ULSA, OKLAHOMA, July 2, 2026 — Alliance Resource Partners, L.P. (NASDAQ: ARLP) (“ARLP”) today announced that it has completed its previously announced acquisition of certain general partner and limited partner interests in AllDale Minerals III, LP and AllDale Minerals IV, LP for approximately $206.2 million, subject to customary post-closing adjustments.
ARLP funded the acquisition using a combination of cash on hand, borrowings under its revolving credit facility, and a new $150.0 million term loan at its wholly owned subsidiary Alliance Minerals, LLC.
Following the acquisition, ARLP now controls approximately 115,680 net royalty acres within its Oil & Gas Royalties segment, including over 44,770 net royalty acres in the Permian Basin. ARLP expects to provide additional commentary regarding the acquisition during its next quarterly earnings conference call.
About Alliance Resource Partners, L.P. ARLP is a diversified natural resource company that is currently the second largest coal producer in the eastern United States, supplying reliable, affordable energy domestically and internationally to major utilities, metallurgical and industrial users. ARLP also generates operating and royalty income from mineral interests it owns in strategic coal and oil & gas producing regions in the United States. In addition, ARLP is positioning itself as a reliable energy partner for the future by pursuing opportunities that support the growth and development of energy-related technologies and infrastructure.
News, unit prices and additional information about ARLP, including filings with the Securities and Exchange Commission (“SEC”), are available at www.arlp.com. For more information, contact the investor relations department of ARLP at (918) 295-7673 or via email at [email protected].
Investor Relations Contact Cary P. Marshall Senior Vice President and Chief Financial Officer 918-295-7673 [email protected]
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
2026 Drill Program. Resolution continues to de-risk its flagship Horse Heaven Antimony-Tungsten-Gold-Silver Project in Idaho. The company has completed 16 diamond drill holes totaling 4,470 meters at the Golden Gate South target, maintaining a rapid drilling rate while keeping geological logging and sample preparation current. With approximately one-third of the drilling campaign complete, Resolution is advancing Golden Gate toward its first mineral resource estimate, which is expected during the first quarter of 2027. Successful drilling could substantially de-risk the project and establish the foundation for future economic studies.
Defining Scale and Continuity. The program is designed to define the scale and continuity of gold mineralization along strike and at depth while also evaluating the extent of tungsten mineralization surrounding the historic Golden Gate Tungsten Mine and a large tungsten soil anomaly. The campaign builds on encouraging 2025 drilling results that intersected broad intervals of gold mineralization.
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Toronto, Ontario–(Newsfile Corp. – June 30, 2026) – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) (“Aurania” or the “Company”) announces that its Board of Directors granted 3,260,000 stock options to directors, officers, and employees (the “Optionees”) pursuant to the terms and subject to the conditions of the Company’s Incentive Stock Option Plan.
The 3,260,000 stock options were granted to directors, officers, and employees on June 30, 2026, and have an exercise price of C$0.185. These options are exercisable for five years from the date of grant and the options shall vest in thirds on the date of grant and each of the first and second anniversaries of the dates of grant, always subject to the Optionee’s maintenance of continuous status as an employee, director, or officer of the Company.
In addition to the options noted above, certain Directors of the Company agreed to receive their quarterly director fees for the second quarter of 2026 in the form of stock options in lieu of cash. On June 30th, 2026, an aggregate of 94,500 stock options was granted to directors in lieu of their director fees for the second financial quarter of 2026. All such stock options will be exercisable at a price of C$0.185 for a period of three years from the date of grant and vested immediately upon grant. In the event a director intends to exercise such stock options, such director shall be solely responsible for paying the entirety of the exercise price.
About Aurania Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition, and exploration of mineral property interests, with a focus on precious metals and critical energy in Europe and abroad.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
VANCOUVER, BC, April 28, 2026 – Nicola Mining Inc.(NASDAQ: NICM) (TSXV: NIM) (FSE: HLIA) (the “Company” or “Nicola“) is pleased to announce commencement of the 2026 Exploration Diamond Drilling Program (the “2026 Program“) at its New Craigmont Copper Project (“New Craigmont”), near Merritt, BC.
Exploration Target
In 2022, Nicola Mining Inc. completed a property-wide Z-axis Tipper Electromagnetic (ZTEM) survey conducted by Geotech Ltd. Interpretation of the dataset identified a prominent resistivity anomaly located immediately north of the historical Craigmont open pit (Figure 1). Subsequent drilling completed in 2023 (holes NC23-005 and NC23-006), positioned to the south of this anomaly, intersected encouraging porphyry-style alteration assemblages, supporting the potential for a larger mineralized system at depth. Nicola has designated this geophysical feature as the “Jotun” target (pronounced Yoten).
The Company considers the Jotun target to be a compelling exploration opportunity that may represent the causative intrusive source responsible for the high-grade copper skarn historically mined at Craigmont. Nicola’s 2026 plans include drilling an exploration hole to directly test the ZTEM anomaly and evaluate its potential as a core of a porphyry-skarn system; however, it should be noted that New Craigmont has the potential of hosting multiple porphyries, as highlighted by the adjacent Highland Valley Copper.
Figure 1. Location Map of the Planned Drill Hole and Geological Setting
Diamond Drilling Plans
Exploration plans for the 2026 Program include diamond drilling at the Jotun target area, a previously untested zone within the New Craigmont Project. The Company will be working with Dorado Drilling Ltd. to execute the program.
The planned drill hole is designed to test the interpreted ZTEM resistivity anomaly at depth, with the target zone expected to be intersected at approximately 775 metres downhole, based on the current geological model and assuming a drill orientation of approximately 80 degrees dip and the planned azimuth. This hole is intended to evaluate the potential presence of a causative intrusive body associated with the historical Craigmont copper skarn system.
Drilling at the Jotun target will open a new exploration area at New Craigmont and is expected to provide valuable geological information to support ongoing target development, including improved understanding of alteration assemblages, structural controls, lithological contacts, and mineralization, which are critical components in advancing exploration of a potential porphyry copper system at New Craigmont.
Figure 2. Cross section (and plan view) of the Jotun target: untested ZTEM resistivity high.
The estimated budget for the 2026 Program is $1.5M, which includes a geophysical survey and a soil sampling campaign. Nicola anticipates drilling to conclude in early June before commencing another diamond drilling program at its Treasure Mountain silver project.
Soil sampling will be conducted in the northwestern portion of the property to support target generation in underexplored areas. In addition, the Company plans to complete a comprehensive Mobile Magnetotelluric (Mobile MT) survey to further refine deep geophysical targets across the property. Details of these programs will be shared as the field season advances.
The Company also expects to have its thermal vectoring dataset fully processed during the season, which will support further interpretation of hydrothermal alteration patterns and help guide decisions on whether to continue expanding this work with additional data collection in the following year.
The Company expects to provide additional updates on exploration activities and results as the field season progresses.
Qualified Person The scientific and technical disclosure included in this news release have been reviewed and approved by Will Whitty, P.Geo., who is the Qualified Person as defined by NI 43-101. Mr. Whitty is Vice President, Exploration for the Company.
About Nicola Mining Nicola Mining Inc. is a junior mining company listed on the TSX-V Exchange and Frankfurt Exchange that maintains a 100% owned mill and tailings facility, located near Merritt, British Columbia. It has signed Mining and Milling Profit Share Agreements with high-grade BC-based gold projects. Nicola’s fully permitted mill can process both gold and silver mill feed via gravity and flotation processes.
The Company owns 100% of the New Craigmont Project, a property that hosts historic high-grade copper mineralization and covers an area of over 10,800 hectares along the southern end of the Guichon Batholith and is adjacent to Highland Valley Copper, Canada’s largest copper mine. The Company also owns 100% of the Treasure Mountain Property, which includes 30 mineral claims and a mineral lease, spanning an area exceeding 2,200 hectares.
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.
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Private Placement Financing. Aurania Resources closed the second and final tranche of its non-brokered private placement, raising C$578,370.96 through the sale of 3,213,172 units at a price of C$0.18 per unit. Combined with the first tranche, the financing generated gross proceeds of C$1,256,634.72 through the issuance of 6,981,304 units at a price of C$0.18 per unit. Each unit is composed of one common share and one warrant exercisable at C$0.35 per share for a period of 24 months following the date of issuance.
Use of Funds. Net proceeds from the financing will be used for exploration at the Thor’s Valley epithermal gold project in Iceland, the Balangero nickel-cobalt tailings retreatment project in Italy, and for general working capital. Following the financing, we estimate the company has 139,236,609 shares outstanding.
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
George Proost, Research Associate, Noble Capital Markets, Inc.
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Initiating coverage. We are initiating coverage of Tectonic Metals Inc. with an Outperform rating and price target of US$3.50 (C$4.85) per share. In our view, Tectonic’s Flat Gold Project, located in the prolific Kuskokwim Mineral Belt in Alaska, offers the potential to become a Tier 1 gold mine which are generally defined as those producing at least 500 thousand gold ounces per year, exhibit a mine life of 10+ years, with costs in the lower half of the global industry cost curve. Based on drilling results to date, we estimate a potential mineral endowment of at least 5.3 million gold ounces with significant growth prospects. Tectonic expects to publish an initial resource estimate in the first quarter of 2027.
Exploration and drilling program yields significant discoveries. Drilling at the Flat Gold Project continues to demonstrate scale, with mineralization at the Chicken Mountain target now defined over approximately 3.3 kilometers of strike length, widths of up to 700 meters, and depths exceeding 300 meters while remaining open in all directions. All 191 holes drilled at Chicken Mountain have intersected gold mineralization, with 117 of 191 holes ending in mineralization.
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Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
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Recent drilling results. Power Metallic Mines reported additional assay results from its Winter 2026 drilling program at the Lion Zone, with the results expected to support the company’s initial NI 43-101 Mineral Resource Estimate (MRE), which is scheduled for completion by the end of July. The MRE for both the Lion Zone and the Nisk deposit will provide the foundation for a Preliminary Economic Assessment (PEA) that is expected to begin immediately afterward.
Strong near-surface copper grades. The latest drilling focused on infill holes designed to improve confidence in resource modeling along the western side of the Lion Zone, particularly within a potential future open-pit area. Results continue to demonstrate strong near-surface mineralization, highlighted by Hole PML-26-115, which returned 13.3 meters grading 3.98% copper equivalent (CuEq) beginning just 25 meters below surface, including a higher-grade interval of 3.77 meters grading 9.36% CuEq. Hole PML-26-105 also delivered a strong intercept of 5.26 meters grading 8.45% CuEq at a depth of approximately 140 meters. Both will be included in the upcoming MRE.
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In one of the most strategically significant critical minerals deals of the year, Energy Fuels (NYSE American: UUUU) (TSX: EFR) announced Tuesday it has entered into a definitive agreement to acquire Vacuumschmelze GmbH & Co. KG and its affiliated entities — collectively known as VAC — from private equity firm Ara Partners in a cash-and-stock transaction valued at approximately $1.9 billion. The deal is designed to create a fully integrated rare earth supply chain spanning everything from mining through finished permanent magnet manufacturing, reducing Western dependence on China for materials that are essential to defense, automotive, robotics, and data center applications.
The transaction values VAC at $1.9 billion based on Energy Fuels’ closing share price of $16.12 on June 22, and is structured as $718 million in cash plus 65.853 million newly issued Energy Fuels shares. Energy Fuels will also assume approximately $140 million of VAC’s adjusted net debt. Energy Fuels shares slipped roughly 2% in premarket trading following the announcement, a common reaction when an acquirer issues significant new equity to fund a large deal.
What Energy Fuels Is Acquiring
VAC is not an early-stage company. Headquartered in Hanau, Germany, the business brings more than 100 years of advanced magnetics expertise, over 400 patents, more than 1,000 customers, and manufacturing operations across North America, Europe, and Asia. Its most strategically important asset is a recently commissioned permanent magnet facility in Sumter, South Carolina, which currently has capacity for 2,000 tonnes per year of rare earth permanent magnets and is scalable to 12,000 tonnes per year.
Permanent magnets are the critical end product in the rare earth value chain. They are essential components in electric vehicle motors, wind turbines, defense systems, robotics, and the cooling and power infrastructure inside AI data centers. The overwhelming majority of global permanent magnet production currently takes place in China, which has made supply chain security in this category a top priority for the United States and its allies.
The Mine-to-Magnet Strategy
The strategic logic behind the deal is vertical integration across the entire rare earth value chain. Energy Fuels brings the upstream capabilities — mining, processing, and refining — anchored by its White Mesa Mill in Utah, the only conventional uranium and rare earth processing facility of its kind in the United States. VAC contributes the downstream capabilities of metals and alloy production and finished magnet manufacturing.
Combining the two creates what the company describes as a fully integrated mine-to-magnet platform. Under the plan, rare earth oxides produced at the White Mesa Mill would be converted into metals and alloys at facilities in Korea and the United States, then manufactured into finished permanent magnets at VAC’s Sumter facility and its European operations. The Sumter site is also expected to be fed by rare earth oxides from Energy Fuels’ Donald Project in Australia, which is anticipated to reach a final investment decision in the third quarter of 2026 and be commissioned in 2028.
The Government Backing
The deal does not stand alone. Just last week, Energy Fuels announced it had received conditional US government support to accelerate its growth in rare earths and critical materials, including a $725 million conditional loan from the US Office of Strategic Capital. That federal backing reflects the strategic priority Washington has placed on building domestic and allied critical minerals supply chains, a theme that has run through multiple government interventions in 2026 including stakes in quantum computing companies and rare earth miners.
For investors tracking the critical minerals and rare earth space, the Energy Fuels-VAC combination represents one of the clearest examples yet of a smaller company moving aggressively to build a fully integrated, government-supported alternative to Chinese supply chain dominance. As demand for permanent magnets accelerates across defense, electric vehicles, robotics, and AI infrastructure, control of the full value chain from mine to finished magnet is becoming one of the most strategically valuable positions in the entire materials sector.
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
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Strengthening its strategic position. Resolution Minerals has been admitted into the U.S. Defense Industrial Base Consortium (DIBC), a Department of Defense-supported network focused on strengthening critical supply chains and industrial capabilities. Membership provides the company with direct access to government agencies, industry partners, research institutions, and funding opportunities that support U.S. national security objectives.
Advancing critical minerals development. The membership aligns closely with Resolution’s strategy to develop domestic sources of antimony and tungsten, two minerals designated as critical to defense, aerospace, energy, and advanced manufacturing industries. The company has already submitted a funding application for its tungsten development plans and is evaluating additional opportunities to advance its antimony initiatives.
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Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
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2026 G7 Summit in France. First Phosphate Corp. announced that it has secured international investment support and formalized offtake agreements under the Critical Minerals Resilience and Production Alliance at the 2026 G7 Summit in Evian, France. The developments underscore the company’s strategic importance in the effort by G7 nations and allied partners to develop secure and diversified critical mineral supply chains, particularly for lithium iron phosphate (LFP) battery production.
International Investment Support. First Phosphate has secured a letter of interest (LOI) from the Export and Investment Fund of Denmark (EIFO) for up to C$275 million in guarantees to support development of the Begin-Lamarche mine. The company has also received letters of interest from the Italian Export Credit Agency (SACE), from Italy’s National Promotional Institution, Cassa Depositi e Prestiti (CDP), and from the international growth partner for Italian companies (SIMEST). First Phosphate has also received support from the Italian engineering group MAIRE, with respect to First Phosphate’s phosphoric acid plant at Port Saguenay, to deploy Ballestra S.p.A (Italy) technology.
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Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Private Placement Financing. On June 12, First Phosphate closed its oversubscribed financing to existing and other follow-on investors and raised a total of C$15,420,640 with the issuance of 1,432,750 hard dollar units at a price of C$2.00 per unit for gross proceeds of C$2,865,500 and 6,277,570 flow-through shares at a price of C$2.00 per share for gross proceeds of C$12,555,140. Hard dollar units included one common share and one common share purchase warrant that may be exercised for one common share at a price of C$2.50 per share until December 31, 2026, subject to an accelerated expiry date.
Use of proceeds. Proceeds will be used to strengthen the balance sheet, advance metallurgical development, and fund exploration activities across the Saguenay–Lac-Saint-Jean region, supporting First Phosphate’s objective of becoming the leading phosphate explorer in the area. Following Agnico Eagle Limited’s (TSX: AEM, NYSE: AEM) entry into the igneous phosphate sector through its subsidiary Avenir Minerals’ acquisition of Fox River Resources and the Martison Phosphate Project, management believes it is strategically important to secure additional exploration ground throughout the region.
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This Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Annual General Meeting. On June 11, Aurania shareholders approved all resolutions at the company’s Annual General Meeting of Shareholders. Dr. Keith Barron, Chairman, President, and CEO, provided an update, which can be viewed here.
Immediate Plans. In August, Aurania expects to commence a drill program at the Thor’s Valley Gold Project in Iceland. The program will entail twinning seven drill holes and one step-out hole. At the Balangero Nickel-Cobalt Project in Italy, Aurania expects to obtain permits to conduct 15 sonic drill holes and a 20 to 30-tonne bulk sample prior to the release of a Preliminary Economic Assessment. In Brittany, management is taking a second look at LiDAR data to confirm historic mine workings and continues its community engagement efforts.
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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
LIFE Offering. Power Metallic Mines closed its previously announced brokered Listed Issuer Financing Exemption (LIFE) offering that raised C$28.2 million in gross proceeds. The company issued 22.583 million common shares of the company at a price of C$1.25 per share. The agents received an aggregate cash fee of C$1.4 million. We had already assumed the issuance of equity in our financial model. Prominent mining investor Mr. Eric Sprott invested C$2.0 million through his company, 2176423 Ontario Ltd., with the acquisition of 1.6 million shares.
Use of Proceeds. The proceeds will be used to advance the company’s flagship Nisk Project in Quebec and its Jabul Baudan exploration license in Saudi Arabia, and to fund general working capital and corporate needs.
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