March 2, 2026

Politics

Gas prices could jump as Middle East tensions threaten global oil supply

March 2, 2026

Americans could soon see higher gas prices as escalating tensions in the Middle East threaten a critical global oil chokepoint, raising fears of supply disruptions that could quickly reverberate across U.S. energy markets.

After joint U.S.–Israeli strikes, dubbed Operation Epic Fury, targeted Iranian sites over the weekend and killed Iran’s Supreme Leader Ayatollah Ali Khamenei, concerns quickly shifted to how Tehran might respond and whether oil infrastructure or tanker traffic could become collateral damage.

Any disruption to global crude supplies could translate into higher costs for American drivers at the pump.

‘Every time we’ve had flare-ups in the Middle East like we’re seeing right now — and we’ve seen this kind of situation periodically over the last 50 years — it has caused significant disruption to energy markets,’ economist Stephen Moore told Fox News Digital.

‘I would expect we could see anywhere from 25 to 50 cents a gallon increase in gas prices in the short term,’ he said.

Market data already shows prices moving higher.

Patrick De Haan, head of petroleum analysis at GasBuddy, said oil prices were up $5 per barrel, while wholesale gasoline prices had risen 11 cents per gallon.

He expects retail gas prices to begin climbing immediately, especially in areas where stations tend to adjust prices in sharp, periodic jumps.

The national average could hit $3 per gallon as soon as Monday, De Haan said, with some stations increasing prices by 10 to 30 cents this week and potentially more in markets that see larger price swings.

Moore warned that prices could climb further and remain elevated if vital transit routes or oil facilities are disrupted.

‘Huge amounts of global oil travel through the Strait of Hormuz, so this could be incredibly disruptive, delaying delivery of oil and gas,’ he said.

‘The Iranians have already knocked out some oil facilities in the Middle East, and who knows what they’re up to next. When you have less supply, prices go up. The big question is whether this will be a temporary bump or something more prolonged.’

The ongoing conflict sits near the Strait of Hormuz, one of the world’s most strategically important energy corridors.

‘This shipping route represents around 25% of global oil trade and 23% of liquefied natural gas trade,’ explained Jaime Brito, executive director of refining and oil products at OPIS.

The Strait of Hormuz, a narrow shipping lane between Iran and Oman that has long been a flashpoint during regional crises, serves as a vital artery for global energy markets.

Roughly 20 million barrels of crude oil and petroleum products — about one-fifth of global oil supply — transit the strait each day, underscoring how disruption there can quickly send shockwaves through international energy markets.

Highlighting the growing concern, Maersk, widely regarded as a bellwether for global ocean freight, said it will suspend all vessel crossings through the Strait of Hormuz until further notice and cautioned that services to Arabian Gulf ports may be delayed.

Still, not all price movements are immediate.

‘Developments over the weekend in the Middle East should hypothetically take time to ripple into the global supply chain. An initial assessment would suggest no specific price impacts should be seen in the gasoline market across the world, including the U.S.,’ Brito told Fox News Digital.

However, Brito said prices could climb quickly if markets expect trouble ahead, even before supplies are actually affected.

As a result, Brito said, developments in Iran may have already translated into higher gasoline, diesel and other fuel prices in parts of the U.S., depending on regional supply dynamics and individual company pricing strategies.

From a domestic standpoint, Brito added that gasoline prices follow a seasonal pattern, typically climbing during the summer travel months.

‘March prices are not expected to be significantly high,’ he said, noting that spring break travel could support demand in certain areas — but not at the level seen during peak summer driving season.

Ultimately, the direction of gasoline prices will depend less on seasonal demand and more on how the geopolitical situation unfolds in the days ahead.

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Missiles above, newborns below: Israeli hospitals shift critical care underground

March 2, 2026

The Israeli Health Ministry reported Monday that 777 people have been evacuated to hospitals since the start of the joint Israeli-U.S. war against Iran.

At least 10 people were killed directly by Iranian missile attacks on Israel, and two died on their way to shelters.

Since fighting began Saturday morning, hospitals nationwide have restructured operations, relocating patients underground to maintain functionality.

‘See, this child,’ professor Efrat Bron-Harlev, CEO of Schneider Children’s Medical Center, told Fox News Digital, pointing to a young patient. ‘This cart is his artificial heart. He has been living here while waiting for a heart transplant. He moved to the underground area together with 119 other children. This is not just a hospital — it’s his home.’

Schneider Children’s Medical Center has so far treated three children injured as a result of the war. The greater challenge, Bron-Harlev said, is continuing to care for all existing patients as missile sirens sound across the country.

All patients have been relocated to level minus one. Standing in a corridor, Bron-Harlev explained that if a missile were to strike at that moment, those present would need to move behind the heavy doors of reinforced areas for protection.

Once sealed, she said, the fortified section is designed to withstand even a direct missile hit and continue operating as a unit for a limited time. ‘We have electricity supplied by large batteries located in another sheltered area, as well as oxygen and air,’ she said. ‘How long we could remain there would depend on the extent of damage to the overall building. A catastrophic strike on the oxygen tanks, for example, would affect how long we could stay.’

Lessons learned from the June 2025, 12-day war include establishing a separate unit for bone marrow transplant patients with an independent ventilation system. Fresh air enters and exits the space without circulating from the regular ward, protecting the children not only from missile threats but also from potential infections from other patients.

In the event of a mass-casualty incident involving severely ill children, the hospital has prepared an intensive care unit capable of accommodating up to 20 patients at a time.

The staff’s underground dining room has been converted into a dormitory for parents. Although there was not enough time to construct fully fortified operating rooms, Bron-Harlev said part of the neonatal intensive care unit has been transformed into a restricted-access surgical area.

‘We are performing only emergency surgeries,’ she said. ‘We have created two provisional but fortified operating rooms that will function until the permanent ones currently under construction are ready. Two are sufficient for now for emergency procedures. I hope we will not face a situation in which 10 children arrive from a major incident needing surgery, but even then, we could operate on them one after the other.’

At the nearby adult hospital, which is part of the same complex — Rabin Medical Center —17 people were treated as a result of the war. The hospital has moved 500 beds 60 meters underground.

Schneider Children’s Medical Center and Rabin Medical Center are two of 14 hospitals operated by Clalit Health Services, the largest healthcare organization in Israel, providing day-to-day primary care, specialty care, and hospital care to over 5 million Israelis.

During the 12-day war, Prof. Ran Balicer, Deputy Director General and Chief of Innovation at Clalit Health Services, told Fox News Digital that a missile targeted Soroka Hospital in Beersheba and hit a building that had fortunately been evacuated the day before.

‘We’ve learned a lesson about the importance of preparing for attacks of Iranians targeting civilians in general and hospitals in particular,’ he said.

In the 24 hours following the start of the war, all patients not in safe areas were moved underground, where staff can focus on care despite the threats. The parking lot, Balicer explained, is more condensed than a normal ward.

‘There are challenges from congestion to infection control and privacy, there are no windows, all of the noise and the pressure is in, it’s a mental and physical strain on the staff, but they are here to do what they vowed to do,’ he said.

The area includes stockpiles of food, oxygen, and medical supplies. The hospital also focuses on virtual care and digital health to provide effective care without requiring patients to come in.

War-associated wounds, Balicer said, include limb injuries and other severe trauma. ‘Our rate of mortality on the frontlines is the lowest compared to anywhere else in the world. As such we have to really be effective in rehabilitation work,’ he said.

The line between the frontlines and the homefront in terms of injuries is no longer clear-cut.

‘They target civilians like they are on the frontlines, they aim deliberately to strike and hurt civilians with weapons that aim to inflict mass-casualty events,’ he said.

Israeli hospitals are also being secured by IDF soldiers deployed to assist with moving patients during missile alerts, if necessary, and to coordinate the arrival of casualties.

Major S., head of operations in the IDF’s search and rescue unit, told Fox News Digital that the forces are preparing for a prolonged campaign.

‘The last operation lasted only 12 days, and it was very significant for our unit, but this time is different,’ she said.

‘Our mindset is that this will not end until it is over for good. As the war continues, we are facing attacks from additional fronts, including Hezbollah in Lebanon and potentially the Houthis in Yemen. We are ready for every scenario,’ she added.

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US surges forces to Middle East as Pentagon warns Iran fight ‘will take some time’

March 2, 2026

More U.S. forces are headed to the Middle East, according to chairman of the Joint Chiefs of staff Gen. Dan Caine, as the U.S. escalates its campaign against Iran.

‘The flow of forces continues today. In fact, Admiral Cooper will receive additional forces even today,’ Caine said during a Pentagon briefing Monday morning, referring to Central Command chief Adm. Brad Cooper.

Caine declined to provide troop numbers, saying, ‘I don’t want to talk specifics, because that would tip the enemy off. We have more tactical aviation flowing into theater just based on the time it took to get it out there.’

I think we’re just about where we want to be in terms of total combat capacity and total combat power for Admiral Cooper.’

Caine said the additional forces build on a monthlong repositioning of U.S. assets across the region, including carrier strike groups, advanced fighter aircraft and air defense systems, as the U.S. prosecutes what officials described as ‘major combat operations’ that have already resulted in the death of 555 Iranians, according to an Associated Press count, as of Monday morning.

Caine said the U.S. mission in Iran is to ‘prevent Iran from (the) ability to project power outside its borders.’

‘This is not a so-called regime change war, but the regime sure did change and the world is better off for it today,’ added War Secretary Pete Hegseth.

Hegseth said the mission was to destroy Iranian missiles and missile production, destroy its navy and ensure it has no capability to pursue a nuclear weapon.

The general warned the operation ‘will take some time’ and acknowledged, ‘We expect to take additional losses.’ Four U.S. service members have been killed in the operation that began in the early hours of Saturday Eastern Time.

Hegseth said the service members were struck by an Iranian missile that penetrated air defenses at a tactical command center.

Asked whether there are American boots on the ground in Iran, Hegseth replied, ‘no,’ but said the administration would not telegraph future options.

It’s ‘one of the fallacies’ that ‘this department or presidents or others should tell the American people — and our enemies, by the way — ‘here’s exactly what we’ll do,” Hegseth said. ‘It’s foolishness.’

At the start of the operation known as Epic Fury, Caine said more than 100 aircraft launched from land and sea in a synchronized wave, including fighters, tankers, electronic attack aircraft, bombers and unmanned platforms. U.S. cyber and space forces first conducted non-kinetic operations designed to disrupt and degrade Iran’s ability to communicate and respond, he said.

Tomahawk missiles fired from U.S. Navy vessels struck Iranian naval forces along the southern flank, while coordinated precision strikes targeted command and control infrastructure, ballistic missile sites and intelligence facilities.

Caine said the opening phase struck more than 1,000 targets in the first 24 hours. American B-2 bombers flew 37-hour round-trip missions from the continental United States to hit underground facilities with penetrating munitions, he added.

‘We are now roughly 57 hours into the operation,’ Caine said Monday, adding that U.S. forces have launched hundreds of missions and delivered tens of thousands of pieces of ordnance as the campaign continues to scale.

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Trump says US mission in Iran is ‘ahead of schedule,’ vows to ‘easily prevail’ over regime

March 2, 2026

President Donald Trump on Monday declared that the joint U.S.-Israeli operation to ‘crush the threat’ in Iran is ‘ahead of schedule.’

Trump provided an update on ‘Operation Epic Fury’ during a Medal of Honor ceremony at the White House, vowing that the U.S. will ‘easily prevail’ over the ‘terrorist regime.’

‘We have the strongest and most powerful, by far, military in the world, and we will easily prevail. We’re already substantially ahead of our time projections, but whatever the time is, it’s okay. Whatever it takes.’

The U.S. and Israel launched Operation Epic Fury on Saturday morning, a joint military campaign that officials say targeted Iranian leadership and key military installations.

Trump said that the operation is projected to last four to five weeks, noting that ‘we have capability to go far longer than that.’

‘We also projected four weeks to terminate the military leadership,’ Trump added. ‘And as you know, that was done in about an hour. So we’re ahead of schedule there by a lot.’

Iran’s Supreme Leader Ayatollah Ali Khamenei was among five to 10 top leaders killed after an Israeli strike in Tehran as part of the joint operation, a U.S. senior official previously confirmed to Fox News. Iran’s state media also confirmed that Khamenei and several senior leaders were killed in the strikes.

Earlier Monday, War Secretary Pete Hegseth outlined what he described as a ‘clear’ three-part mission against Iran, insisting the conflict ‘is not endless’ and sharply rejecting comparisons to past U.S. wars in the Middle East.

‘We set the terms of this war from start to finish. Our ambitions are not utopian. They are realistic, scoped to our interests and the defense of our people and our allies,’ he told reporters at the Pentagon.

Officials tell Fox News that Israel is focusing on Iranian leadership targets, while the United States is targeting military sites and ballistic missile infrastructure it says pose an ‘imminent threat.’

Fox News Digital’s Ashley Carnahan and Max Bacall contributed to this report.

This is a developing news story; check back for updates.

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Trump says US sank 10 ships in Iran strike, ‘last, best chance’ to act

March 2, 2026

President Donald Trump Monday said the United States and Israel’s joint military operation against Iran was ‘our last, best chance to strike’ to ‘eliminate the intolerable threats’ posed by Tehran.

The United States and Israel launched the operation against Iran Saturday known as ‘Operation Epic Fury.’

The attacks left major Iranian leaders dead, including its supreme leader, Ayatollah Ali Khamenei.

The operation is expected to carry on for days, as the U.S. military continues to target military targets and ballistic missile sites that pose an ‘imminent threat.’

Trump warned against Iran retaliation, saying that if Iran were to ‘hit very hard,’ it would be met with ‘a force that has never been seen before.’

During a Medal of Honor ceremony at the White House Monday, the president touted his success in combating the threats posed by Iran —during both his second administration, and his first.

‘I was very proud to have knocked out the Iran nuclear deal by President Barack Hussein Obama,’ Trump said. ‘That was a horrible, horrible, dangerous document. They would have had nuclear weapons three years ago.’

The president said that Iran, ‘for almost 47 years’ has been ‘attacking the United States and killing Americans.’

‘Every time you see someone with missing arms and legs or a face that’s been absolutely shattered violently — it was almost certainly caused by an Iran roadside bomb,’ Trump said. ‘They were put there by General Soleimani, who was the father of the roadside bomb … But I terminated him in my first term.’

Trump was referring to Iranian Gen. Qassem Soleimani. Trump ordered the January 2020 strike that killed Soleimani at Baghdad International Airport

Soleimani was responsible for the deaths of hundreds of American and coalition service members and the wounding of thousands more, according to the State Department.

Soleimani was the long-running leader of the elite intelligence wing called Quds Force — which itself has been a designated terror group since 2007 and is estimated to be 20,000 strong. Considered one of the most powerful men in Iran, he routinely was referred to as its ‘shadow commander’ or ‘spymaster.’

‘This was our last, best chance to strike what we’re doing right now and eliminate the intolerable threats posed by this sick and sinister regime,’ the president said Monday. ‘And they are indeed sick and sinister.’

Trump declared that the United States’ ‘objectives are clear.’

‘First, we’re destroying Iran’s missile capabilities, and you see that happening on an hourly basis and their capacity to produce brand new ones and pretty good ones they make,’ the president said. ‘Second, we’re annihilating their Navy. We’ve knocked out already ten ships. They’re at the bottom of the sea.’

‘Third, we’re ensuring that the world’s number one sponsor of terror can never obtain a nuclear weapon,’ he said. ‘They are never going to have a nuclear weapon. I said that from the beginning. They’re never going to have a nuclear weapon. They were on the road to getting one legitimately through a deal that was signed foolishly by our country.’

Finally, the president said, the United States is ‘ensuring that the Iranian regime cannot continue to arm, fund and direct terrorist armies outside of their borders.’

‘And we thought we had a deal, but then they backed out and and they came back and we thought we had a deal and they backed out,’ Trump said. ‘I said, you can’t deal with these people. You got to do it the right way.’

The Pentagon confirmed that the United States deployed B-2 stealth bombers armed with 2,000-pound bombs as part of the Operation Epic Fury campaign.

The U.S. will continue the operation with ‘ferocious, unyielding resolve,’ Trump said, adding that the U.S. has already sunk 10 of Iran’s naval vessels in addition to eliminating 49 of its top leaders.

The president Monday also honored the lives of four ‘heroic’ American service members.

‘Today we grieve for the four heroic American service members who have been killed in action and send our love and support to their families,’ the president said. ‘In their memory, we continue this mission with ferocious, unyielding resolve to crush the threat this terrorist regime poses to the American people and a threat, indeed it is.’

The president said the United States has ‘the strongest and most powerful by far military in the world, and we will easily prevail.’

‘We’re already substantially ahead of our time projections, but whatever the time is, it’s okay. Whatever it takes, we will always, and we have, right from the beginning, we projected 4 to 5 weeks, but we have capability to go far longer than that,’ Trump continued. ‘We’ll do it.’

He added: ‘Please join me in thanking every American service member who bravely is standing in harm’s way. They really are incredible.’

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Angkor Resources Announces Stock Option Grant

March 2, 2026

(TheNewswire)

GRANDE PRAIRIE, ALBERTA TheNewswire – March 2, 2026 – Angkor Resources Corp. (TSXV: ANK,OTC:ANKOF) (‘ANGKOR’ OR ‘THE COMPANY’) wishes to announce that it has granted, effective today, an aggregate of 4,275,000 stock options (each an ‘Option) to certain Directors, management and consultants of the Company in accordance with the Company’s Rolling Stock Option Plan.

Each Option is exercisable into one common share in the capital of the Company (each a ‘Share’) at a price of $0.36 per Share, being the price of the Company’s shares on the last closing price on the TSX Venture Exchange on February 27, 2026. The options granted to Directors and administrative consultants are exercisable for a three-year term expiring March 2, 2029 and will vest immediately. The remaining options issued to management will vest immediately and expire in 12 months, March 2, 2027.

ABOUT Angkor Resources CORPORATION:

Angkor Resources Corp. is a public company, listed on the TSX-Venture Exchange, and is a leading resource optimizer in Cambodia working towards mineral and energy solutions across Cambodia.

The company’s mineral subsidiary, Angkor Gold Corp. in Cambodia holds two mineral exploration licenses in Cambodia with multiple prospects in copper and gold. Both licenses are in their first two-year renewal term.

Its Cambodian energy subsidiary, EnerCam Resources, was granted an onshore oil and gas license of 7300 square kilometres in the southwest quadrant of Cambodia called Block VIII. The company then removed all parks and protected areas and added 220 square kilometres, making the license area just over 4095 square kilometres. EnerCam is actively advancing oil and gas exploration activities onshore to meet its mission to prove Cambodia as an oil and gas producing Nation. Having completed seismic in 2025, the Company has identified multiple drill targets and advances an Environmental Impact Assessment and drilling plans to drill Cambodia’s first onshore oil & gas exploratory wells.

CONTACT: Delayne Weeks – CEO

Email:- info@angkorresources.com Website: angkorresources.com

Telephone: +1 (780) 831-8722

Please follow @AngkorResources on , , , Instagram and .

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

_____________________________________

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NextSource Materials Announces CFO Transition

March 2, 2026

TORONTO, ON / ACCESS Newswire / March 2, 2026 / NextSource Materials Inc. (TSX:NEXT,OTC:NSRCF)(OTCQB:NSRCF) (‘NextSource’ or the ‘Company’) announces that Mr. Jaco Crouse has resigned from his position as Chief Financial Officer after accepting a senior role with another organization. Mr. Crouse will remain employed by the Company for a transition period of up to four months to support an orderly handover of responsibilities.

Mr. Crouse has served as Chief Financial Officer since 2024, during which time he played a key role in strengthening the Company’s financial discipline, supporting capital markets activities, and advancing NextSource’s development strategy. The Company thanks Mr. Crouse for his contributions and wishes him success in his new role.

The Company is working with Mr. Crouse to ensure an orderly and comprehensive handover of responsibilities. As part of a structured succession planning approach, the Board will coordinate with external advisors to progress the search for a new Chief Financial Officer. Interim arrangements will be communicated as appropriate.

Hanré Rossouw, President and CEO of NextSource, commented:

‘On behalf of the Board and management team, I would like to thank Jaco for his contribution and commitment during a critical period of growth and transformation for NextSource. We appreciate his support in ensuring a smooth transition and wish him every success in his next chapter.’

The Company remains focused on executing its strategic priorities, including advancing its Battery Anode Facility development, progressing toward Final Investment Decision, and delivering on its integrated battery materials strategy.

About NextSource Materials Inc.

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

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

The Company is also developing a significant downstream graphite value-add business through the staged rollout of Battery Anode Facilities (BAF) capable of large-scale production of coated, spheronized and purified graphite for direct delivery to battery and automotive customers, in a fully transparent and traceable manner. The Company is now in the process of developing its first BAF in the UAE and has executed a multi-year offtake agreement for the supply of anode active material with Mitsubishi Chemical Corp of Japan.

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

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

Safe Harbour: This press release contains statements that may constitute ‘forward-looking information’ or ‘forward-looking statements’ within the meaning of applicable Canadian and United States securities legislation. Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward looking statements and information are frequently characterized by words such as ‘plan’, ‘expect’, ‘project’, ‘intend’, ‘believe’, ‘anticipate’, ‘estimate’, ‘potential’, ‘possible’ and other similar words, or statements that certain events or conditions ‘may’, ‘will’, ‘could’, ‘expected’ or ‘should’ occur. Forward-looking statements include any statements regarding, among others, that non-binding LOI’s and term sheets will progress to definitive agreements and the timing thereof, timing of construction, development and completion of the BAF, timing and completion of front-end engineering and design, timing of FID, the phased development plan of the BAF as well as the Company’s intent on becoming a fully integrated global supplier of critical battery and technology materials. These statements are based on current expectations, estimates and assumptions that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by the Company and described in the forward-looking statements contained in this press release. These risks include that the non-binding term sheets will not progress to definitive agreements, the parties to the non-binding term sheet will not be satisfied with their due diligence review, risks related to the construction and development of the BAF, the potential supply of natural graphite fines for NextSource’s planned BAF from Syrah or other qualified 3rd party sources, the risk that a positive FID decision may never be reached as well as other risk factors set forth in the Company’s latest Annual Information Form (which includes the disclosed risk related specifically to the development commissioning and operation of the BAF) There is no assurance that the definitive agreements will be completed with the above noted timeframe or at all. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do so, what benefits the Company will derive there from. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether because of new information, future events or otherwise, except as may be required by applicable securities laws. Although the forward-looking statements contained in this news release are based on what management believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with them. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.

SOURCE: NextSource Materials Inc.

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NextSource Materials Signs Agreement for the Supply of Graphite Fines as Additional Source of Feedstock for its Battery Anode Facility in Abu Dhabi

March 2, 2026

TORONTO, ON / ACCESS Newswire / March 2, 2026 / NextSource Materials Inc. (TSX:NEXT,OTC:NSRCF)(OTCQB:NSRCF) (‘NextSource’ or the ‘Company’) announces that it has entered into a binding agreement (the ‘Agreement’) with Syrah Resources Limited (‘Syrah’) for the supply of natural graphite fines for NextSource’s planned battery anode facility (‘BAF’) in Abu Dhabi, United Arab Emirates (‘UAE’).

Under the terms of the Agreement, NextSource will source a minimum of approximately 34,000 tonnes and up to 68,000 tonnes of natural graphite fines in total over a seven-year period, with annual committed and optioned volumes subject to specific conditions precedent being satisfied.

These conditions include the commencement of commercial production at NextSource’s BAF in the UAE and successful qualification and final approval of the use of Syrah’s graphite by NextSource and it’s downstream offtake customer. Pricing is expected to be determined quarterly and by referencing an independently reported natural graphite fines price index, with adjustments for product grade and shipping costs.

If the conditions have not been satisfied or waived by December 31, 2026, Syrah may terminate the Agreement without liability. If the conditions have not been satisfied or waived by December 31, 2027, NextSource may terminate the Agreement without liability.

Strategic Rationale

This Agreement forms part of NextSource’s broader supply chain strategy to establish diversified feedstock sources for its planned downstream anode facilities. The Company believes this approach, taking into account feedstock from its Molo Graphite Mine in Madagascar (‘Molo’), both derisks operations and enhances operational flexibility to support the ramp-up and potential expansion of the UAE BAF.

The Company has been stockpiling SuperFlake® concentrate from Molo and has ample inventory to fulfil the volumes of anode active material (‘AAM’) required under its binding offtake with Mitsubishi Chemical well into 2028. The Mitsubishi Chemical offtake agreement is for the supply of approximately 9,000 tonnes per annum (‘tpa’) of AAM over a multi-year period.

NextSource continues to evaluate other third-party feedstock sources while prioritizing the use of SuperFlake® graphite concentrate from Molo as the primary and preferred feedstock source for the UAE BAF.

This additional feedstock flexibility is particularly important in light of the Company’s February 5, 2026 announcement of a letter of intent with a second major Japanese anode material producer. If finalized, this would further increase expected demand for AAM from the UAE BAF. When combined with the Mitsubishi Chemical offtake agreement, these customer commitments are expected to fully utilize and potentially exceed the planned Phase 1 production capacity of the UAE BAF, reinforcing the importance of establishing multiple qualified feedstock sources to underpin future expansion of the UAE BAF.

Hanré Rossouw, President and CEO of NextSource, commented:

‘This agreement strengthens our long‑term strategy to build a resilient and diversified supply chain for our Abu Dhabi BAF. While Molo remains our primary and preferred feedstock, securing optionality with high‑quality third‑party material enhances our flexibility as we scale production to meet growing demand for anode active material. It is a disciplined step that supports both our near‑term ramp‑up and our broader growth ambitions.’

Syrah Resources is an Australian Securities Exchange listed industrial minerals and technology company that owns and operates the Balama Graphite Operation in Mozambique and an active anode material facility in the United States.

About NextSource Materials Inc.

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

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

The Company is also developing a significant downstream graphite value-add business through the staged rollout of Battery Anode Facilities (BAF) capable of large-scale production of coated, spheronized and purified graphite for direct delivery to battery and automotive customers, in a fully transparent and traceable manner. The Company is now in the process of developing its first BAF in the UAE and has executed a multi-year offtake agreement for the supply of anode active material with Mitsubishi Chemical Corp of Japan.

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

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

Safe Harbour: This press release contains statements that may constitute ‘forward-looking information’ or ‘forward-looking statements’ within the meaning of applicable Canadian and United States securities legislation. Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward looking statements and information are frequently characterized by words such as ‘plan’, ‘expect’, ‘project’, ‘intend’, ‘believe’, ‘anticipate’, ‘estimate’, ‘potential’, ‘possible’ and other similar words, or statements that certain events or conditions ‘may’, ‘will’, ‘could’, ‘expected’ or ‘should’ occur. Forward-looking statements include any statements regarding, among others, that non-binding LOI’s and term sheets will progress to definitive agreements and the timing thereof, timing of construction, development and completion of the BAF, timing and completion of front-end engineering and design, timing of FID, the phased development plan of the BAF as well as the Company’s intent on becoming a fully integrated global supplier of critical battery and technology materials. These statements are based on current expectations, estimates and assumptions that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by the Company and described in the forward-looking statements contained in this press release. These risks include that the non-binding term sheets will not progress to definitive agreements, the parties to the non-binding term sheet will not be satisfied with their due diligence review, risks related to the construction and development of the BAF, the potential supply of natural graphite fines for NextSource’s planned BAF from Syrah or other qualified 3rd party sources, the risk that a positive FID decision may never be reached as well as other risk factors set forth in the Company’s latest Annual Information Form (which includes the disclosed risk related specifically to the development commissioning and operation of the BAF) There is no assurance that the definitive agreements will be completed with the above noted timeframe or at all. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do so, what benefits the Company will derive there from. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether because of new information, future events or otherwise, except as may be required by applicable securities laws. Although the forward-looking statements contained in this news release are based on what management believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with them. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.

SOURCE: NextSource Materials Inc.

View the original press release on ACCESS Newswire

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Nuvau Closes Acquisition of Matagami Property from Glencore

March 2, 2026

Gains ownership and control over one of the largest, strategically located, prolific geologic environments for critical and precious metals in Quebec, Canada

Nuvau Minerals Inc. (TSXV: NMC,OTC:NMCPF) (the ‘Company’ or ‘Nuvau’) has achieved a significant milestone on the road toward a production restart at its flagship Matagami Property. The Company has completed the acquisition (the ‘Earn-In Transaction’), from Glencore Canada Corporation (‘Glencore Canada’), of interests in certain properties comprising the Matagami mining camp (collectively, the ‘Property’), located in the Abitibi region of central Québec, Canada, pursuant to a second amended and restated earn-in agreement dated January 28, 2026 among the Company, Nuvau Minerals Corp. (the Company’s wholly-owned subsidiary, ‘Nuvau Corp.’) and Glencore Canada (the ‘Earn-In Agreement’).

‘This landmark achievement marks a major step toward our goal of the restart of mining operations at the Matagami property,’ said Peter van Alphen, Nuvau’s CEO. ‘It reflects both our team’s unwavering commitment and the strong support behind our project. We are now eager to continue to build on our exploration momentum while advancing the technical and economic studies required to deliver a robust restart plan for our critical mineral assets.’

The Matagami mining camp is a 1,379-square-kilometre exploration and mining property, one of the largest in Canada, and is strategically located in a prolific geological environment for both critical and precious metals.

Figure 1: Position of Nuvau’s Matagami property in Canada and within the northern Abitibi advanced projects and operations

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11236/285928_f65c88b214607901_001full.jpg

The Matagami Property
Located in the northern Abitibi, the Matagami Property is comprised of 2,389 titles, including 1,237 square kilometres of exploration claims and 4.5 square kilometres of mining rights property. This includes the past-producing:

Bracemac-McLeod mine, which is still permitted and has key infrastructure in place
Perseverance mine, with potential for shallow remnant and mineralization extension.

When combined with Nuvau’s existing 138 square kilometres of exploration claims, this land package is one of the largest mining and exploration properties in Eastern Canada.

Figure 2: Detailed map of the exploration claims and mining rights involved in the transaction.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11236/285928_f65c88b214607901_002full.jpg

The transaction excludes the property rights related to the Matagami Lake Processing Plant and the current Tailing Storage Facility, for which Nuvau has a 24-month right such rights from Glencore Canada.

Since entering into the earn-in agreement with Glencore in 2022, Nuvau has established a track record of success on the property, including the:

Discovery of gold mineralization within the Bracemac Mine in July 2025;
Discovery of gold anomalies in till in May 2025;
Acquisition of the Thundermine property in 2024;
Extension of mineralization at the past-producing McLeod Cu-Zn deposit in 2024;
Discovery of the Renaissance Cu-Zn Volcanogenic Massive Sulfide (VMS) in 2023.

In addition, Nuvau demonstrated the economic potential of a near term production restart at the Matagami property with the Preliminary Economic Analysis (PEA) it published in 2023. The Company intends to update this PEA in 2026 to include additional geological and technical information as well as current commodity prices ahead of a Pre-Feasibility Study planned for 2027. The PEA leverages existing mine, processing and transportation infrastructure within the Matagami camp, all in close proximity to the town of Matagami at the heart of the northern Abitibi.

The Earn-In Transaction
In connection with the completion of the Earn-In Transaction:

Nuvau Corp. incurred an aggregate of $30,000,000 in exploration, development and related expenditures on the Property on or before March 25, 2025.
Glencore retained a 2% net smelter returns (‘NSR’) royalty on the Property, subject to an aggregate maximum NSR royalty of 3.5% inclusive of existing royalties on any mining claim, pursuant to a royalty agreement entered into between Glencore Canada and Nuvau Corp.

As per the terms of the Earn-In Agreement, within 60 days of the closing of the Earn-In Transaction, Nuvau Corp. will also be required to pay Glencore Canada (i) $5,000,000 in cash, and (ii) an additional $5,000,000 payable in cash, common shares of the Company (‘Common Shares‘), or a combination thereof at Nuvau Corp.’s election, subject to required stock exchange and other regulatory approvals and provided that any share issuance does not result in Glencore having beneficial ownership of more than 9.9% of the Company’s issued and outstanding Common Shares immediately following issuance.

For a period of 24 months following the closing of the Earn-In Transaction, Nuvau will also retain the right to acquire certain excluded property (including the Matagami Lake Processing Plant and Tailings Storage Facility) from Glencore Canada for a payment of $5,000,000 (payable in cash, Common Shares, or a combination thereof), subject to the satisfaction of certain conditions and regulatory requirements, all as more particularly described in the Earn-In Agreement.

For more information regarding the Earn-In Transaction, please refer to the Earn-In Agreement, a copy of which has been filed and is available on SEDAR+ (www.sedarplus.ca) under the Company’s issuer profile.

About Nuvau
Nuvau Minerals (TSXV: NMC,OTC:NMCPF) is a Canadian mining and exploration company advancing its assets through the exploration and development stage. The Company’s principal asset is the past-producing Matagami mining district in the Abitibi region of Québec.

Nuvau controls a 1,379 square kilometre land package and benefits from access to permitted mining infrastructure, including an option on a 3,000 tpd concentrator, through an earn-in agreement with Glencore Canada. Its strategy combines near-term resource development and a potential mine restart with district-scale exploration targeting zinc-copper VMS deposits and newly recognized gold potential in the camp.

Backed by Québec investors, Nuvau is executing a multi-year exploration and resource growth program to advance the camp toward a renewed production decision while generating new discoveries.

Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Bastien Fresia P. Geo. (Qc), Director of Technical Services and a ‘qualified person’ for the purposes of National Instrument 43-101.

Further Information
Peter van Alphen
President and CEO, Nuvau Minerals Inc.
416-525-6063
pvanalphen@nuvauminerals.com

Cautionary Statements
This news release contains forward-looking statements and forward-looking information (collectively, ‘forward-looking statements‘) within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as ‘may’, ‘should’, ‘anticipate’, ‘will’, ‘estimates’, ‘believes’, ‘intends’, ‘expects’ and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this news release contains forward-looking statements concerning: the completion and timing of any remaining post-closing filings and registrations with governmental authorities; the timing and form of payments contemplated by the Earn-In Agreement (including any election to satisfy a portion of such payments in Common Shares), and if applicable, the receipt of any required stock exchange and other regulatory approvals; the potential future acquisition of the excluded property and satisfaction of applicable conditions related thereto; and the timing and ability of the Company to advance the Property to production decision and the overall potential of the Property. Forward-looking statements are not a guarantee of future performance and are 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. Readers are cautioned that assumptions used in the preparation of any forward-looking statements 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. Factors that could cause actual results to differ materially from such forward-looking statements are set out in the Company’s public disclosure record available on SEDAR+ (www.sedarplus.ca) under the Company’s issuer profile. Readers are further cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by the management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

The forward-looking statements contained in this news release are made as of the date of this news release, and are expressly qualified by the foregoing cautionary statement. Except as expressly required by securities law, the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise.

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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/285928

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Rakuten Launches New Japanese Platinum Investment Fund

March 2, 2026

Rakuten Securities has launched a new platinum-focused investment trust, expanding access to precious metals exposure in Japan at a time of rising global interest in commodities.

The Rakuten Platinum Fund broadens the range of investment options available to Japanese retail investors by offering indirect exposure to platinum through a fund-of-funds structure.

Rather than holding physical platinum, the fund invests via a master fund that allocates to physical platinum-backed exchange traded funds (ETFs).

The fund operates without foreign exchange hedging as a default, meaning investors are exposed to yen-denominated movements in global platinum prices.

Structured as an additional type investment trust, the fund also has no fixed investment term and allows daily subscriptions and redemptions. It has a trust capital ceiling of approximately US$641 million, with a minimum threshold of 1 billion yen.

A key feature expected to drive retail demand is its eligibility for inclusion in a Nippon Individual Savings Account (NISA). Modelled on the UK’s Individual Savings Account (ISA), the scheme allows qualifying investors to receive tax exemptions on dividends and capital gains for an unlimited period, subject to investment limits.

This positions the new fund as a tax-efficient vehicle for individuals seeking exposure to platinum within a long-term savings framework.

The launch aims to capitalize on growing investor interest in platinum globally. A recent World Platinum Investment Council (WPIC) report saw holdings in platinum ETFs increase by a net 234,000 ounces in 2025, driven by positive sentiment following a platinum price breakout and its sustained discount to gold.

Platinum’s price momentum has been notable. The metal surged more than 90 percent from the second quarter onward in 2025, climbing above US$1,900 per ounce in December. After silver, it was the second best-performing metal of the year.

Structural supply challenges, including a projected supply shortfall of more than 692,000 ounces, were a key driver of the rally, alongside strong industrial demand from the automotive sector and emerging clean energy technologies. Lower interest rates from the US Federal Reserve also boosted investment appetite for precious metals.

Even as total platinum demand is projected to fall 5 percent to 7.82 million ounces in 2025, investment demand is expected to rise 6 percent to 742,000 ounces, according to the WPIC.

Investors have been drawn to platinum as a relative value play amid record gold prices, fueling inflows into ETFs as well as purchases of physical bars and coins.

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

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