Canada’s main stock index was flat on Wednesday in choppy trading ahead of U.S. President Donald Trump’s reciprocal tariff announcement, with investors fearing significant ripple effects on global economic growth.
Toronto Stock Exchange’s S&P/TSX composite index was down 0.03% at 25,025.74 points, after two straight sessions of gains.
Trump, who has kept the world guessing on the details of the levies plans for weeks, is set to announce sweeping reciprocal tariffs on global trading partners at 1600 ET (2000 GMT), in what the White House has dubbed “Liberation Day.”
The tariffs, which will take effect immediately upon announcement, are expected to trigger price increases, prompt retaliatory measures from affected countries and disrupt decades of established trade practices.
“We are heading into a very, uncertain period and it is going to be a rough ride … this is a day where people should be already positioned in what they consider to be safer havens,” said Michael Sprung, president at Sprung Investment Management.
Communication stocks led the declines on Canada’s benchmark index, down 0.8%.
Materials stocks declined for the second straight session, down 0.6%, tracking lower copper prices.
Energy stocks fell 0.5%, as oil prices extended losses on concerns that an escalating trade war could dampen demand for crude.
Looking ahead, market participants will turn to Federal Reserve Chair Jerome Powell’s speech on Friday for insights on the health of the U.S. economy and trajectory of interest rates.
Traders expect three rate cuts from the Fed this year, although concerns about inflation driven by tariffs are adding uncertainty to the outlook.
Among individual stocks, Blackberry fell 11.6% after the cybersecurity firm forecast a revenue decline in fiscal 2026 as it anticipated weak spending on its cybersecurity products.
Listed below are some of the finalists for select categories in Markets Media Group’s 2025 Global Markets Choice Awards.
The GMCAs will be held on the evening of Thursday, June 5, at Central Park Boathouse in New York City.
| Best in Equities |
| Euronext |
| Japan Exchange Group |
| Nasdaq |
| NYSE |
| Toronto Stock Exchange |
| Best in Derivatives |
| B3 |
| Cboe Global Markets |
| CME Group |
| Eurex |
| Intercontinental Exchange |
| National Stock Exchange of India |
| SGX |
| Best in Fixed Income |
| Tradeweb |
| Propellant |
| Trumid |
| MarketAxess |
| Best in Digital Assets |
| Binance |
| Coinbase Exchange |
| Gemini |
| LMAX |
| Kraken |
| Best in Clearing |
| CME Clearing |
| DTCC |
| LCH |
| OCC |
| Best Emerging Market Exchange |
| B3 |
| BMV |
| Bombay Stock Exchange |
| Saudi Stock Exchange |
| Shanghai Stock Exchange |
| Best Exchange Group |
| Cboe Global Markets |
| HKEX |
| Intercontinental Exchange |
| LSEG |
| Nasdaq |
| SGX |
| Best EMS |
| Bloomberg |
| FactSet |
| Flextrade |
| SS&C Eze |
| TS Imagine |
| Best OMS |
| Bloomberg |
| Broadridge |
| Interactive Brokers |
| Trading Technologies |
| Charles River |
| BlackRock Aladdin |
| Best Retail Trading Technology |
| Charles Schwab |
| eToro |
| Fidelity |
| Interactive Brokers |
| Robinhood |
| Tiger Brokers |
| XTB |
| Best Derivatives Trading System |
| Broadridge |
| FIS |
| Sterling Trading Tech |
| Trading Technologies |
| TS Imagine |
| Mizuho Corporate Culture Award |
| Balyasny Asset Management |
| Bank of America |
| Bridgewater Associates |
| DBS Bank |
| DWS Asset Management |
| J.P. Morgan |
| Best buy-side trading team (listed products) |
| AllianceBernstein |
| BlackRock |
| Federated Hermes |
| Fidelity |
| Goldman Sachs Asset Management |
| HSBC Global Asset Management |
| JP Morgan Asset Management |
| State Street Global Advisors |
| Best buy-side trading team (OTC Products) |
| M&G |
| AXA IM |
| Schroders |
| T. Rowe Price |
| Best Sell-Side Trading Desk |
| Bank of America |
| Citi |
| Goldman Sachs |
| J.P. Morgan |
| Mizuho |
| Morgan Stanley |
| Most inspirational trading leader (buy side) |
| Kaustav Dasgupta, Two Sigma |
| Amy Koch Flynn, Fidelity Investments |
| Andy Munro, Janus Henderson |
| Tobi Molko, Bridgewater Associates |
| Jatin Vara / Dan Veiner, BlackRock |
| Best quant investment team |
| AQR Capital Managemern |
| Balyasny |
| Citadel |
| Man AHL |
| Millennium Management |
| Renaissance Technologies |
| Most effective electronic liquidity provider |
| Citadel Securities |
| Flow Traders |
| Hudson River Trading |
| Jane Street |
| Optiver |
| Susquehanna |
| Virtu Financial |
| CEO of the Year |
| Loh Boon Chye, SGX |
| Larry Fink, BlackRock |
| Jane Fraser, Citi |
| Billy Hult, Tradeweb |
| Charles Scharf, Wells Fargo |
| Lifetime Achievement |
| Michael Bloomberg, Bloomberg LP |
| Jim Esposito, Citadel Securities |
| Howard Lutnick, US Secretary of Commerce |
| Andy Munro, Janus Henderson |
| Daniel Pinto, JP Morgan |
| Jonathan Pruzan, Pretium Partners (ex- Morgan Stanley) |
Please note: Global Markets Choice Awards nominations are open through April 25. This GMCAs finalists list represents a snapshot of where we are in the evaluation process. The list is not final, and not being listed does not preclude consideration for an award. We reserve the right to drop, modify or add awards categories for the final GMCAs program.
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Endeavour Silver has signed a definitive share purchase agreement to acquire Compañia Minera Kolpa (Minera Kolpa) and its primary asset, the Huachocolpa Uno Mine (Kolpa), in Peru from its shareholders, in a deal valued at $145m (C$207.41m).
The acquisition marks Endeavour Silver’s third producing mine and its first in Peru.
Under the terms of the agreement, Endeavour Silver will pay $80m in cash and issue $65m in common shares to Minera Kolpa’s shareholders, who are affiliates of Arias Resource Capital Management and Grupo Raffo.
Additionally, Endeavour has agreed to pay up to $10m in contingent cash payments based on certain conditions. It will also assume approximately $20m in net debt from Minera Kolpa.
The transaction will be funded using proceeds from a new copper purchase agreement signed with Versamet Royalties Corporation, a bought deal financing of shares and existing cash reserves.
As per the copper purchase agreement, Versamet will pay upfront cash of $35m to acquire a copper stream at Kolpa.
Endeavour has also signed an agreement with a syndicate of underwriters, led by BMO Capital Markets, for a bought deal offering of 10,320,000 shares at a price of $3.88 per share, raising gross proceeds of approximately $40m.
Minera Kolpa is a silver-focused polymetallic mining company with operations in the Huachocolpa and Santa Ana districts of Huancavelica.
The company, directly or indirectly, owns mining rights to 143 mining concessions. It also holds claims covering 25,177ha and one beneficiation concession that covers 366ha.
The Kolpa mine has mineral deposits rich in silver, lead, zinc and copper.
In 2024, the mine produced approximately two million ounces (moz) of silver, 19,820 tonnes (t) of lead, 12,554t of zinc, and 518t of copper, equating to around 5.1moz of silver equivalent.
The addition of Kolpa is expected to boost Endeavour’s production profile by approximately 5moz of silver equivalent (AgEq oz), based on 2024’s production figures.
Endeavour CEO Dan Dickson said: “Today marks a significant milestone in Endeavour’s journey to becoming a senior silver producer. The acquisition of the Kolpa mine represents a material increase to our AgEq oz production and is a testament to our team’s dedication and vision and is not only about expanding our production portfolio; it’s a strategic step toward shaping a stronger, more dynamic future for the company.”
Endeavour expects the deal to provide a platform for further potential acquisitions in a region known for its extensive mining operations and prospective geology.
Subject to Toronto Stock Exchange (TSX) and NYSE regulatory approvals, as well as customary closing conditions, the deal is due to close within 60 days.
In November 2024, Endeavour Silver announced a bought-deal offering of 15,825,000 common shares at a price of $4.60 each, raising approximately $73m to fund the advancement of its Pitarrilla project in Mexico.
Many investors may not realize that distributions from some holdings in their Tax-Free Savings Accounts (TFSAs) are subject to withholding taxes, costing them potentially thousands of dollars in unnecessary taxes over their lifetimes.
Fortunately, you can avoid some of these hidden withholding taxes by planning which positions to hold in your TFSA, versus which to hold in your Registered Retirement Savings Plan (RRSP) and/or non-registered investment accounts.
In this article, we’ll focus on equities exchange traded funds (ETFs), and explain which types of ETFs to hold in which account to minimize withholding taxes. And we’ll go over the details of how withholding taxes work so you can understand where these taxes come from.
This article is for general information purposes only and does not constitute financial or investment advice.
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Talking about taxes on earnings in TFSA holdings may seem strange, since investment earnings within a TFSA are exempt from Canadian income taxes.
Withholding taxes are distinct from income taxes, however.
Withholding taxes are taxes that governments levy on income being paid from domestic holdings to foreign investors. The foreign investor could be an individual, a corporation, or an investment fund.
Specifically, if as a Canadian resident you hold a US-listed ETF, any dividends paid to you are normally subject to a 15% withholding tax. For example, if the US-based ETF were to issue its holders a dividend of 1 USD per share, you would receive only 85 cents per share in your investment account. The remaining 15 cents per share is withheld, and sent to the US government.
Under the tax treaty between Canada and the United States, residents of Canada are exempt from this withholding tax for US-listed equities and equities ETFs in their RRSPs, LIRAs (Locked-in Retirement Accounts), and RRIFs (Registered Retirement Income Funds), but unfortunately, not for their TFSAs.
When a Canadian investor holds a US equities ETF in their TFSA, these 15% withholding taxes are applied to every distribution—and there is currently no way to claim the withholdings as a tax credit on your Canadian income taxes, as you can in the case of withholding taxes on US-listed holdings held in your non-registered accounts.
Over the course of a Canadian investor’s lifetime, they could easily end up paying thousands of dollars of withholding taxes on their TFSA holdings, without ever being aware of it.
Fortunately, with proper planning and a consideration of where the ETF is listed and what equities it holds, you can make decisions to minimize your withholding taxes.
Ashley holds 800 units of a US-listed US equities ETF in their TFSA.
Over a 30 year period, the average annual distribution is 5 USD per unit.
Ashley will lose 18,000 USD to withholding taxes over the 30-year period (800 units x 5 USD x 30 years x 15%).
Withholding taxes work differently depending on where an equities ETF is listed, what holdings that ETF has, and whether the ETF holds those directly or indirectly.
Where an ETF is listed means the country whose exchange the ETF is on, and will also usually determine the currency in which that fund is traded.
For example, a Canadian-listed ETF will generally be listed on the Toronto Stock Exchange (TSX) and will trade in Canadian dollars, while US-listed ETFs are often listed on the New York Stock Exchange (NYSE) and trade in US dollars.
The equities holdings of an ETF refer to the investments the ETF holds, which could be in a different country or countries than the ETF is listed in. For example, a Canadian-listed ETF on the TSX might hold US equities, or a US-listed ETF on the NYSE might hold Brazilian equities.
Directly vs indirectly: in some cases, it can matter whether an ETF holds its holdings directly, such as by having individual stocks of those companies, or indirectly, such as by holding units of another ETF.
To check whether a fund holds its positions directly or through another ETF, check the list of holdings on the fund issuer’s website.
The table below provides a high-level summary of the most common Canadian investment accounts. In this table, “tax treatment” refers to income tax treatment, not to withholding taxes.
| Account type | Contribution room | Tax treatment of contributions | Tax treatment of withdrawals | Tax treatment of earnings within the account |
|---|---|---|---|---|
| TFSA | Accumulated annually – fixed amount ($7000 for 2025) | Contributions are not tax-deductible | Withdrawals are tax-free. | Tax-free |
| RRSP | Accumulated annually – 18% of the previous year’s earned income. | Contributions are tax-deductible. | Withdrawals are added to taxable income. | Tax-free |
| Non-registered | N/A | N/A | Withdrawals are not taxed. | Taxable |
| RRIF | N/A | N/A | Withdrawals are added to taxable income. | Tax-free |
| LIRA | N/A | N/A | Withdrawals are added to taxable income. | Tax-free |
RRIFs and LIRAs are treated the same as RRSPs for withholding tax purposes. So everything we write about “RRSP” in this article is equally applicable to a RRIF or LIRA.
For those saving for a child’s education in a Registered Education Savings Plan (RESP), the treatment of withholding taxes for an RESP is the same as for a TFSA.
To minimize your withholding taxes when investing in US Equities through an ETF, you should generally choose to purchase a US-listed ETF, and to hold that ETF in your RRSP, or, failing that, a non-registered account.
You should generally avoid holding a US-listed ETF in your TFSA.
The below table sets out the withholding taxes implications based on where you hold a US-listed US equities ETF:
| Type of account | Withholding tax implications |
|---|---|
| RRSP | Exempt from withholding taxes. |
| TFSA | 15% withholding taxes apply, and are irrecoverable. |
| Non-registered | 15% withholding taxes apply, but some may be recoverable using tax credits. |
Due to the tax treaty between Canada and the United States, when you file your Canadian income taxes it’s possible to claim a tax credit for US withholding taxes paid on positions held in your non-registered accounts.
When it comes to minimizing withholding taxes as a Canadian investor, it is always better to gain ETF exposure to US equities through a US-listed ETF held in your RRSP, RRIF, or LIRA.
In Canada, non-Canadian, non-US equities are generally referred to as “international equities.”
Unlike US Equities ETFs, international equities ETFs will almost always be subject to some level of withholding tax from the foreign country—this is unavoidable, but may be recoverable through tax credits in some cases for non-registered accounts, depending on the foreign country and which tax treaties are in place.
But if you hold international equities through a US-listed ETF, you may be subject to additional US withholding taxes.
For TFSAs and for non-registered accounts, you should generally gain international equity exposure through a Canadian-listed ETF which holds the international securities directly.
Be on the lookout for Canadian-listed ETFs that gain their international exposure by holding US-listed ETFs (indirect)—these ETFs will incur additional unnecessary withholding taxes. Check the fund issuer’s webpage to look at the fund’s holdings—if the holdings are US-listed ETFs, additional withholding taxes will apply.
For your RRSP (but not your TFSA), you will not incur any additional withholding taxes when you gain international equities exposure through a US-listed ETF (direct).
In the table below, we refer to foreign withholding taxes from a non-US country as “international withholding taxes.”
| ETF type | RRSP | TFSA | Non-registered |
|---|---|---|---|
| Canadian-listed international equities (direct) | International withholding taxes will apply. | International withholding taxes will apply. | International withholding taxes will apply, but may be creditable |
| US-listed international equities (direct) | International withholding taxes will apply. | Both international and US withholding taxes will apply. | Both international and US withholding taxes will apply, but the US withholding taxes may be creditable. |
| Canadian-listed international equities through a US-listed ETF (indirect) | Both international and US withholding taxes will apply. | Both international and US withholding taxes will apply | Both international and US withholding taxes will apply, but the US withholding taxes may be creditable. |
As we can see in the table above, for international equities ETFs held in your RRSP, there is no difference in withholding taxes between Canadian-listed and US-listed ETFs, so long as the ETFs hold the foreign equities directly.
For your TFSA, in contrast, you’ll be better off gaining exposure to international equities through a Canadian-listed ETF (direct).
For both RRSPs and TFSAs, it is disadvantageous to hold international equities indirectly through a US-listed ETF.
When purchasing an ETF to gain exposure to Canadian equities, you should generally choose a Canadian-listed ETF which holds Canadian equities (directly, or through Canadian-listed ETFs).
For Canadian listed ETFs holding Canadian equities, you need not worry about any withholdings taxes, regardless of the account you hold these in: RRSP, TFSA, or non-registered.
In general, you’ll wish to avoid gaining Canadian equities exposure through a US-listed ETF, because you will get dinged with Canada’s foreign withholding taxes (15% of the dividends payable to the US-listed fund).
Keep in mind that the above information focuses on withholding taxes only—not on income taxes.
You and your advisor should also take into account income taxes when determining which investments to hold in which accounts.
It makes little sense to choose to hold a foreign ETF in a non-registered account so as to have the withholding taxes recoverable, if you have space in your TFSA and would end up paying more in income taxes than you’d get hit by the withholdings.
Income taxes are extremely complex and depend heavily on your personal situation.
That said, all other things being equal, it’s best to be subject to the lowest amount of withholding taxes possible, and if withholding taxes are unavoidable (due to the composition of your portfolio), to have those taxes be recoverable.
Usually, yes—you can open a TFSA or RRSP account as a newcomer to Canada.
You need only be considered a resident of Canada for tax purposes in order to open these investment accounts.
Keep in mind that if you cease to become a resident of Canada for tax purposes, that may impact the tax treatment of these accounts.
Remember that it’s important to keep track of your TFSA and RRSP contribution room, as you may face steep financial penalties for overcontributing. You are always responsible for keeping track of your own contribution room—not your financial institution or the CRA.
Most people living in Canada will be considered residents of Canada for tax purposes, regardless of their immigration status (visitor, temporary resident, permanent resident, out-of-status).
Your residency for tax purposes is based on your social and economic ties to Canada, such as maintaining a Canadian address.
If in doubt about whether you are a resident of Canada for tax purposes, you may contact the Canada Revenue Agency for assistance in determining your tax residency.
TORONTO — Shares in BlackBerry Ltd. fell nearly 10 per cent in early trading after it reported a net loss of US$7.4 million in its fourth quarter compared with a loss of US$56.2 million a year earlier.
Shares in the company were down 51 cents at C$4.84 in trading on the Toronto Stock Exchange shortly after the market opening.
BlackBerry, which keeps its books in U.S. dollars, says its loss amounted to a penny US per share for the quarter ended Feb. 28 compared with a loss of 10 cents US per share a year earlier.
Revenue for the quarter totalled US$141.7 million, down from US$152.9 million in the same quarter last year.
The drop came as secure communications revenue totalled US$67.3 million, down from US$71.6 million a year ago, while QNX revenue amounted to $65.8 million, down from $65.9 million. Licensing revenue was US$8.6 million, down from US$15.4 million in the same quarter last year.
BlackBerry says its adjusted net income for the quarter amounted to a profit of three cents US per share, the same as a year earlier.
This report by The Canadian Press was first published April 2, 2025.
Companies in this story: (TSX:BB)
The Canadian Press
(MENAFN– Newsfile Corp)
Scottsdale, Arizona–(Newsfile Corp. – April 2, 2025) – TriStar Gold Inc. (TSXV: TSG) (OTCQB: TSGZF) (the Company or TriStar) is pleased to confirm that TriStar President and CEO Nick Appleyard has returned from leave effective April 1, 2025. Please see the Company’s December 6, 2024 press release for details. Jessica Van Den Akker, who has assumed the role of Interim CEO during Nick’s absence, is continuing her role as a Director of TriStar.
In addition, the Company is also providing an update on the requests from a Federal Public Prosecutor to the government regulators related to TriStar’s Castelo de Sonhos gold project in Brazil: see the Company’s press release from October 1, 2024 for details. TriStar is pleased to confirm that there has not been any additional support for the Prosecutor’s position. The Pará Secretariat for the Environment and Sustainability (SEMAS), TriStar’s principal regulator, has shown strong support for the permitting process completed at Castelo de Sonhos; please see the Company’s press release from December 19, 2024, for details of the response from regulators.
“I remain confident in the robust permitting process completed at Castelo de Sonhos and see the support for this Project from SEMAS and the community as a testament to the potential benefits it could deliver,” says Nick Appleyard, TriStar President and CEO. “Our Preliminary License for Castelo de Sonhos was received in August 2024 and remains valid with no restrictions in place as we continue to look at financing options to advance the Project through drilling and feasibility to a construction decision. I would also like to thank TriStar Director Jessica Van Den Akker for assuming the interim CEO role during my absence and ensuring business continuity during this important time.”
About TriStar
TriStar Gold is an exploration and development company focused on precious metals properties in the Americas that have the potential to become significant producing mines. The Company’s current flagship property is the Castelo de Sonhos gold project in Pará State, Brazil. TriStar has completed a pre-feasibility study and is now working to advance the project towards a feasibility study while evaluating optimization options. The Company’s shares trade on the TSX Venture Exchange under the symbol TSG and on the OTCQB under the symbol TSGZF . Further information is available at .
ON BEHALF OF THE BOARD OF DIRECTORS OF THE COMPANY:
Nick Appleyard
President and CEO
480-794-1244
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.
Forward-Looking Statements
Certain statements contained in this press release may constitute forward-looking statements under Canadian securities legislation which are not historical facts and are made pursuant to the “safe harbour” provisions under the United States Private Securities Litigation Reform Act of 1995. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “expects” or “it is expected”, or variations of such words and phrases or statements that certain actions, events or results “will” occur. Such forward-looking statements are based upon the Company’s reasonable expectations and business plan at the date hereof, which are subject to change depending on economic, political and competitive circumstances and contingencies. Readers are cautioned that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause a change in such assumptions and the actual outcomes and estimates to be materially different from those estimated or anticipated future results, achievements or position expressed or implied by those forward-looking statements. Risks, uncertainties and other factors that could cause the Company’s plans to change include changes in demand for and price of gold and other commodities (such as fuel and electricity) and currencies; changes or disruptions in the securities markets; legislative, political or economic developments in Brazil; effects of the COVID-19 virus on all aspects of the Company’s business, the need to obtain permits and comply with laws and regulations and other regulatory requirements; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of the Company’s projects; risks of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining or development activities; the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of reserves and resources; and the risks involved in the exploration, development and mining business. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
To view the source version of this press release, please visit
SOURCE: TriStar Gold Inc.
MENAFN02042025004218003983ID1109381463
| DDH | Zone | From (m) | To (m) | Core Length (m) |
Au g/t – Uncut |
Host Lithology | |
| OB-24-337-Pilot (Previously Released 16th December, 2024) | O’Brien Mine | 1,507.6 | 1,508.6 | 1.0 | 5.57 | POR-S | |
| 1,517.7 | 1,525.7 | 8.0 | 31.24 | POR-S | |||
| Including | 1,517.7 | 1,518.7 | 1.0 | 242.00 | POR-S | ||
| 1,610.5 | 1,611.9 | 1.4 | 5.49 | V3-N | |||
| 1,660.5 | 1,662.7 | 2.3 | 3.78 | S3P | |||
| Including | 1,660.5 | 1,661.6 | 1.2 | 5.78 | S3P | ||
| OB-24-337W1 | O’Brien Mine | 1,513.3 | 1,514.8 | 1.5 | 3.82 | V3-CEN | |
| 1,575.5 | 1,581.9 | 6.4 | 4.43 | V3-N | |||
| Including | 1,575.5 | 1,576.7 | 1.2 | 18.65 | V3-N | ||
| 1,618.7 | 1,619.7 | 1.0 | 3.67 | V3-N | |||
| OB-24-337W2 | O’Brien Mine | 1,378.5 | 1,379.8 | 1.3 | 6.70 | V3-N | |
| 1,486.1 | 1,487.5 | 1.4 | 9.62 | S1P | |||
| 1,530.0 | 1,532.0 | 2.0 | 4.36 | V3-N | |||
| Including | 1,531.0 | 1,532.0 | 1.0 | 5.90 | V3-N | ||
| OB-24-337W3 | O’Brien Mine | 1,350.4 | 1,353.4 | 3.0 | 4.54 | V3-S | |
| Including | 1,350.4 | 1,351.9 | 1.5 | 7.61 | V3-S | ||
| 1,420.5 | 1,422.0 | 1.5 | 3.18 | POR-S | |||
| 1,443.0 | 1,445.2 | 2.2 | 29.93 | V3-CEN | |||
| Including | 1,444.0 | 1,445.2 | 1.2 | 53.50 | V3-CEN | ||
| 1,554.0 | 1,556.1 | 2.1 | 5.48 | S3P |
Notes on Calculation of Drill Intercepts:
The O’Brien Gold Project March 2023 Mineral Resource Estimate (“MRE”) utilizes a 4.50 g/t Au bottom cutoff, a The O’Brien Gold Project March 2023 Mineral Resource Estimate (“MRE”) utilizes a 4.50 g/t Au bottom cutoff, a US$1600 gold price, a minimum mining width of 1.2 metres, and a 40 g/t Au upper cap on composites. Intercepts presented in Table 1 are calculated with a 3.00 g/t Au bottom cut-off, representing the lower limit of cut-off sensitivity presented in the March 2023 MRE. This methodology differs from previous Radisson disclosure, and intercepts reported in this release may not be directly comparable to historical published intercepts. Sample grades are uncapped. True widths, based on depth of intercept and drill hole inclination, are estimated to be 30-80% of core length. Table 2 presents additional drill intercepts calculated with a 1.00 g/t bottom cut-off over a minimum 1.0 metre core length so as to illustrate the frequency and continuity of mineralized intervals within which high-grade gold veins at O’Brien are developed. Lithology Codes: PON-S3: Pontiac Sediments; V3-S, V3-N, V3-CEN: Basalt-South, North, Central; S1P, S3P: Conglomerate; POR-S, POR-N: Porphyry South, North; TX: Crystal Tuff, ZFLLC: Larder-Lake-Cadillac Fault Zone.
Gold Mineralization at O’Brien
Gold mineralizing quartz-sulphide veins at O’Brien occur within a thin band of interlayered mafic volcanic rocks, conglomerates, and porphyric andesitic sills of the Piché Group occurring in contact with the east-west oriented Larder Lake-Cadillac Break (“LLCB”). Gold, along with pyrite and arsenopyrite, is typically associated with shearing and a pervasive biotite alteration, and developed within multiple Piché Group lithologies and, occasionally, the hanging-wall Pontiac and footwall Cadillac meta-sedimentary rocks.
As mapped at the historic O’Brien mine, and now replicated in the modern drilling, individual veins are generally narrow, ranging from several centimetres up to several metres in thickness. Multiple veins occur sub-parallel to each other, as well as sub-parallel to the Piché lithologies and the LLCB. Individual veins have well-established lateral continuity, with near-vertical, high-grade shoots developed over significant lengths.
Figure 3 illustrates modelling of four veins extending from the OB-24-337 pilot hole and wedges upward to the deepest underground working at the historic O’Brien mine. Vein V3-S_20 intersects OB-24-337W2 and W3 and is further supported by underground mapping in an exploration drift located to the south of the main mined out vein at level 3450. Vein V3-C_03 is intersected by the pilot hole and all three wedges and is further supported by underground mapping and the historic stope locations. Vein V3-N_02 is also intersected by the pilot hole and all three wedges and is further supported by historic underground drilling from the 3450 level. V3-N_03 is intersected by all four deep holes. Radisson’s vein modelling is undertaken dynamically as drilling proceeds and is used to guide future exploration and, ultimately, domaining for future resource estimation.
The historic O’Brien mine produced over half a million ounces of gold from such veins and shoots at an average grade exceeding 15 g/t and over a vertical extent of at least 1,000 metres. Recent exploration has focussed on delineating well developed vein mineralization to the east of the historic mine, with additional high-grade shoots becoming evident in the exploration data over what has been described as a series of repeating trends (“Trend #s 0 to 5”).
Based on drilling complete to the end of 2022, the Project has estimated Indicated Mineral Resources of 0.50 million ounces (1.52 million tonnes at 10.26 g/t Au), with additional Inferred Mineral Resources of 0.45 million ounces (1.60 million tonnes at 8.66 g/t Au). Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
QA/QC
All drill cores in this campaign are NQ in size. Assays were completed on sawn half-cores, with the second half kept for future reference. The samples were analyzed using standard fire assay procedures with Atomic Absorption (AA) finish at ALS Laboratory Ltd, in Val-d’Or, Quebec. Samples yielding a grade higher than 10 g/t Au were analyzed a second time by fire assay with gravimetric finish at the same laboratory. Mineralized zones containing visible gold were analyzed with metallic sieve procedure. Standard reference materials, blank samples and duplicates were inserted prior to shipment for quality assurance and quality control (QA/QC) program.
Qualified Person
Disclosure of a scientific or technical nature in this news release was prepared under the supervision of Mr. Richard Nieminen, P.Geo, (QC), a geological consultant for Radisson and a Qualified Person for purposes of NI 43-101. Mr. Nieminen is independent of Radisson and the O’Brien Gold Project.
Figure 2 : Cross Section through the historic O’Brien mine including drill holes OB-24-337, and 337W1 to W3.
To view an enhanced version of this graphic, please visit:
Figure 3 : Vein Modelling Across Drill Holes OB-24-337, and 337W1 to W3.
To view an enhanced version of this graphic, please visit:
Table 2 : Detailed Assay Results (see “Notes on Calculation of Drill Intercepts”)
| DDH | Zone | From (m) | To (m) | Core Length (m) |
Au g/t – Uncut |
Host Lithology | |
| OB-24-337-Pilot (Previously Released 16th December, 2024) | O’Brien Mine | 1,507.6 | 1,508.6 | 1.0 | 5.57 | POR-S | |
| 1,517.7 | 1,525.7 | 8.0 | 31.24 | POR-S | |||
| Including | 1,517.7 | 1,518.7 | 1.0 | 242.00 | POR-S | ||
| 1,550.5 | 1,552.0 | 1.5 | 2.38 | V3-CEN | |||
| 1,610.5 | 1,611.9 | 1.4 | 5.49 | V3-N | |||
| 1,660.5 | 1,662.7 | 2.3 | 3.78 | S3P | |||
| including | 1,660.5 | 1,661.6 | 1.2 | 5.78 | S3P | ||
| OB-24-337W1 | O’Brien Mine | 1,488.5 | 1,489.5 | 1.0 | 1.13 | POR-S | |
| 1,513.3 | 1,519.3 | 6.0 | 1.89 | V3-CEN | |||
| Including | 1,513.3 | 1,514.8 | 1.5 | 3.82 | V3-CEN | ||
| 1,540.4 | 1,543.3 | 2.9 | 1.98 | V3-CEN/S1P | |||
| 1,575.5 | 1,581.9 | 6.4 | 4.43 | V3-N | |||
| Including | 1,575.5 | 1,576.7 | 1.2 | 18.65 | V3-N | ||
| 1,591.2 | 1,593.7 | 2.5 | 1.51 | V3-N | |||
| 1,618.7 | 1,621.8 | 3.1 | 2.49 | V3-N | |||
| Including | 1,618.7 | 1,619.7 | 1.0 | 3.67 | V3-N | ||
| OB-24-337W2 | O’Brien Mine | 1,378.5 | 1,379.8 | 1.3 | 6.70 | V3-N | |
| 1,445.0 | 1,446.1 | 1.1 | 2.58 | POR-S | |||
| 1,448.9 | 1,450.4 | 1.5 | 1.92 | POR-S | |||
| 1,454.8 | 1,456.3 | 1.5 | 1.37 | V3-CEN | |||
| 1,486.1 | 1,487.5 | 1.4 | 9.62 | S1P | |||
| 1,510.8 | 1,512.1 | 1.3 | 1.06 | V3-N | |||
| 1,530.0 | 1,532.0 | 2.0 | 4.36 | V3-N | |||
| Including | 1,531.0 | 1,532.0 | 1.0 | 5.90 | V3-N | ||
| 1,549.9 | 1,551.4 | 1.5 | 1.72 | S3P | |||
| 1,565.4 | 1,566.5 | 1.1 | 1.16 | S3P | |||
| OB-24-337W3 | O’Brien Mine | 1,350.4 | 1,353.4 | 3.0 | 4.54 | V3-S | |
| Including | 1,350.4 | 1,351.9 | 1.5 | 7.61 | V3-S | ||
| 1,411.0 | 1,422.0 | 11.0 | 1.22 | POR-S | |||
| Including | 1,420.5 | 1,422.0 | 1.5 | 3.18 | POR-S | ||
| 1,440.5 | 1,442.0 | 1.5 | 1.03 | V3-CEN | |||
| 1,443.0 | 1,445.2 | 2.2 | 29.93 | V3-CEN | |||
| Including | 1,444.0 | 1,445.2 | 1.2 | 53.50 | V3-CEN | ||
| 1,480.0 | 1,481.5 | 1.5 | 1.74 | S1P | |||
| 1,525.3 | 1,526.7 | 5.4 | 1.34 | V3-N | |||
| 1,554.0 | 1,556.1 | 2.1 | 5.48 | S3P |
Radisson Mining Resources Inc.
Radisson is a gold exploration company focused on its 100% owned O’Brien Gold Project, located in the Bousquet-Cadillac mining camp along the world-renowned Larder-Lake-Cadillac Break in Abitibi, Québec. The Bousquet-Cadillac mining camp has produced over 25 million ounces of gold over the last 100 years. The Project hosts the former O’Brien Mine, considered to have been Québec’s highest-grade gold producer during its production. Indicated Mineral Resources are estimated at 0.50 million ounces (1.52 million tonnes at 10.26 g/t Au), with additional Inferred Mineral Resources estimated at 0.45 million ounces (1.60 million tonnes at 8.66 g/t Au). Please see the NI 43-101 “Technical Report on the O’Brien Project, Northwestern Québec, Canada” effective March 2, 2023, Radisson’s Annual Information Form for the year ended December 31, 2023 and other filings made with Canadian securities regulatory authorities available at for further details and assumptions relating to the O’Brien Gold Project.
For more information on Radisson, visit our website at or contact:
Matt Manson
President and CEO
416.618.5885
…
Kristina Pillon
Manager, Investor Relations
604.908.1695
…
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections, and interpretations as at the date of this news release. Forward-Looking statements including, but are not limited to, statements with respect to planned and ongoing drilling, the significance of drill results, the ability to continue drilling, the impact of drilling on the definition of any resource, the ability to incorporate new drilling in an updated technical report and resource modelling, the Company’s ability to grow the O’Brien project and the ability to convert inferred mineral resources to indicated mineral resources. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements Forward-Looking information is based on estimates of management of the Company, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the drill results at O’Brien; the significance of drill results; the ability of drill results to accurately predict mineralization; the ability of any material to be mined in a matter that is economic. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Company believes that this forward-looking information is based on reasonable assumptions, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. The Company does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law. These statements speak only as of the date of this news 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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
To view the source version of this press release, please visit
SOURCE: Radisson Mining Resources
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Published Apr 02, 2025 • 7 minute read
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR TO BE TRANSMITTED, DISTRIBUTED TO, OR SENT BY, ANY NATIONAL OR RESIDENT OR CITIZEN OF ANY SUCH COUNTRIES OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION MAY CONTRAVENE LOCAL SECURITIES LAWS OR REGULATIONS.
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CASCAIS, Portugal, April 02, 2025 (GLOBE NEWSWIRE) — Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) (“Pulsar” or the “Company”), a leading helium project development company, is pleased to announce the commencement of well-testing activities at Jetstream #1 and Jetstream #2 at its flagship Topaz project in Lake County, Minnesota.
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The well-testing program data is needed to prepare a resource update.
Thomas Abraham-James, President & CEO of Pulsar, commented:
“The commencement of well-testing activities at the Jetstream #1 and #2 wells at our Topaz helium project in Minnesota is a significant milestone. Flow, pressure and gas sample data will be collected and will build upon the drilling success achieved at Topaz to date. We look forward to keeping the market updated with progress.”
About the Topaz Project
The Topaz project is located in northern Minnesota, USA where Pulsar is the first mover and holds exclusive leases. Drilling at the Jetstream #1 appraisal well has now reached total depth (“TD”) of 5,100 feet (1,555 metres) on January 11, 2025, successfully penetrating the entire interpreted helium-bearing reservoir and beyond. The Jetstream #1 appraisal well previously reached TD of 2,200 feet (671 metres) on February 27, 2024, identifying top-tier helium concentrations of up to 14.5%, well above the 0.3% widely accepted economic threshold, and CO2 concentrations exceeding 70% – with the latter expected to further contribute to the project economics. Drilling of, the Jetstream #2 appraisal well was completed on February 1, 2025, reaching a TD of 5,638 feet (1,718 metres). The deepening of Jetstream #1 and completion of the drilling of Jetstream #2 are pivotal steps in advancing Pulsar’s strategy to address the increasing global demand for helium as the Company moves another step closer to production.
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On behalf Pulsar Helium Inc.
“Thomas Abraham-James”
President, CEO and Director
Further Information:
Pulsar Helium Inc.
connect@pulsarhelium.com
+ 1 (218) 203-5301 (USA/Canada)
+44 (0) 2033 55 9889 (United Kingdom)
https://pulsarhelium.com
https://ca.linkedin.com/company/pulsar-helium-inc.
Strand Hanson Limited
(Nominated & Financial Adviser, and Joint Broker)
Ritchie Balmer / Rob Patrick / Richard Johnson
+44 (0) 207 409 3494
OAK Securities*
(Joint Broker)
Jerry Keen (Corporate Broking) / Henry Clarke (Institutional Sales) / Dillon Anadkat (Corporate Advisory)
info@OAK-securities.com
+44 203 973 3678
BlytheRay Ltd
(Financial PR)
Megan Ray / Said Izagaren
+44 207 138 3204
pulsarhelium@blytheray.com
*OAK Securities is the trading name of Merlin Partners LLP, a firm incorporated in the United Kingdom and regulated by the UK Financial Conduct Authority.
About Pulsar Helium Inc.
Pulsar Helium Inc. is a publicly traded company listed on the AIM market of the London Stock Exchange and the TSX Venture Exchange with the ticker PLSR, as well as on the OTCQB with the ticker PSRHF. Pulsar’s portfolio consists of its flagship Topaz helium project in Minnesota, USA, and the Tunu helium project in Greenland. Pulsar is the first mover in both locations with primary helium occurrences not associated with the production of hydrocarbons identified at each.
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release and the interview contains forward-looking information within the meaning of Canadian securities legislation (collectively, “forward-looking statements”) that relate to the Company’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be forward-looking statements. Forward-looking statements herein include, but are not limited to, statements relating to the completion of the flow testing and pressure build up tests of Jetstream #1 and Jetstream #2, the timing of completion of the flow testing and pressure testing; the potential impact of the drill results, flow testing and pressure testing on the deepening of Jetstream #1, the drilling Jetstream #2 on the next iteration of the resource estimate; the potential of CO2 as a valuable by-product of the Company’s future helium production; and the potential for future wells. Forward-looking statements may involve estimates and are based upon assumptions made by management of the Company, including, but not limited to, the Company’s capital cost estimates, management’s expectations regarding the availability of capital to fund the Company’s future capital and operating requirements and the ability to obtain all requisite regulatory approvals.
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No reserves have been assigned in connection with the Company’s property interests to date, given their early stage of development. The future value of the Company is therefore dependent on the success or otherwise of its activities, which are principally directed toward the future exploration, appraisal and development of its assets, and potential acquisition of property interests in the future. Un-risked Contingent and Prospective Helium Volumes have been defined at the Topaz Project. However, estimating helium volumes is subject to significant uncertainties associated with technical data and the interpretation of that data, future commodity prices, and development and operating costs. There can be no guarantee that the Company will successfully convert its helium volume to reserves and produce that estimated volume. Estimates may alter significantly or become more uncertain when new information becomes available due to for example, additional drilling or production tests over the life of field. As estimates change, development and production plans may also vary. Downward revision of helium volume estimates may adversely affect the Company’s operational or financial performance.
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Helium volume estimates are expressions of judgement based on knowledge, experience and industry practice. These estimates are imprecise and depend to some extent on interpretations, which may ultimately prove to be inaccurate and require adjustment or, even if valid when originally calculated, may alter significantly when new information or techniques become available. As further information becomes available through additional drilling and analysis the estimates are likely to change. Any adjustments to volume could affect the Company’s exploration and development plans which may, in turn, affect the Company’s performance. The process of estimating helium resources is complex and requires significant decisions and assumptions to be made in evaluating the reliability of available geological, geophysical, engineering, and economic date for each property. Different engineers may make different estimates of resources, cash flows, or other variables based on the same available data.
Forward-looking statements 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. Such risks and uncertainties include, but are not limited to, that Pulsar may be unsuccessful in completing the flow testing and pressure testing of Jetstream #1 and Jetstream #2, in drilling commercially productive wells; the uncertainty of resource estimation; operational risks in conducting exploration, including that flow-testing, pressure testing and drill costs may be higher than estimates ; commodity prices; health, safety and environmental factors; and other factors set forth above as well as under “Cautionary Note Regarding Forward Looking Statements and Market and Industry Data” and “Risk Factors” in the AIM Admission Document published on October 14, 2024 found on the Company’s web site at https://pulsarhelium.com/investors/aim-rule-26/default.aspx.
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Forward-looking statements contained in this news release are as of the date of this news release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. No assurance can be given that the forward-looking statements herein will prove to be correct and, accordingly, investors should not place undue reliance on forward-looking statements. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
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