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Hershey to resume using chocolate in most products; Reese’s grandson may taste sweet victory

The grandson of the inventor of the Reese’s Peanut Butter Cups, who has publicly criticized The Hershey Company for tinkering with the classic formula in its spinoff products, appears to have gotten some sweet revenge.

The candy company has announced that it will return to using “classic milk and dark chocolate recipes” in all its Reese’s and Hershey’s products by 2027.

“If this is true, the people who deserve the credit are the loyal fans who were alarmed by what Hershey was doing,” Brad Reese told NBC News on Wednesday. “But I am seeing a lot of red flags here. I think what Hershey is trying to do here is change with PR narrative.”

Reese, whose demands that Hershey stop skimping on chocolate went viral in February, said he trusts his taste buds more than he trusts the company that produces iconic candies that bear his family name.

“If something like the Valentine’s Day Reese’s Mini Heart still doesn’t taste like real milk chocolate next year, I’ll know they’re lying,” he said.

Hershey CEO Kirk Tanner made the announcement on Tuesday in an interview with Bloomberg.

“We’re going to make some small investments to really align the portfolio to what the brand stands for,” Tanner said. “That consistency is important across the brand.”

Reese’s Peanut Butter Cups have been made with the same ingredients since 1928 — milk chocolate and peanut butter.

Starting next year, Tanner said candies inspired by the originals — like the “mini Reese’s cups and shapes,” as well as the Reese’s Fast Break candy bar — will also be made with real milk chocolate instead of a chocolate compound coating.

In addition, all the classic Hershey’s chocolate bars will also be made with “pure milk and dark chocolate,” he said. And Hershey is “enhancing” the Kit Kat candy bar “for a creamier taste and texture.”

In all, the company said the shift from chocolate compound coatings to the real thing will affect less than 3% of the Reese’s products and a tiny portion of Hershey’s products.

And Hershey is “on track” to remove all artificial colors from its products by the end of next year, the company said.

Tanner, in the Bloomberg interview, also insisted that the switch back to real chocolate was in the works long before Reese went public with his complaints.

“Right when I started with the company, we did a deep dive across our portfolio,” said Tanner, who joined the firm in August 2025.

Reese scoffed at that claim from Tanner.

“You know when this became an issue?” he asked. “Valentine’s Day. This has been going on since Valentine’s Day.”

Reese began taking Hershey to task after discovering that the company had replaced the milk chocolate with a chocolate-flavored coating on some of its Reese’s-inspired products, like the Valentine’s Day Reese’s Mini Hearts.

Infuriated, Reese posted a link to a letter of complaint he wrote to Todd Scott, who does the corporate branding for Hershey, on his LinkedIn page.

Reese invoked the name of his grandfather H.B. Reese, who created the iconic peanut butter cup in 1928 and started a candy company that produced them until 1963. Hershey has been making them ever since.

“My grandfather,” Reese wrote, “built REESE’S on a simple, enduring architecture: Milk Chocolate + Peanut Butter.”

But Hershey, he wrote, has replaced the original formula “with compound coatings and Peanut Butter with peanut-butter style cremes across multiple REESE’S products.”

That letter went viral.

Hershey insisted that the Reese’s Peanut Butter Cups were made the same way they had always been. But the company also conceded that, as it expanded its “Reese’s product line,” it had tinkered with the original recipe.

Right now, the Reese’s Mini Eggs that are a staple at Easter celebrations do not contain milk chocolate, according to their labels.

Neither do Reese’s Pieces, which were introduced in 1978 and became a sensation after they were featured in the 1982 movie “E.T. the Extra-Terrestrial.”

In response to an NBC News request for a full list of Reese’s and Hershey’s products that will return to using “classic milk and dark chocolate recipes,” the company released a statement that reiterated much of what Tanner said earlier.

“The core recipes for our Hershey’s chocolate bars and Reese’s peanut butter cups have not changed,” it said in part.

U.S. crude tops $100 and the S&P 500 approaches correction as Iran war enters second month

Global oil prices continued their recent climb and the S&P 500 closed lower Monday after a weekend when Iran-backed Houthi militants launched ballistic missiles at Israel and 3,500 additional U.S. troops arrived in the Middle East.

The conflict between Iran, the U.S. and Israel has entered its second month, with disruptions to oil and other energy and commodities supplies starting to reverberate around the world.

Brent crude oil, the global benchmark, gained 1.5%, to more than $114 a barrel, while U.S. West Texas Intermediate crude climbed almost 5%, to about $104 a barrel, settling above $100 for the first time since 2022.

Rising oil prices are one of the more immediate consequences of the war. Average U.S. gasoline prices hit $3.99 a gallon Monday, according to AAA, the highest since the summer of 2022. Patrick De Haan, chief analyst at Gas Buddy, projected Monday afternoon they would rise to $4 within 24 hours as the average price of gasoline in Florida surged to $4.29.

De Haan estimates that U.S. drivers will soon have spent an additional $10 billion on gasoline since the conflict began just one month ago.

The S&P 500, one of the broadest measures of stocks, fell 0.4% Monday and is now within less than a full percentage point of having declined 10% since its most recent high in January. The tech-focused Nasdaq Composite Index is already in correction territory, down more than 13% from its October high.

Some investors have begun to question President Donald Trump’s ability to reassure financial markets without material progress on the ground.

Investors also increased their purchases of U.S. government bonds Monday over fears of an economic slowdown, sending bond yields lower and dragging down stocks.

Traders now believe higher oil prices may put a damper on overall demand for goods and services.

Bloomberg News reported that U.S. officials and Wall Street analysts have begun considering the prospect that oil prices could surge to as much as $200 a barrel as the largest oil shock in decades continues to reverberate.

That prospect has led analysts to project a global economic slowdown that would hit a U.S. economy already facing suddenly higher gasoline prices.

Earlier Monday, Trump said “great progress has been made” in talks with Iran. At the same time, he threatened to destroy Iran’s civilian energy and water infrastructure if a deal to end the war and reopen the crucial Strait of Hormuz is not reached soon.

Tehran has said U.S. proposals were “unrealistic” and “unreasonable.”

“I think we’ll make a deal with them, pretty sure, but it’s possible we won’t,” Trump told reporters late Sunday. He later said a deal could come “soon.”

Trump also said that Iran “gave us most” of a 15-point plan the U.S. sent Tehran to end the war, which Iran has yet to publicly confirm, and that 20 boatloads of oil — on top of 10 the previous week — will be passing through the Strait of Hormuz beginning Monday “out of a sign of respect.”

Trump separately told the Financial Times on Sunday that an Iran deal could be made “fairly quickly” and that he wants to “take the oil in Iran.”

The world economy is experiencing the most severe oil shock in decades. The worst could still be on the way.

Surging oil prices continue to ripple through the global economy because of the war with Iran. Now, some analysts say the worst could still be ahead as the conflict drags on.

The concern is that beyond immediate knock-on effects from rising gasoline prices, the war’s disruption could come in waves — ones that will play out over weeks and months and leave few parts of the global economy untouched.

“We haven’t seen the brunt of it yet,” said Samantha Gross, director of energy security and climate at the Brookings Institute. “I feel like markets are so far underestimating the effect of the war. It seems that they expect this war to go quickly, and they expect that we can go back to the world before when it’s over. And I don’t think either of those ideas is true.”

The warning signs are already here. The global oil price benchmark, Brent crude — which heavily influences U.S. gasoline prices — briefly topped $119 a barrel last week, the highest since the war began and a level last seen in July 2022 amid the pandemic-era inflation wave. As of Monday, Brent prices had settled at about $113 a barrel.

When will TSA lines go back to normal? Travelers may face delays for days or weeks

Travelers frustrated by long security lines may not see immediate relief, even as Transportation Security Administration officers begin receiving pay again on Monday after working without wages for more than a month during the partial government shutdown.

President Donald Trump signed an executive order Thursday directing federal officials to ensure that TSA workers are paid despite the shutdown, breaking a more than 40-day stretch in which officers went without salaries.

But the move is unlikely to bring instant relief at airport checkpoints, according to former TSA Administrator John S. Pistole.

“It’s a temporary fix,” he told NBC News.

The more pertinent question, he said, is how many workers actually return to their posts now that paychecks are set to resume Monday.

More than 500 officers have quit during the shutdown, according to the Department of Homeland Security, while thousands more have called out because they can’t afford basic expenses.

TSA callout rates reached a high of 12.35% of the workforce on Friday, accounting for more than 3,560 employees, a DHS spokesperson said Saturday. The department added that at Trump’s direction and under Homeland Security Secretary Markwayne Mullin, TSA has “immediately begun the process of paying its workforce” and that officers “should begin seeing paychecks as early as Monday, March 30.”

Those shortages have forced travelers to contend with missed and canceled flights, long security lines and growing uncertainty around air travel.

If most officers report back beginning Monday and airports are able to restore staffing, wait times could start to ease within several days to a couple of weeks, Pistole said.

“It really depends on that asterisk of how many people show up,” he said.

Some workers who left may already have other jobs lined up, raising questions about whether some will return at all.

“How many of them come back after they get this paycheck? Or maybe they already have another full-time job lined up, they’re just waiting to inform TSA after they get their check on Monday,” Pistole said. “So there are a number of variables there.”

Pistole said the uncertainty, coupled with TSA’s typical annual attrition rate of about 7%, could mean delays will continue even after pay resumes.

Until then, some travelers may want to consider alternatives such as driving, rail or bus.

“I think many will and are looking at those options to say, ‘Is that more reliable? Because the last thing I want to do is get to Bush International Airport in Houston and have a four-hour wait,’” Pistole said.

Cartier Cuts 7.1 g/t Au over 8.0 m at Portal ; New Shallow High-Grade Gold Zone Discovered

Cartier Resources Inc. (″ Cartier ″ or the ″ Company ″) (TSXV: ECR,OTC:ECRFF; FSE: 6CA) is pleased to announce the ninth batch of results from the 100,000-m drilling program (2 drill rigs), for the Portal Sector, specifically from the North Simon Zone (″ NSZ ″) on the 100%-owned Cadillac Project, located in Val-d’Or (Abitibi, Quebec).

Strategic Highlights from Portal Sector

Drill Hole Results (Figures 1 to 4)

  • CA26-314 intersected 7.1 g/t Au over 8.0 m including 38.8 g/t Au over 1.0 m (NS Zone).
  • CA26-325 graded 6.8 g/t Au over 2.2 m (NS Zone).
  • CA26-308 reported 3.3 g/t Au over 4.2 m (5C5 Zone).

Significance for Investors

  • Holes CA26-314 and 325 confirm the newly recognized NSZ high-grade gold zone near surface. The mineralization extends over 200 m in strike length and remains open in all directions, suggesting significant upside exploration potential.
  • Most importantly, NSZ is strategically located just 150 metres east of historical ramp. This logistical advantage should enhance the development flexibility and economics of Cadillac Project.

Next Steps

  • Further expansion drilling is planned to significantly refine the geological model, verify the mineralization continuity and determine the gold enrichment vectors.
  • Additional exploration drilling is required to test several new high-priority regional targets along strike of the Portal Sector and the Cadillac Fault Zone, backed by detailed structural and geological modelling and VRIFY’s artificial intelligence (AI) driven targeting.

‘ These results of Portal Sector are particularly exciting as they confirm the presence of a fourth gold sector with strong exploration potential. Benefiting from the existing road access and historical infrastructure, this new sector has the potential for resource growth while being strategically located with respect to the Main Sector. We believe it could significantly enhance the value of the project and provide additional flexibility as we continue to advance and expand the overall development opportunities.‘ – Ronan Deroff, Vice President Exploration of Cartier.

Table 1: Drill hole best assay results from Portal Sector

Hole Number From (m) To (m) Core Length** (m) Au (g/t) Uncut Vertical Depth (m) Zone
CA26-308 122.8 127.0 4.2 3.3 ≈80 5C5
CA26-314 127.0 135.0 8.0 7.1*

≈110

 NS
Including 127.0 128.0 1.0 18.1
Including 134.0 135.0 1.0 38.8*
CA26-325 29.0 31.2 2.2 6.8

≈25

 NS
Including 29.0 30.0 1.0 5.8
Including 30.0 31.2 1.2 7.6

* Occurrences of visible gold (VG) have been noted in the drill core at various intervals. ** Based on the observed intercept angles within the drill core, true thicknesses are estimated to represent approximately 50-90% of the reported core length intervals.

Figure 1: Location of the new drill results (regional plan view)

Figure 2: Location of the new drill results (regional longitudinal section)

Figure 3: Plan view, cross and long sections of the Portal Sector

Figure 4: Photos of the drill core from hole CA26-314

Portal Sector

The Portal Sector is a highly prospective area featuring the new North Simon Zone with indicated resources of 9,600 ounces (0.2 million tonnes at 1.9 g/t Au) and inferred resources of 112,600 ounces (1.8 million tonnes at 2.0 g/t Au). The latter is the first ever resource estimate in this sector for which there has been only limited and relatively shallow testing. This sector hosts several newly defined high-priority drill targets.

This sector lies along an east-west trending, strongly sheared corridor (Cadillac Fault Zone) and occurs at the contact between the hanging wall turbiditic sedimentary rocks (wacke-mudrock), locally conglomerates and iron formations of Cadillac Group and the footwall mafic volcanics (basalt) of Piché Group. This lithological unit is a favorable horizon for hydrothermal fluid flow, likely related to synvolcanic gold deposition.

The Portal Sector, defined by at least four parallel gold-rich zones, are typically and primarily associated with a fine-grained and disseminated arsenopyrite-pyrrhotite mineralization, with a pervasive biotite-chlorite-carbonate alteration, all crosscut by late-stage smoky and white quartz vein and veinlet stockworks containing visible gold. Locally, accessory minerals such as pyrite and tourmaline are observed.

Milestones of 2025-2027 Exploration Program

100,000 m Drilling Program (Q3 2025 to Q2 2027)

The ambitious 600-hole drilling program will both expand known gold zones and test new shallow surface high-potential targets. The objective is to unlock the camp-scale, high-grade gold potential along the 15 km Cadillac Fault Zone. It is important to note that Cartier’s recent consolidation of this large land holding offers the unique opportunity in over 90 years for unrestricted exploration.

Environmental Baseline Studies & Economic Evaluation of Chimo mine tailings (Q3 2025 to Q3 2026)

The baseline studies will be divided into two distinct parts which include 1) environmental baseline desktop study and 2) preliminary environmental geochemical characterization. The initial baseline studies will provide a comprehensive understanding of the current environmental conditions and implement operations that minimize environmental impact while optimizing the economic potential of the project. These studies will be supplemented by an initial assessment of the economic potential of the past-producing Chimo mine tailings to determine whether a quantity of gold can be extracted economically.

Metallurgical Sampling and Testwork Program (Q4 2025 to Q1 2026)

The metallurgical testwork program includes defining of expected gold recovery rates and improving historical results from the Chimo deposit, as well as establishing metallurgical recovery data for the first-time for the East Chimo and West Nordeau satellite deposits, where no previous data exists. This comprehensive program will characterize the mineralized material, gold recovery potential and validate optimal grind size defining the most efficient and cost-effective flowsheet. The data generated will directly support optimized project development and have the potential to significantly reduce both capital and operating costs, while also improving the environmental footprint.

Preliminary Economic Assessment (2026)

Internal engineering studies have been initiated to validate a multitude of development scenarios that consider the updated MRE and current market environment. Following the selection of the most optimal scenario, a PEA will be completed which will also build upon the results of the metallurgical testwork program and the environmental baseline studies to unveil the updated development strategy and vision of the project.

Table 2: Drill hole collar coordinates from Portal Sector

Hole Number UTM Easting (m) UTM Northing (m) Elevation (m) Azimuth (°) Dip (°) Hole Length (m)
CA26-308 331360 5320154 340 184 -44 144
CA26-309 331360 5320154 340 191 -70 210
CA26-310 331360 5320154 340 231 -78 261
CA26-311 331278 5320204 338 213 -48 195
CA26-312 331278 5320204 338 210 -74 261
CA26-314 330937 5320470 335 207 -59 171
CA26-315 330937 5320470 335 160 -70 204
CA26-316 330937 5320470 335 184 -80 204
CA26-317 330951 5320425 335 219 -44 120
CA26-318 331011 5320439 335 213 -66 150
CA26-319 331011 5320439 335 207 -81 171
CA26-320 331037 5320425 335 188 -53 117
CA26-323 331010 5320365 335 165 -46 75
CA26-325 330946 5320385 335 204 -77 90

Table 3: Drill hole detailed assay results from Portal Sector

Hole Number From (m) To (m) Core Length* (m) Au (g/t) Uncut Vertical Depth (m) Zone
CA26-308 88.0 89.0 1.0 1.8 ≈60 –
And 122.8 127.0 4.2 3.3

≈80

 5C5
Including 122.8 123.8 1.0 4.6
Including 123.8 124.8 1.0 1.6
Including 124.8 125.8 1.0 2.9
Including 125.8 126.3 0.5 5.3
Including 126.3 127.0 0.7 2.7
CA26-309 164.9 166.0 1.1 1.3 ≈155 –
And 188.0 189.0 1.0 1.6 ≈175 5C5
CA26-310 242.3 243.0 0.7 4.0* ≈235 5C5
CA26-311 142.0 143.0 1.0 1.8 ≈105 –
And 166.0 167.0 1.0 3.5

≈125

 5C5
And 170.0 171.0 1.0 1.0
And 177.0 178.0 1.0 2.2
And 178.0 179.0 1.0 1.0
CA26-312 219.0 219.5 0.5 1.2 ≈210 –
And 249.0 250.0 1.0 1.1 ≈235

 5C5
And 251.0 252.0 1.0 1.4
And 252.0 253.0 1.0 3.1
CA26-314 33.0 34.0 1.0 1.1 ≈30

 –
And 34.0 35.0 1.0 1.8
And 78.0 79.0 1.0 1.0 ≈70

 –
And 81.3 82.0 0.7 2.3
And 91.5 92.0 0.5 2.1
And 127.0 135.0 8.0 7.1* ≈110

 NS
Including 127.0 128.0 1.0 18.1
Including 134.0 135.0 1.0 38.8*
CA26-315 44.5 45.5 1.0 1.2 ≈40 –
And 80.0 81.2 1.2 3.5 ≈75 –
CA26-316 194.0 195.0 1.0 1.2 ≈190

 NS
And 197.0 198.0 1.0 1.7
CA26-317 70.0 71.0 1.0 1.0 ≈45 –
And 101.0 102.0 1.0 1.5 ≈65 –
CA26-318 106.0 107.0 1.0 1.2 ≈95

 NS
And 107.0 108.0 1.0 1.5
CA26-319 76.0 77.0 1.0 1.2 ≈75 –
CA26-320 37.0 38.0 1.0 2.0 ≈25 –
CA26-323 40.5 41.5 1.0 1.0 ≈30 –
CA26-325 15.0 16.0 1.0 2.7 ≈15 –
And 29.0 31.2 2.2 6.8 ≈25

 NS
Including 29.0 30.0 1.0 5.8
Including 30.0 31.2 1.2 7.6

* Occurrences of visible gold (VG) have been noted in the drill core at various intervals. ** Based on the observed intercept angles within the drill core, true thicknesses are estimated to represent approximately 50-90% of the reported core length intervals.

Quality Assurance and Quality Control (QA/QC) Program

The drill core from the Cadillac Project is NQ-size and, upon receipt from the drill rig, is described and sampled by Cartier geologists. Core is sawn in half, with one half labelled, bagged and submitted for analysis and the other half retained and stored at Cartier’s coreshack facilities located in Val-d’Or, Quebec, for future reference and verification. As part of Quality Assurance and Quality Control (QA/QC) program, Cartier inserts blank samples and certified reference materials (standards) at regular intervals into the sample stream prior to shipment to monitor laboratory performance and analytical accuracy.

Drill core samples are sent to MSALABS’s analytical laboratory located in Val-d’Or, Quebec, for preparation and gold analysis. The entire sample is dried and crushed (70% passing a 2-millimeter sieve). The analysis for gold is performed on an approximately 500 g aliquot using Chrysos Photon Assay technology, which uses high-energy X-ray excitation with gamma detection to quickly and non-destructively measure gold content.

Alternatively, samples are submitted to Activation Laboratories Ltd. (‘Actlabs’), located in either Val-d’Or or Ste-Germaine-Boulé, both in Quebec, for preparation and gold analysis. The entire sample is dried, crushed (90% passing a 2-millimetre sieve) and 250 g is pulverized (90% passing a 0.07-millimetre sieve). The analysis for gold is conducted using a 50 g fire assay fusion with atomic absorption spectroscopy (AAS) finish, with a detection limit up to 10,000 ppb. Samples exceeding this threshold are reanalyzed by fire assay with a gravimetric finish to determine high-grade values accurately.

Both MSALABS and Actlabs are ISO/IEC 17025 accredited for gold assays and implement industry-standard QA/QC protocols. Their internal quality control programs include the use of blanks, duplicates, and certified reference materials at set intervals, with established acceptance criteria to ensure data integrity and analytical precision.

Qualified Person

The scientific and technical content of this press release has been prepared, reviewed and approved by Mr. Ronan Déroff, P.Geo., M.Sc., Vice President Exploration, who is a ″ Qualified Person ″ as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (″ NI 43-101 ″).

About Cadillac Project

The Cadillac Project, covering 14,000 hectares along a 15-kilometre stretch of the Cadillac Fault, is one of the largest consolidated land packages in the Val-d’Or mining camp. Cartier’s flagship asset integrates the historic Chimo Mine and East Cadillac projects, creating a dominant position in a world class gold mining district. With excellent road access, year-round infrastructure and nearby milling capacity, the project is ideally positioned for rapid advancement and value creation.

The Cadillac property contains total gold resource of 767,800 ounces in the measured and indicated category (10.0 Mt at 2.4 g/t Au) and 2,416,900 ounces in the inferred category (35.2 Mt at 2.1 g/t Au) across all the sectors. Please see the ″ NI 43-101 Technical Report and Mineral Resource Estimate on the Cadillac Project, Val-d’Or, Abitibi, Quebec, Canada. Pierre-Luc Richard, P.Geo. of PLR Resources Inc., Stephen Coates, P.Eng. of Evomine Consulting Inc. and Florent Baril, P.Eng. of Bumigeme Inc. ″, effective January 27, 2026.

About Cartier Resources Inc.

Cartier Resources Inc., founded in 2006 and headquartered in Val-d’Or (Quebec) is a gold exploration company focused on building shareholder value through discovery and development in one of Canada’s most prolific mining camps. The Company combines strong technical expertise and a track record of successful exploration to advance its flagship Cadillac Project. Cartier’s strategy is clear: unlock the full potential of one of the largest undeveloped gold landholdings in Quebec.

For further information, contact:

Philippe Cloutier, P. Geo.
President and CEO
Telephone: 819-856-0512
philippe.cloutier@ressourcescartier.com
www.ressourcescartier.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/4a6070a5-433e-49db-b60d-22387d3a3983
https://www.globenewswire.com/NewsRoom/AttachmentNg/ac66c90e-4b27-42fa-ad98-5e596b72c8fe
https://www.globenewswire.com/NewsRoom/AttachmentNg/7db6da4e-0bcb-4ce2-8f3a-c58d2e5cf92c
https://www.globenewswire.com/NewsRoom/AttachmentNg/fa6a3b5f-0360-4d98-becb-946a9f200df1

News Provided by GlobeNewswire via QuoteMedia

This post appeared first on investingnews.com

NevGold Mobilizes Drill To Test Historical Leach Pads To Advance The Near-Term Antimony Production Scenario at Limo Butte

Nevgold Corp. (‘NevGold’ or the ‘Company’) (TSXV:NAU,OTC:NAUFF) (OTCQX:NAUFF) (Frankfurt:5E50) is pleased to announce that the permits have been received and a drill rig is mobilizing to its Limousine Butte Project (the ‘Project’, ‘Limo Butte’) in Nevada. The drilling will test the historical gold heap leach pads for antimony with the objective of advancing the leach pads to a near-term antimony production scenario. This is one of the only near-term, at-surface antimony production scenarios in the United States with a path to potential antimony metal production by 2027. 

NevGold CEO, Brandon Bonifacio, comments: ‘There are very few opportunities like the near-term antimony production potential from the historical gold leach pads at Limo Butte. There is a clear mandate in the United States to find near-term production from a number of Critical Minerals, and we have one of those opportunities which we are rapidly advancing. We are in an advantageous position as we have oxide antimony at surface amendable to leaching at a brownfield mine site in the State of Nevada, which is one of the top mining jurisdictions globally with a systematic permitting regime and strong community support. Our focus is to drill the leach pads to advance to a Mineral Resource Estimate by the beginning of Q2-2026, which will define the grade and quantities of contained antimony that we have on the pads. Once an MRE is delivered, we will be able to evaluate the various development scenarios to extract the antimony from the leach pads, with the objective of reaching antimony metal production by 2027. We have the opportunity to be one of the near-term solutions to the United States building a fully vertically integrated antimony supply chain‘

Key Highlights

  • Drilling will advance the leach pads to a Mineral Resource Estimate (‘MRE’) by the beginning of Q2-2026 building on the Phase 1 sampling completed (see News Release from January 6, 2026):
    • The MRE is a key step in defining the quantities of antimony that could be processed in the near-term from the historical gold leach pads
    • Drilling will be completed over the coming weeks
    • Certain areas of the leach pads had Phase I sampling results of 0.74% Sb to 0.81% Sb (See Figure 1)
      • 2025 testwork using acid leaching resulted in antimony recoveries of up to 92%
      • Acid Leaching is being reviewed as the preferred metallurgical process for antimony as there is no reliance on downstream processing at third-party smelters; the acid leaching scenario would produce antimony metal at site through a conventional leaching scenario, which has many similarities to Solvent Extraction-Electrowinning (SX/EW) used for oxide copper in the copper industry
      • Antimony recovery has minimal to no impact on gold recovery; the gold in the historical leach pads could also be recovered in the future after antimony processing is completed
    • Antimony is one of the highest priority Critical Minerals due to its strategic importance and military applications; Limo Butte is a brownfield mine site located in the State of Nevada with near-surface, high-grade antimony mineralization
      • Historical leach pads provide opportunity for near-term antimony production
      • A larger commercial gold-antimony opportunity could be advanced and developed in parallel to the historical leach pad opportunity, including drilling, metallurgical testwork, and the preparation of a Mineral Resource Estimate (‘MRE’) at Resurrection Ridge (including high-grade antimony Bullet Zone discovery made in 2025) and Cadillac Valley
      • A staged project development approach offers various potential development scenarios over the next 12-24 months which may achieve near-term production and cash flow
    • 30 holes completed in the current 2025-2026 drill program with 12 holes pending release 

    Limo Butte Planned 2026 Activities / Status Update
    NevGold will continue its active exploration program at Limo Butte including:

    • Evaluating the historical geological database with focus on gold and antimony (completed);
    • Advancing metallurgical testwork (ongoing);
    • Continuing to drill test gold-antimony targets (5,000 meters (30 drillholes) completed, a further 20,000 meters is planned in 2026 focused on the Bullet Zone and Armory Fault discoveries);
    • Advancing the Crushed and Run of Mine (‘ROM’) leach pads to near-term antimony production (Drilling March-2026, MRE beginning of Q2-2026, ongoing metallurgical testwork);
    • Completing initial gold-antimony Mineral Resource Estimate (MRE) (in progress).

    Figure 1 – Historical gold leach pads and summary of Phase 1 pit sampling antimony results released on January 6, 2026. The results show consistent antimony grade throughout both the Crushed and ROM pads. The historically mined leach pads have material at surface that was previously mined and crushed with strong antimony-gold potential. To view image please click here

    Figure 2 – Historical gold leach pads and summary of Phase 1 pit sampling gold results released on January 6, 2026. The results show consistent gold grade throughout both the Crushed and ROM pads. The historically mined leach pads have material at surface that was previously mined and crushed with strong antimony-gold potential. 
    To view image please click here

    Figure 3 – Resurrection Ridge target area with the historically mined Golden Butte pit gold leach pads. 
    To view image please click here

    US Executive Order – Announced March 20, 2025
    The Company is pleased to report the sweeping Executive Order to strengthen American mineral production and reduce U.S. reliance on foreign nations for its mineral supply. Antimony (Sb) has been identified as an important ‘Critical Mineral’ in the United States essential for national security, clean energy, and technology applications, yet limited domestic mine supply currently exists.

    The Executive Order invokes the use of the Defense Production Act as part of a broad United States (‘US’) Government effort to expand domestic minerals production on national security grounds. As it relates to project permitting, the Order states that it will ‘identify priority projects that can be immediately approved or for which permits can be immediately issued, and take all necessary or appropriate actions…to expedite and issue the relevant permits or approvals.’ Furthermore, the Order includes provisions to accelerate access to private and public capital for domestic projects, including the creation of a ‘dedicated mineral and mineral production fund for domestic investments’ under the Development Finance Corporation (‘DFC’).

    This decisive action by the US Government highlights the urgent need to expand domestic minerals output to support supply chain security in the United States. This important Order will help revitalize domestic mineral production by improving the permitting process and providing financial support to qualifying domestic projects.

    Importance of Antimony
    Antimony is considered a ‘Critical Mineral’ by the United States based on the U.S. Geological Survey’s 2022 list (U.S.G.S. (2022)). ‘Critical Minerals’ are metals and non-metals essential to the economy and national security. Antimony is utilized in all manners of military applications, including the manufacturing of armor piercing bullets, night vision goggles, infrared sensors, precision optics, laser sighting, explosive formulations, hardened lead for bullets and shrapnel, ammunition primers, tracer ammunition, nuclear weapons and production, tritium production, flares, military clothing, and communication equipment. Other uses include technology (semi-conductors, circuit boards, electric switches, fluorescent lighting, high quality clear glass and lithium-ion batteries) and clean-energy storage.

    Globally, approximately 90% of the world’s current antimony supply is produced by China, Russia, and Tajikistan. Beginning on September 15, 2024, China, which is responsible for nearly half of all global mined antimony output and dominates global refinement and processing, announced that it will restrict antimony exports. In December-2024, China explicitly restricted antimony exports to the United States citing its dual military and civilian uses, which further exacerbated global supply chain concerns. (Lv, A. and Munroe, T. (2024)) The U.S. Department of Defense (‘DOD’) has designated antimony as a ‘Critical Mineral’ due to its importance in national security, and governments are now prioritizing domestic production to mitigate supply chain disruptions. Projects exploring antimony sources in North America play a key role in addressing these challenges.

    Perpetua Resources Corp. (‘Perpetua’, NASDAQ:PPTA, TSX:PPTA) has the most advanced domestic gold-antimony project in the United States. Perpetua’s project, known as Stibnite, is located in Idaho approximately 130 km northeast of NevGold’s Nutmeg Mountain and Zeus projects. Positive advancements at Stibnite including technical development and permitting has led to US$75 million in Department of Defense (‘DOD’) awards, over $1.8 billion in indicative financing from the Export Import Bank of the United States (‘US EXIM’) (see Perpetua Resources News Release from April 8, 2024) (Perpetua Resources. (2025)), and recent strategic investments of US$180 million from Agnico-Eagle Mines Limited (‘Agnico’) and US$75 million from JPMorganChase’s $1.5 trillion Security and Resiliency Initiative. (see Perpetua Resources News Release from October 27, 2025)

    Figure 4 – Limousine Butte Land Holdings and District Exploration Activity To view image please click here

    ON BEHALF OF THE BOARD

    ‘Signed’

    Brandon Bonifacio, President & CEO

    For further information, please contact Brandon Bonifacio at bbonifacio@nev-gold.com, call 604-337-4997, or visit our website at www.nev-gold.com.

    Sampling Methodology, Quality Control and Quality Assurance
    NevGold QA/QC protocols are followed on the Project and include insertion of duplicate, blank and standard samples in all drill holes. Drill, surface, and pit samples are sent to ISO 17025 certified American Assay Labs in Reno, Nevada. A 30g gold fire assay and multi-elemental analysis ICP-OES method were completed.

    The pit sampling was conducted by Greg French, CPG, the Company’s Vice President, Exploration, who is NevGold’s Qualified Person (‘QP’) under National Instrument 43-101. Mr. French also and reviewed and approved the technical information contained in this news release

    About the Company
    NevGold is an exploration and development company targeting large-scale mineral systems in the proven districts of Nevada and Idaho. NevGold owns a 100% interest in the Limousine Butte and Cedar Wash gold projects in Nevada, and the Nutmeg Mountain gold project and Zeus copper project in Idaho.

    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.

    Cautionary Note Regarding Forward Looking Statements

    This news release contains forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as ‘plan’, ‘expect’, ‘project’, ‘intend’, ‘believe’, ‘anticipate’, ‘estimate’, ‘suggest’, ‘indicate’ and other similar words or statements that certain events or conditions ‘may’ or ‘will’ occur. Forward-looking statements include, but are not limited to, the proposed work programs at Limousine Butte, the exploration potential at Limousine Butte, and the completion of future potential project milestones such as the potential Mineral Resource Estimate (‘MRE’) and reaching potential antimony production. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such risks include, but are not limited to, general economic, market and business conditions, and the ability to obtain all necessary regulatory approvals. There is some risk that the forward-looking statements will not prove to be accurate, that the management’s assumptions may not be correct or that actual results may differ materially from such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

    References

    Blackmon, D. (2021) Antimony: The Most Important Mineral You Never Heard Of. Article Prepared by Forbes.

    Kurtenbach, E. (2024) China Bans Exports to US of Gallium, Germanium, Antimony in response to Chip Sanctions. Article Prepared by AP News.

    Lv, A. and Munroe, T. (2024) China Bans Export of Critical Minerals to US as Trade Tensions Escalate.  Article Prepared by Reuters.

    Lv, A. and Jackson, L. (2025) China’s Curbs on Exports of Strategic Minerals. Article Prepared by Reuters.

    Perpetua Resources. (2025) Antimony Summary.  Articles and Videos Prepared by Perpetua Resources.

    Sangine, E. (2022) U.S. Geological Survey, Mineral Commodity Summaries, January 2023. Antimony Summary Report prepared by U.S.G.S

    U.S.G.S. (2022) U.S. Geological Survey Releases 2022 List of Critical Minerals. Reported Prepared by U.S.G.S

    News Provided by GlobeNewswire via QuoteMedia

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    Uranium Market Facing Supply Crunch as Nuclear Fleet Grows

    The global uranium market is entering what industry leaders describe as a pivotal phase, with strengthening nuclear demand colliding with tightening supply and rising geopolitical competition for fuel.

    At the Prospectors & Developers Association of Canada (PDAC) convention in Toronto, an executive from Cameco (TSX:CCO,NYSE:CCJ) and an analyst from UxC warned that the nuclear fuel cycle is undergoing a structural shift; one that could reshape uranium pricing and supply security over the coming decades.

    During a presentation titled “Reviving the Nuclear Life Cycle,’ Grant Isaac, president and COO of Cameco, said the market often underestimates uranium demand because much of it is driven by long-term government and utilities agreements that are negotiated outside the public market.

    “The sovereign interest in where nuclear fuel is coming from over a very long period of time is probably one of the most unrecognized pieces of uranium demand out there,” he said.

    Unlike most commodities, uranium is rarely traded through large spot exchanges. Instead, utilities typically secure fuel years in advance through long-term contracts tied to reactor operations.

    “Uranium is a product for which there is no substitute,” Isaac said.

    “We don’t produce uranium to dump into a spot market or to sell to a smelter or metals exchange. That’s not how our market works … the market works on long-term planning tied directly to reactor demand.”

    Nuclear expansion reshaping uranium demand

    The global nuclear fleet currently includes roughly 441 reactors generating about 400 gigawatts of electricity, according to data from UxC. By 2040, that capacity could grow to more than 580 gigawatts as new reactors come online and existing units receive license extensions.

    China alone operates about 60 reactors and has another 38 under construction, representing nearly 40 gigawatts of additional capacity. India is also expanding rapidly as part of its energy security strategy.

    Elsewhere, nuclear demand is being supported by reactor restarts in Japan and steady generation in France, as well as new projects in the US and across Central and Eastern Europe.

    Isaac noted that many reactors originally slated for closure are now being upgraded and extended, adding new fuel requirements that were not anticipated just a few years ago. Utilities are investing in upgrades that can boost output by 50 to 100 megawatts per reactor, he said — changes that require additional uranium.

    “That alone is significant demand for uranium that nobody was talking about three or four years ago,” Isaac said.

    Uranium supply challenges intensifying

    While demand is strengthening, speakers at PDAC warned that uranium supply faces a range of structural constraints, from geopolitical disruptions to project development risks.

    Nick Carter, executive vice president at UxC, said Asia will account for much of that demand growth, particularly in China and India. In terms of supply, global uranium production totaled about 173 million pounds in 2025, according to UxC. The largest producer was Kazakhstan, followed by Canada, Namibia and Australia.

    Yet even with new projects planned, UxC forecasts significant deficits beginning around 2030.

    “We do start seeing supply gaps starting around 2030 and extending through 2040. Filling that gap will be quite challenging,’ Carter said. Several factors are complicating the supply outlook.

    Political instability has already disrupted production in parts of Africa. In 2023, the government of Niger took control of uranium assets previously operated by French nuclear group Orano.

    “That is material that used to come into the west that is not coming into the west anymore,” Isaac said.

    At the same time, China has aggressively secured uranium supply through overseas investments and long-term contracts. Carter estimates that the Asian nation now controls or has access to nearly 40 percent of global primary uranium production through imports and equity stakes in foreign mines.

    “China imported nearly 70 million pounds of open market supply last year,” Carter said, adding that large volumes of Russian material are also being redirected to Chinese buyers.

    New mines need higher incentive prices

    Despite strong demand fundamentals, uranium prices have not yet fully reflected tightening supply conditions across the nuclear fuel cycle. Downstream services such as enrichment and conversion have already experienced significant price increases, Isaac said, suggesting the uranium market itself could follow.

    “We need to see price discovery in our industry,” he said, adding that the era of extremely cheap uranium is likely over.

    “We’re out of US$20 uranium, and we’re probably out of US$40,” he said. “And I think we’re running out of US$80.”

    Higher uranium prices may ultimately be required to incentivize new mines and ensure long-term fuel availability for the expanding nuclear sector.

    “If we treat nuclear fuel as the long-lead item that it actually is,” Isaac said, “Then the industry can transition smoothly into this period of growth.” Otherwise, he warned, the market may face a more abrupt reset.

    “It will reset,” he said. “But it may reset more violently than any of us would like.”

    Uranium prices enter new phase of volatility

    Also speaking at PDAC, Treva Klingbiel, president of TradeTech, said the uranium market is entering a new phase marked by stronger prices and increasing volatility. She noted that uranium prices have historically moved in pronounced “supercycles,” a pattern visible in price data dating back to the late 1960s.

    The most recent cycle has been particularly dramatic, she said, highlighting how the market has rebounded from the prolonged downturn that followed the Fukushima accident.

    In 2016, uranium prices fell to a low of about US$17.75 per pound as early reactor closures, production costs well above market prices and supportive policies for gas and renewable energy weighed heavily on the sector.

    Since then, the market has staged a sharp recovery.

    “Since that low point, the price has more than quintupled,” Klingbiel said.

    Today, TradeTech’s daily spot price sits around US$85, while the long-term contract price has climbed to about US$90. She added that TradeTech’s exchange value, a monthly pricing indicator, briefly reached US$100 in late January, a level that has been recorded only a handful of times since the firm began tracking uranium prices in 1968.

    Looking ahead, Klingbiel said the uranium industry is now grappling with how quickly supply and demand can respond to geopolitical and policy shifts. In her view, the velocity is ‘very different from the past.’

    Recent political developments, particularly shifting trade policies and evolving alliances, have already disrupted longstanding nuclear fuel supply chains. While some government initiatives are boosting nuclear power, other policies have placed pressure on available supply of uranium and enrichment services.

    Limited investment over the past decade has contributed to what TradeTech views as a widening structural deficit.

    “The demand is there,” Klingbiel told listeners at PDAC.

    “What we need now is the capital to develop new production to bridge that supply gap.”

    Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

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    Crypto Market Update: Iran War Drives Oil Derivatives Boom on Crypto Exchange

    Here’s a quick recap of the crypto landscape for Wednesday (March 11) as of 9:00 p.m. UTC.

    Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.

    Bitcoin (BTC) was priced at US$70,624.29, up by 0.6 percent over the last 24 hours.

    Bitcoin price performance, March 11, 2026.

    Chart via TradingView.

    Bitcoin volatility remains elevated amid macro and oil price shocks. Amberdata’s recent analysis pins Bitcoin’s prolonged correction, which began after its October 2025 peak, partly on carry trade unwind, which has caused the 30 day basis to compress from over 15 percent in January 2025 to just over 5 percent on Wednesday.

    Rania Gule, senior market analyst at XS.com, reads the current US$70,000 stall as a bottoming and rebalancing, not an endless correction, with short squeeze and scarcity setting up the next leg up.

    Ether (ETH) was priced at US$2,075.44, up by 1.7 percent over the last 24 hours.

    Altcoin price update

    • XRP (XRP) was priced at US$1.39, up by 0.4 percent over 24 hours.
    • Solana (SOL) was trading at US$87.19, up by 1.3 percent over 24 hours.

    Today’s crypto news to know

    Oil trading surges on crypto derivatives platform

    Volatility in global energy markets is spilling into crypto trading platforms, where oil derivatives are now among the most active markets. On decentralized exchange Hyperliquid, an oil-linked perpetual futures contract tracking West Texas Intermediate (WTI) crude has generated about US$1.32 billion in trading volume over the past 24 hours.

    The surge made oil the second most traded contract on the platform after Bitcoin.

    It followed the escalation of the US-Israel conflict with Iran, which sent oil prices briefly soaring above US$118 per barrel before retreating. Prior to the conflict, the contract typically saw about US$21 million in daily trading.

    Data from Hyperliquid shows Bitcoin still dominates trading activity with roughly US$3.64 billion in daily volume, but the WTI contract has now leapfrogged assets such as Ether, silver and gold.

    Strategy adds nearly 18,000 Bitcoin in US$1.28 billion purchase

    Michael Saylor’s Strategy (NASDAQ:MSTR) continued its aggressive accumulation strategy last week, revealing that it purchased 17,994 BTC for about US$1.28 billion between March 2 and 8.

    According to a regulatory filing, the company paid an average price of roughly US$70,946 per coin. The latest purchase lifts Strategy’s total holdings to 738,731 Bitcoin, acquired at a combined cost of about US$56.04 billion.

    Circle launches nanopayments on testnet for AI agent commerce

    Circle Internet Group (NYSE:CRCL) launched nanopayments on a testnet on Tuesday (March 10), enabling artificial intelligence (AI) agents and machines to handle instant, gas-free payments of fractions of a cent using USDC. This financial rail allows machine-to-machine commerce, or “agentic economic activity,” by bundling many tiny off-chain transactions for free and settling them periodically on EVM chains like Arbitrum or Base.

    Agents sign an off-chain authorization for immediate service. Following the x402 standard, it requires no accounts, just programmable USDC flows. This enables use cases like robots paying to recharge or AI paying per data crawl.

    It is currently available for developers on testnet only.

    Foundry Digital to launch Zcash mining pool

    Foundry Digital, a company that builds infrastructure for digital asset mining, said it is planning to launch a specialized mining pool for Zcash in April of this year, expanding beyond their Bitcoin focus.

    A spokesperson for Foundry told Cointelegraph that the company decided to build the new mining pool because “Zcash addresses something we believe is genuinely important: the idea that financial privacy is foundational to economic freedom, and that privacy and compliance can coexist.”

    In addition, “When institutional and public miners can mine Zcash through infrastructure built to their standards, it brings new hashrate to the network and strengthens its security.”

    Strive allocates US$50 million to Strategy

    Strive Asset Management announced a US$50 million allocation of its corporate treasury to Strategy variable-rate perpetual preferred stock on Wednesday, with Chief Risk Officer Jeff Walton saying the company sees the stock as “a high-quality credit, offering material yield, higher liquidity, and attractive risk profile over traditional credit instruments for moderate duration capital.” The firm projects over US$3.9 million in returns per year compared to T-bills.

    China’s top court warns of tougher penalties for crypto crime

    China’s Supreme People’s Court has signaled a harder line against cryptocurrency-related financial crime, pledging stricter penalties for individuals using digital assets to launder money or move funds overseas.

    Chief Justice Zhang Jun issued the warning in the court’s annual report to the National People’s Congress, highlighting the growing role of crypto in cross-border financial offenses.

    Authorities say the crackdown is part of a broader campaign against technology-enabled crime, which increasingly includes AI-driven fraud and coordinated online harassment campaigns known as “human flesh search.”

    Despite the ban, enforcement agencies say criminals have continued to exploit digital assets to bypass China’s strict capital controls, which limit individuals to transferring US$50,000 abroad each year.

    Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

    Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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    Questcorp Mining Completes Induced Polarization Survey at the Marisa Zone – North Island Copper Project

    Questcorp Mining Inc. (CSE: QQQ,OTC:QQCMF) (OTCQB: QQCMF) (FSE: D910) (the ‘Company’ or ‘Questcorp’) is pleased to announce the successful completion of 12.8 line kilometres of induced polarization (‘IP’) surveying over the Marisa Zone at its 1,168-hectare North Island Copper Project located near Port Hardy on Vancouver Island, British Columbia.

    The Company is currently reviewing the newly acquired geophysical data and will release a detailed interpretation once the technical team has completed its evaluation. As part of this process, Peter E. Walcott and Associates Limited will integrate the historical 1992 IP survey data with the new 2026 survey results to generate a comprehensive 3D inversion model of the target area.

    The results of this work are expected to assist in defining priority drill targets. Subject to final interpretation and permitting timelines, the Company intends to initiate permitting for a drill program in late H1 or early H2 2026.

    Previous exploration at the Marisa Zone identified copper mineralization associated with an IP chargeability anomaly. In 1992, two of five diamond drill holes were completed to test the anomaly intersected copper mineralization, including:

    • 0.078% copper over 56.39 metres (DDH92-01)
    • 0.041% copper over 70.71 metres (DDH92-03)

    Both intercepts were encountered within altered quartz diorite, with copper grades increasing with depth in DDH92-03.

    Source: Geophysical and Diamond Drilling Report on the Marisa Property, G.J. Allen and P.G. Dasler, February 29, 1992, prepared for Great Western Gold Corporation.

    ‘This recently completed IP survey represents an important step in advancing the Marisa Zone target,’ stated Saf Dhillon, President & Chief Executive Officer of Questcorp Mining. ‘The survey has successfully confirmed the presence of the historical chargeability anomaly identified in earlier work. Once Walcott and Associates completes the 3D inversion and our technical team finishes reviewing the results, we expect to refine potential drill targets and move toward a drill program later in 2026.’

    The Company cautions that a Qualified Person has not verified the historical exploration data referenced in this release. The presence of mineralization on adjacent or nearby properties, including NorthIsle Copper and Gold and BHP properties, is not necessarily indicative of mineralization on the North Island Copper Project.

    The technical content of this news release has been reviewed and approved by R. Tim Henneberry, P. Geo (BC), a Director of the Company and a Qualified Person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

    About Questcorp Mining Inc.

    Questcorp is engaged in the business of the acquisition and exploration of mineral properties in North America, with the objective of locating and developing economic precious and base metal properties of merit. The Company holds an option to acquire an undivided 100-per-cent interest in and to mineral claims totalling 1,168.09 hectares comprising the North Island Copper property, on Vancouver Island, B.C., subject to a royalty obligation. The Company also holds an option to acquire an undivided 100-per-cent interest in and to mineral claims totalling 2,520.2 hectares comprising the La Union project located in Sonora, Mexico, subject to a royalty obligation.

    ON BEHALF OF THE BOARD OF DIRECTORS,

    Saf Dhillon
    President & CEO

    Questcorp Mining Corp.
    saf@questcorpmining.ca
    Tel. (604-484-3031)
    Suite 550, 800 West Pender Street
    Vancouver, British Columbia
    V6C 2V6

    https://questcorpmining.ca

    This news release includes certain ‘forward-looking statements’ under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the intended use of proceeds from the Offering; and closing of subsequent tranches of the Offering. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic, competitive, political and social uncertainties, uncertain capital markets; and delay or failure to receive board or regulatory approvals. There can be no assurance that such forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

    Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

    To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288086

    News Provided by TMX Newsfile via QuoteMedia

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    Prince Silver

    Investor Insight

    With a strong asset foundation, C$8 million in cash, and an experienced technical team, Prince Silver is well-positioned to capitalize on the current macro tailwinds in the silver and manganese markets. The project has a US Critical Minerals advantage, hosting silver, zinc, lead, and manganese, in addition to gold.

    Overview

    Prince Silver (CSE:PRNC,OTCQB:PRNCF) is a Vancouver-based exploration company focused on unlocking value at the Prince silver project in southeastern Nevada.

    In July 2025, the company completed a transformational acquisition of Stampede Metals Corporation and subsequently rebranded from Hawthorn Resources to Prince Silver Corp.

    The flagship asset is a district-scale, past-producing silver-gold-zinc-manganese carbonate replacement system, historically mined through the early to mid-1900s. The immediate objective is to validate and expand upon the 129 historic drill holes (over 16,600 meters) to convert the exploration target into a maiden NI 43-101 mineral resource, targeted for the fourth quarter of 2026.

    Company Highlights

    • Flagship Project: 100 percent ownership of the historic Prince silver mine in Lincoln County, Nevada, an open, near-surface silver-gold-zinc carbonate replacement deposit. It has an exploration target of 23 to 45 million tons, with strong historic grades.
    • Fully Funded Drilling Program Underway: A 9,000-meter reverse-circulation drill program is now underway with a steady stream of assay results expected from January to May 2026. This follows an recent funding raise of approximately C$4.75 million in gross proceeds.
    • Clean Corporate Reset: Hawthorn Resources completed the Stampede Metals acquisition and re-listed as Prince Silver Corp. on July 11, 2025.
    • Tight Share Structure: The company has 58.9 million shares issued and outstanding as of February 23, 2026.
    • US Critical Minerals Leverage: The Prince Project hosts critical and strategic minerals on the 2025 USGS list: silver, zinc, lead, and manganese, in addition to gold.
    • Experienced, Hands-on Leadership: President Ralph Shearing, CEO Derek Iwanaka, and new directors Marco Montecinos, Robert Wrixon and Darrell Rader add mine-building, corporate, and capital-markets depth to the leadership team.
    • Expanded Land Position: The land package at the Prince Silver Project has more than doubled, securing over 7 kilometers of prospective strike length along the mineralized fault system.

    Key Projects

    Prince Silver Project

    The Prince silver project is a large-scale, polymetallic Carbonate Replacement Deposit (CRD) located just west of Pioche, a historic mining district in southeastern Nevada. The project hosts a structurally and stratigraphically controlled system of silver-rich mantos, breccias, and fissure veins. Historic underground production between 1912 and 1949 totaled approximately 1.12 million tons (Mt) at average grades of 100 grams per ton (g/t) silver, 4.5 percent zinc, and 10 percent manganese.

    Highlights

    • Geological compilation work has defined an exploration target ranging between 23 and 45 Mt, grading approximately 37 to 40 g/t silver, 1.5 percent zinc, and 0.8 percent lead.
    • The fully-funded 9,000 meter drill program is underway with a steady stream of assay results expected from January to May 2026, targeting a maiden NI 43-101 Mineral Resource Estimate (MRE) in the fourth quarter of 2026.
    • The company recently expanded its land position, securing over 7 kilometers of prospective strike length along the mineralized fault system.

    Stampede Gap Copper-Gold-Molybdenum Project

    The Stampede Gap Copper-Gold-Molybdenum Project is a large, early-stage porphyry target in Nevada featuring over 200 claims. Historical geophysics have identified multiple IP-resistivity anomalies, and a single 700 meter drill hole encountered extensive skarn alteration. Its location is only 150 kilometers south of KGHM’s Robinson copper-gold-silver-molybdenum mine. The project presents a deep-seated exploration target that has the hallmarks of a large-scale copper-molybdenum deposit.

    Management Team

    Derek Iwanaka – Chief Executive Officer and Director

    Derek Iwanaka is a mining-sector executive with over 23 years of investor relations, corporate development, and capital markets experience. He has supported more than 20 corporate transactions and helped raise over US$100 million, including one of Canada’s first at-the-market financings. Iwanaka previously held senior roles at BeMetals and First Mining Gold Corp., contributing to strategic acquisitions, project advancement, and significant market-cap growth.

    Ralph Shearing – President and Director

    Ralph Shearing is a professional geologist and mine developer with over 35 years in mineral exploration development and public company management. Since 1987, Shearing has held senior executive positions with public junior mining and exploration companies, notably Luca Mining, a company he founded and guided through exploration, development, construction, and pre-production of the Tahuehueto mine in Mexico. He currently acts as a Qualified Person for Prince Silver’s technical disclosure.

    Rob Scott – Chief Financial Officer and Corporate Secretary

    Rob Scott’s professional experience has helped raise over $200 million in equity with past and current executive and board positions with TSXV issuers, including Great Bear Resources, Valore Metals, Riverside Resources, Capitan Silver, and First Helium.

    Dr. Robert Wrixon – Independent Director

    Robert Wrixon is the managing director of Starboard Global, a Hong Kong-based project incubator and VC firm. Wrixon is a seasoned executive and engineer with over 20 years’ experience across ASX- and LSE-listed mining companies. He holds a PhD in mineral engineering from UC Berkeley and brings deep technical, corporate development, and mergers and acquisitions experience.

    Darrell Rader – Independent Director

    Darrell Rader is the president and chief executive officer of Minaurum Gold, a silver explorer in Mexico. He has directly raised over $150 million for mineral exploration and development and has strong relationships with institutional investors and bankers. Rader founded Defiance Silver Corp, a silver developer, and previously was the head of corporate development at IMPACT Silver. Rader holds a BBA in Finance from Simon Fraser University.

    Marco Montecinos – Independent Director

    Marco Montecinos has over 40 years of mineral exploration experience across the Americas, including a key role in the three-million-ounce Marlin Gold discovery, multiple gold discoveries, and current roles as chief president of exploration at Gunpoint Exploration and US Critical Metals, as well as president of Tigren, Inc.

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