Category: Natural Resources

Power Metallic Mines Inc. (PNPNF) – Deep Drilling Extends Lion Zone at Depth

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Wednesday, September 30, 2026

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

Refer to the full report for the price target, fundamental analysis, and rating.

Deep drilling expands the Lion Zone. Power Metallic recently released new drill results that extend the known depth of the Lion Zone, with Hole PML-26-125 intersecting 5.70 meters grading 14.00% copper equivalent recovered (CuEqRec) at nearly 800 meters vertical depth. The intercept was drilled roughly 150 meters below the previous deepest high-grade hole and lies well beneath the limits of the recently announced mineral resource estimate, providing additional evidence that Lion remains open at depth.

Grades remain strong below the current resource. Hole PML-26-125 returned 11.42% copper within the broader 5.70-meter interval, including 2.15 meters grading 24.62% CuEqRec and 20.30% copper. A second hole, PML-26-121a, intersected 7.70 meters grading 3.28% CuEqRec, including 1.70 meters at 11.93% CuEqRec. Together, the results suggest that high-grade copper-platinum group elements (PGE) mineralization continues below the current resource envelope rather than tapering out at depth.


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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. 

Metals & Mining Industry Report – Observations from the 2026 Precious Metals Summit

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Monday, September 28, 2026

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

Refer to the full report for the price target, fundamental analysis, and rating.

Precious Metals Summit. We attended the Precious Metals Summit last week at the Beaver Creek Resort in Colorado. While strong increases in metal prices led to exceptional investment returns in 2025, returns have moderated in 2026. Year-to-date through September 25, mining companies (as measured by the XME) appreciated 4.6% compared to a gain of 13.1% for the S&P 500 Index. The VanEck Vectors Gold Miners (GDX) and Junior Gold Miners (GDXJ) ETFs were up 8.3% and 6.4%, respectively. While metals prices remain strong, gold, silver, nickel, and lead prices have retreated modestly since the end of last year, while copper and zinc prices have continued to advance. While rising rate expectations may pose a headwind for gold, an uncertain geopolitical environment and other factors may provide an offset.

Investors are more discerning. Sentiment remains constructive, supported by strong metals prices, robust industry cash flows, and continued institutional interest in the sector. Conference participation was strong, including executive teams from over 225 mining companies and a broad mix of institutional investors, sell-side brokerage firms, and other industry participants. Investors appear to be increasingly focused on companies with scale, grade, strong metallurgy, manageable capital requirements, and an identifiable path for converting exploration success into economic value. 


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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 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. 

Junior Mining Consolidation Isn’t Coming. It’s Already Underway

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The Artemis Gold acquisition of Vista Gold we covered earlier this week wasn’t an isolated event. It was one data point in what industry data increasingly confirms is a genuine, extended wave of consolidation sweeping through the junior and intermediate mining sector, and the drivers behind it suggest this cycle has real staying power rather than representing a short-term spike.

The numbers tell a clear story. Global mining M&A totaled roughly $93.7 billion in completed deals during 2025, and gold and silver assets alone accounted for more than 77% of total deal volume in early 2026. The list of major transactions reads like a sector-wide roll-up already in progress, Gold Fields acquiring Gold Road Resources for approximately $2.4 billion, Northern Star Resources buying De Grey Mining for roughly $3.3 billion, Equinox Gold’s $2.8 billion purchase of Calibre Mining, Coeur Mining’s $1.7 billion acquisition of SilverCrest Metals, and Pan American Silver’s $2.1 billion takeover of MAG Silver. Mining stocks claimed a record 60% of the spots on this year’s TSX30, the annual ranking of Canada’s top-performing stocks, a genuinely striking signal of where investor capital has been flowing.

Three forces are converging to drive this cycle, and each appears structural rather than cyclical. First, reserve depletion. Major producers spent much of the 2010s underinvesting in exploration during a prolonged bear market, and many are now confronting genuinely thinning production pipelines that organic exploration alone cannot refill quickly enough. Acquiring juniors with already-defined, advanced-stage resources is simply faster than starting from scratch. Second, sustained strength in gold and silver prices has given larger producers the cash flow and equity currency to pursue acquisitions, while depressed valuations among smaller developers following years of underperformance have made those same juniors attractively priced targets. Third, and increasingly important, critical minerals supply security has become an explicit policy priority, with roughly a third of surveyed industry executives specifically expecting consolidation in this category as governments and producers alike race to secure supply chains independent of Chinese dominance, a theme we detailed closely when covering the Greenland security agreement earlier this year.

Industry analysts point to a fairly consistent profile among likely takeover targets, advanced-stage resources located in stable, Tier-1 mining jurisdictions, high-grade or district-scale potential, reasonable valuations following recent market corrections, and experienced management teams with a track record of either developing or successfully exiting projects.

That profile is worth keeping in mind when evaluating smaller companies in this space. Junior developers advancing resources in favorable jurisdictions such as Century Lithium, working a lithium project in Nevada, Kuya Silver, developing precious metals assets in Peru, Tectonic Metals, advancing gold exploration in Alaska, and Power Metallic Mines, exploring nickel and copper deposits in Quebec, all sit in exactly the category this consolidation wave has been targeting, smaller companies with defined, advanced-stage projects in stable jurisdictions that larger, cash-generative producers are actively seeking to acquire.

None of this guarantees any individual company becomes a takeover target, and early-stage mining developers carry substantial execution, financing, and geological risk regardless of broader sector M&A trends. But the structural case for continued consolidation, depleted major-producer pipelines, strong commodity prices, and mounting critical minerals policy pressure, looks considerably more durable than a passing trend.

Take a moment and take a look at more small cap mining companies by taking a look at Noble Capital Markets’ Analyst Mark Reichman’s coverage list.

Oil Just Fell to a Two-Week Low. Saudi Arabia and Iraq Are Quietly Rerouting Around the Strait of Hormuz

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Oil prices extended a six-session decline Wednesday, with Brent crude falling to $98.16 a barrel and West Texas Intermediate dropping to $89.01, both settling at roughly two-week lows. Brent closed below $100 a barrel Tuesday for the first time since September 8, a notable reversal after weeks of escalation-driven price spikes that we’ve tracked closely throughout this conflict.

Two forces are driving the decline, and both matter for understanding where oil heads next. The first is diplomatic. President Trump warned Tuesday that the US could take severe action against Iran, while simultaneously saying his envoys had held productive talks with Iranian mediators in New York and describing real momentum toward reaching a deal to end the nearly seven-month war. Markets appear to be choosing to price in the possibility of talks succeeding, even amid continued tough rhetoric on both sides.

The second, more concrete factor is supply, and it’s arguably the more important development. Saudi Arabia restarted its East-West Pipeline to the Red Sea on Tuesday, a route that reroutes roughly 4 million barrels per day, about 4% of global oil supply, around the Strait of Hormuz entirely. The pipeline had been shut since September 11 following drone attacks Saudi Arabia has blamed on Iraqi militia forces. Saudi Arabia is also now offering additional barrels to Asian refiners for pickup outside the strait altogether. Iraq is following a similar playbook, with its oil minister confirming exports have climbed above 3 million barrels per day and stating the country expects to boost shipments routed through Turkey to more than 600,000 barrels per day. Shiptracking data shows Iraqi exports climbing in August from July’s levels, though they still remain below the roughly 3.4 to 3.7 million barrel per day pace seen before the war began.

Adding further downward pressure, industry data released Tuesday showed US crude inventories rose by 1.8 million barrels last week, catching analysts off guard, who had broadly expected a decline.

For investors tracking the small and microcap space, this shift is worth watching closely, and it cuts in the opposite direction from what we detailed when covering diesel’s all-time high and the broader oil surge earlier this month. Consumer-facing companies in transportation, logistics, and hospitality, squeezed hard by the run-up in fuel costs, stand to benefit if this decline holds and extends toward the pump, a group that includes companies like Commercial Vehicle Group, a supplier to the trucking industry, and The ONE Group Hospitality, a restaurant operator directly exposed to consumer discretionary spending. Domestic energy producers, conversely, face renewed margin pressure as prices retreat from the highs that supported their economics all summer, a dynamic worth watching for companies like InPlay Oil and Alliance Resource Partners. Whether this reversal proves durable likely depends on whether the diplomatic momentum Trump described translates into an actual agreement, or whether these alternative supply routes simply prove temporary workarounds to a conflict still very much unresolved.

Century Lithium Corp. (CYDVF) – Advancing Plans for a Stand-Alone Merchant Chlor-Alkali Plant

Posted on by [email protected]


Wednesday, September 23, 2026

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

Refer to the full report for the price target, fundamental analysis, and rating.

Advancing a merchant chlor-alkali plant. Century Lithium plans to develop a commercial-scale chlor-alkali plant in the Western United States that would produce chlorine, hydrochloric acid, and sodium hydroxide from sodium chloride, water, and electricity. The plant is expected to initially produce at a rate of 300 short tons per day (st/d) of chlorine, with potential expansion to 600 st/d depending on regional demand and the supply needs of Angel Island.

Early offtake interest provides commercial support. Century has signed eight non-binding Memorandums of Understanding (MOUs) that could collectively fully utilize the plant’s initial production, while discussions with additional customers are ongoing. The company is evaluating sites in Nevada and Utah based on power, feedstock, rail access, permitting, and proximity to customers, with final site selection expected following completion of due diligence.


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Release – Power Metallic Extends Lion 25% Deeper as Power Metallic Intercepts 5.70 Meters of 14.00% CuEqRec¹ in Hole 26-125

Posted on by [email protected]

Research News and Market Data on PNPF

Sep 22, 2026

TORONTO, Sept. 22, 2026 – Power Metallic Mines Inc. (the “Company” or “Power Metallic”) (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV1) is pleased to provide the first assays of extensional deep drilling of assay results from its Summer 2026 drill program. Prior to the summer drill program drilling concentrated on improving the density of drill intercepts for the recently announced MRE to increase the confidence of modelling Lion, particularly within the range of a potential future open pit, and to bring the vast majority of the known deposit as of the end of the winter program (end April 2026) to Drill Indicated category.

For the summer drill program Power Metallic has carried out widely spaced exploration drilling on geological and geophysical (EM) targets and more importantly begun a program of extending the Lion deposit to depth below the outline of the MRE model. The two holes reported here are the first assays to be completed on this deep drilling.

Hole PML-26-125 is the deepest assay results to date at Lion at a vertical depth of nearly 800m vertical depth, well below the current MRE. Prior to Hole PML-26-125 The deepest reported hole intersecting the core of the Lion shoot to date (PML-25-002) intersected 1.95 metres at 7.95% CuEqRec* at approximately 610 metres vertical depth. This hole was targeted on the projected center of the Lion plunge approximately 150m below the previous deepest hole and intersected 5.7m of massive to semi-massive copper sulphides (Table 1). An earlier drill hole, PML-26-121a targeted the western side of the projected plunge of Lion at a vertical depth of nearly 650 meters and intersected disseminated to semi-massive copper sulphides. A subsequent hole (PML-26-128) tested the eastern side of the interpreted Lion plunge at nearly 900 meters vertical depth, showing disseminated and massive veinlets of copper sulphides, with assays pending (Figure 1). All three of these holes firmly established that the Lion deposit continues at depth and has not been fully delineated.

Table 1: Lion Results – Summer 2026
HoleFromToLengthAuAgCuPdPtNiCuEq Rec*
(m)(m)(m)(g/t)( g/t )( %)(g/t)(g/t )( %)( %)
PML-26-121a666.30674.007.700.2618.421.033.700.280.143.28
Including666.30671.004.700.3528.371.516.450.450.144.92
Including666.30668.001.700.6672.413.3416.251.210.1611.93
PML-26-125845.80851.505.700.3061.5711.422.480.260.4114.00
Including846.70848.852.150.5592.0420.304.720.510.6024.62
1Copper Equivalent Rec Calculation (CuEqRec1)
CuEqRec 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, 2006).
2 Reported length is downhole distance; true width based on model projections is estimated as 85% of downhole length
Figure 1 – Lion Deep Drill holes reported in this news release overlain on Lion zone MRE models (X-Section) and MRE block model (Long Section) with hole locations related to potential plunge extension below MRE models)
Figure 1 – Lion Deep Drill holes reported in this news release overlain on Lion zone MRE models (X-Section) and MRE block model (Long Section) with hole locations related to potential plunge extension below MRE models)

Power Metallic is expecting more assay results from the Lion deep drilling and regional exploration in the weeks to come.

Terry Lynch, CEO of Power Metallic, commented:
We are in the unique position due to the high grade and near surface nature of our project to advance development of what the world needs in Critical Minerals, namely Copper and PGEs, but also continue our multifaceted exploration approach to allow the resource to grow substantially between now and the end of 2027. Today’s results pushed us over 25% deeper than the deepest hole used in our recently announced MRE and it did so with significantly higher grades. We have visibility down over 50% deeper and visibly it looks like we are still in the Lion Zone. As we have seen with the great hit Talon Metals recently had deposits can get thicker and richer at depth. The blessing in Lion is our mineralization starts at surface and extends down making it very economic to mine and explore. We are excited to get back to exploration!

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 ~330 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 Jabal Said 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 core in this news release is either HQ or NQ sized core. Drill core is re-fitted and measured. Geotech on core includes photographs (wet & dry), rock quality index, magnetic susceptibility, conductivity, and recovery estimates. Core is logged for lithology, mineralogy, and structural features, and sample intervals are delineated and tagged.

Sampled core is mechanically sawn, and half-core is retained for future reference. GeoVector’s QAQC program includes regular insertion of CRM standards, duplicates, and blanks into the sample stream with a stringent review of all results. QAQC and data validation was performed, and no material errors were observed.

All samples were submitted to and analyzed at Activation Laboratories Ltd (“Actlabs”), 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 calibration.

Cautionary Note Regarding Forward-Looking Statements

This message contains certain statements that may be deemed “forward-looking statements” concerning the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential,” “indicates,” “opportunity,” “possible” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. 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, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, among others; the timing for various drilling plans; the ability to raise sufficient capital to fund its obligations under its property agreements going forward and conduct drilling and exploration; to maintain its mineral tenures and concessions in good standing; to explore and develop its projects; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations; future prices of nickel and other metals; changes in general economic conditions; accuracy of mineral resource and reserve estimates; the potential for new discoveries; the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if accepted, to obtain such licenses and approvals in a timely fashion relative to the Company’s plans and business objectives for the applicable project; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company’s operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry.

Release – Century Lithium Advances Plans for Chlor-Alkali Plant

Posted on by [email protected]
Century Lithium

Research News and Market Data on CYDVF

Plans Support Critical Minerals Supply Chain and Company’s Angel Island Lithium Project;
Eight Offtake MOUs Signed for Chlor-Alkali Products

September 22, 2026 – Vancouver, Canada – Century Lithium Corp. (TSXV: LCE) (OTCQX: CYDVF) (Frankfurt: C1Z) (“Century Lithium” or “the Company”) is pleased to announce its plans to develop a commercial-scale chlor-alkali plant (“CA Plant”). The CA Plant is intended to support the critical and strategic minerals supply chain in the Western United States and the Company’s 100%-owned Angel Island Lithium Project (“Angel Island” or the “Project”) in Esmeralda County, Nevada, USA, currently in the permitting phase.

“In the course of our work on Angel Island, Century Lithium identified chlor-alkali products as a fundamental component of the critical minerals supply chain,” said Bill Willoughby, President and CEO of Century Lithium. “We also recognized a regional opportunity in the Western U.S. for a plant producing these products. The proposed CA Plant has the potential to generate revenue on its own, train an operating team and reduce future reagent supply risk to Angel Island. Century Lithium has evaluated a number of potential sites for the CA Plant in Nevada and Utah that could meet its criteria for proximity to infrastructure and resources and expects to finalize a selection shortly. The Company has obtained non-binding offtake interest for production from the CA Plant from a number of companies and is actively pursuing project-level financing.”

Highlights

  • Chlor-alkali products are essential inputs across the critical minerals supply chain, supporting lithium and battery-materials processing, rare earth element separation, and precious and specialty metals production, in addition to broader industrial and household uses.
  • The proposed CA Plant would produce chlorine, hydrochloric acid and sodium hydroxide from sodium chloride, water and electricity, at a target commercial production rate of 300 short tons per day (“st/d”) of chlorine, with provision to double capacity to 600 st/d depending on regional demand and the supply needs of Angel Island.
  • Century Lithium has entered into eight non-binding Memoranda of Understanding (“MOU”) with third parties for offtake arrangements that could collectively account for the full initial production of the proposed CA Plant.
  • Candidate sites in Nevada and Utah were evaluated against feedstock, power, rail access, market proximity, land tenure, and permitting criteria.
  • The proposed CA Plant would use modern, proven technology in a location favorable for infrastructure development.
  • Site due diligence is underway; the next step will be securing project-level financing to fund property acquisition, front-end engineering and design (“FEED”) and permitting of the selected site.

Site Selection

The Company is in the process of selecting the preferred site for the CA Plant out of a number of candidate sites which included a combination of private industrial land, state land, and federally controlled land available under lease.

The site selection process has considered internal engineering and economic work and studies addressing equipment selection, power, water and sodium chloride supply, CA product handling and comparative site economics.

Relation to Angel Island

The Feasibility Study for Angel Island (Updated NI 43-101 Technical Report on the Feasibility of the Clayton Valley Lithium Project, Esmeralda County, Nevada, USA, January 3, 2026) includes an on-site chlor-alkali plant as the base case for the Project. The capital and operating estimates disclosed in the Feasibility Study are unchanged by this announcement. The proposed CA Plant in this announcement does not replace that facility, and none of its cost is added to Angel Island.

The economics of the proposed CA Plant are based solely on internal study and the assumption of commercial sales of all chlor-alkali products to third-party customers. No revenue, cost saving or capital credit associated with Angel Island is included in them, and the CA Plant is intended to be financed at the project level.

The supply of reagents from the proposed CA Plant to Angel Island would depend on the economics of transportation still to be determined. Century Lithium views the proposed CA Plant as a self-funding first step toward Angel Island rather than a change in the Company’s lithium strategy.

Offtake and Commercial Arrangements

Century Lithium has entered into eight non-binding MOUs with companies in various industrial and chemical sectors in the Western U.S. to supply them with chlorine, hydrochloric acid, and sodium hydroxide produced by the proposed CA Plant. The Company is also in discussions with other prospective purchasers of these products.

Project Financing

Century Lithium intends to finance the proposed CA Plant through non-dilutive financing at the project level. The capital structure under evaluation contemplates a combination of vendor financing associated with site acquisition, institutional preferred equity, prepayments and similar support from offtake counterparties, and non-dilutive United States government programs that may be available to domestic critical minerals and industrial capacity. The Company has engaged financial advisors and has commenced consultations with United States government financing agencies. Land acquisition and front-end engineering are expected to be funded first, with construction financing arranged following completion of FEED and definitive offtake agreements.

Century Lithium’s objective in structuring the proposed CA Plant separately is to fund it with capital appropriate to an industrial chemical asset with anticipated offtake, and to limit dilution to shareholders of Century Lithium. No financing has been secured at this time, and no definitive agreements have been entered into, and there is no assurance that financing will be available on acceptable terms or at all.

Next Steps

Due diligence is underway and includes property negotiations, project-level funding, and investigation of power supply terms with the serving utility, salt feedstock and transportation, water rights, land tenure and title, environmental condition, and the permitting pathway. Once the preferred site is selected and secured, the Company intends to advance the preferred site to FEED with a qualified engineering, procurement and construction contractor and to commence permitting, while continuing discussions with prospective commercial counterparties and sources of project financing. Long-lead electrical equipment is a recognized schedule constraint for United States chlor-alkali projects, and the Company is evaluating equipment sourcing in parallel with site selection.

ABOUT CENTURY LITHIUM CORP.

Century Lithium Corp. is an advanced-stage lithium development company focused on its 100%-owned Angel Island Lithium Project in Esmeralda County, Nevada. Angel Island hosts one of the largest known sedimentary lithium deposits in the United States and is designed with an integrated, end-to-end process to produce battery-grade lithium carbonate on-site to support the electric vehicle and battery storage markets.

The Company has developed a patent-pending process that incorporates hydrochloric acid leaching combined with direct lithium extraction to produce battery-grade lithium carbonate. As part of the integrated chlor-alkali process, Angel Island is designed to produce sodium hydroxide as a co-product, with planned surplus sales expected to lower operating costs, reduce reliance on externally sourced reagents, and minimize environmental impacts.

Century Lithium is currently advancing Angel Island through the permitting process.

Century Lithium trades on the TSX Venture Exchange under the symbol “LCE” the OTCQX under the symbol “CYDVF” and on the Frankfurt Stock Exchange under the symbol “C1Z”.

To learn more, please visit centurylithium.com.

ON BEHALF OF CENTURY LITHIUM CORP.

WILLIAM WILLOUGHBY, PhD, PE
President & Chief Executive Officer
For further information, please contact:
Spiros Cacos | Vice President, Investor Relations
Direct: +1 604 764 1851
Toll Free: 1 800 567 8181
[email protected]
centurylithium.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Cautionary Note Regarding Forward-Looking Statements

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 of a chlor-alkali plant, site selection, anticipated capacity and product slate, regional supply and demand conditions, and the intended financing structure and sources for the chlor-alkali plant, the anticipated benefits of the plant to the Angel Island Lithium Project, and anticipated engineering, permitting and financing activities and their timing. Forward-looking statements are based on assumptions management considers reasonable, including as to the availability of a suitable site, power, feedstock, permits, equipment and financing on acceptable terms, and as to regional demand. Actual results may differ materially. The Company has not made a construction decision, has not secured a site, and there is no assurance that any plant will be developed or that any memorandum of understanding will result in a definitive agreement. Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update them except as required by law.

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 found under the Company’s profile at www.sedarplus.ca. 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.

Greenland Stocks Doubled Today. The Rare Earths Aren’t Here Yet

Posted on by [email protected]

Shares of several US-listed companies with exposure to Greenland exploded higher Monday after the United States, Denmark, and Greenland reached an agreement on expanded American security arrangements on the Arctic territory. Greenland Energy surged more than 165% in premarket trading, Greenland Mines climbed over 110%, and Critical Metals Corp rose nearly 30%. The moves reflect genuine excitement about what this agreement could eventually unlock, though the timeline and feasibility of actually extracting Greenland’s mineral wealth remain far less certain than the stock charts suggest.

The framework, announced September 18 and expected to be formally signed this week during the United Nations General Assembly, expands US defense construction rights on the island, granting Washington unilateral authority to build and expand military infrastructure without case-by-case approval from Copenhagen or Nuuk. It also guarantees permanent basing, transit, and overflight rights, while formally restricting adversary nations, specifically China and Russia, from establishing military positions or making what the agreement calls sensitive investments, a provision that appears squarely aimed at critical minerals and mining. Importantly, Greenland’s sovereignty remains fully with the Kingdom of Denmark under the deal, and the agreement still requires parliamentary approval before taking effect, meaning this is a framework, not yet a finalized, binding arrangement.

The strategic logic is straightforward on paper. Greenland sits on substantial untapped reserves of rare earth elements, the materials essential to defense systems, electric vehicles, and advanced electronics, and a security agreement that locks out Chinese and Russian involvement positions the island as a potential Western alternative to China’s current dominance of the global rare earth supply chain, a theme we detailed closely when covering Energy Fuels’ recent mine-to-magnet acquisition earlier this year.

The three companies driving today’s rally each have a distinct claim to that opportunity. Critical Metals Corp is developing the Tanbreez rare earths mine in southern Greenland and already holds a 15-year offtake partnership with magnet manufacturer REalloys covering up to 15% of the project’s future production. Greenland Mines is advancing the Skaergaard project, one of the world’s largest undeveloped palladium, gold, and platinum deposits, alongside a separate neodymium-praseodymium rare earths project. Greenland Energy is pursuing oil and gas exploration rather than rare earths specifically, though it recently delayed its own drilling plans after Greenland’s government issued a formal warning to its joint venture partner over bringing equipment ashore without proper authorization, a reminder that operating in Greenland carries real regulatory friction even with Washington’s backing.

Independent industry analysts have raised serious and specific concerns about how quickly, or whether, any of this translates into actual production. Multiple recent assessments from mining and metals consultancies note that Greenland’s rare earth deposits face unresolved processing economics, significant Arctic infrastructure deficits, no existing non-Chinese separation capacity anywhere on the island, and in some cases genuine radioactive waste concerns tied to the specific mineralogy of these deposits. Outside the capital city of Nuuk, much of Greenland depends on ships, aircraft, and dog sleds for basic transport, and its harsh climate and remoteness substantially raise the cost of any extraction effort. As several analysts have put it, security guarantees may attract Western capital, but they cannot substitute for proven metallurgy, functioning ports, reliable power, skilled labor, and an actual mine-to-magnet supply chain, all of which still need to be built essentially from scratch.

Greenland is not the only place this strategic push is playing out, and investors don’t need direct exposure to the island itself to participate in the broader theme. A wider push toward allied, non-Chinese critical mineral development has been building across North America for the past several years, with junior mining companies in the United States and Canada working to establish domestic and allied supply chains for materials the world currently sources overwhelmingly from China. Companies like Century Lithium Corp and Tectonic Metals Inc, both developing projects in North American jurisdictions, are not connected to today’s Greenland agreement in any way, but they operate in the same strategic category, positioning allied-nation mineral resources as an alternative to Chinese dominance, that is fueling investor enthusiasm for Greenland right now.

For investors, today’s moves are a clear example of a security and geopolitical catalyst driving share prices far ahead of underlying commercial reality. That doesn’t mean the opportunity isn’t real, both the Trump administration’s strategic interest and the individual companies’ project economics could genuinely develop over time. But the gap between a triple-digit percentage stock move today and a functioning rare earth supply chain years from now is substantial, and investors should weigh the extraction and infrastructure challenges just as carefully as the geopolitical tailwind.

Release – First Phosphate Reports Publication of Peer-Reviewed Study of the Bégin-Lamarche Igneous Phosphate Deposit in Ore Geology Reviews

Posted on by [email protected]
First Phosphate Corp.

Research News and Market Data on PHOS

September 21, 2026 7:07 AM EDT | Source: First Phosphate Corp.

Saguenay, Quebec–(Newsfile Corp. – September 21, 2026) – First Phosphate Corp. (NASDAQ: PHOS) (CSE: PHOS) (OTCQX: FRSPF) (FSE: KD0) (“First Phosphate” or the “Company“) is pleased to announce that the Company’s Bégin-Lamarche Igneous Phosphate Deposit has been subject of a peer-reviewed study in Ore Geology Reviews (published on ScienceDirect), a premier scientific journal focusing on ore genesis and exploration.

The study highlights how economic, phosphate-rich layers in the Bégin-Lamarche deposit were formed. Results indicate these layers are low in chlorine and other trace elements making them suitable as a potential high-purity source of phosphate for production of purified phosphoric acid (“PPA”), a critical precursor in the manufacture of lithium iron phosphate (“LFP”) battery cathode active material.

The full peer-reviewed publication is accessible via ScienceDirect at:

https://www.sciencedirect.com/science/article/pii/S0169136826000375?via%3Dihub

The research, authored by scientists from Queen’s University and Université du Québec à Chicoutimi (UQAC), focuses on the geological characterization of the Mountain, North and South Zones of the Company’s Bégin-Lamarche igneous phosphate deposit, part of the 1.14 Ga Lac-Saint-Jean Anorthositic (“LSJA”) Suite – the largest anorthosite complex in the world.

Through detailed mineralogical, petrological and geochemical analysis, the study further reinforces the strategic importance of Québec igneous phosphate as a secure North American feedstock source capable of supporting First Phosphate’s vertical integration strategy along the LFP battery supply chain.

The conclusions of the study are summarized below:

  1. The Bégin-Lamarche deposit is hosted in massif anorthosite and associated nelsonite and oxide-apatite-mafic to ultramafic rocks of the Lac-Saint-Jean Anorthositic Suite. Apatite represents the primary phosphatic mineralization confirming the magmatic origin and geological continuity of the phosphate-bearing zones across the Mountain, North and South Zones.
  2. Analytical results demonstrate that the phosphate mineralization is capable of producing a high-grade phosphate concentrate. Testing indicates concentrate levels around ~40% P₂O₅, which aligns above global averages for igneous phosphate concentrates and supports suitability for PPA production.
  3. Geochemical characterization demonstrates low levels of deleterious trace elements unlike those which are commonly associated with sedimentary phosphate deposits. Such low concentrations of deleterious trace elements enhance the potential for producing high-purity PPA suitable for LFP cathode active material applications.
  4. The geometry, thickness and near-surface occurrence of certain phosphate layers suggest favorable conditions for potential open-pit mining scenarios, subject to further engineering and mine planning studies, thereby supporting the long-term development potential of the deposit.

These findings provide the foundation for the exploration of other igneous phosphate layers throughout the Québec anorthosite that are suitable for LFP battery production. Results may apply to other phosphatic anorthosites globally offering new insights for high-purity phosphate resource development.

Qualified Person

The scientific and technical disclosure for First Phosphate included in this news release has been reviewed and approved by Steeve Lavoie, P.Geo. Mr. Lavoie 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 ScienceDirect

ScienceDirect, operated by Elsevier, is the premier platform for peer-reviewed scientific, technical and health literature. It provides access to millions of journal articles and book chapters across more than 3,000 peer-reviewed journals and tens of thousands of books. ScienceDirect supports interdisciplinary research and delivers trusted, high-quality scientific content to researchers, engineers, academics and industry professionals worldwide. Through advanced search tools and AI-powered features, ScienceDirect enables efficient discovery and exploration of validated scientific evidence to accelerate innovation and informed decision-making.

About First Phosphate Corp.

First Phosphate (NASDAQ: PHOS) (CSE: PHOS) (OTCQX: FRSPF) (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 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:

Steeve Lavoie
Chief Geologist
Tel: +1 (418) 815-5416

Investor Relations: https://firstphosphate.com/investors
Media Relations: https://firstphosphate.com/contact
Website: www.FirstPhosphate.com

Follow First Phosphate:

Twitter: https://twitter.com/FirstPhosphate
LinkedIn: https://www.linkedin.com/company/first-phosphate/

– 30 –

Forward-Looking Information and Cautionary Statements

This press release contains certain statements and information that may be considered “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws. In some, but not necessarily all, cases, forward-looking statements and forward-looking information can be identified by the use of forward-looking words such as “expects,” “aims,” “anticipates” or “does not expect,” “should,” “is likely to,” “estimates,” “intends,” “assumes,” “anticipates” or “does not anticipate,” or “believes,” or variations of such words and phrases, or by statements indicating that certain actions, events or results “may,” “could,” “should,” “are likely to,” “will,” or “will be undertaken,” “occur,” or “be achieved,” and other similar expressions. Furthermore, statements in this press release that are not historical facts are forward-looking statements, including, but not limited to: expectations regarding the potential mineralization, geological merit and economic feasibility of the Company’s projects, including the layers’ suitability as a potential high-purity source of phosphate for the production of PPA, Québec igneous phosphate being a source capable of supporting First Phosphate’s vertical integration strategy into the LFP battery supply chain, the future production and grade of phosphate concentrate, the potential for producing high-purity phosphoric acid suitable for LFP cathode active material applications, favorable conditions for potential open-pit mining scenarios and the long-term development potential of the property. Although the Company believes that the expectations expressed in these forward-looking statements are based on reasonable assumptions, these statements are not guarantees of future performance, and actual results or developments may differ materially from those anticipated in the forward-looking statements. Factors that could cause actual results to differ materially from those expressed in the forward-looking statements include development and exploration successes, the continued availability of capital and financing, and general economic, market, or business conditions. These statements are based on a number of assumptions, including: that the engineering and construction schedules and capital costs associated with the Company’s exploration, development, and expansion projects are correctly estimated and will not be affected by unforeseen circumstances; the ability to obtain financing for the proposed activities on acceptable terms; the absence of a material deterioration in general commercial and economic conditions; the absence of significant delays in obtaining permits and other approvals; and the absence of significant disruptions affecting the Company’s operations or its ability to access the operating equipment, services, and supplies required for the project.in sufficient quantities and in a timely manner; the maintenance of inflation and project input prices at levels approximately in line with expectations; the ability to carry out exploration and development programs in accordance with the Company’s expectations; expectations regarding commodity prices, including assumptions concerning P2O5; the maintenance of the Company’s relationships with local municipalities and First Nations in accordance with its expectations; the maintenance of the Company’s relationships with its other partners and third-party suppliers in accordance with its expectations; and the maintenance of relationships with governments and government actions in accordance with the Company’s expectations. Investors are cautioned that these statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. The Company assumes no obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. All forward-looking information contained in this press release is subject to these cautionary statements.

info

Source: First Phosphate Corp.

Artemis Gold to Acquire Vista Gold in $427 Million All-Stock Deal for Australia’s Mt Todd Project

Posted on by [email protected]

Artemis Gold (TSXV: ARTG) has agreed to acquire Vista Gold (NYSE American, TSX: VGZ) in an all-stock transaction valued at approximately $427 million, the companies announced September 20, 2026. Under the deal, Vista Gold shareholders will receive 0.0966 Artemis Gold shares for each share they hold, implying a value of $2.83 per Vista Gold share, a 29% premium to Vista Gold’s 20-day volume-weighted average price and a 25% premium to its last closing price. The transaction is expected to close in January 2027, pending shareholder, court, and regulatory approval, including sign-off from Australia’s Foreign Investment Review Board.

The acquisition gives Artemis Gold full ownership of the Mt Todd gold project in Australia’s Northern Territory, a feasibility-stage development asset hosting 9.1 million ounces of measured and indicated gold resources plus 1.4 million ounces of inferred resources. Mt Todd already holds key permits for a 50,000 tonne per day processing facility, meaning the project arrives with major regulatory hurdles already cleared, a significant factor in its valuation. No cash or new debt is involved in the deal, and existing Artemis Gold shareholders will own approximately 95% of the combined company once it closes.

Importantly, Artemis Gold has been clear that this acquisition does not change its near-term priorities. The company’s Blackwater mine in British Columbia, specifically its Phase 1A and EP2 expansion projects, remains the primary focus and funding priority. Blackwater is expected to produce more than 500,000 ounces of gold annually with industry-leading costs following the completion of EP2 in mid-2028. Construction spending at Mt Todd is not expected to begin until after that Blackwater expansion is fully operational, meaning the two projects are sequenced rather than competing for capital simultaneously. Combined, Artemis Gold has outlined a pathway toward producing more than one million ounces of gold annually once both assets are fully developed.

For Vista Gold shareholders, the deal offers an immediate cash-free premium along with continued exposure to Mt Todd’s development, now backed by a management team with a demonstrated track record building large-scale gold mines, along with the financial strength of a larger, cash-generating producer rather than a single-asset developer.

This transaction reflects a broader pattern in the gold mining sector this year, as sustained strength in gold prices has made permitted, advanced-stage development assets increasingly valuable acquisition targets for producers with the balance sheet to fund construction, a dynamic we detailed when covering gold’s sharp rally earlier this year. For investors tracking the small and microcap mining space, this deal is a useful example of how a single-asset developer with strong technical merit but limited standalone funding capacity can create real shareholder value by combining with a larger, better-capitalized producer, rather than attempting to finance construction independently.

That dynamic extends well beyond this single transaction. Smaller precious metals developers such as Tectonic Metals, Aurania Resources, and Kuya Silver Corporation occupy a similar position in the market today, advancing early or mid-stage gold and precious metals projects with real technical merit but the same standalone funding constraints Vista Gold faced before this deal. As gold prices remain elevated, larger producers continue to have strong incentive to seek out exactly these kinds of development-stage assets, making consolidation activity like the Artemis-Vista transaction a trend worth watching rather than an isolated event.

First Phosphate Corp. (PHOS) – SERV Adds a Significant New Export Credit Agency (ECA) Financing Component

Posted on by cpatches


Thursday, September 17, 2026

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

Refer to the full report for the price target, fundamental analysis, and rating.

Swiss support adds another financing layer. First Phosphate has received a Letter of Support from Swiss Export Risk Insurance (SERV) for approximately US$212.5 million in potential financing tied to Swiss machinery, equipment, goods, and services for the Bégin-Lamarche mine and processing facility. The contemplated financing is based on an assumed US$250 million eligible Swiss export contract, with SERV prepared to consider financing 85% of the contract value.

European and G7 support is converging around the project. The SERV announcement follows EIFO’s earlier letter of intent for up to €170 million in guaranteed financing support, while the Canadian government’s G7 Critical Minerals Resilience and Production Alliance announcement also highlighted Danish support for the Bégin-Lamarche mine and Italian financial and industrial support for First Phosphate’s downstream phosphoric acid facility. Switzerland is not a G7 member, but SERV’s participation adds another significant European state-backed export finance institution to a project already receiving support through G7-related initiatives.


Get the Full Report

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 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. 

Kodiak Copper Corp. (KDKCF) – Advancing a District-Scale Copper-Gold Porphyry Project in British Columbia

Posted on by cpatches


Thursday, September 17, 2026

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

George Proost, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

A large copper resource with room to grow. We have initiated coverage of Kodiak Copper Corp. with an Outperform rating and a price target of C$2.10, or approximately US$1.50 per share. Kodiak’s 100%-owned MPD Copper-Gold Project in southern British Columbia contains 439.2 million tonnes of Indicated and Inferred Resources across seven deposits, all open to expansion. Resource growth and improved project definition could support a higher valuation against a favorable long-term outlook for copper.

Ketchan drilling supports higher-grade potential. Hole AG-26-019 returned 283.5 meters at 0.70% copper equivalent (CuEq) from 37.5 meters downhole, including 108 meters at 1.02% CuEq. The result highlights shallow mineralization that could improve the grade and confidence of the existing resource.


Get the Full Report

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 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. 

Release – SERV, Swiss Export Risk Insurance, Supports Guarantee of USD 212.5 Million for Capex of First Phosphate Mine Project in Quebec, Canada

Posted on by [email protected]
First Phosphate Corp.

Research News and Market Data on PHOS

September 16, 2026 5:00 AM EDT | Source: First Phosphate Corp.

Saguenay, Québec–(Newsfile Corp. – September 16, 2026) – First Phosphate Corp. (NASDAQ: PHOS) (CSE: PHOS) (OTCQX: FRSPF) (FSE: KD0) (“First Phosphate” or the “Company“) is pleased to announce that it has received a Letter of Support from Swiss Export Risk Insurance (“SERV”) for approximately USD 212.5 Million for the purchase of Swiss machinery and equipment for its igneous phosphate mine project, as well as goods and services for the construction of its processing facility in Saguenay-Lac-St-Jean, Quebec, Canada.

SERV is prepared to consider insurance/guarantees in support of a buyer credit financing based on an assumed eligible Swiss export contract value of USD 250 million where SERV would consider supporting a financed amount of approximately USD 212.5 million, corresponding to 85% of such contract value. Should the final eligible Swiss export contract value be higher, SERV would be prepared to consider a correspondingly higher financing amount.

In accordance with the prevailing OECD guidelines, SERV would be prepared to provide cover of up to 95% of the eligible financed amount. The financed amount may include up to 85% of the export contract value, eligible local costs of up to 50% of the export contract value, capitalized interest during construction, and the export credit agency premium.

A sufficient portion of the project is expected to be sourced from Switzerland to be eligible for SERV coverage. SERV may also seek reinsurance from other export credit agencies in respect of significant portions of the project sourced outside Switzerland.

About First Phosphate Corp

First Phosphate (NASDAQ: PHOS) (CSE: PHOS) (OTCQX: FRSPF) (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
Tel: +1 (514) 618-5289

Investor Relations: [email protected]
Media Relations: [email protected]
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 news release contains certain statements and information that may be considered “forward-looking statements” and “forward looking information” within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking statements and forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” 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”, “will” or “will be taken”, “occur” or “be achieved” and other similar expressions. In addition, statements in this news release that are not historical facts are forward looking statements, including, among other things: the Company and SERV entering into of a definitive agreement and the terms thereof; the Company’s actual expenditures on equipment and services, and the source and value thereof; and the results of SERV’s due diligence and other enquiries 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: that engineering and construction timetables and capital costs for the Company’s, exploration, development and expansion projects are correctly estimated and not affected by unforeseen circumstances; the ability to obtain financing for its proposed operations on acceptable terms; no material deterioration in general business and economic conditions; no material delays in obtaining permits and other approvals; no significant disruptions affecting the activities of the Company or its ability to access required project equipment and services, and operating supplies in sufficient quantities and on a timely basis; inflation and prices for Company project inputs being approximately consistent with anticipated levels; the ability to complete the exploration and development programs consistent with the Company’s expectations; commodity price expectations including assumptions for P2O5; the Company’s relationship with local municipalities and First Nations 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.

info

Source: First Phosphate Corp.