Core Viewpoint - Kodiak Copper has made significant progress in 2025, achieving a maiden mineral resource estimate for its MPD property, resulting in a 205% increase in share price over the past year [3][32]. Company Developments - The company is currently focused on resource expansion for 2026, utilizing data from previous drilling campaigns and planning future exploration [4][12]. - Kodiak Copper reported a total of seven deposits in its resource estimate, with four announced in June and three in December [5]. - The maiden mineral resource estimate (MRE) includes 82.9 million tonnes of Indicated resources grading 0.39% Cu Eq and 356.3 million tonnes of Inferred resources grading 0.32% Cu Eq, totaling 2.408 billion pounds of copper and 1.67 million ounces of gold [8][9]. Resource Potential - The MPD Project features deposits with shallow mineralization and favorable geometry, which are expected to support low strip ratios in future evaluations [7]. - All deposits remain open for expansion, with ongoing exploration aimed at both expanding known zones and discovering new targets [12][14]. - The company has identified approximately 20 targets on the property, indicating strong potential for further discoveries [14]. Market Context - The copper market is experiencing significant demand, driven by electrification and decarbonization trends, with copper prices rising 42% and gold prices increasing 64% in 2025 [22][21]. - Supply constraints are evident, with a projected copper market deficit of 590,000 tons in 2026, highlighting the importance of new copper projects [30][25]. - Recent mine disruptions have underscored the volatility of the copper market, further emphasizing the need for new discoveries [26]. Financial Position - Kodiak Copper has maintained a low share count of 95.1 million shares, resulting in a market capitalization of approximately CAD$91.9 million [19][34]. - The conservative estimates used in the MRE could lead to an increase in resource value as commodity prices rise, with current market prices for gold and copper significantly higher than those used in the estimates [16][17].

Core Viewpoint - NexMetals Mining Corp. is positioned to accelerate resource growth and advance its Selebi and Selkirk projects in Botswana in 2026, following successful developments in 2025 [1][5]. Achievements in 2025 – Setting the Foundation for Growth - The company secured unencumbered title to the Selebi and Selkirk assets in Botswana after completing a milestone payment [5]. - A strengthened balance sheet was achieved through strategic financings to support exploration and development [5]. - The drill program advanced to target the two-kilometer gap between the Selebi Main and Selebi North deposits [5]. - Surface and underground exploration drilling expanded the mineralized footprint and improved geological understanding [5]. - Successful bench-scale testing of metallurgical flowsheets demonstrated the potential for producing high-grade, saleable copper and nickel cobalt concentrates [5]. 2026 Strategy Highlights – Moving Toward Economic Studies - The company plans to complete a Mineral Resource Estimate (MRE) update in H1 2026 and a Preliminary Economic Assessment (PEA) in H2 2026 [5][8]. - The Selebi Main surface drilling program will involve approximately 30,000 meters of drilling targeting resource expansion [5][8]. - Ongoing metallurgical testing aims to refine and optimize the metallurgical flowsheet for Selebi Mine material [5][8]. - The company expects a steady flow of technical results throughout 2026, which will significantly advance the projects [7]. Selkirk Mine – What to Expect in H1 2026 - The metallurgical drill program at Selkirk has been successfully completed, supporting resource modeling and future economic studies [5]. - The drill core resampling program at Selkirk was completed, which is essential for the upcoming MRE update [5]. - Assay results from exploration drilling and soil sampling programs are anticipated to provide further insights into resource potential [5].

Core Viewpoint - Viva Gold Corp is advancing its 100% owned Tonopah project into feasibility work while aiming to increase gold and silver mineral resources at the site [1][2]. Project Development - The Tonopah Gold Project is recognized as one of the most advanced undeveloped gold projects in Nevada, with a focus on rapidly advancing through pre-feasibility and feasibility studies in 2026 [2]. - A Preliminary Economic Analysis (PEA) published in 2025 identified areas for improving project economics and guiding the feasibility study program [2]. - The existing pit confined resource at Tonopah contains 86% measured and indicated material, indicating a high confidence level in the mineral resource [2]. Initial Work Programs - Initial work programs for 2026 include submitting a proposed work plan for up to 23 drill locations to infill high-grade inferred mineralization and validate existing drilling in the Midway Hills prospect area [3]. - Drilling is expected to commence in February, with a focus on converting inferred mineralization to measured and indicated material [3]. - Bottle roll tests are underway to assess heap leach gold recovery potential for low-grade gold mineralization, which could reduce capital and operating costs [3]. Engineering and Environmental Studies - The company is developing scopes of work and engaging with engineering firms for pre-feasibility and feasibility evaluations, focusing on accelerated development of high-grade mineralization [3]. - Geotechnical and hydrological studies are being solicited to optimize pit slope angles and support feasibility studies [4]. Exploration Opportunities - A third-party independent review of historical exploration data identified seven areas for further exploration, including the Midway Hills area, which has not been followed up since partial drilling in the 1980s [4]. - A geophysical company has been contracted to conduct an additional 14,000 meters of CSAMT geophysical survey to better define identified targets [4]. Company Overview - Viva Gold Corp controls a significant land position in the Walker Lane Trend in Western Nevada and has developed a high confidence level gold mineral resource [5]. - The company is committed to environmentally and socially responsible development of the Tonopah Gold Project [5]. - The management team, led by CEO James Hesketh, has extensive experience in mining and project development [6][7].

Core Viewpoint - American Tungsten Corp. is advancing its underground drill program at the IMA mine, having completed 2,120 feet of drilling across six holes, with a focus on resource expansion and becoming the first tungsten producer in the United States [1][3]. Drill Program Highlights - The initial drillholes at the IMA Project are intersecting the vein system along the strike of historical resources, reinforcing the geological model [3]. - The Phase 1 drill program targets five priority exploration areas, including the No. 5 and No. 7 Vein systems, aiming to delineate historically identified tungsten vein systems by the end of Q1 2026 [5]. Drilling Progress - Drilling has intersected quartz veins with hubnerite mineralization over an area of 400 feet along strike and 250 feet up-dip from the D-level [7]. - An additional 3,850 feet of drilling is planned across nine holes from the second and third D-Level drilling stations as part of the Phase 1 Program [7]. IMA Mine Overview - The IMA Mine is a past-producing underground tungsten mine located in East Central Idaho, which produced approximately 199,449 MTUs of WO3 between 1945 and 1957 [4]. - The company is currently assessing the potential for re-starting underground tungsten mining operations at the IMA Mine [4]. Company Background - American Tungsten Corp. is focused on high-potential tungsten and magnetite assets in North America, with the IMA Mine Project being a historic and high-quality property on private-patented land [15]. - The company holds an exclusive option to acquire full ownership of the IMA Mine, subject to a 2% royalty, and has expanded its land position with 113 additional federal claims covering nearly 2,000 acres [15].

Core Viewpoint - Silver X Mining Corp. reported strong operational results for the fourth quarter of 2025, highlighting significant growth in production and throughput at its Nueva Recuperada property in Peru, which positions the company for sustained production growth and value creation [3][10]. Production Highlights - Processed tonnage increased to 41,635 tonnes in 4Q25, up 24% from 33,505 tonnes in 3Q25 [8]. - Silver equivalent ounces ("AgEq") processed rose to 266,995 oz in 4Q25, a 17% increase from 227,315 oz in 3Q25, driven by higher throughput while maintaining consistent head grades [8]. - Gold production increased to 667 ounces in 4Q25, representing a 67% quarter-over-quarter increase from 398 ounces in 3Q25 [8]. - Average silver prices in 4Q25 were approximately US$55/oz, up from US$40/oz in 3Q25, indicating operational stability despite higher prices [8][6]. Strategic Initiatives - The company is advancing a 40,000-meter drilling program and developing new mining fronts to support both near-term production growth and long-term resource expansion [4][3]. - Continued investment in underground development and improved operational coordination are expected to facilitate further production growth in upcoming quarters [3]. Future Outlook - Silver X aims to scale production at the Tangana Mining Unit and plans to restart the Plata Mine, targeting approximately 6 million AgEq ounces annually by 2029 [10].

Expanded Phase 2 (EP2) Overview - The Expanded Phase 2 (EP2) project aims to add a 13 Mtpa plant to achieve a total throughput of 21 Mtpa by the end of 2028[9] - The capital cost for EP2 is estimated at $144 billion[11] - The project targets over 500,000 ounces of annual gold production for the first 10 full years[13] - Phase 1A aims to increase plant design throughput from 6 Mtpa to 8 Mtpa by the end of 2026, with a capital cost of $110 million[9, 11] Production and Cost Guidance - The project anticipates annual average gold production of 500,000-525,000 ounces for the first 10 full years (2029-2038)[14] - Annual average silver production is projected at 2,000,000-2,500,000 ounces for the first 10 full years (2029-2038)[14] - All-in sustaining costs (AISC) are estimated at $1,000-$1,100 per ounce of gold for the first 10 full years[14] Project Execution and Benefits - Front-end engineering and design for EP2 were completed in December 2025, with advanced planning for early works and construction[30] - The EP2 processing plant will be a separate facility adjacent to the Phase 1 processing plant, minimizing disruption to current operations[22] - The project is expected to create approximately 1,200 direct employee and contractor positions for operations, plus around 1,500 employees and contractors during construction[41]

Core Viewpoint - Newcore Gold Ltd. has reported positive drill results from its ongoing 45,000-metre drill program at the Enchi Gold Project in Ghana, indicating strong continuity of gold mineralization and potential for resource expansion at the Boin Gold Deposit [1][4][10]. Drilling Results - The recent drilling at the Boin Gold Deposit included multiple intersections of near-surface gold mineralization, with notable results such as hole KBRC370 intersecting 3.16 grams per tonne gold over 3.0 metres and hole KBRC368 intersecting 0.78 g/t Au over 16.0 metres, including a higher-grade interval of 8.17 g/t Au over 1.0 metre [1][5][6]. - A total of 6 reverse circulation (RC) holes were reported, totaling 550 metres, with all holes intersecting gold mineralization, and approximately 98.7% of the 237 holes drilled in the ongoing program have intersected gold [4][6][10]. Drill Program Phases - The drill program is in its second phase, focusing on resource growth and infill drilling to convert Inferred Resources to Indicated, with the first phase completed and results being prepared for a Pre-Feasibility Study expected in early 2026 [3][4][10]. - The second phase will also include diamond drilling to target higher-grade potential at depth, with initial results anticipated in early 2026 [4][10]. Resource Estimates - The Boin Gold Deposit has an Indicated Mineral Resource of 13.0 million tonnes grading 0.62 g/t Au, containing 258,200 ounces, and an Inferred Mineral Resource of 15.9 million tonnes grading 0.68 g/t Au, containing 349,600 ounces [12][16]. - The overall Enchi Gold Project hosts an Indicated Mineral Resource of 41.7 million tonnes grading 0.55 g/t Au, containing 743,500 ounces, and an Inferred Mineral Resource of 46.6 million tonnes grading 0.65 g/t Au, containing 972,000 ounces [16]. Development Activities - In addition to drilling, the company is conducting various development activities in support of the Pre-Feasibility Study, including metallurgical testwork, hydrogeological testing, geotechnical work, and environmental assessments [11][19].

Summary of Americas Gold and Silver Conference Call Company Overview - **Company**: Americas Gold and Silver (NYSEAM:USAS) - **Event**: Crescent Silver Acquisition Conference Call - **Date**: November 13, 2025 Key Points Industry and Acquisition Details - The acquisition involves the **Crescent Mine**, located in **Idaho Silver Valley**, just **9 miles** from the **Galena mill** [4][8] - The mine has a **high-grade silver-copper resource** of approximately **23 million ounces**, grading **655 grams per tonne** [5][10] - The acquisition is valued at approximately **$65 million**, consisting of **$20 million in cash** and **11.1 million common shares** of Americas Gold and Silver [6] Strategic Importance - The acquisition is described as **highly strategic**, providing immediate mill feed to the Galena mill and enhancing operational synergies [4][9] - The Crescent Mine is fully permitted and can restart operations quickly, with production expected to begin as soon as **mid-2026** [5][6] Financial and Operational Synergies - The Galena complex has a milling capacity of **1,500 short tons per day**, with current utilization at just under **410 short tons per day** [12][13] - The acquisition will allow the company to utilize **spare milling capacity**, which is currently underutilized, to process ore from Crescent [12][14] - The management team is confident that the Crescent Mine can contribute significantly to the company's growth, potentially reaching **2 million ounces per year** in production [22][29] Mining Methods and Infrastructure - The Crescent Mine will employ **long-hole stoping**, a method that has been successful at Galena [18][30] - The mine has three adits (Countess, Big Creek, and Hooper) that will be connected to facilitate efficient ore movement [28][30] - The company plans to implement infrastructure improvements, including **Alimak raises**, to enhance access and production capabilities [28][29] Exploration Potential - There is significant exploration upside, with only **5% of the private land** drilled, indicating potential for resource expansion [29] - The management team is optimistic about extending the existing veins and increasing grades through further drilling [20][29] Market Context - The company is positioned in a favorable market for silver, copper, and antimony, with plans to capitalize on these commodities [36] - The management emphasizes the importance of the acquisition in the context of the current strong silver market [36] Closing Remarks - The management expresses excitement about the future growth trajectory of Americas Gold and Silver following the acquisition [36] - The call concludes with gratitude towards shareholders and stakeholders for their support [36][37]

Core Viewpoint - Osisko Metals has announced new drill results from the Gaspé Copper Project, confirming and expanding the resource model with significant copper and molybdenum mineralization, particularly in the southern extension of the deposit [1][2][29]. Summary by Category Drill Results - The latest drilling results include 33 mineralized intercepts from nine new drill holes, with infill intercepts aimed at upgrading inferred resources and expansion intercepts potentially leading to additional resources [5][8]. - Notable drill holes include: - **30-1107**: 592.0 metres averaging 0.33% Cu (0.46 CuEq) [9] - **30-1112**: 868.5 metres averaging 0.23% Cu (0.30 CuEq) [9] - **30-1114**: 142.1 metres averaging 0.39% Cu (0.47 CuEq) [9] - **30-1116**: 565.5 metres averaging 0.22% Cu (0.29 CuEq) [9] - **30-1119**: 46.4 metres averaging 1.10% Cu (1.25 CuEq) [9] Market Context - The copper spot price is nearing US$5/lb, silver at US$47/oz, and molybdenum over US$30/lb, indicating a favorable market environment for the project [2]. Resource Expansion - The current drill program aims to convert the November 2024 Mineral Resource Estimate (MRE) to Measured and Indicated categories and test for deeper and lateral expansions towards Needle East and Needle Mountain [21][29]. - The Gaspé Copper project hosts the largest undeveloped copper resource in eastern North America, with current Indicated Mineral Resources of 824 million tonnes averaging 0.34% CuEq and Inferred Mineral Resources of 670 million tonnes averaging 0.38% CuEq [29][30]. Geological Insights - Mineralization at Gaspé Copper is characterized as porphyry copper/skarn type, with significant stockwork mineralization and high molybdenum grades observed in certain zones [18][19].

Core Viewpoint - Argenta Silver has announced promising assay results from its El Quevar Project, indicating high-grade silver mineralization and plans for an extensive drilling program to further explore and expand resources [1][3][6]. Company Overview - Argenta Silver acquired the El Quevar project for USD 3.5 million in October 2024, following the previous operator's asset sales due to liquidity issues [2]. - The company currently has a market capitalization of CND $169 million [2]. - Year-to-date, silver prices have increased by 62%, rising from USD $29 per ounce to USD $47 per ounce [2]. - Argenta's share price has surged by 310% over the past year, from USD $0.21 to USD $0.65 [2]. Recent Developments - The latest assay results confirm high-grade silver intervals, including 694 g/t over 2.1 meters at the Yaxtché Deposit and 204 g/t over 2.00 meters at the Mani exploration target [3][12]. - The company is fully funded with a treasury of C$23 million and is set to commence the 2025–2026 Drill Program at El Quevar [5][18]. - The upcoming drilling campaign aims to cover 12,000 to 15,000 meters and is scheduled to start on November 1, 2025 [18]. Drilling Objectives - The 2025 Winter Drilling Program had three main objectives: confirming known high-grade zones, stepping out along strike, and testing new targets [9]. - Historical drilling has primarily focused on the resource area, with only 3% of the property explored, indicating significant potential for new discoveries [20]. Exploration Insights - Recent drilling has confirmed the presence of multiple silver and gold mineralization intervals, enhancing the geological model for the Yaxtché Deposit [10][11]. - The exploration drillhole QVD-418 has shown anomalous silver results, suggesting mineralization extends to new targets [11]. - The company plans to allocate 40% of capital to resource expansion and 60% to aggressive exploration outside the known resource area [21][20]. Industry Context - The El Quevar project is located in Salta Province, Argentina, which was voted as Latin America's top mining jurisdiction by The Fraser Institute in 2024 [15]. - The provincial government has initiated a Sustainable Mining Development Plan for 2030, aimed at enhancing infrastructure and supporting the mining industry [16].