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.
1Q 2026 financial results. InPlay Oil generated first-quarter 2026 adjusted funds flow (AFF) of C$30.1 million, or C$1.08 per share, above our estimate of C$27.4 million, or C$0.98 per share. Oil and natural gas sales revenue totaled C$88.4 million, ahead of our C$79.9 million forecast, due to stronger commodity prices. First quarter production averaged 18,337 barrels of oil equivalent per day (boe/d), modestly below our estimate. Compared to the prior year period, production, oil and natural gas sales revenue, operating income, and AFF increased 127.1%, 102.0%, 116.9%, and 79.6%, respectively. Average production more than doubled due to the successful integration of the company’s 2025 acquisition and strong results from its Pembina drilling program. Liquids production increased significantly, improving the overall production mix and supporting stronger corporate netbacks.
Outlook for the remainder of 2026. Supported by stronger oil prices, the Company increased its adjusted funds flow and free adjusted funds flow guidance to a range of C$143.0 to C$151.0 million, compared to previous expectations of C$122.0 million to C$129.0 million, while maintaining a disciplined production target of 18,600 to 19,200 boe/d and capital spending in the range of C$66.0 to C$74.0 million.
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Building an integrated North American phosphate supply platform. First Phosphate is focused on extracting and purifying high-purity igneous phosphate for the lithium iron phosphate (LFP) battery industry. The company is advancing a vertically integrated platform in the Saguenay–Lac-Saint-Jean region of Quebec, targeting the eventual downstream production of purified phosphoric acid and cathode active material (CAM) used in LFP batteries. The company’s flagship Bégin-Lamarche Project is a high-purity igneous phosphate deposit that hosts a pit-constrained indicated mineral resource of 41.5 million tonnes grading 6.49% phosphorus pentoxide and a pit-constrained inferred mineral resource of 214.0 million tonnes grading 6.01%.
Growing Demand for LFP Batteries. The LFP battery market is expanding rapidly due to growing demand from electric vehicles, energy storage, artificial intelligence data centers, and industrial applications. Phosphate accounts for approximately 60% of LFP battery chemistry, while lithium accounts for only 4%. Because only about 5% of global phosphate deposits are igneous in nature, these high-purity deposits are valuable strategic assets for North American battery production.
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Toronto, Ontario–(Newsfile Corp. – May 8, 2026) – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) (“Aurania” or the “Company”) is pleased to announce that it has closed the previously announced option agreement (the “Agreement”) dated April 27, 2026 (the “Execution Date”) with St-Georges Eco-Mining Corp (“St-Georges”) (CSE: SX), and its wholly owned subsidiary Iceland Resources ehf (“IR”), to work collaboratively to define and execute a phased exploration program aimed at advancing the Thormodsdalur gold project (“Thor’s Valley” or the “Project”), towards initial modern resource definition. Please see the Company’s press release dated April 28, 2026 for further details on the Project and the Agreement.
Pursuant to the terms of the Agreement, Aurania issued to St. Georges 988,359 common shares (the “Shares”) at a deemed price per Share of C$0.2068 for a total value of C$204,375 (US$150,000). The deemed price per Share is equal to the volume weighted average price of the Shares on each business day commencing on the Execution Date and ending on the last business day prior to the closing date of the Agreement. The Shares issued to St. Georges are subject to a hold period of four months and one day from the date of issuance.
To exercise the option to earn a 70% interest in the Project (the “First Option”), Aurania must incur exploration expenditures of US$5 million over four years as follows:
At least US$500,000 prior to the first anniversary of the Execution Date;
At least US$1,000,000 prior to the second anniversary of the Execution Date;
At least US$1,500,000 prior to the third anniversary of the Execution Date;
At least US$2,000,000 prior to the fourth anniversary of the Execution Date;
Upon completing the First Option, St-Georges will have the option to choose between maintaining a 30% interest in the Project through a joint venture or retain an up to 3% net smelter return royalty on the Project (the “Royalty”), with such Royalty to be reduced as necessary such that the aggregate royalty burden on the Project shall not exceed 3%, inclusive of any pre-existing NSR royalties. In the event the Royalty is granted, Aurania shall have the right to repurchase 1% of the Royalty for US$1,500,000, in cash or Shares (subject to the approval of the TSX Venture Exchange if the buy back will be made in Shares), at Aurania’s sole discretion, at any time prior to the one year anniversary of commercial production at the Project.
If St. Georges elects to retain the Royalty, Aurania will have the right, in its sole discretion, to increase its interest in the Project to 100% by incurring an additional US$2,000,000 of exploration expenditures prior to the 5th anniversary of the Execution Date.
About St-Georges Eco-Mining Corp. St-Georges develops new technologies and holds a diversified portfolio of assets and patent-pending Intellectual Property within several highly prospective subsidiaries including: EVSX, a leading North American advanced battery processing and recycling initiative; St-Georges Metallurgy, with metallurgical R&D and related IP, including processing and recovering high grade lithium from spodumene; Iceland Resources, with high grade gold exploration projects including the flagship Thor Project; H2SX, developing technology to convert methane into solid carbon and turquoise hydrogen; and Quebec exploration projects including the Manicouagan and Julie nickel, Copper and PGE critical mineral projects on Quebec’s North Shore, and Notre-Dame niobium Project in Lac St Jean.
About Iceland Resources Iceland Resources is an Icelandic mineral exploration company focused on early-stage precious metal projects, including Thormodsdalur. The company’s exploration strategy emphasizes systematic, data-driven evaluation of prospective targets in under-explored volcanic terrains.
About Aurania Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition, and exploration of mineral property interests, with a focus on precious metals and critical energy in Europe and abroad.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
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 terms of the Agreement, earn-in requirements, 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 the market. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. Risk factors that could cause actual results to differ materially from the results expressed or implied by the forward-looking information include, among other things: failure to achieve the anticipated results, incorrect assumptions made in the initial evaluation of the Project, failure to identify mineral resources; failure to convert estimated mineral resources to reserves; the inability to complete a feasibility study which recommends a production decision; the preliminary nature of metallurgical test results; the inability to recover and process mineralization using known mining methods; the presence of deleterious mineralization or the inability to process mineralization in an environmentally acceptable manner; commodity prices, supply chain disruptions, restrictions on labour and workplace attendance and local and international travel; a failure to obtain or delays in obtaining the required regulatory licenses, permits, approvals and consents; an inability to access financing as needed; a general economic downturn, a volatile stock price, labour strikes, political unrest, changes in the mining regulatory regime governing Aurania; a failure to comply with environmental regulations; a weakening of market and industry reliance on precious metals and base metals; and those risks set out in the Company’s public documents filed on SEDAR+. Aurania cautions the reader that the above list of risk factors is not exhaustive. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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 Commercialization. Comstock continued to advance the commercialization of its solar panel recycling platform during the first quarter of 2026. The Company substantially completed installation of major equipment at its first industry-scale recycling facility in Silver Springs, Nevada, and continued commissioning activities ahead of expected operations in the second quarter.
Improved Financial Strength. Comstock significantly strengthened its balance sheet and liquidity through a successful oversubscribed equity offering. The Company ended the first quarter with approximately $53.0 million in cash and no remaining debt obligations. As of May 5, the company reported cash in the amount of $44.3 million.
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Permitting Progress. Century Lithium announced significant progress in the federal permitting process for its wholly owned Angel Island Lithium Project in Nevada. The company submitted a Draft Mine Plan of Operations to the U.S. Bureau of Land Management and executed a Memorandum of Understanding with the agency to coordinate responsibilities during the National Environmental Policy Act review process. The submission marks an important milestone that advances the project toward a formal environmental analysis and broader regulatory review.
Next Steps. Century expects to receive initial feedback from the Bureau of Land Management within the next month as it works toward completion of the final Mine Plan of Operations. Angel Island has also been designated as a Transparency Project under the federal FAST 41 program, which supports streamlined permitting oversight. Alongside federal permitting efforts, Century Lithium continues to advance state and local permitting, engineering, infrastructure planning, and research initiatives aimed at improving project economics and attracting potential funding opportunities.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Drilling continues to reveal exceptional grades. Power Metallic Mines reported another strong set of drill results from the Lion Zone, highlighted by Hole PML 26-095, which returned 22 meters grading 11.46% copper equivalent, including two ultra high-grade intervals above 18% copper equivalent. The results reinforce the Lion Zone as an emerging polymetallic discovery with grades that exceed global copper mining averages.
New results confirm the growing scale of the deposit. The latest drilling confirms both the continuity and expansion potential of the deposit, with high-grade mineralization extending from near surface to depths of roughly 600 meters. This is important as the company advances toward its inaugural Mineral Resource Estimate expected in the third quarter of 2026, as strong continuity and scale could materially enhance future project economics and valuation.
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.
TORONTO, May 6, 2026 /CNW/ – Power Metallic Mines Inc. (the “Company” or “Power Metallic”) (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV1) is pleased to provide additional assays from its winter 2026 drill program.
Lion Zone MRE In-fill program
Figure 1 – Lion Zone MRE Drill holes reported in this news release (CNW Group/Power Metallic Mines Inc.)Figure 2 – Location of Drill holes reported in this news release (CNW Group/Power Metallic Mines Inc.)
Additional drill holes continued to add and refine the high-grade Lion Zone ahead of the 2026 Mineral Resource Estimate (MRE). The infill drill holes in this release cover approximately 560 m down plunge extent from the core of the Lion Zone (PML-26-095) to central southwestern Lion area (PML-26-069) (Figure 1). These holes highlight both the robust near surface mineralization as well as returning the deepest high-grade intercept at Lion. These holes will be incorporated into future mineral resource estimates and highlight the potential for open pit development.
Continued evolution and support of the modelled interpretation of the Lion Zone is evidenced by PML-26-095 which intersected the interpreted core of the Lion Zone with wide intersections of high-grade copper near surface with 22.00 m @ 11.46% CuEqRec1 including 6.50 m @ 18.59% CuEqRec1 and including 4.00 m @18.62%CuEqRec1 (Table 1).
Hole PML-26-069 tested the zone approximately 560 m south-southwest down plunge of PML-26-095 at a vertical depth of 600 m containing a moderate grade of 6.58 m @ 4.00% CuEqRec1 including a high-grade interval of 2.82 m @ 8.26% CuEqRec1.
Table 1: Lion Results – Winter 2026
Hole
From
To
Length
Au
Ag
Cu
Pd
Pt
Ni
CuEq Rec*
(m)
(m)
(m)
(g/t)
( g/t )
( %)
(g/t)
( g/t )
( %)
( %)
LION MRE
PML-26-069
674.18
680.76
6.58
0.36
7.76
1.43
4.31
0.61
0.12
4.00
Including
674.18
677.00
2.82
0.48
13.40
2.94
9.67
1.40
0.19
8.26
PML-26-095
155.00
177.00
22.00
2.82
23.37
4.92
4.79
5.12
0.27
11.46
Including
155.00
159.00
4.00
0.60
44.95
8.62
4.76
18.18
0.45
18.62
And Including
160.50
167.00
6.50
1.15
42.88
9.41
11.69
5.98
0.56
18.59
And Including
172.00
175.00
3.00
17.12
11.79
3.41
2.27
0.04
0.09
17.12
Note: Reported length is downhole distance; true width based on model projections is estimated as 85% of downhole length
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).
Exploratory Drilling – East of Tiger
Drill holes PML-26-065, and -076, located to the east of Tiger (Figure 2), were designed to test modeled anomalies derived from the 2025 airborne VTEM survey. Both holes hit anomalous mineralization of sub-economic grades including 1 m of 0.19% Cu at 39.5-40.5 m and 1 m of 0.81 g/t Pt at 96.5-97.5m (PML-26-065). PML-25-076 displayed Lion style assemblages of Au-Cu-Ni-Pd-Pt from 207-233.5 m, averaging 0.1% CuEq.
Power Metallic is expecting more assay results from the MRE drilling and regional exploration in the weeks to come.
“The Lion Zone continues to deliver high grade intersections that are more than an order of magnitude beyond the grade of the average producing copper mine. Hole PML-26-095 represents our second-best intersection to date. Results demonstrate that both grade and thickness are being maintained and, in places, increasing as we advance toward our inaugural Mineral Resource Estimate in the third quarter of 2026. Lots more to come!” commented Terry Lynch, CEO & Director.
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.
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.
SOURCE Power Metallic Mines Inc.
For further information on Power Metallic Mines Inc., please contact: Duncan Roy, VP Investor Relations, 416-580-3862, [email protected]
When a subsidiary of one of the world’s most respected gold miners pivots to phosphate, the market listens. That’s exactly what happened Monday when Avenir Minerals Limited — established as a subsidiary of Agnico Eagle Mines — announced a definitive agreement to acquire Fox River Resources Corporation (OTCQX: FXRVF) in an all-cash deal valued at approximately C$94.3 million.
Fox River shareholders will receive C$1.10 per share, representing a 20% premium to the stock’s 30-day volume-weighted average price as of May 1, 2026. The Fox River board unanimously recommended shareholders vote in favor of the transaction, and insiders holding roughly 23.5% of shares outstanding have already signed voting support agreements. Asset manager Adrian Day Asset Management, controlling approximately 14.7% of shares, has also committed to vote in favor. The deal is expected to close in early Q3 2026, pending court and shareholder approval.
The target asset is the Martison Phosphate Project near Hearst, Ontario — a high-grade, large-scale igneous phosphate deposit designed as a vertically integrated operation capable of producing domestic phosphate fertilizers as well as purified phosphoric acid (PPA) for the lithium iron phosphate (LFP) battery industry. A preliminary economic assessment completed in April 2022 underpins the project’s economic viability.
Avenir’s rationale is straightforward: secure a platform-level entry into critical minerals with scale, infrastructure proximity, and dual-market optionality. The Martison project sits at the intersection of two secular demand drivers — food security and the energy transition — and that combination is increasingly rare and valuable.
The Ripple Effect: First Phosphate Catches a Bid
The Fox River deal is already sending a signal to the broader igneous phosphate sector. First Phosphate Corp. (CSE: PHOS | OTCQX: FRSPF) — the most advanced pure-play igneous phosphate developer in North America — is trading up roughly 16% today as investors connect the dots.
First Phosphate is developing the Bégin-Lamarche Property in Saguenay–Lac-Saint-Jean, Quebec, a high-grade igneous phosphate deposit hosting 41.5 Mt Indicated at 6.49% P2O5 and 214 Mt Inferred at 6.01% P2O5, targeting an estimated 24-year mine life. Unlike sedimentary phosphate, igneous deposits produce low-impurity phosphate — the preferred input for battery-grade PPA used in LFP cathode production. The company recently completed final warrant exercises generating roughly C$3 million in gross proceeds and carries over C$20 million in cash with no debt.
The broader macro backdrop gives this deal its urgency. LFP batteries now account for roughly 60% of global battery chemistry deployment, up from just 20% in 2020. China controls nearly all of the world’s LFP production capacity. With phosphate now on the U.S. critical minerals list and North American governments actively funding domestic battery supply chains, high-quality igneous phosphate deposits outside of China are becoming strategic assets — not just mining plays.
The Avenir-Fox River transaction is a data point that validates the thesis. A major mining conglomerate, known for capital discipline, deploying nearly C$100 million into an early-stage igneous phosphate project signals institutional conviction that the phosphate supply gap is real and the window to secure quality assets is narrowing.
First Phosphate’s 16% move today reflects how quickly institutional sentiment can shift when a credible acquirer puts real capital behind an asset class — and igneous phosphate in Canada just got a very public vote of confidence.
May 5, 2026 – Vancouver, Canada – Century Lithium Corp. (TSXV: LCE) (OTCQX: CYDVF) (Frankfurt: C1Z) (“Century Lithium” or the “Company”) is pleased to provide an update on federal permitting for the Company’s 100%-owned Angel Island Lithium Project (“Angel Island” or the “Project”) in Nevada, USA. The Company has submitted a Draft Mine Plan of Operations (“Draft PoO”) to the U.S. Bureau of Land Management (“BLM”), which is presently under review. On April 22nd, 2026, the Company signed a Memorandum of Understanding (“MOU”) with the BLM that defines our respective roles during the National Environmental Policy Act (“NEPA”) permitting process.
“Submission of the Draft PoO is a significant step in the NEPA process for Angel Island,” said Bill Willoughby, President & CEO of Century Lithium. “It initiates a coordinated review among the Company, the BLM, and the third-party contractor to ensure the necessary information is incorporated into the final PoO, which serves as the proposed action for the NEPA analysis.”
Next Steps
Within the next month, the Company expects to receive initial comments from the BLM to assist in completing the final PoO. Angel Island is a Transparency Project under the Federal Permitting Council’s FAST-41 program. Details on the permitting schedule can be found on the Permitting Dashboard for Federal Infrastructure Projects.
In parallel with federal permitting, the Company is advancing the workstreams identified in the 2026 Feasibility Study, including state and local permitting, pre-construction and detailed engineering, and definition of supporting project infrastructure The Company is also pursuing research and development initiatives with the potential to attract funding and to even further improve the economics and design of Angel Island.
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 for the on-site production of battery-grade lithium carbonate 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 engineered 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”.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
This release contains certain forward-looking statements within the meaning of applicable Canadian securities legislation. In certain cases, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” and similar expressions suggesting future outcomes or statements regarding an outlook.
Forward-looking statements relate to any matters that are not historical facts and statements of our beliefs, intentions and expectations about developments, results and events which will or may occur in the future, without limitation, statements with respect to the potential development and value of the Project and benefits associated therewith, statements with respect to the expected project economics for the Project, such as estimates of life of mine, lithium prices, production and recoveries, capital and operating costs, IRR, NPV and cash flows, any projections outlined in the Feasibility Study in respect of the Project, the permitting status of the Project and the Company’s future development plans.
These and other forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause their actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein.These risks include those described under the heading “Risk Factors” in the Company’s most recent annual information form and its other public filings, copies of which can be 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.
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 drill results confirm core mineralization. Power Metallic reported significant intercepts from the Lion Zone, including 17.45 meters at 9.47 percent copper equivalent in Hole PML 26-094 and 39 meters at 5.66 percent in Hole PML 26-101, both of which included higher grade sub-intervals. The assay results highlight the strength and continuity of near-surface mineralization within the core of the deposit.
Infill drilling supports resource growth and development potential. The Winter 2026 program is successfully defining mineralization across approximately 200 meters of strike length and supports the existing geological model. The results are expected to contribute to a 2026 Mineral Resource Estimate and may help advance portions of the deposit toward an Indicated classification suitable for potential open-pit mining.
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Warrant exercise enhances capital structure and financial flexibility. First Phosphate Corp. announced the receipt of approximately C$3.07 million following the full exercise of its remaining warrants at C$1.25 per share, marking the exercise of all outstanding external dilutive instruments. This final round of warrant exercises represents a vote of confidence from shareholders and establishes a valuation benchmark for the company. As a result, the company’s capital structure is now notably streamlined, with no remaining dilutive securities other than those held by staff, management, and board members.
Strong balance sheet and funding provide a clear development runway. The company is in a strong financial position with no debt and benefits from a significant C$16.7 million non-repayable and non-dilutive contribution from the Government of Canada. Combined with funds raised since June 2022 totaling approximately C$62.5 million, First Phosphate has built a solid treasury exceeding C$20 million, placing it among a limited group of junior companies with comparable financial strength. This capital position provides a funding runway to advance development activities through to a final investment decision expected within approximately one and a half years.
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.
May 4, 2026 – Vancouver, Canada – Century Lithium Corp. (TSXV: LCE) (OTCQX: CYDVF) (Frankfurt: C1Z) (“Century Lithium” or the “Company”) is pleased to announce the following management appointments. These individuals will reinforce the Company’s technical, environmental, and operational capabilities as it advances its 100%-owned Angel Island Lithium Project (“Angel Island”) in Esmeralda County, Nevada, USA through permitting and pre-construction development programs.
“Century Lithium’s leadership and success to date in bringing forward our Angel Island lithium project has been greatly due to the expertise and contributions of the individuals recognized today,” said Bill Willoughby, President and CEO of Century Lithium. “These appointments reflect our commitment to continue to advance Angel Island and the Company to achieve the milestones ahead, while driving active engagement with our communities, regulators, and investors.”
Management Appointments
Todd Fayram was appointed CTO of the Company, effective April 9, 2026. Mr. Fayram is a metallurgical engineer with over 40 years of experience leading process design, construction, start-up, and operations improvement on mineral projects across North and South America. He is a Qualified Person under NI 43-101 through Registered Member status with MMSA, and a member of SME and CIM. He holds a Master of Science (M.Sc.) degree in Mineral Processing/Metallurgical Engineering and a Bachelor of Science (B.Sc.) degree in Mineral Processing Engineering, Metallurgy from Montana Technology University. Since 2018, Mr. Fayram has played a key role in developing the Company’s chloride leaching process, related intellectual property, and the engineering and operations programs that have advanced Angel Island, joining the Company in 2023 as Senior Vice President, Metallurgy. As CTO, he will lead the technical direction of the Company’s metallurgy, process development, engineering, and the continued advancement of Century Lithium’s patent-pending chloride leaching and direct lithium extraction flowsheet.
Daniel Kalmbach is appointed Vice President, Exploration and Resource Development. Mr. Kalmbach is a geologist with 26 years of experience in the minerals industry. Since 2017, Mr. Kalmbach has led the Company’s mineral resource development, technical reporting, and permitting activities for Angel Island. Mr. Kalmbach holds a B.Sc. degree in Geology from the University of Idaho and is a Certified Professional Geologist with the American Institute of Professional Geologists. He is a Qualified/Competent Person under CRIRSCO-recognized reporting standards. He will lead the Company’s geological operations including exploration and resource development efforts, overseeing resource modeling, drill program design, and resource expansion at Angel Island and across the Company’s portfolio.
Teresa Conner is appointed Director of Permitting and Environmental Affairs. Ms. Conner has 45 years of experience in both the mining and oil and gas industries. Since 2021, Ms. Conner has led the Company’s permitting activities and strategy, environmental planning, regulatory coordination, and compliance activities for Angel Island. Ms. Conner holds a B.Sc. degree in Mining and Geological Engineering and a M.L.S. degree in Legal Studies with a focus in Mining Law and Policy from the University of Arizona. Ms. Conner is a member of the Society for Mining, Metallurgy, and Exploration, and a member and former Trustee of the American Exploration & Mining Association. Ms. Conner brings extensive experience in permitting, federal land management coordination, and environmental baseline programs in the western United States. She will lead the Company’s permitting activities and engagement with public and regulatory interests.
Adam Knight is appointed General Manager. Mr. Knight is a mining engineer with 31 years of experience in the mining industry. Since 2020, Mr. Knight has managed project operations and field programs supporting the pilot plant program, infrastructure development, mine planning, and community liaison for Angel Island. Mr. Knight holds a B.Sc. degree in Mining Engineering from the University of Nevada, Reno and is a Licensed Professional Engineer in the State of Nevada. He is a Qualified/Competent Person under CRIRSCO-recognized reporting standards. He will oversee the implementation of Angel Island’s development plan, including coordination of engineering, procurement, and construction activities, contractor management, and project controls as the Company progresses toward construction readiness.
Richard Alberthal is appointed Manager, Technical Services. Mr. Alberthal has over 30 years of experience in the mechanical and process disciplines, including leadership roles in management, design and operations. Since 2020, Mr. Alberthal has worked directly with the construction and operation of the Company’s Pilot and Demonstration Plants, and the chlor-alkali and lithium carbonate processes for Angel Island. He will oversee technical services for Angel Island, including process plant commissioning readiness, operator training, and integration of the lithium carbonate and chlor-alkali process flowsheets developed for Angel Island.
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 for the on-site production of battery-grade lithium carbonate 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”.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
This release contains certain forward-looking statements within the meaning of applicable Canadian securities legislation. In certain cases, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” and similar expressions suggesting future outcomes or statements regarding an outlook.
Forward-looking statements relate to any matters that are not historical facts and statements of our beliefs, intentions and expectations about developments, results and events which will or may occur in the future, without limitation, statements with respect to the potential development and value of the Project and benefits associated therewith, statements with respect to the expected project economics for the Project, such as estimates of life of mine, lithium prices, production and recoveries, capital and operating costs, IRR, NPV and cash flows, any projections outlined in the Feasibility Study in respect of the Project, the permitting status of the Project and the Company’s future development plans.
These and other forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause their actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein.These risks include those described under the heading “Risk Factors” in the Company’s most recent annual information form and its other public filings, copies of which can be under the Company’s profile at www.sedarplus.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.
TORONTO, May 4, 2026 /CNW/ – Power Metallic Mines Inc. (the “Company” or “Power Metallic”) (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV1) is pleased to provide additional assays from its winter 2026 drill program.
Lion Zone MRE Infill Program
Drilling continued to define the high-grade Lion Zone in preparation for a 2026 Mineral Resource Estimate (MRE). The infill drill holes in this release are for holes that cover approximately 200 m of strike length from the middle core of the Lion Zone (PML-26-094) to the western edge (PML-26-104), defining mineralization at a vertical depth of approximately 100 m below surface (Figure 1). These holes will be important for future mineral resource estimates to an Indicated Resource classification, potentially for open pit exploitation.
The 2026 winter drill campaign continues to support the modelled interpretation of the Lion Zone based on earlier wider spaced drilling and includes PML-26-094 which intersected the interpreted core of the Lion Zone and adds further support to wide intersections of high-grade copper near surface with 17.45 m @ 9.47% CuEqRec1 including 6.30 m @ 17.91% CuEqRec1 (Table 1).
Hole PML-26-101 tested the zone approximately 100 m east of PML-26-094 at a slightly deeper vertical depth and contained high grade over a very wide intersection with 39.00 m @ 5.66% CuEqRec1 including 9.20 m @ 15.18% CuEqRec1. A further 100 m west hole PML-26-104 tested the western edge of the Lion Zone and intersected 7.40 m @ 1.07% CuEqRec1 and confirmed the expected mineralization modeled from the wider spaced earlier drilling in this area.
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).
Figure 1 – Lion Drill holes reported in this news release (CNW Group/Power Metallic Mines Inc.)
Power Metallic is expecting more assay results from the MRE drilling and the regional exploration in the coming days and weeks.
Exploratory Drilling – Between Lion and Tiger
Drill holes PML-26-071, 074, and 078 were designed to test relatively shallow depths to explore for additional zones of mineralization between Lion and Tiger. While none of the holes hit sufficiently wide zones of mineralization, narrow zones included 0.8 meters @ 0.33% Cu, 0.78 g/t Pd, and 0.35 g/t Pt in hole PML-26-074, indicating the mineralizing structures are still present in the Lion to Tiger area.
“The heart of Lion continues to deliver impressive results. Both of these holes would have broken into our top six holes at the Lion Zone. We continue to build towards what we believe will be a very positive Mineral Resource Estimate in third quarter of this year,” commented Terry Lynch, CEO & Director.
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 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.
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.
