.

In other words, it’s bought by investors who want it as a store of wealth, as well as by manufacturers looking to use it for different applications that are incredibly varied. For example, silver has diverse technological applications such as batteries, solar panels, microchips and catalysts, but it’s also used in medicine and in the automotive industry.

In terms of supply, the world’s three top producers of the metal are Mexico, China and Peru. Even in those countries silver is usually a by-product — for instance, a mine producing primarily gold or lead might also have silver output.

The Silver Institute’s latest World Silver Survey, put together by Metals Focus, outlines a 0.9 percent increase in global mine production to 819.7 million ounces in 2024. This was in partly the result of a return to operations at Newmont’s (TSX:NGT,NYSE:NEM,ASX:NEM) Peñasquito mine in Mexico following a suspension of activity brought about by strike action among workers and improved recoveries out of Fresnillo (LSE:FRES,OTC Pink:FNLPF) and MAG Silver’s (TSX:MAG,NYSEAMERICAN:MAG) Juanicipio. Silver output also increased in Australia, Bolivia and the US.

The firm is forecasting a 1.9 percent rise in global silver mine production to 823 million ounces in 2025. Much of that growth is expected to come out of Mexico, and it is also projecting output will rise in Chile and Russia. Lower production from Australia and Peru will offset some of these gains.

Looking at demand, Metals Focus sees growth in 2025 flatlining as industrial fabrication takes a hit from the global tariff war. This could be tempered by an anticipated rebound in demand from physical investment in silver bars and coins.

The silver market is expected to experience a substantial deficit of 117.6 million ounces in 2025, amounting to the sixth straight year of supply shortage for the metal.

Is the silver price manipulated?

As a final note on silver, it’s important for investors to be aware that manipulation of prices is a major issue in the space.

For instance, in 2015, 10 banks were hit in a US probe on precious metals manipulation. Evidence provided by Deutsche Bank (NYSE:DB) showed “smoking gun” proof that UBS Group (NYSE:UBS), HSBC Holdings (NYSE:HSBC), the The Bank of Nova Scotia (TSX:BNS) and other firms were involved in rigging silver rates from 2007 to 2013. In May 2023, a silver manipulation lawsuit filed in 2014 against HSBC and the Bank of Nova Scotia was dismissed by a US court.

JPMorgan Chase & Co. (NYSE:JPM) has been long at the center of silver manipulation claims as well. For years the firm has been in and out of court for the accusations. In 2020, JPMorgan agreed to pay US$920 million to resolve federal agency probes regarding the manipulation of multiple markets, including precious metals.

In 2014, the London Silver Market Fixing stopped administering the London silver fix, which had been used for over a century to fix the price of silver. It was replaced by the LBMA Silver Price, which is run by ICE Benchmark Administration, in a bid to increase market transparency.

Market watchers like Ed Steer have said that the days of silver manipulation are numbered, and that the market will see a significant shift when the time finally comes.

Investor takeaway

Silver’s new all-time highs have brought the metal into uncharted territory, and as momentum continues for the silver price in 2026 investors are wondering how high it could go.

It is worth keeping in mind that silver has yet to break its inflation-adjusted high; considering its previous peaks can offer investors a look into how silver’s gains in 1980 and 2011 stack up to its run in 2025 and 2026.

While it’s impossible to know for sure what’s next for silver, keeping an eye on the factors driving its performance, including gold’s performance, geopolitics, the economy and industrial demand, will help investors make decisions on when to buy and sell.

Securities Disclosure: I, Lauren Kelly, currently hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

In Investing

What Was the Highest Price for Gold?

January 26, 2026 No Comments

Gold has long been considered a store of wealth, and the price of gold often makes its biggest gains during turbulent times as investors look for cover in this safe-haven asset.

The 21st century has so far been heavily marked by episodes of economic and sociopolitical upheaval. Uncertainty has pushed the precious metal to record highs as market participants seek its perceived security.

And each time the gold price rises, there are calls for even higher record-breaking levels.

Gold market gurus from Lynette Zang to Chris Blasi to Jordan Roy-Byrne have shared eye-popping predictions on the gold price that would intrigue any investor — gold bug or not.

Some have posited that the gold price may rise as high as US$5,000 per ounce, and there are those who believe that US$10,000 gold or even US$40,000 gold could become a reality.

These impressive price predictions have investors wondering, what is gold’s all-time high (ATH)?

Gold has reached new all-time highs dozens of times in recent years. Find out what has driven it to these levels, plus how the gold price has moved historically and what has impacted its performance.

How is gold traded?

Before discovering what the highest gold price ever was, it’s worth looking at how the precious metal is traded. Knowing the mechanics behind gold’s historical moves can help illuminate why and how its price changes.

Gold bullion is traded in dollars and cents per ounce, with activity taking place worldwide at all hours, resulting in a live price. Investors trade gold in major commodities markets such as New York, London, Tokyo and Hong Kong.

London is seen as the center of physical precious metals trading, including for silver. The COMEX division of the New York Mercantile Exchange is home to most paper trading.

There are many popular ways to invest in gold. The first is through purchasing gold bullion products such as bullion bars, bullion coins and rounds. Physical gold is sold on the spot market, meaning that buyers pay a specific price per ounce for the metal and then have it delivered or stored in a secure facility. In some parts of the world, such as India, buying gold in the form of jewelry is the largest and most traditional route to investing in gold.

Another path to gold investment is paper trading, which is done through the gold futures market. Participants enter into gold futures contracts for the delivery of gold in the future at an agreed-upon price.

In such contracts, two positions can be taken: a long position under which delivery of the metal is accepted or a short position to provide delivery of the metal. Paper trading as a means to invest in gold can provide investors with the flexibility to liquidate assets that aren’t available to those who possess physical gold bullion.

One significant long-term advantage of trading in the paper market is that investors can benefit from gold’s safe-haven status without needing to store it. Furthermore, gold futures trading can offer more financial leverage in that it requires less capital than trading in the physical market. Investors can also purchase physical gold via the futures market, but the process is complicated and lengthy and comes with a large investment and additional costs.

Aside from those options, market participants can invest in gold through exchange-traded funds (ETFs). Investing in a gold ETF is similar to trading a gold stock on an exchange, and there are numerous gold ETF options to choose from depending on your preference. For instance, some ETFs focus solely on physical gold bullion, while others focus on gold futures contracts. Other gold ETFs center on gold-mining stocks or follow the gold spot price.

It is important to understand that you will not own any physical gold when investing in an ETF — in general, even a gold ETF that tracks physical gold cannot be redeemed for tangible metal.

Gold has an interesting relationship with the stock market. The two often move in sync during “risk-on periods” when investors are bullish. On the flip side, they tend to become inversely correlated in times of volatility.

According to the World Gold Council, gold’s ability to decouple from the stock market during periods of stress makes it “unique amongst most hedges in the marketplace.” It is often during these times that gold outperforms the stock market. For that reason, it is often used as a portfolio diversifier to hedge against uncertainty.

There are a variety of options for investing in gold stocks, including gold-mining stocks on the TSX and ASX, gold juniors, precious metals royalty companies and gold stocks that pay dividends.

What was the highest gold price ever?

The gold price peaked at US$4,924.29, its all-time high, on January 22, 2026.

What drove it to this new ATH? Gold reached its new highest price on January 22 alongside dips in the US dollar, geopolitical tensions and the start of testimony from Jack Smith, who took over the investigation of Donald Trump’s attempt to overturn the 2020 election, including the events of January 6, 2021.

Smith told the US House Judiciary Committee Thursday that his investigation came to a conclusion, without reasonable doubt, that Trump ‘engaged in criminal activity.’ However, Trump then winning the 2024 election meant he could not be prosecuted due to being a sitting president.

It also comes at a time when many of the world’s political leaders and businesspeople are meeting in Davos, Switzerland, for the World Economic Forum, with the US’s moves under the Trump administration a major talking point at the conference.

Tensions are currently high between Europe and the US because of Trump’s goal of taking control of Greenland from Denmark, one of the US’s allies in NATO. Trump announced additional 10 percent tariffs on eight of the European countries opposing the move, but backed down on them on January 21.

The new gold peak is part of a bull run in precious metals that has also been driven in part by US economic uncertainty, a falling US dollar and strong investor interest in the safe haven metals.

Other factors supporting gold include central bank gold buying, increased gold ETF inflows and news surrounding the US Federal Reserve’s interest rate decisions.

Notably, on September 7, gold’s record-breaking run officially took it past its inflation adjusted all-time high of US$850 per ounce set in January 1980.

One year gold price chart

u200bOne year gold price chart, January 21, 2025, to January 21, 2026.

One year gold price chart, January 21, 2025, to January 21, 2026.

Why did the gold price climb in 2025?

Increased economic and geopolitical turmoil caused by the Trump administration has been a tailwind for gold, as well as a weakening US dollar, sticky inflation in the country and increased safe-haven gold demand.

Since coming into office in late January, US President Donald Trump threatened or enacted tariffs on many countries, including blanket tariffs on longtime US allies Canada and Mexico and tariffs on the EU. Trump also implemented 25 percent tariffs on all steel and aluminum imports.

Gold first broke through the US$3,000 per ounce level in mid-March, and continued gaining into Q2. The gold price set a string of new highs in the month of April amid high market volatility as markets reacted to tariff decisions from Trump, including the ‘Liberation Day’ tariffs announced April 2, and the escalating trade war between the US and China.

By April 11, Trump had raised US tariffs on Chinese imports to 145 percent and China had raised its tariffs on US products to 125 percent. Trump has reiterated that the US may need to go through a period of economic pain to enter a new ‘golden age’ of economic prosperity.

Falling markets during this time and a declining US dollar also supported gold, as did increased buying from China. Elon Musk’s call to audit the gold holdings in Fort Knox brought further attention to the yellow metal.

Gold spent the remainder of Q2 and early Q3 range-bound below US$3,500, before a variety of factors supported gold to more than 10 new highs in September. We break them down in detail in our Q3 2025 gold update, but some highlights are below.

News and speculation around the September US Federal Reserve meeting supported the gold price in September, with rate cut expectations heavily fueled by the release of US consumer price index data, as well as weaker than expected US jobs numbers. The Fed ultimately announced the widely anticipated interest rate reduction of 25 basis points on September 17.

Highs in mid-September were also supported by the US dollar index falling to a year-to-date low 96.56 on September 16, continuing a downtrend that started in mid-January. Traditionally, gold trades higher when the US dollar is weak, making it a popular hedge.

On September 23, Bloomberg reported that the People’s Bank of China is looking to become a custodian of foreign gold reserves at its central bank in Beijing, meaning other nations could buy gold and store it in China. Nations such as the UK and US also serve as custodians for foreign nations’ gold reserves.

Gold price highs in October were driven by inflows into gold ETFs, central bank purchasing and continued economic turmoil.

Internationally, political turmoil also drove the gold price. In early October, the latest French prime minister resigned after less than a month in office, and Japan’s ruling Liberal Democratic Party chose hardline conservative Sanae Takaichi as party leader. She plans to cut taxes and increase subsidies, as well as honor an investment deal with US President Donald Trump to lower tariffs.

Additionally, the People’s Bank of China reported it purchased 1.24 metric tons of gold in September, adding gold to its reserves for the 11th month in a row. Central bank gold purchases have been a major driver of the gold price in recent years, and China’s central bank has been the largest purchaser in that time frame.

In early October, the gold price began climbing significantly as the trade war between the US and China worsened. China expanded its rare earth element export restrictions on October 9 in response to US government calls for broader bans on equipment sales to Chinese chip-makers.

After markets closed the following day, US President Donald Trump responded to the rare earth changes by threatening 100 percent tariffs on goods from China as well as export controls on ‘any and all critical software.’

The gold price spiked to a then-high of US$4,379.13 on October 17, but pulled back to about US$4,000 later in the month, and spent the following weeks testing that level.

However, news that the US government shutdown ended on November 9 led gold to spike to above US$4,100 the following day.

Beginning in late November, after gold spiked it began largely maintaining its new levels through the week. By the middle of the month it had again breached US$4,300, this time following the US Federal Reserve’s decision to cut rates at the final meeting of 2025.

Gold again spiked to start the week on December 22, which brought it above US$4,400, and it continued upwards to a 2025 peak of US$4,549.74 on December 26.

Gold’s price movements in 2026

Gold is continuing its upward trajectory into 2026 as tensions ramp up globally and within the US.

To start the year, on January 3 the US launched a strike on Venezuela and captured the country’s leader Nicolás Maduro and his wife Cilia Flores. The pair are on trial in New York for drug-related charges, including ‘narco-terrorism.’ Trump has since announced that the US will develop the country’s oil industry.

On January 9, the US Department of Justice opened a criminal investigation into Jerome Powell, chair of the US Federal Reserve. The official reason given for the investigation is related to the cost of a renovation project for historic Federal Reserve buildings.

In a video response on Sunday, January 11, Powell stated, ‘The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President.’

The gold price first broke through US$6,600 the next day.

Additionally, in Iran, the government is responding to widespread protests against the regime with deadly violence, killing thousands of protestors. The US weighed military intervention to help the people of Iran but has not intervened as of January 19.

Gold price history: Gold’s performance since 2019

Despite these recent runs, gold has seen its share of both peaks and troughs over the last decade. After remaining rangebound between US$1,100 and US$1,300 from 2014 to early 2019, gold pushed above US$1,500 in the second half of 2019 on a softer US dollar, rising geopolitical issues and a slowdown in economic growth.

Gold’s first breach of the significant US$2,000 price level in mid-2020 was due in large part to economic uncertainty caused by the COVID-19 pandemic. To break through that barrier and reach what was then a record high, the yellow metal added more than US$500, or 32 percent, to its value in the first eight months of 2020.

The gold price surpassed that level again in early 2022 as Russia’s invasion of Ukraine collided with rising inflation around the world, increasing the allure of safe-haven assets and pulling the yellow metal up to a price of US$2,074.60 on March 8. However, it fell throughout the rest of 2022, dropping below US$1,650 in October.

Although it didn’t quite reach the level of volatility as the previous year, the gold price experienced drastic price changes in 2023 on the back of banking instability, high interest rates and the breakout of war in the Middle East.

After central bank buying pushed the gold price up to the US$1,950.17 mark by the end of January, the Fed’s 0.25 percent rate hike on February 1 sparked a retreat as the dollar and treasury yields saw gains. The precious metal went on to fall to its lowest price level of the year at US$1,809.87 on February 23.

The banking crisis that hit the US in early March caused a domino effect through the global financial system and led to the mid-March collapse of Credit Suisse, Switzerland’s second-largest bank. The gold price had jumped to US$1,989.13 by March 15. The continued fallout in the global banking system throughout the second quarter of the year allowed gold to break above US$2,000 on April 3, and go on to flirt with a near-record high of US$2,049.92 on May 3.

Those gains were tempered by the Fed’s ongoing rate hikes and improvements in the banking sector, resulting in a downward trend in the gold price throughout the remainder of the second quarter and throughout Q3. By October 4, gold had fallen to a low of US$1,820.01 and analysts expected the precious metal to drop below US$1,800.

That was before the October 7 attacks by Hamas on Israel ignited legitimate fears of a much larger conflict erupting in the Middle East. Reacting to those fears, and to rising expectations that the Fed would begin to reverse course on interest rates, gold broke through the important psychological level of US$2,000 and closed at US$2,007.08 on October 27. As the fighting intensified, gold reached a then-new high of US$2,152.30 in intraday trading on December 3.

That robust momentum in the spot gold price continued into 2024, chasing new highs on fears of a looming US recession, the promise of Fed rate cuts on the horizon, the worsening conflict in the Middle East and the tumultuous US presidential election year. By mid-March, gold was pushing up against the US$2,200 level.

That record-setting momentum continued into the second quarter of 2024, when gold broke through US$2,400 in mid-April on strong central bank buying, sovereign debt concerns in China and investors expecting the Fed to start cutting interest rates. The precious metal went on to hit US$2,450.05 on May 20.

Throughout the summer, the hits kept on coming.

The global macro environment was highly bullish for gold leading up to the US election. Following the failed assassination attempt on Trump and a statement about coming rate cuts by Fed Chair Jerome Powell, the gold spot price hit a then new all-time high on July 16 at US$2,469.30. One week later, news that then-President Joe Biden would not seek re-election and would instead pass the baton to Vice President Kamala Harris eased some of the tension in the stock market and strengthened the US dollar. This also pushed the price of gold down to US$2,387.99 on July 22, 2024.

However, the bullish factors supporting gold remained in play, and the spot price for gold went on to breach US$2,500 on August 2 that year on a less-than-stellar US jobs report; it closed just above the US$2,440 level. A few weeks later, gold pushed past US$2,500 once again on August 16, closing above that level for the first time ever after the US Department of Commerce released data showing a fifth consecutive monthly decrease in a row for homebuilding.

The news that the Chinese government issued new gold import quotas to banks in the country following a two month pause also helped fuel the gold price rally. Central bank gold buying has been a significant tailwind for the gold price this year, and China’s central bank has been one of the strongest buyers.

Market watchers expected the Fed to cut interest rates by a quarter point at its September 2024 meeting, but news on September 12 that the regulators were still deciding between the expected cut or a larger half-point cut led the gold price on a rally that carried through into the next day, bringing the metal near US$2,600.

At the September 18 Fed meeting, the committee ultimately made the decision to cut rates by half a point, news that sent gold even higher. By September 20, it had moved above US$2,600 and was holding above US$2,620.

In October 2024, gold first breached the US$2,700 level and continued to higher on a variety of factors, including further rate cuts and economic data anticipation, the escalating conflict in the Middle East between Israel and Hezbollah, and economic stimulus in China — not to mention the very close race between the US presidential candidates.

While the gold price fell following Trump’s win in early November and largely held under US$2,700 through the end of the year, it began trending upward in 2025.

We dive further into gold’s record-setting run and new all-time high in 2026 in the previous sections.

What’s next for the gold price?

What’s next for the gold price is never an easy call to make. There are many factors to consider, but some of the most prevalent long-term drivers include economic expansion, market risk, opportunity cost and momentum.

Economic expansion is one of the primary gold price contributors as it facilitates demand growth in several categories, including jewelry, technology and investment. As the World Gold Council explains, “This is particularly true in developing economies where gold is often used as a luxury item and a means to preserve wealth.”

Market risk is also a prime catalyst for gold values as investors view the precious metal as the “ultimate safe haven,” and a hedge against currency depreciation, inflation and other systemic risks.

Going forward, in addition to the Fed, inflation and geopolitical events, experts will be looking for cues from factors like supply and demand. In terms of supply, the world’s five top gold producers are China, Australia, Russia, Canada and the US. The consensus in the gold market is that major miners have not spent enough on gold exploration in recent years. As for gold mine production, global output fell from around 3,200 to 3,300 metric tons (MT) each year between 2018 and 2020 to around 3,000 to 3,100 MT each year between 2021 and 2022. However, gold production turned around in 2023 and 2024, reaching 3,250 MT and 3,300 MT respectively.

On the demand side, China and India are the biggest buyers of physical gold, and are in a perpetual fight for the title of world’s largest gold consumer. That said, it’s worth noting that the last few years have brought a big rebound in central bank gold buying, which dropped to a record low in 2020, but reached a 55 year high of 1,136 MT in 2022.

World Gold Council data shows 2024 central bank gold purchases came to 1,044.6 metric tons, marking the third year in a row above 1,000 MT. In H1 2025, the organization reported gold purchases from central banks reached 415.1 MT.

In addition to central bank moves, analysts are also watching escalating tensions in the Middle East, a weakening US dollar, declining bond yields and further interest rate cuts as factors that could push gold higher as investors look to secure their portfolios.

“When it comes to outside factors that affect the market, it’s just tailwind after tailwind after tailwind. So I don’t really see the trend changing,” Eric Coffin of Hard Rock Analyst said.

Joe Cavatoni, senior market strategist of the Americas, at the World Gold Council, believes that market risk and uncertainty surrounding tariffs and continued demand from central banks are the main drivers of gold. He’s watching what the money markets are doing as interest rates start to move.

Should you beware of gold price manipulation?

It’s important for investors to be aware that gold price manipulation is a hot topic in the industry.

In 2011, when gold hit what was then a record high, it dropped swiftly in just a few short years. This decline after three years of impressive gains led many in the gold sector to cry foul and point to manipulation.

Early in 2015, 10 banks were hit in a US probe on precious metals manipulation.

Evidence provided by Deutsche Bank (NYSE:DB) showed “smoking gun” proof that UBS Group (NYSE:UBS), HSBC Holdings (NYSE:HSBC), the Bank of Nova Scotia (TSX:BNS,NYSE:BNS and other firms were involved in rigging gold and silver rates in the market from 2007 to 2013. Not long after, the long-running London gold fix was replaced by the LBMA gold price in a bid to increase gold price transparency. The twice-a-day process, operated by the ICE Benchmark Administration, still involves a variety of banks collaborating to set the gold price, but the system is now electronic.

Still, manipulation has by no means been eradicated, as a 2020 fine on JPMorgan Chase & Co. (NYSE:JPM) shows. The next year, chat logs were released in a spoofing trial for two former precious metals traders from the Bank of America’s (NYSE:BAC) Merrill Lynch unit. They show a trader bragging about how easy it is to manipulate the gold price.

Gold market participants have consistently spoken out about manipulation. In mid-2020, Chris Marcus, founder of Arcadia Economics and author of the book “The Big Silver Short,” said that when gold fell back below the US$2,000 mark after hitting close to US$2,070, he saw similarities to what happened with the gold price in 2011.

Marcus has been following the gold and silver markets with a focus specifically on price manipulation for nearly a decade. His advice? “Trust your gut. I believe we’re witnessing the ultimate ’emperor’s really naked’ moment. This isn’t complex financial analysis. Sometimes I think of it as the greatest hypnotic thought experiment in history.”

Investor takeaway

While we have the answer to what the highest gold price ever is as of now, it remains to be seen how high gold can climb, and if the precious metal can reach as high as US$5,000, US$10,000 or even US$40,000.

Even so, many market participants believe gold is a must have in any investment profile, and there is little doubt investors will continue to see gold price action making headlines this year and beyond.

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

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Torrent Capital

January 26, 2026 No Comments

Overview

Torrent Capital (TSXV:TORR) is a publicly traded investment company providing exposure to an actively managed growth portfolio of public and private investments.

Torrent Capital provides investors with access to a sector-agnostic, actively managed portfolio that blends long-term core holdings with income-generating strategies. Our diversified platform spans public equities, private ventures, and royalty investments. This approach is designed to deliver compounded NAV growth.

Portfolio Overview

Public Equities

Torrent’s core public equity holdings include the following:

Kneat (TSX:KSI) – A leader in SaaS solutions for digitising validation and quality processes in regulated industries, including life sciences. Torrent invested early, recognising Kneat’s scalable platform and its potential to transform compliance-heavy sectors globally.

Lemonade (NYSE:LMND) – An insurance technology company that leverages artificial intelligence to automate operations such as claims processing and policy issuance, disrupting the $2 trillion global insurance market.

SentinelOne (NYSE:S) – A global leader in AI-powered cybersecurity. Torrent invested in SentinelOne for its ability to disrupt traditional security solutions and scale rapidly as enterprises adopt automated threat detection and response.

Fortune Bay (TSXV:FOR) – A Canadian gold exploration company with promising assets in Saskatchewan and Mexico. Torrent’s investment reflects our belief in gold’s enduring role as a hedge against market volatility, coupled with Fortune Bay’s potential to unlock significant resource value through exploration success.

Sona Nanotech (CSE:SONA) – Innovator in nanotechnology with applications across healthcare and diagnostics. Torrent’s investment thesis is based on the potential for Sona’s unique gold nanorods to deliver breakthroughs in medical technology, particularly in diagnostics and cancer treatment.

ReeXploration (TSXV:REE) – A rare earth exploration company focused on the Eureka Project in Namibia. Torrent invested in ReeXploration for its strategic exposure to critical minerals essential to clean energy and advanced technologies.

Private Ventures

Torrent selectively invests in early-stage private ventures with high growth potential.

Holding:

OARO Technologies – A cybersecurity and digital identity company delivering advanced blockchain-powered authentication, digital ticketing, and secure credential solutions. Torrent invested in OARO for its ability to meet the growing global demand for secure, scalable identity management, positioning the company at the intersection of cybersecurity and blockchain adoption.

Royalty Investments

Torrent maintains selective exposure to royalty investments designed to generate potential long-term, recurring cash flows.

Key investment:

Argentia Capital – Argentia Capital is focused on the construction of port infrastructure, the provision of services and equity ownership in businesses that support aquaculture, renewable energy, and oil and gas sectors, as well as other port developments.

Company Highlights

Proven Performance Across Market Cycles: NAV grew from ~$0.25 in 2017 to ~$0.87 as of November 30, 2025 (15.84 percent CAGR), Outperforming the S&P500 and TSX Small Cap Index, which increased at rates of 13.13 percent and 7.77 percent respectively.
Diversified Investment Model: Combines public equities, private ventures and royalty investments to balance growth and stability through market cycles.
Active Management and Transparency: Torrent publishes frequent NAV updates and portfolio disclosures, providing clarity that differentiates it from other investment companies.
Proven Leadership: Led by CEO Wade Dawe and a team with over C$2 billion in deals completed, Torrent combines decades of entrepreneurial and capital markets experience across public and private companies.
Strategic focus: Targeted exposure to key growth themes—including artificial intelligence, cybersecurity, and critical minerals—balancing innovation with defensive holdings to produce long-term compounding.

Management Team

Torrent’s leadership is aligned with shareholders and focused on long-term value creation.

Wade Dawe – Chief Executive Officer, Director

Wade Dawe is an Atlantic Canadian entrepreneur and skilled investor. Fiercely independent throughout the entirety of his career, he achieved early success internationally in the resource sector and went on to play a pivotal role in a number of companies as a financier and company founder.

Carl Sheppard – President & Chief Operating Officer, Director

Carl Sheppard is the current president and chief operating officer of Torrent Capital and is also the president and managing partner of Strategic Concepts, a business consulting company. For the past 30 years, he has provided consulting services to many of Canada’s leading resource companies and organizations. He has participated in numerous economic studies, strategic plans, cost/benefit reports and business plans targeted at the identification of development opportunities.

Eric Thompson – Chief Financial Officer

Eric Thompson has over ten years of accounting and assurance experience in both public practice and industry. Prior to assuming the CFO position, he served as the controller of Torrent Capital, contributing to enhanced financial reporting and treasury oversight.

Evan Dawe, CFA – Portfolio Manager – Public Equities

Evan Dawe is a Portfolio Manager at Torrent Capital, focused on identifying high-growth public equity opportunities across U.S. and Canadian markets. He brings a rigorous, fundamentals-driven approach with a strong emphasis on business quality, competitive positioning, and long-term value creation. Evan is a CFA charter holder and holds a Bachelor of Commerce degree from Queen’s University. Prior to Torrent Capital, he served as a Corporate Development Officer at Numus Capital, where he sourced venture capital deal flow and coordinated capital raises for early-stage companies.

Jim Megann – Director

Jim Megann is Managing Director of Numus Financial and serves as a Director of OARO Technologies. He has extensive experience in capital markets, corporate development, and strategic communications, and is the former Chair of NWest Energy.

Carl Hansen – Director

Carl Hansen is CEO of Cascada Silver Corp. and a geologist with more than 30 years of experience in exploration, mining, and public markets. He has led multiple successful exploration companies and has significant experience in corporate finance and capital formation.

Wayne Myles – Director

Wayne Myles is a legal advisor specializing in international mergers and acquisitions, corporate, and commercial law. He provides strategic legal guidance to Torrent’s management and board on governance and cross-border transaction structures.

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In Investing

CORRECTION – Domestic Metals Engages ICP Securities Inc. for Automated Market Making Services and provides further details on the engagement of Michael Pound

January 24, 2026 No Comments

Wording in 3rd paragraph ‘Engagement of Michael Pound’ has been corrected to reflect that Mr. Pound is no longer at arm’s length of the company.

Domestic Metals Corp. (the ‘Company‘ or ‘Domestic‘) – (TSXV: DMCU,OTC:DMCUF; OTCQB: DMCUF; FSE: 03E) announces that it has engaged the services of ICP Securities Inc. (‘ICP‘) to provide automated market making services, including use of its proprietary algorithm, ICP Premium, in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislation. ICP will be paid a monthly fee of C$7,500, plus applicable taxes. The agreement between the Company and ICP was signed with a start date of January 23, 2026 and is for four (4) months (the ‘Initial Term’) and shall be automatically renewed for subsequent one (1) month terms (each month called an ‘Additional Term’) unless either party provides at least thirty (30) days written notice prior to the end of the Initial Term or an Additional Term, as applicable. There are no performance factors contained in the agreement and no stock options or other compensation in connection with the engagement. ICP and its clients may acquire an interest in the securities of the Company in the future.

ICP is an arm’s length party to the Company. ICP’s market making activity will be primarily to correct temporary imbalances in the supply and demand of the Company’s shares. ICP will be responsible for the costs it incurs in buying and selling the Company’s shares, and no third party will be providing funds or securities for the market making activities.

Engagement of Michael Pound

Pursuant to the Company’s news release dated December 11, 2025, the Company provides additional clarification pursuant to Michael Pound’s engagement. The Company added Michael Pound to its Investor Relations team. Michael has over 30 years of Market experience and also holds a wealth of knowledge including an extensive network within the small cap community. Mr. Pound will be focused on investor outreach to that community and provide shareholder and corporate communication services and other investor relations related services. Mr. Pound will be paid a monthly cash fee of C$7,500 per month plus applicable taxes. The agreement was entered into on February 17, 2025 and is for twelve (12) month term which will automatically renew for an additional one-year term, and shall thereafter renew for further one-year terms unless terminated pursuant to the terms of the agreement. On February 17, 2025, Mr. Pound was granted 500,000 options at an exercise price of $0.10 for a period of five years and includes vesting provisions whereby one-quarter of the options vest every four months. Mr. Pound is no longer at arm’s length to the Company as he holds stock options and is a less than 5% shareholder of the Company.

Opportunity to Meet with Domestic’s Management

We appreciate meeting with our supporters and shareholders in person to provide a detailed update and as such are looking forward to seeing you at our booth #1101 at the VRIC in Vancouver on January 25-26, 2026 and booth #3139 at the Investors Exchange at the PDAC, March 1-4, 2026, in Toronto.

About ICP Securities Inc.

ICP Securities Inc. is a Toronto based CIRO dealer-member that specializes in automated market making and liquidity provision, as well as having a proprietary market making algorithm, ICP Premium, that enhances liquidity and quote health. Established in 2023, with a focus on market structure, execution, and trading, ICP has leveraged its own proprietary technology to deliver high quality liquidity provision and execution services to a broad array of public issuers and institutional investors.

About Domestic Metals Corp.

Domestic Metals Corp. is a mineral exploration company focused on the discovery of large-scale, copper and gold deposits in exceptional, historical mining project areas in the Americas.

The Company aims to discover new economic mineral deposits in historical mining districts that have seen exploration in geologically attractive mining jurisdictions, where economically favorable grades have been indicated by historic drilling and outcrop sampling.

The Smart Creek Project is strategically located in the mining-friendly state of Montana, containing widespread copper mineralization at surface and hosts 4 attractive porphyry copper, epithermal gold, replacement and exotic copper exploration targets with excellent host rocks for mineral deposition.

Domestic Metals Corp. is led by an experienced management team and an accomplished technical team, with successful track records in mine discovery, mining development and financing.

On behalf of Domestic Metals Corp.

Gord Neal, CEO and Director
(604) 657 7813

For more information on Domestic Metals, please contact:
Gord Neal, Phone: 604 657-7813 or Michael Pound, Phone: 604 363-2885

Please visit the Company website at www.domesticmetals.com or contact us at info@domesticmetals.com.

For all investor relations inquiries, please contact:
John Liviakis, Liviakis Financial Communications Inc., Phone: 415-389-4670

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 Note Regarding Forward-Looking Statements

This news release contains certain statements that may be deemed ‘forward-looking statements’. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects’, ‘plans’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘projects’, ‘potential’ and similar expressions, or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’ or ‘should’ occur. Forward-looking statements may include, without limitation, statements relating to the Company’s continued stock exchange listings and the planned exploration activities on properties. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to: competition within the industry; actual results of current exploration activities; environmental risks; changes in project parameters as plans continue to be refined; future price of commodities; failure of equipment or processes to operate as anticipated; accidents, and other risks of the mining industry; delays in obtaining approvals or financing; risks related to indebtedness and the service of such indebtedness; as well as those factors, risks and uncertainties identified and reported in the Company’s public filings under the Company’s SEDAR+ profile at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are made as of the date hereof and, accordingly, are subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

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