Vancouver, British Columbia–(Newsfile Corp. – December 29, 2025) – Nicola Mining Inc. (TSXV: NIM) (the “Company” or “Nicola Mining“) is pleased to announce an additional investment from Ocean Partners UK Limited[1] (“Ocean Partners“), which has agreed to participate in a strategic non-brokered private investment of $1,000,000 to strengthen the Company’s balance sheet as it prepares to uplist onto NASDAQ in Q1 of 2026.
The Company will issue 1,111,112 units (each a “Unit“) at a price of $0.90 per Unit for gross proceeds of up to $1,000,000 (the “Offering“).
Each Unit will consist of one common share of the Company (each, a “Share“) and one transferable common share purchase warrant (each, a “Warrant“). Each Warrant will entitle the holder to purchase one additional Share at a price of $1.10 per Share for a period of three years following the closing of the Offering (the “Closing“). The expiry of the Warrants may be accelerated if the closing price of the Company’s common shares on the TSX Venture Exchange (the “Exchange”) is $1.70 or greater for a minimum of ten consecutive trading days, provided that a notice of acceleration is issued in accordance with the terms of the Warrants.
All securities issued in connection with the Offering will be subject to a statutory holding period expiring four months and one day after closing of the Offering. Completion of the Offering is subject to the approval of the Exchange. Any participation by insiders in the Offering will constitute a related party transaction under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) but is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.
The aggregate gross proceeds from the sale of the Offering will be used for general working capital.
None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Strategic Advisor – Mr. Rahim Kassim-Lakha of Blue Sail Capital
Nicola is also pleased to announce the appointment of Rahim Kassim-Lakha, founder and CEO of Blue Sail Capital, as Strategic Advisor. With nearly 30 years of investing in global i capital markets and M&A experience, Mr. Kassim-Lakha has a proven track record in raising capital and structuring transactions. He has held senior roles at Fidelity Capital and U.S. Global Investors, where he managed over US$1 billion across three award-winning funds. As Strategic Advisor he will provide guidance on capital markets strategy and corporate development opportunities as Nicola advances its projects.
About Nicola Mining
Nicola Mining Inc. is a junior mining company listed on the 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 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 high-grade copper property, which 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 is a fully-permitted high grade silver mine and 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.
[1] Ocean Partners operates in several countries throughout the world. Ocean Partners maintains a strong global network of relationships and contacts in the base metal mining and smelting sector.
Saguenay, Quebec–(Newsfile Corp. – December 29, 2025) – First Phosphate Corp. (CSE: PHOS) (OTCQX: FRSPF) (FSE: KD0) (“First Phosphate” or the “Company“) is pleased to announce that, effective December 19, 2025, its common shares have been added to the CSE25 Index as part of the Canadian Securities Exchange’s (“CSE”) quarterly index rebalancing.
The CSE 25 Index is comprised of the 25 leading companies listed on the CSE, selected based on market capitalization and liquidity criteria. Inclusion in the index increases visibility among institutional and retail investors and results in broader exposure through index-linked investment products and mandates.
“Inclusion in the CSE25 reflects the growing recognition of First Phosphate’s strategic positioning within the North American critical minerals and energy transition ecosystem,” said John Passalacqua, CEO of First Phosphate. “As lithium iron phosphate (“LFP”) batteries are now the dominant chemistry for grid-scale energy storage, data centers and mobility applications, investors are increasingly focused on secure, domestic sources of high-purity phosphate and our differentiated, vertically integrated platform to serve that demand.”
First Phosphate is advancing a rare, high-purity igneous phosphate resource in Saguenay-Lac-Saint-Jean, Quebec, with the objective of supplying high purity phosphate-based downstream materials required for LFP batteries. The Company’s mine-to-market strategy is focused on onshoring critical battery materials, reducing supply chain risk, and supporting North American energy security.
The high-purity phosphoric acid and iron powder for these LFP 18650 battery cells was produced using rare igneous anorthosite rock extracted from the Company’s Bégin-Lamarche property in Saguenay-Lac-Saint-Jean, Quebec.
First Phosphate (CSE: PHOS) (OTCQX: FRSPF) (FSE: KD0) is a mineral exploration, development and cleantech company dedicated to building and onshoring a vertically integrated mine-to-market lithium iron phosphate (LFP) battery supply chain for North America. Target markets include energy storage, data centers, robotics, mobility and national security. First Phosphate’s flagship Bégin-Lamarche Property in Saguenay-Lac-Saint-Jean, Quebec, Canada is a North American rare igneous phosphate resource yielding high-purity phosphate with minimal impurities.
Forward-Looking Information and Cautionary Statements
This release includes certain statements that may be deemed “forward-looking information”. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. In particular, this press release contains forward-looking information relating to, among other things: increased visibility among institutional and retail investors and broader exposure through index-linked investment products and mandates resulting from inclusion in the CSE25 index; supplying high purity phosphate-based downstream materials required for LFP batteries; the Company’s plans for onshoring critical battery materials, reducing supply chain risk, and supporting North American energy security; and the Company’s plans for building and onshoring a vertically integrated mine-to-market LFP battery supply chain for North America. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include development and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. These statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions; there being no significant disruptions affecting the activities of the Company or inability to access required project inputs; permitting and development of the projects being consistent with the Company’s expectations; the accuracy of the current mineral resource estimates for the Company and results of metallurgical testing; certain price assumptions for P2O5 and Fe2O3; inflation and prices for Company project inputs being approximately consistent with anticipated levels; the Company’s relationship with First Nations and other Indigenous parties remaining consistent with the Company’s expectations; the Company’s relationship with other third party partners and suppliers remaining consistent with the Company’s expectations; and government relations and actions being consistent with Company expectations. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. The Company does not assume any obligation to update or revise its forward-looking statements, whether because of new information, future events or otherwise, except as required by applicable law. All forward-looking information contained in this release is qualified by these cautionary statements.
Precious metals are closing out the year with extraordinary momentum, underscoring a broader shift in global investment sentiment toward safety, scarcity, and real assets. Gold, silver, and platinum all surged to fresh all-time highs this week, extending one of the strongest rallies in modern market history and signaling growing unease beneath the surface of global financial markets.
Spot gold climbed above $4,530 an ounce, capping a year in which the metal has gained roughly 70%. Silver has been even more explosive, soaring more than 150% year-to-date and briefly crossing the $75 mark. Platinum, often overshadowed by its peers, has joined the rally with force, jumping more than 40% in December alone as supply deficits tighten and industrial demand rebounds.
At its core, the rally reflects a powerful shift in investor psychology. Heightened geopolitical tensions—from US actions in Venezuela to military operations in Africa—have revived gold’s traditional role as a safe-haven asset. At the same time, a weakening US dollar has amplified gains, making dollar-priced commodities more attractive to global investors. The Bloomberg Dollar Spot Index’s sharp weekly decline has provided fresh fuel for metals already in motion.
Monetary policy has played an equally important role. Three interest rate cuts by the US Federal Reserve this year have reduced the opportunity cost of holding non-yielding assets like gold and silver. With markets increasingly pricing in further easing in 2026, investors are positioning ahead of a prolonged low-rate environment. The result has been strong inflows into exchange-traded funds, particularly gold-backed vehicles, signaling institutional conviction rather than short-term speculation.
Beyond macro policy, deeper structural concerns are driving what many analysts describe as the “debasement trade.” Rising government debt levels, persistent fiscal deficits, and political pressure on central bank independence have eroded confidence in fiat currencies and sovereign bonds. In response, investors are reallocating toward tangible assets perceived as stores of value in an era of monetary experimentation.
Silver’s rally highlights another critical theme: supply constraints meeting financial leverage. Following a historic short squeeze earlier in the year, physical silver availability remains tight across key global hubs. While speculative positions continue to grow on paper, the limited supply of deliverable metal has intensified price pressures. Potential US trade restrictions on critical mineral imports have only added to the uncertainty, reinforcing silver’s dual appeal as both a monetary and industrial asset.
Platinum’s surge reflects similar dynamics. Persistent supply disruptions in South Africa, combined with strong demand from automotive and jewelry sectors, have pushed the market into its third consecutive annual deficit. As investors broaden their exposure beyond gold, platinum is increasingly viewed as an undervalued hedge with asymmetric upside.
Taken together, the record-breaking rally in precious metals is not an isolated phenomenon—it is a mirror of today’s investment landscape. While equity markets remain resilient, the surge in hard assets suggests investors are quietly hedging against volatility, policy risk, and currency erosion. As the year draws to a close, gold and silver’s ascent sends a clear message: confidence may be high on the surface, but caution is deeply embedded in global portfolios.
Comstock (NYSE: LODE) innovates technologies that contribute to global decarbonization and circularity by efficiently converting under-utilized natural resources into renewable fuels and electrification products that contribute to balancing global uses and emissions of carbon. The Company intends to achieve exponential growth and extraordinary financial, natural, and social gains by building, owning, and operating a fleet of advanced carbon neutral extraction and refining facilities, by selling an array of complimentary process solutions and related services, and by licensing selected technologies to qualified strategic partners. To learn more, please visit www.comstock.inc.
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Hans Baldau, Associate Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Rating Lowered to Market Perform. While we had upgraded Comstock Inc. to Outperform on November 4, we have concluded our rating upgrade may have been too early, despite the share price appreciating ~33% from the date of our upgrade. It appears the company’s near-term capital needs remain significant, and we will reassess the value of the company’s businesses, once Comstock’s commercial scale recycling facility is operational and plans for the company’s mining assets are more fully realized. Moreover, we have been frustrated by the company’s promises to monetize non-core assets, including properties in Silver Springs, Nevada, without following through on its commitment. At this stage, we consider Comstock’s investment in Bioleum Corporation as a call option on its growth and success, which is subject to significant risk factors.
At the market offering. Comstock Inc. recently executed an At-the-Market Offering Agreement with Titan Partners Group LLC to offer and sell shares of common stock from time to time totaling up to $100.0 million. Titan Partners will be compensated at a commission rate equal to 3.0% of the gross sales price per share. Net proceeds will be used for general corporate purposes, including capital expenditures associated with commercializing subsequent industry scale and storage facilities for Comstock Metals, in addition to acquisitions, and technical, operational and human resource development expenses for supporting growth. Beyond acting as a headwind for capital appreciation, the ATM equity issuance could promote shareholder dilution.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
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.
Hans Baldau, Associate Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
High-grade silver-gold system confirmed. Kuya Silver reported strong initial exploration results from the Umm Hadid Project in Saudi Arabia, confirming high-grade silver-gold mineralization over a large area measuring approximately 6.0 km by 2.5 km. In our view, the scale of the mineralized footprint and grade tenor materially de-risks the project at an early stage. Umm Hadid is operated by Silver Mining LLC, a joint venture between Sumou Holding and Kuya Silver.
Maiden drilling validates surface results. The first drill program comprised 29 diamond drill holes totaling roughly 5,000 meters across three target areas defined by surface sampling. Drilling returned high-grade intercepts of up to 1,483.9 g/t silver equivalent over two meters, with several additional intersections grading several hundred grams per tonne. Surface sampling of 460 grab samples averaged 86.1 g/t silver equivalent, with peak values reaching 1,359.8 g/t. We believe a strong gold-silver correlation supports the presence of a large hydrothermal system.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
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.
December 22, 2025 – Vancouver, Canada – Century Lithium Corp. (TSXV: LCE) (OTCQX: CYDVF) (Frankfurt: C1Z) (“Century Lithium” or “the Company is pleased to announce that Mr. Matthew Tompkins has been appointed Chief Financial Officer of the Company, effective immediately.
Mr. Tompkins has served as Century Lithium’s Interim Chief Financial Officer since September 2025. During this period, he has provided continuity in financial leadership and supported the Company’s strategic and corporate objectives. Following a review by the Board of Directors, the Company has confirmed his appointment as Chief Financial Officer on a permanent basis.
“Matthew has demonstrated strong financial leadership and a clear understanding of Century Lithium’s business and strategic priorities,” said Bill Willoughby, President and Chief Executive Officer of Century Lithium. “The Board is confident that his experience and disciplined approach will continue to support the Company as it advances its Angel Island Lithium Project and executes its long-term strategy.”
Mr. Tompkins brings extensive experience in financial management, public company reporting, and corporate governance, with a background supporting resource and development-stage companies.
ABOUT CENTURY LITHIUM CORP.
Century Lithium Corp. is an advanced-stage lithium company, focused on developing its 100%-owned lithium project Angel Island in Esmeralda County, Nevada, which hosts one of the largest sedimentary lithium deposits in the United States. The Company has utilized its patent-pending process for chloride leaching combined with direct lithium extraction to make battery-grade lithium carbonate. As part of the Company’s chlor-alkali process, the planned sale of surplus sodium hydroxide produced at Angel Island is expected to contribute meaningfully to maintaining competitive operating costs for lithium carbonate production.
Angel Island is one of the few advanced lithium projects in development in the United States to provide an end-to-end process to produce battery-grade lithium carbonate for the growing electric vehicle and battery storage market. Angel Island is currently in the permitting stage for a three-phase feasibility-level production plan, expected to yield an estimated life-of-mine average of 34,000 tonnes per year of lithium carbonate over a 40-year mine-life.
Century Lithium trades on both the TSX Venture Exchange under the symbol “LCE” and the OTCQX under the symbol “CYDVF”, and on the Frankfurt Stock Exchange under the symbol “C1Z”.
Anfield Energy Inc. (TSX.V: AEC; NASDAQ: AEC; FRANKFURT: 0AD) announced it has entered into a definitive agreement to acquire BRS Inc., a Wyoming-based engineering and consulting firm specializing in uranium and vanadium projects. The transaction represents a strategic step toward strengthening Anfield’s internal technical capabilities as the company advances its portfolio toward near-term production.
BRS has served as a long-standing technical partner to Anfield since 2014, providing engineering, geology, mine development, and construction management services across multiple assets. The firm has authored numerous technical reports, Preliminary Economic Assessments (PEAs), and resource updates for projects including Slick Rock, the West Slope Projects, and the Velvet-Wood Mine. By integrating BRS directly into its operations, Anfield aims to streamline project execution while reducing reliance on third-party consultants.
The acquisition brings decades of specialized expertise in uranium exploration, in-situ recovery (ISR), conventional mining, and mill reactivation directly under Anfield’s corporate umbrella. Douglas L. Beahm, founder of BRS and Anfield’s Chief Operating Officer, will continue in his executive role while serving as principal engineer. Beahm is a Qualified Person under NI 43-101 with more than 50 years of experience in uranium resource development, mine operations, and regulatory permitting seen as critical to Anfield’s growth strategy.
From an operational standpoint, the transaction is expected to improve cost efficiency and shorten development timelines across Anfield’s asset base. Internalizing engineering and technical functions allows the company to move more quickly on resource updates, economic studies, permitting applications, and mine planning activities. This is particularly relevant as Anfield continues efforts toward restarting the Shootaring Canyon mill, which anchors its hub-and-spoke development strategy in the U.S.
Beyond operational efficiencies, the acquisition also creates new growth avenues. BRS is expected to expand its external consulting services with the support of a publicly traded platform, potentially offering turnkey development solutions to third-party toll-mill partners. The expanded technical team may also help Anfield identify and evaluate acquisition opportunities more rapidly, supporting resource expansion and portfolio optimization.
The deal terms include total cash consideration of US$5 million paid to Beahm over a two-year period. An initial payment of US$1.5 million will be made at closing, followed by US$1.5 million after the first anniversary and a final US$2 million payment after the second anniversary. No securities will be issued as part of the transaction, and no finder’s fees are payable. Completion of the acquisition remains subject to customary closing conditions and regulatory approvals.
As a related-party transaction under Multilateral Instrument 61-101, the acquisition qualifies for exemptions from formal valuation and minority shareholder approval requirements, as the total consideration does not exceed 25% of Anfield’s market capitalization.
Anfield Energy is a uranium and vanadium development company focused on building a vertically integrated domestic energy fuels platform. The acquisition of BRS marks a meaningful step toward that goal, enhancing internal technical depth while positioning the company to advance its projects more efficiently amid rising demand for U.S.-based uranium supply.
The United States is throwing its support behind a major new critical minerals investment as Korea Zinc moves forward with plans to build a $7.4 billion smelting facility on U.S. soil. The project underscores Washington’s growing urgency to secure domestic and allied supply chains for materials vital to semiconductors, defense systems, aerospace applications, and advanced manufacturing.
Korea Zinc, the world’s largest zinc smelter, has approved the creation of a U.S.-based joint venture, Crucible JV LLC, to develop what it describes as a state-of-the-art, fully integrated large-scale smelting complex. The venture will be backed by a mix of U.S. government funding, strategic investors, and Korea Zinc itself, with roughly $1.94 billion of the total project cost coming from this public-private partnership.
The planned facility will be built on the site of the existing Clarksville, Tennessee smelter currently operated by Nyrstar USA, a subsidiary of commodities trader Trafigura. Korea Zinc plans to acquire the plant and significantly expand its capabilities, transforming it into a multi-metal processing hub. Once completed, the site is expected to refine zinc, lead, copper, gold, and silver, along with strategically sensitive minerals such as antimony, germanium, and gallium.
Those three minerals have taken on heightened geopolitical importance following China’s recent export restrictions, which were widely viewed as retaliation for U.S. technology curbs. Antimony, germanium, and gallium are essential inputs for products ranging from semiconductors and satellite systems to night-vision equipment and advanced defense electronics. By developing domestic refining capacity, the U.S. aims to reduce reliance on Chinese-controlled supply chains and strengthen its industrial resilience.
The deal highlights how critical minerals policy has become a bipartisan priority in Washington. Even as incentives for electric vehicles face political headwinds, securing non-China sources of strategic materials has gained momentum. For Korea Zinc, the U.S. investment represents a shift in positioning — from a company tied closely to the electric vehicle and clean energy cycle to one that plays a broader role in national security and defense supply chains.
JPMorgan Chase advised Korea Zinc on the structure of the public-private partnership and helped finance the transaction through its Security and Resiliency Initiative, a program designed to channel capital into industries that reinforce economic security. The involvement of major financial institutions further signals confidence in the long-term demand for domestically refined critical minerals.
Still, the announcement comes amid internal corporate tensions. Korea Zinc is navigating an ongoing ownership dispute after its largest shareholder, Young Poong, alongside MBK Partners, launched an unsolicited takeover bid. Critics argue the U.S. smelter plan could be as much about consolidating management control as it is about long-term strategy. Supporters counter that the project positions Korea Zinc at the center of a global realignment in industrial supply chains.
Market reaction suggests investors see strategic value in the move. Korea Zinc shares surged following the announcement, reflecting optimism that geopolitical tailwinds and government backing could translate into durable growth. As global competition for critical minerals intensifies, the U.S.-Korea Zinc partnership marks a significant step in reshaping how and where essential materials are produced.
December 2, 2025 – Vancouver, Canada – Century Lithium Corp. (TSXV: LCE) (OTCQX: CYDVF) (Frankfurt: C1Z) (“Century Lithium” or “the Company”) is pleased to report positive results from its ongoing test work on the recovery of rare earth elements (“REEs”) from primary lithium leach solutions generated from its 100%-owned Angel Island lithium project in Nevada, USA. The initial testing indicates that high REE recoveries can be achieved without impacting lithium recovery in Century Lithium’s extraction process.
“The REE recovery results validate our belief that Century Lithium’s leach solutions offer meaningful secondary-value opportunities,” said Todd Fayram, Century Lithium’s Senior Vice President, Metallurgy. “Producing a secondary REE-rich product has the potential to strengthen Angel Island’s economics and align the Company with broader government and industry initiatives supporting secure North American critical-minerals supply chains.”
Century Lithium previously confirmed that the leach solutions produced from Angel Island claystone contain notable concentrations of REEs, including dysprosium, gadolinium, neodymium, and praseodymium, as well as higher concentrations of the critical metals scandium, lanthanum, and cerium. Cesium is also present.
Ion-exchange test work achieved greater than 97% recovery of the identified REEs and critical metals, excluding cesium, while maintaining complete selectivity against lithium. This selectivity is essential for downstream lithium recovery through the Company’s process flowsheet, which includes ultrafiltration, direct lithium extraction (“DLE”) and subsequent steps to produce high-purity lithium carbonate.
The Company’s metallurgical program at Angel Island continues to focus on the following:
Optimizing ion-exchange performance and selectivity
Advancing downstream processing flowsheets for REE concentration and refinement
Evaluating market pathways for a commercial REE by-product
Assessing the economic contribution of REEs to primary lithium production
These results represent a significant technical milestone, demonstrating that REE extraction and recovery can be implemented without affecting the Company’s core lithium recovery process. Century Lithium believes these advancements position the Company to potentially supply both lithium and REEs to North American critical minerals markets, supporting supply-chain resilience and enhancing long-term project value for Angel Island.
Qualified Person
Todd Fayram, MMSA-QP and Senior Vice President, Metallurgy of Century Lithium is the qualified person as defined by National Instrument 43-101 and has approved the technical information in this release.
ABOUT CENTURY LITHIUM CORP.
Century Lithium Corp. is an advanced-stage lithium company, focused on developing its 100%-owned lithium project Angel Island in Esmeralda County, Nevada, which hosts one of the largest sedimentary lithium deposits in the United States. The Company has utilized its patent-pending process for chloride leaching combined with direct lithium extraction to make battery-grade lithium carbonate product samples from Angel Island’s lithium-bearing claystone at its Demonstration Plant in Amargosa Valley, Nevada.
Angel Island is one of the few advanced lithium projects in development in the United States to provide an end-to-end process to produce battery-grade lithium carbonate for the growing electric vehicle and battery storage market. Angel Island is currently in the permitting stage for a three-phase feasibility-level production plan, expected to yield an estimated life-of-mine average of 34,000 tonnes per year of lithium carbonate over a 40-year mine-life.
Century Lithium trades on both the TSX Venture Exchange under the symbol “LCE” and the OTCQX under the symbol “CYDVF”, and on the Frankfurt Stock Exchange under the symbol “C1Z”.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
This release contains certain forward-looking statements within the meaning of applicable Canadian securities legislation. In certain cases, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” and similar expressions suggesting future outcomes or statements regarding an outlook.
Forward-looking statements relate to any matters that are not historical facts and statements of our beliefs, intentions and expectations about developments, results and events which will or may occur in the future, without limitation, statements with respect to the potential development and value of the Project and benefits associated therewith, statements with respect to the expected project economics for the Project, such as estimates of life of mine, lithium prices, production and recoveries, capital and operating costs, IRR, NPV and cash flows, any projections outlined in the Feasibility Study in respect of the Project, the permitting status of the Project and the Company’s future development plans.
These and other forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause their actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein.These risks include those described under the heading “Risk Factors” in the Company’s most recent annual information form and its other public filings, copies of which can be under the Company’s profile at www.sedarplus.com. The Company expressly disclaims any obligation to update-forward-looking information except as required by applicable law. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place reliance on forward-looking statements or information. Furthermore, Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Hans Baldau, Associate Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Exploration Licenses Granted in Brittany. Aurania, through a wholly owned French subsidiary, has been granted three new exploration licenses for polymetallic metals, including gold, in the Brittany Peninsula of northwestern France. It represents a new opportunity for Aurania in a stable mining jurisdiction with developed infrastructure. Initial mining inventory studies conducted by the French Geological Survey (BRGM) confirmed the presence of gold associated with strategic metals over more than 150 kilometers along a shear zone.
Precious and Strategic Metals. The permits allow Aurania to explore the South American Shear Zone, a major crustal fault where mineralization, including antimony, tungsten, tin, zinc, and copper, accompanied by gold and other metals, have been deposited. The Brittany Peninsula is a highly prospective area that can be considered a greenfield district. Aurania will proceed with stakeholder engagement, while advancing preparations for an airborne geophysical survey and subsequent field activities.
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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.
The global shift toward electrification is accelerating, and with it comes a renewed focus on the minerals that make modern energy and technology possible. Lithium, nickel, graphite, phosphate, rare earths, and other essential materials are the backbone of batteries, solar panels, electric vehicles, and grid-scale storage. As nations push to secure supply chains and reduce dependence on foreign imports, the critical minerals sector is becoming one of the most strategically important areas in global markets. For small-cap investors, this creates a compelling landscape of early-stage opportunities.
Large producers tend to dominate the headlines, but the real innovation and discovery often originate in the junior and small-cap space. These companies take on the high-risk, early exploration work that can eventually create meaningful supply for downstream industries. While these stocks can be volatile, they also offer leverage to rising demand and tightening supply conditions that can dramatically reprice assets once the market recognizes their potential.
One example of this emerging potential can be seen in the phosphate segment. Phosphate is best known for its role in agriculture, but it is increasingly valuable as a component in lithium iron phosphate (LFP) batteries. This chemistry has become a preferred option for EV manufacturers and grid-storage systems due to its safety profile, long cycle life, and lower cost. As LFP adoption expands, the need for battery-grade phosphate grows alongside it.
Emerging growth companies such as First Phosphate have positioned themselves within this shift. While still small-cap in size, the focus on high-purity phosphate projects in geopolitically stable regions aligns with what major battery and automotive manufacturers are now seeking: secure, traceable, and environmentally responsible supply. These are qualities that the North American market in particular is trying to build as part of a broader strategy to reduce reliance on overseas sources.
Beyond phosphate, other critical minerals are facing similar supply-demand pressures. Graphite remains essential for battery anodes, yet most production is concentrated in a single country. Rare earth elements are required for EV motors and wind turbines, but refining capacity is limited and slow to build. Nickel and manganese face challenges tied to environmental impacts and inconsistent global supply. In each of these segments, small-cap exploration and development companies are working to advance projects that could eventually scale into meaningful contributors to the supply chain.
For investors willing to put in the research, the small-cap critical minerals sector offers exposure to themes that are likely to play out over decades. Governments are investing heavily in domestic mineral strategies, electrification continues to expand worldwide, and technology companies are demanding reliable inputs to meet their production goals. These forces create a long runway for companies that can deliver high-purity materials at competitive costs.
Small-cap investing in this space still requires discipline. Projects take time to develop, capital needs can be significant, and not every discovery becomes a mine. But for investors looking for early entry points into the minerals reshaping the global energy landscape, this sector provides a combination of macro tailwinds and company-specific catalysts that can create real opportunity when approached carefully.
Toronto, Ontario–(Newsfile Corp. – December 10, 2025) – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) (“Aurania” or the “Company”) is pleased to announce it has been granted three new exploration licenses for polymetallic metals including gold, in the Brittany Peninsula of northwestern France through a wholly-owned French subsidiary of the Company.
President and CEO, Dr. Keith Barron commented, “The French government’s decision to grant us these permits is an excellent opportunity for Brittany and the Pays de la Loire to gain a deeper understanding of their subsurface resources and for France to find new sources of metals to secure the country’s supplies through exploration to be conducted by Company. It also marks a new opportunity for Aurania in a jurisdiction where institutional stability and high-quality infrastructure make exploration safe and more efficient than other areas in the world. The initial mining inventory studies conducted by the French Geological Survey (BRGM) confirmed the presence of gold associated with strategic metals over more than 150 km along the shear zone, and in some cases at exceptional grades. This demonstrates the strength of the hydrothermal activity that occurred in the region.”
Aurania announced the filing of an exploration permit named Epona back in 2023 (see press release dated July 24, 2023). Subsequently, in October 2023, the Company submitted two additional applications, Taranis and Bélénos, covering areas of 359.5 km² and 440.9 km² respectively. These areas are located in southern Brittany and northern Pays de la Loire in France (see map in Figure 1 below).
Since antiquity, Brittany has been an important producer of metals in Europe – supplying tin and gold to the Roman Empire, then base metals and silver during the Middle Ages, and later tin, antimony, and uranium during the Industrial Revolution. Despite this long history, no exploration has been conducted in the region since the 1980s, leaving its significant potential largely unexplored. With more than four decades of advances in exploration technologies, the application of modern exploration techniques potentially positions the Brittany Peninsula as a highly prospective area that can be considered a greenfield district.
The purpose of these permits is to explore the South Armorican Shear Zone, a major crustal fault where mineralization of antimony, tungsten, tin, zinc, and copper – accompanied by gold – and other metals have been deposited as indicated by the BRGM.
Figure 1: Location of Aurania’s permits in France.
With geology comparable to the Iberian Peninsula, the Bohemian Massif, Newfoundland and other Variscan terranes, the Armorican Massif stands out as a possible candidate to help meet Europe’s growing demand for strategic metals in a market environment largely dominated by China. The European Union launched the European Critical Raw Materials Act, a plan that aims to secure 10% of its metal supply from within Europe by 2030. Support for the mining industry was first expressed by the French government in 2022 after receiving the Varin Report and was later reinforced through the launch of a new national mineral inventory1. The areas selected by Aurania align with this plan, and show strong potential for strategic metals such as antimony, tungsten, and tin, as well as zinc and silver, with by-products of indium (see Figure 2).1
Figure 2: Geology of the permit areas and main commodities.
An advantage of the Armorican Massif is its potential richness in gold associated with the aforementioned metals, which enhances the likelihood of an economic discovery. In this respect, the area can be compared to the district currently being explored by New Found Gold in Newfoundland, Canada, where a similar dispersion of gold is observed along a shear zone within a comparable Cambrian to Ordovician geological environment.
Figure 3: Comparison on the same scale between the geology and gold showings at the Queensway permit (New Found Gold) located in Canada and the area of Aurania’s permits in France (modified from the map published in the 43-101 report, January 2023 Exploration Update: New Found Gold Corp.’s Queensway Gold Project, NL, Figure 7.17).
Aurania will proceed with stakeholder engagement, including outreach and dialogue with local landowners, while advancing preparations for an airborne geophysical survey and subsequent field activities.
Qualified Person
The geological information contained in this news release has been verified and approved by Jean-Paul Pallier, MSc., Vice-President Exploration of the Company. Mr. Pallier is a designated EurGeol by the European Federation of Geologists and a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.
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.
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.
Forward-Looking Statements
This news release contains forward-looking information as such term is defined in applicable securities laws, which relate to future events or future performance and reflect management’s current expectations and assumptions. The forward-looking information includes that the Company’s exploration activities may be an excellent opportunity for Brittany and the Pays de la Loire to gain a deeper understanding of their subsurface resources, the purpose of obtaining the permits being to explore the South Armorican Shear Zone, that the Armorican Massif stands out as a possible candidate to help meet Europe’s growing demand for strategic metals, that an advantage of the Armorican Massif is its potential richness in gold associated with the aforementioned metals, which enhances the likelihood of an economic discovery, the Company’s next steps with respect to the permits and exploration activities conducted thereof, Aurania’s objectives, goals or future plans, statements, exploration results, potential mineralization, the tonnage and grade of mineralization which has the potential for economic extraction and processing, the merits and effectiveness of known process and recovery methods, the corporation’s portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration, timing of the commencement of operations, the commencement of any drill program and estimates of market conditions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to Aurania, including the assumption that, there will be no material adverse change in metal prices, all necessary consents, licenses, permits and approvals will be obtained, including various local government licenses and the market. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. Risk factors that could cause actual results to differ materially from the results expressed or implied by the forward-looking information include, among other things: failure to identify mineral resources; failure to convert estimated mineral resources to reserves; the inability to complete a feasibility study which recommends a production decision; the preliminary nature of metallurgical test results; the inability to recover and process mineralization using known mining methods; the presence of deleterious mineralization or the inability to process mineralization in an environmentally acceptable manner; commodity prices, supply chain disruptions, restrictions on labour and workplace attendance and local and international travel; a failure to obtain or delays in obtaining the required regulatory licenses, permits, approvals and consents; an inability to access financing as needed; a general economic downturn, a volatile stock price, labour strikes, political unrest, changes in the mining regulatory regime governing Aurania; a failure to comply with environmental regulations; a weakening of market and industry reliance on precious metals and base metals; and those risks set out in the Company’s public documents filed on SEDAR+. Aurania cautions the reader that the above list of risk factors is not exhaustive. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
1 In September 2023, President Emmanuel Macron announced the launch of a major update to France’s national mineral inventory, known as the Inventaire des Ressources Minérales (IRM). This initiative was designed to identify subsurface areas with potential mineral resources, reduce import dependence, and support re-industrialization efforts. The inventory is being led by the French Geological Survey (BRGM) and aligns with the EU’s Critical Raw Materials Act. https://www.brgm.fr/en/news/feature-article/mineral-resources-inventory-answers-questions-faq
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Hans Baldau, Associate Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
2025 Milestones. At New Craigmont, Nicola recently completed a drilling program with assay results pending. At the Merritt Mill, Nicola transitioned from toll milling to long-term precious metals production supported by multiple sources of feed. A multi-year exploration permit and a 10-year mine lease extension further support renewed exploration and the potential reopening of the Treasure Mountain Silver Project. Nicola also secured two key permits for its wholly owned gravel pit and completed construction of its ready-mix cement plant, positioning the company to generate additional revenues to support operations. Finally, Nicola completed the mine development required for a 10,000-tonne bulk sample at the Dominion Creek Gold Project, with a restart planned for July 2026.
What’s Next? 2026 value drivers include: (1) operating the Merritt Mill at full capacity, (2) continued drilling at New Craigmont to vector toward the core of a copper porphyry system, (3) initiating exploration and drilling at the Treasure Mountain Silver Project, and (4) processing high-grade ore from the Dominion Creek bulk sample.
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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.
