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The True Value of Olympic Gold: Beyond Metal and Market Prices

As organizers award the medals for the Milan Cortina 2026 Winter Olympics, fans and spectators alike may have pondered a singular question at some point: how much is an Olympic gold medal actually worth?

The short answer is far less—and far more—than most people assume.

How is an Olympic gold medal made, and what is it worth?

Despite the name, Olympic gold medals are not made of solid gold. Under International Olympic Committee rules, they are primarily composed of silver and plated with a thin layer of gold.

Still, with gold prices now hovering at historic highs, even the thin coating carries more value than it once did.

Using the official size and weight specifications for the Milan Cortina 2026 medals, precious metals firm Dillon Gage calculated what a gold medal would be worth if it were cast entirely in solid gold.

Each Milan Cortina medal measures 80 millimeters in diameter and 10 millimeters thick. Based on those dimensions, Dillon Gage estimates a medal of that size would have a volume of approximately 47.6 cubic centimeters and would contain about 919 grams of gold if produced entirely from the metal.

At the current spot gold price of US$5,061.45 per troy ounce, that equates to roughly US$149,600 in intrinsic metal value alone, all before factoring in craftsmanship or symbolism.

But this is a hypothetical scenario. The actual gold medal that will hang around an athlete’s neck in Italy will contain 500 grams of .999 fine silver and just 6 grams of .9999 gold plating.

Using current spot prices of gold at US$5,061.45 per troy ounce and silver at US$87.00 per troy ounce, the combined intrinsic metal value of a 2026 Olympic gold medal comes to approximately US$2,375.

A silver medal, made of 500 grams of .999 silver, carries a metal value of about US$1,402 at today’s prices.

A bronze medal, composed of 420 grams of copper priced at roughly US$5.90 per pound, has a melt value of about US$5.46.

“The value of gold medals is a curious inquiry we receive, especially around the time of the Olympics,” said Terry Hanlon, president of Dillon Gage Metals. “It’s one of the most recognizable medals in the world, so it’s natural for people to wonder what it’s made of and what it’s actually worth. While Olympic gold medals are not solid gold, the silver content alone carries far more value today than it did just a few years ago, reflecting how much precious-metal markets have changed.”

The medals themselves were designed by a multidisciplinary team led by Raffaella Paniè and produced by the Italian State Mint and Polygraphic Institute (IPZS). Their split-surface design symbolizes the union of Milan and Cortina, as well as the shared effort behind every Olympic achievement.

Precious metals on the rise

Still, as eye-catching as the design may be, the math behind the medals offers a telling snapshot of today’s precious metals market.

When the Paris 2024 Olympic medals were unveiled two years ago, gold was trading around US$2,400 per troy ounce. At that time, the intrinsic metal value of a gold medal was under US$1,000.

Today, gold prices have more than doubled. The theoretical value of a solid-gold Milan Cortina medal now approaches US$150,000, and even the thin six-gram plating layer carries over US$975 in gold value alone.

The surge reflects broader trends in global markets where gold has rallied amid inflation concerns, geopolitical tensions, and rising investor demand for safe-haven assets.

Silver has also strengthened, contributing significantly to the base value of Olympic medals that are largely silver by weight.

But what is it really worth?

Yet despite the fun computation experiment, their actual worth undeniably lies elsewhere: the years of training, the sacrifices, the split-second finishes, and the history attached to standing atop a podium as the world watches.

By the time the flame is lit in Milan and Cortina, more than 5,000 athletes will compete for a place in Olympic history.

While its actual value will technically be worth a few thousand dollars in weight, for the world-class athletes showcasing their prowess, each medal is priceless in their own right.

No matter how high gold prices climb, the opportunity to win on the Olympic stage remains beyond calculation.

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

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Binding Option to Acquire 90% of Advanced Pomme REE Project in Quebec, Partnering with Metallium

New Frontier Minerals Ltd (LSE and ASX: NFM) is pleased to announce that it has entered into a binding option and earn-in agreement providing NFM with the right to acquire a majority (90%) interest in the Pomme REE Project from Australian-listed company Metallium (ASX: MTM), which is located approximately 500 km northwest of Montréal in Québec around 100 km from the service town of Lebel-sur-Quévillon. The Pomme Project consists of 43 mineral claims, covering 2,400 ha. NFM holds the exclusive and binding option to acquire 90% of the Pomme REE-Nb project.

Highlights

  • Binding option and staged earn-in agreement executed to acquire 90% of the Pomme Project, which is a large carbonatite-hosted Rare Earth Element (REE) and Niobium (Nb) Project in Québec
  • Strategic alignment and acquisition from Metallium Limited (ASX: MTM) deepens the Harts Range vertical integration1 and adds a complementary Canadian asset to create a western world jurisdictional partnership
  • Metallium to assist as processing and technology partner, supporting metallurgical test work and downstream development
  • Initial activities will target conventional metallurgical studies work and Flash Joule Heating (FJH) test work on existing drill samples to assess the potential for upgrading REE mineralisation
  • Limited wide spaced scout drilling undertaken to date with high grade known mineralisation and large areas remaining untested from reconnaissance drilling
  • Pomme REE Carbonatite key historical intercepts2,8 include:
    • Drillhole POM-23-03: 398m @ 0.54% TREO & 0.05% Nb2O5 from 16m, including:
      • 30.5m @ 1.13% TREO & 0.03% Nb2O5 (from 311.5m) including
        • 26.5m @ 1.45% TREO & 0.02% Nb2O5
      • 51m @ 0.92% TREO & 0.06% Nb2O5 (from 216m) including
        • 9m @ 1.21% TREO & 0.03% Nb2O5 and
        • 8.5m @ 1.62% TREO & 0.03% Nb2O5
      • 36m @ 0.92% TREO & 0.06% Nb2O5 (from 174m) including
        • 18m @ 1.16% TREO & 0.03% Nb2O5
    • Drillhole POM-23-01: 513m @ 0.33% TREO & 0.08% Nb2O5 from 32m, including:
      • 17.5m @ 0.68% TREO & 0.08% Nb2O5 (from 228.6m) including
        • 7.6m @ 0.9% TREO & 0.02% Nb2O5, and
    • 94.8m @ 0.55% TREO & 0.05% Nb2O5 (from 333.5m) including
      • 4.5m @ 1% TREO & 0.02% Nb2O5, and
      • 4.9m @ 1.1% TREO & 0.02% Nb2O5, and
      • 4.25m @ 1.28% TREO & 0.02% Nb2O5, and
      • 17m @ 0.72% TREO & 0.06% Nb2O5
  • The project comprises easily accessible claims via logging roads, has access to hydro-electric power, relatively flat topography, and is supported by extensive mining infrastructure and services2
  • Low cost upfront consideration A$100,000 cash and A$200,000 in shares with contingent payments to earn a majority project interest through staged investment and technical milestones
  • Government support and existing arrangements with local Cree First Nations of Waswanipi (CFNW) community2
  • NFM (OTCQB:NFMXF) has engaged New York-based Viriathus Investor Advisory to expand its profile and actively promote the Company to US investors and capital markets

Chairman Gerrard Hall commented: ‘This transaction materially advances NFM’s critical minerals strategy. Pomme is a large, carbonatite-hosted REE system in a proven Québec district, with historical drilling having already confirmed scale and continuity. The earn-in structure provides a capital-efficient pathway for growth, while early integration of Metallium as processing and technology partner further enhances the opportunity. The Board believes Pomme’s scale, location and upside strongly position NFM to deliver meaningful shareholder value.’

John Hannaford, Chairman of Metallium, said: ‘We are delighted to partner with NFM in advancing and unlocking the full potential of the Pomme rare earths project. New Frontier brings strong exploration capability and a disciplined, value-driven approach to discovery, which we believe can materially enhance the scale and quality of the mineralised system. When combined with Metallium’s proprietary processing technologies and a comprehensive metallurgical test-work program, this partnership has the potential to support value uplift across both the resource and downstream development pathways.’

POMME CARBONATITE REE PROJECT

The Project is located approximately 500 km northwest of Montréal in Québec, around 100 km from the service town of Lebel-sur-Quévillon, approximately 50 km west of the Waswanipi Cree First Nation community, and benefits from easy access via established logging roads (Figure 1)2. The Project comprises 43 mineral claims, covering approximately 2,400 ha area and is located 7km from the world class Montviel Deposit, which has a total Indicated and Inferred resource of 266 Mt @ 1.46% TREO and 0.14% Nb2O5.

Figure 1: Regional location map showing Pomme Project, in Québec, Canada2

MTM Critical Metals (a 100% subsidiary of ASX:MTM) has completed a 13-hole diamond drilling program totalling approximately 5,718 metres at its Pomme Rare Earth Element and Niobium Project in Québec, Canada2. Carbonatite-hosted REE-Nb mineralisation was intersected in every drill hole, confirming the presence of a large, laterally extensive mineralised system exceeding 2 km² that remains open at depth (Figure 2).

The historic work program has significantly advanced the geological understanding of the complex, with early interpretations indicating that higher-grade mineralisation occurs within a ring structure surrounding a magnetic ultramafic carbonatite core.

Drill holes POM-23-03, POM 23-01 and POM 23-07 to the southwest of the mineralised carbonatite returned broad mineralised intervals with multiple high-grade TREO intersections, supporting strong geological similarities to the nearby world-class Montviel carbonatite deposit.

Importantly, large portions of this prospective ring structure remain untested due to the broad drill spacing, presenting clear potential for further discovery through follow-up drilling.

Figure 2: MTM scout drilling at the Pomme Project area overlain on airborne magnetic image (TMI, 1VD)

STRATEGY AND DEVELOPMENT OPPORTUNITY

The Pomme Project provides NFM with a highly capital-efficient, low-risk entry into a strategically located Canadian rare earth asset via a two-year option structure requiring upfront consideration of A$100,000 in cash and A$200,000 in NFM shares and minimum annual expenditure of A$100,000 per annum during the option period. This staged earn-in framework enables NFM to progressively earn a majority (90%) interest through defined technical and investment milestones, significantly limiting upfront capital exposure while preserving substantial upside.

  1. Initial work programs will focus on conventional metallurgical test work alongside the application of Metallium’s proprietary Flash Joule Heating (FJH) technology to existing drill core, targeting the production of upgraded rare earth concentrates and early validation of a scalable, low-cost processing pathway that has the potential to materially enhance project economics.
  2. The Pomme Project presents compelling exploration upside, having been subject to only limited, widely spaced drilling to date, with drill lines approximately 500 metres apart2. Despite this early-stage drill density, high-grade rare earth element intersections have already been identified within a large, laterally extensive carbonatite system, highlighting the potential for significant growth through follow-up drilling targeting near surface higher grade zones of rare earth mineralistion.

The existing results indicate that higher-grade zones of mineralisation remain open, providing New Frontier Minerals with a strong opportunity to materially expand the scale and grade of mineralisation through systematic infill and step-out drilling programs.

METALLIUM TECHNOLOGY PARTNERSHIP

The acquisition deepens the Harts Range vertical integration with MTM1, adds a highly complementary Canadian asset, and creates a compelling Western-world partnership with MTM across Australia and Canada, delivering value for shareholders.

NFM’s binding commercial framework with Metallium also establishes a strategic technology partnership that is directly applicable to the advancement of the Pomme REE-Nb Project in Québec. Under this framework, MTM’s proprietary Flash Joule Heating (FJH) technology has demonstrated encouraging sighter beneficiation results on raw rare earth ore, producing high-grade, Dy/Tb-rich concentrates without conventional flotation, acid leaching or reagent-intensive processing.

The REE concentration enhancement and impurity rejection results observed through the aforementioned FJH test work indicate potential to support alternative downstream processing pathways for carbonatite-hosted rare earth projects such as Pomme, compared to conventional techniques. Alignment with MTM provides NFM with early integration of advanced metallurgical test work, access to MTM’s Texas Technology Campus for testing, and a clear potential pathway to Western-aligned rare earth supply chains, including U.S. magnet and defence markets, reinforcing the strategic value of the Pomme Project within a vertically integrated rare earth development strategy.

NEXT STEPS

Preliminary metallurgical test work

Selection of diamond drill core for characterisation tests and accelerate metallurgical assessment on existing diamond core samples, utilising conventional metallurgical test work and tailored MTM Flash Joule Heating (FJH) processing technology to beneficiate and upgrade REE sample.

Model geology, drilling and target high-grade mineralisation

Integration of geological logging, assay results and geophysics into 3D model and identification of continuous higher grade zones for follow-up drilling.

OPTION AND EARN-IN TERMS

The Pomme Project consists of 43 mineral claims, covering 2,400 ha. New Frontier Minerals holds the exclusive and binding option to acquire 90% of the Pomme REE-Nb project from Metallium.

Key Terms Summary – Pomme Rare Earth Project Option & Earn up to 90% interest in the project tenements from Metallium Ltd (via its option to acquire 100% of Critical Element Exploration Pty Ltd, holder of the GeoMega option).

Option Terms and Earn-in Terms

Option Fee:

  • A$100,000 cash (A$50,000 already paid as an exclusivity deposit)
  • A$200,000 in NFM shares, (issued at 5-day VWAP, 6-months escrow)
  • Option Period: Commences on access to historic drill samples for 24-month duration with exclusive rights to manage exploration and technical work during the option period

Stage 1 – Option Exercise (Initial Earn-In)

Upon exercise of the option at any time during the Option Period (subject to conditions precedent), NFM must pay the following option exercise fee:

  • Cash: A$150,000
  • Equity: A$200,000 in NFM shares (20-day VWAP, 6-month escrow)Result: Entry into Joint Venture and commencement of staged earn-in
  • Minimum annual expenditure of A$100,000 per annum

Exercise of the Option is conditional upon the satisfaction (or waiver as applicable) of the following conditions precedent:

  • Due diligence: completion of financial, legal and technical due diligence on the Tenements, to the absolute satisfaction of NFM;
  • Third party approvals: the Parties obtaining all third party approvals and consents, necessary to lawfully complete the matters set out in this Agreement;
  • Deeds of assignment and assumption: MTM, NFM executing a deed of assignment and assumption in relation to all material agreements;
  • Joint Venture Agreement: the Parties entering into a definitive Joint Venture Agreement consistent with the terms and conditions set out in the binding Agreement;
  • MTM and/ or its subsidiaries being the 100% legal and beneficial owner of the Tenements; and
  • Technology Licence Agreement: MTM and NFM entering into a definitive Technology Licence Agreement consistent with the terms and conditions set out in the binding Agreement;
  • (together, the Conditions Precedent).

Stage 2 – JORC Resource Milestone (within 3 years)

  • Minimum Spend: A$2.0 million
  • Interest Earned: 80% project interest
  • Milestone Payment: A$250,000 cash and A$250,000 in NFM shares (20-day VWAP, 6-month escrow) upon earning an 80% interest

Stage 3 – Pre-Feasibility Study Milestone (within 5 years)

  • Minimum Spend: A$3.0 million
  • Interest Earned: 90% project interest
  • Milestone Payment: A$250,000 cash and A$250,000 in NFM shares (20-day VWAP, 6-month escrow) upon earning a 90% interest

Residual Interest & FJH Royalty

  • Vendor retains 10% free-carried interest to DFS
  • If diluted below 10%, interest converts to a 1.5% NSR royalty on material processed through Metallium’s FJH facility
  • Existing third-party royalties (GeoMega/Niogold) remain in place

Technology Alignment

  • Metallium retains ownership of its Flash Joule Heating (FJH) processing technology
  • Parties may enter into a separate technology licence agreement, including per-tonne fees, annual licence fees, and royalties (commercial terms to be negotiated)

About New Frontier Minerals

New Frontier Minerals Limited is an Australian-based focussed explorer, with a strategy to develop multi-commodity assets that demonstrate future potential as an economic mining operation. Through the application of disciplined and structured exploration, New Frontier has identified assets deemed core and is actively progressing these interests up the value curve. Current focus will be on advancing exploration activity at the Harts Range Niobium, Uranium and Heavy Rare Earths Project which is circa 140km north-east from Alice Springs in the Northern Territory.

Other interests include the NWQ Copper Project, situated in the copper-belt district circa 150km north of Mt Isa in Queensland.

New Frontier Minerals is listed on the LSE and ASX under the ticker ‘NFM’.

Competent Persons Statement

The scientific and technical information in this announcement, which relates to exploration results, preliminary sequential metallurgical results and the geology of the deposits described, is based on information compiled and approved for release by Mark Biggs. Mark Biggs is a Member of The Australasian Institute of Mining and Metallurgy (AusIMM Member # 107188) and meets the requirements of a Competent Person as defined by the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code 2012 Edition). Mark Biggs has 35 years of experience relevant to Rare Earth Elements (REE), industrial mineral copper mineralisation types, as well as expertise in the quality and potential mining methods of the deposits under consideration. Additionally, he has 25 years of experience in the estimation, assessment, and evaluation of exploration results and mineral resource estimates, which are the activities for which he accepts responsibility. He also successfully completed an AusIMM Online Course Certificate in 2012 JORC Code Reporting. Mark Biggs is a consultant with ROM Resources and was engaged by New Frontier Minerals Limited to prepare the documentation for several prospects, specifically those within the Harts Range Prospects upon which the Report is based.

Furthermore, the full nature of the relationship between himself and New Frontier Minerals Limited has been disclosed, including any potential conflicts of interest. Mark Biggs is a director of ROM Resources, a company that is a shareholder of New Frontier Minerals Limited, and ROM Resources provides occasional geological consultancy services to New Frontier Minerals Limited. The Report or excerpts referenced in this statement have been reviewed, ensuring that they are based on and accurately reflect, in both form and context, the supporting documentation relating to exploration results and any mineral resource estimates. The release of the Report and this statement has been consented to by the Directors of New Frontier Minerals Limited. Mr Biggs consents to the inclusion in this announcement of the matters based on his information and supporting documents in the form and context in which it appears.

Forward Looking Statements

Certain information in this document refers to the intentions of New Frontier Minerals Ltd, but these are not intended to be forecasts, forward-looking statements, or statements about future matters for the purposes of the Corporations Act or any other applicable law. The occurrence of events in the future is subject to risks, uncertainties and other factors that may cause New Frontier Minerals Ltd’s actual results, performance, or achievements to differ from those referred to in this announcement. Accordingly, New Frontier Minerals Ltd, its directors, officers, employees, and agents, do not give any assurance or guarantee that the occurrence of the events referred to in this announcement will occur as contemplated. The interpretations and conclusions reached in this announcement are based on current geological theory and the best evidence available to the authors at the time of writing. It is the nature of all scientific conclusions that they are founded on an assessment of probabilities and, however high these probabilities might be, they make no claim for complete certainty. Any economic decisions that might be taken based on interpretations or conclusions contained in this announcement will therefore carry an element of risk. The announcement may contain forward-looking statements that involve several risks and uncertainties. These risks include but are not limited to, economic conditions, stock market fluctuations, commodity demand and price movements, access to infrastructure, timing of approvals, regulatory risks, operational risks, reliance on key personnel, Ore Reserve and Mineral Resource estimates, native title, foreign currency fluctuations, exploration risks, mining development, construction, and commissioning risk. These forward-looking statements are expressed in good faith and believed to have a reasonable basis. These statements reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information. Should one or more of the risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this announcement. No obligation is assumed to update forward-looking statements if these beliefs, opinions, and estimates should change or to reflect other future developments.

Source

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Copper Quest Announces Securities for Debt Settlement

Copper Quest Exploration Inc. (CSE: CQX,OTC:IMIMF; OTCQB: IMIMF; FRA: 3MX) (‘Copper Quest’ or the ‘Company’) announces that it has entered into a securities for debt settlement agreement dated February 11, 2026 (the ‘Agreement’) with a professional advisor of the Company.

Pursuant to the Agreement, the Company has agreed to settle debt in the amount of $113,405.28 through the issuance of 872,348 units (each, a ‘Unit‘) at a deemed price of $0.13 per Unit, whereby each Unit shall be comprised of one (1) common share in the capital of the Company (each a ‘Share‘) and one (1) Share purchase warrant (each whole, being a ‘Warrant‘). Each Warrant will be convertible into an additional Share (a ‘Warrant Share‘) at an exercise price of $0.165 per Warrant Share and will expire on the date that is two (2) years following the date of issuance (the ‘Expiry Date‘). The Expiry Date shall be subject to acceleration should the closing price of the Shares on the Canadian Securities Exchange (or any such other stock exchange in Canada as the Shares may trade at the applicable time) equal or exceed $0.50 for ten (10) consecutive trading days at any time from the date which is 4 months following their date of issue, the Company may accelerate the expiry date of the Warrants such that the Warrants shall expire on the date which is 30 calendar days following the date a news release is issued by the Company announcing the accelerated expiry date of the Warrants.

The Agreement and the issuance of the securities thereunder are subject to the approval of the CSE. The securities will be subject to a hold period of four months and one day pursuant to CSE policies and applicable securities laws.

About Copper Quest

The company’s land holdings comprise 7 projects that span over 45,000 hectares in great mining jurisdictions of Canada and the USA. Copper Quest is committed to building shareholder value through acquisitions, discovery-driven exploration, and responsible development of its North American critical mineral portfolio of assets. The Company’s common shares are principally listed on the Canadian Stock Exchange under the symbol ‘CQX’. For more information on Copper Quest, please visit the Company’s website at www.copper.quest.

Copper Quest has a 100% interest in the past-producing Alpine Gold Mine located approximately 20 kilometers northeast of the City of Nelson British Columbia, spanning 4,611.49 hectares with a 2018 National Instrument 43-101 Standards of Disclosure for Mineral Projects historical inferred resource of 268,000 tonnes, estimated using a cut-off grade of 5.0 g/t Au and an average grade of 16.52 g/t Au, that represents an inferred resource of 142,000 oz of gold (McCuaig & Giroux, 2018)*. Apart from the Alpine Mine itself the property hosts 4 other less explored significant vein systems including the past-producing King Solomon vein workings, the Black Prince and the Cold Blow veins system, and the Gold Crown vein system. *The Company has not yet completed sufficient work to verify the 2018 historic inferred resource results.

Copper Quest has a 100% interest in the road accessible Stars Porphyry Copper-Molybdenum Property, spanning 9,693 hectares in central British Columbia’s Bulkley Porphyry Belt with Tana Zone discovery drill intersection highlights of 0.466% Cu over 195.07m* in drill hole DD18SS004 from 23.47m, 0.200% Cu over 396.67m* in drill hole DD18SS010 from 29.37m, and 0.205% Cu over 207.27m* in drill hole DD18SS015 from 163.98m. This highly prospective, approximately 5 X 2.5 kilometer annular magnetic anomaly is interpreted to represent an altered monzonite intrusion and surrounding hornfels.

Copper Quest has a 100% interest in the road accessible Kitimat Copper-Gold Property, spanning 2,954 hectares within the Skeena Mining Division of northwestern British Columbia located northwest of the deep-water port community of Kitimat, British Columbia. The property benefits from exceptional infrastructure, being within 10 km of tidewater, 1.5 km of rail, and 6 km of high-voltage hydroelectric transmission lines. Exploration on the Kitimat property dates to the late 1960s, with the most significant historical work conducted by Decade Resources Ltd. (2010), which completed 16 diamond drill holes totaling 4,437.5 meters in the Jeannette Cu-Au Zone, and drill intersection highlights of 1.03 g/t Au, 0.54% Cu over 117.07 m in Hole J-7 from 1.52 m, 1.00 g/t Au, 0.55% Cu over 103.65m in Hole J-1 from 9.15 m, 0.80 g/t Au, 0.45% Cu over 107.01m in Hole J-2 from 6.10 m, and 0.41 g/t Au, 0.33% Cu over 112.20m in Hole J-8 from 11.89 m.

Copper Quest has a 100% interest in the Nekash Copper-Gold Project, a porphyry exploration opportunity located in Lemhi County, Idaho, USA, along the prolific Idaho-Montana porphyry copper belt that hosts world-class systems such as Butte and CUMO. The project is fully road-accessible via maintained U.S. highways and forest service roads and consists of 70 unpatented federal lode claims covering 585 hectares.

Copper Quest has a 100% interest in the road accessible Stellar Property, spanning 5,389-hectares in British Columbia’s Bulkley Porphyry Belt contiguous to the Stars Property.

Copper Quest has a 100% interest in the Thane Project located in the Quesnel Terrane of Northern British Columbia spanning over 20,658 hectares with 10 priority targets identified demonstrating significant copper and precious metal mineralization potential.

Copper Quest has an earn-in option of up to 80% and joint-venture agreement on the road accessible Rip Porphyry Copper-Molybdenum Project, spanning 4,700-hectares located in the Bulkley Porphyry Belt in central British Columbia.

On behalf of the Board of Copper Quest Exploration Inc.

Brian Thurston, P.Geo.
Chief Executive Officer and Director
Tel: 778-949-1829

For further information contact:
Investor Relations
info@copper.quest

https://x.com/CSECQX
https://ca.linkedin.com/company/copper-quest

Forward Looking Information

This news release contains certain ‘forward-looking information’ and ‘forward-looking statements’ (collectively, ‘forward-looking statements‘) within the meaning of applicable securities legislation. All statements, other than statements of historical fact included herein, including without limitation, future operations and activities of Copper Quest, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as ‘expects’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘potential’, ‘possible’, and similar expressions, or statements that events, conditions, or results ‘will’, ‘may’, ‘could’, or ‘should’ occur or be achieved. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, risks associated with possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of exploration results, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company’s exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company’s business and prospects. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. The Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.

The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this press release, and does not accept responsibility for the adequacy or accuracy of this release.

News Provided by GlobeNewswire via QuoteMedia

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RUA GOLD Announces Uplisting to Toronto Stock Exchange

Rua Gold INC. (TSXV: RUA,OTC:NZAUF) (OTCQB: NZAUF) (‘Rua Gold’ or the ‘Company’) is pleased to announce that the Company will be uplisting to the Toronto Stock Exchange (the ‘TSX’). The common shares of the Company (the ‘Common Shares’) will be voluntarily delisted from the TSX Venture Exchange effective as of close of market on Friday, February 13, 2026, and will commence trading on the TSX effective at the opening of the market on Tuesday, February 17, 2026 under its current ticker symbol, ‘RUA’.

Robert Eckford, CEO of Rua Gold, commented: ‘Graduating to the TSX is a significant milestone for Rua Gold. The uplisting will enhance our visibility in the capital markets and enable us to continue to attract key institutional and retail investors as we continue to develop the Reefton Project and Glamorgan Project in New Zealand.’

Rua Gold will continue to remain a ‘reporting issuer’ under applicable Canadian securities laws, and the Common Shares will also remain listed on the OTCQB under the symbol ‘NZAUF’. Shareholders are not required to take any action in connection with the TSX uplisting.

About Rua Gold

Rua Gold is an exploration company, strategically focused on New Zealand. With decades of expertise, their team has successfully taken major discoveries into producing world-class mines across multiple continents. The team is focused on maximizing the asset potential of Rua Gold’s two highly prospective high-grade gold projects.

The Company controls the Reefton Gold District as the dominant landholder in the Reefton Goldfield on New Zealand’s South Island with over 120,000 hectares of tenements, in a district that historically produced over 2Moz of gold grading between 9 and 50g/t.

The Company’s Glamorgan Project solidifies Rua Gold’s position as a leading high-grade gold explorer on New Zealand’s North Island. This highly prospective project is located within the North Islands’ Hauraki district, a region that has produced an impressive 15Moz of gold and 60Moz of silver. Glamorgan is adjacent to OceanaGold Corporation’s biggest gold mining project, Wharekirauponga.

FOR FURTHER INFORMATION PLEASE CONTACT:
Robert Eckford
Phone: (604) 655-7354
Email: reckford@ruagold.com

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

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 and specifically include statements regarding: the Company’s strategies, expectations, planned operations or future actions including but not limited to exploration programs at its New Zealand properties; the intended listing date on the TSX and the delisting date on the TSX Venture Exchange. 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.

Investors are cautioned that any such forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. A variety of inherent risks, uncertainties and factors, many of which are beyond the Company’s control, affect the operations, performance and results of the Company and its business, and could cause actual events or results to differ materially from estimated or anticipated events or results expressed or implied by forward looking statements. Some of these risks, uncertainties and factors include: general business, economic, competitive, political and social uncertainties; risks related to the effects of the Russia-Ukraine war; risks related to climate change; operational risks in exploration, delays or changes in plans with respect to exploration projects or capital expenditures; the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; changes in labour costs and other costs and expenses or equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry, including but not limited to environmental hazards, flooding or unfavorable operating conditions and losses, insurrection or war, delays in obtaining governmental approvals or financing, and commodity prices. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements and reference should also be made to the Company’s documents filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors.

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 or opinions, or other factors, should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/283786

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WALKER LANE PROVIDES UPDATE ON LATE FILING OF FINANCIAL STATEMENTS

TSX-V: WLR

Frankfurt: 6YL

 Walker Lane Resources Ltd. (TSXV: WLR,OTC:CMCXF) (Frankfurt: 6YL) (the ‘Company’) announces that the Company continues to work diligently toward the completion and filing of the Company’s annual audited financial statements and management’s discussion and analysis for the fiscal year ended September 30, 2025 (the ‘Required Filings’). The Company is actively working on various strategies that they expect will resolve the preparation of the Required Filings as quickly as possible.

The Required Filings are due to be filed by March 30, 2025. In connection with the anticipated delays in making the Required Filings, the Company made an application for a Management Cease Trade Order (‘MCTO‘) under NP 12-203 to the BC Securities Commission, as principal regulator for the Company, and the MCTO was issued on January 29, 2026. The MCTO restricts all trading by the Company’s CEO and CFO in securities of the Company, whether direct or indirect. The MCTO does not affect the ability of persons who are not directors, officers or insiders of the Company to trade their securities. The MCTO will remain in effect until the Required Filings are filed or until it is revoked or varied.

The Company expects to proceed with the filing of its interim first-quarter financial statements shortly after the Required Filings have been completed and submitted.

The Company confirms that it intends to satisfy the provisions of the alternative information guidelines described in NP 12-203 by issuing bi-weekly default status reports in the form of a news release until it meets the Required Filings requirement. The Company has not taken any steps towards any insolvency proceeding and the Company has no material information relating to its affairs that has not been generally disclosed.

About Walker Lane Resources Ltd.

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

For more information, please consult the Company’s filings, available at www.sedarplus.ca.

ON BEHALF OF THE BOARD OF DIRECTORS

Kevin Brewer
President, CEO and Director
Walker Lane Resources Ltd.

Forward Looking Statements

This news release contains certain statements that constitute ‘forward looking information under Canadian securities laws (‘forward-looking statements’). The use of words such as ‘anticipates’, ‘expected’, ‘projected’, ‘pursuing’, ‘plans’ and similar expressions identify forward-looking statements. Forward-looking statements in this news release include statements regarding the application for the MCTO and the completion of the Required Filings and the timing thereof. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release. The forward-looking statements included in this news release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable laws. The reader is cautioned not to place undue reliance on forward-looking statements.

SOURCE Walker Lane Resources Ltd

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2026/13/c0056.html

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Albemarle Lifts Lithium Demand Forecast as Energy Storage Surges

Albemarle (NYSE:ALB) is raising its long-term lithium demand outlook after a breakout year for stationary energy storage, underscoring a shift in the battery materials market that is no longer driven solely by electric vehicles.

The US-based lithium major reported fourth quarter 2025 net sales of US$1.4 billion, up 16 percent year-over-year, with adjusted EBITDA rising 7 percent to US$269 million.

For the full year, Albemarle delivered US$5.1 billion in revenue and US$1.1 billion in adjusted EBITDA, results that CEO Kent Masters said were supported by “strong growth in energy storage and significant cost and productivity improvements.”

But the most consequential update came in the company’s demand outlook.

“We are seeing a diversification of lithium end markets, with stationary storage becoming an increasingly significant demand driver,” Masters told investors during a February 12 conference call, adding that Albemarle has increased its 2030 global lithium demand forecast by 10 percent to a range of 2.8 million to 3.6 million metric tons.

Storage steps into the spotlight

Global lithium demand reached 1.6 million metric tons in 2025, up more than 30 percent year-over-year and in line with Albemarle’s prior projections. Demand growth outpaced supply, tightening inventories and lifting prices into year-end.

For 2026, Albemarle now expects global lithium demand to rise to between 1.8 million and 2.2 million metric tons — growth of 15 to 40 percent — driven by both EV adoption and accelerating deployments of stationary energy storage systems (ESS).

While global EV sales climbed 21 percent in 2025, energy storage was the standout. ESS demand surged more than 80 percent year-over-year, with strong growth across China, North America and Europe.

China, which accounted for roughly 40 percent of ESS shipments, saw demand rise 60 percent. North American shipments jumped 90 percent, reflecting grid stability needs and rising electricity consumption linked to data centers and artificial intelligence. European shipments more than doubled as countries expanded renewables and sought greater energy security.

Demand outside the three major regions grew 120 percent and represented more than 20 percent of global ESS shipments, with Southeast Asia, the Middle East and Australia emerging as key growth markets.

The shift is already visible in Albemarle’s financials. In 2025, energy storage volumes reached 235,000 metric tons of lithium carbonate equivalent, up 14 percent year-over-year and above the high end of the company’s guidance range.

Fourth quarter energy storage net sales rose 23 percent from a year earlier, while segment EBITDA climbed 25 percent, supported by higher lithium pricing and cost improvements.

CFO Neal Sheorey said Albemarle’s updated 2026 scenarios reflect both pricing and operational gains.

Cost discipline, portfolio reset

After weathering a sharp downturn in lithium prices over the past two years, Albemarle has focused on strengthening its balance sheet and lowering its cost base.

In 2025, the company delivered approximately US$450 million in run-rate cost and productivity improvements and is targeting an additional US$100 million to US$150 million in 2026.

Albemarle also announced it will idle operations at its Kemerton lithium hydroxide plant in Western Australia, citing a structural cost gap between Western and Chinese conversion assets.

“There is a gap there between China and the West,” Masters said, pointing to higher labor, power and waste management costs in Australia. Idling the plant is expected to improve adjusted EBITDA beginning in the second quarter, with no impact on sales volumes.

At the same time, Albemarle is streamlining non-core assets.

The company closed the sale of its stake in the Eurocat joint venture in January and expects to complete the sale of a majority stake in its refining catalysts business in the first quarter. Together, the transactions are expected to generate approximately US$660 million in pre-tax proceeds.

“We are committed to maintaining our investment-grade credit profile,” Masters said, adding that deleveraging and disciplined capital allocation remain priorities.

Growth with limited new capital

Despite pulling back on large-scale capital spending, Albemarle expects to deliver a five-year compound annual growth rate of roughly 15 percent in energy storage sales volumes, building on a 25 percent CAGR over the past four years.

Incremental expansions at the Greenbushes mine in Australia, yield improvements at the Salar de Atacama in Chile and higher utilization at the Wodgina joint venture are expected to support growth with minimal additional capital.

Looking ahead, Masters said the company is better positioned to navigate lithium’s still-maturing cycle.

“We’ve been through two cycles since the advent of EVs,” he said, describing the market as early in its development from a commodity perspective.

With stationary storage now emerging as a second structural demand pillar alongside EVs, Albemarle’s revised outlook suggests the lithium market’s next phase will be shaped as much by grid resilience and energy security as by transportation electrification — broadening the base of demand for years to come.

Lithium prices rebound sharply in early 2026

Lithium prices have surged since the start of 2026, underscoring the market’s renewed volatility.

According to Fastmarkets, spot battery-grade lithium carbonate on the seaborne market climbed from about US$11 per kilogram in early December to more than US$16 per kilogram by early January, a jump of nearly 50 percent in a matter of weeks.

The rally has been driven by tightening supply, including delays to the reopening of CATL’s (SZSE:300750,HKEX:3750) Jianxiawo lepidolite mine and maintenance at other production facilities, alongside aggressive restocking tied to long-term contract negotiations.

Speculative buying has amplified the move, with bullish sentiment and geopolitical risk adding to momentum. At the same time, thin spot liquidity reflects a cautious market, as buyers and sellers hesitate to commit amid rapid price swings.

Spodumene prices have followed suit, rising above US$2,000 per metric ton in January, levels not seen since October 2023. The rebound has improved margins for Australian producers, many of whom curtailed output when prices fell below US$900 per metric ton. Sustained pricing at current levels could prompt a wave of mine restarts, potentially easing supply tightness later this year.

Still, Fastmarkets cautioned that prices may be running ahead of fundamentals.

“Lithium prices appear to have moved ahead of the fundamentals, propelled by speculative buying, bullish sentiment and a backdrop of heightened geopolitical risk,” wrote Paul Lusty. “The key takeaway is to brace for more volatility.”

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

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Cardi B’s cameo in Bad Bunny’s Super Bowl halftime show leads to dispute on prediction markets

CHICAGO — Cardi B was part of Bad Bunny’s Super Bowl halftime show. What she did exactly, well, that turned into a perplexing question for two major prediction markets.

At least one Kalshi trader filed a complaint with the Commodity Futures Trading Commission over how the prediction market handled Sunday’s appearance by the Grammy-winning rapper. The result of a similar event contract on Polymarket also drew the ire of some users on that platform.

Prediction markets provide an opportunity to trade — or wager — on the result of future events. The markets are comprised of typically yes-or-no questions called event contracts, with the prices connected to what traders are willing to pay, which theoretically indicates the perceived probability of an event occurring.

The buy-in for each contract ranges from $0 to $1 each, reflecting a 0% to 100% chance of what traders think could happen.

More than $47.3 million was wagered on Kalshi’s market for “ Who will perform at the Big Game? ” A Polymarket contract had more than $10 million in volume.

Celebrities including Pedro Pascal, Karol G and Cardi B during the Super Bowl halftime show on Sunday.Kevin Mazur / Getty Images for Roc Nation

Cardi B joined singers Karol G and Young Miko and actors Jessica Alba and Pedro Pascal on a starry front porch during the halftime spectacle. She danced to the music, but it was unclear whether she was singing along during the show, which included performances by Ricky Martin and Lady Gaga.

Due to “ambiguity over whether or not Cardi B’s attendance at the 2026 Super Bowl halftime show constituted a qualifying ‘performance,’” Kalshi cited one of its rules in settling the market at the last price before trading was paused: $0.74 for No holders and $0.26 for Yes holders. The platform returned all the money to its users.

Polymarket’s contract was resolved as Cardi B had performed, but the yes was disputed. A final decision on the contract is expected to be announced on Wednesday.

In the CFTC complaint — first reported by the Event Horizon newsletter and posted by Front Office Sports — the trader alleges that Kalshi violated the Commodity Exchange Act with how it resolved the Cardi B contract. The trader — a Yes holder — is seeking $3,700.

A CFTC spokesman declined comment on Wednesday.

The Super Bowl capped a big NFL season for prediction markets.

Kalshi reported a daily record high of more than $1 billion in total trading volume on the day of the game, an increase of more than 2,700% compared to last year’s Super Bowl. The season-long total for all Super Bowl winner futures was $828.6 million, up more than 2,000% from last year.

The increased activity on Sunday caused some deposit issues. Kalshi co-founder Luana Lopes Lara posted on X on Monday that the “traffic spike was way bigger than our most optimistic forecasts.” She said the platform had reimbursed processing fees on the effected deposits and added credits to users who experienced delays.

Robinhood Markets highlighted the strength of its prediction markets when it announced its financial results for the fourth quarter and full 2025 on Tuesday.

“I think we are just at the beginning of a prediction market super cycle that could drive trillions in annual volume over time,” CEO Vlad Tenev said during an earnings call. “This year is going to be a big year. Olympics are going on right now. World Cup coming in the summer.”

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Russia agrees to abide by expired New START nuclear arms limits — as long as US does the same

Russia has reportedly agreed to abide by the limits of a nuclear arms pact it reached with the U.S. years ago after the agreement expired last week — as long as Washington does the same.

The New START Treaty’s expiration, which occurred on Feb. 5, leaves the nations with the two largest atomic arsenals with no restrictions for the first time in more than a half-century, The Associated Press reported. The expiration has fueled fears of a possible unconstrained nuclear arms race.

In September, President Vladimir Putin said Russia would abide by the nuclear arms deal for another year after its expiration date as long as the U.S. followed suit, the AP reported. However, President Donald Trump has said he wanted China to be part of a new pact, something that Beijing has rejected, according to the AP.

‘Rather than extend ‘NEW START’ (A badly negotiated deal by the United States that, aside from everything else, is being grossly violated), we should have our Nuclear Experts work on a new, improved, and modernized Treaty that can last long into the future,’ Trump wrote on Truth Social upon the treaty’s expiration.

In response to Fox News Digital’s request for comment on the now-expired treaty, the White House pointed to the president’s Truth Social post.

Russian Foreign Minister Sergey Lavrov spoke to lawmakers about the treaty, saying Moscow would ‘act in a responsible and balanced way on the basis of analysis of the U.S. military policies,’ the AP reported.

Lavrov added that ‘we have reason to believe that the United States is in no hurry to abandon these limits and that they will be observed for the foreseeable future.’

‘We will closely monitor how things are actually unfolding,’ Lavrov said. ‘If our American colleagues’ intention to maintain some kind of cooperation on this is confirmed, we will work actively on a new agreement and consider the issues that have remained outside strategic stability agreements.’

The New START Treaty was signed in 2010 by President Barack Obama and his Russian counterpart, Dmitry Medvedev, and was entered into force on Feb. 5, 2011. 

The treaty gave the U.S. and Russia until Feb. 5, 2018, to meet the central limits on strategic offensive arms. The treaty caps each side at 700 deployed ICBMs, SLBMs and nuclear-capable heavy bombers; 1,550 deployed warheads; and 800 deployed and non-deployed launchers and bombers. The parties were then obligated to maintain the limits as long as the treaty remained in force, which it did until last week.

The expiration of the treaty comes just after a meeting involving U.S. and Russian officials in Abu Dhabi. Axios previously reported that the two nations were closing in on a deal to observe the treaty for at least six months after its expiration. The outlet added that during the six-month period there would be negotiations for a new deal.

The State Department did not immediately respond to Fox News Digital’s request for comment.

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Bondi confirms DOJ has received criminal referral alleging Brennan perjury over Steele dossier

Attorney General Pam Bondi said she received a criminal referral from the House Judiciary Committee alleging former CIA Director John Brennan lied to Congress, confirming the receipt during a hearing before the panel on Wednesday.

Bondi’s was responding to committee Chairman Jim Jordan, R-Ohio, who directly asked the attorney general if Brennan would be indicted. The DOJ has for months been investigating Brennan and several others over the origins of the 2016 Trump-Russia probe.

‘What I can confirm is that we have received a referral from you, Chairman Jordan, to investigate John Brennan,’ Bondi said.

‘His attorneys have made some public statements, but the department is still bound, of course, by our longstanding policy of not discussing matters,’ Bondi said. ‘What I will say today I can’t confirm nor deny whether there’s a pending investigation, but what I will say [is] that no one is above the law. Weaponization has ended.

Jordan’s referral to the DOJ, sent in October, centered on Brennan’s testimony about the Steele dossier, a salacious document containing unverified, negative claims about Trump, and its role in an Obama-era Intelligence Community Assessment on Russia’s efforts to interfere in the 2016 election.

The referral followed CIA Director John Ratcliffe also asking the DOJ to prosecute Brennan over broader conspiracy allegations.

A grand jury subpoenaed Brennan and former FBI officials Peter Strzok and Lisa Page, among others, as part of the DOJ’s investigation, Fox News Digital reported in November. The subpoenas originated from the U.S. District Court for the Southern District of Florida, leading Brennan’s lawyers to accuse the DOJ of forum shopping for Republican-friendly judges.

Rep. Dan Goldman, D-N.Y., chimed in after Bondi answered, alluding to comments Trump has made about targeting his pollical enemies.

‘If we want to know whether Mr. Brennan will be indicted, you should just ask the president,’ Goldman said.

Fox News asked Trump last summer about Brennan after reports first surfaced that the FBI was investigating him and several others involved in what Republicans have widely viewed as a politically motivated effort to undermine Trump’s 2016 election campaign and victory. Trump said at the time that ‘whatever happens, happens.’

‘I think they’re very dishonest people. I think they’re crooked as hell. And, maybe they have to pay a price for that,’ Trump said at the time.

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Israel joins Board of Peace ahead of Netanyahu-Trump meeting

Israel formally joined the Board of Peace on Wednesday ahead of Prime Minister Benjamin Netanyahu’s meeting with President Donald Trump at the White House.

Netanyahu signed the document in the presence of Secretary of State Marco Rubio shortly before his scheduled talk with Trump, marking a diplomatic step as the two leaders prepare to discuss regional security and ongoing conflict in the Middle East.

The prime minister said on X that while the talks would cover several issues, including Gaza, they would ‘first and foremost’ center on negotiations with Iran.

Leaders from 17 countries participated in the initial Gaza Board of Peace charter signing ceremony in Davos, Switzerland, in late January, including presidents and other senior government officials from Latin America, Europe, the Middle East, and Central and Southeast Asia.

Netanyahu was not present at the ceremony, where world leaders signed the founding charter alongside Trump, who was seated at the center of the stage.

His office, however, said he would accept Trump’s invitation to join the Peace Board, following earlier concerns he had raised about the makeup of the Gaza executive board, particularly the roles of Qatar and Turkey.

A handful of other countries were also invited by the White House to join, including Russia, Belarus, France, Germany, Vietnam, Finland, Ukraine, Ireland, Greece and China, among others. Poland and Italy on Wednesday said they would not join.

Netanyahu’s visit to Washington comes as the U.S. expands its military presence in the Middle East while talks with Iran remain ongoing.

Trump has deployed the USS Abraham Lincoln carrier strike group and the USS Michael Murphy, a guided-missile destroyer, as his envoys meet with Iranian officials in Oman.

Other U.S. naval assets, including the USS Bulkeley, USS Roosevelt, USS Delbert D. Black, USS McFaul, USS Mitscher, USS Spruance and USS Frank E. Petersen Jr., are positioned across key waterways surrounding Iran, from the eastern Mediterranean and Red Sea to the Persian Gulf, and Arabian Sea.

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