Shares of several US-listed companies with exposure to Greenland exploded higher Monday after the United States, Denmark, and Greenland reached an agreement on expanded American security arrangements on the Arctic territory. Greenland Energy surged more than 165% in premarket trading, Greenland Mines climbed over 110%, and Critical Metals Corp rose nearly 30%. The moves reflect genuine excitement about what this agreement could eventually unlock, though the timeline and feasibility of actually extracting Greenland’s mineral wealth remain far less certain than the stock charts suggest.
The framework, announced September 18 and expected to be formally signed this week during the United Nations General Assembly, expands US defense construction rights on the island, granting Washington unilateral authority to build and expand military infrastructure without case-by-case approval from Copenhagen or Nuuk. It also guarantees permanent basing, transit, and overflight rights, while formally restricting adversary nations, specifically China and Russia, from establishing military positions or making what the agreement calls sensitive investments, a provision that appears squarely aimed at critical minerals and mining. Importantly, Greenland’s sovereignty remains fully with the Kingdom of Denmark under the deal, and the agreement still requires parliamentary approval before taking effect, meaning this is a framework, not yet a finalized, binding arrangement.
The strategic logic is straightforward on paper. Greenland sits on substantial untapped reserves of rare earth elements, the materials essential to defense systems, electric vehicles, and advanced electronics, and a security agreement that locks out Chinese and Russian involvement positions the island as a potential Western alternative to China’s current dominance of the global rare earth supply chain, a theme we detailed closely when covering Energy Fuels’ recent mine-to-magnet acquisition earlier this year.
The three companies driving today’s rally each have a distinct claim to that opportunity. Critical Metals Corp is developing the Tanbreez rare earths mine in southern Greenland and already holds a 15-year offtake partnership with magnet manufacturer REalloys covering up to 15% of the project’s future production. Greenland Mines is advancing the Skaergaard project, one of the world’s largest undeveloped palladium, gold, and platinum deposits, alongside a separate neodymium-praseodymium rare earths project. Greenland Energy is pursuing oil and gas exploration rather than rare earths specifically, though it recently delayed its own drilling plans after Greenland’s government issued a formal warning to its joint venture partner over bringing equipment ashore without proper authorization, a reminder that operating in Greenland carries real regulatory friction even with Washington’s backing.
Independent industry analysts have raised serious and specific concerns about how quickly, or whether, any of this translates into actual production. Multiple recent assessments from mining and metals consultancies note that Greenland’s rare earth deposits face unresolved processing economics, significant Arctic infrastructure deficits, no existing non-Chinese separation capacity anywhere on the island, and in some cases genuine radioactive waste concerns tied to the specific mineralogy of these deposits. Outside the capital city of Nuuk, much of Greenland depends on ships, aircraft, and dog sleds for basic transport, and its harsh climate and remoteness substantially raise the cost of any extraction effort. As several analysts have put it, security guarantees may attract Western capital, but they cannot substitute for proven metallurgy, functioning ports, reliable power, skilled labor, and an actual mine-to-magnet supply chain, all of which still need to be built essentially from scratch.
Greenland is not the only place this strategic push is playing out, and investors don’t need direct exposure to the island itself to participate in the broader theme. A wider push toward allied, non-Chinese critical mineral development has been building across North America for the past several years, with junior mining companies in the United States and Canada working to establish domestic and allied supply chains for materials the world currently sources overwhelmingly from China. Companies like Century Lithium Corp and Tectonic Metals Inc, both developing projects in North American jurisdictions, are not connected to today’s Greenland agreement in any way, but they operate in the same strategic category, positioning allied-nation mineral resources as an alternative to Chinese dominance, that is fueling investor enthusiasm for Greenland right now.
For investors, today’s moves are a clear example of a security and geopolitical catalyst driving share prices far ahead of underlying commercial reality. That doesn’t mean the opportunity isn’t real, both the Trump administration’s strategic interest and the individual companies’ project economics could genuinely develop over time. But the gap between a triple-digit percentage stock move today and a functioning rare earth supply chain years from now is substantial, and investors should weigh the extraction and infrastructure challenges just as carefully as the geopolitical tailwind.
Saguenay, Quebec–(Newsfile Corp. – September 21, 2026) – First Phosphate Corp. (NASDAQ: PHOS) (CSE: PHOS) (OTCQX: FRSPF) (FSE: KD0) (“First Phosphate” or the “Company“) is pleased to announce that the Company’s Bégin-Lamarche Igneous Phosphate Deposit has been subject of a peer-reviewed study in Ore Geology Reviews (published on ScienceDirect), a premier scientific journal focusing on ore genesis and exploration.
The study highlights how economic, phosphate-rich layers in the Bégin-Lamarche deposit were formed. Results indicate these layers are low in chlorine and other trace elements making them suitable as a potential high-purity source of phosphate for production of purified phosphoric acid (“PPA”), a critical precursor in the manufacture of lithium iron phosphate (“LFP”) battery cathode active material.
The full peer-reviewed publication is accessible via ScienceDirect at:
The research, authored by scientists from Queen’s University and Université du Québec à Chicoutimi (UQAC), focuses on the geological characterization of the Mountain, North and South Zones of the Company’s Bégin-Lamarche igneous phosphate deposit, part of the 1.14 Ga Lac-Saint-Jean Anorthositic (“LSJA”) Suite – the largest anorthosite complex in the world.
Through detailed mineralogical, petrological and geochemical analysis, the study further reinforces the strategic importance of Québec igneous phosphate as a secure North American feedstock source capable of supporting First Phosphate’s vertical integration strategy along the LFP battery supply chain.
The conclusions of the study are summarized below:
The Bégin-Lamarche deposit is hosted in massif anorthosite and associated nelsonite and oxide-apatite-mafic to ultramafic rocks of the Lac-Saint-Jean Anorthositic Suite. Apatite represents the primary phosphatic mineralization confirming the magmatic origin and geological continuity of the phosphate-bearing zones across the Mountain, North and South Zones.
Analytical results demonstrate that the phosphate mineralization is capable of producing a high-grade phosphate concentrate. Testing indicates concentrate levels around ~40% P₂O₅, which aligns above global averages for igneous phosphate concentrates and supports suitability for PPA production.
Geochemical characterization demonstrates low levels of deleterious trace elements unlike those which are commonly associated with sedimentary phosphate deposits. Such low concentrations of deleterious trace elements enhance the potential for producing high-purity PPA suitable for LFP cathode active material applications.
The geometry, thickness and near-surface occurrence of certain phosphate layers suggest favorable conditions for potential open-pit mining scenarios, subject to further engineering and mine planning studies, thereby supporting the long-term development potential of the deposit.
These findings provide the foundation for the exploration of other igneous phosphate layers throughout the Québec anorthosite that are suitable for LFP battery production. Results may apply to other phosphatic anorthosites globally offering new insights for high-purity phosphate resource development.
Qualified Person
The scientific and technical disclosure for First Phosphate included in this news release has been reviewed and approved by Steeve Lavoie, P.Geo. Mr. Lavoie is Chief Geologist of First Phosphate and a Qualified Person under National Instrument 43-101 – Standards of Disclosure of Mineral Projects (“NI 43-101”).
About ScienceDirect
ScienceDirect, operated by Elsevier, is the premier platform for peer-reviewed scientific, technical and health literature. It provides access to millions of journal articles and book chapters across more than 3,000 peer-reviewed journals and tens of thousands of books. ScienceDirect supports interdisciplinary research and delivers trusted, high-quality scientific content to researchers, engineers, academics and industry professionals worldwide. Through advanced search tools and AI-powered features, ScienceDirect enables efficient discovery and exploration of validated scientific evidence to accelerate innovation and informed decision-making.
About First Phosphate Corp.
First Phosphate (NASDAQ: PHOS) (CSE: PHOS) (OTCQX: FRSPF) (FSE: KD0) is a mineral exploration and development and clean technology company dedicated to building and reshoring a vertically integrated mine-to-market supply chain for production of LFP batteries in North America. Target markets include energy storage, data centers, robotics, mobility, and national security. First Phosphate’s flagship Bégin-Lamarche property, located in Saguenay-Lac-Saint-Jean, Québec, Canada, represents a rare North American igneous phosphate resource producing high-purity phosphate characterized by very low levels of impurities.
Forward-Looking Information and Cautionary Statements
This press release contains certain statements and information that may be considered “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws. In some, but not necessarily all, cases, forward-looking statements and forward-looking information can be identified by the use of forward-looking words such as “expects,” “aims,” “anticipates” or “does not expect,” “should,” “is likely to,” “estimates,” “intends,” “assumes,” “anticipates” or “does not anticipate,” or “believes,” or variations of such words and phrases, or by statements indicating that certain actions, events or results “may,” “could,” “should,” “are likely to,” “will,” or “will be undertaken,” “occur,” or “be achieved,” and other similar expressions. Furthermore, statements in this press release that are not historical facts are forward-looking statements, including, but not limited to: expectations regarding the potential mineralization, geological merit and economic feasibility of the Company’s projects, including the layers’ suitability as a potential high-purity source of phosphate for the production of PPA, Québec igneous phosphate being a source capable of supporting First Phosphate’s vertical integration strategy into the LFP battery supply chain, the future production and grade of phosphate concentrate, the potential for producing high-purity phosphoric acid suitable for LFP cathode active material applications, favorable conditions for potential open-pit mining scenarios and the long-term development potential of the property. Although the Company believes that the expectations expressed in these forward-looking statements are based on reasonable assumptions, these statements are not guarantees of future performance, and actual results or developments may differ materially from those anticipated in the forward-looking statements. Factors that could cause actual results to differ materially from those expressed in the forward-looking statements include development and exploration successes, the continued availability of capital and financing, and general economic, market, or business conditions. These statements are based on a number of assumptions, including: that the engineering and construction schedules and capital costs associated with the Company’s exploration, development, and expansion projects are correctly estimated and will not be affected by unforeseen circumstances; the ability to obtain financing for the proposed activities on acceptable terms; the absence of a material deterioration in general commercial and economic conditions; the absence of significant delays in obtaining permits and other approvals; and the absence of significant disruptions affecting the Company’s operations or its ability to access the operating equipment, services, and supplies required for the project.in sufficient quantities and in a timely manner; the maintenance of inflation and project input prices at levels approximately in line with expectations; the ability to carry out exploration and development programs in accordance with the Company’s expectations; expectations regarding commodity prices, including assumptions concerning P2O5; the maintenance of the Company’s relationships with local municipalities and First Nations in accordance with its expectations; the maintenance of the Company’s relationships with its other partners and third-party suppliers in accordance with its expectations; and the maintenance of relationships with governments and government actions in accordance with the Company’s expectations. Investors are cautioned that these statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. The Company assumes no obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. All forward-looking information contained in this press release is subject to these cautionary statements.
Artemis Gold (TSXV: ARTG) has agreed to acquire Vista Gold (NYSE American, TSX: VGZ) in an all-stock transaction valued at approximately $427 million, the companies announced September 20, 2026. Under the deal, Vista Gold shareholders will receive 0.0966 Artemis Gold shares for each share they hold, implying a value of $2.83 per Vista Gold share, a 29% premium to Vista Gold’s 20-day volume-weighted average price and a 25% premium to its last closing price. The transaction is expected to close in January 2027, pending shareholder, court, and regulatory approval, including sign-off from Australia’s Foreign Investment Review Board.
The acquisition gives Artemis Gold full ownership of the Mt Todd gold project in Australia’s Northern Territory, a feasibility-stage development asset hosting 9.1 million ounces of measured and indicated gold resources plus 1.4 million ounces of inferred resources. Mt Todd already holds key permits for a 50,000 tonne per day processing facility, meaning the project arrives with major regulatory hurdles already cleared, a significant factor in its valuation. No cash or new debt is involved in the deal, and existing Artemis Gold shareholders will own approximately 95% of the combined company once it closes.
Importantly, Artemis Gold has been clear that this acquisition does not change its near-term priorities. The company’s Blackwater mine in British Columbia, specifically its Phase 1A and EP2 expansion projects, remains the primary focus and funding priority. Blackwater is expected to produce more than 500,000 ounces of gold annually with industry-leading costs following the completion of EP2 in mid-2028. Construction spending at Mt Todd is not expected to begin until after that Blackwater expansion is fully operational, meaning the two projects are sequenced rather than competing for capital simultaneously. Combined, Artemis Gold has outlined a pathway toward producing more than one million ounces of gold annually once both assets are fully developed.
For Vista Gold shareholders, the deal offers an immediate cash-free premium along with continued exposure to Mt Todd’s development, now backed by a management team with a demonstrated track record building large-scale gold mines, along with the financial strength of a larger, cash-generating producer rather than a single-asset developer.
This transaction reflects a broader pattern in the gold mining sector this year, as sustained strength in gold prices has made permitted, advanced-stage development assets increasingly valuable acquisition targets for producers with the balance sheet to fund construction, a dynamic we detailed when covering gold’s sharp rally earlier this year. For investors tracking the small and microcap mining space, this deal is a useful example of how a single-asset developer with strong technical merit but limited standalone funding capacity can create real shareholder value by combining with a larger, better-capitalized producer, rather than attempting to finance construction independently.
That dynamic extends well beyond this single transaction. Smaller precious metals developers such as Tectonic Metals, Aurania Resources, and Kuya Silver Corporation occupy a similar position in the market today, advancing early or mid-stage gold and precious metals projects with real technical merit but the same standalone funding constraints Vista Gold faced before this deal. As gold prices remain elevated, larger producers continue to have strong incentive to seek out exactly these kinds of development-stage assets, making consolidation activity like the Artemis-Vista transaction a trend worth watching rather than an isolated event.
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Swiss support adds another financing layer. First Phosphate has received a Letter of Support from Swiss Export Risk Insurance (SERV) for approximately US$212.5 million in potential financing tied to Swiss machinery, equipment, goods, and services for the Bégin-Lamarche mine and processing facility. The contemplated financing is based on an assumed US$250 million eligible Swiss export contract, with SERV prepared to consider financing 85% of the contract value.
European and G7 support is converging around the project. The SERV announcement follows EIFO’s earlier letter of intent for up to €170 million in guaranteed financing support, while the Canadian government’s G7 Critical Minerals Resilience and Production Alliance announcement also highlighted Danish support for the Bégin-Lamarche mine and Italian financial and industrial support for First Phosphate’s downstream phosphoric acid facility. Switzerland is not a G7 member, but SERV’s participation adds another significant European state-backed export finance institution to a project already receiving support through G7-related initiatives.
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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.
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
George Proost, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
A large copper resource with room to grow. We have initiated coverage of Kodiak Copper Corp. with an Outperform rating and a price target of C$2.10, or approximately US$1.50 per share. Kodiak’s 100%-owned MPD Copper-Gold Project in southern British Columbia contains 439.2 million tonnes of Indicated and Inferred Resources across seven deposits, all open to expansion. Resource growth and improved project definition could support a higher valuation against a favorable long-term outlook for copper.
Ketchan drilling supports higher-grade potential. Hole AG-26-019 returned 283.5 meters at 0.70% copper equivalent (CuEq) from 37.5 meters downhole, including 108 meters at 1.02% CuEq. The result highlights shallow mineralization that could improve the grade and confidence of the existing resource.
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.
Saguenay, Québec–(Newsfile Corp. – September 16, 2026) – First Phosphate Corp. (NASDAQ: PHOS) (CSE: PHOS) (OTCQX: FRSPF) (FSE: KD0) (“First Phosphate” or the “Company“) is pleased to announce that it has received a Letter of Support from Swiss Export Risk Insurance (“SERV”) for approximately USD 212.5 Million for the purchase of Swiss machinery and equipment for its igneous phosphate mine project, as well as goods and services for the construction of its processing facility in Saguenay-Lac-St-Jean, Quebec, Canada.
SERV is prepared to consider insurance/guarantees in support of a buyer credit financing based on an assumed eligible Swiss export contract value of USD 250 million where SERV would consider supporting a financed amount of approximately USD 212.5 million, corresponding to 85% of such contract value. Should the final eligible Swiss export contract value be higher, SERV would be prepared to consider a correspondingly higher financing amount.
In accordance with the prevailing OECD guidelines, SERV would be prepared to provide cover of up to 95% of the eligible financed amount. The financed amount may include up to 85% of the export contract value, eligible local costs of up to 50% of the export contract value, capitalized interest during construction, and the export credit agency premium.
A sufficient portion of the project is expected to be sourced from Switzerland to be eligible for SERV coverage. SERV may also seek reinsurance from other export credit agencies in respect of significant portions of the project sourced outside Switzerland.
About First Phosphate Corp
First Phosphate (NASDAQ: PHOS) (CSE: PHOS) (OTCQX: FRSPF) (FSE: KD0) is a mineral exploration and development and clean technology company dedicated to building and reshoring a vertically integrated mine-to-market supply chain for the production of LFP batteries in North America. Target markets include energy storage, data centers, robotics, mobility, and national security.
First Phosphate’s flagship Bégin-Lamarche property, located in Saguenay-Lac-Saint-Jean, Québec, Canada, represents a rare North American igneous phosphate resource producing high-purity phosphate characterized by very low levels of impurities.
Forward-Looking Information and Cautionary Statements
This news release contains certain statements and information that may be considered “forward-looking statements” and “forward looking information” within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking statements and forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved” and other similar expressions. In addition, statements in this news release that are not historical facts are forward looking statements, including, among other things: the Company and SERV entering into of a definitive agreement and the terms thereof; the Company’s actual expenditures on equipment and services, and the source and value thereof; and the results of SERV’s due diligence and other enquiries Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include development and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. These statements are based on a number of assumptions including, among other things: that engineering and construction timetables and capital costs for the Company’s, exploration, development and expansion projects are correctly estimated and not affected by unforeseen circumstances; the ability to obtain financing for its proposed operations on acceptable terms; no material deterioration in general business and economic conditions; no material delays in obtaining permits and other approvals; no significant disruptions affecting the activities of the Company or its ability to access required project equipment and services, and operating supplies in sufficient quantities and on a timely basis; inflation and prices for Company project inputs being approximately consistent with anticipated levels; the ability to complete the exploration and development programs consistent with the Company’s expectations; commodity price expectations including assumptions for P2O5; the Company’s relationship with local municipalities and First Nations remaining consistent with the Company’s expectations; the Company’s relationship with other third-party partners and suppliers remaining consistent with the Company’s expectations; and government relations and actions being consistent with Company expectations. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. The Company does not assume any obligation to update or revise its forward-looking statements, whether because of new information, future events or otherwise, except as required by applicable law. All forward-looking information contained in this release is qualified by these cautionary statements.
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.
Golden Gate 2026 drilling program. Resolution has completed its planned 2026 Golden Gate drilling program at the Horse Heaven Project in Idaho, completing 42 diamond core holes totaling 12,236 meters. The program, the largest exploration campaign undertaken at Horse Heaven, was designed to define the scale and extent of both gold and tungsten mineralization across Golden Gate North and the recently established Golden Gate South discovery. Core logging is complete, and final samples are being sent to the laboratory for analysis, leaving assay results from 39 of the 42 holes as the principal near-term catalyst.
Early results suggest a potentially large gold system. Results from the first three 2026 holes extended gold mineralization at least 2,000 meters south of Golden Gate North and established Golden Gate South as a new discovery. The strongest 2026 result reported to date was 305.7 meters grading 0.64 g/t gold from surface in Hole HH-GG26-003C, while the 2025 program returned higher-grade intervals including 189.2 meters at 1.30 g/t gold and 253 meters at 1.5 g/t gold. Along with a broad gold-in-soil anomaly between the two areas, the results provide increasing evidence that Golden Gate may represent a considerably larger mineralized system than initially recognized.
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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.
FORTY-TWO DIAMOND CORE DRILL HOLES COMPLETED AT GOLDEN GATE. MAJOR DRILL PROGRAM OVER 12,200M TARGETED EXTENSIONS OF GOLD ANDTUNGSTEN MINERALISATION
HIGHLIGHTS
Forty-Two drill holes completed at Horse Heaven’s Golden Gate Prospect: 42 diamond core holes have been drilled for 12,236m (40,144 ft) successfully completing the planned 2026 drill program at Golden Gate, part of the Horse Heaven Project. The average hole depth is approximately 290m.
Assay results pending on 39 holes: Assay results pending for gold and tungsten from 39 drillholes, with results to be reported over coming months as they are received.
Wide intercepts of gold mineralisation previously reported: Gold mineralisation has been previously reported from Golden Gate from the first three holes of the 2026 drill program and the 2025 program, including:
Best gold intercept this year to date: 305.7 metres @ 0.64 g/t gold (Au) from surface in HH-GG26-003C, including 17.25m @ 1.19g/t Au from 264.85m (ASX announcement 24 August 2026).
Best gold intercepts in last year’s drill program were: 189.2m @ 1.30 g/t Au from 34.1m, in HH-GG25-001C, including 70.8m @ 2.24 g/t Au from 128.8m and 253m @ 1.5 g/t Au in HH-GG25-003C (ASX announcements 2 December 2025 & 18 March 2026).
Major extension to gold mineralisation previously reported at Golden Gate South: Results from the first three holes released to date this year have extended gold mineralisation at least 2,000 metres south of Golden Gate North, confirming “discovery status” at Golden Gate South (see ASX announcement 24 August 2026).
Target tungsten mineralisation: The drilling program was also designed to identify the extent of tungsten mineralisation around previous mine workings at the historical Golden Gate Tungsten mine and explore a broad tungsten anomaly in soil samples at Golden Gate South. Known scheelite occurrences in early drillholes were identified visually using a shortwave ultraviolet light (see ASX announcement 1 July 2026 and 13 July 2026).
Core logging and sample dispatch: All the drilled core has been logged and the final drill hole samples will be dispatched for multi-element analysis within the coming week.
NASDAQ trading successful: RML has been well-received by the US market, as demonstrated by the stock achieving its highest-ever value traded on its first day trading on NASDAQ (9 September 2026). RML.NAS is trading as an ADR (200:1), which has boosted the Company’s visibility and exposure to U.S. investors, institutions and U.S. government organisations and personnel. This elevated presence in the U.S. is expected to benefit RML as it develops Horse Heaven into a potential supplier of American-made tungsten and antimony and aims to provide critical metal supply chain security to the U.S. Administration.
Resolution Minerals Ltd (ASX:RML; NASDAQ: RML) (“Resolution” or the “Company”) is pleased to report that a total of forty two (42) diamond core holes have been completed at the Golden Gate North and Golden Gate South Prospects, for a total of 12,236m (40,144 ft) to finish the planned 2026 drill program at the Horse Heaven antimony-tungsten-gold-silver project (“Horse Heaven”), Idaho, USA (Figure 1).
Core logging is complete, recording geology, alteration and mineralisation. All drill metres have been logged (and photographed) by Company geologists or full-time contractors, including inspection by UV light to identify scheelite, a tungsten ore-mineral.
Craig Lindsay, Resolution’s CEO of US Operations, stated: “Iam exceedingly pleased to announce the completion of all the planned drillholes at Golden Gate. We await gold and tungsten assay results from the drillhole samples with anticipation. The 2026 drill program marks the largest exploration program ever conducted at Horse Heaven. I thank the team and the drillers for this accomplishment. This work marks a major step forward in the development of the project.”
Golden Gate is located within Resolution’s Horse Heaven Antimony-Tungsten-Gold-Silver Project in Idaho, USA, and immediately adjacent to Perpetua Resources’ Stibnite Gold Project, a large, recently permitted Antimony-Gold project. Both Golden Gate and Antimony Ridge have been selected for FAST-41 Transparency Coverage from the US Permitting Council, accelerating the permitting timelines for an ongoing permitting program at both prospects and the entire Horse Heaven project.
Wide intercepts of gold mineralisation, previously reported, with higher grade zones:
Gold mineralisation has been identified in all three previously reported diamond core drill holes with assay results from this year’s drilling, extending gold mineralisation at least 2000 metres south from Golden Gate North to Golden Gate South. The best gold intercept in this year’s drilling to date shows gold mineralisation extending from surface downhole to the base of hole in drill hole HH-GG26-003C.
Drill hole HH-GG26-003C: 305.7 metres @ 0.64 g/t Au from surface; Including: 6.5m @ 1.33g/t Au from 62.0m downhole;
17.25m @ 1.19g/t Au from 264.85m downhole;
Major extension to gold mineralisation confirms discovery status at Golden Gate South
Significant pervasive gold mineralisation was identified in all three diamond core drill holes with reported assay results to date from this season’s drilling. Results extended gold mineralisation at least 2,000 metres south of Golden Gate North, confirming “discovery status” at Golden Gate South. Drilling assay results, soil sampling, geophysics and geological mapping has now confirmed the discovery and presence of gold mineralisation at Golden Gate South (ASX announcement 24 August 2026).
Successful Phase 1 drilling last year (2025) for gold mineralisation
This season’s drilling follows the successful Phase 1 drilling campaign in 2025, which totalled 3,780 metres (10,100 ft) across 14 drill holes. All Phase 1 drill holes intersected gold mineralisation from surface and delivered multiple broad gold intercepts, including:
253m @ 1.5 g/t Au (HH-GG25-003C);
189.2m @ 1.30 g/t Au (HH-GG25-001C);
265.2m @ 0.60 g/t Au (HH-GG25-002C); and
240.8m @ 0.64 g/t Au (HH-GG25-004C) (ASX announcements 2 December 2025 & 18 March 2026).
Table 1: Completed drill hole details for 2026 drill program for a total of 12,236m (40,144 ft)
Drill holes targeted tungsten and gold mineralisation at Golden Gate
Drill holes have targeted both gold and tungsten mineralisation, including a significant tungsten in soil anomaly identified at Golden Gate South and around previously mined scheelite at Golden Gate North.
Scheelite is known to occur at Golden Gate (ASXAnnouncement8September2025). In 2025 diamond core drilling scheelite is reported to occur with quartz and manganese in veins in heavily oxidised quartz-feldspar altered granite. In the Company’s 2026 drill program at Golden Gate, scheelite has again been identified. Known scheelite occurrences in the early drillholes were identified visually using a shortwave ultraviolet light (ASX announcement 1 July 2026 and 13 July 2026). The Company anticipates assay results from this core in coming weeks.
Objectives of the 2026 Drill Program
The objectives of RML’s large 2026 Golden Gate Drill Program, of over 12,000 metres (40,000 ft) of diamond core drilling, across 42 holes, was to target and define the scale and extent of tungsten and gold mineralisation at Golden Gate, starting at Golden Gate South. Golden Gate is located within RML’s Horse Heaven Antimony-Tungsten-Gold-Silver Project in Idaho, USA, immediately adjacent to the recently permitted Perpetua Resources’ Stibnite Gold Project.
Figure 1: Resolution’s Horse Heaven Antimony-Tungsten-Gold-Silver Project – Antimony Ridge (Sb) with Golden Gate(Au) and Golden Gate Tungsten (W).
Figure3:Resolution’sGoldenGateSouthandGoldenGateNorthwithintheHorseHeavenProject–Locationofdrillholesovercolouredgold-in-soil-sampleswiththelocationofCrosssectioninFigure2.Gold-in-soil-samplesemphasisesthecontinuityofgoldmineralisationbetweenGoldenGateSouthandGoldenGateNorthandbetweendrilledareas(from ASX announcement 24 August 2026 and 11 June 2025).
Figure4:Resolution’sGoldenGateSouth–Locationofdrillholesovercolouredgold-in-soil-samplesandinterpretedmineralisation and alteration with three reported drill hole gold assays as histograms (red) and location of Cross section in Figure 2. Gold-in-soil-samples emphasises the continuity of gold mineralisation between drilled areas(fromASX announcement 24 August 2026 and 11 June 2025).
Authorised for release by the Board of Resolution Minerals Ltd.
This announcement may contain forward-looking statements. These statements relate to the Company’s expectations, beliefs, intentions or strategies regarding the future. These statements can be identified by the use of words like “anticipate”, “believe”, “intend”, “estimate”, “expect”, “may”, “plan”, “project”, “will”, “should”, “seek” and similar words or expressions containing same. These forward-looking statements reflect the Company’s views and assumptions with respect to future events as of the date of this release and are subject to a variety of unpredictable risks, uncertainties, and other unknowns. Actual and future results and trends could differ materially from those set forth in such statements due to various factors, many of which are beyond our ability to control or predict. These include, but are not limited to, risks or uncertainties associated with the acquisition and divestment of projects, joint venture and other contractual risks, metal prices, exploration, development and operating risks, competition, production risks, sovereign risks, regulatory risks including environmental regulation and liability and potential title disputes, availability and terms of capital and general economic and business conditions.
Given these uncertainties, no one should place undue reliance on any forward-looking statements attributable to the Company,or any of its affiliates or persons acting on its behalf. Subject to any continuing obligations under applicable law, the Company disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements in this announcement to reflect any change in expectations in relation to any forward-looking statements or any change in events, conditions or circumstances on which any such statement is based.
JORC cross references
The Company confirms it is not aware of any new information or data that materially affects the information cross referenced in this announcement and further to “Agreement to Acquire Major US Antimony Project and Placement” on 11 June 2025, “Drilling to Expand Footprint at Horse Heaven” on 8 September 2025, “Exceptional Rock Chip and Soil Results from Antimony Ridge” on 15 September 2025, “Exceptional Rock Chip and Soil Results Update” on 24 September 2025, “Significant Gold Discovery at Horse Heaven Project” on 28 October 2025, “Significant Gold Discoveries Continue at Golden Gate” on 3 November 2025, “Golden Gate Discovery Grows with Multiple Gold Intercepts” on 2 December 2025, “Further Ultra High Grade Antimony and Silver Results” on 14 January 2026, “New Gold Discovery at Golden Gate South” on 9 February 2026, “Gold & Significant Tungsten Mineralisation in Drilling” on 17 February 2026, “Major Drilling Program Planned to Test Golden Gate Scale” on 18 March 2026, “Exceptional Tungsten Grade Identified in Stockpile Material” on 26 March 2026, “Antimony Ridge Model Shows Extensive Vein Swarms” on 10 April 2026, “Antimony Trioxide Produced from Antimony Ridge“ on 14 April 2026, “Tungsten Concentrates Produced from Golden Gate“ on 28 April 2026, ”Tungsten and Gold Drilling Underway and High Gold Recoveries” on 15 May 2026, and “First 2026 Gold and Tungsten Drilling Proving Encouraging” on 21 May 2026, “Drill Program Progressing Well at Horse Heaven” on 1 July2026 and clarified on 13 July 2026, and “Major Gold Extension Confirmed at Golden Gate” on 24 August 2026 . The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original announcements.
Competent Person’s Statement
The information in this report that relates to exploration results relating to metallurgy, is based on and fairly represents information reviewed and compiled by Mr Ross Brown BSc (Hons), M AusIMM, Principal Geologist/director of exploration consulting firm, Riviere Minerals Pty. Ltd, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Brown has sufficient experience, which is relevant to the exploration activities, style of mineralisation and types of deposits under consideration, and to the activity which has been undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Riviere Minerals is consulting to Resolutions Minerals Limited and consents to the inclusion in this announcement of the matters based on their information in the form and context in which it appears.
Appendix A: JORC Code, 2012 Edition
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria
JORC Code explanation
Commentary
Sampling techniques
Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.Aspects of the determination of mineralisation that are Material to the Public Report.In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.
This announcement provides an update of the completion of the Company’s 2026 drill program conducted at its Horse Heaven Project in Idaho, USA.This announcement reports the completion of all forty two drill holes, without any exploration results apart from hole location and drill depth data, with the ID reference from HH-GG26-001 to HH-GG26-042, inclusive (“Drilled Holes”).Variations on drill hole reference nomenclature may occur from time to time. The prefix “HH” (denoting Horse Heaven) may not be used. The suffix “C” (denoting Core) may also not be used, as is the case in this announcement. Reported exploration results (data) solely includes drill hole type, drill hole location (UTM metric) and drill hole parameters (dip, azimuth, altitude and end of hole data).No drill core sample assay results of the above-mentioned holes are included in this announcement.No reference to mineralised intersects are included in this announcement.
Drilling techniques
Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether
The Drilled Holes are diamond core drill holes that were drilled by Evolve Exploration Ltd using two Multipower MP1500 modular core rigs providing HQ diamond drill core.
Criteria
JORC Code explanation
Commentary
core is oriented and if so, by what method, etc).
The drill core is oriented. The core orientation method is conducted using the ACTxCore Orientation System.
Drill sample recovery
Method of recording and assessing core and chip sample recoveries and results assessed.Measures taken to maximise sample recovery and ensure representative nature of the samples.Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.
Drill core recovery of the drilled holes have been consistently high (a function of the solid lithologies) approaching 100%. Lower core recovery rates are sometimes observed in fault zones, with the most significant losses usually occurring near the top of the drill hole, close to the collar, with core recoveries of approximately 50% recovery.
Logging
Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.The total length and percentage of the relevant intersections logged.
Drill core was logged for lithology, alteration, mineralisation, structure (geotechnical) using oriented core to a level which has enabled preliminary interpretations relating to style of mineralisation, host and thickness. At this stage no Mineral Resource Estimates, mining studies or metallurgical studies are appropriate.Drill core is also logged for RQD and Core recovery.Drill core is then digitally photographed wet while whole after logging.The logging, as described above is both quality and quantitative.100% of the relevant intersections were logged as per above.
Sub-sampling techniques and sample preparation
If core, whether cut or sawn and whether quarter, half or all core taken.If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.
The HQ core was halved using a diamond core saw and sampled on geological intervals approximating 0.2m to 1.5m in length. The smallest intervals selected to specifically target mineralised veins
Criteria
JORC Code explanation
Commentary
For all sample types, the nature, quality and appropriateness of the sample preparation technique.Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.Whether sample sizes are appropriate to the grain size of the material being sampled.
have used down to 0.2m intervals. The 1.5 metre interval is most commonly applied across the core. Drill core is being halved using an electric powered core saw by RML contract staff who maintain possession of the core at its Antimony Camp facility.Half-cut core samples will be bagged and tagged using bar-coded sample tags and were securely stored prior to shipment at the Antimony Camp facility.Half cut core samples were transported by RML contractors under lock and key to ALS prep’ lab’ facility in Twin Falls, ID. No third-party shippers were involved in the shipping process; chain of custody forms were exchanged at ALS Minerals in Twin Falls and a copy kept on file. The remaining boxed cut core are kept at a secure locked facility at Antimony Camp, ID.ALS Minerals Twin Falls prep’ lab’ logs in the samples using the sample tag bar codes provided. Samples were then crushed to 70% less than 2mm, rotary split off 250g, pulverise split to better than 85% passing 75 microns.All samples were then shipped to ALS Minerals analytical laboratory in Vancouver, British Columbia.
Quality of assay data and laboratory tests
The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysisincluding instrument make and
No drill core assay results are referred to this announcement.
Criteria
JORC Code explanation
Commentary
model, reading times, calibrations factors applied and their derivation, etc.Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.
Verification of sampling and assaying
The verification of significant intersections by either independent or alternative company personnel.The use of twinned holes.Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.Discuss any adjustment to assay data.
No drill core assay results are referred to this announcement.For clarity, although no drill core assay results are referred to this announcement, various of the Drilled Holes share drill platforms (referred to as Drill Sites). The holes may be fanned (same collar, different azimuth/dip), or scissored (same collar, same plane but opposing azimuth). No holes are twinned (same collar, same azimuth, different dip).
Location of data points
Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.Specification of the grid system used.Quality and adequacy of topographic control.
The locations of the Drilled Holes were achieved using handheld GPS programmed into the local coordinate system. The accuracy of the GPS is in line with best practice standards.
Data spacing and distribution
Data spacing for reporting of Exploration Results.Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.Whether sample compositing has been applied.
In terms of geological data spacing associated with the Drilled Holes every metre of these holes was logged, with details of lithology, alteration, mineralisation recorded to sub-decimetre detail.
Criteria
JORC Code explanation
Commentary
Orientation of data in relation to geological structure
Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.
The Drilled Holes have a drill direction that is approaching perpendicular to the regional trend (lithologically and structurally) and also approaching perpendicular to the known mineralisation. The purpose of the Drilled Holes was to test the possible extension of known gold and tungsten mineralisation at surface at depth along strike from past drill holes and past surface sample results and to test the occurrence of gold in un-oxidised rocks at depth..
Sample security
The measures taken to ensure sample security.
All drill core samples were delivered directly to RML’s geologists and contractors on site where they remain under direct supervision at a secure site.
Audits or reviews
The results of any audits or reviews of sampling techniques and data.
The competent person is unaware of the undertaking of audits or reviews for sampling technique and data, other than its own review.
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria
JORC Code explanation
Commentary
Mineral tenement and land tenure status
Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, past sites, wilderness or national park and environmental settings.The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.
This announcement refers to exploration results regarding drill core at Golden Gate, a project within the one larger project, Horse Heaven project in Idaho USA, comprising seven hundred and twenty-nine (729) U.S. Federal lode mining claims covering 14,580 acres and includes seven hundred and nineteen (719) mining claims and ten lode mining claims referred as the Oberbillig Group.The competent person understands that the mining claims are all in good standing.
Exploration done by other parties
Acknowledgment and appraisal of exploration by other parties.
No exploration results reported in this announcement were performed by other parties.
Geology
Deposit type, geological setting and style of mineralisation.
The project area is dominated by Cretaceous-aged granitic rocks relating to intrusive phases associated with the Atlanta Lobe of the Idaho Batholith. These largely granodiorite rocks have intruded Neoproterozoic-aged metasediments, comprising quartzites (which are dominant) calc-silicates, marble and black shale. The area and broader region is affected by broad regional folding and N-S, NNE-SSW, and NE-SW faults.Gold, antimony, tungsten and silver mineralisation is associated with hydrothermally altered and fractured granodiorites.
Criteria
JORC Code explanation
Commentary
Drillhole Information
A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drillholes:easting and northing of the drillhole collarelevation or RL (Reduced Level – elevation above sea level in metres) of the drillhole collardip and azimuth of the holedown hole length and interception depthhole length.If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.
The drillhole information for the Drilled Holes is included in a table (Table1) with drill collar location data, altitude, dip, azimuth, and end of hole.
Data aggregation methods
In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low-grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.The assumptions used for any reporting of metal equivalent values should be clearly stated.
No drill core assay results are referred to this announcement, by this, no weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades were used.
Relationship between mineralisation
These relationships are particularly important in the reporting of Exploration Results.
With reference to the Drilled Holes, these holes were drilled close to perpendicular
Criteria
JORC Code explanation
Commentary
widths and intercept lengths
If the geometry of the mineralisation with respect to the drillhole angle is known, its nature should be reported.If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).
across the prospect-scale orientation of the known mineralisation. No drill core assay results are referred to this announcement, by this, no relationships pertaining to the geometry of the mineralisation with respect to the drillhole dip and azimuth are included.
Diagrams
Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drillhole collar locations and appropriate sectional views.
Two drill hole location plans are provided with geolocation information (coordinates, northing and scale bar) showing the locations of the Drilled Holes and/or the drill pads. Legends are included within each figure (where appropriate) and when additional explanation is required, this is given to the figure caption.
Balanced reporting
Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.
This announcement is considered to be fair and balanced with respect to the exploration results, being a drilling update.
Other substantive exploration data
Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.
There is no other material data associated with the Drilled Holes not mentioned in this announcement.
Further work
The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling).
The drill hole subject of this announcement, the Drilled Holes, are the summary of the 2026 large diamond core drill program of 42-holes for and
Criteria
JORC Code explanation
Commentary
Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.
12,236m (40,144 ft), which is now completed. Drill hole results will be released on an ongoing basis.
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.
Initial 2026 drilling results. Tectonic Metals reported the first assays from its 2026 program at Chicken Mountain, with results from 15 holes totaling 2,276 meters, demonstrating extensions of mineralization both at depth and along the southern margin. The strongest diamond hole, CMD26-036, returned 1.40 g/t gold (Au) over 30.00 meters, including 4.58 g/t Au over 4.50 meters, followed by a 118.16-meter interval grading 0.51 g/t Au that continued to the end of the hole. The result extends Central Corridor 2 to more than 300 meters of vertical depth and supports the interpretation of Chicken Mountain as a large, bulk-tonnage reduced intrusion-related gold system potentially amenable to heap-leach processing.
The mineralized footprint continues to grow. Approximately 1.2 kilometers south of Hole CMD26-036, step-out holes CMR26-141 and CMR26-142 extended the southernmost tested mineralization by approximately 200 meters, increasing its interpreted length to roughly 600 meters. Hole CMR26-142 returned 0.56 g/t Au over 38.10 meters, including 3.06 g/t Au over 4.57 meters, while Hole CMR26-141 intersected 0.31 g/t Au over 25.91 meters and ended in mineralization. The results confirm lateral continuity and expand the mineralized volume that could contribute to a maiden resource.
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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.
Drilling Also Returns 0.51 g/t Au Over 118.16 Metres of Continuous Mineralization to End of Hole; Step-Out Drilling Expands Southern Mineralized Footprint by 200 Metres to 600 Metres
Assays Pending from 97 Drill Holes Representing 18,000 Metres of 2026 Drilling; Maiden Mineral Resource Estimate Targeted for Q1 2027
VANCOUVER, B.C., September 10, 2026 – Tectonic Metals Inc. (“Tectonic” or the “Company”) (TSX-V: TECT; OTCQX: TETOF) today announced the first assay results from its 2026 drill program at Chicken Mountain, the most advanced intrusion target at the Company’s flagship 99,840-acre Flat Gold Project (“Flat”) in southwest Alaska, U.S. The results from 15 drill holes totalling 2,276 metres (“m”) have expanded gold mineralization both at depth and to the south, further substantiating Chicken Mountain as a bulk-tonnage Reduced Intrusion Related Gold System (“RIRGS”), with potential for heap-leach processing.
Chicken Mountain is one of six district-scale intrusion targets currently identified at Flat and is being advanced toward a maiden Mineral Resource Estimate (“MRE”) targeted for Q1 2027.
Key Drill Results & Geological Highlights1
The 2026 drill program at Flat has completed over 22,000 m year-to-date, with assay results from 15 holes totalling 2,276 m reported in this release. These results extend gold mineralization in two priority areas at Chicken Mountain: Central Corridor 2, one of six higher-grade corridors identified across 3.3 kilometres (“km”) of drilled strike; and the southern extension of the near-surface mineralized footprint.
Central Corridor 2 Depth Extension to Over 300 m:
Diamond hole CMD26-036 returned 1.40 grams per tonne gold (“g/t Au”) over 30.00 m from 183.00 m, including 4.58 g/t Au over 4.50 m, and a separate deeper interval of 0.51 g/t Au over 118.16 m from 270.00 m to the end of the hole at 388.16 m, including 0.93 g/t Au over 19.50 m and 1.42 g/t Au over 7.50 m.
This area, defined as Central Corridor 2, was first described in Tectonic’s January 22, 2026 news release2 with CMD25-011, which intersected 0.69 g/t Au over 124.97 m, including 1.46 g/t Au over 26.00 m, across a corridor measuring approximately 200 m strike × 150 m width × 100 m depth.
CMD26-036 now confirms the continuation of this zone down to over 300 m vertical depth. Central Corridor 2 remains open in all directions.
Southern Mineralized Footprint Expanded by 200 m to 600 m in Length: Located 1.2 km south of CMD26-036, RC holes CMR26-141 and CMR26-142 expanded the drilled southern margin of Chicken Mountain by 200 m to the southwest, increasing its interpreted length in the southernmost tested area to approximately 600 m:
CMR26-141: 0.31 g/t Au over 25.91 m from 144.78 m, including 0.81 g/t Au over 4.57 m; hole ended in mineralization at 172.21 m.
CMR26-142 – southwestern step-out: 0.56 g/t Au over 38.10 m from 80.77 m, including 3.06 g/t Au over 4.57 m.
Together, these step-out holes confirm gold mineralization 200 m southwest of previous drilling and materially expand the drilled footprint in the southern portion of Chicken Mountain.
Higher-grade Interval Within Broader Mineralization: RC hole CMR26-128 located in the southern mineralized footprint returned 0.71 g/t Au over 22.86 m from 59.44 m, including 6.79 g/t Au over 1.52 m; hole ended in mineralization at 111.25 m.
Higher-Grade Corridor Characterization:
Currently, there are six higher-grade corridors identified within the broader mineralized envelope across the 3.3 km of drilled strike (see Figure 1). They range from 200 to 300 m in strike and up to 200 m in width, remaining open at depth. These corridors warrant further drilling (see Figure 4) and may have the potential to support future starter-pit opportunities.
Central Corridor 2 and the other higher-grade gold corridors are commonly associated with intense oxidization and/or sericite alteration, with a mineralized quartz and quartz-carbonate vein density of 1–3 veins per metre. These veins and alteration commonly host fine- to medium-grained arsenopyrite, pyrite and stibnite.
Tectonic is integrating oriented-core structural measurements with alteration, vein-density and multi-element geochemical data to refine the controls on higher-grade mineralization.
100% Drill Success Rate Continues at Chicken Mountain:
All 206 holes drilled to date at Chicken Mountain have intersected gold mineralization, demonstrating the widespread distribution of gold across the system.
Of these holes, 127 (over 60%) ended in mineralization, providing numerous opportunities for follow-up drilling below current hole depths.
Chicken Mountain Growth Potential Still Remains Largely Untested:
Gold-in-soil anomaly, based on historical data, extends 4.0 km in length and up to 1.0 km in width.
Mapped monzonitic gold intrusive host rock complex measures approximately 4.5 km x 3.0 km, with a larger geophysical intrusive footprint of 6.5 km x 6.0 km.
More than 90% of the mapped intrusion complex remains untested by drilling.
The currently defined mineralized area (3.3 km strike x up to 700 m width x 300 m depth) remains open in all directions.
Near-Term Catalysts:
Substantial Assay Pipeline: Assays are pending for 97 additional drill holes currently in the laboratory queue, representing nearly 18,000 m of the 2026 drill program. The majority of these holes are targeting resource delineation and infill drilling in support of the maiden MRE.
Drilling Continues: Five drill rigs remain active at Flat and are expected to operate through the end of the field season in late October, supporting a steady flow of assay results through year-end.
Regional Surface Exploration: Results from the regional soil-sampling program are pending and will help refine and prioritize exploration targets beyond the current drilled footprint.
Heap Leach Column Testwork: Results are pending from column-leach tests evaluating multiple crush sizes, including material crushed to two inches.
Completion of the maiden MRE is targeted for Q1 2027.
Tony Reda, Co-Founder, President & CEO, commented:
“Drilling at Chicken Mountain continues to answer the questions that matter at this stage: does the mineralization continue at depth, does the footprint keep growing and can higher grades recur within the broader system? These first 2026 results provide encouraging evidence on all three fronts.
“Every one of the 206 holes reported to date at Chicken Mountain has intersected gold, and over 60% have ended in mineralization. We are combining disciplined resource-delineation drilling with structural interpretation, geochemistry, environmental baseline work and geotechnical studies to evaluate Chicken Mountain’s potential as a large-scale, open-pit, heap-leach gold opportunity while substantial exploration upside remains across Flat and its other intrusion targets.”
Figure 1: Simplified regional geology map of the Flat Gold Project and map of the Chicken Mountain intrusion drilling area, highlighting the six identified higher-grade corridors.
Chicken Mountain: In Pursuit of a Heap-Leachable Bulk-Tonnage Mining Opportunity
Chicken Mountain is interpreted as a RIRGS, hosted by a monzonitic intrusive complex. Gold mineralization occurs in sericite-altered and variably oxidized monzonite containing sheeted, millimetre- to centimetre-scale quartz to quartz-carbonate veinlets. Drilling has outlined a mineralized footprint extending 3.3 km along strike, up to 700 m wide and to 300 m vertical depth (see Figure 2). Mineralization remains open in all directions.
Tectonic is using oriented-core structural measurements, alteration and vein-density observations, and multi-element geochemistry to refine the geological model, define the controls on higher-grade mineralization and prioritize follow-up drilling. This integrated work is intended to improve confidence in the geometry and grade distribution of the broader mineralized envelope and its internal higher-grade corridors.
The 15 holes reported in this release represent 2,276 m of step-out and early-stage resource-delineation drilling at Chicken Mountain. Assays remain pending from 97 additional drill holes representing nearly 18,000 m of 2026 drilling. Results from regional soil sampling are also pending and will be used to refine targets beyond the current drilled footprint. Environmental baseline, geochemical and geotechnical programs are advancing in parallel as the Company works toward its maiden MRE targeted for Q1 2027.
Figure 2: Chicken Mountain plan view and long section showing the mineralized drill results, 3.3 km drilled strike extent and gold-in-soil anomalism.
Figure 3: Chicken Mountain drill plan highlighting three of the six interpreted higher-grade corridors.
Figure 4: Cross section L1-L1′, looking north, showing CMD26-036 and mineralization across a 500 m-wide section.
Note: All reported intercepts are reported as downhole lengths, as insufficient data exists to determine true widths. Select composites utilizing 0.10, 0.30 or 0.50 g/t Au cut-offs, with a maximum 3.2 m continuous (two sample) below the cut-off inclusion.
Note: All reported intercepts are reported as downhole lengths, as insufficient data exists to determine true widths. Select composites utilizing 0.10, 0.30 or 0.50 g/t Au cut-offs, with a maximum 3.2 m continuous (two sample) below the cut-off inclusion.
Table 3 – Drill Hole Details at Chicken Mountain
Hole ID
Type
Azimuth (o)
Dip (o)
Length (m)
UTM E
UTM N
Prospect
Purpose
CMD26-036
DDH
120
-55
388.16
552387
6917005
Chicken Mountain
MRE
CMR26-127
RC
120
-55
144.78
552580
6916262
Chicken Mountain
MRE
CMR26-128
RC
120
-75
111.25
552579
6916262
Chicken Mountain
MRE
CMR26-129
RC
120
-55
169.16
552528
6916179
Chicken Mountain
MRE
CMR26-130
RC
120
-75
147.83
552527
6916179
Chicken Mountain
MRE
CMR26-131
RC
120
-55
111.25
552635
6916223
Chicken Mountain
MRE
CMR26-132
RC
120
-75
111.25
552635
6916224
Chicken Mountain
MRE
CMR26-133
RC
120
-55
164.59
552590
6916145
Chicken Mountain
MRE
CMR26-134
RC
120
-75
94.49
552589
6916145
Chicken Mountain
MRE
CMR26-135
RC
120
-55
128.02
552657
6916107
Chicken Mountain
MRE
CMR26-136
RC
120
-75
121.92
552657
6916107
Chicken Mountain
MRE
CMR26-137
RC
120
-55
149.35
552705
6916193
Chicken Mountain
MRE
CMR26-138
RC
120
-75
118.87
552705
6916193
Chicken Mountain
MRE
CMR26-141
RC
120
-55
172.21
552719
6916070
Chicken Mountain
MRE
CMR26-142
RC
120
-75
143.26
552718
6916071
Chicken Mountain
MRE
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 PhotonAssayTM 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 led by an experienced and well-respected technical and financial team with a track record of wealth creation for shareholders. The Company is 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, where drilling has achieved a 100% success rate across 206 holes to date.
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 30 million ounces of gold, advanced 18 projects through to feasibility, permitted 20 projects, completed over $3 billion in mergers and acquisitions and raised more than $2 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].
Cautionary Note Regarding Forward-Looking Statements, Historical Information and Visual Observations
This news release contains “forward-looking statements” and “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements herein that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often, but not always, identified by words such as “may,” “will,” “should,” “anticipate,” “believe,” “expect,” “intend,” “plan,” “estimate,” “potential,” “target,” or similar terminology, or that events or conditions “may” or “will” occur.
Forward-looking statements in this release include, but are not limited to, statements regarding: the potential for mineralization at Tectonic’s projects; the nature, scope, and timing of future exploration activities; the interpretation of geological observations; the possible size or scale of mineralized systems; the receipt of regulatory approvals, and the anticipated benefits of current and future exploration programs.
This release also refers to historical information, including results from past exploration activities and placer production figures. Such historical information has not been independently verified by Tectonic, may not be reliable, and should not be relied upon as current, NI 43-101 compliant data.
In addition, this release contains, detailed geological notes, and descriptive observations such as alteration styles, mineralogy and visible gold. These observations are preliminary in nature, may not be representative of the entire interval or system, and should not be relied upon as a guarantee of mineralized assay results or as the basis for any investment decision. Investors and readers are cautioned that visual estimates, core photographs, and geological descriptions are not substitutes for laboratory assay results and do not demonstrate the economic viability of any mineral deposit.
Forward-looking statements are not guarantees of future performance. They are based on a number of assumptions made as of the date such statements are provided, including, among others: assumptions regarding future gold and other metal prices; currency exchange and interest rates; favourable operating and political conditions; timely receipt of permits and regulatory approvals; availability of labour, equipment, and services; stability of financial and capital markets; availability of financing on acceptable terms; accuracy of exploration data and geological models; and the ability to successfully advance planned exploration programs. Many of these assumptions are beyond the control of Tectonic and may prove to be incorrect.
Forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied. These risks include, without limitation: risks inherent to mineral exploration and development; volatility of commodity prices; changes in laws, regulations, and policies; delays or inability to obtain required approvals and permits; availability of financing; general economic, political, and market conditions; labour disputes and shortages; equipment and supply risks; environmental and social risks; competition; inaccuracies in exploration results or geological interpretations; and other risks detailed from time to time in the Company’s continuous disclosure filings.
Although management believes the expectations expressed in such forward-looking statements are reasonable as of the date made, there can be no assurance they will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements, historical information, or preliminary visual geological observations. Actual results and future events may differ materially from those anticipated. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Tectonic disclaims any intention or obligation to update or revise forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
1 All intervals are downhole lengths; true widths are unknown. Highlighted intervals above are selected results. Complete reported composites for all 15 holes are provided in Tables 1 and 2. 2 January 22, 2026 News Release: Tectonic Metals Drills 9.94 g/t Au Over 36.58 Metres Including 15.73 g/t Au Over 22.86 Metres with 104.23 g/t Au Over 3.05 Metres at Chicken Mountain, Flat Gold Project
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.
A major milestone. Century Lithium reached a major permitting milestone at its 100%-owned Angel Island Lithium Project in Nevada with the submission of its Mine Plan of Operations and Nevada Reclamation Permit Application. The Plan of Operations formally defines the proposed project for federal environmental review and moves Angel Island into the National Environmental Policy Act (NEPA) process.
Angel Island lithium project. Angel Island will be a large, long-life surface mine designed to produce battery-grade lithium carbonate on site. Development would be phased from approximately 8,300 tons per day during the first four years to as much as 16,500 tons per day from years five through 40, supported by direct lithium extraction, closed-loop water recycling, and significant power and water infrastructure.
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.
Nasdaq listing enhances Resolution’s U.S. market presence. Resolution Minerals’ American Depositary Shares, or ADSs, commenced trading on the Nasdaq Capital Market on September 9, 2026, under the ticker RML. Each ADS represents 200 ordinary Resolution shares, while the ASX remains the company’s primary listing. Resolution did not conduct a U.S. capital raise in connection with the Nasdaq listing.
The listing supports Resolution’s broader U.S. strategy. We expect the Nasdaq listing to increase the company’s visibility among U.S. retail and institutional investors and strengthen its ability to raise capital in the United States. The timing is favorable given heightened U.S. interest in securing domestic supplies of critical minerals, particularly tungsten and antimony.
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.
Secondary U.S. listing complements RML’s ASX listing and supports the Company’s U.S. market strategy as it advances the
Horse Heaven Project in Idaho, USA.
HIGHLIGHTS
Trading scheduled to commence on the Nasdaq Capital Market on Wednesday, 9 September 2026 (U.S. time) under ticker code RML.
There is no capital raising associated with the Nasdaq listing.
The Nasdaq listing will enable RML to tap into the world’s largest equity capital markets at a time of strong investment interest in U.S. critical minerals, and trade alongside its U.S.-listed critical metals peers such as neighbouring Perpetua Resources Corp (US$3 billion market cap) and MP Materials Corp (US$10 billion market cap).
The Nasdaq listing follows RML’s successful A$20 million institutionally-led placement in April this year, which was corner-stoned by Tribeca Investment Partners and L1 Capital Global Opportunities Master Fund.
Additionally, the Nasdaq listing is expected to increase RML’s visibility for White House and U.S. Department of War funding and development incentives, improve the Company’s U.S. capital raising ability, provide M&A currency for any potential
U.S. corporate opportunities, and facilitate U.S. broker research exposure.
The U.S. Government is aware of the strategic importance of RML’s Golden Gate and Antimony Ridge assets as a potential source of U.S. domestic tungsten and antimony, given that both projects have been awarded FAST-41 Permitting Status by the White House.
To the best of RML’s knowledge, no other company has been awarded two FAST-41 approvals, demonstrating recognition by the U.S. Government of the potential that RML has to help address the American national security and critical mineral supply chain requirements.
Elevated geopolitical tension, a U.S. Government push to onshore its critical minerals supply chain, as well as historically high tungsten and precious metal prices, have all contributed to increased interest in Resolution Minerals from U.S. investors looking for exposure to defence, critical and precious metals.
Resolution Minerals Ltd (ASX:RML; Nasdaq:RML) (Resolution or the Company) is pleased to report on its progress towards its Nasdaq listing.
NASDAQ TRADING TO COMMENCE ON TODAY
Resolution is pleased to announce that American Depositary Shares (ADS) representing its ordinary shares will commence trading on the Nasdaq Capital Market (Nasdaq) on Wednesday morning, 9 September 2026 (US time), under the ticker symbol “RML”. Each ADS represents 200 ordinary shares of the Company.
The listing on Nasdaq follows the declaration of effectiveness by the U.S. Securities and Exchange Commission (SEC) of the Company’s registration statement on Form 20-F and formal approval from Nasdaq upon meeting its listing requirements. The Nasdaq listing is a secondary listing and complements the Company’s existing primary listing of ordinary shares on the ASX.
The Company completed the Nasdaq listing without an associated capital raise in the United States. Therefore, initial trading of ADSs may be limited due to the time it takes for existing shareholders to deposit their RML ordinary shares into the ADR program and receive ADSs for trading on Nasdaq.
The Bank of New York Mellon has been appointed depositary, custodian, and registrar for the Company’s American Depositary Receipt program.
A dual-listing on the NASDAQ strengthens Resolution’s emerging status as a potential future American supplier of critical metals for the defense needs of the U.S. and its allies.
Some other critical mineral companies on the NASDAQ / NYSE include MP Materials Corp (MP.NYSE), Perpetua Resources Corp (PPTA.NAS), Almonty Industries Inc (ALM.NAS), USA Rare Earth Inc (USAR.NAS) and Energy Fuels Inc (UUUU.AME).
RML will maintain a primary listing on ASX on which its ordinary shares will continue to trade.
Ari Zaetz, RML’s Managing Director, commented:
Authorised for release by the board of Resolution Minerals Ltd.
