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Escalating claims by Russia that Ukraine tried to hit a residence used by President Vladimir Putin with drones have been dismissed by a top military drone expert, who called the alleged attack ‘hard to fathom’ and tactically implausible.

Cameron Chell’s comments came as Moscow doubled down on accusations Kyiv has flatly denied, with the drone industry leader arguing the alleged strike announced Monday runs counter to Ukraine’s drone tactics.

Chell, the CEO and co-founder of Draganfly, a drone manufacturer that supplies to the U.S. Department of Defense and allied militaries, including Ukraine, said Russia’s claims lack credibility.

‘What really makes things usually very signature about Ukraine is that they are always incredibly clever about how they use drones,’ Chell told Fox News Digital.

‘They are clever from a cost perspective — let’s call it an efficiency perspective — but also very clever in their tactics,’ he added.

‘I find it hard to fathom that this drone attack even happened on Putin’s residence or that it was something that Ukraine orchestrated for a number of reasons,’ Chell said.

‘Based on the description of the alleged attack over the top of Putin’s residence, the drones would not have been launched from a very long distance away,’ he said.

‘This would have avoided up to 1000 km of air defense systems and then likely attacking one of the most heavily fortified air defense networks surrounding Putin’s Valdai residence.

‘The cost benefit analysis, not to mention the political analysis, also does not make sense,’ he added.

Chell’s comments came as Russia doubled down Tuesday on accusations that Ukraine attempted to strike a presidential palace in the Novgorod region using drones, allegedly to disrupt peace efforts.

Kyiv dismissed the allegation, with the timing also raising questions given the upbeat tone of a recent meeting between President Donald Trump and Ukrainian President Volodymyr Zelenskyy in Florida.

Russian Foreign Minister Sergey Lavrov claimed late Monday that 91 drones were intercepted en route to Putin’s residence on the shores of Lake Valdai.

His statement appeared to contradict earlier Defense Ministry tallies, which said 89 drones were shot down over eight regions, including 18 over Novgorod, later adding another 23.

Only after Lavrov spoke did the ministry allege that 49 drones intercepted over Bryansk, nearly 300 miles away, were also targeting Valdai.

Asked about wreckage, Kremlin spokesman Dmitry Peskov said it was ‘a matter for our military,’ while calling Zelenskyy’s denial and Western skepticism ‘completely insane.’

Peskov said Russia’s diplomatic stance would be toughened, and Duma Speaker Vyacheslav Volodin vowed there could be ‘no forgiveness’ for Zelenskyy.

Chell said the story simply does not add up. ‘To attack Putin’s residence in the manner described would require much more sophisticated tactics than simply sending long-range, relatively slow-moving drones,’ he said.

Chell also noted that this was a night operation and therefore, it generally rules out accurate visual mapping navigation. 

‘Since the description of the attack also does not lend itself to the use of fiber optic communication, which requires a relatively close range launch point, these drones would likely have had to rely on GPS navigation,’ he explained.

‘This would easily have been thwarted in this area and the Ukrainians would have known this,’ Chell said.

Politically, Chell argued, Ukraine has nothing to gain. ‘They’re bold, but right in the middle of peace talks — when they need Trump on side — it makes no sense,’ he said. ‘Ukraine is just politically too smart to have done that.’

Zelenskyy on Monday also called the claim a complete fabrication, accusing Moscow of laying the groundwork for further attacks. 

Lavrov warned of retaliation but said Russia would continue talks with Washington.

Trump also said he learned of the alleged attack directly from Putin and was ‘very angry about it.’ Asked whether there was evidence, Trump replied, ‘We’ll find out.’

Fox News Digital has reached out to the Kremlin for comment.

This post appeared first on FOX NEWS

President Donald Trump claimed that California and Minnesota are both rife with fraud, slamming the two states and their respective governors as ‘Crooked.’

‘There is more FRAUD in California than there is in Minnesota, if that is even possible. When you add in Election Fraud, then they are tied for first. Two Crooked Governors, two Crooked States!’ the president asserted in the post on Wednesday, referring to California Gov. Gavin Newsom and Minnesota Gov. Tim Walz.

Trump also slammed Rep. Ilhan Omar, D-Minn., in a Truth Social post on Wednesday.

‘Much of the Minnesota Fraud, up to 90%, is caused by people that came into our Country, illegally, from Somalia. ‘Congresswoman’ Omar, an ungrateful loser who only complains and never contributes, is one of the many scammers. Did she really marry her brother? Lowlifes like this can only be a liability to our Country’s greatness. Send them back from where they came, Somalia, perhaps the worst, and most corrupt, country on earth. MAKE AMERICA GREAT AGAIN!!!’ he declared.

Fox News Digital reached out to the offices of Omar, Newsom and Walz to request comment but did not immediately hear back.

The president’s comments come in the wake of reporting alleging massive fraud in Minnesota.

‘We have frozen all child care payments to the state of Minnesota,’ Deputy Secretary of Health and Human Services and acting Centers for Disease Control and Prevention director Jim O’Neill declared in a Tuesday post on X. 

‘You have probably read the serious allegations that the state of Minnesota has funneled millions of taxpayer dollars to fraudulent daycares across Minnesota over the past decade,’ he noted. ‘I have activated our defend the spend system for all ACF payments. Starting today, all ACF payments across America will require a justification and a receipt or photo evidence before we send money to a state.’ 

Walz responded to the move by blasting Trump.

‘This is Trump’s long game. We’ve spent years cracking down on fraudsters. It’s a serious issue — but this has been his plan all along. He’s politicizing the issue to defund programs that help Minnesotans,’ Walz asserted in a post on Tuesday to his official governor’s X account.

In a follow-up post Wednesday to his personal account, Walz declared, ‘While Minnesota has been combating fraud, the President has been letting fraudsters out of jail. Trump’s using an issue he doesn’t give a damn about as an excuse to hurt working Minnesotans.’

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The number of American citizens arrested and held in Venezuela has risen in recent months, according to a new report.

Several Americans have been detained by Venezuelan security forces as the Trump administration stepped up efforts to isolate President Nicolás Maduro, including sanctions enforcement and an expanded military presence in the Caribbean, The New York Times reported.

A U.S. official familiar with the matter, speaking on condition of anonymity, told the outlet that while some detainees face what Venezuelan authorities describe as legitimate criminal charges, Washington is considering designating at least two Americans as ‘wrongfully detained.’

.’

This can speed up diplomatic efforts to secure their release.

Those arrested currently are said to include three Venezuelan-American dual nationals and two U.S. citizens with no known ties to Venezuela, the official told the outlet.

Maduro’s government has long been accused by U.S. officials and critics of using detained foreign nationals as leverage in negotiations with the U.S.

President Trump has made the release of Americans held overseas a priority during both of his presidencies. During his first term, he followed a campaign of maximum pressure against Maduro.

On his return to office in January, Trump also sent envoy Richard Grenell to Caracas to push for a prisoner agreement.

Grenell met Maduro in person and was tasked with securing the return of detained Americans, announcing he was bringing home six who had been imprisoned, per Reuters.

In May, Venezuela also released a U.S. Air Force veteran who had been detained for roughly six months. 

Joseph St Clair, who served in Afghanistan, had traveled to South America for treatment for post-traumatic stress disorder.

In July, as reported by Fox News Digital, 10 more Americans and U.S. permanent residents were released after a prisoner swap that saw more than 250 Venezuelans held in El Salvador also returned home. The U.S. State Department confirmed that release on July 18, 2025.

‘Our commitment to the American people is clear: we will safeguard the well-being of U.S. nationals both at home and abroad and not rest until all Americans being held hostage or unjustly detained around the world are brought home,’ Secretary of State Marco Rubio said at the time.

.

That diplomatic push led to talks between U.S. and Venezuelan officials and resulted in the release of at least 16 American citizens and permanent residents by mid-2025.

Those negotiations were later suspended as the administration shifted toward broader pressure.

The U.S. began expanding sanctions enforcement, redeploying naval assets to the Caribbean, and increased operations targeting vessels allegedly linked to drug-trafficking networks tied to Maduro’s regime.

Meanwhile, the New York Times reported Wednesday that among those Americans currently reported missing is James Luckey-Lange, 28, of Staten Island, New York, who went missing after crossing Venezuela’s southern border in early December.

Luckey-Lange is the son of musician Diane Luckey, known as Q Lazzarus.

Another former detainee, Renzo Huamanchumo Castillo, a Peruvian-American, told the outlet he was arrested last year and accused of terrorism and plotting to kill Mr. Maduro.

‘We realized afterward, I was just a token,’ he said. He was released in the July prisoner swap after months of harsh detention.

At least two others with U.S. ties remain imprisoned, according to their families: Aidel Suarez, a U.S. permanent resident born in Cuba, and Jonathan Torres Duque, a Venezuelan-American, according to reporting by The New York Times.

The exact number of newly detained Americans has not been publicly disclosed by U.S. officials.

Fox News Digital has reached out to the Department of State for comment.

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The U.S. Department of the Treasury on Wednesday sanctioned four companies operating in Venezuela’s oil sector and identified four oil tankers as blocked property, saying the move targets oil traders involved in alleged sanctions-evasion that helps finance Nicolás Maduro’s regime.

Treasury said the vessels, some described as part of a ‘shadow fleet’ serving Venezuela, ‘continue to provide financial resources that fuel Maduro’s illegitimate narco-terrorist regime’ in Tuesday’s press release.

‘President Trump has been clear: We will not allow the illegitimate Maduro regime to profit from exporting oil while it floods the United States with deadly drugs,’ Treasury Secretary Scott Bessent said. ‘The Treasury Department will continue to implement President Trump’s campaign of pressure on Maduro’s regime,’ he added.

Treasury said the sanctions block property and interests in property of the designated entities within U.S. jurisdiction and generally prohibits Americans from transactions involving them.

The action follows U.S. measures against Venezuela’s state-run oil company Petroleos de Venezuela, S.A. (PDVSA).

OFAC designated PDVSA in January 2019 under Executive Order 13850, and President Trump later took additional steps to block PDVSA in August 2019 under Executive Order 13884, Treasury said.

Treasury said Wednesday’s move also complements actions announced Dec. 11 and Dec. 19 targeting PDVSA-linked officials, associates and vessels.

OFAC designated Corniola Limited and Krape Myrtle Co LTD and identified the tanker NORD STAR as blocked property. OFAC also designated Winky International Limited and identified ROSALIND, also known as LUNAR TIDE, as blocked property. OFAC designated Aries Global Investment LTD and identified the tankers DELLA and VALIANT as blocked property, Treasury said.

Treasury said blocked property within U.S. jurisdiction must be reported to OFAC, and warned that violations of U.S. sanctions may result in civil or criminal penalties.

Treasury said the goal of sanctions is to bring about a positive change in behavior, noting there is a formal process for seeking removal from an OFAC list consistent with U.S. law.

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The Department of Justice (DOJ) on Wednesday outlined a list of its accomplishments during President Donald Trump’s first year back in office, arguing that the agency has ended the political weaponization it says existed under the Biden administration.

The DOJ claimed in a statement posted on X that it has ‘turned around’ the agency, restoring fairness and law enforcement priorities.

‘Instead of keeping Americans safe, the Biden DOJ weaponized its power against political opponents: conservatives, parents, pro-lifers, Christians, and most of all, President Trump,’ the DOJ stated.

The DOJ said that after President Trump inherited a justice system it described as ‘in chaos,’ he charged the department with restoring ‘integrity, accountability and equal justice under the law.’

‘In 2025, the DOJ returned to its core mission: upholding the rule of law, vigorously prosecuting criminals, and keeping the American people safe,’ the department wrote.

The announcement comes as the Trump administration continues to face legal challenges and the Justice Department faces potential legal action after missing a statutory deadlinedeadline to release documents related to Jeffrey Epstein under the Epstein Files Transparency Act.

The DOJ outlined 10 ‘wins’ since President Trump took office on Jan. 20, including efforts to pursue major fraud cases, particularly in Minnesota, which it described as ‘rife with fraud.’

According to the DOJ, 98 people have been charged — including 85 individuals identified as being of Somali descent — in Medicaid fraud and related case programs, leading to 64 convictions to date.

The statement outlines actions taken to roll back policies it said were targeting conservatives and parents, reduce crime nationwide, increase law enforcement activity in major cities, seize record amounts of illegal drugs and secure favorable rulings at the Supreme Court.

On Wednesday, FBI Director Kash Patel wrote on X that the bureau is working to restore trust in federal law enforcement.

‘Dismantling public corruption is a top priority of our leadership team here — we’ve worked day and night on that mission and will continue to do so until justice is done,’ he wrote.

The Justice Department said more enforcement actions are planned in 2026, signaling an escalation of arrests, court victories and action ‘against those who threaten the safety and well-being of the American people.’

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Russian President Vladimir Putin used his New Year’s address to deliver a blunt message to the West and to his own troops: Russia is not backing down in Ukraine.

As 2026 arrived in Russia’s far eastern regions, Putin vowed victory in the nearly four-year war, praising Russian soldiers and framing the conflict as a fight for the nation’s survival — even as the United States ramps up diplomatic efforts aimed at ending the bloodshed.

‘We believe in you and our victory,’ Putin said in remarks broadcast nationwide and released by the Kremlin on Wednesday. Addressing troops directly, he congratulated ‘all our soldiers and commanders’ and pledged continued support for what Moscow calls its ‘special military operation.’

Putin cast the war as a struggle for Russia’s homeland, ‘truth and justice,’ signaling determination to press ahead despite mounting losses and international pressure.

In a separate message, ex-President Dmitry Medvedev — Putin’s security council deputy — said of victory in Ukraine: ‘I sincerely believe that it is near.’ Echoing Putin, he spoke of ‘our great and invincible Russia.’

The defiant tone comes as the war approaches grim milestones. On Jan. 12, Russia’s invasion of Ukraine will surpass the 1,418 days the Soviet Union fought Nazi Germany in Europe during World War II. On Feb. 24, the conflict will enter its fourth year. Western estimates place the number of killed and wounded at more than 1 million — a figure the Kremlin disputes.

Putin’s rhetoric stood in sharp contrast to renewed diplomatic activity led by Washington.

Ukrainian President Volodymyr Zelenskyy met with U.S. President Donald Trump at Trump’s Mar-a-Lago resort in Florida on Sunday, as the White House explores possible paths to end Europe’s largest land war since World War II.

After the meeting, Trump said Ukraine and Russia were ‘closer than ever’ to peace, while acknowledging that major obstacles — particularly territorial disputes — remain unresolved. Reuters separately reported that Trump and Zelenskyy discussed potential U.S. troop involvement as part of broader security guarantees, though no decisions were announced.

Reuters contributed to this report.

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TORONTO, ON / ACCESS Newswire / December 31, 2025 / NextSource Materials Inc. (TSX:NEXT,OTC:NSRCF)(OTCQB:NSRCF) (‘NextSource’ or the ‘Company’) is pleased to announce the results of the Annual Meeting of Shareholders of the Company (the ‘Meeting’) held virtually at 8:00 AM (Toronto time) on December 30, 2025.

AGM Results

The final voting results of the Meeting are set out below:

  1. Election of Directors. The Company’s shareholders elected each of the nominees as directors to serve until the next annual meeting of shareholders, or until their respective successors are elected or appointed. The following table sets forth the voting results with respect to the election of directors:

Nominee

For

Against

Sir Mick Davis

99.6%

0.4%

Hanré Rossouw

99.5%

0.5%

Christopher Kruba

99.7%

0.3%

Ian Pearce

99.7%

0.3%

Craig Scherba

99.5%

0.5%

Brett Whalen

99.5%

0.5%

2. Appointment of Auditor. The Company’s shareholders approved the appointment of PricewaterhouseCoopers LLP, Chartered Professional Accountants, as the Company’s auditors for the fiscal year ending June 30, 2026 and that the Board of Directors is authorized to fix their remuneration. The following table sets forth the voting results with respect to the appointment of PricewaterhouseCoopers LLP:

For

Withheld

99.9%

0.1%

A total of 101,161,308 common shares equivalent to 54.7% of the common shares entitled to vote were represented in person or by proxy at the Meeting.

ABOUT NextSource Materials Inc.

NextSource Materials Inc. is a battery materials company based in Toronto, Canada that is intent on becoming a vertically integrated global supplier of battery materials through the mining and value-added processing of graphite and other minerals.

The Company’s Molo graphite project in Madagascar is one of the largest known and highest-quality graphite resources globally, and the only one with SuperFlake® graphite. The Molo mine has begun production through Phase 1 mine operations.

The Company is also developing a significant downstream graphite value-add business through the staged rollout of Battery Anode Facilities (BAF) capable of large-scale production of coated, spheronized and purified graphite for direct delivery to battery and automotive customers, in a fully transparent and traceable manner. The Company is now in the process of developing its first BAF in the UAE.

NextSource Materials is listed on the Toronto Stock Exchange under the symbol ‘NEXT’ and on the OTCQB under the symbol ‘NSRCF’.

For further information about NextSource Materials, please visit our website at www.nextsourcematerials.com or contact us at +1.416.364.4911 or email Brent Nykoliation, Executive Vice President at brent@nextsourcematerials.com.

CAUTIONARY NOTE

This press release contains statements that may constitute ‘forward-looking information’ or ‘forward-looking statements’ within the meaning of applicable Canadian and United States securities legislation. Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward looking statements and information are frequently characterized by words such as ‘plan’, ‘expect’, ‘project’, ‘intend’, ‘believe’, ‘anticipate’, ‘estimate’, ‘potential’, ‘possible’ and other similar words, or statements that certain events or conditions ‘may’, ‘will’, ‘could’, or ‘should’ occur. Forward- looking statements include any statements regarding, among others, reaching nameplate production capacity and the rollout of Battery Anode Facilities including the capabilities and the timing and economics thereof. These statements are based on current expectations, estimates and assumptions that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by the Company and described in the forward-looking statements contained in this press release. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do so, what benefits the Company will derive there from. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether because of new information, future events or otherwise, except as may be required by applicable securities laws. Although the forward-looking statements contained in this news release are based on what management believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with them. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.

SOURCE: NextSource Materials Inc.

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(TheNewswire)

 

Vancouver, British Columbia TheNewswire – December 31st, 2025 Prismo Metals Inc. (‘Prismo’ or the ‘Company’) (CSE: PRIZ,OTC:PMOMF) (OTCQB: PMOMF) is pleased to announce that further to its news release December 3, 2025, the Company has proceeded with an upsized closing (the ‘Closing’) of its previously announced non-brokered private placement of units of the Company (‘Units’) at an issue price of $0.10 per Unit (the ‘Private Placement’). The Closing consisted in the issuance of 2,940,000 Units for gross proceeds of $294,000.

‘With the exception of one investor, every subscriber in this last closing is a new shareholder of Prismo,’ said Alain Lambert CEO of Prismo. ‘Our immediate priority is to undertake our fully funded drill program, as previously announced. This drill campaign will focus primarily on the historic Silver King mine site and will be for a minimum of about 1,000 meters. The objective is to test the upper half of the steeply dipping pipelike Silver King mineralized body as well as potential mineralization adjacent to the dense stockwork that was the focus of historic mining.’

The Company previously announced the first closing of the Private Placement on November 12, 2025 for aggregate gross proceeds of $1,745,000 and a second closing of the Private Placement on December 2, 2025 for aggregate gross proceeds of $165,000. Due to strong investor demand, the Company has now raised aggregate gross proceeds of $2,204,000 through the sale of an aggregate of 22,040,000 Units.

Each Unit consists of one common share in the capital of the Company (a ‘Share‘) and one common share purchase warrant of the Company (a ‘Warrant‘). Each Warrant entitles the holder to purchase one Share for a period of thirty-six (36) months from the date of issue at an exercise price of $0.175.

The Company intends to use the net proceeds of the Private Placement primarily for drilling at its Silver King project and for general corporate purposes. There may be circumstances, however, where, for sound business reasons, a reallocation of funds may be necessary. The Company expects to accept additional subscriptions of Units from new shareholders in the coming days for an approximate amount of $75,000.

The Units issued pursuant to the Closing are subject to a four-month hold period from the closing date of the Closing under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.

In connection with the Closing, the Company issued an aggregate of 185,200 finder’s warrants (the ‘Finder’s Warrants’) and paid finder’s commissions of $18,520 to a certain qualified finder. Each Finder’s Warrant is exercisable for a period of twenty-four (24) months from the date of issuance to purchase one Share at a price of $0.10. In addition, the Company paid a cash fee of $7,000 to a financial advisor.

The securities being issued in connection with the Closing have not been and will not be registered under the U.S. Securities Act and may not be offered or sold in the United States, or to, or for the account or benefit of, U.S. persons or persons in the United States, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

About Prismo Metals Inc.

Prismo (CSE: PRIZ,OTC:PMOMF) is a mining exploration company focused on advancing its Silver King, Ripsey and Hot Breccia projects in Arizona and its Palos Verdes silver project in Mexico.

Please follow PrismoMetals on Twitter, Facebook, LinkedIn, Instagram, and YouTube

Prismo Metals Inc.

1100 – 1111 Melville St., Vancouver, British Columbia V6E 3V6 Phone: (416) 361-0737

 

Contact:

Alain Lambert, Chief Executive Officer alain.lambert@prismometals.com

Gordon Aldcorn, President gordon.aldcorn@prismometals.com

 

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

Cautionary Note Regarding Forward-Looking Information

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as ‘intends’ or ‘anticipates’, or variations of such words and phrases or statements that certain actions, events or results ‘may’, ‘could’, ‘should’, ‘would’ or ‘occur’. This information and these statements, referred to herein as ‘forward-looking statements’, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management’s expectations and intentions with respect to, among other things: the timing, costs and results of drilling at Silver King; the intended use of any proceeds raised under the Closing; and the completion of an additional tranche.

These forward-looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: the potential inability of the Company to utilize the anticipated proceeds of the Private Placement as anticipated; the potential inability of the Company to complete an additional tranche on the terms disclosed, or at all; and those risks set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.com) under the Company’s issuer profile.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will use the proceeds of the Closing as currently anticipated and on the timeline currently expected; and that the Company will complete an additional tranche.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward- looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

 

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Copyright (c) 2025 TheNewswire – All rights reserved.

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TORONTO, ON / ACCESS Newswire / December 31, 2025 / 55 North Mining Inc. (CSE:FFF,OTC:FFFNF)(FSE:6YF) (‘55 North‘ or the ‘Company‘) is pleased to announce the appointment of Wayne Parsons as Executive Chair of the Board, effective January 1, 2026.

Mr. Parsons brings over 20 years of experience in the investment business, having worked at BMO, RBC and most recently at National Bank Financial. He has since established a consulting practice focused on the mining sector and provides strategic advisory services to mining companies focused on capital markets strategy, financing execution and investor engagement. Mr. Parsons has served on a number of boards, most recently with Bunker Hill Mining Corp.

‘Wayne’s skills and experience are exactly what 55 North needs as we advance this project toward production,’ said Bruce Reid, Chief Executive Officer of 55 North Mining. ‘He is well connected globally and will be a tremendous help in connecting us with the right people to get this project financed. We met in the early days of Bunker Hill Mining, and when that project encountered challenges, Wayne stepped in, personally funded the recapitalization, and helped assemble the team to move it forward. His reputation will be highly valuable to our future success.’

The Company believes Mr. Parsons’ appointment significantly strengthens its leadership and positions 55 North to execute on its strategy of advancing the Last Hope Gold Project toward development and production.

About 55 North Mining Inc.

55 North Mining Inc. is a Canadian exploration and development company advancing its high-grade Last Hope Gold Project located in Manitoba, Canada.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr. Bruce Reid
Chief Executive Officer
55 North Mining Inc.
Phone: 647-500-4495
bruce@mine2capital.ca

Mr. Vance Loeber
Corporate Development
Phone: 778-999-3530
cvl@tydewell.com

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release of 55 North contains statements that constitute ‘forward-looking statements.’ Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.

SOURCE: 55 North Mining Inc.

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VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / December 31, 2025 / CoTec Holdings Corp. (TSXV:CTH,OTC:CTHCF)(OTCQB:CTHCF) (‘CoTec’ or the ‘Company’) is pleased to note MagIron LLC’s (‘MagIron’) press release dated December 31, 2025, following its prior press release dated December 19, 2025. CoTec owns 16.5% of the equity in MagIron on a fully diluted basis.

MagIron announced that it has successfully completed the acquisition of the pellet plant located near Reynolds, Indiana (‘Reynolds Pellet Plant’) from the Receivership Estate of Altos Hornos De Mexico, S.A.B De C.V. (the ‘Acquisition’) on schedule and in accordance with the Asset Purchase Agreement (‘APA’).

Larry Lehtinen, CEO of MagIron commented: ‘The completion of this transaction marks a significant milestone for MagIron. We now look forward to implementing our restart strategy and bringing significant investment and job creation to both Minnesota and Indiana.’

Julian Treger, CoTec CEO commented: ‘The Reynolds Pellet Plant is a modern straight grate, past producing, restart-ready pelletizer benefitting from approximately $440 million of prior investment. The completion of its acquisition enables MagIron to now focus on the execution of its strategy to become a fully integrated DR pellet producer to America’s fast growing Electric Arc Furnace steel industry and pursuing the development of merchant pig iron facilities. CoTec is very supportive of this strategy and believes that, if successful, MagIron could become a significant contributor to the USA steel industry.’

For more information on this press release, please visit https://magironusa.com

About CoTec

CoTec Holdings Corp. (TSX-V:CTH)(OTCQB:CTHCF) is redefining the future of resource extraction and recycling. Focused on rare earth magnets and strategic materials, CoTec integrates breakthrough technologies with strategic assets to unlock secure, sustainable, and low-cost supply chains for the United States and its allies.

CoTec’s mission is clear: accelerate the energy transition while strengthening U.S. economic and national security. By investing in and deploying disruptive technologies, the Company delivers capital-efficient, scalable solutions that transform marginal assets, tailings, waste streams, and recycled products into high-value critical minerals.

From its HyProMag USA magnet recycling joint venture in Texas, to iron tailings reprocessing in Québec, to next-generation copper and iron solutions backed by global majors, CoTec is building a diversified portfolio with long-term growth, rapid cash flow potential, and high barriers to entry. The result is a game-changing platform at the intersection of technology, sustainability, and strategic materials.

For more information, please visit www.cotec.ca

For further information, please contact:

Braam Jonker – (604) 992-5600
Chief Financial Officer

Forward-Looking Information Cautionary Statement

Statements in this press release regarding the Company and its investments which are not historical facts are ‘forward-looking statements’ which involve risks and uncertainties, including statements relating to the Company’s interest in MagIron, the completion of the Acquisition, the potential restart of the MagIron operations, the MagIron strategy, including a potential development of pig iron facilities and management’s expectations with respect to its current and potential future investments, and the benefits to the Company which may be implied from such statements. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements, due to known and unknown risks and uncertainties affecting the Company, including but not limited to resource and reserve risks; environmental risks and costs; labor costs and shortages; uncertain supply and price fluctuations in materials; increases in energy costs; labor disputes and work stoppages; leasing costs and the availability of equipment; heavy equipment demand and availability; contractor and subcontractor performance issues; worksite safety issues; project delays and cost overruns; extreme weather conditions; and social and transport disruptions. For further details regarding risks and uncertainties facing the Company please refer to ‘Risk Factors’ in the Company’s filing statement dated April 6, 2022, a copy of which may be found under the Company’s SEDAR profile at www.sedar.com. The Company assumes no responsibility to update forward-looking statements in this press release except as required by law. Readers should not place undue reliance on the forward-looking statements and information contained in this news release and are encouraged to read the Company’s continuous disclosure documents which are available on SEDAR at www.sedarplus.ca.

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

SOURCE: CoTec Holdings Corp.

View the original press release on ACCESS Newswire

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