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Gold exchange-traded funds, or gold ETFs, have risen in popularity among investors who want precious metals exposure.

ETFs are similar to mutual funds in that they track assets such as stocks, bonds, currencies or commodities; a key difference is that ETFs can be bought and sold on exchanges, making them widely accessible. They provide considerable flexibility in implementing various investment strategies and in building investment portfolios.

Like other ETFs, gold ETFs are traded in the same manner as individual stocks, meaning that investing in the gold ETF market is similar to trading a stock on an exchange.

There are two main types of gold ETFs: those that track the gold price and those that hold investments in gold companies.

ETFs that follow the gold price give investors access to the yellow metal by holding either physical gold bullion or gold futures contracts. It is important to keep in mind that investing in the majority of gold ETFs does not allow investors to own any physical gold — in general, even a gold ETF that tracks physical gold cannot be redeemed for actual gold, although there are a few exceptions to that.

One more thing to keep in mind is that gold ETFs that hold physical gold are taxed as collectibles in the US, giving them a higher maximum capital gains rate, which is worth noting for investors in the highest tax bracket.

The other type of gold ETF invests in gold companies, providing exposure to gold mining, development and exploration stocks, as well as gold royalty stocks.

Read on to learn about the benefits of adding gold ETFs to your portfolio, the five largest gold ETFs by total assets and five top gold miner ETFs.

In this article

    What are the benefits of gold ETFs?

    Gold ETFs are fairly common today, and are a good choice for investors who want to invest in precious metals without trading gold futures or owning physical gold, such as gold coins or bars.

    But gold ETFs are often considered a lower-risk investment, as they have a number of benefits for market participants and can open up a portfolio to diversification.

    For example, physical gold is known for being a hedge against economic and political uncertainty, and owning shares of a gold ETF that offers exposure to the gold spot price provides investors with this same security without the hassle of buying and storing the yellow metal.

    Since gold tends to rise when the US dollar is weak, purchasing a gold ETF could balance out any investment that has the potential to decline when the greenback does. Conversely, selling gold ETF holdings can be beneficial when the US dollar is making gains.

    Gold ETFs that track gold companies give investors exposure to multiple companies in the space rather than having to choose specific stocks. This is an appealing option for those who want exposure to the sector without carrying the risks of investing in an individual stock.

    Gold ETFs as a whole also offer security in that they are managed by yellow metal experts, so there is a better chance of making a profit than going it alone. Of course, it is important to keep in mind that, despite their less risky nature, gold ETFs are still affected by the rise and fall of the gold price.

    Mutual funds are often compared to ETFs, but due to the fact that mutual funds can only be bought or sold at the close of the trading day, gold ETFs become more beneficial as they can be traded whenever the stock market is open, meaning movement is more liquid and not tied down by end-of-day trades.

    Top 5 spot gold ETFs

    The five gold ETFs below offer investors exposure to the spot price of gold by holding gold bullion. These options may be worth considering when it comes to getting exposure to the yellow metal’s price movements.

    According to ETFdb.com, these gold ETFs were the largest gold ETFs by total assets as of November 13, 2025. The five largest gold ETFs all track the gold price.

    1. SPDR Gold Shares (ARCA:GLD)

    Total assets under management: US$139.14 billion
    Unit price: US$380.58

    The SPDR Gold Shares tracks the spot price of gold bullion and is determined by market forces in the 24 hour, over-the-counter market for gold. This market accounts for most global gold trade, and any quoted prices available to ETF investors reflect the latest available information.

    Physical bullion comprises 100 percent of the ETF’s holdings, and its expense ratio is 0.4 percent. It offers investors a way to invest in gold that is much less costly than purchasing, storing and insuring bars or coins.

    2. iShares Gold Trust (ARCA:IAU)

    Total assets under management: US$64.22 billion
    Unit price: US$79.04

    Like the SPDR Gold Trust, the iShares Gold Trust ETF aims to track the spot price of gold bullion. Its expense ratio is 0.25 percent, and its holdings are allocated entirely to physical gold bullion. The aim is for the trust’s value to reflect the performance of the price of gold.

    The physical gold the trust holds is in vaults in locations including New York, US; Toronto, Canada; and London, UK. Investors can purchase and sell shares through a traditional brokerage account throughout the trading day.

    3. SPDR Gold MiniShares Trust (ARCA:GLDM)

    Total assets under management: US$23.33 billion
    Unit price: US$81.89

    The SPDR Gold MiniShares Trust offers investors one of the lowest available expense ratios for a US-listed ETF backed by physical gold at 0.1 percent. This ETF represents fractional, undivided beneficial ownership interests in the trust, which holds only physical gold bullion and, from time to time, cash.

    4. Abrdn Physical Gold Shares ETF (ARCA:SGOL)

    Total assets under management: US$6.95 billion
    Unit price: US$39.43

    The abrdn Physical Gold Shares ETF aims to have its shares reflect the performance of the gold bullion price, minus the trust’s operating expenses, by holding 100 percent physical gold bars. This gold ETF has an expense ratio of 0.17 percent.

    The gold backing the fund comes only in the form of London Good Delivery gold bullion bars refined on or after January 1, 2012, and held in secure vaults in London.

    5. iShares Gold Trust Micro (ARCA:IAUM)

    Total assets under management: US$5.52 billion
    Unit price: US$41.84

    The iShares Gold Trust Micro ETP is the lowest-cost physically backed gold ETP on the market with an expense ratio of just 0.09 percent. The fund is designed to provide exposure to the day-to-day movement of the price of gold bullion. The underlying gold bars are held in vaults.

    Top 5 gold mining ETFs

    These five gold stock ETFs are designed for investors looking to gain exposure to gold miners without the risk of holding individual gold stocks.

    1. VanEck Gold Miners ETF (ARCA:GDX)

    Total assets under management: US$23.89 billion
    Unit price: US$79.18

    The VanEck Gold Miners ETF provides investors with exposure to the largest global gold producers and royalty companies involved in the precious metals space and has an expense ratio of 0.51 percent. Nearly 90 percent of its holdings have market caps above US$5 billion.

    This ETF’s top holdings include Agnico Eagle Mines (TSX:AEM,NYSE:AEM) with a weight of 7.9 percent, Newmont (NYSE:NEM,ASX:NEM) with 7.15 percent and AngloGold Ashanti (NYSE:AU,JSE:ANG) with 5.71 percent.

    Holdings are rebalanced quarterly with qualified companies having a market cap greater than US$150 million, US$1 million in average daily trading volume and a minimum of 250,000 shares traded per month.

    2. VanEck Junior Gold Miners ETF (ARCA:GDXJ)

    Total assets under management: US$8.66 billion
    Unit price: US$101.24

    Similar to the GDX above, the VanEck Junior Gold Miners ETF provides investors with exposure to gold equities; however, it has a stronger focus on smaller gold mining companies and junior stocks, which carry higher risk, but also offer greater potential returns.

    Its top holdings include Pan American Silver (TSX:PAAS) with a weight of 6.45 percent, Equinox Gold (TSX:EQX,NYSEAMERICAN:EQX) with 6.39 percent and Alamos Gold (TSX:AGI,NYSE:AGI) with 5.75 percent.

    Holdings are reviewed in March and September, and rebalanced quarterly, with qualifications matching those for the VanEck Gold Miners ETF. Like the GDX, the GDXJ has an expense ratio of 0.51 percent.

    3. iShares MSCI Global Gold Miners ETF (Nasdaq:RING)

    Total assets under management: US$2.63 billion
    Unit price: US$67.87

    BlackRock’s (NYSE:BLK) iShares MSCI Global Gold Miners ETF provides investors with exposure to a diverse portfolio of global gold mining companies within the Morgan Stanley Capital International (MSCI) index and charges an expense ratio of 0.39 percent.

    Top holdings in the fund include Newmont with a weight of 15.85 percent, Agnico Eagle with 13.33 percent and Barrick Mining (TSX:ABX,NYSE:B) with 8.92 percent.

    4. Sprott Gold Miners ETF (ARCA:SGDM)

    Total assets under management: US$611.45 million
    Unit price: US$64.64

    The Sprott (TSX:SII,NYSE:SII) Gold Miners ETF is an investment product designed to deliver returns that track the Solactive Gold Miners Custom Factors Index, which follows major gold equities listed on Canadian and US exchanges. The ETF is rebalanced quarterly and has a total operating expense of 0.5 percent.

    Top holdings in the fund include Agnico Eagle with a weight of 12.41 percent, Newmont with 8.92 percent and Wheaton Precious Metals (TSX:WPM,NYSE:WPM) with 7.83 percent.

    5. Sprott Junior Gold Miners ETF (ARCA:SDGJ)

    Total assets under management: US$280.97 million
    Unit price: US$76.56

    The Sprott Junior Gold Miners ETF has also been designed to provide results tied to its underlying index, in this case, the Solactive Junior Gold Miners Custom Factors Index, which tracks companies with a market capitalization between US$200 million and US$3 billion.

    The ETF is rebalanced semi-annually in March and September and carries a total management fee of 0.5 percent.

    Top holdings in the fund include Bellevue Gold (ASX:BGL,OTC Pink:BELGF) with a weight of 5.04 percent, Novagold Resources (NYSE:NG) with 5.03 percent and Turk Altin Isletmeleri with 4.94 percent.

    Securities Disclosure: I, Dean Belder, currently hold a direct investment in Equinox Gold.

    This post appeared first on investingnews.com

    (TheNewswire)

    TORONTO, Ontario November 19, 2025 TheNewswire Laurion Mineral Exploration Inc. (TSXV: LME,OTC:LMEFF | OTCPINK: LMEFF,OTC:LMEFF) (‘LAURION’ or the ‘Corporation’) is pleased to provide this corporate update on its advisory engagements, exploration progress, and investor outreach initiatives.

    Advisory Network Expansion

    As part of its ongoing corporate development strategy, LAURION has broadened its advisory network to include additional strategic partners engaged to complement and extend the Corporation’s capital markets and M&A (strategic transaction) initiatives. This expanded network, established prior to the conclusion of LAURION’s engagement with US Capital Global Partners, as disclosed in its most recent public filing, is intended to enhance the Corporation’s institutional outreach, market visibility, and transactional execution capabilities. LAURION has created a layered, multi-channel approach designed to expedite investor access, broaden the Corporation’s ability to explore transactional opportunities, and ensure the Corporation can efficiently engage a wider breadth of potential partners and stakeholders in exploring strategic alternatives. While the Corporation anticipates that the benefits of these expanded advisory efforts will materialize progressively over time, this coordinated framework aims to strengthen LAURION’s foundation for long-term growth and advance its shareholder value strategy with discipline and transparency.

    Advancing the Ishkõday Exploration Program

    LAURION continues to execute a disciplined and systematic advancement of its flagship 57 km² Ishkõday Project, located 220 km northeast of Thunder Bay, Ontario. Further to the Corporation’s press releases dated May 8, 2025, May 27, 2025, July 29, 2025, August 19, 2025, September 23, 2025, and October 8, 2025, the 2025 field program has materially progressed on schedule and within budget, with meaningful technical milestones now achieved across geophysics, drilling, and surface exploration.

    Issuance of Stock Options to First Nations

    In accordance with an amendment to the Exploration Agreement between LAURION and the Animbiigoo Zaagi’igan Anishinaabek (AZA) , Bingwi Neyaashi Anishinaabek (BNA) , and Biinjitiwaabik Zaaging Anishinaabek (BZA ) First Nations, the Corporation’s Board of Directors has authorized the issuance of an aggregate of 750,000 stock options (250,000 to each First Nation). These options, granted under LAURION’s stock option plan, are exercisable at a price of $ 0.38 per common share. The options will vest immediately and remain exercisable for a period of five years from the grant date. This grant is subject to acceptance by the TSX Venture Exchange.

    This issuance forms part of the broader resolution and recognition framework outlined under the Exploration Agreement , reflecting LAURION’s continued commitment to long-term collaboration, transparency, and shared benefit with our Indigenous partners.

    Looking Ahead and Shareholder Updates

    LAURION reaffirms that any developments of material significance will be communicated without delay. In the meantime, shareholders are encouraged to respect channel integrity and refrain from speculating on social media, which may negatively affect the share price and delay the effective execution of strategic initiatives. The Corporation appreciates shareholders’ patience and trust—the Board and management continue exerting every effort, in concert with its diverse advisors, to maximize shareholder value.

    About Laurion Mineral Exploration Inc.

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

    LAURION’s emphasis is on the exploration and development of its flagship project, the 100% owned mid-stage 57 km 2 Ishk õ day Project, and its gold-rich polymetallic mineralization. LAURION’s chief priority remains maximizing shareholder value. A large portion of the Corporation’s focus in this regard falls within the scope of its mineral exploration activities and more specifically, advancing the Ishkõday Project.

    A consequence of LAURION’s success and advancement over the past several years is that the Corporation has become positioned as an acquisition target for appropriate potential acquirors. Accordingly, the Corporation’s Board of Directors is aware that possible strategic alternatives and transactional opportunities may arise and/or could be procured in the short or medium terms. The Corporation will promptly issue a press release if any material change occurs.

    Laurion Mineral Exploration Inc.

    Cynthia Le Sueur-Aquin – President and CEO

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

    Douglas Vass – Investor Relations Consultant

    Email : info@laurion.ca

    Website : http://www.LAURION.ca

    Follow us on : X (@LAURION_LME), Instagram (laurionmineral) and LinkedIn (https://www.linkedin.com/in/cynthia-le-sueur-aquin-laurion-lme-04b03017/)

    Caution Regarding Forward-Looking Information

    This press release contains forward-looking statements, which reflect the Corporation’s current expectations regarding future events including with respect to LAURION’s business, operations and condition, management’s objectives, strategies, beliefs and intentions, the Corporation’s ability to advance the Ishkõday Project, the nature, focus, timing and potential results of the Corporation’s exploration, drilling and prospecting activities in 2025 and beyond, including the Corporation’s diamond drill program described in this press release and the Corporation’s other planned activities for the Ishkõday Project for the remainder of 2025, and the statements regarding the Corporation’s exploration or consideration of any possible strategic alternatives and transactional opportunities (including, without limitation, the Corporation’s engagement of third party advisors to explore any such potential alternatives and opportunities), as well as the potential outcome(s) of this process and the formation of the Corporation’s aforementioned advisory network, the possible impact of any potential transactions referenced herein on the Corporation or any of its stakeholders, and the ability of the Corporation to identify and complete any potential acquisitions, mergers, financings or other transactions referenced herein, and the timing of any such transactions. The forward-looking statements involve risks and uncertainties. Actual events and future results, performance or achievements expressed or implied by such forward-looking statements could differ materially from those projected herein including as a result of a change in the trading price of the common shares of LAURION, the TSX Venture Exchange or any other applicable regulator not providing its approval for any strategic alternatives or transactional opportunities, the interpretation and actual results of current exploration activities, changes in project parameters as plans continue to be refined, future prices of gold and/or other metals, possible variations in grade or recovery rates, failure of equipment or processes to operate as anticipated, the failure of contracted parties to perform, labor disputes and other risks of the mining industry, delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the Corporation’s publicly filed documents. Investors should consult the Corporation’s ongoing quarterly and annual filings, as well as any other additional documentation comprising the Corporation’s public disclosure record, for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. Subject to applicable law, the Corporation disclaims any obligation to update these forward-looking statements. All sample values are from grab samples and channel samples, which by their nature, are not necessarily representative of overall grades of mineralized areas. Readers are cautioned to not place undue reliance on the assay values reported in this press release.

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

    Copyright (c) 2025 TheNewswire – All rights reserved.

    News Provided by TheNewsWire via QuoteMedia

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    American Rare Earths (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) (“ARR” or the “Company”), is pleased to announce an updated Mineral Resource Estimate for the Cowboy State Mine area within its flagship Hallack Creek Rare Earths Project. The update incorporates the results from 18 additional channel samples and coincides with the acquisition of two new exploration drilling permits.

    Highlights

    • Updated Mineral Resource Estimate in the Cowboy State Mine (“CSM”) Area RECLASSIFIES INDICATED RESOURCE BY 68.4 MILLION TONNES.
      • 102 Channel Samples collected in 2025 provided data points for an updated geological resource model, resource conversion and mineral resource ESTIMATE
      • Summer exploration and mapping collected 18 additional channel samples across the CSM area
        • 18 Channel samples returned average values of 5,471 ppm Total Rare Earth Oxides (TREO)
        • Standout sample (CS25-RM111) contained a new record high assay grade for the entire Halleck Creek Resource with a Total Rare Earth Oxide (“TREO”) grade of 13,816 PPM, which is 4X higher than the resource average
    • New exploration drilling permits obtained at Halleck Creek:
      • 27 hole locations were permitted at the CSM area for the Development drilling needed for future technical studies beyond the Pre-Feasibility Study (“PFS”)
      • 29 hole locations were permitted at the Bluegrass area, a potential exploration target which would add to total Halleck Creek Mineral Resource Estimates

    Odessa Resource Ltd. (“Odessa”), of Perth Australia, were commissioned to update the geological resource model for the CSM Area using 102 channel samples collected during 2025. The locations and assays for the 102 channel samples added to the geological resource model reside in Appendix B. The updated mineral resource estimate for the Cowboy State Mine area is approximately 547.5 million tonnes using a TREO cut-off grade of 1,00ppm, see Table 1 and Figure 4. The channel sample results enabled Odessa to reclassify approximately 63.9 million tonnes to the indicated category from the inferred category from the Mineral Resource Estimate presented in the February 2025 updated CSM Scoping Study1, see Table 2. Additional mapping associated with the channel sampling expanded the resource area to increase the CSM mineral resource estimate by approximately 4.5 million tonnes. It should be noted that the overall tonnage increase and change in grade do not reflect a material change to the total resource estimates for the Cowboy State Mine area.

    Click here for the full ASX Release

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    (TheNewswire)

    Vancouver, British Columbia, November 19, 2025 TheNewswire – Prismo Metals Inc. (the ‘ Company ‘) (CSE: PRIZ,OTC:PMOMF) (OTCQB: PMOMF) is pleased to report that it has completed a detailed exploration program at the Black Diamond area of its Silver King Project located in Arizona. Work consisted of mapping and sampling of the area including the Black Diamond copper replacement body and the newly encountered strongly altered felsic intrusion with stockwork veining.  A handheld XRF analyzer was used to complete a soil geochemistry grid and to analyze selected rock samples in a qualitative manner. Additionally, an IP survey was recently initiated over the Silver King land package, with results expected by the first week of December.

    Figure 1 .  Map showing the location of the Black Diamond replacement and felsic intrusion exploration targets at the Silver King project.  Claim boundaries are shown in yellow.

    The soil survey defined a large copper anomaly over the Black Diamond replacement body along with some anomalous gold values. Previous rock samples have shown the copper-gold association of mineralization in replacement mineralization. The soil survey also showed Zn, Pb, Ag and Sb anomalies associated with the felsic intrusion. This intrusion is strongly sericitized and is cut by moderate to strong stockwork quartz veins with locally abundant iron oxides after pyrite.

    XRF analysis of rock samples in the area was also completed. Although XRF analyses on rocks are generally qualitative and are not valid assays as are rock samples assayed by the geochemical laboratories, they do indicate the presence of the metals of interest and are useful as guides to mineralization.

    XRF analyses of individual quartz veinlets in the stockwork hosted by the felsic intrusion locally indicate the presence of silver, lead and zinc as well as some antimony.  During the exploration program, Prismo’s geological team took 34 rock chip samples over the area. These samples were submitted to the laboratory with assay results expected in the coming weeks.

    Craig Gibson, Chief Exploration Officer of the Company, stated: ‘These results confirm Black Diamond as a copper-gold replacement body target as was indicated from previous work, making this area a compelling drill target. The data collected from the felsic intrusion indicated that it is mineralized, a feature that was not indicated in reports from previous work by Fischer Watt in 1980, although they considered it a prime target based on alteration mineralogy and fluid inclusion studies 1 .’

    Drill Permit Update

    Prismo also announced that the Forest Service, the federal surface land management entity for Silver King, has determined that the Company’s proposed drill plan meets the regulatory requirements for processing, and that such plan is complete, as described in the regulations at 36 CFR 228.4(c).

    The Forest Service will now proceed with the environmental analysis pursuant to 36 CFR 228(a)(5) in conformity with the National Environmental Policy Act (NEPA). This analysis will proceed as a Categorical Exclusion, the lowest level of environment reviews applicable to projects that are not expected to have a significant effect on the environment, such as Silver King.

    Alain Lambert, CEO of Prismo stated: ‘We are pleased with the steady progress on the permitting front, especially given the now resolved US government ‘shutdown.’

    Mr. Lambert added: ‘With the closing of our recent oversubscribed financing, we are fully funded for the first two phases of drilling. In Phase 1, we plan a drill program at the historic Silver King mine site for about 1,000 meters. That drill plan is designed 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.’

    Figure 2 . Cross section through the Silver King mine workings showing proposed drill holes (in black) to test the pipelike mineralized body (in red)

    Given the Company’s recent discoveries, Prismo has added a second phase of drilling for an additional 1,000 meters. This additional program will focus on the newly identified targets outside of the historic mining area, such as the polymetallic vein and the copper vein mentioned above. Drilling of the large body of replacement mineralization on the patented Black Diamond claim is also being planned and is road accessible on private ground.

    1 Haynes, F. and Reynolds, 1980, Silver King Breccia Pipe Prospect, unpublished report, Fischer-Watt Mining Co., 5p.

    QA/QC

    XRF analyses are considered to be qualitative in nature and cannot be considered to be representative of commercial assays.  XRF soil analyses are useful as they indicate variations in metal contents to represent anomalies, although the actual values of the metals present are not necessarily the same as those obtained from commercial geochemical analyses.  The company uses commercial standards when using the XRF analyzer.

    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.

    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.

    News Provided by TheNewsWire via QuoteMedia

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    Instead of waging a bloody battle that could ignite a clash between nuclear-armed states, China may be betting it can conquer Taiwan without firing a shot — by choking off the island’s fuel and electricity until its government capitulates.

    China’s campaign wouldn’t start with missiles but with paperwork and patrol boats — ‘routine’ inspections, new customs rules and cyber intrusions designed to quietly strangle Taiwan’s imports while giving Beijing plausible deniability, according to a new report by the Foundation for Defense of Democracies (FDD). 

    The report warns that a successful Chinese squeeze on Taiwan’s fuel would ripple far beyond Asia. With the island producing most of the world’s advanced semiconductors, any prolonged power outage could halt global electronics and defense manufacturing — hitting U.S. supply chains and markets almost immediately.

    ‘Beijing’s goal isn’t to invade today, but to make Taiwan believe resistance is futile tomorrow. Its gray-zone campaign is a strategy of slow-motion strangulation — one that risks a sudden shock as Chinese ships and aircraft surge around the island,’ report author Craig Singleton said.

    The findings stem from a tabletop exercise conducted this summer by FDD and Taiwan’s Centre for Innovative Democracy and Sustainability at National Chengchi University. The simulation, called ‘Energy Siege,’ tested how the Chinese Communist Party might escalate from bureaucratic interference to a full-blown energy quarantine.

    Teams representing China, Taiwan, the United States, Japan and other allies wargamed a monthslong campaign in which Beijing throttled Taiwan’s fuel imports through ‘gray-zone’ tactics — administrative slowdowns, cyberattacks and disinformation — all while maintaining plausible deniability. The exercise found that a prolonged squeeze on Taiwan’s liquefied natural gas (LNG) could cripple its electrical grid within weeks and trigger a global chip shock.

    The report warns that cyber operations and propaganda would be central to Beijing’s playbook. Chinese hackers have already doubled successful intrusions into Taiwan’s energy grid over the past year, and the exercise envisioned them embedding malware in LNG terminals and power-plant control systems to disrupt shipments and distribution.

    At the same time, Beijing would unleash a barrage of false narratives — rumors of blackouts, fuel hoarding and government incompetence — to erode public trust and fracture morale. ‘For Beijing, disinformation is not a sideshow but its primary weapon,’ the report notes, describing a campaign designed to ‘control the narrative and sap its adversaries’ will.’

    Taiwan imports nearly all of its energy — half from natural gas and about 30% from coal — and holds only ‘a few weeks’ worth’ of reserves. ‘Taiwan’s three main LNG terminals and the Taichung coal offloading port are clustered along the island’s west coast, within range of the CCP’s missiles as shipments are funneled through narrow Taiwan Strait lanes,’ the report adds.

    That dependency makes Taiwan one of the world’s most energy-insecure economies. A blockade or ‘energy quarantine’ could cut the island’s power generation in half within weeks — forcing leaders to decide whether to keep the lights on for hospitals or for chipmakers like TSMC and UMC, Singleton and co-author Mark Montgomery write.

    ‘Coercion, not combat, is Beijing’s preferred weapon,’ Singleton said, adding that such a blockade would have ‘ripple effects that would reshape global markets and stability alike.’

    The report also calls for the United States to expand its own LNG export capacity — particularly through new projects in Alaska — to ensure it can supply Taiwan directly and make U.S. energy a core element of the island’s resilience.

    Taiwan produces around 60% of global semiconductor chips and 90% of the world’s most advanced chips, though TSMC is building a facility in Arizona to help offset that imbalance. ‘The choice to slowly shutter industrial capacity would eventually make Taiwan’s conundrum a global catastrophe when a plurality of the world’s supply of legacy chips and a supermajority of its advanced chips cease flowing,’ the report says.

    The authors argue that Taiwan should build up its LNG reserves through greater U.S. supply and for the U.S. Navy to be ready to escort vessels delivering it. ‘Beijing believes pressure plus patience equals political collapse,’ Montgomery said. ‘What unnerves China isn’t Taiwan’s defiance, but its people’s ability to withstand coercion.’

    Beijing’s information strategy, the report adds, would aim to quietly turn Taiwan’s population against its own government and allies — amplifying stories questioning President Lai Ching-te’s competence, spreading rumors of military fuel hoarding and blackouts, and circulating claims that the U.S., Japan and Australia would hesitate to intervene.

    China’s propaganda campaign could also reach the American public, the authors warn, through efforts to ‘seed questions across U.S. online ecosystems designed to wear down the American public’s commitment to continued convoy operations.’

    For now, the contest remains theoretical. But as China builds the tools to choke Taiwan’s energy supply and shape its narrative abroad, the line between peace and pressure is narrowing. The exercise suggests the first shot in the next Taiwan crisis may not be fired at all.

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    Facilities designed to discourage abortion have seen tens of thousands of additional clients in the wake of the Supreme Court’s landmark Dobbs ruling, according to a study published Monday.

    The Charlotte Lozier Institute, the research arm of the pro-life organization SBA Pro-Life America, found in its annual report that the facilities, often known as pregnancy resource centers, surpassed one million clients for the first time in 2024.

    That total is up from 974,965 in 2022, when the high court scrapped the federal right to abortion and flipped the issue back into the hands of states. The study looked at data from roughly 3,000 facilities nationwide.

    The centers poured nearly half a billion dollars into supporting their clients, and the dollar value of material goods, such as diapers, strollers and cribs, provided to clients rose 48% from 2022.

    Marjorie Dannenfelser, president of SBA Pro-Life America, told reporters on Monday the centers were an answer to the prevalence of abortion since Dobbs that the Charlotte Lozier Institute has attributed, at least in part, to easy access to abortion pills, which people can purchase by mail.

    Pregnancy resource centers have ‘become even more important, especially with the horrific national policy that we have on the abortion drug which has led to the increase of abortions to around 1.1 million,’ Dannenfelser said.

    ‘You have a Planned Parenthood organization and a big abortion movement that, to the problem of addiction, says when she enters a clinic, or she goes online, ‘Here’s your pill. Have a nice life,’’ Dannenfelser said.

    ‘Pregnancy centers, with the support of care workers, are going to the roots of the problem, to addiction, domestic abuse, homelessness, of the problem of just physically getting to your job so that you can do your job and support your family, the question of finishing school that you find yourself needing more resources and community and help at a moment where you want to say yes to your child and you also want to say yes to your own life and its trajectory,’ she said.

    Pregnancy centers have faced criticism, largely from the left, that they deceive their clients and donors into thinking they are not firmly against abortion and mislead clients about their ability to practice medicine. A lawsuit centered on that fight is pending before the Supreme Court; the high court will hear oral arguments in the case next month.

    The report showed that clinics offer a range of services, from providing tangible items to adoption agency services, counseling and a variety of medical services, including abortion pill reversal, pregnancy tests, ultrasounds and STD screening.

    The Charlotte Lozier Institute also said it found that more than 60% of women who have had abortions would rather have given birth if they had had more emotional and financial support.

    ‘When we have the courage to ask the questions of real women in the real world, this is what we find over and over and over again,’ Dannenfelser said.

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    Senate Democrats are requesting an investigation into what they say is ‘partisan messaging’ that the Trump administration used on official government websites during the longest government shutdown in U.S. history. 

    Sens. Elizabeth Warren of Massachusetts and Adam Schiff of California and others are urging the nonpartisan Government Accountability Office (GAO) to launch a probe into whether the Trump administration crossed a line and broke federal laws due to messages posted on official government websites that pinned the blame on Democrats for the shutdown. 

    ‘Some agencies’ announcements appeared to include nothing more than partisan messaging and lacked a connection to official business,’ lawmakers wrote in a letter, sent to GAO Nov. 9. 

    Specifically, the lawmakers pointed to messaging posted on the Department of Housing and Urban Development’s website, which stated on its website during the shutdown: ‘The Radical Left are going to shut down the government and inflict massive pain on the American people unless they get their $1.5 trillion wish list of demands. The Trump administration wants to keep the government open for the American people.’

    As a result, the lawmakers questioned whether the statement and others from separate agencies violated federal law, which bars using federal funds for ‘publicity or propaganda purposes.’ 

    ‘Longstanding federal appropriations law prohibits the executive branch from using federal funds ‘for publicity or propaganda purposes,’ including for purely partisan materials,’ the lawmakers wrote in their letter. ‘Federal law also prohibits agencies from using any appropriated funding, directly or indirectly, to generate publicity designed to influence Congress in supporting or opposing legislation or appropriations.’ 

    But Hans von Spakovsky, a senior legal fellow at the conservative Heritage Foundation think tank, said that Democrats are seeking a distraction from their role in the shutdown.

    ‘This is an absurd claim and just a publicity stunt by Democrats desperate to push attention away from their failures,’ Spakovsky said in a Friday statement to Fox News Digital. ‘Blaming Democrats for the shutdown was absolutely accurate since they voted more than a dozen times to keep the government shutdown. Truth is an absolute defense to any claim of partisan messaging.’ 

    The White House voiced similar sentiments in a statement to Fox News Digital on Monday.

    ‘It’s an objective fact that Democrats are responsible for the government shutdown, the Trump Administration simply shared the truth with the American people,’ White House spokeswoman Abigail Jackson said in a statement. 

    GAO spokesperson Jessica Baxter told Fox News Digital Friday that the organization had received the request and is in the middle of evaluating the request. 

    ‘I can confirm that GAO has received this congressional request,’ Baxter said. ‘GAO has a process it goes through to determine whether we do work and when, which we are working through right now.’

    Other lawmakers who signed the letter include Sens. Kirsten Gillibrand of New York, Richard Blumenthal of Connecticut, Chris Van Hollen of Maryland, Ron Wyden of Oregon, among others. 

    Trump signed a bill Wednesday to fund the government again as consequences of the lapse in funding started to build — including missed paychecks for federal workers and airline delays due to air traffic controller staffing shortages.

    The bill keeps funding for the government at fiscal year 2025 spending levels through Jan. 30 to provide lawmakers an opportunity to secure a longer appropriations measure for fiscal year 2026.

    The shutdown originated due to Republicans and Democrats sparring over various healthcare provisions to include in a potential funding measure. Trump and Republicans claimed Democrats wanted to provide illegal immigrants healthcare, and pointed to a provision that would repeal part of Trump’s tax and domestic policy bill known as the ‘big, beautiful bill’ that reduced Medicaid eligibility for non-U.S. citizens.

    But Democrats said this wasn’t the case, and instead, said they want to permanently extend certain Affordable Care Act subsidies that are set to expire at the end of 2025.

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    Amid rumors he may pursue a 2028 bid for the White House, Sen. Ted Cruz, R-Texas, didn’t deny the possibility when asked about it on Monday morning.

    ‘Reporters are going to write headlines that get clicks and get eyeballs. I got a job — it’s representing 31 million Texans. And I’ll tell you right now, the wins we are getting are historic,’ Cruz said on ‘The Faulkner Focus.’

    Cruz highlighted his participation in President Donald Trump’s signature tax and border security package earlier this year as one such victory. 

    Cruz has positioned himself for another run for the White House, according to reporting from Axios on Monday. By presenting himself as an alternative to the more domestically focused wing of the GOP — especially on Israel — Cruz has set himself apart from other notable 2028 prospective candidates like Vice President JD Vance. 

    The issue of interventionism has divided figures in the GOP for months as pundits, candidates and sitting lawmakers weigh how the U.S. should navigate its international relationships. Vance, like many other voices in Trump’s orbit, has called for the U.S. to pull back from engagements in Ukraine and the Middle East to focus on domestic issues. 

    Cruz has gone against the grain of the party, maintaining that the country’s security — and the security of the international community — depends on strong leadership from the White House.

    Most recently, Cruz said he believed American attention was needed in Nigeria, where Christians have faced intense persecution in recent years.

    ‘It’s why my focus right now is on the Christians in Nigeria,’ Cruz said on Monday after deflecting questions about 2028. ‘I was at the White House last week with the president, thanking him for standing up for the Christians in Nigeria.’

    Earlier this year, the office of Rep. Riley Moore, R-W.Va., announced that 7,000 Christians have been killed in Nigeria in 2025. 

    Cruz continued, ‘When Biden turned the other way, more and more murders occurred. Because when the commander in chief is absent, is AWOL, bad guys do really bad things. I’m glad we now have a strong commander in chief who will stand up and say, ‘We’re not going to do nothing while you commit mass murders of Christians.”

    Cruz’s office declined to comment on the Axios reporting when reached by Fox News Digital.

    Cruz has sought the presidential nomination before, becoming the runner-up GOP nominee to Trump in 2016. Since then, Cruz has maintained a highly visible position in the Senate where he has worked as an ally of the Trump administration on key issues like immigration, while remaining a consistent proponent of American support for Israel.

    With Trump unable to run for a third term, speculation has started brewing over which 2028 hopeful will successfully rally the MAGA base. Other notable contenders include Vance and Secretary of State Marco Rubio.

    So far, Trump himself has largely steered clear of anointing a possible successor.

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    The late financier and convicted sex offender Jeffrey Epstein discussed President Donald Trump in emails released by the House Oversight and Government Reform Committee Wednesday.

    The Democrats on the committee released three emails Wednesday that Epstein’s estate provided them — prompting Republicans to release their own stash of 20,000 pages of Epstein documents hours later, while the White House accused Democrats of seeking to distract from the government shutdown.

    In response, Trump announced Friday that he would direct the Justice Department and the FBI to investigate Epstein’s relationship with those including former President Bill Clinton, former Treasury Secretary during the Clinton administration Larry Summers and others.

    ‘This is another Russia, Russia, Russia Scam, with all arrows pointing to the Democrats,’ Trump said in a Friday Truth Social post.

    Meanwhile, Clinton has denied that he ever visited Epstein’s island, and wrote in his 2024 memoir ‘Citizen’ that he wished they’d never met. Clinton has not been accused of engaging in any sexual misconduct in connection to Epstein or his victims.

    A spokesperson for Summers did not immediately respond to a request for comment from Fox News Digital.

    Included in the documents released Wednesday are emails between Epstein and his longtime associate Ghislaine Maxwell, and correspondence with author Michael Wolff, former President Barack Obama’s White House counsel Kathy Ruemmler, among others, where Epstein mentions Trump.

    ‘i want you to realize that that dog that hasn’t barked is trump.. (VICTIM) spent hours at my house with him ,, he has never once been mentioned. police chief. etc. im 75 % there,’ Epstein said in an email to Maxwell in April 2011, which was provided with other correspondence to the committee by Epstein’s estate in response to a subpoena request.

    ‘I have been thinking about that…’ Maxwell said in response.

    The ‘VICTIM’ mentioned in the emails is redacted, but White House press secretary Karoline Leavitt said in a statement to Fox News that it was a reference to Virginia Giuffre, who accused Epstein of facilitating sexual encounters between her and some of his influential friends, including the U.K.’s then-Prince Andrew.

    Giuffre died by suicide in April, but said in her memoir that was completed prior to her death and released in October that she met Trump once at Mar-a-Lago in Palm Beach, Florida, and that he ‘couldn’t have been friendlier.’ She did not accuse Trump of any misconduct.

    The emails released by both parties on the Oversight Committee lack context and are full of redactions. 

    In another email from 2019, Epstein told Wolff that ‘of course he knew about the girls as he asked ghislaine to stop,’ referencing Trump. The president previously told reporters in July that he had prohibited Epstein from the president’s Florida Mar-a-Lago golf club because Epstein kept ‘taking people who worked for me.’

    Additionally, it’s unclear from the exchange whether ‘girls’ referred to minors or not.

    In a separate exchange between Wolff and Epstein from 2015, the two discussed the possibility of CNN asking Trump about his relationship with Epstein.

    ‘I think you should let him hang himself,’ Wolff said in an email to Epstein. ‘If he says he hasn’t been on the plane or to the house, then that gives you a valuable PR and political currency. You can hang him in a way that potentially generates a positive benefit for you, or, if it really looks like he could win, you could save him, generating a debt.’

    Wolff is an author who has written four books about Trump’s political career — including ‘Fire and Fury: Inside the Trump White House,’ which was released in 2018 and pieced together an unflattering picture of Trump’s early days in office during his first term. The White House at the time characterized it as ‘trashy tabloid fiction.’

    Hours after the initial Democrat release of documents, the Republicans on the committee unveiled their own document pile, which included emails from Epstein where he also discussed Trump.

    Other email exchanges released Wednesday included correspondence between Epstein and Ruemmler, who is now the chief legal officer at Goldman Sachs Group Inc.

    Ruemmler shared a link to a New York Times opinion piece in August 2018, which detailed alleged hush-money payments made to porn star Stormy Daniels to keep quiet about an alleged affair with Trump. Ruemmler said she thought Epstein would find the piece ‘interesting.’

    ‘I know how dirty donald is,’ Epstein emailed in response.

    Trump was convicted in May 2024 on 34 felony counts of falsifying business records in connection with the alleged hush-money payments. He continues to deny the affair and maintains his innocence, calling the case a politically motivated ‘witch hunt.’

    Ruemmler did not immediately respond to a request for comment from Fox News Digital.

    In a separate 2017 email to Summers, Epstein said that while he’s met some ‘very bad people,’ none have been ‘as bad as trump.’

    ‘Not one decent cell in his body.. so yes – dangerous,’ Epstein said.

    Summers did not immediately respond to a request for comment from Fox News Digital.

    While the documents themselves are authentic, Epstein’s statements in the emails remain unverified and uncorroborated. They do not allege wrongdoing by Trump; they only show Epstein referencing him. Trump has not faced formal accusations of misconduct tied to Epstein, and no law enforcement records connect Trump to Epstein’s crimes.

    The White House shrugged off the release as a ‘distraction.’

    ‘These emails prove literally nothing,’ White House spokesperson Abigail Jackson said in a Thursday statement to Fox News Digital. ‘Liberal outlets are desperately trying to use this Democrat distraction to talk about anything other than Democrats getting utterly defeated by President Trump in the shutdown fight.’

    Meanwhile, Trump also said in a Wednesday social media post that the Democrats were seeking to revive discussion on the Epstein case to distract from their role in the government shutdown.

    ‘The Democrats are trying to bring up the Jeffrey Epstein Hoax again because they’ll do anything at all to deflect on how badly they’ve done on the Shutdown, and so many other subjects,’ Trump said Wednesday. ‘Only a very bad, or stupid, Republican would fall into that trap.’

    ‘There should be no deflections to Epstein or anything else, and any Republicans involved should be focused only on opening up our Country, and fixing the massive damage caused by the Democrats!’ Trump said.

    Trump’s connections to Epstein have come under heightened scrutiny after Trump’s Justice Department and FBI announced it would not unseal investigation materials concerning Epstein, and that their investigation into the case had closed.

    Additionally, the agencies said that they did not detect a list of sexual predators with ties to Epstein, and concluded there were no new people who could face charges.

    Meanwhile, U.S. Deputy Attorney General Todd Blanche met with Epstein associate Maxwell in Florida in July, and the Justice Department released transcripts from their interview. In the records, Maxwell claimed that she didn’t see Trump behave in an inappropriate manner.

    ‘I never witnessed the President in any inappropriate setting in any way,’ Maxwell said, according to the transcript the Justice Department released. ‘The President was never inappropriate with anybody. In the times that I was with him, he was a gentleman in all respects.’

    Epstein died by suicide while awaiting trial on federal charges in 2019. Maxwell has been convicted on charges including sex trafficking of a minor and is serving a 20-year sentence.

    Fox News’ Patrick Ward and The Associated Press contributed to this report.

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    China’s military buildup has reached what a new congressional report calls a ‘war footing,’ with hundreds of new missile silos and expanding nuclear capabilities that could erode America’s long-standing deterrence edge in the Indo-Pacific.

    China has built roughly 350 new intercontinental missile silos and expanded its nuclear warhead stockpile by 20% in the past year, part of a sweeping military expansion that the U.S.-China Economic and Security Review Commission says could strain U.S. readiness to counter Chinese aggression.

    The commission’s 2025 annual report to Congress says Beijing’s rapid nuclear buildup, combined with new artificial intelligence-driven warfare systems, is transforming the People’s Liberation Army into a force ‘capable of fighting and winning a war against the United States’ — even without matching U.S. nuclear numbers.

    According to the report, China has unveiled an AI-powered electronic warfare system capable of detecting and suppressing U.S. radar signals as far as Guam, the Marshall Islands and Alaska, and is now deploying 6G-based platforms across its armed forces.

    The report says China unveiled a new 6G-based electronic warfare platform in mid-2025, capable of coordinating radar jamming and signal interception across long distances. The system reportedly uses high-speed data links and artificial intelligence to synchronize attacks on U.S. and allied radar networks — a preview of what Beijing calls ‘intelligentized warfare.’

     At a military parade in Beijing this September, China for the first time displayed a full nuclear triad — missiles launchable from land, air and sea.

    The commission warns these advances, paired with China’s political crackdown and economic leverage, could allow Beijing to act ‘quickly and decisively in a crisis,’ shortening the time the U.S. and its allies would have to respond to aggression.

    The commission is urging Congress to require the Pentagon to conduct a full audit of U.S. readiness to defend Taiwan, warning that Washington may no longer meet its legal obligations under the Taiwan Relations Act. The report calls for a classified and unclassified assessment of whether U.S. forces could ‘resist any resort to force or coercion’ by China — even in a scenario where the United States is also facing simultaneous aggression from Russia, Iran or North Korea.

    Read the report below. App users: Click here

    A war over Taiwan, the commission cautions, could wipe out up to 10% of global GDP — a shock on par with the 2008 financial crisis — and carry a ‘cataclysmic’ risk of nuclear escalation and wider conflict in the Indo-Pacific.

    China now holds around 600 nuclear warheads. The Pentagon has assessed China is aiming to own 1,000 by 2030. 

    The report further warns that China’s economic coercion is compounding the threat, pointing to Beijing’s dominance in foundational semiconductors, rare earth minerals, and printed circuit boards. It says these dependencies could leave the United States ‘reliant on its rival for the backbone of its modern economy and military.’

    Among 28 recommendations, the commission calls for Congress to bar Chinese-made components from U.S. power grids, create a unified economic statecraft agency to enforce export controls, and reaffirm diplomatic backing for Taiwan — including its partnership with the Vatican, one of Taiwan’s few remaining formal allies that Beijing has sought to isolate through church diplomacy.

    ‘China’s rapid military and economic mobilization shortens U.S. warning timelines,’ the report concludes, warning that without a coordinated response, America’s deterrence posture ‘risks falling short’ against Beijing’s expanding capabilities.

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