VANCOUVER, BC, Dec. 17, 2025 /PRNewswire/ - Trilogy Metals Inc. (NYSE American: TMQ) (TSX: TMQ) ("Trilogy Metals", "Trilogy" or "the Company") is pleased to announce the program and budget for Ambler Metals LLC, as well as the Company's corporate budget for 2026, reflecting a year focused on advancing the Ambler Mining District toward permitting, technical de-risking, and long-term development. All amounts are in US dollars. Ambler Metals LLC ("Ambler Metals"), the joint venture operating company equally ow ...

Group 1: Hong Kong Stocks - LeMo Technology (02539) surged nearly 17%, reaching a new high of 67.8 HKD, over 60% increase from the IPO price of 40 HKD [1] - Baixin An-B (02185) rose over 4% after announcing that its subsidiary completed the registration of the Iberis multi-polar renal artery radiofrequency ablation catheter system in New Zealand, the only product approved for both radial and femoral artery access for renal denervation [1] - Health Road (02587) increased over 2% as it announced plans to repurchase up to 100 million HKD of its shares in the open market, reflecting confidence in its business outlook [1] - Deutsche Bank Tianxia (02418) fell over 8% following a report that revealed 10 shareholders collectively held 98.9% of the company's issued H-shares, leaving only 1.1% for other investors [1] Group 2: Other Notable Stocks - Kailaiying (06821) rose nearly 2% as its Shanghai Fengxian commercial production base officially commenced operations, marking a significant upgrade in its biopharmaceutical CDMO capabilities [2] - Tianyu Semiconductor (02658) rebounded over 12% on its second day of trading, although still down 20% from its IPO price of 58 HKD [2] - Lithium stocks saw gains, with Ganfeng Lithium (01772) up 4.65%, Hongqiao Group (08137) up 2.15%, Tianqi Lithium (09696) up 3.29%, and CATL (03750) up 1.51% [2] - AAC Technologies (02018) rose nearly 2% after Alibaba launched its first self-developed flagship AI glasses, the Quark AI Glasses S1 [2] - Zhou Hei Ya (01458) increased over 5% as it announced the opening of its first overseas brand store in Malaysia on December 5, 2025 [2] Group 3: US Market Highlights - US mining stocks generally rose, with Albemarle (ALB.US) up 5.08% and MP Materials (MP.US) up 0.47%, amid reports of the US government planning to increase its stake in key mineral companies [5] - Paramount Skydance (PSKY.US) fell 9.82% after proposing a buyout of Warner Bros Discovery (WBD.US) at $30 per share, while Netflix (NFLX.US) offered $27.75 per share [5] - Intel (INTC.US) rose 2.25% after announcing it would retain its network and edge computing business, enhancing integration in AI and data center solutions [5] - Netflix (NFLX.US) dropped 2.89% while Warner Bros Discovery (WBD.US) rose 6.28% following Netflix's announcement of a $27.75 per share acquisition offer for Warner Bros [6] - Baidu (BIDU.US) increased by 5% as reports emerged that Kunlun Core is preparing for an IPO in Hong Kong, targeting early 2026 for its application [6]

这些交易包括：7月份宣布的以4亿美元换取MP Materials(MP.US)15%的股份；以6.7亿美元换取磁铁生 产商火神材料(VMC.US)的股份；以及以3560万美元换取加拿大矿产勘探公司Trilogy Metals(TMQ.US)10%的股份。特朗普政府在9月份宣布，将收购Lithium Americas(LAC.US)的股份，该公 司正在开发美国最大的锂矿床。此次收购是重组该公司与美国能源部之间22.3亿美元现有贷款协议的一 部分。 周五，美股矿业股普涨，美国雅保(ALB.US)涨8%，Trilogy Metals(TMQ.US)涨逾4%，MP Materials(MP.US)涨逾2%。消息面上，据报道，美国政府计划增持关键矿产公司的股权。国家能源主导 委员会执行主任贾罗德.阿根在华盛顿的一个论坛上表示。"前来洽谈的公司种类繁多，他们提出的理由 也很充分。" 据悉，过去一年，特朗普政府斥资超过10亿美元收购关键矿物和矿业公司的股份，这些投资往往推高了 相关公司的股价。 ...

Core Viewpoint - U.S. mining stocks experienced a broad rally, driven by government plans to increase stakes in key mineral companies, which has historically boosted stock prices [1] Group 1: Market Reaction - U.S. mining stocks saw significant gains, with Albemarle (ALB.US) rising by 8%, Trilogy Metals (TMQ.US) increasing by over 4%, and MP Materials (MP.US) up by over 2% [1] Group 2: Government Actions - The U.S. government has invested over $1 billion in acquiring stakes in key mineral and mining companies over the past year, which has led to increased stock prices for these companies [1] - Notable transactions include a $400 million investment for a 15% stake in MP Materials (MP.US), a $670 million investment in magnet producer VMC (VMC.US), and a $35.6 million investment for a 10% stake in Trilogy Metals (TMQ.US) [1] - In September, the government announced plans to acquire shares in Lithium Americas (LAC.US), which is developing the largest lithium deposit in the U.S., as part of a restructuring of a $2.23 billion existing loan agreement with the Department of Energy [1]

智通财经APP获悉，周五，美股矿业股普涨，美国雅保(ALB.US)涨8%，Trilogy Metals (TMQ.US)涨逾 4%，MP Materials (MP.US)涨逾2%。消息面上，据报道，美国政府计划增持关键矿产公司的股权。国家 能源主导委员会执行主任贾罗德·阿根在华盛顿的一个论坛上表示。"前来洽谈的公司种类繁多，他们提 出的理由也很充分。" 据悉，过去一年，特朗普政府斥资超过10亿美元收购关键矿物和矿业公司的股份，这些投资往往推高了 相关公司的股价。 这些交易包括：7月份宣布的以4亿美元换取MP Materials (MP.US)15%的股份；以6.7亿美元换取磁铁生 产商火神材料(VMC.US)的股份；以及以3560万美元换取加拿大矿产勘探公司Trilogy Metals (TMQ.US)10%的股份。特朗普政府在9月份宣布，将收购Lithium Americas (LAC.US)的股份，该公司正 在开发美国最大的锂矿床。此次收购是重组该公司与美国能源部之间22.3亿美元现有贷款协议的一部 分。 ...

过去一年中，美国政府已投入超过10亿美元，入股多家关键矿产与采矿企业，涉及稀有金属、电池材料 以及高性能磁体等相关领域。这些交易包括以4亿美元取得MP Materials(MP.US)15%股权、以6.7亿美元 入股磁体制造商火神材料(VMC.US)，以及以3,560万美元取得加拿大矿业公司Trilogy Metals(TMQ.US)10%股权。此外，政府也在9月宣布入股Lithium Americas(LAC.US)，以协助重组其与能 源部之间的一笔大型贷款。 智通财经APP获悉，美国白宫官员周四表示，政府计划进一步收购关键矿产企业的股权，这一过去并不 常见的做法正在成为推动供应链安全与科技产业发展的新工具。由于这些矿产在半导体、医疗设备、工 业制造以及清洁能源技术中具有重要地位，美国认为有必要确保长期、稳定且可控的供应来源。 美国国家能源主导委员会执行主任Jarrod Agen在华盛顿的一场论坛上表示，越来越多矿产和材料企业主 动寻求与政府合作，推动美国在全球关键资源竞争中建立更稳固的产业基础。他指出，这类投资未来将 更为普遍，企业也能从政府背书中获得更高信心。 在关键矿产需求不断增长的背景下，美国政府与 ...

Core Insights - Trilogy Metals Inc. (TMQ) is maintaining financial discipline while advancing the Upper Kobuk Mineral Projects through its joint venture, Ambler Metals LLC, with expenditures of approximately $3.8 million for the first nine months of fiscal 2025 [1] - The company's financial exposure remains controlled, recording only $2.2 million as its share of Ambler Metals' loss, reflecting a disciplined capital approach [2] - Ambler Metals' spending was slightly under the planned budget of $4.0 million due to delayed hiring and lower administrative costs, allowing for continued community engagement and core project activities [3][2] Financial Performance - Trilogy's shares have surged 228.1% over the past year, significantly outperforming the industry's growth of 12.2% [6] - The company is trading at a forward price-to-earnings ratio of negative 197.28X, compared to the industry's average of 14.72X, indicating a lower valuation score [9] Peer Comparison - NioCorp Developments Ltd. is advancing its Elk Creek Project, completing its first drilling program on schedule and within budget, and is launching a second phase to improve resource quality [4] - Barrick Mining Corporation is making high-return investments in the Americas, with several growth projects progressing on schedule and within budget [5]

Core Insights - Trilogy Metals Inc. (TMQ) and NioCorp Developments Ltd. (NB) are both active in the mining sector, focusing on mineral and metal exploration primarily in North America [1][2] - Both companies are benefiting from the increasing demand for minerals in electric vehicles and renewable energy markets, as well as advancements in technologies like AI and automation [2] Trilogy Metals - Trilogy Metals is concentrating on its Ambler mining district project in Alaska, which is currently in the pre-production exploration stage [3] - The company has successfully completed its summer field program at the Bornite camp, which included environmental data collection and maintenance activities [4] - For the first nine months of fiscal 2025, Trilogy incurred costs of $3.8 million related to ongoing programs, with its share of the loss being approximately $2.2 million, indicating controlled spending [5] - The company's progress in the Ambler mining district positions it for significant transformation and long-term growth [6] - Trilogy Metals shares have surged 168.5% in the past three months, significantly outperforming NioCorp [11][13] NioCorp Developments - NioCorp is advancing its Elk Creek Project in Nebraska, which aims to produce niobium, scandium, titanium, and rare earth elements essential for electric vehicles and clean energy [7] - The company is working on drilling programs to enhance resource estimates and feasibility studies, facilitating the project's transition to commercial operations [8] - NioCorp raised approximately $60 million through public offerings in September 2025 to support its progress and is seeking additional funding, including a loan from the U.S. Export-Import Bank [9][12] - The acquisition of additional land in Johnson County allows NioCorp to host its planned underground mine and processing facility [10] - NioCorp's stock has risen 17.5% over the past three months, but it requires about $1.1 billion in funding to move the Elk Creek project into production [12][13] Financial Estimates - The Zacks Consensus Estimate for TMQ's fiscal 2025 bottom line is a loss of four cents per share, reflecting a 20% year-over-year increase [15] - For NB, the fiscal 2026 bottom line is estimated at a loss of 28 cents per share, also indicating a 20% year-over-year increase [16] Valuation - TMQ is trading at a trailing 12-month price-to-earnings ratio of negative 85.40X, significantly below its three-year median of negative 8.78X [18] - NioCorp's trailing earnings multiple is negative 12.96X, lower than its median of negative 3.04X over the same period [18] Conclusion - NioCorp is positioned to meet the growing demand for critical minerals but faces challenges in securing substantial funding for its Elk Creek project [19] - Trilogy Metals is making steady progress at the Ambler mining district with disciplined spending, enhancing investor confidence [20] - Based on current factors, TMQ appears to be a more favorable investment compared to NB, with TMQ holding a Zacks Rank 2 (Buy) and NB a Zacks Rank 3 (Hold) [21]

Core Insights - Trilogy Metals Inc. (TMQ) shares have increased by 243.1% year-to-date, outperforming the industry and the S&P 500, which returned 23.8% and 16% respectively [1] - Peers such as B2Gold Corp. (BTG) and Barrick Mining Corporation (B) have seen gains of 63.5% and 138.4% respectively during the same period [1] Stock Performance - TMQ closed at $3.98, significantly below its 52-week high of $11.29 but above its 52-week low of $0.09 [4] - The stock is trading below its 50-day moving average and above its 200-day moving average [4] Exploration and Development - TMQ is making progress in the Ambler mining district, with a joint venture with South32 completing its summer field program [6][8] - The summer field program included site maintenance, environmental data collection, and a core re-boxing program for future use [9] Financial Performance - For the first nine months of fiscal 2025, Ambler Metals recorded approximately $3.8 million in costs, with TMQ's share of the loss being approximately $2.2 million [10] - The company reported an operating cash outflow of $2.7 million during the same period [11] Valuation Metrics - TMQ is trading at a forward price-to-earnings ratio of negative 194.21X, compared to the industry's average of 16.09X [16] - B2Gold and Barrick Mining are trading at 5.22X and 11.78X respectively [16] Long-Term Prospects - Despite ongoing challenges such as negative cash flows, the advancement in the Ambler mining district positions TMQ for potential future growth [17] - The company is seen as well-positioned for long-term growth opportunities, making it an attractive option for investors [17]

Core Insights - Trilogy Metals Inc. (TMQ) is making steady progress in the Ambler mining district through its joint venture with Ambler Metals LLC, which is partnered with South32 Limited [1][8] - The company has maintained disciplined spending, recording approximately $3.8 million in costs for ongoing programs in the first nine months of fiscal 2025, with Trilogy's share of the loss being about $2.2 million [3][8] - The advancement of the Ambler mining district positions Trilogy for potential significant transformation and growth in the long run [4] Company Developments - Ambler Metals completed its summer field program at the Bornite camp safely and on schedule, which included site maintenance, environmental data collection, and a core re-boxing program [2][8] - Trilogy's share of Ambler Metals' loss reflects a controlled development burn rate while advancing the project [3][8] Peer Comparison - B2Gold Corp. (BTG) is expected to benefit from increased gold production at its Fekola mine in 2025, driven by its strategy to maximize profitable mine production [5] - Barrick Mining Corporation (B) is focusing on high-return investments, particularly in Nevada, but may face lower gold production in 2025 due to operational issues [6] Financial Performance - Trilogy's shares have surged 290.4% over the past year, significantly outperforming the industry growth of 13.1% [7] - The company is currently trading at a forward price-to-earnings ratio of negative 194.99X, compared to the industry's average of 16.03X, indicating a challenging valuation [9]