Group 1: Company Developments - Fortuna Mining Corp. submitted an application for an exploitation permit for the Diamba Sud gold project on February 4, 2026, and is advancing early works and engineering at the site [2] - The company plans to publish an updated Mineral Resource estimate for Diamba Sud by the end of February 2026, which will support the feasibility study and a potential construction decision targeted for mid-2026 [2] - A Preliminary Economic Assessment completed in October 2025 demonstrated robust project economics for the Diamba Sud project [2] Group 2: Market Analysis and Forecasts - CIBC upgraded Fortuna Mining Corp. to Neutral from Underperformer on February 4, 2026, raising its price target to C$16 from C$9 [3] - The firm raised its gold price forecast to $6,000 per ounce in 2026, $6,500 per ounce in 2027, and $6,000 per ounce in 2028, citing sustained demand drivers and geopolitical uncertainty [3] Group 3: Company Overview - Fortuna Mining Corp. is engaged in precious and base metal mining with operations in multiple countries including Argentina, Burkina Faso, Côte d'Ivoire, Mexico, Peru, and Senegal [4] - The company operates several mines, including the Lindero gold mine, Yaramoko gold mine, Séguéla gold mine, San Jose silver-gold mine, and Caylloma silver, lead, and zinc mine [4]

David Grondin, CEO of TomaGold, commented: "Drill hole TOM-25-015, grading 5.75% ZnEq (1.34 g/t AuEq) over 98.5 m, is truly transforming the Berrigan Mine project and highlights a new semi-massive sulfide zone that extends at depth beneath the known zones. This very encouraging result suggests the presence of a large mineralized system that remains open at depth.†Jean Lafleur, P.Geo., VP Exploration at TomaGold, added: "The concept of a new deep mineralized zone is not new in Abitibi, where mineralization ...

Core Viewpoint - TomaGold Corporation plans to conduct a non-brokered private placement to raise up to $250,000 through the issuance of flow-through common shares at a price of $0.065 per share, subject to TSX Venture Exchange approval [1]. Group 1: Private Placement Details - The offering will consist of up to 3,846,154 common shares issued on a flow-through basis [1]. - The gross proceeds from the sale of the flow-through shares will be used for exploration expenses that qualify as Canadian exploration expenses under the Income Tax Act [2]. - The securities issued will be subject to a hold period of four months and one day under Canadian securities laws [3]. Group 2: Company Overview - TomaGold Corp. is a Canadian junior mining company focused on acquiring, exploring, and developing precious and base metal projects, primarily in gold and copper [5]. - The company's core assets are located in the Chibougamau Mining Camp in northern Quebec, including the Obalski gold-copper-silver project and options on 12 additional properties [5]. - TomaGold also holds a 24.5% joint venture interest in the Baird gold property near the Red Lake Mining Camp in Ontario, along with lithium and rare earth element projects in the James Bay region [5].

Core Insights - TomaGold Corporation announced initial assay results from drill holes TOM-25-009 and TOM-25-010 at the Berrigan Mine project, confirming high-grade gold-bearing polymetallic vein systems within an extensive mineralized envelope [1][2] - The drilling campaign aims to test historical mineralized structures and explore new potential mineralization at depth, with a total of seven holes planned for 3,098 meters [1][2] Company Developments - CEO David Grondin highlighted a significant 39% ZnEq intersection in hole TOM-25-009, reinforcing geological understanding of the Berrigan Mine project [2] - The company is advancing a comprehensive litho-structural and geophysical compilation for its Chibougamau mining camp projects, utilizing AI modeling to refine targeting for upcoming exploration campaigns [2] - Additional geophysical work has been completed to enhance gold and polymetallic targeting for the winter 2026 exploration campaign [2] Drilling Results - The mineralization at Berrigan Mine is primarily associated with carbonatized ultramafic rocks, with low-grade halos identified in visually non-mineralized samples, increasing the potential volume of the mineralized envelope [2] - A borehole EM survey is being conducted to guide future deep drilling, ensuring comprehensive analysis of previously unsampled sections [2] Future Plans - Next steps include receiving assay results in January 2026 for five additional holes, integrating EM and core assay data into the resource model, and planning a field exploration program [3] - Phase 2 drilling will be planned following the compilation of Phase 1 drilling and geophysical data [3] Project Background - The Berrigan Mine property consists of 16 claims totaling 483 hectares, located 4 km north-northwest of Chibougamau, with TomaGold having an option to acquire 100% of the property [7] - Historical estimates indicate 1,388,915 tonnes of material grading 3.17% Zn and 1.77 g/t Au on the main Berrigan Mine zone, although these estimates are not classified as current mineral resources [8][9]

Core Points - TomaGold Corporation has successfully closed the second and final tranche of its non-brokered private placement, raising total proceeds of $1,007,000, bringing the aggregate proceeds to $2,112,000 [1][2] Group 1: Private Placement Details - The Final Tranche involved the issuance of 11,690,000 oversubscribed common shares at $0.05 per share and 10,562,500 units at $0.04 per unit, with each unit consisting of one common share and one-half of a share purchase warrant [2] - Each warrant allows the holder to purchase an additional share at $0.08 for a period of 24 months from issuance [2] - TomaGold paid cash finder's fees of $25,305 and issued 520,130 finder's compensation warrants, each entitling the holder to purchase one share at $0.08 for 24 months [3] Group 2: Use of Proceeds - The net proceeds from the sale of the units will be used for general and corporate working capital purposes, with no specific use exceeding 10% of the gross proceeds [4] - The gross proceeds from the sale of the flow-through shares will be allocated to eligible Canadian exploration expenses related to critical mineral mining [4] Group 3: Company Overview - TomaGold Corp. is a Canadian junior mining company focused on acquiring, exploring, and developing precious and base metal projects, primarily in Quebec and Ontario [6] - The company's core assets include the Obalski gold-copper-silver project and options to acquire 12 additional properties, including the Berrigan Mine and others [6] - TomaGold also holds a 24.5% joint venture interest in the Baird gold property and has lithium and rare earth element projects in the James Bay region [6]

Group 1 - Excellon Resources Inc. has granted 4,600,000 stock options to its directors and officers under its Share Incentive Plan, with an exercise price of $0.38 per share for three years [1] - The stock options will vest in increments of one-quarter immediately and one-quarter at 6, 12, and 18 months from the grant date [1] Group 2 - Excellon is focused on the potential restart of the Mallay Silver Mine in Peru, alongside a portfolio of exploration-stage projects including Tres Cerros Gold/Silver in Peru, Kilgore in Idaho, and Silver City in Germany [2]

Core Viewpoint - Mawson Finland Limited is advancing its strategic partnership with First Nordic Metals Corp through a significant financing and acquisition agreement, which is expected to enhance the capital structure and project development capabilities of the combined entity, NordCo Gold. Group 1: Financing and Transaction Details - First Nordic has successfully closed an $80 million financing through a brokered and non-brokered offering of subscription receipts priced at $0.38 each [1] - An arrangement agreement has been established where First Nordic will acquire all common shares of Mawson, with each subscription receipt convertible into one common share of NordCo Gold, subject to a 4:1 consolidation [2] - The transaction is anticipated to close in December 2025, pending approval from Mawson shareholders, the Ontario Superior Court, and the TSX Venture Exchange [4] Group 2: Management and Future Plans - The CEO of Mawson expressed confidence that NordCo Gold will be well-capitalized post-transaction, enabling progress on First Nordic's Barsele project and Mawson's Rajapalot project [3] - A special meeting for Mawson shareholders to vote on the transaction is scheduled for December 4, 2025, with proxy materials to be distributed in November [3] Group 3: Financial Arrangements - First Nordic will provide bridge financing to Mawson in the form of a loan up to $1 million, intended for transaction-related costs and general corporate purposes [5] - The loan will accrue interest at 8% per annum, with repayment due by January 30, 2026, or upon termination of the arrangement agreement [6] Group 4: Company Overview - Mawson Finland Limited is focused on the exploration and development of precious and base metal properties in Finland, primarily gold and cobalt, holding a 100% interest in the Rajapalot Gold-Cobalt Project [7]

Core Viewpoint - Solitario Resources (XPL) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system emphasizes the importance of earnings estimate revisions, which are strongly correlated with near-term stock price movements [4][6]. - An increase in earnings estimates typically leads to higher fair value calculations by institutional investors, resulting in stock price movements [4]. Company Performance and Outlook - The recent upgrade for Solitario reflects an improvement in the company's underlying business, which is expected to drive the stock price higher as investors recognize this trend [5][10]. - For the fiscal year ending December 2025, Solitario is projected to earn -$0.07 per share, unchanged from the previous year, but the Zacks Consensus Estimate has increased by 7.1% over the past three months [8]. Zacks Rating System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have averaged a +25% annual return since 1988 [7]. - Solitario's upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [10].