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S&P 500 Breaking Out Again: What This Means for Your Portfolio

Stock 3 Mins Read

The S&P 500 ($SPX) just logged its fifth straight trading box breakout, which means that, of the five trading ranges the index has experienced since the April lows, all have been resolved to the upside.

How much longer can this last? That’s been the biggest question since the massive April 9 rally. Instead of assuming the market is due to roll over, it’s been more productive to track price action and watch for potential changes along the way. So far, drawdowns have been minimal, and breakouts keep occurring. Nothing in the price action hints at a lasting change — yet.

While some are calling this rally “historic,” we have a recent precedent. Recall that from late 2023 through early 2024, the index had a strong start and gave way to a consistent, steady trend.

From late October 2023 through March 2024, the S&P 500 logged seven consecutive trading box breakouts. That streak finally paused with a pullback from late March to early April, which, as we now know, was only a temporary hiccup. Once the bid returned, the S&P 500 went right back to carving new boxes and climbing higher.

New 52-Week Highs Finally Picking Up

If there’s been one gripe about this rally, it’s that the number of new highs within the index has lagged. As we’ve discussed before, among all the internal breadth indicators available, new highs almost always lag — that’s normal. What we really want to see is whether the number of new highs begins to exceed prior peaks as the market continues to rise, which it has, as shown by the blue line in the chart below.

As of Wednesday’s close, 100 S&P 500 stocks were either at new 52-week highs or within 3% of them. That’s a strong base. We expect this number to continue rising as the market climbs, especially if positive earnings reactions persist across sectors.

Even when we get that first day with 100+ S&P 500 stocks making new 52-week highs, though, it might not be the best time to initiate new longs.

The above chart shows that much needs to align for that many stocks to peak in unison, which has historically led to at least a short-term consolidation, if not deeper pullbacks — as highlighted in yellow. Every time is different, of course, but this is something to keep an eye on in the coming weeks.

Trend Check: GoNoGo Still “Go”

The GoNoGo Trend remains in bullish mode, with the recent countertrend signals having yet to trigger a greater pullback.

Active Bullish Patterns

We still have two live bullish upside targets of 6,555 and 6,745, which could be with us for a while going forward. For the S&P 500 to get there, it will need to form new, smaller versions of the trading boxes.

Failed Bearish Patterns

In the chart below, you can view a rising wedge pattern on the recent price action, the third since April. The prior two wedges broke down briefly and did not lead to a major downturn. The largest pullbacks in each case occurred after the S&P 500 dipped below the lower trendline of the pattern.

The deepest drawdown so far is 3.5%, which is not exactly a game-changer. Without downside follow-through, a classic bearish pattern simply can’t be formed, let alone be broken down from.

We’ll continue to monitor these formations as they develop because, at some point, that will change.

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Viking Acquires Extensive Historical Data for Linka Project

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Viking Mines Ltd (ASX: VKA) (“Viking” or “the Company”) is pleased to announce that it has completed a strategic acquisition of a comprehensive historical technical dataset covering the Linka Project in Nevada, USA. The dataset was purchased for US$35,000 (~A$50,000) and contains extensive records that is estimated to cost in excess of A$1.0 million to replicate at current market rates.

  • Historical dataset acquired representing ~2,816m of historical drilling for a nominal amount of its replacement value.
  • Data includes records for 68 drillholes (8 Diamond and 60 Percussion) across the Linka, Hillside, and Conquest targets.
  • The acquisition provides a major technical shortcut, potentially saving months of field work and significant exploration capital.
  • Extensive historical mapping and cross sections identify high-grade targets and underground workings, enabling rapid 3D geological modelling.
  • The information supports the immediate planning of validation drilling aimed at bringing historical data up to JORC standards.

The acquired data includes high-quality scans of cross-sections and maps from the late 1970s. This information is critical for understanding the location of high-grade zones of the Linka tungsten system without the need to ‘re-discover’ known mineralisation.

Commenting on the historical data acquisition, Viking Mines MD & CEO Julian Woodcock said:

“Sourcing this extensive dataset substantially shortcuts the time required to advance the Linka Project, reduces the capital outlay required and reduces the exploration risk.

“We are extremely fortunate to have been able to source this information and have commenced with converting the information into digital format to bring into 3D geological modelling software.

“Upon completion of the airborne survey at the Project we will have the necessary ground features to accurately georeference the historical maps and sections to allow us to extract the drillhole collar information and build a drillhole database.

“I look forward to interrogating the data and releasing to market as we complete the digitisation process.”

Click here for the full ASX Release

This post appeared first on investingnews.com

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Vanadium Market Forecast: Top Trends for Vanadium in 2026

Investing 6 Mins Read

The vanadium market remained subdued in H1 2025, weighed down by persistent oversupply and weak usage from the steelmaking sector, even as new demand avenues like energy storage gained attention.

Price data shows that vanadium pentoxide in major regions such as the US, China and Europe traded in roughly the US$9,300 to US$13,000 per metric ton range in Q1 and Q2, with no dramatic price spikes. Modest support was provided by demand for vanadium redox flow batteries (VRFBs) and stricter Chinese rebar standards.

Producers reported ongoing pressure on prices and profitability, with oversupply from China and Russia continuing to temper upward momentum and buyers delaying purchases amid resilient feedstock availability.

At the same time, vanadium’s role in long‑duration energy storage, particularly VRFBs, emerged as a potential growth driver as the year progressed, hinting at deeper structural demand beyond traditional industrial uses.

“The expected growth in vanadium demand from VRFBs as an energy storage solution at the grid-level represents a bright future for increased consumption,” a July CRU report reads. “However, the present reality is vanadium consumption is still dominated by use as a ferroalloy (ferrovanadium and vanadium nitride).”

Vanadium market to see structural change?

As 2025 progressed, the vanadium market continue to grapple with weakness as steel production demand struggled to absorb available supply and the broader metals complex remained in the doldrums.

Vanadium pentoxide prices stayed under pressure in most regions, with figures from the second quarter showing US prices near US$9,584, and Chinese prices around US$8,655, reflecting tepid buying activity and ongoing oversupply, even as emerging applications such as VRFBs sustained pockets of interest.

As mentioned, a key factor has been sluggish steel sector demand. Globally, crude steel production has weakened, particularly in China — historically the largest vanadium consumer — slowing vanadium’s traditional core market as rebar and structural steel consumption softened amid broader economic headwinds.

Although new Chinese rebar standards introduced earlier in 2025 mandate higher vanadium intensity in steel, anticipated increases in consumption have only partially materialized, leaving producers competing for limited contracts and putting downward pressure on average ferrovanadium and vanadium pentoxide prices.

At the same time, market participants reported that producers were cutting output and tightening supply in response to persistent low pricing. Several companies in China and the west curtailed production or deferred capital projects, indicating that margins were strained and cost discipline was becoming an industry imperative.

Global vanadium production has been declining since 2021, when the US Geological Survey reported total global output of 105,000 metric tons; that’s compared to 2024’s 100,000 metric tons.

Emerging vanadium demand from energy storage

Despite headwinds, structural changes in vanadium demand were evident in H2 2025.

VRFBs continued to gain momentum as more utility‑scale projects were announced and commissioned. The technology’s appeal lies in its scalability, long cycle life and safety profile compared to conventional lithium‑ion systems; installations in China, Japan and North America point to a slowly growing pipeline of demand outside steel.

Industry analysts have noted that vanadium demand from VRFBs could nearly triple by 2040 as long‑duration storage becomes a more integral part of renewable power grids, even if these applications currently represent a small fraction of total consumption. In China alone, installations of large‑scale VRFB systems were projected to consume tens of thousands of metric tons of vanadium pentoxide equivalent in 2025, offsetting some weakness in steel alloying use.

This bifurcation — weak traditional demand versus nascent battery demand — typified H2, producing a market where prices remained subdued, but underlying interest in new applications suggested a shift in fundamentals.

All eyes on Australia’s vanadium potential

Although US Geological Survey data shows Australia doesn’t currently produce vanadium, the nation holds the largest recorded vanadium reserves at more than 8.5 million metric tons.

Looking to tap this potential, the country has focused its attention on the industrial metal.

In January 2025, Australian Vanadium (ASX:AVL,OTCPL:ATVVF) received environmental approval from Western Australia for the Gabanintha vanadium project. The approval, granted by Minister for Environment Reece Whitby under section 45 of the Environmental Protection Act 1986 (WA), cleared the way for construction and production.

Shortly afterwards, the company’s namesake Australian Vanadium project, located in Western Australia’s Murchison province, earned a green energy major project designation.

The Queensland government has also invested in expanding refinement and processing capacity. Last May, construction began at Queensland’s first resources common user facility at the Cleveland Bay Industrial Park in Townsville.

The facility is designed to support the development, extraction and production of critical minerals, enabling the creation of mineral samples at scale and serving as a testing hub for commercializing production processes.

The government has identified vanadium as the initial focus, highlighting its key role in renewable energy applications.

In November, Western Australia launched a AU$150 million vanadium battery energy storage system project, aiming to make the state a leader in renewable energy and energy storage.

The 50 megawatt/500 megawatt-hour flow battery will use locally sourced and processed vanadium, and is expected to be the largest of its kind in Australia, supporting advanced manufacturing and a domestic supply chain.

Growing energy storage demand meets tightening supply

Looking ahead, analysts forecast that vanadium dynamics will begin to tilt in favor of tighter supply and strengthened pricing, though the timing and pace remain contingent on several variables.

A combination of reduced output and rising consumption — particularly from VRFBs — is expected to push the market toward a deficit by late 2026, encouraging a gradual recovery in vanadium prices.

Central to that shift is the energy transition. Demand for vanadium in long‑duration energy storage is projected to rise sharply as utilities and grid operators seek cost‑effective solutions to buffer renewables and stabilize electricity systems.

The vanadium market’s long‑term promise is underpinned by projections that VRFB deployment could grow at double‑digit rates, even as the bulk of demand remains tied to steel alloying.

On the supply side, a cautionary mood among producers — reflected in delayed project developments and tighter output discipline — may limit new material flowing onto the market in 2026.

With prices remaining below historical averages, many potential expansions are unbankable in the current price environment, meaning that new supply additions are likely to be limited absent a sustained price uptick.

“Vanadium market prices are likely to rise from late 2026, supported by tightening supply and growing demand from VRFBs. With weak prices in 2024 and 2025, driven by sluggish steel demand, vanadium producers have curbed output,” a CRU report published this past December notes.

Analysts at CRU project a late-year rebound, but caution that demand could triple by 2040 far outpacing production.

“Meanwhile VRFB demand is accelerating, evidenced by robust vanadium electrolyte project pipeline,” the firm’s report continues. “Rising demand will quickly run into depressed production, where prices will need to increase to support higher utilisation rates in mid-to late 2026.”

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

This post appeared first on investingnews.com

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Franklin Templeton Advocates for Blockchain Modernization in US$18 Trillion Retirement Market

Investing 6 Mins Read

As calls grow to modernize America’s aging retirement system, Franklin Templeton is positioning blockchain as the key to the next evolution of asset management infrastructure.

In a recent survey of 52 leading retirement industry entities, the global investment firm found near-universal agreement that modernization is urgent. This discovery underscores structural inefficiencies across the US retirement landscape, from legacy administration and fragmented data systems to outdated product delivery models.

In a summary statement accompanying the results of the report, Crossley maintained that “the next phase of modernization won’t just digitize existing systems — it will redefine them.”

US retirement system at inflection point

The executives interviewed, who are responsible for roughly US$18 trillion in assets, described legacy infrastructure as fragmented, inefficient and ill-suited to modern employment patterns and participant expectations.

“We expected (a) debate about the pace of change or which innovations to prioritize. Instead, we heard near-universal agreement that … incremental improvements won’t be enough,’ he continued.

“One participant told us the legacy infrastructure needs to be burned down and built up from scratch. When industry leaders … are that candid about structural deficiencies, it signals we’ve reached a genuine inflection point.”

Crossley explained that there are three forces driving urgency:

  • Traditional safety nets are eroding as Social Security faces funding pressure and defined benefit pensions fall. The expert told INN that defined benefit pensions have shrunk from 68 percent of retirement assets in the mid-1970s to around 28 percent today.
  • Job tenure has shortened dramatically, with Gen Z averaging less than three years per role versus nearly a decade for older cohorts, breaking systems built around long-term work at a single entity.
  • Neobrokers and fintech platforms are increasing the competitive pressure on established companies, attracting younger investors and entering the retirement product market.

How blockchain solves for operational efficiency

While blockchain adoption in retail investment remains gradual, enterprise-level integrations have advanced steadily in recent years. Franklin Templeton itself has issued tokenized money market funds and piloted on-chain share registries.

“Intraday yield enables proportional calculation and distribution of yield, down to the second, when a tokenized security is transferred from one party to another — only made possible by blockchain innovation.”

The firm’s latest research suggests that the same efficiencies could underpin large-scale retirement solutions.

“The core problem in the industry is fragmentation,” Crossley said.

“Retirement data sits in silos across record keepers, plan sponsors, asset managers and benefits administrators, all running separate ledgers that require constant reconciliation,’ he continued, noting that blockchain provides a solution by creating a single shared record that every authorized participant can access simultaneously.

“Beyond that, tokenization allows us to embed rules directly into assets,” Crossley added. “A participant’s 401(k) contribution, their benefits elections (and) their employer match formula can all become programmable contracts that execute automatically. That’s not something a conventional database upgrade can replicate.”

Crossley pointed out that the bulk of retirement administration remains mired in costly, duplicative processes that fail to add value, with record keepers spending about US$12 billion a year servicing plans.

“Blockchain collapses that into a single shared record. When a contribution post or a benefits claim (is processed), every authorized party sees identical data simultaneously,’ he emphasized.

“Smart contracts take it further by automating routine administration. A participant’s contribution rate, investment election and match formula can be encoded into a self-executing contract. The blockchain monitors incoming payroll data and triggers the appropriate actions without manual intervention.”

From account to wallet

As regulatory frameworks mature and data security protocols strengthen, institutional players appear more willing to explore blockchain-based modernization at a broader scale.

If Franklin Templeton’s vision takes hold, the shift from “account to wallet” could mark one of the biggest operational revolutions in retirement management since the 401(k) was introduced nearly half a century ago.

“A wallet-based model consolidates that view. Your retirement contributions, benefits elections and employer match terms become tokens held in a single digital wallet that you control and carry with you across jobs.’

He noted that custodians and asset managers would have to rethink delivery.

‘Instead of being product manufacturers pushing funds into accounts, they become service providers operating within a networked ecosystem where the participant’s wallet is the central hub,’ Crossley said.

Barriers, challenges and regulatory engagement

Despite the promise, Crossley acknowledged that implementation roadblocks still lay ahead.

“Culture may be the steepest climb. The retirement industry has been conditioned by litigation risk to avoid anything nonstandard. Fiduciaries default to the cheapest, most common options because doing something different invites lawsuits. That mindset has to shift before any technology gains traction,’ he said.

“On the technical side, many record keepers still operate on mainframe systems built decades ago. Extracting and standardizing that data for migration is a massive undertaking,’ Crossley continued. In his view, regulatory clarity would be helpful in speeding up adoption, but internal barriers are hindering established franchies.

Franklin Templeton actively engages with regulators worldwide through sandboxes, hearings and white papers to align blockchain innovations with fiduciary standards while fostering investor protection and market growth.

“Our goal is to help build a regulatory environment where new technologies can thrive safely and transparently, unlocking the benefits of blockchain for institutions and individuals alike,’ he said.

‘By working together, we’re not just advancing our own capabilities; we’re helping to set the standard for a more open, resilient and trustworthy financial ecosystem,’ Crossley added. “We believe that the best regulatory frameworks don’t just safeguard investors; they also create the conditions for growth, experimentation and broader participation.”

The future of retirement systems

Crossley envisions a future where tokenized retirement systems operate seamlessly behind the scenes.

“Imagine a system where your retirement plan follows you across every job without paperwork, where your benefits selections automatically adjust when your circumstances change and where an AI-powered assistant actively optimizes your contributions, benefits usage and purchasing power in real time,’ he said.

“Tokenization makes that possible because it transforms static account records into programmable assets. Your 401(k) allocation, your HSA and your employer match formula all become smart contracts that execute automatically based on your preferences and life events. The end state is a retirement system that works continuously in the background rather than something you revisit once a year during open enrollment.”

Franklin Templeton sees gradual progress leading to meaningful adoption within three to five years.

He also noted that some forward-leaning providers are already testing wallet-based delivery for select participant groups. For example, Fidelity Investments offers Bitcoin exposure in 401(k)s via its digital assets account with up to 20 percent allocation and risk controls, while JPMorgan Chase’s (NYSE:JPM) Kinexys supports tokenized fund shares for automated rebalancing and collateral on permissioned networks. US provider ForUsAll enables up to 5 percent crypto self-directed windows via Coinbase Institutional in its Alt401(k) plans for small businesses.

“The question isn’t whether this shift happens,” said Crossley. ‘But whether incumbent players lead it or find themselves responding to competitors who moved first.”

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

This post appeared first on investingnews.com

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Steve Penny: Silver’s Big Move Still to Come, Watch This Price Trigger

Investing 1 Min Read

Steve Penny, founder of SilverChartist.com, shares his thoughts on silver’s price breakout and next move, as well as the gold, platinum, uranium and oil markets.

‘In 1979, silver went up 700 percent, 8X in 12 months. I think that moment still lies ahead,’ he said.

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

This post appeared first on investingnews.com

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Skyharbour Announces Major 2026 Exploration Campaign with Denison Mines at Russell Lake Uranium Joint Ventures

Investing 20 Mins Read

Skyharbour Resources Ltd. (TSX-V:SYH)  (OTCQX:SYHBF) (Frankfurt:SC1P) (‘Skyharbour’, ‘SYH’ or the ‘Company’) is pleased to announce plans for a major 2026 exploration campaign spanning several of the newly-formed Russel Lake joint ventures with Denison Mines Corp. (‘Denison’) (TSX:DML) (NYSE American: DNN). Over 15,000 metres of diamond drilling is planned across the Wheeler North, RL, and Getty East joint ventures, each of which were formed following completion of the strategic transaction with Denison in December 2025 that resulted in a reorganization of the former Russell Lake uranium project into four separate property joint ventures (the ‘Russell Lake Joint Ventures’).

Reorganization of the Russell Lake Project:
https://www.skyharbourltd.com/_resources/images/Russell-Map-New.jpg

The Russell Lake Joint Ventures are strategically located in the central portion of the eastern Athabasca Basin of northern Saskatchewan, to the east of Denison’s flagship Wheeler River project, and with access to significant regional infrastructure, including an exploration camp, provincial highways, and the provincial power grid.

Russell Lake Project Area Location Map:
https://www.skyharbourltd.com/_resources/images/SKY_RussellLake.jpg

Highlights of 2026 Exploration Plans:

  • Immediate start to exploration at Denison-operated Wheeler North property with 2,500 metres planned for winter drilling at the Fox Lake Trail target, where previous drilling identified extensive faulting and intense illite- and dravite-dominated alteration, together with elevated uranium and boron geochemistry which confirms the presence of strong uranium-mineralizing hydrothermal systems.
  • Additional 5,000 metres of drilling at the Wheeler North property’s Fork and Sphinx target areas is planned for later in the year, intending to follow up on drilling from the last two years which confirmed prospective structures and/or uranium mineralization.
  • Target generation and diamond drilling follow up planned for Skyharbour-operated RL property expected to consist of ground EM surveys and 4,000-5,000 metres of diamond drilling across several prospective targets.
  • Ground geophysical surveys and approximately 3,600 metres of diamond drilling targeting the Little Mann Lake prospect area and priority targets along the extension of the mineralized Middle Lake Trend on the Getty East property.
  • In total, over 15,000 metres of diamond drilling planned in 2026 across newly reorganized properties at the Russell Lake Joint Ventures.

Jordan Trimble, President and CEO of Skyharbour, stated: ‘2026 is set to be a transformative year for Skyharbour and the upcoming commencement of drilling at the recently formed Russell Lake joint ventures represents a key near-term catalyst. The planned +15,000-metre, multi-phased drill campaign at Russell is a substantial increase to previous annual drilling programs as we accelerate exploration efforts together with our new funding-partner, Denison, using systematic and proven exploration methodologies. We are confident that this collaboration with Denison will expedite the discovery process and leverage Denison’s success in exploring, permitting, and developing the neighboring Wheeler River Project, where the high-grade Phoenix deposit is positioned to become the next new large-scale uranium mine built in the region since the Cigar Lake mine.’

Mr. Trimble continued: ‘The Russell Lake Joint Ventures encompass one of the largest and most prospective land packages in the Athabasca Basin region, with a combination of proximity to existing and developing mines, as well as low-cost drilling and relatively shallow target depths. Combined with our recently announced plans for drilling in 2026 at our adjacent Moore Project, as well as at our Preston Project JV and various other partner-funded projects, the Company will have consistent news flow throughout 2026. With over 30,000 metres of diamond drilling anticipated across Skyharbour’s project portfolio in 2026, we believe the Company offers unique and significant discovery optionality.’

Wheeler North Property Plans:

Wheeler North consists of 16,409 hectares over eight claims that host numerous prospective exploration targets located adjacent to the Wheeler River Project. Ownership is initially 51% Skyharbour and 49% Denison, with Denison serving as the operator and holding additional earn-in options to achieve up to a 70% ownership interest. 

At Wheeler North, Denison is planning an exploration program comprising approximately 13 diamond drill holes totalling approximately 7,500 metres this year. The work is expected to be sole funded by Denison pursuant to its earn-in options, and is set to commence shortly with a focus on three high-priority target areas: Fork, Sphinx, and Fox Lake Trail (‘FLT’).

At the Fork Zone, previous drilling by Skyharbour confirmed the presence of high-grade uranium mineralization, including the high-grade intersection in drill hole RSL24-02, which returned 3.0% U3O8 over 0.5 metres. Drilling in 2025 identified a broad corridor of intense sandstone and basement alteration associated with favourable geochemistry along strike to the north of hole RSL24-02. Drilling planned for 2026 will focus on systematically testing this intense alteration corridor with the objective of expanding the known mineralized footprint at the Fork Target.

To the northwest of the Fork Zone, the Sphinx target area has emerged as a newly identified, high-priority target area, which is located approximately one kilometre from Denison’s Phoenix deposit. Inaugural drilling completed in 2025 intersected a faulted graphitic unit in the basement, confirming the presence of a prospective reactivated structural corridor at Sphinx. The projected unconformity intersection of this structure is considered a priority follow-up target, with additional drilling planned to test this setting along strike.

At the Fox Lake Trail (‘FLT’) Zone, drilling in 2025 by Skyharbour intersected strong hydrothermal alteration associated with uranium-mineralizing systems, including intense sandstone desilicification, brecciation, fracturing, elevated boron values, and widespread illite- and dravite-dominant clay alteration. Notably, drill hole RSL25-03A intersected a strongly altered sandstone fault zone with boron values up to 5,360 ppm, while RSL25-02 intersected anomalous basement-hosted uranium within a faulted graphitic unit, collectively indicating proximity to a fertile uranium-bearing structural corridor. A focused follow-up program of three to four drill holes is planned to commence in winter 2026, with contingency drill targets available on additional untested conductors within the FLT area.

RL Property Plans: 

The RL property covers 53,192 hectares over 16 claims located north and west of Skyharbour’s adjacent Moore Project. Skyharbour owns an 80% interest and is the project operator while Denison owns 20% and has committed to funding its share of the next $10 million in exploration expenditures on the property. 

The property hosts numerous exploration target areas, including Christie Lake, Blue Steel, Taylor Bay, South Russell, and Kowalchuk Lake. Skyharbour is carrying out electromagnetic (‘EM’) surveys to further refine and prioritize targets along prospective structural corridors and underexplored conductors. This work will be followed by targeted diamond drilling of approximately 4,000 to 5,000 metres this year in 10-14 drill holes, designed to test high-priority targets generated from the integration of historical datasets, recent drilling results, and new geophysical interpretations.

Getty East Property Plans:

Getty East consists of one claim covering 3,105 hectares and hosts the Little Mann Lake uranium zone, as well as the interpreted extension of the Middle Lake trend. Skyharbour owns 70% of the property and will initially act as operator.  Denison has an initial 30% ownership interest, and holds additional earn-in options to acquire up to a 70% interest in the project, as well as the right to become the project operator. The work planned for 2026 is expected to be sole funded by Denison pursuant to its earn-in options.

Skyharbour is planning approximately 16.2 line-kilometres of ground MLTDEM surveying to better define priority conductive corridors associated with the interpreted extension of the Middle Lake trend. Historical drilling on this trend, located to the south of the Getty East property, returned high-grade uranium mineralization, including 22.1% U3O8 over 0.9 metres in drill hole ML-30. The geophysical survey is expected to be followed up by approximately 3,600 metres of diamond drilling in about 10 drill holes to test targets generated from the new geophysics and supported by historical drilling results.

Overview of Recent Skyharbour Exploration Programs at Russell:

Skyharbour recently drilled 19 holes totalling 9,844 metres, together with Moving Loop and Fixed Loop Transient Electromagnetic (TEM) surveys completed across multiple priority target areas within the original Russell Lake project area. This exploration focused on advancing several high-priority targets, including the Fork Zone, M-Zone Extension, Fox Lake Trail, and the newly identified Sphinx target area. Denison and Skyharbour plan to follow-up on the findings of the previously exploration at Russell with the 2026 programs.

First Phase of Exploration:

In the first phase, 8 diamond drill holes totalling 4,124 metres, were completed with 6 of these holes drilled at the newly identified Fork Zone to follow up on the high-grade mineralization intersected in previously reported hole RSL24-02. The remaining 2 holes were drilled at the M-Zone Extension, targeting historical ground EM anomalies.

The Fork Zone was discovered in 2024 and is host to the best uranium mineralization intercepted to date at the Russell Lake project. The highlight results included high-grade unconformity-hosted mineralization intercepted in previously reported RSL24-02, which returned 3.0% U3O8 over 0.5 metres within a broader 2.5-metre interval averaging 0.72% U3O8 at a relatively shallow depth of 338.1 metres. Prior to 2024, the Fork Target had seen minimal historical exploration due to the lack of reliable ground geophysical data, primarily caused by interference from the nearby powerline.

Sphinx and Fork Target Areas – Drill Collar Map:
http://www.skyharbourltd.com/_resources/images/Sphinx-and-Fork-Target-Areas-Drill-Collar-Map-0005.jpg

Hole RSL24-12 at the Fork Zone intersected 0.17% U3O8 over 0.5 metres from 337.8 to 338.3 metres at the unconformity. Anomalous As, Ni, Pb, V, Zn, and B were intersected, in addition to weak uranium mineralization from 330.0 metres until the unconformity at 338.3 metres. Basement geochemistry returned anomalous uranium within altered and structurally disrupted graphitic metasediments. RSL24-12 tested for continuity of mineralization encountered in RSL24-02 to the SSW but the optimum target at the unconformity was undershot thereby warranting further drilling here. Holes RSL24-11, -13, -14, -15, and -16 all intersected anomalous pathfinder elements at the Fork Zone associated with the hanging wall of the structure in graphitic basement lithologies, in addition to anomalous uranium ranging from 11.8(partial) to 150(partial) ppm U.

Fork Target Area – Drill Collar Map:
http://www.skyharbourltd.com/_resources/images/Fork-Target-Area-Drill-Collar-Map-0002.jpg

The MZE (‘M-Zone Extension’) target lies on trend from Denison’s Wheeler River Project M-Zone, where historical drilling intersected basement and unconformity-hosted uranium mineralization. More recent drilling by Denison in 2020 at the M-Zone encountered additional uranium mineralization, along with significant faulting, core loss, geochemical anomalies, and radioactivity. The mineralization at M-Zone is hosted by a graphitic thrust fault within a significant magnetic low, which continues onto the Russell Lake property area at the M-Zone Extension target. It is also noted that lineaments (cross structures) associated with Denison’s Phoenix and Gryphon uranium deposits trend onto the Russell Lake property within the M-Zone Extension target area, further enhancing the prospectivity of this target.

Hole RSL24-17 was drilled to follow up on a 2024 hole at the MZE Zone that was lost in structurally disrupted and altered sandstone before reaching its target. RSL24-17 similarly encountered intense structure and alteration in the sandstone and was lost before intersecting the basement. Hole RSL24-18 intersected moderate hydrothermal hematite within the basal sandstone, and strong shearing locally overprinted by well-developed fault breccia and gouge within the basement. Anomalous uranium was intersected within fractured and altered granitic lithologies.

In addition to the drilling above, focused ground geophysical programs were completed over the Fork, Sphinx and Fox Lake Trail targets within the central and northern portions of the Russell Lake project area. The surveys across the Fork–Sphinx areas identified a series of previously unrecognized conductive anomalies, including four sub-parallel conductors at the Fork area, at least one conductive trend at Sphinx, and an additional parallel trend located between the Fork and Sphinx trends, now referred to as the McGowan trend. All of these conductors were virtually untested prior to the work in 2025. At the Fox Lake Trail area, the survey delineated four parallel conductive trends, of which only two had been drill tested prior to 2025, as earlier surveys failed to adequately resolve these features.

Second Phase of Exploration:

The second phase of drilling comprised of 11 drill holes totaling 5,720 metres, targeting the newly identified, high-priority conductors while also expanding on the successful 2024 discovery at the Fork Zone. Fork is now understood to be a northeast–southwest–trending structural corridor that runs sub-parallel to the historical Grayling Zone and remains largely underexplored. The northern strike extension of the Fork Trend, together with multiple parallel conductive trends to the west, remain virtually untested and represent high-priority targets for follow-up drilling.

Of the 11 holes in the second phase, 6 holes totaling 2,397 metres were completed at the Fork Zone. Hole RSL24-12W1 intersected 2.0 metres averaging 0.28% U3O8, including 0.5 metres of 0.68% U3O8 southwest of hole RSL24-02, confirming continuity along and across strike. A four-hole fence (RSL25-05, -08, -09, and -10) drilled approximately 325 metres north of RSL24-02 tested newly defined, parallel EM conductors located approximately 500 metres west of the historical Grayling showing. These conductors were untested prior to Skyharbour’s 2025 drilling. Holes RSL25-05, -08, and -10 intersected intense sandstone-hosted faulting with bleaching, desilicification, core loss, and clay alteration locally including visible dravite. Hole RSL25-09 intersected a graphitic basement fault zone and clay analyses confirmed illite-dominant alteration with local dravite, consistent with fertile uranium systems in the Athabasca Basin. An additional hole, RSL25-06, drilled approximately 330 metres SSW of RSL24-02, intersected granitic basement and did not explain the EM response. Further drilling in the area is required to adequately test this target with plans in 2026 to do so.

The faulting and associated alteration encountered in RSL25-05, -08, -09, and -10 represent the strongest structural and hydrothermal alteration intensity identified at the Fork Zone to date. This alteration system remains unconstrained along strike in both directions and across strike to the west, highlighting significant upside potential which has already produced grades of up to 3% U3O8 at the target area.

Skyharbour also completed a single drill hole, RSL25-07A, to test a newly identified ground EM conductor at the Sphinx target, representing the first drill test of this target. Sphinx is located approximately one kilometre southeast of the Phoenix deposit on the Wheeler River Project. The hole confirmed the EM anomaly as a faulted and altered graphitic pelite unit, intersected approximately 140 metres below the unconformity. The graphitic fault zone shows evidence of post-Athabasca reactivation and is associated with pervasive bleaching, supporting the interpretation of a structurally fertile system.

Geochemical sampling from RSL25-07A returned elevated uranium and associated pathfinder elements within faulted and graphitic intervals. PIMA analysis identified illite-dominant clay alteration in the sandstone and illite–chlorite alteration in the basement, indicating a well-developed hydrothermal system. Together, these results support the interpretation of a reactivated, structurally focused uranium-fertile corridor at Sphinx. With only one drill hole completed to date and the target located proximal to the Phoenix deposit, Sphinx remains a high-priority target for follow-up drilling planned in 2026.

Furthermore, Skyharbour completed 4 drill holes at the Fox Lake Trail area, located at the northern end of the Russell Lake project area. The drilling tested two of the recently defined conductors by the 2025 ground EM survey within a broad conductive corridor that has seen limited historical drilling with sporadic uranium mineralization and favourable hydrothermal alteration.

Fox Lake Trail Target Area – Drill Collar Map:
http://www.skyharbourltd.com/_resources/images/Fox-Lake-Trail-Target-Area-Drill-Collar-Map_rev-0003.jpg

Holes RSL25-02, RSL25-03A, and RSL25-04 tested the strike extension of the same conductive trend, while hole RSL25-01 tested a parallel conductive target to the southeast. The two drill fences are spaced approximately 800 metres apart. Holes RSL25-03A and RSL25-04 encountered the strongest hydrothermal alteration observed at Fox Lake Trail to date, including brecciation and significant quartz dissolution, while hole RSL25-02 intersected anomalous basement-hosted uranium of 250 ppm U over 0.5 metres within a faulted graphitic unit. Clay analysis confirmed illite- and dravite-dominant alteration. These conductive trends remain largely underexplored along strike, with an additional priority target identified through reinterpretation of historical EM data between the two drill fences, supporting continued follow-up exploration at Fox Lake Trail. Drilling will commence shortly at this target area.

Summary of Russell Lake Joint Ventures:

The Russell Lake Joint Ventures encompass a large, advanced-stage uranium exploration land package totalling 73,314 hectares in the eastern Athabasca Basin of northern Saskatchewan. The properties are strategically positioned between Cameco’s Key Lake and McArthur River operations and immediately east of Denison’s Wheeler River Project.

Following the completion of a major strategic transaction with Denison in 2025, the former Russell Lake project was restructured into four separate joint venture uranium properties: RL, Wheeler North, Getty East, and Wheeler River Inliers. Each property is subject to its own joint venture agreement with operatorship divided between the partners. Skyharbour is the operator at the RL Claims and Getty East, and Denison is the operator at Wheeler North and the Wheeler River Inliers. In aggregate, the strategic transaction included total project consideration of up to C$61.5 million with Skyharbour retaining an 80% interest at RL while Denison can earn up-to 70% at each of the other properties.

The Russell Lake Joint Ventures benefit from excellent regional infrastructure, with the northern extension of Highway 914 traversing the western portion of the land package and a high-voltage provincial powerline running parallel to the road. Across the joint ventures, there are numerous high-priority exploration targets including the Grayling, Fork, Little Mann Lake, Christie Lake, Fox Lake Trail, Sphinx, Blue Steel, Taylor Bay, South Russell, and Kowalchuk Zones. In addition, more than 35 kilometres of largely untested prospective electromagnetic conductors occur across the joint venture properties, highlighting the substantial discovery potential.

QA/QC, Radiometric Equivalent Grades and Spectrometer Readings:

All drill intervals above are downhole length and sampling procedures and QA/QC protocols for geochemical results as well as a description of downhole gamma probe grade calculations and protocols are below. All drill core samples are shipped to the Saskatchewan Research Council Geoanalytical Laboratories (SRC) in Saskatoon, Saskatchewan under the care of Skyharbour personnel for preparation, processing, and multi-element analysis by ICP-MS and ICP-OES using total (HF:NHO3:HClO4) and partial digestion (HNO3:HCl), boron by fusion, and U3O8 wt% assay by ICP-OES using higher grade standards. Assay samples are chosen based on downhole probing radiometric equivalent uranium grades and scintillometer (Radiation Solutions RS-125) peaks. Assay sample intervals comprise 0.5 metre continuous half-core split samples over the mineralized interval. These samples may also be selected for density determination using Rock Density by Dry Bulk Method (wax-coated displacement method). With all assay samples, one half of the split sample is retained and the other sent to the SRC for analysis. The SRC is an ISO/IEC 17025/2005 and Standards Council of Canada certified analytical laboratory. Blanks, standard reference materials, and repeats are inserted into the sample stream at regular intervals by Skyharbour and the SRC in accordance with Skyharbour’s quality assurance/quality control (QA/QC) procedures. Geochemical assay data are subject to verification procedures by qualified persons employed by Skyharbour prior to disclosure.

During active exploration programs, drillholes are radiometrically logged using calibrated downhole Mount Sopris HLP-2375 or 2GHF probes of varying sensitivities, which collect continuous readings along the length of the drillhole. Preliminary radiometric equivalent uranium grades (‘eU3O8‘) are then calculated from the downhole radiometric results. The probe is calibrated using an algorithm calculated from the calibration of the probe at the Saskatchewan Research Council facility in Saskatoon and from the comparison of probe results against geochemical analyses. In the case where core recovery within a mineralized intersection is poor or non-existent, radiometric grades are considered to be more representative of the mineralized intersection and may be reported in the place of assay grades. Radiometric equivalent probe results are subject to verification procedures by qualified persons employed by Skyharbour prior to disclosure. 

Qualified Person:

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Serdar Donmez, P.Geo., VP of Exploration for Skyharbour, as well as a Qualified Person.

About Skyharbour Resources Ltd.:

Skyharbour holds an extensive portfolio of uranium exploration projects in Canada’s Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with interest in forty-three projects covering over 662,887 hectares (over 1.6 million acres) of land. Skyharbour owns a 100% interest in the Moore Uranium Project, which is located 15 kilometres east of Denison’s Wheeler River project and 39 kilometres south of Cameco’s McArthur River uranium mine. Moore is an advanced-stage, uranium exploration property with high-grade, shallow uranium mineralization at the Maverick Zones. Adjacent to Moore, Skyharbour is advancing several uranium properties within the Russell Lake project area with its joint venture partner and large strategic shareholder Denison Mines. Collectively these projects host multiple zones of high-grade uranium mineralization across a highly prospective land package with significant exploration upside, and the Company is actively working these assets through exploration and drilling programs.

Skyharbour now has joint ventures with industry-leaders Denison Mines and Orano Canada Inc. at the Russell Lake properties and the Preston project, respectively. The Company also has several active earn-in option partners, including CSE-listed Nexus Uranium Corp. at the Mann Lake Uranium Project; TSX-V listed North Shore Uranium at the Falcon Project; UraEx Resources at the South Dufferin and Bolt Projects; Hatchet Uranium at the Highway Project; CSE-listed Mustang Energy at the 914W Project; and TSX-V listed Terra Clean Energy at the South Falcon East Project. In aggregate, Skyharbour has now signed earn-in option agreements with partners that total to potentially over $76 million in partner-funded exploration expenditures and over $42 million in cash and share payments coming into Skyharbour, assuming that these partner companies complete the earn-ins at their respective projects.

Skyharbour’s goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.

Skyharbour’s Uranium Project Map in the Athabasca Basin:
https://www.skyharbourltd.com/_resources/images/SKY_SaskProject_Locator_2025-12-16.jpg

To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com.

Skyharbour Resources Ltd.

‘Jordan Trimble’

Jordan Trimble
President and CEO

For further information contact myself or:

Nicholas Coltura
Corporate Communications Manager
Skyharbour Resources Ltd.
Telephone: 604-558-5847
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Forward-Looking Information:

This news release contains ‘forward‐looking information or statements’ within the meaning of applicable securities laws, which may include, without limitation, completing ongoing and planned work on its projects including drilling and the expected timing of such work programs, other statements relating to the technical, financial and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of uranium, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses, and those filed under the Company’s profile on SEDAR+ at www.sedarplus.ca. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather or climate conditions, failure to obtain or maintain all necessary government permits, approvals and authorizations, failure to obtain or maintain community acceptance (including First Nations), decrease in the price of uranium and other metals, increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.

News Provided by GlobeNewswire via QuoteMedia

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Stock

S&P 500 Breaking Out Again: What This Means for Your Portfolio

Stock 3 Mins Read

The S&P 500 ($SPX) just logged its fifth straight trading box breakout, which means that, of the five trading ranges the index has experienced since the April lows, all have been resolved to the upside.

How much longer can this last? That’s been the biggest question since the massive April 9 rally. Instead of assuming the market is due to roll over, it’s been more productive to track price action and watch for potential changes along the way. So far, drawdowns have been minimal, and breakouts keep occurring. Nothing in the price action hints at a lasting change — yet.

While some are calling this rally “historic,” we have a recent precedent. Recall that from late 2023 through early 2024, the index had a strong start and gave way to a consistent, steady trend.

From late October 2023 through March 2024, the S&P 500 logged seven consecutive trading box breakouts. That streak finally paused with a pullback from late March to early April, which, as we now know, was only a temporary hiccup. Once the bid returned, the S&P 500 went right back to carving new boxes and climbing higher.

New 52-Week Highs Finally Picking Up

If there’s been one gripe about this rally, it’s that the number of new highs within the index has lagged. As we’ve discussed before, among all the internal breadth indicators available, new highs almost always lag — that’s normal. What we really want to see is whether the number of new highs begins to exceed prior peaks as the market continues to rise, which it has, as shown by the blue line in the chart below.

As of Wednesday’s close, 100 S&P 500 stocks were either at new 52-week highs or within 3% of them. That’s a strong base. We expect this number to continue rising as the market climbs, especially if positive earnings reactions persist across sectors.

Even when we get that first day with 100+ S&P 500 stocks making new 52-week highs, though, it might not be the best time to initiate new longs.

The above chart shows that much needs to align for that many stocks to peak in unison, which has historically led to at least a short-term consolidation, if not deeper pullbacks — as highlighted in yellow. Every time is different, of course, but this is something to keep an eye on in the coming weeks.

Trend Check: GoNoGo Still “Go”

The GoNoGo Trend remains in bullish mode, with the recent countertrend signals having yet to trigger a greater pullback.

Active Bullish Patterns

We still have two live bullish upside targets of 6,555 and 6,745, which could be with us for a while going forward. For the S&P 500 to get there, it will need to form new, smaller versions of the trading boxes.

Failed Bearish Patterns

In the chart below, you can view a rising wedge pattern on the recent price action, the third since April. The prior two wedges broke down briefly and did not lead to a major downturn. The largest pullbacks in each case occurred after the S&P 500 dipped below the lower trendline of the pattern.

The deepest drawdown so far is 3.5%, which is not exactly a game-changer. Without downside follow-through, a classic bearish pattern simply can’t be formed, let alone be broken down from.

We’ll continue to monitor these formations as they develop because, at some point, that will change.

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Investing

More High-Grade Gold in Extensional Drilling Points to Growth Potential at Kamperman

Investing 5 Mins Read

Astral Resources NL (ASX: AAR) (Astral or the Company) is pleased to report assay results received from a 17-hole reverse circulation (RC) drill program for 2,954 metres completed at the Kamperman Deposit, part of its 100%-owned Feysville Gold Project (Feysville), located ~14km south of Kalgoorlie in Western Australia (Figure 1).

HIGHLIGHTS

Feysville Project

  • Assay results received for 17 RC holes (2,954m) drilled recently at Kamperman, part of the 100%-owned Feysville Gold Project in WA. The program tested a variety of targets designed both to increase the Mineral Resource and improve understanding of the deposit, with a specific focus on high-grade zones. Best results include:
    • 14m at 6.79g/t Au from 192m including 2m at 23.8g/t Au from 193m (FRC463)
    • 13m at 6.60g/t Au from 44m including 1m at 57.6g/t Au from 46m and 1m at 10.9g/t Au from 48m, 4m at 2.06g/t Au from 62m and 4m at 3.81g/t Au from 88m (FRC457)
    • 21m at 3.11g/t Au from 115m including 1m at 13.4g/t Au from 132m (FRC460)
    • 15m at 3.70g/t Au from 123m including 1m at 16.4g/t Au from 124m and 1m at 21.1g/t Au from 135m, 6m at 2.79g/t Au from 158m, 23m at 2.57g/t Au from 180m including 3m at 13.7g/t Au from 197m and 3m at 2.57g/t Au from 208m (FRC452)
    • 14m at 2.66g/t Au from 179m (FRC461)
    • 27m at 0.78g/t Au from 21m and 25m at 1.68g/t Au from 50m including 1m at 11.7g/t Au from 59m and 1m at 10.5g/t Au from 62m (FRC453)
    • 6m at 4.10g/t Au from 210m including 1m at 13.4g/t Au from 212m (FRC454)
  • The drill program has confirmed the presence of north-west striking high-grade gold mineralisation that is not currently included in the Kamperman Mineral Resource model, as well as confirming depth extensions to the southern lode and additional high-grade mineralisation in the footwall of the southern lode.
Mandilla Project
  • A 4-hole (1,641m) DD program has been completed on the eastern flank of the Theia deposit, part of the 100%-owned Mandilla Gold Project. The drill program was designed to test for a potential steeply dipping sub-parallel mineralised structure to the east of Theia. Best results include:
    • 4.15m at 33.2g/t Au from 164.3m including 0.5m at 269.6g/t Au from 165m, 12.13m at 1.29g/t Au from 173.87m including 0.3m at 23.4g/t Au from 173.87m and 1.79m at 6.21g/t Au from 253.47m including 0.58m at 17.6g/t Au from 253.82m (AMRCD140)
    • 0.3m at 30.7g/t Au from 336.26m (AMRCD139)
  • Quartz, pyrite and visible gold1 were intersected in each of the four holes, confirming the potential for Theia to host additional mineralised structures.
  • A 3-hole (775.6-m) DD program was also completed at Theia. The program was designed to target a previously intersected “230 Shear” structure. Drilling successfully intersected this distinct, narrow high-grade shear zone with best results including:
    • 1.57m at 22.8g/t Au from 168.59m including 0.6m at 59.2g/t Au from 169.56m, 7.12m at 1.42g/t Au from 175.08m including 0.3m at 25.9g/t Au from 175.51m, 8.73m at 0.95g/t Au from 222.44m and 4.90m at 1.28g/t Au from 259m including 0.3m at 13.7g/t Au from 262.07m (AMRCD137)
    • 2.27m at 4.94g/t Au from 161m including 0.47m at 22.8g/t Au from 161.93m and 5.33m at 1.08g/t Au from 202.85m (AMRCD138)

Astral Resources’ Managing Director Marc Ducler said: “The assay results from the recent RC program at Feysville have demonstrated the excellent potential for both the overall gold grade and the deposit size at Kamperman to increase.

“The program was highly successful in achieving its aims to extend interpreted high-grade gold zones beyond the existing Mineral Resource.

“The centrally located drill-hole, FRC457, returned an outstanding intercept of 13m at 6.60g/t Au, representing a very successful extension to a north-west striking high-grade ore shoot which appears to be projecting beyond the current deposit limits.

“Drill-hole FRC463 also returned a spectacular high-grade intercept. Drilled south and well beyond the current Resource testing for a south-plunging ore zone at depth, drilling successfully intersected 14m at 6.79g/t Au from 192m, to confirm one of our deepest zones of high-grade gold mineralisation so far and providing us with a hint of the greater potential still remaining at Kamperman.

“Over the Christmas period, Astral received notice from the DMPE of the grant of our Mining Licence application over areas of Feysville. This marks an important step as we progress towards submission of the Mining Proposal and execution of a JV agreement with Mineral Mining Services for the development of the Think Big Gold Mine. This would establish an early revenue opportunity for Astral against the backdrop of record gold prices to assist with securing overall development funding for the Mandilla Gold Project.

“Meanwhile at the cornerstone Theia deposit at Mandilla, we received assay results from two diamond drill programs, with further outstanding high-grade intercepts recorded.

“The first, a 3-hole program targeting the “230 Shear”, returned results such as 1.57m at 22.7g/t Au and 2.27m at 4.94g/t Au in separate holes, confirming the presence of this discrete, narrow, high-grade shear zone which strikes through the main Theia deposit.

“Importantly the shear, intersected in all three holes, remains mineralised at depth, with the potential to delineate additional sub-parallel repeats both within and extensional to Theia.

“A second 4-hole diamond drill program tested a potential steeply dipping sub-parallel structure to the east of Theia. As an initial positive sign visible gold was logged in all four holes, with a best result including a very high-grade intersection of 4.15m at 33.2g/t Au from 164.3m in hole AMDRCD137.

“Following our successful capital raise completed in December, Astral has funds on hand to maintain an aggressive exploration focus and complete the Mandilla DFS targeting a Final Investment Decision – all while maintaining a significant component of the equity requirement for development of the Mandilla Gold Project.

“Astral has ramped up exploration activities for 2026 with three drill rigs (2 RC and 1 DD rig) currently operating on site.”

Click here for the full ASX Release

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Walker Lane Resources Ltd. Completes an Updated Mineral Resource and Plans in 2026 to Advance Exploration Efforts and a Preliminary Economic Assessment in its Silver Hart Project, Yukon, Canada

Investing 12 Mins Read

TSX-V: WLR
Frankfurt: 6YL

Standards of Disclosure for Mineral Projects and its Companion Policy 43-101CP with an effective date of January 6, 2026.

The report was co-authored by Ronacher McKenzie Geosciences Inc. who conducted a site visit in 2025 to verify work completed since the 2021 season that has been reported by WLR which included a drill program in 2022, a minor sampling program on the Silver Hart claims in 2024, completion of a trenching program and minor reconnaissance efforts on the adjoining and acquired Blue Heaven claims in 2024, and reclamation programs on all of the claims in 2023 and 2024.

Subject to financing WLR intends to conduct drilling, socio-economic, environmental and engineering studies and initiate a Preliminary Economic Assessment of the Silver Hart Project in 2026.

The CIM Standards require that an estimated mineral resource must have reasonable prospects for eventual economic extraction. A summary of the SHP mineral resource economic and technical parameters and/or assumptions is presented in Table 1 below. A pit-shell was optimized based on silver equivalent values calculated using the economic parameters in the table.

Table 1: Summary of the Siver Hart Project Economic and Technical Parameters/Assumptions

Item

Units

Extended

Mining cost

CAD$/t all material

10.00

Processing cost

CAD$/t crude feed

25.50

G&A cost

CAD$/t crude feed

5.00

Exchange rate

CAD$ to US$

0.75

Ag price

USD$/oz

23.30

Pb price

US$/metric tonne

1,892

Zn price

US$/metric tonne

2,505

Metallurgical recovery

Percentage

80

Overall pit slope

Degrees

45

Silver Equivalent Calculation:  AgEq g/t = [(Ag ppm x %Rec. x Price/g) + (Pb ppm x %Rec. x Price/g) + (Zn ppm x %Rec. x Price/g)]/ (Ag Price/g x %Rec).
Note: Rec. = metallurgical recovery. AgEq=Silver Equivalent.

Block grade interpolation was performed using the ordinary kriging (OK) technique. The estimated pit constrained mineral resources were classified as Inferred, despite some close drill hole spacing in some zones and the continuity of mineralization as confirmed by variography, mainly because of the lack of substantiated metal recoveries and suspect collar surveys. Table 2 summarizes the update MRE fpr the Silver Hart Project effective as at January 6, 2026.

Table 2: Silver Hart Project – Pit Constrained Mineral Resources at a Cut-off Grade of AgEq>=50 g/t 

Mining Method

Domain

Mass (Tonnes)

Average Value

Material Content

AgEq g/t

Ag g/t

Pb %

Zn %

AgEq

Million oz

Ag Million oz

Pb

Million lb

Zn

Million lb

Open

Pit

TM_Zone

269,000

229.8

152.7

0.56

1.88

1.985

1.319

3.3

11.1

S_Zone

127,000

334.5

262.1

0.36

1.90

1.368

1.072

1.0

5.3

KL_Zone

1,026,000

110.9

35.7

0.11

2.17

3.659

1.178

2.5

49.0

K_Zone

265,000

79.8

14.2

0.09

1.90

0.680

0.121

0.5

11.1

M_Zone

202,000

173.6

98.1

0.58

1.82

1.128

0.637

2.6

8.1

Total

1,889,000

145.2

71.3

0.24

2.03

8.820

4.327

9.9

84.7

Notes:

1.

The effective date of this mineral resource statement is January 6, 2026.

2.

The qualified person responsible for this Mineral Resource Estimate (MRE) is Charley Murahwi, M.Sc., P.Geo., FAusIMM.

3.

The mineral resources have been estimated in accordance with the CIM Best Practice Guidelines (2019) and the CIM Definition Standards (2014)

4.

Ordinary Kriging (OK) interpolation was used with a single block size of 5m x 5m x 5m.

5.

The Economic & Technical parameters/assumptions are summarized in Table 1.1 above.

6.

The mineral resource results are presented in-situ within the optimized pit. Mineralized material outside the pit has not been considered as a part of the current MRE.

7.

The tonnes and metal contents are rounded to reflect that the numbers are an estimate and any discrepancies in the totals are due to the rounding effects.

8.

Mineral resources unlike mineral reserves do not have demonstrated economic viability.

The report also noted that:

  • All the deposits remain open along strike in both directions and down dip, and, in particular, the largest deposit (KL zone). The likelihood of some of the deposits merging (i.e., K to KL, TM main to H and S to M) cannot be ruled out if a program of step out and infill drilling is implemented.
  • The growth potential for the mineral resource is satisfactory as the deposits remain open for expansion in all directions (i.e., strike in both directions and down dip).
  • Prospects for growing the resource via new discoveries appear favorable based on the fact that several known mineral occurrences and anomalies within the Silver Hart and the adjacent Blue Heaven claims remain to be test drilled for resource evaluation.
  • The early initial metallurgical tests completed previously in 1986 and, in 2006, do not have substantiated documentation regarding representativity and location of the samples and, thus, the need for a fresh start is warranted. Nonetheless, the general response of lead, zinc and silver to flotation in those early tests was generally positive.

The NI-43-101 MRE report has been filed on its SEDAR+ profile and will soon be published on the Company’s website at www.walkerlaneresources.com

Kevin Brewer, President and CEO of WLR, commented ‘The MRE is a major milestone in our exploration efforts at Silver Hart. The MRE was estimated at prices much lower than current spot metal prices, which if used in the silver equivalent calculation in the MRE calculation result in an improved silver equivalent grade. You can do the math. As a result, WLR now intends to advance our evaluation of this project to consider a production decision in the short term. Mineralization in all of the zones in the Silver Hart Project start at surface and therefore are expected to be amenable to small scale open pit mining. WLR and its predecessor company CMC Metals Ltd. have been working on this project for 20 years and it is now prepped to take the project to the next stage.’

Next Steps – Highlights of Proposed 2026 Exploration Program and Preparation of a Preliminary Economic Assessment

Walker Lane Resources Ltd. also announced that it is preparing to commence planning for the next stage of its exploration program and evaluation of the Silver Hart Project which will contribute to a potential development decision for the project.

Subject to financing, WLR intends to:

  • Complete 1,500-2,000 meters of exploration drilling to (i) extend the resources on the TM Zone (ii) to conduct infill drilling in the TM Zone with the objective of converting a majority of the inferred resources to indicated resources.
  • Conduct 1,000-1,500 meters of exploratory drilling on known areas of mineralization on the Blue Heaven claims.
  • Metallurgical testing including pre-concentration (ore sorting / dense heavy media separation) assessments.
  • Conduct additional environmental and socio-economic studies to support a possible development application for the project. This is expected to include examining opportunities for partnerships with local First Nations.
  • Initiate a Preliminary Economic Assessment of the project which will include preliminary engineering and a preliminary transportation/logistics analysis.

Qualified Persons

The resource evaluation work was completed by Mr. Charley Murahwi, M.Sc. P.Geo., FAusIMM and Richard Gowans, B.Sc, P.Eng of MICON International Limited. Mr. Murahwi conducted a personal inspection of the Silver Hart Project on August 17-20, 2021. Dr. Gloria Lopez, PhD, P.Geo. of Ronacher-McKenzie Geosciences Inc. was a contributing author and conducted a personal inspection of the Silver Hart Project on September 16, 2025. This information release has also been reviewed and approved by the Qualified Persons.

About Walker Lane Resources Ltd.

Walker Lane Resources Ltd. is a growth-stage exploration company focused on the exploration of high-grade gold, silver and polymetallic deposits in the Walker Lane Gold Trend District in Nevada and the Rancheria Silver District in Yukon/B.C. and other property assets in Yukon. The Company intends to initiate an aggressive exploration program to advance the Tule Canyon (Walker Lane, Nevada) and Amy (Rancheria Silver District, B.C.) projects through drilling programs with the aim of achieving resource definition in the near future.

For more information, please consult the Company’s filings, available at www.sedarplus.ca. Also please feel free to call Kevin at the number below.

ON BEHALF OF THE BOARD OF DIRECTORS

Kevin Brewer
CEO and Director
Walker Lane Resources Ltd.

Cautionary and Forward Looking Statements

This press release and related figures and/or tables, contain certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to as forward-looking statements). These statements relate to future events or our future performance. All statements other than statements of historical fact are forward-looking statements. The use of any of the words ‘anticipate’, ‘plans’, ‘continue’, ‘estimate’, ‘expect’, ‘may’, ‘will’, ‘project’, ‘predict’, ‘potential’, ‘should’, ‘believe’ ‘targeted’, ‘can’, ‘anticipates’, ‘intends’, ‘likely’, ‘should’, ‘could’  or grammatical variations thereof and similar expressions is intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These statements speak only as of the date of this presentation. These forward-looking statements include, but are not limited to, statements concerning: our strategy and priorities including certain statements included in this presentation are forward-looking statements within the meaning of Canadian securities laws, including statements regarding the Tule Canyon, Cambridge, Silver Mountain, and Shamrock Properties in Nevada (USA), and its properties including Silverknife and Amy properties in British Columbia, the  Silver Hart, Blue Heaven and Logjam properties in Yukon all of which now comprise the mineral property assets of WLR. WLR has assumed other assets of CMC Metals Ltd. including common share holdings of North Bay Resources Inc. (OTC-US: NBRI) and all conditions and agreements pertaining to the sale of the Bishop mill gold processing facility and remain subject to the condition of the option of the Silverknife property with Coeur Mining Inc. (TSX:CDE). These forward-looking statements reflect the Company’s current beliefs and are based on information currently available to the Company and assumptions the Company believes are reasonable. The Company has made various assumptions, including, among others, that: the historical information related to the Company’s properties is reliable; the Company’s operations are not disrupted or delayed by unusual geological or technical problems; the Company has the ability to explore the Company’s properties; the Company will be able to raise any necessary additional capital on reasonable terms to execute its business plan; the Company’s current corporate activities will proceed as expected; general business and economic conditions will not change in a material adverse manner; and budgeted costs and expenditures are and will continue to be accurate.

Actual results and developments may differ materially from results and developments discussed in the forward-looking statements as they are subject to a number of significant risks and uncertainties, including: public health threats; fluctuations in metals prices, price of consumed commodities and currency markets; future profitability of mining operations; access to personnel; results of exploration and development activities, accuracy of technical information; risks related to ownership of properties; risks related to mining operations; risks related to mineral resource figures being estimates based on interpretations and assumptions which may result in less mineral production under actual conditions than is currently anticipated; the interpretation of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; changes in operating expenses; changes in general market and industry conditions; changes in legal or regulatory requirements; other risk factors set out in this presentation; and other risk factors set out in the Company’s public disclosure documents. Although the Company has attempted to identify significant risks and uncertainties that could cause actual results to differ materially, there may be other risks that cause results not to be as anticipated, estimated or intended. Certain of these risks and uncertainties are beyond the Company’s control. Consequently, all of the forward-looking statements are qualified by these cautionary statements, and there can be no assurances that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences or benefits to, or effect on, the Company.

The information contained in this presentation is derived from management of the Company and otherwise from publicly available information and does not purport to contain all of the information that an investor may desire to have in evaluating the Company. The information has not been independently verified, may prove to be imprecise, and is subject to material updating, revision and further amendment. While management is not aware of any misstatements regarding any industry data presented herein, no representation or warranty, express or implied, is made or given by or on behalf of the Company as to the accuracy, completeness or fairness of the information or opinions contained in this presentation and no responsibility or liability is accepted by any person for such information or opinions. The forward-looking statements and information in this presentation speak only as of the date of this presentation and the Company assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law. Although the Company believes that the expectations reflected in the forward-looking statements and information are reasonable, there can be no assurance that such expectations will prove to be correct. Because of the risks, uncertainties and assumptions contained herein, prospective investors should not read forward-looking information as guarantees of future performance or results and should not place undue reliance on forward-looking information. Nothing in this presentation is, or should be relied upon as, a promise or representation as to the future. To the extent any forward-looking statement in this presentation constitutes ‘future-oriented financial information’ or ‘financial outlooks’ within the meaning of applicable Canadian securities laws, such information is being provided to demonstrate the anticipated market penetration and the reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such future-oriented financial information and financial outlooks. Future-oriented financial information and financial outlooks, as with forward-looking statements generally, are, without limitation, based on the assumptions and subject to the risks set out above. The Company’s actual financial position and results of operations may differ materially from management’s current expectations and, as a result, the Company’s revenue and expenses. The Company’s financial projections were not prepared with a view toward compliance with published guidelines of International Financial Reporting Standards and have not been examined, reviewed or compiled by the Company’s accountants or auditors. The Company’s financial projections represent management’s estimates as of the dates indicated thereon.

SOURCE Walker Lane Resources Ltd

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Cyprium Metals Limited (ASX: CYM) – Trading Halt

Investing 1 Min Read

Trading in the securities of Cyprium Metals Limited (‘CYM’) will be halted at the request of CYM, pending the release of an announcement by CYM.

Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of:

  • the commencement of normal trading on Friday, 23 January 2026; or
  • the release of the announcement to the market.

CYM’s request for a trading halt is attached below for the information of the market.

Issued by
ASX Compliance

Click here for the full ASX Release

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