
July 08, 2025
Nobel Resources Corp. (TSX – V: NBLC) (the “Company” or “Nobel”) is pleased to provide an update on its ongoing exploration at the Cuprita Project (the “Project” or “Cuprita”) in Atacama Region, Chile. Following the recent identification by Nobel geologists of a leach cap with characteristics strongly associated with porphyry copper-(gold) deposits in the region at Cuprita, including associated highly anomalous copper in soils and bedrock, the Company has additionally confirmed:
- the existence of an IP chargeability and resistivity anomaly typical of porphyry copper deposits in the region; and
- the presence of highly anomalous copper chip samples from outcrops associated with the leach cap.
The geological features being identified by Nobel field work at Cuprita demonstrates the Project is highly prospective.
According to Vern Arseneau, COO of Nobel, “After only a few short weeks in the field, Nobel Geologists have identified key characteristics of a shallow mineralized porphyry system at Cuprita. The leach cap, IP anomaly, significant copper bearing rock chips and the copper in soil anomaly are all located adjacent to a ground magnetic low. These traits are situated near the intersection of a major north-northeast striking fault structure with numerous northwest striking quartz veins with copper oxides. Intersecting major faults is a common, if not essential, structural control for the emplacement of copper-gold porphyries in the region (Figure 3). This is essentially the complete suite of important indicators used when identifying productive porphyry copper systems, combined with a leach cap in one of the most important porphyry copper belts globally indicate excellent potential for a mineralized porphyry deposit at the Cuprita project.”
The IP survey was carried out by Argali Geophysical SA during November 2018 and consisted of three E-W lines across the area of the recently identified leach cap. Survey parameters were 100m spaced dipoles with an estimated depth penetration of 700m at N=27. The top of the IP anomaly, based on this data, is estimated to be approximately 200meters below surface. (Figure 3; line 7055700N). All three lines exhibit a similar chargeability/resistivity response and the anomaly remains open to the North and South.
The chargeability anomalies from 7 to 9 mV/V are in line with many of the porphyry copper deposits near Inca de Oro which are notoriously low in pyrite and therefore in chargeability. Chargeability of less than 10 mV/V has been observed at many deposits local to Cuprita. Similarly, field observations by Nobel geologists have also confirmed the general lack of pyrite in altered rocks at Cuprita.
Rock chip sampling of mineralized structures associated with the leach cap, anomalous soil samples and the ground magnetic anomalies returned highly anomalous copper values ranging from 0.25 to 3.46% Cu. Many of the rock samples contain remnant copper sulfides, such as Chalcocite, Chalcopyrite and locally Bornite (Figure 1). Additionally, a sample taken 500m to the northeast, where QZ vein stockwork with disseminated chrysocolla outcrops with a grade of 2.06% Cu (Figure 2) signifying the potential for a large extensive system.

Figure 1: Rock sample with Chalcopyrite and Bornite grading 1.36% copper associated with the leach cap.

Figure 2: Sample of copper-rich stockwork of quartz and chrysocolla grading 2.06% copper from 500 meters northeast of previous sample.
According to Larry Guy, CEO, “Nobel geologists believe that this newly identified geological / geochemical evidence along with the geophysical compilation points to potential for a large mineralized porphyry at shallow depth covering the area between the anomalous soil results to the South and extending more than 2 kilometers North to the previously reported ground magnetic lows. (Figures 3 and 4; map and cross section and Figure 5 conceptual geological model).
Geologically, Cuprita is part of the Metallogenic Paleocene Porphyry Copper Belt that hosts several major porphyry copper deposits, such as El Salvador, Cerro Colorado, Spence, Sierra Gorda, Fortuna, as well as several gold deposits. Recent field work at Cuprita has focused the targeting for forthcoming drill programs.

Figure 3: Compilation map showing the location of the extensive leached cap (lithocap) and associated structures, outcrop samples, quartz-copper veins, soil geochemical anomalies, tourmaline breccias associated with a magnetic low, that comprise the key criteria for a mineralized porphyry target.

Figure 4. Schematic Section showing the Conceptual Model of the Porphyry in Cuprita.

Figure 5. Conceptual model for the Cuprita porphyry target (modified after Halley et al., 2015) The key geological components for the classic mineralized Andean porphyry model have been identified at the Cuprita target.
Qualified Person
The scientific and technical information in this news release has been reviewed and approved by Mr. David Gower, P.Geo., as defined by National Instrument 43-101 of the Canadian Securities Administrators. Mr. Gower is a consultant of Nobel and is not considered independent of the Company.
About Nobel
Nobel Resources is a Canadian resource company focused on identifying and developing prospective mineral projects. The Company has a team with a strong background of exploration success.
For further information, please contact:
Lawrence Guy
Chairman and Chief Executive Officer
+1 647-276-0533
Vincent Chen
Investor Relations
vchen@nobel-resources.com
www.nobel-resources.com
Cautionary Note Regarding Forward-looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, the mineralization and prospectivity of the Project, the Company’s ability to explore and develop the Project, the Company’s ability to obtain adequate financing and the Company’s future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward- looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Nobel, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; risks associated with operation in foreign jurisdictions; ability to successfully integrate the purchased properties; foreign operations risks; and other risks inherent in the mining industry. Although Nobel has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Nobel does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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07 September 2021
Nobel Resources
Overview
The idea that copper is “the new oil" may seem strange at first, but there's good reason for these claims. With the copper industry facing a potential 4.7 million metric ton deficit by 2030—experts like Trafigura Group are now saying new mines will need to be built to supply the estimated 10 million tonnes required to meet global demands for this metal.
There's no denying how much global demand there is for copper. In the last year alone, prices have surged from US$2.50 per pound to US$4.58. This has led investors to shift their attention to Chile, the world's top copper producer, as they look to invest in companies capable of supplying this increasing demand.
Nobel Resources (TSXV:NBLC) (OTCQB:NBTRF) is a mining company that's looking to take advantage of mineralized IOCG deposits in Chile through its flagship Algarrobo project. The company is operating in northern Chile, a strategic and relatively unexplored project that boasts past production that has persisted for decades and continues today. Presently artisanal miners are are direct-shipping ore grading at least 12 percent copper to the plant in Copiapo for processing.
An Iron oxide copper gold ore deposit (IOCG) deposits tend to be large in size, metallurgically simple, relatively high-grade, and suitable for highly profitable mines. The famous Candelaria Mine in the region which is owned by the lundin Group is a member of this deposit classification.
Nobel Resources CEO, David Gower, notes that the area has “never really been explored from a modern perspective" and hopes that “we'll be the first group to go in and apply modern techniques to prove up what's a very large system of mineralization."
Gower also explained to INN how the “Chilean coastal copper belt… is one of the most prolific copper belts in the world." It boasts “exceptional grades," with initial underground sampling with values as high as an approximately 15-30 percent copper range. Copper and, to a lesser extent, gold make Chile the ideal location for a new mining investment project.
The Company is planning a drill campaign, commencing September 10, to test 5 large targets comprising magnetic and coincident IP anomalies and with associated copper mineralization identified near surface in most cases (Figure 2 below shows the targets and approximate locations of the planned drilling). The campaign will comprise 40-50 diamond drill holes ranging in depth from 100 meters to approximately 500 meters for a total of 10,000 – 12,500 meters of drilling. Given the large scale of particularly the Central Target, several long holes per section will be required to evaluate the anomalies. The configuration used for the IP survey penetrates to at least 400 meters and the anomalies persist to that depth. Typically, IOCG deposits have a large vertical extent that can exceed 1 km.
Chile is a world-class, top mining country that contains valuable IOCG deposits. The country's mining potential is even more lucrative when you consider that a large portion of the high-grade mineralization occurs close to the surface. The Algarrobo project is located within 25km of a port and a smelter, plant and mill are located 45km south by road in the nearby city of Copiapó.
Gower describes the opportunity as “a very unique story" and believes Nobel Resources's main project has “a bright future at least for the next few years." Drilling operations have already begun, and the physical program for the project is halfway to completion. The business has achieved a National Instrument (NI) 43-101 from Canada with this progress.
Having started with a C$5 million budget, the company successfully raised over C$9 million, allowing it to accelerate the project and deliver further results over the next 12 months, according to the CEO. As of April 2021, the company maintains a strong cash position. Nobel Resources boasts a fully-funded and permitted exploration program.
Fully diluted, the company has 71,440,690 shares outstanding, which includes 3,755,000 and 1,907,400 shares worth of options and warrants respectively. Nobel Resources can be an excellent opportunity for investors, as it allows them access to an advanced, high-grade IOCG project in an active region with great discovery potential.
Company Highlights
- Nobel Resources has a fully funded and permitted exploration program with a tight capital structure and shareholder alignment.
- The company boasts a proven leadership team, with CEO David Gower bringing over 20 years of industry experience through his time at Falconbridge (now Glencore), and serves as a current Director of Alamos Gold (TSX:AGI).
- Initial samples taken at the Algarrobo project site revealed mineralized veins that may be capable of producing up to 14MM tonnes of copper and gold.
- The company is operating in a mining-friendly jurisdiction with access to critical infrastructure and additional copper mines in the area.
- Nobel Resources has the right to acquire 100 percent of the Algarrobo IOCG property.
- Nobel Resources also received approval from the TSX Venture Exchange to acquire 100 percent of the La Salvadora project.
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Developing The Next World-Class IOCG Project In Chile
22h
African Discovery Group
AFRICAN DISCOVERY GROUP, INC. (AFDG or the "Company") acquired 100% of African Discovery Group, Inc., a Delaware corporation, in November, 2020. The Company's previous South African car rental business was spun off to the Company's former principals. Through its 100%-owned subsidiary, the Company currently generates consulting revenue from its Africa-based clients. The primary businesses from which the Company currently generates royalty revenues and from which it intends to generate royalty revenues in the future, include power (via its agreement with Monitor Power Systems), agriculture/sustainability (its agreement with African Agriculture, Inc.), media (its part ownership of Ogelle), strategic minerals, and finance sectors on the African continent.
30 September
Preliminary data of Butembo Copper prospect, with near surface high-grade copper oxidized ore with grades of up to 18%
African Discovery Group (OTC:AFDG) (“AFDG” or the “Company”) has entered into a term sheet to acquire the Butembo Copper exploration license in the Democratic Republic of Congo (DRC) by acquiring 100% of the shares of SOCIETE GRABIN MINING SAS (the “Transaction”). The Butembo Copper project is a greenfield exploration project located in the North Kivu province of the Democratic Republic of Congo. 40km south of the provincial capital of Beni. The project is located 33km west of the Ugandan border with verified road and rail access to the port of Mombasa.
The area is generally underexplored relative to the well-known copper belts of the Katanga copper belt to the south - however the Mesoproterozoic Kibalian greenstone belt is known for its tungsten-tin-gold occurrences, and it hosts the well-known Kilembe Mine nearby which has produced substantial quantities of both copper and cobalt
According to Rio Tinto, African deposits make up eight out of the 10 highest grade deposits discovered since 1990. The recent discovery of the Butembo copper deposit has underscored the need for further exploration work in areas peripheral to the Katanga Copper Belt.It is important to note that the artisanal pits initially targeted and extracted alluvial gold in the surficial gravels that overly the schists hosting the copper mineralization.The implication is that Butembo is prospective for both gold and copper.
The Butembo discovery is a near surface high-grade copper oxidized ore with measured grades of up to 18% with depth and lateral extension potential of over 5km along strike. The project is located at the base of the Ruwenzori mountains and borders Virunga National Park. There is extensive artisanal activity for both copper and gold and by extension a thriving small scale minerals industry exists in Butembo going back years. Regolith clay samples to the north have tested positively for copper – this is interpreted as a positive indicator of a northern extension to Butembo.
The artisanal and first phase exploration pits around the flood plain of the Talehya River, which runs through the concession, have been tested over an initial 500m of strike length – and the results have been positive with one of these analyses reporting the 18% Cu mentioned above as well as 16.3% in another exploration pit.
The deposit is in the vicinity of the historic Kilembe copper mine (4 million tons) across the border in Uganda whose sulphide mineralization occurs within biotite schists thought to have formed by hydrothermal fluids during early tectonic cycles that were trapped in structurally favorable impermeable locations. This offers a unique insight into the potential geological controls of the Butembo deposit. Mineralization is structurally controlled, occurring along northeast-trending shear zones and folds that facilitated hydrothermal fluid flow. The primary ore minerals include chalcopyrite, pyrite, and linnaeite, forming massive sulfide lenses and disseminated zones.
The Butembo deposit holds a strategically advantageous location, benefiting from proximity to regional infrastructure, which includes electrical power being available within reach of the project boundary. The site is located close to the Ugandan border, offering access to the East African transport corridor. This includes road and rail connections through Uganda to the port of Mombasa, Kenya—providing a viable export route for future development.
The combination of surface high-grade mineralization, artisanal activity, infrastructure access, and strategic location positions the Butembo Copper Project as a high-potential target for early-stage exploration and resource delineation.
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30 September
Copper Quest Exploration: Unlocking District-scale Copper Porphyry Systems in North America
Copper Quest Exploration (CSE:CQX, OTCQB:IMIMF, FRA:3MX) is focused on creating shareholder value through the exploration and development of its North American critical mineral portfolio, with more than 40,000 hectares across tier-one jurisdictions in Canada and the US.
In British Columbia, the company’s assets include the Stars copper-molybdenum discovery in the Bulkley Porphyry Belt, the Stellar property with historic showings and new anomalies, an earn-in on the Rip project, a large porphyry copper-molybdenum system, and the Thane Project in the Toodoggone Belt, prospective for copper-gold-molybdenum.
The Stars project is a 9,694-hectare, road-accessible copper-molybdenum property in the prolific Bulkley Porphyry Belt, home to past producers such as Imperial Metals’ Huckleberry mine and Newmont’s Equity Silver Mine. Stars is defined by a 5 × 2.5 km annular magnetic anomaly coincident with a mineralized monzonite intrusion. Drilling in 2018 confirmed a significant porphyry system at the Tana Zone, highlighted by intercepts of 0.466 percent copper over 195.1 meters from 23 meters, including 40 meters averaging nearly 1 percent copper, and 0.20 percent copper over 396.7 meters from 28 meters. All holes to date have returned copper levels well above background, with alteration, intrusive textures, and veining typical of productive porphyry systems.
Company Highlights
- Large, Tier-one Land Position: More than 40,000 hectares across British Columbia’s Bulkley and Toodoggone Porphyry Belts, plus a newly acquired copper-gold porphyry project in Idaho, USA.
- Flagship Discovery at Stars: Drill intercepts of 0.466 percent copper over 195.1 m confirm a fertile porphyry copper-molybdenum system with over 30 km of untested intrusive contacts.
- Multiple Copper Systems: Canadian portfolio includes Stars, Stellar, Rip (earn-in up to 80 percent) and Thane, each offering district-scale potential in proven belts.
- Idaho Acquisition: The Nekash copper-gold porphyry project in Lemhi County, Idaho, is a milestone acquisition aligned with its strategy to build a portfolio of highly prospective copper assets across North America.
- Strong Technical Bench: Leadership and advisory team include former senior executives from Freeport, Glencore and Trevali, with extensive porphyry exploration and mine development expertise.
This Copper Quest Exploration profile is part of a paid investor education campaign.*
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29 September
Copper Quest Exploration
Investor Insight
Copper Quest Exploration is advancing a portfolio of high-quality copper porphyry projects across British Columbia and the Western United States. With over 40,000 hectares in tier-one jurisdictions and a discovery-first mindset, the company is positioned to deliver multiple catalysts from both Canadian and US projects in 2025 and beyond.
Overview
Copper Quest Exploration (CSE:CQX,OTCQB:IMIMF,FRA:3MX) is focused on creating shareholder value through the exploration and development of its North American critical mineral portfolio. The company’s land position covers more than 40,000 hectares across tier-one mining jurisdictions in Canada and the US.
In British Columbia, Copper Quest holds a 100-percent-interest in the Stars property, a porphyry copper-molybdenum discovery covering 9,693 hectares in central BC’s Bulkley Porphyry Belt; the 5,389-hectare Stellar property, consolidating multiple historic showings and new geophysical anomalies; an earn-in option of up to 80 percent on the Rip project, a 4,700-hectare porphyry copper-molybdenum system in the same belt; and the 100-percent-owned Thane Project, spanning 20,658 hectares in the Toodoggone Porphyry Belt with multiple copper-gold-molybdenum targets.In Lemhi County, Idaho, Copper Quest has acquired the Nekash copper-gold porphyry project, an early-stage, highly prospective property in the Idaho-Montana porphyry belt. The acquisition marks Copper Quest’s expansion to the US, strategically leveraging Idaho’s growing reputation as a copper exploration frontier.
Company Highlights
- Large, Tier-one Land Position: More than 40,000 hectares across British Columbia’s Bulkley and Toodoggone Porphyry Belts, plus a newly acquired copper-gold porphyry project in Idaho, USA.
- Flagship Discovery at Stars: Drill intercepts of 0.466 percent copper over 195.1 m confirm a fertile porphyry copper-molybdenum system with over 30 km of untested intrusive contacts.
- Multiple Copper Systems: Canadian portfolio includes Stars, Stellar, Rip (earn-in up to 80 percent) and Thane, each offering district-scale potential in proven belts.
- Idaho Acquisition: The Nekash copper-gold porphyry project in Lemhi County, Idaho, is a milestone acquisition aligned with its strategy to build a portfolio of highly prospective copper assets across North America.
- Strong Technical Bench: Leadership and advisory team include former senior executives from Freeport, Glencore and Trevali, with extensive porphyry exploration and mine development expertise.
Key Projects
Stars Project
The Stars project is a 9,694-hectare, road-accessible copper-molybdenum property situated within the prolific Bulkley porphyry belt. The district is home to past-producing operations such as the Huckleberry mine, operated by Imperial Metals, and Newmont’s Equity Silver Mine, making it a proven copper jurisdiction. Stars is defined by a 5 × 2.5-kilometre annular magnetic anomaly that coincides with a copper-molybdenum mineralized monzonite intrusion. In 2018, drilling confirmed a significant porphyry system at the Tana Zone, returning intercepts of 0.466 percent copper over 195.1 m from 23 m with molybdenum credits and 0.20 percent copper over 396.7 metres from 28 metres depth. Shorter, higher-grade sections included 40 metres averaging close to 1 percent copper. Importantly, every hole drilled on the property has returned copper concentrations well above background levels, with strong phyllic and potassic alteration, multi-phase intrusive textures, and quartz-sulfide veining consistent with productive porphyry systems.
Impressive drill results in 2018 have never seen follow-up exploration
Geological comparisons with Huckleberry suggest Stars has the potential to host multiple deposits along more than 30 kilometres of untested intrusive contact. Upcoming work will focus on IP surveys to vector into contact zones, step-out drilling at the Tana Zone, and initial drilling of embayment features such as the “Big Dipper” anomaly.
Rip Project
The Rip project is a 4,750-hectare copper-molybdenum property located 60 kilometres south of Houston, BC, with excellent access via Highway 16 and logging roads. Geophysical surveys completed in 2024, including airborne magnetics and a 3D-DCIP induced polarization program, identified two concentric chargeability anomalies encircling separate magnetic highs. These “donut” features are classic pyrite halos that typically rim porphyry copper centres.
In late 2024, Copper Quest drilled two holes totaling 1,033 metres into the northern anomaly. The results confirmed the presence of multi-phase porphyry intrusions with abundant quartz-pyrite-chalcopyrite-molybdenite veining, long intervals of anomalous copper above 0.1 percent, and strong alteration patterns. The larger southern anomaly remains completely untested and represents the project’s most significant target. Copper Quest has the option to earn up to 80 percent in Rip by spending $1 million by the end of 2025, after which the agreement transitions to a joint venture. Planned drilling will test the southern anomaly while stepping out on the northern target to vector into higher-grade zones.
Stellar Project
The Stellar project covers 5,389 hectares and lies immediately north of Stars. It consolidates multiple historic claims and showings that had never been evaluated under a unified geological model. Stellar hosts several key targets, most notably the Cassiopeia anomaly, a 2.5-kilometre magnetic bullseye with an 800-metre magnetic low at its centre, discovered in 2019 but never drill tested. This geophysical feature is strongly consistent with porphyry copper-molybdenum-gold models.
The Jewelry Box area is another high-priority target, hosting eight documented MINFILE showings where historical sampling returned extreme grades, including 36.7 percent copper, 31.2 percent copper, 22.6 percent copper with 4,860 grams per ton (g/t0 silver, and gold values up to 42 g/t. These occurrences are related to a porphyritic intrusion that cuts Hazelton Group volcanic rocks and limestone, with mineralization styles ranging from high-grade copper-gold-silver veins to lead-zinc-silver occurrences and rhodonite-hosted mineralization. Additional targets include the Galena Zone, a 100 × 150 metre area with strong lead-silver-zinc mineralization, and the Northwest Showings, associated with syenite intrusions. Copper Quest is applying a holistic approach to the property for the first time, integrating fragmented historical exploration. Planned programs include ground IP at Cassiopeia, systematic mapping and sampling at Jewelry Box, and drill targeting across the consolidated property.
Thane Project
The Thane project is a 20,658-hectare copper-gold property in the Toodoggone District of the Quesnel Terrane, an area that hosts major porphyry deposits such as Mt. Milligan and Kemess. The property encompasses a 14 km × 6 km alteration footprint with at least ten mineralized centres, including Cirque, Fairway, Bananas, Gail, and Aten. Historical exploration has involved more than $5 million of investment in mapping, geochemistry, geophysics and shallow drilling, with 12 short diamond drill holes completed to date. Rock sampling campaigns between 2013 and 2020 returned copper grades exceeding 9,000 parts per million (ppm) and gold values up to 12.8 g/t, highlighting the system’s fertility. Regional Geoscience BC datasets place Thane in the 100th percentile for copper prospectivity across British Columbia. Copper Quest views Thane as a large-scale discovery opportunity and is considering a joint venture to advance the project while retaining upside exposure.
Nekash Project
The Nekash project is a highly prospective copper-gold porphyry opportunity in Lemhi County, Idaho, situated along the prolific Idaho-Montana porphyry belt. Spanning 70 unpatented federal lode claims (~585 hectares), the property is fully road-accessible via maintained US highways and forest service roads. Historic sampling has confirmed the presence of high-grade surface mineralization, including up to 3.8 percent copper, 0.9 g/t gold, and 25 g/t silver over 6.4 m in a stratabound “manto” horizon, and porphyry-style veins grading as high as 6.6 percent copper with gold values.
Acquired at a modest cost (4.25 million shares, no cash payment or royalties), and coupled with the appointment of an experienced technical advisor, Nekash offers shareholders exposure to a jurisdiction with favorable infrastructure, strong comparables and room for significant upside through geophysics, geochemistry and drilling.
Management Team
Brian Thurston — CEO and Director
Geologist with over 30 years of global exploration experience Brian Thurston is the former country manager for Aurelian Resources in Ecuador during the Fruta del Norte discovery. Has managed and founded multiple public resource companies with expertise in porphyry systems, corporate strategy, and capital markets.
Dong Shim — CFO
Dong Shim is a chartered professional accountant with extensive experience in public company audits, financial controls and cross-border reporting for TSXV, CSE and OTC issuers.
Dr. Mark Cruise — Director
A geologist and mining executive with over 25 years of experience, Mark Cruise is the founder and former CEO of Trevali Mining, which he built into a top-10 global zinc producer with operations in four countries. Previously with Anglo American.
Jason Nickel — Director
Jason Nickel is a mining engineer with three decades of mine design, operations, and project management experience across Canada. Held senior roles in underground and open-pit operations.
Cameron MacDonald — Director
Cameron MacDonald is a capital markets professional with background in M&A, project financing and equity/debt raises exceeding $950 million.
Joshua White – Technical Advisor
Joshua White is an exploration geologist with more than 13 years of experience, and a principal of Aqua Terra Geoscientists LLC. He worked for Kinross Gold as a project generation gold geologist, working at mines and exploration projects on 4 different continents.
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25 September
AFDG - Embracing US strategy, acquisition of Butembo copper deposit in the DRC. Copper added to draft list of US strategic minerals
African Discovery Group (OTC:AFDG) (“AFDG” or the “Company”) has signed a term sheet to acquire the Butembo Copper exploration license in the Democratic Republic of Congo (DRC) by acquiring 100% of the shares of SOCIETE GRABIN MINING SAS (the “Transaction”). With this proposed acquisition, AFDG aims to create a combined copper company built to deliver value creation for the next century. Congo has an estimated $24 trillion worth of mineral wealth, according to the World Bank.
First standalone Congolese company in the United States
As part of the renewed strategic alliance and vision between the United States and the DRC to promote strategic minerals, the USA-DRC Economic Forum will be hosted in Washington DC in October, in follow-up to a successful investment hosted by President Trump of the United States and President Tshisekedi of DRC in August in Washington.
Massad Boulos, US Senior Advisor for Africa to President Trump recently stated, "I look forward to working with President Félix Tshisekedi and his team to build a deeper relationship that benefits the Congolese and American people, and to stimulate American private sector investment in the DRC, particularly in the mining sector, with the shared goal of contributing to the prosperity of both our countries." United States Secretary of State Marco Rubio further stressed the importance of protecting U.S. strategic interests in critical minerals, which are important for the tech sector, and bringing stability to the region. Reports indicate his involvement in DRC’s peace process was seen as using U.S. influence in the minerals trade to facilitate U.S. access to critical minerals. President Trump has further stated "Our partnership (with the DRC) would provide the U.S. with a strategic advantage by securing critical minerals such as cobalt, lithium, copper and tantalum from the Democratic Republic of Congo. U.S. companies are ready to step up and are eager to invest. But for them to succeed, they need transparency, predictable governance, and a stronger enabling environment in the DRC."At the time of the closing of the transaction, the combined company will become the first stand-alone DRC company to be publicly traded in the United States.
DRC’s copper production is among the largest in the world, with the DRC concentrating 65% of newly announced copper reserves identified worldwide in 2023, according to S&P Global Market Intelligence. Numerous highly valued copper companies have recognized DRC’s copper potential including Ivanhoe Mining Limited, one of DRC’s largest copper companies, Glencore, and the emerging entity of Kobold, a Jeff Bezos and Bill Gates based mining exploration startup. Copper's demand is predicated on numerous items, including artificial intelligence related infrastructure build, telecommunications and building materials, amongst others.
The new management that will drive value creation are driven by Andrew Groves, whose previous strategic exits in resources on the African continent include: Founder and CEO of CAMEC PLC, a cobalt and copper producer in the DRC that sold to ENRC for a billion dollar exit, Founder and CEO of African Platinum PLC, that sold to Impala Platinum for $900mm, and the founder of Central African Gold that sold to New Dawn for $300mm. Aldo Cesano, who intends to join the Board of Directors of the company, brings over 40 years of experience in mining and logistics development across the DRC, Zimbabwe and Southern Africa. Andrew’s team will succeed as management in entirety post close of Transaction.
The stock-based transaction will create a copper exploration company, with a focus on creating value around Africa and DRC specifically focused on under explored basins of copper. On closing of the Transaction, the Company is expected to change corporate name, domicile, and trading symbol to reflect the nature of the new operations, and apply for an uplisting to the NASDAQ exchange, subject to regulatory approval. As part of the closing of the transaction, AFDG is expected to issue shares to SOCIETE GRABIN MINING SAS. The Transaction is expected to result in the existing AFDG shareholders retaining a minority ownership of the Company. AFDG is aiming to close the Transaction in Q4 2025, subject to due diligence and financing contingency.
On August 27, 2025, the United States government added copper to its draft list of strategic metals. According to veteran energy historian Daniel Yergin,” only one metal represents the linchpin of the energy transition away from fossil fuels, with copper as that fundamental mineral that’s required for all aspects of the energy transition, including electric vehicles and batteries, charging infrastructure and the wires that comprise the grid itself, require more copper than the technologies used to produce energy from fossil fuels”. Current estimates that copper supply needs to double by 2035 — from the current 25 million metric tons per year to a record 50 million metric tons per year. The International Energy Agency (IEA) expects the supply-demand disparity to persist until 2050.
While the east of the DRC is relatively unexplored, prior to the independence of Zaire the Belgian’s had planned on building rail infrastructure from Kisangani to Goma, Bukavu and Bunia to export copper, tungsten, tin and other minerals and agricultural products from the region, plans that adjusted post independence. Traditionally, large mining companies have focused on Katanga province for copper and cobalt, given proximity to export markets and Southern African ports. Logistics are a key component to the project in the Eastern DRC, with the Consortium of Toha and Bulongo Logistics starting works on the Kisangani to Bukavu route via Lubutu (Asphalt road) towards the end of 2025. The consortium will fund the construction from 60% of the proceeds from the Kolwezi to Solwezi toll road project with a new border at Kasabinda, which should be completed by third quarter of 2026.
AFDG Chairman and Founder, Alan Kessler, who is expected to retain a role as a Director of the company post close of transaction, stated, “We are highly enthusiastic to move forward with such a promising Transaction for our company and our shareholders. Numerous tailwinds are expected to drive dramatic value creation, in conjunction with a high correlation to gold price at an all-time high and an easing US Federal reserve, Artificial Intelligence related infrastructure build, meets the energy transition, finds an emerging DRC. The confluence and timing of all of these global factors on the demand side, and constrained supply, ensures the highly promising nature of this opportunity.”
EAS Advisors LLC have been appointed as the corporate advisor for the Company on the Transaction.
About Butembo Copper Project
Butembo is a near surface, low strip, Tier one exploration opportunity, located near the Ruwenzori mountain location of Uganda’s biggest copper mine (Kilembe with 4 million tons of verified reserves), located only 50km from the Ugandan border with verified access to rail. The High-grade copper samples thus far have returned 18% Copper assays, which if maintained at production would rank amongst the highest globally.
About African Discovery Group
African Discovery Group, Inc., is a Delaware corporation, dedicated to the development of the African continent. AFDG’s wholly-owned subsidiary, ADG Subsidiary Corp., is a Delaware corporation (“ADG”). AFDG’s primary businesses from which it intends to generate revenues in the future, include agriculture/sustainability, power, media, strategic minerals, and finance sectors on the African continent. The Company, through its wholly-owned subsidiary, is committed to all aspects of environmental, social and governance issues in its business.
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24 September
Copper Prices Up as Freeport-McMoRan Announces Force Majeure at Grasberg
Copper prices rose on Wednesday (September 24) after Freeport-McMoRan (NYSE:FCX) announced that operations will remain halted at its Grasberg copper-gold mine in Indonesia.
The mine was shut down on September 8 following the ingress of 800,000 metric tons of wet material, which trapped seven workers. The bodies of two workers have since been recovered, and the search for the remaining five is ongoing.
In Wednesday's release, Freeport-McMoRan stated that it is investigating the cause of the incident, noting that it is unprecedented in the history of operations at the Grasberg block-cave site.
It is expected that the investigation will be completed by the end of 2025.
Due to the mine's closure, Freeport has adjusted its guidance, reporting that third quarter consolidated sales will be 4 percent lower for copper and 6 percent lower for gold compared to its July estimates.
Furthermore, Grasberg's closure means sales from the mine during the fourth quarter will be insignificant; the company previously forecast the sale of 445 million pounds of copper and 345,000 ounces of gold.
The Grasberg site encompasses several underground mines: the Grasberg block cave, the Deep Mill Level Zone (DMLZ) and Big Gossan. DMLZ and Big Gossan were not affected, and could restart production in the fourth quarter.
However, according to Freeport-McMoRan, a preliminary assessment indicates a delayed restart of operations at the Grasberg block cave, resulting in the deferral of significant production in the near term. A ramp up in this area is not anticipated to begin until the first half of 2026, with the mine potentially returning to full production in 2027.
Grasberg is one of the world’s largest copper and gold mines, producing 1.7 billion pounds of copper and 1.4 million ounces of gold annually. Freeport holds a 49 percent interest, with the Indonesian government owning the rest.
The announcement caused copper prices to spike nearly 5 percent in trading on Wednesday, climbing to US$4.84 per pound on the COMEX and US$9,900 per metric ton on the London Metal Exchange.
Freeport’s share price tumbled 16.95 percent in trading, closing the session at US$37.67 after opening at US$41.66.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
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