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Strategic financing deepens alignment with industry leader as Quimbaya advances drill-ready Colombian gold portfolio
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Trigg Minerals
Investor Insight
Trigg Minerals is well-positioned to become a globally significant supplier of antimony, a critical mineral essential to the defense, clean energy and semiconductor sectors. Backed by a strategic focus, a supportive jurisdiction, and timing that aligns with macroeconomic urgency, Trigg is uniquely placed to deliver value from the ground up.
Overview
Trigg Minerals (ASX:TMG,OTCQB:TMGLF) is an emerging leader in the global critical minerals space, focused exclusively on the development of antimony—a metal designated as essential by the United States, Australia and the European Union for its role in national defense, energy transition technologies, and advanced industrial applications. The company’s flagship asset, the Wild Cattle Creek deposit within the Achilles antimony project in New South Wales, is the highest-grade undeveloped antimony resource in Australia and one of the few large-scale, standalone antimony projects globally. As geopolitical and industrial dynamics shift, Trigg Minerals is uniquely positioned to provide a secure, sovereign source of antimony to Western markets, amid a continuing global supply crunch.
In 2024, China—responsible for 83 percent of global production—imposed a complete export ban on antimony products to the US, following earlier restrictions on powdered forms. Combined with sanctions on Russian producers and the depletion of strategic stockpiles across NATO and allied nations, these developments have triggered a severe global supply shortage. Spot prices have surged to over US$51,000 per tonne—more than double their 2023 average—underscoring the urgent need for alternative sources.
Antimony spans a wide range of applications. It is a critical component in flame retardants, semiconductors, night vision optics, military alloys, solar panel coatings, and battery technologies. Demand is accelerating, particularly in the defense and renewable energy sectors, with a projected CAGR of 6.1 percent. However, viable new supply is extremely limited outside of China and its allies, presenting a once-in-a-generation opportunity for companies like Trigg to fill the gap and anchor Western critical mineral supply chains.
Trigg’s growth strategy is built around three key points. First, the company is advancing a high-impact resource expansion program at Wild Cattle Creek, aiming to increase its current JORC-compliant resource of 1.52 million tons (Mt) @ 1.97 percent antimony for 29,902 tonnes contained metal to more than 100,000 tonnes—potentially making it one of the top three antimony deposits in the world. Second, Trigg is capitalizing on the structural shift in global supply chains. With a Tier-1 jurisdiction, ESG-aligned operations, and backing from government incentives, the company is ideally placed to serve downstream processors and strategic buyers, particularly in the U.S. and allied nations seeking to reduce reliance on Chinese-controlled supply. Third, Trigg is maintaining disciplined and focused execution. Over 90 percent of capital and operational resources are allocated to advancing Wild Cattle Creek, ensuring near-term value creation.
Company Highlights
- Trigg Minerals is an ASX-listed company entirely focused on antimony, a critical mineral vital for solar panels, flame retardants, semiconductors and military applications.
- The flagship Achilles project’s Wild Cattle Creek deposit hosts a high-grade JORC resource of 1.52 Mt @ 1.97 percent antimony for ~30,000 tonnes contained antimony—Australia’s highest-grade undeveloped antimony deposit.
- The company’s aggressive expansion plan includes a near-term drilling program targeting a threefold increase in contained antimony to over 100,000 tonnes, positioning Trigg among the top three antimony deposits globally.
- Trigg is attracting growing attention as a potential partner to support Western antimony supply chains amid rising demand and geopolitical tension.
- Operating in New South Wales—a Tier 1 jurisdiction—Trigg benefits from government incentives, including co-investment, exploration support and deferred royalty schemes.
- China controls 83 percent of global antimony production and recently banned exports to the US, creating a strategic opening for Western suppliers like Trigg.
Key Project
Achilles Antimony Project – Wild Cattle Creek Deposit
Trigg Minerals’ flagship asset is the Wild Cattle Creek (WCC) deposit, located within its Achilles antimony project in northern New South Wales. Hosting a JORC 2012-compliant mineral resource of 1.52 Mt @ 1.97 percent antimony for 29,902 tonnes of contained metal, WCC is Australia’s highest-grade undeveloped antimony resource and among the most significant globally. The deposit lies along the Bielsdown Fault, a 6 km underexplored mineralised corridor within the New England Orogen—a prolific metallogenic belt.
Geologically, the deposit is hosted in a steeply dipping, silicified breccia lode bounded by metasedimentary rocks. The high-grade core (>2 percent antimony) extends 350 metres down plunge, is exposed at surface, and maintains an average true width of ~20 metres—ideal for future underground bulk mining. The current mineral resource estimate is conservative, focused on cemented breccia zones, but upcoming drilling will include the broader tungsten-antimony stockwork and disseminated stibnite-bearing mineralisation, potentially widening the mining envelope to more than 15 metres. The system is also enriched in tungsten, mercury and gold, with 30 regional gas and geochemical targets identified. Historic hits such as 1.3 m @ 11.8 percent antimony at the Jezebel prospect underscore the broader potential.
Trigg’s near-term strategy is simple and high-impact: secure land access, initiate an aggressive drilling program, and grow the antimony resource to more than 100,000 tonnes. Drilling contracts are in place, target zones have been defined, and land access negotiations are nearing completion, with execution anticipated in mid-2025. With China’s dominance being actively challenged by the West, Trigg offers timely, scalable exposure to a critical mineral that is scarce in nature and increasingly strategic.
Other Projects
Taylors Arm Antimony Project
Taylors Arm is a high-grade antimony district with more than 80 historic workings across seven known mining camps. Samples have returned grades of more than 50 percent antimony, including 63 percent at the Testers Mine—the highest antimony assay on record in Australia. The project also hosts silver grades more than 840 grams per ton (g/t0 and gold up to 24 g/t, indicating a polymetallic system with strong exploration upside. Trigg is conducting early-stage work to refine targets for follow-up drilling.
Spartan Antimony Project
Located adjacent to the Hillgrove antimony-gold operation (Australia’s largest known antimony deposit), Spartan is strategically situated along the Hillgrove Fault and shares geological characteristics with the adjoining high-grade system. Early exploration has confirmed structural continuity and polymetallic potential, particularly for stibnite-gold veining. Spartan complements Trigg’s core project with near-mine growth opportunities.
New Project Areas – Nundle, Upper Hunter, Cobark/Copeland
Trigg recently secured new exploration tenements across the Nundle, Upper Hunter, and Cobark/Copeland regions, all highly prospective for gold-antimony mineralisation. These projects, located within structurally complex terrains analogous to Achilles, will be progressively advanced as part of Trigg’s long-term project pipeline strategy.
Management Team
Timothy Morrison – Executive Chairman
Tim Morrison is a highly experienced executive in the Australian resource and capital markets sector. With a background in law and investment banking, Morrison has held senior roles in both private and public resource companies, including those focused on critical minerals, base metals, and energy. His leadership at Trigg is defined by a clear strategic focus: unlock value from the Wild Cattle Creek deposit and position the company as a cornerstone in the global antimony supply chain. Morrison brings extensive experience in stakeholder engagement, project financing, and government relations, having previously led funding rounds, IPOs, and major project negotiations across multiple jurisdictions. His vision for Trigg is underpinned by a disciplined growth strategy and sovereign supply positioning.
Jonathan King – Technical Director
Jonathan King is a seasoned geologist with over 20 years of experience in mineral exploration and resource development. He has worked across a broad range of commodities including antimony, gold, copper, and rare earths, and has been instrumental in leading exploration teams across Australia, Southeast Asia and Africa. At Trigg, King is responsible for designing and executing the company’s exploration programs, including the upcoming high-impact drill campaign at Wild Cattle Creek. His technical leadership ensures that resource expansion is driven by rigorous geoscientific methodology, with a focus on unlocking district-scale potential across the broader Achilles project area.
Andre Booyzen – Non-executive Director
Andre Booyzen is an experienced mine operator and leader and has 25+ years of experience in operational, senior and executive roles, and is a specialist in antimony mining. He brings extensive experience in mine development, operational strategy, and off-take agreements. Booyzen previously served vice-president of Mandalay Resources (TSX:MND, OTCQB:MNDJF), where he had full strategic and operational control including product sales, off takes and funding negotiations at the Costerfield gold-antimony mine in Victoria, currently Australia’s only producer of antimony concentrate. Booyzen also served on the board of the Minerals Council of Australia (Victoria) for more than five years and was chairman for three of those.
Bishoy Habib – Non-executive Director
Bishoy Habib holds a Bachelor’s in Applied Science (Software Eng) and has been a global investor for more than a decade, with a particular focus in the resources sector. He is a qualified and experienced leader, with over 15 years’ project delivery and management experience in large multinational organisations. Habib has a strong understanding of the resources sector, with access to a wide-reaching network and project delivery expertise across Africa, the Middle East, Europe and South America.
Nicholas Katris – Non-executive Director and Company Secretary
Nicholas Katris has over 15 years of experience in corporate advisory and public company management, having begun his career as a chartered accountant. He has been actively involved in the financial management of public companies within the mineral and resources sector, holding roles on both the board and executive management teams. His expertise spans the advancement and development of mineral resource assets, as well as business development. Throughout his career, Katris has worked across Australia, Africa, Brazil and Canada, gaining extensive experience in financial reporting, capital raising, and treasury management for resource companies. He currently serves as company secretary for Leeuwin Metals (ASX:LM1) and Perpetual Resources (ASX:PEC).
Advanced-stage exploration company developing one of the world’s highest-grade undeveloped antimony assets in New South Wales
Quimbaya Gold Announces Strategic Private Placement of up to $2,000,000 Led by Co-Founder of Gran Colombia Gold, Serafino Iacono
Quimbaya Gold Inc. (CSE: QIM) (OTCQB: QIMGF) (FSE: K05) ("Quimbaya Gold" or the "Company") is pleased to announce that it intends to complete a non-brokered private placement of up to 5,714,286 units of the Company (each, a "Unit"), at a price of C$0.35 per Unit, to raise gross proceeds of up to approximately C$2,000,000 (the "Offering"), including a lead order of C$500,000 from Mr. Serafino Iacono, an influential figure in Colombian mining, Co-founder of Gran Colombia Gold Corp. (now Aris Mining Corporation) and Executive Chairman of Denarius Metals Corp.
Each Unit will be comprised of one common share in the capital of the Company (a "Share") and one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to acquire one Share at a price of C$0.60 per Share for a period of 36 months from the issuance date of the Offering. The remaining Units issued under the Offering will be limited to other strategic investors with deep experience in Latin American exploration and project development.
"Seeing our hard work over the past few years recognized by industry leaders like Serafino Iacono is a real validation of our strategy and our assets," said Alexandre P. Boivin, CEO of Quimbaya Gold. "With strong exploration results, a drill-ready portfolio, and the right people around the table, we're incredibly excited about what lies ahead, especially as we prepare to kick off drilling at Tahami South. This is a pivotal moment for Quimbaya, and we're just getting started."
Strategic Alignment and Validation
The participation of Mr. Iacono, who played a pivotal role in the revival of the Colombian gold sector, signals high conviction in Quimbaya's assets and leadership. His investment marks a strong endorsement of the Company's solid Portfolio and in particular its drill-ready Tahami Project in the Middle Cauca Belt, one of Colombia's most prolific gold districts.
"I believe Quimbaya is uniquely positioned at the intersection of geology, timing, and leadership. The team is aligned, the land is exceptional, and in this rising gold environment the moment is now," said Mr. Iacono. "I'm excited to support a company that understands what it takes to build a real gold story in Colombia."
The net proceeds raised from the sale of the Units will be used for general exploration expenses and for general working capital purposes. Completion of the Offering is subject to applicable regulatory approvals. All securities issued pursuant to the Offering will be subject to a four-month and one-day hold period in accordance with applicable securities laws. The Offering is expected to close on or about June 6th 2025.
The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities of the Company in the United States, nor shall there be any sale of such securities in any State in which such offer, solicitation or sale would be unlawful.
About Quimbaya
Quimbaya aims to discover gold resources through exploration and acquisition of mining properties in the prolific mining districts of Colombia. Managed by an experienced team in the mining sector, Quimbaya is focused on three projects in the regions of Segovia (Tahami Project), Puerto Berrio (Berrio Project), and Abejorral (Maitamac Project), all located in Antioquia Province, Colombia.
Contact Information
Alexandre P. Boivin, President and CEO apboivin@quimbayagold.com
Jason Frame, Manager of Communications jason.frame@quimbayagold.com +1-647-576-7135‎
Quimbaya Gold Inc.
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Cautionary Statements
Certain statements contained in this press release constitute "forward-looking information" as that term is defined in applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, but not always, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking statements herein include statements and information regarding the Offering, including its timing, intended closing date, intended use of proceeds and intended gross proceeds, any expected issuance of the Units or the Shares and Warrants which comprise them, a commitment by any person to purchase Units pursuant to the Offering, receipt by the Company of any applicable regulatory approval, the future plans for the Company, future expectations for the gold sector generally, the Colombian gold sector more particularly, or how global or local market trends may affect the Company, intended exploration on any of the Company's properties and any results thereof, the strength of the Company's mineral property portfolio, aims and goals of the Company, and other forward-looking information. Forward-looking information by its nature is based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Quimbaya to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These assumptions include, but are not limited to, that the Offering as described herein will close on terms materially similar to the terms described herein. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: future planned development and other activities on the Company's mineral properties; an inability to finance the Company; obtaining required permitting on the Company's mineral properties in a timely manner; any adverse changes to the planned operations of the Company's mineral properties; failure by the Company for any reason to undertake expected exploration programs; achieving and maintaining favourable relationships with local communities; mineral exploration results that are poorer or better than expected; prices for gold remaining as expected; currency exchange rates remaining as expected; availability of funds for the Company's projects; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; the Offering proceeds being received as anticipated; all requisite regulatory and stock exchange approvals for the Offering are obtained in a timely fashion; investor participation in the Offering; and the Company's ability to comply with environmental, health and safety laws. Although Quimbaya's management believes that the assumptions made and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. Readers are cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Quimbaya as of the date of this news release and, accordingly, is subject to change after such date. Except as required by law, Quimbaya does not expect to update forward-looking statements and information continually as conditions change.
Neither CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/253731
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IBN Initiates Coverage of Lahontan Gold Corp.
Via IBN Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) a Canadian mine development and exploration company, has selected IBN a multifaceted financial news and publishing company serving private and public entities, to spearhead its corporate communications efforts.
Lahontan is advancing a portfolio of gold and silver assets in Nevada's Walker Lane, one of the world's most productive and mining-friendly regions. Through its U.S. subsidiaries, the company controls four gold and silver properties in Nevada, three of which are 100%-owned and one controlled via a low-cost option to acquire full ownership. Lahontan is focused on unlocking oxide gold and silver value from past-producing, infrastructure-rich projects, with a clear near-term path to production.
The company's mission is to responsibly develop and expand its oxide resources while minimizing capital intensity and maximizing economic returns. Leveraging a strong technical team with a track record of advancing projects and building mines, Lahontan is focused on growing gold and silver resources and hitting permitting milestones across multiple sites. Its strategy prioritizes scalability, efficiency, and timely value realization for shareholders.
As part of the Client Partner relationship, IBN will leverage its investor-focused distribution network, which includes over 5,000 key syndication outlets , various newsletters , social media channels , and wire services via InvestorWire , along with blogs and other outreach tools, to generate greater awareness for Lahontan .
With over 19 years of experience assisting over 500 client partners and a sizable family of 70+ trusted brands , IBN has amassed a collective audience that includes millions of social media followers . This positions IBN to provide Lahontan the solutions needed to reach a wide audience of investors, journalists, and the general public.
To learn more about Lahontan, please visit the company's corporate newsroom at https://ibn.fm/LGCXF
About Lahontan Gold Corp.
Lahontan Gold Corp. is a Canadian mine development and mineral exploration company that holds, through its U.S. subsidiaries, four top-tier gold and silver exploration properties in the Walker Lane of mining-friendly Nevada. Lahontan's flagship property, the 26.4 km 2 Santa Fe Mine project, had past production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing*. The Santa Fe Mine has a Canadian National Instrument 43-101-compliant Indicated Mineral Resource of 1,539,000 oz Au Eq (grading 0.99 g/t Au Eq) and an Inferred Mineral Resource of 411,000 oz Au Eq (grading 0.76 g/t Au Eq), all pit constrained (Au Eq is inclusive of recovery; please see Santa Fe Project Technical Report*). The company plans to continue advancing the Santa Fe Mine project toward production, update the Santa Fe Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025.
For more information, visit the company's website at www.LahontanGoldCorp.com
* Please see the "Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project", Authors: Kenji Umeno, P. Eng., Thomas Dyer, PE, Kyle Murphy, PE, Trevor Rabb, P. Geo, Darcy Baker, PhD, P. Geo., and John M. Young, SME-RM; Effective Date: December 10, 2024, Report Date: January 24, 2025. The Technical Report is available on the company's website and SEDAR+.
About IBN
IBN consists of financial brands introduced to the investment public over the course of 19+ years. With IBN, we have amassed a collective audience of millions of social media followers. These distinctive investor brands aim to fulfill the unique needs of a growing base of client-partners. IBN will continue to expand our branded network of highly influential properties, leveraging the knowledge and energy of specialized teams of experts to serve our increasingly diversified list of clients.
Through our Dynamic Brand Portfolio (DBP) , IBN provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets ; (3) Press Release Enhancement to ensure maximum impact; (4) full-scale distribution to a growing social media audience; (5) a full array of corporate communications solutions ; and (6) total news coverage solutions.
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Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
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Results of the Company's Annual General Meeting 2025
Following the Annual General Meeting (" AGM ") held at 9:00am (Mountain Daylight Time) on Tuesday 27 May 2025, AngloGold Ashanti plc (the " Company " or " AngloGold Ashanti ") announces the results of the poll vote for each resolution set out in the notice of AGM published on 7 April 2025 (the " Notice of AGM "). The full text of the resolutions proposed at the AGM is included in the Notice of AGM.
All of the resolutions were passed as ordinary resolutions. A copy of the poll results for the AGM, along with the Notice of AGM, is available on the AngloGold Ashanti website at www.anglogoldashanti.com .
Resolution | Votes For 1 | % | Votes Against | % | Votes Withheld/ Abstentions 2 | Broker Non-Votes | |
1. | To receive the 2024 Annual Report and Accounts | 388,317,432 | 99.98 | 80,648 | 0.02 | 255,571 | 0 |
2. | To approve the Directors' Remuneration Report | 355,110,031 | 91.39 | 33,437,495 | 8.61 | 106,125 | 0 |
3. | To elect Mr. Bruce Cleaver as a director | 388,268,247 | 99.94 | 235,208 | 0.06 | 150,196 | 0 |
4. | To elect Ms. Nicky Newton-King as a director | 388,090,981 | 99.89 | 408,069 | 0.11 | 154,601 | 0 |
5. | To re-elect Dr. Kojo Busia as a director | 388,234,636 | 99.93 | 256,401 | 0.07 | 162,614 | 0 |
6. | To re-elect Mr. Alberto Calderon as a director | 388,427,842 | 99.98 | 77,945 | 0.02 | 147,864 | 0 |
7. | To re-elect Ms. Gillian Doran as a director | 358,833,245 | 92.36 | 29,676,623 | 7.64 | 143,783 | 0 |
8. | To re-elect Mr. Alan Ferguson as a director | 388,097,054 | 99.90 | 407,518 | 0.10 | 149,079 | 0 |
9. | To re-elect Mr. Albert Garner as a director | 318,651,096 | 82.02 | 69,851,494 | 17.98 | 151,061 | 0 |
10. | To re-elect Ms. Jinhee Magie as a director | 388,434,916 | 99.98 | 74,636 | 0.02 | 144,099 | 0 |
11. | To re-elect Ms. Diana Sands as a director | 388,238,666 | 99.93 | 269,238 | 0.07 | 145,747 | 0 |
12. | To re-elect Mr. Jochen Tilk as a director | 387,430,478 | 99.73 | 1,057,229 | 0.27 | 165,944 | 0 |
13. | To re-appoint PricewaterhouseCoopers LLP as statutory auditors of the Company | 388,460,144 | 99.98 | 60,728 | 0.02 | 132,779 | 0 |
14. | To authorise the Audit and Risk Committee of the Company to determine the remuneration of the Company's statutory auditors | 388,412,689 | 99.96 | 172,678 | 0.04 | 68,284 | 0 |
15. | To ratify the appointment of PricewaterhouseCoopers Inc. as independent registered public accountants of the Company | 388,467,934 | 99.97 | 127,236 | 0.03 | 58,481 | 0 |
16. | To authorise the Company to make political donations up to an aggregate limit of £100,000 | 262,796,980 | 67.63 | 125,761,730 | 32.37 | 94,941 | 0 |
1. | Votes ‘for' include those votes giving the Chair discretion. | |
2. | For all relevant purposes votes which are "withheld" or "abstained" are not votes in law and are not counted in the calculation of the proportion of votes for and against each resolution. |
On 4 April 2025, the record date as set out in the Notice of AGM, there were 504,087,287 ordinary shares in issue. Shareholders are entitled to one vote per share on a poll.
Corporate update
Further to the announcement made on 20 December 2024, the Company confirms that Rhidwaan Gasant has stepped down from the Board on 27 May 2025. Other than fees accrued up to the date he ceased to be a director, no other remuneration payment will be made by the Company to Rhidwaan Gasant after he ceases to be a non-executive director, nor will any payment for loss of office be made.
The previously announced appointment of Alan Ferguson as Lead Independent Director and Diana Sands as Chair of the Audit and Risk Committee also took effect on 27 May 2025.
JSE Sponsor: The Standard Bank of South Africa Limited
View source version on businesswire.com: https://www.businesswire.com/news/home/20250528440012/en/
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Cartier Resources Inc. Announces AGM Election Results
Cartier Resources Inc. (TSX-V: ECR) (" Cartier " or the " Company ") announces that at its annual general meeting of shareholders held on May 27, 2025, the following individuals were elected as directors of Cartier:
| Name | Votes for | % For |
| Myrzah Tavares Bello | 52,547,290 | 98.17 |
| Philippe Cloutier | 53,412,290 | 99.79 |
| Mario Jacob | 53,412,290 | 99.79 |
| Alain Laplante | 53,388,268 | 99.74 |
| Daniel Massé | 53,412,290 | 99.79 |
| Manuel Peiffer | 53,388,268 | 99.74 |
The stock option plan of the Company (the " Plan ") as described in the Management Information Circular dated April 24, 2025 (the " Circular ") was approved by the shareholders at the meeting. The maximum number of shares issuable under the Plan is to represent a maximum of 10% of the shares issued and outstanding from time to time (on a non-diluted basis). For further information, the Circular is available for consultation on SEDAR+.
The proposal to appoint KPMG LLP as auditors of the Company as presented in the Circular was approved by the shareholders at the meeting.
Following the annual meeting, the Board of Directors named the following individuals as officers of the Company:
- Philippe Cloutier, P.Geo., President and Chief Executive Officer;
- Ronan Deroff, P.Geo., Vice President Exploration;
- Nancy Lacoursière, BAA, Chief Financial Officer;
- Daniel Massé, B.SC., ADM.A. PL.FIN., Chairman of the board;
- Alain Laplante, FCPA, ICD.D, Corporate Secretary.
The Chairman of the board, Daniel Massé is pleased to announce the appointment of Mr. Deroff as the new Vice President of Exploration and stated: "Over the years, Ronan has played a significant role in advancing our company, particularly in the development of the Cadillac camp. His strong expertise, excellent knowledge of the territory, and extensive exploration experience will enable him to effectively oversee the continued rigorous execution of our current programs while generating new opportunities, especially within the Cadillac camp."
On May 27, 2025, the Board of Directors granted a total of 3,600,000 stock options to directors, officers and one consultant of the Company. Pursuant to the terms of the stock option plan, each option will entitle the holder thereof to purchase one common share of the Company at a price of $0.11 per share no later than May 26, 2030.
Contact:
Philippe Cloutier
President and CEO
Cartier Resources Inc.
Telephone: (819) 874-1331, Toll free: 877 874-1331, Fax: (819) 874-3113
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.
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RUA GOLD Reports High-Grade, near Surface Gold Intercepts at Cumberland, Including 1m @ 26.9 g/t Au and 1m @ 16.2 g/t Au, Confirming Continuity of Mineralization at the Gallant Target
Rua Gold Inc. (TSXV: RUA) (OTCQB: NZAUF) (WKN: A40QYC) ("Rua Gold" or the "Company") is pleased to announce initial drill results from the Cumberland gold camp at the Reefton Project on New Zealand's South Island.
In the first month of drilling, the initial two holes intersected near-surface, high-grade gold mineralization. These results validate the prospective targets identified through VRIFY 's AI-Assisted Mineral Discovery Platform, DORA. Drilling is ongoing and continues to build on these encouraging early results, with systematic testing progressing southward along the 2.2 km historic mine corridor.
Highlights:
Significant broad quartz veins were intersected in drillholes CUDDH001 and CUDDH002, defining true widths of the main Gallant vein ranging from 5m to 9m. These results are consistent with historical intersections reported by OceanaGold Limited.
Assay results show:
- CUDDH001: 3m @ 6.3g/t Au from 44m depth
- Including 1m @ 16.2g/t Au
- CUDDH002: 14m @ 3.4g/t Au from 64m depth
- Including 1m @ 26.9g/t Au
- CUDDH001: 3m @ 6.3g/t Au from 44m depth
Historical drilling by prior operators targeting the Gallant structure intercepted 20.7m of quartz with individual 1m assays ranging from 0.15g/t gold to 1911g/t gold (60oz/t).
Drilling has confirmed discrete zones of high-grade gold mineralization hosted by quartz veins, accompanied by a broad halo of lower-grade gold from surface to a depth of 80m.
The visible gold within quartz is reminiscent of the style and size of Federation's Blackwater Project, 11km to the south.
The geological team have relocated the drill rig to a new pad situated 100m south of the initial drill pad. 6 holes of depths ranging from 70m to 180m are planned, where surface mapping has identified quartz veins extending 200m southward.
Steeply dipping quartz veins with continuity from surface contributes to significantly lower drilling and development costs, supporting efficient advancement towards a resource.
The Cumberland structural zone was identified as a standout target using the VRIFY AI tool. Subsequent drilling will systematically test the 2.2km Cumberland gold camp, with a focus on high-priority targets identified by the VRIFY AI tool.
The Cumberland gold camp is a historic site located 3km south of Globe-Progress Mine, which has a rich production history of over 1 million ounces of gold produced. Drilling of the Gallant target within the Cumberland gold camp began in April 2025. The first two holes, CUDDH001 and CUDDH002, intersected 25m of mineralization, marking a strong start to the exploration of the gold camp.
Robert Eckford, CEO of Rua Gold, commented, "We acquired the Cumberland gold camp in November 2024 and received access agreements to commence drilling in April 2025. From the very first drill holes, we intersected significant, wide quartz veins hosting high-grade gold, confirming historical intercepts. This marks an exciting start, validating the effectiveness of the VRIFY AI targeting process and confirming near-surface mineralization with the potential to extend the envelope of known mineralization across a 2km structural zone.
Our focus is on developing economically viable ounces, and the Gallant target is a key part of this strategy. Fully accessible via a road, the Gallant target has logistical simplicity for both exploration and potential development. Achieving high-grade, near-surface intercepts at this early stage is a significant milestone in demonstrating the viability of our hub-and-spoke business model that we envisage for the Reefton Goldfield.
The Gallant prospect represents the first VRIFY target that we have drilled so far. This structure is traceable on surface for over 600m and remains largely untested along strike and at depth. These initial results are an encouraging step in defining the potential shape and size of this target."
Figure 1: Overview of the Reefton Goldfield.
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RESULTS FROM INITIAL DRILLING
Based on the extensive surface exploration work and historical drilling, the Gallant target within the Cumberland gold camp stands out as an exceptional high-grade target. Following the completion of mining at the Globe-Progress Mine, the Gallant target was left largely untested. Quartz veins are exposed on surface within an envelope of strong gold-arsenic anomalism.
The Gallant lode was previously drilled by OceanaGold Limited 15 years ago, with several exploratory holes drilled on a well-defined quartz vein at shallow depth (Table 5 and Figure 2).
Results from drill holes CUDDH001 and CUDDH002 confirm the consistency of the near-surface Galant lode and support the strong potential of this target, following up the historical hole GAL001 drilled by OceanaGold Limited, which resulted in 20.7m @ 62.2 g/t (2 oz/t) Au. Full assay results are in Tables 1 and 2 of the appendices.
Drill hole CUDDH003, drilled to the north, intercepted a 2m quartz vein, but did not intersect the main vein, and similarly, drill hole CUDDH004 did not intersect the quartz, suggesting the structure steepens and is potentially offset to the north. Drill hole CUDDH005 intercepted historical workings with remanent quartz veins in the foot and hanging wall, confirming the continuity of the veins southward. Assays are pending for drill hole CUDDH007.
Ongoing drilling is targeting the southern surface extension of the Gallant lode 100m along strike and at depth. Intensified surface exploration is underway further south to delineate additional drill targets along the southern extensions of the structure.
Figure 2: Gallant Cross Section.
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THE HISTORY
The Cumberland gold camp comprises 7 historic mines in a 2 km long north-northwest trending zone of quartz veins and shearing. Historic production totaled 21,740oz gold at an average recovered grade of 26.1 g/t (see appendices).
Figure 3: Map showing Cumberland historic mine camp.
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VRIFY'S AI-ASSISTED MINERAL DISCOVERY PLATFORM
The Company has partnered with VRIFY to onboard DORA, their AI-Assisted Mineral Discovery Platform to accelerate discovery, reduce costs and further de-risk exploration.
In conjunction with the consolidation of the Reefton Goldfield in November 2024, the Company implemented DORA, where early in the AI training phase, the platform identified Cumberland as a standout target. The VRIFY team has assimilated geochemistry, drilling and geophysical data across the entire district with unprecedented scale and accuracy, processing over 84GB of data, and more than 170,000 data points. This comprehensive analysis is directly informing our 2025 drill targets, accelerating our project advancement and de-risking our work programs.
Rua Gold's data was unlocked through DORA, VRIFY's Al-Assisted Mineral Discovery Platform which synthesized complex datasets in minutes, a process that would have taken months, if performed manually. This enabled Rua Gold's exploration team to actively and effectively rank its 2025 drill targets using data-backed insights.
ACCELERATED DISCOVERY: Rua Gold inherited thousands of data points from historic activity on its multiple mine sites and exploration work with the Reefton Goldfields. The ability to rapidly mine this existing data for new insights and targets, while incorporating recent work, provided real-time feedback through VRIFY's platform to inform drilling programs.
SCALABILITY and COST SAVINGS: Rua Gold is just beginning and is confident that VRIFY will continue to add value by allowing for the analysis of larger datasets without increasing costs linearly.
HIGHER ACCURACY: VRIFY's proprietary Al model reduces human error and bias, while and identifying patterns that manual review might miss, increasing discovery potential.
Figure 4: VRIFY AI hotspot identification showing Cumberland-Gallant Prospect.
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QAQC Drill Core Samples
Drillhole collar locations were recorded using a Garmin GPSMAP 66i by Rua Gold staff. Downhole surveys were completed for each drillhole at 30m intervals by using a GYRO system by the drill contractor Alton Drilling.
Drillholes were split sampled following 1-m sample intervals unless sample contacts are dictated by mineralization. PQ and HQ core were sampled as half core. NQ core was analyzed as whole core; requiring cutting only along sample intervals.
Drill core samples were sent to SGS Westport for sample preparation. Core was crushed to 75% passing 2 mm (SGS code CRU75), and a 1-kg split of material was pulverized (to 85% passing 75 µm; SGS code PUL85_CR). No split duplicates were collected during the crushing steps. Two scoops were taken from the pulverize bowl: one for laboratory analysis (~150 g) and the other for pXRF analysis (~100 g). The pulp reject is stored at Rua Gold's Reefton facility.
Coarse gold intersections were sampled in full, dried and dispatched to ALS Perth, Australia, for PhotonAssay analysis. Samples were coarse crushed at ALS Perth (ALS code CRU-21) and ~500 g of material used for analysis.
QAQC PHOTON ASSAYING
Samples were analyzed by PhotonAssay at ALS Perth, Australia (ALS code Au-PA01), which has a detection range of 0.03-350 ppm Au. PhotonAssay analysis works by bombarding samples with high-energy X-rays which excite atomic nuclei that produce gamma rays at signature energies, allowing for gold detection. This method has a fast turnaround time and is non-destructive, allowing the preservation of the entire whole-core and unlimited repeat testing. Samples were submitted with certified reference material (CRM) from OREAS into the sample stream every 5 samples.
ALS Perth is independent of Rua Gold and its quality management systems framework is accredited to ISO/IEC 17025:2005 or certified to ISO 9001:2015 standards.
The QP has verified the data disclosed including sampling, assay procedure and analytical information contained in the written disclosure.
ABOUT Rua Gold
Rua Gold is an exploration company, strategically focused on New Zealand. With decades of expertise, our team has successfully taken major discoveries into producing world-class mines across multiple continents. The team is now focused on maximizing the asset potential of RUA's two highly prospective high-grade gold projects.
The Company controls the Reefton Gold District as the dominant landholder in the Reefton Goldfield on New Zealand's South Island with over 120,000 hectares of tenements, in a district that historically produced over 2 million ounces of gold grading between 9 and 50 g/t.
The Company's Glamorgan Project solidifies Rua Gold's position as a leading high-grade gold explorer on New Zealand's North Island. This highly prospective project is located within the North Islands' Hauraki district, a region that has produced an impressive 15 million ounces of gold and 60 million ounces of silver. Glamorgan is adjacent to OceanaGold Corporation's biggest gold mining project, WKP.
For further information, please refer to the Company's disclosure record on SEDAR+ at www.sedarplus.ca.
TECHNICAL INFORMATION
Simon Henderson CP, AUSIMM, a qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the technical disclosure contained herein.
Rua Gold CONTACT
Robert Eckford
Chief Executive Officer
Email: reckford@RUAGOLD.com
Website: www.RUAGOLD.com
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur and specifically include statements regarding: the Company's strategies, expectations, planned operations or future actions; and the effects and benefits of the Transaction. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements.
Investors are cautioned that any such forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. A variety of inherent risks, uncertainties and factors, many of which are beyond the Company's control, affect the operations, performance and results of the Company and its business, and could cause actual events or results to differ materially from estimated or anticipated events or results expressed or implied by forward-looking statements. Some of these risks, uncertainties and factors include: general business, economic, competitive, political and social uncertainties; risks related to the effects of the Russia-Ukraine war; risks related to climate change; operational risks in exploration, delays or changes in plans with respect to exploration projects or capital expenditures; the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; changes in labour costs and other costs and expenses or equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry, including but not limited to environmental hazards, flooding or unfavorable operating conditions and losses, insurrection or war, delays in obtaining governmental approvals or financing, and commodity prices. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements and reference should also be made to the Company's short form base shelf prospectus dated July 11, 2024, and the documents incorporated by reference therein, filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors.
Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
This news release references projects near to the mineral projects of the Company and historical production from certain areas of New Zealand. Mineralization on nearby projects is not necessarily indicative of mineralization on the Company's Project. Historical production from the Globe-Progress Mine, the Reefton Gold District or the Hauraki District is not necessarily an indication that significant production will be possible from the Glamorgan Project or the Cumberland Gold Camp.
APPENDICIES
Table 1: Cumberland 001 assay table
| Sample No | From | To | Interval | Photon Assay Au (g/t) |
| CU01012 | 44 | 45 | 1 | 16.17 |
| CU01013 | 45 | 46 | 1 | 1.12 |
| CU01014 | 46 | 47 | 1 | 1.61 |
Table 2: Cumberland 002 assay table
| Sample No | From | To | Interval | Photon Assay Au (g/t) |
| CU02010 | 64 | 65 | 1 | 1.03 |
| CU02011 | 65 | 66 | 1 | |
| CU02012 | 66 | 67 | 1 | 2.85 |
| CU02013 | 67 | 68 | 1 | 0.42 |
| CU02014 | 68 | 69 | 1 | 0.31 |
| CU02016 | 69 | 70 | 1 | 1.55 |
| CU02017 | 70 | 71 | 1 | 3.59 |
| CU02018 | 71 | 72 | 1 | 26.9 |
| CU02019 | 72 | 73 | 1 | 1.31 |
| CU02020 | 73 | 74 | 1 | 0.03 |
| CU02022 | 74 | 75 | 1 | 0.58 |
| CU02023 | 75 | 76 | 1 | 0.72 |
| CU02024 | 76 | 77 | 1 | 3.88 |
| CU02025 | 77 | 78 | 1 | 0.88 |
Table 3: Collars for Cumberland drill holes
| Drill hole | Easting (NZTM) | Northing (NZTM) | Elevation (RL) | End depth | Azimuth | Dip |
| CUDDH001 | 1508685 | 5327989 | 618 | 89.9 | 92 | -46 |
| CUDDH002 | 1508685 | 5327989 | 618 | 104.8 | 92 | -69 |
| CUDDH003 | 1508685 | 5327990 | 618 | 157.8 | 40 | -57 |
| CUDDH004 | 1508685 | 5327989 | 618 | 194.5 | 92 | -78 |
| CUDDH005 | 1508685 | 5327987 | 618 | 133.7 | 135 | -45 |
Table 4: Historic Production Cumberland Camp (Barry, 1993)
| Lode | Tonnes | Production (Au oz) | Recovered grade (oz/t) | Recovered grade (g/t) |
| Scotia | 604 | 1,283 | 2.1 | 66.1 |
| Gallant | 2,378 | 759 | 0.3 | 9.9 |
| Sir Francis Drake-Happy Valley | 17,261 | 5,810 | 0.3 | 10.5 |
| Cumberland | 14,120 | 13,629 | 1.0 | 30.0 |
| Exchange-Industry | 519 | 260 | 0.5 | 15.6 |
Source: Barry, J.M., 1993. The History and Mineral Resources of the Reefton Goldfield. Ministry of Commerce Resource Information Report No. 15.
Table 5: Collar for GAL001, historic drill hole.
| Drill hole | Easting (NZTM) | Northing (NZTM) | Elevation (RL) | End depth | Azimuth | Dip |
| GAL001 | 1508726 | 5327981 | 628 | 123.7 | 293° | -70° |
Projection: New Zealand Transverse Mercator (NZTM) 2000.
Reference for Gallant assay results:
Anderson, T., 2014. MP 41164 Globe Progress annual technical report - 2014, OceanaGold Ltd; NZP&M, Ministry of Business, Innovation & Employment (MBIE), New Zealand. Unpublished Mineral Report MR5093.
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