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Nuclear threats from North Korea loom quietly behind wars in Gaza and Ukraine at UNGA

While Israel’s war in Gaza and Russia’s war in Ukraine are dominating headlines at the United Nations General Assembly (UNGA), quiet but urgent concerns about North Korea and its nuclear program are being discussed behind closed doors. 

It’s an issue that is being ‘continuously brought up,’ according to a senior State Department official. It was a particular concern in Secretary of State Marco Rubio’s meetings with his Japanese and South Korean counterparts and in President Donald Trump’s recent meeting with South Korean President Lee Jae-myung.

And while the lead-up to two Trump-Kim summits dominated the president’s first term, no such meeting is on the books for his second term, according to the official. Trump will travel to South Korea in October, but he currently has no plans to stop at the Demilitarized Zone (DMZ) to meet with North Korean leader Kim Jong Un.

‘Our policy remains a complete denuclearization of North Korea,’ the official said. Kim has said he’s only open to talks if the U.S. drops the denuclearization demand. 

‘If the United States drops the absurd obsession with denuclearizing us and accepts reality, and wants genuine peaceful coexistence, there is no reason for us not to sit down with the United States,’ Kim was quoted as saying by state news agency KCNA.

Trump has also signaled an intent to sit down with Russian and Chinese leaders to come to an agreement on scaling back nuclear weapons arsenals. It’s a top priority for the administration, according to the official, but the ball is in China’s court to start being honest about its nuclear arsenal. 

‘The first thing that would need to happen is for the Chinese to acknowledge and be more transparent about its own programs, in order to understand what direction within the discussion, what objectives, could be obtained.’

The Defense Department has assessed that China has around 600 nuclear warheads as of mid-2024, but is rapidly increasing its supplies and may have over 1,000 by 2030. 

Open source estimates place North Korea’s arsenal at about 50 warheads, with fissile material for 70–90 warheads total. 

The official also confirmed that reviews of the AUKUS (Australia-United Kingdom-U.S.) submarine pact are under way across all partner governments, with updates expected this fall. Those talks, along with the October summits President Trump plans to attend in Asia, are expected to set the tone for the next phase of U.S. engagement in the region.

With North Korea showing no sign of returning to talks and China stonewalling on transparency, U.S. officials say the administration is leaning on allies and doubling down on deterrence. 

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Federal judge dumps Peter Strzok lawsuit over FBI firing for anti-Trump texts

A federal judge rejected former FBI agent Peter Strzok’s claims that his termination from the federal law enforcement agency ran afoul of the U.S. Constitution.

Strzok was fired during President Donald Trump’s first term.

He sent anti-Trump text messages while leading the Crossfire Hurricane investigation into Trump’s campaign and Russia.

‘At this point, only two issues remain to be resolved: did plaintiff’s termination violate the First Amendment, and did his termination violate the Fifth Amendment guarantee against the deprivation of property without due process of law?’ an order signed by Judge Amy Berman Jackson explained.

Jackson was nominated to the U.S. District Court for the District of Columbia by President Barack Obama.

The court found that Strzok’s ‘interest in expressing his opinions about political candidates on his FBI phone at that time was outweighed by the FBI’s interest in avoiding the appearance of bias in its ongoing investigations of those very people, and in protecting against the disruption of its law enforcement operations under then-Director Wray’s leadership.’

‘As to Count Two, the due process claim is predicated on a misrepresentation of the facts and distortion of the chronology,’ the document declares. 

‘Once one gets past the rhetoric and considers the undisputed factual record, it becomes clear that there is no evidence to support a finding that plaintiff entered into a contract … that gave him a property interest in his tenure before the Deputy Director exercised his authority to terminate him, or that plaintiff lacked notice and an opportunity to be heard before his fate was decided,’ the document notes.

‘The full Memorandum Opinion has been docketed under seal,’ the order notes, adding that in the court’s perspective, ‘nothing in the Memorandum Opinion needs to remain sealed, and therefore, the parties must inform the Court by September 30, 2025 of whether they have any objection to the Court’s unsealing the Memorandum Opinion in its entirety, and if so, specifying what portions they believe should remain under seal and why.’

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5 Biggest Pharma Stocks in 2025

The pharmaceutical industry is a major player in the overall life science sector, responsible for developing and manufacturing the majority of prescription drugs.

Companies in this space are constantly researching and creating innovative treatments for various medical conditions. In recent years, there has been a particular focus on developing new treatments for diabetes, weight loss and cancer.

With global spending on medicine using list prices growing by 38 percent over the past five years and a forecasted increase of 35 percent through 2029, there is an opportunity for investors to gain exposure to the growth potential of this industry while also benefiting from the diversification and stability provided by established companies.

1. Eli Lilly and Company (NYSE:LLY)

Market cap: US$715.16 billion

Founded in 1876, Eli Lilly and Company employs approximately 10,000 individuals for research and development in seven countries and has products marketed in 110 countries, including therapies for diabetes, cancer, immune system diseases and a wide range of mental health conditions.

The company also has drugs in development for various medical conditions, such as skin ailments, cancers, Crohn’s disease, diabetes, obesity and Alzheimer’s disease.

So far in 2025, Eli Lilly has made a number of portfolio expanding acquisitions of private and public biotechnology companies. This includes private biotechnology companies Scorpion Therapeutics, which develops small molecule precision oncology therapies; SiteOne Therapeutics, which develops non-opioid medicines for pain management; and Verve Therapeutics, which develops genetic medicines for cardiovascular disease.

Early in the year, Eli Lilly announced plans to more than double its US manufacturing investment since 2020 to more than US$50 billion, representing the largest pharmaceutical manufacturing investment in the country’s history.

In mid-September, as part of this investment, the company shared plans to build a US$5 billion manufacturing facility in the state of Virginia. The facility will develop active pharmaceutical ingredients for cancer, autoimmune and other advanced therapies. The same month, Eli Lilly reported plans to build a new US$6.5 billion facility in Texas to manufacture small molecule synthetic medicines.

2. Johnson & Johnson (NYSE:JNJ)

Market cap: US$419.6 billion

Johnson & Johnson operates on a massive scale and encompasses various segments through its subsidiaries. Its primary pharmaceutical subsidiary is Janssen Pharmaceuticals, which focuses on cardiovascular disease and metabolism, infectious diseases and vaccines, neuroscience, oncology, immunology and pulmonary hypertension.

Johnson & Johnson acquired a clinical-stage biopharmaceutical company called Ambrx Biopharma last year, which will allow the company to further develop antibody-drug conjugates, expanding its offering of targeted oncology therapies. This year, the company acquired Intra-Cellular Therapies in a US$14.5 billion deal, which includes lumateperone, the first and only treatment approved by the US Food and Drug Administration (FDA) for bipolar I and II depression as an adjunctive and monotherapy.

In March, Johnson & Johnson announced it plans to invest more than US$55 billion in manufacturing, research and development and technology in the US over the next four years, up 25 percent over the previous four years.

3. AbbVie (NYSE:ABBV)

Market cap: US$394.05 billion

AbbVie is a global biopharmaceutical company that discovers and delivers innovative medicines and solutions to address complex health issues. The company has identified five areas of focus where it believes it can make a significant impact in improving treatments for patients: immunology, oncology, neuroscience, eye care and aesthetics.

A few of AbbVie’s drugs garnering FDA approval this year include upadacitinib, the first and only oral JAK inhibitor approved for the treatment of giant cell arteritis in adults; telisotuzumab vedotin-tllv for the treatment of adult patients with certain types of non-squamous non-small cell lung cancer; and glecaprevir/pibrentasvir, the first oral eight-week pangenotypic treatment option approved for people with acute or chronic hepatitis C.

In August, AbbVie announced it will build a US$195 million facility to increase its active pharmaceutical ingredient production capacity in the US. The spend is part of the company’s plan to invest more than US$10 billion in the US pharma market over the next 10 years announced in April.

4. Novo Nordisk (NYSE:NVO)

Market cap: US$270.84 billion

Danish company Novo Nordisk has demonstrated a commitment to addressing various health conditions, such as type I and II diabetes, obesity, hemophilia and growth disorders, and markets its therapies in 170 countries. The company’s main product is the diabetes drug Ozempic, which is also marketed for obesity under the name Wegovy.

It has been conducting research into a new obesity treatment called amycretin, which targets both GLP-1 and amylin receptors. In June, Novo Nordisk announced that amycretin will enter Phase 3 development in weight management in the first quarter of 2026.

In September, the company presented top-line Phase 3 REDEFINE 1 clinical data for another obesity drug, cagrilintide. The drug candidate will move into the more advanced Phase 3 RENEW clinical program in Q4 2025.

Novo Nordisk has a working partnership with Microsoft (NASDAQ:MSFT) through which it uses the tech giant’s artificial intelligence (AI), cloud and computational services to facilitate the discovery of new drugs and treatments.

5. Abbott Laboratories (NYSE:ABT)

Market cap: US$237.78 billion

Abbott Laboratories creates a wide range of products, from diagnostics to medical devices to branded generic pharmaceuticals. Its medical devices focus on segments including vascular diseases, diabetes and optometry.

The company’s Tendyn transcatheter mitral valve replacement system received FDA approval in May. The system is designed to treat people with mitral valve disease without the need for open heart surgery.

In August, Abbott’s Navitor transcatheter aortic valve implantation system was granted the CE Mark designation in Europe, as was its Esprit BTK dissolving stent system. The Navitor system is designed to treat people with symptomatic, severe aortic stenosis who are at low or intermediate risk for open-heart surgery, while the Esprit BTK system allows treatment of patients with peripheral artery disease below the knee.

FAQs for pharmaceutical stocks

What does the pharmaceutical industry do?

The pharmaceutical industry encompasses a variety of companies that have different — although sometimes overlapping — roles to play. The most famous players are the ‘Big Pharma’ companies. These giants often have a variety of subsidiaries, large pipelines and many products in their portfolios.

There are also smaller pharma R&D companies, which sometimes get acquired by larger firms if their work seems promising. Companies in these categories research, develop and bring to market drugs aimed at filling unmet needs, or helping people who are resistant to pre-existing treatments.

Once patents run out on prescription drugs, generic drug manufacturers create much cheaper generic versions. Wholesale companies also play a large role in the pharma sector. According to Common Wealth Fund, wholesalers have four areas through which they affect drug buying and distribution: ‘setting generic drug prices, leveraging list price increases, competing in specialty drug distribution, and mitigating or exacerbating drug shortages.’

What is the big pharma business model?

Big Pharma companies have a fairly consistent business model. Often, the company’s R&D team will slowly develop a new drug through many stages of testing to prove the drug’s efficacy, safety and necessity.

If all trials are completed successfully, the company will apply to government organizations such as the FDA, which must approve the drug before it can be mass produced, marketed and sold. Companies can skip a number of these steps by acquiring smaller companies, or through in-licensing, which results in two companies sharing the burden of a drug’s development through to commercialization. However, it’s worth noting that large pharma companies have many drugs in their pipelines at any given time, and many don’t make it to approval.

Once a drug is approved by the relevant health organization, it can be marketed and prescribed. Because patents expire after 20 years, companies lobby and advertise to try to get as many sales as possible during that window.

Who are the ‘Big 3’ in pharma?

The ‘Big 3’ in pharma refers to the three largest wholesalers: Cencora (NYSE:COR), Cardinal Health (NYSE:CAH) and McKesson (NYSE:MCK). Collectively, those three companies account for over 95 percent of wholesale prescription drug distribution in the US.

Which country is number one in the pharma industry?

The US is the top pharmaceutical country, with six of the top 10 pharma companies by revenue headquartered in the nation. The country is also in the lead when it comes to consumer spending on pharmaceuticals — this is due to the high cost of brand-name drugs. Aside from that, the US is the top country globally for pharma R&D spending, with 48 percent of global biopharma R&D companies headquartered there. Together they account for 55 percent of global R&D investments and 65 percent of funding at the development-stage.

What is the future of pharmaceuticals?

Pharmaceutical companies will have to adapt to changing times. The world is shifting, with economic woes, geopolitical disruptions and supply chain concerns affecting nearly every sector. Innovation continues to accelerate as well, and the medical landscape has changed in the wake of COVID-19. Additionally, the US government is making moves to address the astronomical prices of prescription medicine as the industry comes under more scrutiny.

For a look at what is else is effecting the market, read our 2025 Pharma Market Forecast.

Are pharmaceutical stocks risky?

While established players like the Big Pharma and wholesale companies discussed above should be relatively consistent, small companies are make-or-break depending on whether their drugs are successful. This means that investors could see much higher returns compared to large companies, but run the risk of taking massive losses in the case of failure.

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

This post appeared first on investingnews.com

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Top 10 Countries for Natural Gas Production

Natural gas is an important energy fuel, even as the world transitions to a carbon-free economy. When investing in this industry, it’s key to know the ins and outs of natural gas production by country.

Global natural gas production edged up 1.2 percent in 2024 to reach 4.12 trillion cubic meters, led by the United States, Russia, Iran and China, which together supplied more than half the world’s natural gas production, according to data from the Energy Institute.

European production extended its long-term decline, weighed down by lower volumes from Norway, the UK and the Netherlands.

On the consumption side, demand grew 2.5 percent — its fastest pace in years — with Asia Pacific economies such as China, Japan and India driving nearly half the gains, while Europe saw its first demand uptick since 2021.

“Natural gas continued to displace oil and oil products in various sectors, supported by policies, regulations and market dynamics,” the International Energy Agency’s (IEA) Global Energy Review 2025 reads.

Read on for a look at the top 10 natural gas-producing countries in 2024 based on the most recent data from the Energy Institute’s annual Statistical Review of World Energy.

1. United States

Production: 1.03 trillion cubic meters

The US is by far the largest producer of natural gas in the world with production of 1.03 trillion cubic meters of natural gas in 2024, representing nearly a quarter of global natural gas production.

Its output has increased by more than 300 billion cubic meters in the past decade owing to the increasing cost of coal and advancements in extraction technology such as horizontal drilling and hydraulic fracturing, also known as fracking.

In addition to being a major natural gas producer, the US is also the biggest consumer of the fuel. In 2024, US demand for natural gas totaled 902.2 billion cubic meters, up from 2023’s 888.4 billion cubic meters, according to the Energy Institute.

In 2024, the US exported a record volume of liquified natural gas (LNG) at 115.2 billion cubic meters, following a 10th consecutive year of record production. While US exports grew just 0.4 percent year-over-year, they have exploded over the last decade from 2015’s 700 million cubic meters.

High international demand and steady domestic consumption growth will keep the US a net exporter of petroleum products and natural gas through 2050. Despite the shift to renewable electricity generation, US natural gas production is expected to rise due to increased international demand for liquefied natural gas, according to the US EIA’s Annual Energy Outlook 2023.

In early 2025, in response to US tariff threats from new President Donald Trump, China slapped a 15 percent tariff on US LNG imports. According to the Financial Press, the US accounted for about 6 percent of China’s LNG consumption in 2024.

Natural gas is expected to play a growing role in the US energy mix through 2050, even as oil and coal consumption decline, according to S&P Global Commodity Insights. Analysts point to coal-to-gas substitution as a key driver of the US transition, while scalability and cost barriers continue to slow a direct leap from coal to renewables.

“By 2050, gas shall be the only fossil fuel with a potential increase in the energy mix for the US, China, and India,” the S&P report notes.

2. Russia

Production: 629.9 billion cubic meters

The second largest exporter and producer of natural gas in the world, Russia produced 629.9 billion cubic meters of natural gas in 2024. The country’s state-owned energy group Gazprom its its largest natural gas producer, with gas company Novatek taking second place.

Russia also holds the largest-known natural gas reserves on the planet, at just under 20 percent as of 2020.

“Historically, production was concentrated in West Siberia, but investment has shifted in the past decade to Yamal and Eastern Siberia and the Far East, as well as the offshore Arctic,” according to the International Energy Agency.

Europe’s rejection of Russian natural gas products led to a 41 percent decline in revenues for the country’s producers in the first three quarters of 2023, reported Reuters.

While Russia remains the world’s second largest natural gas producer and the second largest exporter of the fuel, the EU is phasing out Russia-sourced natural gas by 2027 due to the country’s war on Ukraine. In June 2025 the EU introduced a proposal for a legal framework for accomplishing the 2027 goal.

EU imports of Russian natural gas have plunged by more than two-thirds since 2020, falling from 14.7 to 4.4 billion cubic feet per day in 2024, the EIA reported. Additionally, the EU reported that Russia only supplied 14 percent of its member countries’ natural gas requirements in 2023, down from 45 percent in 2021.

Despite the conflict between Russia and Ukraine, the latter has remained a crucial corridor for Russian natural gas into the EU. In September 2024, Russian natural gas exports that traveled through Ukraine totaled 1.26 billion cubic meters.

To offset lost European demand, Russia has pivoted its energy export trade, with China and India propping up its natural gas export market. The country has expanded gas exports eastward via the Power of Siberia 1 pipeline, which has been running near full capacity since China’s segment came online in late 2024. Plans for a second pipeline remain stalled, with Moscow and Beijing yet to agree on terms despite years of negotiations.

Russia is also set to supply Iran with natural gas after it signed a long-term natural gas supply deal in October 2024 in which Gazprom committed to supplying 109 billion cubic meters of gas to Iran annually.

3. Iran

Production: 262.9 billion cubic meters

Iran, the third largest natural gas-producing country and the largest in the Middle East, produced 262.9 billion cubic meters of natural gas in 2024, representing about 6.4 percent of global output. The Middle Eastern nation ranks second in terms of natural gas reserves.

While its natural gas infrastructure is far behind the top two natural gas producers, Iran has increased its natural gas production significantly in the past decade to become the Middle East’s largest producer. Iran and Qatar share the world’s largest natural gas field. Iran’s portion is known as South Pars and Qatar’s is North Dome.

Iran plans to boost its production capacity by 30 percent within five years, supported by an US$80 billion investment in its gas fields, according to the nation’s Oil Minister Javad Owji. However, Qatar’s expansion of liquefied natural gas production in North Dome poses a challenge to Iran’s output ambitions.

In mid-2025, Iran partially suspended gas output at the South Pars field after an Israeli airstrike damaged one of its key processing units (Phase 14). The strike shut down approximately 12 million cubic meters per day of gas production. While production has reportedly resumed, it is unclear if operations are at full capacity.

Turkey and Iraq are major importers of Iranian natural gas, while Turkmenistan and Armenia have swap deals with Iran. Iran signed a long-term deal to import 109 billion cubic meters of gas from Russia annually in late 2024, with Russia paying for construction of the necessary pipeline.

4. China

Production: 248.4 billion cubic meters

China’s natural gas production reached 248.4 billion cubic meters in 2024, an all-time record.

In recent years, China’s government has incentivized the transition from coal to natural gas to reduce air pollution and meet emissions targets. In its 14th Five-Year Plan, the government set an annual natural gas production target of 230 billion cubic meters by 2025, a goal the country met two years early in 2023. Between 2014 and 2024, natural gas production in China grew by 89 percent from 131.2 billion cubic meters.

China still relies on imports to meet about half of its demand. Australia, Turkmenistan, the US, Malaysia, Russia and Qatar are some of its biggest providers. However, it has yet to meet its natural gas storage target of 55 billion to 60 billion cubic meters, with only 26.7 billion cubic meters by the end of 2024, S&P Global reports.

Unconventional gas sources such as shale, coal-bed methane and natural gas hydrates accounts for an estimated 43 percent of China’s total gas output.

While domestic production has ticked higher, China’s LNG imports are moving the opposite direction. LNG imports fell by more than 20 percent during the first half of 2025. Rising domestic and pipeline supply is helping offset the reduced LNG inflows, with policy and infrastructure efforts aimed at shrinking reliance on imported gas.

Domestic demand has also pulled back slightly, as China’s gas demand declined by roughly 1 percent year-over-year in H1 2025.

5. Canada

Production: 194.2 billion cubic meters

Canada produced 194.2 billion cubic meters of natural gas in 2024, and the country holds 83 trillion cubic feet of proved natural gas reserves. The Western Canadian Sedimentary Basin (WCSB) is the prime source of the majority of Canada’s natural gas production. In addition to the WCSB, offshore fields near Newfoundland and Nova Scotia, the Arctic region and the Pacific coast hold significant natural gas reserves.

Canada is also a top natural gas exporter, relying exclusively on pipelines, with the US as its only trading partner. In 2022, 99 percent of all US natural gas imports came from its neighbor to the north.

In early 2025, US President Trump threatened to place 10 percent tariffs on energy imports from Canada, including natural gas. The move has led to increased calls for cross-Canada pipeline building and expansion of trade partners.

Looking to expand its trade partner list, in late June, LNG Canada shipped its first liquefied natural gas cargo to Asia from its new export facility in Kitimat, British Columbia. The terminal is a joint venture that includes Indigenous, provincial and international partners, and began operations with two liquefaction trains capable of producing 14 million metric tons per annum.

“With LNG Canada’s first shipment to Asia, Canada is exporting its energy to reliable partners, diversifying trade, and reducing global emissions ­— all in partnership with Indigenous Peoples,” Prime Minister Mark Carney said of the shipment. “By turning aspiration into action, Canada can become the world’s leading energy superpower with the strongest economy in the G7.”

His words reiterated the findings of a May 2025 report from the Fraser Institute that outlined Canada’s ability to contribute to global greenhouse gas emissions reduction through increased LNG production and exports to countries that currently rely on coal.

“As countries like China and India continue to burn coal for power, Canadian LNG offers a lower-emission alternative with the potential for major global impact,” said Elmira Aliakbari, director of natural resource studies at the Fraser Institute and coauthor of the study.

6. Qatar

Production: 179.5 billion cubic meters

Qatar is the sixth largest natural gas producer and hosts the third largest proved natural gas reserves in the world. The majority of its reserves are located in the world’s largest natural gas field, the offshore North Field, which it shares with Iran.

Qatar is the world’s second largest LNG exporter with 106.9 billion cubic meters in 2024, just above third-place Australia’s 106.8 billion.

In recent years, Qatar has made moves to capitalize further on its resources in an effort to expand its footprint in the international natural gas market. Statista reports that state-owned Qatar Petroleum is looking “to increase its LNG export market to compete with Russian LNG deliveries.”

To fulfil these aspirations Qatar is pushing ahead with expansion plans that are projected to nearly double the country’s LNG output over the next few years, raising production capacity from 77 million metric tons per annum to around 126 million by 2027.

Key to that growth is the North Field East expansion, which is set to begin partial output in mid-2026 as new LNG trains come online.

7. Australia

Production: 150.1 billion cubic meters

Australia produced 150.1 billion cubic meters of natural gas in 2024, an increase of 130 percent compared its 65.3 billion cubic meters to in 2014. Nearly all of Australia’s natural gas resources are located in the North West Shelf, with three of the basins there providing feedstock to the country’s largest gas fields, including Greater Gorgon, North West Shelf Venture and Ichthys

Australia’s LNG exports have grown exponentially over the past decade as several new production facilities have come online. The country was the third largest exporter of LNG in 2024 at 106.8 billion cubic meters.

The federal government released its Australia’s Future Gas Strategy in May 2024. The initiative focuses on ensuring energy security and supporting the transition to net-zero by 2050 by boosting natural gas production. The government plan highlights the need for new gas supplies to prevent shortages by 2028 on the east coast and 2030 on the west coast.

While supportive of the plan, Australia’s energy producers have raised concerns of potential gas supply shortfalls by the end of the decade amid global market volatility. Meg O’Neill, chair of Australian Energy Producers, highlighted that without action, Australia’s east and west coasts could face shortages by 2028 and 2030, respectively, which could drive up energy prices.

In March 2025, Exxon Mobil (NYSE:XOM) and Woodside Energy Group (ASX:WDS,NYSE:WDS) announced a US$222 million investment to drill five new wells in the Gippsland Basin’s Turrum and Turrum North fields, aiming to extend Southeastern Australia’s gas output beyond 2030.

The Turrum Phase 3 project underscores efforts to sustain domestic supply from the aging Bass Strait, even as production declines. It follows other recent approvals by the joint venture to bolster Australia’s gas availability amid tightening forecasts.

8. Saudi Arabia

Production: 121.5 billion cubic meters

The eighth largest natural gas-producing country, Saudi Arabia has seen its output increase by 25 percent since 2014, reaching a record 121.5 billion cubic meters in 2024.

Mordor Intelligence reports that this production growth was due in large part to increased development of standalone natural gas wells. State-run Saudi Aramco has awarded contracts to energy companies looking to develop the country’s largest unconventional gas field, Jafurah, located near the Persian Gulf.

Currently the country does not export its natural gas production; however, the government plans to begin natural gas exports by 2030. According to the EIA, Saudi Arabia is working to replace “crude oil, fuel oil, and diesel-powered electric generators with natural gas and renewable energy generation by 2030, which will likely increase domestic natural gas demand.”

In late 2023, Saudi Arabia began investing in the LNG market with Saudi Aramco buying a stake in MidOcean Energy, which is set to acquire interests in four Australian LNG projects. In July 2024, Aramco awarded contracts worth US$12.6 billion to expand production in the Jafurah field.

The Jafurah project is central to Aramco’s goal of boosting gas output by 60 percent by 2030.

This was supported by an August announcement that Aramco signed an US$11 billion deal with a consortium led by Global Infrastructure Partners, part of BlackRock to lease and lease back its Jafurah gas processing facilities for 20 years.

A new subsidiary, Jafurah Midstream Gas Company, will manage the assets, with Aramco retaining a 51 percent stake and exclusive rights to process gas from the field.

9. Norway

Production: 113.2 billion cubic meters

Norway is the world’s ninth largest natural gas producer. Norway’s natural gas production reached a record-high of 116 billion cubic meters in 2023, but contracted to 113.2 billion cubic meters in 2024.

The Scandinavian country has understandably replaced Russia as the major supplier to the European natural gas market. In 2023, Norway reportedly accounted for 30.3 percent of natural gas supplied to the EU.

Norway’s natural gas companies have ramped up production in response to increased demand. In mid-2023, the government gave the green light to 19 oil and gas extraction projects in the country.

In early 2024, some concern arose that the industry may face headwinds from a proposal by a climate change committee to temporarily suspend new licenses while the government decides on a climate strategy. However, in May 2024 the government offered licenses for 37 new blocks and emphasized the industry’s importance to Norway and Europe.

Near-term gas production is forecasted to contract slightly in 2025 according to the Norwegian Budget Bill released in early October 2024.

In June 2025, Shell (NYSE:SHEL) began operating two sub-sea compressors at the Ormen Lange field in the Norwegian Sea, a move expected to lift gas recovery rates from 75 percent to 85 percent.

Located 120 kilometers offshore on the seabed and linked to the Nyhamna processing plant, the compressors could enable the extraction of an additional 30 billion to 50 billion cubic meters of gas.

10. Algeria

Production: 94.7 billion cubic meters

Rounding out the top 10 natural gas-producing countries is Algeria, which produced 94.7 billion cubic meters of natural gas in 2024. The country’s output decreased year-over-year from 101.5 billion cubic meters in 2023. In 2022, nearly 85 percent of the country’s exports went to feed Europe’s natural gas demand.

In late May 2024, Algeria signed two key hydrocarbon deals with US firms, one with ExxonMobil and the other with Baker Hughes (NASDAQ:BKR), to boost its natural gas production and enhance exports to Europe. This comes as European nations seek alternatives to Russian gas amid rising demand.

Despite the year-over-year production contraction, Algeria aims to ramp up its natural gas output to 200 billion cubic meters by 2030, according to Energy and Mines Minister Mohamed Arkab.

Key to reaching this target will be heavy investment with US$36 billion earmarked for exploration and production. The strategy includes expanding infrastructure at the Hassi R’Mel field with new compression stations and leveraging recently discovered fields to boost both domestic supply and export capacity.

Algeria reportedly began discussions with ExxonMobil and Chevron (NYSE:CVX) in August 2025 for a landmark deal to develop its natural gas reserves, including shale resources, in a move seen as part of the country’s efforts to attract international investment.

The potential agreement would mark the first time US majors have gained direct access to Algeria’s reserves, introducing advanced fracking techniques to unlock shale gas deposits domestic operators have been unable to access.

FAQs for gas investing

What is natural gas made of and how is it formed?

Natural gas is a mixture of methane and other naturally occurring gases. As fossil fuels, both crude oil and natural gas are formed via the same geological process. It isn’t surprising then that the two materials are often found together. Natural gas is the product of ancient decomposed organic matter that mixed with sediment, became buried and was subject to immense pressure and heat over millions of years.

How is natural gas produced?

Natural gas is extracted via wells drilled into subsurface rock formations, or via hydraulic fracturing or ‘fracking’ technology from shale formations. Following extraction, natural gas is separated from other liquids, including oil, hydrocarbon condensate and water. This separated gas then needs to be further processed to meet specific requirements for end-use quality and safe pipeline transmission.

What is natural gas used for?

Natural gas is well known as a fuel for heating, generating electricity and powering vehicles. However, it’s also used to manufacture various products, such as vinyl flooring, carpeting, Aspirin and artificial limbs; in addition, it’s a key component in the production of ammonia.

Is natural gas a clean energy?

According to the EIA, burning natural gas for power emits fewer greenhouse gas emissions and pollutants than other fossil fuels, since it burns more easily and contains fewer impurities. The EIA also notes that natural gas produces less carbon dioxide per equivalent amount of heat production.

Is natural gas cleaner than coal?

Although natural gas is a fossil fuel and was formed under the same conditions, it is often pegged as a ‘cleaner’ energy option than coal or oil. The EIA states that, ‘burning natural gas for energy results in fewer emissions of nearly all types of air pollutants and carbon dioxide than burning coal or petroleum products to produce an equal amount of energy.’

How much natural gas is left in the world?

Natural gas is not an infinite, renewable resource; however, its hard to determine how many untapped sources are left in the world. According to one estimate, natural gas reserves are sufficient to last another 53 years at current consumption rates. That figure doesn’t take into account known natural gas resources under development or those yet to be discovered in underexplored regions.

How did the Ukraine war affect gas?

Russia was a leading supplier of natural gas to Europe prior to the country’s invasion of Ukraine, representing about 40 percent of the region’s supply. As a result of the war, energy prices shot up both in Europe and globally. According to S&P Global, the war has “accelerated” the globalization of the natural gas market as Europe turns to LNG. In the midst of this changing landscape, the US has become the world’s largest exporter of LNG as it stepped up shipments to Europe.

Can Europe survive without Russian gas?

The EU is working to phase out Russian natural gas exports by 2027. The growing global LNG market allows flexibility for European countries looking to source natural gas supply from producers as close to home as Norway (Europe’s biggest gas supplier), other major natural gas suppliers in North Africa or from the world’s largest natural gas producer, the US.

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

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US Antimony Wins US$245 Million Pentagon Deal to Supply Critical Mineral

United States Antimony (NYSEAMERICAN:UAMY) has secured a US$245 million sole-source contract from the US Defense Logistics Agency to supply antimony ingots.

The five year ‘indefinite delivery indefinite quantity’ agreement was finalized after months of negotiations and makes US Antimony the exclusive supplier of antimony ingots to the National Defense Stockpile.

The company confirmed that first deliveries are expected this week. News of the award sent its shares up 17.8 percent in New York trading, boosting its market value to about US$975 million.

“This is the kind of knowledge that is only gained through decades of execution and know-how,” Chairman and CEO Gary C. Evans said in the Tuesday (September 23) announcement. “USAC has some of the most experienced antimony chemists, metallurgists and other professionals on its team in the global landscape.”

Evans added that the expertise of Gus Gustavsen, the company’s antimony division president, was central to the award. Gustavsen has more than 50 years in the field.

Washington is moving to strengthen supply chains for materials considered essential to defense and energy security. China dominates global antimony production, leaving the US reliant on imports in recent years. By securing a sole-source deal, the Pentagon has effectively locked in a domestic pipeline for a mineral it deems strategically important.

US Antimony said it is working to broaden its ore supply beyond imports.

Mining began this month on its acreage in Alaska, where early results indicate high-grade deposits that could support efficient processing and eventually supply military-grade products, including antimony trisulfide.

The Alaska development marks a shift for US Antimony, which for decades has depended heavily on foreign ore. The company emphasized that many competing sources, both in the US and abroad, are unlikely to meet military standards and remain years away from commercial production.

“We don’t believe the low quality of those antimony ores controlled by others will meet the stringent requirements of our U.S. Military,” the company reaffirmed.

The US Geological Survey lists antimony as one of 50 minerals critical to national security and economic stability.

The Defense Logistics Agency has been tasked with replenishing the National Defense Stockpile, which in recent years has drawn down to its lowest levels since the Cold War.

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

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Bitcoin Could Join Gold on Central Bank Balance Sheets by 2030, Deutsche Bank Says

Bitcoin may soon share space with gold on central bank balance sheets, according to a new report from Deutsche Bank (NYSE:DB) that frames the cryptocurrency as an emerging reserve asset.

“There is room for both gold and Bitcoin to coexist on central bank balance sheets by 2030,” Marion Laboure and Camilla Siazon, both analysts at the firm, wrote in a note published on Monday (September 22).

Deutsche Bank’s report points to recent diversification trends in global central bank reserves.

The US dollar is still the dominant reserve currency, but it accounted for only 43 percent of holdings in 2024, down from 60 percent at the start of the century. Meanwhile, China reduced its US treasury holdings by US$57 billion last year.

Against this backdrop, both gold and Bitcoin are being positioned by market participants as hedges against inflation, geopolitical risk and questions about monetary sovereignty.

Gold has been a standout performer in 2025. The precious metal surged to a record of US$3,788.33 per ounce on Tuesday (September 23), capping a year-to-date rally of more than 40 percent and its largest gain in over four decades.

Central banks have been a driving force behind the rally, with a recent World Gold Council survey showing that 43 percent of monetary authorities plan to increase their gold reserves in the next 12 months.

Nearly all respondents, tallying 95 percent, expect global central bank gold reserves overall to continue rising.

Bitcoin, meanwhile, has faced short-term pullbacks, but has shown longer-term resilience. After topping US$123,500 in August, the cryptocurrency slipped below US$113,000 at the start of the week.

Yet analysts at Deutsche Bank highlight that its 30 day volatility hit historic lows even during record-breaking price runs, a sign that Bitcoin may be decoupling from its speculative reputation.

That adoption is evident in corporate balance sheets as well.

More than 180 companies have added Bitcoin or other crypto assets to their holdings, often modeling their strategy on Strategy’s (NASDAQ:MSTR) high-profile accumulation, led by Executive Chairman Michael Saylor.

Prominent public figures have also lent support. Eric Trump told Yahoo Finance ahead of last week’s interest rate cut from the US Federal Reserve that a reduction could help crypto “skyrocket,” framing digital assets as a key hedge.

While Deutsche Bank’s analysts acknowledge the risks tied to Bitcoin’s sudden swings, they said regulation and shifting macroeconomic conditions could accelerate its path to legitimacy.

The bank draws parallels between Bitcoin’s trajectory today and gold’s rise in the 20th century, suggesting that skepticism could eventually give way to acceptance. While the writers admit that neither asset is likely to dethrone the dollar, gold and Bitcoin could serve as complementary tools for monetary authorities seeking diversification.

Overall 2025 has been “excellent” for both gold and Bitcoin even if their price movements diverge.

“So long as we are human, Bitcoin and other alternative assets will likely continue to compete for our attention,” the Deutsche Bank note concludes.

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

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Questcorp and Riverside Maiden Drill Program Advancing at Union Project with Three of Five Targets Completed

Questcorp Mining Inc. (CSE: QQQ,OTC:QQCMF) (OTCQB: QQCMF) (FSE: D910) (the ‘Company’ or ‘Questcorp’) is pleased to announce that it’s Maiden drilling program at the La Union gold and silver Project in Sonora, Mexico, is progressing on track and on budget, with three of the five main targets now having some initial drilling and work continuing toward completion of the current program. This update follows the Company’s August 6, 2025 announcement marking the start of the program and August 19 and September 10 news releases chronicling the progress of the program.

Saf Dhillon, President and Chief Executive Officer, states: ‘The maiden drill program has been indicating consistency with past mining, and targets are progressing with positive exploration drilling so far. The drilling is intersecting more quartzite than expected which is favorable for fracture-controlled mineralization. The property Operator, Riverside operations team is handling the current exploration program working with the local rancher and the drilling company to efficiently complete the first phase of this exploration program.’

The first hole at the Union Mine target was drilled southeast beneath historic workings, cutting through the Clemente and Caborca formations-both key host units for past mining at Union as described in the filed NI 43-101 report on SEDAR+ by Questcorp Mining (https://www.sedarplus.ca/csa-party/records/document.html?id=48299afdea2a73385e0513ce830753e11ddf957ee61888b81d46e76fa281ac17).

The hole ended in the Caborca Formation, encountering the distinctive microconglomeratic carbonate unit that historically hosted mineralization at the bottom of the Union Mine. Samples from this hole have been delivered to Bureau Veritas in Hermosillo, Sonora, for gold fire assay, with pulps to be sent to Vancouver, Canada, for ICP-MS analysis with 4-acid digestion to determine silver, base metal, and multi-element values. This consistent analytical approach has been applied since the outset of the Union program to ensure comparability across results.

Drilling then moved to the northern part of the project, testing two target areas: the El Cobre Mine area and the North Union Mine area. Here, holes were oriented perpendicular to stratigraphy and toward interpreted feeder zones along pre-mineral fault structures, primarily within the Clemente Formation. Drilling in these areas has intersected more quartzite than initially modeled, with extensive hematitic oxides-an encouraging sign for potential gold mineralization, possibly linked to sulfides that have been oxidized through supergene weathering. Historic mining in the district targeted oxides only, leaving sulfide zones untested. Riverside plans to evaluate this potential beneath past workings across four target areas: Union Mine, El Cobre, North Union, and Famosa.

The program has now moved south to the Famosa target, where two initial holes are planned to test beneath and along strike from historic workings toward a steeply west-dipping, north-south-trending fault structure, as well as into host rocks on either side of this major structural feature. Famosa produced gold historically, with reported grades exceeding ½ oz/ton Au in archived records referenced in the NI 43-101 report. The Company is encouraged by the target’s potential and is eager to advance drilling here.

Once this initial campaign is completed, follow-up work will integrate assay results, ongoing surface programs, additional induced polarization (IP) surveys, and refined geological interpretations based on stratigraphy and structure observed in drilling. The greater-than-expected quartzite content in the Clemente Formation supports the evolving model of fracture- and quartz-pyrite veinlet-hosted gold mineralization, which will help sharpen targeting at the Union Project. Core from all drilling has been logged, saw-cut, and half-core samples sent for assay, with remaining halves retained for reference and cataloging.

The Company looks forward to completing the Famosa drilling, receiving the pending assay results, and providing further updates as this program progresses.

Figure 1. Geologic map with the tenure of the Union internal concession shown in pink. Manto and chimney type CRD targets are shown as red polygons. Riverside now controls all mineral tenures on this map. The drill program will focus on the Union Mine and areas north of the Union Mine with the initial drill work.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10197/267723_25b092fc440cbaba_001full.jpg

Figure 2. Cross section looking west with conceptual drill targets and schematic drillhole traces. Assays from Riverside’s sampling of rock dump materials from the two mine areas are labeled in black. Red areas are interpreted as manto and chimney target bodies that are now well defined and drill ready. Assays shown on figures 1 and 2 have been previously released and disclosed as summarized below the geochemical QA/QC and in published NI 43-101 Report that Questcorp published 2025 on SEDAR+.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10197/267723_25b092fc440cbaba_002full.jpg

Qualified Person & QA/QC:

The technical content of this news release has been reviewed and approved by R. Tim Henneberry’, P. Geo (BC) a Director of the Company and a Qualified Person under National Instrument 43-101.

Rock samples from previous exploration programs discussed above at the Project were taken to the Bureau Veritas Laboratories in Hermosillo, Mexico for fire assaying for gold. The rejects remained with Bureau Veritas in Mexico while the pulps were transported to Bureau Veritas laboratory in Vancouver, BC, Canada for 45 element ICP/ES-MS analysis using 4-acid digestion methods. A QA/QC program was implemented as part of the sampling procedures for the exploration program. Standards were randomly inserted into the sample stream prior to being sent to the laboratory.

About Questcorp Mining Inc.

Questcorp Mining is engaged in the business of the acquisition and exploration of mineral properties in North America, with the objective of locating and developing economic precious and base metals properties of merit. The company holds an option to acquire an undivided 100-per-cent interest in and to mineral claims totalling 1,168.09 hectares comprising the North Island copper property, on Vancouver Island, B.C., subject to a royalty obligation. The company also holds an option to acquire an undivided 100-per-cent interest in and to mineral claims totalling 2,520.2 hectares comprising the La Union project located in Sonora, Mexico, subject to a royalty obligation.

ON BEHALF OF THE BOARD OF DIRECTORS,

Saf Dhillon
President & CEO

Questcorp Mining Inc.
saf@questcorpmining.ca
Tel. (604-484-3031)

Suite 550, 800 West Pender Street
Vancouver, British Columbia
V6C 2V6.

Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding completion of survey work at the North Island Copper project. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/267723

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Prismo Metals Receives High Ag and Cu Samples at Silver King with Multiple Overlimit Assays Pending.

(TheNewswire)

Vancouver, British Columbia, September 24th, 2025 TheNewswire – Prismo Metals Inc. (the ‘ Company ‘) (CSE: PRIZ,OTC:PMOMF) (OTCQB: PMOMF) is pleased to report that it has received preliminary assay results for the first batch of twenty-three samples taken at its Silver King project located in Arizona. This assay data highlights the different types of mineralization identified in the Company’s news releases of August 28 th and September 15 th 2025 (Figure 1).

‘These assay results confirm the exploration potential at the Silver King project,’ said Dr. Craig Gibson, Chief Exploration Officer. ‘Three samples with silver values reported as greater than 200 g/t were taken from the Silver King mine dump and from the new polymetallic vein recognized in our recent exploration program. Samples with high copper values, that also exhibit important gold values, are largely from the replacement mineralization which is similar to the type of mineralization at the nearby Magma mine.’

Several of the samples have reported values that are greater than the detection limit for the analytical method used. The analytical laboratory must re-analyze these samples by a different method, and the Company is expecting to receive these overlimit assays for silver, copper, lead and zinc within about two weeks. Upon receipt of the over limit assays Prismo will issue a further news release and use this information to help prioritize targets for the further exploration, including the upcoming drilling program. Additional samples, including samples from the Ripsey Mine are currently being analyzed and results are expected in the coming weeks.

‘Much of the focus of the exploration program to date has consisted of a property wide survey of historic mines and prospects surrounding the direct Silver King workings,’ said Gordon Aldcorn, President of Prismo’. ‘ This work has expanded our geological thinking and resulted in the recognition of several new types of mineralization at the project, providing additional targets for exploration. We are presenting the assay results for each of the exploration areas, namely the new mineralized veins (polymetallic and copper), stratigraphically controlled replacement mineralization and the area around the Silver Mine. Each of the areas will be prioritized for further exploration, including drilling.   The initial phase of Prismo exploration on the Silver King project confirmed the exploration potential in several areas. Our upcoming drill program is currently in the permitting stage and is anticipated to be advanced shortly. ‘

Figure 1 . Geologic and land map of the Silver King project showing newly described polymetallic vein in magenta (Ag-Pb-Zn), copper vein in green (Cu-Ag) and stratigraphically controlled replacement mineralization in red.  The strongly altered intrusion with stock work quartz-pyrite veining is indicated by the crosshatch.

New Mineralized Veins (polymetallic and copper veins)

As previously reported in Prismo ‘ s news release of August 28, 2025, the Company geologists identified two previously undescribed veins in the area surrounding the historic glory hole developed on the original exposure of high-grade silver at the Silver King deposit.  The assay results confirm the visual inspection and indicate that there are two distinct veins, one with abundant silver, lead and zinc and the other with copper and silver values.

These veins provide additional exploration targets outside of the area of historic mine workings and may provide information on the controls to mineralization in the pipelike mineralized body.

Sample

Au g/t

Ag g/t

Cu %

Pb %

Zn %

Sb ppm

Bi ppm

Ba ppm

Hg ppm

New polymetallic vein

544509

26

0.02

0.17

0.07

562

0.1

140

0.14

544510

0.03

>200

>1.0

>1.0

>1.0

7788

0.3

>10000

12.84

Cu vein

544553

0.005

183

0.31

0.02

0.03

21.6

0.5

157

0.18

544554

0.009

198

0.29

0.01

0.03

24.5

0.6

92

0.02

544504

44

0.10

0.01

0.02

396

0.2

524

0.13

Table 1. Assay results for selected samples from newly identified veins at the Silver King project.

Stratigraphically Controlled Replacement Mineralization

Several samples were taken along the stratigraphic horizon that hosts replacement and skarn mineralization in numerous small workings. Several samples assayed more than 1% copper and generally contain elevated gold values.

Figure 2. Copper assays for samples taken at the Silver King project.

The m ineralization in this area is similar to that at the Magma mine. It is exposed in several historic mine workings with abundant oxide copper minerals, mainly malachite . These were developed along a northeast dipping limestone horizon near the contact with a quartz diorite intrusion and quartzite . It is located along the same structural and stratigraphic trend of the Magma mine located 0.6 to 1.5 kilometers to the southwest. The largest occurrence, at the Black Diamond mine in the eastern portion of the claim block, was developed on a large outcrop of abundant specular hematite and malachite replacing a limestone bed (Fig. 2) .

Table 2. Assay results for selected samples from the replacement area at the Silver King project.

Sample

Au g/t

Ag g/t

Cu %

Pb %

Zn %

Sb ppm

Bi ppm

Ba ppm

Hg ppm

Cu replacement zone

544501

0.01

3

0.01

–

0.03

1.9

0.4

171

0.13

544502

0.47

7

>1.0

–

0.02

0.8

71.8

30

544505

0.03

5

0.75

–

0.01

2.9

3.2

22

0.05

544507

2.26

25

>1.0

–

0.23

0.4

33.5

12

0.01

544508

0.73

12

>1.0

–

0.28

0.4

29.1

12

0.03

544552

35

0.14

>1.0

>1.0

114

0.5

24

2.11

Figure 3 .  Map showing Silver King project and nearby mineral deposits. The Silver King deposit is located three kilometers from the Resolution Copper deposit (a joint venture between Rio Tinto and BHP) and the high-grade Magma mine, a former copper and silver producer.

Around The Silver King Mine

Two samples were taken of mineralized fragments from the dump around the Silver King workings.  Samples 544514 is composed of selected fragments of quartz vein material with variable amounts of sulfide minerals including stromeyerite (AgCuS), freibergite (CuAgSbS) and base metal sulfides.  Sample 544517 is composed of stockwork veins and breccia with about 50% wall rock fragments.  These two compositions are believed to represent the dominant types of mineralization that will be encountered in and adjacent to the pipelike Silver King mineralized body.

Table 3. Assay results for selected samples from the Silver King mine.

Sample

Au g/t

Ag g/t

Cu %

Pb %

Zn %

Sb ppm

Bi ppm

Ba ppm

Hg ppm

Silver King mine

544514

1.07

>200

0.59

0.44

0.63

337

3

>10000

1.7

544517

0.04

>200

0.09

0.26

0.43

377

0.2

>10000

15.66

Several additional elements are important in characterizing the different types of mineralization.  The high silver in the Silver King mineralization is associated with gold, copper, lead, zinc and antimony as well as barium and mercury.  The copper replacement mineralization contains important gold along with bismuth.

Figure 4. Silver assays for samples taken at the Silver King project.

Figure 5 . Gold assay values for the Silver King exploration program.

Sample

Location

Type/width (m)

E WGS84

N WGS84

544501

Black Diamond

1.0

492,698

3,687,650

544502

Black Diamond

Grab

492,633

3,687,623

544504

Collapsed shaft

Dump

492,217

3,687,916

544505

Replacement zone

0.75

492,318

3,687,521

544507

Replacement zone

Dump

492,054

3,687,431

544508

Replacement zone

0.7

491,986

3,687,334

544509

Polymetallic vein

2.0

491,833

3,687,546

544510

Polymetallic vein

Dump

491,863

3,687,565

544514

Silver King Mine

Dump

491,855

3,687,907

544517

Silver King Mine

Dump

491,855

3,687,907

544552

Replacement zone float

Selected

491,928

3,688,043

544553

Silver King Mine

0.4

492,037

3,687,881

544554

Silver King Mine

0.4

492,037

3,687,881

Table 4. Locations for samples mentioned in the text.

Exploration Next Steps

Prismo has submitted a plan of operations for the drill program with the Forest Service. The drill permit is expected by the end of October. A drill program is planned for Silver King, with a minimum of 1,000 meters initially. This first phase of the drill program is designed to test the upper half of the steeply dipping pipelike Silver King mineralized body as well as potentially mineralization adjacent to the dense stockwork that was the focus of historic mining.  Follow up drilling will expand on the initial program based on the results and also include separate targets outside of the historic mining area, such as the polymetallic vein mentioned above. The discovery of the two mineralized veins and porphyry style mineralization has resulted in Prismo evaluating a larger drill program to test those targets.

QA/QC

Samples were analyzed by SGS, an internationally recognized analytical lab, with preparation at the Tempe, Arizona facility and analyses at the Burnaby laboratory.  Prismo inserts controls samples consisting of standard pulps and coarse blanks in the sample stream for QA/QC purposes and also utilizes the labs internal control samples.

Qualified Person

Dr. Craig Gibson, PhD., CPG., a Qualified Person as defined by NI-43-01 regulations and Chief Exploration Officer and a director of the Company, has reviewed and approved the technical disclosures in this news release. The historic data presented in this press release was obtained from public sources, should be considered incomplete and is not qualified under NI 43-101, but is believed to be accurate. The Company has not verified the historical data presented and it cannot be relied upon, and it is being used solely to aid in exploration plans. References to mineralization at the Magma Mine and Resolution Copper deposit is not necessarily indicative to the mineralization on the Silver King property.

About the Silver King

Discovered in 1875, the Silver King mine was one of Arizona ‘ s most important historic producers, yielding nearly 6 million ounces of silver at grades of up to 61 oz/t.  The Silver King mine sits only 3 km from the main shaft of the Resolution Copper project — a joint venture between Rio Tinto and BHP and one of the world ‘ s largest unmined copper deposits with an estimated copper resource of 1.787 billion metric tonnes at an average grade of 1.5% copper (1) . The unique land position is fully surrounded by Resolution Copper ‘ s claim block, offering strategic upside. Selected samples from small-scale production in the late 1990s returned grades as high as 644 oz/t silver (18,250 g/t) and 0.53 oz/t gold (15 g/t), indicating that high-grade mineralization remains.

(1) https://resolutioncopper.com/about-us/

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 , , , Instagram , and

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

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.

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: delays in obtaining or failure to obtain appropriate funding to finance the exploration program at Silver King.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: the ability to raise capital to fund the drilling campaign at Silver King and the timing of such drilling campaign.

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.

Copyright (c) 2025 TheNewswire – All rights reserved.

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Apollo Silver Engages Capital Analytica for Marketing and Social Media Services

Apollo Silver Corp. (‘ Apollo Silver ‘ or the ‘ Company ‘) (TSX.V:APGO; OTCQB:APGOF; Frankfurt:6ZF0) is pleased to announce that it has engaged Triomphe Holdings Ltd., doing business as Capital Analytica (‘ Capital Analytica ‘), an arm’s-length service provider, to provide certain marketing and social media services to the Company (the ‘ Services ‘), in accordance with the policies of the TSX Venture Exchange (‘ TSXV ‘) and applicable securities laws. Based in Nanaimo, British Columbia, Capital Analytica specializes in marketing, social media, and public awareness within the mining and metals sector. Under a consulting services agreement dated September 22, 2025 (the ‘ Agreement ‘), Capital Analytica will provide social media services, capital markets consultation, and social engagement reporting for an initial six-month term for a fee of US$120,000, payable in two tranches. The engagement remains subject to the approval of TSXV.

Capital Analytica has no direct or indirect interest in the Company or its securities and has no current intention or right to acquire any such interest during the engagement, other than the potential grant of stock options in the future.

The Company is also pleased to announce the appointment of current CEO and President, Mr. Ross McElroy, to its Board of Directors, effective immediately.

Mr. McElroy is a professional geologist with over 38 years of mining industry experience, both in operational and corporate roles, having worked with major, mid-tier, and junior mining and exploration companies. His extensive international background spans from grassroots exploration to development to mining operations. He has played a key role in the discoveries of numerous world-class uranium and gold orebodies, several of which have been advanced to development and mining operations. His accomplishments have earned widespread recognition, including being named The Northern Miner’s ‘Mining Person of the Year’ (2013), and receiving PDAC’s prestigious ‘Bill Dennis Award’ (2014).

About Apollo Silver Corp.

Apollo is advancing one of the largest undeveloped primary silver projects in the US. The Calico Project hosts a large, bulk minable silver deposit with significant barite credits – a critical mineral essential to the US energy and medical sectors. Additionally, the Company has optioned Cinco de Mayo in Chihuahua, Mexico, which is host to a major CRD deposit that is both high-grade and large tonnage. Led by an award-winning management team, our growth strategy is matched only by the scale of the opportunity in front of us.

Please visit www.apollosilver.com for further information.

ON BEHALF OF THE BOARD OF DIRECTORS

Ross McElroy
President and CEO

For further information, please contact:

Email: info@apollosilver.com
Telephone: +1 (604) 428-6128

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

Cautionary Statement Regarding ‘Forward-Looking’ Information

This news release includes ‘forward-looking statements’ and ‘forward-looking information’ within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, the timing, scope, and success of planned marketing program by Capital Analytica. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as ‘anticipate’, ‘believe’, ‘plan’, ‘estimate’, ‘expect’, ‘potential’, ‘target’, ‘budget’ and ‘intend’ and statements that an event or result ‘may’, ‘will’, ‘should’, ‘could’ or ‘might’ occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-looking statements are based on the reasonable assumptions, estimates, analysis, and opinions of the management of the Company made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant and reasonable in the circumstances at the date that such statements are made. Forward-looking information is based on reasonable assumptions that have been made by the Company as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may have caused actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks associated with mineral exploration and development; metal and mineral prices; availability of capital; accuracy of the Company’s projections and estimates; realization of mineral resource estimates, interest and exchange rates; competition; stock price fluctuations; availability of drilling equipment and access; actual results of current exploration activities; government regulation; political or economic developments; environmental risks; insurance risks; capital expenditures; operating or technical difficulties in connection with development activities; personnel relations; and changes in Project parameters as plans continue to be refined. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the price of silver, gold and Ba; the demand for silver, gold and Ba; the ability to carry on exploration and development activities; the timely receipt of any required approvals; the ability to obtain qualified personnel, equipment and services in a timely and cost-efficient manner; the ability to operate in a safe, efficient and effective matter; and the regulatory framework regarding environmental matters, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information contained herein, except in accordance with applicable securities laws. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding the Company’s expected financial and operational performance and the Company’s plans and objectives and may not be appropriate for other purposes. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws .

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