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The S&P 500 ($SPX) just logged its fifth straight trading box breakout, which means that, of the five trading ranges the index has experienced since the April lows, all have been resolved to the upside.

How much longer can this last? That’s been the biggest question since the massive April 9 rally. Instead of assuming the market is due to roll over, it’s been more productive to track price action and watch for potential changes along the way. So far, drawdowns have been minimal, and breakouts keep occurring. Nothing in the price action hints at a lasting change — yet.

While some are calling this rally “historic,” we have a recent precedent. Recall that from late 2023 through early 2024, the index had a strong start and gave way to a consistent, steady trend.

From late October 2023 through March 2024, the S&P 500 logged seven consecutive trading box breakouts. That streak finally paused with a pullback from late March to early April, which, as we now know, was only a temporary hiccup. Once the bid returned, the S&P 500 went right back to carving new boxes and climbing higher.

New 52-Week Highs Finally Picking Up

If there’s been one gripe about this rally, it’s that the number of new highs within the index has lagged. As we’ve discussed before, among all the internal breadth indicators available, new highs almost always lag — that’s normal. What we really want to see is whether the number of new highs begins to exceed prior peaks as the market continues to rise, which it has, as shown by the blue line in the chart below.

As of Wednesday’s close, 100 S&P 500 stocks were either at new 52-week highs or within 3% of them. That’s a strong base. We expect this number to continue rising as the market climbs, especially if positive earnings reactions persist across sectors.

Even when we get that first day with 100+ S&P 500 stocks making new 52-week highs, though, it might not be the best time to initiate new longs.

The above chart shows that much needs to align for that many stocks to peak in unison, which has historically led to at least a short-term consolidation, if not deeper pullbacks — as highlighted in yellow. Every time is different, of course, but this is something to keep an eye on in the coming weeks.

Trend Check: GoNoGo Still “Go”

The GoNoGo Trend remains in bullish mode, with the recent countertrend signals having yet to trigger a greater pullback.

Active Bullish Patterns

We still have two live bullish upside targets of 6,555 and 6,745, which could be with us for a while going forward. For the S&P 500 to get there, it will need to form new, smaller versions of the trading boxes.

Failed Bearish Patterns

In the chart below, you can view a rising wedge pattern on the recent price action, the third since April. The prior two wedges broke down briefly and did not lead to a major downturn. The largest pullbacks in each case occurred after the S&P 500 dipped below the lower trendline of the pattern.

The deepest drawdown so far is 3.5%, which is not exactly a game-changer. Without downside follow-through, a classic bearish pattern simply can’t be formed, let alone be broken down from.

We’ll continue to monitor these formations as they develop because, at some point, that will change.

In its 2025 federal budget, the Canadian government lays out a bold blueprint to foster competition, innovation and inclusion in the financial sector by accelerating open banking adoption.

With the Big Six banks holding 93 percent of banking assets, this consumer-driven reform aims to dismantle longstanding barriers, giving Canadians and small businesses greater control over their financial data and choices.

The promise of open banking in Canada

Open banking, also known as consumer-driven banking, enables secure, reliable and affordable sharing of financial data between banks and third-party service providers. The goal of this framework is to empower consumers by bringing them more customized and transparent financial products and services.

The Canadian government’s recent announcements, including legislative proposals and an oversight shift from the Financial Consumer Agency of Canada (FCAC) to the Bank of Canada (BoC), signal a serious commitment to delivering a competitive and consumer-centric financial ecosystem. Boms explained that, if implemented correctly, open banking could drive innovation and inclusion across Canada’s financial sector.

“It means a more holistic picture of your total financial life, including your investment portfolios,” he commented. “It’s also something that every other G7 country has and has had for quite some time, and so it provides the basis for a more competitive, more innovative and more efficient financial system.”

One shift in the proposed framework that Boms said is vital is the BoC taking control of regulatory oversight.

‘The FCAC, where (oversight) lived originally, really didn’t have any experience in creating a regulatory framework for non-banks,’ he said. In contrast, the BoC has direct experience in licensing for non-banks serving consumers. It oversees fintech firms such as Wealthsimple, Koho, Brim Financial and Venn under the Retail Payments Activities Act.

Smaller financial institutions, including credit unions, will stand to benefit significantly from this change, leveling the playing field with the Big Six banks, which, as mentioned, currently dominate banking assets.

However, Boms emphasized the importance of a risk- and size-based regulatory approach to ensure these smaller players can innovate without undue burdens: “You have to recognize that fundamentally smaller financial institutions, smaller fintechs, don’t have the same resources as bigger incumbents.”

Canadian budget measures supporting competition

This year’s Canadian federal budget introduces several important measures to enhance competition and give consumers more choice beyond the dominant bank oligopoly. One of the flagship promises is to ban transfer fees for investment and registered accounts, fees that currently cost Canadians around C$150 per account.

Draft regulations are expected by spring 2026 to enforce this ban, reducing friction and costs for consumers. Additionally, the budget includes initiatives to simplify switching primary chequing accounts between financial institutions, further lowering barriers for Canadians to move their banking relationships.

The budget also targets cross-border transfer fees by improving transparency, including fees related to foreign exchange margins, so consumers can better understand the costs of sending money internationally.

Accessibility to cheque funds will be improved by raising the dollar threshold and shortening hold periods on cheque deposits, benefiting Canadians who rely on cheques.

To support smaller lenders and foster broader financial inclusion, legislative amendments will make it easier for federal credit unions to scale and for provincial credit unions to enter the federal regulatory regime.

“If (smaller financial institutions) can get access to consumer data digitally, they can then become much more competitive without having to build the same type of infrastructure the biggest banks can afford to build,” said Boms.

A voluntary code of conduct is planned to improve smaller financial institutions’ access to brokered deposit channels, a vital funding source for growth. Furthermore, changes to the Bank Act and Canada Deposit Insurance Corporation Act will raise public holding requirement thresholds for smaller institutions.

That will allow them more flexibility to grow before triggering changes in ownership structure.

While Canada is still rolling out its open banking framework, countries like the UK and Australia demonstrate how open banking adoption fuels economic resilience and consumer benefits.

“Canada has learned from the experiences of (other) jurisdictions, good and bad, and taken those learnings and implemented (them) into what we see here,’ said Boms.

The future of open banking in Canada

With a 2026 target for full read access, market participants are gearing up for a transformative shift in how financial data is handled. This initiative marks a pivotal move toward democratizing financial data and services in Canada.

The BoC’s expanded oversight role, coinciding with the launch of the real-time rail payment infrastructure and phased “write access” capabilities by mid-2027, will accelerate the system’s rollout.

This evolving infrastructure will facilitate instant payments and empower consumers with the ability to initiate actions like bill payments and account switching seamlessly.

Boms and FDATA Canada stand ready to guide this transformation, ensuring that open banking in Canada not only enhances competition, but also maintains safety, security and consumer protection.

Open banking’s architecture also presents fresh opportunities for digital currencies, with new legislation introduced requiring stablecoin issuers to maintain adequate high-quality reserves, clear redemption policies and robust risk management and security standards. Stablecoins could complement open banking by enabling faster, cheaper cross-border payments and settlements, especially for consumers and small businesses.

As open banking takes shape, Canadians and small businesses will gain unprecedented control over their financial lives, a change poised to ignite innovation, unlock economic potential and reshape the country’s banking landscape.

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

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BTU METALS CORP. (‘BTU’ or the ‘Company’) (TSXV:BTU)(OTCQB:BTUMF) announces that, further to the news release of November 11, 2025, the Company has closed the previously announced, over-subscribed non-brokered private placement of flow-through common shares by the issuance of 17,700,000 flow-through shares at a price of $0.05 per FT Share (the ‘FT Offering’), for gross proceeds of $885,000.

Each flow-through unit shall be comprised of one common share of the company issued on a flow-through basis and one-half of one common share purchase warrant to be issued on a non-flow-through basis. Each whole warrant shall entitle the holder thereof to acquire one common share of BTU at a price of $0.09 for a period of 12 months following the closing of the offering. The flow-through shares will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and Section 359.1 of the Taxation Act (Quebec).

In connection with the oversubscribed offering, the company paid finders’ fees to eligible finders consisting of $58,450 in cash and 1,106,000 non-transferable common share purchase warrants. Each finder warrant is exercisable to acquire one common share in the capital of the company at an exercise price of $0.05 per common share for a period of 12 months from the date of issuance. Closing of the offering is subject to approval of the TSX Venture Exchange. The securities issued under the offering, and any Shares that may be issuable on exercise of any such securities, will be subject to a statutory hold period expiring four months and one day from the date of issuance of such securities.

‘The overwhelming response for this financing demonstrates strong market support for BTU’s portfolio of Ontario-based exploration projects in both the prolific Red Lake and Wawa mining districts,’ stated Paul Wood, CEO. We look forward to advancing all of our projects immediately and into 2026.’

About BTU
BTU Metals Corp. is a junior mining exploration company. BTU’s primary assets are the Dixie Halo Project located in Red Lake, Ontario (optioned to Kinross) immediately adjacent to the Kinross Great Bear Project, the Dixie East project and its gold and critical minerals properties in the active Wawa gold district. The Company continues to look to acquire high quality exploration projects to add to its portfolio for the benefit of its stakeholders. The Company has no debt and minimal property obligations.

ON BEHALF OF THE BOARD

Paul Wood

Paul Wood, CEO, Director
pwood@btumetals.com
BTU Metals Corp.
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770

Cautionary Statement
Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements
This news release contains certain ‘forward-looking information’ within the meaning of applicable Canadian securities laws that are based on expectations, estimates and projections as at the date of this news release. The information in this release about future plans and objectives of the Company is forward-looking information. Other forward-looking information includes but is not limited to information concerning: the intentions, plans and future actions of the Company.

Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as ‘expects’, or ‘does not expect’, ‘is expected’, ‘anticipates’ or ‘does not anticipate’, ‘plans’, ‘budget’, ‘scheduled’, ‘forecasts’, ‘estimates’, ‘believes’ or ‘intends’ or variations of such words and phrases or stating that certain actions, events or results ‘may’ or ‘could’, ‘would’, ‘might’ or ‘will’ be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information.

This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others: risks relating to the global economic climate; dilution; future capital needs and uncertainty of additional financing; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the effects of product development; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; and volatile securities markets impacting security pricing unrelated to operating performance. The Company has also assumed that no significant events occur outside of the normal course of business. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law.


Source

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(TheNewswire)

Toronto, Ontario November 25, 2025 TheNewswire – Laurion Mineral Exploration Inc. (TSX.V: LME | OTC: LMEFF) (‘LAURION’ or the ‘Corporation’) is pleased to announce encouraging results from its 7,700-metre Summer 2025 drill exploration program at the 100%-owned Ishkõday Project, located 220 km northeast of Thunder Bay in Greenstone, Ontario. The first five drill results were announced in the Corporation’s press releases dated August 19, 2025 and September 23, 2025, respectively, which targeted the high-grade gold-bearing vein systems of the Sturgeon River Mine area. Reference is also made to the Corporation’s press releases dated September 5, 2025, May 27, 2025 and May 8, 2025.

The reported drill holes below, LME25-063, LME25-064, LME25-065 and LME25-066, total 1,806 m. The holes were designed to evaluate the northeast extension of the mineralized system at the historic Brenbar Mine, with hole LME25-063, and then stepping out to the northeast of the Brenbar historic mine shaft targeting the untested M50 Quartz vein series with further drill holes.

Highlights of Drill Holes LME25-063, LME25-065 and LME25-066

  • LME25-063        0.7 m @ 2.67 g/t Au from 139.50 m to 140.20 m;

  • LME25-063        0.5 m @ 1.26 g/t Au from 393.40 m to 393.90 m;

  • LME25-065        0.50 m @ 1.78 g/t Au from 91.10 m to 91.60 m;

  • LME25-065        1.80 m @ 0.95 g/t Au from 149.60 m to 151.40 m, including: 0.80 m @ 1.90 g/t Au from 150.60 m to 151.40 m;

  • LME25-065        0.50 m @ 1.32 g/t Au from 292,30 m to 292.80 m;

  • LME25-066        1.50 m @ 1.02 g/t Au from 272,50 m to 274.00 m; and

  • LME25-066        0.70 m @ 2.42 g/t Au and 1.90 Au/t from 389.0 m to 389.70 m.

While these results represent the early stages of testing in a geologically complex corridor, their significance lies in extending our knowledge of mineralization continuity between the historic Brenbar and Sturgeon River Mine areas, ‘ stated Cynthia Le Sueur-Aquin, President and CEO of LAURION. ‘This is the first time drilling has been completed across this untested structural corridor, and it is yielding valuable geological insight with oriented core, that will guide the next phase of our exploration program. Our focus remains on defining the broader mineralized system that links multiple historic mine zones, ultimately positioning Ishkōday as a district-scale gold and base metal opportunity.’

Table of Assays for Drill Holes for LME25-063 to LME25-066

Hole ID

From (m)

To (m)

Core Length (m)

Au (g/t)

LME25-063

11.6

12.1

0.5

0.38

LME25-063

26.80

27.5

0.7

0.87

LME25-063

33.5

34.5

1.0

0.45

LME25-063

47.0

48.0

1.0

0.34

LME25-063

85.0

85.5

0.5

0.91

LME25-063

139.5

140.2

0.7

2.67

LME25-063

144.9

145.5

0.6

0.94

LME25-063

228.4

228.9

0.5

0.58

LME25-063

262.5

264.0

1.5

0.75

LME25-063

251.5

283.0

1.5

0.52

LME25-063

393.4

393.9

0.5

1.26

LME25-064

22.5

23.1

0.6

0.29

LME25-064

55.0

56.0

1.0

0.92

LME25-064

83.0

84.5

1.5

0.20

LME25-064

151.0

152.0

1.0

0.20

LME25-064

218.8

219.3

0.5

0.26

LME25-064

246.0

247.1

1.1

0.23

LME25-064

313.0

313.5

0.5

0.97

LME25-064

331.0

332.0

1.0

0.27

LME25-064

354.0

354.5

0.5

0.25

LME25-064

356.1

356.6

0.5

0.70

LME25-065

5.7

6.2

0.5

0.71

LME25-065

8.0

8.8

0.8

0.31

LME25-065

15.5

17.0

1.5

0.23

LME25-065

40.3

40.9

0.6

0.48

LME25-065

54.5

55.1

0.6

0.23

LME25-065

64.7

65.4

0.7

0.27

LME25-065

75.4

76.0

0.6

0.69

LME25-065

91.1

91.6

0.5

1.78

LME25-065

94.0

95.0

1.0

0.32

LME25-065

149.6

151.4

1.8

0.95

including

150.6

151.4

0.8

1.90

LME25-065

20.08

209.0

1.0

0.44

LME25-065

223.5

224.0

0.5

0.20

LME25-065

235.0

236.0

1.0

0.40

LME25-065

243.5

245.0

1.5

0.29

LME25-065

292.3

292.8

0.5

1.32

LME25-065

309.9

310.4

0.5

0.25

LME25-065

319.7

320.9

1.2

0.21

LME25-065

319.7

320.2

0.5

0.32

LME25-065

365.0

365.5

0.5

0.27

LME25-065

391.2

391.7

0.5

0.22

LME25-065

417.3

417.8

0.5

0.80

LME25-065

487.4

488.2

0.8

0.38

LME25-066

5.46

6.5

1.04

0.21

LME25-066

13.3

14.75

1.45

0.37

LME25-066

85.0

89

4.0

0.26

LME25-066

86.25

87.1

0.85

0.53

LME25-066

117.0

118

1.0

0.67

LME25-066

223.7

225.5

1.8

0.25

LME25-066

251.5

252.1

0.6

0.34

LME25-066

257.4

258.15

0.75

0.46

LME25-066

272.5

274.0

1.5

1.02

LME25-066

303.0

303.5

0.5

0.41

LME25-066

307.8

308.3

0.5

0.94

LME25-066

310.2

310.7

0.5

0.70

LME25-066

324.6

325.1

0.5

0.46

LME25-066

327.4

327.9

0.5

0.93

LME25-066

339.0

340.0

1.0

0.25

LME25-066

389.0

389.7

0.7

2.42

LME25-066

400.0

400.65

0.65

0.84

LME25-066

413.8

414.3

0.5

0.21

LME25-066

465.2

465.8

0.6

0.20

Note: (Intervals represent core length. The interval widths reported are down-hole widths. The true widths of the mineralized zones are not known at this time as there is insufficient information to determine the orientation of the mineralization. True widths are estimated at ~70–90% of reported intervals.)

Drill Hole ID

Azimuth

Dip

Depth (m)

LME25-063

150

-50

435

LME25-064

150

-50

366

LME25-065

150

-50

513

LME25-066

150

-50

492

TOTAL

1,806

Sampling and QA/QC Protocols

All drill core is transported and stored inside the core facility located at the Ishkõday Project in Greenstone, Ontario. LAURION employs an industry standard system of external standards, blanks and duplicates for all of its sampling, in addition to the QA/QC protocol employed by the laboratory. After logging, core samples were identified and then cut in half along core axis in the same building and then zip tied individually in plastic sample bags with a bar code. Approximately five or six of these individual bags were then stacked into a ‘rice’ white material bag and stored on a skid for final shipment to the laboratory.

All core samples were shipped to the ALS facility in Thunder Bay, Ontario, which were then prepared by ALS Global Geochemistry in Thunder Bay and analyzed by ALS Global Analytical Lab in North Vancouver, British Columbia. Samples are processed by 4-acid digestion and analyzed by fire assay on 50 g pulps and ICP-AES (InductivelyCoupledPlasma – AtomicElement-Spectroscopy). Over limit analyses are reprocessed with gravimetric finish.

A total of 5% blanks and 5% standard are inserted randomly within all samples. 5% of the best assay result pulps were sent for re-assays. All QAQC were verified, and no contamination or bias have been observed. The remaining half of the core, as well as the unsampled core, is stored in temporary core racks at the core logging facility in Beardmore and moved to the core storage facility at the Ishkõday Project.

Qualified Person

The technical contents of this release were reviewed and approved by Jean-Philippe Paiement, PGeo, MSc, a consultant to LAURION and a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects .

About LAURION Mineral Exploration Inc.

The Corporation is a mid-stage junior mineral exploration and development company listed on the TSXV under the symbol LME and on the OTCPINK under the symbol LMEFF. LAURION now has 274,097,283 outstanding shares, of which approximately 73.6% are owned and controlled by insiders who are eligible investors under the ‘Friends and Family’ categories.

LAURION’s emphasis is on the exploration and development of its flagship project, the 100% owned mid-stage 57 km 2 Ishkõday Project, and its gold-rich polymetallic mineralization.

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

FOR FURTHER INFORMATION, CONTACT:

LAURION Mineral Exploration Inc .

Cynthia Le Sueur-Aquin – President and CEO

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

Douglas Vass – Investor Relations Consultant

Email: info@laurion.ca

Website: http://www.LAURION.ca

Follow us on: X (@LAURION_LME ), Instagram (laurionmineral) and LinkedIn ( )

Caution Regarding Forward-Looking Information

This press release contains forward-looking statements, which reflect the Corporation’s current expectations regarding future events including with respect to LAURION’s business, operations and condition, management’s objectives, strategies, beliefs and intentions, the Corporation’s ability to advance the Ishkõday Project, the nature, focus, timing and potential results of the Corporation’s exploration, drilling and prospecting activities in 2025 and beyond, including the Corporation’s diamond drill program described in this press release and the Corporation’s other planned activities for the Ishkõday Project for the remainder of 2025, and the statements regarding the Corporation’s exploration or consideration of any possible strategic alternatives and transactional opportunities, as well as the potential outcome(s) of this process, the possible impact of any potential transactions referenced herein on the Corporation or any of its stakeholders, and the ability of the Corporation to identify and complete any potential acquisitions, mergers, financings or other transactions referenced herein, and the timing of any such transactions. The forward-looking statements involve risks and uncertainties. Actual events and future results, performance or achievements expressed or implied by such forward-looking statements could differ materially from those projected herein including as a result of a change in the trading price of the common shares of LAURION, the TSX Venture Exchange or any other applicable regulator not providing its approval for any strategic alternatives or transactional opportunities, the interpretation and actual results of current exploration activities, changes in project parameters as plans continue to be refined, future prices of gold and/or other metals, possible variations in grade or recovery rates, failure of equipment or processes to operate as anticipated, the failure of contracted parties to perform, labor disputes and other risks of the mining industry, delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the Corporation’s publicly filed documents. Investors should consult the Corporation’s ongoing quarterly and annual filings, as well as any other additional documentation comprising the Corporation’s public disclosure record, for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. Subject to applicable law, the Corporation disclaims any obligation to update these forward-looking statements. All sample values are from grab samples and channel samples, which by their nature, are not necessarily representative of overall grades of mineralized areas. Readers are cautioned to not place undue reliance on the assay values reported in this press release.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Copyright (c) 2025 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

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Exploration Program Targets Near-Mine Ounce Growth

Fortune Bay Corp. (TSXV: FOR,OTC:FTBYF) (FWB: 5QN) (OTCQB: FTBYF) (‘Fortune Bay’ or the ‘Company’) is pleased to announce that exploration drilling has commenced on multiple high-priority exploration targets at its 100%-owned Goldfields Gold Project (‘Goldfields’ or the ‘Project’) in northern Saskatchewan.

The targets include opportunities for resource expansion at the Box and Athona deposits, and potential for the addition of new resources from underexplored historical occurrences at Frontier, Golden Pond, and Triangle ­— all within two kilometres of past-producing and expected future mine infrastructure (Figure 1).

An initial 17 exploration holes (3,250 metres) are planned with provision to expand the program in a results-driven manner. The exploration drilling will be carried out in conjunction with development-related drilling, supporting advancement of Goldfields to Pre-Feasibility Study, as described in the Company’s recent News Release.

Gareth Garlick, VP Technical Services for Fortune Bay, commented ‘We have initiated drilling within three weeks of closing our financing, demonstrating the pace at which we intend to advance the Project. Goldfields is already positioned as a robust development asset in Canada’s top mining jurisdiction, with work toward pre-feasibility and permitting in progress. Our exploration program is designed to unlock additional near-mine ounces that could further strengthen Goldfields’ exceptional economics and improve the overall development profile.’

Box Deposit – High-Grades Open at Depth

The Box deposit is wide open at depth. The Company’s 2021 drilling confirmed high-grades extending up to 240 m beyond the extents of the current open-pit constrained Mineral Resource Estimate (‘MRE’) (Figure 2), including:

  • 13.22 g/t Au over 8.0 m from 426.0 to 434.0 m (drill hole B21-340)
  • 8.74 g/t Au over 5.0 m from 575.0 to 580.0 m (drill hole B21-339)
  • 8.00 g/t Au over 12.0 m from 509.0 to 521.0 m (drill hole B21-336)
  • 8.00 g/t Au over 4.0 m from 375.0 to 379.0 m (drill hole B21-334)

Four initial drill holes (2,000 m) are planned to test and infill large gaps (up to 170 m) in the existing drill hole coverage outside of the MRE to test for extensions to high-grade zones with underground mining potential.

Gold mineralization occurs in sheeted and stockwork quartz–sulphide veins within the Box Mine Granite (‘BMG’), controlled by N-S and NW-SE trending structures. The Box Deposit currently hosts an open-pit constrained mineral resource including 734,300 oz Indicated (16.2 Mt @ 1.41 g/t), and 114,100 oz Inferred (3.4 Mt @ 1.04 g/t) (effective date September 11, 2025).

Athona Deposit – Near-Pit Resource Expansion Potential

Mineral resources at Athona are hosted entirely within the Athona Mine Granite (‘AMG’). The outcropping Athona West Mine Granite (‘AWMG’) is located immediately west of the AMG and displays gold mineralization similar in style to the AMG, but has not seen sufficient drilling to support estimation of mineral resources (Figure 3).

Two initial drill holes (270 m) are planned with the dual purpose of testing mineralization continuity in the AWMG and testing an underlying extension of the AMG below the AWMG. This target is located directly adjacent to, and partially overlapping, the Athona open-pit designed in the Updated PEA and has potential to cost-effectively add mineral resources with limited delineation drilling.

Gold mineralization at Athona occurs as stacked quartz–sulphide vein arrays controlled by NNE-trending structures. The Athona Deposit (AMG) currently hosts an open-pit constrained mineral resource including 255,400 oz Indicated (7.8 Mt @ 1.02 g/t) and 100,100 oz Inferred (4.0 Mt @ 0.78 g/t) (effective date September 11, 2025).

Exploration Drilling at Underexplored Historical Gold Occurrences

The Frontier, Golden Pond, and Triangle occurrences — all located within two kilometres of past-producing and expected future mine infrastructure — represent opportunities to define new mineralized zones that could ultimately contribute additional gold ounces to future Mineral Resource Estimates, thereby enhancing the overall scale and optionality of the Goldfields Project. The 2025/2026 exploration drilling program has been designed to test the size potential and continuity of shallow mineralized systems at these targets. Results from this work will be used to prioritize areas for follow-up delineation drilling, with the objective of advancing the most compelling opportunities in a cost-effective and timely manner.

Frontier – Located 800 metres northwest of the Box Deposit, the mineralized Frontier Mine Granite (‘FMG’) forms a 10–25 metre thick tabular body striking ENE–WSW and dipping gently to the SSE, similar in style to the Box Mine Granite. Historical work indicates that most mineralization occurs within a topographic high (outcropping to ~25 metres depth), which could provide a favourable strip ratio should a mineral resource be defined. Three initial drill holes (340 metres) are planned test for down-dip extensions of historically identified mineralization.

Golden Pond – Historical drilling at Golden Pond returned near-surface gold mineralization, with the vein system interpreted to remain open to the northwest. Six initial holes (440 metres) are planned to confirm historical results and to evaluate both along-strike and down-dip extensions of the mineralized structure.

Triangle – Triangle hosts a broad quartz-vein system that has returned surface grab samples up to 177 g/t gold from recent fieldwork. Unlike the granite-hosted targets at Box, Athona, Frontier, and Golden Pond, mineralization at Triangle occurs within less-resistant calcareous bedrock and is often masked by overburden. Historical drilling was limited and did not appropriately test the interpreted vein orientation.

Two initial drill holes (200 metres) will be completed to properly evaluate the target and assess continuity of the mineralized system both along strike and down dip.

Technical Disclosure

Current Drilling and Sampling Results

The Box 2021 (‘B21’) and 2022 (‘B22’) drill holes were oriented at moderate dips (-55 to -60 degrees) to the east to intersect the dominant mineralized vein-sets at high angles, and true thicknesses are estimated to be approximately 80% of the intersected lengths. Drill results shown are assays from 1 metre samples of half-cut NQ core composited into longer intervals using a minimum lower cut-off of 0.5 g/t Au, and maximum 5 metres of consecutive waste defined as < 0.3 g/t Au.

Surface sample results from Triangle derive from grab samples collected by hand from outcrop. Grab samples are selective in nature and are not necessarily representative of the overall mineralization at the occurrence.

Historical Results

Historical exploration results for Golden Pond and Frontier, that are being used to plan exploration holes, derive from assessment reports 74N08-0150 and 74N07-0315, respectively. These reports and supporting datasets are available for download from the Saskatchewan Mineral Assessment Database (‘SMAD’). Accordingly, historical results have not been verified and there is a risk that any future confirmation work and exploration may produce results that substantially differ from the historical results. The Company considers historical results relevant to assess the mineralization and economic potential of the property.

Mineral Resource Estimate

The Mineral Resource Estimate for Box and Athona is provided in the technical report titled ‘Goldfields Project Updated NI 43-101 Technical Report & Preliminary Economic Assessment, Saskatchewan, Canada‘, dated October 20, 2025, prepared by Kevin Murray, P.Eng.; Scott C. Elfen, P.E.; James Millard, P.Geo.; Jonathan Cooper, P.Eng.; Marc Schulte, P.Eng.; Cliff Revering, P.Eng.; and Ron Uken, Pr.Sci.Nat. for Fortune Bay Corp. The report is available under the Company’s issuer profile on SEDAR+ (www.sedarplus.ca) and on the Company’s website at www.fortunebaycorp.com.

Qualified Person & Technical Disclosure

The technical and scientific information in this news release has been reviewed and approved by Gareth Garlick P.Geo., Vice-President Technical Services of the Company, who is a Qualified Person as defined by NI 43-101. Mr. Garlick is an employee of Fortune Bay and is not independent of the Company under NI 43‑101.

About Goldfields

The 100% owned Goldfields Project (‘Goldfields’ or the ‘Project’) is located approximately 13 kilometres south of Uranium City, Saskatchewan. Goldfields hosts the Box and Athona gold deposits, as well as additional gold showings within the prospective Goldfields Syncline. The Box deposit was historically mined underground between 1939 and 1942, producing 64,000 ounces of gold. The Project is located within a historical mining area and benefits from established infrastructure, including a road and hydro-powerline to the Box deposit. Nearby facilities and services in Uranium City include bulk fuel, civils contractors, and a commercial airport.

About Fortune Bay

Fortune Bay Corp. (TSXV:FOR,OTC:FTBYF; FWB:5QN; OTCQB:FTBYF) is a gold exploration and development company advancing high-potential assets in Canada and Mexico. With a strategy focused on discovery, resource growth and early-stage development, the Company targets value creation at the steepest part of the Value Creation Curve—prior to the capital-intensive build phase. Its portfolio includes the development-ready Goldfields Project in Saskatchewan, the resource-expansion Poma Rosa Project in Mexico, and two optioned Athabasca Basin uranium portfolios providing non-dilutive capital and upside exposure. Backed by a technically proven team and tight capital structure, Fortune Bay is positioned for multiple near-term catalysts. For more information, visit www.fortunebaycorp.com or contact info@fortunebaycorp.com.

On behalf of Fortune Bay Corp.

‘Dale Verran’
Chief Executive Officer
902-334-1919

Cautionary Statement

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. Words such as ‘expects’, ‘aims’, ‘anticipates’, ‘targets’, ‘goals’, ‘projects’, ‘intends’, ‘plans’, ‘believes’, ‘seeks’, ‘estimates’, ‘continues’, ‘may’, variations of such words, and similar expressions and references to future periods, are intended to identify such forward-looking statements, and include, but are not limited to, statements with respect to: the results of the Updated PEA, including future Project opportunities, future operating and capital costs, closure costs, AISC, the projected NPV, IRR, timelines, permit timelines, and the ability to obtain the requisite permits, economics and associated returns of the Project, the technical viability of the Project, the market and future price of and demand for gold, the environmental impact of the Project, and the ongoing ability to work cooperatively with stakeholders, including Indigenous Nations, local Municipalities and local levels of government. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward- looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate Indigenous Nations and local Municipalities, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. For more information on Fortune Bay, readers should refer to Fortune Bay’s website at www.fortunebaycorp.com.

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

SOURCE Fortune Bay Corp.

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The S&P 500 ($SPX) just logged its fifth straight trading box breakout, which means that, of the five trading ranges the index has experienced since the April lows, all have been resolved to the upside.

How much longer can this last? That’s been the biggest question since the massive April 9 rally. Instead of assuming the market is due to roll over, it’s been more productive to track price action and watch for potential changes along the way. So far, drawdowns have been minimal, and breakouts keep occurring. Nothing in the price action hints at a lasting change — yet.

While some are calling this rally “historic,” we have a recent precedent. Recall that from late 2023 through early 2024, the index had a strong start and gave way to a consistent, steady trend.

From late October 2023 through March 2024, the S&P 500 logged seven consecutive trading box breakouts. That streak finally paused with a pullback from late March to early April, which, as we now know, was only a temporary hiccup. Once the bid returned, the S&P 500 went right back to carving new boxes and climbing higher.

New 52-Week Highs Finally Picking Up

If there’s been one gripe about this rally, it’s that the number of new highs within the index has lagged. As we’ve discussed before, among all the internal breadth indicators available, new highs almost always lag — that’s normal. What we really want to see is whether the number of new highs begins to exceed prior peaks as the market continues to rise, which it has, as shown by the blue line in the chart below.

As of Wednesday’s close, 100 S&P 500 stocks were either at new 52-week highs or within 3% of them. That’s a strong base. We expect this number to continue rising as the market climbs, especially if positive earnings reactions persist across sectors.

Even when we get that first day with 100+ S&P 500 stocks making new 52-week highs, though, it might not be the best time to initiate new longs.

The above chart shows that much needs to align for that many stocks to peak in unison, which has historically led to at least a short-term consolidation, if not deeper pullbacks — as highlighted in yellow. Every time is different, of course, but this is something to keep an eye on in the coming weeks.

Trend Check: GoNoGo Still “Go”

The GoNoGo Trend remains in bullish mode, with the recent countertrend signals having yet to trigger a greater pullback.

Active Bullish Patterns

We still have two live bullish upside targets of 6,555 and 6,745, which could be with us for a while going forward. For the S&P 500 to get there, it will need to form new, smaller versions of the trading boxes.

Failed Bearish Patterns

In the chart below, you can view a rising wedge pattern on the recent price action, the third since April. The prior two wedges broke down briefly and did not lead to a major downturn. The largest pullbacks in each case occurred after the S&P 500 dipped below the lower trendline of the pattern.

The deepest drawdown so far is 3.5%, which is not exactly a game-changer. Without downside follow-through, a classic bearish pattern simply can’t be formed, let alone be broken down from.

We’ll continue to monitor these formations as they develop because, at some point, that will change.

Perth, Australia (ABN Newswire) – Altech Batteries Limited (ASX:ATC,OTC:ALTHF) (FRA:A3Y) (OTCMKTS:ALTHF) announced a significant and strategically important development in its Silumina Anodes(TM) project, following formal engagement initiated from a leading global battery manufacturer and one of the world’s largest electric-vehicle battery manufacturer (‘Battery Group’). The Battery Group approached Altech expressing strong interest in the Company’s proprietary high-performance silicon-enhanced anode technology. This unsolicited approach represents a major validation of the technical progress achieved by Altech and underscores the growing global recognition of the breakthrough potential of its alumina-coated silicon innovations.

Following initial discussions, a mutual Non-Disclosure Agreement (NDA) was executed to enable the confidential technical exchange and evaluation of materials. As part of this collaboration, Altech has prepared and supplied Silumina AnodesTM samples to the Battery Group. These samples, developed under the leadership of Altech’s Chief Technical Officer Dr Jingyuan Lui, have now been shipped to the Battery Group for formal testing in their advanced battery-evaluation laboratories in China.

The Battery Group’s team, during preliminary discussions, indicated that across the industry they have not yet seen silicon additions deliver such meaningful performance improvements at low percentages.

Traditionally, attempts to integrate silicon into commercial lithium-ion anodes have been challenged by expansion-related degradation, unstable solid-electrolyte interphase (SEI) formation and rapid cycle-life fade. The strong performance of Altech’s coated silicon, achieved with only modest silicon loading, was highlighted as particularly noteworthy. The Battery Group acknowledged that very few material suppliers globally are producing silicon additives with this level of stability, consistency, and real-world applicability.

This early feedback reinforces the technical advantage and disruptive potential of Altech’s process.

The Battery Group has also requested that Altech undertake coating trials on their supplied graphite material to assess the performance impact of integrating Altech’s proprietary alumina technology directly onto their own anode substrate. Under the NDA, the Battery Group has dispatched several kilograms of representative graphite samples to Altech’s Perth laboratory, where Dr Lui’s team will apply the Company’s coating process and prepare evaluation batches. These coated graphite samples will then be returned to the Battery Group for benchmarking against their internal standards, providing a direct comparison of how Altech’s technology enhances their preferred graphite formulations.

UPDATE OF LONG CYCLE SILUMINA TESTING

Altech announced on 9 October 2025 a major advancement in its Silumina Anodes(TM) project, achieving the strongest battery-cycling performance recorded to date for its proprietary alumina-coated spherical silicon anode material. Since that announcement, the latest test results now demonstrate an impressive 83% capacity retention after 1,000 charge-discharge cycles with a 5% Silumina Anodes(TM) addition to a standard graphite anode. This represents a significant milestone for the Silumina Anodes(TM) technology, confirming both its durability and real-world commercial potential. Importantly, such cycle-life performance places Altech’s material at the forefront of next-generation silicon-enhanced anode technologies, strengthening its position in the rapidly evolving global battery materials market.

HOW SILUMINA ANODES(TM) IS MADE

Altech’s spherisation process transforms irregular silicon particles into perfectly rounded, alumina-coated spheres that integrate seamlessly within graphite anodes. The process begins with submicron silicon powders that are uniformly coated with a nanolayer of high-purity alumina, buffering against volume expansion during lithiation. These coated particles are then spherified through a precision-controlled thermal and mechanical process that rounds their geometry (refer Figure 1*). When blended into the graphite matrix, the spherical Silumina AnodesTM particles naturally occupy microscopic voids, where they can expand and contract freely during cycling without damaging the surrounding structure (refer Figure 2*). This optimised configuration mitigates mechanical stress, maintains electrode integrity, and enhances electrical connectivity. With only a 5% addition, the design achieves >40% capacity boost while preserving exceptional cycle stability over extended use.

Altech’s Managing Director Iggy Tan stated ‘This engagement from the world’s largest battery manufacturer is a powerful validation of our Silumina Anodes(TM) technology. Their early feedback, particularly noting they have not seen silicon additions perform this effectively at such low levels, reinforces the significance of our breakthrough. We are excited to advance this collaboration under the NDA and look forward to demonstrating how Altech’s coating technology can further enhance their graphite and anode performance.’

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/444MKKI0

About Altech Batteries Ltd:

Altech Batteries Limited (ASX:ATC,OTC:ALTHF) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS (‘Fraunhofer’) to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech’s land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

Source:
Altech Batteries Ltd

Contact:
Corporate
Iggy Tan
Managing Director
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com

Martin Stein
Chief Financial Officer
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com

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Perth, Australia (ABN Newswire) – Locksley Resources Ltd (ASX:LKY,OTC:LKYRF) (FRA:X5L) (OTCMKTS:LKYRF) announced the appointment of Ms. Stacy Newstead to its Advisory Board as Strategic Advisor – Materials Strategy.

Stacy Newstead brings U.S. defense materials expertise to advance Locksley’s critical mineral and commercialisation initiatives.

HIGHLIGHTS

– Stacy Newstead appointed as a Strategic Advisor to the Locksley Advisory Board

– Ms Newstead currently serves as Materials Strategy and Risk Manager at Lockheed Martin, overseeing U.S. supply chain risk mitigation for critical materials used in advanced defence systems

– Over two decades of experience across defence, critical minerals, and advanced materials sectors, including leadership roles at Huntington Ingalls Industries, Textron Systems, and Evolution Energy Solutions –

– Expertise spanning U.S. Department of Defence acquisition, system manufacturing and production, materials engineering, supply chain risk mitigation, critical component supply chains, and state and federal engagement for manufacturing facilities

– Appointment strengthens Locksley’s U.S. Government initiatives and supports commercialisation of American-sourced antimony and rare earth supply chains

– Locksley has submitted U.S. Govt White Paper funding request under Defence Production Act Title III DPA to advance project financing position and accelerate first mover status in re-establishing domestic Antimony industry and U.S supply chain strength

Ms. Newstead currently serves as Materials Strategy and Risk Manager at Lockheed Martin, where she leads initiatives to secure domestic and allied sources of key materials vital to U.S. defense manufacturing and national security. Her work focuses on assessing and mitigating material, pricing, and geopolitical risk across complex supply chains that underpin critical technologies including munitions, batteries, and aerospace systems.

A highly accomplished executive, Ms. Newstead brings more than 20 years of experience across U.S. Government, defense, and industrial sectors. Her prior roles include senior program leadership at Huntington Ingalls Industries and Textron Systems, as well as Chief Executive Officer of the U.S. subsidiary of Evolution Energy Minerals (ASX:EV1), where she led onshoring initiatives for graphite and advanced battery materials.

Her appointment reinforces Locksley’s position at the intersection of critical minerals, defense, and national security strategy, providing invaluable insight into U.S. policy, funding and industrial collaboration opportunities. This strengthens the Company’s ability to engage with U.S. partners and access Federal programs supporting domestic critical mineral supply chains, advancing Locksley’s mine-to-market strategy for U.S.-sourced antimony and rare earths.

Kerrie Matthews, Locksley CEO commented:

‘Stacy’s appointment represents another significant step in strengthening our U.S. advisory capability. Her deep understanding of defense material supply chains, coupled with her leadership at Lockheed Martin, brings exceptional strategic value to Locksley as we advance our mine-to-market development of American sourced antimony and rare earths.’

‘Her perspective on material security and risk will help guide our engagement with U.S. industry and government stakeholders as we scale from pilot to commercial operations.’

Ms Newstead commented:

‘The restoration of secure, transparent and domestic critical mineral supply chains is essential to both U.S. defense readiness and the broader energy transition. Locksley’s integrated mine-to-market model and U.S. operational footprint, position it as a key contributor to these national objectives. I’m honored to support the team’s strategy and growth trajectory.’

About Locksley Resources Limited:

Locksley Resources Limited (ASX:LKY,OTC:LKYRF) (FRA:X5L) (OTCMKTS:LKYRF) is an ASX listed explorer focused on critical minerals in the United States of America. The Company is actively advancing exploration across two key assets: the Mojave Project in California, targeting rare earth elements (REEs) and antimony. Locksley Resources aims to generate shareholder value through strategic exploration, discovery and development in this highly prospective mineral region.

Mojave Project

Located in the Mojave Desert, California, the Mojave Project comprises over 250 claims across two contiguous prospect areas, namely, the North Block/Northeast Block and the El Campo Prospect. The North Block directly abuts claims held by MP Materials, while El Campo lies along strike of the Mountain Pass Mine and is enveloped by MP Materials’ claims, highlighting the strong geological continuity and exploration potential of the project area.

In addition to rare earths, the Mojave Project hosts the historic ‘Desert Antimony Mine’, which last operated in 1937. Despite the United States currently having no domestic antimony production, demand for the metal remains high due to its essential role in defense systems, semiconductors, and metal alloys. With significant surface sample results, the Desert Mine prospect represents one of the highest-grade known antimony occurrences in the U.S.

Locksley’s North American position is further strengthened by rising geopolitical urgency to diversify supply chains away from China, the global leader in both REE & antimony production. With its maiden drilling program planned, the Mojave Project is uniquely positioned to align with U.S. strategic objectives around critical mineral independence and economic security.

Tottenham Project

Locksley’s Australian portfolio comprises the advanced Tottenham Copper-Gold Project in New South Wales, focused on VMS-style mineralisation

Source:
Locksley Resources Limited

Contact:
Kerrie Matthews
Chief Executive Officer
Locksley Resources Limited
T: +61 8 9481 0389
Kerrie@locksleyresources.com.au

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