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September 16, 2025

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‘Most transparent’ FBI ever: Patel updates Senate on Kirk assassination probe

FBI Director Kash Patel vowed that the bureau would continue on a quest for transparency during his testimony before the Senate Judiciary Committee as criticism of his handling of the Charlie Kirk assassination investigation lingers.

In his opening statement to the committee obtained by Fox News Digital, Patel listed a series of accomplishments the agency has achieved since President Donald Trump took office, including tens of thousands of arrests, a realignment of the agency and an emphasis on cracking down on illicit drugs.

Patel acknowledged the growing criticism over his direction of the FBI and challenged lawmakers on the panel to come after him. 

‘I’m not going anywhere,’ he said. ‘If you want to criticize my 16 years of service, please bring it on.’

Patel kicked off his testimony by offering an update on the FBI’s investigation into the ‘appalling assassination of Charlie Kirk.’

‘It’s important that the FBI is as transparent as possible without jeopardizing our investigation,’ Patel said.

The FBI chief listed off numerous findings in the case, including an ‘extensive review’ of suspect Tyler Robinson’s accounts and devices. He said over 100 interviews had been conducted since the shooting, and that the FBI has received over 11,000 submissions through the National Threat Operations Center and over 16,000 submissions through the Digital Media Tipline.

‘We are making a traditionally nontransparent agency the most transparent it has ever been,’ Patel said.

He lauded the public participation in the case, too, and noted that the tens of thousands of tips that poured in helped identify a suspect.

‘Tyler Robinson is in custody today because of this partnership,’ he said.

Patel’s appearance before the committee had been on the books for weeks before Kirk’s death and was initially geared as an annual oversight hearing of the FBI. However, his handling of the investigation, social media misfires and a wave of firings at the agency have generated fresh scrutiny over his leadership.

Patel came under the microscope for a post he made on X in the hours after Kirk was killed, where he wrote, ‘The subject for the horrific shooting today that took the life of Charlie Kirk is now in custody.’

However, that individual and another were caught and released before law enforcement nabbed 22-year-old Robinson, some 33 hours after the shooting.

Senate Judiciary Chair Chuck Grassley, R-Iowa, addressed Kirk briefly in his opening remarks, saying, ‘God Bless you, Charlie Kirk.’

The chair, who has advocated for whistleblowers for decades, then dove into lengthy remarks about government weaponization and praised Patel for compensating what he said were 10 FBI employees who lost their security clearances in recent years.

‘In the short amount of time you’ve been director, you’ve corrected whistleblower retaliation and increased transparency more than any other FBI director I’ve seen, and I’ve been around here more than anyone else on this committee,’ Grassley said.

But the top Democrat on the committee, Sen. Dick Durbin, D-Ill., zeroed in on the wide swath of DOJ and FBI personnel who have been fired, sometimes without explanation, a topic expected to crop up repeatedly during Democrats’ questioning.

Durbin criticized Patel’s deference to Trump, saying the director ‘installed MAGA loyalists’ to key positions and initiated internal ‘loyalty tests,’ including polygraph tests. Durbin revealed that some FBI officials failed those tests and needed waivers to continue working at the bureau.

He noted the recent lawsuit brought by three ousted top FBI officials, who have accused Patel of unconstitutionally firing them and wielding the president’s Article II powers to do so.

Durbin also noted that Patel has little experience working in law enforcement, calling his inexperience ‘staggering’ and accusing him of fast-tracking similarly unqualified recruits to fill the FBI’s open jobs.

Patel repeatedly stressed that he has made strides to transform the agency into a more transparent organization and used the ‘Epstein files’ as an example.

Earlier this year a memo from the DOJ and FBI stated that ‘it is the determination of the Department of Justice and the Federal Bureau of Investigation that no further disclosure would be appropriate or warranted,’ after investigating the tens of thousands of documents associated with Jeffrey Epstein.

That triggered a firestorm on Capitol Hill that is still roiling. Prior to becoming director, Patel had promoted the idea that the government was hiding a secret list of sexual predators affiliated with Epstein. Patel during the hearing argued that the ‘original sin’ of the Epstein case began in the early 2000s, where ‘very limited search warrants that didn’t intake as much material into the FBI possession as it should have’ were issued. 

‘If I were FBI director then, I wouldn’t have allowed such a limited search warrant to be issued for these types of atrocious offenses,’ he said.

He argued that under former U.S. Attorney Alex Acosta, Epstein was allowed to enter into a plea deal with non-prosecution agreements, ‘plus the courts issued protective orders and sealed large volumes of material from ever being disclosed.’

‘The non-prosecution barred any future criminal culpability for this entire time period,’ Patel said.  ‘Still, this administration has done more than any of the previous administrations to seek transparency in this case.’

‘[The] DOJ has made motions to the court to unseal grand jury records on multiple occasions, but the courts have denied these motions,’ he continued. ‘Further, it was the first Trump administration that brought the renewed case against Epstein in 2019. Under the direction of this president, we have turned over ALL credible information in conjunction with our partners in Congress.’

This post appeared first on FOX NEWS

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Trump trial continues with more FBI testimony after rifle called ‘prepared to fire’

The federal trial of Ryan Routh, accused of attempting to assassinate President Donald Trump as he played golf in September 2024, resumes Tuesday with more FBI forensic experts scheduled to testify.

On Monday, jurors heard FBI Firearms and Toolmarks Examiner Erich Smith, who alleged the rifle found near the sixth hole of Trump International Golf Club was a Chinese-made Norinco SKS. Smith said the weapon was ‘in working condition’ when recovered, test-fired successfully at the FBI lab, and was configured with a round in the chamber and the safety off — meaning it was ‘prepared to fire.’ 

He also testified the rifle’s serial number had been ‘obliterated in several places’ but could be partially restored.

Smith showed jurors the 7.62×39 mm full metal jacket rounds loaded in the rifle. 

‘Bullets are designed to put holes in things,’ he said. ‘It would have put a hole in something if it had hit the target.’

Routh, representing himself, cross-examined Smith about whether all SKS rifles are semi-automatic, whether test-firings were videotaped and whether the gun could have changed hands at a gun show before he obtained it. 

‘So, we’re just supposed to take your word for it?‘ Routh asked Smith. 

Smith replied: ‘That’s what happened.’ 

Trump-appointed Judge Aileen Cannon sustained prosecution objections when Routh strayed beyond the scope of testimony. 

The court also heard from FBI biologist Curtis Gaul, who testified about collecting potential DNA samples from the rifle grip, a glove, zip ties and other items found. Routh cross-examined briefly, asking where the glove was found and whether Gaul knew who removed the rifle’s scope.

Cannon cut off questioning several times, urging both prosecutors and Routh to keep examinations moving. 

Jurors appeared confused during parts of Gaul’s testimony, as prosecutors referenced exhibit numbers without always displaying them. Meanwhile, Routh was seen leaning forward, taking notes and staring intently when fingerprints reportedly matching his own were displayed on a screen.

When court resumes Tuesday morning, prosecutors are expected to call FBI biologist Kara Gregor, followed by additional FBI specialists in digital forensics and supervisory roles as they continue building their case against Routh.

This post appeared first on FOX NEWS

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Trump pressures Republicans to pass a continuing resolution to avert a government shutdown

As the deadline to fund the government and avoid a partial government shutdown approaches, President Donald Trump has pressured Republican lawmakers to pass a continuing resolution.

‘Congressional Republicans, including Leader John Thune and Speaker Mike Johnson, are working on a short term ‘CLEAN’ extension of Government Funding to stop Cryin’ Chuck Schumer from shutting down the Government. In times like these, Republicans have to stick TOGETHER to fight back against the Radical Left Democrat demands, and vote ‘YES!’ on both Votes needed to pass a Clean CR this week out of the House of Representatives,’ Trump declared in a Monday Truth Social post.

‘Democrats want the Government to shut down. Republicans want the Government to OPEN. Democrats love CRIME, Republicans make our Country SAFE — WE HATE CRIME. FAILURE IS NOT AN OPTION. Thank you for your attention to this matter!’ the president added.

Given the current partisan composition of the lower chamber, the House GOP could only afford to lose two Republican votes while trying to pass a continuing resolution strictly along party lines — if just three Republicans break ranks and oppose passage, the House GOP would lack the votes needed to ram through a stopgap funding measure without Democratic support.

Some House Republicans have objected to the prospect of a continuing resolution.

‘@SpeakerJohnson wants to pass a Continuing Resolution (CR) until the holidays. This CR would be a copy of the uniparty spending bill under Autopen Biden. I didn’t vote for those spending priorities when Biden was President and I won’t vote for them now,’ Rep. Thomas Massie, R-Ky., said in a Monday afternoon post on X.

Prior to publication of Trump’s Truth Social post on Monday, Republican Rep. Warren Davidson of Ohio noted in part of a post on X, ‘I already hated status quo thinking and approaches (soft incrementalism at best), so I’m out on another CR for the sake of more government. We know we need a smaller, more accountable, more focused America First government. I will tolerate nothing else.’

Also shortly before Trump pressured Republicans in the Monday Truth Social post, GOP Rep. Marjorie Taylor Greene of Georgia declared in a post on X, ‘I can’t wait to see how voting for the CR becomes a Trump loyalty test. When in all actual reality, it’s a disloyalty to him by passing a Biden policy laden omnibus. 

‘Instead of passing a Republican appropriations bill with Trump policies and our spending priorities, in order to make his policies permanent. By continuing to pass CR’s, those that demand it and support it, are making Trump a temporary president with temporary policies. Get ready for the spin with paid influencers, bot accounts, and ‘friendly’media supporting,’ the congresswoman added.

Senate Majority Leader John Thune, R-S.D., said the continuing resolution ‘will have a few anomalies in it,’ according to The Hill.

This post appeared first on FOX NEWS

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X account racks up dozens of firings for those publicly celebrating Kirk assassination: ‘Fighting back’

An X account belonging to a conservative activist with over 1 million followers has been posting numerous examples of individuals celebrating or downplaying the political assassination of Charlie Kirk, racking up several firings along the way.

‘For years, the left tried to destroy people for simply having conservative values,’ Students for Trump National Chair Ryan Fournier told Fox News Digital. ‘They ruined careers, families, livelihoods. But now, we are fighting back.’

Since Kirk’s death, Fournier has been using his account with 1.2 million followers to post examples of individuals celebrating or mocking the assassination on social media and asking his followers to email examples to tips@ryanfournier.com.

Fournier told Fox News Digital that he has received 51,000 tips, 300 million views on his platforms, 15 million engagements, his Facebook has surpassed 1 million followers, and at least 76 people have been fired over their posts. 

‘The American people are awake,’ Fournier said. ‘And we are not stopping.’

On Saturday, Fournier posted on X about Apple employee Cody Ikerd’s social media post saying, ‘Imagine having died such a horrible person that someone sharing your life’s work is considered ‘insensitive.’’

Fournier also posted Apple’s press contact emails and, days later, told his 1.2 million followers that Ikerd had been fired.

Chance Williams, an employee at Old Navy who used ‘she/they/enby/transfem’ pronouns on social media, responded to Kirk’s death by commenting, ‘Rest in piss, scum.’

‘UPDATE: @OldNavy has confirmed Chance Williams (she/they/enby/transfem) has been fired,’ Fournier posted on X after exposing the employee’s comment.

‘Time to change the pronouns to was/were!’

Fournier’s effort hasn’t just implicated national brands but has reached into local markets as well, including a post on X about an instructor at a fitness studio in Scottsdale, Arizona, who allegedly mocked Kirk on social media following his assassination. 

‘UPDATE: @KarmaScottsdale has fired Jordyn Robinson,’ Fournier posted on X after his initial post.

Educators have also found themselves being called out by Fournier, including an ELD interventionist in Arkansas who was reportedly fired after Fournier posted on X that she had called Kirk’s death ‘divine justice.’

Politicians have not been immune to Fournier’s effort either, as evidenced by the conservative activist’s post calling out Palmetto Bay, Florida, council member Steve Cody, who allegedly posted online, ‘Charlie Kirk is a fitting sacrifice to our Lords: Smith & Wesson. Hallowed be their names.’

Cody is now facing calls to resign, including from two fellow lawmakers who provided statements to Fox News Digital. 

‘Political violence has no place in America. Councilman Steve Cody’s disturbing despicable statements are entirely unbecoming of an elected official & he must resign immediately,’ GOP Rep. Carlos Gimenez said. 

‘In America we have the right to freedom of speech, Steve Cody won’t be arrested for what he said but he certainly has the right to lose his job for it!’

Florida state Rep. Omar Blanco, who represents Palmetto Bay, told Fox News Digital, ‘Hate speech and mocking violence have no home in Palmetto Bay. For the good of our community, Councilman Steve Cody must resign.’ 

Fournier’s push to shine a light on employees who have appeared to condone political violence, which has been echoed by several top conservative influencer accounts, including LibsofTikTok, Robby Starbuck and Corey A. DeAngelis, has faced pushback from many on the left claiming it impedes free speech that conservatives often champion.

‘This is not cancel culture,’ Fournier told Fox News Digital. ‘This is consequence culture. This is not an attack on the First Amendment. You want to praise an assassination? Fine. But don’t cry when your boss, your school board, or your community finds out what kind of sick, soulless person you really are.’

This post appeared first on FOX NEWS

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Trump appeals order blocking him from firing Fed governor Cook as crucial central bank meeting starts

The Trump administration said Tuesday it would appeal a lower court’s decision blocking the president’s effort to fire Fed’s Lisa Cook to the Supreme Court, an eleventh-hour effort to remove her from the board in the run-up to a crucial interest rate-setting meeting.

White House officials confirmed to Fox News Digital that they will seek to stay the lower court’s ruling, and a filing is expected imminently. 

‘The president lawfully removed Lisa Cook for cause,’ White House spokesman Kush Desai said in a statement. ‘The administration will appeal this decision and looks forward to ultimate victory on the issue.’ 

On Monday, the U.S. Court of Appeals blocked President Donald Trump from immediately firing Lisa Cook from her role on the Federal Reserve Board of Governors, clearing the way for her to participate in a crucial interest rate-setting meeting that begins in a matter of hours.

It was not immediately clear whether the Trump administration would seek an emergency stay from the Supreme Court before the two-day meeting of central bankers kicks off on Tuesday. 

For months, Trump has pressed the Federal Reserve to cut rates in order to help spur the nation’s economic growth. Fed watchers broadly expect the central bank to cut rates during the Federal Open Market Committee (FOMC). 

The outcome of the FOMC meeting impacts every American, with knock-down effects felt in borrowing costs from everything from mortgages to credit cards. 

The D.C. Appeals Court ruling also comes as the Senate narrowly voted 48-47 Monday night to approve Trump’s Fed board nominee, Stephen Miran. He will also participate in the FOMC meeting that will help decide the direction of the economy.

Trump last month tapped Miran — who currently leads the White House Council of Economic Advisers — to fill the seat vacated by Federal Reserve Governor Adriana Kugler, following her resignation in August. He will finish the remainder of Kugler’s term, which ends on Jan. 31, 2026.

Last week, U.S. District Court Judge Jia Cobb temporarily blocked Cook’s firing, allowing her to continue in her current role for now. She said Trump likely violated Cook’s due process rights and that the Federal Reserve statute does not account for conduct that occurred before a governor took office, like the mortgage fraud alleged against Cook.

The allegations originated with Bill Pulte, a Trump appointee to the federal agency that regulates Fannie Mae and Freddie Mac. 

Pulte tied Cook to a trio of properties in Michigan, Georgia, and Massachusetts, which prompted scrutiny over whether Cook had misrepresented how the homes would be used. The three mortgage loans were issued in 2021, before she was nominated by former President Joe Biden to join the Fed board. 

Pulte made two separate referrals to the Justice Department over Cook’s mortgage applications.

Trump seized on those allegations and ousted Cook on Aug. 25, which prompted her to sue him in federal court three days later. Her lawsuit named as defendants Trump, the Board of Governors of the Federal Reserve System, and Federal Reserve Chairman Jerome Powell.

The suit, which was filed on Aug. 28, centered on whether Trump satisfied the ‘for cause’ provisions under federal law required to remove a sitting Fed governor, is the first of its kind. Cook’s lawsuit does not address the allegations that she listed multiple houses as a primary residence on mortgage filings. 

The Justice Department opened a criminal investigation on Sept. 4 into Cook over allegations of mortgage application fraud. Her lawyer, Abbe Lowell, wrote in a filing on Sept. 2 that she ‘did not ever commit mortgage fraud.’

Cook’s lawyers have also stressed both in court filings and in arguments before Judge Cobb last month the novelty of Trump’s attempt to oust her — a move they argued lacked sufficient cause, and could be used as a dangerous pretext to oust other members of independent federal boards.

This post appeared first on FOX NEWS

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Homerun Resources Inc. Announces Updated Offtake Agreement with Brasil Fotovoltaico for the Supply of High-Quality Solar Glass

Homerun Resources Inc. (TSXV: HMR,OTC:HMRFF) (OTCQB: HMRFF) (‘Homerun’ or the ‘Company’) is pleased to announce that the Company has updated and signed a non-binding offtake agreement with Brasil Fotovoltaico Ltda. (‘BRFV’). Under the offtake agreement, Homerun will supply BRFV with a minimum annual volume of 180 thousand tonnes of solar glass manufactured by the Company in Belmonte, Bahia, Brazil. The initial price for the solar glass is set at USD 750 per tonne, Free on Board (FOB) the Homerun facility.

‘This updated offtake agreement aligns with the plan to have the full initial capacity of the Homerun solar glass plant covered by offtake agreements with Brazilian operators. Homerun has now announced 300 thousand tonnes of solar glass offtake and based on current ongoing discussions for increased and new offtakes, that number is expected to grow to 450 thousand tonnes which will exceed the modeled 1000 tonne per day plant capacity. This offtake process continues to confirm Homerun’s position as the go-to supplier for solar glass in Brazil. Homerun has drawn the attention of both existing and future solar module manufacturers in Brazil and upon the completion of the BFS, the Company will formalize these offtake agreements to remove market risk and to facilitate further CAPEX streams to finance the building of the facility,’ stated Armando Farhate, COO of Homerun.

This Agreement is currently non-binding and aims to outline the basic terms for the supply arrangements between the Parties. It does not create any legal obligations or liabilities for either Party. The Parties agree that binding agreements shall supersede this agreement, based on the development of the BRFV solar module facility and once the solar glass plant reaches a Bankable Feasibility Study (BFS).

The BFS process is progressing on an expedited basis:

  • Abundant silica resources are proximal to the solar glass plant location and permitted for extraction and processing.
  • Discussions to utilize current processing plant capacity in the Santa Maria Eterna Silica Sand District are ongoing with a current supply partner.
  • Location, production plant engineering and equipment suppliers, market metrics and input cost calculations for the BFS have been completed internally by Homerun management.
  • Utility suppliers and ties into the plant have been identified with infrastructure costs allocated to those utilities. Other raw materials supply has been identified and priced into the internal economic model.
  • Public and private finance discussions to build the syndicate for the CAPEX (to be determined by the BFS) are ongoing including discussions with the industrial development bank of the Brazilian Government (BNDES).

Brian Leeners, CEO of Homerun stated, ‘Last year, Brazil passed Germany to move into third place for global annual installed capacity of solar modules. The vast majority of these modules came into Brazil as imports. The domestic manufacturers have worked with the Brazilian Government to support the growth of the domestic industry through the newly implemented increase in tariffs on solar module imports. That plan is working to fuel both expansion and new solar module production capacity as Brazil moves toward the Government’s goal of transitioning solar module manufacturing to a new major Brazilian vertically integrated industrial base.’

About Brasil Fotovoltaico Ltda (www.brasilfotovoltaico.com.br)

Brasil Fotovoltaico (BRFV) is a greenfield project, idealized by Si&MEx Solutions GmbH, which aims to implement the first vertically integrated industrial complex in Brazil based on Silicon 5.0 ®, from Polysilicon to Solar Modules.

About Homerun (www.homerunresources.com)

Homerun (TSXV: HMR,OTC:HMRFF) is a vertically integrated materials leader revolutionizing green energy solutions through advanced silica technologies. As an emerging force outside of China for high-purity quartz (HPQ) silica innovation, the Company controls the full industrial vertical from raw material extraction to cutting-edge solar, battery and energy storage solutions. Our dual-engine vertical integration strategy combines:

Homerun Advanced Materials

  • Utilizing Homerun’s robust supply of high purity silica sand and quartz silica materials to facilitate domestic and international sales of processed silica through the development of a 120,000 tpy processing plant.
  • Pioneering zero-waste thermoelectric purification and advanced materials processing technologies with University of California – Davis.

Homerun Energy Solutions

  • Building Latin America’s first dedicated high-efficiency, 365,000 tpy solar glass manufacturing facility and pioneering new solar technologies based on years of experience as an industry leader in developing photovoltaic technologies with a specialization in perovskite photovoltaics.
  • European leader in the marketing, distribution and sales of alternative energy solutions into the commercial and industrial segments (B2B).
  • Commercializing Artificial Intelligence (AI) Energy Management and Control System Solutions (hardware and software) for energy capture, energy storage and efficient energy use.
  • Partnering with U.S. Dept. of Energy/NREL on the development of the Enduring long-duration energy storage system utilizing the Company’s high-purity silica sand for industrial heat and electricity arbitrage and complementary silica purification.

With multiple profit centers built within the vertical strategy and all gaining economic advantage utilizing the Company’s HPQ silica, across, solar, battery and energy storage solutions, Homerun is positioned to capitalize on high-growth global energy transition markets. The 3-phase development plan has achieved all key milestones in a timely manner, including government partnerships, scalable logistical market access, and breakthrough IP in advanced materials processing and energy solutions.

Homerun maintains an uncompromising commitment to ESG principles, deploying the cleanest and most sustainable production technologies across all operations while benefiting the people in the communities where the Company operates. As we advance revenue generation and vertical integration in 2025, the Company continues to deliver shareholder value through strategic execution within the unstoppable global energy transition.

On behalf of the Board of Directors of
Homerun Resources Inc.

‘Brian Leeners’

Brian Leeners, CEO & Director
brianleeners@gmail.com / +1 604-862-4184 (WhatsApp)

Tyler Muir, Investor Relations
info@homerunresources.com / +1 306-690-8886 (WhatsApp)

FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

The information contained herein contains ‘forward-looking statements’ within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be ‘forward-looking statements’.

Neither the 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/266614

News Provided by Newsfile via QuoteMedia

This post appeared first on investingnews.com

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Heritage Mining Confirms New Gold Mineralization at the Scattergood Project

(TheNewswire)

VANCOUVER, BC TheNewswire – September 16, 2025 – Heritage Mining Ltd. (CSE: HML FRA: Y66) (‘ Heritage ‘ or the ‘ Company ‘) is pleased to announce the results from its 2025 prospecting program at its Scattergood Project (‘Scattergood’) (Figure 1, 2). The Company has confirmed surface gold mineralization in close proximity (~4.5km) to Dynasty Gold’s Pelham Deposit (Figure 2).

Scattergood Exploration Program Highlights:

  • Gold occurrence in combination with historical geophysics support early indication of similar geologic setting to the bordering Dynasty Gold Pelham Gold Deposit ~182,000oz at 1.37g/t Au (0.45 g/t Cut-Off) NI 43-101 report filed Jan 4, 2022 (Figure 2)

  • Coincident Mag and IP chargeability anomalies (500m by 200m) similar to Dynasty Gold Pelham Gold Deposit, NI 43-101 report filed Jan 4, 2022 (Figure 2)

  • Heritage is planning a broad spaced geochemical orientation program for immediate follow up (Figure 2).

‘We are very pleased with the initial exploration results from our Scattergood Project. The Heritage Exploration Team has newly identified surface gold mineralization through prospecting within ~4.5km from a known gold deposit Dynasty Golds, Pelham Deposit. This new discovery is important due to its proximity to the Pelham Deposit, we plan to aggressively evaluate the potential of this area. We look forward to further developing this gold target and providing additional updates on our Ontario Project Portfolio in short order.’ Commented Peter Schloo, President, CEO and Director of Heritage


Click Image To View Full Size

Figure 1:  Heritage Mining Ltd. Ontario Project Portfolio


Click Image To View Full Size

Figure 2: Scattergood Project:  Location and Historical Geophysics and Gold Showing in Rock Chips

Scattergood Project

The Scattergood Project totaling ~6,397Ha straddles the lower segment of Wapageisi group volcanic rock and felsic intrusive bodies including the Taylor Lake Stock, Meggisi Pluton, and Scattergood Lake stock as well as numerous late stage minor intrusives. Structurally, the project is complex with the north-northeast trending Taylor Lake Fault and Trout River deformation zone running through parts of the property. Please refer to June 3, 2024 press release for further details.

Discussion of Exploration Potential

The Company undertook a prospecting sampling program over a two-week period collecting 70 rock chip samples from outcrop.

The northeastern Scattergood Project Area displays the following characteristics:

  • Primary structural control: north-south trending structural corridor; regional, crustal-scale. Interpreted primary ‘highway’ for regional fluid flow (Figure 2).

  • Secondary structural control: east west trending deformation zone; hosts gold mineralization within the n-s corridor (Figure 2).

  • Geophysical signature: magnetic and chargeability (IP) highs. Useful for targeting gold mineralization, as these geophysical anomalies can be linked to sulfide and biotite-magnetite alteration (Figure 2).

Conclusion

Initial 2025 prospecting at the Scattergood Project has identified gold mineralization associated with a strong magnetic anomaly and coincident IP chargeability anomaly. A desktop and field review has confirmed structural complexity within the project area. A broad spaced geochemical soil and till orientation program is proposed for immediate follow up.

Qualified Person

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

Technical Program

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

Heritage Mining Ltd. surface rock chip samples were sent to the ALS assay laboratories in Thunder Bay, Ontario, Canada and the Company adheres to a strict QA/QC protocol for handling, sampling, sample transportation and analyses.  Chain-of-custody protocols are designed to ensure security of samples until their delivery at the laboratory.

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

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

Analytical Procedures

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

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

________________________________________

Quality Assurance/Quality Control (QA/QC)

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

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

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

ABOUT HERITAGE MINING LTD.

The Company is a Canadian mineral exploration company advancing its two high grade gold-silver-copper projects in Northwestern Ontario. The Drayton-Black Lake and the Contact Bay projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt. The Scattergood project is located ~40km south of Dryden . Both projects benefit from a wealth of historic data, excellent site access and logistical support from the local community.

For further information, please contact:

Heritage Mining Ltd.

Peter Schloo, CPA, CA, CFA

President, CEO and Director

Phone: (905) 505-0918

Email: peter@heritagemining.ca

FORWARD-LOOKING STATEMENTS

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

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

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

NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Copyright (c) 2025 TheNewswire – All rights reserved.

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SAGA Metals Expands Radar Ti-V-Fe Project Vision with Preliminary Metallurgical Insights and Major Exploration Milestones

Saga Metals Corp. (‘SAGA’ or the ‘Company’) (TSXV: SAGA,OTC:SAGMF) (OTCQB: SAGMF) (FSE: 20H) a North American exploration company focused on critical mineral discovery, is pleased to report dual advancements in its 2025 program: the completion of a detailed mineralogical and geological study prepared by Dr. Al Miller, that sets the stage for comprehensive metallurgical testing, and significant on-site exploration progress at the 100% owned Radar Titanium-Vanadium-Iron (Ti-V-Fe) Project near Cartwright, Labrador. Together, these developments underscore Radar’s potential as a strategic critical metals project in North America.

Radar Ti-V-Fe Project in Labrador, Canada:

The Radar Property benefits from exceptional infrastructure, including all-season road access, a nearby deep-water port, hydroelectric power, and an airstrip with claims just 10 km from Cartwright, Labrador. Spanning 24,175 hectares, the Property covers all the Dykes River intrusive complex—an extensive (~160 km²) Mesoproterozoic layered mafic intrusion. Unique amongst Western exploration companies, SAGA controls its entire intrusive complex.

Grenville-age mafic layered intrusions of Québec and Labrador represent a significant but underdeveloped titanium–vanadium–iron resource province. These layered intrusions, emplaced during the Grenvillian orogeny, locally host thick oxide-rich cumulate zones dominated by titanomagnetite and hemo-ilmenite with accessory vanadium and phosphorus. Their scale and metallogenic affinity are directly comparable to major Fe–Ti–V deposits such as Lac Tio (Quebec), Panzhihua (China), Tellnes (Norway) and Bushveld (South Africa), which supply a major share of global TiO₂ feedstock and vanadium for steel alloys and emerging energy storage markets. The combination of large tonnage potential, favourable logistics, and critical mineral content positions the Grenville intrusions, such as Radar’s Dykes River complex, as strategic candidates for development in the context of growing North American demand for titanium, vanadium and high-quality iron.

Early geological mapping, government magnetic surveys and ground-based geophysics of the Radar property have identified oxide layering across more than 20 km of strike length, with mineralized zones remaining open for expansion. Vanadiferous titanomagnetite (‘VTM’) is the principal oxide and occurs as cumulate and intercumulus mineralization over large thicknesses of the Dykes River layered intrusion.

Figure 1: Radar Property map, depicting magnetic anomalies, oxide layering and the site of the 2025 drill program in the Hawkeye zone. The Property is well serviced by road access and is conveniently located near the town of Cartwright, Labrador. A compilation of historical aeromagnetic anomalies is overlaid by ground-based geophysics as shown. SAGA has demonstrated the reliability of the regional airborne magnetic surveys after ground-truthing and drilling in the 2024 and 2025 field programs.

Petrography, petrology and mineral chemistry of oxide-bearing rocks within the Hawkeye Zone

SAGA retained Dr. Allan Miller, Ph.D., to study a suite of selected intrusive rocks from several areas of the Radar property. Dr. Miller has extensive experience as a petrographer in the Superior and Grenville provinces, including 25 years with the Geological Survey of Canada as a Mineral Deposits Research Scientist responsible for regional-scale metallogeny, deposit-scale alteration studies and regional and detailed mapping in northern Canada.

Dr. A. Miller’s report investigated grab samples taken in 2024, from the area of Saga Metals completed maiden drill campaign earlier in 2025. The drill program included seven (7) diamond drill holes totaling approximately 2,200 metres drilled at the Hawkeye Zone. Drilling confirmed the presence of thick titanomagnetite-rich oxide layers containing titanium dioxide (TiO₂), vanadium pentoxide (V₂O₅), and iron (Fe), while preserving magmatic textures that are advantageous for downstream metallurgical recovery. Key drilling results include:

  • HEZ-07: 20.2 metres grading 31.35% Fe, 6.32% TiO₂, and 0.435% V₂O₅
  • HEZ-07 (additional interval): 57.7 metres grading 27.09% Fe, 5.305% TiO₂, and 0.365% V₂O₅
  • HEZ-01: 31.5 metres grading 25.95% Fe, 5.34% TiO₂, and 0.28% V₂O₅
  • HEZ-04: 50 metres grading 24.49% Fe, 4.74% TiO₂, and 0.305% V₂O₅
  • HEZ-05: 25 metres grading 19.92% Fe, 4.14% TiO₂, and 0.213% V₂O₅

Figure 2: 500m strike by 350m width magnetic anomaly drilled in winter 2025 program. (2024 Saga Metals. TMI Magnetic Survey).

Despite the clear identification of multiple intrusive and mineralizing events in the Dykes River complex, SAGA is focusing on a discrete intrusive horizon termed the Lower Cumulate Layer that was tested in the 2025 Winter drilling program.

Within the 600 m tested thickness of the layered gabbronorite, the chemistry delineates a very promising 300-400 m thickness, referred to as the Lower Cumulate Layer. The highest V2O5 assays are in the lower 100-200 m, coinciding with the highest-grade intervals of VTMs. The layer is comprised of interlayered gabbronorite and bands of semi-massive to massive VTM.

Drill holes R25-HEZ-01, -07, -04, and -05 intersect this Lower Cumulate Layer. Dr. A. Miller’s report highlights the petrography and the mineral composition of silicates and oxides from these targeted oxide layers explored during the 2024 surface exploration program and subsequently drilled in 2025. Those findings describe the Lower Cumulate Layer and a separate, undrilled magmatic layer, documenting at least two Ti-V-Fe magmatic pulses — a significant finding that implies a protracted mineralizing episode.

Hawkeye Zone – Significant Drill Instructions

Drill Hole Interval Length (m) Avg. VTM (%) Max VTM (%)
R25-HEZ-01 263.5 25.90% 35.16%
R25-HEZ-07 311.7 22.95% 41.63%
R25-HEZ-04 208.5 29.59% 35.20%
R25-HEZ-05 187.3 26.76% 26.76%

Maximum VTM is based on about a minimum 10 m interval
All intervals are within the Lower Cumulate Layer

Table 1: Lower Cumulate Layer highlighting the length of VTM intersections.

The significant length-weighted averages at Hawkeye are in the range of 20 to 35% VTM. In other mafic layered intrusions, that tenor of mineralization lies within an economic range.

Dr. Al Miller’s report provides important metallurgical insights into the mineralization of the targeted oxide layers and will be used by metallurgists at IGS Laboratories (‘IGS’) as a precursor to metallurgical testing on the Hawkeye drill core. Petrographic and mineral analyses confirmed that the dominant oxide minerals host titanium and vanadium and the phases were found to preserve primary magmatic textures, a favorable attribute for metallurgical processing. The Company has coordinated the shipment of the previously assayed core samples to IGS for immediate metallurgical analysis complete with Davis Tube and Satmagan analytical methods.

Notably, vanadium was observed in solid solution within magnetite-titanomagnetite, presenting an opportunity for recovery of vanadium alongside titanium as a valuable by-product. The rare-earth element analysis demonstrated consistent mantle-derived magmatic evolution across the Hawkeye prospects, confirming the large-scale continuity of mineralization.

The report provides a detailed analysis of the petrography, ore microscopy, mineral chemistry, and petrogenetic framework of the Radar property’s oxide-bearing rocks. Petrographic and ore microscopy studies documented transitions from massive and semi-massive oxide layers into gabbronorite hosting intercumulus and interstitial oxides, highlighting the close interplay between silicate and oxide phases. Thin-section work revealed a spectrum of textures—from cumulate to intercumulus to interstitial—demonstrating that oxides crystallized both as primary cumulates and later interstitial phases. These textural relationships are critical, as they capture the progressive evolution of the intrusion and the multiple stages of oxide accumulation. Mineral chemistry data from electron microprobe analysis confirmed that titanium and vanadium contents varied between textural types, suggesting repeated injections of compositionally distinct silicate-immiscible oxide melts.

Exploration has also revealed new targets of considerable scale. Ground magnetic and VLF-EM surveys at the Trapper Zone identified a continuous three-kilometre magnetic anomaly with maxima reaching 115,498 nT, among the strongest signatures observed on the property. Excavator trenching at Trapper further exposed semi-massive to massive vanadiferous titanomagnetite cumulate over 504 square metres, providing physical confirmation of the subsurface oxide layering. Meanwhile, magnetic surveys in the Northwest Zone uncovered anomalies up to 55,000 nT in areas largely untested by drilling. Historic drill hole 97-1 in this area intersected multiple intervals exceeding 40% Fe₂O₃ and ~7% TiO₂, including a 10-metre interval with 75% magnetite, demonstrating the broader potential of the intrusive complex. To support these efforts, Saga has advanced logistical access by upgrading forestry roads and constructing a four-kilometre access trail linking the Hawkeye, Trapper, and Northwest Zones.

Figure 3: Radar Project’s Trapper Zone depicting a 3+ km magnetic anomaly and oxide layering trend. The Trapper Trail (in black) will support a new diamond drilling program.

Next Steps at the Radar Property

The combination of geological, drilling, and commencement of metallurgical studies positions SAGA to rapidly advance toward resource definition at the Radar Project. The company intends to pursue a 10,000–15,000 metre follow-up drill program focused on the 3.3 km Trapper Zone oxide layering strike, alongside expanded metallurgical testing to optimize titanium and vanadium recoveries. With robust infrastructure, thick oxide layering, and globally significant analogues such as China’s Panzhihua and Norway’s Tellnes deposits 1 & 2 , Saga believes Radar has the potential to emerge as one of North America’s most significant titanium-vanadium deposits.

‘The findings from this report have confirmed the oxide mineralogy and traced the distribution of titanium and vanadium within these minerals. These oxide horizons exhibit remarkable lateral continuity and share a consistent geochemical signature at a broad scale. These analyses provide exceptional insight into the composition of the oxide layering we are targeting providing key details to establish a targeted and efficient drill program in the Trapper Zone,’ stated Michael Garagan, CGO & Director of Saga Metals.

__________________

Qualified Person

Paul J. McGuigan, P. Geo., is an Independent Qualified Person as defined under National Instrument 43-101 and has reviewed and approved the technical information related to the Radar Ti-V-Fe Project disclosed in this news release.

About Saga Metals Corp.

Saga Metals Corp. is a North American mining company focused on the exploration and discovery of a diversified suite of critical minerals that support the global transition to green energy. The Radar Titanium Project comprises 24,175 hectares and entirely encloses the Dykes River intrusive complex, mapped at 160 km² on the surface near Cartwright, Labrador. Exploration to date, including a 2,200m drill program, has confirmed a large and mineralized layered mafic intrusion hosting vanadiferous titanomagnetite (VTM) with strong grades of titanium and vanadium.

The Double Mer Uranium Project, also in Labrador, covers 25,600 hectares featuring uranium radiometrics that highlight an 18km east-west trend, with a confirmed 14km section producing samples as high as 0.428% U 3 O 8 and uranium uranophane was identified in several areas of highest radiometric response (2024 Double Mer Technical Report).

Additionally, SAGA owns the Legacy Lithium Property in Quebec’s Eeyou Istchee James Bay region. This project, developed in partnership with Rio Tinto, has been expanded through the acquisition of the Amirault Lithium Project. Together, these properties cover 65,849 hectares and share significant geological continuity with other major players in the area, including Rio Tinto, Winsome Resources, Azimut Exploration, and Loyal Metals.

With a portfolio that spans key minerals crucial to the green energy transition, SAGA is strategically positioned to play an essential role in the clean energy future.

On Behalf of the Board of Directors

Mike Stier, Chief Executive Officer

For more information, contact:

Rob Guzman, Investor Relations
Saga Metals Corp.
Tel: +1 (844) 724-2638
Email: rob@sagametals.com
www.sagametals.com

Neither the TSX Venture Exchange nor its Regulation Service 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 Disclaimer

This news release contains forward-looking statements within the meaning of applicable securities laws that are not historical facts. Forward-looking statements are often identified by terms such as ‘will’, ‘may’, ‘should’, ‘anticipates’, ‘expects’, ‘believes’, and similar expressions or the negative of these words or other comparable terminology. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. In particular, this news release contains forward-looking information pertaining to the exploration of the Company’s Radar Project. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations 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, environmental risks, limitations on insurance coverage, inherent risks and uncertainties involved in the mineral exploration and development industry, particularly given the early-stage nature of the Company’s assets, and the risks detailed in the Company’s continuous disclosure filings with securities regulations from time to time, available under its SEDAR+ profile at www.sedarplus.ca. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by applicable law.

Photos accompanying this announcement are available at
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FPX Nickel Announces Funding Contribution from Natural Resources Canada to Advance the Baptiste Nickel Project

FPX Nickel Corp. (TSXV: FPX), (OTCQB: FPOCF) (‘FPX‘ or the ‘Company‘) is pleased to announce that it has been awarded a total of $3.5 million from Natural Resources Canada’s Critical Minerals Infrastructure Fund (‘CMIF‘). The confirmed funding is a non-repayable contribution to support the development of feasibility studies and environmental and cultural baseline studies, in collaboration with First Nations, for the access road and electrical transmission line required for the Baptiste Nickel Project (‘Baptiste‘ or the ‘Project‘).

Highlights

  • $3.5 million in non-repayable contributions from Natural Resources Canada (‘NRCan‘), covering 50% of the estimated costs for the execution of feasibility and baseline studies on the access road and electrical transmission line required for Baptiste
  • Upgrades to transportation and electrical transmission infrastructure would bring significant benefits to the local community and region by improving safety on local roads and enhanced reliability of electricity powering homes and businesses

September, 2025 (Vancouver) Martin Turenne, President and CEO, FPX Nickel and Honourable Tim Hodgson, Minister of Energy and Natural Resources (left to right) (CNW Group/FPX Nickel Corp.)

‘We are grateful to receive this support from the Government of Canada for the Baptiste Nickel Project. These funds awarded under the Critical Minerals Infrastructure Fund will enable FPX to deepen its engagement with area First Nations as we advance feasibility studies and environmental and cultural baseline studies for the access road and electrical transmission infrastructure needed to unlock the potential of Baptiste’ said Martin Turenne, FPX Nickel’s President and CEO. ‘We are optimistic that area First Nations will also be in a position to avail themselves of important NRCan programing, such as the Indigenous Natural Resource Partnership Program, to compliment the funding provided to FPX under the CMIF Program.’

Study Details

The CMIF funding will support the study and routing of the powerline required to connect the Baptiste site to BC Hydro’s Glenannan substation near Fraser Lake, British Columbia, located 90 km south of Baptiste. To avoid major waterbodies, provincial parks, and other sensitive areas, the powerline route from Glenannan to site will be approximately 155 km in length. The funding announced today also supports the study and design of an access road corridor from the Baptiste site to paved provincial highways in the Fort St. James region utilizing an existing network of well-established Forest Service Roads.

About the Critical Minerals Infrastructure Fund

The CMIF is Natural Resources Canada’s flagship program under the Canadian Critical Minerals Strategy to support enabling clean energy and transportation infrastructure projects necessary to increase Canada’s supply of responsibly sourced critical minerals, and the development of domestic and global value chains for the green and digital economy.

About the Baptiste Nickel Project

The Company’s Baptiste Nickel Project represents a large-scale greenfield discovery of nickel mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni3Fe) hosted in an ultramafic/ophiolite complex. The absence of sulphur and our ability to connect to the BC Hydro grid means that Baptiste has the potential to be one of the lowest carbon-intensive nickel producers in the world and will produce a very high-grade product that does not require any intermediate smelting or complex refining. The Baptiste mineral claims cover an area of 453 km2 west of Middle River and north of Trembleur Lake, in central British Columbia. In addition to the Baptiste Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas within the same claims package, most notably at the Van Target which is located 6 km to the north of the Baptiste Deposit. Since 2010, approximately US$55 million has been spent on the exploration and development of Baptiste.

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

About FPX Nickel Corp.

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

On behalf of FPX Nickel Corp.

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

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

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


Click here to connect with FPX Nickel (TSXV:FPX,OTCQB:FPOCF) to receive an Investor Presentation

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Uranium.io Shakes Up Uranium Market With Launch of Real-Time Price Oracle

The crypto industry is not just about ETFs and price surges; it’s also about tackling real-world market inefficiencies. The launch of Uranium.io’s near-real-time uranium pricing oracle is a prime example of that.

Uranium.io, a platform tokenizing Uranium, unveiled its pricing oracle on Tuesday, aimed at addressing the price opacity issues in the uranium market.

What to know:

  • Uranium.io has launched a near-real-time pricing oracle to address price opacity in the uranium market, enhancing transparency and efficiency.
  • The platform tokenizes uranium, allowing investors to trade fractional shares of physical uranium, democratizing access to a traditionally restricted market.
  • Uranium-related financial instruments, such as ETFs, have outperformed bitcoin this year, highlighting growing investor interest in uranium assets.

Unlike oil, gold, base metals and agri commodities, uranium pricing has long relied on over-the-counter deals – privately negotiated and fragmented transactions that leave market participants in the dark. This absence of a reliable real-time market action gauge has bred inefficiencies and uncertainty, limiting broad-based participation in the market.

Uranium.io’s oracle changes the game by aggregating data from dozens of market sources, including spot price feeds, nuclear-sector equities, commodity funds, and related assets.

The proprietary system uses sophisticated algorithms to update uranium spot price estimates every 60 seconds, providing an almost live pricing engine that mirrors the complex dynamics of uranium fluctuations.

‘While uranium itself trades privately, its value is constantly being priced in public markets through related assets like uranium ETFs, mining stocks, and specialized funds. Our oracle uses statistical modeling to synthesize these pricing signals into a near-real-time uranium spot price estimate. It’s similar to how other commodity benchmarks work, aggregating signals from related markets to create reliable price references,’ Ben Elvidge, Head of Commercial Applications at Trilitech and the Product Lead for Uranium.io, told CoinDesk.

Uranium.io is a blockchain-based project that aims to democratize the uranium market. The platform enables individual and institutional investors to trade and own fractional shares of physical uranium (U₃O₈), also known as ‘yellow cake,’ providing transparent access to a market traditionally dominated by large institutions.

Each xU308 token is backed by real, physical uranium stored in a regulated facility operated by Cameco, which is the world’s largest publicly traded uranium company, based in Saskatoon, Saskatchewan, Canada.

The tokenization process begins once the physical uranium is verified and registered on the Tezos blockchain, including its physical properties, storage locations and regulatory approvals. A smart contract is then deployed to represent the uranium asset digitally on the blockchain, after which tokens are minted.

Arthur Breitman, co-founder of Tezos, stated that the pricing oracle will initiate the virtuous cycle of injecting efficient pricing information into the market, thereby enhancing liquidity and market efficiency.

‘Price discovery for uranium isn’t just happening in the uranium spot markets but across a wide array of economically related assets. The oracle starts a virtuous circle by injecting this information back into the uranium market, which in turn can improve its liquidity and foster better price discovery in the spot market,’ Brietman said in a press release shared with CoinDesk.

Spot Uranium ETF outshines BTC

While individual investors typically cannot own physical uranium, they have gained exposure through financial instruments such as uranium futures and exchange-traded funds (ETFs), which have provided significantly higher returns than bitcoin this year.

For instance, the Global Uranium ETF (URA) has surged by 71% this year, outperforming notable ETFs like BlackRock’s bitcoin ETF, IBIT, which has gained 27%, showcasing the growing investor interest and strong performance potential in uranium-related assets.

The global uranium market has traditionally been fragmented and restricted, particularly for retail investors who face significant barriers to directly holding physical uranium.

This is largely due to uranium’s association with nuclear weapons and strict regulatory controls. However, uranium remains a critical element at the heart of the clean energy transition, powering nuclear reactors that provide low-carbon electricity globally.

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