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First Development Resources plc (AIM: FDR), a UK-based, Australia-focused mineral exploration company with interests in Western Australia and the Northern Territory, is pleased to provide an update on its gold (‘Au’) focused exploration at the Selta Project (‘Selta’ or the ‘Project’), located in the Aileron Province of Australia’s Northern Territory.

HIGHLIGHTS

  • The high-resolution aeromagnetic (‘AMAG’) and radiometric (‘RAD’) geophysical survey over the Lander West regional gold target area has been successfully completed, covering approximately 4,200-line kilometres and delivering a high-quality geophysical survey dataset for targeting Au.
  • Updated AMAG / RAD images are being interpreted, enhancing FDR’s understanding of subsurface geology, structures, and alteration patterns for drill targeting gold mineralisation associated with anomalous surface geochemical and historical shallow drilling results.
  • These new airborne geophysical survey results will be integrated with ongoing Gradient Array Induced Polarisation (‘GAIP’) survey results and historical geochemistry from surface sampling and shallow drilling to refine and prioritise target zone for future drilling.
  • Planning and applications for land access and heritage approvals over target areas is currently underway.

Tristan Pottas, Chief Executive Officer of FDR, commented:

‘Completion of the high-resolution AMAG and radiometric survey at Lander West represents a major step forward and it has materially improved our understanding of the subsurface geology and structural controls on mineralisation. We are grateful for the support received from Thomson Airborne, who delivered a high-quality, professional dataset on schedule over the holiday period.

The integration of the AMAG / RAD data with results from the ongoing GAIP survey and historical geochemical information will allow us to systematically refine and prioritise gold drill targets. We are very pleased with the quality of the datasets delivered and look forward to advancing Lander West through the next phase of exploration.’

AMAG / RAD SURVEY OUTCOMES

The completed AMAG / RAD survey was flown by Thomson Airborne Pty Ltd in early January 2026 using 100m spaced flight lines to generate high-resolution magnetic and radiometric datasets along approximately 4,200-line kilometres. The survey has delivered detailed imaging of structural features, lithological boundaries, and alteration signatures across the Lander West gold target area.

A comparison between the original regional airborne magnetic anomaly imagery and the new FDR acquired high-resolution AMAG imagery is provided in Figure 1 (original) and Figure 2 (newly acquired imagery). The new AMAG survey data have been processed to provide very detailed imagery on the subsurface geology and structure that will help FDR’s technical team to better constrain structures of interest for drill targeting Au mineralisation.

Figure 2 presents the First Vertical Derivative (‘1VD’) of Total Magnetic Intensity reduced to magnetic pole (TMI RTP) filtered anomaly image. Additional data processing methods and three-dimensional (‘3D’) inversion modelling results are being reviewed to identify areas of granitic intrusive contacts with meta-sediments and meta-volcanic host rocks, zones of folding and faulting, and hydrothermal alteration zones, which are key targeting criteria for potential gold mineralisation.

The newly acquired AMAG / RAD data results will be integrated with chargeability and resistivity information generated from the ongoing GAIP geophysics survey to better constrain and target potential mineralised zones at depth for follow up air-core (‘AC’) drilling transects to test shallow targets and reverse circulation (‘RC’) drilling to test deeper GAIP targets and drill under historical shallow Au anomaly zones. This combined geophysical interpretation, together with historical geochemical datasets, will underpin a robust, multi-disciplinary targeting framework to identify and prioritise drill-ready gold targets.

LANDER WEST GOLD TARGET

Following detailed desktop studies, FDR has identified the Lander West regional gold target area as a priority focus within the broader Selta Project. This target has been supported by a comprehensive gold targeting study completed by Resource Potentials Pty Ltd (‘ResPot’), a Perth, Western Australia-based Mineral Exploration and Geophysical Consultancy. ResPot has been commissioned to integrate historical drilling, geological, geophysical, and geochemical datasets to help FDR define high-potential gold targets for follow-up work.

Lander West is interpreted as a continuation of the Stafford Gold Trend, where the adjacent ground hosts high-grade gold and antimony (‘Sb’) mineralisation in the same geological units extending to the southeast (1). Gold mineralisation is believed to be shear-hosted, associated with zones of deformation and hydrothermal alteration, which produce subtle but measurable variations in magnetic response. Within Lander West, a very large granitic batholith, with smaller granite stocks along its margin, have been identified by the AMAG data to sit below thin sand cover sediments, and these granites are a likely source for the Au (and Sb) mineralising fluids to form Intrusive Related Gold (‘IRG’) and skarn type gold targets with FDR’s land holding. High-resolution geophysical datasets are therefore critical to refining drill targets and advancing FDR’s gold exploration programme.

NEXT STEPS

Interpretation and 3D inversion modelling of the integrated AMAG / RAD, GAIP survey results and geochemical datasets is underway, and the result is already informing key areas for follow-up exploration planning, including the design and prioritisation of future AC and RC drilling programmes at Lander West. This systematic, data-driven approach is intended to maximise discovery potential while maintaining a disciplined and cost-effective exploration strategy over such a large gold target area.

Further updates will be provided as interpretation progresses and exploration activities advance.

Figure 1: Original regional scale AMAG data anomaly image (1VD filtered and grey colour scale) from the Selta Project Lander West gold target area.

Figure 2: Newly-acquired first vertical derivate (1VD) on total magnetic intensity (TMI) filtered AMAG anomaly imagery from the Selta Project Lander West gold target area. This processing method helps sharpen shallow geological effects, such as fault systems, folds and shear zones, and it clearly identified a newly discovered granite contact in the north, which is a likely driver for hydrothermal fluids and heat to produce Au mineralisation.

REFERENCE

1. iTech Minerals Ltd (ASX: ITM) announcement dated 12 January 2026
(2924-03045120-2A1647835&v=undefined)

QUALIFIED PERSON STATEMENT

The technical information contained in this disclosure has been reviewed and approved by Mr Nicholas O’Reilly (MSc, DIC, MIMMM QMR, MAusIMM, FGS), who is a qualified geologist and acts as the Qualified Person under the AIM Rules – Note for Mining and Oil & Gas Companies. Mr O’Reilly is a principal consultant working for Mining Analyst Consulting Ltd which has been retained by First Development Resources plc to provide technical support.

GLOSSARY

Term

Definition

3D Inversion Modelling

A technique that converts geophysical survey data into a three-dimensional (3D) map of underground structures, highlighting areas likely to host minerals.

Aeromagnetic (AMAG) survey

An airborne geophysical survey that measures variations in the Earth’s magnetic field to map subsurface geology and structures.

Air-Core (AC) Drilling

A drilling method for sampling shallow rocks efficiently, commonly used in early-stage exploration.

Alteration patterns

Recognisable changes in rocks caused by hot fluids moving through them, which can help indicate where valuable minerals may be concentrated.

Chargeability information (GAIP Survey)

Measures how strongly subsurface rocks hold an electric charge after introducing an electrical transmitter current into the ground, helping identify zones with disseminated sulphide minerals linked to gold.

First Vertical Derivative (1VD)

A magnetic data filter processing technique that calculates the rate of change of the magnetic field with height, enhancing short-wavelength anomalies and sharpening the edges of magnetic anomalies related to geological contacts, alteration zones, faults, and shear zones.

Geochemical information

Chemical data from rocks, soils, or fluids that is used to identify and understand areas with potential mineral deposits.

Geophysical survey

A method of measuring physical property changes in the Earth, such as magnetism, gravity, or electrical conductivity, to identify subsurface geological rock units, structures and potential mineral deposits.

Gradient Array Induced Polarisation (GAIP) survey

A geophysical survey method that maps anomalies caused by subsurface geology and mineralisation by measuring electrical properties of the ground. GAIP helps identify and prioritise prospective gold targets for follow-up exploration and drilling.

Granitic Batholith

A large underground granite body often associated with mineral deposits.

High-resolution (AMAG Survey)

Refers to geophysical data collected at closely spaced intervals (100m or less), providing detailed and precise information about subsurface magnetic features to improve target definition for exploration.

Hydrothermal alteration

Changes in rock caused by hot, mineral-rich fluids, often forming new minerals and altering the rock’s original composition.

Intrusive Related Gold (IRG)

Gold associated with igneous intrusions, commonly forming structurally controlled or disseminated deposits.

Line Kilometre

One kilometre of a geophysical survey line flown or surveyed. Total line kilometres indicate the survey’s overall coverage.

Lithological boundary

The contact or transition between different rock types, which can influence how fluids move and where minerals may accumulate.

Metasediments

Sediment-based rocks that have been metamorphosed, often forming targets for mineral exploration.

Meta-volcanic host rocks

Volcanic rocks altered by heat or pressure that host or control the formation of mineral deposits.

Mineralisation

The process by which valuable minerals are formed and concentrated in rocks, creating zones that may be mined for metals or other resources.

Radiometric (RAD) survey

Measures natural gamma radiation from rocks and regolith related to potassium (K), thorium (Th) and uranium (U) concentrations in the surface outcrop to highlight areas altered by minerals, helping pinpoint potential gold and other deposits.

Resistivity information (GAIP Survey)

Measures how strongly subsurface rocks resist electrical current, helping map geological rock units, structures, sulphide mineralisation and hydrothermal alteration zones

Reverse-Circulation (RC) Drilling

A standard exploration drilling approach that produces clean samples for assessing mineral deposits.

Shear hosted

Describes a rock or mineral deposit that occurs within, and is controlled by, a shear zone, where deformation created pathways for hydrothermal fluids and mineral deposition.

Shear zone

A zone of intense deformation where rocks have been sheared and fractured, often hosting gold due to the increased porosity formed along the shear zone.

Skarn-Type Gold Targets

Gold deposits formed where igneous intrusions alter carbonate rocks, creating mineral-rich zones.

Stafford Gold Trend

A regionally significant mineralised corridor in the Northern Territory, Australia, known for hosting gold and high-grade antimony deposits, which provides structural and geological continuity for exploration targets like Lander West.

Structural feature

A geological break or deformation in rocks such as faults, shear zones, or folds.

Subsurface geology

The type, structure, and arrangement of rocks below the Earth’s surface that help explain how mineral deposits may have formed.

Total Magnetic Intensity (TMI)

The measured strength of the Earth’s magnetic field at a location, including contributions from both the regional geomagnetic field and local magnetic variations caused by subsurface geology.

Zone of deformation

An area of rock altered or deformed by stress, such as faulting or folding.

For further information visit www.firstdevelopmentresources.com or contact the following:

First Development Resources plc

Tristan Pottas (CEO)

Tel: +44 (0) 20 3778 1397

Beaumont Cornish Limited

Nominated Adviser

Roland Cornish / Asia Szusciak

Tel: +44 (0) 20 7628 3396

SI Capital Limited

Broker

Nick Emerson

Tel: +44 (0) 1483 413 500

Beaumont Cornish Limited (‘Beaumont Cornish’) is the Company’s Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish’s responsibilities as the Company’s Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.

ABOUT FIRST DEVELOPMENT RESOURCES

First Development Resources’ assets comprise eight granted tenements covering a total area of 2,314.4km2. Five of the tenements, comprising three prospective copper-gold projects, are located in Western Australia (WA), while the remaining three tenements, comprising a rare-earth element (REE), uranium, lithium and gold project, are located in the Australian’s Northern Territory. All tenements are wholly owned by FDR. The assets are a mixture of drill ready and earlier stage exploration.

The WA Projects include the Company’s Wallal Project, as well as Ripon Hills and Braeside West Projects, which are all situated in the Paterson Province, which is widely regarded as one of the most productive regions in Australia for the discovery of world-class gold-copper deposits, and is home to several world-class mines and more recent discoveries.

The Selta Project in the Northern Territory is located in an area considered to be highly prospective for uranium and rare-earth element mineralisation, along with base and precious metal mineralisation. Numerous companies are actively exploring within the region.

Beyond the existing portfolio, FDR is actively looking to expand its portfolio through the acquisition of early-stage exploration projects in Australia.

Source

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Secretary of State Marco Rubio will publicly testify on the Trump administration’s policy in Venezuela Wednesday morning after vowing to lawmakers that no more military action was expected in the region. 

Rubio’s return to the Hill, an increasingly frequent occurrence in recent months, comes after he, President Donald Trump, administration officials and Senate Republican leadership successfully killed a bipartisan push to rein in the president’s war authorities in Venezuela. 

His scheduled appearance before the Senate Foreign Relations Committee Wednesday at 10 a.m. comes just weeks after he helped to convince two lawmakers, Sens. Todd Young, R-Ind., and Josh Hawley, R-Mo., to flip their votes and back the administration. 

Both were concerned about boots on the ground in Venezuela and Congress’ constitutional authority to weigh in on the matter.

They were convinced by Rubio and the administration that no further military action would take place, and that if it were, President Donald Trump would come to Congress first. 

Young said at the time that the effort, spurred by Sen. Tim Kaine, D-Va., was ultimately just a messaging exercise that never would have survived in the House, nor evaded a veto from Trump. 

‘I had to accept that this was all a communications exercise,’ Young said. ‘I think we [used] this moment to shine a bright light on Congress’ shortcomings as it relates to war powers in recent history.’

Rubio also wrote to Senate Foreign Relations Chair James Risch, R-Idaho, to spell out that the administration would clue in Congress should any future military action take place in the region.

‘Should there be any new military operations that introduce U.S. Armed Forces into hostilities, they will be undertaken consistent with the Constitution of the United States, and we will transmit written notifications consistent with section 4(a) of the War Powers Resolution (Public Law 93-148),’ he said.

However, Rubio’s appearance before the panel comes on the heels of unrest stateside following another fatal shooting in Minnesota, where Alex Pretti was killed in the midst of a Department of Homeland Security-led immigration operation in Minneapolis.

While he won’t have to answer for that situation, it has drastically shifted the Senate’s attention over the last several days. 

It also follows Kaine’s vow to file several more war powers resolutions against Trump, specifically against action in Greenland, Iran and elsewhere. 

Kaine believed that he could take advantage of cracks that formed in Republicans’ unified front earlier this month, when five joined all Senate Democrats to advance his resolution to require any future military action in Venezuela would need Congress’ approval.

‘The way cracks grow is through pressure and the pressure campaign that I sort of decided to launch by use of these privileged motions,’ Kaine said after his initial push failed. 

‘I’m going to file every one I can to challenge emergencies, to challenge unlawful wars, to seek human rights reports, arms transfers if they’re wrong,’ he continued.

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House Republicans are coalescing around progressive ‘Squad’ member Rep. Ilhan Omar, D-Minn., after she was attacked during a town hall in Minneapolis on Tuesday night.

‘This is totally unacceptable. I am glad Rep. Omar is okay,’ Rep. Pete Stauber, R-Minn., wrote on X in response to a video of the incident.

It’s a rare show of bipartisanship in the face of political violence that has become common in recent years amid increasingly volatile rhetoric on both sides.

Support for Omar came from both conservative and moderate Republicans after a man appeared to confront her and spray a substance on her before he was quickly subdued at her public event.

‘Political, religious, and ideological differences never justify violence,’ Rep. Nathaniel Moran, R-Texas, wrote of the attack. ‘Those who resort to violence to make a political point should understand that such actions only undermine the very rights that form the foundation of our Republic.’

Rep. Tom Barrett, R-Mich., noted that political violence against members of Congress had been escalating for some time.

‘The assault on Congresswoman Omar is disturbing and unacceptable, and the attacker must be prosecuted and punished to the full extent of the law,’ he said in his own statement. ‘This attack is the latest of thousands of acts and threats of violence directed against Congress over the past year, resulting in a 57% increase just since 2024.’

Moderate Rep. Don Bacon, R-Neb., similarly said Wednesday morning, ‘I condemn the attack on Rep. Ilhan Omar that occurred yesterday.’

‘We always have the right to free speech and to petition the government, but political violence must be dealt with sternly. The criminal here needs to spend some time behind bars,’ Bacon said.

And Rep. Nancy Mace, R-S.C., noted she ‘deeply disagreed’ with Omar but said she was ‘deeply disturbed’ by the attack.

‘No elected official should face physical attacks. This is not who we are,’ Mace said.

It comes in addition to a slew of Democrats condemning the incident, though several immediately sought to blame President Donald Trump and the GOP for previously criticizing the progressive Minnesota lawmaker.

‘Trump’s hateful, dangerous rhetoric fuels this kind of political violence, and we must all reject it,’ said Rep. Rob Menendez, D-N.J.

And Rep. Alexandria Ocasio-Cortez, D-N.Y., wrote on X, ‘It is not a coincidence that after days of President Trump and [Vice President] Vance putting Rep. Omar in their crosshairs with slanderous public attacks, she gets assaulted at her town hall.’

The attack occurred minutes after Omar’s town hall began, and despite being urged to wrap up the event, she continued until the end.

Her office released a statement afterward, ‘During her town hall, an agitator tried to attack the Congresswoman by spraying an unknown substance with a syringe. Security and the Minneapolis Police Department quickly apprehended the individual. He is now in custody. The Congresswoman is okay. She continued with her town hall because she doesn’t let bullies win.’

The suspect who attacked her was arrested and charged with third-degree assault.

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The U.S. is not preparing to utilize additional military force in Venezuela, but won’t hesitate to employ such force in the event of an ‘imminent threat,’ according to Secretary of State Marco Rubio. 

‘The president never rules out his options as commander-in-chief to protect the national interest of the United States,’ Rubio told lawmakers on the Senate Foreign Relations Committee Wednesday. ‘I can tell you right now with full certainty, we are not postured to, nor do we intend or expect to have to take any military action in Venezuela at any time. The only military presence you will see in Venezuela is our Marine guards at an embassy.’ 

That said, Rubio said that certain events could warrant military actions — pointing to a hypothetical scenario where an Iranian drone factory emerged in the region and threatened U.S. presence or allies there. 

‘The president does reserve the option in self-defense to eliminate that threat,’ Rubio said. ‘We don’t see that, we don’t anticipate that, but it could happen. We hope not … But I think it would require the emergence of an imminent threat of the kind that we do not anticipate at this time.’ 

Rubio’s remarks came in response to questions about his prepared statement, which said that the U.S. is prepared to exert military force to ensure cooperation from Venezuela’s interim government if it defies Washington following the ouster of dictator Nicolás Maduro. 

‘We are prepared to use force to ensure maximum cooperation if other methods fail,’ Rubio’s prepared testimony had said, which he ultimately did not end up using. ‘It is our hope that this will not prove necessary, but we will never shy away from our duty to the American people and our mission in this hemisphere.’

Rubio’s prepared testimony also maintained that there are no U.S. troops in Venezuela, and that the operation did not amount to waging a war in Caracas.

‘There is no war against Venezuela, and we did not occupy a country,’ Rubio said in his prepared remarks. ‘There are no U.S. troops on the ground. This was an operation to aid law enforcement.’

The move to ouster Maduro has attracted scrutiny, mostly from Democrats, who have called into question the legality of the operation in Venezuela, which was conducted without Congress’ approval. 

But efforts in Congress to pass a war powers resolution that would have limited the Trump administration from conducting additional military action in Venezuela failed to pass earlier in January. Rubio previously has claimed Congressional approval wasn’t required because the operation was not an ‘invasion.’

On Wednesday, Rubio said that should U.S. military forces be involved in Venezuela in a ‘sustained’ way, Congress would receive notification 48-hours after the fact, and would be required to receive Congressional approval if the engagement lasted longer than 60 days. 

Rubio also told lawmakers that Congress wasn’t consulted about the potential raid due to concerns from the Department of War about leaks, and because it wasn’t even a possibility to execute such a mission until late December 2025 after all negotiation efforts with Maduro had failed. 

‘It was also a trigger-based operation. It may never have happened,’ Rubio said. ‘It required a number of factors to all align at the right place, at the right time, in a very limited window, and it wasn’t even clear if it was ever going to be possible.’ 

On Jan. 3, President Donald Trump announced that U.S. special forces had executed a ‘large-scale strike’ against Caracas, Venezuela, and seized Maduro and his wife, Cilia Flores. The two were transported to New York and appeared in a Manhattan federal court Jan. 5 on drug charges, where they each pleaded not guilty.

The raid followed months of pressure on Venezuela to squeeze out Maduro amid more than two dozen strikes in Latin American waters against alleged drug traffickers — which the Trump administration claimed aligned with Trump’s effort to curb the influx of drugs into the U.S.

Since Maduro’s capture, the U.S. has conducted at least one additional strike against alleged drug trafficking vessels in the region. 

The Trump administration had previously asserted that it did not recognize Maduro as a legitimate head of state and instead, claimed he was the leader of a drug cartel. Additionally, Trump said in December 2025, shortly before the operation, that he believed it would be ‘smart’ for Maduro to step down.

The Trump administration has so far backed Maduro’s vice president, Delcy Rodríguez, to lead Venezuela’s interim government. 

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A new report is warning that the combined war casualties in the nearly four-year Russia-Ukraine war could hit 2 million by spring 2026. The number includes soldiers killed, injured or missing on both sides of the conflict.

The Center for Strategic and International Studies (CSIS) released a report on Tuesday predicting the grim milestone. CSIS states that Russia suffered 1.2 million casualties, including 325,000 troop deaths, between February 2022 and December 2025. It estimates that Ukraine suffered between 500,000 to 600,000 casualties, including 140,000 troop deaths. CSIS estimates that the current combined Russian and Ukrainian casualties could be as high as 1.8 million.

Getting a clear picture of the fatalities and casualties suffered on both sides is not easy as neither Moscow nor Kyiv gives timely data on military losses, according to The Associated Press, which noted that the two countries are also simultaneously focused on amplifying each other’s casualties. Russia has publicly acknowledged the deaths of just over 6,000 soldiers, the AP reported. 

The outlet noted that activists and independent journalists have said that reports of military losses have been repressed in Russian media.

‘Despite claims of battlefield momentum in Ukraine, the data shows that Russia is paying an extraordinary price for minimal gains and is in decline as a major power,’ the report reads.

‘No major power has suffered anywhere near these numbers of casualties or fatalities in any war since World War II,’ the report notes.

Russian battlefield casualties and fatalities have been ‘significantly higher’ than Ukraine’s, according to the report. 

CSIS estimates the ratio to be roughly 2.5:1 or 2:1. CSIS points to several reasons for the high Russian casualties and fatalities, including the country’s ‘failure to effectively conduct combined arms and joint warfare, poor tactics and training, corruption, low morale and Ukraine’s effective defense-in-depth strategy in a war that favors the defense.’ The report also states that Russia has accepted taking high casualties as part of its strategy.

‘Russia’s attrition strategy has accepted the costs of high casualties in hopes of eventually wearing down Ukraine’s military and society,’ CSIS states in its report.

In addition to its high casualty rate, Russia has also been advancing ‘remarkably slowly,’ according to the report. CSIS stated in its report that Russian forces had advanced at an average rate of 15 to 70 meters (49 to 230 feet) per day in its most prominent offenses since seizing the military initiative in January 2024. The authors of the report say Russia’s pace is ‘slower than almost any major offensive campaign in any war in the last century.’

The report comes less than one month before the fourth anniversary of Russia invading Ukraine. Despite international mediators, including the U.S., making attempts to end the war, it has persisted, with both sides suffering casualties.

On Wednesday, Ukrainian officials said two people were killed during Russian strikes that hit an apartment block on the outskirts of Kyiv, the AP reported. Additionally, at least nine people were injured in separate attacks on the Ukrainian cities of Odesa and Kryvyi Rih.

Representatives for Ukraine, Russia and the U.S. recently met in the United Arab Emirates for the first trilateral talks since 2022. Ukrainian President Volodymyr Zelenskyy said in a post on X that the ‘conversations were constructive.’

‘A lot was discussed, and it is important that the conversations were constructive,’ he wrote on X, noting the delegations could have further meetings as early as next week. ‘As a result of the meetings held over these days, all sides agreed to report back in their capitals on each aspect of the negotiations and to coordinate further steps with their leaders.’

Fox News Digital reached out to Russia and Ukraine’s foreign affairs ministries.

The Associated Press contributed to this report.

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China’s expanding push into the Pacific Islands is raising alarms among experts, who warn that Beijing is quietly working to establish a foothold in territory long viewed as vital to American defense.

Rather than deploying troops or building overt military bases, experts say China is using infrastructure projects, political influence and economic leverage to gain access to strategically sensitive areas across Micronesia, a region tied to the United States through decades-old security agreements.

Fox News Digital has learned that a Chinese-backed runway on the island of Yap is due to be officially opened during a handover ceremony on Feb 9. The president of the Federated States of Micronesia is expected to attend, along with representatives from the Chinese company involved in the project.

One of the experts tracking the developments, Foundation for Defense of Democracies (FDD) senior fellow Cleo Paskal, traveled to the Federated States of Micronesia to see them firsthand. She told Fox News Digital she spent four days sleeping on the open deck of a Chinese-donated cargo ship in order to witness a Chinese company breaking ground on a project to rehabilitate a World War II Imperial Japanese runway.

‘It’s not a huge runway, but what it does is it gets China in the door and on the ground in a very strategic location,’ Paskal said.

The project is located in the state of Yap, a remote east-to-west island chain that sits along key maritime and air routes connecting Hawaii, Guam and East Asia. U.S. military planners have long considered Yap one of the most strategically important locations in the Pacific.

Paskal said the same Chinese company involved in the runway is now working on another major infrastructure project on Yap: the reconstruction of a bridge on the main island.

‘At the same time, because of how strategic it is, Secretary Hegseth announced not that long ago about $2 billion worth of defense infrastructure investment for Yap,’ she said. ‘Now, when he says Yap, what he means is the main island of Yap.’

According to Paskal, that distinction matters.

‘The story here is that the Department of War is focused on the main island, but, from what I’ve seen, there are no plans for the rest of the island chain,’ she said. ‘Meanwhile, the Chinese are using other entry points into the political and economic system in order to start to break open access to Yap.’

She described China’s approach as fundamentally different from Washington’s.

‘So it’s not just a physical kinetic infrastructure operation,’ Paskal said. ‘It’s also a political warfare operation, whereas the U.S. is focusing more just on a very narrow band of the kinetic map.’

The geography at stake has shaped American security strategy for generations.

During World War II, the lagoon at Ulithi, part of the Yap island chain, served as the largest U.S. naval base in the world, hosting hundreds of American warships as the military prepared for operations against Imperial Japan.

That history, Paskal said, helps explain why the region remains so sensitive today.

Under the Compact of Free Association, the United States retains exclusive defense rights in Micronesia. The agreements allow Washington to deny military access to other powers, establish defense facilities and maintain strategic control, while granting Micronesian citizens the right to live and work in the United States and serve in the U.S. military. The Compact creates such deep ties that Micronesia is considered part of the U.S. domestic mail system.

The compacts were designed after World War II to ensure Pacific islands once controlled by Japan could never again be used as launch points for attacks against the United States.

But Paskal warned that China is finding ways to work around, and potentially undermine, those arrangements.

She said U.S. officials often focus on visible construction sites while underestimating the broader political campaign that enables Chinese access in the first place. This includes cultivating ties with national leaders, engaging local officials such as customs and immigration officers and securing contracts through regional development banks in order to place Chinese companies and personnel on the ground.

According to Paskal, Chinese firms are often willing to absorb financial losses in exchange for long-term strategic positioning.

The concern is heightened by political shifts within Micronesia itself. While states such as Yap have historically been more resistant to Chinese engagement, the national government has grown closer to Beijing in recent years.

Former President of the Federated States of Micronesia David Panuelo warned in a March 9, 2023, letter that China was engaging in political warfare, including alleged bribery and pressure campaigns. He later lost his re-election bid, while the current government is viewed as more receptive to China.

When asked by Fox News Digital about China’s activities in Micronesia, a spokesperson for the Chinese Embassy in Washington said, ‘I am not aware of the specifics.’

The spokesperson emphasized that China views Pacific Island Countries (PICs) as partners in development and denied any geopolitical intent.

‘China always respects the sovereignty and territorial integrity of PICs,’ the spokesperson said, adding that Beijing has ‘never interfered in the internal affairs of PICs, never attached any political strings, and never sought any geopolitical self-interest.’

Paskal said this characterization is not accurate, pointing to what she described as China’s targeted efforts to interfere with the internal decisions of three Pacific Island countries — Palau, the Marshall Islands and Tuvalu — to recognize Taiwan, including explicitly attaching support to derecognition.

The spokesperson’s statement added that the South Pacific should be ‘a stage for cooperation, rather than an arena for vicious competition’ and insisted China’s engagement does not target any country.

For U.S. security experts, however, the concern is not a single runway or bridge, but the gradual erosion of strategic access in a region that has underpinned American defense for more than 80 years.

China expert Gordon Chang told Fox News Digital, ‘We lost so many American lives in World War Two, taking these islands from the Japanese. And now we are letting China dominate them. This is just wrong. I can’t, I get angry when I think about this. But the important point here is that we have the power to stop this,’ he said.

‘The three compact states are our closest military allies, our closest allies full stop. We said that again. The three complex states in the Western Pacific are our closet allies. Guam is actually part of the United States. So we have the power to stop this and we’re not doing that. And this is now on us, a strategic failure, a failure to understand what China is doing. I hope that the administration starts to understand the significance of what’s occurring and moves to block Chinese infiltration of the Western Pacific.’

As Paskal warned, China’s campaign in the Pacific is unfolding not through force, but through influence, access, patience and presence.

Neither the White House nor the Department of War responded to requests for comment from Fox News Digital.

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Raptor Metals Ltd (ASX: RAP) (formerly Eastern Metals Limited (ASX: EMS)), advises that, following the General Meeting of Shareholders held on 7 November 2025 at which Shareholders approved the change of Company name from Eastern Metals Limited to Raptor Metals Ltd, the Australian Securities and Investment Commission has recorded the change.

For ASX purposes, the effective date for the Company name and ASX code change is 29 January 2026.

The Company will commence trading under its new name and ASX code (ASX: RAP) from the commencement of trading on 29 January 2026.

The Company’s new website is www.raptormetals.com.au

Managing Director, Brett Wallace said:

‘We are very pleased to launch our exploration activities under the new banner of Raptor Metals Ltd. We believe the name Raptor Metals better represents our future, with an invigorated Board and management group plus the diversification into Canadian copper exploration within our portfolio’.

This announcement has been authorised for release by the Board of Directors.

For further information, please contact:

Company
Raptor Metals
Brett Wallace
E. brett@raptormetals.com.au

Investor Relations
NWR Communications
Melissa Tempra
E. melissa@nwrcommunications.com.au

About Raptor Metals Ltd

Previously Eastern Metals Limited (ASX: EMS), Raptor Metals acquired Raptor Resources and is now focused on Canadian copper exploration with two projects in the historic Bathurst Mining Camp in New Brunswick. For further information regarding Raptor Metals and its portfolio of projects, please refer to the ASX announcement titled “Recompliance Prospectus” dated 10 October 2025 (released to ASX on 16 October 2025), or visit the Company’s website at www.raptormetals.com.au or ASX platform (ASX: RAP).

Forward-looking Statements

Any forward-looking statements in this document involve subjective judgment and are subject to uncertainties, risks, and contingencies outside the Company’s control. Actual events may vary materially. Recipients are cautioned not to place undue reliance on such statements. Raptor Metals disclaims liability for any loss arising from reliance on this information.

Competent Person Statement

The information in this announcement relating to the technical assessment of mineral assets, exploration results and mineral resources was reported in the ASX announcements released by the Company titled “Recompliance Prospectus” dated 10 October 2025 and “Pre-Reinstatement Disclosure” dated 7 January 2026. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original ASX announcements and that all material assumptions and technical parameters underpinning the original ASX announcements continue to apply and have not materially changed.

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Richmond Hill Resources PLC (AIM: RHR) announces that the Company has raised gross proceeds of £600,000 through a placing of 23,077,000 new ordinary shares of 0.1 pence each (‘Ordinary Shares’) at a price of 2.6 pence per new ordinary share (the ‘Issue Price’) (the ‘Placing’). In addition, further to the announcement on 18 December 2025, the Company has entered into a sale and purchase agreement (“SPA”) with Ulvestone Ltd (“the Vendor”) with respect to the Martello Gold Project in Canada.

Placing

Richmond Hill has raised gross proceeds of £600,000 comprising the Placing of 23,077,000 new Ordinary Shares at the Issue Price through its broker, Clear Capital Limited. The Issue Price represents a 6% premium to the mid-market closing price of 2.45 pence per Ordinary Share on 27 January 2026, being the latest practicable business day prior to the publication of this announcement.

The net proceeds of the Placing will be used to provide the Company with additional funding for general working capital and to progress its newly acquired Martello Gold Project in Ontario, Canada.

The Company is exploring the implementation of a facility to enable retail investors to participate in a future equity fundraise. A further announcement will be made in due course should such a facility be established.

Martello Gold Project

The Company has entered into an SPA to acquire the Martello Gold Project. The terms of the SPA are the same as the terms announced on 18 December 2025 with the exception that the vendor party has changed from Olerud Ltd to Ulvestone Limited. Ulvestone Ltd has assumed the Vendor’s rights and obligations under the transaction in place of Olerud Ltd. Both companies are controlled by James Ikin, a substantial shareholder in the Company.

As announced on 5 January 2026, work has commenced on historic data compilation and digitisation is ongoing to define high-priority drill targets for a maiden drill programme.The Company has been informed that the database compilation will be completed shortly.

Initial Cash and Equity Payment and Issue of Creditor Shares

Richmond Hill will shortly make a payment to the Vendor of £100,000 in cash.

Richmond Hill has also issued 38,750,000 new Ordinary Shares at a price of 2 pence per share (‘Consideration Shares’) to the Vendor in line with the first tranche payment due to the Vendor under the SPA.

The Company has also issued 1,300,000 new Ordinary Shares in the Company at a price of 2 pence per share to an outstanding creditor to settle existing liabilities (“Creditor Shares”).

Related Party Transaction

James Ikin, who is a substantial shareholder in the Company, controls the Vendor and therefore the entering into of the SPA constitutes a related party transaction pursuant to Rule 13 of the AIM Rules for Companies. The directors of the Company, all being independent of the transaction, having consulted with the Company’s nominated adviser, Cairn Financial Advisers LLP, consider that the terms of the transaction are fair and reasonable insofar as the Company’s shareholders are concerned.

Admission

Application will be made to the London Stock Exchange for the admission of 63,127,000 new Ordinary Shares to trading on AIM (‘Admission’). Admission is expected to occur on or around 11 February 2026.The new Ordinary Shares will rank pari passu with the existing Ordinary Shares.

Total Voting Rights

For the purposes of the Disclosure and Transparency Rules, following Admission, the Company’s issued share capital will comprise 657,337,949 Ordinary Shares of 0.1 pence each. This figure may be used by shareholders as the denominator for calculations to determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure and Transparency Rules.

Hamish Harris, CEO of Richmond Hill, commented:The Board is delighted to have successfully raised funds at a premium to the prevailing share price on 27 January 2026. With gold trading above $5,000 per ounce at the time of this announcement and Richmond Hill is poised to commence drilling in the near term, we are excited about the significant momentum the Company has achieved in such a short period since listing. This fundraise positions us strongly to unlock value for shareholders as we advance our exploration programme.

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the Company’s ability to execute and implement future plans, and the occurrence of unexpected events. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

For further information, please contact:

Richmond Hill Resources

Hamish Harris

Tel: +44 (0)787958 4153

Cairn Financial Advisers LLP (Nominated Adviser)

Ludovico Lazzaretti / James Western

Tel: +44 (0)20 7213 0880

Clear Capital Limited (Broker)

Bob Roberts

Tel: +44 (0) 20 3869 6080

Further information on the Company can be found on its website at www.richmondhillresources.com

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Apollo Silver Corp. (‘Apollo Silver’ or the ‘Company’) (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) is pleased to announce that it has closed the second and final tranche of its previously announced upsized non-brokered private placement (the ‘Offering’), previously announced on January 21, 2026. Pursuant to the closing of the second and final tranche of the Offering, the Company issued an aggregate of 2,500,000 units (the ‘Units’) at a price of $5.00 per Unit for aggregate gross proceeds of $12,500,000. With the completion of this tranche, the Offering is now fully subscribed for total gross proceeds of $27,500,000.

A fund managed by Jupiter Asset Management (the ‘Jupiter Fund’) subscribed for all of the Units under the second and final tranche of the Offering.

As a result of closing the second and final tranche of the Offering, the Jupiter Fund now beneficially owns and controls 7,452,456 common shares and 3,807,200 common share purchase warrants of the Company, representing approximately 11.9% of the Company’s outstanding common shares on a non-diluted basis and approximately 16.9% on a partially diluted basis, assuming exercise of such warrants.

‘We welcome and appreciate the continued participation of Jupiter Fund, as a key shareholder of Apollo Silver,’ said Ross McElroy, President and CEO of Apollo Silver. ‘Jupiter Fund’s commitment is a strong statement of support as we continue to advance our large scale, high quality silver assets in stable jurisdictions.’  

Each Unit issued pursuant to the Offering consists of one common share (a ‘Share’) in the capital of the Company and one common Share purchase warrant (a ‘Warrant’). Each Warrant entitles the holder thereof to purchase one Share at an exercise price of $7.00 for a period of 24 months from the closing date of the Offering.

Closing of the Offering remains subject to final acceptance of the TSX Venture Exchange.

In connection with subscriptions received in the second and final tranche of the Offering, the Company paid aggregate finder’s fees totaling $312,500 to BMO Capital Markets.

The securities issued under the second and final tranche of the Offering are subject to a four-month hold period from the date of closing. The Company intends to use the net proceeds from the Offering to continue advancing the Calico Silver Project in San Bernardino, California; support community relations initiatives at the Cinco de Mayo Silver Project in Chihuahua, Mexico; cover ongoing property maintenance costs at both projects; and for general corporate purposes.

The Shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the ‘U.S. Securities Act’), or any U.S. state securities laws, and may not be offered or sold in the United States without registration under the U.S. Securities Act and all applicable state securities laws or compliance with the requirements of an applicable exemption therefrom. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Apollo Silver Corp.

Apollo Silver is advancing one of the largest undeveloped primary silver projects in the US. The Calico project hosts a large, bulk minable silver deposit with significant barite and zinc credits – recognized as critical minerals essential to the US energy and medical sectors. The Company also holds an option on the Cinco de Mayo Project in Chihuahua, Mexico, which is host to a major carbonate replacement (CRD) deposit that is both high-grade and large tonnage. Led by an experienced and award-winning management team, Apollo Silver is well positioned to advance the assets and deliver value through exploration and development.

Please visit www.apollosilver.com for further information.

ON BEHALF OF THE BOARD OF DIRECTORS

Ross McElroy
President and CEO

For further information, please contact:

Email: info@apollosilver.com

Telephone: +1 (604) 428-6128

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.

Cautionary Statement Regarding ‘Forward-Looking’ Information

This news release includes ‘forward-looking statements’ and ‘forward-looking information’ within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the final acceptance of the Offering by the TSXV, and the intended use of proceeds from the Offering. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as ‘anticipate’, ‘believe’, ‘plan’, ‘estimate’, ‘expect’, ‘potential’, ‘target’, ‘budget’ and ‘intend’ and statements that an event or result ‘may’, ‘will’, ‘should’, ‘could’ or ‘might’ occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-looking statements are based on the reasonable assumptions, estimates, analysis, and opinions of the management of the Company made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant and reasonable in the circumstances at the date that such statements are made. Forward-looking information is based on reasonable assumptions that have been made by the Company as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may have caused actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks associated with mineral exploration and development; metal and mineral prices; availability of capital; accuracy of the Company’s projections and estimates; realization of mineral resource estimates, interest and exchange rates; competition; stock price fluctuations; availability of drilling equipment and access; actual results of current exploration activities; government regulation; political or economic developments; environmental risks; insurance risks; capital expenditures; operating or technical difficulties in connection with development activities; personnel relations; and changes in Project parameters as plans continue to be refined. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the price of silver, gold and barite; the demand for silver, gold and barite; the ability to carry on exploration and development activities; the timely receipt of any required approvals; the ability to obtain qualified personnel, equipment and services in a timely and cost-efficient manner; the ability to operate in a safe, efficient and effective matter; and the regulatory framework regarding environmental matters, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information contained herein, except in accordance with applicable securities laws. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding the Company’s expected financial and operational performance and the Company’s plans and objectives and may not be appropriate for other purposes. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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Hamak Strategy Limited (LSE: HAMA / OTCQB: HASTF) a company combining traditional gold exploration in Africa with A Digital Asset Treasury Management strategy, is pleased to announces the acquisition of Bitcoin and gold bullion as part of its broader capital allocation and treasury management strategy. The Bitcoin was purchased via its FCA-regulated digital asset exchange broker and custodian, Archax. The gold was purchased via a Hamak Corporate Account held with the world’s largest online investment gold service, BullionVault UK (a member of the London Bullion Market Association).

Highlights

  • Number of Bitcoin Purchased (on 3 January 2026) : 3 Bitcoin
  • Average purchase price: £66,567 per Bitcoin
  • Total amount purchased: £199,703
  • Total Bitcoin held: 23
  • 1.65kg Gold purchased (on 27 January 2026)
  • Total amount of gold purchased (including buying commissions): £195,360

Executive Director Karl Smithson commented:

‘We believe the holding of both physical gold assets and Bitcoin, offers a distinctive differentiation in the junior resources sector, providing a blend of traditionally defensive and digitally disruptive exposure.

‘We aim to rapidly develop our hybrid treasury strategy, which the Board believes will deliver low correlation to conventional equity market cycles while offering clear potential upside from long-term structural trend.

‘This initiative forms part of a more comprehensive treasury framework designed to incorporate strategic reserves, liquidity tools, and non-dilutive value protection mechanisms for shareholders.’

For the purposes of UK MAR, the person responsible for arranging release of this announcement on behalf of Hamak is Karl Smithson, Executive Director.

For further information on Hamak you are invited to view the company’s website at https://hamakstrategy.com/ or please contact:

Hamak Strategy Limited

Karl Smithson

k.smithson@hamakstrategy.com

AlbR Capital Limited (Corporate Broker)

Yellow Jersey PR

Annabelle Wills

+44 (0) 20 7469 0930

+44 (0) 20 3004 9512

About Hamak Strategy Limited

Hamak Strategy Limited (LSE: HAMA / OTCQB: HASTF) is a UK listed company focussed on gold exploration in Africa and with a strategy of pursuing an appropriate and compliant BTC/ crypto treasury management policy.

Important Notice

The Company maintains some of its treasury reserves and surplus cash in Bitcoin, a form of cryptocurrency. The Company is not authorised or regulated by The Financial Conduct Authority (FCA) and Bitcoin investments are generally not subject to regulation by the FCA or otherwise in the United Kingdom. Neither the Company nor investors in the Company’s shares are protected by the UK’s Financial Ombudsman Service or the Financial Services Compensation Scheme.

However the FCA considers Bitcoin investments to be high-risk. The value of Bitcoin can go up as well as down, leading to fluctuations in the value of the Company’s Bitcoin holdings, and the Company may not be able to realise its Bitcoin holdings for the same amount it paid to acquire them, or even for the value the Company currently attributes to its Bitcoin positions.

The Company’s Board of Directors have identified the following risks in relation to the holding of Bitcoin, which are not exhaustive:

  • The value of Bitcoin can be highly volatile, with its value falling as quickly as it rises. Investors in Bitcoin must be prepared to lose all money invested.
  • The Bitcoin market is largely unregulated. There is a risk of losing money due to factors such as cyber-attacks, financial crime, and counterparty failure.
  • The Company may not be able to sell its Bitcoin at will. The ability to sell Bitcoin depends on various factors, including the supply and demand in the market at the relevant time. Operational failings such as technology outages, cyber-attacks, and comingling of funds could cause unwanted delays.
  • Cryptoassets carry a perception of fraud, money laundering, and financial crime.

An investment in the Company is not an investment in Bitcoin itself, but prospective investors in the Company are encouraged to conduct their own research before investing and should be aware that they will have indirect exposure to the high-risk nature of cryptoassets, including their volatility, and could therefore sustain large or total losses of their investment.

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