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Interview with Keith Boyle, Director & CEO of New Found Gold Our previous interview: https://www.cruxinvestor.com/posts/new-found-gold-tsxnfgc-q3-hammerdown-production-results-12342 Recording date: 23rd October 2026 New Found Gold Corp. (TSX / NYSE-A: NFGC) has released a revised Preliminary Economic Assessment and updated Mineral Resource Estimate for its 100%-owned Queensway Gold Project in central Newfoundland. At a base case gold price of US$3,600/oz, the study gives an after-tax NPV5% of C$1.728 billion, an after-tax IRR of 126% and payback in under one year. The mine plan outlines 1.744 million ounces of gold over a 15-year phased open pit and underground operation, with average annual production of 116,000 ounces and a peak of 190,000 ounces in 2032. Life-of-mine AISC is estimated at US$1,375/oz. The updated resource raises Measured and Indicated ounces by 38% to 1.920 million ounces, while Inferred ounces are unchanged at 606,000 ounces. Phase 1 has an average head grade of 13.41 g/t gold, and 97% of its ounces are in the Measured and Indicated categories. Grade control drilling at Keats and Iceberg reconciled closely with the earlier resource model, which supports confidence in the high-grade core. The plan relies on the company’s own Pine Cove mill, acquired with Hammerdown, which is being converted to a gravity-CIL circuit and expanded to 1,400 tonnes per day. Phase 1 initial capital of C$149.8 million is in line with the previous estimate, and the company reports it is fully funded. It holds about C$167 million in cash, a C$35 million debt facility and expected warrant proceeds, alongside cash flow from Hammerdown. Later phases add a new on-site mill with dual processing circuits and 86% more underground ounces. The changes improve payability but bring C$832.1 million in growth capital and C$970.8 million in sustaining capital. These costs are intended to be funded from operating cash flow. The Environmental Preview Report is targeted for submission in Q4 2026. Subject to permits, first Queensway material is expected at Pine Cove in Q4 2027. — Learn more: https://cruxinvestor.com Sign up for Crux Investor: https://cruxinvestor.com/subscribe

Interview with Rudi Deysel, Managing Director & CEO of West Wits Mining Our previous interview: https://www.cruxinvestor.com/posts/west-wits-mining-asxwwi-qala-shallows-breakthrough-drives-70000-oz-target-gold-production-10547 Recording date: 22nd October 2026 West Wits Mining (ASX:WWI) has moved from developer to producer at its Qala Shallows gold project on Johannesburg's Witwatersrand Goldfield. First gold was poured in March 2026, and the company is now ramping towards a steady state of 70,000 ounces per annum. CEO and Managing Director Rudi Deysel argues that the market has not caught up with this progress, and that the share price reflects a valuation gap rather than any shortfall in the asset. The valuation case is straightforward on management's numbers. West Wits has a market capitalisation of about A$165 million and held A$36 million in cash on 7 October 2026. Against a 7.24-million-ounce JORC resource at 4.0 g/T gold, Deysel puts the enterprise value at around A$21 per resource ounce. He compares this with ASX-listed gold peers in Australia, Mali and South Africa trading between A$44 and A$118 per ounce. The company's own presentation, using the 7 October share price, gives A$25/oz. Funding is the second pillar. A package of about A$97 million from Absa and Nedbank covers construction and the ramp-up. It includes an A$8 million cost overrun facility that the company's current models do not use. Two senior debt drawdowns totalling about A$50 million have been completed. Each required a cost-to-complete test signed off by the banks' independent technical adviser, which Deysel presents as external validation that the project is on track. The facility includes an 18-month holiday on interest and principal. Operationally, the ramp-up is accelerating. Underground development reached a record 200 metres in September 2026, and surface infrastructure is 61% complete. Ore is toll treated at Sibanye-Stillwater's Ezulwini plant, which removes plant construction risk. Deysel says AISC below US$1,300/oz reflects executed contracts. The updated DFS set life-of-mine AISC at US$1,289/oz using a US$2,850/oz gold price. At around US$4,100/oz gold, management estimates roughly US$200 million of annual margin at steady state, before corporate costs, finance and tax. The milestone sequence is defined. Primary stoping begins in February 2027, grid power connects in early 2027 and surface infrastructure completes in the third quarter of 2027. Commercial production is targeted for the fourth quarter of 2027, followed by 42,500 ounces in 2028 and steady state in the first quarter of 2029. Geological confidence rests on the Witwatersrand Basin's history of more than 1.5 billion ounces produced. Deysel cites high resource-to-reserve conversion and positive reconciliations to date. A new decline into virgin ground gives the mine twin access points to the orebody. Growth sits outside the current valuation. About 6.2 million resource ounces lie beyond the mine plan. The Project 200 scoping study examines 200,000 ounces per annum and is being optimised before release. Bird Reef Central offers uranium-gold optionality, with funded exploration targeting a maiden uranium resource. View West Wits Mining's company profile: https://www.cruxinvestor.com/companies/west-wits-mining Sign up for Crux Investor: https://cruxinvestor.com/subscribe

Interview with Charles C. Downie, President & CEO of Eagle Plains Resources Our previous interview: https://www.cruxinvestor.com/posts/eagle-plains-resources-tsxvepl-five-revenue-streams-29-projects-advancing-in-2026-9412 Recording date: 22nd October 2026 Eagle Plains Resources (TSXV:EPL) is a project generator based in Cranbrook, British Columbia, with more than 30 years of listing history and no share consolidations. Its model is to stake or acquire projects, complete early work with its own cash and then option projects to partners who fund drilling. Under a typical deal, the partner earns 80% and Eagle Plains keeps 20%, plus a royalty. What separates Eagle Plains from many project generators is recurring revenue. TerraLogic Exploration, its wholly owned geological contractor, works for third parties and on Eagle Plains projects. President and CEO Chuck Downie said TerraLogic typically returns $1 million to $2 million a year to the parent, and that first-half 2026 revenue was around $12.5 million against about $3.6 million a year earlier. Eagle Plains holds about $7.5 million in cash, just over $4 million in securities and about $2.2 million in hard assets, which Downie said allows it to go years without a financing. The largest active programme is at Black Bay Project in Uranium City, northern Saskatchewan. Six projects covering five past-producing mines and about 50 mineral occurrences are optioned to Xcite Uranium (TSXV:XRI). Downie put total commitments at just over $19 million in exploration, $330,000 in cash and roughly 2.5 million Xcite shares. About $6 million was spent in 2026, and about $12 million would be needed next year to complete the earn-in. Three projects have been drilled. At Don Lake, downhole probes returned strong radiometric results from all three zones tested, but assays are pending. Eagle Plains operates the programme, earns a management fee and keeps a 20% interest carried to a bankable feasibility study. George Lake, a 100%-owned zinc deposit in Saskatchewan, carries a historical resource of about 7 million tonnes at around 4% zinc. Three holes drilled in 2026 extended mineralisation up to 260 metres down dip. Only about 400 metres of a projected 20-kilometre horizon has been tested. Downie said the route to a partner is to show the deposit can reach 60 million to 80 million tonnes at a similar grade. Earlier-stage copper-gold exposure comes from Theory, optioned to Sun Summit Minerals (TSXV:SMN), and the adjacent Orbit joint venture in the Toodoggone district, both with assays pending. At Iron Range, partner Earthwise Minerals drilled three holes and identified an upper mineralised horizon that aligns with geochemical and IP anomalies. American Eagle Gold has optioned Hearne Hill South near its NAK project. Spin-outs remain an important source of shareholder value. Taiga Gold was sold to SSR Mining for cash and Eagle Royalties was acquired through a transaction with Summit Royalties. Eagle Plains states that spin-outs have delivered more than $115 million in value to shareholders. View Eagle Plains Resources' company profile: https://www.cruxinvestor.com/companies/eagle-plains-resources-ltd Sign up for Crux Investor: https://cruxinvestor.com/subscribe

Recording date: 21st October 2026 Olive Resource Capital (TSXV:OC) used this Compass episode to share how its leadership assesses mining projects on the ground. Executive Chairman Derek Macpherson spoke from Georgetown after visiting Omai Gold Mines (TSXV:OMG) in Guyana, while President, CEO and Chief Investment Officer Samuel Pelaez spoke from central Uruguay near the projects of Sun Valley Minerals. Both companies are among Olive's largest investments, and both executives are directors of the company they visited. The framework starts with access. Investors should ask how a site is reached, whether existing roads and power could support an industrial operation and what would need upgrading before production. The arrival experience itself can signal whether mining matters in a country. In Guyana, mining suppliers advertise in the airport and a large Caterpillar dealership sits on the road into the capital. In Uruguay, the route to site uses paved highways with a high-voltage line alongside, and passes large quarries and cement plants. The second layer is process quality. Clean drill sites, an organised core shack and a disciplined safety induction indicate how a company will operate as it grows. Omai now runs six drill rigs, and Macpherson said core handling has become close to an industrial process. Sun Valley, ahead of its drilling, has set up protocols for 3,000 soil samples a month and an in-house laboratory, with samples also sent to independent laboratories. The third layer is geological reasoning. Macpherson's test is whether the geology team can explain to a non-geologist why it is drilling where it is, and whether it adapts as data arrives. Rigid models risk missing mineralisation. The fourth layer is footprint and line of sight. Visitors should find a high point and look for nearby towns or sensitive sites. Omai is a previously disturbed brownfield site in a country that is mostly rainforest. Sun Valley sits on former eucalyptus plantation land that is unsuitable for food crops, with regrowth screening noise and dust. The final layer is community and workforce. Sun Valley is training local junior hires under experienced specialists, buying locally and securing housing ahead of growth. A future Omai mine is expected to be camp-based, served by a new paved highway, with a historic workforce base in Linden and lasting goodwill from the former operation. For Sun Valley, the near-term catalysts are its expected TSXV listing under SUNV, following the filing of its final prospectus and conditional approval, and first drill results that will test its geological model. Kinross Gold holds a 14.9% interest. The company has no defined resource yet, and Uruguay lacks recent precedent for permitting modern metal mines. For Omai, the steady flow of assays from six rigs is the key item to watch. Macpherson also highlighted strong government support in Guyana, where he expects five large-scale gold operations by around 2030. Investors should weigh all of these observations against the guests' declared positions as directors and shareholders, and verify them against company disclosures. Sign up for Crux Investor: https://cruxinvestor.com/subscribe

Interview with Rupert Verco, Managing Director and CEO, Cobra Resources  Our previous interview: https://www.cruxinvestor.com/posts/cobra-resources-lsecobr-two-new-zones-widen-manna-hill-copper-footprint-in-south-australia-12288 Recording date: 22nd September 2026 Cobra Resources plc (LSE:COBR) has moved its Manna Hill Copper Project in South Australia from visual indications to laboratory-confirmed discoveries. The first assays from its slim-line RC programme confirm copper across three targets, and they add the most direct evidence yet for a porphyry system beneath the known Blue Rose skarn. The headline result came from Blue Rose West. Drillhole MHRC0029 returned 32m at 0.70% Cu and 0.07 g/T Au from 52m, including 12m at 1.13% Cu from 56m and 4m at 1.33% Cu from 78m. What sets this hole apart is its setting. It sits outside the mineralised skarn, in strongly potassic altered rock, and against a large magnetic anomaly about 600m beyond the 1.6km of defined Blue Rose strike. Managing Director and CEO Rupert Verco described it as a step change in potential scale, and said the anomaly is possibly the porphyry intrusion itself. He pointed to other elevated elements and the team's improved understanding of local sediments as reasons to read the potassium as alteration rather than a naturally potassium-rich host. The two new skarns add the near-surface side of the story. Shadow Rose, about 200m south of Blue Rose, returned 58m at 0.46% Cu and 0.15 g/T Au from only 12m, including 42m at 0.56% Cu and 10m at 1.09% Cu. Verco said there is potentially a 2km strike zone to test along trend. Neptune Rose, 500m north, returned 10m at 0.39% Cu from 104m. Three more holes across these targets are awaiting assays. Thirty-two holes and more than 2,800m have been drilled, and the programme has been extended to 64 holes. Verco indicated roughly six to ten holes on the porphyry target, 15 to 20 at Blue Rose and Shadow Rose, and the first drilling at Netley Hill in over 20 years. Petrophysical work on earlier core will guide the choice of geophysics, and a drone magnetic survey is planned. On depth and processing, Verco said earlier diamond drilling hit sulphides to around 320m to 350m, and the Blue Rose West interval is largely sulphide from around 50m. That shows primary mineralisation beneath the oxides. Metallurgical testwork will follow this drilling. Management expects the sulphides to suit conventional flotation, while oxide processing options are still to be assessed. The stated priority is scale first and metallurgy second. Cobra reports that the programme is fully funded, helped by recent warrant exercises. Over the next 12 months, however, spending is expected to split roughly 60/40 toward the company's rare earth project, where an ISR pilot or small-scale production study is planned and strategic offtake partnerships are being considered for funding. For investors, the case now rests on continuity and orientation. The key watch-items are the pending assays, the six holes into the magnetic body, Netley Hill results and any data that firms up true widths. The main risks are the absence of a resource, untested metallurgy and competition for capital from the rare earth asset. Learn more: https://www.cruxinvestor.com/companies/cobra-resources Sign up for Crux Investor: https://cruxinvestor.com/subscribe

Interview with J.W. Dumont, President of Granada Gold Mine  Recording date: 21st October 2026 Granada Gold Mine Inc. (TSXV:GGM) owns the past-producing Granada Gold Project near Rouyn-Noranda, Québec, alongside the Cadillac Break in the Abitibi gold belt. The property produced over 51,400 ounces from two shafts between 1930 and 1935 and was worked again by open pit in the 1990s. Despite this history and a large resource, the company has a market capitalisation of C$7.95 million and has struggled to carry its strategies through to completion. J.W. Dumont was appointed President on September 2026. He spent almost seven years in Côte d'Ivoire, where a mining-finance venture became an operating gold mine after its original model failed. At Granada, his mandate is a corporate turnaround built on capital discipline, more transparent communication and clearing legacy liabilities and reputational issues over the next three to 12 months. The board will be reshuffled, new strategic advisers added, and Dumont expects to become CEO if the market is receptive. The 2026 mineral resource estimate reports 890,600 ounces M&I at 1.73 g/t and 865,500 ounces Inferred at 1.34 g/t which are 64% and 90% higher than in 2022. The increase came from raising the gold price assumption to about US$4,270 per ounce and lowering cut-off grades, not from drilling. No holes have been drilled since 2022. Gold traded near US$4,166 per ounce as of October 2026, so the resource's sensitivity to lower prices is a live question. Dumont said the aim is a resource that holds up at multiple price levels, but that analysis has not been published. Drilling is the main lever. Granada applied for drill permits in October 2026 and plans infill to raise confidence in existing ounces, followed by extensions along strike and at depth. Dumont set an aspirational ceiling of 100,000 metres over two years, funded in tranches of 2 to 5 million. In practice he expects to start small. The scope, budget and schedule have not been announced. The exploration case is clear on paper. Some 87% of historical drilled metres sit within one kilometre of the Granada shafts. The 1.9 km between the Aukeko and Austin-Rouyn shafts has no drill holes, and only 48 holes pass 500 metres. One hole returned 107.8 g/t gold over 4 metres from 617 metres beneath the main pit, though Dumont deferred questions on true width and continuity to his technical team. Granada also holds optionality beyond drilling. A 2016 Certificate of Authorization covers four open pits. XRT ore sorting on a 500 kg sample delivered a 2.7-times grade uplift with 88% recovery, though the feed may not be representative. An Article 30 application for on-site gravity concentration remains in preparation, and DSO and toll milling are under evaluation with no agreement in place. For investors, the case rests on execution. The key watch-items are the drill permit decision, the size and pricing of financing at C$0.035 per share against 227.3 million shares outstanding, the board and CEO changes, and early drill results from the eastern trend and the deeper zones. Learn more: https://www.cruxinvestor.com/companies/granada-gold-mine Sign up for Crux Investor: https://cruxinvestor.com/subscribe

Interview with Heye Daun, President & CEO of Koryx Copper Our previous interview: https://www.cruxinvestor.com/posts/koryx-copper-tsxvkry-namibias-giant-copper-deposit-gets-a-major-upgrade-10548 Recording date: 20th October 2026 Koryx Copper S.A. (TSXV:KRY) is approaching the most important milestone in its turnaround of the Haib Copper Project in southern Namibia. President & CEO Heye Daun told Crux Investor during LME Week in London that the Pre-Feasibility Study will be published before the end of November 2026. He expects the results to be substantially better than the September 2025 PEA. Haib is a large Paleoproterozoic porphyry deposit with copper, molybdenum and gold, previously explored by Falconbridge, Rio Tinto and Teck. Daun’s team took control in 2024. The same group has a record of Namibian exits, including the $180 million sale of Auryx Gold to B2Gold in 2011 and the $390 million sale of Osino Resources to Yintai Gold in 2024. The March 2026 resource contains 744 million tonnes Indicated at 0.28% copper and 579 million tonnes Inferred at 0.24% copper. An infill programme of more than 55 kilometres has been completed to support the PFS. Daun cautioned that individual drill results can only move the average grade of such a large deposit so far. He pointed instead to higher-grade zones the mine plan can prioritise. The main technical change is the flowsheet. Heap leaching has been dropped from the base case after test work showed sulphide heap leaching was not viable at industrial scale. The PFS base case now crushes 48 Mtpa. Coarse particle flotation rejects about 12 Mtpa of low-grade gangue, leaving 36 Mtpa of higher-grade feed for a flotation circuit that includes Jameson cells. The PEA, by comparison, used a 28 Mtpa mill and 7 Mtpa of heap leaching. The PEA provides the baseline. It showed an after-tax NPV of $1.351 billion at 8% and $4.30 per pound copper, an IRR of 20.1%, development capital of $1.559 billion and a 3.9-year payback. It projected 92,000 tonnes per annum of payable copper over the first decade. Daun expects the PFS to show output well above 100,000 tonnes per annum, with capex between $1.5 billion and $2 billion. He said much of the capital estimate is already based on supplier quotes. Infrastructure risk has narrowed. Koryx has signed an MoA with NamPower for a 68-kilometre 220 kV grid connection, backed by solar and battery storage. It has also signed an MoU with NamWater for an Orange River supply scheme. Environmental applications were lodged in August and September 2026. Valuation is the core of the pitch. Koryx benchmarks itself at 0.24 times P/NAV, below a developer median of 0.28 times. It has about C$44.6 million in cash and no debt. Daun named project financing uncertainty as the largest barrier to a re-rating. He plans to address it in 2027 through financing certainty, technical endorsement, a strategic investor and broader institutional ownership. The development schedule points to a DFS and strategic options review in 2027, with first copper estimated in 2031. For investors, the near-term catalyst is the PFS itself. The longer-term test is whether Koryx can secure a credible funding partner for a multi-billion-dollar build. Learn more: https://www.cruxinvestor.com/companies/koryx-copper Sign up for Crux Investor: https://cruxinvestor.com/subscribe

Interview with Peter Bures, Chairman & CEO, and Michael Gentile, Strategic Advisor, of Silver Crown Royalties Recording date: 18th October 2026 Silver Crown Royalties (CBOE:SCRI | OTCQX:SLCRF) is a silver-only royalty company built around byproduct silver that does not appear in resource or reserve statements. Many gold and copper mines produce modest silver volumes. Operators are paid for that silver at the refinery but have never reported it, often because the mines predate post-Bre-X disclosure standards or because the amounts are too small to justify qualified-person sign-off. Without a reported resource, no royalty can be bought on those ounces. Silver Crown’s approach is to create them. The process starts with the operator’s refinery and metals-trader statements, reviewed under NDA. They give a payable silver-to-gold ratio grounded in actual sales. The company prefers producing mines and restarts, where that history exists. A transaction now under evaluation, and not yet signed, shows the structure. A mine with a 2:1 silver-to-gold ratio producing 15,000-20,000 oz of gold implies 30,000-40,000 oz of silver, and Silver Crown would seek a 30,000 oz annual minimum. Strategic Advisor Michael Gentile said the contracts are take-or-pay, so gold revenue covers the obligation if silver output dips. The company’s presentation adds staged investments and registration on title, and puts the royalty’s impact at about 2% of project revenue. The operator’s motivation is valuation. CEO Peter Bures said producers trade at 1-2x sales while royalty companies trade at 20-25x. Gentile framed it in NAV terms: smaller producers trade near 0.4x NAV, Silver Crown near 1x, and Franco-Nevada at 2x. A producer selling silver to Silver Crown crystallizes value on a sliver of revenue at a far higher multiple. Producers can take cash or shares. Bures said counterparties that took equity saw $1M nameplate deals grow to $3-4M in market value as the stock re-rated. Cost of capital is the constraint Gentile says he helps address. He had long avoided junior royalty companies because their discounted shares make acquisitions dilutive and the majors outbid them for quality assets. Silver Crown avoids that auction by originating its own royalties. Gentile likened the setup to Franco-Nevada in the 1980s, financing at about 5% and writing 25% IRR deals with little competition. Bures said cash flow turned positive in the second quarter of 2026 and credited Gentile’s investment with the share re-rating. Silver Crown Royalties lists 6 closed royalties across Canada, Peru, Brazil and Ecuador. It also cites a combined pipeline IRR above 25% and more than 10 active discussions at any time. The company estimates 2026 deliveries of 42,888-61,888 oz versus about 22,000 oz in 2025, and targets a first dividend in 2026. Bures expects 25% average returns to attract competitors eventually. He argued no royalty company under $1B market cap is creating new royalties today. He is also discussing parallel royalties with larger peers, splitting metals in the same orebody, though nothing is signed. The main risks are scale, counterparty performance, dependence on private data, silver price exposure and dilution from equity-paid deals and warrants. Near-term markers are the 30,000 oz transaction closing, delivery growth against the 2026 estimate, and any signed partnership. View Silver Crown Royalties' company profile: https://www.cruxinvestor.com/companies/silver-crown-royalties Sign up for Crux Investor: https://cruxinvestor.com/subscribe

Interview with Jeremy Crozier, COO of Leviathan Metals Recording date: 18th October 2026 Leviathan Metals Corp. (TSXV:LVX) offers early-stage exposure to one of the more geologically predictable copper districts in Africa. Its 100%-owned Central Project sits on Botswana's Kalahari Copper Belt and shares a property boundary with MMG Limited's Khoemacau operations. Chief Operations Officer Jeremy Crozier said MMG acquired Khoemacau for $1.9 billion about two years ago and has since invested a further $900 million to double throughput. Those figures, as Crozier described them, frame the scale of the neighbouring system. The company's case rests on a simple geological rule. Every known copper deposit on the belt sits at the same stratigraphic position, especially where the rocks are folded into structural domes. Regional magnetic data pointed Leviathan to a dome directly south of the Khoemacau cluster, inside the same corridor that hosts the belt's known deposits. Central had never been drilled before the company started in June 2026. The first results support the model. A little over 6,000 metres of diamond core across 25 holes has intersected the target contact in 23 holes. Handheld XRF has detected copper in practically every hole. Lead and zinc, which typically accompany or surround copper in these systems, are also present. Crozier said this suggests the copper readings form part of a broader trend rather than isolated spot anomalies. The critical caveat is grade. XRF is spot data, it is incomplete and it does not provide grades. Most laboratory assays are still outstanding. Until they arrive, investors are assessing geological confirmation rather than economic mineralisation. The drilling has also sharpened the target. The fold is somewhat asymmetrical, and the northern limb has emerged as a structural system that the company views as a strong trap for copper. The 10,000-metre programme allows Leviathan to define and test targets in stages within the same campaign. Even so, current targeting covers only three or four kilometres of a 24-kilometre strike, leaving considerable ground for follow-up. Management has been measured on expectations. Crozier said he could not promise a resource or an economic study. The plan for 2027 is a faster drilling pace and more detailed exploration aimed at defining a coherent target. Jurisdiction is a supporting strength. Crozier said Botswana's Department of Mines did everything it said it would during the renewal of the main Central licence, which took place while Leviathan was negotiating the deal. The country offers established infrastructure, contractors and technical expertise, and Leviathan's crew is almost entirely Botswanan. Leviathan also has a second front in uranium. On October 19, 2026, it announced an RC and open-hole percussion programme of up to 2,500 metres at Serule and Foley. Serule adjoins Lotus Resources' Letlhakane project, and 2024 drilling by the former owner returned grades of 196 to 1,247 ppm U3O8 at depths of 65 to 130 metres. The near-term watch-list is clear. Investors should track laboratory assays from Central, the completion of the 10,000-metre programme, the definition of northern-limb targets and the first results from Serule and Foley. Assays will determine whether Central's geological resemblance to Khoemacau extends to grade. Learn more: https://www.cruxinvestor.com/companies/leviathan-gold Sign up for Crux Investor: https://cruxinvestor.com/subscribe

Interview with Bart Jaworski, CEO and Co-founder of Group Eleven Resources Corp. Our previous interview: https://www.cruxinvestor.com/posts/group-eleven-resources-tsxvzng-ballywire-strike-extends-17-12307 Recording date: 18th October 2026 Group Eleven Resources Corp. (TSXV:ZNG) is exploring the Ballywire discovery in Ireland, next to Glencore’s ground and its Pallas Green zinc deposit. Ahead of Michael Gentile’s European investor roadshow, co-founder and CEO Bart Jaworski explained how the project’s investment case has shifted since the discovery hole in September 2022. A hole cut 10.8 m grading 10.0% Zn+Pb and 109 g/t Ag and drilling since then has outlined 2 linked systems. The first is a zinc-lead-silver system that typically grades about 10% Zn+Pb with 50 to 150 g/t Ag, higher silver than is usual in Ireland. The second is a set of near-vertical copper-silver structures, each 2 to 3 m thick. Jaworski said the copper-silver system has now been intersected over 1,700 m and appears to run for most of the length of the zinc discovery. The shift in emphasis is clear. Jaworski said the company is steering its technical team toward copper, which he regards as the bigger prize. The 2 systems appear to share the same plumbing, so drilling for one should help find the other. Germanium sits inside sphalerite, the zinc mineral, and should be recovered with it, although metallurgical testwork has not yet been done. Scale remains largely untested. About 30,000 m across roughly 91 holes has gone into Ballywire, mostly into 1 of 4 gravity anomalies on a 6 km trend. Jaworski said the company is only a quarter of the way through that trend. Group Eleven held C$16.2 million in cash at June 2026, including a C$12.0 million bought deal, and had a market capitalization of C$224.1 million at September 2026. Drilling has stepped up to 4 rigs, with a fifth possible later this year. The company is targeting about 70,000 m of drilling, most of it in 2027. Jaworski said that includes about 50,000 m at Ballywire and about 15,000 m on a target he described as a mirror image of Pallas Green, south of Glencore’s deposit on the Limerick volcanic complex. The presentation lists approximately 67,000 m funded and up to 75,000 m subject to detailed planning. The share register adds weight. Glencore holds 12.8% of basic shares and Michael Gentile 13.6%. Glencore invested in 2019 and joined the board in 2020. Gentile first invested in 2020, 2 years before the discovery hole, and Jaworski said his following has helped lower the company’s cost of capital. The policy backdrop is supportive. Jaworski said copper and germanium are classed as critical under the European Union’s Critical Raw Materials Act and zinc is not. Ireland offers 6 mines permitted over 60 years, established infrastructure and nearby European smelters. Jaworski also pointed to the new Irish Minerals Fund as a possible future source of local support. The watch-list for 2027 is drilling on the 3 untested gravity anomalies, the first holes into the Pallas Green look-alike target and any metallurgical testwork on germanium. Together, those results will show whether Ballywire is a single deposit or the start of a larger camp. View Group Eleven's company profile: https://www.cruxinvestor.com/companies/group-eleven-resources-corp Sign up for Crux Investor: https://cruxinvestor.com/subscribe

Interview with Brian Miller, Director & CEO of Astra Exploration Our previous interview: https://www.cruxinvestor.com/posts/astra-exploration-tsxvastr-largest-drill-plan-tests-district-scale-at-la-manchuria-12013 Recording date: 18th October 2026 Astra Exploration Inc. (TSXV:ASTR) is a gold-silver explorer focused on Argentina and Chile. Its flagship is the La Manchuria project in Santa Cruz province, within Argentina's Deseado Massif. The company is preparing to start its largest drill campaign to date, and CEO and co-founder Brian Miller set out the investment case at Michael Gentile's European roadshow. La Manchuria hosts two styles of mineralisation. A bulk disseminated system begins at surface and remains open. Miller puts grades in this system could average up to 10 g/t gold. Its hilltop location supports the case for open-pit mining. The project also hosts high-grade veins, typically 1-2 metres thick, carrying 50-100 g/t gold and silver in the kilograms per tonne. The Basalto zone, discovered in March 2026, is a high-grade vein exposed at surface, and its most recent step-out returned 2.0 metres at 80.5 g/t gold and 44 g/t silver. The company has deliberately held off on an updated resource estimate. A small resource already exists, and Miller says drilling has shown the deposit is substantially larger. Astra will only publish an update once it believes it can outline about a million ounces, a threshold that gives investors a clear benchmark against which to judge progress. Phase IV begins in November with two drills. The programme is planned at a minimum of 10,000 metres and up to 20,000 metres, with the final figure driven by results. About 5,000 metres are targeted before year-end, about 5,000 metres in the first quarter of 2027, and up to a further 10,000 metres after that. The first assays are expected around February. Beyond Manchuria Hill, which covers about 1 km², the company has defined five priority regional targets across a 4 x 4 km area. Breccia, directly along strike to the southeast, will be drilled first. La Pampa, to the northeast, is the other standout. In Chile, Astra will drill its 100%-owned Don Mario project in the Maricunga belt in early 2027. Field work in 2026 aligned every geological dataset on a single 2 km by 2 km high-sulphidation epithermal target. About 2,500 metres in roughly seven holes should deliver a go or no-go decision. A strong result could lead Astra to seek a joint venture partner quickly. Astra holds just over C$12 million in cash. The company's latest presentation lists about 137 million shares outstanding, no warrants, and strategic investors holding about 64% of the company, including Gentile with about 15%. The stock has been under pressure and recently traded around C$0.36, close to its 52-week low. The district offers infrastructure optionality. Patagonia Gold, Astra's partner on La Manchuria, has heap leach production at Cap-Oeste and owns the Martha flotation mill, which is on care and maintenance. Pan American Silver's Manantial Espejo plant nearby is also on care and maintenance. Miller believes a project of around a million ounces could support a profitable open-pit starter operation, while a larger discovery would attract a different class of acquirer. The key risks are drilling outcomes, the absence of an updated resource and share-price weakness that could make future financing more dilutive. View Astra Exploration's company profile: https://www.cruxinvestor.com/companies/astra-exploration Sign up for Crux Investor: https://cruxinvestor.com/subscribe

Interview with Michael Gentile, Strategic Investor & Robert Hinchcliffe, President & CEO of Galway Metals Recording date: 18th October 2026 Galway Metals Inc. (TSXV:GWM) has closed a $14 million brokered flow-through financing led by strategic mining investor Michael Gentile. Gentile acquired 17,150,000 units and now holds approximately 10.94% of the company, rising to about 19.72% if his warrants are exercised. He has agreed to a 12-month lock-up. The proceeds are earmarked for exploration at the Clarence Stream gold project in southwest New Brunswick and must be spent by the end of 2027. Clarence Stream hosts 1.42 million ounces Indicated at 1.62 g/t gold and 1.29 million ounces Inferred at 1.40 g/t, for roughly 2.7 million ounces across three deposits. Speaking at the London Mining Forum, Gentile said the project had advanced considerably since he first assessed it several years ago. He pointed to a higher ounce count, improved grade and a strip ratio that he said has fallen from around 10 or 11 to one down to five or six to one. President and CEO Robert Hinchcliffe emphasised that the North and South deposits contain both the higher-grade material and the antimony, giving the project the potential to prioritise higher-grade ounces in its early years. Antimony is a potential source of upside rather than a core assumption. Gentile said he modelled the project with no antimony credit, focusing instead on confirming that it would not harm gold recoveries. He now expects it to add value, though metallurgical testwork continues, with around 50 samples recently sent for analysis. Recent drilling has strengthened the growth case. At the Southwest Deposit, a drill holes returned 2.8 g/t gold over 48.0 metres including 16.7 g/t over 5.0 metres, 8.3 g/t over 6.0 metres and 6.4 g/t over 7.0 metres. Several intercepts fall outside current resource wireframes, supporting the company's model of high-grade shoots plunging to the southwest and hinting at underground potential. Cost and location are central to the thesis. Gentile described all-in drilling costs of about C$120 per metre as the lowest he has encountered. The project also benefits from highways, a deep-water port, power and a nearby town, while New Brunswick approves drill permits in under three weeks, according to Hinchcliffe. Hinchcliffe plans around 70,000 metres of drilling next year. The key near-term catalyst is a PEA expected in Q1 2027 covering all three deposits. Gentile expects the study to correct what he sees as the market's outdated view of Clarence Stream as a low-grade, high-strip-ratio project. He also argues that Canadian development assets near infrastructure will attract growing interest from major producers. Learn more: https://www.cruxinvestor.com/companies/galway-metals-inc Sign up for Crux Investor: https://cruxinvestor.com/subscribe

Interview with Mark Trevisiol, President & CEO of McFarlane Lake Mining Recording date: 18 October 2026 McFarlane Lake Mining (CSE:MLM) is a Canadian gold explorer advancing the Juby Gold Project near Gowganda in Ontario's southern Abitibi Greenstone Belt. The district has produced more than 200 million ounces of gold over the past century and hosts major operations nearby, including IAMGOLD's Côté Gold to the west. The August 2026 Mineral Resource Estimate, prepared by BBA E&C Inc. at a US$3,600/oz gold price, contains 1.07 Moz Indicated at 0.96 g/t and 5.09 Moz Inferred at 0.87 g/t. The company's balance sheet has changed sharply this year. McFarlane acquired Juby from Aris Mining for US$22 million, including a US$15 million debenture due in October 2026. In late May, Michael Gentile and Pierre Beaudoin invested C$6.75 million. CEO Mark Trevisiol said that investment, and the investor support that followed, allowed the company to repay more than US$13 million of the debt. Around US$1.7 million remains, largely held by friendly parties. A C$17.25 million bought deal financing closed in September, and Trevisiol said about C$12 million of that was flow-through funding. That capital funds a 50,000 m Phase 2 programme over 12 to 15 months, with three drills expected on site before 1 November. Two drills will extend known mineralisation along strike and at depth. The third will focus first on infill drilling to convert Inferred ounces to Indicated. Trevisiol has set a goal of about 10 Moz within two years. The presentation allocates conceptual target ranges across the Big Dome, Hydro Creek and Golden Lake trend, the 826 Zone, Juby East and Byberg. These targets are not resources and remain to be tested. Trevisiol was open about the role of price in the latest resource. He said drilling and modelling alone would have added roughly 800,000 to 900,000 oz at last year's US$2,500/oz assumption, with the higher price adding a further significant step to its now 6.2 million ounces of combined gold resource.  Development work runs in parallel. A scoping study is due to begin this quarter, with results targeted by the end of Q2 2027. Environmental baseline studies began in December 2025, and the company aims to submit an advanced exploration permit application in Q1 2027 to support a proposed bulk sample. Metallurgical testwork is confirming earlier SGS results, and historical testing suggests the material may respond to flotation, which could reduce capital requirements. The team has been strengthened with the appointment of Gilbert Lamarche as COO. Lamarche was previously COO of Foran Mining and spent more than 15 years at Vale. Two senior field geologists have also joined. McFarlane at US$33/oz of enterprise value against a peer average of US$48/oz. Key risks include the high Inferred proportion, sub-1 g/t grades, unsecured milling capacity, permitting timelines and a fully diluted share count of 727.0 million. Assay results, toll milling discussions and the scoping study are the main catalysts to monitor over the next 12 to 18 months. Learn more: https://www.cruxinvestor.com/companies/macfarlane-lake-mining Sign up for Crux Investor: https://cruxinvestor.com/subscribe

Interview with Brian McClay, President & CEO of Golden Pursuit Resources Recording date: 16th October 2026 Golden Pursuit Resources (TSXV:GDP) is a junior gold explorer focused on the Gordon Lake district in the Northwest Territories. The company has done something previous operators never managed. It has consolidated a historically fragmented district under single, 100% ownership. President Brian McClay describes a package roughly 41 km long, hosting six historic mines and around 10 deposits. The ground carries no royalties, and the company has no third-party debt. The investment case rests on a simple change in economics. Gordon Lake was explored and mined when gold sold for $35 an ounce and later for $300 to $400. Operators of that era mined at around an ounce per ton and treated anything under half an ounce as waste. With gold above $4,000 per ounce, McClay argues that much of that rejected material now qualifies as high grade. He cites historic Kidney Pond intervals of around 150 feet at 4.5-6 g/T. He also cites three historic holes beneath a 1,000-foot shaft on the east side of the lake, returning up to 2.6 ounces per ton (around 90 g/t). Historic reports also describe extensive hanging-wall mineralisation that was never assessed, along with untested breccias, stockworks and parallel veins. None of the data is compliant with NI 43-101 however. Converting historic results into a modern resource will require a substantial drilling programme. The company’s current work is designed to sharpen targeting without heavy dilution. It has catalogued about 35,000 feet of archived core and plans AI-assisted scanning. It has measured magnetic susceptibility on around 500 rock samples and flown drone geophysics, with results being processed. A full-time geophysicist is completing a PhD on the district. Priority targets include Kidney Pond, Myrt Lake, Lynk and Burnt Island. The central catalyst is road access. Drilling costs $1,000-$1,200 per metre today, and McClay says a road would cut that by about $200 per metre. He reports that the territorial government has spent $50 million on engineering, surveying and permitting the route. Construction has not started, however, and no timeline has been confirmed. McClay says a large global mining fund has shown interest conditional on the road. Capital discipline is the other pillar of the story. Golden Pursuit has fewer than 50 million shares outstanding. McClay, who ran Mosquito Consolidated Gold Mines for 22 years, says he has watched peers destroy shareholder value by diluting too early. His plan is to attract a partner for a staged programme of around 200,000 m. The next step would cost $10 million to $20 million, and any partner would need to commit at least $10 million. He expects a joint venture, or possibly a sale, once the road is built or formally announced. For investors, Golden Pursuit is a leveraged bet on three things: the road being built, historic grades being confirmed at scale, and management securing a partner on favourable terms. The key risks are infrastructure timing, the historic nature of the data and execution as the company transitions to technical leadership. The near-term items to watch are a formal road construction announcement and results from the 2026 geophysical programme. View Golden Pursuit Resources' company profile: https://www.cruxinvestor.com/companies/golden-pursuit-resources Sign up for Crux Investor: https://cruxinvestor.com/subscribe

Recording date: 13th October 2026 SSR Mining has agreed to acquire Roxmore Resources for C$6.75 per share in cash, plus shares in a new exploration SpinCo that will hold Roxmore’s other properties and US$10 million in cash. The cash consideration values Roxmore’s equity at roughly US$464 million. The transaction remains subject to approval by at least two-thirds of votes cast by Roxmore securityholders and by the court, with completion expected in Q4 2026. The prize is the Converse gold project in Nevada, which holds roughly 5.2 million ounces across indicated and inferred categories at an average grade of about 0.5 g/t. Converse lies around 6 km from Marigold, one of SSR’s flagship operations. SSR expects Converse to add 150,000 to 170,000 ounces a year over a mine life of more than 10 years, with first production targeted for 2033. Initial capital is guided at US$800 million to US$900 million, with no material spending expected until the early 2030s. Derek Macpherson, Executive Chairman of Olive Resource Capital, estimates the price at roughly US$95 per resource ounce including the SpinCo. He contrasts this with around US$400 per ounce for two other recent large developer takeovers. Two factors explain the gap in Olive’s view. First, SSR will re-estimate the resource using more conservative gold price assumptions than Roxmore’s US$3,000 per ounce pit shells, which is likely to reduce the ounce count. Second, the list of realistic buyers was short. Converse works best as a tuck-in to Marigold, and the only other nearby operator with obvious synergies, i-80 Gold, is in the middle of a restructuring. The cash premium of 47% to the 20-day volume-weighted average price was respectable but not exceptional. Macpherson notes that Roxmore’s share price held up through September and October. He suggests negotiations were likely well advanced by the time the industry gathered at the Beaver Creek and Denver conferences, given the typical 30 to 60 days of exclusivity between a letter of intent and a definitive agreement. Samuel Pelaez, Olive’s President, CEO and Chief Investment Officer, places the deal within a broader trend. Producers are upgrading the quality of their jurisdictions and concentrating on North America, Guyana and Australia. SSR’s own history illustrates the point. It completed the sale of its 80% stake in the Çöpler mine in Türkiye in June 2026, following a major heap leach failure there, and refocused on the Americas. The partners agree that SSR’s acquisition appetite is not exhausted. The company reported around US$1.78 billion in cash at the end of Q2 2026, and Macpherson estimates it will retain more than US$1 billion in working capital after the deal. Pelaez expects further transactions from SSR, Centerra, Lundin Gold and Kinross within months. Liberty Gold’s Black Pine project in Idaho, in which Centerra already holds a strategic investment, is one asset both partners see as likely to draw interest. Sign up for Crux Investor: https://cruxinvestor.com/subscribe