Disseminated on behalf of  Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) and may include paid advertising.

• Lahontan has mobilized a track-mounted MDP-1500 RC drill to its flagship Santa Fe Mine in Nevada’s Walker Lane
• The company is conducting a 25-hole, 4,000-meter drill program focused on expanding and upgrading oxide gold and silver resources
• These updates underscore Lahontan’s long-term strategy of advancing Santa Fe from exploration into planning, scheduling, and permitting for the coming year

Lahontan Gold (TSX.V: LG) (OTCQB: LGCXF) is accelerating its flagship Santa Fe Mine, located in Nevada, by organizing a reverse-circulation drill rig to conduct a strategic fall drill program aimed at upgrading and expanding the project’s shallow oxide reserve. Lahontan, known for its position within the Walker Lane trend, is shifting its focus from broad resource definition to more technical groundwork that precedes mine planning and permitting, indicating progress in Santa Fe’s efforts towards mineral exploitation (ibn.fm/2cvRQ).

Lahontan currently has a program of 25 drill holes summing up to 4,000 meters with a focus on the York and Slab zones. These areas contain near-surface oxidation mineralization where previous drilling has shown extensive silver-gold potential. The coming RC campaign is designed to transform resources from the inferred to the indicated category while spreading its overall resource tentacles, setting the company up for economic and engineering evaluation in 2026.

The company already has a solid reputation as a Nevada-focused silver and gold explorer with a significant presence in the Walker Lane. Lahontan’s Santa Fe Mine, a 26.4 km² holding with a history of producing 702,067 ounces of silver and 359,202 ounces of gold, is an indication that it is worthy of redevelopment. The project benefits from a history of heap-leach operations, favorable geology, and proven reserves of mineralization.

Lahontan operates at the intersection of metallurgical testing, geology, and long-term mine development planning. In addition to its new drill program, the company is making inroads into metallurgical studies that will help the whole mineral development process. According to the CEO and Executive Chair, Kimberly Ann, it is “vital as the company pivots from resource definition to mine planning and permitting in 2026,” emphasizing the relevance of the coordinated approach. Company Vice President (Exploration) Brian Maher personally leads the field operations.

These technical and drilling updates highlight the company’s wider mission: to transform the Santa Fe Mine into a modern, economically viable oxide gold-silver operation. Lahontan’s strategy entails expansion drilling, resource conversion, long-range planning, and metallurgical analysis with a view to cutting down risks and optimizing operations.

For more information, visit the company’s website at www.LahontanGoldCorp.com.

NOTE TO INVESTORS: The latest news and updates relating to LGCXF are available in the company’s newsroom at ibn.fm/LGCXF

Disseminated on behalf of  Powermax Minerals Inc. (CSE: PMAX) (OTCQB: PWMXF) and may include paid advertising.

• Powermax Minerals plans a comprehensive Phase 1 exploration program at the Pinard REE Project in northern Ontario.
• The program combines historical datasets with new fieldwork, including mapping, sampling and airborne geophysics.
• Phase 2 fieldwork at the Cameron REE Project in British Columbia has been completed, with laboratory results pending.
• Both projects target light and heavy rare earth elements at a time when global demand is projected to triple by 2035.
• North American policymakers are increasing support for REE supply chains amid China’s export controls and processing dominance.

Powermax Minerals (CSE: PMAX) (OTCQB: PWMXF), a Canadian mineral exploration company, recently announced a planned detailed Phase 1 program for the newly optioned Pinard Project in northern Ontario, adding momentum to work already completed at the Cameron Project in British Columbia. Together, these initiatives reflect a growing strategic emphasis on rare earth elements (“REEs”) at a time when global demand is accelerating and supply risks are rising.

The Pinard Project covers 5,178 hectares across 255 contiguous claims in an area accessible by all-weather roads, roughly 70 kilometers northeast of Kapuskasing. According to the company, the property is underlain by the Pinard Intrusive Complex, an alkalic to peralkalic system comparable to other REE-associated intrusions across the southern Superior Province. Its geological characteristics place it within a regional trend that includes the Clay-Howells Alkaline Complex, located about 20 kilometers southwest and known to host niobium and rare earth mineralization (https://ibn.fm/XnFV2).

Powermax’s planned Phase 1 program integrates historical data with a modernized exploration approach. The company plans a full compilation of existing geological, geophysical and geochemical records, which will be digitized into a GIS framework to refine target modeling. Fieldwork will include prospecting, geological mapping and multi-media sampling (rock, soil and stream sediment) to pinpoint potential mineralized zones. Radiometric scanning and a high-resolution helicopter-borne magnetic and gamma-ray survey will further delineate structural features and radiometric anomalies.

CEO Paul Gorman describes the approach as a systematic effort to “rapidly advance our technical understanding of the Project by combining historical datasets with modern exploration techniques.” He added that this systematic approach will allow the company to efficiently identify and prioritize high-quality targets for follow-up work.

The company’s progress at Pinard follows the recent completion of Phase 2 fieldwork at the Cameron REE Project in British Columbia, announced last month (https://ibn.fm/PgY3m). Cameron spans nearly 3,000 hectares within the Monashee Group, a metamorphic and granitic region known for REE-bearing pegmatites, carbonatite zones and altered gneisses. The property’s lithologies host both light and heavy rare earth minerals, including monazite, allanite and xenotime.

Powermax’s Phase 2 program included geological mapping and extensive sampling: 100 soil samples, 100 stream sediment samples and 29 rock samples have been submitted to Agat Laboratories in Calgary. The lab, accredited under ISO/IEC 17025:2017, will analyze the samples under its 201-380 REE metals package, with select samples undergoing additional gold and graphite testing.

Rock chip sampling focused on exposures of quartz-biotite gneiss, granitic outcrops and carbonatite lenses, units frequently hosting REE mineralization. Stream sediment sampling targeted fine-grained material capable of reflecting upstream sources, while soil sampling across B-horizon layers provides coverage across both suspected mineralized zones and baseline areas.

Once lab results are processed, the data will be integrated with prior geophysical and geological findings to update Cameron’s exploration model and refine future drill targets. Powermax says this dataset will help guide the next phase of technical work.

The timing of these programs reflects broader market dynamics. Global demand for rare earth elements is projected to rise from 59,000 tonnes in 2022 to 176,000 tonnes by 2035, driven by electric vehicles, wind turbines and other clean-energy technologies. Meanwhile, China continues to dominate the supply chain, controlling roughly 60% of mining and around 90% of processing. Recent export restrictions have heightened concerns about supply security.

North American governments have been expanding support for domestic REE projects, including more than US$1 billion directed through the U.S. Defense Production Act and related initiatives. Canadian companies remain eligible for these grants and funding programs targeting supply chain resilience.

Powermax’s portfolio aligns with these policy shifts. Beyond Pinard and Cameron, the company holds options on the Atikokan REE Property in Ontario and owns 100% of the Ogden Bear Lodge Project in Wyoming, an increasingly strategic jurisdiction given U.S. defense priorities. With these assets, along with a focus on systematic geoscience, staged exploration and jurisdictionally secure locations, Powermax is positioning itself within the broader effort to expand North American REE outputs at a time of growing investor interest.

For more information, visit the company’s website at www.PowermaxMinerals.com.

NOTE TO INVESTORS: The latest news and updates relating to PWMXF are available in the company’s newsroom at https://ibn.fm/PWMXF

• The company posted record nine-month net income as new electronic monitoring contracts expanded across U.S. and international markets.
• Since mid-2024, SuperCom has secured more than 30 new U.S. EM contracts and entered 13 additional states.
• Its first state-level Department of Corrections contract in the U.S. marks a significant step that further strengthens the company’s competitive position.
• SuperCom’s modular PureSecurity(TM) platform integrates GPS, RFID, and cloud-based tools for home confinement, parole monitoring, and domestic-violence programs.
• Global research continues to show that EM can reduce recidivism, helping jurisdictions seek cost-efficient, community-based alternatives to incarceration.

As criminal justice systems across the United States look for cost-efficient ways to reduce incarceration and improve public safety, demand for electronic monitoring technology has grown considerably. SuperCom (NASDAQ: SPCB), a global provider of secured e-Government, IoT, and cybersecurity solutions, has been among the beneficiaries of this shift. Over the past year, SuperCom has expanded its footprint across the U.S. and achieved record financial performance as contracts accelerated in both domestic and international markets.

SuperCom recently reported record nine-month net income as its electronic monitoring contracts increased both nationwide and globally. The company posted a record net income of $6 million for the first nine months of 2025, more than doubling the prior year, along with notable growth across other metrics, including gross profit (https://ibn.fm/cRz7N). The expansion reflects a strategic refocus on its PureSecurity(TM) suite, a modular set of tools designed for offender tracking, house arrest, parole supervision, and domestic-violence protection.

The company’s expanding presence in the U.S. remains one of its most notable developments. Since mid-2024, SuperCom has secured more than 30 new EM contracts and entered 13 new states, often replacing established providers. This rise in state and county-level adoption signals growing confidence in the company’s technology and its ability to support courts, corrections agencies, and community-supervision programs. A recent highlight was SuperCom’s first state-level Department of Corrections contract, a milestone that demonstrates progress in competing for higher-volume, multi-year public-sector agreements (https://ibn.fm/CUusJ).

The DOC contract, achieved through a strategic partnership signed earlier this year, was awarded under Arizona’s statewide Behavioral Health services and includes the deployment of SuperCom’s GPS-based electronic monitoring technology as part of a broader suite of rehabilitative and supervision services. Implementation is expected to begin in January 2026.

SuperCom’s PureSecurity(TM) platform combines GPS, RFID, and cloud-based monitoring to offer various configurations for different supervision environments. PureOne is a single-piece GPS bracelet used for continuous monitoring indoors and outdoors, while PureCom serves as the RF base station for house-arrest programs. PureTag, PureBeacon, and PureTrack(TM) extend capabilities into indoor monitoring and smartphone-based tracking. For domestic-violence protection, SuperCom offers PureShield(TM) in the U.S. and PureProtect(TM) in the EU, mobile applications that alert victims and authorities when an offender violates proximity restrictions.

The platform is supported by PureMonitor, the company’s cloud system that compiles location data, compliance alerts, and reporting tools that can be accessed across devices.

Electronic monitoring has drawn the attention of policymakers for its potential to offer structured supervision without the high costs of traditional incarceration. Research from multiple academic studies supports its effectiveness. In Argentina, electronic monitoring reduced one-year recidivism by as much as 48%, while a study in Australia reported a 28% reduction in two-year reoffending rates. In France, the likelihood of reoffending within five years decreased by roughly 10%. These findings illustrate how courts can use EM to support rehabilitation and maintain community ties while still enforcing restrictions.

For SuperCom, these trends align with jurisdictions seeking alternatives that balance public safety with budget pressures. Many counties and states face overcrowded facilities and rising operating costs, making electronic monitoring an appealing supplement or replacement for certain categories of incarceration. SuperCom emphasizes that EM can also expand the reach of domestic-violence protection programs, where proximity-alert tools can provide real-time warnings and documentation for law-enforcement responses.

The company’s recent run of contract wins has been concentrated heavily in the United States, where it has increasingly displaced competitors. Entering 13 new states since 2024 suggests that agencies seeking new suppliers have been receptive to SuperCom’s approach, pricing structure, and technology. Several contracts have included multi-year terms, providing recurring revenue visibility and strengthening its market position.

Globally, interest in EM technology has also continued to rise, driven by the same pressures affecting U.S. jurisdictions: population growth, cost constraints, and a shift toward community-based supervision models. SuperCom’s international deployments span EMEA and NAFTA. The company has indicated that it expects this trend to continue as more governments examine evidence showing reductions in reoffending and improved reintegration outcomes.

Financially, the record nine-month net income reported in 2025 reflects this broad expansion. While the company has not released full-year results, its performance through the first three quarters underscores the steady growth in EM demand. As revenue from long-term contracts accumulates, margins have improved, in part due to the scalability of the company’s solutions.

The electronic monitoring market is undergoing significant change as agencies evaluate new technologies and suppliers. With continued expansion in the U.S., a growing international footprint, and a product suite aligned with correctional and public-safety needs, SuperCom has emerged as an increasingly prominent participant in this expanding market for digital supervision and monitoring technologies.

For more information, visit the company’s website at www.SuperCom.com.

NOTE TO INVESTORS: The latest news and updates relating to SPCB are available in the company’s newsroom at http://ibn.fm/SPCB

Disseminated on behalf of  ESGold Corp. (CSE: ESAU) (OTCQB: ESAUF) and may include paid advertising.

• ESGold Corp., a development-stage company committed to the acquisition, exploration, and development of high-quality mineral properties worldwide, is optimistic that gold and silver demand will continue to grow in the new year.
• Gold continues to grow as an increasingly popular investment hedge, representing a major opportunity for ESGold.
• The company has doubled down on its Montauban gold and silver project, with development ahead of schedule, and is on track for gold and silver production by 2026.
• The company has inked a C$9 million binding term sheet with Ocean Partners UK Ltd. to advance its operations on the facility, demonstrating its confidence in the project.

ESGold (CSE: ESAU) (OTCQB: ESAUF), a development-stage company committed to acquiring, exploring, and developing high-quality mineral properties worldwide, is optimistic that gold and silver demand will continue to grow in the new year. The demand for gold and silver in technology applications, powered by the massive growth in AI, coupled with the ongoing search for more stable investment options and ways to preserve wealth, point to continued strength in gold and silver markets.

According to the World Gold Council, technology demand for gold reached approximately 326 tons last year, a 7% year-over-year increase. This translates to more than 10.5 million ounces consumed across electronics and industrial applications (https://ibn.fm/ofPp2). Over and above that, 2025 is on track to become the second-best-performing year for gold on a price basis, having grown in value by 56.7%, but still well behind the best-performing year, 1979, when the value grew by 126.6% (https://ibn.fm/WaB43).

This points to gold serving as a traditional hedge during times of uncertainty, alongside its growing adoption worldwide. Experts and analysts foresee continued gains into 2026, which ESGold aims to capitalize on heavily. This growth, coupled with the AI boom, presents excellent opportunities for the company, particularly as it works to cement its position as a leader in its space while creating shareholder value.

With hardware at the backbone of AI algorithms and their reliance on gold and silver for circuit boards and data hubs, ESGold projects a surge in gold demand going forward. As such, it is doubling down on its Montauban facility. The facility is rich in gold and silver, with recent AI-enhanced 3D models of the area revealing continuous, stacked mineralized zones that define multiple gold- and silver-rich sulphide horizons extending beyond historical mine workings.

“The Montauban model is the most significant technical milestone in the project’s modern history,” noted Gordon Robb, ESGold’s CEO and Director. “What was once seen as a series of small, isolated deposits now seems to emerge as a continuous multilayered mineral system with dimensions not previously recognized at Montauban,” he added (https://ibn.fm/9uAar).

As a demonstration of the company’s confidence in the facility and its bullish stance on the current market, ESGold recently inked a C$9 million binding term sheet with Ocean Partners UK Ltd, affording it flexibility as it continues to explore and advance the Montauban project (https://ibn.fm/euFjN). With an investment of C$15 million already made so far on the property, covering roads, power access, and a 20,000 sq. ft. processing facility, this agreement will guarantee a stable, long-term sales channel for all its gold and silver dore, while further creating certainty around revenue realization and reinforcing the project’s economic foundation.

All operations at the Montauban facility are ahead of schedule. The company is on track to bring gold and silver to market by 2026, positioning itself ahead of its slower-moving peers. ESGold continues to demonstrate what can be done with exemplary leadership and the right resources, factors that Mr. Robb continues to emphasize, even as he helps steer the company towards becoming a leader in its space.

For company information, visit the company’s website at www.ESGold.com.

NOTE TO INVESTORS: The latest news and updates relating to ESAUF are available in the company’s newsroom at https://ibn.fm/ESAUF

Disseminated on behalf of  Ucore Rare Metals Inc. (TSX.V: UCU) (OTCQX: UURAF) and may include paid advertising.

• Ucore Rare Metals is developing a first-of-its-kind North American processing hub dedicated to refining samarium and gadolinium oxides.
• The U.S. Geological Survey’s draft 2025 supply-risk model identifies samarium as the most at-risk mineral among the 50 materials evaluated.
• Ucore’s Kingston facility is part of a wider company strategy to establish a Western alternative to China’s dominant magnet-materials infrastructure.

As the United States faces its most severe supply-chain warning yet for a key defense mineral, one project in Canada has suddenly become more strategically important than ever. The latest U.S. Geological Survey draft ranking shows samarium carrying the highest supply disruption risk among all evaluated critical minerals for 2025, a development that directly elevates the relevance of Ucore Rare Metals (TSX.V: UCU) (OTCQX: UURAF) and its planned Ontario-based samarium-gadolinium refining facility. 

Ucore Rare Metals is developing a first-of-its-kind North American processing hub dedicated to refining samarium and gadolinium oxides, part of a broader strategy to rebuild a complete, Western-controlled supply chain for critical materials used in advanced manufacturing, energy technologies and defense applications. The U.S. Geological Survey’s draft 2025 supply-risk model identifies samarium as the most at-risk mineral among the 50 materials evaluated, placing it at the highest potential for supply disruption due to heavy concentration of global production in a single country. According to the USGS, samarium ranks number one on the agency’s overall disruption index, while gadolinium also appears in the high-risk tier due to similar production and processing concentration trends.

This finding follows years of analysis showing that rare-earth metals, particularly those used in permanent magnet alloys, are among the most vulnerable materials in the U.S. industrial supply chain. Samarium’s elevated ranking is especially notable because it is essential for samarium-cobalt (“SmCo”) permanent magnets, which are prized for their high-temperature performance and resistance to demagnetization. These magnets remain indispensable in aerospace, defense, naval propulsion and critical energy applications where other types of magnets cannot safely operate.

China’s dominance is the central reason for the heightened risk signal. The USGS Mineral Commodity Summaries confirm that China is the world’s leading producer and processor of rare-earth elements, controlling the vast majority of global supply, including samarium production streams derived from rare-earth separation facilities. With the U.S. dependent on imports for nearly all commercial quantities of separated rare-earth materials, the combination of geopolitical tension and supply concentration makes samarium vulnerability a pressing strategic concern. SmCo magnets are incorporated into guidance systems, high-performance electric motors, radar components, precision navigation technologies and various classified defense applications. Their performance under extreme heat makes a reliable supply of samarium and gadolinium technically irreplaceable in several mission-critical systems.

This worsening supply-chain imbalance is precisely what Canada moved to address when the federal government announced up to C$36.3 million in conditional funding to support Ucore’s Kingston project. The announcement noted that the contribution would come from two sources: Natural Resources Canada’s Global Partnerships Initiative and FedDev Ontario. The funding is intended to help Ucore establish a North American facility dedicated to processing samarium and gadolinium oxides for the samarium-cobalt magnet supply chain, with all funding contingent on standard due-diligence reviews and final agreements This represents one of the most targeted federal investments to date in a facility explicitly aligned with defense-grade magnet materials.

Ucore’s Kingston facility is part of a wider company strategy to establish a Western alternative to China’s dominant magnet-materials infrastructure. The company is also advancing its RapidSX technology platform, which is designed to improve the efficiency of rare-earth separation by enhancing traditional solvent-extraction processes. RapidSX can achieve separation performance comparable to conventional systems while reducing plant footprint and processing times, a characteristic that could make domestic separation more cost-competitive with entrenched Chinese operations. 

The Kingston plant is designed to focus on mid-stream processing, converting mixed rare-earth feedstocks into high-purity samarium and gadolinium oxides suitable for downstream alloying into SmCo magnet materials. This fills a critical gap because both the United States and Canada currently lack commercial-scale facilities capable of producing separated heavy rare-earth oxides at purity levels needed for magnet manufacturers. By building this processing tier in North America, Ucore aims to enable a more complete mine-to-magnet supply chain that does not rely on China for separation, refinement or high-performance magnet feedstocks.

The timing could not be more consequential. The USGS’s new risk ranking marks the clearest signal yet that samarium is among the minerals most vulnerable to geopolitical disruption. With demand from aerospace, defense and electrification technologies expected to rise, the need for stable, Western-aligned processing capacity becomes increasingly urgent. The Ucore Kingston initiative offers a direct response to this vulnerability by establishing a facility capable of refining the specific oxides required for critical magnet alloys, backed by a conditional federal commitment and a technology platform built around greater efficiency and scalability.

As the U.S. and its allies work to strengthen critical-mineral resilience, Ucore Rare Metals stands at the center of a strategically important development in the supply chain. The risk signal is flashing red, and Ucore’s Kingston facility provides a tangible path to securing materials that modern defense systems cannot operate without.

For more information, visit www.Ucore.com.

NOTE TO INVESTORS: The latest news and updates relating to UURAF are available in the company’s newsroom at https://ibn.fm/UURAF

Disseminated on behalf of LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF) and may include paid advertising.

• In recent months, the gold market has surged above $4,000 per ounce, with some analysts predicting a possible $5,000 per ounce record during the coming year
• Gold explorer and near-term producer LaFleur Minerals is preparing to restart operations at its flagship operation in the renowned Abitibi Greenstone Belt of Quebec, a prime location in the heart of Val-d’Or’s active gold camp
• The company benefits from a de-risked profile with a district-scale gold exploration project, plus a historically producing, fully permitted, gold mill, forming a vertically integrated gold producer model
• LaFleur will have the results of a Preliminary Economic Assessment in January along with assay results from test drilling to help provide guidance as the operation gets up and running during the early part of the coming year

Investors who are long on gold have been enjoying the meteoric rise of the precious metal market this year, which has kept gold over $4,000 for weeks even amid dips for profit-taking (https://ibn.fm/658ng). Some analysts remain optimistic gold will even top $5,000 in the coming months amid a cooling economy, a significant increase over the $1,600 an ounce price post-COVID only three years ago. 

“Third quarter supply-demand data supports a continued central bank bid. The positive structural picture shows inelastic demand from central banks and ETF investment diverting supply from the jewelry market,” Deutsche Bank said in a note to clients regarding its forecast for prices to continue to rise (https://ibn.fm/thWDL). “Also, overall growth in demand outpaces supply.”

Gold explorer and near-term producer LaFleur Minerals (CSE: LFLR) (OTCQB: LFLRF) anticipates firing up its flagship operation in the renowned Abitibi Gold Belt of Quebec early in 2026, sourcing material from its district-scale Swanson Gold Project and producing it through its de-risked 750 tpd capacity, fully permitted and refurbished Beacon Gold Mill asset. 

The market factors coinciding with the timing of the operation launch are exciting for LaFleur, which is focused on processing its own feed while also contemplating the potential of supplementing its revenues with custom work contracts for other miners working nearby Abitibi claims, given its strategic position in Canada’s largest gold producing belt, flush with nearby gold deposits – a region currently undergoing increasing consolidation and M&A activity such as recently announced IAMGOLD and Fresnillo/Probe deals.  

“There is the option to upgrade the mill as we bring more projects into the fold. So certainly, this is just the beginning. … But basically all the technical studies and all the work that we’re doing is focused on Swanson,” LaFleur CEO Paul Ténière said during an October interview with Crux Investor (https://ibn.fm/pNVQx).

“The Beacon Gold Mill is about 45 to 50 kilometers south of Swanson, and from the very beginning, as part of this PEA (Preliminary Economic Assessment), we’ve looked at integrating these two projects together. Traditionally they were kind of looked at separately,” he added. “On the geology side, we’re doing a resource update. As part of that, we’re actually doing some twin holes and other additional holes at the Swanson deposit. We’ve got at least a dozen holes that are being done there. We’re more than halfway through that now and we’re just waiting for assay results to come back from that.”

LaFleur expects to have the results of its PEA available in January 2026, just a month away. With the Beacon Gold Mill’s recommissioning already able to draw on existing on-site stockpiles for initial feed and test runs, the company is able to press forward faster than many of its peers toward generating cash flow.

“Sometimes with PEA levels you’ll make assumptions with metallurgical testing — recovery rates based on maybe some older studies that have been done — but in this case we’re actually going to have tangible data,” Ténière said. “There’s cleanup to do, there’s maintenance to do at the mill. … So that everything is tuned up properly, so that when Swanson comes into play in early 2026, everything is running smoothly.”

For more information, visit the company’s website at LaFleurMinerals.com.

NOTE TO INVESTORS: The latest news and updates relating to LFLRF are available in the company’s newsroom at https://ibn.fm/LFLRF

Qualified Person Statement:

All scientific and technical information contained in this article has been reviewed and approved by Louis Martin, P.Geo. (OGQ), Exploration Manager and Technical Advisor of the company and considered a Qualified Person for the purposes of NI 43-101.

Disseminated on behalf of Silvercorp Metals Inc. (NYSE-A/TSX: SVM) and includes paid advertisement.

• Precious metals producer Silvercorp recently reported one of its strongest quarterly performances from its mines in China and is expanding with development in Ecuador
• Silvercorp is working to expand ore production at its flagship Ying operations, to obtain the permits to boost mine production, and to commission its El Domo mine by the end of next year

Silvercorp Metals (NYSE American/TSX: SVM) is building on a quarter marked by one of its strongest quarterly revenue and higher gold and silver production from its operations in China with new updates on its growing pipeline in Ecuador. Silvercorp’s profitable operations in China are complemented by construction and development-stage projects in Ecuador, aligning with the company’s strategy of diversifying its asset base through disciplined acquisitions and project development. 

Rising market prices helped lift Silvercorp’s revenue report for gold by 64% year-over-year in its latest quarterly financial report issued Nov. 6. Silver, the most significant contributor to the company’s revenue stream, was responsible for about 67% of the quarterly net revenue. 

“We expect to mine approximately 346,000 tonnes of ore in this current quarter Q3 compared to the 265,000 tonnes mined in Q2,” Silvercorp President Lon Shaver said while discussing the financial report during a conference call with investors Nov. 7 (https://ibn.fm/bTQGf).

“We’re now in the process of applying to increase the TLP-LM mining permit to 600,000 tonnes per year with approval expected later this quarter,” he added in regard to the company’s flagship Ying mine complex in China. “Once all approvals are in place, Ying’s total permitted annual mining capacity will rise to 1.32 million tonnes from approximately 1 million tonnes currently.”

Silvercorp also reported a 249% increase in the amount of material it’s moving for site preparation, roads and channel construction at the El Domo mine in Ecuador. The project is expected to begin production by the end of 2026 with an open pit, taking advantage of a flat-lying deposit that begins just 30 meters from surface (https://ibn.fm/FcFgW).

Once in production, El Domo is expected to increase Silvercorp’s revenue by at least 50%, with a significant contributions from copper and gold (https://ibn.fm/V0tFX). Silvercorp is also working to develop the Condor Gold project in Ecuador, seeking licensing and permits to access Condor’s underground deposits for detailed drilling.

For more information, visit the company’s website at https://silvercorpmetals.com/welcome.

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• The report maintains $25 per share valuation for Soligenix, based on a probability-adjusted discounted cash flow model that considers potential future revenues.
• The centerpiece of the Zacks analysis focuses on what is characterized as a “very encouraging” 48% blinded response rate.
• With 50 patients now enrolled out of a planned 80-patient study, the company remains on track for the interim analysis to occur in the second quarter of 2026.

When a late-stage clinical trial reports response rates nearly double what researchers expected, yet the stock market barely reacts, seasoned analysts take notice and wonder if investors are missing something significant. Soligenix (NASDAQ: SNGX), a New Jersey-based biopharmaceutical company focused on developing products to treat rare diseases where there is an unmet medical need, recently received updated analysis from Zacks Small-Cap Research following its announcement that milestone enrollment had been reached in the ongoing confirmatory Phase 3 FLASH2 trial of HyBryte(TM) for the treatment of cutaneous T-cell lymphoma, with the overall blinded response rate standing at 48% for patients who have completed treatment (https://ibn.fm/Ol9Er).

In the Nov. 20, 2025, research report published by Zacks Small-Cap Research, expert analysis indicated strong conviction about the 50-patient enrollment milestone and encouraging clinical results while noting puzzlement at the market’s subdued response. The report maintains Zacks’ $25 per share valuation for Soligenix, based on a probability-adjusted discounted cash flow model that considers potential future revenues from the company’s product pipeline, including HyBryte, SGX302 and SGX945. This valuation represents substantial upside potential from the stock’s Nov. 20, 2025, closing price of $1.32, though the report acknowledges the model is dependent upon continued clinical success and will be adjusted accordingly based upon future results.

The centerpiece of the Zacks analysis focuses on what is characterized as a “very encouraging” 48% blinded response rate. To understand why this figure carries such weight, the report walks readers through the statistical assumptions that underpinned the FLASH2 study design. Soligenix powered the trial using an anticipated overall blinded study response rate of 25%, which incorporated conservative assumptions of a 40% response rate in the HyBryte treatment arm and a 10% response rate in the placebo arm through 18 weeks of treatment. The 25% blinded rate represents the average of these two figures, assuming roughly equal enrollment between treatment and placebo cohorts. While acknowledging that exact numbers may vary, the report emphasizes that the fundamental point remains compelling: for the blinded response rate to reach 48%, the active treatment arm is likely exhibiting a very robust response rate.

This mathematical analysis gains additional credibility when compared against ongoing independent research. Dr. Ellen Kim, director of the Penn Cutaneous Lymphoma Program and lead investigator of the FLASH2 study, has reported a 75% response rate after 18 weeks of treatment in an open-label, investigator-initiated study (“IIS”) currently being conducted at the University of Pennsylvania (https://ibn.fm/0wPtV). The Zacks report notes that if the blinded FLASH2 data were to suggest an 86% response rate in the active arm, this would actually exceed even Kim’s impressive 75% finding.

The report explicitly addresses what it calls a puzzling market reaction to the enrollment milestone announcement. Despite what the report views as highly encouraging clinical data, the stock price response was muted. The Zacks analysis concludes that “unless there is an unprecedented response rate among placebo-treated patients, we estimate that the response rate in the HyBryte cohort is likely similar to that seen in the ongoing IIS of 75%.” The report notes that “we were somewhat perplexed by the muted response by the stock” given what it views as very encouraging results.

The timing implications also receive significant attention in the Zacks report. With 50 patients now enrolled out of a planned 80-patient study, the company remains on track for the interim analysis to occur in the second quarter of 2026. This interim analysis, to be conducted by an independent Data Monitoring Committee, represents a critical inflection point for the program.

The valuation methodology employed by Zacks centers on a probability-adjusted discounted cash flow model that incorporates potential future revenues from three key pipeline assets: HyBryte for cutaneous T-cell lymphoma, SGX302 for psoriasis and SGX945 for Behçet’s disease. The commercial opportunity underlying the Zacks valuation becomes clearer when considering the patient population. Cutaneous T-cell lymphoma affects approximately 31,000 individuals in the United States with approximately 3,200 new cases annually. Currently, there is no FDA-approved first-line therapy specifically for early-stage CTCL, creating an opportunity for HyBryte to potentially become the first photodynamic therapy to receive such approval if the FLASH2 trial proves successful.

Looking ahead, the second quarter 2026 interim analysis represents the next major catalyst for Soligenix. The Zacks report expresses confidence that the trial is trending in the right direction based on the 48% blinded response rate, stating that “this update gives us a lot of confidence that the trial is at the very least trending in the right direction.” With no changes to the financial model following the enrollment milestone, the valuation remains at $25 per share, representing the report’s view that the risk-reward profile remains attractive for investors willing to accept the inherent uncertainties of late-stage clinical development.

For more information, visit www.Soligenix.com.

NOTE TO INVESTORS: The latest news and updates relating to SNGX are available in the company’s newsroom at https://ibn.fm/SNGX

• A Coresight Research report highlights how AI is underpinning every stage of grocery retail.
• Smart carts, an area where A2Z is an established leader, are highlighted in the report as one of the most transformative tools in this shift.
• The company’s smart cart turns mass marketing into “me marketing” by using AI to tailor promotions, recommendations, content and advertisements based on each shopper.

The rapid transformation of the retail sector has made artificial intelligence (“AI”) one of the most important forces reshaping shopper behavior, and few companies are better positioned within this shift than A2Z Cust2Mate Solutions (NASDAQ: AZ), an innovator in AI-powered smart-cart technology that enables seamless in-store checkout, personalized promotions and real-time data intelligence. A2Z provides retailers with an advanced platform that blends automation, shopper analytics and frictionless checkout to improve margins and enhance the customer experience.

A recent Coresight Research report highlights how AI is underpinning every stage of grocery retail, from demand forecasting and shelf analytics to checkout automation and hyper-personalized engagement. Titled “Five Ways AI Is Being Used in Grocery and Mass Retailing—and What’s Next,” the report notes that retailers deploying AI-driven demand planning tools have already reduced food waste, improved availability and increased sales through data-driven decisions.

Smart carts, an area where A2Z is an established leader, are highlighted in the report as one of the most transformative tools in this shift, enabling shoppers to check out directly from the cart and allowing retailers to collect detailed, real-time information about purchasing behavior. In fact, the report notes that 63% of U.S. smart-cart users value faster checkout above all other features, reflecting growing demand for frictionless shopping experiences.

The report observes that retailers deploying AI-driven demand planning tools have already reduced food waste, improved availability and increased sales through data-driven decisions. AI-enabled, shelf-monitoring robots are detecting out-of-stocks and pricing inconsistencies in real time, reducing labor demands and improving accuracy. In addition, Coresight reports that grocers increasingly rely on computer vision tools, automated shelf tracking and robotics to enhance operations and reduce losses, improving the customer experience through better-stocked and better-managed stores.

Coresight also emphasizes the rising importance of seamless checkout solutions powered by computer vision and smart sensors. These technologies reduce theft, minimize scanning errors and generate valuable data that retailers can use to personalize promotions and improve store layouts.

Coresight interviewed Cust2Mate chief marketing officer Yaniv Zukerman, who explained that the company’s smart cart turns mass marketing into “me marketing” by using AI to tailor promotions, recommendations, content and advertisements based on each shopper’s behavior, preferences, real-time activities, basket content and location in the store.

“Cust2Mate smart carts track activities and events in real time, they create a closed-loop system where every offer is measurable, personal and performance-driven,” the report noted. “By integrating real-time shopper insights with promotional strategies, grocers can help brands deliver more targeted campaigns. . . . This helps align the interests of retailers, suppliers and shoppers alike, and creates value for the shopper, builds trust and long-term loyalty and drives effective and impactful promotional performance for retailers and CPG companies.”

The report describes how Cust2Mate creates a closed-loop system in which every offer is measurable and performance driven, yielding better outcomes for retailers, brands and customers. It also details measurable results from Cust2Mate deployments, including up to a 50% increase in basket size, a 15% uplift in basket value and an average of more than 60% of shoppers returning to use the carts regularly. These metrics highlight both consumer satisfaction, reflected in a 4.3 out of 5 average rating, and strong operational efficiencies, with many retailers removing multiple traditional checkout lanes as a result of smart cart adoption.

As the Coresight report illustrates, the industry is on the cusp of an agentic-AI era in which virtual agents autonomously complete shopping tasks, compare prices and streamline purchasing for consumers. In this environment, retailers will increasingly depend on systems that provide high-quality, structured product data and real-time visibility into shopper behavior.

This is precisely where A2Z Cust2Mate stands out. By integrating AI, computer vision and retail analytics directly into the shopping cart, which is the most central touchpoint in the physical store, the company provides retailers with the tools needed to thrive in a landscape defined by automation, personalization and data-driven decision-making.

As more retailers accelerate the digitalization of their stores, solutions such as Cust2Mate are poised to play an even greater role in shaping the next chapter of grocery and mass retail. By delivering a uniquely integrated combination of frictionless checkout, personalized engagement, operational efficiency and real-time analytics, A2Z Cust2Mate Solutions Corp. has positioned itself as one of the leading technology providers in an industry moving rapidly toward automation and AI-enabled intelligence.

For more information, visit www.Cust2Mate.com.

NOTE TO INVESTORS: The latest news and updates relating to AZ are available in the company’s newsroom at https://ibn.fm/A2Z

Disseminated on behalf of Powermax Minerals Inc. (CSE: PMAX) (OTCQB: PWMXF) and may include paid advertising.

• Powermax Minerals has completed a 1,409-line-kilometre high-resolution airborne magnetic and radiometric survey over its Atikokan REE Property in northwestern Ontario.
• The survey, conducted by Geo Data Solutions GDS Inc., met Natural Resources Canada and IAEA standards for data quality.
• Results will help refine structural and lithological interpretations and guide exploration targeting in an underexplored segment of the Atikokan metasedimentary belt.
• The Atikokan project is one of four REE properties Powermax is advancing across Canada and the United States.
• Rising global demand for rare earth elements continues to strengthen the case for new domestic supply in stable jurisdictions.

Powermax Minerals (CSE: PMAX) (OTCQB: PWMXF), a Canadian mineral exploration company, has taken another step forward in its rare earth exploration efforts in northwestern Ontario, announcing the completion of a high-resolution airborne geophysical survey at its Atikokan REE Property. The helicopter-borne magnetic and radiometric survey, carried out by Geo Data Solutions GDS Inc., covered 1,409 line kilometers and was designed to improve geological understanding and identify potential mineralized zones across the 9,416-hectare property, according to a recent company release (https://ibn.fm/Sj3NY).

The survey used 50-meter line spacing and 500-meter tie lines to generate detailed magnetic and gamma-ray spectrometric datasets. The Eurocopter Astar 350BA+ maintained an average clearance of 44 meters, allowing for consistent data acquisition across varied terrain. All work was completed under Natural Resources Canada and International Atomic Energy Agency airborne spectrometry standards, the company said.

Magnetic noise levels remained within acceptable limits, GDS reported, while GPS accuracy and drape-following performance contributed to stable readings. Calibration of potassium, thorium, and uranium signatures produced consistent results likely to support the identification of lithological changes and possible mineralized systems within the Atikokan metasedimentary belt.

Powermax CEO Paul Gorman said the dataset would help define structural trends that influence rare earth mineralization. “Completion of this high-resolution airborne survey marks a major step forward in advancing our Atikokan REE Property. The quality of the data is excellent and will allow us to enhance our understanding of the structural framework that controls mineralization in this underexplored part of the Atikokan metasedimentary belt,” Gorman added. “We look forward to integrating these geophysical results with ongoing geological interpretation and ground follow-up work.”

Post-flight data processing was conducted using Geosoft Montaj and Praga NASVD software to improve the signal-to-noise ratio. Deliverables include digital databases, GeoTIFF maps, and terrain models at 1:30,000 scale. Powermax plans to use the combined datasets to establish drill-ready targets for trenching or diamond drilling in a subsequent phase of exploration.

The Atikokan property lies within a structurally active corridor between the Wabigoon and Quetico sub-provinces, areas known for granitic rare earth and lithium-bearing pegmatites. The company optioned the project as part of a broader strategy to develop rare earth assets across multiple North American jurisdictions.

Powermax is currently progressing four rare earth element projects. In British Columbia, its Cameron project sits south of Revelstoke and has returned total rare earth oxide values of up to 1,943 ppm in Phase 1 sampling. In Wyoming, the company’s Ogden Bear Lodge project borders the Bear Lodge district, an area receiving interest from the U.S. Department of Energy and export credit agencies. Powermax also recently optioned the Pinard property in Ontario, located within a prospective alkaline intrusive complex.

The company’s exploration portfolio is expanding against a backdrop of intensifying rare earth demand. Global market projections point to substantial growth, with the sector expected to increase from US$3.95 billion in 2024 to US$6.3 billion by 2030 (https://ibn.fm/RwOyh). Consumption of rare earth oxides is forecast to rise from 59,000 tonnes in 2022 to 176,000 tonnes by 2035 as electric vehicles, wind turbines, and electronics manufacturing continue to scale (https://ibn.fm/Nq7a0).

Supply concentration remains high. China accounts for about 60% of mining output and 90% of processing capacity. Recent export curbs have heightened supply-chain risks and reinforced the strategic value of rare earth development in stable jurisdictions such as Canada and the United States.

Policy support is strengthening as well. In 2025, Canada continued deploying capital through its Critical Minerals Infrastructure Fund, while the U.S. expanded Defense Production Act funding to stimulate domestic rare earth and magnet supply chains. These initiatives aim to accelerate project development and reduce reliance on foreign processing.

Powermax’s multijurisdictional rare earth strategy, combined with policy momentum, positions it to benefit from a market increasingly driven by electrification and security-of-supply considerations. The company expects to complete further data interpretation in the coming months, followed by ground-based work to assess identified anomalies. Whether the Atikokan property advances toward drilling will depend on the integration of the current survey with geological and geochemical findings already underway.

For more information, visit the company’s website at www.PowermaxMinerals.com.

NOTE TO INVESTORS: The latest news and updates relating to PWMXF are available in the company’s newsroom at https://ibn.fm/PWMXF