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Mayfair Gold is progressing its 100 percent-owned Fenn-Gib gold project toward production, with a development plan anchored by a robust 2026 pre-feasibility study (PFS). The company’s strategy emphasizes a smaller scale mine designed to accelerate permitting through Ontario’s One Project One Process platform and exploit near surface high-margin ounces in a capital efficient manner. The PFS only corresponds to 24 percent of the indicated gold resource leaving meaningful optionality for long term growth coupled with exploration upside across a broader land package.

Overview

Mayfair Gold (TSXV:MFG,NYSE American:MINE) is a development-stage company with the primary objective of advancing the Fenn-Gib gold project — a large, bulk-tonnage open-pit deposit located in one of Canada’s most prolific gold districts. The company’s technical team is executing on provincial permitting, Indigenous consultation, engineering and ongoing exploration to expand mineralization beyond the current pit constraints.

Mayfair Gold’s flagship Fenn-Gib gold project is located within the established Timmins Gold District in Ontario, which has produced more than 100 million ounces of gold historically.

The PFS, prepared in accordance with NI 43-101 standards and filed in January 2026, outlines a base-case economic model with an after-tax NPV (5 percent) of C$652 million and an IRR of 24 percent, using conservative gold prices, and demonstrates rapid payback potential. Under a spot price scenario, project economics improve markedly, underscoring the asset’s leverage to higher gold prices. With over $200 million in annual free cash flow once in operation the company will have a robust source of capital to fund growth initiatives.

Company Highlights

  • Robust Pre-feasibility Study: The 2026 PFS highlights compelling returns on a modest initial throughput design while leveraging a large resource base.
  • High-grade Early Focus: The staged plan targets higher-grade, near-surface material to optimize permitting timelines, construction risk, financing, and ultimately accelerate value capture.
  • Strategic Location: Fenn-Gib sits on the highly prospective Timmins Gold District, Ontario — a tier-one mining jurisdiction with established infrastructure and a long history of mining-related activity and supportive communities.
  • Strong Financial Backing: The company has a committed shareholder base, including Muddy Waters, Heeney Capital, Oaktree and Vestcor. With a tight share structure and strong Insider ownership of 35% there is clear alignment for long-term shareholder value creation.
  • Exploration Optionality: Mineralization at Fenn-Gib remains open at depth and along strike, with multiple underexplored targets identified across the property. This includes a Southern Block that has not been explored but sits directly on the prolific Porcupine-Destor fault.
  • Long-term optionality: With a truncated timeline to production the company will be in an advantageous spot for growth initiatives that can be funded with free cash flow.
  • CEO Nick Campbell, heads a technically strong and capital-markets-savvy team with a demonstrated ability to unlock value from high-quality gold assets (previously at Artemis Gold and Silvercrest Metals) and position projects for long-term growth.
  • COO Drew Anwyll is an experienced mine builder; he successfully permitted the Marathon PGM project in Ontario and was a senior executive during the construction, commissioning and start-up of Detour Lake, Canada’s largest gold mine.

Key Project

Fenn-Gib Gold Project

Fenn-Gib is Mayfair’s flagship asset, encompassing a significant indicated mineral resource of 181.3 million tonnes grading 0.74 g/t gold for 4.3 million contained ounces, and additional inferred ounces. The project benefits from excellent access via Highway 101 and proximity to regional mining services.

The 2026 PFS centers on a 4,800 tonnes-per-day open-pit operation designed to process approximately 1.04 million ounces of gold, representing 24 percent of the total resource and reflecting a conservative, execution-oriented approach. Highlights from the study include:

  • After-tax NPV of C$1.37 billion and IRR of 38 percent at current spot gold prices.
    2.7-year payback period on initial capital costs under the base case (1.7 year payback at January 2026 prices)

In addition to economic studies and active dialogue with Indigenous stakeholders, the company has executed engineering contracts with industry providers to support mine planning, processing design, environmental baseline work, and tailings/water management — positioning the project for upcoming permitting and potential construction decision milestones.

Exploration Potential

Beyond the defined pit shell, Fenn-Gib hosts multiple zones including the Main Zone, Deformation Zone, and Footwall Zone, with geological continuity extending along strike and at depth. Newly identified targets such as the Southern Block along the Porcupine Destor-Fault present opportunities for future discovery drilling and resource expansion.

Management Team

Nicholas Campbell — Chief Executive Officer

Nicholas Campbell is a mining executive with more than 20 years of experience across capital markets, corporate development, and mine development. Prior to joining Mayfair, he served as vice-president of Capital Markets at Artemis Gold, executive vice-president of business development at SilverCrest Metals, and chief financial officer of Goldsource Mines. Campbell leads Mayfair’s strategic vision and execution as the company transitions Fenn‑Gib into a defined development stage.

Drew Anwyll — Chief Operating Officer

Drew Anwyll is a professional engineer with over 30 years of global mining experience in both project and operations leadership. His background includes senior technical and operating roles at Generation Mining, Detour Gold, Barrick Gold and Placer Dome. Anwyll’s track record includes leadership through permitting, construction, commissioning, and operational phases, anchoring Mayfair’s operational planning and execution.

Zayem Lakhani — Vice-president, Capital Markets

Zayem Lakhani brings more than 17 years of expertise in investment management, equity research, and corporate development. Before joining Mayfair, he served as portfolio manager and head of Canadian equities at HSBC Global Asset Management, where he oversaw the investment process for approximately $4 billion in capital across diverse strategies. Lakhani brings a unique network and an investor’s perspective to help position the company’s story.

Darren Prins — Interim Chief Financial Officer

Darren Prins is a senior financial executive with extensive experience in corporate development, capital markets, mergers and acquisitions, financial reporting, risk management, budgeting, forecasting, and international tax planning. Prins has served as CFO for TSX, TSXV and NYSE‑listed companies across multiple industries, bringing strong financial stewardship to Mayfair’s funding and reporting functions.

This post appeared first on investingnews.com

Mayfair Gold (TSXV: MFG,NYSE American: MINE) is a development-stage company focused on advancing the Fenn-Gib gold project, a large, bulk-tonnage open-pit deposit situated in one of Canada’s most prolific gold districts. The company’s technical team is actively progressing provincial permitting, engaging in Indigenous consultation, advancing engineering, and conducting ongoing exploration to expand the deposit beyond its current pit boundaries.

The Preliminary Feasibility Study (PFS), prepared in accordance with NI 43-101 standards and filed in January 2026, outlines a base-case economic model with an after-tax NPV (5 percent) of C$652 million and an IRR of 24 percent, based on conservative gold prices, demonstrating rapid payback potential. Under a spot price scenario, project economics improve markedly, highlighting the asset’s strong leverage to higher gold prices. Once in operation, the project is expected to generate over $200 million in annual free cash flow, providing a robust source of capital to fund growth initiatives.

Mayfair Gold’s flagship Fenn-Gib gold project is located within the established Timmins Gold District in Ontario, which has produced more than 100 million ounces of gold historically.

Fenn-Gib is Mayfair’s flagship asset, encompassing a significant indicated mineral resource of 181.3 million tonnes grading 0.74 g/t gold for 4.3 million contained ounces, and additional inferred ounces. The project benefits from excellent access via Highway 101 and proximity to regional mining services.

Company Highlights

  • Robust Pre-feasibility Study: The 2026 PFS highlights compelling returns on a modest initial throughput design while leveraging a large resource base.
  • High-grade Early Focus: The staged plan targets higher-grade, near-surface material to optimize permitting timelines, construction risk, financing, and ultimately accelerate value capture.
  • Strategic Location: Fenn-Gib sits on the highly prospective Timmins Gold District, Ontario — a tier-one mining jurisdiction with established infrastructure and a long history of mining-related activity and supportive communities.
  • Strong Financial Backing: The company has a committed shareholder base, including Muddy Waters, Heeney Capital, Oaktree and Vestcor. With a tight share structure and strong Insider ownership of 35% there is clear alignment for long-term shareholder value creation.
  • Exploration Optionality: Mineralization at Fenn-Gib remains open at depth and along strike, with multiple underexplored targets identified across the property. This includes a Southern Block that has not been explored but sits directly on the prolific Porcupine-Destor fault.
  • Long-term optionality: With a truncated timeline to production the company will be in an advantageous spot for growth initiatives that can be funded with free cash flow.
  • CEO Nick Campbell, heads a technically strong and capital-markets-savvy team with a demonstrated ability to unlock value from high-quality gold assets (previously at Artemis Gold and Silvercrest Metals) and position projects for long-term growth.
  • COO Drew Anwyll is an experienced mine builder; he successfully permitted the Marathon PGM project in Ontario and was a senior executive during the construction, commissioning and start-up of Detour Lake, Canada’s largest gold mine.

This Mayfair Gold profile is part of a paid investor education campaign.*

Click here to connect with Mayfair Gold (TSXV:MFG) to receive an Investor Presentation

This post appeared first on investingnews.com

President Donald Trump on Wednesday nominated federal prosecutor Colin McDonald to serve in the newly formed role of assistant attorney general for national fraud enforcement.

McDonald is currently serving as an associate deputy attorney general at the Department of Justice.

‘I am pleased to nominate Colin McDonald to serve as the first ever Assistant Attorney General for National FRAUD Enforcement, a new Division at the Department of Justice, which I created to catch and stop FRAUDSTERS that have been STEALING from the American People,’ Trump wrote on Truth Social.

‘My Administration has uncovered Fraud schemes in States like Minnesota and California, where these thieves have stolen Hundreds of Billions of Taxpayer Dollars,’ he continued.

Trump praised McDonald as a ‘very smart, tough and highly respected America First federal prosecutor who has successfully delivered justice in some of the most difficult and high-stakes cases our country has ever seen.’

‘Together, we will END THE FRAUD, and RESTORE INTEGRITY to our Federal Programs. Congratulations Colin — STOP THE SCAMS!’ the president wrote.

McDonald has been serving in the office of Deputy Attorney General Todd Blanche, who said McDonald was ‘instrumental’ in the federal government’s efforts to curb crime across the country.

‘Colin is a rockstar, who was instrumental in our team’s mission of Making America Safe Again,’ Blanche wrote on X. ‘He is a consummate prosecutor who loves God, family, and country and will serve the President and the American people well.’

Vice President JD Vance announced the new role and the creation of the National Fraud Enforcement Division at the Department of Justice during a White House press briefing earlier this month, as the administration seeks to pursue a crackdown on alleged systemic fraud in federal programs, including in Minnesota and California.

‘Colin McDonald is widely regarded as a thorough and highly competent attorney. He has an exceptional prosecutorial track record, which we look forward to seeing him put to use in his new role as Assistant Attorney General,’ Vance said at the time ahead of McDonald’s formal nomination.

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Democratic Sen. Tammy Duckworth of Illinois fired back at Vice President JD Vance after he likened her sparring session with Secretary of State Marco Rubio during a Senate Foreign Relations Committee hearing about America’s Venezuela policy to an argument between the fictional character Forrest Gump and Isaac Newton.

‘Watching Tammy Duckworth obsessively interrupt Marco Rubio during this hearing is like watching Forest Gump argue with Isaac Newton,’ Vance quipped in a Wednesday post on X.

Duckworth responded, ‘Forrest Gump ran toward danger in Vietnam. Your boss ran to his podiatrist crying bone spurs. Petty insults at the expense of people with disabilities won’t change the fact that you’re risking troops’ lives to boost Chevron’s stock price. It’s my job to hold you accountable.’

Other Democrats also responded to Vance.

Democratic Rep. Shri Thanedar of Michigan shared Vance’s post and wrote, ‘Imagine watching Forrest Gump and your takeaway is to mock people with disabilities.’

‘That’s a U.S. Senator doing her job. This is a random troll tweeting at her,’ Illinois Gov. JB Pritzker wrote in a post on X.

‘Comparing @SenDuckworth to Forrest Gump is classless and disgraceful. She’s a veteran who lost her legs fighting for this country. If you had any honor, you’d take this post down. But you work for Trump, so clearly you have none,’ Democratic Rep. John Garamendi of California declared in a post.

Duckworth served in the Illinois Army National Guard and was deployed to Iraq in 2004, according to a biography on her Senate website, which notes that ‘On November 12, 2004, her helicopter was hit by an RPG and she lost her legs and partial use of her right arm.’

She noted in 2022 social media posts that an RPG ‘tore through the cockpit of the helicopter I was co-piloting. The blast cost me my legs, partial use of my right arm and nearly my life,’ she noted.

Vance added in another post, ‘Thank God we have a Secretary of State who knows his facts AND has the patience of Job. Great job, @SecRubio.’ 

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The U.S. Capitol Police told Fox News Digital one person was arrested for disrupting Secretary of State Marco Rubio on Wednesday during his Senate Foreign Relations Committee hearing on Capitol Hill. 

The individual was escorted from the hearing room at the Dirksen Senate Office Building as Rubio was about to deliver his opening statement about U.S. policy towards Venezuela.  

‘All right, here we go … you know the drill, off to jail,’ Sen. Jim Risch, R-Idaho, said after a man in the audience got up and started yelling about a ‘war crime’ while holding a sign that said ‘Hands Off Venezuela.’ 

‘That’s a one-year ban from the committee. Anyone who is a persistent violator will be banned for three years. So, I don’t know whether the guy falls in that category, looks like it,’ added Risch, who is the chairman of the Senate Foreign Relations Committee. ‘I hope after three years he’ll find a more productive means of employment.’

‘Secretary Rubio, we have two hearings a week. You know, you seem to have a more robust following than most of our witnesses that come before us,’ Risch added. 

‘There’ll be a couple more. Thank you for stopping the clock, but I appreciate it,’ Rubio responded. 

The U.S. Capitol Police said the individual was arrested for demonstrating in a committee.  

‘It is against the law to protest inside the congressional buildings,’ the U.S. Capitol Police told Fox News Digital.

Prior to the outburst, Risch thanked the audience for their attendance but also warned, ‘This is a public hearing. It is also the official business of the United States of America. And as a result of that, the committee has a zero-tolerance policy for interruptions or for attempts by anyone in the room to communicate with somebody up here or the witness.

‘So, as a result of that, if you do disrupt, you will be arrested. You’ll be banned for a year,’ he continued. ‘However, I’m told that we have some guests today who have completed their ban and are back with us again today. We hope you’ve had the time to think about your indiscretions and will behave yourself today. If you don’t, as a persistent violator, you’ll be banned for three years this time.’ 

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Shipping in the Persian Gulf dipped sharply Wednesday as tensions with Iran intensified amid signs the U.S. was positioning military forces for a potential strike, according to maritime intelligence assessments.

The U.S. Navy’s USS Abraham Lincoln Carrier Strike Group entered the U.S. Central Command area of responsibility Monday, a U.S. official confirmed to Fox News Digital, as President Donald Trump continued to keep military options on the table.

‘At this stage, it remains ambiguous, and probably intentionally ambiguous, what the objectives and desired outcomes are of any U.S. military action,’ Ambrey Intelligence’s Robert Peters told Fox News Digital.

‘This means that there are a wider range of possibilities and retaliatory scenarios under consideration.

‘That said, there are five U.S.-flagged merchant vessels, tankers and cargo ships in the Gulf today — two transited the Strait of Hormuz earlier without any apparent issues — but those already in the Gulf and destined for the U.S. are at heightened risk,’ he added.

Trump, who earlier this week indicated ‘numerous’ calls were received from Iran, also posted about the situation on Truth Social Wednesday morning.

‘A massive Armada is heading to Iran. It is moving quickly, with great power, enthusiasm, and purpose. It is a larger fleet, headed by the great Aircraft Carrier Abraham Lincoln, than that sent to Venezuela,’ he wrote.

‘Like with Venezuela, it is ready, willing, and able to rapidly fulfill its mission, with speed and violence, if necessary. Hopefully Iran will quickly ‘Come to the Table’ and negotiate a fair and equitable deal — NO NUCLEAR WEAPONS — one that is good for all parties. Time is running out, it is truly of the essence! As I told Iran once before, MAKE A DEAL!’

The post came as the Human Rights Activists News Agency (HRANA) reported the death toll from nationwide protests in Iran has surpassed 6,200 since the outset Dec. 28. 

The organization said nearly 17,100 more were under investigation with ‘a continuation of both scattered and mass arrests’ as internet restrictions continue.

Peters meanwhile, claimed that ‘shipping companies have been advised to reduce aggregate risk when operating in the Arabian/Persian Gulf.

‘This means limiting the number of ships that could be exposed to retaliatory action, and sometimes ships will await further instructions closer to their next port in the Gulf,’ he said. ‘At this point, it is more appropriate to wait further away in case of an escalation.’

Ali Shamkhani, an advisor to Iran’s Supreme Leader Ali Khamenei, warned Wednesday that any military action by the U.S. from any origin and at any level ‘will be regarded as the start of a war, and the response will be immediate, all-out, and unprecedented, targeting the heart of Tel Aviv and all those who support the aggressor,’ according to Iran International.

‘Our brave Armed Forces are prepared — with their fingers on the trigger — to immediately and powerfully respond to ANY aggression against our beloved land, air, and sea,’ Iran’s Foreign Minister Abbas Araghchi said in a post on X.

With tensions rising in the region, Peters described how shipowners may be approached by cargo charterers to load cargo in the Gulf.

‘Then they will make the decision to avoid the Gulf for the time being until the tensions reduce,’ Peters added. ‘Interestingly, last year the Iranians did not take retaliatory action in the maritime sphere. Israeli shipping was already avoiding the Gulf, and the U.S. military action was highly targeted at the nuclear capabilities.’

But Peters warned that the situation ‘may see something similar again. If there is a much broader, regime-destabilizing operation, the effects could be considerable for wider shipping.

‘During periods like this, we tend to see greater risk aversion and inquiries from those asked to pick up cargo for U.S. charterers and destined for the U.S.,’ he added.

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A former staffer for Sen. Rick Scott, R-Fla., is launching his own congressional bid on Thursday, Fox News Digital has learned.

Republican Austin Rogers is formally jumping into the race for Florida’s 2nd Congressional District, a solidly Republican seat encompassing part of the Sunshine State’s panhandle. It’s currently being represented by Rep. Neal Dunn, R-Fla., who is retiring at the end of this year.

Rogers invoked both President Donald Trump and Scott in a statement announcing his candidacy in a testament to the district’s conservative lean.

‘As President Trump and Senator Scott have shown, strong leadership matters,’ Rogers said. ‘I was raised right here in the 2nd District, fishing these bays, hunting these woods, and competing on these fields. I was taught to love this country, respect hard work, and stand up for what’s right. I’ve seen firsthand how broken Washington is. Our nation needs more fighters who will fearlessly root out waste, fraud, and abuse in government.’

Rogers previously worked as general counsel for Scott’s Senate office, which he argued helped him learn ‘how Congress actually works.’

‘I have drafted legislation, conducted congressional hearings, and led investigations holding the left accountable,’ Rogers said.

Scott’s campaign team told Fox News Digital that he has no current plans to make an endorsement in the race, however.

Rogers’ statement notably did not mention Florida Gov. Ron DeSantis, another central Republican figure in the Sunshine State, despite the district including the capital city of Tallahassee.

Rogers, a father of two with a third child on the way, was born and raised in his district and moved back there with his wife after a brief stint in Washington, D.C.

Meanwhile, a crowded field is forming to replace Dunn, a surgeon and retired Army major who first won his seat in 2016. 

Three Republicans and three Democrats have already filed to run for the district, with Rogers becoming the fourth GOP hopeful in the race.

Among the GOP candidates in the race is Evan Power, Florida’s Republican Party state chairman, and Keith Gross, a businessman who previously mounted a long-shot bid against Scott in 2024.

Dunn is part of a record number of House lawmakers announcing their departures from the lower chamber in the 119th Congress. Twenty-eight Republicans and 21 Democrats have announced retirements between this year and last year, more than during any other congressional term.

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Graphite stocks and prices have experienced volatility in recent years recently due to bottlenecks in demand for electric vehicles, as graphite is used to create lithium-ion battery anode materials.

One major factor experts are watching is the trade war between China and the US.

China introduced export restrictions on certain graphite products on December 1, 2023, making it a requirement for Chinese exporters to apply for special permits to ship the material to global markets. In July 2025, the Trump administration in the US announced it would raise tariffs on battery-grade graphite imports from China to 93.5 percent.

Another trend that shaped the graphite market in 2025 was the increasing substitution of natural graphite with synthetic graphite in battery anode production; this comes in response to Chinese exports restrictions and US tariffs on natural graphite.

This led to much lower prices for natural graphite, and against that backdrop, many Canadian graphite stocks trended down. However, several graphite-focused companies have seen strong performances in the past year.

Below is a look at the year’s best-performing graphite stocks on the TSX, TSXV and CSE. Data was obtained on January 21, 2026, using TradingView’s stock screener, and all companies listed had market caps above C$10 million at that time. Read on to learn more about the operations and news of the top Canadian graphite companies.

1. Titan Mining (TSX:TI)

Year-to-date gain: 1,512.12 percent
Market cap: C$549.85 million
Share price: C$6.64

Titan Mining is a critical mineral mining and development company with zinc and graphite assets in New York, US. The company currently produces zinc concentrate and aims to become an end-to-end producer of natural flake graphite.

Its Empire State Mines (ESM) zinc operations include the ESM 4 mine, which restarted production in January 2018, along with six past-producing mines capable of supplying additional feedstock for its onsite mill.

In addition to zinc, the property also hosts the Kilbourne graphite deposit located 4,000 feet from the existing mill at its Empire Mines operation. A December 2024 maiden resource estimate demonstrates an open-pit inferred resource of 653,000 short tons of contained graphite from 22.42 million short tons of ore with an average grade of 2.91 percent graphitic carbon.

Throughout 2025, Titan focused on advancing its flake graphite demonstration processing facility at Kilbourne, with an initial capacity of 1,000 to 1,200 metric tons of graphite concentrate annually. This early production would be used for product qualification sales to defense companies and industrial companies in early 2026.

Construction of the demonstration plant began in May, and development continued throughout Q3 and Q4.

Titan announced in its Q3 results on November 5 that commissioning had begun and the facility was expected to produce its first graphite concentrate during Q4. Additionally, mining of the Kilbourne demonstration pit began in Q3, and the company had stockpiled 8,000 short tons of ore, with 500 short tons crushed for initial plant feed.

On December 11, the company announced that graphite processing had begun at the facility.

Titan released the preliminary economic assessment for the full Kilbourne project at the start of December. The operation is planned with a 13 year mine life and average graphite production of 37,438 metric tons per year. The study reports an after-tax net present value of US$513 million, an internal rate of return of 37 percent and a payback period of 2.69 years.

Then, on December 23, Titan said it had closed on a US$5.5 million financing package with the Export-Import Bank of the United States, which would be used to support accelerated resource drilling, metallurgical test work and engineering programs necessary for the completion of a 2026 feasibility study.

Shares in Titan Mining reached a high of C$7.09 on January 21.

2. HydroGraph Clean Power (CSE:HG)

Year-to-date gain: 1,336.73 percent
Market cap: C$1.11 billion
Share price: C$3.52

HydroGraph Clean Power produces cost-effective, high-purity graphene, hydrogen and other strategic nanomaterials.

Graphene, a pure carbon material extracted from graphite, has myriad potential applications in industries such as transport, solar cells, medicine, electronics, energy, defense and desalination.

HydroGraph has an exclusive license from Kansas State University to produce graphene and hydrogen via the organization’s patented detonation process. While lower-purity graphene is typically produced using natural graphite, HydroGraph’s patented process produces 99.8 percent pure carbon content graphene using acetylene and oxygen.

Much of HydroGraph’s news flow in 2025 centered on strategic partnerships.

Results from a research study conducted with Arizona State University demonstrated that the company’s HydroGraph’s Fractal Graphene is well suited for ultra-high-performance concretes and 3D-printed structures.

In February, HydroGraph announced a technical collaboration with an unnamed global leader in synthetic fiber manufacturing to assess the potential of its graphene technology in high-performance fiber applications.

The following month, HydroGraph shared the launch of a line of advanced graphene dispersions developed in collaboration with battery materials and testing services company NEI. The products have the potential to be used to produce high-performance electrodes for use in energy storage solutions.

The company signed a letter of intent in April that could lead to a North American industrial gas supplier providing it with access to large volumes of high-purity acetylene, an essential feedstock will help the firm advance its plans to build a new graphene production facility in Texas with the capacity to produce over 350 metric tons of graphene annually.

HydroGraph launched its Compounding Partner Program in July with the goal of attaining commercial-scale production of its high-performance Fractal Graphene in thermoplastics. In August, the company announced a partnership with Hawkey Bio to supply graphene for use in its Lung Enzyme Activity Profile early lung cancer detection test.

Then, in September, HydroGraph signed a letter of intent with SEADAR Technologies to provide it with graphene material to coat current and future undersea products.

As for 2026, the company announced on January 6 that it had moved from a tier 2 to tier 1 member with the Graphene Engineering Innovation Centre at the University of Manchester. The move will establish a HydroGraph lab in the center and increase access to its facilities.

HydroGraph reached a high of C$4.07 on October 31.

3. Focus Graphite Advanced Materials (TSXV:FMS)

Year-to-date gain: 394.12 percent
Market cap: C$45.47 million
Share price: C$0.42

Focus Graphite Advanced Materials is both a graphite miner and a battery technology company. Its wholly owned flagship Lac Knife high-grade crystalline flake graphite project is located in Northeastern Québec, Canada.

With a completed feasibility study, Lac Knife is one of North America’s most advanced graphite deposits. The company also holds Lac Tétépisca, the highest-purity graphite project in Québec.

In terms of battery technologies, Focus Graphite has a patent-pending proprietary silicone-enhanced spheroidized graphite technology that is designed to enhance battery performance and efficiency.

Throughout 2025, the company has reached several use-case milestones for graphite sourced from Lac Knife.

In mid-June, thermal purification testing on Lac Knife flake graphite resulted in refined concentrate to a purity level of 99.999 percent carbon, which Focus Graphite said “underscores (the company’s) potential to supply ultra-high-purity graphite material for nuclear energy applications, a market historically dominated by synthetic graphite.”

Graphite from the site was further validated in August, when it was used as part of nozzle components aboard Pluto Aerospace’s successful Dash 1 rocket Flight 003. The test was done to evaluate hypersonic performance and thermal resistance. The nozzle temperature exceeded 3,000 degrees Celsius.

The company said the collected data would be used to validate the performance characteristics of the graphite in high-stress environments for use in defense systems.

Then, on October 22, Focus reported that the anode material passed phase 1 battery validation conducted by Charge CCCV and American Energy Technologies Company. The independent lab tests confirmed near-theoretical electrochemical capacity around 371 milliampere-hours per gram, as well as strong suitability for lithium-ion batteries.

Shares of Focus Graphite reached a high of C$0.66 on November 3.

4. First Canadian Graphite (TSXV:FCI)

Year-to-date gain: 340 percent
Market cap: C$10.39 million
Share price: C$0.33

Formerly known as Green Battery Minerals, First Canadian Graphite is an exploration company advancing its Berkwood graphite project in Central Québec. The property sits adjacent to Nouveau Monde Graphite’s NPV Uatnam graphite project.

A June 2019 mineral resource estimate (MRE) demonstrated an indicated resource of 299,200 metric tons of graphitic carbon from 1.76 million metric tons of ore with a grade of 17 percent graphitic carbon, and an inferred resource of 250,200 metric tons graphitic carbon from 1.53 million metric tons of ore with an average grade of 16.4 percent.

In April 2025, the company announced its name change to First Canadian Graphite from Green Battery Minerals.

Much of First Canadian’s focus in 2025 was on its corporate governance and financing. On August 26, the company appointed Florent Baril to its board of directors. Baril has more than 40 years of experience in project engineering and resource development and was also the co-author for the Berkwood project’s MRE.

Then, on November 18, the company announced its intention to open a hard dollar financing round for up to 1.5 million units to raise gross proceeds of up to C$225,000 for general working capital. It also stated that it would offer an additional 1.5 million flow-through shares to raise C$300,000, to be directed to exploration expenses at Berkwood.

In a follow-up on December 12, First Canadian said it was applying to the TSX for approval to increase the hard dollar financing to a total of C$740,000, consisting of 4.93 million shares.

The most recent news came on January 12, when First Canadian reported that it had initiated airborne electromagnetic (EM) and magnetic surveys over Berkwood, covering five high-priority targets, to assess the probability and scope of hosted graphite occurrences.

The release also said that the company staked an additional 125 claims, bringing the total to 315 claims covering 16,542 hectares. First Canadian noted it was reviewing the claims and may add additional EM flyovers of the new property area.

First Canadian reached a high of C$0.43 on January 12.

5. Northern Graphite (TSXV:NGC)

Weekly gain: 58.82 percent
Market cap: C$17.04 million
Share price: C$0.135

Northern Graphite is a flake graphite developer and producer. In Ontario, Canada, it owns the producing Lac des Iles mine and the construction-ready Bissett Creek project, and in Namibia, it owns the past-producing Okanjande graphite mine.

According to a February 2024 technical report, the company’s flagship Lac des Iles mine hosts an indicated resource of 213,000 metric tons of graphitic carbon, with an additional inferred resource of 106,000 metric tons.

According to the company’s 2024 results released on May 1, the mine produced 11,697 metric tons of graphite concentrate in 2024. Northern Graphite noted that the mine was closed for maintenance and repair between November and mid-January.

However, in its Q1 report released on May 30, the company said it expected the existing pit at Lac-De-Iles to be exhausted by the fall of 2025 and was seeking support from various levels of government for the funding needed to extend the mine life by an additional 8 years.

On August 26, that support came in the form of up to C$6.23 million from Natural Resources Canada. At the time, Northern Graphite said it would begin work to extend the pit as soon as it could to avoid putting the mine on care and maintenance.

However, due to a bearing failure at the mill, the company chose to place the mine and mill on temporary care and maintenance on November 20 to begin repairs and to prepare for pit extension in 2026.

“Rather than stopping the plant now and again in January, we decided to start the maintenance program immediately in order to avoid having two separate shutdowns,” Northern CEO Hugues Jacquemin said.

The company is also advancing several battery anode material facilities projects’ the Baie-Comeau facility in Québec, the Yanbu facility in Saudi Arabia and a processing facility in Northern France.

In mid-April, the company announced a partnership with infrastructure and business development company BMI Group to evaluate the feasibility of developing its Canadian battery anode material facility in a former paper mill in Baie-Comeau that BMI is developing as a hub. This was quickly followed by a letter of support from the Port of Rotterdam on April 23.

On November 3, Northern announced that its consortium with Rain Carbon Canada had received a research and development grant of up to C$860,00 under the Canada-Germany Collaborative Industrial Research Program. The project will focus on transforming low-value natural graphite fine fractions into high-performance, battery-grade anode material.

Most recently, on January 14 of this year, the company signed a term sheet with Obeikan Investment Group to create a joint venture to develop and operate the US$200 million Yanbu battery anode facility in Saudi Arabia. Once complete, the facility will have a production capacity of 25,000 metric tons of battery anode material per year. Obeikan Investment Group will have a 51 percent ownership stake, with Northern Graphite holding the remaining 49 percent.

Shares in Northern Graphite reached a high of C$0.355 on January 14.

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

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

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Sankamap Metals Inc. (CSE: SCU) (‘Sankamap’ or the ‘Company’) the Company and its auditor continue to work diligently toward the completion and filing of the Company’s annual audited financial statements and management’s discussion and analysis for the fiscal year ended June 30, 2025 (the ‘Required Filings’). The Company has obtained approval from the Alberta Securities Commission to extend the Management Cease Trade Order (‘MCTO’) under National Policy 12-203 Management Cease Trade Orders (‘NP 12-203’) until January 31, 2026. Sankamap confirms that substantially all audit work has been completed, with only one minor confirmation and customary completion procedures remaining. The Company is actively working to provide the outstanding items and is in contact with the relevant party. Subject to completion of these matters, the audit is expected to be finalized shortly.

The Required Filings were due to be filed by October 28, 2025. In connection with the anticipated delays in making the Required Filings, the Company made an application for a MCTO under NP 12-203 to the Alberta Securities Commission, as principal regulator for the Company, and the MCTO was issued on October 29, 2025. The MCTO restricts all trading by the Company’s CEO and CFO in securities of the Company, whether direct or indirect. The MCTO does not affect the ability of persons who are not directors, officers or insiders of the Company to trade their securities. The MCTO will remain in effect until the Required Filings are filed or until it is revoked or varied.

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

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

For further information with respect to the MCTO, please refer to the Company’s news releases dated October 21, 2025, November 4, 2025, November 18, 2025, December 3, 2025, December 17, 2025, December 30, 2025, and January 13, 2026, available for viewing on the Company’s SEDAR+ profile at www.sedarplus.ca.

About Sankamap Metals Inc.

Sankamap Metals Inc. (CSE: SCU) is a Canadian mineral exploration company dedicated to the discovery and development of high-grade copper and gold deposits through its flagship Oceania Project, located in the South Pacific. The Company’s fully permitted assets are strategically positioned in the Solomon Islands, along a prolific geological trend that hosts major copper-gold deposits; including Newcrest’s Lihir Mine, with a resource of 71.9 million ounces of gold¹ (310 Mt containing 23 Moz Au at 2.3 g/t P+P, 520 Mt containing 39 Moz Au at 2.3 g/t indicated, 81 Mt containing 5 Moz Au at 1.9 g/t measured, 61 Mt containing 4.9 Moz Au at 2.3 g/t Inferred).

Exploration is actively advancing at both the Kuma and Fauro properties, part of Sankamap’s Oceania Project in the Solomon Islands. Historical work has already highlighted the mineral potential of both sites, which lie along a highly prospective copper and gold-bearing trend, suggesting the possibility of further, yet-to-be-discovered deposits.

At Kuma, the property is believed to host an underexplored and largely untested porphyry copper-gold (Cu-Au) system. Historical rock chip sampling has returned consistently elevated gold values above 0.5 g/t Au, including a standout sample assaying 11.7% Cu and 13.5 g/t Au2; underscoring the area’s significant potential.

At Fauro, particularly at the Meriguna Target, historical trenching has returned highly encouraging results, including 8.0 meters at 27.95 g/t Au and 14.0 meters at 8.94 g/t Au3. Complementing these results are exceptional grab sample assays, including historical values of up to 173 g/t Au3, along with recent sampling by Sankamap at the Kiovakase Target, which returned numerous high-grade copper values, reaching up to 4.09% Cu. In addition, limited historical shallow drilling intersected 35.0 meters at 2.08 g/t Au3, further underscoring the property’s strong mineral potential and the merit for continued exploration. With a commitment to systematic exploration and a team of experienced professionals, Sankamap aims to unlock the untapped potential of underexplored regions and create substantial value for its shareholders. For more information, please refer to SEDAR+ (www.sedarplus.ca), under Sankamap’s profile.

1.Newcrest Technical Report, 2020 (Lihir: 310 Mt containing 23 Moz Au at 2.3 g/t P+P, 520 Mt containing 39 Moz Au at 2.3 g/t indicated, 81 Mt containing 5 Moz Au at 1.9 g/t measured, 61 Mt containing 4.9 Moz Au at 2.3 g/t Inferred)

2. Historical grab, soil and BLEG samples from SolGold Kuma Review June 2015, and SolGold plc Annual Report 2013/2012

3. September 2010-June 2012 press releases from Solomon Gold Ltd. and SolGold Fauro Island Summary Technical Info 2012

QP Disclosure

The technical content for the Oceania Project in this news release has been reviewed and approved by John Florek, M.Sc., P.Geol., a Qualified Person in accordance with CIM guidelines. Mr. John Florek is in good standing with the Professional Geoscientists of Ontario (Member ID:1228) and a director and officer of the Company.

ON BEHALF OF THE BOARD OF DIRECTORS

s/ ‘John Florek’
John Florek, M.Sc., P.Geol
Chief Executive Officer
Sankamap Metals Inc.

Contact:
John Florek, CEO
T: (807) 228-3531
E: johnf@sankamap.com

The Canadian Securities Exchange has not approved nor disapproved this press release.

Forward-Looking Statements

Certain statements made and information contained herein may constitute ‘forward-looking information’ and ‘forward-looking statements’ within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to Sankamap and there is no assurance that the actual results will meet management’s expectations. Forward-looking statements and information may be identified by such terms as ‘anticipates,’ ‘believes,’ ‘targets,’ ‘estimates,’ ‘plans,’ ‘expects,’ ‘may,’ ‘will,’ ‘could’ or ‘would.’

This press release contains forward-looking statements, including, but not limited to, statements regarding management’s expectations about obtaining the MCTO and completing the Required Filings within the anticipated timeline. Forward-looking statements are subject to various risks, uncertainties, and other factors that could cause actual results or events to differ materially from those expressed or implied by such statements. Sankamap does not undertake any obligation to update forward-looking statements or information, except as required by applicable securities laws. For more information on the Company, investors should review the Company’s continuous disclosure filings that are available at www.sedarplus.ca.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/281882

News Provided by TMX Newsfile via QuoteMedia

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Hecla Mining Company (NYSE:HL) has agreed to sell its Casa Berardi gold operation in Québec to Orezone Gold (TSX:ORE,OTCQX:ORZCF) for total consideration of up to US$593 million.

The deal, announced on Monday (January 26), involves the sale of Hecla Québec, a wholly owned subsidiary of Hecla that holds the Casa Berardi mine and related exploration properties.

Under the terms of the agreement, Hecla expects to receive up to US$593 million through a mix of upfront cash, equity, deferred payments and contingent consideration.

Hecla will receive US$160 million in cash at closing, along with about 65.7 million Orezone common shares, representing about 9.9 percent of Orezone’s pro forma shares outstanding, currently valued at roughly US$112 million.

In addition, Hecla is set to receive US$80 million in deferred cash payments, split into US$30 million payable 18 months after closing and US$50 million payable after 30 months.

The remaining consideration is contingent and could total up to US$241 million.

It includes up to US$211 million in production-based royalty payments tied to future open-pit output, calculated at US$80 per ounce for the first 500,000 ounces of gold and US$180 per ounce thereafter.

Hecla may also receive a US$20 million payment upon the granting of certain permits, as well as up to US$10 million linked to a gold price exceeding US$4,200 per ounce.

The transaction is supported by Franco-Nevada (TSX:FNV,NYSE:FNV), which Orezone said is a sponsor in the acquisition.

“The sale of Hecla Quebec represents an important milestone in Hecla’s transformation as we concentrate capital allocation and operational focus on our world-class silver portfolio,” said Rob Krcmarov, president and CEO of Hecla.

For Orezone, the acquisition marks a major expansion into Canada and adds a producing gold mine to its portfolio. The company said Casa Berardi will complement its Bomboré project in Burkina Faso and will provide diversification in a jurisdiction known for stable mining regulations and established infrastructure.

“This Transaction marks a significant inflection point for Orezone as it adds a proven, cash-flow-generating asset to our portfolio, and provides asset diversification in a Tier 1 Jurisdiction,” said Patrick Downey, president and CEO of Orezone.

Casa Berardi is an underground and open-pit mine located in Québec’s Abitibi region that has been in operation since the late 1980s. It has produced over 3.2 million ounces of gold to date.

As of the end of 2024, its proven and probable reserves stood at 1.3 million ounces, with additional measured, indicated and inferred resources supporting future operations.

Casa Berardi’s gold production guidance for 2026 is between 83,000 and 91,000 ounces.

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

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