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President Donald Trump has renewed his call for Rep. Jasmine Crockett, D-Texas, to undergo a cognitive test. 

”Congresswoman’ Jasmine Crockett is a Low (Very!!!) I.Q. Individual, much in the mold of the AOC Plus Three Gang of Country Destroying Morons – Only slightly dumber,’ Trump wrote on TRUTH Social on Monday. 

‘Each of these political hacks should be forced to take a Cognitive Exam, much like the one I recently took while getting my ‘physical’ at our GREAT Washington, D.C., Military Hospital (WR!),’ Trump said. ‘As the doctors said, ‘President Trump ACED it, something that is rarely seen!’ These Radical Left Lunatics would all fail this test in a spectacular show of stupidity and incompetence. TAKE THE TEST!!!

Trump previously said Rep. Alexandria Ocasio-Cortez, D-N.Y., should take a cognitive test in June when the progressive ‘Squad’ leader demanded his impeachment over the U.S. strikes on Iranian nuclear facilities. 

Meanwhile, as the White House pushes Republican states to redistrict mid-cycle ahead of the 2026 midterm elections, Crockett has accused Trump of pushing a ‘white supremacy agenda’ and ‘diluting the voices of people of color.’ The Trump administration asserts that Democratic states have engaged in ‘gerrymandering’ for years and encouraged illegal immigration to boost their congressional influence. 

In Texas, Democratic state lawmakers fled the state in an effort to stop the vote on a GOP redistricting plan that likely would have resulted in Republicans picking up five House seats. 

Crockett has accused Trump of hurling the low IQ insult as a racially-coded tactic to insult ‘people of color,’ including ‘The Breakfast Club’ host Charlamagne tha God. 

‘Newsflash, Wannabe Dictator: I don’t care how many times you shake the Etch A Sketch trying to redraw these lines,’ Crockett wrote on X last week. ‘I’m not disappearing. I’ll be back, still on your behind every step of the way. We’ve already been over this. I’ve got the degrees, the credentials, and the receipts. If you’re looking for ‘low IQ,’ try looking in the mirror – or at your own Cabinet.’ 

Despite the president describing her as having a low IQ, Crockett said Trump has the ‘most incompetent Cabinet in the history of this country,’ referring to the Signal-gate scandal earlier this year. 

Crockett has also dubbed Trump a ‘Temu dictator.’ At a progressive rally in Phoenix, Arizona, earlier this month, the congresswoman said on stage, ‘Donald Trump is a piece of sh–.’ 

‘This is a person who has a problem with people of color. Period,’ she told CNN. ‘I don’t care how many Black MAGA [are] out there with [their] hats, I want to be clear, when we look at who it is that he’s kicking out of this country, it’s people of color.’ 

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President Donald Trump took aim at Ukrainian President Volodymyr Zelenskyy in a press event on Monday over his frustration with the Ukrainian leader’s objection to ‘land swapping.’

‘I get along with Zelenskyy, but, you know, I disagree with what he’s done, very, very severely, disagree. This is a war that should have never happened,’ Trump said, reiterating his belief that the Ukrainian president is in part at fault for Russia’s illegal 2022 invasion.

‘I was a little bothered by the fact that Zelensky was saying, ‘Well, I have to get constitutional approval’,’ Trump said. ‘I mean, he’s got approval to go into war and kill everybody, but he needs approval to do a land swap, because there’ll be some land swapping going on.’

‘I know that through Russia and through conversations with everybody,’ Trump added, noting it was ‘for the good of Ukraine.’

Zelenskyy – who did not declare war on Russia, as Moscow had already invaded, did declare Martial Law on Feb. 24, 2022 with the approval of Ukraine’s parliament, which gave him presidential powers to mobilize a military response — made clear over the weekend that he objected to Trump’s ‘land swapping’ proposal and has repeatedly said it would require a national referendum under the nation’s constitution, not a unilateral decision by him. 

Trump wouldn’t detail what exactly he hopes to get out of the meeting with Putin and described it as a ‘feel-out meeting,’ saying within ‘the first two minutes [he’ll] know exactly whether or not a deal can be made.’

‘I’m going in to speak to Vladimir Putin, and I’m going to be telling him, you got to end this war, you got to end it,’ Trump said, reiterating his belief that if he had won the 2020 election, Putin wouldn’t have invaded Ukraine, saying ‘he wasn’t going to mess with me.’

‘I go into that thing fully loaded right up there, and we’re going to see what happens,’ he continued. ‘It could be a good meeting, and we’ll go a step further. We’ll get it done. 

‘I’d like to see a ceasefire very, very quickly, very quick,’ he continued. ‘And, we’re going to be dealing with the European leaders and, we’re going to be dealing with President Zelensky and hopefully we’re going to have a great success.’

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A Democratic whistleblower told the FBI that Adam Schiff approved leaking classified information in order to discredit President Donald Trump, according to newly-released documents.

The documents, which were obtained by Just The News, were recently handed over to Congress by FBI Director Kash Patel. 

The whistleblower reportedly worked for Democrats on the House Intelligence Committee for over ten years, and reported Schiff’s alleged behavior to the FBI in 2017.

According to the report, the intelligence staffer called the leaking ‘treasonous’ and ‘illegal,’ in addition to being unethical. He was most recently interviewed by the FBI in 2023.

The staffer also said that he personally attended a meeting where Schiff greenlit the leak.

‘When working in this capacity, [redacted staffer’s name] was called to an all-staff meeting by SCHIFF,’ the documents state, per Just The News. 

‘In this meeting, SCHIFF stated the group would leak classified information which was derogatory to President of the United States DONALD J. TRUMP. SCHIFF stated the information would be used to indict President TRUMP.’

‘[The whistleblower] stated this would be illegal and, upon hearing his concerns, unnamed members of the meeting reassured that they would not be caught leaking classified information,’ the report added.

John Solomon, who co-authored the piece with Just The News’ Jerry Dunleavy, appeared on Fox News Channel’s ‘Hannity’ to discuss the report.

‘This is the first of several major leak investigations we’re going to see over the next several days,’ Solomon said. ‘You’re going to see other major people that were clearly identified by the FBI, having leaked classified secrets.’

‘Their own staff turned them in when interviewed by the FBI. Nothing, again, happened,’ he added. ‘It’s a common pattern. The question now is, in Donald Trump’s Justice Department, does that dynamic change?’

Soon after the report was published, Patel shared it on X, saying that the FBI ‘found it [and] declassified it.’

‘Now Congress can see how classified info was leaked to shape political narratives – and decide if our institutions were weaponized against the American people,’ Patel’s post read.

Fox News Digital’s Brooke Curto contributed to this report.

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In a lengthy and beautifully crafted address on Independence Day, July 4, 1821, then-President John Quincy Adams delivered an extraordinarily detailed and learned lesson on the founding of America. It’s one that still deserves repeated and close reading — though much of it will simply not be understood by most Americans today, for it is dense in references to history no longer taught widely in the United States. 

Adams’ most memorable sentences are often quoted:

‘[America] has, in the lapse of nearly half a century, without a single exception, respected the independence of other nations while asserting and maintaining her own. She has abstained from interference in the concerns of others, even when the conflict has been for principles to which she clings, as to the last vital drop that visits the heart. She has seen that probably for centuries to come, all the contests of that Aceldama the European world, will be contests of inveterate power, and emerging right. Wherever the standard of freedom and Independence, has been or shall be unfurled, there will her heart, her benedictions and her prayers be. But she goes not abroad, in search of monsters to destroy. She is the well-wisher to the freedom and independence of all. She is the champion and vindicator only of her own. She will recommend the general cause by the countenance of her voice, and the benignant sympathy of her example.’

The declamation that America ‘goes not abroad in search of monsters to destroy’ is a favorite text of both the pre-World Wars One and Two isolationists in America, but of course both global conflicts reached out and drew the United States into them. 

Now, far, far more than in 1917 and 1941, the assumptions of our sixth president simply no longer apply. 

There is no longer any ‘abroad.’ 

The idea of an ‘abroad’ about which Americans could be either indifferent or at most the subject of a distant approval or remote scorn, is dead.

To repeat: There is no such thing as ‘abroad.’ 

Not even remotely. 

What remained of the concept after Pearl Harbor was shattered by Sputnik in 1957, and then by successive generations of missile technology.  With the rise of hypersonic missiles only fools would believe that there is an ‘abroad’ anywhere on the globe that the United States can disregard. 

Beijing’s hypersonic arsenal can reach Washington, D.C. in two hours or less, and that margin is going to shrink rapidly. Russia’s hypersonic missiles can reach the lower 48 even sooner and Alaska in a blink. 

Other nations will inevitably add to the number of potential adversaries that can change the world via hypersonic missilery and wreck enormous, perhaps Republic-ending damage on the country. 

Of course, America possesses a ‘second strike’ capability deep under the seas in our Ohio-class submarines, and even an enormous fusillade of thousands of hypersonic missiles would be unlikely to cripple all of our B-2s and B-21s or ever missile silo. The United States would take down with it all of the evil powers that combined to strike it first, just as it did from 1941 to 1945. 

But there would be no ‘Marshall Plan’ waiting for anyone or any country on the other side of such an unimaginable catastrophe. Thus it must be deterred. Deterrence is only accomplished by the reality of American military power and the military power of the allies on which it can rely.

To repeat a third time: There is no ‘abroad.’ 

This very dangerous word will only grow more so with the years. President Trump’s decision to destroy the Iranian nuclear weapons program alongside Israel’s blows against that fanatical theocracy’s ballistic missile capability shielded the entire world from the most unstable and terror-addicted regime in the world obtaining the ability to threaten all of the West and beyond with Armageddon. 

For a time, at least, the precise and purposeful application of American military force to the missile and nuclear arsenal of an enemy on the brink of ‘breakout’ kept the number of nuclear powers stable. 

Bravo, President Trump and Prime Minister Benjamin Netanyahu. Whatever criticisms come their way on whatever other subject, the most important mission of their careers is complete. (Though both men may be obliged by the fanatics in Tehran to do it again.)

The West still has enemies, of course, and the most formidable one is the Chinese Communist Party that dominates the People’s Republic of China, and its ruthless leader, Xi Jinping. Xi and the CCP are followed in second place by Xi’s equally ruthless if not quite as powerful ally in Putin’s Russia, not to mention the unstable nuclear powers of North Korea and Pakistan. 

The West’s nuclear arsenal —distributed among our allies Great Britain and France and especially alongside that of Israel and our sometimes friend India— combines with our own prodigious, yet in-need-of-modernization nuclear arsenal to hold the most dangerous enemies at bay. 

There are only four actual superpowers in the world —the quartet of nations that can project nuclear power far beyond their borders and which possess intelligence and espionage capabilities that are unmatched except by each other’s capabilities: The United States and Israel on the side of the West and the PRC and Russia on the side of despotism. All others in the ‘nuclear club’ have limitations imposed by their own chaotic domestic politics or lack of deliverable firepower and the will to use it. 

That’s national security realism in a nutshell. 

When two of the leaders of any of these four nations meet, it is a significant occasion. It is a very good thing that President Trump and Prime Minister Netanyahu have met three times in 2025 and have spoken far more frequently than that. 

Xi and Putin have only met in person twice in this year, but their ‘partnership’ is very close even though Xi is to Putin as Trump is to Netanyahu: the senior partners to their powerful but not nearly as powerful junior partners. 

This is the basic geopolitical structure of the world and only with that understanding of reality can analysts judge what President Trump gets out of his meeting with the Russian tyrant this week —if anything is even made public afterward. It will take months, if not years, to assess what happens this week. 

Putin has attempted to play every American president since Bill Clinton, sometimes successfully, sometimes fooling them only for a time. The temptation to ‘strike a deal’ with Putin is the same as the apple on the forbidden tree in Genesis. That way lies ruin. But sizing up the tree and the apple at close range can have benefits. 

President Trump has met with Putin six times prior to this week and has spoken with him often. The real estate developer-turned-television force-turned president has as much of the skills set anyone could have to deal with such a stone-cold killer as Putin. Trump survived not just two assassination attempts in 2024 but years of lawfare preceded by the plots of the permanent left embedded in our vast administrative state during his first term. 

Trump is as tough and as resilient as any president since Richard Nixon. There will be no hot mic whisperings of weakness, nor will there be blunt assessments spoken like that of former Vice President Dick Cheney: ‘[W]hat I see [in Putin is] a KGB colonel.’

Trump is a realist, just like his friend of old from New York in the 1980s and early 1990s, RN. Trump is as tough as W standing in the ruins of the Twin Towers, as tough as the genuine war hero H.W., as tough as Reagan, Ford and Ike. 

If Trump can bring an end to the savagery underway in Ukraine on terms acceptable to President Zelensky, it will be an achievement greater than his interventions to stop the hostilities between India and Pakistan, the Democratic Republic of the Congo and Rwanda, Thailand and Cambodia and last week’s peace agreement between Armenia and Azerbaijan.   

Trump’s destruction of the Iranian nuclear program is the biggest building block of his legacy, rivaled only by the Abraham Accords.  If he can bring a ceasefire to Central Europe that is acceptable to our allies and the Ukrainian people, it will be the third pillar of his legacy, with the fourth —the rebuilding of the American military into so potent a force that no one, not even China’s Xi, dares to risk a confrontation with us— as his fourth. On top of those four pillars can rest an era of prosperity and renewed American growth and innovation. 

If anyone is hoping for the president to fail in this endeavor as described, they are not patriots but partisans blind to the realities of the world. There are a lot of those sorts of partisans in the U.S., and increasingly our NATO allies are showing themselves to be unreliable. 

Like it or not, the near-term security prospects of the West rest on Trump, and serious people must prefer that to the infirmities of President Biden or the illusions of President Obama. 

Trump has confidence in his own abilities and serious analysts of realpolitik should too. At this point, after ‘Midnight Hammer’ and the other ceasefires, after all of the decade since he came down the escalator, there is very good reason to believe he can achieve as much as any other American at the table with Putin. Anyone hoping for his failure should assess their own mental health. It is in the interests of everyone on the planet that knows no ‘abroads’ that stability break out everywhere, beginning in Alaska this week. 

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The gold price edged higher this week, benefiting from increased investor uncertainty as US tariffs went into effect for dozens of countries on Thursday (August 7).

Rates start at 10 percent and rise as high as 50 percent for countries like Brazil. The US is still in talks with Canada, China and Mexico, its top three trading partners.

Commenting on the news, President Donald Trump took to his social media platform Truth Social, saying that ‘billions of dollars’ will now start flowing into the US.

Aside from that, there are hopes the tariffs will provide a boost for domestic businesses as buyers turn inward. However, critics argue that the levies will be passed on to American consumers who are already dealing with the ongoing effects of inflation.

Going back to gold, the yellow metal has also seen support from strong expectations that the US Federal Reserve will cut interest rates when it meets in September.

This outlook comes after weaker-than-expected July jobs data released last week — only 73,000 jobs were added for the month, and in addition to that the Bureau of Labor Statistics revised down numbers for May and June, saying 258,000 fewer jobs were created.

Trump fired the bureau’s commissioner of labor statistics in response, saying the numbers weren’t accurate. Fed Chair Jerome Powell also found himself in the line of fire, with the president suggesting that he too should be put ‘out to pasture.’

Bullet briefing — Gold revaluation, China buying, streaming deal

Fed publishes gold revaluation article

The Fed turned heads in the resource space this week with the release of an article on gold revaluation. In it, a principal economist looks at ‘rare cases when countries used proceeds from valuation gains on gold and foreign exchange reserves.’

While precious metals market watchers have noted that the Fed publishing research on gold revaluation doesn’t mean it’s going to happen in the US, it’s still seen as significant that the central bank is mentioning it at all.

China snaps up gold, platinum

The People’s Bank of China continued snapping up gold in July, adding to its reserves of the yellow metal for the ninth month in a row. According to Bloomberg, the Asian nation now holds 73.96 million ounces of gold, an increase of 60,000 ounces over the course of the month.

China is also reportedly adding to its platinum holdings, with data from Standard Chartered (LSE:STAN) showing that it brought in 1.2 million ounces in the second quarter.

A separate article from Bloomberg indicates that state-owned entity China Platinum is making most of the purchases, meaning it’s difficult to know who is really buying the metal.

The US is picking up platinum too, while London and Zurich are seeing shortfalls of the metal. With the implied one month lease rate down from over 35 percent last month, but still elevated at 10 percent, experts are calling for continued tightness in the market.

After years of rangebound trading, the platinum price began breaking out in mid-May, eventually surpassing US$1,470 per ounce and reaching highs not seen in over a decade.

First Quantum’s US$1 billion gold stream

First Quantum Minerals (TSX:FM) will receive a US$1 billion upfront cash payment from Royal Gold (NASDAQ:RGLD) under a gold-streaming deal for its Kansanshi mine.

According to First Quantum, the agreement, announced on Tuesday (August 5), will allow it to retain exposure to all of the asset’s copper output and most of its gold production.

Located in Zambia, Kansanshi is the company’s flagship operation, as well as Africa’s largest copper mine. The asset produced about 170,000 metric tons of copper and 105,000 ounces of gold in 2024, with an expansion in the final stages of commissioning.

The amount of gold First Quantum delivers to Royal Gold will be based on its copper output. In addition to the US$1 billion initial payment from Royal Gold, First Quantum will receive 20 percent of the gold spot price for each ounce delivered, with that amount rising to 35 percent in the event that specific milestones are met. The arrangement includes acceleration provisions as well.

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

This post appeared first on investingnews.com

Alkane Resources (ASX:ALK,TSX:ALK) said on August 5 that it has closed its merger with gold- and antimony-focused Mandalay Resources. The all-share transaction was valued at AU$559.1 million.

First announced in April, the deal creates a combined company that is projected to produce about 160,000 gold equivalent ounces in the 2025 fiscal year, with the potential to rise to 180,000 ounces the following year.

Alkane has acquired all of Mandalay’s issued and outstanding common shares, with former Mandalay shareholders and existing Alkane shareholders respectively owning approximately 55 percent and 45 percent of the new entity.

“This merger represents a significant step forward for both companies. By combining our complementary portfolios, we have created a stronger, more resilient platform with the scale and financial flexibility to pursue long-term growth,” said Alkane Managing Director and CEO Nic Earner in a press release.

Alkane began pursuing a TSX listing following the merger announcement. The company began trading on the TSX under the symbol ‘ALK’ on August 7, with the ASX remaining as its primary listing.

Mandalay shares officially delisted from the TSX on August 6, the day after the merger closed.

Australia remains Alkane’s focus, with its Tomingley gold project in New South Wales holding the potential to produce 70,100 ounces of gold this year, forming a substantial part of the company’s projected output.

According to Alkane’s recent Diggers & Dealers presentation, Mandalay’s Costerfield gold-antimony mine, located in Victoria, Australia, is also central to the combined entity’s current focus.

The company said Costerfield is one of the world’s richest gold and antimony mines. It is expected to produce 49,400 gold equivalent ounces during the 2025 fiscal year. Björkal, an open-cut gold mine in Sweden owned by Mandalay, also forms part of the transaction. Its output is projected at 41,400 ounces of gold for 2025.

“With a diversified production base, broader exploration pipeline and enhanced trading liquidity, (we are) well positioned for a market re-rating,” added former Mandalay President and CEO and Frazer Bourchier.

Bourchier is now a non-executive director at Alkane.

The combined company will operate as Alkane and remain headquartered in Perth.

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

While directly holding cryptocurrencies like Bitcoin and Ethereum is a popular option, investors looking for alternatives are clamoring for financial products such as crypto exchange-traded funds (ETFs).

Canada first launched Bitcoin and Ethereum ETFs in 2021. These Canadian Bitcoin and Ethereum ETFs allow investors to place returns in tax-sheltered accounts like tax-free savings accounts or registered retirement savings plans.

“There is a high demand for a Bitcoin product that has all the features that people love about ETFs — that they trade on an exchange, that they’re liquid,” Ross Mayfield, investment strategy analyst at Robert W. Baird & Co., told Bloomberg in mid-2021.

Interest has only increased since then. In the US, Bitcoin ETFs’ net assets surpassed US$100 billion in November 2024, gaining ground on US gold ETFs. Sean Farrell, head of digital asset strategy at Fundstrat, wrote in mid-2023 that the Bitcoin ETF category at large has the potential to surpass the precious metals ETF market in terms of asset value.

‘Bitcoin ETF eventually could become >$300 billion category,’ he said in the note.

Ethereum ETFs have also become a major talking point. Ethereum is the most widely used blockchain technology, and Ether, the digital currency of this platform, is the second largest cryptocurrency after Bitcoin.

In Q2 2025, Canadian ETF firms officially launched North America’s first Solana and XRP spot ETFs, offering investors exposure to the significant altcoins. The launch of XRP ETFs by Canadian firms comes amid increased clarity regarding XRP’s regulatory status in the US.

With that in mind, it’s worth taking a look at the currently available Canadian cryptocurrency ETFs.

The list below includes the biggest 15 crypto ETFs available on the Canadian market sorted by assets under management, and all data presented is current as of July 29, 2025.

1. Purpose Bitcoin ETF (TSX:BTCC)

Assets under management: C$1.66 billion

Billed as the world’s first physically settled Bitcoin ETF, the Purpose Bitcoin ETF launched in February 2021 and is backed by Bitcoin in cold storage. This means the fund allows investors to add and sell Bitcoin with no digital wallet required.

Hosted by Canadian investment company Purpose Investments, the Purpose Bitcoin ETF is backed by 21101.367791 Bitcoins and has a management expense ratio of 1.5 percent.

2. CI Galaxy Bitcoin ETF (TSX:BTCX.B)

Assets under management: C$1.44 billion

Launched in March 2021, the CI Galaxy Bitcoin ETF was born out of a partnership between cryptocurrency leaders Galaxy Fund Management and CI Global Asset Management. Galaxy Fund Management is part of Galaxy Digital, a diversified financial services firm with a focus on digital assets and the blockchain technology sector.

The ETF’s objective is to give investors exposure to Bitcoin via an institutional-quality fund platform, as its holdings are wholly Bitcoin and are kept in cold storage. At 0.4 percent, this fund boasts one of the lowest management fees of all the crypto funds on the market.

3. Fidelity Advantage Bitcoin ETF (TSX:FBTC)

Assets under management: C$1.43 billion

The Fidelity Advantage Bitcoin ETF, launched in November 2021. It offers the security of Fidelity’s in-house cold storage services for its holdings.

While it previously had a management fee of 0.39 percent, the Fidelity Advantage Bitcoin ETF lowered it in January 2025 to an ultra-low management fee of 0.32 percent.

4. CI Galaxy Ethereum ETF (TSX:ETHX.U)

Assets under management: C$693.52 million

The CI Galaxy Ethereum ETF, another collaboration between CI and Galaxy, offers investors exposure to the spot Ethereum price through Ether holdings in cold storage.

The fund launched on April 20, 2021, the same day as two of the other Ether ETFs on this list.

At the time, CI Global Asset Management suggested that “owning Ether is similar to owning a basket of early-stage, high-growth technology stocks.”

The CI Galaxy Ethereum ETF also has a notably low management fee of just 0.4 percent.

5. Evolve Bitcoin ETF (TSX:EBIT)

Assets under management: C$267.64 million

Evolve ETFs partnered with cryptocurrency experts, including Gemini Trust Company, CF Benchmarks, Cidel Bank & Trust and CIBC Mellon Global Services, to launch the Evolve Bitcoin ETF. The fund, which holds its own Bitcoin, has a management fee of 0.75 percent.

Launched a week after the Purpose Bitcoin ETF, its holdings of Bitcoin are priced based on the CME CF Bitcoin Reference Rate, a once-a-day benchmark index price for Bitcoin denominated in US dollars.

6. Purpose Ether ETF (TSX:ETHH)

Assets under management: C$235.71 million

The Purpose Ether ETF is a direct-custody Ether ETF that launched on April 20, 2021. This fund holds 95349.491491 Ether, which it stores in cold storage.

The Purpose Ether ETF offers investors exposure to the daily price movements of physically settled Ether tokens with a management fee of 1 percent.

7. 3iQ Solana Staking ETF (TSX:SOLQ)

Assets under management: C$203.25 million

The 3iQ Solana Staking ETF is designed to provide investors with a user-friendly and secure way to gain exposure to SOL and earn passive rewards through staking. Its launch quickly garnered significant assets under management and attracted investments from SkyBridge Capital and two of ARK Invest’s ETFs.

For the first 12 months after its April 16, 2025, launch, the ETF features a 0 percent management fee. After this initial period, the management fee will be 0.15 percent.

8. Purpose Bitcoin Yield ETF (TSX:BTCY)

Assets under management: C$130.48 million

The Purpose Bitcoin Yield ETF uses a covered call strategy to generate yield for investors, which involves writing call options on Bitcoin. Call options give the buyer an option to purchase an asset at a specific price on or before a specific date.

Its structure allows the fund to earn income from option premiums while providing investors with exposure to Bitcoin’s price movements. Its distributions are paid monthly.

9. Evolve Ether ETF (TSX:ETHR)

Assets under management: C$96.58 million

The Evolve Ether ETF offers investors an easier route to investing in Ether. The fund’s holdings of Ether are priced based on the CME CF Ether-Dollar Reference Rate, a once-a-day benchmark index price for Ether denominated in US dollars.

As with the Evolve Bitcoin ETF, the Evolve Ether ETF has a management fee of 0.75 percent.

10. Evolve Cryptocurrencies ETF (TSX:ETC)

Assets under management: C$86.15 million

The Evolve Cryptocurrencies ETF launched in September 2021 as the first multi-cryptocurrency ETF, providing combined exposure to both Bitcoin and Ether. Its holdings have since expanded to include XRP and Solana.

This product from Evolve ETFs allows investors to diversify their crypto portfolios and provides indirect exposure to the four coins, weighing them by market capitalization and rebalancing its holdings on a monthly basis. Bitcoin makes up the majority of its portfolio.

While this ETF has no management fee, the underlying funds that hold both Bitcoin and Ether have management fees of 0.75 percent plus applicable taxes.

11. Purpose Ether Yield ETF (TSX:ETHY)

Assets under management: C$78.98 million

Like the Purpose Bitcoin Yield ETF, the Purpose Ether Yield ETF offers investors an opportunity to invest in Ether while also generating yield. Purpose Investments lends a portion of its Ether holdings to institutional borrowers and earns interest on those loans.

Investors who purchase shares of this ETF receive a portion of the interest earned in monthly distributions.

12. Purpose XRP ETF (TSX:XRPP)

Assets under management: C$72.12 million

The Purpose XRP ETF started trading on the Toronto Stock Exchange on June 18, 2025, as part of the launch of Canada’s first XRP ETFs. The fund invests directly in XRP, offering investors access to the XRP spot price.

The new asset is offering a 0 percent management fee through February 2026, after which time it will have a management fee of 0.69 percent.

13. Fidelity Advantage Ether ETF (TSX:FETH)

Assets under management: C$71.59 million

Following the successful launch of its Bitcoin fund, Fidelity brought its Advantage Ether ETF to market in September 2022, making this the newest Ether ETF in Canada. Its holdings are stored in Fidelity’s in-house cold storage.

The Fidelity Advantage Ether ETF has a management fee of 0.4 percent.

14. Evolve XRP ETF (TSX:XRP)

Assets under management: C$50.28 million

The Evolve XRP ETF is passively managed, aiming to track the price of XRP without engaging in active trading strategies or derivatives overlays such as covered calls. Its goal is to provide straightforward exposure to XRP’s price movements.

The management fee for the Evolve XRP ETF is 0.75 percent. This was reduced from an initial 1.00 percent effective June 18, 2025, to make it more competitive.

15. Ninepoint Crypto and AI Leaders ETF (TSX:TKN)

Assets under management: C$34.73 million

Previously named the Ninepoint Web3 Innovators Fund, the Ninepoint Crypto and AI Leaders ETF aims to provide a more diversified exposure to the digital asset and emerging tech space compared to holding a single cryptocurrency.

Instead of investing directly in crypto assets like the other ETFs on this list, the fund invests in a diversified portfolio primarily focused on AI and crypto companies and crypto ETFs. Among its crypto ETF holdings, which make up 25 percent of its portfolio, are several of the Bitcoin, Ether and Solana ETFs on this list.

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

This post appeared first on investingnews.com

HIGHLIGHTS:

  • Cygnus has identified numerous drilling targets near the historic high-grade Cedar Bay mine, which produced 400Koz Au and 61Kt Cu at an average of 4% CuEq, 2 within the Chibougamau Project
  • Targets identified through ongoing review of historical data and drill logs using Cygnus’ innovative custom-built AI solution
  • This highly successful approach has already delivered significant gold and copper results at Golden Eye, which will be included in the imminent resource update
  • Cedar Bay closed in 1990 when the price of copper was just US$1,150/t (US$0.52/lb) and gold was US$380/oz, and is located less than 3km from Cygnus’ central processing plant
  • Cygnus aims to significantly increase the remaining unmined high-grade resource at Cedar Bay, which currently stands at 130kt at 8.9% CuEq Indicated and 230kt at 8.5% CuEq Inferred 1
  • Mineralisation is open in numerous directions, with high-grade intersections outside of the current resource, including: 3
    • 3.4m @ 16.8% CuEq (4.8% Cu, 15.2g/t Au & 23.3g/t Ag) (CB-27-9)
    • 2.9m @ 9.6% CuEq (8.4% Cu, 1.0g/t Au & 43.0g/t Ag) (CB-27-6)
  • At Corner Bay, final infill results have been received and will feed into next month’s resource update; These include:
    • 3.5m @ 4.9% CuEq (4.2% Cu, 0.5g/t Au & 27.3g/t Ag) (CB-25-123)
    • 1.8m @ 7.7% CuEq (6.3% Cu, 0.9g/t Au & 45.9g/t Ag) (CB-25-125)
Cygnus Executive Chairman David Southam said : ‘These latest targets, supported by historical drilling data, are located right next to a high-grade mine, making them compelling.

‘Given their potential to help drive resource growth, we are mobilising another rig with the aim of drilling the targets ASAP.

‘In the meantime, we are feeding the final results from Corner Bay into our updated resource model, which is set to be released next month. The resource update, combined with a pipeline of targets and multiple rigs turning, ensures we are maximising our ability to create significant shareholder value.

‘Uncovering these new growth targets through our compilation strategy adds further weight to the work we are doing in the background which has already delivered success at Golden Eye in a mere six months of taking ownership. The Chibougamau camp has successfully produced a significant amount of high-grade gold and copper over a long history with multiple mines that have not been geologically or economically examined in over 35 years’.

Cygnus Metals Limited (ASX: CY5; TSXV: CYG; OTCQB: CYGGF) (‘Cygnus’ or the ‘Company’) is pleased to announce new promising targets next to an historic high-grade mine within its Chibougamau Copper-Gold Project in Quebec.

Cedar Bay sits within the Company’s northern Chibougamau copper-gold Camp, which boasts the vast majority of the historic production in the region, with a number of historic mines and a production record of nearly 1Mt of copper and 3.5Moz of gold. 2

The Cedar Bay mine, which closed in 1990, was historically one of the highest grade deposits in the camp producing 400Koz Au and 61Kt Cu at an average grade of 4.0% CuEq. 2 Various factors contributed to its premature closure, including low metal prices and a shift in focus of the operating company at the time.

Importantly, a high-grade unmined resource remains at Cedar Bay comprised of 130kt at 8.9% CuEq Indicated and 230kt at 8.5% CuEq Inferred Resources. 1 This resource is open in numerous directions, providing Cygnus with potential to significantly grow the resource through systematic exploration drilling. Drill intersections outside of the current resource include: 3

  • 3.4m @ 16.8% CuEq (4.8% Cu, 15.2g/t Au & 23.3g/t Ag) (CB-27-9)
  • 2.9m @ 9.6% CuEq (8.4% Cu, 1.0g/t Au & 43.0g/t Ag) (CB-27-6)

Cygnus is seeing tangible success through its historic data compilation strategy. This low-cost approach involves processing over 100,000 scanned documents, including drill logs, some of which have not been looked at in over 35 years and never before in modern 3D software. Success has already been demonstrated in recent drilling at Golden Eye, which is due to be included in the September quarter resource update, and is highlighting significant potential to expand the current resources at Cedar Bay.

Given the potential of the new targets, an additional drill rig will target both mineralisation along strike and down dip of the known lodes, utilising the recently compiled data and improved geological understanding of the deposit. This will be the first time this data has been compiled and utilised in targeting in over 35 years.

In addition, final results have been received from infill drilling at Corner Bay in time for the resource update due next month. Results include significant intersections of:

  • 3.5m @ 4.9% CuEq (4.2% Cu, 0.5g/t Au & 27.3g/t Ag) (CB-25-123)
  • 1.8m @ 7.7% CuEq (6.3% Cu, 0.9g/t Au & 45.9g/t Ag) (CB-25-125)

Cygnus is continuing its dual track strategy of resource growth and conversion with continued exploration drilling and an imminent resource update due later this quarter. In the background, the team continues to process historic data and generate additional drill targets surrounding the known high-grade copper-gold mineralisation. This is a low-risk approach which is playing a significant role in unlocking this historic district.

The Chibougamau area has well-established infrastructure giving the Project a significant head start as a copper-gold development opportunity. This infrastructure includes a 900,000tpa processing facility, local mining town, sealed highway, airport, regional rail infrastructure and 25kV hydro power to the processing site. Significantly, the Chibougamau processing facility is the only base metal processing facility within a 250km radius which includes a number of other advanced copper and gold projects.

Figure 1: Location of Cedar Bay within the Chibougamau North Camp which boasts a historic production record of nearly 1Mt of copper and 3.5Moz of gold. 2

Figure 2: Composite Long Section through the Chibougamau North Camp illustrating Cedar Bay with intersections of 3.4m @ 16.8% CuEq outside of current resources.
Refer to ASX releases dated 15 October 2024, 25 March 2025 and 8 May 2025 for previously announced drilling results.

This announcement has been authorised for release by the Board of Directors of Cygnus.
David Southam Ernest Mast Media:
Executive Chair President & Managing Director Paul Armstrong
T: +61 8 6118 1627 T: +1 647 921 0501 Read Corporate
E: info@cygnusmetals.com E: info@cygnusmetals.com T: +61 8 9388 1474

About Cygnus Metals

Cygnus Metals Limited (ASX: CY5, TSXV: CYG, OTCQB: CYGGF) is a diversified critical minerals exploration and development company with projects in Quebec, Canada and Western Australia. The Company is dedicated to advancing its Chibougamau Copper-Gold Project in Quebec with an aggressive exploration program to drive resource growth and develop a hub-and-spoke operation model with its centralised processing facility. In addition, Cygnus has quality lithium assets with significant exploration upside in the world-class James Bay district in Quebec, and REE and base metal projects in Western Australia. The Cygnus team has a proven track record of turning exploration success into production enterprises and creating shareholder value.

Forward Looking Statements

This release may contain certain forward-looking statements and projections regarding estimates, resources and reserves; planned production and operating costs profiles; planned capital requirements; and planned strategies and corporate objectives. Such forward looking statements/projections are estimates for discussion purposes only and should not be relied upon. They are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond Cygnus’ control. Cygnus makes no representations and provides no warranties concerning the accuracy of the projections and disclaims any obligation to update or revise any forward-looking statements/projections based on new information, future events or otherwise except to the extent required by applicable laws. While the information contained in this release has been prepared in good faith, neither Cygnus or any of its directors, officers, agents, employees or advisors give any representation or warranty, express or implied, as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this release. Accordingly, to the maximum extent permitted by law, none of Cygnus, its directors, employees or agents, advisers, nor any other person accepts any liability whether direct or indirect, express or limited, contractual, tortuous, statutory or otherwise, in respect of the accuracy or completeness of the information or for any of the opinions contained in this release or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this release.

End Notes

  1. The estimate of mineralisation at the Chibougamau Project is a foreign estimate prepared in accordance with CIM Standards. A competent person has not done sufficient work to classify the foreign estimate as a mineral resource in accordance with the JORC Code, and it is uncertain whether further evaluation and exploration will result in an estimate reportable under the JORC Code. Refer to Appendix B for a breakdown of the Foreign Mineral Resource Estimate.
  2. Historic production statistics for the Chibougamau area are recorded in Leclerc. F, Harris. L. B, Bedard. J. H, Van Breeman. O and Goulet. N. 2012, Structural and Stratigraphic Controls on Magmatic, Volcanogenic, and Shear Zone-Hosted Mineralization in the Chapais-Chibougamau Mining Camp, Northeastern Abitibi, Canada. Society of Economic Geologists, Inc. Economic Geology, v. 107, pp. 963–989.
  3. Refer to Cygnus’ ASX announcement ‘Copper Merger and Equity Raise’ dated 15 October 2024.

Qualified Persons and Compliance Statements

The scientific and technical information in this announcement has been reviewed and approved by Mr Louis Beaupre, the Quebec Exploration Manager of Cygnus, a ‘qualified person’ as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. The Exploration Results disclosed in this announcement are also based on and fairly represent information and supporting documentation compiled by Mr Beaupre. Mr Beaupre holds options in Cygnus. Mr Beaupre is a member of the Ordre des ingenieurs du Quebec (P. Eng.), a Registered Overseas Professional Organisation as defined in the ASX Listing Rules, and has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity which has been undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Beaupre consents to the inclusion in this release of the matters based on the information in the form and context in which they appear.

The Company first announced the foreign estimate of mineralisation for the Chibougamau Project on 15 October 2024. The Company confirms that the supporting information included in the original announcement continues to apply and has not materially changed, notwithstanding the clarification announcement released by Cygnus on 28 January 2025 (‘Clarification’). Cygnus confirms that (notwithstanding the Clarification) it is not aware of any new information or data that materially affects the information included in the original announcement and that all material assumptions and technical parameters underpinning the estimates in the original announcement continue to apply and have not materially changed. Cygnus confirms that it is not in possession of any new information or data that materially impacts on the reliability of the estimates or Cygnus’ ability to verify the foreign estimates as mineral resources in accordance with the JORC Code. The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the original market announcement.

The information in this announcement that relates to previously reported Exploration Results at the Company’s projects has been previously released by Cygnus in ASX Announcements as noted in the text and End Notes. Cygnus is not aware of any new information or data that materially affects the information in these announcements. The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the original market announcements.

Individual grades for the metals included in the metal equivalents calculation for the foreign estimate are in Appendix B of this release. Metal equivalents for the foreign estimate of mineralisation have been calculated at a copper price of US$8,750/t, gold price of US$2,350/oz, with copper equivalents calculated based on the formula CuEq (%) = Cu(%) + (Au (g/t) x 0.77258). Individual grades for the metals included in the metal equivalents calculation for the exploration results are in Appendix A of this release. Metal equivalents for exploration results have been calculated at a copper price of US$8,750/t, gold price of US$2,350/oz and silver price of US$25/oz. Copper equivalents are calculated based on the formula CuEq(%) = Cu(%) + (Au(g/t) x 0.77258)+(Ag(g/t) x 0.00822). Gold equivalents are calculated based on the formula AuEq(g/t) = Au(g/t) +(Cu(%) x 1.29436)+(Ag(g/t) x 0.01064). Metallurgical recovery factors have been applied to the metal equivalents calculations, with copper metallurgical recovery assumed at 95% and precious metal (gold and silver) metallurgical recovery assumed at 85% based upon historical production at the Chibougamau Processing Facility, and the metallurgical results contained in Cygnus’ announcement dated 28 January 2025. It is the Company’s view that all elements in the metal equivalents calculations in respect of the foreign estimate and exploration results have a reasonable potential to be recovered and sold.

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

APPENDIX A – Significant Intersections from Infill Drilling

Coordinates given in UTM NAD83 (Zone 18). Intercept lengths may not add up due to rounding to the appropriate reporting precision. Significant intersections reported above 1% CuEq over widths of greater than 1m. True width estimated to be 80% of downhole thickness.

HOLEID X Y Z Azi Dip Depth From (m) To (m) Interval (m) Cu (%) Au (g/t) Ag (g/t) CuEq (%)
CB-25-123 554619 5510023 394.0 96.5 -60 574.0 559.0 560.8 1.8 6.3 0.9 45.9 7.4
CB-25-124 554619 5510023 394.0 92.0 -66 679.0 667.1 669.8 2.6 1.5 0.1 6.8 1.6
CB-25-125 554619 5510023 394.0 84.0 -64 643.5 594.0 598.5 4.5 3.4 0.4 22.1 3.9
CB-25-127 555071 5509889 402.8 90.0 -60 300.0 267.1 269.4 2.3 2.7 0.5 10.4 3.2


APPENDIX B – Chibougamau Copper-Gold Project – Foreign Mineral Resource Estimate Disclosures as at 30 March 2022

Deposit Category Tonnes (k) Cu Grade (%) Au Grade (g/t) Cu Metal (kt) Au Metal (koz) CuEq Grade (%)
Corner Bay (2022) Indicated 2,700 2.7 0.3 71 22 2.9
Inferred 5,900 3.4 0.3 201 51 3.6
Devlin (2022) Measured 120 2.7 0.3 3 1 2.9
Indicated 660 2.1 0.2 14 4 2.3
Measured & Indicated 780 2.2 0.2 17 5 2.4
Inferred 480 1.8 0.2 9 3 2.0
Joe Mann (2022) Inferred 610 0.2 6.8 1 133 5.5
Cedar Bay (2018) Indicated 130 1.6 9.4 2 39 8.9
Inferred 230 2.1 8.3 5 61 8.5
Total Measured & Indicated 3,600 2.5 0.6 90 66 3.0
Inferred 7,200 3.0 1.1 216 248 3.8


APPENDIX C – 2012 JORC Table 1

Section 1 Sampling Techniques and Data

Criteria JORC Code explanation Commentary
Sampling
techniques

Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.
  • All Cygnus drilling reported is NQ size (47.8 mm diameter).
Include reference to measures taken to ensure sample representativity and the appropriate calibration of any measurement tools or systems used.
  • NQ core was marked for splitting during logging and is sawn using a diamond core saw with a mounted jig to assure the core is cut lengthwise into equal halves.
  • Half of the cut core is placed in clean individual plastic bags with the appropriate sample tag.
  • The remaining half of the core is retained and incorporated into Cygnus’s secure, core library located on the property.
Aspects of the determination of mineralisation that are Material to the Public Report.

In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.

  • Industry standard sampling practices were used with sample lengths ranging from 0.3 m to 1.0 m and respected geological contacts. Sample tags were placed at the beginning of each sample interval and the tag numbers were recorded in a centralised database.
  • Sampling practice is considered to be appropriate to the geology and style of mineralisation.
Drilling
techniques
Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).
  • Diamond core was drilled using surface diamond rigs with industry recognised contractors Miikan Drilling. Miikan is a joint venture between Chibougamau Diamond Drilling Ltd., the First Nations community of Ouje-Bougoumou and the First Nations community of Mistissini both located in the Eeyou Istchee territory.
  • Drilling was conducted using NQ core size.
  • Directional surveys have been taken at 50m intervals.
Drill sample
recovery
Method of recording and assessing core and chip sample recoveries and results assessed.

Measures taken to maximise sample recovery and ensure representative nature of the samples.

Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.

  • Diamond core recovery was measured for each run and calculated as a percentage of the drilled interval.
  • Overall, the core recoveries are excellent in the Chibougamau area. As a result, no bias exists.
Logging

Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.
  • All core was geologically and geotechnically logged. Lithology, veining, alteration and mineralisation are recorded in multiple tables of the drillhole database.
Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.
  • Geological logging of core is qualitative and descriptive in nature.
The total length and percentage of the relevant intersections logged.
  • 100% of the core has been logged.
Sub-
sampling
techniques
and sample
preparation
If core, whether cut or sawn and whether quarter, half or all core taken.

If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.

For all sample types, the nature, quality and appropriateness of the sample preparation technique.

Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.

Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling.

Whether sample sizes are appropriate to the grain size of the material being sampled.

  • The NQ diameter the core was sawn in half following a sample cutting line determined by geologists during logging and submitted for analysis on nominal 1m intervals or defined by geological boundaries determined by the logging geologist.
  • Each core sample is assigned a tag with a unique identifying number. Sample lengths are typically one metre but can be depending on zone mineralogy and boundaries.
  • This sampling technique is industry standard and deemed appropriate.
  • Sample sizes are considered appropriate to grain size of the materials being sampled.
Quality of
assay data
and
laboratory
tests

The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.
  • Sample (NQ size half core) preparation and fire assay analysis were done at Bureau Veritas Commodities Canada Ltd (‘BV’) in Timmins, Ontario, and ICP-ES multi-elements analysis was done at BV in Vancouver, B.C.
  • Samples were weighed, dried, crushed to 70% passing 2 mm, split to 250 g, and pulverized to 85% passing 75 µm.
  • Samples are fire assayed for gold (Au) (50 g) and multi-acid digestion ICP-ES finish, for 23 elements (including key elements Ag, Cu, Mo).
  • Samples with visible gold or likely to have gold grains are analysed with metallic screen fire assay.
  • Samples assaying >10.0 g/t Au are re-analysed with a gravimetric finish using a 50 g charge. Samples assaying >10% Cu are re-analysed with a sodium peroxide fusion with ICP-ES analysis using a 0.25 g charge.
For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.
  • None used.
Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.
  • At Bureau Veritas, laboratory QC procedures involve the use of internal certified reference material as assay standards, along with blanks, duplicates and replicates.
Verification of
sampling
and
assaying

The verification of significant intersections by either independent or alternative company personnel.
The use of twinned holes.
  • No hole is twinned.
Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.
  • All logging data was completed, core marked up, logging and sampling data was entered directly into the database.
  • The logged data is stored on the site server directly.
Discuss any adjustment to assay data.
  • There was no adjustment to the assay data.
Location of
data points

Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.
  • The location of the drill holes and the aiming points for the orientation of the drill holes were indicated on the ground using identified stakes. The stakes marking the location of the drillholes were set up and located with a Garmin GPS model ‘GPSmap 62s’ (4m accuracy).
  • Surveys are collected using a Reflex EZ-Shot® single-shot electronic instrument with readings collected at intervals of approximately every 30 m downhole plus a reading at the bottom of the hole.
Specification of the grid system used.
  • The grid system used is UTM NAD83 (Zone 18).
Quality and adequacy of topographic control.
  • A Digital Terrane Model (DTM) has been used to accurately plot the vertical position of the holes, which is considered to provide an adequate level of topographic control.
Data
spacing and
distribution

Data spacing for reporting of Exploration Results.
  • The drill spacing for recent drilling is considered appropriate for this type of exploration.
Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.
  • No resource estimation is made.
Whether sample compositing has been applied.
  • No sample compositing has been applied.
Orientation
of data in
relation to
geological structure

Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.
  • Recent drilling is orientated approximately at right angles to the currently interpreted strike of the known interpreted mineralisation.
If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.
  • No bias is considered to have been introduced by the existing sampling orientation.
Sample
security
The measures taken to ensure sample security.
  • Core was placed in wooden core boxes close to the drill rig by the drilling contractor. The core was collected daily by the drilling contractor and delivered to the secure core logging facility. Access to the core logging facility is limited to Cygnus employees or designates.
Audits or
reviews
The results of any audits or reviews of sampling techniques and data.
  • No audits or reviews of sampling techniques or data have been undertaken, therefore information on audits or reviews is not yet available.


Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria JORC Code Explanation Commentary
Mineral
tenement and
land tenure
status
Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.
  • The data reported within this announcement is from the Chibougamau Project. The Chibougamau project consists of 3 properties which include:
    • Copper Rand, 14,383 ha (15 mining concession and 311 exploration claims). Includes Cedar Bay, Golden Eye and Colline.
    • Corner Bay – Devlin (1 mining license, 134 exploration claims owned 100% by CBAY and 17 claims owned 56.4% by CBAY/43.6% Pan American Silver)
    • Joe Mann (2 mining concessions, 82 claims owned 100% by CBAY, and 68 claims and 1 mining concession owned 65% by CBAY/35% by SOQUEM)
  • CBAY Minerals Inc. (‘CBAY’), a wholly owned subsidiary of Cygnus, is the owner of all claims and leases, except where otherwise noted above.
  • The properties collectively making up the Project are in good standing based on the Ministry of Energy and Natural Resources (Ministère de l’Énergie et des Ressources Naturelles) GESTIM claim management system of the Government of Québec.
The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.
  • All tenure is in good standing.
Exploration
done by other
parties
Acknowledgment and appraisal of exploration by other parties.
  • Corner Bay was first identified as a prospect in 1956
    • 1956 – 1972 eight drilling programs totalling 1,463 m and various geophysical and electromagnetic (EM) surveys
    • 1973 – 1981 Riocanex and Flanagan McAdam: ground geophysical surveys and 43 diamond drill holes
    • 1982 – 1984 Riocanex and Corner Bay Exploration: 38 drill holes and metallurgical test work
    • 1988 – 1991 Corner Bay Exploration: diamond drilling, geophysical surveys and geological characterisation with initial MRE
    • 1992 – 1994 SOQUEM optioned and acquired a 30% interest, and completed diamond drilling
    • 1994 Explorations Cache Inc and Resources MSV Inc: diamond drilling
    • 2004 – 2006 GéoNova and MSV: 98 diamond drill holes and first Technical Report on the Corner Bay project reporting a MRE
    • 2007 – 2009 Campbell: diamond drilling and bulk sample
    • 2012 – 2019 CBAY / AmAuCu: diamond drilling and MRE
  • Devlin identified in 1972 by airborne survey flown by the MERN
    • 1979 – 1981 diamond drilling, geophysical surveys
    • 1981 development commenced
  • Joe Mann identified in 1950 with the commencement of mining activities occurring in 1956
    • The Joe Mann mine operated underground during three different periods from 1956 to 2007
    • In July 2012, Resources Jessie acquired the Joe Mann mine property, but conducted only surface exploration work
  • Cedar Bay was discovered prior to 1927 by Chibougamau McKenzie Mines Ltd
    • From initial discovery to 2013 various surface and underground drilling campaigns and geophysical surveys undertaken by various companies
  • Colline was first discovered with mapping and sampling and then drilled in the 1950s with follow up drilling in 1955.
    • In the 1950s a shaft was sunk but the deposit was never mined
    • The deposit was later tested with three drill holes and six regional drill holes throughout two drilling campaigns in 1984 and 1986/87
    • Exploration at Colline has been halted historically with the discovery of and focus on other deposits in the region
  • Golden Eye (previously known as Dore Ramp) was drilled in a few different phases from 1984 to 1992.
    • A total of 47 drill holes from surface are reported during that period
    • A double ramp of approximately 1 kilometre was excavated in 1991-92 to a vertical depth of 160 meters
    • Underground drilling campaign of 46 holes totalling 10,200 meters tested the deposit mainly to a depth of 240 meters (only five holes tested the deposit between 300 and 600 meters)
Geology Deposit type, geological setting and style of mineralisation.
  • Corner Bay and Devlin are located at the northeastern extremity of the Abitibi subprovince in the Superior province of the Canadian Shield and are examples of Chibougamau-type copper-gold deposits. The Abitibi subprovince is considered as one of the largest and best-preserved greenstone belts in the world and hosts numerous gold and base metal deposits.
  • The Corner Bay deposit is located on the southern flank of the Doré Lake Complex (DLC). It is hosted by a N 15° trending shear zone more or less continuous with a strong 75° to 85° dip towards the west. The host anorthosite rock is sheared and sericitized over widths of 2 m to 25 m. The deposit is cut by a diabase dyke and is limited to the north by a fault structure and to the south by the LaChib deformation zone.
  • The Corner Bay deposit consists of three main mineralized lodes (subparallel Main Lode 1 and Main Lode 2 above the dyke, and Main Lode below the dyke that make up the bulk of the deposit. The Corner Bay deposit has been traced over a strike length to over 1,100 m to a depth of 1,350 m and remains open at depth.
  • The mineralization is characterized by veins and/or lenses of massive to semi-massive sulphides associated with a brecciated to locally massive quartz-calcite material. The sulphide assemblage is composed of chalcopyrite, pyrite, and pyrrhotite with lesser amounts of molybdenite and sphalerite. Late remobilized quartz-chalcopyrite-pyrite veins occur in a wide halo around the main mineralization zones.
  • Devlin is a flat-lying, copper-rich lodes-hosted deposit in a polygenic igneous breccia that is less than 100 m from the surface. The tabular bodies have been modelled as four nearly horizontal lodes: a more continuous lower zone and three smaller lodes comprising the upper zone. Mineralization is reflected as a fracture zone often composed of two or more sulphide-quartz lodes and stringers. Thickness of the mineralized zones range from 0.5 m to 4.4 m. It has been diluted during modelling to reflect a minimum mining height of 1.8 m.
  • The Joe Mann deposit is characterized by east-west striking shear hosted lodes that extend beyond 1,000 m vertically with mineralization identified over a 3 km strike length. These shear zones form part of the Opawica-Guercheville deformation zone, a major deformation corridor cutting the mafic volcanic rocks of the Obatogamau Formation in the north part of the Caopatina Segment. The gabbro sill hosts the Main Zone and the West Zone at the mine, while the South Zone is found in the rhyolite. These three subvertical E-W (N275°/85°) ductile-brittle shear zones are sub-parallel to stratigraphy and to one another, with up to 140 m to 170 m of separation between them. These shear zones are hosted within a stratigraphic package composed of iron-magnesium (Fe-Mg) carbonate and sericite altered gabbro sills, sheared basalts, and intermediate to felsic tuffs intruded by various felsic intrusions. The Joe Mann gold mineralization is hosted by decimetre scale quartz-carbonate lodes (Dion and Guha 1988). The lodes are mineralized with pyrite, pyrrhotite, and chalcopyrite disposed in lens and lodelets parallel to schistosity, and occasionally visible gold. There are some other minor, mineralized structures, e.g., North and South-South Zones, with limited vertical and horizontal extensions.
  • The Cedar Bay deposit is hosted by a sheared and altered gabbroic-anorthosite of the DLC. The meta-anorthosites are typically comprised of 70% to 90% plagioclase, which has been heavily altered to epidote and albite. The Cedar Bay deposit generally has a northwest strike and dips steeply to the northeast. The gold-copper sulphide veins average approximately 1.5 m in width and are tens to hundreds of metres in strike length. The individual mineralization lenses have approximately 3:1 down dip to along strike anisotropies. The veins are comprised of pyrite and chalcopyrite with some gold and minor sphalerite. The main alteration minerals are chlorite, quartz, and carbonates. Locally, pyrrhotite dominates the vein mineral assemblage. Pyrrhotite has a very heterogeneous distribution within the mineralization.
Drill hole
Information
A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:

  • easting and northing of the drill hole collar
  • elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar
  • dip and azimuth of the hole
  • down hole length and interception depth
  • hole length.

If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.

  • All requisite drill hole information is tabulated elsewhere in this release. Refer Appendix A of the body text.
Data
aggregation
methods

In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.
  • For recent results, drill hole intersections are reported above a lower cut-off grade of 1% CuEq over greater than 1m width.
Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low-grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.
  • A maximum of 1m internal waste was allowed.
The assumptions used for any reporting of metal equivalent values should be clearly stated.
  • Individual grades for the metals included in the metal equivalents calculation for the exploration results are in Appendix A of this release. Metal equivalents for exploration results have been calculated at a copper price of US$8,750/t, gold price of US$2,350/oz and silver price of US$25/oz. Copper equivalents are calculated based on the formula CuEq(%) = Cu(%) + (Au(g/t) x 0.77258)+(Ag(g/t) x 0.00822). Gold equivalents are calculated based on the formula AuEq(g/t) = Au(g/t) + (Cu(%) x 1.29436) + (Ag(g/t) x 0.01064). Metallurgical recovery factors have been applied to the metal equivalents calculations, with copper metallurgical recovery assumed at 95% and precious metal (gold and silver) metallurgical recovery assumed at 85% based upon historical production at the Chibougamau Processing Facility, and the metallurgical results contained in Cygnus’ announcement dated 28 January 2025. It is the Company’s view that all elements in the metal equivalent calculations have a reasonable potential to be recovered and sold.
Relationship
between
mineralisation
widths and
intercept lengths
These relationships are particularly important in the reporting of Exploration Results.

If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.

If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).

  • All intersections reported in the body of this release are down hole.
  • For recent drill holes, holes are drilled as close to orthogonal to the plane of the mineralized lodes as possible.
  • True width is estimated to be about 80% of the downhole drill intersection.
Diagrams Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include,but not be limited to a plan view of drill hole collar locations and appropriate sectional views.
  • Refer Figure 3 Location of recent drilling at Corner Bay:
Balanced
reporting
Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.
  • Reported results from infill drilling at Corner Bay includes 4 holes for 2,196.5m. All results greater than 1% CuEq over greater than 1m width reported.
Other
substantive
exploration data
Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.
  • There is no other substantive exploration data.
Further work The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling).

Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.

  • The Company plans to conduct drill testing of additional mineralisation as well as step out drilling of existing lodes. More information is presented in the body of this report.
  • Diagrams in the main body of this release show areas of possible resource extension on existing lodes. The Company continues to identify and assess multiple other target areas within the property boundary for additional resources.

Figure 3. Location of recent drilling at Corner Bay

1 The estimate of mineralisation at the Chibougamau Project is a foreign estimate prepared in accordance with CIM Standards and is not reported in accordance with the JORC Code. A competent person has not done sufficient work to classify the foreign estimate as a mineral resource in accordance with the JORC Code, and it is uncertain that following evaluation and/or further exploration work that the foreign estimate will be able to be reported as a mineral resource or ore reserve in accordance with the JORC Code.

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/fd3c6b3c-224d-4396-96cb-d237e38f0458
https://www.globenewswire.com/NewsRoom/AttachmentNg/98e31a33-d5d1-4b68-b615-7c645848b997
https://www.globenewswire.com/NewsRoom/AttachmentNg/30a17106-ee20-4c4a-a5d8-c1eb291e8dea

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