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October 2, 2025

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NATO allies clash after Russian jets breach airspace, testing alliance resolve

Recent Russian incursions into NATO airspace have sharpened divisions inside the alliance over how to respond, exposing both the strength and the limits of collective defense.

Secretary General Mark Rutte clashed with Estonian Prime Minister Kristen Michal last week after Estonia invoked NATO’s Article 4 clause, which triggers consultations when a member feels its security is threatened.

According to three European officials granted anonymity to speak freely, Rutte argued that repeated invocations risked diluting the treaty’s force. One source said he even raised his voice at Michal, warning that NATO must be cautious about how often it signals alarm.

Rutte argued that if Article 4 were invoked every time Russia violated sovereignty — through drone incursions, fighter jets, cyberattacks and more — it would quickly lose impact, according to the officials.  

A NATO spokesperson confirmed Rutte and Michal spoke Friday and said the secretary general ‘has supported Estonia throughout the process.’

Rasmus Ruuda, director of the Government Communication Office of Estonia, told Fox News Digital Rutte ‘expressed support for Estonia and the Prime Minister thanked NATO for its actions.’

‘Article 4 is just a signal that we’re taking note of what happened,’  said Giedrimas Jeglinskas, a Lithuanian member of parliament and former NATO assistant secretary general. ‘We can be invoking Article 4 every week, and I think that only weakens us, because we’re unable to truly respond to that aggression that Russia is sort of throwing at us.’

The tension comes after a series of provocative moves by Moscow. Last month, missile-carrying Russian MiG-29s flew into Estonian territory, following an earlier breach of Polish airspace by 19 drones and repeated incursions over Romania. In Poland, jets scrambled to intercept the drones, shooting some of them down. It marked the first time since World War II that Polish armed forces mobilized to engage an airborne threat over their homeland.

The Russian jets in Estonia were eventually escorted out of its territory by Italian F-35s. Estonia’s Article 4 request followed Poland’s own invocation days earlier, prompting another round of consultations in Brussels.

Since its creation in 1949, Article 4 has been triggered only nine times. NATO’s warning to Russia after the Estonian request was blunt: any further breaches would be met with ‘all means’ of defense. Estonia’s defense minister said his nation was prepared to shoot down Russian planes violating airspace ‘if there is a need.’ 

But Jeglinskas said signaling without consequence risks leaving the alliance trapped.

‘We’re happy to do Article 4 every other day, but so what? What’s next?’ he said. ‘The real question is what happens when the jets actually enter our airspace.’

The debate cuts to a deeper question: what constitutes a ‘need’ to shoot down Russian jets? How can Russia be deterred without stumbling into direct war?

‘The last thing we want is to have NATO get drawn into a war with Russia,’ a senior State Department official told Fox News Digital. ‘God knows how that ends.’

‘Almost all wars … they don’t necessarily start with a big bang,’ the official went on. ‘They start with an escalation, and then somebody feels they need to respond to this, and then you just get in a toxic spiral.’

The United States has promised to defend ‘every inch’ of NATO while pressing Europe to bear more of its own defense burden. Washington’s mixed signals have only complicated matters.

Trump administration officials long favored reducing the U.S. troop presence in Europe. But President Donald Trump recently delivered one of the starkest warnings to Moscow, declaring that NATO states should shoot Russian aircraft down if they incur on their territory.

Jeglinskas said the statement resonated across the Baltic States. ‘What was really helpful was that President Trump was very clear,’ he said. ‘That gives us confidence we’re on the right track, and we really appreciate the support.’

Still, allies remain divided on whether to escalate. Some warn that Eastern Europe cannot credibly threaten retaliation without an American security guarantee. Others argue that deterrence depends on showing Russia its incursions carry a cost.

‘If we really want to send a proper message of deterrence to Russia, we need to be prepared to use kinetic force,’ Jeglinskas said. ‘That means neutralizing those jets — shooting them down or finding other ways to impose consequences — so Russia actually feels the cost of its incursions. That hasn’t happened yet, and it leaves us vulnerable.’

The airspace disputes now extend beyond fighter jets. European Union members are meeting in Copenhagen this week to discuss shoring up air defenses after a wave of drone sightings. Denmark briefly shut down its airspace following mysterious drone activity, while Lithuania’s Vilnius airport and Norway’s Oslo airport also reported disruptions. Drones have even been spotted over Germany’s northern state of Schleswig-Holstein.

‘We are not at war, but we are no longer at peace either. We must do much more for our own security,’ German Chancellor Friedrich Merz said in Düsseldorf.

NATO jets scrambled to intercept drones over Poland, but the response underscored a growing mismatch: deploying multi-million dollar fighters to counter small, unmanned aircraft is neither efficient nor sustainable.

‘NATO remains the most crucial element of our security equation,’ Jeglinskas said. ‘It’s the backbone through which our security is viewed. There’s really no doubt about NATO’s political will and its capability to defend its territory, but warfare is changing — and the question now is, has NATO adapted to the new way of war that is seeping through the borders of Ukraine?’

Jeglinskas warned that neither NATO nor the Baltic States have done enough. ‘The Polish incursion signified that NATO is not fully ready to counter these threats,’ he said. ‘Scrambling jets is a tremendous economic mismatch. If these kinds of attacks become swarms, it’s not sustainable.’

To address mounting threats, NATO last month launched Operation Eastern Sentry, reinforcing its presence on Europe’s eastern flank. Jeglinskas welcomed the move but said gaps remain.

‘Jets are very important, but more jets don’t mean we’re more secure from low-altitude drones,’ he said. ‘The question is: do we have sensors that can detect what’s happening from the ground up to a kilometer into our airspace? We don’t see that. It’s like a dead space.’

Jeglinskas called for stronger short- and medium-range radar, as well as layered defenses akin to Israel’s Iron Dome, capable of intercepting drones with both kinetic and electronic means.

‘NATO’s response is commendable,’ he said, ‘but it’s not enough. You need technical know-how, the right capabilities, and systems that are truly integrated if you want to make this work.’

For now, NATO remains caught between signaling resolve and acting on it. As Russia continues to test the alliance’s borders, Jeglinskas and other Eastern European officials warn that credibility is at stake. The next incursion, they argue, may demand more than words.

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War Department pushes back on ‘false’ narrative of internal strategy split

Rejecting reports of a split with the brass, the Department of War says the National Defense Strategy was ‘seamlessly coordinated’ with senior civilian and uniform leaders — and that ‘any narrative to the contrary is false.’

On Monday, The Washington Post reported that multiple senior officers had raised concerns about the forthcoming strategy, pointing to a divide between political leadership.

Deputy Secretary of War Steve Feinberg pushed back on Wednesday, in an on-the-record statement to Fox News Digital.

‘The Department’s National Defense Strategy has been seamlessly coordinated with all senior civilian and military leadership with total collaboration — any narrative to the contrary is false,’ Feinberg said.

A senior War Department official said the strategy was the product of ‘extensive and intensive’ collaboration across the department.

The drafting team included a policy lead, a Joint Staff deputy and representatives from the military services who consulted widely with civilian and uniformed offices.

Under Secretary of War for Policy Elbridge Colby and the acting deputy under-secretary for policy, Austin Dahmer, met with leaders from every group. The official called that level of policy-shop engagement ‘unprecedented.’

Air Force Gen. Dan Caine, who chairs the Joint Chiefs of Staff, provided feedback directly to Secretary of War Pete Hegseth and Colby, the official said, and both assured him his input would be reflected in the final draft.

The Post report said political appointees in the Pentagon policy office led the drafting and described unusually sharp pushback from some commanders over priorities and tone. 

The War Department disputes that characterization and says the document was coordinated at the principal level and aligned closely with the National Security Strategy.

The pushback comes a day after Hegseth addressed hundreds of commanders at Marine Corps Base Quantico.

In a 45-minute speech, he argued the force needs tougher standards and a tighter focus on warfighting. He has recalled one-star and above officers from around the world to brief in person and has removed several senior general officers as part of a broader overhaul.

Hegseth says new directives will restore rigorous physical, grooming and leadership standards and require combat roles to meet one set of physical benchmarks.

The Washington Post did not immediately respond to Fox News Digital’s request for comment. 

Fox News Digital’s Jasmine Baehr and Morgan Phillips contributed to this report.

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Democrats refuse to budge over Obamacare fight as shutdown drags on

Senate Democrats appear ready for the long haul as the government shutdown continues and are putting the onus of reopening the government on Republicans.

The Senate was out Thursday to observe the Jewish holiday Yom Kippur and is expected to return to action Friday to again vote on the dueling proposals to reopen the government. Though three Democratic caucus members have voted for the GOP’s plan, an end to the shutdown still seems a ways out.

Senate Democrats, led by Senate Minority Leader Chuck Schumer, D-N.Y., have largely unified around the push for expiring Obamacare tax credits that they say must be dealt with now rather than at the end of the year when they are set to end.

Republicans argue that any negotiations for the expiring subsidies can happen once the government reopens.

‘Democrats know we need to reopen the government, and they know that they’re appropriately getting blamed for shutting it down, and we’re going to continue to bring up the continuing resolution,’ Senate Majority Whip John Barrasso, R-Wyo., said. ‘There’s things they want to negotiate, and we can do that once the government is open.’

The White House, particularly Office of Management and Budget (OMB) Director Russ Vought, and President Donald Trump have ramped up pressure on Senate Democrats, too, with targeted spending cuts to blue states and threats of mass firings of federal workers.

But Vought’s targeted cuts likely do not help Democrats move closer to supporting the GOP’s continuing resolution (CR).

‘Russ Vought is a menace whether the government is open or closed. He wakes up figuring, ‘What damage can I do today?’ That’s what he does,’ Sen. Peter Welch, D-Vt., said. ‘So, the status of government [being] open or closed, it’s not relevant to Russell Vought. He just goes on his rampage every day.’

Senate Democratic leadership also appears unwilling to cave this early into a shutdown as Republicans plan to continue bringing their short-term extension to the floor. Senate Minority Whip Dick Durbin, D-Ill., said that he planned to continue to vote down the GOP’s plan.

‘How long can Republicans explain to the American people that they want to do nothing to help pay for health insurance?,’ he asked.

When asked if he was concerned by Vought targeting projects in blue states, Durbin said, ‘Sadly, it’s a consistent pattern.’

Sen. Chris Murphy, D-Conn., charged that Trump didn’t have ‘superpowers during a shutdown’ to fire federal workers and slash additional funding.

‘The news today is that the president is deciding to act illegally and shut down funding for Democratic states and keep money flowing for Republican states,’ Murphy said. ‘This is not a functioning democracy if the president seizes spending power in order to reward his friends and punish his enemies.’

Murphy said Democrats would not ‘get run over’ during the shutdown, and that the government would reopen when the GOP gets ‘serious about talking to Democrats.’

Early negotiations on a path forward materialized on the Senate floor on Wednesday, but no real deal came from those talks. Instead, Republicans and Democrats in the impromptu meeting said that they left with a better understanding of either side’s desires.

Sen. Gary Peters, D-Mich., previously voted with Schumer in March to keep the government open. The retiring senator was also one of the nearly dozen lawmakers in a bipartisan huddle on the Senate floor that sparked early negotiations on the expiring credits.

Peters said that it was ‘premature’ to say there was a deal or plan locked in after those talks, but he warned that deeper issues were still at play for congressional Democrats when it came to dealing with the GOP and White House.

‘There are all sorts of trust issues, both in the Senate and the House, so we have to work through all of that,’ he said.

And Sen. Catherine Cortez Masto, D-Nev., was one of just three Democratic caucus members who have now voted twice with Republicans on their CR. While she supported reopening the government, she still blamed Republicans for ignoring the Obamacare tax credits.

‘[Republicans] created this crisis … and they need to address it,’ she said. ‘They have no moral standing, no moral standing to stand back and say that this is all on the Democrats. They are in control, they created this crisis. People are suffering.’

When asked if she trusted Republicans in negotiations, Cortez Masto countered, ‘You tell me.’

‘They’re already entrenched in their positions, unfortunately, and not thinking about the American public,’ she said. 

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White House says federal layoffs could hit ‘thousands’ ahead of Trump, Vought meeting

The federal government may have to lay off ‘thousands’ of employees if the government shutdown continues, White House press secretary Karoline Leavitt warned Thursday.

Leavitt made the comments during a gaggle with reporters outside the White House, saying administration officials are already gaming out the layoffs.

‘Look, it’s likely going to be in the thousands. It’s a very good question. And that’s something that the Office of Management and Budget and the entire team at the White House here, again, is unfortunately having to work on today,’ Leavitt said.

‘These discussions and these conversations, these meetings would not be happening if the Democrats had voted to keep the government open,’ she added.

Leavitt went on to accuse Democrats of playing politics with the shutdown, arguing there is ‘zero good reason’ for Democrats to obstruct the process.

‘They are doing it for political reasons. They are doing it because they want to give taxpayer-funded health care benefits to illegal aliens, which is something that American people resoundingly rejected ahead of the election last year,’ she said.

President Donald Trump announced earlier Thursday that he is set to meet with Office of Management and Budget (OMB) Director Russell Vought later Thursday to discuss which agencies ‘are a political SCAM.’

Vought is tasked with recommending which agencies should face cuts and whether those cuts should be temporary or permanent.

‘I can’t believe the Radical Left Democrats gave me this unprecedented opportunity,’ Trump wrote on social media. ‘They are not stupid people, so maybe this is their way of wanting to, quietly and quickly, MAKE AMERICA GREAT AGAIN!’

The federal government entered a partial shutdown Wednesday after the midnight funding deadline passed, with Democrats and Republicans failing to agree on a funding bill.

Vice President JD Vance on Wednesday accused Democrats of forcing the shutdown over providing illegal immigrants with taxpayer-funded emergency healthcare and Senate Minority Leader Chuck Schumer, D-N.Y., fearing a primary challenge from progressive ‘Squad’ member Rep. Alexandria Ocasio-Cortez, D-N.Y.

Fox News’ Stephen Sorace contributed to this report

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Johnson shuts door on negotiating shutdown deal as Democrats dig in on Obamacare

House Speaker Mike Johnson, R-La., made clear on Thursday that House Republicans will not budge amid the ongoing standoff over government funding, as Democrats continue to insist on healthcare concessions.

‘Don’t ask the Republicans what we should be doing or what we should be negotiating. I don’t have anything to negotiate. I sent them, in good faith, exactly what they voted for before,’ Johnson told reporters during a press conference.

‘We did not put any Republican provisions in that, and we tried to make this very simple, in good faith, so the appropriations process of the people can continue.’

The government shutdown has entered into a second day as Democrats and Republicans remain at odds over how to proceed with federal funding past the end of fiscal year (FY) 2025, which concluded Sept. 30.

The House passed a measure to keep the current federal spending levels roughly flat through Nov. 21 to give Congress more time to reach a longer-term deal for FY 2026. That bill, called a continuing resolution (CR), advanced mostly along party lines.

But in the Senate, where at least several Democrats are needed to reach the 60-vote threshold to overcome a filibuster, progress has stalled. 

Democrats there have rejected the GOP plan three times, most recently on Wednesday afternoon.

House and Senate Democrats have insisted they will not vote for any funding deal that does not also extend enhanced subsidies in Obamacare, formally called the Affordable Care Act, which were hiked during the COVID-19 pandemic.

Those enhanced subsidies are set to expire at the end of this year without congressional action.

‘People say, ‘Why aren’t you negotiating with [Senate Minority Leader Chuck Schumer, D-N.Y., and House Minority Leader Hakeem Jeffries, D-N.Y.]?’ Because I quite literally have nothing to negotiate. There’s nothing I can pull out of the bill that was a Republican priority to say, ‘Oh, we won’t do that. Why don’t you guys vote for it now?’ I don’t have anything,’ Johnson said.

‘I didn’t put anything in it to send it over. I’m stunned. I’m stunned that they have decided to shut the government down and hurt people. It is on them 100%.’

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International Graphite

Investor Insight

International Graphite’s is building a global mine-to-market graphite supply chain with a network of downstream processing operations in allied markets, underpinned by a world class resource in Australia. This will deliver a secure, reliable supply of high-value graphite products for growing industrial and battery markets across the US, Europe and Asia.

Overview

International Graphite (ASX:IG6 and FRA:H99) offers low risk, near-term entry to the growing graphite market. Shifting from developer to producer, International Graphite’s first commercial processing facility is now under construction in Collie, Western Australia. The company’s ISO-certified R&D and qualification operations have already shipped product samples and recorded initial sales, helping to seed customer relationships ahead of ramp-up. The strategy is deliberately modular: start with value-added industrial products that can generate early cash flow, then scale capacity and product mix to high value battery materials, as demand and capability build. To date, the company’s Western Australian projects have received AU$17.2 million in grants from Australian state and federal governments.

In parallel, a 50/50 joint venture is advancing in Germany to establish an expandable graphite plant, placing International Graphite inside the EU’s industrial heartland and adding a second revenue stream in applications such as flame-retardant plastics and thermal management.

Together with Collie, the two processing facilities have the potential to add approximately 10,000 tonnes per annum (tpa) of graphite products from 2027. Europe is currently one of the world’s biggest consumers of expanded graphite, almost all of which is imported.

Longer term, growth is anchored by the 100-percent-owned Springdale graphite project in Western Australia, providing security of supply for the vertically integrated process network and supporting plans to move further downstream into battery anode materials. The development pathway is supported by government backing and strategic partners, with additional funding avenues being progressed. All of this is pursued in tier-one jurisdictions with a focus on quality, certification and responsible development – attributes increasingly demanded by global customers.

Company Highlights

  • Near-term revenue: Construction is underway at Collie, WA for Australia’s first commercial graphite micronising plant – designed to generate early cash flow with a straightforward path to expand capacity.
  • European expansion: A 50/50 joint venture is progressing to build an expandable graphite facility in Germany, putting International Graphite inside the EU market for flame-retardant and thermal products and broadening revenue beyond batteries.
  • De-risked funding: Collie has strong grant funding support from Australian national and state governments. The European project has a financing partner with a mandate to arrange significant non-dilutive funding.
  • Customer traction: ISO-certified operations in Collie are supplying qualification products to potential domestic and international customers and have recorded initial sales ahead of commercial scale-up.
  • Resource-backed growth: The Springdale graphite resource and future mine (mining leases granted) underpins long-term feed supply for downstream operations with proven quality and metallurgical characteristics that are optimal for battery anode materials.
  • Scale ambition: The two process facilities at Collie and in Germany have potential to deliver >10,000 tpa of high-value graphite products with production targeted to start in 2027.

Key Projects

Springdale Graphite Project

Springdale is a large, fine-flake resource in Western Australia that underpins International Graphite’s mine-to-market plan. The current mineral resource is 49.3 Mt @ 6.5 percent total graphitic carbon. With only a small portion of the tenements drilled to date, there is significant room for resource growth. The January 2024 scoping study outlines a long-life, open pit mine producing ~46,000 tpa of concentrate for AU$76 million capex. Bench-scale testwork on Springdale concentrates has achieved battery-grade purities (>99.95 percent to 99.99 percent), with spheroidising yields up to 76 percent and near-theoretical electrochemistry (372 mAh/g). Springdale also benefits from a non-binding MoU with Marubeni, a supportive local community and established resource industry infrastructure. Two mining leases have been granted that cover most of the tenement area.

Collie R&D and Processing Facility (Western Australia)

International Graphite is developing Australia’s first commercial graphite micronising plant at Collie, in Western Australia. The March 2025 front-end engineering design study estimates Stage 1 at ~4,000 tpa for AU$6.3 million, with an additional AU$1.7 million to lift capacity to ~7,500 tpa. Detailed design is underway and a supply contract and purchase orders have been issued for the micronising process equipment. Collie’s ISO-certified R&D/qualification facility remains active having processed 1,216 kg of concentrates into micronised and spheroidised products with initial sales achieved. Company presentation metrics indicate revenue potential of ~AU$14.1 million to ~A$28 million per year at Stage 1/Stage 2, with indicative IRRs of 43 percent to 72 percent (subject to funding and final approvals).

European Expandable Graphite Facility (Germany)

International Graphite has signed a co-operation agreement with Arctic Graphite AS to form a 50/50 joint venture to develop an expandable graphite facility in Europe, with Germany as the preferred site. The facility targets ~3,000 tpa of product for a €5.0 million capital cost. Graphite Investment Partners (GIP) will arrange ≥50 percent non-dilutive funding and has issued a non-binding LOI to arrange up to AU$10 million for the German facility and Collie (subject to due diligence and terms). The assessment scope targets efficient, scalable development using third-party feedstock, with technical partners ProGraphite and Hensen supporting engineering and product development. Arctic’s shareholder LNS brings long-standing European graphite operating experience.

Successful delivery of the German plant alongside Collie would position International Graphite to produce ~10,000 tpa of high-value graphite products from 2027.

Management Team

Phil Hearse – Chairman

One of Australia’s leading metallurgists and an authority on graphite project development, Phil Hearse founded International Graphite in 2018 and continues to lead the company’s growth and development. An engineer with more than 40 years of experience in diverse and challenging projects around the world, his extensive career has taken him from operational and technical roles at Broken Hill, Bougainville Copper, Queensland Nickel (QNI) and Gove Alumina to senior executive and managerial positions in engineering and operating companies.

Hearse is the owner and managing director of Battery Limits, one of Australia’s leading graphite metallurgy and process engineering firms. The company has assisted many listed public companies to develop bankable feasibility studies for graphite mines and concentrators and has generated significant intellectual property in downstream processing and knowledge of the end use market. Hearse has an MBA from Hull University UK and a Bachelor of Applied Science in primary metallurgy from the University of SA. He is a fellow of the Australasian Institute of Mining and Metallurgy and a fellow of the Australasian Institute of Mining and Metallurgy.

Andrew Worland – Managing Director and Chief Executive Officer

Andrew Worland is a mining executive and experienced ASX/TSX director with over 25 years in senior finance, corporate, project management and marketing roles in the Western Australian mining sector.

Worland’s commodity experience includes exploration, development and operations in lead, zinc, nickel, cobalt, gold, iron ore, molybdenum, copper and uranium. He has a Bachelor of Commerce with a major in finance and marketing from the University of Western Australia and is a qualified chartered company secretary and has achieved Fellow of the Governance Institute of Australia.

David Pass – Non-executive Director and Technical Director

David Pass has played a key role in the technical development of International Graphite since the company’s inception. A metallurgist with 30 years in the mining industry, he brings a mix of operational processing, process design, project, due diligence skills and management experience including mine operations experience with Barrick Gold.

Pass is chief executive officer of Battery Limits and an acknowledged expert in graphite primary and downstream processing and has led several studies in graphite project development to definitive feasibility level. He holds a Bachelor of Science in metallurgy from Murdoch University and is a member of the Australian Institute of Mining and Metallurgy.

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Mount Hope Mining

Investor Insight

Mount Hope Mining’s strategic location in the prolific and resource-rich Cobar Basin, which has seen a surge of exploration and M&A activity in recent years, positions the company as a compelling investment proposition. With its maiden drilling program now underway, Mount Hope is transitioning from target generation to resource definition, supported by a strong pipeline of prospects and a clear development pathway.

Overview

Mount Hope Mining (ASX:MHM) is an Australian resource company specializing in copper and gold exploration. With its flagship project located in the Cobar Basin of New South Wales, Australia, the company leverages the region’s rich mining history and underexplored potential.

Through the acquisition of Fisher Resources, a subsidiary of Unico Silver, Mount Hope secured full ownership of the Mount Hope project, which now extends across 422 sq km. This large-scale landholding provides exposure to two major mineralised fault corridors — the Sugar Loaf Fault and the Scotts Craig Fault — both controlling structures for significant copper and gold mineralisation.

The Cobar Basin has seen a flurry of significant mining activities in recent years, underscoring the region’s robust potential for polymetallic resource development. One of the most recent examples of increasing M&A activity in this region is Harmony Gold’s US$1.03 billion acquisition of MAC Copper and the producing CSA copper mine in May 2025. In August 2024, Polymetals Resources (ASX:POL) finalized the acquisition of the Endeavor Mine, located 40 kilometers north of Cobar, which boasts JORC-compliant resources of 16.3 million tonnes grading 8 percent zinc, 4.5 percent lead, and 84 grams per ton (g/t) silver. In 2023, Metals Acquisition (NYSE:MTAL) successfully acquired the CSA copper mine from Glencore, further signalling the growing investment attractiveness of the Cobar Basin as a major hub for copper production.

These activities highlight a dynamic and competitive landscape that Mount Hope Mining can leverage for its own exploration strategy.

In 2025, Mount Hope launched its inaugural drilling campaign, targeting Mt Solitary for resource definition, and testing new greenfield prospect, including Blue Heeler and Black Hill. This marks a significant milestone as the company works toward defining its maiden JORC mineral resource estimate.

Company Highlights

  • Copper and gold exploration company based in Australia
  • 100 percent ownership of the Mount Hope project in the southern Cobar Basin, now covering 422 sq km across five exploration tenements
  • Regionally significant landholding with proximity to operating mines and processing facilities
  • Maiden drilling program commenced in August 2025, testing four high-priority prospects: Mt Solitary, Blue Heeler, Black Hill and Mt Hope East
  • Mt Solitary prospect hosts an Exploration Target of 1.32–1.87 Mt at 1 to 1.35 grams per ton gold (g/t) for 42.5 to 81.4 koz
  • Pipeline of over 40 earlier-stage exploration targets identified through geophysics and geochemistry
  • Experienced board and management team with proven track records in exploration, corporate governance and resource development

Key Project

Mount Hope

The Mount Hope project is the company’s flagship exploration asset, strategically located in the southern Cobar Basin. It comprises five granted exploration tenements (EL6837, EL8058, EL8290, EL8654, EL6902) spanning 422 sq km.

The project area is historically significant, hosting copper and gold mining since the 1870s. Historical production at the Mount Hope mine includes ~7,891 tonnes of copper metal at 10.5 percent copper between 1878 and 1919, with a further 4,000 tonnes mined in 1942. Despite this long history, the region remains underexplored with significant potential for “Cobar-style” polymetallic discoveries.

Prospects and Exploration Focus

  • Mt Solitary – Hosts an exploration target of 1.32 to 1.87 Mt @ 1 to 1.35 g/t gold for 42.5 to 81.4 koz. Resource definition drilling commenced in August 2025, supported by metallurgical test work.
  • Blue Heeler – Defined by strong EM conductors (600 m strike) and historical drill intercepts including 31 m @ 0.42 percent zinc, 0.26 percent lead, 117 parts per million (ppm) copper and 4.8 ppm silver from 56 m. Added to the maiden drill program in Q3 2025.
  • Black Hill – A lead-zinc-gold anomaly identified by Esso in 1975, now refined by modern geophysics. Planned 1,200 m RC program in Phase 1 drilling.
  • Mt Hope East – Adjacent to the historic Mt Hope copper mine (75,000 tonnes mined @ 10.5 percent copper) AC drilling designed to test geochemical and geophysical anomalies.

In addition to these advanced targets, Mount Hope has identified more than 40 early-stage prospects, consolidating a district-scale exploration pipeline across two major fault systems..

Strategic Location

The Mount Hope project benefits from its strategic location within the Cobar Basin, an established mining district with access to infrastructure and services. The recent resurgence of mining activity in and around the Cobar Basin, as demonstrated by Polymetals Resources’ acquisition of the Endeavor mine, and Metals Acquisition’s purchase of the CSA copper mine, underscores the region’s significance as a hub for resource development.

Mount Hope Mining aims to build on this momentum, leveraging both historical data and cutting-edge exploration methodologies to maximize the project’s potential. With its focus on copper and gold, commodities essential to green technologies and global markets, the Mount Hope project is well-positioned to contribute to the growth of Mount Hope Mining and the broader Australian resource sector.

Management Team

Fergus Kiley – Managing Director and CEO

Fergus Kiley plays a pivotal role in driving Mount Hope Mining’s exploration and growth strategies. He previously served as Senior Geologist and Technical Business Development Lead at Wyloo, one of Australia’s largest private natural resources investment groups. This role honed his expertise in exploration, geological modeling and project evaluation. Kiley also serves on the board of Grand Gulf Energy (ASX:GGE) and has over a decade of experience managing exploration programs for various ASX-listed companies. His leadership at Mount Hope focuses on leveraging modern exploration techniques and building partnerships to unlock the potential of the Mount Hope project.

Ben Phillips – Non-executive Chairman

Ben Phillips provides strategic oversight and governance to Mount Hope Mining. Appointed on July 5, 2024, he plays a vital role in ensuring the board operates effectively and aligns with the company’s objectives. Phillips’ leadership in other ventures and his focus on strong corporate governance bring additional credibility to Mount Hope’s public presence. His insights into the mining sector and his strategic vision position the company for sustainable growth.

Todd William – Non-executive Director

Todd Williams brings significant expertise in mining exploration and operations, particularly within the Cobar Basin. He is currently the managing director of Unico Silver (ASX:USL) and a Non-executive director of Orpheus Uranium (ASX:ORP). As the former owner of the Mount Hope project through Unico, William’s historical knowledge of the tenements is an invaluable asset. His extensive work in the region strengthens Mount Hope’s technical and operational strategies.

Paul Kiley – CFO and Company Secretary

Paul Kiley brings more than 30 years of leadership experience in the mining and oil & gas sectors. He has held key executive roles, including CFO and company secretary at Hillgrove Resources Limited (ASX:HGO) and director of corporate development for Newmont Corporation (NYSE:NEM) in the Asia-Pacific region. Kiley also served as group risk manager at Newmont and held senior positions with Occidental Oil & Gas (NYSE:OXY) in both Australia and the United States, contributing extensive expertise in corporate strategy, risk management and financial oversight.

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NextSource Materials Announces Positive Results of Technical & Economic Study for Proposed Battery Anode Facility in the UAE and Secures Industrial Site with Building in Abu Dhabi

NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) (‘NextSource’ or the ‘Company’) is pleased to announce positive results of a technical and economic study (the ‘Study’) on the construction of a proposed 30,000 tpa capacity battery anode facility (‘BAF’) located in the United Arab Emirates (‘UAE’). The Company further announces it has signed an agreement (the ‘Agreement’) to secure an industrial building in the Industrial City of Abu Dhabi (‘ICAD’) and has launched a strategic partner process to consider expressions of interest it has received for funding the UAE BAF.

Technical and Economic Study Highlights

  • Compelling phased-project economics with total capital costs of US$291 million, including sunk costs and working capital of US$7 million, with post-tax NPV8% of US$442 million and an IRR of 24%
  • The facility will be developed in two phases, with Phase 1 capital cost of US$150 million delivering AAM production of 14,000 tpa, more than satisfying Mitsubishi Chemical’s intial volume requirements of 9,000 tpa
  • Average annual forecasted revenues of US$195 million and annual EBITDA of US$76 million, at full production
  • Initial production planned for Q4 2026 with full production rate achieved in early 2028
  • Strategic partner process launched: discussions underway with offtake partners and several global debt and equity investors
  • Opportunities identified to further enhance the economics with debt funding and/or joint venture partnership

Property Agreement Highlights

  • Agreement signed to secure site and existing building in Abu Dhabi, UAE with easy access to process materials, markets, port and logisitcs infrastructure and major international shipping routes
  • Allows rapid installation of anode manufacturing equipment, and accelerated delivery of first anode product to Mitsubishi Chemical in 2026
  • Offers significant options to expand AAM production capacity to supply additional customers, who are currently engaged in advanced negotiations to secure anode material

This annoucement is a key milestone in the Company’s strategy to achieve full vertical integration by 2027.

The construction of a proposed BAF in the UAE would position NextSource to become the largest anode producer outside of Asia and is part of its global expansion strategy to construct BAFs in key geographic locations, each with modular production capacities, that can be expanded in lockstep with automotive manufacturer (‘OEM’) demand.

Stantec, a global engineering service provider and partner firm with NextSource, has completed a preliminary design and produced both a capital and operating cost estimate in line with AACEi guidelines as part of the Study to develop a UAE BAF.

The Study is based on a specific site and existing building that the Company has signed an agreement to secure in the ICAD, a major industrial free zone consisting of an existing, high-quality heavy industrial building requiring minimal modification with a significant land parcel that provides sufficient space to accommodate a 30,000 tpa capacity BAF.

The site and existing building arein an expedited permit zone, where an Environmental Impact Study and Assessment is not required to begin construction, and strategically situated along major international shipping routes and supported by extensive and world-class infrastructure, including local deep-water ports, industrial parks, and commercial free zones. It is immediately adjacent to a wide range of industries, including petrochemicals, refining, manufacturing, and logistics, offering easy access to raw materials, markets, and transportation networks, making the facility an attractive location for the Company to service domestic and international customers.

Hanré Rossouw, President and CEO commented,

‘Securing our facility in the UAE is a pivotal step in expediting NextSource’s downstream strategy under our offtake agreement with Mitsubishi Chemical Group, and the site’s readiness allows for rapid project execution. The results of our BAF Study confirms our unique position to deliver high-performance graphite anode material at scale, with compelling economics and a clear path to scalable commercial production. This milestone validates our global expansion strategy and reinforces our commitment to supporting the electric vehicle supply chain with vertically integrated, ESG-compliant solutions. We are excited to move forward with our strategic partners and have launched a process with debt and equity investors to unlock the full value of our proprietary technology and feedstock advantage.’

Partnership with Japan’s Mitsubishi Chemical Corporation

As announced on August 5, 2025, NextSource executed a binding, multi-year offtake agreement with Mitsubishi Chemical Corporation (‘Mitsubishi’) for the supply of approximately 9,000 tonnes per annum of AAM to the North American electric vehicle (‘EV’) market. The Company is the sole supplier of AAM to Mitsubishi and today’s announcement strongly supports the ability to satisfy the offtake agreement and other potential offtakes.

UAE BAF

The UAE BAF will be capable of producing natural graphite AAM for lithium-ion batteries used in EV applications, and serve as a secure, transparent, and fully traceable source of supply for battery and OEM customers, entirely decoupled from existing Chinese supply chains, and a critical alternative for US Government-compliant supply chains. Approximately 35% of the weight of a lithium-ion battery comprises of the anode and at least 95% of the anode is made from graphite, making it the most critical raw material of all battery metals (Benchmark Mineral Intelligence, July 2025).

The Company and Stantec have worked in conjunction with NextSource’s technology partners to develop a UAE-compliant plant design, using proven process technology to reduce qualification times. The Study included an assessment of the process design and equipment, an application of relevant design standards and codes, an analysis of future operational requirements, and an environmental permitting analysis. The facility will be installed in an existing building located in the ICAD and will leverage proven and established anode process technologies currently supplying intermediate anode active material to major OEMs.

Study Results

The proposed production capacity of 30,000 tpa, comprising 10,000 tpa of PFG, 16,000 tpa of SPG, and 4,000 tpa of coated SPG (‘CSPG’), accommodates the expected growth of Mitsubishi’s volume requirements beyond the initial 9,000 tpa and the expectation that the Company will secure additional volume capacities with other OEM offtakes. The facility will be developed in two phases, with the initial phase (Phase 1) targeting an annual production capacity of 14,000 tpa of AAM, comprising 10,000 tpa of purified flake graphite (‘PFG’) and 4,000 tpa of spherical purified graphite (‘SPG’).

Total capital costs are US$291 million, inclusive of US$13 million of sunk costs and working capital of US$7 million, with Phase 1 estimated to cost an initial US$150.2M.

The following presents the economic results of the UAE BAF with a proposed production capacity of 30,000 tpa.

  • Assumes Project is financed with 100% equity.
  • CAPEX includes process equipment, ancillary civil & infrastructure, electrical and utilities, project and construction services, and contingency of $31.5 million.
  • Working capital for first 6 months of operation and raw materials inventory.
  • As measured from start of operation and assumes no inflationary adjustments in sales price or operating costs .
  • Average over the life of the operation and excludes royalties, taxes, depreciation, and amortization .
  • Based on projected contract pricing and Benchmark Minerals Intelligence (BMI) forecast data for flake graphite from Q2 2025. Excludes sales of graphite fines and other by-products.

Note: Unless otherwise noted, all monetary figures presented throughout this press release are expressed in US dollars (USD). Capital cost estimates were prepared by Stantec Inc. to a confidence level of [+/- 25%] and are preliminary in nature. These results should not be relied upon for investment decisions. The BAF Study is not a technical report for the purposes of National Instrument 43-101 but rather is a technical study relating to the design, construction, and operation of the UAE BAF.

Next Steps

The next steps for the Company are to conclude legal documentation and approvals for the land and building acquisition, which will enable the transport of BAF processing equipment to the UAE. In parallel, the Company will finalize the front-end engineering and design in preparation for project execution.

Informed by the outcomes of this Study, the final investment decision and financing options will be considered to advance the project into execution. As part of the strategic partner process, the Company is in active discussions with offtake partners and several debt and equity investors globally that have expressed interest in funding the construction of the UAE BAF.

After obtaining the required funding and concluding operating permits, the Company will procure the remaining plant equipment, after which the Project will move into the installation phase and finally into commissioning, which is targeted towards the end of 2026. The process will also include engagement with KEZAD, the government organization in charge of ICAD, and other regulatory authorities to finalise permitting and approvals required for installation and production.

Stantec has prepared a preliminary site layout and conceptual designs for the Project, integrating the provided vendor equipment designs, partner recommendations, and site constraints. These designs will be further developed and adapted in the future detailed engineering and design phase to incorporate site-specific details. NextSource will engage with regional contractors to provide location-specific operational requirements, legal and regulatory requirements, technical criteria, operational specifications, equipment selection, and mitigation of environmental impacts. Regional contractors will also complete civil and non-process critical design elements.

The project will leverage proven process technologies and benefit from strategic partnerships with leading industry players. NextSource is committed to operating the facility in compliance with international standards and UAE regulations, ensuring the highest levels of safety, environmental sustainability, and social responsibility.

Investor Conference Call

Chief Executive Officer Hanré Rossouw, Chief Financial Officer Jaco Crouse and Chief Commercial Officer Craig Scherba will host a conference call at 9:00am EST on October 6th, 2025, to comment on the latest annual financials and MD&A.

To join the webcast, participants should access the following link:

https://www.webcaster5.com/Webcast/Page/3080/53051

To dial in by phone:
Toll Free: 888-506-0062
International: 973-528-0011
Participant Access Code: 362480

A recording of the call will also be available on NextSource’s website within a 48-hour period.

About Stantec

Stantec is headquartered in Edmonton, AB, Canada and is a publicly traded engineering and design consultancy. With over 30,000 employees in 450 offices and across 6 continents, Stantec delivers sustainable and innovative design solutions for their customers. For more information visit www.stantec.com .

About NextSource Materials Inc.

NextSource Materials Inc. is a battery materials company based in Toronto, Canada that is intent on becoming a vertically integrated global supplier of battery materials through the mining and value-added processing of graphite and other minerals.

The Company’s Molo graphite project in Madagascar is one of the largest known and highest-quality graphite resources globally, and the only one with SuperFlake® graphite. The Molo mine has begun production through Phase 1 mine operations.

The Company is also developing a significant downstream graphite value-add business through the staged rollout of Battery Anode Facilities capable of large-scale production of coated, spheronized and purified graphite for direct delivery to battery and automotive customers, in a fully transparent and traceable manner. The Company is now in the process of developing its first BAF in the UAE.

NextSource Materials is listed on the Toronto Stock Exchange under the symbol ‘NEXT’ and on the OTCQB under the symbol ‘NSRCF’.

For further information about NextSource Materials, please visit our website at www.nextsourcematerials.com or contact us at +1.416.364.4911 or email Brent Nykoliation, Executive Vice President at brent@nextsourcematerials.com ,

Safe Harbour: This press release contains statements that may constitute ‘forward-looking information’ or ‘forward-looking statements’ within the meaning of applicable Canadian and United States securities legislation. Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward looking statements and information are frequently characterized by words such as ‘plan’, ‘expect’, ‘project’, ‘intend’, ‘believe’, ‘anticipate’, ‘estimate’, ‘potential’, ‘possible’ and other similar words, or statements that certain events or conditions ‘may’, ‘will’, ‘could’, ‘expected’ or ‘should’ occur. Forward-looking statements include any statements regarding, among others, timing of construction and completion of the BAF and proposed timing of future locations of additional BAFs, timing and completion of front-end engineering and design and ESIA permitting, the economic results of the BAF Technical Study including capital costs estimates, operating costs estimates, payback, NPV, IRR, production, sales pricing and working capital estimates, the construction and potential expansion of the BAFs, expansion plans, as well as the Company’s intent on becoming a fully integrated global supplier of critical battery and technology materials. These statements are based on current expectations, estimates and assumptions that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by the Company and described in the forward-looking statements contained in this press release. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do so, what benefits the Company will derive there from. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether because of new information, future events or otherwise, except as may be required by applicable securities laws. Although the forward-looking statements contained in this news release are based on what management believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with them. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.

Source

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Stellar AfricaGold Inc Intersects Multiple Wide High-Grade Gold Zones including 13 meters of 6.12 g/t Au in First Drill Hole at Tichka Est; Drill Program Continues.

(TheNewswire)

Vancouver, British Columbia TheNewswire – October 2, 2025 – Stellar AfricaGold Inc. (TSX-V: SPX) (‘Stellar’ or the ‘Company’) is pleased to report significant assay results from its first drill hole at the Tichka Est G old P roject, part of the ongoing 1,500-meters summer diamond drill program at the Zone B gold discovery, an area of approximately one square kilometer within Stellar’s 82km 2 permit area in Morocco.

Highlights

  • First Drill Hole TCK-001 intersected13 meters of 6.12 g/t Au including 2 meters of 22.28 g/t Au , and
    • 16 meters of 1.98 g/t Au including 1 meter of 11.55 g/t Au
    • Mineralisation is mainly hosted in sub-horizontal diorite sills , confirming continuity of favorable lithology.
  • A total of 492.8 meters of diamond core drilled to date across three holes in Zone B. One drill rig currently operating, with drilling progress averaging approximately 10.5 meters of diamond core per day.

(Composite interval s include 0.1g/t Au cut-off & maximum internal dilution of 3m.)

Figure 1. High grade (22.28 g/t Au) mineralized section of Diorite sill 2

Table 1: Assay Highlights

Hole ID

Length (m)

Azimuth (°)

Dip (°)

From (m)

To (m)

Interval Length (m)

Gold (g/t)

TCK-001

201.9

65

-45

83

93

99

94

16

including 1

1.98

11.55

125

125

138

127

13

including 2

6.12

22.28

(Note : The down hole intersections are not a true thickness. The true thickness is not known.)

Click Image To View Full Size

Figure 2. A cross section of TCK-001 highlighting the two zones of gold mineralization

hosted within sub-horizontal diorite sills .

Click Image To View Full Size

Figure 3. A plan section showing location of TCK-001 drill hole (top of image) relative to the surface mechanical trenches and the previous RC drill campaign (center and lower of image).

Detail of Results

Diamond drill hole TCK-001 was designed to test the interpreted mineralized sub-horizontal diorite sills, which act as both lithological and structural controls to gold mineralization.

Two well-defined mineralized zones were intersected:

  • Within Diorite 1 between 83–99 meters: 16 m of 1.98 g/t Au , including 1 m of 11.55 g/t Au
  • Within Diorite 2 between 125–138 meters: 13 m of 6.12 g/t Au , including 2 m of 22.28 g/t Au
  • Within Diorite 3 the mineralization encountered in previous surface trenching of the third diorite zone was not encountered in drill hole TCK-001 consistent with the absence of veining or fracturing in the core.

These intersections support the geological model developed for Tichka Est Zone B and provide strong encouragement for expansion of the drilling program.

Operations Update

Diamond d rilling has now totaled 492.8 meters across three holes , with core from holes TCK-002 and TCK-003 confirming the presence of the sulphide-bearing sub-horizontal diorite sills previously encountered in hole TCK-001.

Drilling is progressing at an average rate of approximately 10.5 meters per day. Recently progress was temporarily hampered by fractured zones down hole requiring cementing to reduce water loss, on site water supply logistics, and weather-related impacts requiring repairs to roads and drill platforms. Despite these operational challenges, drilling continues steadily, with excellent core recoveries achieved.

Next Steps

  • Continue drilling the planned 1500-meters diamond drill program to test lateral continuity and down-dip extensions of sulphide-bearing sub-horizontal diorite sills, and
  • Update geological, structural, and alteration models with new data.
  • Continue reconnaissance exploration throughout the Tichka Est Gold Project 82 km permits area.

Management Commentary

‘Drill hole TCK-001 at Tichka Est has confirmed the presence of a very promising gold system,’ said J. François Lalonde, President and CEO of Stellar AfricaGold. ‘With mineralization now confirmed at depth, we are becoming increasing confident in the potential of the Tichka Est Gold Project and are excited to expand both our current drilling program to test continuity of mineralization and additional new targets as we advance the Zone B gold discovery. Additionally, our surface reconnaissance exploration of the numerous other areas of interest within the 82km 2 permit area of Tichka Est will continue.’

‘Alongside these exciting results, Stellar wishes to announce the relaunch of our Company newsletter . The revamped newsletter aims to keep stakeholders and shareholders informed with transparent, timely updates. Subscribe here to be the first to receive corporate updates, press releases, and third-party media coverage as it breaks.’

About the Tichka Est Zone B Gold Discovery

The identified Zone B structures are within an approximately 1 km2 area of the 82 km2 total area of the Tichka Est Gold Project. To date, Stellar has built an 8.5-kilometer mountain access road and conducted extensive mapping, sampling and trenching focussing on the regions in and around Zone B. Thus far three significant zones of gold mineralization have been discovered with much of the overall Tichka Est project area still unexplored or only superficially examined.

At the Zone B several programs of mechanical and hand trenches delivered a series of impressive assay results including trenches MT1 3.5 g/t gold over 155.7 meters 1 , MT2 1.52 g/t gold over 39.7 meters and 1.58 g/t Au over 8.6 meters 4 , MT3 1.27 g/t gold over 80 meters 4 , T7B 3.4 g/t gold over 20 meters 3 , T6B 3.4 g/t gold over 17 meters 3 , and T2B 4.56 g/t gold over 15 meters 2 . Zone B is the primary exploration target for 2025 although Stellar will continue reconnaissance exploration throughout the Tichka Est Gold Project permits area.

1 News Release October 4, 2022

2 News Release April 19, 2021

3 News Release October 25, 2021

4 News Release January 25, 2022

Technical Disclosure

The drilling campaign at Tichka Est is being conducted by two geologists from the African Bureau of Mining Consultants, under the supervision of Mr. Yassine Belkabir.

Diamond drilling was conducted using HQ diameter core. Core runs were retrieved every 3.0 m or less, with recovery measured and recorded for each run. Average recovery in reported intervals exceeded 99%. Core was oriented with a Reflex ACT III tool, photographed (wet and dry), and logged for lithology, alteration, mineralization, and structure.

Sampling intervals for assay were typically one metre in length, defined by geological boundaries. Core was cut with a diamond saw, half-core archived, and half-core submitted for analysis.

Sample preparation and assaying were performed by Afrilab in Marrakech , an ISO-certified laboratory independent of the Company. Samples were crushed to 70% passing 2 mm, split to 250 g, and pulverized to 85% passing 75 μm. Gold assays were performed using 50 g fire assay with an atomic absorption spectroscopy (AAS) finish . Over-limit assays (>5 g/t Au) were re-assayed with gravimetric finish.

QA/QC program consisted of 8 reference materials (standards) and 8 blanks inserted by geologists at regular intervals. In addition, Laboratory QA/QC protocols included internal blanks, standards, and duplicates, with performance reported to the exploration team for independent review. No material QA/QC issues were noted in the batches reported.

About Stellar AfricaGold Inc.

Stellar AfricaGold Inc. is a Canadian precious metal s exploration company focused on North and West Africa, with active programs in Morocco and Côte d’Ivoire. Stellar’s principal exploration projects are its advancing gold discovery at the Tichka Est Gold Project in Morocco, and its early-stage exploration Zuénoula Gold Project in Côte d’Ivoire.

The Company is listed on the TSX Venture Exchange ( TSX.V: SPX ) , the Tradegate Exchange ( TGAT: 6YP ) and the Frankfurt Stock Exchange ( FSX: 6YP ) .

The Company maintains its head office in Vancouver, BC and has a representative office in Casablanca, Morocco.

The technical content of this press release has been reviewed and approved by M. Yassine Belkabir, MScDIC, CEng, MIMMM, a Stellar director and a Qualified Person as defined in NI 43-101.

Stellar’s President and CEO J. François Lalonde can be contacted at +1 514-994-0654 or by email at lalondejf@stellarafricagold.com

Additional information is available on the Company’s website at www.stellarafricagold.com.

On Behalf of the Board

J. François Lalonde

J. François Lalonde

President & CEO

This news release contains ‘forward-looking statements’ within the meaning of applicable Canadian securities laws. Forward-looking statements are based on expectations, estimates and projections as at the date of this news release and are subject to known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied. Such risks and uncertainties include, but are not limited to, the Company not achieving the production milestones described herein, changes in business plans or commodity prices, failure to obtain regulatory approvals, and the risk factors described in the Company’s most recent Management’s Discussion and Analysis and Annual Information Form, which are available on SEDAR+ at www.sedarplus.ca . Forward-looking statements are not guarantees of future performance and should not be unduly relied upon. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements contained herein.

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.

Copyright (c) 2025 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

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Quimbaya Identifies Mineralized High-Sulfidation Porphyry System at Surface at Tahami

Surface work confirms Cu-Mo-Au mineralization, classic porphyry type style-alteration, and active gold workings, reinforcing district-scale upside at Quimbaya’s flagship project in Colombia.

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

Quimbaya Gold Inc. (CSE: QIM,OTC:QIMGF) (OTCQB: QIMGF) (FSE: K05) (‘Quimbaya’ or the ‘Company’) is pleased to report the identification of a large, multi-kilometer Cu-Mo-Au porphyry-style target at surface within its 100%-owned Tahami Center Project in Antioquia, Colombia. Located approximately 2.5 kilometers northeast of the Company’s active drill program at Tahami South, the target spans a 2.0 by 1.4-kilometer footprint and exhibits hallmark porphyry characteristics confirmed by surface mapping, mineralogy, and geochemical anomalies.

Importantly, multiple artisanal gold workings are active within the footprint, confirming near-surface gold mineralization and reinforcing the system’s potential as a preserved porphyry system with a vertically zoned epithermal overprint.

Key Highlights

  • Large Surface Footprint: 2.0 km x 1.4 km target with preliminary mapped porphyry-style alteration and veinlets.
  • High-Sulfidation Epithermal Overprint: Presence of a preserved lithocap with advanced argillic alteration (alunite-pyrophyllite-dickite-kaolinite) confirms a high-sulfidation system at surface. These environments are globally recognized for hosting high-grade gold zones and often occur above or adjacent to copper-gold-molybdenum porphyry systems, supporting the interpretation of a vertically zoned, mineralized system.
  • Complete Porphyry Signature: Potassic (biotite-magnetite), quartz-sericitic and advanced argillic zones confirmed by Terraspec analysis.
  • Veinlet Suite: Full porphyry veinlet sequence (A, M, EB, B, D) identified across multiple stations.
  • Surface Mineralization: Copper oxides, molybdenite, chalcocite, chalcopyrite and copper sulfates (chalcanthite, brochantite) observed in outcrops.
  • Preliminary Geochemistry: Preliminary rock channels with 2.10m @ 0.12% Cu, 301 ppm Mo, 0.10 g/t Au; stream sediments return up to 304.5 ppm Cu, 66 ppm Mo, 0.29 g/t Au, and gold in pan.
  • Strategic Location: Within the same corridor as Aris Mining’s Segovia operations and just 2.5 km from Quimbaya’s current drill pads.

Figure 1. District Location Map: Tahami South Project and Tahami Center Project.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11347/268861_e6b48ffd5468a922_001full.jpg

‘This kind of result doesn’t come as a surprise, it’s the outcome of years spent assembling a high-quality portfolio in a region we know well,’ said Alexandre P. Boivin, CEO of Quimbaya Gold.

‘What we’re seeing at surface, including artisanal mining within the footprint, is a direct reflection of the geological potential we believed was there from the beginning. The fact that it’s so close to where we’re actively drilling at Tahami South makes it a natural extension of our exploration work and a testament to the strength of the entire Quimbaya team.’

Contextual Significance

Colombia is globally recognized for its high-grade epithermal gold veins, particularly in the Segovia belt, but porphyry systems, especially those with Cu-Mo-Au potential, remain one of the country’s most underexplored geological domains. The scale, preservation, and surface expression of the mineralized system at Tahami suggest a rare geological setting with clear exploration potential. With one of the few consolidated land positions in the region, Quimbaya is well positioned to advance porphyry and high-sulfidation exploration in one of Colombia’s most productive gold districts.

Technical Overview

Surface mapping and geochemical sampling have delineated a porphyry type system consistent with preserved high-level mineralization.

  • Alteration Zonation:
    • Potassic Sodic: Biotite-magnetite ± Albite
    • Phyllic overprint: Quartz-sericite
    • Advanced argillic lithocap: Alunite-pyrophyllite-dickite-kaolinite, confirmed by Terraspec (Universidad Nacional de Colombia)
  • Veinlet Types:
    • A, M, EB, B, and D veinlets mapped, consistent with well-developed porphyry systems.
  • Mineralization Observations:
    • Chalcopyrite, chalcocite, molybdenite in outcrops
    • Secondary copper sulfates (chalcanthite, brochantite) at surface
    • Visible gold observed during stream sediment panning

Figure 2. Preliminary geochemistry: the first two prospects have been identified in the property related with high mineralisation of copper/molybdenite and epithermal gold veins.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11347/268861_e6b48ffd5468a922_002full.jpg

Table 1. Robusta Prospect underground channel rock sampling highlights

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11347/268861_e6b48ffd5468a922_003full.jpg

* Pending assay results for 54 meters of underground channel rock samples

Table 2. Stream sediments sampling highlights

Prospect Sample_id Type Au ppb Cu ppm Mo ppm
Robusta QG_000221 Stream Sediments 8.00 137.60 66.00
Robusta QG_000230 Stream Sediments 7.00 304.50 19.00
Robusta QG_000238 Stream Sediments 289.00 133.10 24.00
Bourbon QG_000236 Stream Sediments 123.00 157.80 27.00

 

* Pending multi-element assay results for 8 stream sediment samples

Figure 3. Porphyry Footprint outcrops with strong alteration zones, and porphyry type veinlets.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11347/268861_e6b48ffd5468a922_004full.jpg

‘Identifying a textbook porphyry system with visible copper and molybdenite at surface, and active gold extraction from epithermal veins strongly validates our district-scale model at Tahami,’ said Ricardo Sierra, VP Exploration of Quimbaya Gold. ‘The alteration zoning, veinlet architecture, and early geochemical signatures are highly consistent with porphyry copper systems globally.’

Figure 4. Porphyry Footprint outcrops with strong Advance Argillic alteration and quartz-sericitic alteration.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11347/268861_e6b48ffd5468a922_005full.jpg

Figure 5. Porphyry type veinlets stockwork and mineralisation. Chalcopyrite (Cpy), Chalcocite (Cc), Chalcanthite (Chal), Brochantite (Bro), Magnetite (Mt).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11347/268861_e6b48ffd5468a922_006full.jpg

Sample preparation and analysis

Quimbaya Gold used SGS laboratory to prepare and assay samples collected on the Tahami Project. These include SGS Medellin and SGS Peru for preparation and analysis. SGS preparation and Fire Analysis in the SGS laboratory in Medellin Colombia, and SGS multielement analysis located in Peru.

Rock samples delivered to SGS were prepared in Medellin, samples were received and labelled, dry at 100°C +- 5°C, primary crushing in a jaw crusher to 95% passing 20 mesh, secondary crushing with roll mill ant slow revolution, cleaning with compressed air and quartz, with 85% passing 10 mesh, with every 10 sampled control and granulometry, riffle split coarse crushed sample in jones splitter, to extract 250 to 500 gr; Pulverization of samples is completed in a ring mill, with >95% passing 140 sieve and cleaning with clean sand. Samples were assayed for Fire Assay for Au in Medellin using FAA313 and FAG303 method, and multielement analysis in Peru using ICP40B0 method.

Stream sediments samples delivered to SGS were prepared in Medellin, samples were received and labelled, previously air drying (inhouse) and dry at 60°C +- 5°C, 100% passing -80 mesh; pulverization of samples is completed in a ring mill, with >95% passing -140 sieve and cleaning with clean sand. Samples were assayed for Fire Assay for Au in Medellin using FAA313, FAG303 and AAS12C method, and multielement analysis in Peru using ICP40B, in line with QA/QC best practices.

The insertion rate is acceptable for CRM’s, field duplicates and blanks. Quimbaya Gold procedures require 7 blanks, 3 duplicates and 3 CRM’s (OREAS 501d, OREAS 506) per 104 samples submitted for the current Batch_031, Batch_032 and Batch_035. To date Quimbaya Gold an insertion percentage of 12.5%, sufficient to judge the quality of sampling and assaying. The author reviewed QAQC and expresses satisfaction that they generally demonstrate a high degree of accuracy at the assaying SGS laboratory. Standard deviations were used as control gates for submitted CRM’s (3x and 2x).

Qualified Person

Quimbaya’s disclosure of technical and scientific information in this press release has been reviewed and approved by Ricardo Sierra (AusIMM), the Vice President Exploration for the company, who serves as a Qualified Person under the definition of National Instrument NI-43 101.

Regulatory Disclosure Update

Further to the Company’s news release dated September 22, 2025, Quimbaya Gold Inc. wishes to clarify and amend its previous disclosure regarding investor relations and promotional activity, in accordance with CSE Policy 7.3(1). The Company has entered into agreements with three independent third parties. CEO.CA Technologies Ltd. (1600 – 595 Burrard Street, Vancouver, BC V7X 1L3, Canada; info@ceo.ca; 1-800-665-5300) was retained to provide sponsored banner placements and digital awareness campaigns on www.ceo.ca for a term of three months beginning September 18, 2025, for a total cash consideration of C$15,000. TNM Media Group (The Northern Miner, 365 Bloor Street East, 16th Floor, Toronto, Ontario M4W 3L4, Canada; info@northernminer.com; 416-510-6789) was engaged to deliver sponsored content, banner advertising, and investor outreach across its digital platforms at www.northernminer.com, beginning September 20, 2025, for a four-month term and total compensation of C$20,000. Lastly, Spark Newswire Inc. (Suite 800, 885 West Georgia Street, Vancouver, British Columbia V6C 3H1, Canada; steve@sparknewswire.com; 647-800-1885) was contracted to amplify press releases and conduct promotional marketing through targeted financial media and digital channels, commencing September 18, 2025, for a period of four months and total compensation of US$75,000. Spark’s distribution platforms include www.sparknewswire.com, its affiliate www.spartantrading.com, and major newswire distribution services such as PR Newswire (www.newswire.ca), Cision (www.cision.ca), and GlobeNewswire (www.globenewswire.com). None of these service providers hold any securities or options in Quimbaya Gold Inc., and all engagements are conducted on a fully independent basis.

About Quimbaya

Quimbaya aims to discover gold resources through exploration and acquisition of mining properties in the prolific gold mining districts of Colombia. Managed by an experienced team in the mining sector, Quimbaya is focused on three projects in the regions of Segovia (Tahami Project), Puerto Berrio (Berrio Project), and Abejorral (Maitamac Project), all located in Antioquia Province, Colombia.

Contact Information

Alexandre P. Boivin, President and CEO apboivin@quimbayagold.com

Sebastian Wahl, VP Corporate Development swahl@quimbayagold.com

Quimbaya Gold Inc.
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Cautionary Statements

Certain statements contained in this press release constitute ‘forward-looking information’ as that term is defined in applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, but not always, forward-looking statements and information can be identified by the use of forward-looking terminology such as ‘intends’, ‘expects’ or ‘anticipates’, or variations of such words and phrases or statements that certain actions, events or results ‘may’, ‘could’, ‘should’, ‘would’ or ‘occur’. Forward-looking statements herein include statements and information regarding the Offering’s intended use of proceeds, any exercise of Warrants, the future plans for the Company, including any expectations of growth or market momentum, future expectations for the gold sector generally, the Colombian gold sector more particularly, or how global or local market trends may affect the Company, intended exploration on any of the Company’s properties and any results thereof, the strength of the Company’s mineral property portfolio, the potential discovery and potential size of the discovery of minerals on any property of the Company’s, including Tahami South, the aims and goals of the Company, and other forward-looking information. Forward-looking information by its nature is based on assumptions and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Quimbaya to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These assumptions include, but are not limited to, that the Company’s exploration and other activities will proceed as expected. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: future planned development and other activities on the Company’s mineral properties; an inability to finance the Company; obtaining required permitting on the Company’s mineral properties in a timely manner; any adverse changes to the planned operations of the Company’s mineral properties; failure by the Company for any reason to undertake expected exploration programs; achieving and maintaining favourable relationships with local communities; mineral exploration results that are poorer or better than expected; prices for gold remaining as expected; currency exchange rates remaining as expected; availability of funds for the Company’s projects; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; the Offering proceeds being received as anticipated; all requisite regulatory and stock exchange approvals for the Offering are obtained in a timely fashion; investor participation in the Offering; and the Company’s ability to comply with environmental, health and safety laws. Although Quimbaya’s management believes that the assumptions made and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. Readers are cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Quimbaya as of the date of this news release and, accordingly, is subject to change after such date. Except as required by law, Quimbaya does not expect to update forward-looking statements and information continually as conditions change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/268861

News Provided by Newsfile via QuoteMedia

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