Natural Resources Archives - Page 2 of 180

VivoPower International PLC (VIVO) – Advancing Mo i Rana Development and Sovereign AI Strategy

Posted on October 27, 2026October 27, 2026 by [email protected]

Tuesday, October 27, 2026

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Analyst, Noble Capital Markets, Inc.

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

Construction mobilized at Mo i Rana. On October 12, 2026, VivoPower announced the start of construction for the initial 40MW AI data center at its Mo i Rana facility in Norway. While a definitive lease agreement has not yet been announced, the company confirmed that it has selected a global AI industry leader as its preferred tenant, with the facility’s design and construction tailored to the prospective customer’s requirements.

Existing operations maintained during construction. VivoPower has engaged local contractors to complete site preparation and structural works ahead of the specialized mechanical and electrical fit-out. Under the original development plan, construction will proceed on adjacent land while existing Bitcoin mining and grid-balancing operations continue. After the mining lease expires in June 2027, the existing power capacity is earmarked for AI applications, with an additional 40MW development planned thereafter.

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.

Resolution Minerals Ltd (RML) – Golden Gate North Gold Zone Expands

Posted on October 27, 2026October 27, 2026 by [email protected]

Tuesday, October 27, 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.

Drilling expands the gold zone. Resolution Minerals reported additional drill results from Golden Gate North at its 100%-owned Horse Heaven project in Idaho, confirming gold mineralization over an area measuring at least 500 meters along strike, 200 meters in width, and 300 meters in depth. The results expand the known mineralized footprint and strengthen the potential for a sizable near-surface gold system.

Broad mineralized intervals. Three newly reported drill holes intersected extensive gold mineralization beginning at the surface, including 324 meters grading 0.49 grams per tonne (g/t) gold and 322 meters grading 0.37 g/t gold. Although grades remain relatively modest, the continuity and scale of mineralization are encouraging and support further evaluation of potential bulk tonnage mineralization.

Get the Full Report

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

Alliance Resource Partners (ARLP) – Strong Third Quarter Results Reinforce Constructive 2027 Outlook

Posted on October 27, 2026October 27, 2026 by [email protected]

Tuesday, October 27, 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.

Third Quarter Financial Results. Alliance Resource Partners reported third-quarter 2026 revenue of $603.0 million, up 5.5% year-over-year and 9.3% sequentially. Net income attributable to ARLP increased 46.8% to $139.6 million, or $1.08 per unit, compared with $0.73 a year ago and $0.61 in the second quarter. Adjusted EBITDA attributable to ARLP increased 26.3% to $233.9 million, reflecting stronger coal operations and record oil and gas royalty contributions.

Operating Performance Strengthens. Coal sales increased 7.4% year-over-year to 9.35 million tons, supported by resumed production at Hamilton and strong performance at River View and Tunnel Ridge. Segment Adjusted EBITDA expense per ton decreased 13.1% to $35.64, contributing to an 18.6% increase in Coal Operations Segment Adjusted EBITDA to $186.8 million. The AllDale III and IV acquisition contributed to record oil and gas royalty production of 1.45 million barrels of oil equivalent, while attributable segment Adjusted EBITDA increased 61.4% to $43.6 million.

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).

Kodiak Copper Corp. (KDKCF) – Kodiak Advances MPD Metallurgy Ahead of Key 2027 Catalysts

Posted on October 23, 2026October 23, 2026 by [email protected]

Friday, October 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.

Metallurgical work begins. Kodiak Copper has commenced an additional metallurgical program at its 100%-owned MPD copper-gold porphyry project in southern British Columbia. The new work builds on positive results reported earlier this year and is focused on flowsheet development and optimization. The program is intended to improve the technical foundation for future economic studies while MPD continues to advance through ongoing exploration and resource growth.

Project-wide testing. The program is broad in scope and will include representative material from all seven deposits included in MPD’s mineral resource estimate: 1) Gate, 2) Ketchan, 3) Man, 4) Dillard, 5) West, 6) Adit, and 7) South. Four composite samples representing the Southern Area, Northern Area, Ketchan, and Gate will undergo mineralogical, comminution, gravity, flotation, locked cycle, and concentrate quality testing. In our view, this should help determine whether a common processing flowsheet can be applied across multiple deposits, which could simplify future development and provide greater flexibility in mine planning and deposit sequencing.

Get the Full Report

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

Oil Prices Surge Above $110 as U.S.-Iran Tensions Raise Fears of Escalation After Midterms

Posted on October 23, 2026October 23, 2026 by [email protected]

Oil prices surged Thursday as investors weighed reports that the United States and Israel could intensify military operations against Iran following the November midterm elections, raising concerns about additional disruptions to global energy supplies and renewed inflationary pressure.

Brent crude futures climbed above $111 per barrel during early trading on October 22, approaching a five-month high, while U.S. West Texas Intermediate crude rose toward $100. The gains reflected growing uncertainty surrounding the Middle East conflict and the potential consequences for oil production, shipping routes, and global economic growth.

According to reports citing The New York Times, U.S. and Israeli officials have been considering expanded military operations targeting Iranian energy infrastructure and other strategic facilities after the November 3 elections. The reported plans remain uncertain, and no final decision on additional military action has been publicly confirmed.

The developments have intensified concerns surrounding the Strait of Hormuz, a critical shipping passage connecting major Persian Gulf oil producers with international markets. Disruptions to tanker traffic through the waterway have already constrained energy shipments, contributing to higher crude prices and increased volatility across commodity markets.

Recent attacks have added to the uncertainty. Iran-aligned Houthi forces launched strikes against targets in Saudi Arabia, including energy-related infrastructure, while additional incidents involving vessels in the Persian Gulf have heightened concerns about regional security.

The combination of military tensions and shipping disruptions has created a significant geopolitical risk premium in oil prices, with traders increasingly focused on the possibility of prolonged supply shortages.

Energy markets received additional support from U.S. inventory data released Wednesday. The Energy Information Administration reported that domestic crude inventories declined by approximately 3.1 million barrels during the previous week, exceeding analysts’ expectations for a smaller reduction.

The larger-than-expected drawdown suggests that available supplies remain tight, adding upward pressure to prices at a time when geopolitical developments are already limiting market confidence.

For investors, rising crude prices have implications extending well beyond the energy sector. Higher oil costs can increase gasoline and diesel prices, raise transportation expenses, and push up production costs for businesses across the economy.

Those pressures could complicate the Federal Reserve’s efforts to contain inflation. If energy prices remain elevated, policymakers may face additional challenges in determining when borrowing costs can move lower without reigniting broader price pressures.

The developments are particularly relevant for smaller companies, which may have less flexibility to absorb higher operating expenses or secure financing during periods of elevated interest rates.

At the same time, stronger oil prices can create opportunities for energy producers. Companies operating in North American oil and natural gas markets may benefit from improved commodity pricing, although production costs, hedging arrangements, and individual operating conditions influence their financial performance.

Among companies followed by Noble Capital Markets, InPlay Oil Corp. (TSX: IPO) operates in the Canadian oil and natural gas sector, while Alliance Resource Partners (NASDAQ: ARLP) maintains significant exposure to domestic energy markets through its coal operations and related interests. Their businesses illustrate different areas of the energy industry that investors may evaluate as commodity markets respond to geopolitical developments.

However, higher energy prices are not universally positive for the sector. Companies dependent on fuel-intensive transportation, manufacturing, and logistics may experience additional margin pressure if elevated prices persist.

The coming weeks could prove important for global oil markets as investors monitor diplomatic negotiations, military developments, and the outlook for energy shipments through the Persian Gulf.

For now, the combination of geopolitical uncertainty and tightening inventories suggests that oil prices could remain volatile, with significant implications for inflation, corporate earnings, and financial markets heading into the final months of 2026.

Release – Kodiak Commences Additional Metallurgical Testing Focused on Flowsheet Development & Optimization

Posted on October 22, 2026October 22, 2026 by [email protected]

October 22, 2026 – Vancouver, British Columbia – Kodiak Copper Corp. (the “Company” or “Kodiak”) (TSX-V: KDK, OTCQX: KDKCF, Frankfurt: 5DD1) today reports that it has commenced an additional metallurgical testwork program, for its 100% owned MPD copper-gold porphyry project in southern British Columbia.

The testwork program will focus on flowsheet development and optimization and build on the test results received earlier this year (see news release here). It will include samples from all seven deposits that comprise the Mineral Resource Estimate at MPD: Gate, Ketchan, Man, Dillard, West, Adit and South (see Figure 1). Sample selection was designed to be representative of the mineralization, grade, lithology, and spatial variability across each deposit. Four composite samples representing the Southern Area (South, West and Adit), Northern Area (Man and Dillard), Ketchan and Gate will be tested. Testing will include mineralogy, comminution, gravity testwork for gold, flotation rougher and cleaner optimization, locked cycle testing and concentrate quality assessment. The results from the program are expected in Q1 2027.

Claudia Tornquist, President and CEO of Kodiak said,

“As we continue to grow the mineral resource at MPD through exploration, we are also advancing our metallurgical testwork to further de-risk the project and strengthen the foundation for future economic studies. Our metallurgical results to date are very encouraging, and this next phase of work is designed to expand on those positive findings. The program will focus on optimizing metal recoveries, particularly for gold, and produce valuable information on rock properties and hardness. Together with our ongoing exploration program and planned resource update in early 2027, this work represents another important step in unlocking the value of MPD for our shareholders.”

Kodiak has engaged Fuse Advisors Inc., Part of SLR (“Fuse”) to design and manage this metallurgical testwork program, with technical guidance from Kodiak advisor Mike Westendorf. Fuse is a mining consultancy with extensive experience across a wide range of deposit types and metals, including many porphyry copper projects in British Columbia. The laboratory work will be conducted in Parksville at Blue Coast Research Ltd (“Blue Coast”) under the supervision of Fuse Metallurgist Renee Goold, P.Eng, an independent Qualified Person as defined by National Instrument 43-101. Blue Coast is a leading provider of metallurgical testing services for the global mining industry.

Ms Goold has reviewed this news release and approved the technical information pertaining to the metallurgical work. Dave Skelton, P.Geol, Vice President Exploration and a Qualified Person as defined by National Instrument 43-101, has reviewed, and approved the technical information contained in this release.

On behalf of the Board of Directors

Kodiak Copper Corp.

Claudia Tornquist
President & CEO

For further information contact:
Nancy Curry, VP Corporate Development
[email protected]
+1 (604) 646-8362

Kodiak Copper Corp. (KDKCF) – Kodiak Extends Ketchan Mineralization, Strengthening Resource Potential

Posted on October 19, 2026October 19, 2026 by [email protected]

Monday, October 19, 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.

Ketchan deposit expands significantly. Kodiak Copper recently reported encouraging results from seven drill holes totaling 1,583 meters at its 100%-owned MPD copper-gold project in British Columbia. Step-out drilling extended the known mineralized envelope at Ketchan by at least 450 meters southeast of its existing 1.4-kilometer resource footprint, increasing the known extent of the mineralized system and supporting potential resource growth.

Near-surface copper-gold mineralization. Hole AG-26-034 intersected 122.5 meters grading 0.41% copper equivalent (CuEq), beginning just 5.5 meters below the surface. Hole AG-26-021 returned 202.5 meters grading 0.20% CuEq, while infill hole AG-26-015 intersected 207.3 meters grading 0.31% CuEq. The results demonstrate mineralization both beyond and within the existing resource boundaries.

Get the Full Report

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

First Phosphate Corp. (PHOS) – Advancing Toward Feasibility

Posted on October 19, 2026October 19, 2026 by [email protected]

Monday, October 19, 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.

Significant progress toward development. First Phosphate continues to advance its North American LFP battery materials strategy, supported by its inclusion in a G7-backed critical minerals initiative, international financing interest, accelerated permitting coordination in Quebec, and expanded mineral resources. These developments strengthen the company’s strategic position as Bégin-Lamarche advances toward feasibility.

Strengthening project economics and financing prospects. With the updated mineral resource estimate, indicated mineral resources increased by 378%, providing greater geological confidence for feasibility-level mine planning. Canadian government contributions and potential export credit support from Swiss and Danish agencies could reduce future funding requirements. Management is targeting completion of the Bégin-Lamarche feasibility study in the first quarter of calendar 2027.

Get the Full Report

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

Tectonic Metals Inc. (TETOF) – High-Grade Results Strengthen Flat’s Resource Potential

Posted on October 16, 2026October 16, 2026 by [email protected]

Friday, October 16, 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.

High-grade results strengthen exploration outlook. Tectonic Metals reported encouraging results from 19 drill holes at its Flat Gold Project in Alaska. At the Alpha Bowl target, drilling intersected 2.41 grams per tonne (g/t) gold over 59.44 meters, including 11.82 g/t over 10.67 meters and 39.96 g/t over 3.05 meters, within a broader interval of 1.86 g/t over 80.77 meters beginning at the surface. The results strengthen the potential for a large, near-surface gold system containing higher-grade zones.

Alpha Bowl emerges as a priority target. Alpha Bowl extends approximately 820 meters along strike and 600 meters in width, with mineralization encountered beyond 300 meters of vertical depth. Recent and historical drilling demonstrate gold mineralization across multiple locations, with higher-grade intersections suggesting opportunities to enhance future resource quality. Drilling is evaluating mineralization continuity and expansion potential, with several holes awaiting assays.

Get the Full Report

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

Release – Tectonic Metals Drills 2.41 g/t Au Over 59.44 Metres, Including 11.82 g/t Au Over 10.67 Metres and 39.96 g/t Au Over 3.05 Metres at Alpha Bowl, Flat Gold Project, Alaska

Posted on October 15, 2026October 15, 2026 by [email protected]

Drilling Reveals Additional Gold-Bearing Hydrothermal Breccia Mineralization Style at Chicken Mountain, Expanding Exploration Potential

VANCOUVER, B.C., October 15, 2026 – Tectonic Metals Inc. (“Tectonic” or the “Company”) (TSX-V: TECT; OTCQX: TETOF) today announced results from 19 drill holes at Chicken Mountain, the most advanced of six kilometre-scale intrusion targets at the Company’s flagship 99,840-acre Flat Gold Project (“Flat”) in southwest Alaska, U.S.

Drilling continues to deliver broad, near-surface gold mineralization with substantial higher-grade intervals at Alpha Bowl and Adit, two priority zones within Chicken Mountain’s mineralized footprint, which extends 3.3 kilometres (“km”) in length and up to 700 metres (“m”) in width, and has been drill-tested to a vertical depth of 300 m.

Today’s results are highlighted by:

Alpha Bowl: 2.41 grams per tonne gold (“g/t Au”) over 59.44 m, including 11.82 g/t Au over 10.67 m, which includes 39.96 g/t Au over 3.05 m, within a broader surface-starting interval of 1.86 g/t Au over 80.77 m.
Adit Zone: 1.52 g/t Au over 42.67 m, including 27.35 g/t Au over 1.52 m and 3.84 g/t Au over the final 13.72 m of the hole, where higher-grade mineralization remains untested beyond the end of the hole.

The results support the potential for near-surface, bulk-tonnage gold mineralization with higher-grade domains that could be relevant to future starter-pit evaluations. Drilling has also identified gold-bearing hydrothermal brecciation at Adit, adding a potentially important mineralization style and new exploration targets at Chicken Mountain.

Tectonic has completed more than 29,000 m of drilling in 2026 to advance resource delineation and expansion at Chicken Mountain, with drilling planned through the end of October. This release reports approximately 2,650 m from 19 holes (18 reverse-circulation (“RC”) and one diamond-core) at Alpha Bowl and Adit Zone (Figure 1).

In addition to today’s results, upcoming catalysts include: assays for 114 drill holes (approximately 22,000 m), column-leach test results and a maiden mineral resource estimate (“MRE”) targeted for Q1 2027, followed by a Preliminary Economic Assessment (“PEA”) targeted for Q2 2027.

Tony Reda, Co-Founder, President & CEO, commented:

“What continues to excite us is the scale emerging at Chicken Mountain. Alpha Bowl alone spans approximately 820 metres along strike, up to 600 metres in width, and has been drill-tested to a vertical depth of over 300 metres. These are substantial dimensions for an individual gold exploration target, yet Alpha Bowl represents just one part of Chicken Mountain’s broader 3.3-kilometre mineralized system. Together with Adit and other mineralized zones, the results continue to demonstrate the potential for a large-scale gold system with multiple higher-grade centres.

“We have tremendous momentum at Flat: 114 drill holes awaiting assays, drilling planned through the end of October, important column-leach results on the horizon and our maiden Mineral Resource Estimate in Q1 2027, followed by a Preliminary Economic Assessment in Q2 2027. The volume of new geological and metallurgical information still to come represents an exciting opportunity to deepen our understanding of this emerging gold system, refine our exploration and development strategy and potentially unlock further value across the 99,840-acre Flat property.”

Alpha Bowl Highlights

Alpha Bowl, the northern extension of the Chicken Mountain intrusion (see news release dated January 15, 2026)¹, encompasses a mineralized footprint approximately 820 m along strike and 600 m wide, with gold intersected to at least 300 m depth. The latest drilling has identified significant higher-grade gold mineralization near surface, supporting Alpha Bowl as a target for future starter-pit evaluation (Figures 3 and 4).

New At-Surface Gold Intersection: CMR26-170 returned 2.41 g/t Au over 59.44 m, including 11.82 g/t Au over 10.67 m and 39.96 g/t Au over 3.05 m, within a broader surface-starting interval of 1.86 g/t Au over 80.77 m. The hole ended in mineralization, leaving the intersection open beyond the end of the hole and making it a target for follow-up drilling.
Higher-Grade Mineralization Within a Broad Gold-Bearing System: CMR26-170 builds on previous drilling, including CMR25-035, which returned 2.23 g/t Au over 41.15 m (see news release dated September 10, 2025)². CMR26-170 is located 250 m south of CMR25-035, 100 m southeast of CMD25-009 (0.48 g/t Au over 94.00 m) and 170 m northeast of CMD25-010 (1.03 g/t Au over 10.00 m within 0.37 g/t Au over 56.5 m), the latter two both previously reported in the Company’s January 2026 news release. Together, these intersections demonstrate gold mineralization across multiple drill locations and suggest opportunities to delineate higher-grade domains within Alpha Bowl’s extensive mineralized footprint.
Expansion and Delineation Underway: Assays are pending from three holes east of CMR26-170, while ongoing drilling at approximately 100 m spacing is testing the lateral extent, geometry and continuity of mineralization.

The combination of broad surface-starting intersections, locally substantial grades and a large mineralized footprint positions Alpha Bowl as a priority target for delineating higher-grade zones within a potential bulk-tonnage, open-pit gold system.

Adit Zone Highlights

The Adit Zone is a priority gold-bearing corridor associated with a major structural contact between the medium-grained Chicken Mountain and coarse-grained Alpha Bowl monzonites. Building on the 2025 discovery intersection of 4.05 g/t Au over 30.48 m in CMR25-121 (see news release dated December 22, 2025)³, the 2026 program is delineating mineralization along this contact and toward Alpha Bowl.

Adit Main

New 2026 RC drilling continues to intersect broad, near-surface gold mineralization with locally substantial higher-grade intervals:

CMR26-160: 0.90 g/t Au over 73.15 m from surface, including 2.14 g/t Au over 21.34 m and 6.97 g/t Au over 4.57 m.
CMR26-161: 0.70 g/t Au over 45.72 m from surface, including 1.14 g/t Au over 16.76 m, plus a separate deeper interval of 0.69 g/t Au over 15.24 m, including 4.95 g/t Au over 1.52 m. Drilled at a steeper angle from the same collar as CMR26-160, this hole helps constrain mineralization geometry.
CMR26-162: 1.06 g/t Au over 19.81 m, including 1.71 g/t Au over 10.67 m, followed by a separate interval of 0.64 g/t Au over 33.53 m, extending to the end of the hole.
CMR26-163: 1.52 g/t Au over 42.67 m, including 27.35 g/t Au over 1.52 m and 3.84 g/t Au over the final 13.72 m of the hole.
CMR26-171: 0.66 g/t Au over 35.05 m, including 1.00 g/t Au over 18.29 m and 1.63 g/t Au over 9.14 m, with mineralization extending to the end of the hole.

These results further support the Chicken Mountain-Alpha Bowl intrusive contact as a priority exploration target, with broad mineralized intervals and localized higher-grade concentrations suggesting structural and lithological controls on gold distribution. Notably, CMR26-162, CMR26-163 and CMR26-171 all ended in mineralization, including CMR26-163, which returned 3.84 g/t Au over its final 13.72 m, leaving the extent of these intersections unresolved (Figures 5 and 6).

The combination of near-surface mineralization, higher-grade internal intervals and multiple drill holes ending in mineralization supports Adit Main as a target for delineating bulk-tonnage gold mineralization with higher-grade domains. Follow-up drilling will establish continuity along the intrusive contact, extend mineralization beyond current drill limits and evaluate the potential for near-surface higher-grade zones that could contribute to future starter-pit evaluation.

Gold-Bearing Breccia Expands Exploration Targets

Diamond hole CMD26-054 intersected 0.73 g/t Au over 43.50 m, including 1.22 g/t Au over 15.00 m, within a multi-stage hydrothermal breccia interpreted to have formed through repeated episodes of faulting, brecciation and veining. The hydrothermal intersection in drill core shows multistage faulting with veins and brecciation and later carbonate and iron staining (see Figures 7 to 11).

Within Chicken Mountain’s interpreted reduced intrusion-related gold system (“RIRGS”), areas where intrusive contacts, faulting and hydrothermal brecciation coincide create additional targeting opportunities. Such sites may have provided localized pathways for gold-bearing fluids and could host mineralized bodies with different geometries from the surrounding sheeted-veinlet arrays.

Tectonic drilled follow-up holes at 100 m spacing to test the breccia’s extent, its relationship to neighbouring mineralization and whether repeated brecciation and veining are associated with gold enrichment. If demonstrated, these relationships could improve targeting of additional mineralized volume and local higher-grade zones along the Adit corridor. Assays are currently pending for CMD26-064 and CMD26-066.

The recognition of this hydrothermal breccia-hosted mineralization is significant because it suggests that mineralizing fluids were active within the system for a prolonged period and capable of multiple mineralizing events. This newly recognized style of mineralization adds an important development to the geologic and mineral model and expands the Company’s exploration potential.

Adit West

The Adit Zone structural contact is interpreted to extend westward along a corridor of coincident soil-geochemical and geophysical anomalies, defining a priority exploration target. Anomalous gold was intersected in seven of eleven holes, and this target remains insufficiently tested. Follow-up drilling from more favourably positioned drill pads will test the continuity and mineralization potential along the Adit West trend.

Drill results for the Adit Zone are shown in Figures 5 and 6.

Near-Term Catalysts

Drilling is expected to continue through the end of the field season in late October, supporting a steady flow of assay results through year-end. The assay pipeline is substantial, with 114 additional drill holes currently in the laboratory queue representing 22,000 m of the 2026 drill program.

Results from the regional soil-sampling program are also pending and will help refine and prioritize exploration targets beyond the current drilled footprint at Flat.

Drilling results and pending column-leach testing will inform the Company’s maiden MRE targeted for Q1 2027, and the PEA targeted for Q2 2027.

Qualified Person

Tectonic Metals’ disclosure of technical or scientific information in this press release has been reviewed, verified and approved by Peter Kleespies, M.Sc., P.Geo., Chief Geological Officer, who is a Qualified Person in accordance with Canadian regulatory requirements set out in National Instrument 43-101.

Analytical work for the 2026 Flat project drilling program was performed by ALS Global (“ALS”), an internationally recognized and accredited laboratory independent of Tectonic. On-site, core and reverse circulation samples were sealed in security-tagged bags and shipped under strict chain-of-custody protocols to the Lynden Transport logistics operator in Anchorage, Alaska, for delivery to ALS facilities in Vancouver, British Columbia.

Upon arrival at the laboratory, samples were dried, crushed to 2 mm and riffle split into nominal 500-gram subsample aliquots (prep codes CRU-31, SPL-32a). One portion was analyzed for gold using PhotonAssay™ (ALS code Au-PA01). PhotonAssay™ uses high-energy X-rays to determine gold content from a large sample aliquot, typically 500 g of crushed material. The method is non-destructive and is particularly suited to gold systems where larger sample aliquots may improve representativity. If additional nominal 500-gram PhotonAssay^TM analysis splits are conducted for a given sample, results from all splits are combined on a weight average basis. A second portion was pulverized such that 85% of the sample passed 75 µm, (PUL-31) and was analyzed by four-acid digestion with ICP-MS finish for 48 elements (ME-MS61), along with aqua regia digestion with ICP-MS finish for trace levels of mercury (Hg-MS42).

Quality assurance and quality control (QA/QC) protocols included the insertion of certified reference material every 20 samples, blank samples at rate of every 25 samples and field duplicate samples (split from the original 1.5 m for RC or 1.5 m for core intervals) every 25 samples. All QA/QC results returned values within acceptable limits.

About Tectonic Metals Inc.

Tectonic Metals Inc. is a mineral exploration company focused on exploring and developing its flagship Flat Gold Project in southwestern Alaska, covering 99,840 acres of predominantly Native-owned land belonging to Doyon, Ltd., a leading Alaska Native Regional Corporation and one of Tectonic’s largest shareholders. The current focus is on advancing the Chicken Mountain target, one of six multi-kilometre-scale intrusion zones at the Flat Gold Project, towards the Company’s maiden Mineral Resource Estimate in Q1 2027.

Founded by key members of the Kaminak Gold team behind the discovery and advancement of the Coffee Gold Project, which was acquired by Goldcorp for $520 million in 2016, Tectonic brings a proven track record in exploration, project advancement, capital markets and value creation. Collectively, the team has helped identify more than 40 million ounces of gold, advanced 20 projects through to feasibility, permitted 25 projects, completed over $6 billion in mergers and acquisitions and raised more than $6 billion in capital.

Tectonic’s mission is to be a shift in the game: working for our shareholders and the communities where we operate, putting people first, playing big and staying true to our word every step of the way.

On behalf of Tectonic Metals Inc.,
Tony Reda, President and Chief Executive Officer

For further information about Tectonic Metals Inc. or this news release, please visit our website at www.tectonicmetals.com or contact:

Keren Yun, Vice President, Investor Relations
1-888-685-8558 or [email protected]

Aurania Resources (AUIAF) – Drilling Completed at Thor’s Valley; Assays Expected in November

Posted on October 14, 2026October 14, 2026 by [email protected]

Wednesday, October 14, 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.

2026 drilling program completed. Aurania completed eight diamond drill holes totaling 780.7 meters at its Thor’s Valley gold-silver project in Iceland, compared with six holes originally planned. The program included six holes twinning historical drilling, one drilled in the same direction as a historical hole but at a different inclination, and a step-out hole 50 meters northwest of the historic area. The program was intended to confirm historical results and assess the continuity and extent of mineralization. Assay results are expected in November 2026.

Core recovery improves geological confidence. Aurania achieved nearly 100% core recovery in most holes, compared with approximately 50% or less historically. Using HQ3 diamond drilling, the company recovered fragmented, clay rich vein material frequently lost during earlier programs. More representative samples should improve the assessment of historical gold grades and mineralized widths.

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).

Critical Minerals Race Fuels Mining Deals as Companies Move to Secure Copper and Rare Earth Supplies

Posted on October 14, 2026October 14, 2026 by [email protected]

The global race to secure critical minerals is driving renewed merger and acquisition activity across the mining industry, as companies seek greater control over copper, rare earth elements, and other strategically important resources. Growing demand from electrification, artificial intelligence infrastructure, and defense manufacturing is encouraging producers to pursue acquisitions, strategic partnerships, and long-term supply agreements.

For small-cap and microcap mining companies, these developments could create opportunities to attract investment, advance exploration projects, and establish relationships with larger industry participants.

Recent transactions involving copper exploration assets and rare earth supply agreements highlight the increasing importance of securing access to future mineral production.

Copper remains central to global electrification, with applications spanning electric vehicles, renewable energy systems, power transmission networks, and data centers.

As electricity demand increases, mining companies are looking to expand their resource portfolios. However, developing new copper mines can require substantial investment and years of exploration, permitting, and construction.

Acquiring existing exploration assets or partnering with junior miners can offer established producers an alternative route to securing future supplies.

Kodiak Copper (KDKCF) provides an example of activity within the junior copper sector. The company is advancing its MPD copper-gold project in British Columbia, where its 2026 exploration program includes drilling intended to expand existing mineral resources and evaluate additional targets.

Kodiak has also pursued a proposed transaction involving its Mohave copper project in Arizona and assets contributed by Teck Resources, illustrating how junior miners can participate in broader asset consolidation strategies.

Another company operating in the sector is Power Metallic Mines (PNPNF), which is advancing polymetallic exploration projects in Quebec with exposure to copper and other metals important to industrial supply chains.

Beyond copper, rare earth elements have become increasingly important because of their use in electric motors, wind turbines, and advanced defense technologies.

Recent activity involving Arafura Rare Earths and commodity trader Traxys underscores the importance of long-term offtake agreements in securing future supplies.

These arrangements can provide mining developers with commercial visibility while helping industrial customers reduce exposure to concentrated global supply chains.

The broader critical minerals landscape also includes materials used in batteries and energy storage.

First Phosphate (PHOS) is focused on phosphate resources in Quebec, a material relevant to lithium iron phosphate battery chemistry. Meanwhile, Century Lithium (CYDVF) is developing its Angel Island lithium project in Nevada, positioning it within the North American battery materials supply chain.

Although these companies operate in different commodity markets, their projects illustrate the range of resources attracting strategic interest as governments and manufacturers prioritize domestic and diversified supply networks.

For junior mining investors, increasing acquisition activity could provide additional opportunities for companies with attractive deposits, favorable jurisdictions, and credible development plans.

However, stronger demand for critical minerals does not automatically translate into profitable projects.

Investors should evaluate resource quality, project economics, financing requirements, permitting risks, and potential shareholder dilution.

Strategic equity investments, joint ventures, government funding commitments, and binding offtake agreements may offer important indications of commercial interest.

As competition for critical minerals intensifies, securing reliable access to future production is becoming an increasingly important priority.

For small-cap mining companies, this environment could support additional partnerships and consolidation activity, making critical minerals a sector worth watching through the remainder of 2026 and beyond.

Release – Aurania Completes Drilling at Thormodsdalur Gold Project in Iceland

Posted on October 13, 2026October 13, 2026 by [email protected]

Research News and Market Data on AUIAF

October 13, 2026 7:00 AM EDT | Source: Aurania Resources Ltd.

Toronto, Ontario–(Newsfile Corp. – October 13, 2026) – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) (“Aurania” or the “Company”) announces the completion of its 2026 drill program on the Thormódsdalur epithermal gold-silver project in Iceland (the “Project”). Eight holes were diamond drilled for a total of 780.70 metres, with mineralized textures consistent with epithermal gold-silver mineralization observed in every hole. Core recovery was at or close to 100% in most cases, addressing key limitations of previous drilling. Assay results are anticipated in November 2026, subject to laboratory processing times.

Highlights

Eight diamond drill holes completed, totalling 780.70 metres.
Core recovery at or close to 100% in most cases, compared with approximately 50% or less reported in previous programs.
Most holes twinned historical holes to re-test vein zones affected by earlier core loss.
Quartz veins and hydrothermal breccias display textures consistent with an epithermal gold-silver system present in every drillhole; grades await laboratory assays.
Samples submitted to ALS; assay results expected in November 2026.

Aurania’s President & CEO, Dr. Keith Barron, commented, “Iceland has a successful history of drilling for geothermal hot water and steam for the generation of electric power, and there are many contractors on the island nation. However, the objective in geothermal drilling is to drill an open hole into the ground for maybe hundreds of metres, not to secure a complete sample of the rock the drill has passed through. Recovering the broken, clay-rich vein material was a key objective of this program. Previous drilling programs reported core recoveries of approximately 50% or less, with fine material lost during drilling, particularly in the mineralized zones. We engaged Finland-based Arctic Drilling Company Oy Ltd to use HQ3 diamond drilling to recover a more continuous core sample. We are pleased that core recovery was at or close to 100% in most cases.”

The core contains both quartz veins and hydrothermal breccias, consistent with the epithermal gold-silver system. Observed textures in mineralized zones include crustiform-colloform chalcedonic quartz with plumose and moss textures, dark bands, and cockade-breccia textures. Aurania interprets these features as evidence of the upper boiling zone in a fossilized geyser system. The veins are known to be gold-bearing from previous drill campaigns, and boiling of fluids is considered the mechanism for precious-metal precipitation in the veins. In addition to the upper boiling zone model, fluid mixing is another probable gold-deposition mechanism given the association of mineralization with banded quartz, adularia, clays and silica. To gain a general understanding of quartz textures, please consider watching the following video interpretation by Dr. Gregg Morrison: Textural Zoning In Epithermal Quartz Veins with Gregg Morrison.

Dr. Keith Barron further commented, “Gregg tried unsuccessfully to convince me to do a PhD at the Pajingo gold mine in Queensland in 1988, and again I met with him in 2009 when he was at Fruta del Norte (FDN) in Ecuador. He is certainly one of the world’s experts on epithermal deposits and taught me a great deal. During the COVID shutdown in 2020, I recorded a series of “modules” on epithermal gold-silver deposits, and I consider it a Master Class for the layperson who wants a better understanding. Of course, in 2020, I had no inkling that Aurania would one day be exploring epithermals in Iceland! Straight Talk On Mining – Insights on mining from economic geologist Dr. Keith Barron.

These modules can be individually watched or binged together. Most are about 3.5 to 5 minutes long, but a few are longer. I have mentioned geologist Peter Grieve in one of them. Peter managed our drill program and logged the core for us at the Project, ably assisted by Icelandic geologist Miss Svava Ósk Árnadóttir. I worked with Peter previously in Ecuador, and it was great to interact with him again on the Project in Iceland.”

The core shows strong evidence of fault movement after mineralization. The mineralized zones, being the zone of weakness, have been sheared and granulated. The movement sheared and broke the quartz veins, commonly reducing them to fragments a centimetre or less in diameter within a clay-rich matrix. Diagnostic epithermal textures, however, remain clearly visible in the fragments, including intervals of classic epithermal colloform bandings. Figures 1 through 6 below illustrate both disrupted epithermal vein material and intact epithermal quartz veins.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/2477/318641_auriania1_550.jpg

Figures 1 (left) and 2 (right): Epithermal quartz veins disrupted and brecciated by post-mineral fault movement. The epithermal character is clearly visible in the fragments. The clay gouge can contain fine-grained pyrite. Core diameter is 68 mm.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2477/318641_auriania1.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/2477/318641_bf08cacaf4e47b0a_003full.jpg

Figure 3: “Classic” intact epithermal quartz vein showing rhythmic colloform banding and multiple zones of hydrothermal brecciation. Core diameter is 68 mm.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2477/318641_bf08cacaf4e47b0a_003full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/2477/318641_bf08cacaf4e47b0a_004.jpg

Figure 4: Brecciated quartz-adularia vein clasts in a hydrothermal breccia cemented by later chalcedonic and fine crystalline quartz. Core diameter is 68 mm.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2477/318641_bf08cacaf4e47b0a_004full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/2477/318641_aurania5_550.jpg

Figure 5 (left): Dark banding in quartz. Figure 6 (right): Moss texture in fine grained silica.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2477/318641_aurania5.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/2477/318641_bf08cacaf4e47b0a_007full.jpg

Figure 7: Core photographs of the Thor vein zone intersection in hole TARU2026-06. The vein zone (interval 17.50 m to 19.90 m, not true width) is comprised of epithermal veins, vein fragments and hydrothermal breccias, together with clay-rich material produced by later fault movements, also containing vein clasts.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2477/318641_bf08cacaf4e47b0a_007full.jpg

About Thormódsdalur
The Thormódsdalur project is located approximately 20 kilometres east of Reykjavík, Iceland, and is held by Iceland Resources ehf (“IR”), a wholly owned subsidiary of St-Georges Eco-Mining Corp. (CSE: SX) (“St-Georges”). In April 2026, Aurania entered into an option agreement with St-Georges and IR to collaboratively define and execute a phased exploration program to advance the Project toward an initial modern resource definition. The key terms of the option agreement are described in the Company’s news release dated April 28, 2026.

Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Aurania’s VP Exploration, Mr. Jean-Paul Pallier, MSc, who is not independent of the Company. Mr. Pallier is a designated EurGeol by the European Federation of Geologists and a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

About Aurania
Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition, and exploration of mineral property interests, with a focus on precious metals and critical energy in Europe 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
[email protected]

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

Forward-Looking Statements

This news release contains forward-looking information as such term is defined in applicable securities laws, which relate to future events or future performance and reflect management’s current expectations and assumptions. The forward-looking information includes: statements regarding the Project, and that the drill core samples have been sent for assaying and are expected in November, statements regarding the option agreement with St-Georges and IR and the goals, plans and objectives set out thereunder, anticipated exploration programs, timing of activities, the potential to advance the 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 that market conditions will be favourable. 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; risks associated with conducting operations in a foreign jurisdiction, including currency fluctuations, foreign regulatory requirements, and cross-border logistical challenges; 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.