Additionally, the Company is pleased to announce that over CA$45.9 million has been received through the exercise of outstanding warrants.

“Cambria continues to advance operational permitting, infill drilling, engineering and construction activities at PGP and Red Mountain, de-risking critical components to facilitate mining and processing in late 2027. Sufficient mineralization is accessible at PGP to commence mining, which would be subsequently augmented by Red Mountain once construction is complete,” said Robert McLeod, President and CEO of Cambria Gold Mines. “The Red Mountain Access Road construction is advancing very well and we are pushing to achieve access to Bromley Humps by the end of 2026.”

“As we complete additional development and prepare for operation readiness, our ability to attract exceptional engineers, such as: Ali Farah, Carla Romero, Brandon Chambers and Dinesh Devathasan, is driven by the quality of our gold projects and by our positive, supportive and determined team,” said Gord Doerksen, VP Projects of Cambria Gold Mines. “Our construction team has made strong headway in all facets, and our new engineering strength will set us up well for continued project development in 2027, with particular emphasis on planning and engineering, as well as water management and treatment and PGP.”

Red Mountain Access Road

The final Permit for the Red Mountain access road, a Fisheries Act Authorization (FAA), was received on September 21, 2026, allowing for in-stream construction work to be performed in Bitter Creek, rebuilding sections of a previous road that was washed away during a storm event in 2013. With the FFA in hand, Cambria’s construction team and road building contractor are advancing the road expeditiously and safely toward our goal of reaching the Bromley Humps area near the base of Red Mountain, roughly 12 km from Highway 37A.

The alpine portion of the road to access the Red Mountain deposit is anticipated to be built during the 2027 construction season. The Company’s objective is to truck mill feed material to the mill at PGP, a distance of approximately 50 km, through the communities of Stewart and Hyder.

Additionally, the Company is studying bulk material transport options: an aerial tramline or rope conveyor from the Red Mountain Deposit to the Bitter Creek valley, which would be installed after the road is completed, likely following the first year of operations. These aerial conveyance systems have historically been used extensively in the region and modern systems have proven very successful globally.

Figure 1. Red Mountain Access Road and Armouring adjacent to Bitter Creek

Red Mountain Access Road and Armouring adjacent to Bitter Creek

Resource Modelling and Infill Drilling

To inform the updated Feasibility Study, the Company has built a comprehensive geological and assay database, remodelling the geology and mineralized zones of the PGP deposits with the purpose of informing an updated Mineral Resource and Reserve Estimate. The current Resource and Reserve Estimate, last updated in 2021, was modelled using grade shells rather than following geological units. Starting from first principles, Cambria’s geological team has been remodelling the major and peripheral deposits at PGP, integrating both new and historical data from over 100 years of mining history from multiple epithermal deposits.

Both the Big Missouri and Silver Coin Deposits, previously mined by Cominco and Westmin/Tenajon Resources were wide breccia and vein stockwork structures mined using longhole underground techniques. Cambria has modelled these structures as well as post mineral faults and dykes with the objective of outlining bulk mineable areas; infill drilling has been ongoing at both areas to increase confidence in grade and structure. Emphasis has been on the Silver Coin deposit, which has higher grades than Big Missouri, can be mined using productive longhole mining methods, and will be the primary focus for the restart along with the high-grade Premier deposit.

At the Premier Deposit, extensive infill drilling work on 12.5 metre spacing targeting high-grades within the Prew and 602 Zones has been prioritized. Once underground development has recommenced in Q4 2026, additional underground drilling will be completed to continue defining Measured Resources that could potentially convert to Proven Reserves and be accessed in the early years of the operation. This material would be blended with wide and continuous mineralization from Silver Coin and Big Missouri while the Red Mountain Deposit is developed.

Feasibility Study Update

Cambria continues to advance an updated Red Mountain-PGP Feasibility Study to capture the value of the combined project, with targeted completion in H1 2027. SLR Advisors, a global mining consultancy, has been engaged to be the primary author with support from QPs from other specialists in their respective fields.

As discussed in recent releases, the Feasibility Study work is informed by an extensive infill drilling program at PGP to provide robust resource confidence, as well as new metallurgical testing, mine plan optimization, and processing plant modifications to treat mineralized material from both projects. No additional infill drilling has been required at the Red Mountain Deposit.

Water Treatment Plant

At PGP, the priority work on the site has been water management and the water treatment plant. Since construction in 2024, the Water Treatment Plant (“WTP“) continually struggled with discharge compliance for zinc. Through a series of focused initiatives, expedited with urgency, the Company is advancing closer to compliance with results improving in the past two months. Extensive efforts have fixed many of the WTP’s operational problems, including taking over control of plant operations with in-house personnel (previously managed and operated by a contractor), engaging specialized water treatment consultants for guidance and activating better process controls. Cambria’s team completed extensive upgrades and additions to pumps, valves, pipes and various equipment that were in various stages of neglect. The Company also updated a water balance to better understand the entire water system and how best to manage and treat contact water.

Figure 2. New Upper Sediment Pond Liner at PGP Water Treatment Plant

New Upper Sediment Pond Liner at PGP Water Treatment Plant

Mining

Cambria is currently upgrading underground infrastructure at Premier-Northern Lights with brow support, power upgrades, a ventilation bulkhead, water management sumps and secondary egress. These improvements will be complete by the end of 2026 and will allow us to begin additional development for stope access for mining and additional platforms for further infill drilling. Underground work will be completed using Cambria’s newly purchased and commissioned fleet of mining equipment including LHDs, a twin-boom face jumbo, scissor deck and service vehicles. Additionally, underground development at the Silver Coin deposit will take place in the spring of 2027 to create development for operations. Accessing Silver Coin will be from the recently constructed underground workings at the Big Missouri deposit, 700 metres north of Silver Coin or from a new portal location closer to the mineralized zones, based on permitting considerations. Cambria’s remodelling of the Big Missouri Deposit has also identified the potential for several small open pit, that will be further evaluated as part of the Feasibility Study.

2026 geotechnical drilling at new Silver Coin and Red Mountain portal locations will assist in detailed portal design. All deposits benefit from previous underground development accelerating our development plan and reducing anticipated restart capital costs.

Premier Mill Upgrades

Detailed planning and budgeting of the Premier processing plant upgrades are underway with engineering, procurement and installation work. The mill operated as recently as 2025 and is in excellent condition. Based on past operating knowledge, the program includes some additional optimizations. These critical improvements include the installations of a new primary jaw crusher and feeder. The crusher building, covered crushed material stockpile and conveyor system, dating to the 1990’s operations are in excellent condition, with just the mechanical and electrical components required. Additional immediate upgrades will include converting an unused clarifier to a pre-leach thickener. Prior to introduction of material from Red Mountain, a fine grinding mill and second detox tank will be added. All required mill upgrades for restarting with Premier material will be completed in 2027.

Additions to Cambria’s Operating Team

To plan and execute on the Company’s re-start preparations, Cambria is pleased to announce the expansion of our project team with the addition of four exceptional people to the engineering team.

Ali Farah, P.Eng., a highly experienced Mechanical Engineer and Manager with over 35 years of experience, has joined Cambria as Director of Engineering responsible for all engineering activities for the Project. Ali will oversee all technical work done by consultants and in-house personnel to maintain high engineering standards, align all engineering work and ensure the greatest efficiency of design and execution. He will be a key piece of our strategic and tactical planning. Ali has a decade of experience in northwest BC mining in addition to +20-years of various technical and management roles in mining and other industries.

Carla Romero Robiero, P.Eng. joined as Cambria’s Environmental Manager, with a primary focus on water system compliance, monitoring and reporting. Carla has 20 years of experience and was most recently the Senior Lead, Water Integrated Planning with a major mining company. She integrates water balance, water quality, treatment, mine planning, and financial analysis to guide assets toward resilient, low-risk outcomes.

Brandon Chambers, P.Eng. recently joined as our new Manager of Engineering. Brandon is a Mining Engineer with a broad range of operational, planning and construction experience. Brandon is an accomplished problem solver, planner and leader and will be extremely valuable providing guidance and knowledge to the wide range of initiatives Cambria is pursuing as well as providing engineering controls for our improvement plans.

Dinesh Devathasan, P.Eng. recently joined as our Underground Manager, who will lead Cambria’s team as underground development is advanced that takes the Company to production. Dinesh has proven, relevant experience in taking underground mining projects into successful, producing mines. Dinesh’s experience spans technical and management roles giving him the holistic knowledge needed to ensure a successful restart of Cambria’s mining assets. Dinesh has many years of Golden Triangle operating experience including at the Brucejack Mine.

Permitting

The Company achieved a significant permitting milestone in 2026 with the receipt of all permits required for construction of the Red Mountain access road. In parallel, Cambria is advancing engineering and environmental programs to support submission of the proposed haul road permit application. Baseline environmental studies were also conducted throughout 2026 at both the Premier and Red Mountain projects to validate and supplement existing environmental baseline information, while supporting ongoing project planning and future permitting requirements.

Looking ahead, the Company’s permitting efforts will focus on advancing the major mine authorizations required for the construction and operation of both the Premier and Red Mountain projects. At Red Mountain, ongoing engineering, environmental, and technical studies are also supporting an amendment to the existing Environmental Assessment Certificate to reflect the current project design and development plan. The Company continues to work collaboratively with regulatory agencies, Indigenous interests, and local stakeholders to advance these permitting processes.

Issuance of Interest Shares to Nebari

Further to the Company’s December 30, 2025 press release, and in connection with the second amended and restated facility agreement with Nebari Natural Resources Credit Fund II, LP and Nebari Gold Fund 1 LP, as lenders (the “Lenders“), and Nebari Collateral Agent LLC, as collateral agent (the “Collateral Agent“, and, together with the Lenders, “Nebari“) dated December 30, 2025 (the “Convertible Facilities“) and the third amended and restated cost overrun agreement entered into with Nebari dated December 30, 2025 (the “COF“), the Company intends to settle quarterly interest for the period beginning July 1, 2026 and ending September 30, 2026 of $1,800,253.06 payable to Nebari through the issuance of an aggregate of 2,017,318 common shares at a deemed price rounded to $0.892 per share, subject to approval of the TSX Venture Exchange. The interest has been calculated in accordance with the rates specified in the COF and Convertible Facilities.

All amounts are shown in Canadian dollars and Nebari is an arm’s length creditor to the Company.

Qualified Person and Technical Information:

The scientific and technical information within this news release was reviewed and approved by Gord Doerksen, P.Eng., Vice President of Projects for Cambria Gold Mines Inc. Mr. Doerksen is a non-independent “Qualified Person” as defined under National Instrument 43-101.

About Cambria Gold Mines

Cambria Gold Mines is a Canadian mining company headquartered in Vancouver, British Columbia, and its shares trade on the TSX-V under the ticker CAMB and on the OTCQX Market with the ticker CAMVF. Cambria is the 100% owner of the Premier Project and Red Mountain Gold Project that are located on Nisga’a Nation Treaty Lands, in the prolific Golden Triangle of northwestern British Columbia, as well as the large Mt. Margaret copper-gold porphyry deposit located in Washington State. For more information about the Company, please refer to the Company’s profile on SEDAR+ at www.sedarplus.ca or visit the Company’s web site at www.cambriagold.com.

Cambria Gold Mines is a market awareness client of Capital 10X. For more information, including potential conflicts of interest please see our Content Disclaimer.

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Highlights

• Kinross has commenced drilling on September 23, 2026, at West Point Gold’s Jefferson Canyon, located approximately 7 kilometres from its Round Mountain operations.
• Partner-funded exploration allows West Point Gold to retain exposure to Jefferson Canyon while allowing the Company to remain focused on its flagship Gold Chain Project.
• Permits were received August 19, 2026, starting the four-year option period laid out in the 2022 Exploration and Option Agreement (the “Agreement”).
• The Agreement provides for the potential of up to US$10 million in future option payments.
• West Point Gold retains meaningful long-term exposure to Jefferson Canyon, including a 20% project interest if both Kinross options are exercised and royalty protection should its interest subsequently be diluted below 10%.

“We are excited that drilling has begun at West Point Gold’s Jefferson Canyon project. The historical drilling and work we previously completed suggest this project has the potential to deliver a significant deposit. Given the project’s proximity to Kinross’s Round Mountain mine and our partnership on the Jefferson Canyon project with Kinross, we believe the hurdle rate to define a mineable deposit is relatively low”, stated Derek Macpherson, President & CEO.

Jefferson Canyon Project, Nevada

The Jefferson Canyon project in Nye County, Nevada is located 7 kilometres from Kinross’s Round Mountain operations (Figure 1). The project has 145 historical drill holes, including 41.2m at 6.4 g/t gold and 402 g/t silver (GJ-81). In 2022, West Point Gold entered into an Exploration and Option Agreement with Kinross (the “Agreement”). Kinross has made all the required payments associated with the agreement to date.

Figure 1: Jefferson Canyon Project Relative to Round Mountain

The Jefferson Canyon project contains a large volcanic-hosted epithermal Au-Ag system that is essentially the same age as the nearby Round Mountain deposit, a world-class low-sulfidation (LS) epithermal deposit. Both are hosted in felsic ash-flow tuffs along the margins of calderas and both contain a strong northwest-trending and north-south structural control to veins. Both areas contain low-grade disseminated and high-grade vein or replacement-type mineralization.

Historical drilling has defined multiple zones of mineralization (Figure 2) and has been highlighted by multiple significant drill intercepts, including 41.2m of 6.4 g/t Au and 402 g/t Ag (GJ-81).

Figure 2: Historical Drill Holes and Mineralized Envelope along the Jefferson Canyon (“JF”) Fault

Soil sampling in 2021 revealed a four-square-kilometre circular gold-in-soil anomaly (Figure 3). The highest Au-in-soil value was 4,470 parts per billion Au and anomalous values were distributed as follows: 29 samples contained greater than 500 parts per billion Au; 99 samples were greater than 200 ppb Au; 234 samples were greater than 100 ppb Au; and, 631 samples were greater than 20 ppb Au.  The five rock samples collected were anomalous, with values of up to 15.2 g/t gold and 421 g/t silver.

Figure 3: Gold-in-Soil and Silver-in-Soil Anomalies at Jefferson Canyon with historical drill collars

The CSMAT resistivity data suggests that the Jefferson Canyon fault is a deep structure which likely controls mineralization. This spatial relationship to the gold-silver mineralization supports the potential to expand the mineralized footprint both along strike and depth. A large conductor is evident down plunge along the northeast-dipping Jefferson Canyon fault.

Figure 4: CSAMT /Resistivity Model Showing the Projection of the Jefferson Canyon Fault at Depth

Link to Updated Jefferson Canyon Video

Key Remaining Terms of the Agreement:

• Kinross will continue making ongoing lease payments of US$75,000 per year for the term of the agreement.
• Kinross is required to spend US$600,000 on exploration work and will be responsible for making the payments to keep the unpatented claims in good standing.
• During the term of the agreement, Kinross has the option to acquire 70% of the project for a cash payment of US$5,000,000 to West Point Gold and form a joint venture LLC, and a second option to acquire an additional 10% of the project for a further payment of US$5,000,000 to the Company.
• The term of the Agreement is four years commencing from receipt of drill permits, with a potential extension of up to two years, subject to certain conditions. Drill permits were received on August 19, 2026.
• If an LLC is formed, and either party is diluted below 10%, its interest converts to a 1% net smelter returns (NSR) royalty.

Marketing Engagements

The Company has engaged New Era Publishing Inc. (“New Era”), also doing business as Katusa Research, an arm’s-length service provider, to provide the Company certain investor relations and marketing services, in accordance with the policies of the TSX Venture Exchange and applicable securities laws. Based in Vancouver, B.C., New Era specializes in media and investor relations services within the natural resource sector. Under a consulting agreement dated September 8, 2026, New Era will provide media relations, investor communication and market awareness services to the Company for a two-month term for a one-time fee of US$150,000, payable at the commencement of services. The Company will not issue any securities to New Era as compensation for its services. As of the date hereof, to the Company’s knowledge, New Era (including its directors and officers) does not own any securities of the Company. The marketing agreement with New Era is subject to TSX Venture Exchange approval.

Additionally, the Company has engaged Freedom Financial Research, LLC (“Freedom Financial”), an arm’s-length service provider, to provide the Company certain investor relations and marketing services, in accordance with the policies of the TSX Venture Exchange and applicable securities laws. Based in Charlottesville, Virginia, Freedom Financial specializes in media and investor relations services. Under a consulting agreement dated September 11, 2026, Freedom Financial will provide media relations, investor communication and market awareness services to the Company for a 90-day term for a one-time fee of US$150,000, payable at the commencement of services. The Company will not issue any securities to Freedom Financial as compensation for its services. As of the date hereof, to the Company’s knowledge, Freedom Financial (including its directors and officers) does not own any securities of the Company. The marketing agreement with Freedom Financial is subject to TSX Venture Exchange approval.

Qualified Person

Robert Johansing, M.Sc. Econ. Geol., P. Geo., the Company’s Vice President, Exploration, is a qualified person (“QP”) as defined by NI 43-101 and has reviewed and approved the technical content of this press release. The QP has not completed sufficient work to verify the historical information on the properties, particularly regarding historical drill results. However, the QP believes prior drilling and analytical results were completed in accordance with industry-standard practices.

About West Point Gold Corp.

West Point Gold is an exploration and development company focused on unlocking value across four strategically located projects along the prolific Walker Lane Trend in Nevada and Arizona, USA, providing shareholders with exposure to multiple discovery opportunities across one of North America’s most productive gold regions. The Company’s near-term priority is advancing its flagship Gold Chain Project in Arizona.

West Point Gold is a research client of Capital 10X. For more information, including potential conflicts of interest please see our Content Disclaimer.

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By decision letter dated September 29, 2026, the Division approved a permit area and affected area of 28.30 acres and set the required financial warranty (reclamation surety) at US$620,000. The reclamation permit will be issued once the Division receives and verifies Highbury’s financial and performance warranty.

With the Division’s review complete, the focus turns to Federal review under the U.S. Department of Energy (“DOE”) Uranium Leasing Program, which is currently advancing. On September 29, 2026, DOE notified the Company that it had reviewed Highbury’s draft Environmental Assessment (“EA”) template for the JD-8 Mine Plan and found it acceptable, allowing the National Environmental Policy Act (“NEPA”) review of the JD-8 Mine Plan to proceed. Subject to permit issuance, DOE Mine Plan approval and remaining operational readiness work, Anfield continues to target a restart of uranium and vanadium production at JD-8 by the end of the second quarter of 2027.

Separately, Anfield has responded to the U.S. National Nuclear Security Administration (“NNSA”) request for information regarding the potential acquisition of approximately 4 million pounds of unobligated domestic uranium per annum to support national-security fuel-cycle requirements.

Ken Mushinski, Anfield Chairman commented: “This is a major step toward restarting Anfield’s production in 2027, and it is especially meaningful for me personally, as a former President of Cotter Corporation, the previous owner of this significant resource. Given my first-hand knowledge of and experience with the JD-8 resource, legacy mining and permitting preservation, I have genuine confidence in the current permitting and restart work being accomplished by Anfield today. We look forward to becoming a major contributor to U.S. uranium and vanadium production, and this decision is another significant step toward that goal.”

Corey Dias, Anfield CEO, stated, “The completion of the Division’s review is a defining milestone for JD-8 and for our Colorado strategy. We now have a clear, defined path to permit issuance, and DOE’s acceptance of our Environmental Assessment template shows the federal process is also poised for progress. JD-8 is a past-producing mine with existing underground workings and is intended to be another spoke feeding Shootaring, similar to Velvet-Wood. With term uranium prices at nominal record levels, we believe that advancing a permitted, U.S. conventional mine toward production will allow Anfield to take full advantage of current market conditions.”

Once the DRMS permit is issued and DOE approval is received, the Company expects to proceed with mobilization, underground rehabilitation and restart activities. The existing JD-7 mine infrastructure will be used as the operations base for the Monogram Mesa Mine Complex, which includes the JD-8 mine.

Because the application is no longer contested, the Division proceeded to its decision, and the JD-8 application will not be on the agenda for the Colorado Mined Land Reclamation Board’s regular October 14–15, 2026 meeting.

JD-8 in Anfield’s Hub-and-Spoke Strategy

JD-8 is located approximately 11 miles west of Naturita, Colorado, on approximately 28.3 acres within DOE Uranium Leasing Program lease tracts. It is a past-producing conventional underground uranium and vanadium mine and a key asset within Anfield’s Monogram Mesa Mine Complex. JD-8 was the last of the historic Cotter Corporation mines to suspend operations, in 2006, due to market conditions. The restart plan uses conventional underground mining methods and leverages the existing underground workings.

Anfield’s PEA contemplates the Shootaring Canyon Mill as a central processing hub with a target capacity of 1,000 tons per day, fed by Velvet-Wood (Utah), Slick Rock (Colorado) and six West Slope mines, including JD-8. The PEA estimates average annual production of approximately 1.3 million pounds of U₃O₈ and 6.4 million pounds of V₂O₅ over a 15-year mine life, with a pre-tax net present value (8% discount) of US$606 million and pre-tax internal rate of return of 106% (post-tax NPV of US$533 million and IRR of 97%), based on US$100 per pound uranium and US$9 per pound vanadium.¹ Velvet-Wood remains the Company’s first mine advancing toward production; JD-8 and Slick Rock are intended to be the next mines in the hub-and-spoke model. The potential future addition of some, or all, of the Company’s fifteen DOE lease tracts not included in the PEA represents upside to the production pipeline. Following JD-8, Anfield intends to advance permitting at JD-7 and Slick Rock.

Uranium Market

Uranium markets remain strong. According to industry-average prices published by Cameco Corporation (based on UxC and TradeTech data), the long-term uranium price closed August 2026 at US$96.50 per pound, above its 2007 peak in nominal terms, and the month-end spot price was US$89.68 per pound. The United States consumes nearly 50 million pounds of uranium annually yet produces only a small fraction domestically. Anfield believes that permitted, past-producing conventional mines that can feed a licensed U.S. mill are well placed in this market.

Growing U.S. Government Demand for Domestic, Unobligated Uranium: Consistent with that view, Anfield submitted a response to a Request for Information titled “NNSA Uranium Acquisition” (Notice No. 89233126RNA000332), for which responses were due September 15, 2026. In the RFI, NNSA described a long-term, steady-state requirement of approximately 4 million pounds per year of unobligated U.S.-origin U₃O₈ (approximately 1,500 metric tons of uranium as UF₆), identified 2030 as the earliest opportunity to begin defense mission-specific procurements, and stated that it intends to procure from the domestic uranium recovery industry, including conventional uranium mills. The RFI is market research and not a solicitation or commitment to purchase. Separately, on August 26, 2026, the U.S. Army announced that it expects more than 20 nuclear microreactors to be built and operated at U.S. military installations under its Janus Program. Anfield believes that its U.S. conventional mines, including JD-8, together with its licensed Shootaring Canyon Mill, are well positioned to help meet growing demand for domestic, U.S.-origin uranium.

Qualified Person

Douglas L. Beahm, P.E., P.G., is the Company’s qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and has reviewed, verified and approved the scientific and technical information contained in this news release. Mr. Beahm is not independent of the Company, as he is the Company’s Chief Operating Officer. [Doug to confirm sign-off.]

Mineral Resources and PEA Cautionary Statement

Mineral resources are not mineral reserves and do not have demonstrated economic viability. The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the PEA will be realized. The JD Mines mineral resource estimate is set out in the technical report titled “US DOE Uranium/Vanadium Leases JD-6, JD-7, JD-8 and JD-9, Montrose County, Colorado, USA, Mineral Resource Technical Report, National Instrument 43-101,” dated effective April 10, 2022, which the PEA’s qualified persons reviewed and deemed to remain valid and effective.¹

Production Decision

The Company’s decision to advance development and permitting of the JD-8 uranium and vanadium mine is based on historical production data and analysis of available technical information, and not on a feasibility study of mineral reserves demonstrating economic and technical viability. As a result, there is increased uncertainty and a higher risk of economic or technical failure associated with that decision.

About Anfield

Anfield Energy is a uranium and vanadium development and near-term production company committed to becoming a significant supplier of energy-related fuels through sustainable, efficient growth of its U.S.-based assets. The Company’s flagship asset is the Shootaring Canyon Mill in Utah, one of only three licensed, permitted, and constructed conventional uranium mills in the country. Anfield’s portfolio includes the advanced Velvet-Wood project (Utah) and other conventional uranium-vanadium assets in Utah, Colorado, Arizona, and New Mexico. All of Anfield’s assets are located in the United States, positioning the Company to help meet America’s growing nuclear fuel needs.

Anfield Energy is a market awareness client of Capital 10X. For more information, including potential conflicts of interest please see our Content Disclaimer.

The post Anfield Energy Receives Colorado Permit for Restart of JD-8 Uranium Mine. appeared first on Capital 10X.

• 166.22 g/t Au and 3383 g/t Ag over 3.1 m (incl. 467 g/t Au & 9510 g/t Ag over 1.1 m) in hole P26U-0095
• 18.26 g/t Au and 34 g/t Ag over 9.2 m (incl. 36.70 g/t Au & 48 g/t Ag over 0.9m) in hole P26-2705
• 14.68 g/t Au and 32 g/t Ag over 10.0 m (incl. 57.20 g/t Au & 112 g/t Ag over 2.0 m) in hole P26U-0049
• 37.38 g/t Au and 134 g/t Ag over 5.0 m (incl. 46.18 g/t Au & 165 g/t Ag over 4.0 m) in hole P26U-0051
• 42.88 g/t Au and 207 g/t Ag over 3.0 m (incl. 126.5 g/t Au & 599 g/t Ag over 1.0 m) in hole P26U-0052
• 31.26 g/t Au and 94 g/t Ag over 4.0 m (incl. 135.5 g/t Au & 218 g/t Ag over 0.8m) in hole P26U-0084

“Ongoing infill drilling is showing strong continuity of high-grade mineralization; we are highly encouraged by excellent silver results, in addition to gold. Areas of PNL that were mined historically had high silver content, with over 40 million ounces produced,” said Robert McLeod, President and CEO of Cambria Gold Mines. “Additionally, Cambria is expanding our infill drilling program, currently targeting areas of wide, potentially bulk mineable mineralization within the Premier Mine Complex. With excellent discovery potential throughout the Premier Project and limited drilling outside of the major deposit areas, we will also be testing exploration targets, including a potential new, parallel zone to PNL that was discovered in 2025.”

Infill drilling at the Premier Project is on average 12.5 meter spaced centres to provide the necessary drill spacing for accurate mine planning and increased Mineral Resource confidence. Results continue to define the continuity of gold-bearing semi-massive to massive sulfide and visible gold mineralization that forms within and along the contacts of primary quartz breccia domains. The northeastern extent of the Prew Zone drilling is defining an area of high grade silver and gold associated with silver sulphosalts and native silver or electrum, as represented in hole P26U-0095 (Figures 3 & 5).

Reported results are from underground drilling at the Prew Zone, as well as surface holes infilling other areas of the Premier-Northern Light Deposit. These additional areas are being evaluated and prioritized for the development of stope and underground drilling access in Q4 2026. This includes areas along the main Premier structure to the southwest of Prew Zone, where P26-2705 intersected 18.26 g/t Au over 9.2 metres, ten metres beyond the end of the historic workings. This zone is believed to be continuous with the 602 Zone drilled earlier in 2026 and will be targeted for further follow-up from underground platforms to better define grade and continuity.

Cambria is also pleased to announce an expansion of the Premier Mine Complex infill program to 42,000 planned metres. The increased program scope will include additional infill drilling at the Silver Coin deposit, where visual results so far show impressive intercepts of structurally controlled quartz breccia and sulfide mineralization, often with visible gold. Initial results from the Silver Coin drilling are expected to be released in October 2026. The drilling program is expected to continue until the end of 2026, with additional infill drilling as well as some exploration drilling planned at the Premier-Northern Lights Deposit over the winter months. Exploration drilling will include follow up of hole P25-2673, which was drilled to the north of the mill in 2025 and intersected 16.20 g/t Au over 3.9 meters in mineralization similar to the Premier deposit (see Figure 1 and Cambria News Release dated March 3, 2026).

Figure 1: Plan map of Premier-Northern Light (PNL) deposit showing new and previously released 2026 drill traces.

Figure 2: Plan map showing the Prew Zone underground workings and drilling results from the 2026 infill program

Figure 3: Cross section A of Prew Zone drilling. Showing mineralized zones represented by composites calculated at 1 g/t and individual assays greater than 10g/t Au. Primary breccia domain shown in blue.

Figure 4: Cross section B of Prew Zone drilling. Showing mineralized zones represented by composites calculated at 1 g/t and individual assays greater than 10g/t Au. Primary breccia domain shown in blue.

Figure 5. Hole P26U-0095 @ 14.1m. High grade gold and silver associated with base metal sulfide mineralization overprinting and infilling a primary quartz breccia host.

Table 1: Drill Results – Significant Intersections

1 – ETW = Estimated True Width. All reported intervals are down-hole lengths, with true width estimates ranging from 50-99% of the reported interval. True widths are estimated based on the angle of the drill hole with the interpreted trend of the mineralized zones.

Composite Calculations for Significant Intersections
Composites for significant intersections were calculated using a 1 g/t gold (Au) cut off grade and maximum 3 metre internal waste. “Including” results are reported at a 10 g/t Au cut off grade with maximum 3 metre internal waste.

Table 2: Drill Collar Locations and Hole Orientations

*masl – metres above sea level

Quality Assurance/Quality Control and Sample Preparation

All samples reported in this news release were obtained from NQ sized drill core. The Company maintains a rigorous sampling and QA/QC procedure for the 2026 drill program. Core samples are prepared at the ALS preparation lab in Terrace, BC. The samples are dried and then crushed to specifications of 70% passing 2mm. Crushed samples are riffle split to 1000g and pulverized to 85% passing 75µm.

Analytical work for all results is completed by ALS Canada Ltd. which maintains an internal quality assurance and quality control (QAQC) program and is ISO:17025 certified for the analytical methods used in this release. Pulp splits are sent directly from the Terrace preparation facility to the ALS Canada Ltd. geochemistry laboratory facility in North Vancouver for analysis. Each sample is analyzed for gold by conventional 50g fire assay with atomic absorption finish (Au-AA26) and multielement analysis by four-acid digest with an ICP finish (ME-ICP61).

Samples over 100ppm gold are re-analyzed by an overlimit 50g fire assay with a gravimetric finish (Au-GRA22). Samples over 100ppm silver are re-analyzed with an ore grade method (ME-OG62) which is a four-acid digest method followed by an ICP‑AES finish (up to 1,500ppm). Samples over 1,500ppm silver trigger the overlimit silver fire assay method (Ag-GRA21) which uses a 30g aliquot and gravimetric finish. Sampling and storage activities are conducted at the Company’s secure facility in Stewart, British Columbia.

The Company maintains a QAQC program that includes the submission and review of coarse blank materials to monitor contamination and certified reference materials to assess analytical accuracy. Core duplicates, crush duplicates and pulp duplicates are used to infer sampling precision and nugget effect.

Qualified Person and Technical Information:

The scientific and technical information within this news release was reviewed and approved by Blaine Smit, P.Geo. Vice President Exploration for Cambria Gold Mines Inc. Mr. Smit is a non-independent “Qualified Person” as defined under National Instrument 43-101. To verify the information related to this news release, Mr. Smit visited the 2026 drilling operations to review and discuss logging, sampling, and shipping procedures with responsible site staff, and reviewed and discussed assay and QA/QC results with responsible company personnel.

About Cambria Gold Mines

Cambria Gold Mines is a Canadian mining company headquartered in Vancouver, British Columbia, and its shares trade on the TSX-V under the ticker CAMB and on the OTCQX Market with the ticker CAMVF. Cambria is the 100% owner of the Premier Project and Red Mountain Gold Project that are located on Nisga’a Nation Treaty Lands, in the prolific Golden Triangle of northwestern British Columbia, as well as the large Mt. Margaret copper-gold porphyry deposit located in Washington State. For more information about the Company, please refer to the Company’s profile on SEDAR+ at www.sedarplus.ca or visit the Company’s web site at www.cambriagold.com.

Cambria Gold Mines is a market awareness client of Capital 10X. For more information, including potential conflicts of interest please see our Content Disclaimer.

The post Cambria Gold Mines Announces 166.2 g/t Au and 3,383 g/t Ag over 3.1 Meters at Premier and Expanded Drilling Program appeared first on Capital 10X.

To support Cambria’s new vision of advancing Mt. Margaret, the Company is pleased to announce the immediate addition of an exceptional US-based director to the Cambria board: Kim Colloton. Additionally, Cleve Rueckert, previously announced as Vice-President (USA), will assume the role of Vice-President of Corporate Development for Cambria. As previously announced, Asa East, Vice-President of Exploration (USA), David Thomas, Vice-President Projects (USA) and Orla Abrahams, Manager, Stakeholder Relations (USA) will continue in their current roles.

“We see the opportunity to build an exceptional growth-oriented company at Cambria, anchored by near-term gold production at the Premier Gold Mine Complex in Canada and a potential Tier 1 copper deposit at Mt. Margaret. With over one square kilometer of outcropping mineralization at surface, open for expansion in most directions and at depth below 500 meters, the Mt. Margaret deposit represents a unique opportunity in the United States. Through systematic goals including: permitting milestones, infill and exploration drilling, Mineral Resource Estimates and Economic Studies, we feel that we can add substantial value for our shareholders by keeping our portfolio together,” said Robert McLeod, CEO of Cambria Gold Mines. “Our Company will be supported by the highly accretive addition of US-based team members, including our new director Retired Major General Kim Colloton, as well as ex-Barrick Vice-President Cleve Rueckert.”

“I am excited about this expanded opportunity, working with an exceptional team focused on building something special,” said Cleve Rueckert. “We think there is substantial value embedded in Cambria’s portfolio of assets and I look forward to helping unlock that value for the benefit of our stakeholders, importantly the communities where we work, our employees and our shareholders.”

Cambria’s US-based management team continues to advance permit applications and environmental studies supporting additional exploration drilling at Mt. Margaret in the near future. The Company has also begun engagement with local communities and county, state, federal and Tribal representatives regarding Mt. Margaret. These early discussions are intended to establish open communication, understand stakeholder priorities, and inform the Company’s environmental, technical and socioeconomic work as the project is evaluated. Additionally, Cambria has completed relogging and geological modelling of available core from the deposit, reaffirming its view of Mt. Margaret as a unique and exceptional copper-gold porphyry deposit.

Board and Management Additions:

Major General (Retired) Kim Colloton, Director

Major General (Retired) Kim Colloton, a senior executive leader with over 30 years of distinguished service in the United States Army, has consistently delivered strategic and enterprise-wide impact across complex global organizations and high-stakes missions. Most recently, she served as the Deputy Chief of Engineers and Deputy Commanding General for the U.S. Army Corps of Engineers (USACE) in Washington, D.C. In this role, she provided strategic leadership and oversight for a $90-billion global portfolio and a workforce of 38,000 civilian and military professionals. She drove performance and accountability across resource management, contracting, engineering and construction, human capital, and network modernization, ensuring the effective and efficient delivery of critical capabilities.

Prior to her current role, Major General Colloton served as the Deputy Commanding General for Military and International Programs. In this capacity, she led the worldwide execution of U.S. military design and construction, real estate, environmental services, and foreign military sales programs that supported key partners and allies. She also advanced interagency engineering solutions for organizations such as the Department of Homeland Security and the Department of Veterans Affairs, thereby strengthening mission readiness across government.

Kim’s leadership experience spans multiple command positions, with her most prominent role being the Commanding General of the United States Army Corps of Engineers’ Transatlantic Division. In this capacity, she directed intricate expeditionary engineering operations to support the Department of Defense, U.S. Central Command, and U.S. Special Operations Command across the Middle East and Central Asia. Her operational experience also includes multiple extended deployments to Afghanistan and Iraq, where she led teams in dynamic and high-risk environments.

Additionally, Kim commanded the United States Army Corps of Engineers’ South Pacific Division, overseeing a ten-state region encompassing the Western and Southwestern United States. She collaborated closely with state and federal leaders to deliver mission-critical military construction, significant civil works initiatives such as coastal storm damage mitigation and flood risk reduction, water resource planning, environmental programs, and regional emergency preparedness and disaster response operations. Kim has also held key staff positions, including Chief of the Mission Assurance & Protection Division on the Joint Staff in Washington, D.C.

Kim holds a Bachelor of Architecture and Building Science from Rensselaer Polytechnic Institute, a Master of Science in Civil Engineering from Stanford University, and a Master of Science in National Resource Strategy with a concentration in strategic materials from the National Defense University’s Eisenhower School. She also completed a fellowship at the RAND Corporation’s Arroyo Center. Currently, she serves as a Non-Executive Director for Bayan Mining and Minerals Limited, an Australian Securities Exchange-listed company, and as a Corporate Advisory Board Member for Strategic Solutions Unlimited, located in Fayetteville, North Carolina.

Cleveland Rueckert, Vice-President of Corporate Development

Cleveland Rueckert is a seasoned finance professional with twenty years of capital markets experience spanning investment management, equity research and investor relations. Cleve most recently served as Vice President, Head of Investor Relations at Barrick Mining Corporation, one of the world’s leading gold producers, where he helped the investment community understand the value of the world-class Fourmile project. Prior to joining Barrick, Cleve had many years of progressively senior roles at investment banks, primarily in equity research at UBS, concluding as an Executive Director covering the Metals & Mining and Paper & Packaging sectors in both North and South America. He began his career working at Birinyi Associates with the legendary investment strategist and Salomon Brothers alumnus, Laszlo Birinyi.

Cleve holds an MBA from the NYU Stern School of Business and a BA from the University of Vermont. He brings a rare combination of analytical rigor, media fluency, and relationship-building to his work. Beyond his professional life, Cleve serves on the Board of Directors of the YMCA of Greater New York, as Vice Chair of the Finance Committee and as a Director and member of the Investment Committee of the Cleveland H. Dodge Foundation.

Termination of Arrangement with ECC Ventures

The Company is terminating the binding term sheet with ECC Ventures 4 Corp. (TSXV: ECCF.P) (“ECC4“) and cancelling the proposed spin-out transaction with ECC4 and concurrent financing, previously announced on July 7, 2026.

Equity Grant

Cambria further announces the granting of incentive stock options (“Options“) to purchase an aggregate of 2,800,000 common shares of the Company (a “Common Share“) to new directors, officers, employees and consultants of the Company in accordance with the Company’s Stock Option Plan, which was approved by the shareholders of the Company at its annual meeting of shareholders held on June 29, 2026. Each Option is exercisable into one Common Share at an exercise price of $0.90. The Options vest over eighteen months, with 25% vesting on the date of grant and an additional 25% vesting every six months thereafter, expiring September 16, 2031.

In addition, the Company has granted 700,000 restricted share units (“RSUs“) and 180,000 deferred share units (“DSUs“) to new directors, officers, employees and consultants of the Company. Each of the RSUs and DSUs will vest equally over three years, with the first vesting date occurring September 16, 2027. Upon vesting, each RSU and DSU represents the right to receive one Common Share in accordance with the Restricted Share Unit Plan / Deferred Share Unit Plan, which was approved by the shareholders of the Company at its annual meeting of shareholders held on June 29, 2026.

About the Mt. Margaret Copper-Gold Deposit

The Mt. Margaret deposit is a calc-alkaline porphyry deposit hosting high-grade copper, gold, and molybdenum mineralization located approximately 22 km southwest of Randle, Washington State. The Mt. Margaret Project is primarily located on patented federal mineral claims that are held by Cambria and the United States Federal Government Bureau of Land Management (“BLM“) and located on Forest Service land. Through its US entity, Ascot USA Inc. (“Ascot US“), Cambria controls 50% mineral rights of select patented claims centered over the deposit with the Federal Government controlling the remaining 50%, as well as other patents in the area. Cambria also controls 100% interest in 184 lode claims surrounding the property. The Company has been advancing discussions with various US Federal Government Departments, including the BLM, regarding future direction for the deposit.

This porphyry system was discovered and actively explored by Duval Corporation (“Duval“) from 1971-1980, completing a total of 20,729m over 105 diamond drill holes (Taylor, 1980)1. In 2010, Cambria’s predecessor, Ascot Resources Ltd., completed 4,880m of infill diamond drilling over 10 holes, which confirmed and expanded the mineralized zones defined by Duval’s drilling (See Cambria’s News Releases dated October 13, November 3, November 23, and December 1, 2010 and January 12, 2011).

A historical mineral resource was completed by Duval for the Mt. Margaret deposit, totaling 577Mt grading 0.36% Cu, 0.24 g/t Au, 0.011% Mo, and 1.58 g/t Ag (Taylor, 1980)1. This historic estimate predates the implementation of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI-43-101“) guidelines and is not compliant with currently accepted reserve and resource classifications as set forth by the Canadian Institute of Mining and Metallurgy, August 20, 2000 (CIM Guidelines) or the United States Securities and Exchange Commission’s Regulation Subpart 1300 of Regulation S-K (“S-K 1300“). Furthermore, uncertainty regarding cut-off grade, metal prices, modelling methodology, or other parameters and assumptions used in the Duval work could impact the reliability of the historic estimation. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves and the Company is not treating the historical estimate as current mineral resources or mineral reserves. Further work including quality assurance / quality control procedures, geological modelling, and assay certificate and collar validation by a Qualified Person would be required to produce a NI-43-101 or an S-K 1300 compliant resource. There are no guarantees that this additional work would confirm the historical resource estimate defined by Duval.

Qualified Person
The scientific and technical information within this news release has been reviewed and approved by Asa East, CPG, Vice President Exploration (USA) for Cambria Gold Mines Inc. and a non-independent Qualified Person as defined by National Instrument 43-101. Mr. East is a Certified Professional Geologist in good standing with the American Institute of Professional Geologists (AIPG).

About Cambria Gold Mines

Cambria Gold Mines is a Canadian mining company headquartered in Vancouver, British Columbia, and its shares trade on the TSXV under the ticker CAMB and on the OTCQX Market with the ticker CAMVF. Cambria is the 100% owner of the Premier Gold mine and Red Mountain Gold Project that are located on Nisga’a Nation Treaty Lands, in the prolific Golden Triangle of northwestern British Columbia. For more information about the Company, please refer to the Company’s profile on SEDAR+ at www.sedarplus.ca or visit the Company’s web site at www.cambriagold.com.

Cambria Gold Mines is a market awareness client of Capital 10X. For more information, including potential conflicts of interest please see our Content Disclaimer.

The post Cambria Gold Mines to Retain Mt. Margaret Copper-Gold Porphyry in Portfolio; Announces New Director Kim Colloton and Cleve Rueckert as VP Corporate Development and Announces Equity Grants appeared first on Capital 10X.

By rationale dated August 24, 2026, the Colorado Division of Reclamation, Mining and Safety (“DRMS”) determined that Highbury’s Regular (112d) reclamation permit application (File No. M-2025-056) meets the requirements of the Colorado Mined Land Reclamation Act and the Mineral Rules and Regulations of the Colorado Mined Land Reclamation Board (the “Board” or “MLRB”) and recommended that the Board approve the application.

A staff finding of completeness, together with a recommendation for approval, is a significant de-risking event. A formal public hearing is scheduled for the Board’s October 14–15, 2026 meeting in Denver.

DRMS is Colorado’s principal state authority for hard-rock mine reclamation permitting. A Division recommendation for approval moves JD-8 from staff-level review into a defined Board decision window — a significant milestone in Anfield’s Colorado West Slope / Monogram Mesa permitting program. The Board hearing is the final step in completing Anfield’s state permitting for JD-8.

Corey Dias, Anfield CEO, commented: “DRMS’s recommendation that the Board approve the JD-8 permit is a major permitting milestone. Colorado DRMS is the primary state authority for this mine-plan decision, and the October Board hearing puts us in a defined decision window. JD-8 is planned as Anfield’s second mine after Velvet-Wood, with a targeted restart by the end of Q2 2027, after which we intend to advance both JD-7 and Slick Rock. This is concrete progress toward domestic conventional production feeding our Shootaring-centered hub-and-spoke strategy.”

Permitting Path

This milestone follows a defined sequence of steps in the process:

• December 22, 2025 — DRMS issued an initial completeness determination on Highbury’s JD-8 restart application package, allowing the matter to advance through substantive review.
• April 29, 2026 — The 112d application under File No. M-2025-056 was filed with DRMS (as reflected in the Division’s September 10, 2026 hearing notice).
• August 24, 2026 — DRMS issued its rationale recommending that the Board approve the application.
• September 10, 2026 — DRMS announced a Formal Board Hearing during the Board’s October 14–15, 2026 meeting in Denver.

Updated Timeline and Hub-and-Spoke Strategy

Subject to Board approval and remaining operational readiness work, Anfield is targeting a restart of uranium and vanadium production at JD-8 by the end of the second quarter of 2027. This updated timeline reflects the remaining Board process, mobilization, and underground restart activities at a past-producing brownfield site. Velvet-Wood in Utah remains the Company’s first mine advancing toward production; JD-8, along with Slick Rock, are intended to be the next mines in Anfield’s hub-and-spoke model, with ore shipped to a permitted mill — supporting the Shootaring Canyon Mill in Utah, one of only three licensed, permitted, and constructed conventional uranium mills in the United States. No on-site processing or milling is proposed in the JD-8 application.

Upon completion of JD-8 state reclamation permitting, Anfield intends to focus on advancing additional Colorado mine permitting at both JD-7 (within the Monogram Mesa Mine Complex) and at Slick Rock.

Market & U.S. Policy Backdrop

Since Anfield’s April 8, 2026 JD-8 amendment announcement, uranium market conditions and U.S. nuclear-fuel policy have continued to strengthen. The uranium long-term contract price closed August 2026 at US$96.50 per pound, above its 2007 peak, while spot U₃O₈ has recently traded near US$90 per pound.

In the United States, policy support for domestic nuclear fuel has accelerated. The U.S. Department of Energy has advanced large-scale nuclear supply-chain financing, including US$17.5 billion in conditional American Nuclear Supply Chain loans to support new large reactors, and has continued implementation of domestic enrichment and fuel-cycle programs under the Defense Production Act. Additional recent developments include federal support for reactor restarts, expansion plans at the only commercial-scale U.S. enrichment plant, and continued administration emphasis on reducing reliance on foreign uranium as the ban on Russian uranium imports phases toward full effect in 2028. EIA data have also shown a rebound in U.S. uranium concentrate production.

Anfield believes this combination of stronger term and spot pricing and a more supportive U.S. nuclear-fuel policy environment reinforces the strategic value of advancing permitted, past-producing conventional mines that can feed a licensed U.S. mill.

About JD-8

The JD-8 Mine is located approximately 11 miles west of Naturita, Colorado, on approximately 28.3 acres within Department of Energy Uranium Leasing Program lease tracts. It is a past-producing conventional underground uranium and vanadium mine and a key asset within Anfield’s Monogram Mesa Mine Complex. Historic Cotter operations at JD-8 were suspended in 2006 due to market conditions.

Production Decision

The Company’s decision to advance development and permitting of the JD-8 uranium and vanadium mine is based on historical production data and analysis of available technical information, and not on a feasibility study of mineral reserves demonstrating economic and technical viability. As a result, there is increased uncertainty and a higher risk of economic or technical failure associated with that decision.

About Anfield

Anfield Energy is a uranium and vanadium development and near-term production company committed to becoming a significant supplier of energy-related fuels through sustainable, efficient growth of its U.S.-based assets. The Company’s flagship asset is the Shootaring Canyon Mill in Utah, one of only three licensed, permitted, and constructed conventional uranium mills in the country. Anfield’s portfolio includes the advanced Velvet-Wood project (Utah) and other conventional uranium-vanadium assets in Utah, Colorado, Arizona, and New Mexico. All of Anfield’s assets are located in the United States, positioning the Company to help meet America’s growing nuclear fuel needs. The U.S. consumes nearly 50 million pounds of uranium annually yet produces only a small fraction domestically.

Anfield Energy is a market awareness client of Capital 10X. For more information, including potential conflicts of interest please see our Content Disclaimer.

The post Anfield’s JD-8 Mine Moves into Final Approval Phase of Colorado Permitting, With Restart on Track for Q2 2027. appeared first on Capital 10X.

Subject to Division approval and confirmation that treated water meets permit limits, Anfield is targeting commencement of treated-water discharge in the second week of November, clearing the path to active dewatering of the historic underground workings.

These steps follow the Company’s August 27th announcement of the first underground blast at Velvet-Wood in nearly 40 years and rehabilitation of the first 700 feet of the decline.

Construction of the water treatment plant and installation of the dewatering pump have continued in parallel. Once discharge begins, Anfield expects the remaining portion of the decline to dewater within approximately the first month of active pumping, with roughly two to three months required to dewater the existing underground workings.

Velvet-Wood last produced uranium and vanadium in 1984. Bringing the historic underground workings back into a dry, workable condition is a central step in Anfield’s hub-and-spoke strategy, which centers on the fully permitted Shootaring Canyon Mill in Utah — one of only three licensed, permitted, and constructed conventional uranium mills in the United States.

Corey Dias, CEO of Anfield, commented: “We are moving Velvet-Wood from restart milestones into an executable dewatering timeline. Utah’s Concept Approval of our water treatment plan, together with our request to reactivate Outfall, puts us on track to begin treated discharge as early as November 7, subject to final Division approval and permit compliance. Combined with the first underground blast in nearly four decades and ongoing decline rehabilitation, Velvet-Wood is advancing as a real near-term contributor to our Shootaring-centered hub-and-spoke platform.”

About Anfield

Anfield Energy is a uranium and vanadium development and near-term production company committed to becoming a significant supplier of energy-related fuels through sustainable, efficient growth of its U.S.-based assets. The Company’s flagship asset is the Shootaring Canyon Mill in Utah, one of only three licensed, permitted, and constructed conventional uranium mills in the country. Anfield’s portfolio includes the advanced Velvet-Wood project (Utah) and other conventional uranium-vanadium assets in Utah, Colorado, Arizona, and New Mexico. All of Anfield’s assets are located in the United States, positioning the Company to help meet America’s growing nuclear fuel needs. The U.S. consumes nearly 50 million pounds of uranium annually yet produces only a small fraction domestically.

Anfield Energy is a market awareness client of Capital 10X. For more information, including potential conflicts of interest please see our Content Disclaimer.

The post Anfield Receives Water Treatment Plan Approval, Targets Dewatering to Begin in November appeared first on Capital 10X.

Figure 1: Gold Chain Property Map Highlighting Geology and 2026-2027 Target Areas.

Northeast (“NE”) Tyro
The best drill results at the Gold Chain project to date have been from NE Tyro. This shallow zone has returned significant grades and widths. Drilling in 2026 materially expanded this zone along strike and at depth, providing critical mass for the pending maiden resource. The next drilling phase at this zone will focus on pushing gold mineralization deeper and below some of the final high-grade holes from the most recent drill program (Target Area 1 – Figure 2). Additionally, the zone remains open to the northeast towards the Frisco Mine fault, the southwest boundary of the Frisco Graben target. West Point Gold believes that the Frisco Mine fault may serve as a regional conduit for mineralizing fluids, and moving toward the fault and downwards along the footwall is very prospective. Figure 2 shows the target areas at NE Tyro (Target Area 2). The amount of drilling at NE Tyro will be dependent on results.
 
Tyro Main Zone
Tyro Main is also expected to contribute materially to the maiden resource. Recent drilling at the Tyro Main Zone demonstrated weakening gold grades to depth; however, the alteration in those drill holes appears to more closely resemble what one would typically see above a low sulphidation epithermal gold zone, not below. As such, the plan is to continue testing the Tyro Main zone to depth (Target Area 3 – Figure 2) using two strategies: first, stepping down below the 2026 intercepts; and second, pushing the limits of Target Area 1 to the southwest and beneath the current Tyro Main mineralized zone.

 
Figure 2: Tyro Long Section showing drill hole traces and intercepts. Also shown are the generalized targets (#1 – #3) in order of priority for the upcoming drilling campaign.

Black Dyke Target
Black Dyke has evolved from a historical prospect into a credible second potential resource-development area at Gold Chain but will not be included in the maiden resource. Its shallow, low-angle geometry, along with its oxidized nature, could make it particularly attractive for potential open-pit development if additional drilling establishes sufficient scale and continuity. The zone is located approximately 4km west of the Tyro Main Zone along the Roadside Mine fault, which borders the southwest flank of the Katherine Horst. Alteration and vein textures observed in the shallow drilling suggest additional potential exists at depth, which has been supported by recently acquired historical drilling data.
 
Initial RC drilling has defined a shallow-dipping zone extending for at least 200m along strike and approximately 250m down-dip. Importantly, mineralization begins at or near surface, is largely oxidized, and remains open to the west and down-dip to the southwest. Initial drilling returned encouraging, relatively consistent widths and grades, highlighted by 36.6 m at 1.04 g/t Au (GC26-095) from surface, 21.3 m at 0.92 g/t Au (GC26-098), 7.6 m at 1.56 g/t Au (GC26-099), and 12.2 m at 1.09 g/t Au (GC26-101).
 
Drilling is planned to follow up on the high-grade historical results and continue expanding the zone towards the Roadside Mine fault.

Figure 3: Geologic Map of the Black Dyke prospect showing historical and 2026 (purple) drill holes along with surface samples. Please note historical holes BD8837 and BD8840 with 1.5 to 4.6m of >1 opt Au.

Sheep Trail
Sheep Trail was the highest grade mine in the Katherine (North Oatman) District when it was last mined over 100 years ago. Recent drill results suggest that it is a third potential resource-development area at Gold Chain. Located approximately 600 metres south of the Tyro Main Zone, drilling at Sheep Trail has intersected broad zones of shallow gold mineralization within an extensive structural corridor that can be traced for more than one kilometre. Recent drilling has returned encouraging near-surface intersections, including 32.0 metres grading 1.05 g/t Au from only 9.1 metres depth (GC26-106), 19.8 metres grading 1.42 g/t Au from 51.8 metres (GC26-111), and 7.6 metres grading 2.41 g/t Au from 61.0 metres (GC26-113).
 
Importantly, mineralization remains open along strike, providing an opportunity to expand the system through additional drilling. Continued drilling will focus on expanding the known mineralized zones, testing extensions along the broader Banner–Sheep Trail trend and evaluating the potential for Sheep Trail to contribute meaningful additional ounces to the Gold Chain resource base.
 
Bull 8 Target
Bull 8 is an early-stage gold discovery located approximately 6 km northwest of the Tyro Zone.  The prospect occurs along the northwest-trending Union Pass Fault Corridor characterized by strongly sheared, brecciated and altered Precambrian granite cut by fault-bounded dikes. Historical pits, adits and trenches occur throughout the prospect, with surface samples returning up to 2.09 g/t Au. Widespread quartz veining, hydrothermal alteration and anomalous gold occur along the broader Union Pass Fault Corridor, which extends for roughly 12 km across the property. The fault corridor is interpreted as a major pre-, intra- and post-mineral structural control on the broader Gold Chain mineralizing system. The 2026 drilling consisted of six RC holes totalling 856 m, with gold mineralization intersected in every hole. The standout result was GC26-136: 21.4 m at 1.01 g/t Au, including an estimated 18 m true width, beginning at 71.6 m depth. A second hole, GC26-130, returned 12.2 m at 0.41 g/t Au from only 6.1 m depth, demonstrating that mineralization also occurs close to surface. 
 
Drilling is expected to follow up on the 2026 results and expand the zone to depth and along strike.
 
Frisco Graben
The Frisco Graben represents one of the largest and most compelling discovery opportunities at the Gold Chain Project. Located immediately northeast of the high-grade Northeast Tyro zone, Frisco Graben is a large-scale, concealed low-sulphidation epithermal gold target extending approximately four kilometres in length and up to 750m in width. The target lies at the intersection of the northeast extension of the mineralized Tyro structural corridor and the regionally significant northwest-trending Frisco Mine Fault, creating a highly prospective structural setting for the development of a substantial gold system (Figure 4).
 
Exploration at Frisco has identified widespread, intense hydrothermal alteration associated with rhyolite dikes, flow domes, volcanic rocks, and major graben-bounding structures. Initial drilling encountered broad zones of deeply oxidized kaolinite-silica-hematite alteration in the hanging wall of the Frisco Mine fault. Prior drilling intersected anomalous gold and elevated mercury, an important pathfinder element in low-sulphidation epithermal systems. Hyperspectral and geochemical studies indicate that the initial drill holes remained within the upper, steam-heated portion of the hydrothermal system, suggesting that the prospective gold-bearing boiling zone may occur deeper and remains largely untested.
 
Drilling conducted in 2026 at NE Tyro reveals that gold mineralization is extending toward and plunging into the footwall of the Frisco Mine fault. This provides West Point Gold the opportunity to follow mineralization into and beneath the Frisco Graben domain. Recognizing the complex structural and hydrothermal history at Gold Chain, determining the relationship between gold mineralization in the footwall and steam-generated alteration in the hanging wall of the Frisco Mine fault is an important objective in the 2026-2027 drilling campaign.
 

Figure 4: Geologic Map of the intersection of the Tyro Vein System and the Frisco Mine fault revealing the spatial relation between gold mineralization and steam-generated alteration of the Frisco Graben target area.

Approval of Deferred Share Unit and Restricted Share Unit Plan
The Company also announces that, on August 20, 2026, disinterested shareholders of the Company approved the adoption of its deferred share unit and restricted share unit plan (the “DSU/RSU Plan”). The DSU/RSU Plan is intended to attract, retain, and motivate key individuals to provide services to the Company. The DSU/RSU Plan permits a maximum of 13,708,176 common shares in the capital of the Company that may be issued to eligible participants under the DSU/RSU Plan, subject to adjustment as provided for in the DSU/RSU Plan. Please refer to the Company’s management information circular dated July 21, 2026, available on SEDAR+ under the Company’s profile, for a copy and summary of the DSU/RSU Plan.

Equedia Marketing Agreement
West Point Gold has engaged Equedia Network Corp., an arm’s-length service provider, to provide communications and advisory services in accordance with TSX Venture Exchange policies and applicable securities laws.
Based in Richmond, B.C., Equedia specializes in marketing, communications, media engagement and public awareness services within the mining and metals sector. Under a media and investor relations services agreement dated September 8, 2026, Equedia will provide communications, marketing and advisory services to the company for a three-month term for a one-time fee of $500,000, plus applicable taxes payable at the commencement of services.
The company will not issue any securities to Equedia as compensation for its marketing services. As of the date hereof, to the Company’s knowledge, Equedia (including its directors and officers) does not own any securities of the Company.
The marketing agreement with Equedia is subject to TSX Venture Exchange approval.

Qualified Person
Robert Johansing, M.Sc. Econ. Geol., P. Geo., the Company’s Vice President, Exploration, is a qualified person (“QP”) as defined by NI 43-101 and has reviewed and approved the technical content of this press release. Mr. Johansing has also been responsible for overseeing all phases of the drilling program, including logging, labelling, bagging and transport from the project to American Assay Laboratories of Sparks, Nevada. Drillholes have a diameter of about 10cm, and samples have an approximate weight of 5 to 10kg.  Samples were then dried, crushed and split, and pulp samples were prepared for analysis. Gold was determined by fire assay with an ICP finish, and over-limit samples were determined by fire assay and gravimetric finish. Silver plus 15 other elements were determined by Aqua Regia ICP-AES (IM-2A16), and over-limit samples were determined by fire assay and gravimetric finish. Both certified standards and blanks were inserted on site along with duplicates, standards and blanks inserted by American Assay. The results summarized above have been carefully reviewed with reference to the QA/QC results. Standard sample chain of custody procedures were employed during drilling and sampling campaigns until delivery to the analytical facility.
 
The QP has not completed sufficient work to verify the historical information received on the Black Dyke, Bull 8 and Gold Chain Hill targets, particularly with regard to historical drill results. However, the QP believes that prior drilling and analytical results were completed to industry standard practices at the time they were drilled.
 
About West Point Gold Corp.
West Point Gold is an exploration and development company focused on unlocking value across four strategically located projects along the prolific Walker Lane Trend in Nevada and Arizona, USA, providing shareholders with exposure to multiple discovery opportunities across one of North America’s most productive gold regions. The Company’s near-term priority is advancing its flagship Gold Chain Project in Arizona.

West Point Gold is a research client of Capital 10X. For more information, including potential conflicts of interest please see our Content Disclaimer.

The post West Point Gold Commences 30,000 Meter Drill Program at Gold Chain Target in Arizona appeared first on Capital 10X.

Highlights
The La Verde porphyry discovery has delivered another round of high-grade, near-surface coppergold drill results, supporting the Company’s objective of integrating La Verde into the Costa Fuego
copper-gold (Cu-Au) Project, located on Chile’s coastal range at low elevation.
Three high-grade intersections from shallow depths headline the latest Reverse Circulation (RC)
drilling at La Verde, supporting the continuity of wide mineralised zones across the deposit.
Significant intersections include:

• DKP063 recorded 398 m grading 0.45% CuEq (0.35% Cu, 0.12 g/t Au) from surface
  o Including 62 m grading 0.91% CuEq (0.70% Cu, 0.30 g/t Au) from 20 m depth
  o Which included 12 m grading 1.00% CuEq (0.66% Cu, 0.49 g/t Au) from 20 m depth
  o And included 34 m grading 1.00% CuEq (0.80% Cu, 0.27 g/t Au) from 42 m depth
• DKP075 recorded 132 m grading 0.57% CuEq (0.45% Cu, 0.16 g/t Au) from 24 m depth (partial)
  o Including 42 m grading 0.70% CuEq (0.57% Cu, 0.19 g/t Au) from 96 m
  o Assays are still outstanding for the remaining 177 m, results expected shortly
• DKP064 recorded 126 m grading 0.45% CuEq (0.38% Cu, 0.08 g/t Au) from 54 m depth
  o Including 26 m grading 0.70% CuEq (0.60% Cu, 0.13 g/t Au) from 108 m
  Assays from 22 drillholes (two Diamond Drill (DD), one DD tail and 19 RC) remain pending,
  providing a steady flow of results as assay turnaround time improves from two accredited laboratories.

________________________________________________________________________________________________________________________

1 Copper Equivalent (CuEq) reported for the drillhole intersections were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne × Cu_recovery) + (Mo ppm × Mo price per g/t × Mo_recovery) + (Au ppm × Au price per g/t × Au_recovery) + (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1% per tonne × Cu_recovery).
The Metal Prices applied in the calculation were: Cu=4.50 USD/lb, Au=3,150 USD/oz, Mo=20 USD/lb, and Ag=30 USD/oz. The entirety of the intersection is assumed as fresh. The recovery and copper equivalent formula for La Verde uses Cortadera as a proxy, which is considered reasonable given both the similar mineralisation style and amenability testwork completed thus far at La Verde – Recoveries of 83% Cu, 56% Au, 83% Mo and 37% Ag. CuEq (%) = Cu(%) + 0.69 x Au(g/t) + 0.00044 x Mo(ppm) + 0.0043 x Ag(g/t).

Hot Chili Limited (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) announced another set of high-grade drill results from its La Verde Cu-Au porphyry discovery (La Verde), located 30 km south of the Company’s Costa Fuego Cu-Au Project (Costa Fuego) planned central processing hub in Chile’s coastal Atacama region.

Christian Easterday, Managing Director of Hot Chili, said: “DKP063 is among the strongest near-surface
intersections we have drilled at La Verde so far, with comparable grades are now appearing across the
deposit, we have confidence in the scale of a potential high-grade starter pit for Costa Fuego. With assays
from 22 holes still to come, our focus is on converting this drilling into a maiden Mineral Resource and,
from there, integrating this into an enhanced and upscaled Costa Fuego Prefeasibility study.”

Three New, Near-Surface High-Grade Intersections Highlight Scale

Three RC drillholes targeting the up-dip extension of high-grade mineralisation at La Verde have each
returned wide intersections of copper-gold mineralisation from shallow depths. Importantly, these results
are distributed across the deposit, highlighting the scale and continuity of La Verde’s growing high-grade
core.

These results are headlined by DKP063 (Figure 3 and 4), which recorded 398 m grading 0.45% CuEq
(0.35% Cu, 0.12 g/t Au) from surface. Within this, a significant higher-grade component includes 62 m
grading 0.91% CuEq (0.70% Cu, 0.30 g/t Au) from just 20 m depth, demonstrating the continuity of highgrade mineralisation at shallow depths (Figure 6) and reinforcing the potential for a high-grade starter pit,
capable of delivering early higher-grade material to the Costa Fuego mine plan.

DKP075 recorded a partial result of 132 m grading 0.57% CuEq (0.45% Cu, 0.16 g/t Au) from 24 m
depth which included 42 m grading 0.70% CuEq (0.57% Cu, 0.19 g/t Au) from 96 m (Figure 5). The hole
was designed to test a near-surface data gap between two interpreted high-grade areas, with the result
indicating continuity of a broad blanket of oxide mineralisation in this area. Results from the final 177 m of
this hole are still outstanding and are expected to be reported shortly.
Additionally, DKP064, which was collared at the southern extent of La Verde’s high-grade core, returned
126 m grading 0.45% CuEq (0.38% Cu, 0.08 g/t Au) from 54 m depth, including 26 m grading 0.70%
CuEq (0.60% Cu, 0.13 g/t Au) from 108 m, together with a second intersection of 74 m grading 0.35%
CuEq (0.29% Cu, 0.07 g/t Au) from 276 m.

Importantly, the presence of these grades at the southern margin of the interpreted high-grade core further
supports the lateral continuity of higher-grade mineralisation and suggests potential for expansion in this
direction, which remains to be tested (Figure 4).

Updated DKD060 Result Extends Mineralisation to 765m Down-Hole Depth

Final assay results for the deeper portion of DKD060 have been added to the previously reported
intersection of 472 m grading 0.41% CuEq (0.34% Cu, 0.08 g/t Au) from 49 m (see announcement dated
24 August 2026).

An additional intersection of 123.1 m grading 0.30% CuEq (0.27% Cu, 0.02 g/t Au) from 642.1 m confirms
continuity of the mineralised porphyry system to 765.2 m, close to the end-of-hole depth of 772.7 m,
highlighting the vertical extent and scale potential of the La Verde discovery (Figure 4). The interval is
punctuated by a narrow, higher-grade zone of 2.3 m grading 4.56% Cu from 655.5 m hosted within
chalcopyrite-rich veining.

Advancing Toward Maiden MRE and Pre-Feasibility Study (PFS) Integration

Hot Chili continues to advance resource definition and development workstreams at La Verde, with a maiden
Mineral Resource Estimate (MRE) targeted for completion later this year. The Company expects to follow
with a revised Costa Fuego Pre-Feasibility Study (PFS), incorporating La Verde, ahead of formal submission
of the Costa Fuego Environmental Impact Assessment (EIA) in Q2 2027.

Ongoing drilling continues to expand and upgrade confidence in La Verde’s high-grade copper-gold
mineralisation, supporting the Company’s objective of integrating the discovery into the Costa Fuego mine
plan and development strategy.

Figure 1. Location of La Verde in relation to Costa Fuego, coastal range Chile

1asl = above sea level

Table 1. New significant drilling intersections from La Verde

Notes to Table 1: Significant intercepts for La Verde are reported above a nominal cut-off grade of 0.20% Cu. Reported intersections may include internal dilution (intervals below 0.20% Cu), including zones exceeding 30 m downhole width, where the overall weighted average grade of the intersection remains above the cut-off grade. Significant intersections are separated where zones of internal dilution result in discrete intervals that do not meet the reporting criteria. The selection of a 0.20% Cu cut-off grade is aligned with a marginal economic cut-off for bulk tonnage polymetallic copper deposits of comparable grade in Chile and globally.

1 Copper Equivalent (CuEq) reported for the drillhole intersections were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne × Cu_recovery) + (Mo ppm × Mo price per g/t × Mo_recovery) + (Au ppm × Au price per g/t × Au_recovery) + (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1% per tonne × Cu_recovery). The Metal Prices applied in the calculation were: Cu=4.50 USD/lb, Au=3,150 USD/oz, Mo=20 USD/lb, and Ag=30 USD/oz. The entirety of the intersection is assumed as fresh. The recovery and copper equivalent formula for La Verde uses Cortadera as a proxy, which is considered reasonable given both the similar mineralisation style and amenability testwork completed thus far at La Verde – Recoveries of 83% Cu, 56% Au, 83% Mo and 37% Ag. CuEq (%) = Cu(%) + 0.69 x Au(g/t) + 0.00044 x Mo(ppm) + 0.0043 x Ag(g/t).

Figure 2. Plan view map of La Verde showing recent drill hole results and updated +0.2% copper (yellow), +0.3% copper (red), +0.4% copper (magenta) mineralisation interpolants. Drilled holes with pending assays are shown in black. Position of A – A’ long section (Figure 3), B – B’ cross section (Figure 4) and C – C’ cross section (Figure 5) annotated with white dashed lines. Conceptual open pit shells1 displayed for $US3.50/lb Cu (short dash) and $US6.00/lb Cu (long dash) displayed as dashed lines. Results reported including CuEq2

1 See Page 11 of this announcement for detail on the US$3.50 Cu and US$6.00 Cu conceptual open pit shells (Exploration Targets). Any potential tonnage and grade of the Exploration Target shown is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource within the target area, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

2 Copper Equivalent (CuEq) reported for the drillhole intersections were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne × Cu_recovery) + (Mo ppm × Mo price per g/t × Mo_recovery) + (Au ppm × Au price per g/t × Au_recovery) + (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1% per tonne × Cu_recovery). The Metal Prices applied in the calculation were: Cu=4.50 USD/lb, Au=3,150 USD/oz, Mo=20 USD/lb, and Ag=30 USD/oz. The entirety of the intersection is assumed as fresh. The recovery and copper equivalent formula for La Verde uses Cortadera as a proxy, which is considered reasonable given both the similar mineralisation style and amenability testwork completed thus far at La Verde – Recoveries of 83% Cu, 56% Au, 83% Mo and 37% Ag. CuEq (%) = Cu(%) + 0.69 x Au(g/t) + 0.00044 x Mo(ppm) + 0.0043 x Ag(g/t).

Figure 3. Long-section slice (A – A’) showing recent drill hole results and updated +0.2% copper (yellow), +0.3% copper (red), +0.4% copper (magenta) mineralisation interpolants. Returned Cu grades shown on hole traces, drilled holes with pending assays are shown in black. Conceptual open pit shells1 displayed for $US3.50/lb Cu (short dash) and $US6.00/lb Cu (long dash) displayed as dashed lines. Results reported including CuEq2.

1 See Page 11 of this announcement for detail on the US$3.50 Cu and US$6.00 Cu conceptual open pit shells (Exploration Targets). Any potential tonnage and grade of the Exploration Target shown is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource within the target area, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

2 Copper Equivalent (CuEq) reported for the drillhole intersections were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne × Cu_recovery) + (Mo ppm × Mo price per g/t × Mo_recovery) + (Au ppm × Au price per g/t × Au_recovery) + (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1% per tonne × Cu_recovery). The Metal Prices applied in the calculation were: Cu=4.50 USD/lb, Au=3,150 USD/oz, Mo=20 USD/lb, and Ag=30 USD/oz. The entirety of the intersection is assumed as fresh. The recovery and copper equivalent formula for La Verde uses Cortadera as a proxy, which is considered reasonable given both the similar mineralisation style and amenability testwork completed thus far at La Verde – Recoveries of 83% Cu, 56% Au, 83% Mo and 37% Ag. CuEq (%) = Cu(%) + 0.69 x Au(g/t) + 0.00044 x Mo(ppm) + 0.0043 x Ag(g/t).

Figure 4. Cross section slice (B – B’) showing recent drill hole results DKP063, DKP064, DKP059 and DKD060 (± 75m clipping) and updated +0.2% copper (yellow), +0.3% copper (red), +0.4% copper (magenta) mineralisation interpolants. Returned Cu grades shown on hole traces, drilled holes with pending assays are shown in black. Conceptual open pit shells1 displayed for $US3.50/lb Cu (short dash) and $US6.00/lb Cu (long dash) displayed as dashed lines. Results reported including CuEq2.

1 See Page 11 of this announcement for detail on the US$3.50 Cu and US$6.00 Cu conceptual open pit shells (Exploration Targets). Any potential tonnage and grade of the Exploration Target shown is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource within the target area, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

2 Copper Equivalent (CuEq) reported for the drillhole intersections were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne × Cu_recovery) + (Mo ppm × Mo price per g/t × Mo_recovery) + (Au ppm × Au price per g/t × Au_recovery) + (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1% per tonne × Cu_recovery). The Metal Prices applied in the calculation were: Cu=4.50 USD/lb, Au=3,150 USD/oz, Mo=20 USD/lb, and Ag=30 USD/oz. The entirety of the intersection is assumed as fresh. The recovery and copper equivalent formula for La Verde uses Cortadera as a proxy, which is considered reasonable given both the similar mineralisation style and amenability testwork completed thus far at La Verde – Recoveries of 83% Cu, 56% Au, 83% Mo and 37% Ag. CuEq (%) = Cu(%) + 0.69 x Au(g/t) + 0.00044 x Mo(ppm) + 0.0043 x Ag(g/t).

Figure 5. Cross section slice (C – C’) showing partial drill hole results DKP075 (± 75m clipping) and updated +0.2% copper (yellow), +0.3% copper (red), +0.4% copper (magenta) mineralisation interpolants. Returned Cu grades shown on hole traces, drilled holes with pending assays are shown in black. Conceptual open pit shells1 displayed for $US3.50/lb Cu (short dash) and $US6.00/lb Cu (long dash) displayed as dashed lines. Results reported including CuEq2.

1 See Page 11 of this announcement for detail on the US$3.50 Cu and US$6.00 Cu conceptual open pit shells (Exploration Targets). Any potential tonnage and grade of the Exploration Target shown is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource within the target area, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

2 Copper Equivalent (CuEq) reported for the drillhole intersections were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne × Cu_recovery) + (Mo ppm × Mo price per g/t × Mo_recovery) + (Au ppm × Au price per g/t × Au_recovery) + (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1% per tonne × Cu_recovery). The Metal Prices applied in the calculation were: Cu=4.50 USD/lb, Au=3,150 USD/oz, Mo=20 USD/lb, and Ag=30 USD/oz. The entirety of the intersection is assumed as fresh. The recovery and copper equivalent formula for La Verde uses Cortadera as a proxy, which is considered reasonable given both the similar mineralisation style and amenability testwork completed thus far at La Verde – Recoveries of 83% Cu, 56% Au, 83% Mo and 37% Ag. CuEq (%) = Cu(%) + 0.69 x Au(g/t) + 0.00044 x Mo(ppm) + 0.0043 x Ag(g/t).

Figure 6. Oblique slice towards NW (Azi 325°, Plunge+26°). 0.3% and 0.4% Cu interpolants displayed for oxide and transitional material, sliced along NNE orientation with the front removed. US$3.50/lb Cu conceptual open pit shell displayed in dark grey; US$6.00/lb Cu conceptual open pit shell displayed in light grey1. Base of weathering shown as dashed blue line. Results reported including CuEq2.

1 See Page 11 of this announcement for detail on the US$3.50 Cu and US$6.00 Cu conceptual open pit shells (Exploration Targets). Any potential tonnage and grade of the Exploration Target shown is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource within the target area, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

2 Copper Equivalent (CuEq) reported for the drillhole intersections were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne × Cu_recovery) + (Mo ppm × Mo price per g/t × Mo_recovery) + (Au ppm × Au price per g/t × Au_recovery) + (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1% per tonne × Cu_recovery). The Metal Prices applied in the calculation were: Cu=4.50 USD/lb, Au=3,150 USD/oz, Mo=20 USD/lb, and Ag=30 USD/oz. The entirety of the intersection is assumed as fresh. The recovery and copper equivalent formula for La Verde uses Cortadera as a proxy, which is considered reasonable given both the similar mineralisation style and amenability testwork completed thus far at La Verde – Recoveries of 83% Cu, 56% Au, 83% Mo and 37% Ag. CuEq (%) = Cu(%) + 0.69 x Au(g/t) + 0.00044 x Mo(ppm) + 0.0043 x Ag(g/t).

Qualifying Statements
Conceptual Open Pit Shells
Conceptual open pit shells represent Exploration Targets as defined in the 2012 Edition of the ‘Australasian
Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (JORC Code). They are
based on completed exploration activities reported in the announcement released 19 May 2025 (‘Hot Chili
Announces Latest Drill Results for La Verde, Doubling Porphyry Discovery Footprint’).

The conceptual open pit shells were generated using copper (Cu) prices of US$3.50/lb Cu and US$6.00/lb
Cu on a series of nested Cu grade shells. Other input parameters informing the conceptual open-pit shells
(pit slope angles, mining cost, processing cost, etc.) were derived from values reported in the March 2025
Costa Fuego Pre-Feasibility Study and are considered appropriate for the style of mineralisation encountered
at the La Verde Cu-Au porphyry discovery.

Any potential quantity and grade of the Exploration Target shown is conceptual in nature. There has been
insufficient exploration to estimate a Mineral Resource within the target area, and it is uncertain if further
exploration will result in the estimation of a Mineral Resource.

Further exploration activities are detailed in this announcement and include (but may not necessarily be
limited to) a program of diamond drillholes aiming to extend the mineralised footprint at La Verde. Drilling
commenced on 22 September 2025, with the length of the program dependent on a number of considerations
including (but not limited to) the results of the exploration activities and regulatory applications and approvals.

Qualified Person – NI 43-101
The technical information in this announcement has been reviewed and approved by Mr Christian Easterday,
MAIG, Hot Chili’s Managing Director and a qualified person within the meaning of National Instrument 43-101
– Standards of Disclosure for Mineral Projects. For further information, please refer to the Company’s
technical report titled “Costa Fuego Project, NI 43-101 Technical Report Preliminary Feasibility Study”, with
an effective date of 27 March 2025, a copy of which is available for review under the Company’s issuer profile
on SEDAR+ (www.sedarplus.ca).

Competent Person – JORC
The information in this announcement that relates to Exploration Results and Exploration Targets for the La
Verde project is based upon information compiled by Mr Christian Easterday, the Managing Director and a
full-time employee of Hot Chili Limited, who is a Member of the Australasian Institute of Geoscientists (AIG).
Mr Easterday has sufficient experience that is relevant to the style of mineralisation and type of deposits
under consideration and to the activity which he is undertaking to qualify as a ‘Competent Person’ as defined
in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and
Ore Reserves’ (JORC Code). Mr Easterday consents to the inclusion in this announcement of the matters
based on their information in the form and context in which it appears.

The information in this announcement relating to previously reported Exploration Results for La Verde was
previously reported in the Company’s announcements ‘Hot Chili Confirms Major Cu-Au Porphyry Discovery
at La Verde’, ’Hot Chili Announces Latest Drill Results for La Verde, Doubling Porphyry Discovery Footprint’,
‘District-Scale Porphyry Cluster Potential Emerging at La Verde Cu-Au Discovery’, ‘First Diamond Drillhole
Confirms Gold-Rich Major Copper Discovery in Coastal Chile’, ‘Near-Surface Higher-Grade Core Confirmed
at La Verde’, ‘Rapid Growth of High Grade Core Continues at La Verde’, ‘Shallow High Grade Results
Continue at La Verde’, ‘Hot Chili Confirms Major High-Grade Extension at La Verde’, ‘Latest Drilling Lifts HG
Core Potential of La Verde’, ‘Strong Copper-Gold Results Continue at La Verde’, ‘La Verde Emerging as
Cornerstone Asset for HCH’, and ‘Hot Chili Delivers More Copper-Gold at La Verde’ released to ASX on 26
February 2024, 19 May 2025, 29 May 2025, 27 November 2025, 10 December 2025, 20 January 2026, 16

The post Thick, High-Grade, Surface Enrichment Zone Extends at La Verde appeared first on Capital 10X.

Ecora is a leading critical minerals focused royalty and streaming company. Copper is at the core of the portfolio which also includes other commodities linked to the trend of electrification, energy transition, infrastructure renewal and urbanisation, digital infrastructure, robotics and energy security. 

Marc Bishop Lafleche, Chief Executive Officer of Ecora, commented:

“Ecora’s strong first-half performance builds on the momentum established in 2025. The core critical minerals portfolio delivered another record performance, further demonstrating its underlying cash generation potential, with revenue growth converting to a significant increase in adjusted earnings growth, highlighting the scalability of the royalty model. Strong cash generation is expected to continue to drive deleveraging in the second half of 2026, with the additional benefit of commodity price tailwinds should the price of copper, and other key commodity exposures, remain at or above current levels.

“Looking forward, a number of our operating partners are targeting near-term milestones which are expected to advance the next wave of organic growth in our portfolio. Within the base metals portfolio, the evaluation of brownfield expansion opportunities are being progressed at Voisey’s Bay and Mantos Blancos, alongside the greenfield Santo Domingo project that is moving towards Final Investment Decision. Elsewhere, a Definitive Feasibility Study on the Phalaborwa rare earths project continues to progress towards completion.

“This combination of strong cash generation, commodity price tailwinds, deleveraging, potential key derisking milestones underpinned by a positive fundamental outlook for copper and other critical minerals, gives us great confidence in the near and long-term outlook for Ecora.”

Financial highlights:

·    Total portfolio contribution increased 75% to $31.3m (H1 2025: $17.9m) with royalty and metal stream related revenue increasing 102% to $32.0m (H1 2025: $15.8m)

·    159% increase in base metals portfolio contribution to $22.5m (H1 2025: $8.7m)

·    509% increase in adjusted earnings to $19.5m (H1 2025: $3.2m)

·    Adjusted earnings per share of 7.81c (H1 2025: 1.27c)

·    Profit before tax of $24.3m (H1 2025: loss $10.9m)

·    Free cash flow of $12.1m (H1 2025: $2.0m)

·    Net debt decreased to $74.9m as at 30 June 2026 (31 December 2025: $85.5m), and down from $124.6m as at 30 June 2025

·    Interim dividend of 1.90 cents per share, equating to ~ 25% of free cash flow (H1 2025: 0.60 cents per share)

Portfolio Highlights:

Base metals

Producing

• Voisey’s Bay (cobalt):

o 266 tonnes of cobalt received (H1 2025: 140 tonnes)

o Ramp-up of operations to full production capacity largely completed

o Portfolio contribution net of stream costs up 230% to $13.5m (H1 2025: $4.1m)

o Average sales price realisation in H1 of $28.4/lb (H1 2025: $16.5/lb)

o As part of its analyst and investor tour to Voisey’s Bay in June, Vale Base Metals published materials that referenced several growth areas at Voisey’s Bay, including:

• plans to expand mill capacity from ~2.8 Mtpa to ~3.8 Mtpa by 2030

• pre-feasibility study ongoing with an FID targeted by 2028

o 2026 exploration program (underground drilling of 48,695m and surface drilling of 26,500m) focused on:

• near-term mine plan optimization

• long-term underground resource growth to potentially support life of mine extension

o Two-week planned annual maintenance scheduled at the Voisey’s Bay processing plant and Long Harbour refinery during Q3 2026 and Q4 2026 respectively 

• Mantos Blancos (copper):

o Portfolio contribution up 26% to $4.8m (H1 2025: $3.8m)

o Payable copper volumes of 23.4 kt (H1 2025: 26.3 kt) were lower than the corresponding period in 2025 due to lower sulphide feed grades and lower recoveries driven by the planned mine sequence, more than offset by higher realised copper prices during H1 2026 of $5.92/lb (H1 2025: $4.33/lb)

o Capstone Copper (Capstone) is targeting the publication of the Mantos Blancos Phase II expansion Pre-Feasibility Study (PFS), outlining the details of increased throughput from the concentrator plant and increased cathode production via historical tailings re-leaching, toward the end of 2026, and is targeting expanded production to commence between 2030 and 2031

• Mimbula (copper):

o Portfolio contribution net of stream costs of $3.7m (H1 2025: $0.5m)

o Phase II expansion project continues to advance, with the commissioning of additional solvent extraction (SX) capacity commencing in June 2026

o Project focus now moves to the construction of the ETL circuit and additional EW cells

Near production and development stage

• Santo Domingo (copper):

o Capstone continues to advance the remaining workstreams towards a final investment decision (FID) on Santo Domingo, expected in Q4 2026. The remaining workstreams include:

• Advancing detailed engineering towards the target of 60% completion

• Evaluating district infrastructure optimization opportunities; and

• Securing financing for the project

o Capstone also progressed copper production upside projects with the 2026 exploration drill programme of 54,700m, 52% complete, targeting delineation of oxide minerals at the top of Santo Domingo and Estrellita sulphide orebodies

• Nifty (copper):

o Cyprium Metals Ltd (Cyprium) advanced the project towards the commencement of copper cathode production (Phase 1 Restart) of ~6,000 tpa, targeted for H2 2026

o Work continues in parallel to expand production to ~20,000 tpa through refurbishment of the SXEW plant

o Evaluation of the shallow oxide material has also advanced and on completion of this work Cyprium expects to update Mineral Resources & Ore Reserves estimates for the Nifty Copper Complex during the second half of 2026

o Royalty payments to Ecora are not triggered until cumulative 800 kt of copper has been produced from the mine. Taking into account historical copper production, this threshold is not expected to be reached until at least 5 years from production restarting

• Cañariaco (copper):

o In March, Fortescue Ltd. completed the acquisition of the remaining 64% of Alta Copper Corp. shares not already owned by Fortescue. Alta Copper is the 100% owner of the Cañariaco copper project in Peru over which Ecora holds a 0.5% NSR royalty

o Expected average annual production for the first ten years of 158 ktpa of copper, 70 koz of gold and 1.5 Moz of silver

Specialty metals & uranium

Producing

• McClean Lake (uranium)

o Portfolio contribution of $1.3m (H1 2025: $2.2m)

o Throughput at the McClean Lake Mill totalled 8.1Mlbs (H1 2025: 10.1Mlbs), the reduction compared to H1 2025 was driven by the timing of the annual maintenance outage which occurred in Q2 2026 compared to Q3 in 2025

o Subsequent to the period end, production at Cameco’s Cigar Lake mine, which feeds the McClean Lake Mill, was suspended for two weeks due to operational challenges at the McClean Lake Mill. The Cigar Lake mine production outlook remains unchanged at 17.5-18.0 Mlbs

• Maracás Menchen (vanadium)

o Portfolio contribution of $1.2m (H1 2025: $0.8m)

o Vanadium sales subject to the royalty in the period totalled 9.5 Mlbs (H1 2025: 6.5 Mlbs) reflecting operational improvement at the Maracás Menchen mine

o In July, Largo Inc agreed a $60.1 million delivery order from the U.S. Defense Logistics Agency Strategic Materials under a five-year contract. The order supports the supply of high-purity vanadium products and reinforces the Company’s strategic role in U.S. critical mineral supply chains

o Brazilian origin vanadium oxide and hydroxide products were expressly included on the published exemption list with respect to Section 301 tariffs announced on 15 July 2026 applicable to certain products of Brazil imported to the USA

o In August, Largo announced the agreement of a binding term sheet to refinance $82 million of commercial bank debt, with an extended maturity profile to 2030

o The average realised sales price for royalty payments was $7.56/lb (H1 2025: $7.47/lb)

Development and early stage

• Phalaborwa (rare earths)

o Rainbow Rare Earths (Rainbow) announced a share issuance in March raising £11.1m (~$14.6m) with proceeds to fund the completion of the Phalaborwa Definitive Feasibility Study (DFS) amongst other uses

o On 1 July, Rainbow announced that its Phalaborwa test work and pilot plant operations have optimised and simplified the flowsheet, with 75% now in the engineering phase of the definitive feasibility study with final optimisation of the solvent extraction underway

• Patterson Corridor East (uranium)

o NexGen Energy (Nexgen) continues to report outstanding results from the drilling programme at Patterson Corridor East (PCE)

o The mineralised footprint at PCE and high-grade sub-domain has expanded over the period and is open in nearly all directions. NexGen are continuing to advance their 2026 drill campaign over H2 2026 with the addition of a 5th drill rig

Bulks & other

Producing

• Kestrel (steelmaking coal)

o Mining activity at Kestrel returned to the Group’s private royalty area at the end of the period, with 100 kt of saleable volumes registered

o Operations are expected to remain in the Group’s private royalty area throughout Q3, with FY 2026 total saleable volume guidance remaining unchanged at 1.0 mt – 1.1 mt

Outlook

• Critical minerals portfolio set to continue year-on-year volume growth during the second half of the year, currently benefiting from strong copper and other commodity price tailwinds

• Operator partners are targeting a number of key development milestones including:

o Santo Domingo (FID),

o Mantos Blancos (publication of Phase II PFS),

o Phalaborwa (publication of DFS); and

o Nifty (Cathode production restart)

• Portfolio cashflows expected to drive further debt reduction during H2, providing balance sheet flexibility to fund further royalty and stream acquisitions that meet Ecora’s investment criteria

Analyst presentation

A live webcast of the presentation including Q&A will be held today at 2:00pm BST for investors and analysts and will be available via our website at www.ecoraroyalties.com or on https://brrmedia.news/ECOR_HY26.

This will be available for playback after the event.

Please join the event 5-10 minutes prior to the scheduled start time.

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