Natural Resources Archives - Page 2 of 165

Release – First Phosphate Receives Conditional Approval for up to $16.7 Million Non-Repayable Contribution from the Government of Canada

Posted on March 2, 2026March 2, 2026 by aweinsoff@channelchek.com

March 02, 2026 2:03 PM EST | Source: First Phosphate Corp.

Saguenay, Québec–(Newsfile Corp. – March 2, 2026) – First Phosphate Corp. (CSE: PHOS) (OTCQX: FRSPF) (OTCQX ADR: FPHOY) (FSE: KD0) (“First Phosphate” or the “Company“) has been conditionally approved for a non-repayable contribution agreement for up to C$16.7 million with the Government of Canada through Natural Resources Canada (“NRCan”) under the Global Partnerships Initiative (“GPI”).

This contribution funded by the Government of Canada will be deployed to assess the technical and engineering parameters – including processing circuits and equipment – needed to validate the ability to produce a phosphate concentrate that meets the quality requirements of the lithium iron phosphate (“LFP”) battery market. The work will be conducted based on the parameters established under the contract between First Phosphate and its definitive offtaker.

“Canada and our partners are putting real capital behind the secure and resilient critical mineral supply chains that our economies and defence industries rely on,” said The Honourable Tim Hodgson, Minister of Energy and Natural Resources. “By supporting companies like First Phosphate, we are helping deliver the minerals the world needs and the prosperity and security Canadians deserve.”

“This financial support of the Government of Canada represents an important lever for the continuation of our development work,” stated Armand MacKenzie, President of First Phosphate. “This contribution enables us to carry out detailed work aimed at validating LFP application requirements and the expectations of our offtakers and international partners.”

The development work will help strengthen Canada’s strategic positioning within the LFP battery value chain through the development of domestic capacity to process apatite (phosphate concentrate) into high-purity phosphoric acid (“PPA”) for battery applications.

The project will develop a scalable Canadian process for the production of battery-grade phosphate concentrate, reducing dependence on foreign supply chains.

The activities will contribute to significant economic benefits, including the creation of skilled jobs and the potential establishment of a Canadian phosphoric acid facility supported by local commercial production of phosphate concentrate.

The financial contribution is granted for the completion of a study of the Company’s integrated phosphate concentrate project in Saguenay-Lac-Saint-Jean and covers eligible activities planned through 2028, in accordance with the terms of the agreement. It forms part of an initiative to support industrial collaboration and the integration of Canadian projects into international supply chains for battery materials.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8917/285984_19c5995ee4b229ba_001full.jpg

Qualified Person

The scientific and technical disclosure for First Phosphate included in this news release has been reviewed and approved by Gilles Laverdière, P.Geo. Mr. Laverdière is Chief Geologist of First Phosphate and a Qualified Person under National Instrument 43-101 – Standards of Disclosure of Mineral Projects (“NI 43-101”).

About Natural Resources Canada

Natural Resources Canada (“NRCan”) is the federal department responsible for developing policies and programs to ensure the sustainable and responsible development of Canada’s natural resources. Through its initiatives and funding programs, including the International Partnerships Program, NRCan supports projects that contribute to strengthening supply chains, industrial innovation, and Canada’s competitiveness in the critical and strategic minerals sectors.

About First Phosphate Corp

First Phosphate (CSE: PHOS) (OTCQX: FRSPF) (OTCQX ADR: FPHOY) (FSE: KD0) is a mineral exploration and development and clean technology company dedicated to building and reshoring a vertically integrated mine-to-market supply chain for the production of LFP batteries in North America. Target markets include energy storage, data centers, robotics, mobility, and national security.

First Phosphate’s flagship Bégin-Lamarche property, located in Saguenay-Lac-Saint-Jean, Québec, Canada, represents a rare North American igneous phosphate resource producing high-purity phosphate characterized by very low levels of impurities.

For further information, please contact:

Armand MacKenzie
President
armand@firstphosphate.com
Tel: +1 (514) 618-5289

Investor Relations: investor@firstphosphate.com
Media Relations: media@firstphosphate.com
Website: www.FirstPhosphate.com

Follow First Phosphate:

X: https://x.com/FirstPhosphate
LinkedIn: https://www.linkedin.com/company/first-phosphate

– 30 –

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: the execution and final terms of a written contribution agreement to be entered into among the parties and the Company’s compliance with the terms thereof; the funding amount, anticipated benefits, timing, and potential outcomes of the GPI funding award under the contribution agreement with NRCan and the project funded thereby including, but not limited to, the strengthening of Canada’s strategic positioning within the LFP battery value chain, the development of domestic capacity to process apatite into high-purity PPA for battery applications, the development of a scalable Canadian process for the production of battery-grade phosphate concentrate, the reduction of dependence on foreign supply chains, and the contribution to significant economic benefits, including the creation of skilled jobs and the potential establishment of a Canadian phosphoric acid facility; 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.

Source: First Phosphate Corp.

Release – First Phosphate Applauds Addition of Phosphate to the Canadian List of Critical Minerals Essential for Clean Technology

Posted on February 27, 2026February 27, 2026 by aweinsoff@channelchek.com

Research News and Market Data on FRSPF

February 27, 2026 7:11 AM EST | Source: First Phosphate Corp.

Saguenay, Quebec–(Newsfile Corp. – February 27, 2026) – First Phosphate Corp. (CSE: PHOS) (OTCQX: FRSPF) (OTCQX ADR: FPHOY) (FSE: KD0) (“First Phosphate” or the “Company“) applauds the amendment to the 2025 Canadian federal budget which passed yesterday to include phosphate on the list of critical minerals essential for clean technology.

Phosphate exploration and downstream processing facilities will now benefit from numerous Canadian federal programs dedicated to key critical minerals including these two essential tax credit programs:

The Critical Mineral Exploration Tax Credit (“CMETC”), a 30% Canadian refundable tax credit for Canadian investors in junior mining companies in respect of targeted exploration expenses.
The Clean Technology Manufacturing Investment Tax Credit (“CTM”), a 30% refundable tax credit for Canadian corporations investing in new machinery and equipment for manufacturing clean technologies or processing critical minerals.

The CMETC will assist First Phosphate in raising funds geared towards further exploring and developing its mineral properties in Saguenay-Lac-St-Jean, Quebec and to continue to develop the region’s district-level phosphate zone.

The CTM will be beneficial to First Phosphate in building out infrastructure associated with the operating and mining of its advanced phosphate properties as well as its future downstream processing facilities such as the planned phosphoric acid plant and the planned lithium iron phosphate (“LFP”) cathode active material plant.

First Phosphate wishes to thank members of the Standing Committee on Finance, Canada and members of the Standing Committee on Natural Resources, Canada for recognizing that phosphate is no longer just about fertilizer but also about high technology. An overwhelming majority of batteries produced on the planet are now based on LFP chemistry of which the majority of the cathode is comprised of high-purity phosphate such as the type found on First Phosphate properties in Saguenay-Lac-St-Jean, Quebec.

First Phosphate has recently produced commercial-grade LFP 18650 battery cells using North American critical minerals: https://firstphosphate.com/north-american-lfp-battery-cells

The high-purity phosphoric acid 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.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8917/285596_4984a220c471c99e_001full.jpg

About First Phosphate Corp.

First Phosphate (CSE: PHOS) (OTCQX: FRSPF) (OTCQX ADR: FPHOY) (FSE: KD0) is a mineral exploration, development and cleantech company dedicated to examining and ultimately 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.

Media & Investor Contact:

Bennett Kurtz
Chief Financial Officer
bennett@firstphosphate.com
Tel: +1 (416) 200-0657

Investor Relations: investor@firstphosphate.com
Media Relations: media@firstphosphate.com
Website: www.FirstPhosphate.com

Follow First Phosphate:

X: https://x.com/FirstPhosphate
LinkedIn: https://www.linkedin.com/company/first-phosphate

-30-

Forward-Looking Information and Cautionary Statements

This release includes certain statements that may be deemed “forwarding 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: the assistance the CMETC will provide First Phosphate in raising funds geared towards exploring and developing its mineral properties in Saguenay-Lac-St-Jean, Quebec and to continue to develop the region’s district-level phosphate zone; the benefit the CTM will provide First Phosphate in building out infrastructure associated with the operating and mining of its advanced phosphate properties as well as its future downstream processing facilities such as the planned phosphoric acid purification plant and the planned LFP cathode active material plant; the Company’s planned exploration and production activities and the results thereof; the properties and composition of any extracted phosphate; the Company’s plans relating to the design, build, operation and maintenance of operations and mining at its Bégin-Lamarche property or elsewhere (and the possibility of eventual economic extraction of minerals from therefrom); the achievement and completion of all required steps to build and operate facilities to process phosphate concentrate, and phosphoric acid, including, without limitation, access to financing, and regulatory and environmental approvals; 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.

Source: First Phosphate Corp.

Nicola Mining Inc. (HUSIF) – Building Momentum

Posted on February 27, 2026February 27, 2026 by slightbourne@noblecapitalmarkets.com

Friday, February 27, 2026

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.

Operational momentum continues. Nicola reported a significant increase in throughput of high-grade gold and silver mill feed from its partnership with Blue Lagoon Resources at the Dome Mountain Gold Project. Processing at the Merritt Mill has shifted from a gravity-and-flotation circuit to a flotation-only flowsheet, better aligning with the sulphide-hosted mineralization and enhancing recoveries, concentrate grades, and payable metal output. Ongoing plant upgrades are expected to improve efficiency and throughput. Underground development at Dome Mountain is progressing, with additional mining faces being prepared to support sustainable increases in mill feed tonnage.

Advancing the next phase of gold production at Dominion Creek. Dominion represents an additional driver of growth, targeting high-grade gold mineralization. Nicola is procuring needed mobile equipment and personnel ahead of the planned extraction in July 2026 under a bulk sample permit. The bulk sample program is intended to validate grade continuity, metallurgical performance, and mining selectivity, while also contributing incremental cash flow.

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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.

Aurania Resources (AUIAF) – Making Progress at the Balangero Green Nickel Project

Posted on February 27, 2026February 27, 2026 by slightbourne@noblecapitalmarkets.com

Friday, February 27, 2026

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.

Recent assay results confirm strong nickel-cobalt grades. Aurania reported results from 28 new samples at the Balangero Nickel-Cobalt Project in northern Italy, returning nickel values between 1,560 and 2,015 parts per million (ppm) and averaging 1,763 ppm, along with 81.5 to 108 ppm cobalt and 16.2 to 146 ppm copper. These results align with more than 200 historical samples and validate the presence of awaruite, a nickel-iron alloy suitable to be used as a direct source of furnace feed for stainless steel production or processed downstream EV battery-grade nickel sulphate production. Notably, samples from development rock piles were confirmed to be asbestos-free, potentially expanding the resource base beyond tailings.

A differentiated alternative to greenfield peers. Unlike comparable awaruite-focused projects, which require full mine development, Balangero’s potential resource consists primarily of dry-stacked, pre-crushed tailings and surface rock already extracted from the ground. This eliminates the need for drilling, blasting, and underground haulage. The project benefits from electric power, rail access, highway connectivity, and an available skilled workforce, positioning it as a potentially accelerated development opportunity with significant cost advantages.

Get the Full Report

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

Release – Strengthening Europe’s Supply Chain: Aurania Updates on Balangero Nickel-Cobalt Project

Posted on February 26, 2026February 26, 2026 by aweinsoff@channelchek.com

Research News and Market Data on AUAF

February 26, 2026 7:00 AM EST | Source: Aurania Resources Ltd.

Toronto, Ontario–(Newsfile Corp. – February 26, 2026) – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) (“Aurania” or the “Company”) reports that results have been delivered from 28 samples taken across the Balangero Ni-Co Project (the “Project”) in northern Italy. The samples were assayed at Laboratoire GeoRessources – École Nationale Supérieure de Géologie, Université de Lorraine. The samples yielded between 1560 and 2015 ppm nickel (average 1763 ppm), 81.5 to 108 ppm cobalt, and 16.2 to 146 ppm copper. These new results are in line with the more than 200 historical samples taken from the site.

Aurania’s President and CEO, Dr. Keith Barron, commented, “There is a lot of historic data from Balangero, and this confirmed what was already suspected. In 1942, the Italian Government created SANI (Societá Anonima Nichelio Italiana) specifically to look for sources of nickel within Italy. At Balangero, the magnetic sand-sized fraction of the waste from asbestos beneficiation was actually recovered and used to make hardened steel for some months in 1943 for the war effort. This information has remained buried in the Archive of the City of Turin. For a variety of reasons, nickel supply has once again become critically important in Europe, and we believe Balangero offers the most readily and easily accessible source of the metal today.”

The Balangero Mine (also called San Vittorio), 30 kilometres from the city of Turin in northern Italy, produced asbestos between 1918 and 1990 and was the largest open pit asbestos mine in Europe. During 1966, the waste from the mine was thoroughly investigated as a potential by-product source of nickel and cobalt. Aurania staff became acquainted with the project while doing a literature search on their Northern Corsica Ni-Co project. The Balangero site, like Corsica, contains an abundance of the mineral awaruite, a rather rare nickel-iron natural alloy that does not contain sulphur, and can be used as a direct source of furnace feed for stainless steel production, or processed downstream for EV Battery Grade nickel sulphate. As a potential source of “Green” nickel, it certainly aligns with the stated goals of the European Union (EU) for the extraction and production of Clean Critical Metals.

Several companies are looking at the small number of awaruite occurrences as potential sources of Green Nickel and Cobalt. Among them are FPX Nickel Corp, with a market capitalization of circa $183 million CAD, and First Atlantic Nickel Corp, with a market capitalization of $27 million CAD. FPX’s project is in northern British Columbia, and First Atlantic, in Central Newfoundland. Both are greenfields projects which will require the development of open pit mines. Both have limited site infrastructure, other than a few bush roads. Aurania’s Balangero Project is essentially identical in nickel grade to FPX and First Atlantic, but with the obvious difference in projects is that the potential resource at Balangero consists of dry-stacked tailings that have already been crushed to <4 centimetres. This material has already been extracted from the ground, negating any need for drilling, blasting, tunneling and haulage from the subsurface. Moreover, there is existing electric power to the site, a railhead less than a kilometre away, a paved highway to the mine gate, and an abundant source of skilled labour nearby.

A Preliminary Economic Assessment (PEA) for the Balangero Project, in progress by SRK International Consultants, will provide an estimation of Aurania’s proposed project capex, but obviously there is no need for expensive installation of infrastructure, overburden stripping, and mining of the rock, resulting in tremendous cost savings. The Company is discussing whether to carry out a Pre-feasibility Study (PFS) before the end of 2026. Recently, a legal opinion determined that Aurania could perform Sonic Drill Sampling and Bulk Sampling on the Project under the existing permits of our MOU partner, RSA, rather than submitting lengthy environmental impact studies. This would substantially accelerate the project timetable. The Company believes the Project could be fast-tracked under the European Union’s Critical Raw Materials Act. Nickel, cobalt and copper are all considered “Strategic Raw Materials” (SRM). The 17 SRM are a subset within the designated 34 Critical Raw Materials and are mandated to be domestically sourced in the EU.

Aurania has also had confirmation from Dr. Chiara Boschi at the Institute of Geosciences and Earth Resources (IGG-CNR, Pisa, Italy) that a number of the 28 collected samples from across the Balangero Project do not contain asbestos, but all contain awaruite. These samples which were asbestos-free were taken from old development rock piles. This suggests that the potential nickel resource at Balangero will ultimately consist of both crushed tailings and broken and excavated development rock at the surface. There is no historical measurement of the volume of these rock piles, though this will be assessed in future. We expect inclusion of these development rock piles to be accretive to the Project.

Comminution tests of the Balangero tailings are still in progress at STEVAL in Nancy, France. To date, the material appears amenable to easy extraction of the awaruite and magnetite, and there have been no “red flags”. A sonic drilling programme to confirm the grades and thicknesses in the main tailings pile is being contemplated for April 2026.

Qualified Persons:
The geological information contained in this news release has been verified and approved by Aurania’s VP Exploration, Mr. Jean-Paul Pallier, MSc. 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 and abroad.

Information on Aurania and technical reports are available at www.aurania.com and www.sedarplus.ca, as well as on Facebook at https://www.facebook.com/auranialtd/, X (formerly Twitter) at https://x.com/AuraniaLtd, and LinkedIn at https://www.linkedin.com/company/aurania-resources-ltd-.

For further information, please contact:

Carolyn Muir
VP Corporate Development & Investor Relations
Aurania Resources Ltd.
(416) 367-3200
carolyn.muir@aurania.com

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) 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 if results of the MOU prove favourable, a commercial agreement is expected to be entered into with respect to the extraction of minerals from the waste piles, the assumption that the waste pile may have the potential to contain circa 229,500 tonnes of nickel, that this represents a valuable resource which has already been extracted, crushed and dry-stacked, the expectation that the evaluation of 450 kg of material will provide mineralogical characterization and other expected information about such material, the timing to produce a Scoping Level Review on the Mineral Assets of the Balangero tailings retreatment project, 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 achieve the anticipated results, incorrect assumptions made in the initial evaluation of the project, 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.

Source: Aurania Resources Ltd.

Release – First Phosphate Announces American Depositary Receipt Program Under Ticker Symbol FPHOY

Posted on February 25, 2026February 25, 2026 by slightbourne@noblecapitalmarkets.com

Saguenay, Quebec–(Newsfile Corp. – February 25, 2026) – First Phosphate Corp. (CSE: PHOS) (OTCQX: FRSPF) (OTCQX ADR: FPHOY) (FSE: KD0) (“First Phosphate” or the “Company“) is pleased to announce the launch of its sponsored Level 1 American Depositary Receipt (“ADR“) program to increase exposure to American and international investors wishing direct access to Quebec igneous phosphate and the downstream lithium iron phosphate (“LFP“) battery supply chain.

The First Phosphate ADR is now available for trading in the United States on the OTCQX market under the symbol “FPHOY” (CUSIP: 33611D301; ISIN: US33611D3017).

The First Phosphate ADR is the first Canadian Level 1 company-sponsored ADR to trade on OTC Markets. The ADR ratio is set to ten (10) First Phosphate common shares for each (1) First Phosphate ADR.

Participants may issue ADRs at no cost during the first 6 months after the effectiveness date of the program (February 12, 2026) through The Bank of New York Mellon (“BNY“) which has been appointed as depositary bank for the First Phosphate ADR program.

The new First Phosphate ADR is complimentary to all other Company listings on all other stock exchanges and does not affect the Company’s current OTCQX listed common shares under symbol “FRSPF“.

BNY facilitates the issuance and cancellation of First Phosphate ADRs in accordance with instructions received from market participants. The First Phosphate ADR program operates in accordance with a deposit agreement, filed with the United States Securities and Exchange Commission (“SEC“) and available through https://www.sec.gov/Archives/edgar/data/2108542/000101915526000028/0001019155-26-000028-index.htm. The First Phosphate common shares underlying the First Phosphate ADRs are held in custody by BNY.

The establishment of the First Phosphate ADR program is not a new offering of securities and, therefore, no additional shares are being issued nor is any capital being raised in connection with the launch of the First Phosphate ADR program. Moreover, nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities.

An ADR is a separate security denominated in US dollars that allows US investors to invest in shares of non-US companies without the need for cross-border or cross-currency transactions.

Initial Payment Received Under Long-term Offtake Agreement

The Company has now received the initial payment of USD $523,017.59 in respect of the existing, long-term phosphate concentrate offtake agreement with its existing offtake partner as announced on January 6, 2026 (https://firstphosphate.com/offtakepayment).

Options Exercise & RSU Grants

Z Six Financial Corporation, an entity controlled by Laurence W. Zeifman, Chaiman of the Board of First Phosphate, has exercised 300,000 options originally issued on September 14, 2022 and exercisable at $0.25 and 300,000 options originally issued on December 22, 2022 and exercisable at $0.35 per option.

Pursuant to an exemption granted by the Canadian Securities Exchange to Policy 6.5(7), the Company has issued 781,395 Restricted Share Units (“RSUs“) to ExpoWorld Ltd. (“ExpoWorld“), an entity controlled by John Passalacqua, CEO of First Phosphate, as consideration for the termination of 1,200,000 options held by ExpoWorld including 600,000 options originally issued on September 14, 2022 and exercisable at $0.25 per option, and 600,000 options originally issued on December 22, 2022 and exercisable at $0.35 per option (the “Options“). These vested RSUs represent the in-the-money value of the Options being terminated (calculated based on the closing price of First Phosphate shares on February 10, 2026) and serve to facilitate the cashless exercise of options while minimizing the impact that the transaction would have on the open market.

The Company also informs that Mr. Passalacqua, through ExpoWorld, made an open market purchase of 119,500 shares in the open market on January 30, 2026.

As a show of commitment to the business and alignment with shareholders, the Board and management will receive approximately 50% of their total compensation in the form of RSUs. As such, the Board has approved the grant of 1,975,000 RSUs to eligible directors, officers, consultants and employees of the Company for services to be provided for the 12-month period commencing March 1, 2026. One-half of these new RSUs will vest on August 31, 2026 and February 28, 2027, respectively. All of the common shares issuable on vesting of the RSUs will be subject to a hold period of four months plus one day from the date of vesting. The RSUs will be granted in accordance with and subject to the Company’s Omnibus Equity Incentive Plan.

About First Phosphate Corp.

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.

Media & Investor Contact:

Bennett Kurtz
Chief Financial Officer
bennett@firstphosphate.com
Tel: +1 (416) 200-0657

Investor Relations: investor@firstphosphate.com
Media Relations: media@firstphosphate.com
Website: www.FirstPhosphate.com

InPlay Oil (IPOOF) – 2026 Guidance Points to Disciplined Growth and Continued Deleveraging

Posted on February 25, 2026February 25, 2026 by slightbourne@noblecapitalmarkets.com

Wednesday, February 25, 2026

InPlay Oil is a junior oil and gas exploration and production company with operations in Alberta focused on light oil production. The company operates long-lived, low-decline properties with drilling development and enhanced oil recovery potential as well as undeveloped lands with exploration possibilities. The common shares of InPlay trade on the Toronto Stock Exchange under the symbol IPO and the OTCQX Exchange under the symbol IPOOF.

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.

2026 guidance. InPlay approved a C$66 to C$74 million capital program targeting average production of 18,600 to 19,200 boe/d (~61% light oil and NGLs), representing approximately 11% growth over the estimated 2025 production of ~17,000 boe/d. Management forecasts adjusted funds flow (AFF) of C$122 to C$129 million and free adjusted funds flow (FAFF) of C$48 to C$63 million, implying an 11% to 15% FAFF yield. Year-end net debt is guided to C$199 to C$206 million, reflecting continued deleveraging.

Estimate revisions. We have adjusted our 2026 estimates to average production of 18,900 boe/d, revenue of C$338.3 million, and AFF of C$125.2 million, or C$4.45 per share. For Q1 2026, we have assumed production of 18,605 boe/d, revenue of C$79.0 million, and AFF of C$26.6 million, or C$0.95 per share. The first quarter carries heavier drilling activity, with five wells drilled and completed, most coming onstream late in the period, marking Q1 as the lightest production quarter of the year. We forecast 2026 capital expenditures of C$70 million.

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Century Lithium Corp. (CYDVF) – Updated Angel Island Feasibility Study Highlights

Posted on February 24, 2026February 24, 2026 by slightbourne@noblecapitalmarkets.com

Tuesday, February 24, 2026

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Hans Baldau, Associate Analyst, Noble Capital Markets, Inc.

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Updated feasibility study. Century released the results of its 2026 NI 43-101 feasibility study for the 100%-owned Angel Island Lithium Project in Esmeralda County, Nevada. The updated study reflects engineering optimization and improvements that materially strengthen the project’s economic profile and highlight Angel Island as one of the most significant and economically robust sedimentary lithium developments in the United States.

Lower initial capital expenditures. Phase I initial capital expenditures are estimated to be $997 million, a significant reduction from the $1.5 billion outlined in the 2024 Study. The updated study streamlines development into a two-phase approach. Phase I contemplates 7,500 tonnes per day (tpd) of mill feed, expanding to 15,000 tpd in Phase II beginning in Year 5. Phase II expansion capital is estimated at $660 million. A previously planned third expansion phase has been eliminated, lowering overall capital requirements. The economic analysis is based on a 40-year production schedule, with planned life-of-mine average production of 26,500 tonnes per annum of battery-grade lithium carbonate.

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Power Metallic Mines Inc. (PNPNF) – Recent Assay Results and Observations from the Summer-Fall 2025 Drilling Program

Posted on February 19, 2026February 19, 2026 by slightbourne@noblecapitalmarkets.com

Thursday, February 19, 2026

Power Metallic is a Canadian exploration company focused on advancing the Nisk Project Area (Nisk–Lion–Tiger)—a high–grade Copper–PGE, Nickel, gold and silver system—toward Canada’s next polymetallic mine. On 1 February 2021, Power Metallic (then Chilean Metals) secured an option to earn up to 80% of the Nisk project from Critical Elements Lithium Corp. (TSX–V: CRE). Following the June 2025 purchase of 313 adjoining claims (~167 km²) from Li–FT Power, the Company now controls ~212.86 km² and roughly 50 km of prospective basin margins. Power Metallic is expanding mineralization at the Nisk and Lion discovery zones, evaluating the Tiger target, and exploring the enlarged land package through successive drill programs. Beyond the Nisk Project Area, Power Metallic indirectly has an interest in significant land packages in British Columbia and Chile, by its 50% share ownership position in Chilean Metals Inc., which were spun out from Power Metallic via a plan of arrangement on February 3, 2025. It also owns 100% of Power Metallic Arabia which owns 100% interest in the Jabul Baudan exploration license in The Kingdon of Saudi Arabia’s JabalSaid Belt. The property encompasses over 200 square kilometres in an area recognized for its high prospectivity for copper gold and zinc mineralization. The region is known for its massive volcanic sulfide (VMS) deposits, including the world-class Jabal Sayid mine and the promising Umm and Damad deposit.

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.

Expanding the High-Grade Core at Lion. Summer-Fall 2025 drilling successfully extended high-grade mineralization down plunge at the Lion Zone, with impressive intercepts including 8.40 meters grading 8.05% copper equivalent recovered, and 5.10 meters grading 9.86% copper equivalent recovered, reinforcing strong vertical continuity.

Precious Metals Significantly Enhance Value. Assays revealed substantial palladium, platinum, and gold contributions, materially boosting copper-equivalent grades and highlighting the robust polymetallic nature of the deposit.

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Release – Power Metallic Intercepts 20.40 Meters of 4.11% CuEqRec in Hole 25-046, and 8.60 Meters of 6.84% CuEqRec in Hole 25-045 at Lion

Posted on February 18, 2026February 18, 2026 by aweinsoff@channelchek.com

Research New and Market Data on PNPNF

Feb 18, 2026, 09:18 ET

TORONTO, Feb. 18, 2026 /CNW/ – Power Metallic Mines Inc. (the “Company” or “Power Metallic”) (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV1) is pleased to provide a release of assays from its fall drill program

Summer-Fall Drilling Release 4 – Lion

Figure 1 – Lion Drill holes reported in this news release, with off-hole BHEM anomalies from recent drilling (see Lion- Tiger Deep discussion below) (CNW Group/Power Metallic Mines Inc.)

Figure 2 – Exploration target areas currently being explored on the Nisk Project. (CNW Group/Power Metallic Mines Inc.)

The summer-fall 2025 drilling program was designed to search for extensions to the Lion Zone, specifically down plunge from known mineralization, and to infill drilling the Lion deposit to define the zone geometry to a confidence level that would allow a future mineral resource estimate to be carried out to an Indicated Resource classification.

As assay results are returned from this exploration drilling, they have continued to successfully define the Lion mineralization. The holes in this release are extensions down-plunge from high-grade shoots that are internal to the Lion zone for future MRE modelling. Drilling reported here intersected mineralization below the central high-grade zone of Lion, including a high-grade palladium-platinum-gold-copper intersection of 8.40m @ 8.05% CuEqRec¹included within 20.40m @ 4.11% CuEqRec¹in hole PML-25-046; and 5.10m @ 9.86% CuEqRec¹included in 8.60m of 6.34% CuEqRec¹in hole PML-25-045.

Highlighting the polymetallic nature of Lion the reported results from hole PML-25-046 was expected to be a relatively low-grade hole based on initial observations based on the amount of copper mineralization in the core (veins, stringers, and disseminations). Subsequently the assay results indicated that the 20.4m of moderate copper mineralization (0.88% Cu) carried high values of Pd (5.01 g/t) as well as Pt and Au. Power Metallic is now developing logging procedures to help identify these higher-grade precious metal zones that form part of this orthomagmetic polymetallic deposit.

Extensional intersections on the west side of Lion included 7.66m @ 2.69% CuEqRec¹in hole PML-25-34a, again with significant metal value carried by Pd-Pt. These holes have largely confirmed the grade of the Lion zone as well as increasing the size of the interpreted higher-grade lodes.

Hole PML-25-036 is approximately 150m west of the main Lion zone. This intersection is indicative of another lens of polymetallic mineralization west of Lion and will be followed up by future drilling to expand this zone.

Table 1 – Lion Zone Intersections reported in this News Release

¹Copper Equivalent Rec Calculation (CuEqRec¹)
CuEqRec in represents CuEq calculated based on the following metal prices (USD) : 2,360.15 $/oz Au, 27.98 $/oz Ag, 1,215.00 $/oz Pd, 1000.00 $/oz Pt, 4.00 $/lb Cu, 10.00 $/lb Ni and 22.50 $/lb Co., and recovered grades based on recent locked-cycle metallurgical recoveries by SGS Canada Inc (see press release Jan 21, 2026).

“We have made a lot of progress on the Lion Zone. The continuity and growth of the higher-grade core of Lion zone with in-fill drill holes (MRE holes), coupled with our amazing metal recovery numbers that we reported a couple of weeks ago puts us in great shape to ramp up exploration this year. Commented Power Metallic Ceo Terry Lynch

Exploration Update

Power Metallic is expecting to receive the balance of the fall drill holes within the month of February. It will provide a detailed update on the exploration the company is conducting on Lion West, The Hydro lands, Tiger Deep and the Elephant exploration plays as well as initial exploration on the Li-FT acquisition ground. In addition, there will be further updates on the Lion Zone East expansion drilling following the recently recognized high grade east plunging mineralization structures extending from the Lion main zone.

Qualified Person

Joseph Campbell, P. Geo, VP Exploration at Power Metallic, is the qualified person who has reviewed and approved the technical disclosure contained in this news release.

About Power Metallic Mines Inc.

Power Metallic is a Canadian exploration company focused on advancing the Nisk Project Area (Nisk–Lion–Tiger)–a high–grade Copper–PGE, Nickel, gold and silver system–toward Canada’s next polymetallic mine.

On 1 February 2021, Power Metallic (then Chilean Metals) secured an option to earn up to 80% of the Nisk project from Critical Elements Lithium Corp. (TSX–V: CRE). Following the June 2025 purchase of 313 adjoining claims (~167 km²) from Li–FT Power, the Company now controls ~212.86 km² and roughly 50 km of prospective basin margins.

Power Metallic is expanding mineralization at the Nisk and Lion discovery zones, evaluating the Tiger target, and exploring the enlarged land package through successive drill programs.

Beyond the Nisk Project Area, Power Metallic indirectly has an interest in significant land packages in British Columbia and Chile, by its 50% share ownership position in Chilean Metals Inc., which were spun out from Power Metallic via a plan of arrangement on February 3, 2025.

It also owns 100% of Power Metallic Arabia which owns 100% interest in the Jabul Baudan exploration license in The Kingdon of Saudi Arabia’s JabalSaid Belt. The property encompasses over 200 square kilometres in an area recognized for its high prospectivity for copper gold and zinc mineralization. The region is known for its massive volcanic sulfide (VMS) deposits, including the world-class Jabal Sayid mine and the promising Umm and Damad deposit.

For further information, readers are encouraged to contact:
Power Metallic Mines Inc.
The Canadian Venture Building
82 Richmond St East, Suite 202
Toronto, ON

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

QAQC and Sampling

GeoVector Management Inc (“GeoVector”) is the Consulting company retained to perform the actual drilling program, which includes core logging and sampling of the drill core.

All samples were submitted to and analyzed at Activation Laboratories Ltd (“Actlabs”), an independent commercial laboratory for both the sample preparation and assaying. Actlabs is a commercial laboratory independent of Power Metallic with no interest in the Project. Actlabs is an ISO 9001 and 17025 certified and accredited laboratories. Samples submitted through Actlabs are run through standard preparation methods and analysed using RX-1 (Dry, crush (< 7 kg) up to 80% passing 2 mm, riffle split (250 g) and pulverize (mild steel) to 95% passing 105 μm) preparation methods, and using 1F2 (ICP-OES) and 1C-OES – 4-Acid near total digestion + Gold-Platinum-Palladium analysis and 8-Peroxide ICP-OES, for regular and over detection limit analysis. Pegmatite samples are analyzed using UT7 – Li up to 5%, Rb up to 2% method. Actlabs also undertake their own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibr

Gold Plunges in Sudden Selloff as Investors Scramble for Liquidity

Posted on February 13, 2026February 13, 2026 by slightbourne@noblecapitalmarkets.com

Gold tumbled sharply Thursday in a sudden wave of selling that swept across financial markets, as traders liquidated metal positions to cover mounting losses in equities. The sharp decline underscores how even traditional safe-haven assets can be caught in broader risk-off moves when volatility spikes.

Bullion fell as much as 4.1% during the session before trimming some losses, while silver plunged as much as 11% in one of its steepest drops in recent memory. Copper also slid, declining nearly 3% on the London Metal Exchange. The move came amid renewed pressure on U.S. technology stocks, where concerns resurfaced about whether massive artificial intelligence investments will generate the expected returns.

As equity markets weakened, some investors were forced to raise cash quickly. In moments of intense stress, even defensive assets such as gold can be sold to meet margin calls or offset losses elsewhere. Rather than serving purely as a haven, gold briefly became a source of liquidity.

The speed of the decline suggested systematic and momentum-driven selling. Analysts noted that algorithmic strategies and commodity trading advisors likely accelerated the drop as key technical levels gave way. Such strategies often amplify moves in either direction, particularly when market sentiment shifts abruptly.

Part of Thursday’s pressure also stemmed from profit-taking. Gold and silver have been on a powerful rally since 2024, with momentum-driven buying pushing both metals to repeated record highs. That advance stalled abruptly late last month, when gold posted its largest one-day drop in more than a decade and silver recorded a historic plunge. Since then, both metals have traded in a volatile but relatively tight range, lacking fresh catalysts to sustain the upward momentum.

The latest decline does not necessarily signal the beginning of a sustained downtrend. Instead, it highlights heightened volatility in a market where positioning had become crowded. When sentiment-driven trades unwind, price swings can be exaggerated.

Despite the recent rout, many major banks remain bullish on gold’s longer-term outlook. Analysts continue to point to structural drivers that supported the earlier rally, including persistent geopolitical tensions, concerns about central bank independence, and a broader shift by some investors away from traditional assets such as currencies and sovereign bonds. Several institutions maintain ambitious year-end targets for bullion, arguing that underlying demand remains intact.

Silver faced additional pressure from options-related activity tied to the iShares Silver Trust, the world’s largest silver exchange-traded fund. Investors who had previously accumulated bullish positions near recent highs were seen selling contracts, potentially intensifying downside momentum.

Market participants are now turning their attention to upcoming U.S. economic data, including core consumer price figures, for signals about the Federal Reserve’s interest-rate trajectory. Precious metals typically benefit from lower borrowing costs, as they do not offer interest payments and tend to compete with yield-bearing assets.

By early afternoon in New York, spot gold was down nearly 3% at $4,938.38 an ounce. Silver had dropped more than 9% to $76.34, while platinum and palladium also declined. The Bloomberg Dollar Spot Index edged slightly higher.

The episode serves as a reminder that in periods of extreme market stress, no asset class is immune from volatility. Even gold, long regarded as a financial safe haven, can fall sharply when liquidity becomes the priority.

InPlay Oil (IPOOF) – Updating 2025 Estimates; Bond Offering Completed

Posted on February 12, 2026February 12, 2026 by slightbourne@noblecapitalmarkets.com

Thursday, February 12, 2026

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.

Q4 2025 Estimate Revisions. We are adjusting Q4 estimates to reflect softer commodity pricing, with WTI averaging $59.10 per barrel versus our prior $60.00 estimate and wider differentials reducing realized Canadian pricing. We are lowering our revenue, adjusted funds flow (AFF), and AFF per share estimates to C$80.7 million, C$29.1 million, and C$1.04, respectively, from C$88.8 million, C$35.8 million, and C$1.28. Our production estimate remains unchanged at 19,419 boe/d.

FY 2025 Estimate Revisions. We are modestly lowering our full-year revenue, AFF, and AFF per share estimates to reflect lower fourth-quarter estimates. We now forecast revenue of C$290.6 million, AFF of C$112.9 million, and AFF per share of C$4.58, down from C$298.7 million, C$119.5 million, and C$4.85, respectively. Our outlook continues to assume average 2025 production of approximately 17,000 boe/d. We will update our 2026 estimates following the release of InPlay’s 2026 guidance.

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Aurania Resources (AUIAF) – A Growing Portfolio of Precious Metals and Critical Mineral Projects

Posted on February 11, 2026February 11, 2026 by slightbourne@noblecapitalmarkets.com

Wednesday, February 11, 2026

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.

Advancing a multi-project portfolio. Aurania is advancing two projects in France: a gold exploration project in Brittany and a nickel recovery project in Corsica. Aurania is also evaluating the recovery of nickel and cobalt from the waste tailings of the former Balangero asbestos mine near Turin, Italy. The projects in Corsica and Italy offer significant environmental benefits for the nearby communities, along with the economic benefit of recovering valuable critical metals. In Ecuador, the company is having productive discussions with government officials to advance its project while pursuing potential strategic partnerships.

Exploration Licenses in Brittany. Aurania, through a wholly owned French subsidiary, was granted three exploration licenses for polymetallic metals, including gold, in the Brittany Peninsula of northwestern France. The three license areas, Epona, Taranis, and Belenos, are in southern Brittany and northern Pays de la Loire in France. Aurania is in the process of identifying all the landowners to seek their support for exploration.

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