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Sirios Completes Acquisition Of OVI Mining Corp

Combined company is well-capitalized with an exceptional management team and portfolio of gold assets in the Eeyou Istchee James Bay region

Sirios Resources Inc. (TSXV: SOI,OTC:SIREF) (OTCQB: SIREF) (‘Sirios’) and OVI Mining Corp. (‘OVI’) are pleased to announce the completion of their previously announced business combination by way of a court approved plan of arrangement under the Business Corporations Act (British Columbia) (the ‘Transaction’). Under the Transaction, Sirios acquired all of the common shares of OVI (each, an ‘OVI Share’) outstanding immediately prior to the effective time of the Transaction, which resulted in OVI becoming a wholly-owned subsidiary of Sirios.

Following completion of the Transaction, each former holder of OVI Shares is entitled to receive 2.34 common shares of Sirios (each, a ‘Sirios Share‘) in exchange for each common share of OVI held immediately prior to the effective time of the Transaction.

Concurrent with the completion of the Transaction, Jean-Félix Lepage has been appointed Chief Executive Officer of Sirios, replacing Sirios founder, Dominique Doucet, who will transition to Executive Chairman and Head of Exploration. In addition, Sean Roosen and Laurence Farmer have joined the board of directors of Sirios (the ‘Board‘), adding deep Québec mining and capital markets expertise to the Sirios team.

Mr. Lepage has over 15 years of experience in mining and managing operations, projects, and development activities. Prior to becoming CEO of OVI, he was Vice-President of Projects at O3 Mining Inc., where he led the Marban Project though the study and development process. His past experience also includes several different operational roles at Newmont Corporation, including managing the underground operations at the Eleonore Mine. Mr. Lepage obtained his Bachelor of Mining Engineering from Université Laval and holds a college technical degree in mineral processing from CEGEP de Thetford.

Jean-Félix Lepage, incoming CEO of Sirios, stated: ‘I am honoured to lead Sirios Resources as we enter this exciting new chapter. The combination of Sirios and OVI creates a stronger, well-capitalized company with an exceptional portfolio of gold assets in the Eeyou Istchee James Bay region. I look forward to working with our talented team and newly strengthened board to advance our exploration and development programs and deliver value for our shareholders.’

Dominique Doucet, former CEO of Sirios, stated: ‘After founding and leading Sirios for many years, I am proud to see the company take this significant step forward. This transaction brings together two complementary teams and asset portfolios, strengthening our position in the James Bay gold camp. In my new role as Executive Chairman and Head of Exploration, I remain deeply committed to Sirios and look forward to focusing my efforts on advancing our exploration programs and supporting Jean-Félix and the team in building on the foundation we have established.’

Board of Directors

The Board is led by Executive Chairman Dominique Doucet, and now includes Sean Roosen and Laurence Farmer, as well as Robert Ménard, Colinda Parent and Guy Le Bel. Luc Cloutier has resigned from the Board. Sirios would like to express its sincere gratitude for his years of service.

Dominique Doucet, former CEO of Sirios, stated: ‘On behalf of the Board, I would like to recognize and express my profound gratitude for Luc’s unwavering commitment and dedication to Sirios since its founding in 1994. Luc’s contributions have left an lasting mark on Sirios, and his legacy will continue to shape our path forward. On behalf of the entire Sirios team, we extend our heartfelt appreciation and wish him every success in his future endeavours.’

Mr. Roosen is the founder and Executive Chairman of Osisko Development Corp., and former CEO of OR Royalties Inc. As founder, President, Chief Executive Officer, and Director of Osisko Mining Corporation, Mr. Roosen was responsible for developing the strategic plan for the discovery, financing, and development of the Canadian Malartic mine. Recognized as one of the ‘Top 20 Most Influential Individuals in Global Mining,’ in 2017, he brings unmatched industry vision and strategic leadership.

Mr. Farmer is the General Counsel and VP Strategic Development of Osisko Development Corp. and the Chief Executive Officer of Electric Elements Mining Corp., prior to which he was Senior Counsel of OR Royalties Inc. Prior to joining the Osisko Group, Mr. Farmer worked in investment banking at RBC Capital Markets in London and, before that, practiced as a corporate lawyer with Norton Rose Fulbright LLP in London, England and Montréal, Canada, and brings strong transactional expertise and strategic insight into global resource development.

Information for Former OVI Shareholders

To receive the Sirios Shares to which they are entitled under the Transaction, former registered shareholders of OVI must complete, sign, date and return the letter of transmittal mailed to each OVI shareholder prior to closing. The letter of transmittal is also available on SEDAR+ (www.sedarplus.ca) under OVI’s issuer profile. Former shareholders whose OVI Shares are registered in the name of a broker, investment dealer, bank, trust company or other intermediary should contact that intermediary for assistance in depositing their OVI Shares and follow its instructions.

The Transaction was unanimously approved by shareholders of OVI at a special meeting held on February 18, 2026 (the ‘Meeting‘). Further information about the Transaction is set forth in the joint news release of Sirios and OVI dated December 11, 2025 and the management information circular prepared by OVI in respect of the Meeting which was mailed to shareholders of OVI and filed on SEDAR+ (www.sedarplus.ca) under OVI’s issuer profile.

OVI has applied to cease to be a reporting issuer under applicable Canadian securities laws.

Pursuant to the Transaction, Sirios will issue an aggregate of 131,905,594 Sirios Shares. All 1,866,000 options to purchase OVI Shares outstanding immediately prior to the effective time of the Transaction, whether or not vested, were exchanged for 4,366,440 options to acquire Sirios Shares, with an exercise price equal to approximately $0.05641 per Sirios Share, subject to rounding on the exercise thereof in accordance with the plan of arrangement and which expire on November 1, 2030.

OVI owns a portfolio of properties located in the James Bay region of Québec, including a 100% interest in the Corvet Est and PLEX gold projects. Certain of OVI’s properties are subject to royalties and contingent cash payments, which have been assumed indirectly by Sirios as a result of the Transaction.

Early Warning Disclosure

Prior to the completion of the Transaction, Sirios held no OVI Shares. Following the completion of the Transaction, Sirios holds all of the issued and outstanding OVI Shares. An early warning report will be filed by Sirios on SEDAR+ (www.sedarplus.ca) under OVI’s issuer profile in accordance with applicable securities laws. To obtain a copy of the early warning report, please contact the CEO of Sirios 438-454-5636 or info@sirios.com. Sirios’s head office is located at 1400 Marie-Victorin, Bureau 210, Saint-Bruno-de-Montarville, Québec, J3V 6B9.

Advisors and Counsel

Bennett Jones LLP acted as legal counsel to OVI in connection with the Transaction. Mills Dunlop Capital Partners acted as financial advisor to OVI.

Stein Monast LLP acted as legal counsel to Sirios in connection with the Transaction.

About Sirios Resources Inc.

Sirios Resources Inc. (TSXV: SOI,OTC:SIREF) (OTCQB: SIREF) (www.sirios.com) is a Québec-based mineral exploration company focused on developing its portfolio of high-potential gold properties in the Eeyou Istchee James Bay region of Canada.

For more information, please contact:

Sirios Resources Inc.
Jean-Félix Lepage, CEO
438-454-5636
info@sirios.com
www.sirios.com

OVI Mining Corp.
Jean-Félix Lepage, CEO
438-454-5636
jflepage@ovimining.com
www.ovimining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as ‘expects’, or ‘does not expect’, ‘is expected’, ‘anticipates’ or ‘does not anticipate’, ‘plans’, ‘budget’, ‘scheduled’, ‘forecasts’, ‘estimates’, ‘believes’ or ‘intends’ or variations of such words and phrases or stating that certain actions, events or results ‘may’ or ‘could’, ‘would’, ‘might’ or ‘will’ be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

In this news release, forward-looking statements relate to, among other things, statements regarding: the anticipated benefits of the Transaction, including potential synergies resulting from combining Sirios and OVI and the creation of a stronger, well-capitalized company; the enhanced portfolio of gold assets in the Eeyou Istchee James Bay region; the expected advancement of exploration and development programs; the ability to deliver value for shareholders; future exploration results and the potential for resource growth; the expectations for the combined entity’s board, management team and operations; the roles and responsibilities of management, including those of Mr. Lepage, Mr. Doucet, Mr. Roosen and Mr. Farmer; the filing of an early warning report and the ceasing of OVI’s status as a reporting issuer; and any other statements that are not historical facts.

Forward-looking statements are based on certain assumptions and analyses made by Sirios and OVI in light of the experience and perception of historical trends, current conditions, and expected future developments, and other factors they believe are appropriate. These forward-looking statements are not guarantees of future results and involve risks and uncertainties that may cause actual results to differ materially from the potential results discussed in the forward-looking statements.

Risks and uncertainties that may cause such differences include, but are not limited to: fluctuations in the price of gold and other commodities; general economic, market and business conditions; the inherent risks associated with mineral exploration, development and mining operations; risks relating to the integration of Sirios and OVI and the realization of anticipated benefits from the Transaction; the volatility of the capital markets and market conditions in general; changes in national and local government legislation, taxation, controls and regulations; environmental risks and hazards; the speculative nature of mineral exploration; risks associated with obtaining and maintaining necessary licences, permits and authorizations and complying with permitting requirements; title matters; community and Indigenous relations; uncertainty in the estimation of mineral resources; competition for, among other things, capital, undeveloped lands and skilled personnel; risks relating to insufficient funding and the requirement for additional capital; risks relating to climate change and extreme weather events; the reliance on key personnel; the potential for conflicts of interest among certain officers and directors; and the other risks described in the continuous disclosure documents of Sirios filed with the Canadian securities regulatory authorities available on SEDAR+ at www.sedarplus.ca.

Sirios and OVI believe that the expectations reflected in forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. As such, readers should not place undue reliance on the forward-looking statements and information contained in this news release. These forward-looking statements are made as of the date of this news release and, except as required under applicable securities legislation, Sirios and OVI assume no obligation to update or revise them to reflect new events or circumstances.

Neither the 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/285631

News Provided by TMX Newsfile via QuoteMedia

This post appeared first on investingnews.com

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UK Enters Commercial Lithium Production with Geothermal Plant Launch

The UK has entered commercial lithium production for the first time as Geothermal Engineering Ltd (GEL) began operations in its plant at Cornwall, anchoring the government’s hopes of a domestic battery metals supply chain.

The Redruth-based facility marks the country’s first commercial-scale output of lithium, a metal essential for electric vehicle batteries and energy storage systems.

Initial production is set at 100 tons per year, with plans to expand to 1,500 tons annually within several years and to more than 18,000 tons over the next decade. That long-term expansion would require an estimated £640 million, or around US$860 million, in additional investment.

Beijing’s use of export restrictions on critical materials last year further sharpened the country’s concerns about supply vulnerability. China currently controls about 60 percent of global lithium processing capacity and dominates much of the downstream battery supply chain.

The UK government has set a target to produce 50,000 tons of lithium domestically by 2035. Demand is expected to surge as electric vehicle adoption expands and grid-scale energy storage grows.

GEL’s project combines lithium extraction with geothermal energy production. The company has drilled nearly three miles underground into granite formations in Cornwall, circulating mineral-rich fluids that are both hot enough to generate electricity and contain dissolved lithium.

The geothermal plant, also switched on this week, will power the lithium extraction process. The excess electricity is also expected to generate enough electricity to supply up to 10,000 homes.

GEL founder Ryan Law said pairing lithium production with geothermal power is critical to cost control. “We can easily compete with what’s coming from China,” Law told the Financial Times.

The project has cost approximately US$67.5 million so far, funded through private investors and US$20.25 million from the European Development Fund. The UK government also provided a US$2.43 million grant, covering half the cost of the initial lithium extraction system.

Cornwall has emerged as the center of Britain’s lithium ambitions. Several companies are working to bring projects online, though timelines have shifted amid volatile lithium prices.

For instance, Cornish Lithium, which has been producing small quantities of lithium hydroxide samples for potential customers since October and is targeting a commercial plant by 2029, had reduced its 2030 production target from 25,000 tons annually to 20,000 tons.

Meanwhile, British refiner Green Lithium has also pushed back the opening of its Teesside commercial facility to around 2029, adopting what co-founder Guy Hatcher called a “more phased development strategy.”

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

This post appeared first on investingnews.com

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Juggernaut Exploration Announces Bought Deal Private Placement Structured Flow-Through Financing for Gross Proceeds of C$10M

(TheNewswire)

Toronto, Ontario TheNewswire – February 27, 2026 Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCPK: JUGRF) (FSE:4JE) (the ‘Company’ or ‘Juggernaut’) is pleased to announce that it has entered into an agreement with Stifel Canada (the ‘Underwriter’) to act as sole bookrunner and underwriter in connection with a ‘bought deal’ private placement offering by the Company of 3,906,250 units of the Company (the ‘Units’) at an issue price of

$2.56 per Unit (the ‘Offering Price‘), for aggregate gross proceeds of $10,000,000 (the ‘Offering‘). Each Unit will be comprised of one common share (a ‘FT Share‘), and one-half of one common share purchase warrant (each whole warrant, a ‘Warrant‘). Each Warrant shall entitle the holder thereof to purchase one common share in the capital of the Company at an exercise price of $2.08, for a period of 24 months following the Closing Date (as defined below). The FT Shares and Warrants are intended to qualify as ‘flow-through shares’ as defined in subsection 66(15) of the Income Tax Act (Canada) (the ‘Tax Act‘).

 

The Company has granted the Underwriter an option to sell such number of additional Units as is equal to 15% of the number of Units sold under the Offering at the Issue Price (the ‘Underwriter’s Option‘). The Underwriter’s Option will be exercisable, in whole or in part, at any time up until 48 hours prior to the closing date of the Offering (the ‘Closing Date‘).

 

The Offering is expected to close on or about March 19, 2026, and is subject to certain conditions including the receipt of all necessary approvals such as the approval of the TSX Venture Exchange (the ‘Exchange‘).

The gross proceeds from the Units will be used to incur exploration expenses that qualify as ‘Canadian exploration expenses’ as defined in subsection 66.1(6) of the Tax Act, ‘flow-through critical mineral mining expenditures’ as defined in subsection 127(9) of the Tax Act for purposes of the mineral exploration tax credit, and for individual subscribers of Units that are resident in British Columbia, ‘BC flow-through mining expenditures’ as defined in subsection 4.721(1) of the Income Tax Act (British Columbia) (the ‘Qualifying Expenditures‘) on the Company’s flagship Big One Gold Project, located in British Columbia, Canada. Such expenses will be incurred on or before December 31, 2027, and renounced to the subscribers with an effective date no later than December 31, 2026.

 

In connection with the Offering, certain purchasers of Units intend to subsequently (i) donate some or all of such Units to registered charities, who may sell such Units to purchasers arranged by the Underwriter, and/or (ii) sell some or all of such Units to purchasers arranged by the Underwriter, in each case on the Closing Date (such Units described in (i) and (ii), being the ‘Re-Offer Units‘). Sales of Re-Offer Units may be made to purchasers located in (i) each of the provinces of Canada, other than Quebec, pursuant to the Listed Issuer Financing Exemption (as defined below), (ii) the United States pursuant to available exemptions from the registration requirements of applicable United States securities laws, and (iii) such other jurisdictions provided it is understood that no prospectus filing or comparable obligation, ongoing reporting requirement or requisite regulatory or governmental approval arises in such other jurisdictions

 

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (‘NI 45-106‘), the Units will be offered for sale to purchasers resident in Canada

and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the ‘Listed Issuer Financing Exemption‘). As the Offering is being completed pursuant to the Listed Issuer Financing Exemption, the securities underlying the Units issued pursuant to the Offering will not be subject to a hold period pursuant to applicable Canadian securities laws. There is an offering document related to the Offering that can be accessed under the Company’s issuer profile on SEDAR+ at www.sedarplus.ca and on the Company’s website at juggernautexploration.com. Prospective investors should read the offering document before making an investment decision.

 

In consideration for the services provided to the Company in connection with the Offering, the Underwriter will be entitled to receive a cash commission equal to 6.0% of the gross proceeds raised under the Offering (the ‘Cash Commission‘) and such number of broker warrants (‘Broker Warrants‘) as is equal to 6.0% of the number of Units sold under the Offering (including the Underwriter’s Option). Each Broker Warrant will entitle the holder thereof to acquire one common share of the Company at a price of C$1.81 for a period of 24 months following the closing date of the Offering. For the avoidance of doubt, the Cash Commission will be paid from the Company’s cash on hand and not from the gross proceeds received by the Company under the Offering.

 

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the ‘1933 Act‘) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

 

Juggernaut Attending The PDAC

To learn more about Juggernaut’s exciting new Big One discovery, we would like to cordially invite you to visit us at the PDAC, where our entire technical team will be in attendance at booth # 3232, Investors Exchange South Building, Sunday, March 1st, until Wednesday, March 4th, adjacent to our sister company, Goliath Resources. The PDAC is held at the Metro Toronto Convention Centre at 255 Front Street West, Toronto.

PDAC provides a unique venue at the world’s premier mining convention for Juggernaut to showcase its exciting new discovery at the Big One Property located in the Golden Triangle of B.C. The latest discoveries from around the world are featured along with maps, charts, and technical information.

 

About Juggernaut Exploration Ltd.

 

Juggernaut Exploration Ltd. is an explorer of precious metals projects in the prolific Golden Triangle of northwestern British Columbia. Its projects are located in globally recognized geological settings and in geopolitically stable jurisdictions, making them amenable to mining in Canada. Juggernaut is a member and active supporter of CASERM, a collaborative venture between the Colorado School of Mines and Virginia Tech. Juggernaut’s key strategic cornerstone shareholder is Crescat Capital.

For more information, please contact:

Juggernaut Exploration Ltd.

Dan Stuart

Chief Executive Director, Director Tel: +(604) 559-8028

www.juggernautexploration.com

This press release contains statements that constitute ‘forward-looking information’ (‘forward-looking information‘) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as ‘expects’, or ‘does not expect’, ‘is expected’, ‘anticipates’ or ‘does not anticipate’, ‘plans’, ‘budget’, ‘scheduled’, ‘forecasts’, ‘estimates’, ‘believes’ or ‘intends’ or variations of such words and phrases or stating that certain actions, events or results ‘may’ or ‘could’, ‘would’, ‘might’ or ‘will’ be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. Forward-looking statements in this news release include statements regarding the Offering (including the completion of the Offering on the terms and timeline as announced or at all, the tax treatment of the securities comprising the Units, the timing to incur and renounce all Qualifying Expenditures in favour of the subscribers, and the use of proceeds of the Offering), and the Company’s ability to obtain all regulatory approvals, including the approval of the Exchange. In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include but are not limited to: compliance with extensive government regulations; domestic and foreign laws and regulations adversely affecting the Company’s business and results of operations; and general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.

Neither the 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.

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Copyright (c) 2026 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

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Trump’s Iran ultimatum enters decisive stretch after State of the Union

President Donald Trump has drawn his line. Now the clock is running.

After publicly giving Iran roughly 10 days to 15 days to reach a nuclear agreement, Trump used his State of the Union address to make clear the deadline is backed by force. 

‘I will never allow the world’s number one sponsor of terror … to have a nuclear weapon,’ he told lawmakers Tuesday night.

The president first outlined the short timeline Feb. 19, saying the world would know within ‘probably 10 days’ whether Tehran was prepared to strike what he called a meaningful deal. 

‘I would think that would be enough time — 10, 15 days, pretty much maximum,’ Trump said, warning that absent an agreement, ‘it’s going to be unfortunate for them.’

On Tuesday, he reinforced the pressure from the House chamber, telling Congress negotiations are underway, but Iran has not met his core condition. 

‘We are in negotiations with them,’ Trump said. ‘They want to make a deal, but we haven’t heard those secret words: ‘We will never have a nuclear weapon.”

He also pointed back to the 2025 U.S. strike on Iranian nuclear infrastructure, describing Operation Midnight Hammer as having ‘obliterated Iran’s nuclear weapons program.’ 

After that operation, he said, Tehran was warned ‘to make no future attempts to rebuild its weapons program,’ adding that Iran is now ‘starting it all over again.’

The combination of a defined diplomatic window and a public reminder of U.S. military action marks a sharper phase in the standoff, as talks in Geneva unfold under mounting pressure.

Trump has not detailed what specific action would follow if Iran refuses his terms. But he told reporters in mid-February that if a meaningful agreement does not materialize, ‘bad things will happen,’ and acknowledged he is considering further steps.

With the State of the Union complete and the president’s timeline already in motion, the coming days are likely to determine whether the administration secures a nuclear concession — or shifts toward a more confrontational path in the Middle East.

The diplomatic ultimatum is underscored by the largest assembly of U.S. naval power in the Middle East since the 2003 invasion of Iraq. 

The world’s most advanced aircraft carrier, the USS Gerald R. Ford, arrived at Souda Bay, Crete, Monday. The Ford joined the USS Abraham Lincoln, which has been conducting 24-hour flight operations in the Arabian Sea since late January.

Between the two strike groups, the U.S. now commands a fleet of 14 major warships, including nine Arleigh Burke-class destroyers armed with Tomahawk cruise missiles.

Meanwhile 12 U.S. F-22 Raptor stealth fighters touched down at Ovda Airbase in southern Israel. 

As national security analyst Joe Funderburke noted in the Small Wars Journal, ‘The F-22 is not a simple show-of-force aircraft. It is designed to suppress enemy air defenses and protect penetrating strike platforms like the B-2 Spirit bomber, the same combination used to devastate Iran’s deeply buried nuclear facilities at Fordow and Natanz nine months ago.’

The president’s reminder of Operation Midnight Hammer — which utilized B-2 bombers to drop 30,000-pound ‘bunker buster’ munitions — serves as the tactical blueprint for what follows the current deadline. 

While the 2025 operation was a ‘surgical’ surprise strike, the current buildup suggests a far broader mission set, potentially due to Iran’s threat of an aggressive response. 

Iran’s response to Operation Midnight Hammer was measured and the U.S. had warning. This time, Iran has vowed a more forceful response and says any U.S. troops operating in the Middle East could be open targets. 

Amid his sharper diplomatic timeline, Trump also asserted that Iranian authorities had killed some 32,000 protesters in weeks of demonstrations that began in early January — a number far above independent estimates and Tehran’s own death toll. 

‘Just over the last couple of months with the protests, they’ve killed at least, it looks like, 32,000 protesters — 32,000 protesters in their own country,’ the president said. ‘They shot them and hung them.’ 

Administration officials have signaled that any agreement would require Iran to halt all uranium enrichment and provide verifiable guarantees that its program cannot be reconstituted — terms Iran repeatedly has objected to.

Both Washington and Iran appear to believe the other is bluffing. 

Trump has framed the timeline as a final opportunity for diplomacy backed by overwhelming force. Iranian leaders, meanwhile, have publicly dismissed U.S. threats and warned that any strike would trigger retaliation against American forces and regional allies.

Still, U.S. negotiators will meet with Iranian envoys once again in Geneva Thursday.

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FBI subpoena of phone records leaves Trump chief of staff ‘in shock’: report

White House Chief of Staff Susie Wiles was reportedly in shock after hearing that the FBI under former President Joe Biden subpoenaed her and current FBI Director Kash Patel’s phone records in 2022 and 2023.

Wiles — who ran President Donald Trump’s 2024 campaign — reportedly told associates, ‘I am in shock,’ Axios reported on Thursday.

Reuters first disclosed the subpoenas, which were issued during the Biden administration, while special counsel Jack Smith was investigating Trump’s efforts to overturn the 2020 election and his handling of classified documents at Mar-a-Lago.

The subpoenaed toll records included phone numbers and the dates and times of calls, but not the content of the conversations, Fox News has learned.

Smith eventually charged Trump in 2023 with multiple felony offenses related to alleged efforts to challenge the results of the 2020 election and his handling of documents. The election interference case was later dismissed by a federal judge after Smith moved to drop it following Trump’s reelection. Smith also dropped the Justice Department’s appeal of a separate ruling that dismissed the classified documents case. Trump has denied any wrongdoing in both matters.

In 2023, the FBI recorded a phone call between Wiles and her attorney, two FBI officials told Fox News. Additionally, the officials said that Wiles’ attorney was aware that the call was being recorded and consented, but the now-White-House-chief-of-staff did not.

‘It is outrageous and deeply alarming that the previous FBI leadership secretly subpoenaed my own phone records — along with those of now White House Chief of Staff Susie Wiles — using flimsy pretexts and burying the entire process in prohibited case files designed to evade all oversight,’ Patel, the current FBI director, told Fox News on Wednesday.

Patel has said that he recently ended the FBI’s ability to categorize files as ‘Prohibited.’

At least 10 FBI employees were also fired Wednesday, Fox News was told. Names were not given due to privacy reasons. 

Eric Daugherty, assistant Chief Content Officer for RightLine, an offshoot of Florida’s Voice, applauded the firings, telling Patel to ‘keep purging.’ Additionally, conservative influencer Nick Sortor wrote on X that ‘The amount of ROT in the FBI is INSANE.’

The FBI Agents Association (FBIAA) later issued a scathing statement criticizing the firings.

‘The FBIAA condemns today’s unlawful termination of FBI Special Agents, which — like other firings by Director Patel — violates the due process rights of those who risk their lives to protect our country,’ the organization said in a statement. ‘These actions weaken the Bureau by stripping away critical expertise and destabilizing the workforce, undermining trust in leadership and jeopardizing the Bureau’s ability to meet its recruitment goals — ultimately putting the nation at greater risk.’

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Dem senator puts Trump on notice over ‘unlawfully collected’ tariff funds after Supreme Court loss

A Senate Democrat is demanding that the Trump administration refund billions in tariff revenue to Americans following last week’s Supreme Court decision, according to a letter first obtained by Fox News Digital.

Sen. Ruben Gallego, D-Ariz., wrote in a letter to President Donald Trump charging that he was concerned over the White House’s ‘lack of action’ to issue refunds to families and small businesses impacted by tariffs.

His appeal to the president comes after the Supreme Court ruled in a 6-3 decision last week that Trump’s use of the International Emergency Economic Powers Act (IEEPA), the law undergirding his sweeping duties, ‘does not authorize the President to impose tariffs.’

‘The invalidation of these IEEPA tariffs is a chance to make American families and small businesses whole — not to retain unlawfully collected funds or enable additional corporate profit,’ Gallego wrote.

Gallego’s letter comes as Congress wrestles with its next move on tariffs and as Trump has vowed to sidestep lawmakers in his quest to continue levying duties on other countries.

Some Republicans want to see Trump’s tariffs considered through budget reconciliation — the same party-line move used to pass his ‘big, beautiful bill’ last year — to meet the deliberative parameters established in the court’s decision.

Others think Trump doesn’t need to come to Congress. The president already moved to reinstate 10% tariffs that are set to last for 150 days and will require lawmakers to weigh in on continuing them.

Several congressional Democrats want to see the administration tender full refunds from the billions raked in under Trump’s tariffs — 25 Senate Democrats back a newly introduced bill led by Sen. Ron Wyden, D-Ore., to refund all duties with interest.

And Gallego specifically wants guardrails to ensure that money ends up in the hands of families and small businesses.

‘Absent action from this administration, over $100 billion in tariff revenue collected under those unlawful tariffs will not make it into the hands of American families and small businesses but instead will remain either in government coffers or in corporate accounts,’ Gallego wrote.

Since the start of the current fiscal year in October, Trump’s IEEPA tariffs are estimated to have generated roughly $155 billion, according to data from the Treasury Department.

He also raised concerns about large corporations taking advantage of the ‘chaotic and expansive nature of the IEEPA tariffs’ to crank up prices on products in response to the duties.

Gallego included several requests of the administration in his letter to be met no later than March 4, including whether the administration will issue tariff refunds, who will be eligible, how much revenue has been collected as of Feb. 20 and whether corporations will be required to disclose tariff costs passed on to consumers, among several others.

He also warned that corporations, armed with the financial firepower to hire ‘high-priced lawyers and lobbyists,’ would have a leg up on Americans without the same means.

‘Without your administration providing a structured process to determine how refunds should be distributed, American families and small businesses will once again be left behind,’ Gallego wrote.

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Trump envoy Witkoff and Jared Kushner in Geneva for closely watched Iran negotiations

Oman’s foreign minister met Thursday in Geneva with President Donald Trump’s envoy Steve Witkoff and son-in-law Jared Kushner, as efforts intensify to reach a new agreement over Iran’s nuclear program.

The minister, Sayyid Badr bin Hamad Al Busaidi, said the talks focused on Tehran’s proposals and perspectives, as well as questions and responses from the U.S. negotiating team regarding key aspects of Iran’s nuclear program and the guarantees required for a potential agreement.

‘His Excellency the Minister of Foreign Affairs clarified that the efforts are continuing intensively and in a constructive spirit, under the negotiators’ unprecedented openness to new and creative ideas and solutions, while preparing the supportive conditions for progress and reaching a fair agreement with sustainable guarantees,’ the ministry said in a post on X.

The closely watched meeting comes amid heightened regional tensions and a visible U.S. military buildup in the Middle East, including the repositioning of naval assets and additional air defense capabilities.

The USS Abraham Lincoln aircraft carrier and multiple guided-missile destroyers are operating in the Arabian Sea, as well as additional destroyers stationed in the Mediterranean and Red Seas.

Several combat ships are also positioned in the Persian Gulf near Iran’s southern coastline.

U.S. Secretary of State Marco Rubio told reporters on Wednesday that while Trump prefers a diplomatic solution, Washington views Iran as a ‘grave threat’ and remains deeply concerned about both its nuclear ambitions and expanding missile arsenal.

He said the talks in Geneva would be ‘largely focused on the nuclear program’ but warned that Tehran’s refusal to discuss its ballistic missiles poses a major obstacle.

‘Iran possesses a very large number of ballistic missiles, particularly short-range ballistic missiles that threaten the United States and our bases in the region and our partners in the region, and all of our bases in the UAE, in Qatar, in Bahrain,’ he explained. ‘I want everybody to understand that, and beyond just the nuclear program, they possess these conventional weapons that are solely designed to attack America and attack Americans, if they so choose to do so. These things have to be addressed.’

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Thune calls out ‘two Americas’ as Democrats refuse to stand for war heroes, law enforcement at SOTU

The top Senate Republican said the congressional Democrats’ actions during President Donald Trump’s State of the Union showed a jarring disconnect from reality.

As Trump moved through his record-breaking speech, pointing out Olympians, war heroes and others, congressional Democrats largely sat still, refusing to stand. Senate Majority Leader John Thune, R-S.D., contended it was the manifestation of the political divide in Congress.

‘I was, like, watching two Americas,’ Thune said.

Trump challenged congressional Democrats to get out of their seats during the speech, catching them flat-footed in a request that came roughly through the midway mark of his address.

‘I’m inviting every legislator to join with my administration in reaffirming a fundamental principle,’ Trump said. ‘If you agree with this statement, then stand up and show your support: The first duty of the American government is to protect American citizens, not illegal aliens.’

At that moment, like several others throughout the night, Democrats didn’t budge.

‘And clearly, I think you saw in the chamber us as Republicans expressing support,’ Thune said. ‘That contrast, when he asked the question and asked people to stand up and every Democrat was seated, I don’t know how you explain that. We are living, literally, in two Americas.’

Several congressional Democrats opted to skip the speech altogether, either attending counter-programming events in Washington, D.C., or watching from afar.

Some who did attend opted to act disruptively during the State of the Union, like Rep. Al Green, D-Texas, who was escorted out of the chamber for the second year in a row — this time for flashing a sign that read ‘Black people aren’t apes’ — or Reps. Rashida Tlaib, D-Mich., and Ilhan Omar, D-Minn., who shouted insults and rebuttals to Trump as he continued through the night.

Senate Minority Leader Chuck Schumer, D-N.Y., showed up and blasted Trump’s address the next morning.

‘Last night was not America’s State of the Union,’ Schumer said on the Senate floor. ‘It was Donald Trump’s state of delusion. For two long hours, the president stood in the House chamber congratulating himself, inflating his own ego, but offering no solutions to our country’s many problems. He’s in a bubble.’

Thune contended that Democrats’ actions were indicative of their policy positions and charged that what Americans saw was ‘a party that is for open borders, a party that’s for sanctuary cities, a party that is basically the pro-defund law enforcement.’

‘The way the Democrats were reacting to what the president had to say — whoever the president is, Democrat or Republican — you ought to have people who want to do what’s in the best interest of the American people,’ Thune said. ‘And I hope there are still some Democrats around who want to do that.’

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Sankamap Metals to Showcase Solomon Islands Exploration Portfolio at PDAC 2026

Sankamap Metals Inc. (CSE: SCU), a mineral exploration company focused on high-potential gold and copper assets in the Solomon Islands, is pleased to announce its participation in the upcoming Prospectors & Developers Association of Canada (‘PDAC’) Convention in Toronto.

PDAC 2026 will mark one of Sankamap’s first major international investor events, providing an opportunity to introduce the Company’s portfolio and near-term exploration strategy to a global audience. Sankamap is advancing a district-scale land package in the Solomon Islands, an emerging and highly prospective jurisdiction with significant potential for gold and copper discoveries.

The Company is currently preparing for an upcoming drill program on the Kuma Property, focused on defining high-grade targets and advancing priority zones toward discovery. At PDAC, Sankamap will highlight its exploration plans, including drill targeting, timelines, and key catalysts for 2026.

PDAC Convention | March 1-4, 2026
The PDAC Convention is the world’s premier mineral exploration and mining event, bringing together industry leaders, investors, and stakeholders from across the globe. The convention represents a key platform for companies to showcase projects, share technical advancements, and connect with the investment community.

Sankamap Metals will be exhibit at booth 2807 and welcomes investors and industry participants to visit the team learn more about its Solomon Islands portfolio and upcoming catalysts.

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 Newmont’s Lihir Mine¹

1Lihir

Proven and Probable: 23 Moz Au; 310 Mt at 2.3 g/t Au
Indicated: 520 Mt containing 39 Moz Au at 2.3 g/t Au
Measured: 81 Mt containing 5 Moz Au at 1.9 g/t Au
Inferred: 61 Mt containing 4.9 Moz Au at 2.3 g/t Au

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 which returned numerous high-grade copper values, reaching up to 4.09% Cu, and up to 116 g/t Au . 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

Contact Information

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

Krystle Adair, VP Exploration
T: (778) 558-3635
E: krystlea@sankamap.com

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

Forward-Looking Statements

Forward-Looking Statements Certain statements in this release constitute ‘forward-looking statements’ or ‘forward-looking information’ within the meaning of applicable securities laws including, without limitation, the timing, nature, scope and details regarding the Company’s exploration plans and results at its projects. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as ‘may’, ‘would’, ‘could’, ‘will’, ‘intend’, ‘expect’, ‘believe’, ‘plan’, ‘anticipate’, ‘estimate’, ‘scheduled’, ‘forecast’, ‘predict’ and other similar terminology, or state that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved. These statements reflect the Company’s current expectations regarding future events, performance and results and speak only as of the date of this release.

Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the estimation of mineral resources and reserves, the realization of resource and reserve estimates, metal prices, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes and other matters. While the Company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. The Company does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/285369

News Provided by TMX Newsfile via QuoteMedia

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Crypto Market Update: BTC Pumps, Could Still Have Room to Run

Here’s a quick recap of the crypto landscape for Wednesday (February 25) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin (BTC) was priced at US$69,190.26, up by 7.4 percent over the last 24 hours.

Bitcoin price performance, February 25, 2026.

Chart via TradingView

After a “cautiously bearish” start to the week marked by institutional ETF outflows, the market has suddenly flipped green, surging toward the US$70k territory.

Analysts noted a double-bottom technical formation, a pattern that often signals the end of a short-term downtrend.

Amberdata’s recent snapshot highlighted a bullish divergence where stablecoin supply expanded by over US$773 million, creating a dry powder reserve that sidelined cash. Combined with an aggressive short position in the perpetuals market, the stage is set for a classic short squeeze.

Meanwhile, Glassnode analysts noted that a leverage reset was already complete and the market had shifted into an “accumulation backdrop.”

This structural thinning of sell-side pressure essentially created a liquidity vacuum, allowing today’s move to happen with explosive speed once buyers returned.

Crucially, open interest has climbed +1.57 percent in the last four hours and funding rates remain negative at -0.01 percent, indicating that the market isn’t overheated with leveraged buyers yet and that BTC may have more room to run before hitting the resistance at the US$70k- US$82k zone.

Ether (ETH) was priced at US$2,074.84, up by 11.7 percent over the last 24 hours.

Altcoin price update

  • XRP (XRP) was priced at US$1.47, up by eight percent over 24 hours.
  • Solana (SOL) was trading at US$89.75, up by 14.1 percent over 24 hours.

Today’s crypto news to know

Meta reportedly plans to integrate stablecoin payments this year

Anonymous sources for CoinDesk claim that Meta Platforms (NASDAQ:META) is planning to integrate a third-party firm that will enable stablecoin payments across all three of its platforms – WhatsApp, Facebook and Instagram – early in H2, as well as implement a new wallet.

Meta reportedly sent out a request for product to third-party firms. One source mentioned partner Stripe, which acquired stablecoin specialist Bridge in 2025, as a candidate for piloting a potential Meta stablecoin; however, a subsequent Tweet from senior communications executive Andy Stone clarified that Meta is not planning to launch its own stablecoin, but confirmed that the company is exploring opportunities to “(enable) people and businesses to make payments on our platforms using their preferred method.

Coinbase partners with Yahoo Finance

Coinbase (NASDAQ:COIN) has announced the official launch of stock trading for all of its US -based users by partnering with Yahoo Finance. This puts the exchange directly in competition with broker Robinhood, widely considered the leading app-based platform for retail traders

The company is beginning with a selection of the market’s most popular stocks and intends to roll out 24/5 trading for additional companies in the coming months.

By Spring 2026, Coinbase will introduce stock perpetuals for international users. “Looking further ahead, our goal is to offer fully tokenized stocks, creating a seamless, 24/7 global market where your equities can even serve as on-chain collateral,” Coinbase said in its press announcement.

“Our Everything Exchange vision is about removing artificial boundaries between asset classes and building for the next generation of markets. This expansion is a foundational step toward unifying traditional investments and digital assets into a single platform, simplifying portfolio management and unlocking what comes next.”

Circle, Hut 8 report earnings

Hut 8 Mining (TSX:HUT) and Circle (NYSE:CRCL) both released Q4 2025 earnings reports today. Investors sent Circle shares up over 35 percent on the day after revenue exceeded expectations, growing 77 percent year-over-year to US$770.2 million. Earnings per share also far exceeded estimates of US$0.16, coming in at US$0.43.

Circulation of the company’s stablecoin, USDC, reached US$75.3 billion, up 72 percent, with on-chain transaction volume hitting US$11.9 trillion for the quarter.

Meanwhile, shares of Hut 8 closed down 6.57 percent after it reported a net loss of US$301.8 million for the quarter, largely as a result of losses on its BTC holdings of US$220 million. Revenue grew 45 percent year-over-year, driven by its ASIC mining and AI cloud segment.

Bitcoin rally fades during Trump address

Bitcoin briefly pushed above US$66,000 during Asian trading before trimming gains as President Donald Trump delivered his State of the Union address.

The token rose as much as 3.5 percent, its strongest intraday advance since mid-February, before slipping back toward the mid-US$65,000 range as the speech progressed. Ether climbed nearly 5 percent at one point, while Solana and XRP also posted solid early gains before momentum cooled.

The rebound followed a bruising stretch earlier in the week, when a Supreme Court ruling invalidating Trump’s emergency tariff authority and his subsequent move to impose 15 percent global tariffs rattled markets.

Still, caution remains visible in derivatives markets. Nearly US$230 million in put options expiring March 6 are clustered around the US$58,000 strike, according to Deribit data, signaling demand for protection against renewed downside.

Mastercard expands crypto push with new stablecoin, DeFi leadership role

Mastercard (NYSE:MA) is stepping up its digital asset strategy with a new senior hire aimed squarely at stablecoins and decentralized finance. The payments giant is recruiting a Director of Crypto Flows to oversee stablecoin-linked card products, DeFi integrations, and updates to its internal risk and network frameworks.

The move builds on partnerships forged in 2025 with Circle Internet Group (NYSE:CRCL), Paxos, and OKX that enabled spending from crypto wallets and merchant settlement in stablecoins.

The new role will focus in part on allowing users to spend blockchain-based dollars at more than 150 million Mastercard-accepting locations worldwide, while preserving familiar card features such as rewards and cashback. It will also explore connecting Mastercard’s rails to decentralized applications, enabling programmable payments and automated settlement flows.

Canaan buys deeper into Texas mining

Canaan (NASDAQ:CAN) has acquired a 49 percent stake in a joint venture tied to several West Texas Bitcoin mining projects from Cipher Mining (NASDAQ:CIFR) in a US$39.75 million all-stock deal.

The transaction gives Canaan exposure to operations totaling 120 megawatts of energized capacity and roughly 4.4 exahashes per second of hashrate. The sites operate at an average efficiency of about 25.7 joules per terahash, placing them within competitive industry benchmarks.

As part of the agreement, Canaan also acquired 6,840 Avalon A15Pro rigs previously deployed at Cipher’s Black Pearl facility. That site is being converted into an artificial intelligence and high-performance computing data center.

Cipher shares rose more than 6 percent following the announcement, while Canaan gained nearly 8 percent, suggesting investors welcomed the consolidation.

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

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

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