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December 3, 2025

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On about two dozen occasions, the Supreme Court had to step in during President Trump’s second term because many inferior courts refused to accept that he is the president. The justices must do so again, after lower courts invalidated the appointments of acting U.S. attorneys Alina Habba of the District of New Jersey and Lindsey Halligan of the Eastern District of Virginia.

The Senate has a tradition that is over a century old called the blue slip. Home-state senators have an extraordinary power: the ability to veto U.S. marshals, U.S. attorneys, and U.S. district judges. In order for nominees to proceed, home-state senators must return a blue slip approving the nominations. Senators will never let this power go, so administrations have to bear the consequences. In New Jersey, leftist senators Cory Booker and Andy Kim have refused to allow the nomination of Alina Habba to serve as U.S. Attorney. Likewise, in Virginia, their fellow leftist senators Tim Kaine and Mark Warner will not acquiesce to the nomination of Lindsey Halligan to serve as U.S. Attorney. As such, Attorney General Pam Bondi appointed Habba and Halligan to 120-day terms to serve on an interim basis, as 28 U.S.C. § 546 allows. Halligan replaced another interim prosecutor, Eric Siebert, who departed shortly before his 120 days lapsed.

After 120 days have expired, leftists asserted that Bondi can make no more appointments, only district judges can. The Executive Branch, this argument goes, has no say whatsoever after 120 days. This result would lead to a scheme where leftist senators can block President Trump’s nominees. Then, courts composed mostly of leftist judges in these blue states can install leftist puppet U.S. attorneys, and the Executive Branch must grin and bear it, just as with the blue slip process.

The 120-day limit first appeared in a statute in 1986. During the years of presidents Clinton and Bush, attorneys general made successive 120-day appointments under the statutory scheme in effect from 1986-2006, the same scheme as today. Yet, Clinton Judge Cameron Currie of South Carolina did not view this historical evidence as persuasive when she invalidated Halligan’s appointment. Halligan secured indictments against New York Attorney General Letitia James for mortgage fraud and former FBI Director James Comey for false statements to and obstruction of Congress concerning the Russiagate hoax.

Those indictments are, for the moment, invalid. Currie’s opinion drips with disdain for Halligan, noting Halligan’s lack of prosecutorial experience. This issue is irrelevant to the legal question. Halligan, under Currie’s analysis, could have had three decades of prosecutorial experience, and her appointment would still have violated the Constitution’s Appointments Clause. Currie also quoted another irrelevant piece of evidence: President Trump’s social media post demanding Bondi move faster on prosecutions. Whether Halligan’s appointment is valid has nothing to do with that post. Its inclusion thus has no valid legal purpose.

The Appointments Clause vests appointment power in a president, by and with the advice and consent of the Senate, for principal officers. Congress can also require the advice and consent process to apply to inferior officers, and it did so with respect to U.S. attorneys. As such, presidents nominate U.S. attorneys, and the Senate confirms them. When there are vacancies, attorneys general can fill them for 120 days at a time, and a separate part of Section 546 allows for district courts to make appointments after the 120 days have expired. The Constitution grants department heads and courts the power to appoint inferior officers. District judges, for example, appoint magistrate judges.

Section 546 does not vest the authority to appoint U.S. attorneys exclusively in district courts. Under the reading of the judges who have invalidated the appointments of Habba and Halligan, a future President J.D. Vance’s attorney general could not make a 120-day appointment, either. The text of Section 546 does not specify a 120-day appointment per president. When one president’s attorney general makes a 120-day appointment, these judges absurdly prevent any future president’s attorney general from doing so in that district. District judges therefore have all the power until the Senate confirms a nominee one of these years or decades.

Fortunately, the issue now is ripe for Supreme Court review. This week, a Third Circuit panel ruled that Habba’s appointment is invalid. The justices should decide the cases together, even though the Fourth Circuit has not ruled on the Halligan appeal. There is only one circuit with all states that have Republican senators: the Fifth. This district court control could continue into the terms of a President Vance.

The easiest way to correct the lower court’s error is for the Supreme Court to hold that Section 546 allows attorneys general to make more than one 120-day appointment. Alternatively, the justices could hold that Section 546’s stripping of appointment power from the Executive Branch with respect to its officials violates the separation of powers.

In the face of immense criticism from Democrat politicians, the leftist media, and academic elites, the justices have intervened time and again to thwart unlawful interference by resistance lower courts. Because of the Supreme Court’s intervention on issues ranging from the ability to fire Executive Branch employees to the ability of the president to revoke temporary protected status from illegal immigrants, President Trump has been able to do his job far more effectively.

Bondi, Solicitor General John Sauer, and their team of stellar lawyers have amassed a success rate of over 90% at the Supreme Court. The justices must restore Habba and Halligan to preserve the separation of powers and prevent U.S. attorneys from being servants of district courts instead of presidents.

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Secretary of War Pete Hegseth chastised the press following media reports that he signed off on a second strike against an alleged drug boat after the first one left survivors. 

The Trump administration has come under renewed scrutiny for its strikes in the Caribbean targeting alleged drug smugglers, after the Washington Post reported on Friday that Hegseth verbally ordered everyone onboard the alleged drug boat to be killed in a Sept. 2 operation. The Post reported that a second strike was conducted to take out the remaining survivors on the boat. 

On Monday, the White House confirmed that a second strike had occurred, but disputed that Hegseth ever gave an initial order to ensure that everyone on board was killed, when asked specifically about Hegseth’s instructions.

Hegseth said that he watched the first strike live, but did not see any survivors at that time amid the fire and the smoke — and blasted the press for their reporting.

‘This is called the fog of war. This is what you in the press don’t understand,’ Hegseth told reporters at a Cabinet meeting on Tuesday. ‘You sit in your air-conditioned offices or up on Capitol Hill and you nit pick, and you plant fake stories in the Washington Post about ‘kill everybody’ phrases on anonymous sources not based in anything, not based in any truth at all. And then you want to throw out really irresponsible terms about American heroes, about the judgment that they made.’ 

Hegseth said that after watching the first strike, he left for a meeting and later learned of the second strike. The White House said Monday that Hegseth had authorized Adm. Frank ‘Mitch’ Bradley to conduct the strikes, and that Bradley was the one who ordered and directed the second one. 

At the time of the Sept. 2 strike, Bradley was serving as the commander of Joint Special Operations Command, which falls under U.S. Special Operations Command. He is now the head of U.S. Special Operations Command.

According to Hegseth, carrying out a subsequent strike on the alleged drug boat was the right call. 

‘Admiral Bradley made the correct decision to ultimately sink the boat and eliminate the threat,’ Hegseth said Tuesday. 

Meanwhile, reports of the second strike have attracted even more scrutiny from lawmakers on both sides of the aisle on Capitol Hill and calls for greater oversight, amid questions about the strikes’ legality. 

‘This committee is committed to providing rigorous oversight of the Department of Defense’s military operations in the Caribbean,’ Reps. Mike Rogers, R-Ala., and Adam Smith, D-Wash., who lead the House Armed Services Committee, said in a statement on Saturday. ‘We take seriously the reports of follow-on strikes on boats alleged to be ferrying narcotics in the SOUTHCOM region and are taking bipartisan action to gather a full accounting of the operation in question.’

Hegseth said Tuesday that although there has been a pause in strikes in the Caribbean because alleged drug boats are becoming harder to find, the Trump administration’s campaign against the influx of drugs will continue. 

‘We’ve only just begun striking narco-boats and putting narco-terrorists at the bottom of the ocean because they’ve been poisoning the American people,’ Hegseth said. 

The Trump administration has carried out more than 20 strikes against alleged drug boats in Latin American waters, and has bolstered its military presence in the Caribbean to align with Trump’s goal to crack down on the influx of drugs into the U.S.

This post appeared first on FOX NEWS

The Defense Department inspector general report analyzing the use of messaging app Signal to share classified information, particularly in planning for Houthi strikes in March, will be released on Thursday. 

A classified version of the report has been handed over to the Senate Armed Services Committee and an unclassified, redacted version will be made public, a source familiar with the process told Fox News Digital after Axios first reported it. 

Trump administration officials used Signal to discuss sensitive military strikes against the Houthis in Yemen in March. Then-national security advisor Mike Waltz had created the chat, which included many of Trump’s top Cabinet members, and inadvertently added Jeffrey Goldberg, editor-in-chief of the Atlantic.

The IG launched a probe in April following requests from top lawmakers on the hill. It was intended to examine whether Hegseth improperly discussed operational plans for a U.S. offensive against the Houthis in Yemen and will also review ‘compliance with classification and records retention requirements,’ according to a memo from Inspector General Steven Stebbins.

Hegseth’s Signal messages revealed F-18, Navy fighter aircraft, MQ-9s, drones and Tomahawks cruise missiles would be used in the strike on the Houthis.

‘1215et: F-18s LAUNCH (1st strike package),’ Hegseth said in one message notifying the chat of high-level administration officials that the attack was about to kick off.

‘1345: ‘Trigger Based’ F-18 1st Strike Window Starts (Target Terrorist is @ his Known Location so SHOULD BE ON TIME – also, Strike Drones Launch (MQ-9s)’ he added, according to the report.

‘1410: More F-18s LAUNCH (2nd strike package)’

‘1415: Strike Drones on Target (THIS IS WHEN THE FIRST BOMBS WILL DEFINITELY DROP, pending earlier ‘Trigger Based’ targets)’

‘1536 F-18 2nd Strike Starts – also, first sea-based Tomahawks launched.’

‘MORE TO FOLLOW (per timeline)’

‘We are currently clean on OPSEC’ — that is, operational security.

Waltz later wrote that the mission had been successful. ‘The first target — their top missile guy — was positively ID’d walking into his girlfriend’s building. It’s now collapsed.’

Trump administration officials have insisted that nothing classified was shared over the chat. The report should offer clarity on that claim.

Thursday will be a contentious day for the Pentagon — Admiral Mitch Bradley, commander of Special Operations Command, will also be on Capitol Hill to offer his account of the Sept. 2 ‘double tap’ strike on alleged narco-traffickers. 

After one strike on a boat carrying 11 people and allegedly carting drugs toward the U.S. left two survivors clinging to the wreckage, Bradley ordered another to take out the remaining smugglers.

Lawmakers and legal analysts have claimed that killing shipwrecked survivors is a war crime. Bradley is briefing leaders on the House and Senate Armed Services Committees. 

Original reporting by the Washington Post claimed that direction came from the top: Secretary of War Pete Hegseth had directed the commander to ‘kill them all.’ But Hegseth claimed he issued no such directive and did not witness the second strike. He said Bradley made the decision on his own, but he stands by it. U.S. officials who spoke with the New York Times said Hegseth did not order the second strike.

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The Trump administration is rolling out a new visa-restriction policy in response to a wave of brutal anti-Christian attacks in Nigeria, targeting those accused of orchestrating religious violence against Christians in the West African nation and around the world.

Secretary of State Marco Rubio announced Wednesday that a new policy in the Immigration and Nationality Act will allow the State Department to deny visas to those ‘who have directed, authorized, significantly supported, participated in, or carried out violations of religious freedom.’ Immediate family members may also face visa restrictions in some cases.

‘The United States is taking decisive action in response to the mass killings and violence against Christians by radical Islamic terrorists, Fulani ethnic militias, and other violent actors in Nigeria and beyond,’ Rubio said in the statement.

The move follows a surge of attacks on Christians and Christian institutions in Nigeria. Last month, gunmen stormed the Christ Apostolic Church in Eruku, Kwara State, killing two people and kidnapping dozens. The 38 abducted worshipers were freed nearly a week later.

Days later, armed attackers raided St. Mary’s School in Niger State, abducting more than 300 students and staff. School officials said 50 students aged 10 to 18 escaped in the following days, but 253 students and 12 teachers remain captive.

The violence prompted President Donald Trump to designate Nigeria a ‘country of particular concern,’ though the Nigerian government disputes the U.S. assessment.

‘I’m really angry about it,’ the president told Fox News Radio last month. ‘What’s happening in Nigeria is a disgrace.’

Rubio said the new visa restrictions will apply to Nigeria and to any other governments or individuals involved in violating religious freedom.

Echoing Trump’s warning, Rubio said: ‘As President Trump made clear, the ‘United States cannot stand by while such atrocities are happening in Nigeria, and numerous other countries.’’

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House Judiciary Committee Chairman Jim Jordan, R-Ohio, subpoenaed former special counsel Jack Smith on Wednesday for a deposition, escalating Republicans’ investigation into one of President Donald Trump’s top political foes.

Jordan directed Smith to appear before the committee on Dec. 17, according to a copy of the subpoena reviewed by Fox News Digital.

‘Due to your service as Special Counsel, the Committee believes that you possess information that is vital to its oversight of this matter,’ Jordan wrote in a letter accompanying his request.

The forthcoming deposition, which is set to take place behind closed doors, comes as House and Senate Republicans have zeroed in on Smith’s election-related investigation of Trump, describing it as a scandal that unnecessarily swept up hundreds of Republican lawmakers, GOP entities, Trump allies and media outlets as part of the probe.

Smith has repeatedly stood by his work as special counsel, which eventually involved bringing two sets of criminal charges against Trump over the 2020 election and over alleged retention of classified documents. Smith dropped both cases after Trump won the 2024 election, citing a Department of Justice policy that discourages prosecuting sitting presidents.

Smith has already offered to publicly testify before the House and Senate Judiciary Committees, but a source familiar with Jordan’s request said a deposition is the chairman’s preferred format because each party on the committee can question Smith for an hour at a time and build a better record. In a public hearing, lawmakers typically question a witness in five-minute intervals.

Peter Koski, an attorney for Smith, responded to the subpoena in a statement provided to Fox News Digital and reiterated that Smith offered six weeks ago to appear voluntarily in a public hearing setting.

‘We are disappointed that offer was rejected, and that the American people will be denied the opportunity to hear directly from Jack on these topics,’ Koski said. ‘Jack looks forward to meeting with the committee later this month to discuss his work and clarify the various misconceptions about his investigation.’

Jordan’s subpoena also included a sweeping demand for all documents and communications related to Smith’s time as special counsel, a request that comes after the DOJ told Smith’s lawyers in a letter on Nov. 12, reviewed by Fox News Digital, that it would make a ‘unique’ accommodation to Congress by authorizing Smith to ‘provide unrestricted testimony to the Committee, irrespective of potential privilege.’

Fox News Digital reached out to committee Democrats for comment.

This is a developing story. Check back for updates.

This post appeared first on FOX NEWS

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

Osisko Metals Incorporated (the ‘ Company ‘ or ‘ Osisko Metals ‘) (TSX: OM,OTC:OMZNF; OTCQX: OMZNF; FRANKFURT: OB51) is pleased to announce that it expects to complete a non-brokered private placement with certain strategic investors for an aggregate of approximately 67,666,666 common shares of the Company (the ‘ Common Shares ‘) at an offering price of $0.48 per Common Share for aggregate gross proceeds to the Company of approximately $32,480,000 (the ‘ Private Placement ‘).

The Private Placement is expected to include subscriptions from certain strategic investors, including:

  • Hudbay Minerals Inc. : 29,166,666 Common Shares for gross proceeds of $14,000,000;
  • Agnico Eagle Mines Limited : has indicated that it intends to subscribe for 26,000,000 Common Shares for gross proceeds of $12,480,000 pursuant to an existing participation right;
  • Franco-Nevada Corporation : 4,166,667 Common Shares for gross proceeds of $2,000,000; and
  • A strategic institutional investor : 8,333,333 Common Shares for gross proceeds of $4,000,000.

The size of the Private Placement will depend on, among other things, certain contractual participation rights granted by the Company to Glencore Canada Corporation (the ‘ Glencore Participation Right ‘).

Osisko Metals CEO Robert Wares commented: We are pleased to welcome Hudbay Minerals as a new significant shareholder of Osisko Metals. We also appreciate the continued participation of Agnico Eagle and two of our existing principal and strategic shareholders. We view the participation in the private placement by these investors as support for the potential of the Gaspé Copper project and we look forward to continued support from these shareholders as we advance our project.

After giving effect to the Private Placement, but before giving effect to any other issuance of Common Shares (including pursuant to the Glencore Participation Right): (i) Hudbay Minerals Inc. (‘ Hudbay ‘) is expected to beneficially own or control 29,166,666 Common Shares, representing approximately 4.3% of the issued and outstanding Common Shares, calculated on a non-diluted basis; and (ii) Agnico Eagle Mines Limited (‘ Agnico ‘) is expected to beneficially own or control 87,815,000 Common Shares, representing an ownership interest in the Company equal to approximately 12.5% (calculated on a partially-diluted basis). As part of the Private Placement, the Company and Hudbay have agreed to enter into an investor rights agreement, pursuant to which Hudbay will be granted certain rights, including top-up rights and the right to participate in future offerings of securities of the Company upon Hudbay’s ownership interest increasing to 9.9% and, subject to certain minimum ownership thresholds and other conditions, the right to board representation.

The net proceeds of the Private Placement are expected to be used to advance the Company’s Gaspé Copper project (including drilling, permitting and technical studies) and for general corporate purposes. The Private Placement is expected to close on or about December 16, 2025, subject to the negotiation and execution of definitive agreements and the satisfaction of certain customary closing conditions therein, including the conditional approval of the Toronto Stock Exchange (the ‘ TSX ‘).

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act, or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Osisko Metals

Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc. The Company acquired a 100% interest in its flagship project, the past-producing Gaspé Copper mine, from Glencore Canada Corporation in July 2023. The Gaspé Copper project is located near Murdochville in Québec’s Gaspé Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper system, with current Indicated Mineral Resources of 824 Mt grading 0.34% CuEq and Inferred Mineral Resources of 670 Mt grading 0.38% CuEq (in compliance with NI 43-101). For more information, see Osisko Metals’ November 14, 2024 news release entitled ‘ Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé Copper ‘. Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.

In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP, through the Pine Point Mining Limited joint venture, to advance one of Canada’s largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of Indicated Mineral Resources of 49.5 Mt at 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt at 5.64% ZnEq (in compliance with NI 43-101). For more information, see Osisko Metals’ June 25, 2024 news release entitled ‘Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq’ . The Pine Point project is located on the south shore of Great Slave Lake, Northwest Territories, close to infrastructure, with paved road access, an electrical substation and 100 kilometers of viable haul roads.

For further information on this news release, visit www.osiskometals.com or contact:

Don Njegovan, President
Email: info@osiskometals.com
Phone: (416) 500-4129

Cautionary Statement on Forward-Looking Information

This news release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as ‘expects’ or ‘does not expect’, ‘is expected’, ‘interpreted’, ‘management’s view’, ‘anticipates’ or ‘does not anticipate’, ‘plans’, ‘budget’, ‘scheduled’, ‘forecasts’, ‘estimates’, ‘potential’, ‘feasibility’, ‘believes’ or ‘intends’ or variations of such words and phrases or stating that certain actions, events or results ‘may’ or ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the ability for the Company to complete the Private Placement on the terms contemplated (if at all); the size of the Private Placement; the expected ownership interest of certain participants in the Private Placement; the negotiation and execution of definitive agreements in connection with the Private Placement; the exercise of the participation rights by Agnico and Glencore Canada Corporation; the closing date of the Private Placement; the ability for the Company to obtain the conditional and final approval of the TSX; the anticipated use of proceeds of the Private Placement; the ability for the Company to unlock the full potential of its assets and achieve success; the ability for the Company to create value for its shareholders; the advancement of the Pine Point project; the anticipated resource expansion of the Gaspé Copper system; and Gaspé Copper hosting the largest undeveloped copper resource in eastern North America.

Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: the ability of exploration results, including drilling, to accurately predict mineralization; errors in geological modelling; insufficient data; equity and debt capital markets; future spot prices of copper and zinc; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; political and regulatory stability; the receipt of governmental and third party approvals; licenses and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; and availability of mining equipment and positive relations with local communities and groups. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company’s public disclosure record on SEDAR+ ( www.sedarplus.ca ) under Osisko Metals’ issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

News Provided by GlobeNewswire via QuoteMedia

This post appeared first on investingnews.com

Investor Insight

Charbone Corporation offers investors exposure to the rapidly expanding clean ultra high purity (UHP) hydrogen and specialty gases market through a modular, capital-efficient strategy that accelerates deployment and revenue generation. With first helium and UHP hydrogen deliveries, successful financings, and a growing network of long-term supply agreements, the company is entering a pivotal commercial phase supported by robust industry and policy tailwinds.

Overview

Charbone Corporation (TSXV:CH,OTCQB:CHHYF,FWB:K47) is an integrated company specialized in clean UHP hydrogen and the strategic distribution of industrial gases in North America and the Asia-Pacific region. It is developing a modular network of clean UHP hydrogen production while partnering with industry players to supply helium and other specialty gases without the need to build costly new plants. This disciplined strategy diversifies revenue streams, reduces risks and increases flexibility.

Charbone has accelerated its growth trajectory, negotiating a US$50 million financing, as one of possibilities in its toolbox, to expand across North America, executing a US$1 million collaboration agreement to advance a clean UHP hydrogen project in Malaysia, and achieving multiple milestones at its flagship Sorel-Tracy facility in Quebec. In 2025, the company completed the construction and equipment installation at Sorel-Tracy and began commissioning, after acquiring from Harnois Énergies and relocating the operating hydrogen production and refueling equipment to the site to enable faster commissioning and earlier hydrogen sales.

Charbone also launched its Industrial Gases Distribution Division and made its first helium delivery of 161,000 cubic feet of helium to an independent distributor in the Greater Toronto Area, underpinned by a three-year supply agreement. The company also signed a five-year clean UHP hydrogen supply contract with an Ontario-based distributor, with first deliveries scheduled to begin in December 2025. These agreements mark the company’s entry into the Ontario market and its integration into the North American specialty gases supply chain.

With its exclusive focus on clean UHP hydrogen, Charbone is positioning itself as a first mover in a multi-billion-dollar market. Leveraging Canada’s hydroelectric power and expanding nuclear capacity, Charbone plans to deliver sustainable hydrogen solutions that meet rising demand from both governments and global industries.

Company Highlights

  • Canada’s only publicly listed clean UHP hydrogen company: Charbone Corporation offers investors unique exposure to the fast-growing hydrogen economy as a company focused on clean UHP hydrogen production and distribution.
  • Building a North American clean UHP hydrogen pipeline: Advancing multiple projects, anchored by its flagship Sorel-Tracy facility in Quebec, to establish a scalable production and distribution network.
  • Well-financed for growth and expansion: Charbone negotiated US$50 million financing, facilitated by US Capital Global, as one of its possibilities in its toolbox to accelerate funding of modular build-out and expand its footprint across North America.
  • Expanding into international markets: Through a US$1 million master collaboration agreement, Charbone is supporting the deployment of a clean UHP hydrogen project in Malaysia, highlighting its global reach.
  • Aligned with strong policy and market tailwinds: For years, Canada leaned on centralized, fossil-based reformers. That playbook is obsolete. Now, Quebec’s hydropower can supply electrolyzers that split H₂O into H₂ and O₂ with zero carbon footprint. Charbone’s plug-and-play approach repurposes proven gear, slashing lead times and trimming capex. Charbone is well-placed for long-term growth.
  • Focus on clean UHP hydrogen production: Charbone is dedicated to producing hydrogen using baseload renewable energy, such as hydroelectric and nuclear energy — a critical pathway to decarbonization with a reliable and efficient production capacity.
  • New Industrial Gases Distribution Division: Achieved its first helium delivery and signed a three-year supply agreement, establishing a new revenue stream in specialty gases.

Project Pipeline and Key Partnerships

Charbone forged strong partnerships to execute its business model. Here’s where it gets cool: renewable hydroelectricity powers electrolyzers that split water into hydrogen and oxygen. Purification skids then crank it up to 99.999% purity – true industrial grade. This hydrogen production model serves everything from fuel-cell fleets and semiconductor fabs to specialty metal processing and next-gen refueling stations.

Charbone isn’t flying solo. The company has built a network of strategic partners across production, infrastructure and commercial distribution, including:

  • Energy and technology partners such as Hydro-Québec and ABB, supporting clean power supply and the development of modular hydrogen facilities across North America.
  • Equipment and construction partners responsible for the delivery, relocation and installation of Charbone’s operating hydrogen production assets and the completion of civil works at Sorel-Tracy.
  • A US Tier-One industrial gas producer, with whom Charbone recently formed a strategic alliance to expand access to helium and specialty gases and strengthen North American market penetration.
  • Commercial distributors in Ontario and the Greater Toronto Area under multi-year agreements for clean UHP hydrogen and UHP helium, marking Charbone’s entry into these fast-growing specialty gas markets.
  • Public listings on the TSX Venture Exchange, OTCQB, and Frankfurt Stock Exchange, supporting access to global capital.

Charbone’s memorandum of understanding (MOU) with ABB includes the development of up to 16 modular and scalable green hydrogen production facilities across North America over the next five years. Under the MOU, ABB will support Charbone in standardizing basic engineering for systems and components across its project portfolio to increase energy efficiency and reliability.

Among the sites covered by the collaboration is Charbone’s flagship Sorel-Tracy facility near Montreal in Quebec, Canada. In 2025, the project reached several major milestones: the safe reception and transfer of all major hydrogen production components, the launch and completion of civil works, and the equipment installation and the start of Phase 1a commissioning on schedule in November 2025. These advances were enabled by Charbone’s acquisition from Harnois Énergies and relocation of operating hydrogen production assets, accelerating deployment and reducing capital requirements.

The construction of its Sorel-Tracy facility is being done with the participation of EBC, one of the largest construction companies in Quebec. EBC has a proven track record of designing and building facilities in Canada and the US. The partnership agreement gives EBC the right of first refusal to construct additional Sorel-Tracy phases, as well as one or all of Charbone’s facilities within the North American market.

In addition, Charbone has entered into several other strategic partnerships, all aimed at expanding its footprint in North America. The company entered into a special consultancy agreement with Enki GéoSolutions for potential partnership proposals as a co-operator and distributor of an emerging form of clean and renewable hydrogen, known as white or natural hydrogen.

In June 2024, Charbone executed a supply agreement for a complete containerized electrolyzer system ready for shipment to its flagship clean UHP hydrogen site in the City of Sorel-Tracy, Quebec. Since then, the company has completed grid and water connections, obtained its first hydrogen tube trailer for bulk transport, and introduced a dedicated helium tube trailer to support new commercial activity in Ontario. These logistics capabilities now support both hydrogen and helium deliveries under multi-year supply agreements.

Charbone also signed commercial supply agreements (CSAs) with a top-tier US industrial gas producer and distributor. The first CSA secures hydrogen supply ahead of Charbone’s own production, while the second expands its product offerings to include helium and other industrial gases. In 2025, this relationship expanded into a broad strategic alliance, strengthening Charbone’s access to high-value gases and enhancing its commercial footprint across North America.

Superior Plus

This partnership allows Charbone to sell hydrogen produced at the Sorel-Tracy facility to Certarus, a subsidiary of Superior Plus. Such supply agreements ensure that Charbone can generate cash flow immediately following the commencement of production.

NEK Community Broadband

The agreement with NEK Community Broadband ensures the supply of green hydrogen in the Northeast Kingdom of the state of Vermont, USA. NEK Broadband is building a high-speed broadband infrastructure and plans to install a hydrogen fuel cell backup system for a reliable power supply.

Oakland County Economic Development Department, Michigan

Further advancing its goal of US expansion, Charbone signed a memorandum of understanding in December 2023 with Michigan’s Oakland County Economic Development Department to set up Charbone’s first clean UHP hydrogen facility in the US. Oakland County is home to major automakers, and a clean UHP hydrogen facility in their proximity will support the effort of producing environmentally friendly mobility options.

Being the only publicly listed clean UHP hydrogen player in Canada, Charbone offers investors a unique opportunity to participate in the rise of Clean UHP hydrogen as a potential low-emitting alternative to fossil fuels.

Management Team

Dave Gagnon – Chairman and CEO

Dave Gagnon has been chairman and chief executive officer of Charbone Corporation since April 21, 2022. With over 20 years of executive leadership experience in Cleantech, Wind Power, Hydropower, Lithium Resources, and Industrial Gases, he has built a career focused on scaling innovative infrastructure, accelerating sustainable energy solutions, and leading cross-border growth initiatives in high-impact sectors.

Benoit Veilleux – Chief Financial Officer

Benoit Veilleux was appointed as the CFO of Charbone on August 15, 2022. Veilleux has over 15 years of experience in corporate accounting and finance. He began his professional career at KPMG in 2003, where he managed and coordinated audit teams for public companies until 2010. Since then, he has worked with a number of companies including Air Liquide Canada and the Hypertec Group.

Daniell Charette – Chief Operating Officer

Daniell Charette has been the chief operating officer of Charbone since February 2019. He brings over 25 years of experience in running and managing renewable energy companies. He has worked in senior leadership roles with several renewable companies including NEG Micon A/S, Vestas and Brookfield Power. He has served on various association boards and councils, including the Canadian Wind Energy Association, Association Québécoise des Producteurs d’Énergie Renouvelable, and Latin Wind Energy Association.

Francois Vitez – Director

Francois Vitez is a hydropower and energy storage expert with more than 24 years of experience in development, engineering and construction management as well as operations and maintenance of hydropower and energy storage projects in North America and internationally. He is a board member and chair of the Value of Hydropower committee at Waterpower Canada, vice-chair of the Energy Storage Association of Canada, board member of the California Energy Storage Association, and member of the International Hydropower Association.

Patrick Cuddihy – Industrial Gases Operations Team

Patrick Cuddihy is a seasoned operations leader with over 20 years of experience at Air Liquide Canada, to its hydrogen operations team. Patrick brings a wealth of expertise in managing industrial gas production and distribution, having held senior roles including network sales director for Quebec Region, general manager for Pacific Region, director of procurement services, and director of logistics and assets for the Eastern Region.

Jean Watelle – Hydrogen Production

Jean Watelle is an engineer with more than 25 years of experience in technical and manufacturing management, including 11 years as director, hydrogen and site operations, large industries – Eastern Region at Air Liquide Canada, five years in Lean Manufacturing and as a Tier 1 specialist for Chrysler and Ford. Known for his dynamism, creativity and excellent knowledge of continuous improvement tools, Watelle enjoys successfully completing stimulating challenges with a committed team.

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Saga Metals Corp. (‘SAGA’ or the ‘Company’) (TSXV: SAGA,OTC:SAGMF) (OTCQB: SAGMF) (FSE: 20H) a North American exploration company advancing critical mineral discoveries, is pleased to announce the successful completion of the first phase of drilling in the Trapper Zone’s northern section (‘Trapper North’) including four drill holes over 1,073 m and has initiated phase 2 in the south (‘Trapper South’) including two drill holes over 445 m completed to date. Phase 1 and 2 drill holes have intercepted and confirmed extensive oxide mineralization over 1.5 km of the 3+ km strike within the Radar Project’s Trapper Zone.

Highlights

  • R-0008, -0009 and -0010 on Drill Section N-11 transected the magnetic anomaly and demonstrated a likely structural repetition of the cumulate oxide layers dominated by semi-massive to massive cumulate oxides, confirming the strong magnetic response.
  • R-0008: Comprising semi-massive to massive oxide mineralization, with a cumulative total of 156 m of core length.
  • R-0009: Over half the length of the hole intersected semi-massive to massive oxide layering, with a cumulative total of 165 m of core length.
  • R-0010: Was drilled off the same drill pad as R-0009 to test the NE limb of the fold. R-0010 contained a cumulative core intercept of 139.5 m of semi-massive to massive oxides, as well as 11.5 m of intercumulus oxide in 251 m of coring.
  • R-0011 : Intersected equal portions of semi-massive to massive cumulate oxides and intercumulus oxides. Importantly, the drilling encountered a separate unit of rhythmic banded oxide mineralization.
  • R-0012 & R-0013: Are the first two drill holes of the initial cross section in Trapper South and contains rhythmic oxide layering and further confirms oxide mineralization over 1.5 km of the 3+ km strike within the Trapper Zone.

Figure 1: Location of the Phase 1 and Phase 2 of Fall 2025 Drilling at Trapper Zone, showing the TMI of the 2025 Trapper Zone ground magnetic survey.

Figure 2: A Gladiator Driller crew member carefully places core from R-0013 into the core box at the drill in Trapper Zone.

Drill Hole Program Details

Phase 1 of drilling in the Trapper North Zone targets a strong magnetic anomaly delineated in the 2025 ground geophysical survey. The anomaly traces the shape of an apparent fold structure. Drilling fences are oriented to cross the fold structure at right angles, with drilling directions of mostly N038°E. A total of 1,073 m of drilling has been completed in four diamond drill holes. Phase 2 is focused on Trapper South and will concentrate on multiple fences through the magnetic anomalies. A total of 445 m has been completed in two diamond drill holes thus far.

Drilling is conducted with oriented drill core to provide definitive structural information. Dr. Boukare Tapsoba, of Cambria Geological Inc., is attending the first phase of drilling to establish robust protocols for documenting the magmatic layering, folding and mylonitic shearing.

  • R-0008 (Azimuth 38°, Dip -45°, EOH 272 m) , was collared in the SW limb of a large fold closure in gabbronorite in Trapper North. Over half the length of the hole passed through intervals of semi-massive to massive oxide mineralization, with a cumulative total of 156 m out of 272 m of core length.
  • R-0009 (Azimuth 38°, Dip -45°, EOH 299 m) , tested the remainder of the Trapper North fold structure. The drill hole was collared to intercept the NE limb of the fold and to complete the cross-section started with R-0008. Over half the length of the hole intersected semi-massive to massive oxide layering, with a cumulative total of 165 m out of 299 m of core length.
  • R-0010 (Azimuth 0°, Dip -45°, EOH 251 m) , was drilled off the same drill pad as R-0009 to verify the most appropriate angle for drilling the NE limb of the fold. Additionally, this hole provides a control for understanding the structural position of a mylonitic shear that occupies the fold’s axial plane. R-0010 contained a cumulative core intercept of 139.5 m of semi-massive to massive oxides, as well as 11.5 m of intercumulus oxide in 251 m of coring.
  • R-0011 (Azimuth 0°, Dip -45°, EOH 251 m), the fourth drill hole in Trapper North was a 100 m step out to the east from R-0009 & R-0010. The hole successfully demonstrated the continuity of the semi-massive to massive layering while also intersecting a unit of Rhythmic Magnetite layering, similar to the holes drilled in Hawkeye in Q1 of 2025. R-0011 intercepted a cumulative interval of 58.3 meters of semi-massive to massive oxide, 27.39 meters of intercumulus and 52.12 meters of rhythmic magnetite banding.

Drilling on Section N-11, in diamond drill holes R-0008, -0009, and -0010, demonstrated variations in the structural attitude that map an open anticline in the semi-massive to massive oxides. The exceptional thickness of the oxide units on Section N-11 is partly due to the structural repetition of the units. A mylonitic shear zone occupies the axial plane of the fold. Significantly, this drilling tested both the SW and NE limbs of the fold structure and was dominated by semi-massive to massive cumulate oxides, confirming the strong magnetic response. Assays are pending.

Figure 3: Cross-Section N-11 showing R-0008, -0009, -0010 and -0011 with the 3D Magnetic Inversion of the 2025 Trapper Zone ground magnetic survey.

Drill Core Sample Update

Saga Metals has successfully shipped the first 420 core samples from the Fall 2025 Drill Program. A close sample spacing of 0.5 to 1.0 m was used in the Hawkeye zone Q1 drill program of 2025. After reviewing the assay results on that zone, the team has reduced the sampling interval to 2.0 m.

The first 420 samples include 202 from the complete R-0008 drill hole and 218 from the complete R-0009 drill hole. These samples were shipped at the start of this week and are expected to arrive by the end of the week, with assay results available within 3 to 4 weeks.

Figure 4: R-0012 DDH at Trapper South with a full stack of core boxes ready for logging.

Figure 5: Geologists Boukare Tapsoba, Grace Mombourquette and Katie Ward in the core shack. Both the drillers and geologists have benefited from competent ‘stick’ rock, as seen in the core held up by Boukare Tapsoba.

Next Steps

Drill has successfully moved from Trapper North to Trapper South and has begun drilling a four-hole section across the linear magnetic anomalies with the zone. R-0012 and R-0013 are completed, and Gladiator Drilling has successfully moved the drill shack to the site of R-0014 with drilling already underway.

With the same concept of the first four holes in the North, drilling in the South will concentrate on multiple fences through the magnetic anomalies to allow Saga’s geological team to best understand and plan for the remainder of the mineral resource estimate drill program that will continue in Q1 of 2026.

‘Saga Metals Radar Project, Fall 2025 Drill Program is aggressively testing for the presence of, and continuity of layered magnetite mineralization that has been defined by their recent ground magnetic surveys. Their targeting of fold noses is logical, and their use of oriented core to define layering attitudes and facing directions will greatly aid their geological interpretation of these large, property-scale folded formations. Their early use of structural geological expertise is well thought out and will be of great value in the definition of this emerging layered mafic intrusive complex,’ commented Vernon Shein, former B2Gold Executive & Advisory Board Member of Saga Metals.

Drill Program Objectives:

The Phase 1 Trapper Zone drill campaign will target:

  • Grade continuity across a 3 km strike length.
  • Oxide layering widths and continuity to true depths of about 200 meters.
  • Integration of structural insights from trenching and drilling into collar orientation and drill design.
  • Initial drilling of ~2,000 meters in 8 holes, each averaging about 250 m in depth, will be completed before the December break.
  • Test both the North and South sections of the Trapper zone before the seasonal break to fully determine grades, widths and structures before initiating the detailed grid and drill sections in 2026 for a mineral resource estimate.
  • Drilling will be complemented by metallurgical sampling through the winter, with core from both the Hawkeye and Trapper zones undergoing detailed metallurgical testing.

Figure 6: Radar Project’s Trapper Zone depicting a 3+ km Total Magnetic Intensity (TMI) anomaly from the 2025 ground survey and the oxide layering trend. The Trapper Trail (in black) will be the target of the planned 15,000 m diamond drilling program aimed at establishing Saga’s maiden mineral resource estimation.

The Radar Property spans 24,175 hectares and hosts the entire Dykes River intrusive complex (~160 km²), a unique position among Western explorers. Geological mapping, geophysics, and trenching have already confirmed oxide layering across more than 20 km of strike length, with mineralization open for expansion.

Vanadiferous titanomagnetite (‘VTM’) mineralization at Radar is comparable to global Fe–Ti–V systems such as Panzhihua (China), Bushveld (South Africa), and Tellnes (Norway), positioning the Project as a potential strategic future supplier of titanium, vanadium, and iron to North American markets.

Figure 7: Radar Project’s prospective oxide layering zone extends for an inferred 20 km strike length, as shown on a compilation of historical airborne geophysics as well as ground-based geophysics in the Hawkeye and Trapper zones completed by SAGA in the 2024/2025 field programs. SAGA has demonstrated the reliability of the regional airborne magnetic surveys after ground-truthing and drilling in the 2024 and 2025 field programs .

Corporate Update

Additionally, further to SAGA’s news release dated May 27, 2025, where it announced the completion of the first tranche of a private placement of units (the ‘ May Placement ‘), the Company has paid additional cash finder’s fees in the amount of $1,659 and issued an additional 5,530 finder’s warrants. The total finder’s fees paid by the Company in connection with the first tranche of May Placement were $33,369.01 in cash and 114,146 finder’s warrants.

The Company also announces that further to its news release dated October 10, 2025 where it announced the completion of a private placement of units (the ‘ October Placement ‘), the Company has paid additional cash finder’s fees in the amount of $21,187.88 and issued an additional 77,546 finder’s warrants. The total finders fees paid by the Company in connection with the October Placement were $151,190.88 in cash and 555,750 finder’s warrants.

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 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 North American transition to supply security. 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 commodities crucial for the clean energy future, SAGA is strategically positioned to play an essential role in critical mineral security.

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 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.

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Investor Insight

Rio Silver provides leveraged exposure to high-grade silver development through its Maria Norte project in one of Peru’s most productive mineral belts. With strong non-dilutive royalty income and milestone payments, the company offers meaningful upside with reduced dilution risk.

Overview

Rio Silver (TSXV:RYO,OTC:RYOOD) is a Canadian resource developer focused on advancing high-grade, silver‑dominant assets in Peru, one of the world’s most prolific and well‑established silver‑producing regions. With a deeply experienced in‑country technical and regulatory team, the company is positioned to execute a rapid, efficient development strategy centered on its flagship Maria Norte project and complemented by its recently acquired Santa Rita silver-lead-zinc project. Rio Silver continues to build value through a disciplined approach to acquisition, exploration and early‑stage development, supported by strong local relationships and a streamlined corporate structure.

Maria Norte property

The company also benefits from non‑dilutive financial strength through long‑term royalty income, milestone payments and equity interests tied to the sale of the Niñobamba project. Complementing its Peruvian portfolio, Rio Silver maintains a highly prospective critical metals asset in Ontario’s Ring of Fire, providing additional optionality and long‑term upside. Together, these assets reflect a balanced strategy aimed at near‑term development potential and sustained value creation.

Company Highlights

  • High-grade, silver‑dominant development focus centered on the Maria Norte project in Peru.
  • Strong insider alignment and seasoned management team with combined 150 years of discovery, mine development and operations history
  • Robust royalty and milestone income, including ~US$150,000/year in advanced royalty payments.
  • Strategic sale of Niñobamba delivering over US$2 million in milestones plus equity and a 2 percent NSR retained.
  • District‑scale expansion potential with additional silver targets under evaluation near Maria Norte.
  • Additional upside through a highly prospective critical‑metals project in Ontario’s Ring of Fire.
  • Newly acquired Santa Rita silver-lead-zinc project enhances district-scale synergies with Maria Norte, strengthening Rio Silver’s pure-play silver development strategy in Peru.

Key Project

Maria Norte Silver Project

The Maria Norte project is the company’s primary near-term development focus, located within the prolific Huachocolpa mining district – one of Peru’s most established silver-producing regions. Historically prepared for production and surrounded by multiple operating and past-producing polymetallic mines, Maria Norte benefits from excellent regional infrastructure, including two nearby processing plants within trucking distance.

A recent multidisciplinary site review conducted by Rio Silver’s in-country technical team confirmed strong mineralized structures, clear development sequencing, and a rapid execution pathway immediately upon regulatory approval of the acquisition. Preparations are underway for high-altitude camp construction, portal-access upgrades, and underground drift advancement along known gold-silver-lead-zinc structures. The company is also advancing explosives permitting and stakeholder access agreements, which continue to progress positively.

Maria Norte’s geology demonstrates significant high-grade potential, including historical sampling from the Castor vein system with values up to 16.5 grams per ton (g/t) gold and 1,128 g/t silver, alongside significant lead and zinc grades. The project lies on‑strike with nearby deposits supported by a positive preliminary economic assessment, reinforcing both grade continuity and development viability. Rio Silver is concurrently evaluating several additional silver-dominant targets within trucking distance, positioning Maria Norte as the foundation of a broader district-scale growth strategy.

Santa Rita Silver-Lead-Zinc Project

The Santa Rita project is a 570-hectare, high-grade carbonate-replacement (CRD) silver-lead-zinc system located within one of Central Peru’s most productive polymetallic belts, approximately 55 km from Rio Silver’s Maria Norte project. Acquired through a clean, closed-bid process granting full ownership with no underlying royalties, Santa Rita hosts more than 20 steeply dipping veins and multiple shallow-dipping mantos historically explored by previous operators. The project benefits from direct road access and proximity to producing mines and regional processing facilities, providing a cost-effective pathway for advancement. Metallurgical testing and field verification programs are underway as Rio Silver advances Santa Rita as a complementary asset to Maria Norte.

Niñobamba Silver-Gold Project (Optioned in 2025)

The Niñobamba project, located in Ayacucho, remains an important value contributor through milestone payments, equity ownership, and a 2 percent NSR royalty retained by Rio Silver. Historically, the project demonstrated significant silver and gold mineralization across its North and South zones. While now optioned, Niñobamba continues to enhance Rio Silver’s financial stability and long‑term upside.

Ring of Fire Critical Metals Project

Rio Silver also holds a prospective critical‑metals property in Ontario’s Ring of Fire, where airborne EM data identified one of the region’s strongest anomalies. Historical drilling and ongoing Indigenous engagement support its long‑term strategic potential.

Management Team

Chris Verrico – President, CEO and Director

Chris Verrico has extensive experience with rural-remote infrastructure construction and contract mining throughout BC, the Yukon, Alaska and Nunavut. He has been a director for a dozen startup junior mining companies, most of which have become public companies. Verrico has managed numerous exploration projects in North America, Mexico and throughout western South America. He is currently the director of Juggernaut Exploration.

Steve Brunelle – Chairman

Steve Brunelle is the former officer and director of Corner Bay Silver, which was acquired by Pan American Silver. He has 35 years of experience in mineral exploration throughout the Americas and is currently an Officer and Director for several TSXV companies.

Jim McCrea – Adviser

Jim McCrea has more than 30 years’ experience in exploration, mining geology and mineral resource estimation. McCrea has experience in a range of commodities, but primarily gold, silver and copper, with particular focus on North and South America. He has performed ore body modeling and resource estimation for the successfully targeted takeover company Cumberland Resources by Agnico-Eagle Mines. More recently, McCrea completed many mineral resource estimations underpinning acquisitions such as Minera San Cristóbal S.A. of Bolivia, Arena Minerals and Montan Mining, to mention a few.

Richard Mazur – Director

Richard Mazur is the co-founder and past managing director of RLG International, operating in over 30 countries worldwide with more than 300 employees.

Jeffrey J. Reeder – Advisor

Jeffrey J. Reeder, P. Geo., holds a B.Sc. (Honours) in Geology from the University of Alberta and has been a registered professional geologist with the Association of Professional Engineers and Geoscientists of British Columbia since 1992. With 25 years of experience working in Peru and fluency in Spanish, Reeder has played a key role in identifying and acquiring significant mineral projects, including the Aguila Copper-Moly deposit, which is now being developed by Mexican mining giant Industrias Peñoles, and the Pinaya copper-gold project, currently under exploration by Kaizen Discovery. Reeder is the president and CEO of Peruvian Metals, which operates a successful and expanding toll milling plant in northern Peru.

Eric H. Hinton – Advisor

Eric Hinton holds degrees from Haileybury School of Mines, Queen’s University, and Laurentian University and is a registered professional engineer in Ontario and Manitoba. A Fellow of the Canadian Institute of Mining, Metallurgy, and Petroleum, he is also designated as a Qualified Person (QP) in underground mining by the Mining and Metallurgical Society of America and is recognized as a QP under National Instrument 43-101.

Christopher Hopton – CFO and Advisor

Christopher Hopton is a seasoned financial management professional with 25 years of experience. He has led financial operations for resource and biotech companies across Canada and South America. Since 2019, Hopton has served as chief financial officer (CFO) of the company, bringing expertise in financial planning, accounting policy, and business process optimization. In addition to his current role as CFO at Rio Silver, Hopton previously served as CFO of Central Resources, a junior mineral exploration company. He also played a key role in the successful restructuring of 360 Networks, a network communications firm, which ultimately led to its strategic acquisition by Bell Canada.

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Nine Mile Metals LTD. (CSE: NINE,OTC:VMSXF) (OTC Pink: VMSXF) (FSE: KQ9) (the ‘Company’ or ‘Nine Mile’) is pleased to announce that the 2nd drill hole in its Wedge Western Extension Drill Program (DDH-WD-25-02) has been completed and is in progress on its 3RD hole (DDH-WD-25-02B).

  • DDH WD-25-02 was collared on the same drill pad as WD-25-01 and drilled at an azimuth of 310 degrees and a dip of -50 degrees to intersect the first plate approximately 50 meters west of Hole WD-25-01, increasing the mineralized zone along strike, to the west. (Figure 3). The hole completed at 203m at depth.
  • DDH WD-25-02 was successful, intersecting massive copper bearing sulphides (VMS — Cu-Pb-Zn-Ag-Au).
  • Massive copper bearing sulphides (VMS — Cu-Pb-Zn-Ag-Au) were found associated with the contact breccia at 139m depth with a second zone of massive copper bearing sulphides (VMS — Cu-Pb-Zn-Ag-Au) intersected at 155 meters, having an approximate true width of 20 meters.
  • The sulphide mineralogy in WD-25-02 is readily visible, especially the massive copper mineralization, as shown in Figures 1 & 2. Chalcopyrite (CuFeS2) occurs as masses, streaks and blebs while more local Pb-Zn mineralization is well banded with sphalerite (Zn) the dominant sulphide. Local bornite (Cu5FeS4) and Covellite (CuS) is visibly present, the bornite displays its characteristic ‘Purple Peacock Copper Bloom’ and Covellite its ‘Blue Copper’, as seen in Figure 1.
  • All drill core has been measured, logged, photographed, marked and cut for sampling at the company’s warehouse in Bathurst, New Brunswick. A quick XRF analysis was also completed for sulphide confirmation – filtering and width identification in definition for sampling core for Actlabs Analysis. A total of 55 sections have been identified for Base and Precious Metals analysis, including Antimony, for Actlabs, Fredericton, New Brunswick.

FIGURE 1: Visible Massive Copper Mineralization from Zone 1 & 2 (including Covellite (CuS) & Bornite (Cu5FeS4 ).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7335/276702_nine%20mile%20figure%201.jpg

FIGURE 2: Visible Massive Copper Mineralization

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7335/276702_578ddd37b42d9a3c_005full.jpg

FIGURE 3: Modeled Plates and Drill Holes WD-25-01 and WD-25-02

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https://images.newsfilecorp.com/files/7335/276702_578ddd37b42d9a3c_006full.jpg

Gary Lohman, VP Exploration, Director, stated, ‘We are pleased with our technical preparation of this drill program and quality of our Lens targeting. The western extension of this deposit is robust and copper rich. Very positive to confirm the thickness of this plate intersection as we stepped approximately 50m west of DDH-WD-25-01. Our data modelling suggests a 3rd potential Zone of mineralization which Mike Dufresne of Apex Geoscience is modeling and designing (2) potential Drill holes to test that prospective Zone from the western flank area, thus avoiding a sheer zone from the south. We look forward to moving to the Northwest area of this extension program.’

Patrick J. Cruickshank, MBA, CEO & Director, stated, ‘Once again, we have intersected quality mineralization at the desired Target Plates at DDH-25-02, as designed and set out by our Technical Team. The visible mineralization and copper rich sulphides is just spectacular. The presence of Bornite and Covellite is a strong indicator of the quality of this deposit. This western flank area is being confirmed as a rich Copper Lens, one hole at a time. We are on track to increase the Wedge Mine’s mineralized footprint to the west and at depth. The next drill hole in our campaign is DDH-WD-25-02B, which is underway and we look forward to sharing our next summary update shortly.’

About Nine Mile Metals Ltd.:

Nine Mile Metals Ltd. is a Canadian public mineral exploration company focused on VMS (Cu, Pb, Zn, Ag and Au) exploration in the world-famous Bathurst Mining Camp, New Brunswick, Canada. The Company’s primary business objective is to explore its four VMS Projects: Wedge VMS Project, Nine Mile Brook VMS Project, California Lake VMS Project, and the Canoe Landing Lake (East – West) VMS Project. The Company is focused on Critical Minerals Exploration (CME), positioning for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge with Gold.

Social Media

X: @NineMileMetals
LinkedIn: Nine Mile Metals
Facebook: @ Nine Mile Metals

ON BEHALF OF Nine Mile Metals LTD.

‘Patrick J Cruickshank, MBA’
CEO and Director
T: +1.506-800-0581
E: info@ninemilemetals.com

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as ‘will,’ ‘may,’ ‘would,’ ‘expect,’ ‘intend,’ ‘plan,’ ‘seek,’ ‘anticipate,’ ‘believe,’ ‘estimate,’ ‘predict,’ ‘potential,’ ‘continue,’ ‘likely,’ ‘could’ and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include that (a) prior to commencing the 2023 exploration drill program, the ground will be mapped at surface and representative samples analyzed to determine the base and precious metal assay values, (b) the Ag and Au values will be reported upon receipt of the certified assay results from ALS Global, and (c) our current financial raise will enable us to drill the Wedge Project (along with our Canoe Landing VMS Project and follow up exploration work on our California Lake VMS Project) this season as opposed to next year. Although Nine Mile believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Nine Mile can give no assurance that they will prove to be correct.

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

____________________________________________________________________________________

The Canadian Venture Building, 82 Richmond Street East, Toronto, ON M5C 1P1 (T) (506) 804-6117
www.ninemilemetals.com

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