Kirill Klip

Lithium Universe Confirms Signs of Life: Humanoid Robots Supercharge rEVolution - Will They Save Us?

2026-06-06T08:15:42.609-07:00

"Lithium Universe confirms signs of intelligent life with Lithium prices making back-to-back advances in the last few weeks in China. Lithium LCE prices surged to CNY200,500 in May 2026."

Lithium Universe Confirms Signs of Intelligent Life. TNR Gold's Royalty Nears as Ganfeng's Mariana Lithium Ships First Lithium Chloride

Lithium Universe confirms signs of life with humanoid robots charging energy rEVolution. Will they save humanity from ourselves? Can artificial intelligence open a new chapter of history, a renaissance for humans, embracing science, art and solid values of honest hard work?

Can we make the full circle and become Humans again? Or is the downward spiral of corruption inevitable now, following the crash of AI hopes multiplied by Crypto scams? Can we embrace "The Fourth Turning" without tearing apart the entire fabric of our Western civilisation?

Nobody knows the future, but we know where we are going, and hungry robots, harvesting old lithium batteries from our waste bins, can become a reality much faster than a lot of people anticipate.

Now, TNR Gold is fully charged, and our Team is ready to navigate our Company towards our well-defined strategic goals for the benefit of all our shareholders.

Today, we can look at the maps together, go deeper into details and analyse the signs of life registered by our early warning systems in the Lithium Universe.

Chart by Nicholas Winton

"The TNR Gold Team delivered a 240% increase in share price during 2025. Building on this momentum, the company’s share price has risen an additional 53% year-to-date through April 6, 2026. The market responded positively to the announcement of the Strategic Investment by Altius Minerals, with TNR Gold shares trading as high as C$0.27 and closing at C$0.26, an increase of approximately 30%, following the announcement."

TNR Gold Nears First Lithium Royalty Payment Following Strategic Altius Investment

GEM Royalty TNR Gold Corp.

“TNR Gold Corp is your gateway to the green energy rEVolution and gold stability! We're building a leading green energy metals royalty and gold company, offering a unique entry into the supply chains powering the energy transition. With a 1.5% NSR royalty (of which 0.15% is held on behalf of a shareholder) on the Mariana Lithium Project in Argentina, operated by Ganfeng Lithium, and a 0.4% NSR (of which 0.04% is held on behalf of a shareholder) on the massive Los Azules Copper Project with McEwen Mining—backed by giants like Rio Tinto and Stellantis—we’re positioned for significant cash flows without the capital burden. Add to that our 90% stake in the Shotgun Gold Project in Alaska, near the Donlin Gold deposit, with 705,960 ounces of inferred gold resources, and we’re a diversified powerhouse. TNR delivers exposure to lithium, copper, silver and gold, blending blue-sky discovery with partnerships that drive value—perfect for investors seeking growth and a hedge in today’s economic cycle!”

Kirill Klip, Executive Chairman,

TNR Gold Corp.

Dear Shareholders,

I am delighted to extend my warmest congratulations to all of you today.

I am very pleased to report that we have now completed the private placement of Altius' strategic investment in TNR Gold. This important milestone marks a significant achievement for TNR Gold and underscores the continued confidence in our projects and strategy.

It gives me great pleasure to share that Mr Market has recognised our success, with TNR Gold shares closing at 25.5 cents yesterday. This represents a 50% increase year-to-date, delivered by the dedicated TNR Gold team. The strong performance builds upon the exceptional 240% increase achieved in the prior year.

We remain committed to advancing our initiatives and delivering long-term value for our shareholders.

None of this would have been possible without your unwavering support and trust in our talented Team. On behalf of the entire TNR Gold Team, I extend our deepest gratitude.

Thank you for your continued support.

Our guiding principle remains unchanged: "Solid values in uncertain times.”

Best, and stay safe.

Kirill Klip,

Executive Chairman

TNR Gold Team

We build wealth for our Shareholders.

The Mining Alliance of Trust

There is no investment advice in any of our posts.

Always consult a qualified financial adviser before making any investment decisions.

Do Your Own Research.

TNR Gold Nears First Lithium Royalty Payment Following Strategic Altius Investment

"Altius Minerals Corporation is a prominent Canadian diversified mining royalty company. This royalty giant with a $3B market cap is made in Canada and distinguished by deep expertise and a commitment to excellence. With deep roots in project generation, relationship-building, and business nurturing, Altius stands out as a rising star in the royalty sector."

(Only publicly available information is used on this Blog and any Kirill Klip and TNR Gold social media feeds.)

"Meanwhile, following this announcement and when we do not have any material news to share with all of you, according to all legal requirements and regulations, I have significantly boosted my stake in TNR Gold by acquiring an additional 500,000 shares. I continue to increase my position. TNR Gold’s Chief Financial Officer, Maurice Brian Brooks, and John K. Davies, Chair of the Audit Committee, have recently purchased shares in the open market."

This strategic investment by Altius, combined with insider buying, positions TNR Gold to capitalise on its unique royalty portfolio and partnerships with leading operators, while advancing value creation for all shareholders.

"After months of diligent negotiations, in line with our announced Strategy of Corporate Development, we are delighted to welcome Altius, a CAN$2.9B market-cap royalty company, as a strategic investor in TNR Gold. It is a strategic, non-control position that signals confidence in our Company.

We received our first "Michelin Star", and Mr Market celebrated with us this time. TNR Gold shares traded as high as 27 cents and closed at 26 cents yesterday, jumping 30% after this announcement."

The Altius team shares the fundamental values, vision, and strategic objectives of the TNR Gold team for building the Green Energy Metals Royalty and Gold Company. This strategic investment enables TNR Gold to advance the execution of our strategic plan, elevating our vision of building a new, dynamic royalty and gold company to the next level. It further reflects strong market recognition of the quality of our assets and their potential by our strategic partners.

The potential of our royalty portfolio is now well recognised across the industry, and in the next very important stage, we will tell our GEM Royalty Story to Mr Market and Institutional Investors, whose participation will help us achieve our well-defined goals.

Kirill Klip, Executive Chairman of TNR Gold stated, “We are delighted to welcome Altius as a strategic, non-controlling investor in TNR Gold. The closing of this investment enables TNR Gold to advance the execution of its strategic plan and reflects strong market recognition of the quality of our assets and their potential.”

Kirill Klip continued, “Our business model provides a unique entry point into the creation of supply chains for critical materials like energy metals, which are powering the Energy rEVolution, and the gold industry that is providing the ultimate hedge during this part of the economic cycle. Our shareholders are participating in the building of The Green Energy Metals Royalty and Gold Company. In our portfolio, we have a unique combination of assets providing exposure to different parts of the mining cycle, starting with the power of blue-sky discovery, and including partnerships with industry leaders like McEwen Inc., Ganfeng Lithium, Lundin Mining and BHP as operators on the projects that could potentially generate royalty cashflows to contribute value for our shareholders. My holding of 27,763,000 common shares in TNR Gold serves as further evidence of my deep personal commitment to the Company and strong confidence in our experienced team and its strategic development plan. We look forward to working with Altius to maximize value for all our shareholders.”

Altius commented, “This investment is consistent with our well-established strategy of patiently acquiring minority equity positions in companies that hold royalties relating to high-potential mineral resource projects. The TNR royalty portfolio includes exposure to major copper and lithium deposits. These include the world-class Los Azules copper project and the recently commissioned Mariana lithium brine project, over which Altius also holds a direct royalty interest. We look forward to working constructively with the TNR team as its royalty portfolio and business continues to advance and mature.”

"Recent mergers and acquisitions activity is generating renewed enthusiasm in the sector. The TNR Gold Team extends its congratulations to the Altius Team on this remarkable milestone for the Green Energy Metals space: the acquisition of Lithium Royalty Corp."

Ganfeng's Mariana Lithium NSR Royalty found two homes with nurturing, loving hands where it can grow for years to come.

Benchmark confirms our observations about the signs of life in the Lithium Universe: "BMI Lithium Carbonate Spot Price EXW China, Min 99.5%, Battery was $25,000 per Tonne on April 22, 2026" - an increase of 162% year on year! "EVs dominate battery demand while BESS increase its share".

"Energy storage will be driving the next chapter of Lithium demand, and humanoid robots will be coming into the picture with every headline about groundbreaking technological progress. Today, you can learn more about why I believe that TNR Gold becomes "the critical material option play without time decay" on the advance of solid-state Lithium batteries in the energy storage market for high-end applications, including electric cars and humanoid robots."

On the demand side, China is back on its exponential growth curve for electric vehicle sales. China NEV sales were up 9.7% year-on-year, reaching 1.344M units sold in April 2026.

The electric vehicles' penetration rate in China was up to 53.2% in April 2026, compared to 43.2% in March this year.

China Power Battery Installations were up 15.2% year-on-year in April 2026, reaching 62.4 GWh. Energy Storage is expected to become the new driver for the demand for Lithium batteries, while Humanoid Robots will be opening a totally new chapter for the Lithium industry.

All our observations of the growing demand for Lithium are confirmed by the new record in China's monthly Lithium battery production, which reached 183.9 GWh in April 2026, up 55.6% year-on-year!

Global energy storage additions keep setting records and driving lithium demand. Let's check the latest presentations from Albemarle, the world's largest Lithium producer.

Today, you have the opportunity to dive into all the latest data from the Lithium industry and connect the dots for your own conclusions.

The global share of electric vehicle sales continued to grow in 2025. China made a new record with a 55% penetration rate for EVs in November 2025.

2025 global EV sales were 22 million units, an increase of 21% year-on-year, driven by growth in China and Europe. North American EV sales represented only 10% and dipped 3% in the last year. China remains the driving force, taking over 60% of the global EV market with a solid growth of 18% Y/Y and continued strong demand. Europe's share of EV sales was 20%, and it's become a new leader in the EV space with growth of 34% Y/Y.

According to Albemarle, long-term secular growth is intact: Lithium market demand is expected to increase by over 2X from 2025 to 2030, from 1.6M T LCE to the range of 2.8M - 3.6M T LCE per year. Projected Lithium demand is expected to be plus 15%-40% Y/Y in 2026.

Global stationary storage demand was up more than 80% in 2025, with strong growth in major regions.

We had a strong start to 2026, as accelerating BESS demand more than offsets weaker EV sales in the first few months of this year. Long-term growth will be driven by stationary energy storage and EVs, while recent reductions in lithium investments and expansions may create mid-term supply risk.

The next chart illustrates the most significant driver for the supercharging Lithium market again. Albemarle states that current Lithium market prices are well below re-investment economics and unsustainable.

A substantial part of the cost curve is operating below breakeven. Higher Lithium prices are required over the next decade to support the over 100 new projects needed to meet anticipated demand.

"Higher Long-Term Lithium Pricing Required to Meet 2030e Demand:
$13,000/T to produce 2.5M T LCE
$15,000/T for 3.0M T LCE
> $20,000/T for 3.3M T LCE" (Albemarle)

In conclusion, lower Lithium prices are the best cure for the low Lithium prices. To meet the projected demand, we need much higher Lithium prices; otherwise, a lack of investments and expansions will lead to deficits, disruptions of supply chains, and price shocks will be imminent in the near future. The cheaper EVs will supercharge the Lithium market again, and China holds the key to this success, with companies like BYD leading the seismic shift in the marketplace.

"Today, you have the opportunity to dive into all the latest data from the Lithium industry and connect the dots before investment bankers adjust their models and investment banks build their own books for pennies on the dollar in the best Lithium plays. They will eat you at lunch again after the sell-side starts pumping up those books at multiples compared to the distressed level prices today, unloading it on retail chasing a new big thing: "AI rEVolution: The World Just Before the INTERNET - Humanoid Robots".

Just in 2024, we were asking the rhetorical questions:

Do Robots Use Lithium Batteries? Hungry Humanoid Robots Running Wild on FSD: Will They Eat All Available Lithium by 2030?

And now humanoid robots are coming from labs into the factories and very soon into our houses and onto our streets. Morgan Stanley is talking about 1 billion of them by 2050 in their latest research, bringing a "$5 Trillion Market" with them.

"For all TNR Gold shareholders, it will be very interesting to note here that Lithium Chloride is the preferred Lithium chemical composition to convert into Lithium metal. Now, we can put all recent developments at Ganfeng Lithium and the Mariana Lithium Project into the perspective of this new battery technology. TNR Gold becomes "the critical material option play without time decay" on the advance of solid-state lithium batteries in the energy storage market for high-end applications, including electric cars and humanoid robots."

"Lithium solid-state batteries will be powering EVs & humanoid robots. Lithium chloride is the preferred chemical composition for converting lithium salt into lithium metal to use in solid-state batteries."

Answer by Grok

With our NSR Royalty Holding on the giant Ganfeng's Mariana Lithium Project, TNR Gold becomes "the critical material option play without time decay" on the advance of solid-state Lithium batteries in the energy storage market for high-end applications, including electric cars and humanoid robots.

TNR Gold Nears First Lithium Royalty Payment Following Strategic Altius Investment

2026-06-02T00:58:53.016-07:00

GEM Royalty TNR Gold Corp.

“TNR Gold Corp is your gateway to the green energy rEVolution and gold stability! We're building a leading green energy metals royalty and gold company, offering a unique entry into the supply chains powering the energy transition. With a 1.5% NSR royalty (of which 0.15% is held on behalf of a shareholder) on the Mariana Lithium Project in Argentina, operated by Ganfeng Lithium, and a 0.4% NSR (of which 0.04% is held on behalf of a shareholder) on the massive Los Azules Copper Project with McEwen Mining—backed by giants like Rio Tinto and Stellantis—we’re positioned for significant cash flows without the capital burden. Add to that our 90% stake in the Shotgun Gold Project in Alaska, near the Donlin Gold deposit, with 705,960 ounces of inferred gold resources, and we’re a diversified powerhouse. TNR delivers exposure to lithium, copper, silver and gold, blending blue-sky discovery with partnerships that drive value—perfect for investors seeking growth and a hedge in today’s economic cycle!”

Kirill Klip, Executive Chairman,

TNR Gold Corp.

"TNR Gold Executive Chairman Kirill Klip joined Steve Darling from Proactive to discuss the completion of a strategic investment by Altius Minerals, a development that significantly strengthens the company’s financial position and reinforces its long-term royalty-driven growth strategy.

Klip explained that Altius, one of Canada’s leading royalty companies, acquired 23.5 million TNR Gold shares for approximately C$4.2 million. The investment brings a major industry participant with a market capitalization of roughly C$3.2 billion into TNR Gold’s shareholder base and serves as a strong endorsement of the company’s portfolio, management team, and long-term vision.

The market responded positively to the announcement, with TNR Gold’s share price experiencing significant appreciation over the past year. Klip said investor interest reflects growing recognition of the company’s royalty portfolio and the potential cash flow opportunities associated with its key assets. Management remains focused on maximizing royalty-related revenue while evaluating additional shareholder-friendly initiatives, including the possibility of implementing a normal course issuer bid and exploring a future dividend policy, subject to board and regulatory approvals.

A key topic of discussion was the Mariana Lithium Project in Argentina, where operator Ganfeng Lithium has successfully exported its first shipment of lithium chloride. This milestone marks an important transition for the project from development into commercial operations and positions TNR Gold to begin receiving royalty revenue.

Klip expressed optimism about the timing of initial payments, noting that the company expects its first royalty payment from Mariana in the near term. The commencement of royalty income would represent a major milestone for TNR Gold, providing tangible validation of its royalty model and potentially establishing a new source of recurring cash flow.

The conversation also covered progress at the Los Azules copper project, one of the largest undeveloped copper projects in the world. Operated by McEwen Copper, the project continues to advance toward a potential final investment decision as demand for copper remains strong due to global electrification, renewable energy infrastructure, and electric vehicle adoption trends. TNR Gold holds a royalty interest in Los Azules, providing shareholders with exposure to a major long-term copper development opportunity.

In addition, Klip provided an update on the company’s Shotgun Gold Project in Alaska, where TNR Gold is actively seeking a strategic partner to help accelerate exploration efforts and expand the project’s resource base. Management believes the project offers significant upside potential in a strong gold market environment and could become another important value driver within the company’s portfolio."

(Proactive)

Dear Shareholders,

I am delighted to extend my warmest congratulations to all of you today.

We remain committed to advancing our initiatives and delivering long-term value for our shareholders.

None of this would have been possible without your unwavering support and trust in our talented Team. On behalf of the entire TNR Gold Team, I extend our deepest gratitude.

Thank you for your continued support.

Our guiding principle remains unchanged: "Solid values in uncertain times.”

Best, and stay safe.

Kirill Klip,

Executive Chairman

TNR Gold Team

We build wealth for our Shareholders.

The Mining Alliance of Trust

There is no investment advice in any of our posts.

Always consult a qualified financial adviser before making any investment decisions.

Do Your Own Research.

The Rise of TNR Gold: TSX Venture Conditionally Approves $4.2M Strategic Investment by Royalty Giant Altius

"Altius Minerals Corporation is a prominent Canadian diversified mining royalty company. This royalty giant with a $3B market cap is made in Canada and distinguished by deep expertise and a commitment to excellence. With deep roots in project generation, relationship-building, and business nurturing, Altius stands out as a rising star in the royalty sector."

(Only publicly available information is used on this Blog and any Kirill Klip and TNR Gold social media feeds.)

"Meanwhile, following this announcement and when we do not have any material news to share with all of you, according to all legal requirements and regulations, I have significantly boosted my stake in TNR Gold by acquiring an additional 500,000 shares. I continue to increase my position. TNR Gold’s Chief Financial Officer, Maurice Brian Brooks, and John K. Davies, Chair of the Audit Committee, have recently purchased shares in the open market."

"After months of diligent negotiations, in line with our announced Strategy of Corporate Development, we are delighted to welcome Altius, a CAN$2.9B market-cap royalty company, as a strategic investor in TNR Gold. It is a strategic, non-control position that signals confidence in our Company.

We received our first "Michelin Star", and Mr Market celebrated with us this time. TNR Gold shares traded as high as 27 cents and closed at 26 cents yesterday, jumping 30% after this announcement."

TNR Gold:

NEWS RELEASE

TNR Gold Announces Completion of CAN$4.2 Million Altius Strategic Investment

"Vancouver, British Columbia – May 25, 2026: TNR Gold Corp. (TSX-V: TNR) (“TNR”, “TNR Gold” or the “Company”) is pleased to announce that, further to its news releases dated April 6, 2026 and May 13, 2026 regarding its strategic private placement by Altius Resources Inc. (“Altius Resources”), a wholly-owned subsidiary of Altius Minerals Corporation (TSX: ALS; OTCQX: ATUSF) (“Altius”), TNR Gold has now completed such private placement (the “Private Placement”).

On completion of the Private Placement (“Closing”), the Company issued 23,500,000 common shares to Altius Resources for gross proceeds of $4,171,250. All common shares issued to Altius Resources bear a statutory hold period of four months and one day from the date of Closing. The proceeds of the Private Placement will be used to finance potential corporate development initiatives, property maintenance and exploration on the Company’s Shotgun Gold Project in Alaska, possible royalty acquisition of the portion of the Mariana Royalty and Los Azules Royalty it holds on behalf of a shareholder and for general corporate and working capital requirements.

Kirill Klip continued, “Our business model provides a unique entry point into the creation of supply chains for critical materials like energy metals, which are powering the Energy rEVolution, and the gold industry that is providing the ultimate hedge during this part of the economic cycle. Our shareholders are participating in the building of The Green Energy Metals Royalty and Gold Company. In our portfolio, we have a unique combination of assets providing exposure to different parts of the mining cycle, starting with the power of blue-sky discovery, and including partnerships with industry leaders like McEwen Inc., Ganfeng Lithium, Lundin Mining and BHP as operators on the projects that could potentially generate royalty cashflows to contribute value for our shareholders. My holding of 27,763,000 common shares in TNR Gold serves as further evidence of my deep personal commitment to the Company and strong confidence in our experienced team and its strategic development plan. We look forward to working with Altius to maximize value for all our shareholders.”

On Closing, TNR Gold and Altius also entered into the following agreements:

(a) a right of first offer agreement, pursuant to which TNR granted to Altius Royalty Corporation, a wholly-owned subsidiary of Altius, a right of first offer on the sale of TNR’s 1.35% NSR royalty on the Mariana Lithium Project in Argentina and TNR’s 0.36% NSR royalty on the Los Azules Copper Project in Argentina (the “ROFO Agreement”); and

(b) a voting agreement, pursuant to which (i) TNR granted to Altius Resources the right to participate in future private placements and certain other issuances of securities by TNR, such that Altius Resources may maintain its pro rata ownership of TNR following Closing, and (ii) Altius Resources agreed to vote its TNR Shares in favour of any directors nominated by TNR’s management and other matters that are unanimously recommended by TNR’s board of directors, for a period of five years from Closing (together with the ROFO Agreement, the “Ancillary Agreements”), subject to the right of Altius Resources to abstain from voting on any of the voting support matters in a manner consistent with the guidance in TSX Staff Notice 2023-0001.

The Ancillary Agreements will terminate automatically upon Altius Resources ceasing to own at least 6% of TNR’s issued and outstanding shares on a non-diluted basis.

ABOUT ALTIUS MINERALS CORPORATION

Altius’s strategy is to create per share growth through a diversified portfolio of royalty assets that relate to long life, high margin operations. This strategy further provides shareholders with exposures that are well aligned with global growth trends including increasing electricity-based market share within energy usage, global infrastructure build and refurbishment growth, increased EAF based steelmaking, steadily increasing agricultural fertilizer requirements and the enhanced appetite for financial asset diversification through precious metals ownership. These macro-trends each hold the potential to cause higher demand for many of Altius’s commodity exposures including potash, high purity iron ore, renewable energy, base and battery metals, and gold. In addition, Altius runs a successful Project Generation business that originates mineral projects for sale to developers in exchange for royalties and that has a demonstrated track record of driving outsized direct returns from its overall royalty investment portfolio. It is a member of both the S&P/TSX Small Cap and S&P/TSX Global Mining Indices and the S&P/TSX Canadian Dividend Aristocrats Index.

ABOUT TNR GOLD Corp.

TNR Gold Corp. is working to become the green energy metals royalty and gold company.

Our business model provides a unique entry point in the creation of supply chains for critical materials like energy metals that are powering the energy rEVolution, and the gold industry that is providing a hedge for this stage of the economic cycle.

Our portfolio provides a unique combination of assets with exposure to multiple aspects of the mining cycle: the power of blue-sky discovery and important partnerships with industry leaders as operators on the projects that will potentially generate royalty cashflows to contribute significant value for our shareholders.

Over the past thirty years, TNR, through its lead generator business model, has been successful in generating high-quality global exploration projects. With the Company’s expertise, resources and industry network, the potential of the Mariana Lithium Project and Los Azules Copper Project in Argentina, among many others, have been recognized.

TNR holds a 1.5% NSR royalty on the Mariana Lithium Project in Argentina, of which 0.15% of such NSR royalty is held on behalf of a shareholder of the Company. Ganfeng Lithium’s subsidiary, Litio Minera Argentina (“LMA”), has the right to repurchase 1.0% of the NSR royalty on the Mariana Project, of which 0.9% is the Company’s NSR royalty interest. The Company would receive CAN$900,000, and its shareholder would receive CAN$100,000 on the repurchase by LMA, resulting in TNR holding a 0.45% NSR royalty and its shareholder holding a 0.05% NSR royalty.

The Mariana Lithium Project is 100% owned by Ganfeng Lithium. The Mariana Lithium Project has been approved by the Argentina provincial government of Salta for an environmental impact report. Ganfeng officially inaugurated Mariana Lithium’s start of production at a 20,000 tons-per-annum lithium chloride plant on February 12, 2025.

TNR Gold also holds a 0.4% NSR royalty on the Los Azules Copper Project, of which 0.04% of the 0.4% NSR royalty is held on behalf of a shareholder of the Company. The Los Azules Copper Project is being developed by McEwen Inc.

TNR also holds a 7% NPR on the Batidero I and II properties of the Josemaria Project that is being developed by the joint-venture between Lundin Mining and BHP.

TNR provides significant exposure to gold through its 90% holding in the Shotgun Gold porphyry project in Alaska. The project is located in Southwestern Alaska near the Donlin Gold project, which is being developed by Barrick Gold and Novagold Resources. The Company’s strategy with the Shotgun Gold Project is to attract a joint venture partnership with a major gold mining company. The Company is actively introducing the project to interested parties.

At its core, TNR provides a wide scope of exposure to gold, copper, silver and lithium through its holdings in Alaska (the Shotgun Gold porphyry project) and royalty holdings in Argentina (the Mariana Lithium project, the Los Azules Copper Project and the Batidero I & II properties of the Josemaria Project), and is committed to the continued generation of in-demand projects, while diversifying its markets and building shareholder value.

On behalf of the Board of Directors,

Kirill Klip

Executive Chairman

www.tnrgoldcorp.com

For further information concerning this news release please contact Kirill Klip +1 604-229-8129

Neither 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 Statement Regarding Forward-Looking Information

Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “will”, “could” and other similar words, or statements that certain events or conditions “may” or “could” occur, although not all forward-looking statements contain these identifying words. Specifically, forward-looking statements in this news release include, but are not limited to, statements made in relation to: the use of proceeds from the Private Placement; TNR’s future receipt of cash flows from its royalty holdings and the subsequent contribution of significant value to its shareholders; the possible growth of TNR’s value; and TNR’s strategy and business objectives. Such forward-looking information is based on a number of assumptions and subject to a variety of risks and uncertainties, including but not limited to those discussed in the sections entitled “Risks” and “Forward-Looking Statements” in the Company’s interim and annual Management’s Discussion and Analysis which are available under the Company’s SEDAR+ profile on www.sedarplus.ca. While management believes that the assumptions made and reflected in this news release are reasonable, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. In particular, there can be no assurance that: TNR will enter into one or more strategic transactions, partnership or a spin-out, or be able to complete any further royalty acquisitions or sales of royalty interests, or portions thereof; debt or equity financings will be available to TNR; or that TNR will be able to achieve any of its corporate objectives. TNR relies on the confirmation of its ownership for mining claims from the appropriate government agencies when paying rental payments for such mining claims requested by these agencies. There could be a risk in the future of the changing internal policies of such government agencies or risk related to the third parties, in future, challenging the ownership of such mining claims. Given these uncertainties, readers are cautioned that forward-looking statements included herein are not guarantees of future performance, and such forward-looking statements should not be unduly relied on.

In formulating the forward-looking statements contained herein, management has assumed that business and economic conditions affecting TNR, and its royalty partners, McEwen Inc., Ganfeng Lithium and Lundin Mining will continue substantially in the ordinary course, including without limitation with respect to general industry conditions, general levels of economic activity and regulations. These assumptions, although considered reasonable by management at the time of preparation, may prove to be incorrect.

Forward-looking information herein and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change."

TNR Gold Highlights Los Azules' Progress and Altius Strategic Investment

2026-05-29T06:17:48.109-07:00

"In its news release dated May 6, 2026, McEwen stated:
“McEwen owns a 46.3% equity stake in McEwen Copper and a 1.25% NSR royalty on McEwen Copper’s Los Azules copper project. The royalty is projected to generate pre-tax $520.5 million at recent copper spot price of $5.80/lb and $389.5 million at the feasibility study’s base-case copper price of $4.35/lb over the 22-year mine life. There is potential to extend the life of Los Azules by an additional 33 years."

"TNR Gold Executive Chairman Kirill Klip joined Steve Darling from Proactive to discuss several important developments shaping the company’s growth strategy, including a strategic investment by Altius Minerals and the continued advancement of the Los Azules copper project in Argentina.

Klip explained that Altius has acquired a 9.9% strategic stake in TNR Gold, describing the move as a strong endorsement of both the company’s long-term direction and the strength of its royalty portfolio. According to Klip, the investment not only enhances TNR Gold’s profile within the mining and royalty sectors, but also increases market awareness of the company’s broader asset base, including its Shotgun Gold project in Alaska.

The discussion also focused on progress at McEwen Copper’s Los Azules project, where TNR Gold maintains a net smelter return royalty interest. Klip highlighted recent developments designed to support the project’s advancement, including the appointment of Société Générale to assist with arranging project debt financing. He also noted the possibility of a future public listing for McEwen Copper, a move that could create additional visibility and funding opportunities for the asset.

Further attention was given to the involvement of Rio Tinto through its Nuton technology venture and the potential for the global mining giant to increase its participation in the Los Azules project. Klip emphasized Argentina’s recently implemented RIGI investment framework, saying the initiative creates improved long-term fiscal and legal stability that could make the country increasingly attractive for major mining investments and project development.

One of the most significant highlights discussed was the project’s long-term production potential and mine life outlook. Klip pointed to estimates suggesting a mine life of approximately 21 years, with potential annual production exceeding 200,000 tonnes of London Metal Exchange copper plate in the first 5 years and averaging 148,000 tonnes annually. He further noted that the implementation of Rio Tinto’s Nuton technology could significantly enhance resource recovery and potentially extend the mine’s operating life by an additional 33 years, further strengthening the long-term value proposition of the project." (Proactive)

Building The Green Energy Metals Royalty and Gold Company: TNR Gold Announces Completion of CAN$4.2 Million Altius Strategic Investment

TNR Gold NSR Royalty Holding: "Rio Tinto Considers Raising Stake in Argentina’s Los Azules Copper Project"

"Kirill Klip, the Company’s Chief Executive Officer, stated, “We are pleased that McEwen Copper has reached this milestone following the release of the feasibility study and securing of an environmental permit for the construction and operation of Los Azules. The collaboration between McEwen Copper and International Finance Corporation (IFC), and admission to the Argentina Regime of Incentives for Investment (RIGI) could move the Los Azules copper project development closer to a construction decision.

Mining in Argentina is being recognized by the government as an integral part of its economic development plan, providing jobs and enriching local communities. The president of Argentina has introduced important government policies aimed at supporting business and unlocking the country’s economic potential.

TNR Gold’s vision is aligned with the leaders of innovation among automakers like Stellantis, whose aim is to decarbonize mobility, and mining industry leaders such as Rob McEwen, whose vision is ‘to build a mine for the future, based on regenerative principles that can achieve net zero carbon emissions by 2038’.

Together with Rio Tinto’s Venture Nuton®, McEwen Copper is exploring new technologies that save energy, water, time and capital, advancing Los Azules towards the goal of leading environmental performance. The involvement of Rio Tinto, with its innovative technology, may also accelerate realizing the potential of the Los Azules project.

The green energy rEVolution relies on the supply of critical metals like copper. Delivering ‘green copper’ to Argentina and the world will contribute to the clean energy transition and electrification of transportation and energy industries.

The feasibility study confirms Los Azules project as a long-life, low-cost producer of high-purity copper cathodes with strong economic returns and sustainability. It highlights the potential to create a robust leach project while reducing the environmental footprint, and greater environmental and social stewardship sets the project apart from other potential mine developments.

TNR Gold does not have to contribute any capital for the development of the Los Azules Project. The essence of our business model is to have industry leaders like McEwen as operators on the projects that will potentially generate royalty cashflows to contribute significant value for our shareholders.”

TNR Gold:

NEWS RELEASE

TNR Gold NSR Royalty Update – McEwen Copper Appoints Societe Generale as Financial Advisor for Project Debt Financing of Los Azules Project

"Vancouver, British Columbia – May 19, 2026: TNR Gold Corp. (TSX-V: TNR) (“TNR”, “TNR Gold” or the “Company”) is pleased to announce that McEwen Inc. (“McEwen”) has provided an update on the Los Azules copper, gold and silver project in San Juan, Argentina. TNR holds a 0.4% net smelter returns royalty (“NSR Royalty”) (of which 0.04% of the 0.4% NSR Royalty is held on behalf of a shareholder) on the Los Azules Copper Project. The Los Azules project is held by McEwen Copper Inc. (“McEwen Copper”), which is 46.3% owned by McEwen.

A news release issued by McEwen on May 14, 2026, stated:

“(“McEwen Copper” or the “Company“) today announced that it has retained Societe Generale, to act as its sole financial advisor in connection with project debt financing of the Company’s Los Azules copper project located in San Juan Province, Argentina (the “Project“).

Under the mandate, Societe Generale will lead the structuring and arrangement of a senior debt package to fund the construction of the Project. Societe Generale’s scope of work spans both preparatory and implementation phases and includes development of the financing strategy; coordination of lenders’ technical, market, environmental and social, insurance, audit and tax due diligence; preparation of the lenders’ information package; and assistance with the negotiation. The financing is expected to be assembled from a combination of export credit agency, commercial bank debt, multilateral and development finance institution facilities, and potential project bond or other capital markets instruments.

The appointment complements the Company’s continuing relationship with the International Finance Corporation (IFC), a member of the World Bank Group, with whom the Company has a collaboration agreement to align the Project with IFC’s environmental, social, and governance standards in anticipation of international project financing. The Project will be developed in alignment with the Equator Principles.

‘Bringing Societe Generale on board marks a significant step in advancing Los Azules toward construction,’ said Michael Meding, Managing Director of McEwen Copper. ‘Societe Generale’s global project finance platform and long-standing relationships with the export credit agency, multilateral and commercial banking community make them an ideal partner to help us assemble a robust, competitively priced debt package for one of the world’s largest undeveloped copper projects.’ ”

In its news release dated May 6, 2026, McEwen stated:

“McEwen owns a 46.3% equity stake in McEwen Copper and a 1.25% NSR royalty on McEwen Copper’s Los Azules copper project. The royalty is projected to generate pre-tax $520.5 million at recent copper spot price of $5.80/lb and $389.5 million at the feasibility study’s base-case copper price of $4.35/lb over the 22-year mine life. There is potential to extend the life of Los Azules by an additional 33 years.

Los Azules advanced significantly in 2025, completing two foundational milestones: approval of its application under Argentina’s RIGI (Large Investment Incentive Regime), securing 30 years of legal, fiscal, and customs stability; and publication of a Feasibility Study confirming robust project economics, with initial 5-year average production of 205 ktpa of copper cathodes at $1.71/lb C1 cash cost over a 22-year mine life and identified upside potential to extend mine life for an additional 33 years adding an average of 141ktpa Cu per annum.

Following the Feasibility Study, project costs began to be capitalized in late Q3 2025 under U.S. GAAP. The 2026 objective is to advance the project toward a Final Investment Decision targeted for year-end 2026, with construction targeted to commence in early 2027, and production in 2030, subject to project financing and customary approvals.”

Cautionary Statement Regarding Forward-Looking Information
Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “will”, “could” and other similar words, or statements that certain events or conditions “may” or “could” occur, although not all forward-looking statements contain these identifying words. Specifically, forward-looking statements in this news release include, but are not limited to, statements made in relation to: TNR’s future receipt of cash flows from its royalty holdings and the subsequent contribution of significant value to its shareholders; the possible growth of TNR’s value; and TNR’s strategy and business objectives; TNR’s corporate objectives and future potential transactions being considered by the Special Committee and the Board, and the benefit that TNR’s shareholders may derive from same; TNR’s future receipt of cash flows from its royalty holdings and the subsequent contribution of significant value to its shareholders; the possible growth of TNR’s value; future revenue and increased valuations of TNR’s royalty holdings caused by potential strategic alliances with major mining companies and investment institutions; the potential production from the Mariana Lithium Project; future investment of substantial capital in the development of the Shotgun Gold Project by a potential partner of TNR; the possible benefits that may accrue to the Los Azules copper project; the potential acceleration of the Los Azules project’s potential due to Rio Tinto’s involvement in the project; and the potential benefits caused by delivering ‘green copper’ to Argentina and the world. Such forward-looking information is based on a number of assumptions and subject to a variety of risks and uncertainties, including but not limited to those discussed in the sections entitled “Risks” and “Forward-Looking Statements” in the Company’s interim and annual Management’s Discussion and Analysis which are available under the Company’s SEDAR+ profile on www.sedarplus.ca. While management believes that the assumptions made and reflected in this news release are reasonable, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. In particular, there can be no assurance that: TNR will enter into one or more strategic transactions, partnership or a spin-out, or be able to complete any further royalty acquisitions or sales of royalty interests, or portions thereof; debt or equity financings will be available to TNR; or that TNR will be able to achieve any of its corporate objectives. TNR relies on the confirmation of its ownership for mining claims from the appropriate government agencies when paying rental payments for such mining claims requested by these agencies. There could be a risk in the future of the changing internal policies of such government agencies or risk related to the third parties, in future, challenging the ownership of such mining claims. Given these uncertainties, readers are cautioned that forward-looking statements included herein are not guarantees of future performance, and such forward-looking statements should not be unduly relied on.
In formulating the forward-looking statements contained herein, management has assumed that business and economic conditions affecting TNR, and its royalty partners, McEwen Inc., Ganfeng Lithium, Lundin Mining and BHP will continue substantially in the ordinary course, including without limitation with respect to general industry conditions, general levels of economic activity and regulations. These assumptions, although considered reasonable by management at the time of preparation, may prove to be incorrect.
Forward-looking information herein and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change."

Building The Green Energy Metals Royalty and Gold Company: TNR Gold Announces Completion of CAN$4.2 Million Altius Strategic Investment

2026-05-26T04:35:07.719-07:00

GEM Royalty TNR Gold Corp.

“TNR Gold Corp is your gateway to the green energy rEVolution and gold stability! We're building a leading green energy metals royalty and gold company, offering a unique entry into the supply chains powering the energy transition. With a 1.5% NSR royalty (of which 0.15% is held on behalf of a shareholder) on the Mariana Lithium Project in Argentina, operated by Ganfeng Lithium, and a 0.4% NSR (of which 0.04% is held on behalf of a shareholder) on the massive Los Azules Copper Project with McEwen Mining—backed by giants like Rio Tinto and Stellantis—we’re positioned for significant cash flows without the capital burden. Add to that our 90% stake in the Shotgun Gold Project in Alaska, near the Donlin Gold deposit, with 705,960 ounces of inferred gold resources, and we’re a diversified powerhouse. TNR delivers exposure to lithium, copper, silver and gold, blending blue-sky discovery with partnerships that drive value—perfect for investors seeking growth and a hedge in today’s economic cycle!”

Kirill Klip, Executive Chairman,

TNR Gold Corp.

Dear Shareholders,

I am delighted to extend my warmest congratulations to all of you today.

We remain committed to advancing our initiatives and delivering long-term value for our shareholders.

None of this would have been possible without your unwavering support and trust in our talented Team. On behalf of the entire TNR Gold Team, I extend our deepest gratitude.

Thank you for your continued support.

Our guiding principle remains unchanged: "Solid values in uncertain times.”

Best, and stay safe.

Kirill Klip,

Executive Chairman

TNR Gold Team

We build wealth for our Shareholders.

The Mining Alliance of Trust

There is no investment advice in any of our posts.

Always consult a qualified financial adviser before making any investment decisions.

Do Your Own Research.

The Rise of TNR Gold: TSX Venture Conditionally Approves $4.2M Strategic Investment by Royalty Giant Altius

"Altius Minerals Corporation is a prominent Canadian diversified mining royalty company. This royalty giant with a $3B market cap is made in Canada and distinguished by deep expertise and a commitment to excellence. With deep roots in project generation, relationship-building, and business nurturing, Altius stands out as a rising star in the royalty sector."

(Only publicly available information is used on this Blog and any Kirill Klip and TNR Gold social media feeds.)

"Meanwhile, following this announcement and when we do not have any material news to share with all of you, according to all legal requirements and regulations, I have significantly boosted my stake in TNR Gold by acquiring an additional 500,000 shares. I continue to increase my position. TNR Gold’s Chief Financial Officer, Maurice Brian Brooks, and John K. Davies, Chair of the Audit Committee, have recently purchased shares in the open market."

"After months of diligent negotiations, in line with our announced Strategy of Corporate Development, we are delighted to welcome Altius, a CAN$2.9B market-cap royalty company, as a strategic investor in TNR Gold. It is a strategic, non-control position that signals confidence in our Company.

We received our first "Michelin Star", and Mr Market celebrated with us this time. TNR Gold shares traded as high as 27 cents and closed at 26 cents yesterday, jumping 30% after this announcement."

TNR Gold:

NEWS RELEASE

TNR Gold Announces Completion of CAN$4.2 Million Altius Strategic Investment

Kirill Klip continued, “Our business model provides a unique entry point into the creation of supply chains for critical materials like energy metals, which are powering the Energy rEVolution, and the gold industry that is providing the ultimate hedge during this part of the economic cycle. Our shareholders are participating in the building of The Green Energy Metals Royalty and Gold Company. In our portfolio, we have a unique combination of assets providing exposure to different parts of the mining cycle, starting with the power of blue-sky discovery, and including partnerships with industry leaders like McEwen Inc., Ganfeng Lithium, Lundin Mining and BHP as operators on the projects that could potentially generate royalty cashflows to contribute value for our shareholders. My holding of 27,763,000 common shares in TNR Gold serves as further evidence of my deep personal commitment to the Company and strong confidence in our experienced team and its strategic development plan. We look forward to working with Altius to maximize value for all our shareholders.”

On Closing, TNR Gold and Altius also entered into the following agreements:

(a) a right of first offer agreement, pursuant to which TNR granted to Altius Royalty Corporation, a wholly-owned subsidiary of Altius, a right of first offer on the sale of TNR’s 1.35% NSR royalty on the Mariana Lithium Project in Argentina and TNR’s 0.36% NSR royalty on the Los Azules Copper Project in Argentina (the “ROFO Agreement”); and

(b) a voting agreement, pursuant to which (i) TNR granted to Altius Resources the right to participate in future private placements and certain other issuances of securities by TNR, such that Altius Resources may maintain its pro rata ownership of TNR following Closing, and (ii) Altius Resources agreed to vote its TNR Shares in favour of any directors nominated by TNR’s management and other matters that are unanimously recommended by TNR’s board of directors, for a period of five years from Closing (together with the ROFO Agreement, the “Ancillary Agreements”), subject to the right of Altius Resources to abstain from voting on any of the voting support matters in a manner consistent with the guidance in TSX Staff Notice 2023-0001.

The Ancillary Agreements will terminate automatically upon Altius Resources ceasing to own at least 6% of TNR’s issued and outstanding shares on a non-diluted basis.

ABOUT ALTIUS MINERALS CORPORATION

ABOUT TNR GOLD Corp.

TNR Gold Corp. is working to become the green energy metals royalty and gold company.

TNR also holds a 7% NPR on the Batidero I and II properties of the Josemaria Project that is being developed by the joint-venture between Lundin Mining and BHP.

On behalf of the Board of Directors,

Kirill Klip

Executive Chairman

www.tnrgoldcorp.com

For further information concerning this news release please contact Kirill Klip +1 604-229-8129

Cautionary Statement Regarding Forward-Looking Information

TNR Gold NSR Royalty Update – McEwen Copper Appoints Societe Generale as Financial Advisor for Project Debt Financing of Los Azules Project

2026-05-21T01:04:41.286-07:00

"In its news release dated May 6, 2026, McEwen stated:
“McEwen owns a 46.3% equity stake in McEwen Copper and a 1.25% NSR royalty on McEwen Copper’s Los Azules copper project. The royalty is projected to generate pre-tax $520.5 million at recent copper spot price of $5.80/lb and $389.5 million at the feasibility study’s base-case copper price of $4.35/lb over the 22-year mine life. There is potential to extend the life of Los Azules by an additional 33 years."

The Rise of TNR Gold: TSX Venture Conditionally Approves $4.2M Strategic Investment by Royalty Giant Altius

TNR Gold NSR Royalty Holding: "Rio Tinto Considers Raising Stake in Argentina’s Los Azules Copper Project"

TNR Gold:

NEWS RELEASE

TNR Gold NSR Royalty Update – McEwen Copper Appoints Societe Generale as Financial Advisor for Project Debt Financing of Los Azules Project

A news release issued by McEwen on May 14, 2026, stated:

In its news release dated May 6, 2026, McEwen stated:

In its news release dated March 12, 2026, McEwen stated:
“RIGI approval was obtained in September 2025 granting significant benefits which include regulatory stability, lower overall tax burden, access to international arbitration and guaranteed access to foreign currency.
We released a strong feasibility study in October 2025 with headline production of 205 ktpa copper cathodes that can be directly delivered to industry, at $1.71/lb C1 cash cost and $2.11/lb AISC, and average production of 148 ktpa copper over 22 years. The study also highlights upside potential to add another 33 years of mine life with 141 ktpa of copper production, using Rio Tinto’s Nuton technology or a conventional concentrator.
Our team is continuing detailed engineering, with the aim of delivering a Final Investment Decision (FID) by end of this year, with construction targeted to begin in early 2027, subject to project financing.
With the Feasibility Study completed, project costs for Los Azules began to be capitalized in late Q3 2025 under U.S. GAAP.”
For further details, visit the McEwen website.

Qualified Persons
The McEwen Copper feasibility study technical report has an effective date of September 3, 2025.
The feasibility study and associated news disclosures were reviewed and verified by the following qualified persons who are independent consultants of McEwen Copper:
Technical aspects of the news release related to Project Execution, Development information, and other information excluding mineral resource disclosure – James L. Sorensen – FAusIMM Reg. No. 221286 with Samuel Engineering.
Technical aspects of the news release related to Metallurgical Summary and Process Information – Michael McGlynn – SME Registered Member No. 4149430 with Samuel Engineering.
Disclosure related to the updated Los Azules mineral resource estimate – Jeff Sullivan – FAusIMM Reg. No. 201778 with CRM-SA, LLC.
Disclosure related to the initial Los Azules mining, and mineral reserve estimate – Gordon Zurowski, P.Eng with AGP Mining Consultants.
Technical aspects of the news release related to Financial Modeling – Steve Pozder – P.E. with Samuel Engineering.”

About McEwen Copper
McEwen Copper Inc. is a copper development company whose principal asset is the Los Azules project in San Juan Province, Argentina – an advanced-stage project counted among the largest undeveloped copper resources globally. McEwen Copper is 46.3%-owned by McEwen.
The McEwen press release appears to be reviewed and verified by a Qualified Person (as that term is defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects) and the procedures, methodology and key assumptions disclosed therein are those adopted and consistently applied in the mining industry, but no Qualified Person engaged by TNR has done sufficient work to analyze, interpret, classify or verify McEwen’s information to determine the current mineral resource or other information referred to in its press releases. Accordingly, the reader is cautioned in placing any reliance on the disclosures therein.

Kirill Klip, the Company’s Chief Executive Officer, stated, “We are pleased that McEwen Copper has reached this milestone following the release of the feasibility study and securing of an environmental permit for the construction and operation of Los Azules. The collaboration between McEwen Copper and International Finance Corporation (IFC), and admission to the Argentina Regime of Incentives for Investment (RIGI) could move the Los Azules copper project development closer to a construction decision.
Mining in Argentina is being recognized by the government as an integral part of its economic development plan, providing jobs and enriching local communities. The president of Argentina has introduced important government policies aimed at supporting business and unlocking the country’s economic potential.
TNR Gold’s vision is aligned with the leaders of innovation among automakers like Stellantis, whose aim is to decarbonize mobility, and mining industry leaders such as Rob McEwen, whose vision is ‘to build a mine for the future, based on regenerative principles that can achieve net zero carbon emissions by 2038’.
Together with Rio Tinto’s Venture Nuton®, McEwen Copper is exploring new technologies that save energy, water, time and capital, advancing Los Azules towards the goal of leading environmental performance. The involvement of Rio Tinto, with its innovative technology, may also accelerate realizing the potential of the Los Azules project.
The green energy rEVolution relies on the supply of critical metals like copper. Delivering ‘green copper’ to Argentina and the world will contribute to the clean energy transition and electrification of transportation and energy industries.
The feasibility study confirms Los Azules project as a long-life, low-cost producer of high-purity copper cathodes with strong economic returns and sustainability. It highlights the potential to create a robust leach project while reducing the environmental footprint, and greater environmental and social stewardship sets the project apart from other potential mine developments.
TNR Gold does not have to contribute any capital for the development of the Los Azules Project. The essence of our business model is to have industry leaders like McEwen as operators on the projects that will potentially generate royalty cashflows to contribute significant value for our shareholders.”

ABOUT TNR GOLD Corp.
TNR Gold Corp. is working to become the green energy metals royalty and gold company.
Our business model provides a unique entry point in the creation of supply chains for critical materials like energy metals that are powering the energy rEVolution, and the gold industry that is providing a hedge for this stage of the economic cycle.
Our portfolio provides a unique combination of assets with exposure to multiple aspects of the mining cycle: the power of blue-sky discovery and important partnerships with industry leaders as operators on the projects that will potentially generate royalty cashflows to contribute significant value for our shareholders.
Over the past thirty years, TNR, through its lead generator business model, has been successful in generating high-quality global exploration projects. With the Company’s expertise, resources and industry network, the potential of the Mariana Lithium Project and Los Azules Copper Project in Argentina, among many others, have been recognized.
TNR holds a 1.5% NSR royalty on the Mariana Lithium Project in Argentina, of which 0.15% of such NSR royalty is held on behalf of a shareholder of the Company. Ganfeng Lithium’s subsidiary, Litio Minera Argentina (“LMA”), has the right to repurchase 1.0% of the NSR royalty on the Mariana Project, of which 0.9% is the Company’s NSR royalty interest. The Company would receive CAN$900,000, and its shareholder would receive CAN$100,000 on the repurchase by LMA, resulting in TNR holding a 0.45% NSR royalty and its shareholder holding a 0.05% NSR royalty.
The Mariana Lithium Project is 100% owned by Ganfeng Lithium. The Mariana Lithium Project has been approved by the Argentina provincial government of Salta for an environmental impact report. Ganfeng Lithium officially inaugurated Mariana Lithium’s start of production at a 20,000 tons-per-annum lithium chloride plant on February 12, 2025.
TNR Gold also holds a 0.4% NSR royalty on the Los Azules Copper Project, of which 0.04% of the 0.4% NSR royalty is held on behalf of a shareholder of the Company. The Los Azules Copper Project is being developed by McEwen Inc.
TNR also holds a 7% NPR on the Batidero I and II properties of the Josemaria Project that is being developed by the joint venture between Lundin Mining and BHP.
TNR provides significant exposure to gold through its 90% holding in the Shotgun Gold porphyry project in Alaska. The project is located in Southwestern Alaska near the Donlin Gold project, which is being developed by Barrick Gold and Novagold Resources. The Company’s strategy with the Shotgun Gold Project is to attract a joint venture partnership with a major gold mining company. The Company is actively introducing the project to interested parties.
At its core, TNR provides a wide scope of exposure to gold, copper, silver and lithium through its holdings in Alaska (the Shotgun Gold porphyry project) and royalty holdings in Argentina (the Mariana Lithium project, the Los Azules Copper Project and the Batidero I & II properties of the Josemaria Project), and is committed to the continued generation of in-demand projects, while diversifying its markets and building shareholder value.
On behalf of the Board of Directors,
Kirill Klip
Executive Chairman
www.tnrgoldcorp.com
For further information concerning this news release please contact Kirill Klip +1 604-229-8129
Neither 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 Statement Regarding Forward-Looking Information
Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “will”, “could” and other similar words, or statements that certain events or conditions “may” or “could” occur, although not all forward-looking statements contain these identifying words. Specifically, forward-looking statements in this news release include, but are not limited to, statements made in relation to: TNR’s future receipt of cash flows from its royalty holdings and the subsequent contribution of significant value to its shareholders; the possible growth of TNR’s value; and TNR’s strategy and business objectives; TNR’s corporate objectives and future potential transactions being considered by the Special Committee and the Board, and the benefit that TNR’s shareholders may derive from same; TNR’s future receipt of cash flows from its royalty holdings and the subsequent contribution of significant value to its shareholders; the possible growth of TNR’s value; future revenue and increased valuations of TNR’s royalty holdings caused by potential strategic alliances with major mining companies and investment institutions; the potential production from the Mariana Lithium Project; future investment of substantial capital in the development of the Shotgun Gold Project by a potential partner of TNR; the possible benefits that may accrue to the Los Azules copper project; the potential acceleration of the Los Azules project’s potential due to Rio Tinto’s involvement in the project; and the potential benefits caused by delivering ‘green copper’ to Argentina and the world. Such forward-looking information is based on a number of assumptions and subject to a variety of risks and uncertainties, including but not limited to those discussed in the sections entitled “Risks” and “Forward-Looking Statements” in the Company’s interim and annual Management’s Discussion and Analysis which are available under the Company’s SEDAR+ profile on www.sedarplus.ca. While management believes that the assumptions made and reflected in this news release are reasonable, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. In particular, there can be no assurance that: TNR will enter into one or more strategic transactions, partnership or a spin-out, or be able to complete any further royalty acquisitions or sales of royalty interests, or portions thereof; debt or equity financings will be available to TNR; or that TNR will be able to achieve any of its corporate objectives. TNR relies on the confirmation of its ownership for mining claims from the appropriate government agencies when paying rental payments for such mining claims requested by these agencies. There could be a risk in the future of the changing internal policies of such government agencies or risk related to the third parties, in future, challenging the ownership of such mining claims. Given these uncertainties, readers are cautioned that forward-looking statements included herein are not guarantees of future performance, and such forward-looking statements should not be unduly relied on.
In formulating the forward-looking statements contained herein, management has assumed that business and economic conditions affecting TNR, and its royalty partners, McEwen Inc., Ganfeng Lithium, Lundin Mining and BHP will continue substantially in the ordinary course, including without limitation with respect to general industry conditions, general levels of economic activity and regulations. These assumptions, although considered reasonable by management at the time of preparation, may prove to be incorrect.
Forward-looking information herein and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change."

The Rise of TNR Gold: TSX Venture Conditionally Approves $4.2M Strategic Investment by Royalty Giant Altius

2026-05-16T08:25:04.351-07:00

GEM Royalty TNR Gold Corp.

“TNR Gold Corp is your gateway to the green energy rEVolution and gold stability! We're building a leading green energy metals royalty and gold company, offering a unique entry into the supply chains powering the energy transition. With a 1.5% NSR royalty (of which 0.15% is held on behalf of a shareholder) on the Mariana Lithium Project in Argentina, operated by Ganfeng Lithium, and a 0.4% NSR (of which 0.04% is held on behalf of a shareholder) on the massive Los Azules Copper Project with McEwen Mining—backed by giants like Rio Tinto and Stellantis—we’re positioned for significant cash flows without the capital burden. Add to that our 90% stake in the Shotgun Gold Project in Alaska, near the Donlin Gold deposit, with 705,960 ounces of inferred gold resources, and we’re a diversified powerhouse. TNR delivers exposure to lithium, copper, silver and gold, blending blue-sky discovery with partnerships that drive value—perfect for investors seeking growth and a hedge in today’s economic cycle!”

Kirill Klip, Executive Chairman,

TNR Gold Corp.

Dear Shareholders,

I am delighted to extend my warmest congratulations to all of you today.

I am very pleased to report that we have now received TSX Venture conditional approval to complete the private placement of Altius' strategic investment in TNR Gold. This important milestone marks a significant achievement for TNR Gold and underscores the continued confidence in our projects and strategy.

Mr Market celebrated with us again, as TNR Gold shares closed at 24 cents yesterday, a 12% increase on the day.

We remain committed to advancing our initiatives and delivering long-term value for our shareholders.

None of this would have been possible without your unwavering support and trust in our talented Team. On behalf of the entire TNR Gold Team, I extend our deepest gratitude.

Thank you for your continued support.

Our guiding principle remains unchanged: "Solid values in uncertain times.”

Best and stay safe.

Kirill Klip,

Executive Chairman

TNR Gold Team

We build wealth for our Shareholders.

The Mining Alliance of Trust

"TNR Gold Corp (TSX-V:TNR, FRA:TNW, OTC:TRRXF) executive chairman Kirill Klip joined Proactive's Stephen Gunnion after the company secured conditional TSX Venture Exchange approval for a strategic C$4.2 million investment from Altius Minerals.

Chart by Nicholas Winton

Altius will acquire 23.5 million shares, with Klip calling the deal a “very important milestone” that validates TNR Gold’s royalty-focused strategy and long-term vision. Klip also highlighted progress across the company’s royalty portfolio, including first lithium chloride exports from Ganfeng’s Mariana project in Argentina, where royalty payments are expected soon. He also discussed financing and development momentum at the Los Azules copper project, alongside TNR Gold’s longer-term plans for stronger cash flow, potential share buybacks and dividends.

The interview concluded with an update on the Shotgun Gold project in Alaska, where TNR Gold is seeking a major mining partner to accelerate growth." (Proactive)

There is no investment advice in any of our posts.

Always consult a qualified financial adviser before making any investment decisions.

Do Your Own Research.

(Only publicly available information is used on this Blog and any Kirill Klip and TNR Gold social media feeds)

Chart by Nicholas Winton

Altius Minerals Corporation is a prominent Canadian diversified mining royalty company. This royalty giant with a $3B market cap is made in Canada and distinguished by deep expertise and a commitment to excellence. With deep roots in project generation, relationship-building, and business nurturing, Altius stands out as a rising star in the royalty sector.

In December 2025, Altius demonstrated one of its core advantages - its investment discipline and applied it in style, making a brilliant acquisition of Lithium Royalty Corp. with perfect timing just before humanoid robots supercharged the lithium market again.

"Meanwhile, following this announcement and when we do not have any material news to share with all of you, according to all legal requirements and regulations, I have significantly boosted my stake in TNR Gold by acquiring an additional 500,000 shares. I continue to increase my position. TNR Gold’s Chief Financial Officer, Maurice Brian Brooks, and John K. Davies, Chair of the Audit Committee, have recently purchased shares in the open market."

"The tendency for major mining corporations to acquire strategic stakes rather than pursue direct operational control reflects sophisticated risk management approaches that prioritise capital preservation while maintaining exposure to critical mineral price appreciation. This investment psychology becomes particularly evident when examining how established royalty companies construct portfolios that balance passive income generation with growth optionality, as demonstrated by the Altius Minerals investment in TNR Gold." (Discovery Alert)

"After months of diligent negotiations, in line with our announced Strategy of Corporate Development, we are delighted to welcome Altius, a CAN$2.9B market-cap royalty company, as a strategic investor in TNR Gold. It is a strategic, non-control position that signals confidence in our Company.

We received our first "Michelin Star", and Mr Market celebrated with us this time. TNR Gold shares traded as high as 27 cents and closed at 26 cents yesterday, jumping 30% after this announcement."

Kirill Klip, Executive Chairman of TNR Gold stated, “We are delighted to welcome Altius as a strategic, non-controlling investor in TNR Gold. This investment enables TNR Gold to advance the execution of its strategic plan and reflects strong market recognition of the quality of our assets and their potential.”

TNR Gold:

NEWS RELEASE

TNR Gold Announces TSX Venture Exchange Conditional Approval of Altius Strategic Investment

"Vancouver, British Columbia – May 13, 2026: TNR Gold Corp. (TSX-V: TNR) (“TNR”, “TNR Gold” or the “Company”) is pleased to announce that further to its April 6, 2026 news release regarding its strategic private placement by Altius Resources Inc. (“Altius Resources”), a wholly-owned subsidiary of Altius Minerals Corporation (TSX: ALS; OTCQX: ATUSF) (“Altius”), TNR Gold has now received TSX Venture Exchange conditional approval to complete the private placement (the “Private Placement”).

The Private Placement is expected to close no sooner than 5 trading days from the date of this news release. The Company will issue 23,500,000 common shares to Altius Resources under the Private Placement for gross proceeds of $4,171,250. All common shares issued to Altius Resources will bear a statutory hold period of four months and one day from the date of issuance. The proceeds of the Private Placement will be used to finance potential corporate development initiatives, property maintenance and exploration on the Company’s Shotgun Gold Project in Alaska, possible royalty acquisition of the portion of the Mariana Royalty and Los Azules Royalty it holds on behalf of a shareholder, and for general corporate and working capital requirements.

Kirill Klip continued, “Our business model provides a unique entry point into the creation of supply chains for critical materials like energy metals, which are powering the Energy rEVolution, and the gold industry that is providing the ultimate hedge during this part of the economic cycle. Our shareholders are participating in the building of The Green Energy Metals Royalty and Gold Company. In our portfolio, we have a unique combination of assets providing exposure to different parts of the mining cycle, starting with the power of blue-sky discovery, and including partnerships with industry leaders like McEwen Inc., Ganfeng Lithium, Lundin Mining and BHP as operators on the projects that could potentially generate royalty cashflows to contribute value for our shareholders. My holding of 27,763,000 common shares in TNR Gold serves as further evidence of my deep personal commitment to the Company and strong confidence in our experienced team and its strategic development plan. We look forward to working with Altius to maximize value for all our shareholders.”

On completion of the Private Placement (“Closing”) TNR Gold and Altius will enter into the following agreements:

a right of first offer agreement, pursuant to which TNR will grant to Altius Royalty Corporation, a wholly-owned subsidiary of Altius, a right of first offer on the sale of TNR’s 1.35% NSR royalty on the Mariana Lithium Project in Argentina and TNR’s 0.36% NSR royalty on the Los Azules Copper Project in Argentina (the “ROFO Agreement”); and
a voting agreement, pursuant to which (i) TNR will grant to Altius Resources the right to participate in future private placements and certain other issuances of securities by TNR, such that Altius Resources may maintain its pro rata ownership of TNR following Closing, and (ii) Altius Resources will agree to vote its TNR Shares in favour of any directors nominated by TNR’s management and other matters that are unanimously recommended by TNR’s board of directors, for a period of five years from Closing (together with the ROFO Agreement, the “Ancillary Agreements”). Since the Private Placement was announced, TNR and Altius Resources have agreed to revisions to the voting agreement to permit Altius Resources to abstain from voting on any of the voting support matters in a manner consistent with the guidance in TSX Staff Notice 2023-0001.

The Ancillary Agreements will terminate automatically upon Altius Resources ceasing to own at least 6% of TNR’s issued and outstanding shares on a non-diluted basis.

ABOUT ALTIUS MINERALS CORPORATION

ABOUT TNR GOLD Corp.

TNR Gold Corp. is working to become the green energy metals royalty and gold company.

TNR also holds a 7% NPR on the Batidero I and II properties of the Josemaria Project that is being developed by the joint-venture between Lundin Mining and BHP.

On behalf of the Board of Directors,

Kirill Klip

Executive Chairman

www.tnrgoldcorp.com

For further information concerning this news release please contact Kirill Klip +1 604-229-8129

Cautionary Statement Regarding Forward-Looking Information

Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “will”, “could” and other similar words, or statements that certain events or conditions “may” or “could” occur, although not all forward-looking statements contain these identifying words. Specifically, forward-looking statements in this news release include, but are not limited to, statements made in relation to: the terms of the Private Placement and the completion of same; the use of proceeds from the Private Placement; TNR’s future receipt of cash flows from its royalty holdings and the subsequent contribution of significant value to its shareholders; the possible growth of TNR’s value; the terms of the Ancillary Agreements and the entering into of same; and TNR’s strategy and business objectives. Such forward-looking information is based on a number of assumptions and subject to a variety of risks and uncertainties, including but not limited to those discussed in the sections entitled “Risks” and “Forward-Looking Statements” in the Company’s interim and annual Management’s Discussion and Analysis which are available under the Company’s SEDAR+ profile on www.sedarplus.ca. While management believes that the assumptions made and reflected in this news release are reasonable, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. In particular, there can be no assurance that: TNR will enter into one or more strategic transactions, partnership or a spin-out, or be able to complete any further royalty acquisitions or sales of royalty interests, or portions thereof; debt or equity financings will be available to TNR; or that TNR will be able to achieve any of its corporate objectives. TNR relies on the confirmation of its ownership for mining claims from the appropriate government agencies when paying rental payments for such mining claims requested by these agencies. There could be a risk in the future of the changing internal policies of such government agencies or risk related to the third parties, in future, challenging the ownership of such mining claims. Given these uncertainties, readers are cautioned that forward-looking statements included herein are not guarantees of future performance, and such forward-looking statements should not be unduly relied on.

Lithium Universe Confirms Signs of Intelligent Life. TNR Gold's Royalty Nears as Ganfeng's Mariana Lithium Ships First Lithium Chloride

2026-05-15T02:00:04.730-07:00

Lithium Universe confirms signs of intelligent life with Lithium prices making back-to-back advances in the last few weeks in China. Lithium LCE prices surged to CNY200,500 in May 2026.

"Recent mergers and acquisitions activity is generating renewed enthusiasm in the sector. The TNR Gold Team extends its congratulations to the Altius Team on this remarkable milestone for the Green Energy Metals space: the acquisition of Lithium Royalty Corp."

Ganfeng's Mariana Lithium NSR Royalty found two homes with nurturing, loving hands where it can grow for years to come.

Chart by Nicholas Winton

The TNR Gold Team delivered a 240% increase in share price during 2025. Building on this momentum, the company’s share price has risen an additional 53% year-to-date through April 6, 2026. The market responded positively to the announcement of the Strategic Investment by Altius Minerals, with TNR Gold shares trading as high as C$0.27 and closing at C$0.26, an increase of approximately 30%, following the announcement.

Dear Shareholders,

I am delighted to extend my warmest congratulations to all of you today.

Mr Market celebrated with us again, as TNR Gold shares closed at 24 cents yesterday, a 12% increase on the day.

We remain committed to advancing our initiatives and delivering long-term value for our shareholders.

None of this would have been possible without your unwavering support and trust in our talented Team. On behalf of the entire TNR Gold Team, I extend our deepest gratitude.

Thank you for your continued support.

Our guiding principle remains unchanged: "Solid values in uncertain times.”

Best and stay safe.

Kirill Klip,

Executive Chairman

TNR Gold Team

We build wealth for our Shareholders.

The Mining Alliance of Trust

There is no investment advice in any of our posts.

Always consult a qualified financial adviser before making any investment decisions.

Do Your Own Research.

(Only publicly available information is used on this Blog and any Kirill Klip and TNR Gold social media feeds)

"Meanwhile, following this announcement and when we do not have any material news to share with all of you, according to all legal requirements and regulations, I have significantly boosted my stake in TNR Gold by acquiring an additional 500,000 shares. I continue to increase my position. TNR Gold’s Chief Financial Officer, Maurice Brian Brooks, and John K. Davies, Chair of the Audit Committee, have recently purchased shares in the open market."

"After months of diligent negotiations, in line with our announced Strategy of Corporate Development, we are delighted to welcome Altius, a CAN$2.9B market-cap royalty company, as a strategic investor in TNR Gold. It is a strategic, non-control position that signals confidence in our Company.

We received our first "Michelin Star", and Mr Market celebrated with us this time. TNR Gold shares traded as high as 27 cents and closed at 26 cents yesterday, jumping 30% after this announcement."

Kirill Klip, Executive Chairman of TNR Gold stated, “We are delighted to welcome Altius as a strategic, non-controlling investor in TNR Gold. This investment enables TNR Gold to advance the execution of its strategic plan and reflects strong market recognition of the quality of our assets and their potential.”

The TNR Gold Team started this year on a very strong note, having delivered a 240% increase in our Company's share price in 2025. We reached an intraday high of 28 cents on April 7, 2026.

Building The Green Energy Metals Royalty and Gold Company: The TNR Gold Team Continues To Increase Our Stake

Lithium Universe confirms signs of life, and Ganfeng Lithium is accelerating the progress of the production capacity ramp-up at the Mariana Lithium project.

Gangfeng Lithium Annual Report 2025

Ganfeng Lithium completed the first export of lithium chloride produced from Mariana Lithium in Argentina in February 2026. We are looking forward to our first NSR royalty cash flow payments from the Mariana Lithium Project. You can find more information about our royalty holdings and latest developments in Argentina on the links below.

TNR Gold's Royalty Nears as Ganfeng's Mariana Lithium Ships First Lithium Chloride

"TNR Gold Corp (TSX-V:TNR, FRA:TNW, OTC:TRRXF) executive chairman Kirill Klip talked with Proactive's Stephen Gunnion about Ganfeng Lithium’s Mariana Lithium project completing its first export shipment of high-purity lithium chloride, a milestone that brings TNR Gold closer to receiving its first royalty payment.

Klip explained that the first export consisted of 240 tonnes of lithium chloride, with customs clearance confirming product quality. He described the achievement as a significant technological milestone, noting that some lithium projects can take years to reach high-purity production.

The discussion also covered the broader strategic implications of lithium chloride production, particularly its role in lithium metal and solid-state battery technology. Klip highlighted Ganfeng’s recent announcement regarding high-density batteries capable of powering electric vehicles for over 1,000km, as well as potential applications in humanoid robots." (Proactive)

“We are very pleased that Ganfeng completed the first export of lithium chloride produced from Mariana Lithium in Argentina,” stated TNR Gold’s Executive Chairman Kirill Klip. “We are looking forward to our first NSR royalty cash flow payments from the Mariana Lithium Project.”

“We are building the Green Energy Metals Royalty and Gold Company,” continued Kirill Klip. “Our business model provides a unique entry point into the creation of supply chains for critical materials like energy metals which are powering the Energy rEVolution, and the gold industry that is providing the ultimate hedge during this part of the economic cycle. Our shareholders are participating in the building of The Green Energy Metals Royalty and Gold Company. In our portfolio, we have a unique combination of assets providing exposure to different parts of the mining cycle, starting with the power of blue-sky discovery and including partnerships with industry leaders like McEwen Inc. Ganfeng Lithium, Lundin Mining and BHP as operators on the projects that could potentially generate royalty cashflows to contribute significant value for our shareholders.”

"Lithium solid-state batteries will be powering EVs & humanoid robots. Lithium chloride is the preferred chemical composition for converting lithium salt into lithium metal to use in solid-state batteries."

GEM Royalty TNR Gold Corp.

“TNR Gold Corp is your gateway to the green energy rEVolution and gold stability! We're building a leading green energy metals royalty and gold company, offering a unique entry into the supply chains powering the energy transition. With a 1.5% NSR royalty (of which 0.15% is held on behalf of a shareholder) on the Mariana Lithium Project in Argentina, operated by Ganfeng Lithium, and a 0.4% NSR (of which 0.04% is held on behalf of a shareholder) on the massive Los Azules Copper Project with McEwen Mining—backed by giants like Rio Tinto and Stellantis—we’re positioned for significant cash flows without the capital burden. Add to that our 90% stake in the Shotgun Gold Project in Alaska, near the Donlin Gold deposit, with 705,960 ounces of inferred gold resources, and we’re a diversified powerhouse. TNR delivers exposure to lithium, copper, silver and gold, blending blue-sky discovery with partnerships that drive value—perfect for investors seeking growth and a hedge in today’s economic cycle!”

Kirill Klip, Executive Chairman,

TNR Gold Corp.

“We are building The Green Energy Metals Royalty and Gold Company. Our business model provides the unique entry point into the creation of supply chains for critical materials like energy metals which are powering Tesla Energy rEVolution and Gold industry which is providing the ultimate hedge during this part of the economic cycle. Our shareholders are participating in the building of The Green Energy Metals Royalty and Gold Company. In our portfolio, we have a unique combination of assets providing exposure to different parts of mining cycle: starting with the power of blue sky discovery and including partnerships with industry leaders like McEwen Mining, Ganfeng Lithium and Lundin Mining as operators on the projects that will potentially generate royalty cashflows to contribute significant value for our shareholders.”

Kirill Klip, Executive Chairman,

TNR Gold Corp.

The links below provide more information for your further due diligence about GEM Royalty, TNR Gold and our NSR Royalty on Ganfeng's Mariana Lithium Project in Argentina.

Angela Harmantas from Proactive wrote about the new report on TNR Gold from Fundamental Research Corp.:

"TNR Gold is on the cusp of becoming a revenue-generating royalty company, according to a new report from Fundamental Research, with analysts citing rising lithium and copper prices as key drivers for near-term earnings."

"The company, which focuses on royalties from projects operated by other mining firms, has seen its shares surge 240% year-over-year, significantly outperforming the BetaShares mining royalty ETF, up just 17% over the same period.

TNR’s portfolio includes the Shotgun gold project in Alaska, as well as royalties on two advanced South American projects: the Mariana lithium project in Argentina, owned by Ganfeng Lithium (SZSE: 002460), and the Los Azules copper-gold project, controlled by mining veteran Rob McEwen and his institutions." (Angela Harmantas)

"Analysts at Fundamental Research noted that TNR is “awaiting its first royalty payment, expected this quarter, as Ganfeng began production at its Mariana lithium project last year.”

“Receiving this first payment will be a major milestone, marking TNR’s transition into a revenue-generating royalty company,” analysts wrote." (Angela Harmantas)

TNR’s Los Azules copper-gold royalty is also drawing attention. McEwen completed a feasibility study in October 2025, confirming the project’s economic attractiveness, and the project was included in Argentina’s Large Investment Incentive Regime (RIGI), granting tax and export benefits. Copper prices, meanwhile, have risen 34% year-over-year to an all-time high of US$5.82 per pound. (Angela Harmantas)

"TNR “offers exposure to gold, lithium, and copper through projects in Alaska and Argentina, and is on the verge of earning its first royalty revenue,” analysts wrote, adding that “high metal prices, combined with project milestones, position TNR for significant revenue potential.” (Angela Harmantas)

Disclaimer: Please be aware that any opinions, estimates or forecasts regarding the performance of TNR Gold Corp. in any research reports do not represent the opinions, estimates or forecasts of TNR Gold Corp. or of its management.

"Elsewhere, at the Shotgun gold project in Alaska, TNR is actively seeking a JV partner to advance the project to a Preliminary Economic Assessment (PEA). Shotgun hosts inferred resources totaling 706 Koz of gold at a grade of 1.1 grams per tonne. Analysts believe the project has expansion potential, with the Shotgun Ridge deposit remaining open along strike and at depth." (Angela Harmantas)

TNR Gold:

NEWS RELEASE

TNR Gold NSR Royalty Update – Ganfeng’s Mariana Lithium Completed the First Export of Lithium Chloride

Vancouver, British Columbia – February 23, 2026: TNR Gold Corp. (TSX-V: TNR) (“TNR”, “TNR Gold” or the “Company”) is pleased to announce that Litio Minera Argentina S.A., a subsidiary of Ganfeng Lithium (“Ganfeng Lithium”) has provided an update on the Mariana Lithium Project in Argentina. TNR holds a 1.5% Net Smelter Return Royalty (“NSR”) on the Mariana Lithium Project, of which a 0.15% NSR Royalty is held on behalf of a shareholder.

On February 18, 2026, Litio Minera Argentina S.A. stated in its announcement:

“From Salta to the World: Ganfeng Lithium Exports Lithium Chloride for the First Time from its Processing Plant in General Güemes

Mining in Salta added a significant link to its history: The Mariana Project, operated by Litio Minera Argentina S.A., a subsidiary of Ganfeng Lithium, completed its first export of lithium chloride. Customs verification was carried out at the final processing plant itself, located in the industrial park of General Güemes.

The shipment was structured in 10 containers, with 24 tons per unit, totaling 240 tons. Consolidation within the plant was a crucial detail: it protected the product from the source, reduced risks during the logistics process, and ensured that the customer receives the lithium chloride in the same condition as when it leaves the final production line.

The Mariana Project is one of the first lithium chloride producers in Argentina. The production process begins in the Llullaillaco Salt Flat, where the pre-processing ponds and wells are located, and culminates at the final processing plant in the General Güemes industrial park, from where the export originated.

Consolidating the shipment at the source allows for the protection of the product and the customer “from start to finish,” ensuring that it arrives in the same condition in which it was prepared. The transport was carried out by train, with support from trucks belonging to Salta-based carriers, reflecting a commitment to the regional economy and local suppliers.

Customs’ authorization to verify the shipment at the plant itself was described as a gesture of trust and recognition of the project’s seriousness.

For the sector, this sets a high-value operational precedent with integrated control, quality, and traceability. For the community, this step means more than just a shipment: it is confirmation that Salta can export to the world with its own identity, with a production network that involves local stakeholders, and with a strategic mineral for the global energy transition.”

TNR Gold Team proudly congratulates the entire Ganfeng Lithium Team and the communities of Argentina on the successful completion of the first shipment of high-purity lithium chloride from the Mariana Lithium Project in Salta Province. This landmark export marks a significant achievement in the project’s development and represents another key milestone for TNR Gold as we advance toward becoming a cash-flow-generating royalty company.

The shipment, comprising 240 tonnes of lithium chloride dispatched from the General Güemes facility, validates the effectiveness of the extraction technology implemented at the Mariana Project. With Ganfeng Lithium now positioning the product for sale in the market, the project looks to transition from development to full-scale commercial operations.

Importantly, current lithium prices in China have shown substantial recovery, with lithium carbonate equivalent (LCE) trading in the range of approximately $18,000–$20,000 per tonne (based on recent market data in CNY equivalents converted at prevailing rates). This compares favourably to levels below $10,000 per tonne observed about one year ago, underscoring improved market conditions and the strategic timing of this production ramp-up.

The Mariana Project strengthens Ganfeng’s presence in Argentina’s growing brine-based lithium sector and highlights the potential for sustained value creation.

TNR Gold holds a 1.5% NSR royalty on the Mariana Lithium Project (with 0.15% held on behalf of a shareholder), positioning the Company to benefit from this exciting progress.

We extend our sincere appreciation to all involved and look forward to continued success at the Mariana Project.

ABOUT TNR GOLD Corp.

TNR Gold Corp. is working to become the green energy metals royalty and gold company.

TNR also holds a 7% NPR on the Batidero I and II properties of the Josemaria Project that is being developed by the joint-venture between Lundin Mining and BHP.

On behalf of the Board of Directors,

Kirill Klip

Executive Chairman

www.tnrgoldcorp.com

For further information concerning this news release please contact Kirill Klip +1 604-229-8129

Cautionary Statement Regarding Forward-Looking Information

Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “will”, “could” and other similar words, or statements that certain events or conditions “may” or “could” occur, although not all forward-looking statements contain these identifying words. Specifically, forward-looking statements in this news release include, but are not limited to, statements made in relation to: TNR’s corporate objectives and future potential transactions being considered by the Special Committee and the Board, and the benefit that TNR’s shareholders may derive from same; TNR’s future receipt of cash flows from its royalty holdings and the subsequent contribution of significant value to its shareholders; the possible growth of TNR’s value; timing for its 2026 AGM; future revenue and increased valuations of TNR’s royalty holdings caused by potential strategic alliances with major mining companies and investment institutions; the use of potential future cash flows to fund a normal course issuer bid; the potential spin-out of the Shotgun Gold Project; future investment of substantial capital in the development of the Shotgun Gold Project by a potential partner of TNR; the future potential of the Kuskokwim Gold Belt in southwestern Alaska; the possible benefits that may accrue to the Los Azules copper project; the potential acceleration of the Los Azules project’s potential due to Rio Tinto’s involvement in the project; and the potential benefits caused by delivering ‘green copper’ to Argentina and the world. Such forward-looking information is based on a number of assumptions and subject to a variety of risks and uncertainties, including but not limited to those discussed in the sections entitled “Risks” and “Forward-Looking Statements” in the Company’s interim and annual Management’s Discussion and Analysis which are available under the Company’s SEDAR+ profile on www.sedarplus.ca. While management believes that the assumptions made and reflected in this news release are reasonable, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. In particular, there can be no assurance that: TNR will enter into one or more strategic transactions, partnership or a spin-out, or be able to complete any further royalty acquisitions or sales of royalty interests, or portions thereof; debt or equity financings will be available to TNR; or that TNR will be able to achieve any of its corporate objectives. TNR relies on the confirmation of its ownership for mining claims from the appropriate government agencies when paying rental payments for such mining claims requested by these agencies. There could be a risk in the future of the changing internal policies of such government agencies or risk related to the third parties, in future, challenging the ownership of such mining claims. Given these uncertainties, readers are cautioned that forward-looking statements included herein are not guarantees of future performance, and such forward-looking statements should not be unduly relied on.

Building The Green Energy Metals Royalty and Gold Company: TNR Gold Announces TSX Venture Exchange Conditional Approval of Altius Strategic Investment

2026-05-14T01:45:10.885-07:00

GEM Royalty TNR Gold Corp.

“TNR Gold Corp is your gateway to the green energy rEVolution and gold stability! We're building a leading green energy metals royalty and gold company, offering a unique entry into the supply chains powering the energy transition. With a 1.5% NSR royalty (of which 0.15% is held on behalf of a shareholder) on the Mariana Lithium Project in Argentina, operated by Ganfeng Lithium, and a 0.4% NSR (of which 0.04% is held on behalf of a shareholder) on the massive Los Azules Copper Project with McEwen Mining—backed by giants like Rio Tinto and Stellantis—we’re positioned for significant cash flows without the capital burden. Add to that our 90% stake in the Shotgun Gold Project in Alaska, near the Donlin Gold deposit, with 705,960 ounces of inferred gold resources, and we’re a diversified powerhouse. TNR delivers exposure to lithium, copper, silver and gold, blending blue-sky discovery with partnerships that drive value—perfect for investors seeking growth and a hedge in today’s economic cycle!”

Kirill Klip, Executive Chairman,

TNR Gold Corp.

Dear Shareholders,

I am delighted to extend my warmest congratulations to all of you today.

Mr Market celebrated with us again, as TNR Gold shares closed at 24 cents yesterday, a 12% increase on the day.

We remain committed to advancing our initiatives and delivering long-term value for our shareholders.

None of this would have been possible without your unwavering support and trust in our talented Team. On behalf of the entire TNR Gold Team, I extend our deepest gratitude.

Thank you for your continued support.

Our guiding principle remains unchanged: "Solid values in uncertain times.”

Best, and stay safe.

Kirill Klip,

Executive Chairman

TNR Gold Team

We build wealth for our Shareholders.

The Mining Alliance of Trust

There is no investment advice in any of our posts.

Always consult a qualified financial adviser before making any investment decisions.

Do Your Own Research.

(Only publicly available information is used on this Blog and any Kirill Klip and TNR Gold social media feeds.)

"Meanwhile, following this announcement and when we do not have any material news to share with all of you, according to all legal requirements and regulations, I have significantly boosted my stake in TNR Gold by acquiring an additional 500,000 shares. I continue to increase my position. TNR Gold’s Chief Financial Officer, Maurice Brian Brooks, and John K. Davies, Chair of the Audit Committee, have recently purchased shares in the open market."

"After months of diligent negotiations, in line with our announced Strategy of Corporate Development, we are delighted to welcome Altius, a CAN$2.9B market-cap royalty company, as a strategic investor in TNR Gold. It is a strategic, non-control position that signals confidence in our Company.

We received our first "Michelin Star", and Mr Market celebrated with us this time. TNR Gold shares traded as high as 27 cents and closed at 26 cents yesterday, jumping 30% after this announcement."

TNR Gold:

NEWS RELEASE

TNR Gold Announces TSX Venture Exchange Conditional Approval of Altius Strategic Investment

Kirill Klip continued, “Our business model provides a unique entry point into the creation of supply chains for critical materials like energy metals, which are powering the Energy rEVolution, and the gold industry that is providing the ultimate hedge during this part of the economic cycle. Our shareholders are participating in the building of The Green Energy Metals Royalty and Gold Company. In our portfolio, we have a unique combination of assets providing exposure to different parts of the mining cycle, starting with the power of blue-sky discovery, and including partnerships with industry leaders like McEwen Inc., Ganfeng Lithium, Lundin Mining and BHP as operators on the projects that could potentially generate royalty cashflows to contribute value for our shareholders. My holding of 27,763,000 common shares in TNR Gold serves as further evidence of my deep personal commitment to the Company and strong confidence in our experienced team and its strategic development plan. We look forward to working with Altius to maximize value for all our shareholders.”

On completion of the Private Placement (“Closing”) TNR Gold and Altius will enter into the following agreements:

a right of first offer agreement, pursuant to which TNR will grant to Altius Royalty Corporation, a wholly-owned subsidiary of Altius, a right of first offer on the sale of TNR’s 1.35% NSR royalty on the Mariana Lithium Project in Argentina and TNR’s 0.36% NSR royalty on the Los Azules Copper Project in Argentina (the “ROFO Agreement”); and
a voting agreement, pursuant to which (i) TNR will grant to Altius Resources the right to participate in future private placements and certain other issuances of securities by TNR, such that Altius Resources may maintain its pro rata ownership of TNR following Closing, and (ii) Altius Resources will agree to vote its TNR Shares in favour of any directors nominated by TNR’s management and other matters that are unanimously recommended by TNR’s board of directors, for a period of five years from Closing (together with the ROFO Agreement, the “Ancillary Agreements”). Since the Private Placement was announced, TNR and Altius Resources have agreed to revisions to the voting agreement to permit Altius Resources to abstain from voting on any of the voting support matters in a manner consistent with the guidance in TSX Staff Notice 2023-0001.

The Ancillary Agreements will terminate automatically upon Altius Resources ceasing to own at least 6% of TNR’s issued and outstanding shares on a non-diluted basis.

ABOUT ALTIUS MINERALS CORPORATION

ABOUT TNR GOLD Corp.

TNR Gold Corp. is working to become the green energy metals royalty and gold company.

TNR also holds a 7% NPR on the Batidero I and II properties of the Josemaria Project that is being developed by the joint-venture between Lundin Mining and BHP.

On behalf of the Board of Directors,

Kirill Klip

Executive Chairman

www.tnrgoldcorp.com

For further information concerning this news release please contact Kirill Klip +1 604-229-8129

Cautionary Statement Regarding Forward-Looking Information

Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “will”, “could” and other similar words, or statements that certain events or conditions “may” or “could” occur, although not all forward-looking statements contain these identifying words. Specifically, forward-looking statements in this news release include, but are not limited to, statements made in relation to: the terms of the Private Placement and the completion of same; the use of proceeds from the Private Placement; TNR’s future receipt of cash flows from its royalty holdings and the subsequent contribution of significant value to its shareholders; the possible growth of TNR’s value; the terms of the Ancillary Agreements and the entering into of same; and TNR’s strategy and business objectives. Such forward-looking information is based on a number of assumptions and subject to a variety of risks and uncertainties, including but not limited to those discussed in the sections entitled “Risks” and “Forward-Looking Statements” in the Company’s interim and annual Management’s Discussion and Analysis which are available under the Company’s SEDAR+ profile on www.sedarplus.ca. While management believes that the assumptions made and reflected in this news release are reasonable, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. In particular, there can be no assurance that: TNR will enter into one or more strategic transactions, partnership or a spin-out, or be able to complete any further royalty acquisitions or sales of royalty interests, or portions thereof; debt or equity financings will be available to TNR; or that TNR will be able to achieve any of its corporate objectives. TNR relies on the confirmation of its ownership for mining claims from the appropriate government agencies when paying rental payments for such mining claims requested by these agencies. There could be a risk in the future of the changing internal policies of such government agencies or risk related to the third parties, in future, challenging the ownership of such mining claims. Given these uncertainties, readers are cautioned that forward-looking statements included herein are not guarantees of future performance, and such forward-looking statements should not be unduly relied on.

TNR Gold NSR Royalty Holding: "Rio Tinto Considers Raising Stake in Argentina’s Los Azules Copper Project"

2026-05-10T01:17:00.000-07:00

GEM Royalty TNR Gold Corp.

“TNR Gold Corp is your gateway to the green energy rEVolution and gold stability! We're building a leading green energy metals royalty and gold company, offering a unique entry into the supply chains powering the energy transition. With a 1.5% NSR royalty (of which 0.15% is held on behalf of a shareholder) on the Mariana Lithium Project in Argentina, operated by Ganfeng Lithium, and a 0.4% NSR (of which 0.04% is held on behalf of a shareholder) on the massive Los Azules Copper Project with McEwen Mining—backed by giants like Rio Tinto and Stellantis—we’re positioned for significant cash flows without the capital burden. Add to that our 90% stake in the Shotgun Gold Project in Alaska, near the Donlin Gold deposit, with 705,960 ounces of inferred gold resources, and we’re a diversified powerhouse. TNR delivers exposure to lithium, copper, silver and gold, blending blue-sky discovery with partnerships that drive value—perfect for investors seeking growth and a hedge in today’s economic cycle!”

Kirill Klip, Executive Chairman,

TNR Gold Corp.

“We are building The Green Energy Metals Royalty and Gold Company. Our business model provides the unique entry point into the creation of supply chains for critical materials like energy metals which are powering Tesla Energy rEVolution and Gold industry which is providing the ultimate hedge during this part of the economic cycle. Our shareholders are participating in the building of The Green Energy Metals Royalty and Gold Company. In our portfolio, we have a unique combination of assets providing exposure to different parts of mining cycle: starting with the power of blue sky discovery and including partnerships with industry leaders like McEwen Mining, Ganfeng Lithium and Lundin Mining as operators on the projects that will potentially generate royalty cashflows to contribute significant value for our shareholders.”

Kirill Klip, Executive Chairman,

TNR Gold Corp.

Reuters reports:

"Rio Tinto is evaluating the economic potential of McEwen Copper’s giant Los Azules project in Argentina as the mining group considers increasing its 17.2% stake in the development, two industry sources said.

Los Azules ‌is among the world’s 10 largest undeveloped copper projects and the move highlights Rio Tinto’s push for large-scale copper assets as miners scramble to meet surging demand from data centres and the global clean energy transition."

Chart by Nicholas Winton

Today, you can learn more about the latest developments with TNR Gold and our NSR Royalty Holding on the Los Azules Copper, Gold and Silver Project in Argentina.

None of this would have been possible without your unwavering support and trust in our talented Team. On behalf of the entire TNR Gold Team, I extend our deepest gratitude.

"Kirill Klip, Executive Chairman of TNR Gold stated, “We are delighted to welcome Altius as a strategic, non-controlling investor in TNR Gold. This investment enables TNR Gold to advance the execution of its strategic plan and reflects strong market recognition of the quality of our assets and their potential.”

"Kirill Klip continued, “Our business model provides a unique entry point into the creation of supply chains for critical materials like energy metals, which are powering the Energy rEVolution, and the gold industry that is providing the ultimate hedge during this part of the economic cycle. Our shareholders are participating in the building of The Green Energy Metals Royalty and Gold Company. In our portfolio, we have a unique combination of assets providing exposure to different parts of the mining cycle, starting with the power of blue-sky discovery, and including partnerships with industry leaders like McEwen Inc., Ganfeng Lithium, Lundin Mining and BHP as operators on the projects that could potentially generate royalty cashflows to contribute value for our shareholders. My holding of 27,263,000 common shares in TNR Gold serves as further evidence of my deep personal commitment to the Company and strong confidence in our experienced team and its strategic development plan. We look forward to working with Altius to maximize value for all our shareholders.”

Meanwhile, following this announcement and when we do not have any material news to share with all of you, according to all legal requirements and regulations, I have significantly boosted my stake in TNR Gold by acquiring an additional 500,000 shares. I continue to increase my position. TNR Gold’s Chief Financial Officer, Maurice Brian Brooks, and John K. Davies, Chair of the Audit Committee, have recently purchased shares in the open market.

This strategic partnership with Altius, combined with insider buying, positions TNR Gold to capitalise on its unique royalty portfolio and partnerships with leading operators, while advancing value creation for all shareholders.

Rob confirmed to Panorama Minero at PDAC 2026: "At Los Azules, we hope to begin construction in 2027 and reach production by 2030."

TNR Gold shareholders celebrated the first export of lithium chloride from Ganfeng's Mariana Lithium Project in Argentina in February, and our company is transitioning to a cash-flow-generating royalty company.

“We are very pleased that Ganfeng completed the first export of lithium chloride produced from Mariana Lithium in Argentina,” stated TNR Gold’s Executive Chairman Kirill Klip. “We are looking forward to our first NSR royalty cash flow payments from the Mariana Lithium Project.”

Now, Los Azules is entering a phase of financing and following actual construction. Strategic partnership with IFC, acceptance of Los Azules into RIGI (Argentina Regime of Incentives for Investment), and the release of the Feasibility Study were the major milestones achieved by McEwen Copper last year.

Today, you can learn more about this "Copper Unicorn", as Rob calls it, and the TNR Gold NSR royalty holding.

The Green critical metal for the Energy rEVolution becomes red hot. Copper hit a record at $14,125 a ton on LME on January 30, 2026.

"TNR Gold's 2025 share price surged 240% from CAD 0.05 to 0.17, fueled by insider purchases totalling over 2 million shares and minimal dilution, as detailed in the attached chart showing a bull flag breakout and heavy accumulation signals." (Analysis by Grok)

The TNR Gold Team started this year on a very strong note, after delivering a 240% increase in our Company's share price in 2025. We reached an intraday high of 28 cents on April 7, 2026.

Building The Green Energy Metals Royalty and Gold Company: The TNR Gold Team Continues To Increase Our Stake

None of this would have been possible without your unwavering support and trust in our talented Team. On behalf of the entire TNR Gold Team, I extend our deepest gratitude.

“I would like to thank all our shareholders for your overwhelming support, and the vote of confidence in the TNR Gold Team and our strategy for maximizing shareholders value,” stated Kirill Klip, Executive Chairman of TNR Gold. “Our Company has repaid our investment loan in full, and we do not have any debt. We believe that the recent market prices of our shares do not fully reflect the underlying value of TNR’s assets. Our transformation from a project-generator junior mining company into a cashflow-generating royalty company may bring the necessary catalyst for improved market valuation of our assets.”

"Rio Tinto, through Nuton, invested an additional $35 million in October 2024, building on prior funding to test and deploy low-water, high-recovery copper extraction methods at Los Azules, a Tier 1 asset with 10.2 billion pounds of reserves and projected annual production of 148,000 tonnes over 21 years at $1.71/lb cash costs. The project has been accepted into Argentina's incentive regime."

Basic supply-and-demand dynamics, grounded in straightforward analysis, are steering the United States and China toward a pragmatic trade agreement. Despite the heated discourse, market behaviour will ultimately be governed by core economic principles.

The US and China, as the world’s largest economies, prioritise sustained growth. Key sectors driving this expansion - energy transition, electric vehicles, artificial intelligence, and robotics - depend on a reliable copper supply.

China is doing everything to reignite its growth. Its economy is coming back, and a powerful economic stimulus is making its way through the supply system. Nowadays, Goldman Sachs' target price for Copper of $6.8 per lb and Rob McEwen's smiles seem not so far away after all.

Angela Harmantas from Proactive wrote about the new report on TNR Gold from Fundamental Research Corp.:

"TNR Gold is on the cusp of becoming a revenue-generating royalty company, according to a new report from Fundamental Research, with analysts citing rising lithium and copper prices as key drivers for near-term earnings."

"The company, which focuses on royalties from projects operated by other mining firms, has seen its shares surge 240% year-over-year, significantly outperforming the BetaShares mining royalty ETF, up just 17% over the same period.

TNR’s portfolio includes the Shotgun gold project in Alaska, as well as royalties on two advanced South American projects: the Mariana lithium project in Argentina, owned by Ganfeng Lithium (SZSE: 002460), and the Los Azules copper-gold project, controlled by mining veteran Rob McEwen and his institutions." (Angela Harmantas)

"Analysts at Fundamental Research noted that TNR is “awaiting its first royalty payment, expected this quarter, as Ganfeng began production at its Mariana lithium project last year.”

“Receiving this first payment will be a major milestone, marking TNR’s transition into a revenue-generating royalty company,” analysts wrote." (Angela Harmantas)

TNR’s Los Azules copper-gold royalty is also drawing attention. McEwen completed a feasibility study in October 2025, confirming the project’s economic attractiveness, and the project was included in Argentina’s Large Investment Incentive Regime (RIGI), granting tax and export benefits. Copper prices, meanwhile, have risen 34% year-over-year to an all-time high of US$5.82 per pound. Fundamental Research estimates. (Angela Harmantas)

"TNR “offers exposure to gold, lithium, and copper through projects in Alaska and Argentina, and is on the verge of earning its first royalty revenue,” analysts wrote, adding that “high metal prices, combined with project milestones, position TNR for significant revenue potential.” (Angela Harmantas)

"Elsewhere, at the Shotgun gold project in Alaska, TNR is actively seeking a JV partner to advance the project to a Preliminary Economic Assessment (PEA). Shotgun hosts inferred resources totaling 706 Koz of gold at a grade of 1.1 grams per tonne. Analysts believe the project has expansion potential, with the Shotgun Ridge deposit remaining open along strike and at depth." (Angela Harmantas)

Angela Harmantas: "TNR Gold Nears First Royalty Revenue as Lithium, Copper Markets Surge: Analysts"

Mining.com:

Rio Tinto considers raising stake in Argentina’s Los Azules copper project

Reuters

"Rio Tinto is evaluating the economic potential of McEwen Copper’s giant Los Azules project in Argentina as the mining group considers increasing its 17.2% stake in the development, two industry sources said.

Los Azules ‌is among the world’s 10 largest undeveloped copper projects and the move highlights Rio Tinto’s push for large-scale copper assets as miners scramble to meet surging demand from data centres and the global clean energy transition.

Rio, which owns the stake in Los Azules through its copper technology venture Nuton LLC, is also focusing on boosting organic growth through ⁠its stakes in undeveloped deposits following the collapse of merger talks with Glencore.

Its technical team is evaluating the economic potential of Los Azules, while testing Nuton’s proprietary leaching technology at the site, the sources with knowledge of the matter said.

Rio Tinto declined to comment.

“We are obviously discussing with our existing partner Nuton because their technology makes so much sense,” Michael Meding, managing director at Canadian miner McEwen Copper, told Reuters on Thursday.

“Now that Rio Tinto is building their copper pipeline, they basically have a mandate to add copper for their production profile. So we are ‌having ⁠fruitful conversations.”

Securing a larger stake in Los Azules would bolster Rio’s copper pipeline at a time when new discoveries are scarce and competition for quality assets is fierce.

Nuton invested about $100 million for the stake in McEwen Copper, a subsidiary of McEwen Mining, according to McEwen’s investor presentation in February.

A feasibility study released in ⁠October 2025 estimates an after-tax net present value of $2.9 billion, with the project targeting first production by 2030. Average production over the first five years is projected at about 204,800 metric tons per year of ⁠copper cathode.

Aside from Nuton, automaker Stellantis holds an 18.3% stake in McEwen Copper, having invested around $275 million as part of its global push to secure raw materials for electric vehicle ⁠batteries.

McEwen Copper is seeking about $4 billion in initial capital to develop the mine. The company previously said it planned an initial public offering of about $300 million toward the end of this year.

(By Clara Denina and Divya Rajagopal; Editing by Veronica Brown and Emelia Sithole-Matarise)"

TNR Gold NSR Royalty Holding - Rob McEwen: “At Los Azules, We Hope to Begin Construction in 2027 and Reach Production by 2030”

TNR Gold Los Azules Copper NSR Royalty: Copper Surged to a New All-Time High at $14,125 per Ton on LME

Powered by Tesla Energy rEVolution: TNR Gold Los Azules Copper NSR Royalty Holding with McEwen Mining Presentation

TNR Gold CEO Significantly Boosts Stake with 500,000 Shares. No, the CFO Is Not Short-Selling Our Company Shares

2026-04-11T23:35:00.000-07:00

Dear TNR Gold Shareholders,

I would like to congratulate you once again on all our success!

Our strategy is working and delivering results.

The TNR Gold Team delivered a 240% increase in share price during 2025. Building on this momentum, the company’s share price has risen an additional 53% year-to-date in 2026 as of April 6, 2026. The market responded positively to the announcement of the Strategic Investment by Altius Minerals, with TNR Gold shares trading as high as C$0.27 and closing at C$0.26, an increase of approximately 30%, following the announcement. The completion of the Private Placement (“Closing”) is subject to customary conditions precedent, including approval of the TSX Venture Exchange.

None of this would have been possible without your unwavering support and trust in our talented Team. On behalf of the entire TNR Gold Team, I extend our deepest gratitude.

"One of the most effective, yet illegal, methods for accumulating shares in a fundamentally strong company at artificially depressed prices is a market manipulation scheme known as “Poop and Scoop.”

This practice, which is prohibited by the U.S. Securities and Exchange Commission (SEC), involves the deliberate dissemination of false or misleading negative information about the company and its management. By spreading such rumors, perpetrators aim to generate fear, uncertainty, and doubt (FUD) among existing shareholders, triggering panic selling and driving the stock price significantly lower. Once the share price has been sufficiently depressed, the operators then accumulate large positions at the distressed valuations before the misinformation is corrected and the price recovers.

This tactic constitutes securities fraud and can result in severe regulatory penalties, including fines and criminal prosecution. Investors are encouraged to rely on verified company disclosures and credible sources rather than unverified rumors when making investment decisions." (Analysis by Grok)

Hopefully, you all learned about these dirty tricks by now and are not falling for them.

There is only one way for a successful company to deal with this very legally unpleasant situation for the dirty operators - to become even more successful.

We are working on it.

"Kirill Klip, Executive Chairman of TNR Gold stated, “We are delighted to welcome Altius as a strategic, non-controlling investor in TNR Gold. This investment enables TNR Gold to advance the execution of its strategic plan and reflects strong market recognition of the quality of our assets and their potential.”

"Kirill Klip continued, “Our business model provides a unique entry point into the creation of supply chains for critical materials like energy metals, which are powering the Energy rEVolution, and the gold industry that is providing the ultimate hedge during this part of the economic cycle. Our shareholders are participating in the building of The Green Energy Metals Royalty and Gold Company. In our portfolio, we have a unique combination of assets providing exposure to different parts of the mining cycle, starting with the power of blue-sky discovery, and including partnerships with industry leaders like McEwen Inc., Ganfeng Lithium, Lundin Mining and BHP as operators on the projects that could potentially generate royalty cashflows to contribute value for our shareholders. My holding of 27,263,000 common shares in TNR Gold serves as further evidence of my deep personal commitment to the Company and strong confidence in our experienced team and its strategic development plan. We look forward to working with Altius to maximize value for all our shareholders.”

Meanwhile, following this announcement and when we do not have any material news to share with all of you, according to all legal requirements and regulations, I have significantly boosted my stake in TNR Gold by acquiring an additional 500,000 shares. I continue to increase my position. And NO, the CFO is NOT short-selling our Company shares.

We note that certain parties in New York appear increasingly unsettled by the measurable progress and success we have achieved in building a high-quality junior mining company in Canada, focused on delivering long-term value for all our shareholders.

They would have investors believe that earning the trust of a leading mining company in Canada—following thorough and professional due diligence—and welcoming Altius Minerals, a respected Canadian royalty company with a market capitalisation of approximately C$2.9 billion, to our shareholder base is somehow detrimental to our company and its shareholders.

We strongly disagree. On the contrary, the participation of such a credible and sophisticated strategic investor represents a significant vote of confidence in our strategy, team, and asset portfolio, and serves as a clear positive development for all shareholders.

We strongly reject the narrative that our strategies are flawed and that the Company should cease pursuing growth for the benefit of all shareholders. On the contrary, we remain firmly committed to executing our proven strategy in building TNR Gold as the premier, dynamic Green Energy Metals and Royalty Company, with a rising market capitalisation.

Certain parties would have you believe that our action plan is flawed or misguided. However, the facts tell a different story. Our strategy is explicitly designed to maximise the return of royalty cash flows to shareholders, initiate a share buyback program following regulatory approval, and lay the foundation for a sustainable dividend policy once all necessary requirements are met.

This plan prioritises long-term shareholder value through disciplined capital allocation and prudent financial management. We remain fully committed to executing it with transparency and focus.

While we do not comment on rumours as a matter of Company policy, we remain fully committed to transparency and to delivering on our strategy.

We cannot cure depression, but we can share real facts with all our shareholders and reasons to celebrate.

This transaction marks a significant milestone not only for TNR Gold but for the broader Canadian mining industry. It brings renewed optimism to many junior mining companies and their leadership teams, demonstrating the willingness of established royalty companies, like Altius, to actively support and invest in Canada’s mining sector. The Altius team shares our core values, vision, and strategic objectives as we continue to build a dynamic Green Energy Metals royalty and gold company.

The investment provides a clear vote of confidence in our team and strategy, further validating the quality and potential of our royalty portfolio, which is now gaining strong industry recognition.

We continue to learn from the best industry leaders in our business: Altius Minerals, Rob McEwen, Ganfeng Lithium, Lundin Mining, Rio Tinto, BHP and NovaGold.

Wang Xioshen, Vice Chairman of Ganfeng Lithium, shared with me once that in the early years of Ganfeng Lithium, one of the company's key aspirations was to secure an investment from SQM. He described that potential partnership as the ultimate "rubber stamp of approval" for both business and the Ganfeng team. Mr Wang revealed that "Ganfeng was prepared to gift up to 10% of the company's equity" to attain that level of legitimacy and credibility in the industry.

In our "Amazing Deal" - as it is called by investment pros - with Altius Minerals, we are getting for 9.9% equity stake a 30-day Volume Weighted Average Price at the high of the average after 240% increase in our share price in 2025 and NO warrants.

They know very well why they are investing in TNR Gold; hopefully, you can learn today more as well.

Below, you can find more information about our Company and our royalties. Discovery Alert provided a detailed professional analysis of our deal with Altius: "Altius Minerals TNR Gold Investment: Mining Royalty Deal", and I encourage you to make your own research using the links below.

Thank you once again for your continued partnership.

On your behalf, I thank the exceptionally talented TNR Gold Team for their dedication and skill in advancing our vision. Together, we have delivered a share-price increase of 240% in 2025, and we are now focused on achieving our next well-defined strategic goals.

Our guiding principle remains unchanged: "Solid values in uncertain times.”

Best and stay safe.

Kirill Klip,

Executive Chairman

TNR Gold Team

We build wealth for our Shareholders.

The Mining Alliance of Trust

There is no investment advice in any of our posts.

Always consult a qualified financial adviser before making any investment decisions.

Do Your Own Research.

(Only publicly available information is used on this Blog and any Kirill Klip and TNR Gold social media feeds)

Royalty Giant Altius Takes Strategic Stake in TNR Gold, Sending Shares Surging 30%

Dear TNR Gold Shareholders,

After months of diligent negotiations, and in line with our previously announced corporate development strategy, TNR Gold Corp. is pleased to welcome Altius Minerals Corporation — a leading Canadian royalty company with a market capitalisation of C$2.9 billion — as a strategic investor in the Company.

Altius takes a strategic, non-controlling interest consisting of 23,500,000 common shares for C$4.2 million. This investment represents a strong endorsement of TNR Gold’s management team, asset portfolio, and long-term vision.

The market responded positively to the announcement, with TNR Gold shares trading as high as C$0.27 and closing at C$0.26, an increase of approximately 30%.

This transaction marks a significant milestone not only for TNR Gold but for the broader Canadian mining industry. It brings renewed optimism to many junior mining companies and their leadership teams, demonstrating the willingness of established royalty companies, like Altius, to actively support and invest in Canada’s mining sector. The Altius team shares our core values, vision, and strategic objectives as we continue to build a dynamic Green Energy Metals royalty and gold company.

The investment provides a clear vote of confidence in our team and strategy, further validating the quality and potential of our royalty portfolio, which is now gaining strong industry recognition.

As a founder of GEM Royalty TNR Gold Corp. and significant shareholder with approximately 28 million shares, I remain deeply committed to the Company’s success and aligned with all shareholders.

After this new financing is completed, TNR Gold will be well-positioned to execute the next phase of its strategic plan. We will actively communicate our Green Energy Metals (GEM) Royalty story to the broader market and institutional investors. Our priorities include consolidating and expanding our royalty holdings, maximising the return of royalty cash flow to shareholders, initiating a share buyback program following regulatory approval, and progressing toward the implementation of a sustainable dividend policy once all necessary requirements are met.

We look forward to advancing our vision and delivering long-term value for all TNR Gold shareholders.

Thank you for all your congratulations, and I am very pleased to see that sophisticated professional investors are calling our deal with Altius "amazing".

"Yesterday, TNR welcomed Altius Minerals $ALS.TO $ATUSF (Market cap: C$2.9 billion) as a strategic shareholder. The deal was priced under 18 cents and carried no warrants.

A C$2.9 billion company invested in a microcap and demanded no warrants.

TNR got this amazing deal because Altius saw the value of the royalties and wanted a right of first refusal* on two of them instead. After announcing the deal, TNR shares closed at 26 cents Cdn, up 30% on the day." (Kashayap Sriram, April 7, 2026)

* (KK - Actually, it is even better, it's Right of First Offer "ROFO", not the Right of First Refusal "ROFR")

I would like to personally express our deep gratitude to Kashyap Sriram for his strong, vocal, and uncompromising support of the continued integrity of our mining investment community and the core values we all share at The Mining Alliance of Trust.

Our fellow shareholders, none of this would have been possible without your unwavering support and trust in our talented Team. On behalf of the entire TNR Gold Team, I extend our deepest gratitude.

My Dreams are beautiful, but money talks; we are in the business of making money.

The TNR Gold Team delivered a 240% increase in share price during 2025. Building on this momentum, the company’s share price has risen an additional 53% year-to-date in 2026 as of April 6, 2026.

Thank you once again for your continued partnership.

Our guiding principle remains unchanged: "Solid values in uncertain times.”

Best and stay safe.

Kirill Klip,

Executive Chairman

TNR Gold Team

We build wealth for our Shareholders.

The Mining Alliance of Trust

There is no investment advice in any of our posts.

Always consult a qualified financial adviser before making any investment decisions.

Do Your Own Research.

(Only publicly available information is used on this Blog and any Kirill Klip and TNR Gold social media feeds)

GEM Royalty TNR Gold Corp.

“TNR Gold Corp is your gateway to the green energy rEVolution and gold stability! We're building a leading green energy metals royalty and gold company, offering a unique entry into the supply chains powering the energy transition. With a 1.5% NSR royalty (of which 0.15% is held on behalf of a shareholder) on the Mariana Lithium Project in Argentina, operated by Ganfeng Lithium, and a 0.4% NSR (of which 0.04% is held on behalf of a shareholder) on the massive Los Azules Copper Project with McEwen Mining—backed by giants like Rio Tinto and Stellantis—we’re positioned for significant cash flows without the capital burden. Add to that our 90% stake in the Shotgun Gold Project in Alaska, near the Donlin Gold deposit, with 705,960 ounces of inferred gold resources, and we’re a diversified powerhouse. TNR delivers exposure to lithium, copper, silver and gold, blending blue-sky discovery with partnerships that drive value—perfect for investors seeking growth and a hedge in today’s economic cycle!”

Kirill Klip, Executive Chairman,

TNR Gold Corp.

“We are building The Green Energy Metals Royalty and Gold Company. Our business model provides the unique entry point into the creation of supply chains for critical materials like energy metals which are powering Tesla Energy rEVolution and Gold industry which is providing the ultimate hedge during this part of the economic cycle. Our shareholders are participating in the building of The Green Energy Metals Royalty and Gold Company. In our portfolio, we have a unique combination of assets providing exposure to different parts of mining cycle: starting with the power of blue sky discovery and including partnerships with industry leaders like McEwen Mining, Ganfeng Lithium and Lundin Mining as operators on the projects that will potentially generate royalty cashflows to contribute significant value for our shareholders.”

Kirill Klip, Executive Chairman,

TNR Gold Corp.

"TNR Gold's 2025 share price surged 240% from CAD 0.05 to 0.17, fueled by insider purchases totalling over 2 million shares and minimal dilution, as detailed in the attached chart showing a bull flag breakout and heavy accumulation signals." (Analysis by Grok)

The TNR Gold Team started this year on a very strong note, after delivering a 240% increase in our Company's share price in 2025. We reached an intraday high of 28 cents on April 7, 2026.

Building The Green Energy Metals Royalty and Gold Company: The TNR Gold Team Continues To Increase Our Stake

Angela Harmantas from Proactive wrote about the new report on TNR Gold from Fundamental Research Corp.:

"TNR Gold is on the cusp of becoming a revenue-generating royalty company, according to a new report from Fundamental Research, with analysts citing rising lithium and copper prices as key drivers for near-term earnings."

"The company, which focuses on royalties from projects operated by other mining firms, has seen its shares surge 240% year-over-year, significantly outperforming the BetaShares mining royalty ETF, up just 17% over the same period.

TNR’s portfolio includes the Shotgun gold project in Alaska, as well as royalties on two advanced South American projects: the Mariana lithium project in Argentina, owned by Ganfeng Lithium (SZSE: 002460), and the Los Azules copper-gold project, controlled by mining veteran Rob McEwen and his institutions." (Angela Harmantas)

"Analysts at Fundamental Research noted that TNR is “awaiting its first royalty payment, expected this quarter, as Ganfeng began production at its Mariana lithium project last year.”

“Receiving this first payment will be a major milestone, marking TNR’s transition into a revenue-generating royalty company,” analysts wrote." (Angela Harmantas)

TNR’s Los Azules copper-gold royalty is also drawing attention. McEwen completed a feasibility study in October 2025, confirming the project’s economic attractiveness, and the project was included in Argentina’s Large Investment Incentive Regime (RIGI), granting tax and export benefits. Copper prices, meanwhile, have risen 34% year-over-year to an all-time high of US$5.82 per pound. (Angela Harmantas)

"TNR “offers exposure to gold, lithium, and copper through projects in Alaska and Argentina, and is on the verge of earning its first royalty revenue,” analysts wrote, adding that “high metal prices, combined with project milestones, position TNR for significant revenue potential.” (Angela Harmantas)

"Elsewhere, at the Shotgun gold project in Alaska, TNR is actively seeking a JV partner to advance the project to a Preliminary Economic Assessment (PEA). Shotgun hosts inferred resources totaling 706 Koz of gold at a grade of 1.1 grams per tonne. Analysts believe the project has expansion potential, with the Shotgun Ridge deposit remaining open along strike and at depth." (Angela Harmantas)

Angela Harmantas: "TNR Gold Nears First Royalty Revenue as Lithium, Copper Markets Surge: Analysts"

Discovery Alert: "Altius Minerals TNR Gold Investment: Mining Royalty Deal"

TNR Gold Chair on Altius C$4.2M Strategic Investment, Mariana Lithium Royalty Flow, Los Azules Copper and Shotgun Gold Projects

2026-04-10T05:23:00.000-07:00

"Dear TNR Gold Shareholders,

After months of diligent negotiations, and in line with our previously announced corporate development strategy, TNR Gold Corp. is pleased to welcome Altius Minerals Corporation — a leading Canadian royalty company with a market capitalisation of C$2.9 billion — as a strategic investor in the Company.

Altius takes a strategic, non-controlling interest consisting of 23,500,000 common shares for C$4.2 million. This investment represents a strong endorsement of TNR Gold’s management team, asset portfolio, and long-term vision.

The market responded positively to the announcement, with TNR Gold shares trading as high as C$0.27 and closing at C$0.26, an increase of approximately 30%..."

Royalty Giant Altius Takes Strategic Stake in TNR Gold, Sending Shares Surging 30%

"Klip described the investment as a strong endorsement of TNR Gold’s long-term strategy, noting that Altius has taken a non-control position of 23.5 million shares.

He said: “It’s a strategic non-control position that signals confidence in our company,” highlighting the significance of backing from a well-established player in the mining royalty sector. The announcement triggered a strong market response, with TNR Gold’s share price rising 30% following the news.

Klip pointed to this as validation of the company’s corporate development strategy and growing recognition of its royalty portfolio. He also outlined how the investment strengthens TNR Gold’s financial position, enabling it to advance its goal of becoming a leading green energy metals royalty and gold company. The company is now focused on expanding its royalty holdings and delivering shareholder returns through potential buybacks and future dividends.

Looking ahead, Klip noted that TNR Gold expects to begin receiving royalty payments in the near term, supported by production progress at its Mariana Lithium project, while continued developments at Los Azules and other assets provide additional upside.

For more updates like this, visit Proactive’s YouTube channel, give the video a like, subscribe, and enable notifications so you never miss new content." (Proactive)

GEM Royalty TNR Gold Corp.

“TNR Gold Corp is your gateway to the green energy rEVolution and gold stability! We're building a leading green energy metals royalty and gold company, offering a unique entry into the supply chains powering the energy transition. With a 1.5% NSR royalty (of which 0.15% is held on behalf of a shareholder) on the Mariana Lithium Project in Argentina, operated by Ganfeng Lithium, and a 0.4% NSR (of which 0.04% is held on behalf of a shareholder) on the massive Los Azules Copper Project with McEwen Mining—backed by giants like Rio Tinto and Stellantis—we’re positioned for significant cash flows without the capital burden. Add to that our 90% stake in the Shotgun Gold Project in Alaska, near the Donlin Gold deposit, with 705,960 ounces of inferred gold resources, and we’re a diversified powerhouse. TNR delivers exposure to lithium, copper, silver and gold, blending blue-sky discovery with partnerships that drive value—perfect for investors seeking growth and a hedge in today’s economic cycle!”

Kirill Klip, Executive Chairman,

TNR Gold Corp.

After months of diligent negotiations, in line with our announced Strategy of Corporate Development, we are delighted to welcome Altius, a CAN$2.9B market-cap royalty company, as a strategic investor in TNR Gold. It is a strategic, non-control position that signals confidence in our Company.

We received our first "Michelin Star", and Mr Market celebrated with us this time. TNR Gold shares traded as high as 27 cents and closed at 26 cents yesterday, jumping 30% after this announcement.

"Kirill Klip, Executive Chairman of TNR Gold, stated, “We are delighted to welcome Altius as a strategic, non-controlling investor in TNR Gold. This investment enables TNR Gold to advance the execution of its strategic plan and reflects strong market recognition of the quality of our assets and their potential.”

"Kirill Klip continued, “Our business model provides a unique entry point into the creation of supply chains for critical materials like energy metals, which are powering the Energy rEVolution, and the gold industry that is providing the ultimate hedge during this part of the economic cycle. Our shareholders are participating in the building of The Green Energy Metals Royalty and Gold Company. In our portfolio, we have a unique combination of assets providing exposure to different parts of the mining cycle, starting with the power of blue-sky discovery, and including partnerships with industry leaders like McEwen Inc., Ganfeng Lithium, Lundin Mining and BHP as operators on the projects that could potentially generate royalty cashflows to contribute value for our shareholders. My holding of 27,263,000 common shares in TNR Gold serves as further evidence of my deep personal commitment to the Company and strong confidence in our experienced team and its strategic development plan. We look forward to working with Altius to maximize value for all our shareholders.”

TNR Gold:

NEWS RELEASE

TNR Gold Welcomes CAN$4.2 Million Strategic Investment by Altius Minerals

Vancouver, British Columbia – April 6, 2026: TNR Gold Corp. (TSX-V: TNR) (“TNR”, “TNR Gold” or the “Company”) is pleased to announce that the Company plans to complete a private placement by Altius Resources Inc. (“Altius Resources”), a wholly-owned subsidiary of Altius Minerals Corporation (TSX: ALS; OTCQX: ATUSF) (“Altius”) for gross aggregate proceeds of approximately CAN$4.2 million (the “Private Placement”).

TNR and Altius Resources have entered into a subscription agreement dated April 2, 2026 (the “Subscription Agreement”), pursuant to which Altius Resources has agreed to subscribe for and take up 23,500,000 common shares in the capital of the Company (the “Offered Shares”), representing approximately 9.9% of TNR’s issued and outstanding common shares (“TNR Shares”) on a post-issuance basis, at an issue price per Offered Share equal to the 30-day VWAP of the Shares for the 30 trading days prior to the date of the Subscription Agreement, being CAN$0.1775 per TNR Share.

The proceeds of the Strategic Investment will be used to finance potential corporate development initiatives and for general corporate and working capital requirements. There is no person acting at the request of the Company, or to the knowledge of the Company, purporting to act who is entitled to any finder or other fiscal advisory or similar fee in connection with the Offered Shares or transactions contemplated herein.

Kirill Klip continued, “Our business model provides a unique entry point into the creation of supply chains for critical materials like energy metals, which are powering the Energy rEVolution, and the gold industry that is providing the ultimate hedge during this part of the economic cycle. Our shareholders are participating in the building of The Green Energy Metals Royalty and Gold Company. In our portfolio, we have a unique combination of assets providing exposure to different parts of the mining cycle, starting with the power of blue-sky discovery, and including partnerships with industry leaders like McEwen Inc., Ganfeng Lithium, Lundin Mining and BHP as operators on the projects that could potentially generate royalty cashflows to contribute value for our shareholders. My holding of 27,263,000 common shares in TNR Gold serves as further evidence of my deep personal commitment to the Company and strong confidence in our experienced team and its strategic development plan. We look forward to working with Altius to maximize value for all our shareholders.”

The completion of the Private Placement (“Closing”) is subject to customary conditions precedent, including approval of the TSX Venture Exchange, as well as the execution of the following agreements:

a right of first offer agreement, pursuant to which TNR will grant to Altius Royalty Corporation, a wholly-owned subsidiary of Altius, a right of first offer on the sale of TNR’s 1.35% NSR royalty on the Mariana Lithium Project in Argentina and TNR’s 0.36% NSR royalty on the Los Azules Copper Project in Argentina (the “ROFO Agreement”); and
a voting agreement, pursuant to which (i) TNR will grant to Altius Resources the right to participate in future private placements and certain other issuances of securities by TNR, such that Altius Resources may maintain its pro rata ownership of TNR following Closing, and (ii) Altius Resources will agree to vote its TNR Shares in favour of any directors nominated by TNR’s management and other matters that are unanimously recommended by TNR’s board of directors, for a period of five years from Closing (together with the ROFO Agreement, the “Ancillary Agreements”).

If entered into, the Ancillary Agreements will terminate automatically upon Altius Resources ceasing to own at least 6% of TNR’s issued and outstanding shares on a non-diluted basis.

ABOUT ALTIUS MINERALS CORPORATION

ABOUT TNR GOLD Corp.

TNR Gold Corp. is working to become the green energy metals royalty and gold company.

The Mariana Lithium Project is 100% owned by Ganfeng Lithium. The Mariana Lithium Project has been approved by the Argentina provincial government of Salta for an environmental impact report. Ganfeng officially inaugurated Mariana Lithium’s start of production at a 20,000 tons-per-annum lithium chloride plant on February 12, 2025.

TNR Gold also holds a 0.4% NSR royalty on the Los Azules Copper Project, of which 0.04% of the 0.4% NSR royalty is held on behalf of a shareholder of the Company. The Los Azules Copper Project is being developed by McEwen Inc.

TNR also holds a 7% NPR on the Batidero I and II properties of the Josemaria Project that is being developed by the joint-venture between Lundin Mining and BHP.

TNR provides significant exposure to gold through its 90% holding in the Shotgun Gold porphyry project in Alaska. The project is located in Southwestern Alaska near the Donlin Gold project, which is being developed by Barrick Gold and Novagold Resources. The Company’s strategy with the Shotgun Gold Project is to attract a joint venture partnership with a major gold mining company. The Company is actively introducing the project to interested parties.

On behalf of the Board of Directors,

Kirill Klip
Executive Chairman
www.tnrgoldcorp.com

For further information concerning this news release please contact Kirill Klip +1 604-229-8129

Cautionary Statement Regarding Forward-Looking Information

Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “will”, “could” and other similar words, or statements that certain events or conditions “may” or “could” occur, although not all forward-looking statements contain these identifying words. Specifically, forward-looking statements in this news release include, but are not limited to, statements made in relation to: the terms of the Strategic Investment and the completion of same; the use of proceeds from the Strategic Investment; TNR’s future receipt of cash flows from its royalty holdings and the subsequent contribution of significant value to its shareholders; the possible growth of TNR’s value; the terms of the Ancillary Agreements and the entering into of same; and TNR’s strategy and business objectives. Such forward-looking information is based on a number of assumptions and subject to a variety of risks and uncertainties, including but not limited to those discussed in the sections entitled “Risks” and “Forward-Looking Statements” in the Company’s interim and annual Management’s Discussion and Analysis which are available under the Company’s SEDAR+ profile on www.sedarplus.ca. While management believes that the assumptions made and reflected in this news release are reasonable, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. In particular, there can be no assurance that: TNR will be able to complete the Strategic Acquisition on the terms described in this new release or at all, TNR will enter into one or more strategic transactions, partnership or a spin-out, or be able to complete any further royalty acquisitions or sales of royalty interests, or portions thereof; debt or equity financings will be available to TNR; or that TNR will be able to achieve any of its corporate objectives. TNR relies on the confirmation of its ownership for mining claims from the appropriate government agencies when paying rental payments for such mining claims requested by these agencies. There could be a risk in the future of the changing internal policies of such government agencies or risk related to the third parties, in future, challenging the ownership of such mining claims. Given these uncertainties, readers are cautioned that forward-looking statements included herein are not guarantees of future performance, and such forward-looking statements should not be unduly relied on.

Royalty Giant Altius Takes Strategic Stake in TNR Gold, Sending Shares Surging 30%

2026-04-09T07:49:00.000-07:00

Dear TNR Gold Shareholders,

The market responded positively to the announcement, with TNR Gold shares trading as high as C$0.27 and closing at C$0.26, an increase of approximately 30%. The completion of the Private Placement (“Closing”) is subject to customary conditions precedent, including approval of the TSX Venture Exchange.

The investment provides a clear vote of confidence in our team and strategy, further validating the quality and potential of our royalty portfolio, which is now gaining strong industry recognition.

We look forward to advancing our vision and delivering long-term value for all TNR Gold shareholders.

Thank you for all your congratulations, and I am very pleased to see that sophisticated professional investors are calling our deal with Altius "amazing".

"Yesterday, TNR welcomed Altius Minerals $ALS.TO $ATUSF (Market cap: C$2.9 billion) as a strategic shareholder. The deal was priced under 18 cents and carried no warrants.

A C$2.9 billion company invested in a microcap and demanded no warrants.

TNR got this amazing deal because Altius saw the value of the royalties and wanted a right of first refusal* on two of them instead. After announcing the deal, TNR shares closed at 26 cents Cdn, up 30% on the day." (Kashayap Sriram, April 7, 2026)

* (KK - Actually, it is even better, it's Right of First Offer "ROFO", not the Right of First Refusal "ROFR")

Our fellow shareholders, none of this would have been possible without your unwavering support and trust in our talented Team. On behalf of the entire TNR Gold Team, I extend our deepest gratitude.

My Dreams are beautiful, but money talks; we are in the business of making money.

The TNR Gold Team delivered a 240% increase in share price during 2025. Building on this momentum, the company’s share price has risen an additional 53% year-to-date in 2026 as of April 6, 2026.

Thank you once again for your continued partnership.

Our guiding principle remains unchanged: "Solid values in uncertain times.”

Best and stay safe.

Kirill Klip,

Executive Chairman

TNR Gold Team

We build wealth for our Shareholders.

The Mining Alliance of Trust

There is no investment advice in any of our posts.

Always consult a qualified financial adviser before making any investment decisions.

Do Your Own Research.

(Only publicly available information is used on this Blog and any Kirill Klip and TNR Gold social media feeds)

GEM Royalty TNR Gold Corp.

“TNR Gold Corp is your gateway to the green energy rEVolution and gold stability! We're building a leading green energy metals royalty and gold company, offering a unique entry into the supply chains powering the energy transition. With a 1.5% NSR royalty (of which 0.15% is held on behalf of a shareholder) on the Mariana Lithium Project in Argentina, operated by Ganfeng Lithium, and a 0.4% NSR (of which 0.04% is held on behalf of a shareholder) on the massive Los Azules Copper Project with McEwen Mining—backed by giants like Rio Tinto and Stellantis—we’re positioned for significant cash flows without the capital burden. Add to that our 90% stake in the Shotgun Gold Project in Alaska, near the Donlin Gold deposit, with 705,960 ounces of inferred gold resources, and we’re a diversified powerhouse. TNR delivers exposure to lithium, copper, silver and gold, blending blue-sky discovery with partnerships that drive value—perfect for investors seeking growth and a hedge in today’s economic cycle!”

Kirill Klip, Executive Chairman,

TNR Gold Corp.

“We are building The Green Energy Metals Royalty and Gold Company. Our business model provides the unique entry point into the creation of supply chains for critical materials like energy metals which are powering Tesla Energy rEVolution and Gold industry which is providing the ultimate hedge during this part of the economic cycle. Our shareholders are participating in the building of The Green Energy Metals Royalty and Gold Company. In our portfolio, we have a unique combination of assets providing exposure to different parts of mining cycle: starting with the power of blue sky discovery and including partnerships with industry leaders like McEwen Mining, Ganfeng Lithium and Lundin Mining as operators on the projects that will potentially generate royalty cashflows to contribute significant value for our shareholders.”

Kirill Klip, Executive Chairman,

TNR Gold Corp.

"TNR Gold's 2025 share price surged 240% from CAD 0.05 to 0.17, fueled by insider purchases totalling over 2 million shares and minimal dilution, as detailed in the attached chart showing a bull flag breakout and heavy accumulation signals." (Analysis by Grok)

The TNR Gold Team started this year on a very strong note, after delivering a 240% increase in our Company's share price in 2025. We reached an intraday high of 28 cents on April 7, 2026.

Building The Green Energy Metals Royalty and Gold Company: The TNR Gold Team Continues To Increase Our Stake

Angela Harmantas from Proactive wrote about the new report on TNR Gold from Fundamental Research Corp.:

"TNR Gold is on the cusp of becoming a revenue-generating royalty company, according to a new report from Fundamental Research, with analysts citing rising lithium and copper prices as key drivers for near-term earnings."

"The company, which focuses on royalties from projects operated by other mining firms, has seen its shares surge 240% year-over-year, significantly outperforming the BetaShares mining royalty ETF, up just 17% over the same period.

TNR’s portfolio includes the Shotgun gold project in Alaska, as well as royalties on two advanced South American projects: the Mariana lithium project in Argentina, owned by Ganfeng Lithium (SZSE: 002460), and the Los Azules copper-gold project, controlled by mining veteran Rob McEwen and his institutions." (Angela Harmantas)

"Analysts at Fundamental Research noted that TNR is “awaiting its first royalty payment, expected this quarter, as Ganfeng began production at its Mariana lithium project last year.”

“Receiving this first payment will be a major milestone, marking TNR’s transition into a revenue-generating royalty company,” analysts wrote." (Angela Harmantas)

TNR’s Los Azules copper-gold royalty is also drawing attention. McEwen completed a feasibility study in October 2025, confirming the project’s economic attractiveness, and the project was included in Argentina’s Large Investment Incentive Regime (RIGI), granting tax and export benefits. Copper prices, meanwhile, have risen 34% year-over-year to an all-time high of US$5.82 per pound. (Angela Harmantas)

"TNR “offers exposure to gold, lithium, and copper through projects in Alaska and Argentina, and is on the verge of earning its first royalty revenue,” analysts wrote, adding that “high metal prices, combined with project milestones, position TNR for significant revenue potential.” (Angela Harmantas)

"Elsewhere, at the Shotgun gold project in Alaska, TNR is actively seeking a JV partner to advance the project to a Preliminary Economic Assessment (PEA). Shotgun hosts inferred resources totaling 706 Koz of gold at a grade of 1.1 grams per tonne. Analysts believe the project has expansion potential, with the Shotgun Ridge deposit remaining open along strike and at depth." (Angela Harmantas)

Angela Harmantas: "TNR Gold Nears First Royalty Revenue as Lithium, Copper Markets Surge: Analysts"

Discovery Alert: "Altius Minerals TNR Gold Investment: Mining Royalty Deal"

Building The Green Energy Metals Royalty and Gold Company: TNR Gold Welcomes CAN$4.2 Million Strategic Investment by Altius Minerals

2026-04-07T01:47:00.000-07:00

GEM Royalty TNR Gold Corp.

“TNR Gold Corp is your gateway to the green energy rEVolution and gold stability! We're building a leading green energy metals royalty and gold company, offering a unique entry into the supply chains powering the energy transition. With a 1.5% NSR royalty (of which 0.15% is held on behalf of a shareholder) on the Mariana Lithium Project in Argentina, operated by Ganfeng Lithium, and a 0.4% NSR (of which 0.04% is held on behalf of a shareholder) on the massive Los Azules Copper Project with McEwen Mining—backed by giants like Rio Tinto and Stellantis—we’re positioned for significant cash flows without the capital burden. Add to that our 90% stake in the Shotgun Gold Project in Alaska, near the Donlin Gold deposit, with 705,960 ounces of inferred gold resources, and we’re a diversified powerhouse. TNR delivers exposure to lithium, copper, silver and gold, blending blue-sky discovery with partnerships that drive value—perfect for investors seeking growth and a hedge in today’s economic cycle!”

Kirill Klip, Executive Chairman,

TNR Gold Corp.

TNR Gold:

NEWS RELEASE

TNR Gold Welcomes CAN$4.2 Million Strategic Investment by Altius Minerals

Kirill Klip continued, “Our business model provides a unique entry point into the creation of supply chains for critical materials like energy metals, which are powering the Energy rEVolution, and the gold industry that is providing the ultimate hedge during this part of the economic cycle. Our shareholders are participating in the building of The Green Energy Metals Royalty and Gold Company. In our portfolio, we have a unique combination of assets providing exposure to different parts of the mining cycle, starting with the power of blue-sky discovery, and including partnerships with industry leaders like McEwen Inc., Ganfeng Lithium, Lundin Mining and BHP as operators on the projects that could potentially generate royalty cashflows to contribute value for our shareholders. My holding of 27,263,000 common shares in TNR Gold serves as further evidence of my deep personal commitment to the Company and strong confidence in our experienced team and its strategic development plan. We look forward to working with Altius to maximize value for all our shareholders.”

a right of first offer agreement, pursuant to which TNR will grant to Altius Royalty Corporation, a wholly-owned subsidiary of Altius, a right of first offer on the sale of TNR’s 1.35% NSR royalty on the Mariana Lithium Project in Argentina and TNR’s 0.36% NSR royalty on the Los Azules Copper Project in Argentina (the “ROFO Agreement”); and
a voting agreement, pursuant to which (i) TNR will grant to Altius Resources the right to participate in future private placements and certain other issuances of securities by TNR, such that Altius Resources may maintain its pro rata ownership of TNR following Closing, and (ii) Altius Resources will agree to vote its TNR Shares in favour of any directors nominated by TNR’s management and other matters that are unanimously recommended by TNR’s board of directors, for a period of five years from Closing (together with the ROFO Agreement, the “Ancillary Agreements”).

If entered into, the Ancillary Agreements will terminate automatically upon Altius Resources ceasing to own at least 6% of TNR’s issued and outstanding shares on a non-diluted basis.

ABOUT ALTIUS MINERALS CORPORATION

ABOUT TNR GOLD Corp.

TNR Gold Corp. is working to become the green energy metals royalty and gold company.

TNR also holds a 7% NPR on the Batidero I and II properties of the Josemaria Project that is being developed by the joint-venture between Lundin Mining and BHP.

On behalf of the Board of Directors,

Kirill Klip
Executive Chairman
www.tnrgoldcorp.com

For further information concerning this news release please contact Kirill Klip +1 604-229-8129

Cautionary Statement Regarding Forward-Looking Information

Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “will”, “could” and other similar words, or statements that certain events or conditions “may” or “could” occur, although not all forward-looking statements contain these identifying words. Specifically, forward-looking statements in this news release include, but are not limited to, statements made in relation to: the terms of the Strategic Investment and the completion of same; the use of proceeds from the Strategic Investment; TNR’s future receipt of cash flows from its royalty holdings and the subsequent contribution of significant value to its shareholders; the possible growth of TNR’s value; the terms of the Ancillary Agreements and the entering into of same; and TNR’s strategy and business objectives. Such forward-looking information is based on a number of assumptions and subject to a variety of risks and uncertainties, including but not limited to those discussed in the sections entitled “Risks” and “Forward-Looking Statements” in the Company’s interim and annual Management’s Discussion and Analysis which are available under the Company’s SEDAR+ profile on www.sedarplus.ca. While management believes that the assumptions made and reflected in this news release are reasonable, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. In particular, there can be no assurance that: TNR will be able to complete the Strategic Acquisition on the terms described in this new release or at all, TNR will enter into one or more strategic transactions, partnership or a spin-out, or be able to complete any further royalty acquisitions or sales of royalty interests, or portions thereof; debt or equity financings will be available to TNR; or that TNR will be able to achieve any of its corporate objectives. TNR relies on the confirmation of its ownership for mining claims from the appropriate government agencies when paying rental payments for such mining claims requested by these agencies. There could be a risk in the future of the changing internal policies of such government agencies or risk related to the third parties, in future, challenging the ownership of such mining claims. Given these uncertainties, readers are cautioned that forward-looking statements included herein are not guarantees of future performance, and such forward-looking statements should not be unduly relied on.

Building The Green Energy Metals Royalty and Gold Company: Canadian Investment Regulatory Organization Trading Halt - TNR Gold Corp., Pending News

2026-04-03T02:30:00.000-07:00

Canadian Investment Regulatory Organization Trading Halt - TNR Canada NewsWire VANCOUVER, BC, April 2, 2026 /CNW/ - The following issues have been halted by CIRO Company: TNR Gold Corp. TSX-Venture Symbol: TNR All Issues: Yes Reason: Pending News Halt Time (ET): 3:39 PM

Canadian Investment Regulatory Organization:

"A trading halt is a temporary pause in trading to allow the market to properly absorb the information. It is based on the principle that all investors should have the same timely access to important company information."

Building The Green Energy Metals Royalty and Gold Company: The Future Is Already Here, Not Everybody Can See It Yet, But Megatrends Are Manifesting Themselves

GEM Royalty TNR Gold Corp.

“TNR Gold Corp is your gateway to the green energy rEVolution and gold stability! We're building a leading green energy metals royalty and gold company, offering a unique entry into the supply chains powering the energy transition. With a 1.5% NSR royalty (of which 0.15% is held on behalf of a shareholder) on the Mariana Lithium Project in Argentina, operated by Ganfeng Lithium, and a 0.4% NSR (of which 0.04% is held on behalf of a shareholder) on the massive Los Azules Copper Project with McEwen Mining—backed by giants like Rio Tinto and Stellantis—we’re positioned for significant cash flows without the capital burden. Add to that our 90% stake in the Shotgun Gold Project in Alaska, near the Donlin Gold deposit, with 705,960 ounces of inferred gold resources, and we’re a diversified powerhouse. TNR delivers exposure to lithium, copper, silver and gold, blending blue-sky discovery with partnerships that drive value—perfect for investors seeking growth and a hedge in today’s economic cycle!”

Kirill Klip, Executive Chairman,

TNR Gold Corp.

“We are building The Green Energy Metals Royalty and Gold Company. Our business model provides the unique entry point into the creation of supply chains for critical materials like energy metals which are powering Tesla Energy rEVolution and Gold industry which is providing the ultimate hedge during this part of the economic cycle. Our shareholders are participating in the building of The Green Energy Metals Royalty and Gold Company. In our portfolio, we have a unique combination of assets providing exposure to different parts of mining cycle: starting with the power of blue sky discovery and including partnerships with industry leaders like McEwen Mining, Ganfeng Lithium and Lundin Mining as operators on the projects that will potentially generate royalty cashflows to contribute significant value for our shareholders.”

Kirill Klip, Executive Chairman,

TNR Gold Corp.

Update April 6, 2026

Building The Green Energy Metals Royalty and Gold Company: We Love It Real, Clean and Electric

Building The Green Energy Metals Royalty and Gold Company: AC/DC Power & Bottled Energy

TNR Gold NSR Royalty Holding - Rob McEwen: “At Los Azules, We Hope to Begin Construction in 2027 and Reach Production by 2030”

2026-03-15T03:38:00.000-07:00

GEM Royalty TNR Gold Corp.

“TNR Gold Corp is your gateway to the green energy rEVolution and gold stability! We're building a leading green energy metals royalty and gold company, offering a unique entry into the supply chains powering the energy transition. With a 1.5% NSR royalty (of which 0.15% is held on behalf of a shareholder) on the Mariana Lithium Project in Argentina, operated by Ganfeng Lithium, and a 0.4% NSR (of which 0.04% is held on behalf of a shareholder) on the massive Los Azules Copper Project with McEwen Mining—backed by giants like Rio Tinto and Stellantis—we’re positioned for significant cash flows without the capital burden. Add to that our 90% stake in the Shotgun Gold Project in Alaska, near the Donlin Gold deposit, with 705,960 ounces of inferred gold resources, and we’re a diversified powerhouse. TNR delivers exposure to lithium, copper, silver and gold, blending blue-sky discovery with partnerships that drive value—perfect for investors seeking growth and a hedge in today’s economic cycle!”

Kirill Klip, Executive Chairman,

TNR Gold Corp.

“We are building The Green Energy Metals Royalty and Gold Company. Our business model provides the unique entry point into the creation of supply chains for critical materials like energy metals which are powering Tesla Energy rEVolution and Gold industry which is providing the ultimate hedge during this part of the economic cycle. Our shareholders are participating in the building of The Green Energy Metals Royalty and Gold Company. In our portfolio, we have a unique combination of assets providing exposure to different parts of mining cycle: starting with the power of blue sky discovery and including partnerships with industry leaders like McEwen Mining, Ganfeng Lithium and Lundin Mining as operators on the projects that will potentially generate royalty cashflows to contribute significant value for our shareholders.”

Kirill Klip, Executive Chairman,

TNR Gold Corp.

Copper is hitting one all-time high after another over the last few months, and Rob McEwen is talking about developing the giant Los Azules Copper, Gold and Silver Project in Argentina into the world's first "regenerative mine" producing low-carbon "Green Copper". Rob confirmed to Panorama Minero at PDAC 2026: "At Los Azules, we hope to begin construction in 2027 and reach production by 2030."

“We are very pleased that Ganfeng completed the first export of lithium chloride produced from Mariana Lithium in Argentina,” stated TNR Gold’s Executive Chairman Kirill Klip. “We are looking forward to our first NSR royalty cash flow payments from the Mariana Lithium Project.”

Today, you can learn more about this "Copper Unicorn", as Rob calls it, the TNR Gold NSR royalty holding and our potential valuations.

The Green critical metal for the Energy rEVolution becomes red hot. Copper hit a record at $14,125 a ton on LME on January 30, 2026.

"TNR Gold's 2025 share price surged 240% from CAD 0.05 to 0.17, fueled by insider purchases totalling over 2 million shares and minimal dilution, as detailed in the attached chart showing a bull flag breakout and heavy accumulation signals." (Analysis by Grok)

The TNR Gold Team started this year on a very strong note, after delivering a 240% increase in our Company's share price in 2025. We reached an intraday high of 19 cents on January 26, 2026.

Building The Green Energy Metals Royalty and Gold Company: The TNR Gold Team Continues To Increase Our Stake

None of this would have been possible without your unwavering support and trust in our talented Team. On behalf of the entire TNR Gold Team, I extend our deepest gratitude.

“I would like to thank all our shareholders for your overwhelming support, and the vote of confidence in the TNR Gold Team and our strategy for maximizing shareholders value,” stated Kirill Klip, Executive Chairman of TNR Gold. “Our Company has repaid our investment loan in full, and we do not have any debt. We believe that the recent market prices of our shares do not fully reflect the underlying value of TNR’s assets. Our transformation from a project-generator junior mining company into a cashflow-generating royalty company may bring the necessary catalyst for improved market valuation of our assets.”

Angela Harmantas from Proactive wrote about the new report on TNR Gold from Fundamental Research Corp.:

"TNR Gold is on the cusp of becoming a revenue-generating royalty company, according to a new report from Fundamental Research, with analysts citing rising lithium and copper prices as key drivers for near-term earnings."

"The company, which focuses on royalties from projects operated by other mining firms, has seen its shares surge 240% year-over-year, significantly outperforming the BetaShares mining royalty ETF, up just 17% over the same period.

TNR’s portfolio includes the Shotgun gold project in Alaska, as well as royalties on two advanced South American projects: the Mariana lithium project in Argentina, owned by Ganfeng Lithium (SZSE: 002460), and the Los Azules copper-gold project, controlled by mining veteran Rob McEwen and his institutions." (Angela Harmantas)

"Analysts at Fundamental Research noted that TNR is “awaiting its first royalty payment, expected this quarter, as Ganfeng began production at its Mariana lithium project last year.”

“Receiving this first payment will be a major milestone, marking TNR’s transition into a revenue-generating royalty company,” analysts wrote." (Angela Harmantas)

TNR’s Los Azules copper-gold royalty is also drawing attention. McEwen completed a feasibility study in October 2025, confirming the project’s economic attractiveness, and the project was included in Argentina’s Large Investment Incentive Regime (RIGI), granting tax and export benefits. Copper prices, meanwhile, have risen 34% year-over-year to an all-time high of US$5.82 per pound. Fundamental Research estimates. (Angela Harmantas)

"TNR “offers exposure to gold, lithium, and copper through projects in Alaska and Argentina, and is on the verge of earning its first royalty revenue,” analysts wrote, adding that “high metal prices, combined with project milestones, position TNR for significant revenue potential.” (Angela Harmantas)

"Elsewhere, at the Shotgun gold project in Alaska, TNR is actively seeking a JV partner to advance the project to a Preliminary Economic Assessment (PEA). Shotgun hosts inferred resources totaling 706 Koz of gold at a grade of 1.1 grams per tonne. Analysts believe the project has expansion potential, with the Shotgun Ridge deposit remaining open along strike and at depth." (Angela Harmantas)

Angela Harmantas: "TNR Gold Nears First Royalty Revenue as Lithium, Copper Markets Surge: Analysts"

Panorama Minero:

“At Los Azules, We Hope to Begin Construction in 2027 and Reach Production by 2030”

"Rob McEwen, President and CEO of McEwen Mining, analyses the global macroeconomy and the price of gold. A strong believer in precious metals, he highlights Los Azules as his major bet on copper.

By Panorama Minero

You’ve been in the mining industry for many years and have consistently been bullish on precious metals. Why?

Governments around the world are irresponsible when it comes to fiscal policy. They go out, print large amounts of money, and take on massive debt.

When they do that, they weaken the value of their currencies — and that has been happening for thousands of years. They simply can’t stop saying, “Well, I’m going to give you some money.”

But they don’t have the revenue to support it, so they borrow. And they print more and more money. Back in 2011, I said that gold was going to reach $5,000 and silver $200.

And money is just paper…

That’s right. I’m a big believer in gold because it’s different from real estate. You can hold some gold and sell it quickly, getting your money right away. With real estate, it’s much harder to sell quickly.

Gold also doesn’t decay, and it’s accepted all over the world. And right now, we’re seeing central banks buying more gold than they have in the last 20 years. So that trend is building.

And even in crypto, like stable coins — there’s a company called Tether that used to hold U.S. Treasury notes. They approached us about buying an interest in a mine we owned so they could have hard assets.

It really surprised me: they were buying two tons of gold a month. And this is a cryptocurrency company. So they’re recognizing that the world is now moving away from growth and toward hard assets. And precious metals are hard assets.

With gold trading above $5,000 per ounce, what can we expect in the medium term?

Well, I think everyone has to understand that nothing goes in a straight line forever. Gold has gone up, and now it’s on a plateau.

We reached about $5,400 an ounce, and now it’s back down to around $5,000 — even after the U.S. moved against Iran.

I can see it going beyond $7,500, but probably not before the end of the year. Some of my friends are talking about $10,000. I know someone else who’s saying $20,000.

If people suddenly start thinking, “I don’t trust the paper currency in my wallet. I need to buy something that holds value,” then gold could move much higher.

And in Argentina, for example, the price of gold has risen quite a bit in peso terms because the currency has been weakening.

McEwen Mining is primarily focused on gold and silver, but you also have the Los Azules project. Why copper, and why Argentina?

Well, my exposure to Argentina goes back about 20 years. I invested in a company called Minera Andes, and after a while I owned about 25–26% of it.

That was when President Menem had opened the country to mining, and Minera Andes’ geologists identified Los Azules as a property of interest. The more I got to know it, the more I thought it could be a copper unicorn.

It had the potential to become a very large project, so I kept watching. I also watched the different governments go through various changes.

I just believed in the property. And when I look at projects that aren’t gold, I convert them into a gold equivalent.

So I take the gold price and divide it by the copper price to come up with a ratio — the number of pounds of copper that equal the value of one ounce of gold.

Then I divide that into the amount of resources we have. As of last week (*), we had 35.7 billion pounds of copper at Los Azules. And if I divide that by the ratio from last week — although it may have changed today — but it represented a gold-equivalent resource of about 41 million ounces. And to me, that’s a very large gold deposit. So I said, let’s keep pushing this.

My spirits lifted when President Milei was elected. He came in and said, “Look, we need to attract more foreign investment into the country because that will create a larger employment base. It will bring more money into the economy and help bring down inflation.”

And all of that is good for Argentina.

What are the next steps for Los Azules in 2026?

We completed the feasibility study, and it was released in October.

That study basically looked at the project’s economics and what needs to be done. Now we have to complete the detailed engineering before starting construction. We hope to begin construction in 2027 and reach production by 2030.

We’re looking at a project where the first phase would last about 20 years, followed by a second phase of another 33 years — so roughly 53 years in total. We also have a large exploration property that we plan to continue exploring, and we believe the mine life could extend even further.

You have Rio Tinto as a strategic partner. Is there room for Rio Tinto to increase its stake in the project? And what would that depend on?

Rio Tinto currently owns 17% of Los Azules and Stellantis owns 18%. Rio also has a number of projects around the world.

We’re using their technology, called Nuton, to increase copper recoveries without needing a mill or producing tailings. They’ve said they like the property. They haven’t said yet that they’re going to write a check and help us develop it, but they do like it — so time will tell.

(*) This interview took place in Toronto on March 3, within the framework of the PDAC Annual Convention."