Group 1 - Thunder Mountain Gold, Inc. has entered into a market making services agreement with Independent Trading Group, Inc. effective April 1, 2025, to enhance liquidity and trading activity for its shares [1] - The agreement stipulates a monthly fee of CDN$6,000 to be paid to ITG for their market making services, which will be funded from the company's available cash and working capital [1] - The initial term of the agreement is one month, with automatic renewal for additional one-month terms, and either party can terminate the agreement with 30 days' notice [1] Group 2 - Thunder Mountain Gold, Inc. is a junior exploration company founded in 1935, focusing on base and precious metals projects in the western U.S. [2] - The company's principal asset is The South Mountain Mine, which includes zinc, silver, gold, lead, and copper, located in Owyhee County, Idaho [2] - Thunder Mountain Gold also owns 100% of the Trout Creek Project, a gold exploration project adjacent to Nevada Gold Mines, a joint venture between Barrick and Newmont Gold, Inc. [2]

Core Viewpoint - Kingsrose Mining faces a setback at its Penikat Project in Finland due to the Northern Finland Administrative Court overturning the exploration permit, which halts the winter drilling program [1][2][3] Permit Issues - The court's decision, announced on December 22, 2025, was based on a procedural error in the original permitting process identified by Tukes, the Finnish Mining Authority [2] - The matter has been returned to Tukes for reconsideration, preventing the planned winter drilling program from proceeding as scheduled [3] Company Response - Kingsrose is proactively addressing the situation by planning to apply for a Derogation Permit and submit a revised exploration permit application [4] - The company expects to provide an update on the permitting progress by April 2026 [4] Environmental Considerations - Kingsrose noted that previous Natura assessments and environmental studies were thorough, and the permit documents included an adequate environmental impact assessment [5] - However, Tukes failed to clearly define 'no-go' areas and did not provide sufficient detail regarding company requirements or financial guarantees [5] Project Potential - Despite the permitting setback, Kingsrose remains optimistic about the Penikat project's potential as a high-grade PGE-Ni-Cu project, with surface-outcropping reefs along a 9–11 km strike [6] - The company believes that insights gained from Area 1 will aid in the permitting efforts for Areas 2 to 5 [6] Strategic Alliances - Kingsrose has a history of forming strategic alliances to advance exploration projects, including a recent exploration alliance with BHP Group to collaborate in Norway and Finland [7] Investment Thesis - The company faces a short-term hurdle with the permitting delay at Penikat, but its proactive approach and the project's high-grade potential present a compelling investment thesis [8] - Success will depend on securing the necessary Derogation and revised permits to unlock the value of the PGE-Ni-Cu project [8]