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Trump family’s American Bitcoin makes stock market debut

Business 5 Mins Read

Shares in the Trump family’s latest cryptocurrency made its stock market debut Wednesday, triggering more ethical concerns as the Trumps look to cash in on crypto as the president’s administration weakens regulations for the nascent industry.

American Bitcoin, a firm co-founded this spring by Eric Trump, the president’s son, saw its share price climb as much as 39% by early afternoon to about $9.60.

It ended the day at $8.04, lower than its opening price of $9.22.

According to a release, the company is set up to accumulate bitcoin through computer “mining” of the cryptocurrency, as well as “opportunistic bitcoin purchases.” By owning a share of American Bitcoin, investors are betting that the company will be able to grow its bitcoin holdings faster than competitors. It also assumes bitcoin’s price will keep going up.

American Bitcoin’s stock debut is renewing ethics concerns about the Trump family’s ability to benefit from the president’s influence on the crypto industry, where it is increasingly seeing windfalls.

On Monday, the first public sales of a digital token minted by World Liberty Financial, a crypto firm co-founded by the Trump family, created as much as $5 billion in paper wealth for them and other insiders based on existing holdings. Last week, Trump Media and Technology Group, the parent company of President Donald Trump’s Truth Social platform, announced it had struck a deal with Crypto.com to accumulate Crypto.com’s native token Cronos, or CRO. Since the announcement, the value of CRO has climbed about 69%.

Shortly before 1 p.m, the value of Eric Trump’s American Bitcoin stake had climbed to as much as $600 million, according to calculations by Bloomberg News. Donald Trump Jr. also owns a stake, though its extent was not immediately clear. A representative for Trump Jr. did not respond to a request for comment.

“There’s no question there’s a conflict of interest here,” said Virginia Canter, chief counsel for ethics and anticorruption with the Democracy Defenders Action group, a bipartisan advocacy group that seeks to oppose authoritarianism. Canter served as a legal adviser in four different presidential administrations. Beyond having the ability to appoint regulators charged with overseeing the crypto industry, Trump can also create an uneven playing field for other crypto market participants who might believe they may pay a price for competing with his entities — or failing to engage with them, Canter said.

In a post on X last night, Sen. Elizabeth Warren, D-Mass., said of the start of American Bitcoin’s stock trading: “it’s corruption, plain and simple.”

A representative for the Trump Organization did not respond to a request for comment about the ethics concerns.

Estimates about how much President Trump and his family have earned from their crypto ventures vary. Reuters calculated that they made as much $500 million from the World Liberty decentralized finance platform, which debuted last year.

The figure is a moving target. In May, Zach Witkoff, a World Liberty co-founder and the son of White House Middle East envoy Steve Witkoff, announced that an Abu Dhabi-based firm had purchased $2 billion-worth of World Liberty’s stablecoin as part of an investment in the Binance crypto exchange. In July, Trump Media announced it had accumulated roughly $2 billion in bitcoin and related assets, accounting for about two-thirds of Trump Media’s total liquid assets. The Donald J. Trump Revocable Trust, a financial instrument Trump created in advance of returning to the Oval Office, owns 52% of Trump Media.

The group that created Trump’s memecoin, $TRUMP, earned $350 million from initial sales, the Financial Times reported in March, though its ownership structure and Trump family members’ direct stakes are unclear.

The White House has maintained that the president is not involved in the day-to-day affairs of Trump family businesses. Some ethics experts have argued that presidents are exempt from conflict-of-interest laws because they oversee too many areas to make enforcement practical.

In a statement, the White House blasted any insinuation of a conflict of interest.

“The media’s continued attempts to fabricate conflicts of interest are irresponsible and reinforce the public’s distrust in what they read,” White House press secretary Karoline Leavitt said. “Neither the President nor his family have ever engaged, or will ever engage, in conflicts of interest.” She said the administration “is fulfilling the President’s promise to make the United States the crypto capital of the world by driving innovation and economic opportunity for all Americans.”

At a conference last week, Eric Trump said the bitcoin community had embraced his father “unlike anything I had ever seen before.” Since then, the crypto industry has become one of the most influential players in politics: Its super PAC, Fairshake, was the largest-single donor group during the 2024 election and has already accumulated $140 million in advance of next year’s midterms, Politico reported.

The Trump brothers have announced a flurry of business moves since their father took office that parallel the president’s policies and agenda. Last month, they announced they would serve as advisers to New America, a firm that aims to buy businesses that “play a meaningful role in revitalizing domestic manufacturing, expanding innovation ecosystems, and strengthening critical supply chains.”

The brothers are receiving a combined 5 million shares in the company, which seeks to raise $300 million from investors in advance of going public.

This post appeared first on NBC NEWS

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Apple has survived Trump’s tariffs so far. It might raise iPhone prices anyway.

Business 7 Mins Read

When Tim Cook gifted President Donald Trump a gold and glass plaque last month, the Apple CEO was hailed by Wall Street for his job managing the iPhone-maker’s relationship with the White House.

Cook, Wall Street commentators said, had largely navigated the threat of tariffs on Apple’s business successfully by offering Trump an additional $100 billion U.S. investment, a win the president could tout on American manufacturing. But despite the 24-carat trophy Cook handed Trump, the true costs of those tariffs may finally show up for Apple customers later this month.

“Thank you all, and thank you President Trump for putting American innovation and American jobs front and center,” Cook said at the event, which brought Apple’s total planned spend to $600 billion in the U.S. over the next five years. Trump, at the event, said that Apple would be exempt from forthcoming tariffs on chips that could double their price.

But as Apple prepares to announce new iPhones on Tuesday, some analysts are forecasting the company to raise prices on its devices even after all Cook has done to avoid the worst of the tariffs.

“A lot of the chatter is: Will the iPhone go up in price?” said CounterPoint research director Jeff Fieldhack.

Although smartphones haven’t seen significant price increases yet, other consumer products are seeing price increases driven by tariffs costs, including apparel, footwear, and coffee. And the tariffs have hit some electronics, notably video games — Sony, Microsoft and Nintendo, have raised console prices this year in the U.S.

Some Wall Street analysts are counting on Apple to follow. Jeffries analyst Edison Lee baked in a $50 price increase into his iPhone 17 average selling price projections in a note in July. He’s got a hold rating on Apple stock.

Goldman Sachs analysts say that the potential for price increases could increase the average selling price of Apple’s devices over time, and the company’s mix of phones have been skewing toward more expensive prices.

Analysts expect Apple to release four new iPhone models this month, which will likely be named the “iPhone 17” series. Last year, Apple released four iPhone 16 models: the base iPhone 16 for $829, the iPhone 16 Plus at $899, the iPhone 16 Pro at $999 and the iPhone 16 Pro Max at $1,199.

This year, many supply chain watchers expect Apple to replace the Plus model, which has lagged the rest of the lineup, with a new, slimmer device that trades extra cameras and features for a thinner, lighter body.

The “thinner, lighter form factor may drive some demand interest,” wrote Goldman analysts, but tradeoffs like battery life may make it hard to compete with Apple’s entry-level models.

Analysts have said they expect the slim device to cost about $899, similar to how much the iPhone 16 Plus costs, but they haven’t ruled out a price bump. That would still undercut Samsung’s thin Galaxy Edge, which debuted earlier this year at $1,099.

Apple did not respond to a request for comment.

When Trump announced sweeping tariffs on China and the rest of the world in February, it seemed like Apple was in the crosshairs.

Apple famously makes the majority of its iPhones and other products in China, and Trump was threatening to place tariffs that could double Apple’s costs or more. Some of Trump’s so-called “reciprocal” tariffs would hit countries like Vietnam and India where Apple had hedged its production bets.

But seven months later, Apple has weathered the tariffs better than many had imagined.

The U.S. government has paused the most draconian Chinese tariffs several times, smartphones got an exemption from tariffs and Cook in May told investors that the company was able to rearrange its supply chain to import iPhones to the U.S. from India, where tariffs are lower.

Cook also successfully leaned on his relationship with Trump, visiting him in White House and taking his side in August, when Cook presented the shiny keepsake to Trump. That commitment bolstered Trump’s push to bring more high-tech manufacturing to the U.S. In exchange, Trump said he would exempt Apple from a forthcoming semiconductor tariff, too. And Trump’s IEEPA tariffs were ruled illegal in late August, although they are still in effect.

Apple hasn’t completely missed the tariff consequences. Cook said the company spent $800 million on tariff costs in the June quarter, mainly due to the IEEPA-based tariffs on China. That was less than 4% of the company’s profit, but Apple warned it could spend $1.1 billion in the current quarter on tariff expenses.

After months of eating the tariff costs itself, Apple may finally pass those costs to consumers with this month’s launch of the iPhone 17 models.

Apple has been judicious about hardware price increases in the U.S. The smaller Pro phone, for example, hasn’t gotten a price increase since its debut in 2017, holding at $999. But Apple has made some price changes.

The company raised the price of its entry level phones from $699 to $829 in 2020. And in 2022 when Apple eliminated the smaller iPhone Mini that started at $699, the company replaced it with the bigger-screen Plus that costs $899. The Pro Max also got a hike in 2023 when Apple bumped it from $1,099 to its current price of $1,199.

If Apple does increase prices on its phones this year, don’t expect management to blame tariffs.

The average selling price of smartphones around the world is rising, according to IDC. The price of smartphone components, such as the camera module and chips, have been increasing in recent years.

Apple is much more likely to focus on highlighting its phones’ new features and quietly note the new price. Analysts expect the new iPhones to have larger screens, increased memory and new, faster chips for AI.

“No one’s going to come out and say it’s related to tariffs,” said IDC analyst Nabila Popal.

One way that Apple could subtly raise prices is by eliminating the entry-level version of its phones, forcing users to upgrade to get more storage at a higher starting price. Apple typically charges $100 to double the amount of the iPhone’s storage from 128GB to 256GB.

That’s what JPMorgan analysts expect Apple to announce next week.

They forecast that Apple will leave the prices of the entry level and high-end Pro Max models alone, but they wrote that they expect the company to eliminate the entry-level version of the Pro, meaning that users will have to pay $1,099 for an iPhone 17 Pro that has more starting-level storage than its predecessor. That’s how Apple raised the price of the entry-level Pro Max in 2023.

“However, with Apple’s recent announcements relative to investments in US, the assumption is that the company will largely be shielded from tariffs, driving expectations for limited pricing changes except for those associated with changes in the base storage configuration for the Pro model,” wrote JP Morgan analyst Samik Chatterjee.

When Cook was asked about potential Apple price increases on an earnings call in May, he said there was “nothing to announce.”

“I’ll just say that the operational team has done an incredible job around optimizing the supply chain and the inventory,” Cook said.

This post appeared first on NBC NEWS

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Paramount mandates 5-day-a-week return to office ahead of major cost cuts

Business 2 Mins Read

David Ellison continues to put his stamp on Paramount after its acquisition by Skydance.

The CEO and chairman told employees Thursday that they will be expected to work in the office five days a week starting Jan. 5, 2026, according to a memo obtained by CNBC. Employees who do not wish to make the transition can seek a buyout starting Thursday and until Sept. 15.

“To achieve what we’ve set out to do — and to truly unlock Paramount’s full potential — we must make meaningful changes that position us for long-term success,” Ellison wrote to staffers. “These changes are about building a stronger, more connected, and agile organization that can deliver on our goals and compete at the highest level. We have a lot to accomplish and we’re moving fast. We need to all be rowing in the same direction. And especially when you’re dealing with a creative business like ours, that begins with being together in person.”

The move could help Paramount thin the herd ahead of looming staffing cuts.

Variety reported last month that the company is expected to lay off between 2,000 and 3,000 employees as part of its postmerger cost-cutting measures. These cuts are slated for early November, Variety reported.

Paramount is looking to take $2 billion in costs out of the conglomerate amid advertising losses and industrywide struggles with traditional cable networks.

Phase one of Ellison’s back-to-work plan will see employees in Los Angeles and New York returning to a full five-day workweek in the new year.

Phase two will focus on offices outside LA and New York, including international locations. A similar buyout program will be offered in 2026 for those who operate in these locations.

“We recognize this represents a significant change for many, and we’re committed to supporting you throughout this transition,” Ellison wrote. “We will work closely with managers to ensure you have the time and flexibility to make the necessary adjustments.”

This post appeared first on NBC NEWS

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Blackrock Silver Receives 4.24 Million Dollars from Warrant Exercises and Upsizes Eastern Resource Expansion Drill Program at Tonopah West

Investing 6 Mins Read

Blackrock Silver Corp. (TSXV: BRC,OTC:BKRRF) (OTCQX: BKRRF) (FSE: AHZ0) (‘Blackrock’ or the ‘Company’) is pleased to announce the receipt of an aggregate total of C$ $4,244,838.89 in cash proceeds from the exercise of 9,830,880 previously issued common share purchase warrants of the Company (‘Warrants’) since July 8, 2025.

After including the common shares (‘Common Shares‘) of the Company issued as a result of such Warrant exercises, there are a total of 325,490,026 Common Shares issued and outstanding as of the date hereof.

A total of 5,733,000 Warrants issued on August 30,2022 with an exercise price of C$0.75 per share expired unexercised on September 2, 2025.

The Company is also pleased to announce the addition of 7 drillholes to its previously announced eastern expansion drill program (the ‘Eastern Expansion Program‘) at its Tonopah West mineral project located in Nye and Esmeralda Counties, Nevada, United States (‘Tonopah West‘), targeting the 1.2 kilometre Eastern Expansion zone between the DPB resource area and the eastern extent of Tonopah West (see July 21, 2025 news release). With the inclusion of the additional 7 drillholes, the Eastern Expansion Program consists of a total of 22 drillholes and up to 7,000 metres (23,000 feet) of drilling. A total of 19 drillholes have been completed to date and are pending assay results.

Andrew Pollard, Blackrock’s President and Chief Executive Officer, stated, ‘The C$4.24 million from warrant exercises has strengthened our treasury, positioning us to continue advancing Tonopah West aggressively towards development. Drilling on our Eastern Resource Expansion program is progressing rapidly, with 19 of 22 holes already completed. Our updated mineral resource estimate remains on track for early September 2025, aimed at upgrading a portion of the DPB-South inferred resources to higher confidence categories to help de-risk the early years of our conceptual mine plan. A further resource update, focused on extending mine life, is scheduled for Q1 2026. With a robust treasury, assays pending, and multiple mineral resource updates in view, we are well positioned to close out 2025 with strong momentum as we continue to de-risk and advance the Tonopah West project.’

Qualified Persons

Blackrock’s exploration activities at Tonopah West are conducted and supervised by Mr. William Howald, Executive Chairman of Blackrock. Mr. William Howald, AIPG Certified Professional Geologist #11041, is a Qualified Person as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects. He has reviewed and approved the contents of this news release.

About Blackrock Silver Corp.

Backed by gold and silver ounces in the ground, Blackrock is a junior precious metal focused exploration and development company driven to add shareholder value. Anchored by a seasoned Board of Directors, the Company is focused on its 100% controlled Nevada portfolio of properties consisting of low-sulphidation, epithermal gold and silver mineralization located along the established Northern Nevada Rift in north-central Nevada and the Walker Lane trend in western Nevada.

Additional information on Blackrock Silver Corp. can be found on its website at www.blackrocksilver.com and by reviewing its profile on SEDAR+ at www.sedarplus.ca.

Cautionary Note Regarding Forward-Looking Statements and Information

This news release contains ‘forward-looking statements’ and ‘forward-looking information’ (collectively, ‘forward-looking statements‘) within the meaning of Canadian and United States securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements in this news release relate to, among other things: the use of proceeds from the exercise of Warrants; advancement toward development of Tonopah West; the Company’s aim to upgrade significant tonnage from inferred mineral resources to measured and indicated mineral resources at Tonopah West to help de-risk the early years of the conceptual mine plan; the anticipated results from the Eastern Expansion Program; the expected timing of completion of the Company’s updated mineral resource estimates on Tonopah West; the Company’s strategic plans; the enhancement of the exploration potential of Tonopah West; the Company’s focus on adding additional mine life to Tonopah West; and geological information projected from sampling results.

These forward-looking statements reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include, among other things: conditions in general economic and financial markets; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services; future operating costs; the historical basis for current estimates of potential quantities and grades of target zones; the availability of skilled labour and no labour related disruptions at any of the Company’s operations; no unplanned delays or interruptions in scheduled activities; all necessary permits, licenses and regulatory approvals for operations are received in a timely manner; the ability to secure and maintain title and ownership to properties and the surface rights necessary for operations; and the Company’s ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.

The Company cautions the reader that forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data; general market and industry conditions; and those factors identified under the caption ‘Risks Factors’ in the Company’s most recent Annual Information Form.

Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

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

For Further Information, Contact:

Andrew Pollard
President and Chief Executive Officer
(604) 817-6044
info@blackrocksilver.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/265078

News Provided by Newsfile via QuoteMedia

This post appeared first on investingnews.com

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ICMM: These 3 Nations Control Nearly Half the World’s Mining Footprint

Investing 4 Mins Read

The world’s mining industry may be spread across over 150 countries, but new data reveals that almost half of all large-scale mining and processing facilities are concentrated in just three: China, Australia and the US.

That’s according to the International Council on Mining and Metals’ (ICMM) Global Mining Dataset report. Released on Wednesday (September 3), it is a sweeping compilation of 15,188 mines and processing plants.

According to ICMM, 45 percent of all mines, smelters, refineries and steel plants are clustered in China, Australia and the US — an uneven distribution that has key implications for supply chains and the pace of the clean energy transition.

“ICMM’s foundational Dataset shows that over 75 percent of national economies have at least some connection to large-scale mining or mineral processing,” said Rohitesh Dhawan, ICMM’s president and CEO.

“Having a global view of the location, type, commodity and footprint of these facilities is essential to inform the right public and policy debates for this critical sector. With minerals and metals at the heart of the energy transition and geopolitical shifts, robust, global, industry-wide data has never been more critical,’ he added in a press release.

The dataset identifies 12,876 mines, 1,980 standalone processing facilities and 332 co-located sites where extraction and processing happen together. As mentioned, while operations stretch across more than 150 countries, ICMM’s analysis shows that China in particular dominates the processing stage of the supply chain.

ICMM records 426 metallurgical facilities in China — by far the most worldwide — compared with 120 in the US, 87 in India and 65 in Brazil. That asymmetry between mining and refining presents a challenge facing local supply chains.

While resource deposits are scattered globally, the industrial capacity to convert ores into usable metals is more centralized and heavily tilted toward China. Europe, for instance, suffers from this vulnerability. Despite having strong demand from its automotive, aerospace and electronics industries, the continent’s mining base has shrunk.

What’s more, the dataset shows a greater density of metallurgical facilities in Europe compared with mines.

This imbalance is not limited to Europe. Across the globe, many economies have significant mineral deposits, but lack the facilities to process them. This structural gap cements the dominance of China, which has invested heavily in refining capacity and controls much of the midstream in critical minerals supply chains.

Coal remains dominant

Although the dataset highlights the role of critical minerals in the energy transition, it also shows that coal remains the single most common mined commodity by number of facilities. Coal accounts for a whopping 42 percent of all mines, followed by gold at 17 percent, copper at 12 percent and iron ore at 9 percent.

The prevalence of coal mines contrasts with global climate goals, but also reflects the legacy infrastructure of energy systems and the uneven pace of transition. Overall, Asia hosts the largest number of coal, copper and iron ore mines, while North and Central America contain the highest number of gold mines.

Playing the long game

ICMM stresses that the release of the dataset is the first step in a multi-year effort to improve transparency and support evidence-based policymaking in the resource sector. Alongside the full dataset, which draws on proprietary sources, ICMM has published a public version covering 8,508 facilities.

Dhawan said the council hopes the data will “continue to expand and improve through partnerships,” while building on key sustainability indicators in the coming months. More crucially, industry observers have long criticized the scarcity of comprehensive, public data on the sector. Without standardized information, they argue, it is difficult to evaluate the social and environmental impacts of mining or even craft effective regulations.

ICMM believes its initiative, though still limited by licensing restrictions on some proprietary datasets, represents one of the most ambitious attempts to date to assemble a global picture of the industry. The council said it will work with partners to expand the dataset and incorporate indicators on sustainability performance.

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

This post appeared first on investingnews.com

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Osisko Intersects 1117.5 Metres Averaging 0.25% Cu at Gaspé

Investing 13 Mins Read

Osisko Metals Incorporated (the ‘ Company or ‘ Osisko Metals ‘) ( TSX: OM,OTC:OMZNF ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) is pleased to announce new drill results from the Gaspé Copper Project, located in the Gaspé Peninsula of Eastern Québec.

Osisko Metals Chief Executive Officer Robert Wares commented: ‘ Drill hole 30-1097 produced our longest intersection so far, returning 1117 metres of continuous mineralization from the top of Copper Mountain, located in the heart of the deposit. With 10 drills on site, we have completed over 65,000 metres of the drill program to date, and will continue the current program of infill and expansion drilling until December. The updated MRE is well on track to be released in Q1 2026. ‘

New analytical results are presented below (see Table 1), including 19 mineralized intercepts from 6 new drill holes. Infill intercepts are located inside the 2024 MRE model ( see November 14, 2024 news release ), and are focused on upgrading inferred mineral resources to measured or indicated categories, as applicable. Expansion intercepts are located outside the 2024 MRE model and may potentially lead to additional resources that will be classified appropriately within the next MRE update. Some of the reported intercepts have contiguous shallower infill as well as deeper expansion (noted on Table 1 below as ‘Both’). Maps showing hole locations are available at www.osiskometals.com .

Highlights:

  • Drill hole 30-1097
    • 1117.5 metres averaging 0.25% Cu (infill and expansion)
  • Drill hole 30-1100
    • 228.5 metres averaging 0.25% Cu (infill and expansion)
  • Drill hole 30-1101
    • 148.5 metres averaging 0.32% Cu (infill)
  • Drill hole 30-1104
    • 792.0 metres averaging 0.20% Cu (infill and expansion)
  • Drill hole 30-1105
    • 110.5 metres averaging 0.20% Cu (infill)
    • 288.0 metres averaging 0.19% Cu (expansion)

Table 1: Infill and Expansion Drilling Results

DDH No. From (m) To (m) Length (m) Cu % Ag g/t Mo % CuEq* Type**
30-1097 87.0 1204.5 1117.5 0.25 1.81 0.022 0.35 Both
(including) 87.0 778.5 691.5 0.24 2.05 0.019 0.33 Infill
(including) 778.5 1204.5 426.0 0.27 1.42 0.028 0.38 Expansion
30-1100 81.0 119.0 38.0 0.15 1.11 0.16 Infill
And 137.0 180.0 43.0 0.25 1.64 0.013 0.31 Infill
And 322.5 551.0 228.5 0.25 1.61 0.013 0.31 Both
And 677.8 805.0 127.2 0.15 0.82 0.012 0.20 Expansion
And 862.8 974.5 111.7 0.17 1.24 0.010 0.22 Expansion
30-1101 58.0 111.0 53.0 0.24 5.21 0.27 Infill
And 156.0 304.5 148.5 0.32 2.52 0.34 Infill
And 493.5 521.2 27.7 0.36 1.85 0.37 Expansion
30-1102 516.0 567.0 51.0 0.36 3.62 0.38 Expansion
And 781.5 858.0 76.5 0.03 0.19 0.077 0.32 Expansion
And 880.5 930.0 49.5 0.46 2.81 0.48 Expansion
30-1104 4.5 32.0 27.5 0.12 0.48 0.12 Infill
And 54.0 85.0 31.0 0.14 0.66 0.14 Infill
And 177.0 969.0 792.0 0.20 1.33 0.015 0.26 Both
(including) 177.0 567.5 390.5 0.18 1.49 0.013 0.23 Infill
(including) 567.5 969.0 401.5 0.22 1.17 0.017 0.29 Expansion
30-1105 16.0 79.0 63.0 0.19 1.94 0.20 Infill
And 122.0 232.5 110.5 0.20 1.30 0.21 Infill
And 261.8 355.5 93.7 0.25 1.72 0.009 0.30 Both
And 378.0 666.0 288.0 0.19 2.03 0.012 0.25 Expansion

* See explanatory notes below on copper equivalent values and Quality Assurance/Quality Controls.
** ‘Both’ indicates drill holes that have contiguous shallower infill as well as deeper expansion intercepts.

Discussion

Drill hole 30-1097, located on top of Copper Mountain near the central part of the 2024 MRE model, intersected 1117.5 metres averaging 0.25% Cu, 0.022% Mo, and 1.81 g/t Ag that included expansion at depth of 426.0 metres averaging 0.27% Cu, 0.028% Mo, and 1.42 g/t Ag. This hole extends mineralization near the centre of the deposit to a vertical depth of 1,204 metres.

Drill hole 30-1100, near the southwestern margin of the 2024 MRE model, intersected five separate mineralized intervals, including 228.5 metres averaging 0.25% Cu, 0.013% Mo, and 1.61 g/t Ag (infill and expansion). This was followed by 127.2 metres averaging 0.15% Cu, 0.012% Mo, and 0.82 g/t Ag and then by another 111.7 metres averaging 0.17% Cu, 0.010% Mo, and 1.24 g/t Ag (both expansion), extending mineralization to a vertical depth of 975 metres.

Drill holes 30-1101 and 30-1102, both located near the eastern margin of the 2024 MRE model, intersected several, relatively short mineralized intervals that were 27 to 76 metres long, with the exception of one 148.5 metre interval (30-1101) that averaged 0.32% Cu and 2.52 g/t Ag (infill). These holes, along with several other previously reported holes, confirm the currently defined eastern margin of the 2024 MRE model.

Drill hole 30-1104, located near the west-central portion of the 2024 MRE model, intersected two short (28 and 31 metres) intervals followed by 792.0 metres averaging 0.20% Cu, 0.015% Mo and 1.33 g/t Ag that included expansion at depth of 401.5 metres averaging 0.22% Cu, 0.017% Mo, and 1.17 g/t Ag. This hole extends mineralization in this area to a vertical depth of 969 metres.

Drill hole 30-1105, located in the southwestern portion of the 2024 MRE model, intersected 110.5 metres averaging 0.20% Cu and 1.30 g/t Ag (infill), followed by 93.7 metres averaging 0.25% Cu and 1.72 g/t Ag (infill and expansion), followed by a third intersection of 288.0 metre averaging 0.19% Cu, 0.012% Mo, and 2.03 g/t Ag (expansion), extending mineralization to a vertical depth of 666 metres.

Mineralization at Gaspé Copper is of porphyry copper/skarn type and occurs as disseminations and stockworks of chalcopyrite with pyrite or pyrrhotite and minor bornite and molybdenite. At least five retrograde vein/stockwork mineralizing events have been recognized at Copper Mountain, which overprint earlier prograde skarn and porcellanite-hosted mineralization throughout the Gaspé Copper system. Porcellanite is a historical mining term used to describe bleached, pale green to white potassic-altered hornfels. Subvertical stockwork mineralization dominates at Copper Mountain whereas prograde bedding-replacement mineralization, that is mostly stratigraphically controlled, dominates in the area of Needle Mountain, Needle East, and Copper Brook. High molybdenum grades (up to 0.5% Mo) were locally obtained in both the C Zone and E Zone skarns away from Copper Mountain.

The 2022 to 2024 Osisko Metals drill programs were focused on defining open-pit resources within the Copper Mountain stockwork mineralization ( see May 6, 2024 MRE press release ). Extending the resource model south of Copper Mountain into the poorly-drilled prograde skarn/porcellanite portion of the system subsequently led to a significantly increased resource, mostly in the Inferred category ( see November 14, 2024 MRE press release ).

The current drill program is designed to convert the November 2024 MRE to Measured and Indicated categories, as well as test the expansion of the system deeper into the stratigraphy and laterally to the south and southwest towards Needle East and Needle Mountain respectively. The November 2024 MRE was limited at depth to the base of the L1 skarn horizon (C Zone), and all mineralized intersections below this horizon represent potential depth extensions to the deposit, to be included in the next scheduled MRE update in Q1 2026.

All holes are being drilled sub-vertically into the altered calcareous stratigraphy which dips 20 to 25 degrees to the north. The L1 (C Zone) the L2 (E Zone) skarn/marble horizons were intersected in most holes, as well as intervening porcellanites that host the bulk of the disseminated copper mineralization.

Table 2: Drill hole locations

DDH No. Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation
30-1097 0.00 -90.00 1224.0 316150.0 5426416.0 742.3
30-1100 0.00 -90.00 987.0 315825.0 5426193.0 619.4
30-1101 0.00 -90.00 592.0 316612.0 5425837.0 593.3
30-1102 0.00 -90.00 930.0 316595.0 5426284.1 603.7
30-1104 0.00 -90.00 999.0 315700.0 5426358.0 592.1
30-1105 0.00 -90.00 819.0 316104.0 5425877.0 586.9


Explanatory note regarding copper-equivalent grades

Copper Equivalent grades are expressed for purposes of simplicity and are calculated taking into account: 1) metal grades; 2) estimated long-term prices of metals: US$4.25/lb copper, $20.00/lb molybdenum, and US$24/oz silver; 3) estimated recoveries of 92%, 70%, and 70% for Cu, Mo, and Ag respectively; and 4) net smelter return value of metals as percentage of the price, estimated at 86.5%, 90.7%, and 75.0% for Cu, Mo, and Ag respectively.

Qualified Person

The scientific and technical content of this news release has been reviewed and approved by Mr. Bernard-Olivier Martel, P. Geo. (OGQ 492), an independent ‘qualified person’ as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101’).

Quality Assurance / Quality Control

Mineralized intervals reported herein are calculated using an average 0.12% CuEq lower cut-off over contiguous 20-metre intersections (shorter intervals as the case may be at the upper and lower limits of reported intervals). Intervals of 20 metres or less are not reported unless indicating significantly higher grades .   True widths are estimated at 90 – 92% of the reported core length intervals.

Osisko Metals adheres to a strict QA/QC program for core handling, sampling, sample transportation and analyses, including insertion of blanks and standards in the sample stream. Drill core is drilled in HQ or NQ diameter and securely transported to its core processing facility on site, where it is logged, cut and sampled. Samples selected for assay are sealed and shipped to ALS Canada Ltd.’s preparation facility in Sudbury. Sample preparation details (code PREP-31DH) are available on the ALS Canada website. Pulps are analyzed at the ALS Canada Ltd. facility in North Vancouver, BC. All samples are analyzed by four acid digestion followed by both ICP-AES and ICP-MS for Cu, Mo and Ag.

About Osisko Metals

Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc. The Company acquired a 100% interest in the past-producing Gaspé Copper mine from Glencore Canada Corporation in July 2023. The Gaspé Copper mine is located near Murdochville in Québec ‘ s Gaspé Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper system, with current Indicated Mineral Resources of 824 Mt averaging 0.34% CuEq and Inferred Mineral Resources of 670 Mt averaging 0.38% CuEq (in compliance with NI 43-101). For more information, see Osisko Metals’ November 14, 2024 news release entitled ‘Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé Copper’. Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.

In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point Mining Limited joint venture to advance one of Canada ‘ s largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of Indicated Mineral Resources of 49.5 Mt averaging 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt averaging 5.64% ZnEq (in compliance with NI 43-101). For more information, see Osisko Metals ‘ June 25, 2024 news release entitled ‘Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq’. The Pine Point project is located on the south shore of Great Slave Lake, NWT, close to infrastructure, with paved road access, an electrical substation and 100 kilometres of viable haul roads.

For further information on this news release, visit www.osiskometals.com or contact:

Don Njegovan, President
Email: info@osiskometals.com
Phone: (416) 500-4129

Cautionary Statement on Forward-Looking Information

This news release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as ‘expects’, or ‘does not expect’, ‘is expected’, ‘interpreted’, ‘management’s view’, ‘anticipates’ or ‘does not anticipate’, ‘plans’, ‘budget’, ‘scheduled’, ‘forecasts’, ‘estimates’, ‘potential’, ‘feasibility’, ‘believes’ or ‘intends’ or variations of such words and phrases or stating that certain actions, events or results ‘may’ or ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the tax treatment of the FT Units; the timing of incurring the Qualifying Expenditures and the renunciation of the Qualifying Expenditures; the ability to advance Gaspé Copper to a construction decision (if at all); the ability to increase the Company’s trading liquidity and enhance its capital markets presence; the potential re-rating of the Company; the ability for the Company to unlock the full potential of its assets and achieve success; the ability for the Company to create value for its shareholders; the advancement of the Pine Point project; the anticipated resource expansion of the Gaspé Copper system and Gaspé Copper hosting the largest undeveloped copper resource in eastern North America.

Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: the ability of exploration results, including drilling, to accurately predict mineralization; errors in geological modelling; insufficient data; equity and debt capital markets; future spot prices of copper and zinc; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; political and regulatory stability; the receipt of governmental and third party approvals; licenses and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of mining equipment and positive relations with local communities and groups. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.ca) under Osisko Metals’ issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither the TSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Exchange) accept responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission, or other regulatory authority has approved or disapproved the information contained herein.

Figures accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/d9ceeb48-c38d-45dc-a5ec-f96863709f4a
https://www.globenewswire.com/NewsRoom/AttachmentNg/2df9a7aa-2f59-4631-b9dc-e4794a30e22b

News Provided by GlobeNewswire via QuoteMedia

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