Category: Canada

Following shareholder approval, Toronto-headquartered Barrick Gold has completed its name change to Barrick Mining Corporation and Société minière Barrick in French.

“Barrick’s vision is to be the world’s most valued gold and copper exploration, development and mining company. Along with our world-class portfolio of six Tier-1 gold mines, we are building a substantial copper business which will be a meaningful contributor to growing our production volumes in the coming years and beyond,” said Barrick President and CEO Mark Bristow.

“Barrick Mining Corporation and our new stock symbol, ‘B’, better reflect Barrick’s current business and our mission to achieve sustainable and profitable gold and copper growth. Gold remains core to our foundation and we will continue to explore for and develop new gold mines, including the expansion of Pueblo Viejo, the exciting Fourmile gold project in Nevada and exemplified by the Reko Diq project with its world class mix of both copper and gold.”

Barrick common shares commenced trading under the company’s new name on the New York Stock Exchange (NYSE) and the Toronto Stock Exchange (TSX) at the start of trading on May 9. Additionally, the ticker symbol for Barrick common shares listed on the NYSE changed from “GOLD” to “B.” Barrick common shares continue to trade under the “ABX” ticker symbol on the TSX.

EXCLUSIVE: Anne Watanabe (Cube, Stay Mum) and Jasper Pääkkönen are leading the latest international drama series hitting the market. They will star in Blood & Sweat, which brings together partners from three continents.

Japanese satcaster and streamer Wowow and Finland‘s Nelonen have co-commissioned the series, with Japan‘s AX-ON, a subsidiary of Nippon TV, and Finland’s ICS Nordic attached to co-produce. Canada’s Boat Rocker now boarding to take global distribution rights and another partner on the production. Japan’s AX-ON, a subsidiary of Nippon TV, and Finland’s ICS Nordic are also attached as co-producers.

The eight-part series, which Wowow teased earlier this year, follows Watanabe and Pääkkönen as detectives from different cultures whose shared sense of justice drives them to embark on a joint investigation into a mysterious serial murder case that stretches from Finland to Japan.

Production is underway in Finland and Japan. Boat Rocker’s Ivan Schneeberg and David Fortier, Nick Nantell and Jon Rutherford are exec producing alongside Wowow’s Takashima, AX-ON’s Daniel Toivonen, who will also direct, and ICS’s Ilkka Rahkonen and Ilkka Hynninen. The series is produced by Wowow’s Keita Tsutsumiguchi, AX-ON’s Risa Tanoue and ICS’s Erna Aalto and Jarkko Hentula. Riku Suokas, Daniel Toivonen, Marie Iwasaki, and Heikki Syrjä are the writers.

“Though Japan and Finland are far apart, this project has revealed unexpected cultural harmony between the two,” said Tomomi Takashima, executive producer at Wowow. “With a powerful original story and an outstanding cast from both countries, it’s a unique and wonderful collaboration, and we’re thrilled to be partnering with Boat Rocker to bring this special series to audiences around the globe.”

Wowow is known for international co-productions such as HBO Max’s Tokyo Vice, another noir-style drama made with partners outside Japan that ran for two seasons.

Ilkka Hynninen, Creative Director of ICS Nordic added that Blood & Sweat was “a great example of how international IP from Finland and Japan can be successfully brought to the international market. Developed in collaboration with our Japanese partners, this project blends Finnish and Japanese sensibilities to create a unique and exciting experience that resonates with global audiences and sparks the imagination of world citizens.”

Hynninen, who founded ICS Nordic with Ilkka Rahkonen, have focused on making shows for the global market since launch in 2022 and recently finished an international version of comedy feature ISMO – Breaking Bad English.

Writer and director Toivonen told audiences to be “prepared for something you have never even imagined seeing before as we mix the Nordic Noir genre with Japanese aesthetics and characters.”

“With deep mystery, intrigue, and action, Blood & Sweat is sure to captivate international audiences thanks to the bold storytelling from our creative partners,” said Nantell, who is Executive Vice President, Head of Scripted Creative at Boat Rocker Studios. “This exciting new project further underscores our commitment to strategically invest in premium scripted co-productions we believe in,” added Boat Rocker’s Jon Rutherford, President of Global Rights, Franchise and Content Strategy.

Toronto-listed Boat Rocker, originally known for unscripted, now sells international scripted series such as Irish comedy-horror Video Nasty, buzzy Australian drama Mix Tape and upcoming BBC Scotland and Sky New Zealand drama The Ridge.

The company is in the process of being sold to Blue Ant Media in a reverse takeover, but Boat Rocker bosses Ivan Schneeberg, David Fortier and John Young have formed a new biz, IDJCo, to buy Boat Rocker Studios and their brand management and franchise management operations. Once the transaction is completed, their new company will be named Boat Rocker once again, as Blue Ant establishes a Toronto Stock Exchange-listed business, Blue Ant Media Corporation.

EXCLUSIVE: Anne Watanabe (Cube, Stay Mum) and Jasper Pääkkönen (BlacKkKlansman, Vikings) are leading the latest international drama series hitting the market. They will star in Blood & Sweat, which brings together partners from three continents.

Japanese satcaster and streamer Wowow and Finland‘s Nelonen have co-commissioned the series, with Japan‘s AX-ON, a subsidiary of Nippon TV, and Finland’s ICS Nordic attached to co-produce. Canada’s Boat Rocker is now boarding to take global distribution rights and another partner on the production. Japan’s AX-ON, a subsidiary of Nippon TV, and Finland’s ICS Nordic are also attached as co-producers.

The eight-part series, which Wowow teased earlier this year, follows Watanabe and Pääkkönen as detectives from different cultures whose shared sense of justice drives them to embark on a joint investigation into a mysterious serial murder case that stretches from Finland to Japan.

Production is underway in Finland and Japan. Boat Rocker’s Ivan Schneeberg and David Fortier, Nick Nantell and Jon Rutherford are exec producing alongside Wowow’s Takashima, AX-ON’s Daniel Toivonen, who will also direct, and ICS’s Ilkka Rahkonen and Ilkka Hynninen. The series is produced by Wowow’s Keita Tsutsumiguchi, AX-ON’s Risa Tanoue and ICS’s Erna Aalto and Jarkko Hentula. Riku Suokas, Daniel Toivonen, Marie Iwasaki, and Heikki Syrjä are the writers.

Japanese lead Watanabe has appeared in Yasuhiko Shimizu feature Cube, Hiroshi Nishitani’s Midsummer’s Equation, Wowow’s TV miniseries xxxHOLiC and Kôsai Sekine’s 2024 film Stay Mum. She’s managed by Top Coat.

Finland’s Pääkkönen is best known as Felix in Spike Lee’s BlacKkKlansman and Halfdan the Black in the History series Vikings. He was also in TV movie The Dark Tower, written by Stephen King and Glen Mazzara, Finnish thriller Omerta 6/12 and had a role in another Lee film, Da 5 Bloods. Pääkkönen is represented by Subtitle Talent and Range Media Partners.

“Though Japan and Finland are far apart, this project has revealed unexpected cultural harmony between the two,” said Tomomi Takashima, executive producer at Wowow. “With a powerful original story and an outstanding cast from both countries, it’s a unique and wonderful collaboration, and we’re thrilled to be partnering with Boat Rocker to bring this special series to audiences around the globe.”

Wowow is known for international co-productions such as HBO Max’s Tokyo Vice, another noir-style drama made with partners outside Japan that ran for two seasons.

Ilkka Hynninen, Creative Director of ICS Nordic added that Blood & Sweat was “a great example of how international IP from Finland and Japan can be successfully brought to the international market. Developed in collaboration with our Japanese partners, this project blends Finnish and Japanese sensibilities to create a unique and exciting experience that resonates with global audiences and sparks the imagination of world citizens.”

Hynninen, who founded ICS Nordic with Ilkka Rahkonen, have focused on making shows for the global market since launch in 2022 and recently finished an international version of comedy feature ISMO – Breaking Bad English.

Writer and director Toivonen told audiences to be “prepared for something you have never even imagined seeing before as we mix the Nordic Noir genre with Japanese aesthetics and characters.”

“With deep mystery, intrigue, and action, Blood & Sweat is sure to captivate international audiences thanks to the bold storytelling from our creative partners,” said Nantell, who is Executive Vice President, Head of Scripted Creative at Boat Rocker Studios. “This exciting new project further underscores our commitment to strategically invest in premium scripted co-productions we believe in,” added Boat Rocker’s Jon Rutherford, President of Global Rights, Franchise and Content Strategy.

Toronto-listed Boat Rocker, originally known for unscripted, now sells international scripted series such as Irish comedy-horror Video Nasty, buzzy Australian drama Mix Tape and upcoming BBC Scotland and Sky New Zealand drama The Ridge.

The company is in the process of being sold to Blue Ant Media in a reverse takeover, but Boat Rocker bosses Ivan Schneeberg, David Fortier and John Young have formed a new biz, IDJCo, to buy Boat Rocker Studios and their brand management and franchise management operations. Once the transaction is completed, their new company will be named Boat Rocker once again, as Blue Ant establishes a Toronto Stock Exchange-listed business, Blue Ant Media Corporation.

(MENAFN– Newsfile Corp)
Vancouver, British Columbia–(Newsfile Corp. – May 29, 2025) – Route 109 Resources Inc . (TSXV: RTE) (OTCQB: MRIRF) (FSE: 8M0) (“Route109” or the “Company”) is pleased to announce the intersection of 5.05 m of semi-massive to disseminated sulfides returning 1.03% Cu, 1.28 g/t Au, 4947 ppm Mo and 6.58 g/t Ag from 55.10 to 60.15 m in drill hole BD-25-37 located on its Dunlop Bay West showing (Figure 1), in Quebec, Canada. These intersections confirm the strong potential for the property to have a copper-gold-molybdenum-silver mineralized system which is atypical for the Matagami Camp.

These results are from the Company’s 2025 winter drilling program on Dunlop Bay (see press release on winter 2025 drill program) . The program focused on the northern part of the property and aimed to test various geophysical anomalies identified from historical mineralized drillhole intersections. Figure 1 below shows the location of targeted showings and drillhole collars.

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

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At Dunlop Bay West: Twelve short drill holes ranging between 75 and 270 m were drilled for a total of 1,671 m. Three of the most significant results are presented below:

BD-25-37 returned 5.05 m at 1.03% Cu, 1.28 g/t Au, 4,947 ppm Mo and 6.58 g/t Ag from 55.10 to 60.15 m followed by 2.75 m at 0.57% Cu, 0.96 g/t Au, 671 ppm Mo and 5.66 g/t Ag from 66.15 to 68.90 m.

BD-25-38 returned 2.15 m at 1.92% Cu, 1.36 g/t Au, 551 ppm Mo and 11.58 g/t Ag.

BD-25-39 returned 6.00 m at 0.41% Cu, 0.41 g/t Au, 137 ppm Mo and 5.55 g/t Ag.

Table 1 below summarizes the results of each drill holes made on the Dunlop Bay West showing.

Table 1: Drillholes results from Dunlop Bay West Zone.

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At Dunlop Bay North: Five holes were drilled into a new VMS discovery which will be designated as the “Clairet” Zone, a Pb-Zn-Ag mineralized zone. Two further holes were drilled at Dunlop Bay North eastern area for a total of 842 m. Best results a presented below:

BD-25-27 returned 5.55 m at 1.83% Zn, 0.27% Pb, 2.69 g/t Ag.

BD-25-28 returned 1.85 m at 2.29% Zn, 0.57 % Pb, 2.87 g/t Ag.

Table 2 below summarizes the assay results from Dunlop Bay North.

Robert Pryde, CEO of the company said: “The Dunlop Bay property continues to show significant potential for polymetallic mineralization. The 2025 exploration program results confirm the presence of a Cu-Au-Mo-Ag+/-Zn mineralized system. Our technical team is now confident of the presence of an atypical type of mineralized system within the immediate Matagami region. We are excited by the potential of the property and have engaged Laurentia Exploration to interpret these results in the context of the broader geological setting. I look forward to reporting back on their work. We plan to release the remainder of the 2025 exploration program results in the next few weeks.”

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

Table 2: Drillholes results from Dunlop Bay North Zone.

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Qualified Person

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

About Route 109 Resources Inc.

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

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

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

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

For further information please contact:

Route 109 Resources Inc.

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

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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

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

SOURCE: Route 109 Resources Inc.

MENAFN29052025004218003983ID1109610384

(MENAFN– Newsfile Corp)
Vancouver, Kelowna, and Delta, British Columbia–(Newsfile Corp. – May 29, 2025) – Investorideas , a global investor news source covering gold and silver stocks presents a mining snapshot highlighting news from silver miners, from expanded land packages to acquisitions, featuring Apollo Silver Corp . (TSXV: APGO) (OTCQB: APGOF) (FSE: 6ZF0).

Silver Stocks and the Land Grab for Silver Assets

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The Company is focused on advancing its portfolio of two prospective silver exploration and resource development projects, the Calico Project, in San Bernardino County, California, and its option on the Cinco de Mayo Project, in Chihuahua, Mexico.

With strong demand and a supply deficit since 2021, silver miners are actively acquiring land and developing projects to increase production and address the shortfall.

In line with the sector’s growth strategy, Apollo Silver Corp. (TSXV: APGO) (OTCQB: APGOF) (FSE: 6ZF0) recently announce it has acquired 2,215 hectares of highly prospective claims contiguous to its Waterloo property at its Calico Silver Project.

From the news:
The newly acquired claims, referred to as the Mule claims, comprise 415 lode mining claims and were acquired from LAC Exploration LLC, a wholly-owned subsidiary of Lithium Americas Corp. (TSX: LAC) (NYSE: LAC), which was the previous operator of the property. Preliminary mapping and sampling conducted by the previous operator of the Mule claims identified several high-grade silver targets, which will be evaluated as part of Apollo’s future exploration planning.

Additionally, a mapping and sampling program was recently completed at the Burcham gold prospect area in the southwest region of the Waterloo property (see news release dated February 12, 2025). This program confirmed the Calico fault system’s role in controlling silver (Ag) and gold (Au) mineralization in the area and identified potential for copper (Cu), zinc (Zn), and lead (Pb) mineralization associated with stratabound and manto lenses.

Highlights:

Mule claims expand the Calico Project land package by over 285%, from 1,194 hectares to 3,409 hectares of contiguous claims.

Mule claims trend along the mineralized Calico Fault System responsible for mineralization seen at Calico.

Reports from the prior operator indicate that there are several strongly anomalous silver values on the property, which Apollo will attempt to ground-truth in the coming exploration programs.

Sampling done across the Mule claims by previous operator has identified a large Ag anomaly associated with the same suite of host rocks at the Waterloo property.

Exploration at the Burcham prospect at Waterloo included assays from 27 surface samples:

Assay peaks up to 14.10 g/t Au, 20.70 g/t Ag, 0.17% Cu, 22.80% Zn and 5.74 % Pb from various samples.

Identification of strata-bound lenses and mantos that show strong potential for Cu, Zn and Pb mineralization.

Ross McElroy, President and CEO of Apollo commented, “The addition of the Mule claims substantially enhances the Calico Project. Calico already hosts three discrete drill-delineated zones with resource estimates along a 4-km-long trend within the Calico fault zone. The Mule claims increase the project’s land area by 2.5 times, strategically located to the east along this highly prospective mineralized corridor, offering significant potential for further discoveries. Apollo is committed to unlocking value in California for our shareholders.”

The Mule claims, comprising 415 lode mining claims administered by the Bureau of Land Management, feature a continuation of the mineralized Calico Fault System, as identified through mapping and sampling by the previous operator. The sedimentary rocks of the Barstow Formation, which hosts the Waterloo silver deposit and the volcanic Pickhandle Formation are prevalent across the acquired claims. The contact between the Barstow and Pickhandle Formations has demonstrated potential for gold mineralization, similar to that at Waterloo. Sampling across the Mule claims has identified several strong Ag and Au anomalies. Apollo plans to conduct a follow-up exploration program to develop exploration targets and delineate this highly prospective contact.

Earlier this month, Pan American Silver Corp. and MAG Silver Corp announced a definitive agreement for Pan American to acquire all issued and outstanding common shares of MAG through a plan of arrangement. MAG, a tier-one primary silver mining company, holds a 44% joint venture interest in the large-scale, high-grade Juanicipio mine, operated by Fresnillo plc, which holds the remaining 56% interest in the joint venture.

More from the news:
Under the terms of the transaction, MAG shareholders will receive total consideration of approximately $2.1 billion, equivalent to $20.54 per MAG share, based on the closing price of Pan American’s common shares on the New York Stock Exchange (NYSE) on May 9, 2025. The consideration comprises $500 million in cash and 0.755 Pan American shares per MAG share, subject to proration. This represents premiums of approximately 21% and 27% to the closing price and 20-day volume-weighted average price (VWAP) of MAG’s common shares on the NYSE American (NYSEAM) as of May 9, 2025. Upon completion, existing MAG shareholders will own approximately 14% of Pan American’s shares on a fully diluted basis, benefiting from participation in a larger, diversified, and growth-oriented silver and gold producer.

Michael Steinmann, President and CEO of Pan American commented: “Our acquisition of MAG brings into Pan American’s portfolio one of the best silver mines in the world. Juanicipio is a large-scale, high-grade, low-cost silver mine that will meaningfully increase Pan American’s exposure to high margin silver ounces. Furthermore, we see future growth opportunities through the significant exploration potential at Juanicipio as well as MAG’s Deer Trail and Larder properties. This strategic acquisition further solidifies Pan American as a leading Americas-focused silver producer. We would like to thank the Fresnillo and the Juanicipio management teams for the constructive interactions and impressive site visit. Together, we bring many decades of operator experience in Mexico and Latin America to the Joint Venture and we are looking forward to a collaborative future and value generation for all shareholders involved.”

George Paspalas, President and CEO of MAG commented, “This transaction represents a compelling opportunity for our shareholders, providing an immediate premium and meaningful exposure to Pan American’s world-class assets and proven growth strategy. We are proud of what we’ve accomplished at MAG, particularly our partnership with Fresnillo which has created extraordinary value at the exceptional Juanicipio mine. Through the acquisition of our interest by Pan American – a respected leader in the global precious metals industry – our shareholders will participate in an exciting future defined by operational excellence, substantial exploration potential, and strong financial stewardship with significant portfolio exposure.”

Dolly Varden Silver Corporation recently announced that, following its news release dated May 5, 2025, it has completed the acquisition of the Kinskuch Property in northwest British Columbia’s Golden Triangle.

From the news:
The Kinskuch Property is adjacent to the Company’s Kitsault Valley Project and dramatically increases the Kitsault Valley Project size to approximately 77,000 hectares, covering some of the most underexplored and prospective rocks for silver, gold and copper mineralization in the Golden Triangle.

Dolly Varden completed its acquisition of the Kinskuch Property from Hecla Mining Company for consideration of $5 million, which was satisfied by Dolly Varden issuing 1,351,963 common shares of the Company to Hecla. Hecla will also retain a 2% net smelter return royalty on the Kinskuch Property area (the “NSR”). The NSR will include a 50% buyback right, for $5 million, that will allow Dolly Varden to reduce the royalty to 1% at any time. As per an existing agreement between Dolly Varden and Hecla, Hecla will maintain a designated position on Dolly Varden’s Technical Committee, working together to unlock the potential of the underexplored areas.

The year began with a significant development for the sector when, in January, First Majestic Silver Corp. and Gatos Silver, Inc. announced the completion of First Majestic’s acquisition of Gatos Silver under the agreement and plan of merger, as detailed in their joint news release dated September 5, 2024.

More from the news:
On Tuesday, January 14, 2025, both First Majestic and Gatos Silver announced that they received all necessary shareholder approvals at the respective special meetings of each company’s shareholders. Approximately 98.44% of the votes cast at the special meeting of First Majestic’s shareholders were voted in favour and approximately 99.23% of the votes cast at the special meeting of Gatos Silver’s stockholders were voted in favour.

Under the terms of the Merger Agreement, First Majestic has acquired all of the issued and outstanding shares of common stock of Gatos Silver and Gatos Silver is now a wholly-owned subsidiary of First Majestic. Stockholders of Gatos Silver will receive 2.55 First Majestic common shares for each Gatos Silver Share held, and cash in lieu of fractional First Majestic Shares .

“With the closing of this transaction, First Majestic is integrating a high-quality, long-life, positive-free-cash-flow operation into our portfolio of producing mines in Mexico. Cerro Los Gatos is truly a world-class district with robust production and cost efficiency, combined with significant exploration potential,” said Keith Neumeyer, President and CEO. “Over the coming quarters, we will communicate our plans for Cerro Los Gatos, including strategies to realize synergies and integration throughout the business. I take this opportunity to personally welcome Gatos Silver shareholders into First Majestic as we create the industry’s leading intermediate primary silver producer. Finally, I welcome our joint venture partner, Dowa Metals and Mining, with whom we look forward to working closely at Cerro Los Gatos as a supportive and trusted partner.”

These acquisitions underscore the growing trend of land asset expansion and consolidation among silver miners.

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SOURCE: Econ Corp Services DBA Investorideas

MENAFN29052025004218003983ID1109610388

(MENAFN– Newsfile Corp)
Vancouver, British Columbia–(Newsfile Corp. – May 29, 2025) – South Pacific Metals Corp. (TSXV: SPMC) (OTCQB: SPMEF) (FSE: 6J00) (” SPMC ” or the ” Company “) is thrilled to announce the discovery of a highly prospective gold-copper surface mineralized system at the Ontenu NE target within its flagship Osena Project in Papua New Guinea, just one kilometre south of and geologically analogous to K92 Mining’s prolific Kainantu gold mine.

Highlights of the Discovery

Rock chip assays returning up to 10.3% copper (“Cu”), 3.1% Cu & 2.06% Cu, and 1.7 g/t gold (“Au”) at surface;

Multiple plus-500 metre gold-in-soil anomalies, with values peaking at 216 ppb Au , over a greater than 3 kilometre (“km”) mineralized corridor;

Newly mapped NW-SE striking high-sulphidation structures exhibit hallmark Kainantu-style pathfinders: Au-Cu + Ag-Bi-Te-Zn;

Phase 2 trenching underway at Ontenu Central ahead of drilling, with Trench 1 previously returning:

4 m @ 4.52 g/t Au, 0.13% Cu, 0.23% Zn

16 m @ 1.25 g/t Au

79 m @ 0.75 g/t Au, 981 ppm Cu

Company-owned diamond drill rig en route to site, with a priority drill campaign set to commence in June. The Ontenu prospects are located along strike in the Kainantu Transfer Zone adjacent to K92 Mining’s tenement. The broader Ontenu Gold-Copper Intrusive Complex is part of an interpreted multi-phase intrusive, large-scale gold-copper porphyry system spanning an area of at least 5 km by 3 km. Metal signatures (Au-Te-Bi) in soil and rock samples suggest a later gold-bearing event overprinting an earlier porphyry Cu-Au-Mo event, similar to those observed at other major deposits including K92 Mining’s Arakompa Project gold veins.

“These are among the most exciting surface results we’ve seen to date in this emerging district,” said Michael Murphy, Executive Chair . “To encounter double-digit copper and high-grade gold at surface-just steps from an operating mine-underscores Ontenu’s exceptional potential. With trenching underway and our drill rig landing next month, we’re entering a new phase of discovery.”

Figure 1. New structure, with proximal samples grading up to 10.3% Copper & 1.63g/t Au at Ontenu NE (arrow > 2 metres wide). Inset image right high-sulphide zone with chalcopyrite (CuFeS2).

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Figure 2. Regional image showing location of Ontenu Central and Ontenu NE

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Ontenu Northeast Surface Sampling Results

The Company conducted a focused surface exploration campaign at Ontenu Northeast from January to March 2025, following up on historical work by RGC Limited in the 1980s and more recent airborne Mobile MT and magnetic surveys (see news release dated October 16, 2024 ). This program involved grid-based soil sampling, reconnaissance rock sampling, and geological mapping to confirm the presence of mineralization and identify potential structural trends.

The Ontenu Northeast area spans approximately 2 km by 1.5 km and lies just 1 km from the high-priority Ontenu Central Copper-Gold Prospect. Previous trenching at Ontenu Central returned strong gold and copper mineralization, including 4 metres averaging 4.52 g/t Au and 0.13% Cu within a broader 79-metre interval grading 0.75 g/t Au and 981 ppm Cu (see news release dated August 27, 2024 ). The site is accessible via road and regional tracks.

The soil sampling grid was established on a 100 m by 100 m spacing, supported by targeted rock sampling and mapping. The results revealed several NE-SW trending gold-in-soil anomalies with values above 30 ppb Au and up to 216 ppb Au, often accompanied by Cu, Ag, Bi, Te, and Zn pathfinders. These features are interpreted as structurally controlled zones prospective for high-grade Au-Cu epithermal systems. Mapping also identified two significant NW-trending structures hosting extensive alteration halos, with mineralized zones up to 2 metres wide and rock chip assays grading up to 10.3% Cu and 1.26 g/t Au (see Appendix 1 for full results).

Figure 3. Soil grid Cu and rock samples – Ontenu NE Gold-Copper Prospect

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Figure 4. Soil Au and rock samples – Ontenu NE Gold-Copper Prospect

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Figure 5. Soil grid for gold and high-grade gold and copper rock samples from Ontenu Main to Ontenu NE on background apparent conductivity (mobile MT)

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Exploration Potential and Planning

These latest results confirm the presence of mineralization associated with a second geophysical target-defined by coincident apparent conductivity and magnetic anomalies-within the broader Ontenu Au-Cu Epithermal-Porphyry prospect area. This growing system is interpreted to host multiple overlapping deposit types, including: Epithermal intermediate sulfidation systems similar to those currently being by K92 Mining Ltd. at the nearby Kainantu Gold Mine;

Au-Bi-Te alkalic epithermal systems analogous to the world-class Porgera Gold Mine (Porgera JV/Barrick Gold Corporation); and

Ag-Pb-Zn rich low-sulfidation skarn associated with limestones and metasediments.

Based on these positive outcomes, the Company plans to return to Ontenu Northeast to complete additional rock sampling, detailed structural mapping, and site assessments for future drill targeting. The Company’s newly acquired diamond drill rig is scheduled to arrive in Papua New Guinea in June 2025, with initial drilling set to commence at Ontenu Central.

Phase 2 Trenching Program at Ontenu Central

The Ontenu Prospect continues to show compelling evidence of a large-scale, mineralized porphyry-epithermal system. As part of ongoing preparations for the upcoming drill program, the Company has launched a second phase of trenching designed to refine drill hole targeting and expand known mineralized zones:

The first of four new trenches has been partially completed, with 80 m excavated and sampled, of a proposed 230 m. All 80 samples collected have been submitted for assay. This trench is approximately 20 m north of Trench 1.

Excavation has commenced at both a westward extension of Trench 1 by 100 m, and a parallel trench ~25 m south of this (230 m length proposed). The trenches parallel to Trench 1 are designed to test the lateral extent of high-grade gold mineralization along strike.

A fourth trench will be initiated to the south, targeting a N-S structural feature associated with prior high-grade soil samples exhibiting a K92-style metal signature (Au-Bi-Te-Sn).

Additional rock sampling is also being conducted across the greater Ontenu area, where peripheral results include up to 2.69 g/t Au, 71.3 g/t Ag, 0.26% Cu, and 5.3% Zn.

Figure 6. Ontenu Central Trench Locations

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Additional regional rock sampling is underway across areas peripheral to Ontenu Central, where previous grab samples have returned up to 2.69 g/t Au, 71.3 g/t Ag, 0.26% Cu, and 5.3% Zn. These broader zones will be further evaluated for future trenching or drill testing.

Continued Exploration at the Anga Project

The Company is also advancing surface exploration at its nearby Anga Project. As announced on April 30, 2025 , four high-priority areas are being actively sampled, with the Irinke Prospect-located just 1,500 metres from K92 Mining’s processing plant and three kilometres along strike from the Arakompa discovery-emerging as a particularly prospective target potentially representing an extension of K92 Mining’s gold system.

About the Osena Project

Covering 738 km2 of strategic ground, the Osena Project is located southwest of and adjacent to K92’s tenements that host the Kainantu Gold Mine. Priority prospects include Ontenu, a large-scale cluster of five intrusive Copper-Gold porphyry, vein and skarn complex extending over 5 km x 3 km. Recent results from Ontenu Central confirm gold-bearing breccias and include a 79 m trench averaging 0.75 g/t Au, including 4 m at 4.52 g/t Au with a high up to 8.82 g/t Au. Historical rock samples targeted for follow-up include 73 g/t Au, 960 g/t Ag, 3.17% Cu & 10.6% Zn (in different locations). The Ontenu Prospect is one of many occurring within a highly mineralized corridor that extends more than 40 km northeast across the Kainantu District. More than half of the Osena Project tenure remains unexplored.

About South Pacific Metals Corp.

South Pacific Metals Corp is an emerging gold-copper exploration company operating in the heart of Papua New Guinea’s proven gold and copper production corridors. With an expansive 3,100 km2 land package and four transformative gold-copper projects contiguous with major producers K92 Mining, PanAust and neighbouring Barrick/Zijin, new leadership and experienced in-country teams are prioritizing thoughtful and rigorous technical programs focused on boots-on-the-ground exploration to prioritize discovery across its portfolio projects: Anga, Osena, Kili Teke, and May River.

Immediately flanking K92 Mining’s active drilling and gold producing operations to the northeast and southwest, SPMC’s Anga and Osena Projects are located within the high-grade Kainantu Gold District – each having the potential to host similar-style lode-gold and porphyry copper-gold mineralization as that present within K92’s tenements. Kili Teke is an advanced exploration project situated only 40 km from the world-class Porgera Gold Mine and hosts an existing Inferred Mineral Resource with multiple opportunities for expansion and further discovery. The May River Project is located adjacent to the world-renowned Frieda River copper-gold project, with historical drilling indicating potential for a significant, untapped-gold mineralized system. SPMC common shares are listed on the TSX Venture Exchange (TSX.V: SPMC), the OTCQB Marketplace (OTCQB: SPMEF) and Frankfurt Stock Exchange (FSE: 6J00).

Quality Assurance and Quality Control

Rock Sampling

Rock samples are selective and collected by a Company geologist in the field. Samples were sent to the ITS (PNG) Ltd (Intertek) Laboratory in Port Moresby. Gold assays were conducted using 30 g charge Fire Assay with Atomic Absorption Spectra finish (Intertek Code FA25/OES), with a detection limit of 0.01ppm. Samples >1 ppm (1 g/t) Au were re-assayed as a check with no significant difference noted.

Multi-element assays were determined using 4-acid digestion with Induced Coupled Optical Emission (ICPOS) (Intertek code 4A/OE33). Certified reference material, duplicates and blanks were inserted into the rock sample to monitor laboratory performance, with no significant variations from expected results.

Soil Sampling

Soil sampling involves sieving a c-horizon soil to a 2 mm in the field. Soil samples were sent to the ITS (PNG) Ltd (Intertek) Laboratory in Port Moresby for assay. Assaying for gold and other elements is determined by aqua regia digestion with a mass-spectrometry finish (Intertek code AR01/MS). Certified Reference Material, duplicates and blanks are inserted in the soil sample to monitor laboratory performance, with no significant variations from expected results.

Qualified Person

The scientific and technical information disclosed in this release has been compiled by Company geologists and reviewed and approved by Darren Holden, Ph.D., FAusIMM, a “Qualified Person” as defined under the Canadian Institute of Mining National Instrument 43-101 Standards of Disclosure for Mineral Projects. Dr. Holden is a Technical Advisor to the Company.

For further information please contact:

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