Category: Canada

(MENAFN– PR Newswire)

Q1 2025 HIGHLIGHTS

Safety

Two lost-time injuries (“LTI”) and three total recordable injuries (inclusive of LTIs) (“TRI”) recorded.

12‐month rolling LTI and TRI frequency rates as of March 31, 2025 of 0.43 and 1.00 per million hours worked, respectively.

Mining

Mining activities focused on the Abore and Esaase deposits with 1.3 million tonnes (“Mt”) of ore mined at an average mined grade of 0.8 grams per tonne (“g/t”) gold and a strip ratio of 7.0:1.

Development of cut 3 at the Nkran deposit commenced ahead of schedule in February with 0.8 Mt of waste mined during the quarter.

Processing

The AGM processing plant was offline for a period of 14 days due to a key component of the Semi-Autogenous Grinding (“SAG”) mill requiring repairs, during which no gold was recovered. This shutdown reduced quarterly production by approximately 4,500 to 5,000 ounces. The repairs to the SAG mill were completed during Q1 2025.

1.1 Mt of ore was milled at an average feed grade of 0.8 g/t, with metallurgical recovery averaging 87%. Throughput remains constrained until a secondary crushing circuit is commissioned during Q3 2025.

Produced 20,734 ounces of gold.

Sold 26,994 ounces of gold at an average realized price of $2,833 per ounce (“/oz”).

Exploration

5,543 meters of infill drilling completed at the Abore deposit. Positive results led to discovery of a new high-grade zone immediately below the mineral reserve pit shell at the south end of the Abore Main pit. The infill drilling also increased confidence in the mineral reserve and mineral resource in the area in and around the known high-grade zone at the Abore South pit, while also increasing the strike length of this zone from 90m to 180m.

Cost and capital expenditures

Total cash costs¹ of $1,730/oz and all-in sustaining costs¹ (“AISC”) of $2,501/oz.

Sustaining capital expenditures of $1.3 million and development capital expenditures (excluding Nkran pre-stripping costs) of $3.3 million.

Capitalized development pre-stripping costs at Nkran cut 3 of $3.2 million.

Financial

Cash and cash equivalents of $106.4 million at March 31, 2025, and no debt.

Generated cash flow from operating activities of $25.9 million.

Income from mine operations of $15.4 million.

Net loss of $0.10 per common share and adjusted net income¹ of $0.01 per common share.

Adjusted EBITDA¹ of $19.0 million.

“Having completed the first quarter, our mining operations, including the commencement of stripping at Nkran, are ramping up according to plan. Production and costs realized in the first quarter are not reflective of management’s expectations for the balance of the year. Mill throughput and grade are planned to improve quarter on quarter and the secondary crusher commissioning remains on schedule,” said Matt Badylak, Galiano’s President and CEO. “Recent exploration results from Abore validate the high-grade zones within the existing Mineral Reserves and point to further expansion potential of the deposit at depth. Our team is focused on delivering a maiden underground resource at the AGM by year-end to build on our growth path as we look beyond our current life of mine.”

_____________

1 Refer to Non-IFRS Performance Measures

SUMMARY OF QUARTERLY OPERATIONAL AND FINANCIAL HIGHLIGHTS

	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024(2)
Health and safety
LTIs	2	1	–	–	–
12-month rolling LTI frequency rate	0.43	0.15	0.00	0.15	0.16
Mining
Ore mined (‘000t)	1,296	531	670	467	265
Waste mined (‘000t)	9,124	8,698	9,726	7,427	4,877
Strip ratio (W:O)	7.0	16.4	14.5	15.9	18.4
Average gold grade mined (g/t)	0.8	1.0	1.1	1.0	0.9
Mining cost ($/t mined)	3.36	3.41	3.52	2.98	3.63
Ore tonnes trucked (‘000 t)	1,053	685	665	503	566
Ore transportation cost ($/t trucked)	4.43	4.75	4.56	5.71	6.79
Processing
Ore milled (‘000t)	1,086	1,179	1,162	1,336	1,467
Average mill head grade (g/t)	0.8	0.9	0.9	0.7	0.8
Average recovery rate (%)	87	85	91	82	83
Processing cost ($/t milled)	14.37	15.84	12.49	11.18	10.55
G&A cost ($/t milled)	5.78	6.28	5.74	5.13	4.74
Gold produced (oz)	20,734	28,508	29,784	26,437	30,386
Capital expenditures
Sustaining capital ($m)	1.3	0.8	0.8	0.6	3.9
Development capital ($m)	3.3	2.0	4.0	2.3	2.0
Nkran cut 3 waste stripping ($m)	3.2	–	–	–	–
Financial, costs and cash flow
Revenue ($m)(3)	76.6	64.6	71.1	64.0	31.7
Gold sold (oz)(3)	26,994	24,673	29,014	27,830	14,912
Average realized gold price ($/oz)(3)	2,833	2,609	2,446	2,292	2,125
AISC ($/oz sold)(1)	2,501	2,638	2,161	1,759	1,793
Income from mine operations ($m)	15.4	21.8	26.4	25.1	6.2
Cash flow from operating activities ($m)	25.9	13.8	24.4	4.5	13.0
Free cash flow ($m)(1)	0.7	(3.1)	(1.6)	(9.7)	75.7
Adjusted net income ($m)(1)	3.4	5.1	17.7	7.3	6.5

(1) Refer to Non-IFRS Performance Measures.

(2) Health and safety, mining, processing, capital expenditures and AISC1 information for Q1 2024 are presented on a 100% basis for the AGM.

(3) The Company acquired Gold Fields Limited’s 45% equity interest in the AGM on March 4, 2024, thereby increasing the Company’s equity interest to 90% as of this date. The Company therefore consolidated the financial results of the AGM commencing on March 4, 2024. Prior to this date, the Company accounted for its previous 45% equity interest in the AGM by applying the equity method of accounting.

Mining

Development of the Abore pit continued during Q1 2025 with mined ore totaling 0.7 Mt, an increase of 32% from Q4 2024, at an average grade of 0.9 g/t. The strip ratio at Abore amounted to 7.5:1, a decrease of 54% from Q4 2024.

Recommenced mining operations at the Esaase deposit during Q1 2025 with mined ore totaling 0.6 Mt at an average grade of 0.8 g/t and a strip ratio of 5.1:1.

Commenced waste stripping of cut 3 at the Nkran deposit ahead of schedule in February 2025 with 0.8 Mt of waste rock was mined during Q1 2025. The mining contractor is expected to mobilize the majority of its fleet of mining equipment over 2025, which will result in higher volumes mined in 2026.

Mining cost per tonne at Abore and Esaase for Q1 2025 amounted to $3.31 per tonne (“/t”) compared to $3.63/t in Q1 2024. The decrease in mining unit rates was due to an 87% increase in total tonnes mined, which reduced fixed mining costs on a per unit basis. At Nkran, mining cost per tonne was $3.98 for Q1 2025, which included initial site establishment costs. Nkran waste stripping and site establishment costs were capitalized as development capital expenditures.

Processing

Gold production during Q1 2025 was impacted by a 14-day shutdown of the processing plant to repair a key component of the SAG mill, during which no gold was recovered. The plant shutdown is estimated to have resulted in lower gold production by approximately 4,500 to 5,000 ounces for the quarter. The repairs to the SAG mill were completed during Q1 2025.

The AGM produced 20,734 ounces of gold during Q1 2025, as the processing plant milled 1.1 Mt of ore at an average grade of 0.8 g/t with metallurgical recovery averaging 87%. While Q1 2025 gold production was lower than management’s expectations, the Company forecasts annual production will be near the lower end of the guidance range.

Gold production during Q1 2025 was impacted by lower milling rates, as mined and processed ore from Abore, which is harder and requires additional crushing and grinding, contributed to the reduction in mill throughput and gold production in Q1 2025 compared to Q1 2024.

The construction of a permanent secondary crushing circuit at the AGM processing plant remains ongoing. The objective of the secondary crushing circuit is to maintain plant throughput at design capacity when treating harder ore. This project is expected to be completed in Q3 2025.

Processing cost per tonne for Q1 2025 was $14.37, a 36% increase from Q1 2024. On an absolute basis, processing costs were consistent quarter-on-quarter. The increase in processing cost per tonne in Q1 2025 was driven by fewer tonnes milled, which increased fixed processing costs on a per unit basis.

Capital Expenditures

Development capital expenditures (excluding Nkran pre-stripping costs) during Q1 2025 totaled $3.3 million and related primarily to construction of the secondary crushing circuit.

$3.2 million in development pre-stripping costs were incurred at the Nkran deposit related to cut 3 waste removal and initial site establishment costs.

Costs

AISC¹ for Q1 2025 was $2,501/oz, compared to $1,793/oz in the comparative period. The increase in AlSC¹ was primarily driven by 15% lower gold sales volumes in Q1 2025. Also, during Q1 2024, low grade stockpiled ore was processed that had no accounting book value and, as such, had no mining cost attributed to it, which resulted in lower operating costs in the comparative quarter.

Relative to Q4 2024, AISC¹ decreased by 5% during the current quarter due to higher gold sales volumes in Q1 2025.

The Company expects AISC¹ for FY 2025 to come in at the higher end of the guidance range given the impact of the mill shutdown in Q1 2025 on estimated annual gold production. Additionally, the effect of higher royalties, resulting from higher realized gold prices and an increase in the Growth and Sustainability Levy, is estimated to impact FY 2025 AISC¹ by approximately a further $55/oz (at the current spot gold price).

CONSOLIDATED FINANCIAL HIGHLIGHTS FOR THE THREE MONTHS ENDED MARCH 31, 2025 AND 2024

	Three months ended March 31,
(All amounts in 000’s of US dollars, unless otherwise stated)	2025	2024
Revenue	76,590	31,695
Income from mine operations	15,360	6,197
Net loss attributable to common shareholders	(26,806)	(3,208)
Net loss per share attributable to common shareholders	(0.10)	(0.01)
Adjusted net income attributable to common shareholders1	3,410	6,493
Adjusted net income per share attributable to common shareholders1	0.01	0.03
Adjusted EBITDA1	19,025	5,072
Cash and cash equivalents	106,381	130,804
Cash generated from operating activities	25,892	13,028

The Company sold 26,994 ounces of gold in Q1 2025 at an average realized gold price of $2,833/oz for total revenue of $76.6 million. The increase in revenue from the comparative period was due to an 81% increase in gold ounces sold and a 33% increase in realized prices. Gold ounces sold in Q1 2025 were higher than Q1 2024 as the Company only consolidated the financial results of the AGM from March 4, 2024 to March 31, 2024 in the comparative period.

Income from mine operations for Q1 2025 totaled $15.4 million, compared to $6.2 million in Q1 2024. The increase in mine operating income in Q1 2025 was due to consolidating the financial results of the AGM for a full quarter.

The Company reported a net loss attributable to common shareholders of $26.8 million in Q1 2025, compared to a net loss of $3.2 million in Q1 2024. The increase in net loss during Q1 2025 was due to a $26.1 million increase in unrealized losses on the AGM’s zero cost gold collar (“ZCC”) hedges and a $4.7 million increase in realized losses on ZCC gold hedges.

Reported Adjusted EBITDA¹ of $19.0 million in Q1 2025, compared to $5.1 million in Q1 2024. The increase in Adjusted EBITDA¹ was primarily due to consolidating the financial results of the AGM for a full quarter.

The Company generated $25.9 million of cash flow from operating activities in Q1 2025, compared to $13.0 million in Q1 2024. The increase in cash flow from operating activities was driven by consolidating the cash flows of the AGM for a full quarter.

As of March 31, 2025, the Company had cash and cash equivalents of $106.4 million and no debt.

This news release should be read in conjunction with Galiano’s Management’s Discussion and Analysis and the Unaudited Condensed Consolidated Interim Financial Statements for the three months ended March 31, 2025 and 2024, which are available at and filed on SEDAR+.

¹ Non-IFRS Performance Measures

The Company has included certain non-IFRS performance measures in this news release. These non-IFRS performance measures do not have any standardized meaning and therefore may not be comparable to similar measures presented by other issuers. Accordingly, these performance measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Refer to the Non-IFRS Measures section of Galiano’s Management’s Discussion and Analysis for an explanation of these measures and reconciliations to the Company’s reported financial results in accordance with IFRS.

Total Cash Costs per Gold Ounce Sold

Management of the Company uses total cash costs per gold ounce sold to monitor the operating performance of the AGM. Total cash costs include the cost of production, adjusted for by-product revenue and production royalties per ounce of gold sold.

AISC per Gold Ounce Sold

The Company has adopted the reporting of “AISC per gold ounce sold”. AISC include total cash costs, AGM general and administrative expenses, sustaining capital expenditure, sustaining capitalized stripping costs, reclamation cost accretion and lease payments made to and interest expense on the AGM’s mining and service lease agreements per ounce of gold sold.

EBITDA and Adjusted EBITDA

Earnings before interest, taxes, depreciation and amortization (“EBITDA”) provides an indication of the Company’s continuing capacity to generate income from operations before taking into account the Company’s financing decisions and costs of amortizing capital assets. Accordingly, EBITDA comprises net income (loss) excluding finance expense, finance income, depreciation and depletion expense, and income taxes. Adjusted EBITDA adjusts EBITDA to exclude non-recurring items and non-cash items (“Adjusted EBITDA”) and includes the calculated Adjusted EBITDA of the AGM joint venture for periods prior to the consolidation of its ownership. Adjusted EBITDA also adds back the Government of Ghana’s 10% share of the AGM’s net earnings (loss) as dividends will only be paid to shareholders of the AGM once the entity has positive retained earnings.

Free cash flow

The Company believes that in addition to conventional measures prepared in accordance with IFRS, management and certain investors and analysts use free cash flow to evaluate the Company’s performance with respect to its operating cash flow capacity to meet non-discretionary outflows of cash. The presentation of free cash flow is not meant to be a substitute for the cash flow information presented in accordance with IFRS, but rather should be evaluated in conjunction with such IFRS measures. Free cash flow is calculated as cash flow from operating activities, excluding one-time charges not indicative of current period cash flow performance, less cash flows used in investing activities and payments made to mining and service contractors for leases capitalized under IFRS 16.

Adjusted net income (loss) and adjusted net income (loss) per common share

The Company has included the non-IFRS performance measures of adjusted net income (loss) and adjusted net income (loss) per common share. Neither adjusted net income (loss) nor adjusted net income (loss) per share have any standardized meaning and are therefore unlikely to be comparable to other measures presented by other issuers. Adjusted net income (loss) excludes certain non-cash items or non-recurring items from net income (loss) to provide a measure which helps the Company and investors to evaluate the results of the underlying core operations of the Company and its ability to generate cash flows and is an important indicator of the strength of the Company’s operations and performance of its core business.

Qualified Person

The exploration information contained in this news release has been reviewed and approved by Mr. Chris Pettman, P.Geo, Vice President Exploration of Galiano. All other scientific and technical information contained in this news release has been reviewed and approved by Mr. Richard Miller, P.Eng., Vice President Technical Services of Galiano. Mr. Pettman and Mr. Miller are “Qualified Persons” as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Galiano Gold Inc.

Galiano is focused on creating a sustainable business capable of value creation for all stakeholders through production, exploration and disciplined deployment of its financial resources. The Company owns the Asanko Gold Mine, which is located in Ghana, West Africa. Galiano is committed to the highest standards for environmental management, social responsibility, and the health and safety of its employees and neighbouring communities. For more information, please visit .

Cautionary Note Regarding Forward-Looking Statements

Certain statements and information contained in this news release constitute “forward-looking statements” within the meaning of applicable U.S. securities laws and “forward-looking information” within the meaning of applicable Canadian securities laws, which we refer to collectively as “forward-looking statements”. Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future conditions and courses of action. All statements and information other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as “seek”, “expect”, “anticipate”, “budget”, “plan”, “estimate”, “continue”, “forecast”, “intend”, “believe”, “predict”, “potential”, “target”, “may”, “could”, “would”, “might”, “will” and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook.

Forward-looking statements in this news release include, but are not limited to: statements regarding the Company’s operating plans for the AGM and timing thereof; expectations and timing with respect to current and planned drilling programs, including at Abore, and the results thereof; anticipated production and cost guidance, including the expected impact of the SAG mill shutdown on gold production; timing of installation of a permanent secondary crushing circuit; expectations regarding cash flows from operations; any additional work programs to be undertaken by the Company; potential exploration opportunities and statements regarding the usefulness and comparability of certain non-IFRS measures; and total cash costs and corresponding cost performance relating to the Company’s activities. Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited to: development plans and capital expenditures; the price of gold will not decline significantly or for a protracted period of time; the accuracy of the estimates and assumptions underlying mineral reserve and mineral resource estimates; the Company’s ability to raise sufficient funds from future equity financings to support its operations, and general business and economic conditions; the global financial markets and general economic conditions will be stable and prosperous in the future; the AGM will not experience any significant uninsured production disruptions that would materially affect revenues; the ability of the Company to comply with applicable governmental regulations and standards; the mining laws, tax laws and other laws in Ghana applicable to the AGM will not change, and there will be no imposition of additional exchange controls in Ghana; the success of the Company in implementing its development strategies and achieving its business objectives; the Company will have sufficient working capital necessary to sustain its operations on an ongoing basis and the Company will continue to have sufficient working capital to fund its operations; and the key personnel of the Company will continue their employment.

The foregoing list of assumptions cannot be considered exhaustive.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those anticipated in such forward-looking statements. The Company believes the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and you are cautioned not to place undue reliance on forward-looking statements contained herein. Some of the risks and other factors which could cause actual results to differ materially from those expressed in the forward-looking statements contained in this news release, include, but are not limited to: the mineral reserve and mineral resource estimates may change and may prove to be inaccurate; metallurgical recoveries may not be economically viable; life of mine estimates are based on a number of factors and assumptions and may prove to be incorrect; actual production, costs, returns and other economic and financial performance may vary from the Company’s estimates in response to a variety of factors, many of which are not within the Company’s control; inflationary pressures and the effects thereof; the AGM has a limited operating history and is subject to risks associated with establishing new mining operations; sustained increases in costs, or decreases in the availability, of commodities consumed or otherwise used by the Company may adversely affect the Company; adverse geotechnical and geological conditions (including geotechnical failures) may result in operating delays and lower throughput or recovery, closures or damage to mine infrastructure; the ability of the Company to treat the number of tonnes planned, recover valuable materials, remove deleterious materials and process ore, concentrate and tailings as planned is dependent on a number of factors and assumptions which may not be present or occur as expected; the Company’s mineral properties may experience a loss of ore, and the Company may experience lack of access to its mineral properties and other issues, due to illegal mining activities; the Company’s operations may encounter delays in or losses of production due to equipment delays or the availability of equipment; outbreaks of COVID-19 and other infectious diseases may have a negative impact on global financial conditions, demand for commodities and supply chains and could adversely affect the Company’s business, financial condition and results of operations and the market price of the common shares of the Company; the Company’s operations are subject to continuously evolving legislation, compliance with which may be difficult, uneconomic or require significant expenditures; the Company may be unsuccessful in attracting and retaining key personnel; labour disruptions could adversely affect the Company’s operations; recoveries may be lower in the future and have a negative impact on the Company’s financial results; the lower recoveries may persist and be detrimental to the AGM and the Company; the Company’s business is subject to risks associated with operating in a foreign country; risks related to the Company’s use of contractors; the hazards and risks normally encountered in the exploration, development and production of gold; the Company’s operations are subject to environmental hazards and compliance with applicable environmental laws and regulations; the effects of climate change or extreme weather events may cause prolonged disruption to the delivery of essential commodities which could negatively affect production efficiency; the Company’s operations and workforce are exposed to health and safety risks; unexpected costs and delays related to, or the failure of the Company to obtain, necessary permits could impede the Company’s operations; the Company’s title to exploration, development and mining interests can be uncertain and may be contested; geotechnical risks associated with the design and operation of a mine and related civil structures; the Company’s properties may be subject to claims by various community stakeholders; current, ongoing and future legal disputes and appeals from third parties may be successful, and the Company may be required to pay settlement costs or damages; risks related to limited access to infrastructure and water; risks associated with establishing new mining operations; the Company’s revenues are dependent on the market prices for gold, which have experienced significant recent fluctuations; the Company may not be able to secure additional financing when needed or on acceptable terms; the Company’s shareholders may be subject to future dilution; risks related to changes in interest rates and foreign currency exchange rates; risks relating to credit rating downgrades; changes to taxation laws applicable to the Company may affect the Company’s profitability and ability to repatriate funds; risks related to the Company’s internal controls over financial reporting and compliance with applicable accounting regulations and securities laws; risks related to information systems security threats; non-compliance with public disclosure obligations could have an adverse effect on the Company’s stock price; the carrying value of the Company’s assets may change and these assets may be subject to impairment charges; risks associated with changes in reporting standards; the Company may be liable for uninsured or partially insured losses; the Company may be subject to litigation; damage to the Company’s reputation could result in decreased investor confidence and increased challenges in developing and maintaining community relations which may have adverse effects on the business, results of operations and financial conditions of the Company and the Company’s share price; the Company may be unsuccessful in identifying targets for acquisition or completing suitable corporate transactions, and any such transactions may not be beneficial to the Company or its shareholders; the Company must compete with other mining companies and individuals for mining interests; the Company’s growth, future profitability and ability to obtain financing may be impacted by global financial conditions; the Company’s common shares may experience price and trading volume volatility; the Company has never paid dividends and does not expect to do so in the foreseeable future; the Company’s shareholders may be unable to sell significant quantities of the Company’s common shares into the public trading markets without a significant reduction in the price of its common shares, or at all; and the risk factors described under the heading “Risk Factors” in the Company’s Annual Information Form.

Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in the forward-looking statements, you are cautioned that this list is not exhaustive and there may be other factors that the Company has not identified. Furthermore, the Company undertakes no obligation to update or revise any forward-looking statements included in, or incorporated by reference in, this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this news release.

SOURCE Galiano Gold Inc.

MENAFN14052025003732001241ID1109550728

This section is

Partnership Content supplied

by Newsfile

Author of the article:

Published May 14, 2025  •  4 minute read

Article content

Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, Alpha-X & Alpha DRK and Montréal Exchange

Toronto, Ontario–(Newsfile Corp. – May 14, 2025) – TMX Group Limited today announced April 2025 trading statistics for its marketplaces – Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange (Alpha), including Alpha-X & Alpha DRK, and Montréal Exchange (MX).

All TMX Equities Marketplaces *

	April 2025	March 2025	April 2024
Volume	13,838,374,427	13,623,800,765	12,231,352,182
Value	$358,443,005,733	$356,110,250,169	$257,319,670,410
Transactions	30,498,094	27,624,784	22,830,318
Daily Averages
Volume	659.0 million	648.8 million	556.0 million
Value	$17,068.7 million	$16,957.6 million	$11,696.3 million
Transactions	1,452,290	1,315,466	1,037,742

Article content

Year-to-date Statistics

	2025	2024	% Change
Volume	50,711,808,173	43,433,618,334	+16.8
Value	$1,291,574,577,662	$954,966,612,786	+35.2
Transactions	104,488,996	82,456,560	+26.7
Daily Averages
Volume	611.0 million	517.1 million	+18.2
Value	$15,561.1 million	$11,368.7 million	+36.9
Transactions	1,258,904	981,626	+28.2

Toronto Stock Exchange

	April 2025	March 2025	April 2024
Volume	9,398,647,240	9,367,425,348	7,724,056,536
Value	$327,365,584,100	$330,702,736,554	$239,984,611,714
Transactions	26,896,259	24,388,132	20,256,810
S&P/TSX Composite Index Close ^	24,841.68	24,917.50	21,714.54
Daily Averages
Volume	447.6 million	446.1 million	351.1 million
Value	$15,588.8 million	$15,747.7 million	$10,908.4 million
Transactions	1,280,774	1,161,340	920,764

Article content

Article content

Year-to-date Statistics

	2025	2024	% Change
Volume	33,509,248,531	28,173,273,754	+18.9
Value	$1,188,904,727,784	$890,150,847,265	+33.6
Transactions	91,766,848	72,746,821	+26.2
Daily Averages
Volume	403.7 million	335.4 million	+20.4
Value	$14,324.2 million	$10,597.0 million	+35.2
Transactions	1,105,625	866,034	+27.7

TSX Venture Exchange*

	April 2025	March 2025	April 2024
Volume	2,924,005,711	2,915,858,953	3,308,626,858
Value	$1,477,800,425	$1,454,184,782	$1,249,951,249
Transactions	781,959	770,864	777,275
S&P/TSX Venture Composite Index Close ^	653.62	628.30	579.52
Daily Averages
Volume	139.2 million	138.9 million	150.4 million
Value	$70.4 million	$69.2 million	$56.8 million
Transactions	37,236	36,708	35,331

Article content

Year-to-date Statistics

	2025	2024	% Change
Volume	11,888,574,336	10,987,223,122	+8.2
Value	$5,957,345,955	$4,465,089,450	+33.4
Transactions	3,137,179	2,679,796	+17.1
Daily Averages
Volume	143.2 million	130.8 million	+9.5
Value	$71.8 million	$53.2 million	+35.0
Transactions	37,797	31,902	+18.5

TSX Alpha Exchange

	April 2025	March 2025	April 2024
Volume	1,488,486,238	1,310,450,908	1,191,910,844
Value	$29,034,792,743	$23,366,698,633	$15,857,192,434
Transactions	2,750,519	2,398,676	1,768,608
Daily Averages
Volume	70.9 million	62.4 million	54.2 million
Value	$1,382.6 million	$1,112.7 million	$720.8 million
Transactions	130,977	114,223	80,391

Year-to-date Statistics

	2025	2024	% Change
Volume	5,206,199,724	4,258,387,778	+22.3
Value	$94,222,695,221	$59,880,898,806	+57.4
Transactions	9,321,078	6,959,488	+33.9
Daily Averages
Volume	62.7 million	50.7 million	+23.7
Value	$1,135.2 million	$712.9 million	+59.2
Transactions	112,302	82,851	+35.5

Article content

Alpha-X and Alpha DRK**

	April 2025	March 2025	April 2024
Volume	27,235,238	30,065,556	6,757,944
Value	$564,828,465	$586,630,200	$227,915,013
Transactions	69,357	67,112	27,625
Daily Averages
Volume	1.3 million	1.4 million	0.3 million
Value	$26.9 million	$27.9 million	$10.4 million
Transactions	3,303	3,196	1,256

Year-to-date Statistics

	2025	2024	% Change
Volume	107,785,582	14,733,680	+631.6
Value	$2,489,808,702	$469,777,265	+430.0
Transactions	263,891	70,455	+274.6
Daily Averages
Volume	1.3 million	0.2 million	+640.4
Value	$30.0 million	$5.6 million	+436.4
Transactions	3,179	839	+279.1

Montreal Exchange

	April 2025	March 2025	April 2024
Derivatives Volume (Contracts)	20,356,859	22,703,026	15,945,637
Open Interest (Contracts)	26,753,007	26,398,774	16,795,674

Article content

Year-to-date Statistics

	2025	2024	% Change
Volume (Contracts)	82,124,702	59,716,595	+37.5
Open Interest (Contracts)	26,753,007	16,795,674	+59.3

*Includes NEX
**Trading on Alpha-X and Alpha DRK commenced on November 6, 2023.

The information contained in this media release is provided for informational purposes only and is not intended to provide investment, trading, financial or other advice. All figures are as of April 30, 2025. Because certain trades do not settle on the trade date, figures may be subject to change until all March trades are finalized. Comparative data has been updated to reflect known trade corrections.

^The S&P/TSX Indices are products of S&P Dow Jones Indices LLC (“SPDJI”) and TSX Inc. (“TSX”). Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and TSX® is a registered trademark of TSX. SPDJI, Dow Jones, S&P and TSX do not sponsor, endorse, sell or promote any products based on the Indices and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions or interruptions of the Indices or any data related thereto.

Article content

About TMX Group (TSX: X)

TMX Group operates global markets, and builds digital communities and analytic solutions that facilitate the funding, growth and success of businesses, traders and investors. TMX Group’s key operations include Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, The Canadian Depository for Securities, Montréal Exchange, Canadian Derivatives Clearing Corporation, TSX Trust, TMX Trayport, TMX Datalinx and TMX VettaFi, which provide listing markets, trading markets, clearing facilities, depository services, technology solutions, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across North America (Montréal, Calgary, Vancouver and New York), as well as in key international markets including London, Singapore and Vienna. For more information about TMX Group, visit www.tmx.com. Follow TMX Group on X: @TMXGroup.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/252108

Article content

Share this article in your social network

(MENAFN– GlobeNewsWire – Nasdaq)

TORONTO, May 14, 2025 (GLOBE NEWSWIRE) — Bitget Wallet , the leading non-custodial Web3 wallet, will take the spotlight as a Platinum Sponsor at the Blockchain Futurist Conference, North America’s flagship crypto and blockchain event, taking place on 13 May 2025. With a full lineup of programming and community activations, Bitget Wallet’s presence signals continued investment in ecosystem development, real-world utility, and inclusive Web3 innovation.

The event marks Bitget Wallet’s latest move in strengthening its North American footprint, bringing its growing product suite and ecosystem to one of the most influential stages in the industry. At 11:00 AM, Bitget COO Vugar Usi Zade took the stage for a featured session titled “Striking the Balance: UX vs Security in Crypto Exchanges”, where he will address one of the most critical challenges in crypto platform design.

“Our goal is to make Web3 accessible and practical for everyday users,” said Alvin Kan, COO of Bitget Wallet . “Being part of this year’s conference is not just about visibility, but about connecting with builders and users shaping the future of crypto. Whether it’s through on-chain tools, ecosystem support, or real-world use cases. Bitget Wallet is committed to delivering real utility across the crypto experience.” The appearance follows the launch of “Shop with Crypto,” a new in-app marketplace that enables users to spend cryptocurrencies directly on goods and services within the wallet, including gaming, travel, gift cards and more.

As part of its broader commitment to community-led change, Bitget Wallet’s global initiative Blockchain4Her also sponsored the ETHWomen Happy Hour, happening from 12:00 PM to 2:00 PM at the ETHWomen Stage & Gallery Room during the conference. Designed to foster authentic conversations and connections, the event offers a welcoming space for women in Web3 to network, share experiences, and build meaningful relationships. Attendees will receive limited-edition Blockchain4Her pins as part of a special charity activation – with Bitget Wallet donating $10 to a local women’s charity for every pin worn.

Later that evening, Bitget Wallet hosted Bitget Mixer Night at the iconic Old Toronto Stock Exchange, one of the most anticipated side events of the crypto week. Set in a venue where traditional finance meets decentralized innovation, the exclusive mixer will bring together top minds in crypto for an evening of cocktails, canapés, and conversation. Guests will get a closer look at the latest developments from Bitget Wallet while enjoying a high-energy environment designed for discovery and networking.

From the main stage to intimate side events, Bitget Wallet’s participation reflects a growing focus on community impact, utility-driven innovation, and inclusive growth across the Web3 ecosystem.

About Bitget Wallet

Bitget Wallet is a non-custodial crypto wallet designed to make crypto simple, seamless and secure for everyone. With over 60 million users, it brings together a full suite of crypto services, including swaps, market insights, staking, rewards, a DApp browser, and crypto payment solutions. Supporting 130+ blockchains, 20,000+ DApps, and a million tokens, Bitget Wallet enables seamless multi-chain trading across hundreds of DEXs and cross-chain bridges. Backed by a $300+ million user protection fund, it ensures the highest level of security for users’ assets.

For more information, visit: X | Telegram | Instagram | YouTube | LinkedIn | TikTok | Discord | Facebook

For media inquiries, please contact …

A photo accompanying this announcement is available at

MENAFN14052025004107003653ID1109548904

Trusted News Since 1995

A service for global professionals
·
Wednesday, May 14, 2025

·
812,680,277
Articles


·
3+ Million Readers

In a significant move that’s reshaping the cryptocurrency landscape, retail trading giant Robinhood Markets Inc. has announced the acquisition of Canadian crypto firm WonderFi Technologies for approximately $179 million in an all-cash transaction. The deal, which values WonderFi at CA$0.36 per share—a 41% premium over its closing price before the announcement—marks Robinhood’s strategic expansion into the Canadian market.

Strategic Expansion and Market Response

The acquisition has been met with enthusiasm from investors, with Robinhood shares climbing 6.4% to around $61 following the announcement, while WonderFi’s stock on the Toronto Stock Exchange jumped 34% to C$0.24. This positive market response underscores the growing interest in cross-border cryptocurrency consolidation.

Kevin O’Leary, Chairman of O’Leary Ventures and a prominent early investor in WonderFi, expressed excitement about the acquisition during a recent interview, emphasizing the inevitable consolidation in the crypto industry as regulations continue to evolve.

“It’s inevitable as regulators continue to define the crypto industry that scale matters,” O’Leary stated. “This deal is unique. I’ve had a premise in terms of investing in crypto for quite a few years now that not only do you want to own the tokens—Bitcoin, Ethereum, etc.—but you should also own the infrastructure.”

Cross-Border Trading Transformation

O’Leary highlighted one of the most significant advantages of this acquisition: the potential transformation of cross-border trading between the United States and Canada. He pointed out that current foreign exchange services are outdated and expensive, creating pain points for businesses that operate in both countries.

“My biggest pain point is with FX currency when I have to transfer USD or Canadian back and forth. It’s brutal. The wire and Fed wire services are 60 years old, they’re so archaic and they’re really expensive and slow,” O’Leary explained. “But if I had an account at Robin Hood Canada and one in Robin Hood US, I’ll just transfer USDC in one second at practically no cost.”

This capability could disrupt the multi-trillion-dollar foreign exchange market, potentially challenging traditional banking systems. O’Leary suggests banks should take notice of Robinhood’s move, especially with the anticipated approval of stablecoin regulations.

Integration and Product Vision

The acquisition includes WonderFi’s Bitbuy and Coinsquare platforms, furthering Robinhood’s mission to make cryptocurrency accessible to more users. Dean Skurka, WonderFi’s President and CEO, emphasized the alignment between the two companies.

“WonderFi and Robinhood are united in our visions of making crypto accessible and bringing more people into the crypto space. We’re delighted to be joining the Robinhood team and to super-charge our product offerings for customers,” Skurka said.

Johann Kerbrat, SVP and GM of Robinhood Crypto, echoed this sentiment, stating, “WonderFi has built a formidable family of brands serving beginner and advanced crypto users alike, making them an ideal partner to accelerate Robinhood’s mission in Canada.”

Regulatory Outlook

The deal comes at a time when cryptocurrency regulations are evolving. O’Leary expressed optimism about the future of stablecoin legislation, referring to the “genius act” or stablecoin bill currently under consideration. He believes this legislation will be crucial in establishing the US dollar as the world’s digital payment system.

“It finally defines the US dollar as the world’s payment system, and that’s important because most commodities around the world, whether it be oil or gold, are priced in US dollars,” O’Leary explained.

The acquisition, subject to regulatory approval, is expected to close by mid-2025, with WonderFi planning to continue operations on its products after the closure. This move not only strengthens Robinhood’s position in the cryptocurrency market but also signals a potential shift in how cross-border financial transactions might be conducted in the future.

Canada’s main stock index fell on Wednesday, after six straight sessions of gains, as investors took a breather while awaiting signals from ongoing trade developments.

The Toronto Stock Exchange’s S&P/TSX composite index was down 0.13% at 25,583.02 points after rising 2.6% in the past six sessions and hitting a three-month high last week.

Markets have been rising on trade optimism after a limited U.S.-UK agreement and the United States and China pausing their fierce tariff dispute assuaged fears about a global economic slowdown.

A 90-day tariff pause announced by the U.S. on April 9 for countries other than China, along with solid earnings reports and a cooler-than-expected U.S. inflation reading, helped the index regain ground from early April lows.

“I think all the markets are taking a little bit of a breather now after the recent rallies”, said Michael Sprung, president at Sprung Investment Management.

“The inflation reading and the U.S.-China situation buoyed the market in the immediate past but … expectations of what is likely to happen are becoming more and more uncertain. And so I think the markets going to be looking for some direction”.

TSX gains on US-China tariff agreement

Federal Reserve Vice Chair Philip Jefferson noted that recent inflation data indicate progress toward the Fed’s 2% target, yet the outlook remains uncertain as potential new import taxes could elevate prices.

On TSX, mining stock fell 1.9%, tracking lower gold prices, as easing U.S.-China tensions dimmed bullion’s safe-haven appeal.

Energy subindex slipped 0.6% after oil prices fell as traders eyed a potential jump in U.S. crude inventories, while OPEC lowered its oil supply growth forecast for producers outside OPEC+.

(MENAFN– GlobeNewsWire – Nasdaq) VANCOUVER, British Columbia, May 14, 2025 (GLOBE NEWSWIRE) — Coppernico Metals Inc. (TSX: COPR, OTCQB: CPPMF) (“Coppernico” or the“Company”), is pleased to report the remaining assay results from its Phase 1 drill program at its Sombrero Project in Peru. The program, conducted through its wholly owned Peruvian subsidiary, Sombrero Minerales SAC, included 8,232.9 metres (“m”) of diamond drilling over 20 holes designed to test large-scale geophysical and geochemical anomalies within the Ccascabamba target area. The results confirm broad intervals of copper-gold mineralization supporting the technical team’s skarn-porphyry geological model and reinforcing the district-scale potential of the Sombrero Project. Drilling is now temporarily paused as the Company pursues expanded permits for access to priority targets.

Phase 1 Drill Program Highlights:

Large System: Drilling to date has not yet defined the limits of the skarn system, with mineralization and alteration vectoring high-priority opportunities well beyond the currently permitted area. Surface mapping, geophysical data and historical drilling suggest continuity and highlights the potential for the discovery of major extensions in future phases.

Notable Intercepts from Drill Holes 6-20:

25SOM-013 – 9.85 m @ 0.26% copper (“Cu”) and 0.46 g/t gold (“Au”)

25SOM-016 – 9.40 m @ 0.19% Cu

25SOM-017 – 18.10 m @ 0.18% Cu and 0.7 g/t Au

25SOM-018 – 21.85 m @ 0.22% Cu

24SOM-007 – 9.15 m @ 0.21% Cu

Intrusive Igneous Rock Architecture: Drilling to date has defined a complex network of causative intrusions, particularly around the Hojota area, where much of the Phase 1 drill program was focused.

Zonation and Controls: Mineralization appears to be controlled by an interplay of factors including proximity to causative intrusions, favorable host lithologies and zones of impermeability and structural complexity, including intersecting fault sets.

Robust Skarn Alteration: Alteration zones exceeding 300 meters in width have been defined, characterized by multiple skarn-forming events and broad breccia zones.

High-Priority Targets Beyond Current Permits: Several compelling targets lie outside the currently permitted drill polygon, where the data is pointing to even more prospective zones for future drilling.

Geological and geochemical results from the Phase 1 drill program (Table 1) demonstrate continuity of copper-gold mineralization across broad intervals and multiple zones. Prospective contact zones between intrusive rocks and limestone, highlighted by magnetic data (Figure 1), indicate strong exploration potential beyond the current drill permitted area (particularly at Chumpi and at Fierrazo, where historical drill holes show strong potential) which supports the decision to advance an expanded permit application that is actively progressing. Within the existing drill permit (notably at Hojota and Corrales), the intrusion–limestone contact zone has been only partly tested with widely spaced holes, these areas will remain targets for future drill phases.

Additionally, regional exploration programs are underway, designed to optimize the Company’s land position and advance a growing pipeline of high-impact exploration targets across the broader Sombrero Project. Further updates on this work are expected to be announced in the coming months as additional data becomes available.

Figure 1: Plan map of Phase 1 drilling at the Ccascabamba target area showing drill hole locations. Magnetics highlight prospective intrusion-limestone contacts, guiding follow-up at Fierrazo, Chumpi, Hojota and Corrales, pending data interpretation.

Ivan Bebek, Chair and CEO of Coppernico, stated, “As we deepen our understanding of the Sombrero system, our confidence in the size and potential of the broader district continues to grow. These early drill results confirm our belief that we are only beginning to unlock the value of this largely underexplored, yet highly promising, land package. Although our initial permitted polygon was quite limiting, we have been able to develop a strong pipeline of drill-ready targets across the property and eagerly await the surface data collection on new, high-grade skarn and porphyry targets. Our priority is to secure key permits which are underway, in order to position ourselves to drill the most robust outcropping areas in the next phase of drilling. We are looking forward to additional exploration results and permit advancements as we prepare for a busy second half of 2025.”

Drill holes 6 through 20 confirm the presence of an extensive, high-temperature copper-gold skarn system in the Ccascabamba target area. The results mark a major advancement in the Company’s understanding of this large target, which is predominantly covered by shallow overburden, revealing a robust and laterally continuous system with significant vertical extent. Importantly, geological and geophysical indicators beyond the current mineralized footprint suggest that the system may extend beyond the current permit boundary, reinforcing the potential for a district-scale discovery.

At Hojota, broad intervals of copper anomalism – such as +30-meter zones averaging approximately 0.1% Cu – have been encountered within massive garnet-pyroxene skarn. These zones appear to be laterally continuous over 1 kilometer with significant vertical continuity. Results are interpreted to reflect high-temperature mineralization proximal to causative intrusions, with localized grade enhancements near structural and lithologic traps, such as impermeable hornfels and faults (Figure 2).

Figure 2: Interpreted geologic cross-section through drill holes 7 and 18 looking NE.

“Initial drilling around the Ccascabamba target area has confirmed a significant skarn system, with mineralized alteration extending over 300 meters from the intrusion-limestone contact and vertical continuity of more than 400 meters,” said Tim Kingsley, VP Exploration .“These early indications confirm the presence of a large-scale system, comparable to some of Peru’s most prominent porphyry-skarn deposits, such as Antamina and Las Bambas. With an improved geological model in place, the technical team is now leveraging insights from Phase 1 drilling to refine targets and guide future systematic testing across this highly prospective system.”

Table 1: Length and Density Weighted Composited Drill Hole Highlights at Hojota Target

Hole ID	From (m)	To (m)	Interval (m)	Cu %	Au (g/t)	Ag (g/t)
24SOM-007	112.2	119.9	7.7	0.24	0.05	1.42
239.9	249.05	9.15	0.21	0.03	0.27
25SOM-013	33.65	43.5	9.85	0.26	0.46	1.42
25SOM-016	187.45	196.85	9.4	0.19	0.03	1.08
25SOM-017	221.5	239.6	18.1	0.18	0.7	1.93
298.5	305.7	7.2	0.21	0.03	0.49
25SOM-018	17	38.85	21.85	0.22	0.05	0.92
Length and specific gravity (density) weighted assay results. True thickness unknown at time of reporting. Nearly all other drill holes intersected geochemically anomalous intervals which are useful for understanding the larger mineralizing system, however they did not meet the Company’s minimum reporting guidelines. No more than 6 m internal dilution (reported values below 0.2% Cu and/or 0.2 g/t Au). Minimum reporting length of 7 m.

Regional Target Pipeline Expands

Coppernico continues to grow its pipeline of copper targets through ongoing mapping and sampling programs beyond the Ccascabamba target area (Figure 3). These efforts are refining the Company’s understanding of the broader Sombrero Property potential and informing the strategic advancement of exploration activities. Results of this work are expected to be released in the near future.

Nioc target area: Early results indicate scale and grade potential on par with the Ccascabamba target area. Recent fieldwork has identified a previously unrecognized skarn system approximately 1.5 kilometers north of Nioc, referred to as the Antapampa target, which may represent either an extension of the Nioc system or a new standalone discovery, underscoring the prospectivity of the area.

Tipicancha target: Grassroots exploration southwest of the Ccascabamba target area has outlined a newly recognized copper-mineralized hydrothermal system. This epithermal / porphyry target is being rapidly advanced toward drill-ready status.

Macha Machay and Cello targets: Early stage, 1:10,000 scale mapping has identified multiple, new sulphide bearing alteration systems within these claim groups and additional work is planned to reveal the scale and potential of these new epithermal / porphyry targets.

Figure 3: Identified target pipeline at various stages of exploration across the Sombrero Project, underscoring a target-rich district beyond Ccascabamba.

Permitting Progress: To support the next phase of drilling, the Company is actively advancing its permitting efforts to access high-priority targets located beyond the current drill permit boundaries. These expanded permits will enable broader systematic testing across both newly defined and previously identified highly prospective target areas.

Technical Disclosure and Qualified Person

The scientific and technical information contained in this news release was reviewed and approved by Tim Kingsley, M.Sc., CPG, Coppernico’s VP of Exploration, who is a“Qualified Person” (as defined in NI 43-101).

Quality Control

Analytical samples were taken by sawing HQ or NQ diameter core into equal halves on site and one of the halves was sent to the ALS Lab in Lima, Peru for preparation and analysis. Preparation included crashing core sample to 90% < 2mm and pulverizing 1,000 g of crushed material to better than 95% < 106 microns. All samples are assayed using 30 g nominal weight fire assay with atomic absorption finish (Au-AA23) and multi-element using four acid digest ICP-AES/ICP-MS method (ME-MS61). Where MS61 results were greater or near 10,000 ppm Cu, or 10,000 ppm Zn the assays were repeated with ore grade four acid digest method (Cu-OG62). QA/QC programs for 2024 core samples using internal standard samples, blanks, and duplicates, lab duplicates, lab standards, and lab blanks indicate good overall accuracy and precision.

ON BEHALF OF THE BOARD OF DIRECTORS

Ivan Bebek
Chair & CEO

For further information, please contact:

Coppernico Metals Inc.

Phone: +1 778 729 0600

Email: …

Website:

Twitter: @CoppernicoMetal

LinkedIn:

About Coppernico

Coppernico is a mineral exploration company focused on creating value for shareholders and stakeholders through diligent project evaluation and exploration in pursuit of the discovery of world-class copper-gold deposits in the Americas. The Company’s management and technical teams have a successful track record of raising capital, discovery and the monetization of exploration successes. The Company’s objective is to become a leading advanced copper explorer, and through its wholly owned private Peruvian subsidiary Sombrero Minerales S.A.C., is currently focused on the Ccascabamba (previously referred to as Sombrero Main) and Nioc target areas within the Sombrero Project in Peru, its flagship project, while regularly reviewing additional premium projects to consider for acquisition.

The Sombrero Project is a land package of approximately 102,000 hectares (1,020 square kilometres) located in the north-western margins of the world-class Andahuaylas-Yauri trend in Peru. It consists of a number of prospective exploration targets characterized by copper-gold skarn and porphyry systems, and precious metal epithermal systems. The Company’s NI 43-101 technical report, with an effective date of April 17, 2024, and as filed on SEDAR+ on May 23, 2024, focuses on the Ccascabamba and Nioc target areas of the Sombrero Project.

Coppernico Metals Inc. is currently listed on the Toronto Stock Exchange under the symbol “COPR” and trades on the OTCQB Venture Market under the symbol“CPPMF”. More information about the Company can be found on the Company’s profile on SEDAR+ ( ).

Cautionary Note

No regulatory organization has approved the contents hereof.

This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively,“ forward-looking statements ”). Forward-looking statements are often identified by terms such as“may”,“should”,“anticipate”,“expect”,“intend” and similar expressions and include, but are not limited to, statements with respect to: the Company’s drill plans, the interpretation of assay results, identifying targets for future exploration, the potential of the mineralization, the progress and approval of permits, the potential expansion of the mineralization beyond currently permitted areas, the temporary suspension of drilling and its anticipated resumption, and its financial position in the future. No certainty can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Readers should refer to the risks discussed in the Company’s 2024 Annual Information Form and other continuous disclosure filings with the Canadian Securities Administrators, available at . These factors are not, and should not be construed as being, exhaustive. Accordingly, readers should not place heavy reliance on forward-looking statements. The forward-looking statements contained in this new release are expressly qualified by this cautionary statement. Any forward-looking information and the assumptions made with respect thereto speaks only as of the date of this news release. The Company does not undertake any obligation to publicly update or revise any forward-looking information after the date of this news release to conform such information to actual results or to changes in the Company’s expectations except as otherwise required by applicable legislation.

Figures accompanying this announcement are available at

MENAFN14052025004107003653ID1109547687

Wednesday, 14 May 2025

The accelerated review is part of a strategic response to the national energy emergency declared by President Donald Trump in January, the department said, and is expected to “significantly contribute to meeting urgent energy demands” as well as addressing national energy security concerns. Velvet-Wood is the first uranium project to be prioritised under the emergency procedures.

“The expedited mining project review represents exactly the kind of decisive action we need to secure our energy future,” said Secretary of the Interior Doug Burgum. “By cutting needless delays, we’re supporting good-paying American jobs while strengthening our national security and putting the country on a path to true energy independence.”

Anfield acquired the Velvet-Wood uranium and vanadium mine from Uranium One in 2015. Some 4 million pounds U3O8 (1539 tU) – as well as 5 million pounds of V2O5 – were recovered from the Velvet deposit between 1979 and 1984 by previous owner Atlas Minerals. The combined Velvet and Wood historical mines are currently estimated to contain 4.6 million pounds U3O8 of measured and indicated resources and inferred resources of 552,000 pounds U3O8.

Anfield submitted a Plan of Operation for the mine to the State of Utah and the Bureau of Land Management in May 2024. It is advancing Velvet-Wood towards production-ready status concurrently with the Shootaring Canyon mill. The Plan of Operation includes specific operating actions and controls, reclamation actions, an estimate of reclamation surety based on third-party costs and technical bases for how the actions meet state and federal regulatory requirements.

Anfield CEO Corey Dias said the company was pleased that Velvet-Wood had been selected for expedited permitting. “As a past-producing uranium and vanadium mine with a small environmental footprint, Velvet-Wood is well-suited for this accelerated review,” he said. “This marks a major milestone for Anfield as we look to play a meaningful role in rebuilding America’s domestic uranium and vanadium supply chain and reducing reliance on imports from Russia and China.”

Anfield is listed on the TSX Venture Exchange, the OTCQB Marketplace and the Frankfurt Stock Exchange, and is also currently pursuing a NASDAQ listing.