Category: Canada

MEDELLIN, Colombia–(BUSINESS WIRE)–Jul 24, 2025–

Mineros S.A. (TSX:MSA, MINEROS:CB) (“ Mineros ” or the “ Company” ) is pleased to report an initial Mineral Resource estimate on Guillermina, a polymetallic vein system associated with hydrothermal breccias located three kilometers north of the Porvenir Project, forming part of its Hemco Property in Nicaragua (Figure 1).

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Figure 1. Guillermina location map

“We are pleased to have reached this milestone at Guillermina, one of several key targets in our portfolio of organic growth projects,” stated David Londoño, President and CEO of Mineros. “We are advancing Guillermina and other early- to advanced-stage targets across our highly prospective Hemco Property landholdings. This deposit represents an exciting opportunity that could play an important role in the Porvenir Project’s future development. As we move forward, we will continue to explore Guillermina with the aim of expanding and upgrading this initial Mineral Resource,” Mr. Londoño added.

Guillermina is located on the Hemco Property in the Mining Triangle district centered around the towns of Bonanza, Rosita and Siuna in northeastern Nicaragua and is situated approximately four kilometres west of the Pioneer Mine. It consists of a 1.8 km vein system oriented at an azimuth of 245° with notable anomalies in gold, silver, and zinc. The mineralization system includes an assemblage of hydrothermal breccias, stockwork, and veinlets up to 20 m in thickness, with a crustiform to colloform-banded quartz chalcedony-adularia matrix. The breccia matrix contains galena, sphalerite, and hematite occurring in patches and bands throughout.

Table 1. Guillermina Deposit Mineral Resource Statement (effective March 31, 2025).

Classification	Cut-Off	Tonnes	NSR	Grade	Contained Metal
NSR Value	(kt)	$/t	Au (g/t)	Ag (g/t)	Zn (%)	AuEq (g/t)	Au (koz)	Ag (koz)	Zn (Mlb)	AuEq (koz)
Indicated	$82.50/t	1,286	142	0.71	23.3	6.60	3.13	30	962	187	129
Inferred	1,286	155	1.32	30.2	5.73	3.66	55	1,250	162	152
Mineral Resource reporting notes:
Mineral Resources are classified according to the Canadian Institute of Mining Metallurgy and Petroleum’s “CIM Definition Standards for Mineral Resources and Mineral Reserves” adopted on May 10, 2014 (the “ CIM Standards ”). The Mineral Resources have been reported within underground reporting shapes generated with Deswik Stope Optimizer using a net smelter return (“ NSR ”) cut-off value of $82.50/t and a minimum mining width of 1.0 m. Material within 30 m of the topographic surface has been excluded from the Guillermina Mineral Resources to allow for artisanal mining. Mineral Resources are estimated using a long-term gold price of $1,700/oz Au, a silver price of $20/oz Ag, and a zinc price of $1.36/lb Zn. Metallurgical recoveries are applied on a block-by-block basis with an average of 85.5% for gold, 30.7% for silver, and 91.0% for zinc. The NSR $/t value for each block was calculated using the following NSR factors: – $53.12 g/t Au x gold recovery – $0.41 g/t Ag x silver recovery – $1,755.54 % Zn x zinc recovery The formula used to calculate the AuEq grade is Au g/t + (Ag g/t * silver AuEq factor) + (Zn% * zinc AuEq factor), where: silver AuEq factor = (0.41 * silver recovery) / (53.12 * gold recovery) zinc AuEq factor = (1,755.54 * zinc recovery) / (53.12 * gold recovery) Average bulk density is 2.71 t/m 3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Mineral Resource estimate assumes underground mining and extends from surface to a depth of 400m. Numbers may not add or multiply due to rounding.

Building on drilling results from the Neptuno Company in the 1970s, Hemco carried out a drilling campaign at Guillermina in 2011 and 2012, aiming to identify new gold deposits. The campaign consisted of 1,070 m across seven drill holes, revealing significant zinc anomalies as well as low-grade gold and silver anomalies.

Recognizing the potential for polymetallic mineral production at the Porvenir Project, the Company initiated a reconnaissance diamond drilling campaign in 2022, completing 887 m across seven drill holes. This initial campaign confirmed the depth and continuity of the deposit. The drilling delineated a central extension of a mineralized structure hosting galena, sphalerite, and chalcopyrite, with thicknesses ranging from two metres to 15 m.

Following positive results from the previous campaign, drilling efforts in 2023 focused on confirming the extensions of the mineralization, with 11 holes drilled for a total of 1,898 m. By 2024, the campaign advanced to infill drilling to improve the definition of mineralization, with 6,498 m drilled across 40 holes. The core of the mineralized vein was drilled at approximately 50 m spacing.

The initial Mineral Resource estimate on Guillermina includes the results of 9,798 m in 61 diamond drill holes completed between 2011 and August 2024 (Figure 2). Grades were constrained with three-dimensional (3D) wireframes of the principal mineralized vein and interpolated by the inverse distance cubed (ID 3 ) method into a block model with parent blocks of 2 m by 2 m by 2 m and sub-blocks of 1 m by 1 m by 1 m. The classification of solids was based on drill hole spacing, with distances less than 50 m classified as Indicated Mineral Resources and distances less than 100 m classified as Inferred Mineral Resources.

An NSR value was assigned to blocks to validate the geological interpretation and for resource reporting. NSR represents the estimated dollar value per tonne of mineralized material after accounting for smelter terms, including revenues, treatment and refining charges, penalties, smelter losses, transportation, and sales charges. The NSR calculation is based on metallurgical testing at the Porvenir Project, using comparable smelter terms and data collected by the Company. These assumptions depend on the processing scenario and may vary with further metallurgical testwork. Key assumptions, including preliminary metallurgical recoveries, are detailed in Table 2.

Table 2. Recovery Curves Used for Guillermina.

Metallurgical Recovery	Min	Max	Cu (%) Thresholds	Formula
REC_AU	0	92.3	≥0.7	108.553 – 6.110*Au (g/t) – 0.870*Ag (g/t) + 2.245*Zn (%) + 5.827*Ln(Pb (%)) – 13.223*Ln(S (%))
≥0.5 to <0>	108.553 + 0.860*Au (g/t) – 0.870*Ag (g/t) + 2.245*Zn (%) + 5.827*Ln(Pb (%)) – 13.223*Ln(S (%))
<0>	108.553 + 1.942*Au (g/t) – 0.870*Ag (g/t) + 2.245*Zn (%) + 5.827*Ln(Pb (%)) – 13.223*Ln(S (%))
REC_AG	0	81.9	≥0.85	65.355 + 2.885*Au (g/t) – 1.066*Ag (g/t) – 11.986*Zn (%) + 2.573*Ln(Pb (%))
<0>	65.355 + 2.885*Au (g/t) – 1.066*Ag (g/t) – 1.756*Zn (%) + 2.573*Ln(Pb (%))
REC_ZN	0	92.2	≥0	96.382 + 0.472*Au (g/t) – 2.746*Ln(Ag (g/t)) + 2.377*Ln(Cu (%)) + 5.362*Ln(Zn (%))

Standard smelting and refining charges were applied to the various concentrates. It was assumed that the concentrates would be marketed internationally. NSR factors are summarized in Table 3.

Table 3. Mineral Resource NSR Factors

Metal	Unit	Factor
Au	$ per g Au	53.12
Ag	$ per g Ag	0.41
Zn	$ per % Zn	1,755.54

The NSR value is assigned to blocks using the following equation:

NSR TOTAL = Grade Au (g/t) * Rec Au (%) * 53.12 (US$/g) +  Grade Ag (g/t) * Rec Ag (%)0.41 (US$/g) + Grade Zn (%) * Rec Zn (%) 1,755.54 (US$/t)

A bench and fill mining method was evaluated for Guillermina, applying the parameters that were used for the Porvenir Project (Table 4). An NSR cut-off value was established by estimating the total unit operating cost, which included mining, processing, power, and general and administrative expenses, resulting in total operating cost of approximately $82.50 per tonne of mineralized material.

Table 4. Operating Cost Assumptions for Cut-Off Value Calculation Mineros

Operating Cost	Bench & Fill with Backfill
($/t)
Mining	36.56
Processing	28.13
Power	14.88
Tailings	2.89
Total	82.46

Notes:

1. All costs include G&A.
2. Numbers may not add due to rounding.

For the purposes of demonstrating reasonable prospects for eventual economic extraction, Mineral Resources are constrained within underground reporting shapes generated in Deswik Stope Optimizer (DSO) using a minimum mining width of one metre and an NSR cut-off value of $82.50/t (Figure 3).

There are no known legal, political, environmental, or other risks that could materially affect the potential development of Mineral Resources at Guillermina.

QUALITY ASSURANCE, QUALITY CONTROL, AND DATA VERIFICATION

Mineros has implemented a quality assurance/quality control (QA/QC) program aligned with industry best practices, in which certified reference materials (standards), duplicates, and blanks are routinely inserted into the sample stream to assess precision, accuracy, contamination and bias. All standards, duplicates and blanks are validated and any batches that fail QA/QC are reanalyzed.

Diamond drill core samples are selected by geologists on site; sample intervals are typically one metre in length, ranging from a minimum of 0.2 metres to a maximum of two metres. HTW-diameter diamond drill core to be sampled is cut in half lengthwise, with one half of the core stored on-site in wooden core boxes and the other half packed by Mineros geologists in plastic bags with tamper-proof seals, with a chain of custody procedure for delivery to the ALS Peru S.A. (“ALS Global Peru”) at its Managua, Nicaragua laboratory for sample preparation.

Until March 2023, Mineros used Bureau Veritas in Canada as its primary laboratory, and ALS Global Peru, in Lima, Peru thereafter.

Initially, the samples were sent for sample preparation with a chain of custody procedures for delivery to Bureau Veritas. Sample preparation was carried out following the PREP70-250 package (crushing of the entire sample to ≥70% passing 2-mm mesh, pulverization of 250 g ≥ 85% 75 µm. Samples were shipped to Bureau Veritas laboratory in Vancouver, Canada for geochemical analysis. Bureau Veritas is independent of Mineros.

Bureau Veritas is accredited to ISO/IEC 17025:2017 by the Standards Council of Canada (“ SCC ”). Samples, standards, duplicates and blanks are analyzed for gold using a standard fire assay method (30 g aliquot) and atomic absorption finish (AAS). Those over 10 ppm are reanalyzed by 30 g fire assay with gravimetric finish. All samples are analyzed for a 45-element suite, run with an aqua regia digestion and an ICP-ES/MS finish.

As of April 2023, the samples were sent for sample preparation with a chain of custody procedure for delivery to ALS Global Peru, at its Managua, Nicaragua laboratory for sample preparation, and subsequently to ALS Global Peru in Lima, Peru for geochemical analysis. Sample preparation is carried out following the PREP31 package (crushing of the entire sample to ≥70% passing 2-mm mesh, pulverization of 250 g ≥85% 75 µm). ALS Global Peru is accredited to ISO/IEC 17025:2017 by the SCC with validation date until 2029-03-01 and is independent of Mineros.

Samples, standards, duplicates, and blanks are analyzed for gold using a standard fire assay method (30 g aliquot) and AAS. Assays over 10 ppm are reanalyzed by 30 g fire assay with gravimetric finish. All samples are analyzed for a 51-element suite, using aqua regia digestion and an ICP-ES/MS finish.

All coarse rejects and pulps from both labs were returned and stored by the Company in a secure warehouse at the Hemco Property facility. Five percent of pulps are sent to secondary laboratory and analyzed using methods analogous to those at the primary laboratory.

NEXT STEPS

The 2025 drilling campaign at Guillermina commenced in July 2025 and is in progress with 2,000 meters planned. This program is designed to collect representative samples for metallurgical testing, consistent with the parameters established for the Porvenir Project, and will also serve as infill drilling to upgrade Inferred Mineral Resources to Indicated Mineral Resources. In parallel, Mineros has commenced evaluating potential mining methods and is actively exploring synergies with the Porvenir Project to support the potential expansion of the overall Mineral Resource inventory.

ABOUT MINEROS S.A.

Mineros is a Latin American gold mining company headquartered in Medellin, Colombia. The Company has a diversified asset base, with mines in Colombia and Nicaragua and a pipeline of development and exploration projects throughout the region.

The board of directors and management of Mineros have extensive experience in mining, corporate development, finance and sustainability. Mineros has a long track record of maximizing shareholder value and delivering solid annual dividends. For almost 50 years Mineros has operated with a focus on safety and sustainability at all its operations.

Mineros’ common shares are listed on the Toronto Stock Exchange under the symbol “MSA”, and on the Colombia Stock Exchange under the symbol “MINEROS”.

Election of Directors – Electoral Quotient System

The Company has been granted an exemption from the individual voting and majority voting requirements applicable to listed issuers under Toronto Stock Exchange policies, on grounds that compliance with such requirements would constitute a breach of Colombian laws and regulations which require the directors to be elected on the basis of a slate of nominees proposed for election pursuant to an electoral quotient system. For further information, please see the Company’s most recent annual information form, available on the Company’s website at https://www.mineros.com.co/ and from SEDAR+ at www.sedarplus.com.

QUALIFIED PERSON

Luis Fernando Ferreira de Oliveira, MAusIMM CP (Geo), Mineral Resources and Reserves Manager for Mineros S.A., who is qualified person within the meaning of NI 43-101 supervised the preparation of the information that forms the basis for this news release. Mr. Ferreira has verified the scientific and technical information in this release, including sampling, analytical and test data underlying the initial Mineral Resource estimate on Guillermina, and the opinions expressed herein.

CAUTIONARY NOTE REGARDING MINERAL RESOURCE ESTIMATES

In accordance with applicable Canadian securities regulatory requirements, all Mineral Resource estimates disclosed in this news release have been prepared in accordance with NI 43-101 and are classified in accordance with the CIM Standards.

Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. Pursuant to the CIM Standards, Mineral Resources have a higher degree of uncertainty than Mineral Reserves as to their existence as well as their economic and legal feasibility. Inferred Mineral Resources, when compared with Measured or Indicated Mineral Resources, have the least certainty as to their existence, and it cannot be assumed that all or any part of an Inferred Mineral Resource will be upgraded to an Indicated or Measured Mineral Resource as a result of continued exploration. Pursuant to NI 43-101, Inferred Mineral Resources may not form the basis of any economic analysis, including any feasibility study. Accordingly, readers are cautioned not to assume that all or any part of a Mineral Resource exists, will ever be converted into a Mineral Reserve, or is or will ever be economically or legally mineable or recovered.

FORWARD-LOOKING STATEMENTS

This news release contains “forward looking information” within the meaning of applicable Canadian securities laws. Forward looking information includes statements that use forward looking terminology such as “may”, “could”, “would”, “will”, “should”, “intend”, “target”, “plan”, “expect”, “budget”, “estimate”, “forecast”, “schedule”, “anticipate”, “believe”, “continue”, “potential”, “view” or the negative or grammatical variation thereof or other variations thereof or comparable terminology. Such forward looking information includes, without limitation, statements with respect to the estimate of Mineral Resources, the results of metallurgical studies being conducted; exploration and testing plans; future expansion and upgrading of Mineral Resources; the economic viability of the Porvenir Project and Guillermina; and future development to the Porvenir Project.

Forward looking information is based upon estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this news release. While the Company considers these assumptions to be reasonable, the assumptions are inherently subject to significant business, social, economic, political, regulatory, competitive and other risks and uncertainties, contingencies and other factors that could cause actual actions, events, conditions, results, performance or achievements to be materially different from those projected in the forward-looking information. Many assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct.

For further information of these and other risk factors, please see the “Risk Factors” section of the Company’s annual information form dated March 25, 2024, available on SEDAR+ at www.sedarplus.com.

The Company cautions that the foregoing lists of important assumptions and factors are not exhaustive. Other events or circumstances could cause actual results to differ materially from those estimated or projected and expressed in, or implied by, the forward-looking information contained herein. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information.

Forward-looking information contained herein is made as of the date of this news release and the Company disclaims any obligation to update or revise any forward-looking information, whether as a result of new information, future events or results or otherwise, except as and to the extent required by applicable securities laws.

____________________________________

1 Metal price assumptions, recoveries and grades used to calculate gold equivalent (AuEq) are set out in Notes 6 and 7 to Table 1 below in this press release.

View source version on businesswire.com:https://www.businesswire.com/news/home/20250724620243/en/

CONTACT: Ann Wilkinson

Vice President, Investor Relations

+1 (647) 496-3011

Ann.Wilkinson@Mineros.com.coJuan Obando

Director, Investor Relations

(+57) 574 266 5757

Juan.Obando@Mineros.com.co

KEYWORD: LATIN AMERICA NICARAGUA SOUTH AMERICA COLOMBIA CENTRAL AMERICA

INDUSTRY KEYWORD: MINING/MINERALS NATURAL RESOURCES

SOURCE: Mineros S.A.

Copyright Business Wire 2025.

PUB: 07/24/2025 08:31 AM/DISC: 07/24/2025 08:31 AM

http://www.businesswire.com/news/home/20250724620243/en

LONDON, UK AND VANCOUVER, BC / ACCESS Newswire / July 24, 2025 / CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) (“CoTec”) and Mkango Resources Ltd. (AIM:MKA)(TSXV:MKA) (“Mkango”) are pleased to announce a feedstock supply and pre-processing site share agreement between global electronics recycling company, Intelligent Lifecycle Solutions, LLC (“ILS”), and HyProMag USA, LLC (“HyProMag USA” or the “Project”) (the “Supply Agreement”).

• ILS will secure and store neodymium iron boron (“NdFeB”) feedstock from hard disk drives (“HDDs”) and other sources for HyProMag USA at the ILS pre-processing sites in Williston, South Carolina and Reno, Nevada (the “ILS pre-processing sites”) in advance of the commissioning of HyProMag USA’s advanced stage rare earth magnet recycling and manufacturing plant to be located in Dallas-Fort Worth, Texas (the “DFW Hub”)

• ILS will utilise the INSERMA ANOIA SL (“Inserma”) “3rd generation” HDD magnet separation system at its pre-processing sites. An exclusive agreement was signed between the HyProMag Group and Inserma in September 2024[i], and the Inserma technology is being rolled out across multiple jurisdictions

• The improved Inserma units provide fast, efficient magnet separation from HDDs for Hydrogen Processing of Magnet Scrap (“HPMS”) processing together with clean separation of the printed circuit board for immediate resale to 3rd parties

• HyProMag USA is, inter alia, targeting HDD recycling geared to the growth of hyperscale data centers, which is expected to accelerate significantly in coming years

• HyProMag USA will include the ILS pre-processing sites in its detailed design and engineering. The ILS pre-processing sites will be able to source multiple feed types to provide supply feed to the Project’s magnet recycling and manufacturing hub in Dallas-Fort Worth. Other NdFeB feedstock sources being successfully processed to date by HyProMag include rotors from electric motors, wind turbine magnets, speaker assemblies and MRIs

• The Supply Agreement is expected to be the first in several supply agreements to be entered into by HyProMag USA as the Project advances to construction and commissioning

ILS is a global electronics recycling company processing electronic waste. It is a full-service IT asset disposition, electronics recycling and scrap purchasing company and is fully compliant in ISO 14001:2015, ISO 45001:2018 and “Responsible Recycling R2v3 Recycler” at its USA locations. Through ILS, HyProMag USA will provide full traceability on its products to support the “closed loop” circular economy and critical mineral supply chains within the United States.

The collaboration builds on the relationship established between ILS, HyProMag Limited (“HyProMag”) and the Magnetic Materials Group (“MMG”) at the University of Birmingham (“UoB”) through a number of European projects, including the 2020 Innovate UK[ii] grant funded project, “Rare-Earth Recycling for E-Machines” (“RaRE”) project with Hydrogen Processing of Magnet Scrap (“HPMS”) in which HyProMag produced sintered NdFeB magnets from ILS feedstock, and HyProMag continues to work closely with ILS across multiple jurisdictions.

Julian Treger, CoTec CEO commented: “We are very excited to partner with ILS to grow the feed supply market in the United States and this collaboration is a first step in securing reliable long-term feed supply for HyProMag USA to sustain the Project as we advance towards construction. We believe that over time we will be able to build sufficient feedstock to sustain several magnet recycling and manufacturing hubs as the Company establishes itself as a key player in the US REE magnet industry.”

“HyProMag USA is progressing with its financing and detailed design and has the potential to supply the U.S. market with a sustainable, long term domestic supply of NdFeB permanent magnets, enabling the creation of secure, low carbon and traceable rare-earth supply chains.”

Will Dawes, Mkango CEO commented: “The agreement with ILS, coupled with the Inserma and HPMS technologies, creates a highly competitive and integrated circular solution for recycling of NdFeB from HDDs, encompassing procurement of HDDs via ILS, pre-processing using Inserma technologies, magnet liberation using HPMS and short-loop magnet manufacturing to produce a high value rare earth NdFeB magnet with a very low carbon footprint. Furthermore, the agreement kick-starts operations on the ground, securing NdFeB inventory in advance of commissioning of the DFW hub, and will facilitate increased engagement in USA markets as we move towards project development.”

Graham Davy, ILS CEO, commented: “We are delighted to be formalising our longstanding partnership with HyProMag. Lifecycle Solutions will be using our infrastructure to procure nationally rare earth material from government, manufacturing, and businesses as well as other recycling sources. Our clients value HyProMag’s short-loop, low carbon solution whist retaining critical materials within the USA. Lifecycle Solutions will use its R2 accredited facilities in South Carolina, Nevada, to acquire and preprocess Rare Earth material for HyProMag USA. Magnets recovered from its subsidiary hard disk drive business will also be supplied.”

HyProMag USA Feasibility Study

The Feasibility Study includes the DFW Hub, and two pre-processing facilities located in South Carolina and Nevada respectively[iii]. In March 2025, HyProMag USA announced the expansion of the detailed engineering phase to include three HPMS vessels[iv] and that it was initiating concept studies for further expansion and complementary “Long Loop” recycling[v]. The DFW Hub’s annual production is expected to be 750 metric tons per annum of recycled sintered NdFeB magnets and 807 metric tons per annum of associated NdFeB co-products (total payable capacity – 1,557 metric tons NdFeB within five years of commissioning) over a 40-year operating life. It is expected the production facility will provide significant optionality to supply the U.S. market with additional NdFeB alloy powder while assisting in revitalising the U.S. magnet sector with the creation of 90-100 skilled magnet manufacturing jobs.

In March 2025, HyProMag USA announced the results of an independent ISO-Compliant product carbon footprint study which confirmed an exceptionally low CO2 footprint of 2.35 kg CO2 eq. per kg of NdFeB cut sintered block product.[vi]

Ownership

HyProMag USA is owned 50:50 by CoTec and HyProMag Limited. HyProMag Limited is 100 per cent owned by Maginito Limited (“Maginito”), which is owned on a 79.4/20.6 per cent basis by Mkango and CoTec.

About HyProMag

HyProMag is commercializing HPMS recycling technology in the UK, Germany and the United States. HPMS technology was developed at the Magnetic Materials Group (MMG) at University of Birmingham, underpinned by approximately US$100 million of research and development funding, and has major competitive advantages versus other rare earth magnet recycling technologies, which are largely focused on chemical processes but do not solve the challenges of liberating magnets from end-of-life scrap streams – HPMS provides this solution.

About CoTec Holdings Corp.

CoTec is a publicly traded investment issuer listed on the Toronto Venture Stock Exchange (“TSX-V”) and the OTCQB and trades under the symbols CTH and CTHCF respectively. CoTec Holdings Corp. is a forward-thinking resource extraction company committed to revolutionizing the global metals and minerals industry through innovative, environmentally sustainable technologies and strategic asset acquisitions. With a mission to drive the sector toward a low-carbon future, CoTec employs a dual approach: investing in disruptive mineral extraction technologies that enhance efficiency and sustainability while applying these technologies to undervalued mining assets to unlock their full potential. By focusing on recycling, waste mining, and scalable solutions, the Company accelerates the production of critical minerals, shortens development timelines, and reduces environmental impact. CoTec’s strategic model delivers low capital requirements, rapid revenue generation, and high barriers to entry, positioning it as a leading mid-tier disruptor in the commodities sector.

For more information, please visit www.cotec.ca.

About Mkango Resources Ltd.

Mkango is listed on the AIM and the TSX-V. Mkango’s corporate strategy is to become a market leader in the production of recycled rare earth magnets, alloys and oxides, through its interest in Maginito, which is owned 79.4 per cent by Mkango and 20.6 per cent by CoTec, and to develop new sustainable sources of neodymium, praseodymium, dysprosium and terbium to supply accelerating demand from electric vehicles, wind turbines and other clean energy technologies.

Maginito holds a 100 per cent interest in HyProMag and a 90 per cent direct and indirect interest (assuming conversion of Maginito’s convertible loan) in HyProMag GmbH, focused on short loop rare earth magnet recycling in the UK and Germany, respectively, and a 100 per cent interest in Mkango Rare Earths UK Ltd (“Mkango UK”), focused on long loop rare earth magnet recycling in the UK via a chemical route.

Maginito and CoTec are also rolling out HPMS recycling technology into the United States via the 50/50 owned HyProMag USA LLC joint venture company.

Mkango also owns the advanced stage Songwe Hill rare earths project in Malawi (“Songwe”) and the Pulawy rare earths separation project in Poland (“Pulawy”). Both the Songwe and Pulawy projects have been selected as Strategic Projects under the European Union Critical Raw Materials Act. Mkango has signed a Business Combination Agreement with Crown PropTech Acquisitions to list the Songwe Hill and Pulawy rare earths projects on NASDAQ via a SPAC Merger.

For more information, please visit www.mkango.ca

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (‘MAR’), which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements (within the meaning of that term under applicable securities laws) with respect to Mkango and CoTec. Generally, forward looking statements can be identified by the use of words such as “plans”, “expects” or “is expected to”, “scheduled”, “estimates” “intends”, “anticipates”, “believes”, or variations of such words and phrases, or statements that certain actions, events or results “can”, “may”, “could”, “would”, “should”, “might” or “will”, occur or be achieved, or the negative connotations thereof. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. Such factors and risks include, without limiting the foregoing, the availability of (or delays in obtaining) financing to develop Songwe Hill, the Recycling Plants being developed by Maginito in the UK, Germany and the United States (the “Maginito Recycling Plants”), governmental action and other market effects on global demand and pricing for the metals and associated downstream products for which Mkango is exploring, researching and developing, geological, technical and regulatory matters relating to the development of Songwe, the ability to scale the HPMS and chemical recycling technologies to commercial scale, competitors having greater financial capability and effective competing technologies in the recycling and separation business of Maginito and Mkango, availability of scrap supplies for Maginito’s recycling activities, government regulation (including the impact of environmental and other regulations) on and the economics in relation to recycling and the development of the Maginito Recycling Plants, and the Pulawy separation plant and future investments in the United States pursuant to the proposed cooperation agreement between Maginito and CoTec, the outcome and timing of the completion of the Feasibility Studies, cost overruns, complexities in building and operating the plants, and the positive results of Feasibility Studies on the various proposed aspects of Mkango’s, Maginito’s and CoTec’s activities. The forward-looking statements contained in this press release are made as of the date of this news release. Except as required by law, the Company and CoTec disclaim any intention and assume no obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise, except as required by applicable law. Additionally, the Company and CoTec undertake no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.

For further information on CoTec, please contact:

CoTec Holdings Corp.

Braam Jonker

Chief Financial Officer

braam.jonker@cotec.ca

+1 604 992-5600

For further information on Mkango, please contact:

Mkango Resources Limited

William Dawes

Chief Executive Officer

will@mkango.ca

+1 403 444 5979

Alexander Lemon

President

alex@mkango.ca

www.mkango.ca

@MkangoResources

SP Angel Corporate Finance LLP

Nominated Adviser and Joint Broker

Jeff Keating, Jen Clarke, Devik Mehta

UK: +44 20 3470 0470

Alternative Resource Capital

Joint Broker

Alex Wood, Keith Dowsing

UK: +44 20 7186 9004/5

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. 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.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any equity or other securities of the Company in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) and may not be offered or sold within the United States to, or for the account or benefit of, U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.

[i]

[ii]

[iii]

[iv]

[v] Conventional leach, extraction purification and precipitation process

[vi]

SOURCE: CoTec Holdings Corp.

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Vancouver, British Columbia–(Newsfile Corp. – July 23, 2025) – Route 109 Resources Inc. (TSXV: RTE) (OTCQB: MRIRF) (FSE: 8M0) (” Route109″ or the “Company “) announces results from its 2025 winter drilling program on Dunlop Bay property confirming the presence of a Au-Cu-Mo porphyry-style mineralized system related with the Dunlop Bay intrusion. The 2025 winter program included two drillholes designed to test the eastern tip of the Dunlop Bay Intrusion (see drillhole BD-25-31 and BD-25-32 on Figure 1). Those drillholes intersected intrusive rocks that returned anomalous Au-Cu-Mo results. A similar base metals package that was found and assay results were released previously released for Dunlop Bay West (see May 29, 2025 Route109 Press Release ). The information obtained from these drill holes (Table 1) coupled with historical information (Table 2, GM 48615 and GM 44938 ) allow the company to conclude that a part of the mineralization found on the Dunlop Bay property is related to a porphyry-style system which is atypical of the Matagami region.

Figure 1: 2025 Dunlop Bay property drilling program planned collars.

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Results presented in Table 1, compared with previously released information from Dunlop Bay North, Clairet and Dunlop Bay West (see May 29, 2025 Route109 Press Release ), show two different styles of mineralization. Dunlop Bay West, located near the intrusion contact and drillholes 31 and 32, located within the Dunlop Bay intrusion, both reveal enrichment in Mo-Cu-Au when compared to the Clairet and Dunlop Bay North areas, located more distally from the intrusion and hosting a much more classical VMS-related base metal enrichment.

Robert Pryde, CEO of the company said: “We are quite excited by the evidence of porphyry-style mineralization within the Dunlop Bay property. Over a three-year period, RTE has been actively exploring for high-grade gold and silver within the Abitibi Greenstone belt complexes in the Matagami region. These results show the exploration potential of the property which needs to be followed up with additional geophysics and drilling targeting the porphyry system.”

DDH	From	To	Length	Au (g/t)	Ag (g/t)	Cu (ppm)	Mo (ppm)	Pb (ppm)	Zn (ppm)
BD-25-31	18.5	19	0.5	7.05	11.6	569	5	17	88
34	34.5	0.5	0.024	0.25	157	136	7	80
50	50.5	0.5	0.291	0.25	136	7	4	96
52	52.5	0.5	0.048	0.25	206	1620	3	103
57.5	58	0.5	0.391	0.7	173	9	3	100
72.9	73.4	0.5	0.152	0.25	1130	6	2	92
72.9	73.4	0.5	0.152	0.25	1130	6	2	92
192	192.5	0.5	0.136	0.25	389	23	4	71
BD-25-32	41.8	43	1.2	0.126	0.25	34	1	7	32
49.2	51.7	2.5	0.427	1.47	95.32	11.12	0	24.6
58.5	60	1.5	0.219	0.25	55	2	3	27
63	63.7	0.7	0.344	0.25	12	2	2	25
73.5	74.1	0.6	0.706	1.3	67	5	10	42
98.4	99.3	0.9	0.11	0.5	420	3	5	56
104.6	108.45	3.85	0.242	2.38	1283.97	12.86	0	36.52
133.5	134.1	0.6	0.205	1.7	11	2	7	39

Table 1: Best results from drillholes BD-25-31 and BD-25-32 located within the Dunlop Bay intrusion.

As displayed in Figure 1 and Table 1, several gold intersections were encountered in the Dunlop Bay Intrusion by historical drilling. This winter program further validates the presence of gold in the intrusion as well as demonstrates the presence of Cu and Mo in association with the gold.

Table 2: Highlights from historical drilling located within the Dunlop Bay intrusion (source: GM 48615 and GM 44938).

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As shown in Table 2 and Figure 2, both drill holes returned several gold showings (going up to 7.05 ppm Au, 11.60 ppm Ag, 569 ppm Cu over 0.5 meter in drillhole BD-25-31), copper (0.13% Cu over 3.85 meters in drillhole BD-25-32), and molybdenum (going up to 1620 ppm Mo over 0.50 meter in drillhole BD-25-31). Note that drillhole BD-25-31, drilled westward, intersected a diorite intrusive body (low content of potassic felspar, see Figure 3A) while BD-25-32, drilled eastward, intersected a syenite intrusive body (up to 85% feldspar, mostly potassic, see Figure 3B). Due to overburden thickness a 38-meter untested gap, which hosts the contact between the two intrusive units, as of yet remains unexplored.

Figure 2: Cross section looking at N341 showing drill hole BD-25-31 and BD-25-32 geology and assay.

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Core photos presented in Figure 3B, show the syenite as mainly massive, medium to coarse grained and hosts several intervals containing veinlets, sericite-albite-silicification and/or hematisation alterations. The diorite presented in Figure 3A is described as massive, medium to coarse grained and with a weak to moderate epidote, calcite and local potassic alterations. For both drillholes, intervals returning gold, copper, and molybdenum are correlating with observed veinlets and alterations.

This type of mineralization is not common to the immediate Matagami area, the best example in Archean rocks is the Cu-Au-Mo system in the Chibougamau area, in the NZV of the Abitibi belt, Québec (Labbé et al., 2006).

The characteristics of these porphyry deposits include:

1) networks of veinlets and fractures mineralized with pyrite + chalcopyrite + Mo,
2) massive sulfide lodes of kilometric extent bordered by chlorite and sericite alteration,
3) different generations of hydrothermal breccia, and
4) “inter-mineralization” dykes (Pilote et al., 1998).

It is noteworthy that mineralization in the Dunlop block is interpreted to be genetically related to a porphyry system (Dunlop West, Pluton and the NW2 2023 trenches) and shares similar characteristics to the “Chibougamau” type, Porphyry such as: massive sulfide lodes, veins, breccia-hosted sulfides and sulfide disseminations.

Figure 3: A) Dioritic rock from BD-25-31; B) Syenitic rock from BD-25-32.

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It is interpreted that mineralization of the Dunlop West, Pluton and the NW2 2023 trenches are genetically related to the same porphyry system:

1) Porphyry types are commonly huge mineralized systems as exemplified by the Chibougamau area.
2) All the showings are aligned along a >2km long N-S trend, coincident with a N-S high mag trend (Figure 4). This trend is mostly untested by drilling.
3) The Dunlop Bay showing can also be included in the N-S trend (Figure 4), where mineralized loads are NW trending, whereas the Marcelle vein also curves to an N-S strike westward.
4) Finally, because the pluton is late tectonic, mineralization was fed from below. Consequently, the showings are interpreted to be the upper part exposures of a more developed and continuous mineralization at depth.

This new interpretation of the N-S trending mineralizing system opens up the exploration potential along an N-S trend over a 2km long strike length”.

Laurentia Exploration of Saguenay Quebec was responsible for the drilling program, core logging and sample selection for geochemical sampling and assay.

Figure 4 – Dunlop Bay Property 2025 Drilling Results Prospective Porphyry outline in Red

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Qualified Person

Maxime Bouchard, Geo, M.Sc. (OGQ #1752), an independent Qualified Person as defined by Canadian NI 43-101 standards, has reviewed, and approved the geological information reported in this news release. The exploration and soil program were planned and supervised by Maxime Bouchard. The Qualified Person has not completed sufficient work to verify the historical information on the Property, particularly regarding historical drill results. However, the Qualified Person believes that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.

About Route 109 Resources Inc.

Route 109 Resources Inc. is a junior Canadian mining exploration company with the primary objective to acquire, explore, and develop viable gold and base metal projects in the mining-friendly jurisdiction of Quebec, Canada. Route109 is currently fully focused on its 100% interest in the two projects, both located in the prolific Abitibi greenstone belt:

King Tut Project consists of 120 contiguous claims on 5,206 hectares

Dunlop Bay Project consists of 76 mineral claims that cover 4,226 hectares

Route109 common shares trade under the symbol “RTE” on the TSX-V and under the symbol 8M0 on the Frankfurt Exchange.

For further information please contact:

Route 109 Resources Inc.

Robert Pryde, President
Tel: +1 (403) 478 6042
Email: …

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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

This news release contains “forward-looking statements” and “forward-looking information” (as defined under applicable securities laws), based on management’s best estimates, assumptions, and current expectations. Such statements include but are not limited to, statements with respect to the plans for future exploration and development of the King Tut and Dunlop Bay properties and the acquisition of additional exploration projects. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “expects”, “expected”, “budgeted”, “forecasts” , “anticipates” “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “aims”, “potential”, “goal”, “objective”, “prospective”, and similar expressions, or that events or conditions “will”, “would”, “may”, “can”, “could” or “should” occur. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those expressed or implied by such statements, including but not limited to: risks related to the King Tut and Dunlop Bay projects; risks related to general economic conditions, actual results of current exploration activities, unanticipated reclamation expenses; changes in project parameters as plans continue to be refined; fluctuations in prices of metals including gold; increases in market prices of mining consumables, possible variations in resource estimates, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; delays in the completion of exploration, development or construction activities, changes in national and local government regulation of mining operations, tax rules and regulations, and political and economic developments in areas in which the Company operates. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The forward-looking statements and forward-looking information are made as of the date hereof and are qualified in their entirety by this cautionary statement. The Company disclaims any obligation to revise or update any such factors or to publicly announce the result of any revisions to any forward-looking statements or forward-looking information contained herein to reflect future results, events or developments, except as require by law. Accordingly, readers should not place undue reliance on forward-looking statements and information. Please refer to the Company’s most recent filings under its profile at for further information respecting the risks affecting the Company and its business.

References:

LABBÉ, J.-Y. – PILOTE, P. – LAMOTHE, D. 2006 – Évaluation du potentiel minéral pour les gîtes porphyriques de Cu-Au-Mo de l’Abitibi. Ressources naturelles et Faune, Québec, EP 2006-03. 46 p.

PILOTE, P. – ROBERT, F. – KIRKHAM, R.V. – DAIGNEAULT, R. – SINCLAIR, W.D., 1998 – Minéralisations de type porphyrique et filoniennes dans le Complexe du lac Doré – les secteurs du lac Clark et de l’île Merrill. Dans : Géologie et métallogénie du district minier de Chapais-Chibougamau; éditeur : P. Pilote. Ministère des Ressources naturelles, Québec; DV 98-03, page 71-90.

To view the source version of this press release, please visit

SOURCE: Route 109 Resources Inc.

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Seven & i offers further response to Couche-Tard’s withdrawal of it acquisition bid. | Alimentation Couche-Tard, Seven & i

Seven & i Holdings Co. Ltd., parent of the 7-Eleven convenience-store brand, has offered additional details “in light of Alimentation Couche-Tard Inc.’s (ACT) unilateral decision to withdraw its acquisition proposal” and its “highly misleading” public letter effectively ending its more than $47 billion takeover bid that would have combined the 7-Eleven and Circle K c-store brands. The Tokyo-based company said Couche-Tard did not take antitrust concerns seriously, wrongly criticized Seven & i’s governance and does not understand the Japanese market.

Seven & i said the Special Committee of the Board of Directors was “compelled” to provide an update to its previous response to Couche-Tard’s claims.

“We have worked for about a year to explore the possibility of a deal with ACT,” Seven & i’s special committee said in a letter posted Tuesday. “We consistently engaged in good faith, and we are disappointed that ACT has decided to walk away from these discussions. We are further disappointed that they have done so in a way that completely mischaracterizes both our engagement and the significant hurdles this transaction faced that they were not committed to resolving.”

Seven & i also said it is “moving forward with unwavering focus to execute our standalone value creation plan and unlock the value of our businesses.”

The committee “believes management’s plan is concrete and actionable. With the proceeds from the sale of the company’s superstore business and an [initial public offering (IPO)] of our North American convenience-store business, management aims to return approximately JPY 2Tn ($13.6 billion U.S.) to shareholders through share buybacks by the end of [full-year] 2030. Management is also moving quickly to improve key areas of our operations to enhance performance metrics over both the medium and longer term.”

Seven & i has proposed an initial public offering (IPO) for 7-Eleven in the United States and is exploring options for potential divestitures to minimize possible antitrust issues.

Seven & i asserts that Couche-Tard “did not take antitrust concerns seriously” for a transaction with an “unprecedented level of pre-deal scrutiny.” It said the deal could not happen without “very significant divestiture,” but Couche-Tard did not identify a “viable strategic buyer who would meet with the [Federal Trade Commission’s (FTC)] approval. … the only potential buyers that emerged were private equity firms, which are not viewed as desirable buyers by the FTC.”

Seven & i said it had identified 2,000 or more overlapping stores that could be divested. Couche-Tard said it had identified a potential divestiture portfolio of U.S. stores.

“We did everything we could to find a divestiture solution, recognizing the extraordinary challenge,” Seven & i said.

Seven & i also said, “Suggestions that our governance was not up to the task or fell back on a conventional “Japan Inc” mentality are simply wrong. Recently, Japanese companies have enhanced their corporate governance. We have been well ahead of other Japanese companies in how we responded to ACT’s unsolicited offer.”

And it said Couch-Tard’s “unhappiness with our engagement demonstrates an unfortunate lack of knowledge of the Japanese market. … To suggest that our management presentations were scripted is to misunderstand Japanese culture.”

Seven & i concluded, “We understand and respect the operational, financial and market challenges their business is facing, and we recognize how financing markets have changed. But there is no need to blame Seven & i for that reality. ACT decided on its own it was easier to walk away. Now we are turning our full attention to creating value through our standalone plan.”

Couche-Tard, meanwhile, on Monday announced that the Toronto Stock Exchange (TSX) has approved a share repurchase program to enhance operational performance and shareholder value. It authorizes the company, through July 22, 2026, to repurchase up to 77,115,921 shares, representing 10% of the 771,159,210 shares comprising Couche-Tard’s “public float” (outstanding shares that are available for public trading on the open market) as of July 14. Based on the current share price, this would represent a total investment of approximately $4.2 billion, the company said. 

• 7-Eleven is No. 1 and Alimentation Couche-Tard is No. 2 on CSP’s 2025 Top 202 ranking of c-store chains by U.S. store count.

Laval, Quebec-based Alimentation Couche-Tard owns more than 16,700 c-stores, including nearly 7,300 Circle K, Holiday Stationstores and GetGo and other c-stores in the United States, more than 2,100 c-stores in Canada and approximately 7,500 more in 28 additional countries and territories.

Seven & i owns more than 85,000 7-Eleven c-stores in 19 countries and regions globally. Irving, Texas-based 7-Eleven Inc. has more than 13,000 7-Eleven, Speedway and other convenience stores in the United States and Canada.

Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.

Greg Lindenberg has been covering convenience-store news and writing about the c-store and gas station industries for more than a quarter of a century. He specializes in mergers-and-acquisitions (M&A) news.

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(MENAFN– GlobeNewsWire – Nasdaq) TORONTO, July 23, 2025 (GLOBE NEWSWIRE) — McEwen Inc. (NYSE: MUX) (TSX: MUX) (“McEwen”, “MUX” or the “Company”) is pleased to announce the discovery of high-grade mineralization approximately 200 meters West of the Froome Mine, which is the current source of production at the Fox Complex. This discovery will extend our mining at Froome.

Highlights from Drilling at Froome West:

Intercepts along the Froome West high-grade plunge (refer to Figures 2 and 3 ):

Hole 25PR-G424 returned 36.0 g/t gold over 10.0 m (including 160.0 g/t gold over 2.2 m ), and 9.3 g/t gold over 7.8 m .

Hole 25PR-G399 returned 6.7 g/t gold over 3.4 m .

Hole 25PR-G381 returned 15.0 g/t gold over 6.6 m and 4.9 g/t gold over 2.2 m .

Extending mineralization further West (refer to Figures 2 and 3 ):

Hole 25PR-G390 returned 11.7 g/t gold over 2.4 m and 18.5 g/t gold over 0.5 m , representing drill intercepts of two of the stacked mineralized zones stepping out to the West.

Hole 25PR-G413 returned 22.1 g/t gold over 1.8 m .

Unless specified as core widths (CW), all assay intervals in this press release are presented as true widths (TW).

The mineralization we see at Froome West occurs as several sub-vertical, stacked mineralized lenses which can often lead to increased flexibility during mining. Within these lenses we are seeing a concentration of high grade in a roughly 15 to 25 meters wide, vertically oriented trend (or plunge). Gold mineralization remains open to the West and at depth, which encourages further exploration in both directions.

Froome West mineralization is similar in style to that seen at the Black Fox deposit (approx. 900 meters to the East and shown in Figure 1 ), characterized by structurally controlled, stacked, sub-vertically dipping quartz-carbonate veins, with occurrences of visible gold (VG) and showing a steep high-grade plunge. Total historical production at the Black Fox and Froome mines is 1.1 million gold ounces . The exploration program at Froome West will continue drilling to test deeper (along the down-dip extension of the high-grade plunge), and laterally (westward along strike), to evaluate broader regional mineralization trends.

Figure 1 below provides an aerial view showing the location of the Froome West mineralization in relation to the Froome Mine deposit currently being mined and the historic Black Fox Mine, including its open pit and underground workings. Future mining activities at Froome West will continue to use the existing infrastructure currently used for mining operations at the Froome Mine.

Figure 1. Aerial View of the Locations of Froome West, Froome Mine and Historical Black Fox Mine

Mining infrastructure development on four levels is planned and already underway at Froome West, starting from the existing workings at the producing Froome Mine and extending 200 meters toward the West zones. This is shown in blue in Figures 2 and 3 . The new infrastructure will allow for access and testing for extensions of the Froome West mineralization.

Table 1 lists the new drilling results for Froome West that are presented in this press release.

Table 1. Froome West Drill Results Highlights

Hole ID	From (m)	To (m)	Core Width (CW) (m)	True Width (TW) (m)	Grade Au (g/t) Uncapped	Au x TW (g/t x m) Uncapped
25PR-G380	167.0	169.0	2.0	1.4	15.9	21.7
25PR-G381	158.0	161.0	3.0	2.2	4.9	10.8
And	173.0	182.0	9.0	6.6	15.0	99.4
25PR-G382	181.8	185.7	3.9	3.1	16.0	49.5
And	190.5	195.0	4.6	3.6	10.8	39.2
25PR-G383	176.1	183.4	7.3	5.0	6.5	32.6
And	210.1	213.0	2.9	2.0	8.9	18.0
25PR-G384	183.8	191.0	7.2	4.7	4.7	21.9
And	215.6	222.0	6.5	4.2	3.9	16.3
And	229.8	234.0	4.2	2.7	3.6	9.9
25PR-G390	132.8	133.7	0.9	0.5	18.5	10.0
And	192.2	196.0	3.8	2.4	11.7	28.1
25PR-G393	154.2	158.0	3.9	2.3	5.7	13.4
25PR-G394	129.2	133.0	3.8	3.0	7.4	22.0
25PR-G399	113.8	120.0	6.2	3.4	6.7	23.1
25PR-G400	37.8	45.2	7.4	5.2	6.2	31.8
25PR-G401	120.0	133.4	13.4	8.8	5.2	46.2
25PR-G402	232.0	240.0	8.0	3.5	3.7	12.8
25PR-G406	190.6	194.6	4.0	2.0	4.2	8.4
And	228.2	241.0	12.9	6.4	3.4	21.6
25PR-G411	152.1	156.9	4.8	2.8	3.4	9.3
25PR-G413	56.0	58.7	2.7	1.8	22.1	39.0
25PR-G416	194.5	196.3	1.7	1.1	14.7	16.1
25PR-G424	103.0	121.0	18.0	10.0	36.0	360.0
Including	115.0	119.0	4.0	2.2	160.0	355.2
And	126.0	140.0	14.0	7.8	9.3	72.9

The long section view A-A’ in Figure 2 below (location shown on Figure 1 ) shows the outline of the mineralized zones at Froome West and the locations of the drill hole intercepts listed in Table 1 above. The high-grade plunge is identified by the darker orange vertical lines, located to the Eastern side, close to the planned early infrastructure, and shows the potential expansion of the mineralized zone both to depth (down-dip) and to the West along strike.

Figure 2. Long Section View A-A’ Looking East Northeast, Showing the Newly Discovered Froome West Mineralization (Orange), Including the High-Grade Plunge (Bright Orange), 200 Meters from the Froome Mine Operations , Where We Are Currently Mining (Olive Green and Green)

The cross-section view B-B’ in Figure 3 below (location shown in Figure 1 ) shows the stacked lenses seen at Froome West. The section also shows the planned and current infrastructure (in blue), along with some of the notable drillhole intercepts received for this drilling campaign.

Figure 3. Cross Section View B-B’ Looking Northwest, Showing the Stacked Mineralized Zones West of Froome Mine and Notable Drill Hole Intercepts

This discovery of high-grade mineralization will extend the mining at Froome and provide more optionality in our mine plan for the Fox Complex. As mentioned in previous announcements (see our June 5^th press release and the Annual Meeting presentation from June 19^th, 2025), our Stock Mine is part of the mine plan for the Fox Complex and is expected to come into commercial production in 2026.

“We are excited at the potential of what Froome West holds, in an area of our property that is relatively underexplored; our current mineralization model extends to a depth of 250 meters and remains open both at depth and to the West. The nearby Black Fox Mine historically produced nearly 1 million gold ounces, from mining that extended down to 800 meters below surface. With geology and mineralization styles comparable to those seen at Black Fox, which encountered mineralization as deep as 1,000 meters, the Froome West area has the potential to lead us to the discovery of a deposit of similar scale and significance,” said Chief Geologist Rob Glover.

A table of drill results at Froome West up until July 16^th, 2025 that includes hole locations and alignments is available on the Company’s website and can be accessed by clicking here .

Technical Information

Technical information pertaining to the Fox Complex exploration contained in this news release has been prepared under the supervision of Robert Glover, P.Geo., McEwen Ontario’s Chief Geologist, who is a Qualified Person as defined by SEC S-K 1300 and Canadian Securities Administrators National Instrument 43-101 “Standards of Disclosure for Mineral Projects.”

The majority of the analyses reported herein were submitted as whole core samples and assayed by the photon assay method at the accredited laboratory MSA Labs (ISO 9001 & ISO 17025) in Timmins, Ontario, Canada. Additional analyses reported herein were submitted as whole core samples and assayed by the Fire Assay method at the McEwen Mine Assay Lab in Timmins, Ontario, Canada.

ABOUT MCEWEN

McEwen provides its shareholders with exposure to gold, copper and silver in the Americas by way of its three mines located in the USA, Canada and Argentina and its large advanced-stage copper development project in Argentina. It also has a gold and silver mine on care and maintenance in Mexico. Its Los Azules copper project aims to become one of the world’s first regenerative copper mines and is committed to carbon neutrality by 2038.

Rob McEwen, Chairman and Chief Owner, has personally invested US$205 million in the companies and takes a salary of $1/ year. He is a recipient of the Order of Canada and a member of the Canadian Mining Hall of Fame. His objective for MUX is to build its share value and establish a dividend, as he did while building Goldcorp Inc.

McEwen’s shares are publicly traded on the New York Stock Exchange (NYSE) and the Toronto Stock Exchange (TSX) under the symbol “MUX”.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements and information, including “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements and information expressed, as at the date of this news release, McEwen Inc.’s (the “Company”) estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies, and there can be no assurance that such statements and information will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements and information. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements and information include, but are not limited to, fluctuations in the market price of precious metals, mining industry risks, political, economic, social and security risks associated with foreign operations, the ability of the Company to receive or receive in a timely manner permits or other approvals required in connection with operations, risks associated with the construction of mining operations and commencement of production and the projected costs thereof, risks related to litigation, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of mineral resources and reserves, foreign exchange volatility, foreign exchange controls, foreign currency risk, and other risks. Readers should not place undue reliance on forward-looking statements or information included herein, which speak only as of the date hereof. The Company undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See McEwen Inc.’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and other filings with the Securities and Exchange Commission, under the caption “Risk Factors”, for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information regarding the Company. All forward-looking statements and information made in this news release are qualified by this cautionary statement.

The NYSE and TSX have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by the management of McEwen.

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Bitcoin miner Bitfarms’ stock surged Tuesday after the Canadian company announced a share buyback program. 

Bitfarms—which trades on both the Toronto Stock Exchange and Nasdaq—was recently trading higher on the American index (NASDAQ: BITF) by nearly 14%, at a price of $1.28. 

The Toronto-based company said that it is now authorized to purchase up to 49,943,031 of its common shares out of the 557,548,857 common shares outstanding—about $64 million worth at the current price. This represents up to 10% of Bitfarms’ public float of 499,430,313 common shares.

“We believe that Bitfarms’ shares are currently undervalued because our Bitcoin business is underappreciated by the market, with little to no value being associated with our high-performance computing potential,” said Bitfarms CEO Ben Gagnon, in a statement.

A share buyback is when a company buys its own stock, with the hope of increasing its price by taking it off the market and reducing its supply.

Bitcoin mining giant Bitfarms in March bought Stronghold Digital Mining as part of a bigger push into the artificial intelligence industry. 

Bitcoin miners are homing in on AI; as both industries require huge amounts of energy and data centers, mining operations are able to use their existing infrastructure to cater to the demand for AI.

Bitcoin mining—the business of processing transactions and minting new digital coins—is a tough industry, as the price of the leading cryptocurrency is volatile. If it drops too much, then miners can struggle to cover their expenses. And mining difficulty is frequently increasing, further complicating matters for such companies.

Bitfarms is one of the biggest miners in the space, with 15 data centers scattered through Canada, the U.S., Argentina, and Paraguay.

Bitfarms announced on Tuesday that it has launched a stock buyback program, which lifted its stock price by almost 18%.

The firm received approval to buy back as many as 49.94 million of its common shares over the coming year. This limit represents up to 10 percent of its public float, which stood at 499.4 million common shares. The repurchase window runs from July 28, 2025, through July 27, 2026.

Bitfarms said it can acquire shares on the Nasdaq, the Toronto Stock Exchange, or through any other method allowed by those markets or by law.

“We believe that Bitfarms’ shares are currently undervalued because our Bitcoin business is underappreciated by the market, with little to no value being associated with our HPC potential,” CEO Ben Gagnon said in a press release. 

“This Program demonstrates our confidence in Bitfarms’ business, our management team, and most importantly, our high-performance computing data center growth strategy.”

Over the previous year, Bitfarms’ stock ticker (BITF) has fallen by about 55 percent as miners work through profitability challenges following April’s Bitcoin halving and adjust to a shift toward high-performance computing and AI.

At the time of the announcement, Bitfarms shares were trading up roughly 15.48 percent, at $1.30, according to Yahoo Finance data. The firm’s market capitalization is now close to $729 million.

Bitfarms also spent months entangled in a takeover attempt by Riot Platforms, a contest that finally concluded in September.

Management noted that actual buyback activity depends on several factors, including how much cash the company needs for operations, overall market conditions, its share price, and any rules or limits imposed by regulators.

Gagnon added, “We strongly believe our unique and highly desirable energy portfolio in Pennsylvania will drive long-term, sustainable growth that is financeable and enables management to leverage its balance sheet strength to drive shareholder value with this buyback program …”

Strategy launches Bitcoin stock pegged at $100 to increase treasury

Strategy, the largest corporate owner of Bitcoin, has unveiled a new stock to boost its cash reserves for further crypto purchases. Michael Saylor’s firm plans to offer 5 million shares of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) in an initial public offering.

In its Monday announcement, Strategy said it will channel the proceeds into “general corporate purposes, including the acquisition of Bitcoin and for working capital.”

Unlike past issues, the STRC shares carry a variable dividend based on a $100 face value. The first regular dividend, paid monthly, will annualize to 9 percent.

This launch follows a $4.2 billion at-market share sale announced on July 7, where Strategy taps the market to raise equity for more Bitcoin purchases.

The new preferred stock will be sold via IPO to “select investors,” Saylor noted in an X post on Monday.

According to the filing, Strategy intends to “adjust the monthly regular dividend rate per annum in such manner as Strategy believes is designed to cause the STRC Stock to trade at prices at or close to its stated amount of $100 per share.”

Cryptopolitan Academy: Coming Soon – A New Way to Earn Passive Income with DeFi in 2025. Learn More

THUNDER BAY, ON / ACCESS Newswire / July 22, 2025 / Clean Air Metals Inc. (“Clean Air Metals” or the “Company“) (TSXV:AIR)(FRA:CKU)(OTCQB:CLRMF) is pleased to announce its upcoming 2025 summer drilling program aimed at testing the interpreted down-plunge extension of the Escape Deposit at its 100%-owned Thunder Bay North Critical Minerals Project (“TBN”). An initial 900-m hole, targeting one of three newly identified ‘ballroom-type’ coincident magnetic and conductivity anomalies, will commence this week. The program is designed to be scalable depending on results.

Escape Deposit Down-Plunge Extension Target

The Escape Deposit (“Escape”) is a key contributor to the Thunder Bay North (“TBN”) Project, representing approximately 40% of the total metal content of the estimated 14 million tonnes of indicated resources (NI 43-101 technical report on the Thunder Bay North Project, Ontario, Canada, SLR Consulting Canada Ltd, June 19, 2023) containing 2.4 million equivalent ounces of platinum.

The Escape down-plunge extension target (Figure 1) is believed to have the best potential for a major resource expansion within the Thunder Bay North project. The Company has been working on improving the target definition in this area since 2023, starting with the identification of a large untested magnetic anomaly that extends from the known Escape high-grade zone to a distance of 2.5 km (see August 29, 2023, News Release).

Figure 1. Airborne total magnetic intensity map with wireframes of Escape and Current conduits as determined from drilling. The Escape grid with seismic sensors is shown in white.

In the spring of 2025, the Company engaged an expert in Magnetotelluric (MT) geophysical surveys to reassess historical MT data for the extension target. The assessment identified three coincident magnetic and EM anomalies (Figure 2) that have strongly similar characteristics to the recently drill-confirmed high-grade ‘ballroom’ mineralization at the Current Deposit (see October 3, 2024 and April 15, 2025 News Releases). It also clearly identified the known mineralization at the Escape High-Grade zone, which provides additional confidence in these three targets.

Figure 2. Location of newly identified ‘ballroom-type’ coincident magnetic and conductivity anomalies within the modelled down-plunge extension of the Escape Deposit.

The initial drill hole and borehole EM survey is planned to test target BH 25-01 (Figure 3). This target coincides with the borehole EM anomalies identified from historical drill holes in this area. In addition, it lies ~300 metres to the east of the easternmost, drill-defined extent of the Escape Deposit that hosts the Escape High-Grade Zone. Highlights of the high-grade results disclosed in the October 29, 2020, News Release include:

• 96.0 m grading 1.63 g/t Pd, 1.22g/t Pt, 0.61% Cu and 0.34% Ni from 326.8 m downhole in hole ELR20-008, including 18.0 m of 3.20g/t Pd, 2.29g/t Pt, 1.17% Cu and 0.76% Ni from 391.8 m.

Figure 3. Traversal MT 2D sectionoutlining Target BH 25-01.

Clean Air Metals’ Vice President of Exploration, Lionnel Djon, commented. “The new geophysical assessments have delivered very appealing ‘ballroom-type’ drill targets in the Escape down-plunge extension area. We are excited to begin drill testing these targets that collectively represent the best opportunity for a significant expansion of the high-grade Thunder Bay North Pt-Pd-Cu-Ni sulphide mineralization.”

Update on Advancing the Thunder Bay North Project

The Company continues to work on a Preliminary Economic Assessment on the Thunder Bay North Project. This study is driven in part by the successful drilling programs in 2024 and early 2025, which expanded high-grade ballrooms at the Current Deposit, and provides confidence in the development of a robust, higher-grade production model that improves toll milling potential. The company has also increased activity on baseline environmental monitoring at the site, which will be critical to obtaining a permit for advanced exploration.

Mike Garbutt, CEO of Clean Air Metals, remarked, “The identification of geophysically-constrained drill-ready targets in the Escape down-plunge extension is an important breakthrough for the Company and gives us a tangible path forward to expanding the highest-grade components of the existing TBN global mineral resource. At a time that the broader market has realized the investment appeal of the PGEs, reflected in the recent appreciation in both platinum and palladium prices, we are excited to continue exploration for high-grade mineralization at Escape and to commence work on a new PEA study focusing on the higher-grade parts of both the Escape and Current deposits.”

Upcoming 2025 AGM

Clean Air Metals will hold its 2025 Annual General Meeting on July 29, 2025, at 1:30 p.m. EDT virtually at http://momentum.adobeconnect.com/cleanairagm2025/. Shareholders are encouraged to register their vote by Friday, July 25, 2025, at 1:30 p.m. EDT. The information circular, proxy forms and voting instructions can be found on the Company’s website at Annual General Meeting | Clean Air Metals Inc.

Qualified Person

Dr. Lionnel Djon, Ph.D., P.Geo., a Qualified Person under National Instrument 43-101 and Vice President of Exploration for the Company, has reviewed and approved all technical information in this press release.

About Clean Air Metals

Clean Air Metals is a development and exploration company advancing its flagship, 100% owned Thunder Bay North Critical Minerals (“TBN”) project, 40 km northeast of Thunder Bay, Ontario. The TBN project, accessible by road and next to established infrastructure, hosts two (2) deposits – the Current and Escape deposits, only 2.5 km apart. Together, the deposits host a 13.8 Mt indicated mineral resource containing 2.4M Pt eq. oz (Technical Report on the Thunder Bay North Project, Ontario, Canada, NI43-101, SLR Consulting Canada Ltd, June 19, 2023) with significant potential for expansion down-plunge.

One of the rare primary platinum resources outside of South Africa, the TBN project is in a stable and mining-friendly jurisdiction and benefits from longstanding relationships with local First Nations. With its proven technical team, Clean Air Metals is committed to growing the resources at the TBN project and creating long-term value for shareholders.

Social Engagement

Clean Air Metals Inc. acknowledges that the Thunder Bay North Critical Minerals Project is located within the area encompassed by the Robinson-Superior Treaty of 1850 and includes the territories of the Fort William First Nation, Red Rock Indian Band, Biinjitiwabik Zaaging Anishinabek and Kiashke Zaaging Anishinaabek. Clean Air Metals also acknowledges the contributions of the Métis Nation of Ontario, Region 2 and the Red Sky Métis Independent Nation to the rich history of our area. 

The Company appreciates the opportunity to work in these territories and remains committed to the recognition and respect of those who have lived, travelled, and gathered on the lands since time immemorial. Clean Air Metals is committed to stewarding Indigenous heritage and remains committed to building, fostering and encouraging a respectful relationship with First Nations, Métis and Inuit peoples based upon principles of mutual trust, respect, reciprocity and collaboration in the spirit of reconciliation.

ON BEHALF OF THE BOARD OF DIRECTORS

“Mike Garbutt“

Mike Garbutt, CEO of Clean Air Metals Inc.

Connect with us on X/ Facebook/ Instagram.

Visit www.cleanairmetals.ca for more information or contact:

Mia Boiridy
Director of Communications and Investor Relations
250-575-3305
[email protected]

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

Cautionary Note

The information contained herein contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or, future events or performance are not statements of historical fact and may be “forward-looking statements.” Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company’s prospects, properties and business detailed elsewhere in the Company’s disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof, and the Company does not assume any obligation to update or revise them to reflect new events or circumstances except in accordance with applicable securities laws. Actual events or results could differ materially from the Company’s expectations or projections.

SOURCE: Clean Air Metals, Inc.

View the original press release on ACCESS Newswire