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Crypto Market Update: Strategy Defends Balance Sheet Strength Amid Bitcoin Drawdown

November 27, 2025 Investing 6 Mins Read

Here’s a quick recap of the crypto landscape for Wednesday (November 26) 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 and Ether price update

Bitcoin’s (BTC) price climbed from around US$87K to close at US$89,903.49 on Wednesday afternoon, a three percent increase in 24 hours.

Bitcoin price performance, November 26, 2025.

Chart via TradingView.

However, a 1.55 percent increase in open interest during the same four hour window suggests fresh buying interest, while a positive funding rate of 0.002 reflects modestly bullish market sentiment. A relative strength index of 62.56 for Bitcoin indicates that the asset is in moderately bullish territory but not yet overbought.

Despite optimism of a possible temporary reset, investors warn that a decisive break below US$80,000 could expose Bitcoin to a slide toward the US$69,000 to US$62,000 support range.

As analyst Ted Pillows wrote on X, “$BTC is facing a lot of resistance around the $88,000–$90,000 zone. If BTC doesn’t break above this level soon, expect a sweep of the lows again.”

“Notably, what makes this episode different from past crypto winters is the investor base. BTC is now held by ordinary investors in their mainstream portfolios. So many are treating it like any other high-beta risk asset,’ she said.

“This behavior means that current price action is more of a classic de-risking phase. Rate-cut expectations change quickly, so investors opt for assets they perceive as core ballast. Given that, the picture suggests a complementary reading rather than a simple “either/or.” Gold acts as the insurance that central banks are still actively adding. In turn, Bitcoin is the high-risk component that investors reduce first when volatility rises,’ added Chen.

Meanwhile, Ether (ETH) closed at US$3,025.84, a 3.1 percent increase in 24 hours. ETH also showed strong bullish momentum, with a 2.7 percent rise in open interest and liquidations predominantly on the short side, signaling a short squeeze; however, a positive funding rate of 0.008 underscores traders’ optimism.

Altcoin price update

XRP (XRP) was priced at US$2.22, up by one percent over 24 hours.

Solana (SOL) was trading at US$142.99, up by 3.9 percent over 24 hours.

Today’s crypto news to know

Strategy insists balance sheet holds firm

Strategy (NASDAQ:MSTR) reiterated that its balance sheet can withstand a deep Bitcoin drawdown, telling investors in a recent X post that its collateral coverage would remain at 2.0x even if Bitcoin dropped to US$25,000.

The company disclosed updated calculations showing that its convertible debt remains overcollateralized despite the stock’s 49 percent slide and the risk of an MSCI index removal next year.

With 649,870 BTC — worth roughly US$57 billion — the firm remains the largest corporate holder of Bitcoin globally. Strategy maintains that this overcollateralization gives it room to manage volatility and refinance maturities that run through 2032. Despite the reassurances, the company continues to face pressure from index committees and investors reevaluating the long-term role of a Bitcoin-heavy corporate treasury.

Recently, S&P Dow Jones Indices left Strategy off its latest round of S&P 500 additions, choosing to elevate SanDisk instead despite Strategy’s market capitalization placing it within the top tier of US public companies.

Strategy’s bid for inclusion has been complicated by its reliance on Bitcoin holdings, which some index members argue behaves more like an investment vehicle than a traditional operating company.

For its part, Strategy insists that its software business, alongside its Bitcoin strategy, qualifies it as an operating firm under the index rules. Chairman Michael Saylor pushed back against the characterization, stressing on X that Strategy is “not a fund, not a trust, and not a holding company.”

Japan approves major regulatory shift for crypto under FIEA

Japan’s Financial Services Agency has finalized plans to move digital assets under the Financial Instruments and Exchange Act, marking the country’s most sweeping crypto regulatory overhaul in years.

The shift reclassifies crypto assets as investment products and subjects issuers and exchanges to disclosure and conduct standards similar to those governing securities.

The changes affect over 13 million Japanese crypto accounts that collectively hold more than ¥5 trillion, prompting concerns from local exchanges about higher compliance burdens.

The FSA’s working group outlined new obligations, including clearer disclosure of token supply, governance structures, project risk assessments, and issuer responsibilities.

In addition, exchanges will also be required to maintain reserve funds to cover potential hacking incidents. Regulators plan to crack down on unregistered offshore platforms that continue marketing to Japanese users without approval.

The legislative package is expected to be submitted during the 2026 Diet session.

Bolivia to integrate crypto and stablecoins into financial system

In a historic move, the government of Bolivia is preparing to integrate cryptocurrencies and stablecoins, according to an announcement from the country’s economic minister, Jose Gabriel Espinoza.

“You can’t control crypto globally, so you have to recognize it and use it to your advantage,” Espinoza reportedly said, according to Reuters. With stablecoins like USDT already being used for cross-border payments and as a hedge against the local currency’s depreciation, banks will soon be allowed to custody crypto, as well as offer crypto-based savings accounts, credit cards, and loans.

Spain moves to hike taxes on Bitcoin, Ether

A Spanish parliamentary bloc has introduced new tax amendments that would significantly increase the burden on Bitcoin, Ether, and other non-financial-instrument crypto assets.

The proposal would shift gains from crypto into the general personal income tax base, which carries rates of up to 47 percent — far above the current 30 percent maximum applied to savings-based income.

Lawmakers also want corporate crypto gains taxed at 30 percent and are pushing for a nationwide “traffic light” risk label that would appear on trading platforms.

Tax specialists argue the reforms would be difficult to implement, with some calling the package legally unworkable and likely to generate administrative chaos. Investors are likewise already expressing concern after a recent case in which a trader was taxed 9 million euros on a transaction that produced no profit, highlighting flaws in current enforcement.

If enacted, analysts further warn that the new measures could accelerate capital flight from Spain’s retail crypto market.

Grayscale files to offer Zcash ETF

Grayscale submitted a Form S-3 registration statement to the US Securities and Exchange Commission on Wednesday, signaling the firm’s intention to convert its fund tied to Zcash into a spot exchange-traded fund.

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

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

This post appeared first on investingnews.com

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Crypto Market Update: Altcoin Prices Rise as New XRP ETFs Launch

November 27, 2025 Investing 5 Mins Read

Here’s a quick recap of the crypto landscape for Monday (November 24) 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 and Ether price update

Bitcoin (BTC) was priced at US$89,102.53, up 1.9 percent in 24 hours.

The cryptocurrency is up after last week’s rout, which saw over US$1.2 billion in spot Bitcoin exchange-traded fund (ETF) outflows, marking the third consecutive week with over US$1 billion in outflows, as per SoSoValue.

Bitcoin price performance, November 24, 2025.

Chart via TradingView.

However, market sentiment remains cautious, with the Fear and Greed Index reading 12 at market close. Increased open interest and large short liquidations suggest potential volatility and possible rebound dynamics.

“In the short term, a rebound is highly likely, but if we fall again and lose the US$80,000 level, the probability of facing a much tougher period becomes significantly higher,” CryptoQuant said in a post on X.

Bitcoin’s relative strength index at 58.52 indicates moderately bullish momentum, but is still comfortably below overbought territory. A -0.005 funding rate shows traders are still somewhat bearish, although short liquidations may start to shift momentum upward. Economic data due later this week could lift markets higher if it reinforces expectations of an interest rate cut from the US Federal Reserve. Market odds for a December rate cut have risen recently, with many sources placing the probability at around 70 to 79 percent.

Meanwhile, ETH (ETH) was US$2,973.36, up by 5.1 percent in 24 hours. Liquidations of US$39.75 million, predominantly in short positions, may have fueled upward price pressure through a short squeeze.

Open interest rose 3.07 percent to US$35.93 billion, suggesting increasing trader engagement and speculative activity in Ether derivatives. A funding rate of zero reflects a balance between bullish and bearish sentiment among traders.

Altcoin price update

XRP (XRP) was priced at US$2.26, up by 9.2 percent over 24 hours.

Solana (SOL) was trading at US$138.82, up by 4.7 percent over 24 hours.

Today’s crypto news to know

Cardano chain split, Etherscan API outage highlight DeFi risks

Recent events in the crypto ecosystem have underscored the vulnerabilities and institutional challenges facing DeFi investors. On November 21, Cardano experienced an accidental chain split triggered by a malformed transaction, temporarily dividing the blockchain into two competing chains.

The disruption exposed weaknesses in network resilience and stake pool operations, causing lost block rewards and transaction irregularities in DeFi protocols dependent on Cardano’s network stability.

Then, Etherscan unexpectedly cut off API access to roughly 10 percent of its blockchains and networks. This sudden outage occurred during the DevConnect conference, impairing developers’ ability to manage smart contracts effectively, further revealing how dependent DeFi investors are on the reliability of ancillary infrastructure.

These events came amid growing tensions involving JPMorgan Chase (NYSE:JPM).

The banking giant has drawn ire from the crypto community for reportedly influencing MSCI to exclude digital asset treasury companies holding more than 50 percent of their assets in cryptocurrencies.

JPMorgan’s research warns that the exclusion could trigger forced selloffs potentially totaling up to US$8.8 billion, with Strategy (NASDAQ:MSTR) alone possibly facing US$2.8 billion in outflows.

The final decision will be announced on January 15 ,with changes taking effect in February.

The bank then upgraded ratings on Monday for Bitcoin-mining companies Cipher Mining (NASDAQ:CIFR) and CleanSpark (NASDAQ:CLSK) to overweight from neutral, citing strong momentum in high-performance computing partnerships and long-term cloud and colocation deals that improve revenue visibility.

JPMorgan’s stance highlights the institutional and regulatory tensions complicating the interface between traditional finance and the fast-evolving crypto ecosystem.

Franklin Templeton, Grayscale launch XRP ETFs

The Franklin XRP ETF (ARCA:XRPZ) and the Grayscale XRP Trust ETF (ARCA:GXRP) both launched on Monday, providing new regulated investment options for XRP exposure.

Investor response was prompt, with early trading volumes indicating strong demand and positive sentiment around XRP’s future prospects as reflected in the market’s reception to both ETFs.

Market watchers see this dual launch as a major step toward integrating crypto assets like XRP into traditional finance frameworks, enhancing liquidity and investor confidence.

Ray Youssef, CEO of peer-to-peer crypto app NoOnes, said a wave of altcoin ETF launches could bring a much-needed dose of optimism back into the market if investors interpret new listings as implicit regulatory approval.

“As market sentiment has been so underwhelming in recent times, the ETF season hitting the market at its current condition may be when they can make the most significant contribution to the digital asset economy this year.”

Youssef added that the launch of altcoin ETFs is creating a steady flow of capital into the digital asset market, providing a liquidity buffer. This momentum could lead to an end-of-year rally for altcoins.

Burry debuts newsletter after Scion shutdown

Michael Burry, best known for his prescient bet against the US housing market in 2008, has launched a paid Substack newsletter not long after closing his hedge fund, Scion Asset Management.

In his introductory post, Burry emphasizes that the move does not mark a retirement, but rather a shift toward writing without the regulatory constraints that accompany professional money management.

Priced at US$39 per month, the newsletter has quickly drawn more than 21,000 subscribers.

Early essays revisit his trading history during the dot-com era and outline why he views today’s artificial intelligence boom as a supply-glutted bubble primed for correction.

With Scion now closed, Burry says the newsletter will become his primary outlet for analysis as he continues to track what he views as speculative excess building across technology markets.

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

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

This post appeared first on investingnews.com

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Bert Dohmen: Gold Price Going “Much Higher,” Silver to Play Catch Up

November 26, 2025 Investing 1 Min Read

Bert Dohmen, founder and CEO of Dohmen Capital Research, discusses precious metals.

He believes gold’s fundamentals support ‘much higher prices’ for a number of years, and sees silver doing even better as the US faces down the specter of potential deflation.

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

This post appeared first on investingnews.com

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China’s Rare Earths Crackdown Puts MP Materials in the Spotlight

November 26, 2025 Investing 6 Mins Read

For years, rare earths have been discussed mostly in times of crisis — a supply scare here, a geopolitical flare there. This year, the strategic minerals are again taking center stage as China reasserts control over the sector.

The latest round of rare earths policy shifts has put new attention on how producers outside China are positioning themselves. For MP Materials (NYSE:MP), 2025 has been less about responding to market turbulence and more about testing what a viable, strategically resilient rare earths supply chain could look like beyond China’s dominance.

“We’ve been talking about these issues for many, many years,” CFO Ryan Corbett said during a fireside chat at the Benchmark Week conference in Marina del Rey, California.

“But the export controls in April put everything in stark relief.” The result, he told the audience, has been a level of public and government attention he has “never seen before.”

And the attention is coming at a pivotal moment for the US-based company.

This year marked five years since MP went public, an anniversary the team celebrated by ringing the bell at the New York Stock Exchange, as well as the culmination of several major announcements aimed at strengthening rare earths production, processing and magnet making outside of China.

The long road from mine to magnet

Corbett is the first to admit that the broader conversation around rare earths often oversimplifies the challenge. Headlines usually focus on mining or magnets, but the real bottlenecks, he stressed, live in the middle.

“You don’t magically take NdPr oxide and turn it into a magnet in a magnet factory,” he said. The process includes converting oxide to metal, metal to alloy flake, flake to powder, then pressing, sintering, slicing and grinding. Each step requires specific infrastructure, technical expertise and — perhaps most critically — experience.

Corbett sees this gap clearly in the wake of announcements from companies claiming to have plans for large-scale magnet facilities. “We see all these announcements — ‘We’re going to do a 10,000 ton magnet plant.’ They’ve never made metal before,” he said. “Good luck. It takes time. It takes investment. It takes R&D.”

When MP listed publicly five years ago, it was still producing only rare earths concentrate. The company told investors it would revisit magnet-making discussions around 2025.

Geopolitical urgency pushed MP to accelerate that timeline, leading to the company’s fully integrated US facility in Fort Worth, where metal, alloy and finished magnets are now all made domestically.

“It is critical that we master all of them at scale,” Corbett said. Without that know-how, any new facility will be vulnerable to single-point failures, the same dynamic that has left the industry heavily reliant on China.

Where the real rare earths bottleneck lies

When asked what truly slows down western rare earths supply chain development, Corbett didn’t point to mining. Instead, he pointed to refining, a stage China has dominated for decades.

“China doesn’t have 99 percent of the upstream reserves,” he noted. “They have the refining capacity and capability.”

That distinction is shaping MP’s next major step: a new world-scale refining facility in Saudi Arabia, built in partnership with Maaden and backed by the US Department of Defense (DoD).

The project is designed to process feedstocks from around the world, including materials that are too small, too short-lived or too geographically constrained to justify their own refineries.

Crucially, the new plant is being built with capital from the US government, not MP. “We didn’t want to be putting more capital at risk overseas while we’re fulfilling promises in the US,” Corbett said.

He added that the government wanted the facility built, and MP brought the technical and operational capability; the equity investment from the DoD bridged the gap.

The structure is unusual. According to Corbett, this is the first time since World War II that the DoD has taken an equity stake in a private enterprise. But he argued that the situation demands it.

“From a supply chain and national security perspective, we are that far behind.”

A price floor that reshapes incentives

The DoD’s involvement isn’t limited to the Saudi facility.

This past summer, the department also struck a landmark agreement with MP, establishing a price floor for NdPr oxide, the high-value rare earths ingredient inside permanent magnets.

The deal is “absolutely transformational,” Corbett said.

Rare earths prices have historically been highly vulnerable to sudden moves from China, a fact that has long posed an existential risk to western refiners. “What good is it to invest billions of dollars if the second you turn your refinery on, prices go from US$170 to US$45?” questioned Corbett.

The agreement is structured to avoid distorting the downstream market. MP still sells oxide at market prices; the government covers the difference only when prices fall below the negotiated threshold.

“It doesn’t impact the pricing of our magnets at all,” Corbett explained. “That was really important to us.”

If prices soar — something Corbett says he would welcome — MP would pay the government.

“I hope five years from now I’m being accosted by investors for taking this deal, because prices are so high we’re cutting checks back to the government,” he said.

Apple, recycling and the next phase

Also over the summer, MP announced another milestone — a major partnership with Apple (NASDAQ:AAPL) to source 100 percent recycled rare earth materials for the tech giant’s devices.

Recycling is often framed as a threat to miners. Corbett argues the opposite.

“It’s still a game of scale and expertise in refining,” he said. “It’s just a different feedstock.”

In many ways, recycled magnets are easier to process than raw ore. The challenge is achieving sufficient volume and consistency, something MP believes Mountain Pass is uniquely positioned to enable.

“Integration matters,” Corbett said. By blending recycled materials with the mine’s large, steady feedstock, MP can smooth out the variability inherent in end-of-life magnets.

A new playbook for national resources?

Taken together, MP’s 2025 announcements point toward a broader shift in how western governments approach critical minerals supply chains moving forward. Heavy government involvement through frameworks like equity stakes, price floors and international partnerships may represent a new template.

“This administration is approaching it with the mentality that it’s going to take real dollars to make this happen,” Corbett said. And if its investments pay off, he argued, they could help rebuild an industrial base the US hasn’t had in decades as MP positions itself to offer the full value chain, from mining and refining to producing finished magnets.

“Once the flywheel gets going,” Corbett said, “You’re onto something.”

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

This post appeared first on investingnews.com

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LAURION Extends Drilling into Untested Ground Linking Brenbar and Sturgeon River Mine Corridors at Ishkoday

November 25, 2025 Investing 9 Mins Read

(TheNewswire)

Toronto, Ontario November 25, 2025 TheNewswire – Laurion Mineral Exploration Inc. (TSX.V: LME | OTC: LMEFF) (‘LAURION’ or the ‘Corporation’) is pleased to announce encouraging results from its 7,700-metre Summer 2025 drill exploration program at the 100%-owned Ishkõday Project, located 220 km northeast of Thunder Bay in Greenstone, Ontario. The first five drill results were announced in the Corporation’s press releases dated August 19, 2025 and September 23, 2025, respectively, which targeted the high-grade gold-bearing vein systems of the Sturgeon River Mine area. Reference is also made to the Corporation’s press releases dated September 5, 2025, May 27, 2025 and May 8, 2025.

The reported drill holes below, LME25-063, LME25-064, LME25-065 and LME25-066, total 1,806 m. The holes were designed to evaluate the northeast extension of the mineralized system at the historic Brenbar Mine, with hole LME25-063, and then stepping out to the northeast of the Brenbar historic mine shaft targeting the untested M50 Quartz vein series with further drill holes.

Highlights of Drill Holes LME25-063, LME25-065 and LME25-066

LME25-063 0.7 m @ 2.67 g/t Au from 139.50 m to 140.20 m;
LME25-063 0.5 m @ 1.26 g/t Au from 393.40 m to 393.90 m;
LME25-065 0.50 m @ 1.78 g/t Au from 91.10 m to 91.60 m;
LME25-065 1.80 m @ 0.95 g/t Au from 149.60 m to 151.40 m, including: 0.80 m @ 1.90 g/t Au from 150.60 m to 151.40 m;
LME25-065 0.50 m @ 1.32 g/t Au from 292,30 m to 292.80 m;
LME25-066 1.50 m @ 1.02 g/t Au from 272,50 m to 274.00 m; and
LME25-066 0.70 m @ 2.42 g/t Au and 1.90 Au/t from 389.0 m to 389.70 m.

‘ While these results represent the early stages of testing in a geologically complex corridor, their significance lies in extending our knowledge of mineralization continuity between the historic Brenbar and Sturgeon River Mine areas, ‘ stated Cynthia Le Sueur-Aquin, President and CEO of LAURION. ‘This is the first time drilling has been completed across this untested structural corridor, and it is yielding valuable geological insight with oriented core, that will guide the next phase of our exploration program. Our focus remains on defining the broader mineralized system that links multiple historic mine zones, ultimately positioning Ishkōday as a district-scale gold and base metal opportunity.’

Table of Assays for Drill Holes for LME25-063 to LME25-066

Hole ID	From (m)	To (m)	Core Length (m)	Au (g/t)
LME25-063	11.6	12.1	0.5	0.38
LME25-063	26.80	27.5	0.7	0.87
LME25-063	33.5	34.5	1.0	0.45
LME25-063	47.0	48.0	1.0	0.34
LME25-063	85.0	85.5	0.5	0.91
LME25-063	139.5	140.2	0.7	2.67
LME25-063	144.9	145.5	0.6	0.94
LME25-063	228.4	228.9	0.5	0.58
LME25-063	262.5	264.0	1.5	0.75
LME25-063	251.5	283.0	1.5	0.52
LME25-063	393.4	393.9	0.5	1.26
LME25-064	22.5	23.1	0.6	0.29
LME25-064	55.0	56.0	1.0	0.92
LME25-064	83.0	84.5	1.5	0.20
LME25-064	151.0	152.0	1.0	0.20
LME25-064	218.8	219.3	0.5	0.26
LME25-064	246.0	247.1	1.1	0.23
LME25-064	313.0	313.5	0.5	0.97
LME25-064	331.0	332.0	1.0	0.27
LME25-064	354.0	354.5	0.5	0.25
LME25-064	356.1	356.6	0.5	0.70
LME25-065	5.7	6.2	0.5	0.71
LME25-065	8.0	8.8	0.8	0.31
LME25-065	15.5	17.0	1.5	0.23
LME25-065	40.3	40.9	0.6	0.48
LME25-065	54.5	55.1	0.6	0.23
LME25-065	64.7	65.4	0.7	0.27
LME25-065	75.4	76.0	0.6	0.69
LME25-065	91.1	91.6	0.5	1.78
LME25-065	94.0	95.0	1.0	0.32
LME25-065	149.6	151.4	1.8	0.95
including	150.6	151.4	0.8	1.90
LME25-065	20.08	209.0	1.0	0.44
LME25-065	223.5	224.0	0.5	0.20
LME25-065	235.0	236.0	1.0	0.40
LME25-065	243.5	245.0	1.5	0.29
LME25-065	292.3	292.8	0.5	1.32
LME25-065	309.9	310.4	0.5	0.25
LME25-065	319.7	320.9	1.2	0.21
LME25-065	319.7	320.2	0.5	0.32
LME25-065	365.0	365.5	0.5	0.27
LME25-065	391.2	391.7	0.5	0.22
LME25-065	417.3	417.8	0.5	0.80
LME25-065	487.4	488.2	0.8	0.38
LME25-066	5.46	6.5	1.04	0.21
LME25-066	13.3	14.75	1.45	0.37
LME25-066	85.0	89	4.0	0.26
LME25-066	86.25	87.1	0.85	0.53
LME25-066	117.0	118	1.0	0.67
LME25-066	223.7	225.5	1.8	0.25
LME25-066	251.5	252.1	0.6	0.34
LME25-066	257.4	258.15	0.75	0.46
LME25-066	272.5	274.0	1.5	1.02
LME25-066	303.0	303.5	0.5	0.41
LME25-066	307.8	308.3	0.5	0.94
LME25-066	310.2	310.7	0.5	0.70
LME25-066	324.6	325.1	0.5	0.46
LME25-066	327.4	327.9	0.5	0.93
LME25-066	339.0	340.0	1.0	0.25
LME25-066	389.0	389.7	0.7	2.42
LME25-066	400.0	400.65	0.65	0.84
LME25-066	413.8	414.3	0.5	0.21
LME25-066	465.2	465.8	0.6	0.20

Note: (Intervals represent core length. The interval widths reported are down-hole widths. The true widths of the mineralized zones are not known at this time as there is insufficient information to determine the orientation of the mineralization. True widths are estimated at ~70–90% of reported intervals.)

Drill Hole ID	Azimuth	Dip	Depth (m)
LME25-063	150	-50	435
LME25-064	150	-50	366
LME25-065	150	-50	513
LME25-066	150	-50	492
TOTAL			1,806

Sampling and QA/QC Protocols

All drill core is transported and stored inside the core facility located at the Ishkõday Project in Greenstone, Ontario. LAURION employs an industry standard system of external standards, blanks and duplicates for all of its sampling, in addition to the QA/QC protocol employed by the laboratory. After logging, core samples were identified and then cut in half along core axis in the same building and then zip tied individually in plastic sample bags with a bar code. Approximately five or six of these individual bags were then stacked into a ‘rice’ white material bag and stored on a skid for final shipment to the laboratory.

All core samples were shipped to the ALS facility in Thunder Bay, Ontario, which were then prepared by ALS Global Geochemistry in Thunder Bay and analyzed by ALS Global Analytical Lab in North Vancouver, British Columbia. Samples are processed by 4-acid digestion and analyzed by fire assay on 50 g pulps and ICP-AES (InductivelyCoupledPlasma – AtomicElement-Spectroscopy). Over limit analyses are reprocessed with gravimetric finish.

A total of 5% blanks and 5% standard are inserted randomly within all samples. 5% of the best assay result pulps were sent for re-assays. All QAQC were verified, and no contamination or bias have been observed. The remaining half of the core, as well as the unsampled core, is stored in temporary core racks at the core logging facility in Beardmore and moved to the core storage facility at the Ishkõday Project.

Qualified Person

The technical contents of this release were reviewed and approved by Jean-Philippe Paiement, PGeo, MSc, a consultant to LAURION and a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects .

About LAURION Mineral Exploration Inc.

The Corporation is a mid-stage junior mineral exploration and development company listed on the TSXV under the symbol LME and on the OTCPINK under the symbol LMEFF. LAURION now has 274,097,283 outstanding shares, of which approximately 73.6% are owned and controlled by insiders who are eligible investors under the ‘Friends and Family’ categories.

LAURION’s emphasis is on the exploration and development of its flagship project, the 100% owned mid-stage 57 km 2 Ishkõday Project, and its gold-rich polymetallic mineralization.

LAURION’s chief priority remains maximizing shareholder value. A large portion of the Corporation’s focus in this regard falls within the scope of its mineral exploration activities and more specifically, advancing the Ishkõday Project. A consequence of LAURION’s success and advancement over the past several years is that the Corporation has become positioned as an acquisition target for appropriate potential acquirors. Accordingly, the Corporation’s Board of Directors is aware that possible strategic alternatives and transactional opportunities may arise and/or could be procured in the short or medium terms. The Corporation will promptly issue a press release if any material change occurs.

FOR FURTHER INFORMATION, CONTACT:

LAURION Mineral Exploration Inc .

Cynthia Le Sueur-Aquin – President and CEO

Tel: 1-705-788-9186 Fax: 1-705-805-9256

Douglas Vass – Investor Relations Consultant

Email: info@laurion.ca

Website: http://www.LAURION.ca

Caution Regarding Forward-Looking Information

This press release contains forward-looking statements, which reflect the Corporation’s current expectations regarding future events including with respect to LAURION’s business, operations and condition, management’s objectives, strategies, beliefs and intentions, the Corporation’s ability to advance the Ishkõday Project, the nature, focus, timing and potential results of the Corporation’s exploration, drilling and prospecting activities in 2025 and beyond, including the Corporation’s diamond drill program described in this press release and the Corporation’s other planned activities for the Ishkõday Project for the remainder of 2025, and the statements regarding the Corporation’s exploration or consideration of any possible strategic alternatives and transactional opportunities, as well as the potential outcome(s) of this process, the possible impact of any potential transactions referenced herein on the Corporation or any of its stakeholders, and the ability of the Corporation to identify and complete any potential acquisitions, mergers, financings or other transactions referenced herein, and the timing of any such transactions. The forward-looking statements involve risks and uncertainties. Actual events and future results, performance or achievements expressed or implied by such forward-looking statements could differ materially from those projected herein including as a result of a change in the trading price of the common shares of LAURION, the TSX Venture Exchange or any other applicable regulator not providing its approval for any strategic alternatives or transactional opportunities, the interpretation and actual results of current exploration activities, changes in project parameters as plans continue to be refined, future prices of gold and/or other metals, possible variations in grade or recovery rates, failure of equipment or processes to operate as anticipated, the failure of contracted parties to perform, labor disputes and other risks of the mining industry, delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the Corporation’s publicly filed documents. Investors should consult the Corporation’s ongoing quarterly and annual filings, as well as any other additional documentation comprising the Corporation’s public disclosure record, for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. Subject to applicable law, the Corporation disclaims any obligation to update these forward-looking statements. All sample values are from grab samples and channel samples, which by their nature, are not necessarily representative of overall grades of mineralized areas. Readers are cautioned to not place undue reliance on the assay values reported in this press release.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

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FORTUNE BAY ANNOUNCES EXPLORATION TARGETS AT GOLDFIELDS AND COMMENCES DRILLING

November 25, 2025 Investing 11 Mins Read

Exploration Program Targets Near-Mine Ounce Growth

Fortune Bay Corp. (TSXV: FOR,OTC:FTBYF) (FWB: 5QN) (OTCQB: FTBYF) (‘Fortune Bay’ or the ‘Company’) is pleased to announce that exploration drilling has commenced on multiple high-priority exploration targets at its 100%-owned Goldfields Gold Project (‘Goldfields’ or the ‘Project’) in northern Saskatchewan.

The targets include opportunities for resource expansion at the Box and Athona deposits, and potential for the addition of new resources from underexplored historical occurrences at Frontier, Golden Pond, and Triangle — all within two kilometres of past-producing and expected future mine infrastructure (Figure 1).

An initial 17 exploration holes (3,250 metres) are planned with provision to expand the program in a results-driven manner. The exploration drilling will be carried out in conjunction with development-related drilling, supporting advancement of Goldfields to Pre-Feasibility Study, as described in the Company’s recent News Release.

Gareth Garlick, VP Technical Services for Fortune Bay, commented ‘We have initiated drilling within three weeks of closing our financing, demonstrating the pace at which we intend to advance the Project. Goldfields is already positioned as a robust development asset in Canada’s top mining jurisdiction, with work toward pre-feasibility and permitting in progress. Our exploration program is designed to unlock additional near-mine ounces that could further strengthen Goldfields’ exceptional economics and improve the overall development profile.’

Box Deposit – High-Grades Open at Depth

The Box deposit is wide open at depth. The Company’s 2021 drilling confirmed high-grades extending up to 240 m beyond the extents of the current open-pit constrained Mineral Resource Estimate (‘MRE’) (Figure 2), including:

13.22 g/t Au over 8.0 m from 426.0 to 434.0 m (drill hole B21-340)
8.74 g/t Au over 5.0 m from 575.0 to 580.0 m (drill hole B21-339)
8.00 g/t Au over 12.0 m from 509.0 to 521.0 m (drill hole B21-336)
8.00 g/t Au over 4.0 m from 375.0 to 379.0 m (drill hole B21-334)

Four initial drill holes (2,000 m) are planned to test and infill large gaps (up to 170 m) in the existing drill hole coverage outside of the MRE to test for extensions to high-grade zones with underground mining potential.

Gold mineralization occurs in sheeted and stockwork quartz–sulphide veins within the Box Mine Granite (‘BMG’), controlled by N-S and NW-SE trending structures. The Box Deposit currently hosts an open-pit constrained mineral resource including 734,300 oz Indicated (16.2 Mt @ 1.41 g/t), and 114,100 oz Inferred (3.4 Mt @ 1.04 g/t) (effective date September 11, 2025).

Athona Deposit – Near-Pit Resource Expansion Potential

Mineral resources at Athona are hosted entirely within the Athona Mine Granite (‘AMG’). The outcropping Athona West Mine Granite (‘AWMG’) is located immediately west of the AMG and displays gold mineralization similar in style to the AMG, but has not seen sufficient drilling to support estimation of mineral resources (Figure 3).

Two initial drill holes (270 m) are planned with the dual purpose of testing mineralization continuity in the AWMG and testing an underlying extension of the AMG below the AWMG. This target is located directly adjacent to, and partially overlapping, the Athona open-pit designed in the Updated PEA and has potential to cost-effectively add mineral resources with limited delineation drilling.

Gold mineralization at Athona occurs as stacked quartz–sulphide vein arrays controlled by NNE-trending structures. The Athona Deposit (AMG) currently hosts an open-pit constrained mineral resource including 255,400 oz Indicated (7.8 Mt @ 1.02 g/t) and 100,100 oz Inferred (4.0 Mt @ 0.78 g/t) (effective date September 11, 2025).

Exploration Drilling at Underexplored Historical Gold Occurrences

The Frontier, Golden Pond, and Triangle occurrences — all located within two kilometres of past-producing and expected future mine infrastructure — represent opportunities to define new mineralized zones that could ultimately contribute additional gold ounces to future Mineral Resource Estimates, thereby enhancing the overall scale and optionality of the Goldfields Project. The 2025/2026 exploration drilling program has been designed to test the size potential and continuity of shallow mineralized systems at these targets. Results from this work will be used to prioritize areas for follow-up delineation drilling, with the objective of advancing the most compelling opportunities in a cost-effective and timely manner.

Frontier – Located 800 metres northwest of the Box Deposit, the mineralized Frontier Mine Granite (‘FMG’) forms a 10–25 metre thick tabular body striking ENE–WSW and dipping gently to the SSE, similar in style to the Box Mine Granite. Historical work indicates that most mineralization occurs within a topographic high (outcropping to ~25 metres depth), which could provide a favourable strip ratio should a mineral resource be defined. Three initial drill holes (340 metres) are planned test for down-dip extensions of historically identified mineralization.

Golden Pond – Historical drilling at Golden Pond returned near-surface gold mineralization, with the vein system interpreted to remain open to the northwest. Six initial holes (440 metres) are planned to confirm historical results and to evaluate both along-strike and down-dip extensions of the mineralized structure.

Triangle – Triangle hosts a broad quartz-vein system that has returned surface grab samples up to 177 g/t gold from recent fieldwork. Unlike the granite-hosted targets at Box, Athona, Frontier, and Golden Pond, mineralization at Triangle occurs within less-resistant calcareous bedrock and is often masked by overburden. Historical drilling was limited and did not appropriately test the interpreted vein orientation.

Two initial drill holes (200 metres) will be completed to properly evaluate the target and assess continuity of the mineralized system both along strike and down dip.

Technical Disclosure

Current Drilling and Sampling Results

The Box 2021 (‘B21’) and 2022 (‘B22’) drill holes were oriented at moderate dips (-55 to -60 degrees) to the east to intersect the dominant mineralized vein-sets at high angles, and true thicknesses are estimated to be approximately 80% of the intersected lengths. Drill results shown are assays from 1 metre samples of half-cut NQ core composited into longer intervals using a minimum lower cut-off of 0.5 g/t Au, and maximum 5 metres of consecutive waste defined as < 0.3 g/t Au.

Surface sample results from Triangle derive from grab samples collected by hand from outcrop. Grab samples are selective in nature and are not necessarily representative of the overall mineralization at the occurrence.

Historical Results

Historical exploration results for Golden Pond and Frontier, that are being used to plan exploration holes, derive from assessment reports 74N08-0150 and 74N07-0315, respectively. These reports and supporting datasets are available for download from the Saskatchewan Mineral Assessment Database (‘SMAD’). Accordingly, historical results have not been verified and there is a risk that any future confirmation work and exploration may produce results that substantially differ from the historical results. The Company considers historical results relevant to assess the mineralization and economic potential of the property.

Mineral Resource Estimate

The Mineral Resource Estimate for Box and Athona is provided in the technical report titled ‘Goldfields Project Updated NI 43-101 Technical Report & Preliminary Economic Assessment, Saskatchewan, Canada‘, dated October 20, 2025, prepared by Kevin Murray, P.Eng.; Scott C. Elfen, P.E.; James Millard, P.Geo.; Jonathan Cooper, P.Eng.; Marc Schulte, P.Eng.; Cliff Revering, P.Eng.; and Ron Uken, Pr.Sci.Nat. for Fortune Bay Corp. The report is available under the Company’s issuer profile on SEDAR+ (www.sedarplus.ca) and on the Company’s website at www.fortunebaycorp.com.

Qualified Person & Technical Disclosure

The technical and scientific information in this news release has been reviewed and approved by Gareth Garlick P.Geo., Vice-President Technical Services of the Company, who is a Qualified Person as defined by NI 43-101. Mr. Garlick is an employee of Fortune Bay and is not independent of the Company under NI 43‑101.

About Goldfields

The 100% owned Goldfields Project (‘Goldfields’ or the ‘Project’) is located approximately 13 kilometres south of Uranium City, Saskatchewan. Goldfields hosts the Box and Athona gold deposits, as well as additional gold showings within the prospective Goldfields Syncline. The Box deposit was historically mined underground between 1939 and 1942, producing 64,000 ounces of gold. The Project is located within a historical mining area and benefits from established infrastructure, including a road and hydro-powerline to the Box deposit. Nearby facilities and services in Uranium City include bulk fuel, civils contractors, and a commercial airport.

About Fortune Bay

Fortune Bay Corp. (TSXV:FOR,OTC:FTBYF; FWB:5QN; OTCQB:FTBYF) is a gold exploration and development company advancing high-potential assets in Canada and Mexico. With a strategy focused on discovery, resource growth and early-stage development, the Company targets value creation at the steepest part of the Value Creation Curve—prior to the capital-intensive build phase. Its portfolio includes the development-ready Goldfields Project in Saskatchewan, the resource-expansion Poma Rosa Project in Mexico, and two optioned Athabasca Basin uranium portfolios providing non-dilutive capital and upside exposure. Backed by a technically proven team and tight capital structure, Fortune Bay is positioned for multiple near-term catalysts. For more information, visit www.fortunebaycorp.com or contact info@fortunebaycorp.com.

On behalf of Fortune Bay Corp.

‘Dale Verran’
Chief Executive Officer
902-334-1919

Cautionary Statement

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. Words such as ‘expects’, ‘aims’, ‘anticipates’, ‘targets’, ‘goals’, ‘projects’, ‘intends’, ‘plans’, ‘believes’, ‘seeks’, ‘estimates’, ‘continues’, ‘may’, variations of such words, and similar expressions and references to future periods, are intended to identify such forward-looking statements, and include, but are not limited to, statements with respect to: the results of the Updated PEA, including future Project opportunities, future operating and capital costs, closure costs, AISC, the projected NPV, IRR, timelines, permit timelines, and the ability to obtain the requisite permits, economics and associated returns of the Project, the technical viability of the Project, the market and future price of and demand for gold, the environmental impact of the Project, and the ongoing ability to work cooperatively with stakeholders, including Indigenous Nations, local Municipalities and local levels of government. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward- looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate Indigenous Nations and local Municipalities, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. For more information on Fortune Bay, readers should refer to Fortune Bay’s website at www.fortunebaycorp.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Fortune Bay Corp.

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Crypto Market Update: Crypto Fear & Greed Index Hits “Extreme Fear”

November 24, 2025 Investing 5 Mins Read

Here’s a quick recap of the crypto landscape for Friday (November 21) 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 and Ether price update

Bitcoin (BTC) was priced at US$84,479.56, down by 2.4 percent over 24 hours. Its lowest price of the day was US$82,623.93, and its highest was US$85,341.10.

Bitcoin price performance, November 21, 2025.

Chart via TradingView.

Ether (ETH) was at US$2,736.67, down 3.8 percent over 24 hours. Its lowest price on Friday was US$2,685.25 and its highest was US$2,799.63.

Altcoin price update

XRP (XRP) was priced at US$1.94, down by 3.3 percent over 24 hours. Its lowest price of the period was US$1.89 and its highest was US$1.99.

Solana (SOL) was trading at US$127.23, down by 4.8 percent over 24 hours. Its lowest price of the day was US$124.20 and its highest was US$129.79.

Fear and Greed Index snapshot

CMC’s Crypto Fear & Greed Index plunged to 11, firmly in “extreme fear” and its lowest level since late 2022. Reports of large-scale whale liquidations have added to the uncertainty, amplifying pressure across an already fragile market.

CMC Crypto Fear and Greed Index, Bitcoin price and Bitcoin volume.

Chart via CoinMarketCap.

Crypto derivatives and market indicators

Open interest in Bitcoin futures declined slightly by 0.98 percent, settling at approximately US$58.67 billion, while Ether futures saw a larger drop of 2.50 percent, closing at US$32.39 billion. This contraction in open interest suggests some unwinding of speculative positions or reduced leverage in the derivatives markets for both leading cryptocurrencies.

Bitcoin experienced US$30.48 million in contracts being liquidated, predominantly short positions, whereas Ether had a slightly higher US$32.43 million liquidated, also mostly shorts. This contrasts with recent days, where the vast majority of liquidations were long positions, indicating a shift in market dynamics and trader positioning.

Bitcoin’s relative strength index was low at 31.32, signaling that it is nearing oversold territory, which can often precede a price rebound or a period of consolidation. Its funding rate was recorded at a modestly positive 0.003 percent, indicating a nearly balanced market where long traders pay a small premium to shorts, reflecting moderate bullish sentiment or mild cost for holding long perpetual contracts.

Ether’s funding rate was higher at 0.01 percent, suggesting stronger bullish positioning and higher demand for long exposure in Ether perpetual futures. Generally, positive funding rates imply that longs are paying shorts, signaling optimism about price appreciation. However, considering liquidations skewed toward shorts recently, this could reflect traders attempting to position for a reversal or hedging against potential volatility.

Today’s crypto news to know

Anchorage expands institutional custody and staking support

Anchorage Digital now supports full custody and staking for HYPE tokens across the Hyperliquid ecosystem. Institutions can custody HYPE on HyperEVM and stake on HyperCORE through Anchorage Digital Bank, the only federally chartered crypto bank in the US, as well as through Anchorage Digital Singapore and the self-custody wallet Porto.

Partnering with staking provider Figment, Anchorage now offers a regulated pathway for institutional participation in the Hyperliquid DeFi ecosystem. This expansion also includes custody for additional ERC-20 tokens like Kinetiq, enhancing institutional access to Hyperliquid’s fast-growing blockchain infrastructure.

Crypto lawyer seeks New York attorney general seat

Khurram Dara, a 36-year-old cryptocurrency lawyer with experience at Coinbase Global (NASDAQ:COIN) and Bain Capital Crypto, has announced his candidacy for attorney general in the state of New York.

Dara is seeking the Republican nomination to challenge the incumbent Democrat, Letitia James, in the 2026 election. Dara’s campaign focuses on ending what he calls ‘lawfare,’ the use of legal tactics for political gain, reducing regulatory overreach, especially in the crypto sector and fostering a more business-friendly environment in New York.

Dara holds a JD from Columbia Law and is affiliated with the Council on Foreign Relations and crypto advocacy groups. He resides in Brooklyn and will face Republican primary competition from Michael Henry.

BitMine reports strong earnings, plans Ether staking launch

BitMine Immersion Technologies (NYSEAMERICAN:BMNR) announced net income of US$328.2 million for its 2025 fiscal year, with fully diluted earnings per share of US$13.39.

The company also declared an annual dividend of US$0.01 per share, becoming the first large-cap crypto firm to pay a dividend. Notably, BitMine announced plans to launch its ‘Made-in-America Validator Network,’ an Ethereum staking infrastructure, in early 2026 with initial pilot partners selected for testing.

Coinbase rolls out Ether-backed loans

Coinbase has launched a new lending feature for eligible US users.

They will be able borrow up to US$1 million in USDC by using Ether as collateral. The product is integrated with the Morpho protocol on Base, though users interact with it entirely through Coinbase’s interface. Borrowers keep exposure to Ether’s price movements while accessing liquidity without having to sell their holdings.

The service is available across most US states, with the exception of New York due to regulatory requirements.

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

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

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Heliostar Drills 83.2m Grading 17.35 g/t Gold from 76.0m and Expands Program to 20,000m

November 24, 2025 Investing 11 Mins Read

HIGHLIGHTS:

83.2m grading 17.35 g/t gold from 76.0 m, including
- 46.65 m grading 27.35 g/t gold from 88.95 m
70.7m grading 9.38 g/t gold from 49.65 m
92.1 m grading 4.33 g/t gold from 97.1 m
65.2 m grading 5.39 g/t gold from 152.2 m
Ana Paula drill program to be extended to 20,000 metres of drilling

Heliostar Metals Ltd. (TSXV: HSTR,OTC:HSTXF) (OTCQX: HSTXF) (FSE: RGG1) (‘Heliostar’ or the ‘Company’) is pleased to announce additional results from the current drill program at its 100% owned Ana Paula project in Guerrero, Mexico. The program aims to convert inferred ounces to higher confidence classifications. It will also support the ongoing Feasibility Study and testing the next exploration targets around the Ana Paula deposit.

Heliostar CEO, Charles Funk, commented, ‘It’s rare to find a deposit that consistently produces 50-100m wide drill intercepts of these gold grades. Ana Paula is wide, high-grade, and shallow, with good underground mining conditions. These factors drive the low $1,011 all in sustaining cost in our new PEA for the project. It will also drive high margins at the project. The current program is focused on upgrading inferred ounces to higher confidence categories and the new data will be incorporated into a Feasibility Study. The lower costs drive a lower cut-off grade in the planned mine that opens the potential for more inferred material conversion. To maximize this opportunity, we will expand the program by 33% to 20,000 metres to allow for more infill and exploration drilling at Ana Paula. Across the Company, we have another study, a Prefeasibility Study for Cerro del Gallo, planned this quarter. We are also drilling at San Agustin and La Colorada. These programs should increase production and unlock the value we see in our deep growth portfolio.’

Drilling Program

Heliostar has completed 44 holes and 12,615 metres drilled to date. Drilling is designed along north-south sections with angled holes to better define the overall east-west orientation of the High Grade Panel. Heliostar’s drilling approach at Ana Paula has been to change the direction of drilling by approximately 90 degrees from the majority of historic intercepts. The Company believes that this change contributed to demonstrating more continuous and higher-grade gold mineralization within the High Grade Panel than recognized by previous operators.

Where appropriate, the holes are also being used to collect rock strength data, hydrogeologic data and samples for further metallurgical studies that will directly influence the Ana Paula mine design in the ongoing Feasibility Study.

Drill Results Summary

Holes AP-25-331, AP-25-333, AP-25-334 and AP-25-336 are resource conversion holes drilled in the central part of the High Grade Panel. Holes AP-25-334 and AP-25-336 were drilled on the same fence, with AP-25-334 targeting the polymictic breccia and hanging wall mineralization, and AP-25-336 targeting the polymictic breccia and footwall mineralization. Hole AP-25-334 intercepted a wide zone of 92.05 metres (‘m’) grading 4.33 grams per tonne (‘g/t’) gold, whilst AP-25-336 returned intervals of 3.2 m at 15.58 g/t gold, 65.15 m at 5.39 g/t and 43.55 m at 4.66 g/t gold with a 3.05 m interval with 24.64 g/t gold.

Figure 1: Plan Map of the current drill program at Ana Paula

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7729/275661_ee215e99b48368f4_003full.jpg

Figure 2: Cross-Section through newly reported holes AP-25-334 and AP-25-336

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7729/275661_ee215e99b48368f4_004full.jpg

Hole AP-25-333 is located 60 m to the east of the above-mentioned fence and returned two high-grade intervals of 26.6 m grading 4.78 g/t gold and 83.2 m grading 17.35 g/t gold. Hole AP-25-331 is a step out 32 m to the southeast and returned a 7.95 m zone grading 7.92 g/t gold and a wide high-grade interval of 70.65 m at 9.38 g/t gold.

Holes AP-25-330, AP-25-332 and AP-25-335A are geotechnical holes for mine development planning and returned assay results in line with expectations, including intervals of 48.5 m of 5.48 g/t gold, 5.2 m of 4.23 g/t gold and 35.55 m of 6.73 g/t gold, respectively.

True widths are unknown. Mineralization at Ana Paula occurs as disseminations or vein stockworks with variable controls including rock porosity, lithology and fault networks.

Drilling continues throughout the High Grade Panel and its less well-defined east and west edges, with assays pending from twelve holes. Two of the drills have begun to target deeper inferred mineralization and the northern exploration zone, which is approximately 250 m north of the High Grade Panel that has two drill holes pending assay.

The next Ana Paula drill results are anticipated to be released in December.

Drilling Results and Coordinates Tables

Table 1: Significant Drill Intersections

Holey	From (metres)	To (metres)	Interval (metres)	Au (g/t)	Topcut Au (g/t)	Hole Purpose
AP-25-330	45.4	93.9	48.5	5.48		Geotechnical Hole
including	45.4	53.6	8.2	7.41
and	82.3	85.5	3.2	20.8
AP-25-331	29.9	38.85	8.95	7.27		Resource Hole
including	36.0	38.85	2.85	15.5
and	49.65	120.3	70.65	9.38		¹
including	59.65	75.0	15.35	18.3
AP-25-332	140.5	145.75	5.25	4.23		Geotechnical Hole
AP-25-333	38.8	65.4	26.6	4.78	4.58	Resource Hole²
including	38.8	44.45	5.65	11.3	10.4	²
and including	59.7	65.4	5.7	9.45
and	76.0	159.2	83.2	17.3	15.8	^1,2
including	88.95	135.6	46.65	27.3	24.5	³
and including	146.1	155.3	9.2	9.60
AP-25-334	97.1	189.15	92.05	4.33		Resource Hole
including	98.2	105.85	7.65	8.17
and including	140.15	147.15	7.0	8.49
and including	166.1	180.0	13.9	9.70
AP-25-335A	12.75	21.2	8.45	4.76		Geotechnical Hole
and	45.0	80.55	35.55	6.73
including	45.0	51.7	6.7	11.0
and including	62.2	80.55	18.35	7.94
and	102.6	108.2	5.6	4.67
and	140.55	145.8	5.25	5.01
AP-25-336	25.15	28.35	3.2	15.6		Resource Hole
and	128.35	141.7	13.35	2.50
including	128.35	132.0	3.65	6.85
and	152.2	217.35	65.15	5.39	4.98	⁴
including	152.2	162.4	10.2	13.6
including	173.8	176.85	3.05	24.6	15.8	⁴

¹ Result reported in November 20^th Q3, 2025 quarterly news release
² Top cut to 47 ppm Au based on resource model domains
³ Top cut to 64 ppm Au based on resource model domains
⁴ Top cut to 38 ppm Au based on resource model domains

Drilling Coordinates Table

Table 2: Drill Hole Details

Hole ID	Easting (WGS84 Zone 14N)	Northing (WGS84 Zone 14N)	Elevation (metres)	Azimuth (°)	Inclination (°)	Length (metres)
AP-25-330	410,274	1,997,960	962.6	0	-53	126.0
AP-25-331	410,205	1,998,038	917.7	180	-50	192.0
AP-25-332	410,030	1,998,137	972.8	180	-55	329.4
AP-25-333	410,191	1,998,065	907.1	180	-55	204.0
AP-25-334	410,126	1,998,071	931.8	178	-55	302.0
AP-25-335A	410,254	1,998,038	913.4	180	-46	237.0
AP-25-336	410,128	1,998,121	933.8	180	-55	353.0

Ana Paula Preliminary Economic Assessment Note

Heliostar announced the results of a Preliminary Economic Assessment on November 6, 2025. References to the results in this release are provided in greater detail here.

Quality Assurance / Quality Control

Drill core is PQ size, and the core is cut in half, with half sent for analysis. Core samples were shipped to ALS Limited in Zacatecas, Zacatecas, Mexico, for sample preparation and for analysis at the ALS laboratory in North Vancouver. The Zacatecas and North Vancouver ALS facilities are ISO/IEC 17025 certified. Gold was assayed by 30-gram fire assay with atomic absorption spectroscopy finish, and overlimits were analyzed by 30-gram fire assay with gravimetric finish.

Control samples comprising certified reference and blank samples were systematically inserted into the sample stream and analyzed as part of the Company’s quality assurance / quality control protocol.

Statement of Qualified Person

Stewart Harris, P.Geo., a Qualified Person, as such term is defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed the scientific and technical information that forms the basis for this news release and has approved the disclosure herein. Mr. Harris is employed as Exploration Manager of the Company.

About Heliostar Metals Ltd.

Heliostar is a gold mining company with production from operating mines in Mexico. This includes the La Colorada Mine in Sonora and the San Agustin Mine in Durango. The Company also has a strong portfolio of development projects in Mexico and the USA. These include the Ana Paula project in Guerrero, the Cerro del Gallo project in Guanajuato, the San Antonio project in Baja Sur and the Unga project in Alaska, USA.

FOR ADDITIONAL INFORMATION, PLEASE CONTACT:

Charles Funk
President and Chief Executive Officer
Heliostar Metals Limited
Email: charles.funk@heliostarmetals.com
Phone: +1 844-753-0045

Rob Grey
Investor Relations Manager
Heliostar Metals Limited
Email: rob.grey@heliostarmetals.com
Phone: +1 844-753-0045

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.

Cautionary Statement Regarding Forward-Looking Information

This news release includes certain ‘Forward-Looking Statements’ within the meaning of the United States Private Securities Litigation Reform Act of 1995 and ‘forward-looking information’ under applicable Canadian securities laws. When used in this news release, the words ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘target’, ‘plan’, ‘forecast’, ‘may’, ‘would’, ‘could’, ‘schedule’ and similar words or expressions, identify forward-looking statements or information. These forward-looking statements or information relate to, among other things, show the full extent of the deposit, upgrade and expand the resource base, growing our annual production profile in the near term and bringing additional production online.

Forward-looking statements and forward-looking information relating to the terms and completion of the Facility, any future mineral production, liquidity, and future exploration plans are based on management’s reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the receipt of necessary approvals, price of metals; no escalation in the severity of public health crises or ongoing military conflicts; costs of exploration and development; the estimated costs of development of exploration projects; and the Company’s ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.

These statements reflect the Company’s respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political, and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or forward-looking information and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: precious metals price volatility; risks associated with the conduct of the Company’s mining activities in foreign jurisdictions; regulatory, consent or permitting delays; risks relating to reliance on the Company’s management team and outside contractors; risks regarding exploration and mining activities; the Company’s inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of public health crises; the economic and financial implications of public health crises, ongoing military conflicts and general economic factors to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company’s interactions with surrounding communities; the Company’s ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption ‘Risk Factors’ in the Company’s public disclosure documents. Readers are cautioned against attributing undue certainty to forward-looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/275661

News Provided by Newsfile via QuoteMedia

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Bitcoin and other crypto assets sink in flight from risk

November 24, 2025 Business 3 Mins Read

Bitcoin and ether slumped to multi-month lows on Friday, with cryptocurrencies swept up in a broader flight from riskier assets as investors worried about lofty tech valuations and bets on near-term U.S. interest rate cuts faded.

Bitcoin, the world’s largest cryptocurrency, fell 5.5% to a seven-month low of $81,668. Ether slid more than 6% to $2,661.37, its lowest in four months.

Both tokens are down roughly 12% so far this week.

Cryptocurrencies are often viewed as a barometer of risk appetite and their slide highlights how fragile the mood in markets has turned in recent days, with high-flying artificial intelligence stocks tumbling and volatility spiking VIX.

“If it’s telling a story about risk sentiment as a whole, then things could start to get really, really ugly, and that’s the concern now,” Tony Sycamore, a market analyst at IG, said of the fall in bitcoin.

About $1.2 trillion has been wiped off the market value of all cryptocurrencies in the past six weeks, according to market tracker CoinGecko.

Bitcoin’s slide follows a stellar run this year that propelled it to a record high above $120,000 in October, buoyed by favourable regulatory changes towards crypto assets globally.

But analysts say the market remains scarred by a record single-day slump last month that saw more than $19 billion of positions liquidated.

“The market feels a little bit dislocated, a bit fractured, a bit broken, really, since we had that selloff,” said Sycamore.

Bitcoin has since erased all its year-to-date gains and is now down 12% for the year, while ether has lost close to 19%.

Citi analyst Alex Saunders said $80,000 would be an important level as it is around the average level of bitcoin holdings in ETFs.

The selloff has also hurt share prices of crypto stockpilers, following a boom in public digital asset treasury companies this year as corporates took advantage of rising prices to buy and hold cryptocurrencies on their balance sheets.

Shares of Strategy, once the poster child for corporate bitcoin accumulation, have fallen 11% this week and were down nearly 4% in premarket trade, languishing at one-year lows.

JP Morgan said in a note this week that the company could be excluded from some MSCI equity indexes, which could spark forced selling by funds that track them.

Its Japanese peer Metaplanet has tumbled about 80% from a June peak.

Crypto exchange Coinbase was down 1.9% in premarket trade and is on course for its longest losing streak in more than a month.

Crypto miners MARA Holdings and CleanSpark were down 2.4% and 3.6%, respectively, while the Winklevoss twins’ newly-listed Gemini has plunged 62% from its listing price.

“Bitcoin market conditions are the most bearish they have been since the current bull cycle started in January 2023,” said digital asset research firm CryptoQuant in its weekly crypto report on Wednesday.

“We are highly likely to have seen most of this cycle’s demand wave pass.”

This post appeared first on NBC NEWS

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Stock market sinks as AI and interest rate worries grip investors

November 24, 2025 Business 4 Mins Read

What began as a banner day for stocks turned into a major rout, as investors signaled ongoing skepticism about the longevity of the artificial intelligence boom and trimmed hopes of support from the Federal Reserve.

The tech-heavy Nasdaq fell 2%, and the broad S&P 500 index dropped by more than 1.5%. The Dow Jones Industrial Average, which tracks 30 top-tier stocks, declined by nearly 390 points. It had been up 700 points earlier in the day. Cryptocurrencies also shed billions in value: Bitcoin had fallen below $87,000 as of late Thursday afternoon, weeks after having set highs above $120,000.

The stunning turnaround added further unease to an already shaky economy that has forced households to trim budgets amid stubborn inflation and signs of a wavering job market. With an ever-increasing part of the economy’s principal driver — consumer spending — now reliant on affluent households, an extended market pullback could inflict wider damage.

‘You don’t have to have the biggest bubble in history for an expensive stock market’ and end up seeing declines, said Matt Maley, chief market strategist at Miller Tabak asset management group.

Traders’ hopes were boosted early Thursday by a better-than-expected jobs report that appeared to show the economy remained resilient. Even before the day began, stocks looked poised to rise after Nvidia, the chipmaker at the heart of the AI boom, reported strong quarterly earnings and revenue.

Yet by midday, markets had turned red. The solid September jobs report diminished the odds that the Federal Reserve will cut interest rates next month to lower the cost of borrowing money to spur economic activity. When investors don’t have to pay as much in interest, they often put those savings into stocks.

“The broad rebound in payrolls suggests diminished risks of a higher unemployment rate,” analysts with Morgan Stanley said in a note published shortly before noon. “We no longer expect a Fed cut in December.”

Losses were further compounded by ongoing concerns about AI — specifically, how much more profitable the companies buying chips like Nvidia’s will be. The fears were articulated Wednesday evening on X by Michael Burry, made famous by the movie ‘The Big Short.’

‘Just because something is used does not mean it is profitable,’ he wrote.

Finally, the ongoing sell-off of bitcoin indicated to some traders that a key source of support for stocks — retail or day traders — were beginning to waver on their trademark ‘buy the dip’ mentality.

‘I wouldn’t say we’ve flipped from bull to bear,’ said Steve Sosnick, chief strategist at Interactive Brokers financial group. ‘I would say we’ve flipped from bull to balanced market in the short term. A lot depends on whether sentiment continues to weaken.’

Stocks had already been showing signs of flagging in recent weeks. With Thursday’s losses, the S&P 500 fell to its lowest point since September.

The long-delayed September jobs report, which showed that the United States added a sturdy 119,000 jobs, appeared to show some glimmers of hope for the economy.

Although the unemployment rate ticked up from 4.3% in August to 4.4%, about 450,000 workers entered the labor force. Economists view that as evidence that job opportunities are still plentiful, despite a wave of corporate layoffs.

Just before the Bureau of Labor Statistics released the jobs report, Verizon told employees it planned to lay off 13,000 employees, or about 13% of its workforce.

The company joined a suite of other blue-chip employers that say they plan to eliminate tens of thousands of jobs, including Amazon, General Motors, IBM, Microsoft, Paramount, Target and UPS.

The details of the jobs report, which captured conditions before the government shutdown, as well more recent jobs data, suggested a more mixed picture for the U.S. economy.

Manufacturing shed 6,000 jobs, continuing a trend in a sector the Trump administration has touted as a key target of its economic policies. Transportation and warehousing also lost 25,300 jobs. Wage growth slowed, and job totals for July and August were revised downward.

The employment gains in September were concentrated in the health care, hospitality and social assistance sectors.

Another snapshot of the economy came courtesy of Walmart, which on Thursday reported strong sales and raised its outlook for the year. That strength points to cracks in the economy, though. Executives said the chain is luring more high-income shoppers who are looking for bargains, and noted that lower-income families are feeling more pressure.

‘As pocketbooks have been stretched, you’re seeing more consumer dollars go to necessities versus discretionary items,’ Chief Financial Officer John David Rainey said on an earnings call Thursday morning.

Walmart’s stock closed 6.5% higher.

This post appeared first on NBC NEWS

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