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Here’s a quick recap of the crypto landscape for Monday (December 22) as of 9:00 am UTC.

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

Bitcoin and Ether price update

Bitcoin (BTC) was priced at US$89,286.25, up by 2.3 percent over 24 hours.

Bitcoin price performance, December 22, 2025.

Chart via TradingView

Ether (ETH) was priced at US$3,026.40, up by 3.3 percent over the last 24 hours.

Altcoin price update

  • XRP (XRP) was priced at US$1.92, up by 1.4 percent over 24 hours.
  • Solana (SOL) was trading at US$126.14, up by 2.3 percent over 24 hours.

Today’s crypto news to know

US crypto funds See US$952M outflow amid regulatory delays

Investors pulled US$952 million from US crypto investment products last week, marking the first weekly outflow in a month, according to data from CoinShares.

The exodus was concentrated in the US totaling US$990 million, which was partially offset by modest inflows into Canadian and German products.

Analysts attributed the sell-off to continued delays in the US CLARITY Act, prolonging regulatory uncertainty, alongside concerns about large holders offloading positions.

Ethereum-based funds led the outflows with US$555 million, while Bitcoin products saw US$460 million leave.

Hong Kong moves to unlock insurance capital for crypto investments

Hong Kong’s Insurance Authority has proposed new rules that would allow licensed insurers to invest in cryptocurrencies and related infrastructure, potentially unlocking billions in capital.

According to a Bloomberg report, insurers under the proposed framework would face a 100 percent “risk charge” on direct crypto holdings, meaning a dollar of capital must be set aside for every dollar invested. Stablecoins pegged to fiat would attract lower risk charges.

The initiative aims to attract institutional investors while maintaining prudential safeguards against crypto volatility.

Public consultation on the draft rules is scheduled for February through April 2025, with formal legislative submissions expected later in the year.

Binance allowed high-risk accounts post-plea deal, FT reports

Binance reportedly continued to permit suspicious accounts to operate after its US$4.3 billion U.S. plea agreement in 2023, according to a Financial Times investigation.

Internal files reviewed by the FT showed accounts linked to terror financing networks, improbable login patterns, and failed identity checks remained active, moving billions of dollars in crypto.

One account from Venezuela moved US$93 million, with portions connected to networks tied to Iran and Hezbollah.

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

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

This post appeared first on investingnews.com

TOMAGOLD CORPORATION (TSXV: LOT; OTCPK: TOGOF) (“TomaGold” or the “Company”) is very pleased to announce the initial assay results from drill holes TOM-25-009 and TOM-25-010 at its Berrigan Mine project located in the Chibougamau mining camp, in Québec. These are the first two of seven holes for a total of 3,098 metres at Berrigan Mine, with the objective of testing the historical mineralized structure and opening new potential mineralization at depth. The results confirm the presence of high-grade gold-bearing polymetallic vein systems within an extensive mineralized envelope hosted in ultramafic rocks.

Highlights

  • Main High-Grade Intersections:
    • Hole TOM-25-009 (from 156.70 m): 6.68% ZnEq (1.57 g/t AuEq) over 48.05 metres, including 39.03% ZnEq (9.15 g/t AuEq) over 2.90 metres and 21.86% ZnEq (5.12 g/t AuEq) over 5.40 metres.
    • Hole TOM-25-009 (from 244.50 m): 5.44% ZnEq (1.27 g/t AuEq) over 15.20 metres, including 25.15% ZnEq (5.85 g/t AuEq) over 2.55 metres.
    • Hole TOM-25-010 (from 130.70 m): 2.67% ZnEq (0.62 g/t AuEq) over 48.30 metres, including 12.87% ZnEq (3.00 g/t AuEq) over 6.25 metres.
  • Assay results are pending for five drill holes targeting the lateral and depth extensions of the known mineralized envelope (TOM-25-011 to TOM-25-015).
  • Hydrothermal footprint: Identification of a significant hydrothermal signature at the roof of the main mineralization, providing valuable exploration guidance for potential extensions.
  • Exploration ongoing: A Borehole EM survey is currently underway on the ground to identify new targets.

Figure 1: Berrigan Mine Drill Hole Location Map

Figure 2: Longitudinal Section of the Berrigan Mine Known Mineralized Envelope and Completed Drill Holes (excluding TOM-25-011 and TOM-25-012)

David Grondin, CEO of TomaGold, commented: “These initial results are truly outstanding, most notably the 39% ZnEq intersection in hole TOM-25-009. The confirmation of a hydrothermal footprint overlying the main mineralized zones significantly reinforces our geological understanding of the Berrigan Mine project. With the EM survey currently underway and extension drilling results expected in January, we look forward to defining the full scale and continuity of the mineralized envelope.”

Jean Lafleur, P.Geo., VP Exploration at TomaGold, added: “TomaGold is currently advancing an all-encompassing litho-structural and geophysical compilation, synthesis and interpretation for its Chibougamau mining camp projects, incorporating AI modeling with Windfall Geotek’s proprietary system. We’ve also completed additional geophysical work to refine both gold and polymetallic targeting for the upcoming winter 2026 exploration campaign. This approach has already yielded new targets, which are currently being tested through diamond drilling. The latest drilling results at Berrigan Mine offer a glimpse into the exploration potential of some of these targets.”

Mineralization at Berrigan Mine is primarily associated with carbonatized ultramafic rocks. Analysis of visually non-mineralized samples, including intervals initially excluded from sampling, has identified low-grade halos associated with quartz-carbonate stockwork that increase the potential volume of the mineralized envelope. A borehole EM survey is currently being conducted on holes from this campaign to guide future deep drilling. To ensure a comprehensive understanding of the system, the team proactively analyzed previously unsampled sections to ensure that no low-grade mineralization or alteration halos were overlooked.

Next steps will include receipt of assay results in January 2026 for five additional holes testing lateral and depth extensions, integration of EM and complete core assay data into the resource model, compilation and characterization of alteration systems, and planning of a field exploration program. Phase 2 drilling will be planned following compilation of Phase 1 drilling, geophysical data, and results from the upcoming field campaign.

Table 1: First Two Holes of Phase 1 Drilling Campaign at Berrigan Mine Project

Hole ID

From (m)

To

(m)

Length (m)

ZnEq

(%)

AuEq (g/t)

Au

(g/t)

Ag

(g/t)

Cu (ppm)

Zn

(ppm)

TOM-25-009

156.70

204.75

48.05

6.68

1.57

1.12

7.55

365

13977

Including

156.70

159.60

2.90

39.03

9.15

6.76

40.24

1897

75694

Including

163.95

169.00

5.05

3.85

0.90

0.41

11.35

285

14295

Including

181.70

182.90

1.20

14.06

3.29

2.36

19.50

346

28900

Including

189.20

194.60

5.40

21.86

5.12

3.75

16.35

754

48142

Including

196.00

198.60

2.60

2.40

0.57

0.43

5.28

565

1116

Including

204.00

204.70

0.70

43.65

10.25

8.71

9.20

478

60100

230.35

236.80

6.45

1.36

0.32

0.14

1.23

152

6699

Including

235.70

236.80

1.10

5.61

1.31

0.72

2.80

373

22700

244.50

259.70

15.20

5.44

1.27

0.59

7.22

440

24026

Including

254.60

257.15

2.55

25.15

5.85

2.24

32.07

1472

134216

TOM-25-010

108.00

111.00

3.00

2.54

0.60

0.51

1.53

232

2310

120.65

125.00

4.35

8.93

2.08

0.95

9.11

482

42663

Including

121.95

125.00

3.05

9.18

2.14

0.84

10.56

578

48566

130.70

179.00

48.30

2.67

0.62

0.30

4.11

385

10557

Including

135.75

142.00

6.25

12.87

3.00

1.63

16.13

928

47881

Including

144.80

149.00

4.20

2.21

0.51

0.12

4.68

366

13073

Including

158.30

159.35

1.05

4.05

0.94

0.16

5.93

974

27300

Including

175.50

177.70

2.20

4.71

1.10

0.79

3.57

393

10377

Notes:

  • The reported widths represent core lengths. ZnEq and AuEq are calculated using the Company’s standard parameters. True width is estimated to be approximately 80–85% of the core length, depending on the deviation angles.
  • AuEq calculation was based on US$4150/oz Au, $51.36/oz Ag, US$5.044/lb Cu and $1.398/lb Zn. AuEq = Au g/t + (Ag g/t × 0.01237) + (Cu ppm × 0.000083) + (Zn ppm × 0.000023). The use of AuEq is to calculate cut-off grades for exploration purposes, and no adjustments were made for metal recovery.
  • ZnEq calculation was based on US$4047/oz Au, $50.22/oz Ag, US$4.796/lb Cu and $1.390/lb Zn. ZnEq = Zn ppm + (Ag g/t × 527) + (Au g/t x 42466) + (Cu ppm × 3.45) / 10,000. The use of ZnEq is to calculate cut-off grades for exploration purposes, and no adjustments were made for metal recovery.

Table 2: Berrigan Mine Drill Hole Collars

Hold ID

Azimuth

Dip

Length

UTM – East

UTM – North

Elevation

TOM-25-009

129.70

-55.40

276.00

542370.00

5532596.00

395

TOM-25-010

130.01

-55.05

252.00

542419.00

5532647.00

392

Note: Assay results are pending for TOM-25-011 to TOM-25-015.

About the Berrigan Mine Project

The Berrigan Mine property consists of 16 claims totalling 483 hectares located 4 km north-northwest of the town of Chibougamau. TomaGold has an option to acquire 100% of the property from Chibougamau Independent Mines Inc.

The property has been the subject of more than one historical estimate. Met-Chem Canada Inc. prepared the most recent of these in April 2001 in a report titled: “Pre-feasibility study: Etude Conceptuelle, Projects Berrigan and Tortigny” by Chuinard et al. In the report, a resource estimate completed using polygonal estimation techniques stated 1,388,915 tonnes of material grading 3.17% Zn and 1.77 g/t Au on the main Berrigan Mine zone. No resource classifications were given for the resource (GM61359).

The mineral resource estimate presented above is historical in nature and was not prepared in accordance with National Instrument 43-101 standards. Accordingly, the reader is cautioned not to rely on this estimate, in whole or in part, as a current mineral resource. Substantial data compilation, verification, and, potentially, additional drilling and resampling would be required by a qualified person before the historical estimate could be classified as a current mineral resource. There can be no assurance that any portion of the historical mineral resource will ultimately be confirmed or demonstrated to be economically viable. For further information regarding the Berrigan Mine Project, please consult the press release dated September 13, 2023.

Technical Disclosure

The drilling program was managed by Explo-Logik of Val-d’Or, Québec. Drill core was split in half, with one half submitted to AGAT Laboratories at Val-d’Or for analysis. Gold was analyzed by fire assay (50 g) with atomic absorption finish, while base metals were analyzed by four-acid digestion with ICP-OES finish. Samples with gold grades greater than 10 g/t are reprocessed using metallic screening with a 106 µm cutoff. The processed material is split and analyzed by fire assay with ICP-OES finish to extinction. A separate split is prepared to independently analyze mineralized intervals with a target grade greater than 1.00% Cu-Zn using a Na₂O₂ fusion with ICP-OES or ICP-MS finish. Sample preparation duplicates, certified reference standards, and blanks are inserted into the sample stream.

The technical content of this press release has been reviewed and approved by Jean Lafleur, P.Geo., Vice President of Exploration of the Company, and Suzie Tremblay, P.Geo., Vice President of Operations at Explo-Logik Inc. and a consultant to TomaGold, each acting as a Qualified Person under National Instrument 43-101.

About TomaGold

TomaGold Corp. (TSXV: LOT, OTCPK: TOGOF) is a Canadian junior mining company focused on the acquisition, exploration, and development of high-potential precious and base metal projects, with a primary focus on gold and copper in Québec and Ontario. The Company’s core assets are located in the Chibougamau Mining Camp in northern Québec, where it owns the Obalski gold-copper-silver project and holds options to acquire 12 additional properties, including the Berrigan Mine, Radar, David, and Dufault projects. TomaGold also holds a 24.5% joint venture interest in the Baird gold property near the Red Lake Mining Camp in Ontario. In addition, the Company has lithium and rare earth element (REE) projects in the James Bay region, strategically positioned near significant recent discoveries.

Cautionary Statement on Forward-Looking Information

This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the potential results of exploration and drilling activities, market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates, opinions, or other factors should change.

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

Contacts

David Grondin
President and Chief Executive Officer
(514) 583-3490
www.tomagoldcorp.com

Source

This post appeared first on investingnews.com

Apollo Silver Corp. (‘Apollo Silver’ or the ‘Company’) (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0). Further to the Company’s news release disseminated this morning announcing a non-brokered private placement offering of 5,000,000 units (the ‘Units’) of the Company at a price of $5.00 per Unit, for aggregate gross proceeds of $25,000,000 (the ‘Offering’), Apollo Silver wishes to clarify that each Unit issued pursuant to the Offering will consist of one common share (a ‘Share’) in the capital of the Company and one full common Share purchase warrant (a ‘Warrant’) rather than a one half Warrant as originally announced. Each Warrant entitles the holder thereof to purchase one Share at an exercise price of $7.00 for 24 months from the closing date of the Offering.

All securities issued in connection with the Offering will be subject to a four-month hold period from the date of closing. Finder’s fees may be payable on some or all of the funds raised, in accordance with the policies of the TSX Venture Exchange (the ‘TSXV‘). The Company intends on using the net proceeds from the Offering to fund exploration and development activities across the Company’s projects, as well as for general working capital and corporate purposes.

Closing of the Offering is subject to regulatory approval including that of the TSXV.

The Shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the ‘U.S. Securities Act‘), or any U.S. state securities laws, and may not be offered or sold in the United States without registration under the U.S. Securities Act and all applicable state securities laws or compliance with the requirements of an applicable exemption therefrom. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Apollo Silver Corp.

Apollo Silver is advancing one of the largest undeveloped primary silver projects in the US. The Calico project hosts a large, bulk minable silver deposit with significant barite credits – a critical mineral essential to the US energy and medical sectors. The Company also holds an option on the Cinco de Mayo Project in Chihuahua, Mexico, which is host to a major carbonate replacement (CRD) deposit that is both high-grade and large tonnage. Led by an experienced and award-winning management team, Apollo is well positioned to advance the assets and deliver value through exploration and development.

Please visit www.apollosilver.com for further information.

ON BEHALF OF THE BOARD OF DIRECTORS

Ross McElroy
President and CEO

For further information, please contact:

Email: info@apollosilver.com

Telephone: +1 (604) 428-6128

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

Cautionary Statement Regarding ‘Forward-Looking’ Information

This news release includes ‘forward-looking statements’ and ‘forward-looking information’ within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the expected timing for completion of the Offering; and the intended use of proceeds from the Offering. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as ‘anticipate’, ‘believe’, ‘plan’, ‘estimate’, ‘expect’, ‘potential’, ‘target’, ‘budget’ and ‘intend’ and statements that an event or result ‘may’, ‘will’, ‘should’, ‘could’ or ‘might’ occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-looking statements are based on the reasonable assumptions, estimates, analysis, and opinions of the management of the Company made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant and reasonable in the circumstances at the date that such statements are made. Forward-looking information is based on reasonable assumptions that have been made by the Company as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may have caused actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks associated with mineral exploration and development; metal and mineral prices; availability of capital; accuracy of the Company’s projections and estimates; realization of mineral resource estimates, interest and exchange rates; competition; stock price fluctuations; availability of drilling equipment and access; actual results of current exploration activities; government regulation; political or economic developments; environmental risks; insurance risks; capital expenditures; operating or technical difficulties in connection with development activities; personnel relations; and changes in Project parameters as plans continue to be refined. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the price of silver, gold and barite; the demand for silver, gold and barite; the ability to carry on exploration and development activities; the timely receipt of any required approvals; the ability to obtain qualified personnel, equipment and services in a timely and cost-efficient manner; the ability to operate in a safe, efficient and effective matter; and the regulatory framework regarding environmental matters, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information contained herein, except in accordance with applicable securities laws. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding the Company’s expected financial and operational performance and the Company’s plans and objectives and may not be appropriate for other purposes. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

News Provided by GlobeNewswire via QuoteMedia

This post appeared first on investingnews.com

Valereum Plc (AQSE: VLRM) is pleased to announce that WAGEEN Token (WAG1), the flagship digital asset issued within the Wageen Corp. group, will imminently be listed on VLRM Markets, the Company’s licensed and regulated tokenisation venue for real-world asset (RWA) opportunities. This agreement is expected to generate $600,000 in revenue for VLRM Markets upon the successful completion of the Wageen token issuance.

WAG1 introduces a differentiated investment structure combining stable fixed income with long-term growth potential. The token provides investors with regulated exposure to the rapidly expanding Mobility-as-a-Service (MaaS) sector across Latin America, participating in the evolution of a technology-driven mobility platform with strong regional scalability.

The issuance targets a total raise of US$20 million, of which US$6 million has already been secured through institutional commitments. WAG1 offers an 11% fixed annual yield, payable annually, with investors gaining exposure to Wageen Corp.’s planned growth in the Mobility-as-a-Service sector ahead of its intended equity offering.

Wageen Corp. is building an integrated mobility ecosystem combining terrestrial, air, and maritime transport services into one platform. The application enables users to access ride-hailing and premium mobility options, including private aviation, yachts, and helicopter services, through a single digital interface.

In addition to its financial structure, WAG1 also includes lifestyle-based utility features, delivered through partnerships with transport and travel providers, offering real-world benefits for token holders.

Gary Cottle, Group CEO of Valereum Plc, comments:

‘The addition of WAG1 to VLRM Markets shows the appetite that’s out there for regulated digital assets connected to real-world sectors which are using intelligence to revolutionise life and business.’

Richard White, Group CEO of Wageen, adds:

‘WAG1 offers investors a regulated entry point into the next generation of integrated mobility. With a competitive yield structure and an ambitious expansion roadmap, it represents a unique opportunity to participate in the development of a scalable and future-driven mobility ecosystem.’

Board and Corporate Update

In parallel with this commercial progress, Valereum Plc announces that Matt Ripperger has stepped down from his role as Non-Executive Director. This transition forms part of the anticipated Board reconstitution already signalled in relation to the planned introduction of strategic funding from Valereum QGP-SP.

On behalf of the Board, the Company would like to thank Matt for his service and the expertise he has contributed to Valereum during a pivotal period of development, and wishes him every success in his future endeavours.

The Company also confirms that it is in advanced discussions regarding the appointment of a new AQSE Corporate Adviser. The Board has selected an adviser with the capability and experience required to support Valereum’s strategic plan.

A further announcement will be made in due course.

The Directors of the Company accept responsibility for the contents of this announcement.

For further information, please contact:

Valereum Plc

Karl Moss

Tel: +44 7938 767319

Investor Hub

Fortified Securities

Guy Wheatley

Tel: +44 203 4117773

To read more, please visit the Company’s website at www.vlrm.com

or

To engage with Valereum directly by asking questions, watching video summaries and seeing what other shareholders have to say, navigate to our Investor Hub here: Sign Up

IMPORTANT NOTICES

The Company holds cryptocurrencies or cryptoassets in its treasury. Whilst the Board of Directors of the Company considers holding cryptocurrencies to be in the best interests of the Company, the Board remains aware that the financial regulator in the UK (the Financial Conduct Authority or FCA) considers investment in cryptocurrencies to be high risk. At the outset, it is important to note that an investment in the Company is not an investment in cryptocurrencies, either directly or by proxy and shareholders will have no direct access to the Company’s holdings. However, the Board of Directors consider cryptocurrencies to be an appropriate store of value and potential growth and therefore appropriate for the Company. Accordingly, the Company is and intends to continue to be materially exposed to cryptocurrencies.

The Company is neither authorised nor regulated by the FCA, and the purchase of certain cryptocurrencies are generally unregulated in the UK. As with most other investments, the value of cryptocurrencies can go down as well as up, and therefore the value of the Company’s cryptocurrencies holdings can fluctuate. The Company may not be able to realise its cryptocurrencies holdings for the same as it paid to acquire them or even for the value the Company currently ascribes to its cryptocurrencies positions due to market movements. Neither the Company nor investors in the Company’s shares are protected by the UK’s Financial Ombudsman Service or the Financial Services Compensation Scheme.

Cryptocurrencies may present special risks to the Company’s financial position. These risks include (but are not limited to): (i) the value of cryptocurrencies can be highly volatile, with value dropping as quickly as it can rise. Investors in cryptocurrencies must be prepared to lose all money invested in cryptocurrencies; (ii) the cryptocurrencies market is largely unregulated. There is a risk of losing money due to risks such as cyber-attacks, financial crime and counterparty failure; (iii) the Company may not be able to sell its cryptocurrencies at will. The ability to sell cryptocurrencies depends on various factors, including the supply and demand in the market at the relevant time. Operational failings such as technology outages, cyber-attacks and comingling of funds could cause unwanted delay; and (iv) cryptoassets are characterised in some quarters by high degrees of fraud, money laundering and financial crime. Prospective investors in the Company are encouraged to do their own research before investing.

Source

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(TheNewswire)

      

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

TORONTO, ONTARIO (December 22, 2025) TheNewswire – Laurion Mineral Exploration Inc. (TSX.V: LME|OTC: LMEFF|FSE: 5YD) (‘LAURION’ or the ‘Corporation’) is pleased to announce that it has closed its previously-announced non-brokered private placement (the ‘Private Placement’) consisting of flow-through units (the ‘FT Units’). Pursuant to the Private Placement, the Corporation issued 4,619,130 FT Units at a subscription price of $0.33 per FT Unit, for aggregate gross proceeds to the Corporation of $1,524,313.

Each FT Unit consists of one common share of the Corporation (each, a ‘FT Share‘) and one-half of one common share purchase warrant (each, a ‘Warrant‘). Each Warrant entitles the holder thereof to acquire one non flow-through common share of the Corporation at a price of $0.39 per share for a period of 24 months from the date of issuance. The FT Shares and the Warrants comprising the FT Units qualify as ‘flow-through shares’, as defined in subsection 66(15) of the Income Tax Act (Canada) (the ‘Tax Act‘).

The gross proceeds of the Private Placement will be used for ‘Canadian exploration expenses’ (within the meaning of the Tax Act), which will qualify, once renounced, as ‘flow-through mining expenditures’, as defined in the Tax Act, which will be renounced with an effective date of no later than December 31, 2025 (provided the subscriber deals at arm’s length with the Corporation at all relevant times) to the initial purchasers of FT Units in an aggregate amount not less than the gross proceeds raised from the issue of the FT Units. LAURION intends to allocate the proceeds from the Private Placement to advance the Corporation’s 2026 drill program on the Ishkõday property. Planned drilling will focus on key areas within the A-Zone/McLeod and CRK Trend, as well as the historic Sturgeon River Mine area. These zones have been prioritized based on their structural characteristics, surface observations and past drill results, as LAURION continues to build on its growing understanding of the broader mineralized system.

‘This financing enables us to keep advancing our disciplined, technically driven approach to unlocking the potential of the Ishkõday system,’ said Cynthia Le Sueur-Aquin, President and CEO. ‘We are targeting areas with strong structural and geological signals, guided by strong technical fundamentals and a clear strategy for long-term value creation.’

In connection with the Private Placement, certain arm’s-length finders received an aggregate of $66,559 as a cash finder’s commission and an aggregate of 201,693 finder’s warrants. Each finder’s warrant entitles the holder thereof to acquire one non flow-through common share of the Corporation at a price of $0.33 per share for a period of 24 months from the date of issuance.

Pursuant to applicable Canadian securities laws, all securities issued pursuant to the Private Placement are subject to a hold period of four months and one day, expiring on April 23, 2026. The Private Placement remains subject to the final approval of the TSX Venture Exchange (the ‘TSXV‘).

About LAURION Mineral Exploration Inc.

 

The Corporation is a mid-stage junior mineral exploration and development company listed on the TSXV under the symbol LME and on the OTCPINK under the symbol LMEFF. LAURION now has 278,716,413 outstanding shares, of which approximately 73.6% are owned and controlled by insiders who are eligible investors under the ‘Friends and Family’ categories.

 

LAURION’s emphasis is on the exploration and development of its flagship project, the 100% owned mid-stage 57 km2 Ishkõday Project, and its gold-rich polymetallic mineralization.

 

LAURION’s chief priority remains maximizing shareholder value. A large portion of the Corporation’s focus in this regard falls within the scope of its mineral exploration activities and more specifically, advancing the Ishkõday Project. A consequence of LAURION’s success and advancement over the past several years is that the Corporation has become positioned as an acquisition target for appropriate potential acquirors. Accordingly, the Corporation’s Board of Directors is aware that possible strategic alternatives and transactional opportunities may arise and/or could be procured in the short or medium terms. The Corporation will promptly issue a press release if any material change occurs.

 

FOR FURTHER INFORMATION, CONTACT:


LAURION Mineral Exploration Inc.

 

Cynthia Le Sueur-Aquin – President and CEO

Tel: 1-705-788-9186 Fax: 1-705-805-9256

 

Douglas Vass – Investor Relations Consultant

Email: info@laurion.ca

 

Website: http://www.LAURION.ca

 

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Caution Regarding Forward-Looking Information

 

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The global lithium market endured a bruising 2025, with persistent oversupply and softer-than-expected electric vehicle (EV) demand driving prices for the battery metal to multi-year lows.

Lithium carbonate prices in North Asia slipped below US$9,550 per metric ton in February — their weakest level since 2021 — triggering production cuts and project delays, particularly in Australia and China. Despite brief rallies later in the year, prices remained under pressure, reflecting a market struggling to absorb rapid supply growth.

That imbalance has been years in the making. Global lithium carbonate output surged 192 percent between 2020 and 2024 while demand lagged, leaving the market with a large surplus.

Analysts estimate that supply exceeded demand by more than 150,000 metric tons in both 2023 and 2024, with inventories continuing to cap price recovery in 2025. Although the surplus is shrinking, high stockpiles have kept prices rangebound, with lithium carbonate largely hovering near US$10,000 for much of the year.

Volatility punctuated the lithium industry in the second half of 2025.

Prices rebounded sharply in July on supply cut speculation, briefly pushing lithium carbonate to an 11 month high above US$12,000 before retreating as producers denied meaningful reductions and inventories remained ample.

Policy uncertainty in the US, including threats to EV incentives, and regulatory signals from China further weighed on sentiment, underscoring the market’s sensitivity to both geopolitics and headlines.

Despite the prolonged downturn, analysts increasingly view 2025 as a potential inflection point. With roughly a third of global production estimated to be unprofitable at current prices, further supply rationalization appears likely.

Forecasts point to a sharply narrower surplus in 2025 and a possible deficit emerging in 2026, suggesting that while lithium’s near-term outlook remains constrained, the sector’s long-term fundamentals — driven by electrification, the energy transition and data-intensive technologies — remain intact.

Lithium in 2025: A tale of two markets

In contrast, the second half of 2025 saw a boost in prices across the lithium space as market fundamentals improved due to Contemporary Amperex Technology (SZSE:300750,HKEX:3750) curtailing operations at the Jianxiawo lepidolite mine in early August. Despite reports that Jianxiawo would restart operations in December, it is unclear if the mine, which is one of the world’s largest, is back in operation.

Concern over the removed supply pushed carbonate prices higher from mid-October through the end of the year, when they rose from US$10,417.37 to US$14,131.44, a 34 percent increase.

Battery energy storage demand key to lithium growth

Another trend Klein pointed to was the rapid growth in the battery energy storage system (BESS) market, which is expected to grow by 44 percent in 2025, representing a quarter of all battery demand.

“We’ve been talking about BESS being a very fast, growing and big part of the market, but it’s now become the consensus opinion that it’s very strong not only in China, but elsewhere,” said Klein.

Although BESS is one of the fastest-growing segments of the battery market, Klein believes its growth potential is not fully understood. “The market’s probably still underestimating that narrative about battery energy storage,” he said, adding that it is only now starting to be understood by people who are in the industry.

“But for the broader, generalist investor who still equates lithium with EVs, they don’t fully understand the battery energy storage angle, so I think they’re still underestimating that,” said Klein. The market is projected to balloon from US$13.7 billion in 2024 to US$43.4 billion by 2030, growing at a compound annual growth rate of 21.3 percent.

Industry analysts expect BESS installations could expand from roughly 205 gigawatt-hours in 2024 to between 520 and 700 gigawatt-hours by 2030, driven by renewable integration, grid stability needs and declining costs.

While EVs have dominated the lithium narrative, Del Real said the real opportunity was “never just a play on EVs or hybrids — it was a play on grid storage, energy storage,” with cheaper battery cells unlocking faster adoption.

That mispricing has created a contrarian opportunity, he added, noting that lithium’s neglect over the past six months has rewarded patient investors. “It’s lonely in the forest sometimes,” Del Real said. But when sentiment turns, “the re-rating can be spectacularly profitable if you know how to play it.”

Lithium exploration budgets evaporate

Lithium exploration budgets were sharply reduced in 2025 as miners retrenched amid prolonged price weakness.

S&P Global’s 2025 corporate exploration strategies study shows that spending on lithium and other critical minerals exploration fell significantly, even as overall non-ferrous exploration dipped only slightly.

Lithium, which had previously broken the US$1 billion mark for exploration spending, saw its allocation cut as junior companies tightened their belts and delayed programs. Cuts were most pronounced in traditional exploration hubs such as Canada, Australia and the US, where weakened junior sectors hit budgets hardest; meanwhile, regions like Chile, Peru and Saudi Arabia recorded relative gains in broader exploration funding.

Lithium remains a structurally important exploration commodity despite a sharp pullback in spending, Kevin Murphy, director of metals and mining research at S&P Global, said during a December webinar.

Murphy described the metal’s rise over the past decade as a “lithium renaissance.”

Once “completely inconsequential for exploration,” lithium has become the third most explored commodity globally over the past five years, underscoring how central it has become to future-facing supply chains.

However, that momentum stalled in 2025 as ongoing price weakness forced a reset. Murphy said lithium exploration budgets were “absolutely gutted,” falling to roughly half of 2024 levels, a decline he described as expected given depressed prices and the completion of several late-stage programs that wrapped up in late 2024 and early 2025.

“The lithium price has been depressed for too long for the budgets to be resilient,” he said, framing the downturn as cyclical rather than structural.

Lithium stocks stage H2 rally

Speaking at this year’s Benchmark Week event in November, Sean Gilmartin, senior equity analyst at Bloomberg, explained that lithium equities staged a sharp rebound in H2 after years of underperformance.

After lagging broader materials and chemical indexes for much of the first half of the year, lithium stocks surged in the second half of the year, closely tracking rising spot prices.

“Over a three year window, lithium names were still very much lagging,” Gilmartin said, “but we’ve flipped the script in a few months. Year-to-date, we’re seeing on average 47 percent gains, closely aligned with spot markets.”

He attributed the turnaround to stronger-than-expected lithium demand, particularly from BESS, as well as supply curtailments in China, which have tightened the market.

Despite the rebound, he cautioned that volatility remains a defining feature of the lithium equities space.

“You need to have a long-term view, and you have to be very adherent to your thesis,” Gilmartin said, noting that the demand story remains intact and that fundamentals continue to support growth through 2026 and beyond.

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

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Nickel prices were stagnant in 2025, trading around US$15,000 per metric ton (MT) for much of the year.

The metal’s primary price motivation stemmed from persistent oversupply from Indonesian operations.

Overall, sentiment remained weak amid soft demand growth from the construction and manufacturing sectors, and declining interest in nickel as electric vehicle (EV) battery makers began to eye cheaper chemistries.

Nickel supply in 2026

The big question going into the new year is if nickel supply and demand will come into balance.

The most significant contributing factor over the last several years has been an abundance of supply from Indonesia, which has become the world’s top nickel producer.

The US Geological Survey estimates that full-year 2024 nickel production came in at 2.2 million MT, a staggering increase over the 800,000 MT it believes the nation produced in 2019.

In February 2025, the Indonesian government changed its quota system, effectively increasing nickel ore output to 298.5 million wet metric tons (WMT) from 271 million WMT in 2024. At the time, it said the increased production capacity was being limited to major production areas and was designed to reduce supply pressures.

The increase helped drive the amount of nickel sitting in exchange warehouses. Stockpiles at the London Metal Exchange (LME) had risen to 254,364 MT by the end of November, up from 164,028 MT at the start of 2025.

Meanwhile, the nickel price sank to US$14,295, toward the lower end of profitability for low-cost Indonesian miners.

The profitability question has raised the possibility of cuts — according to Shanghai Metal Market, the Indonesian government is proposing to cut nickel ore output to around 250 million MT in 2026. If the reduction comes to pass, it would mark a significant decline from the 379 million WMT laid out by Indonesia in 2025. Discussions on the final amount are ongoing, and the outlet states that it will be some time before the target is finalized.

“The global market is still forecast to remain in surplus — around 261,000 MT in 2026 — so further cuts would need to be significant to alter fundamentals,” she explained.

Additionally, there could be a wait-and-see approach as other new policies adopted by the Indonesian government in 2025 begin to take hold. The first, introduced in April, saw a shift from a flat 10 percent royalty to a more dynamic rate of 14 to 18 percent, depending on nickel prices. The second came in October, when the government cut the validity period of mining licenses from three years to one, providing the government greater oversight of production levels.

These prices, however, aren’t supportive of western producers, which began curtailing operations in 2024 when the LME average price was US$16,812 and reached US$21,000 in May of that year.

For her part, Manthy suggested that to get back to that range, there needs to be a more coordinated approach to constraining supply, and it may not make an immediate difference.

“To push prices to that range, cuts would need to be deep enough to erase most of the projected surplus. Given the scale — hundreds of thousands of MT — this seems unlikely without coordinated action. Even then, investor sentiment would probably require sustained prices above US$20,000 to materially improve producer attractiveness,” she said.

Nickel demand in 2026

The challenges faced by nickel go beyond oversupply; demand growth for the base metal is also soft.

Nickel’s primary use case is in the production of stainless steel, much of it destined for the Chinese housing market, which has yet to recover from its collapse in 2020.

While the Chinese government tried to stabilize the market in 2024 and earlier in 2025, it has done little to reverse the downward trend. According to a CNBC report on December 2, November sales were down 36 percent from the same period in 2024, and declined 19 percent through the first 11 months of the year.

“China’s property sector weakness has weighed on stainless steel demand, which accounts for over 60 percent of global nickel consumption. Even with broader economic growth, this stagnation has kept nickel prices subdued. A property turnaround would help, but given the surplus outlook, price upside would likely be limited,” Manthey said.

Adding to nickel’s woes is soft growth from the EV market.

Much of the increase in nickel production over the last five years was to fuel the need for EV batteries, but more recently producers like Contemporary Amperex Technology (SZSE:300750,HKEX:3750), one of the world’s largest battery makers, have shifted chemistry to lithium-iron-phosphate (LFP).

Nickel-manganese-cobalt batteries had been seen as superior due to their higher energy density and longer range. But recent advances in LFP technology have erased that gap, with vehicles using the chemistry achieving ranges of over 750 kilometers. Additionally, LFP batteries are cheaper to produce and less volatile, making them safer.

According to a December 1 Reuters article, nickel battery demand rose 1 percent year-on-year in September, while LFP battery demand increased 7 percent. However, the news outlet notes that most of the nickel demand was likely driven more by a rapidly growing EV market than by the benefits of its chemistry.

Although Reuters also notes that nickel chemistry remains the dominant battery technology in western EV markets, that too comes with a caveat, especially in the US, where the elimination of the EV tax credit in September has cratered EV demand. While US EV sales reached a record 1.2 million through the first nine months of 2025, much of that was driven by consumers seeking to take advantage of the US$7,500 credit before it expired.

Early data from Cox Automotive analysis indicates that American EV sales are down 46 percent in Q4 from the third quarter, and 37 percent from the same period last year.

Against that backdrop, Ford Motor (NASDAQ:F) has scaled back its EV plans, taking a US$19.5 billion writedown, and will pivot to extended-range EVs — which use gas-powered engines to augment range — and hybrid cars. Similarly, in mid-December, the EU dropped its plans to ban the sale of all internal combustion engine light vehicles by 2035.

These policy changes likely aren’t good news for nickel watchers.

“Any slowdown in energy transition policies adds to bearish sentiment for battery metals, including nickel,” Manthey said.

Nickel price forecast for 2026

Manthey suggested that nickel prices will remain under pressure throughout 2026.

“We expect prices to struggle to hold above US$16,000 given the surplus. Upside risks hinge on unexpected supply disruptions or stronger-than-forecast stainless and battery demand, but sustained levels above US$19,000 look unlikely under current fundamentals. We see prices averaging US$15,250 in 2026,” she said.

That’s in line with the World Bank’s 2026 nickel price outlook of US$15,500, rising to US$16,000 in 2027.

The primary reason for these projections is the ongoing nickel market surplus.

While it didn’t make a price prediction, Russia’s Nornickel, one of the world’s largest nickel producers, suggests that the market will see a surplus of 275,000 MT of refined nickel in 2026.

Low prices will be a challenge for nickel producers and investors alike. Until there is a shift in market fundamentals, a rebound for nickel doesn’t appear to be in the cards in the short or even medium term.

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

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Lundin Mining (TSX:LUN,OTC Pink:LUNMF) has agreed to sell its Eagle mine and Humboldt mill in Michigan to Talon Metals (TSX:TLO,OTCID:TLOFF), pivoting its US-based operations to focus on domestic supply.

The transaction will see Lundin Mining receive 275.2 million Talon shares, representing 18.4 percent of Talon’s outstanding equity, with a total implied value of approximately US$83.7 million based on recent trading prices.

Following the deal, Lundin Mining’s stake in Talon will rise to 19.99 percent.

The Eagle mine, acquired by Lundin Mining in 2013, has produced more than 194,000 metric tons of nickel and 185,000 metric tons of copper. It had generated over US$3.2 billion in revenue as of the third quarter of 2025.

The strategic rationale for the deal centers on consolidating US nickel-copper assets under a single operator, while allowing Lundin Mining to concentrate on its larger-scale copper operations in Brazil and Chile.

Talon will operate the Eagle mine and Humboldt mill while adding new exploration opportunities, including the Tamarack project and its newly discovered Vault zone. Discovered through recent drilling, Vault features 47.33 meters of 11.01 percent nickel and 11.4 percent copper, as well as platinum-group metals.

“The combination of Talon and Eagle will create a pure-play US nickel company anchored by the Eagle mine, the only primary nickel mine currently operating in the United States,” said Lundin Mining President and CEO Jack Lundin.

“This transaction unlocks meaningful synergies, including the opportunity to leverage the Humboldt Mill as a shared, centralized processing facility,’ the executive added.

Darby Stacey, who has managed Eagle mine operations since commissioning, will assume the role of CEO and director of Talon. Lundin Mining will nominate Jack Lundin and Juan Andrés Morel to Talon’s reconstituted 10 member board.

The deal also includes arrangements such as a production payment agreement for non-Eagle ore processed at the Humboldt mill, transitional services provided by Lundin Mining and investor rights protections.

The transaction is expected to close in early January 2026, pending approval from the TSX and customary closing conditions. Talon will continue to trade on the TSX under the symbol TLO.

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

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Erika Kirk welcomed rapper Nicki Minaj as the surprise guest for a Q&A at Turning Point USA’s AmericaFest on Sunday.

The ‘Beez in the Trap’ singer previously teamed up with the Trump White House, speaking at the United Nations in November to raise awareness about persecution against Christians in Nigeria. Rumors had grown that Minaj would make an appearance at AmericaFest, but it was not confirmed until she went on stage Sunday.

‘I’m honored to be here. I’m honored to be here,’ Minaj said after Kirk welcomed her to the stage.

She went on to praise both President Donald Trump and Vice President JD Vance, saying they are politicians who have an ‘uncanny’ ability to relate to the American people.

‘I love both of them,’ she said of the two leaders.

Despite previously supporting Democrats like Barack Obama and Hillary Clinton, Minaj has increasingly shown support for Trump lately.

On Nov. 1, Minaj posted a screenshot of a Trump Truth Social post where he said, ‘Christianity is facing an existential threat in Nigeria.’

She wrote, ‘Reading this made me feel a deep sense of gratitude. We live in a country where we can freely worship God. No group should ever be persecuted for practicing their religion.’

Minaj continued, ‘We don’t have to share the same beliefs in order for us to respect each other. Numerous countries all around the world are being affected by this horror & it’s dangerous to pretend we don’t notice.’

She thanked the ‘President & his team for taking this seriously. God bless every persecuted Christian. Let’s remember to lift them up in prayer.’

She has also repeatedly attacked California Gov. Gavin Newsom over his stance on transgender children.

Kirk has stepped in as the chairwoman and CEO of Turning Point USA since the murder of her husband, late Turning Point USA CEO Charlie Kirk, in September.

Kirk spoke at the conservative AmFest on Thursday, telling the crowd, ‘Here’s what I’ve learned the most in these last three months is that my husband, he deeply mattered on a multitude of levels, so much so that it proved even more once he was assassinated, how much of a peacemaker he was and how much of a coalition builder he was.’

She added that both her husband and she would choose fight mode over flight in any situation. 

‘You don’t retreat,’ she said. ‘Charlie would go wherever he needed to go, and I’m the same exact way … And you’ll learn that about me the more you get to know me. I know I’m new here, I’m new here, but you’ll learn.’

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