Interview with Jon Deluce, President & CEO of Abitibi Metals

Our previous interview: https://www.cruxinvestor.com/posts/abitibi-metals-cseamq-doubles-resource-on-high-grade-copper-gold-vms-9195

Recording date: 29th April 2026

Abitibi Metals recently secured a transformative $31 million investment from Discovery Silver, marking a major institutional validation of its B26 polymetallic deposit in Quebec. In exchange for a 9.9% stake, Discovery Silver provides both a substantial capital injection and invaluable operational expertise. Developed over a two-and-a-half-year partnership with the Quebec government subsidiary SOQUEM, the B26 deposit currently boasts 25 million tons at a 2.1% copper equivalent. This impressive scale places it among a rare class of large-scale copper, gold, and zinc assets in Canada's mining-friendly jurisdiction.

The alliance brings far more than just funding. Discovery Silver’s management team has a proven track record of building successful mines, offering Abitibi critical guidance in permitting, community engagement, and environmental management. Over the past 18 months, Abitibi’s valuation has surged from $30 million to roughly $150 million. Notably, this latest financing was completed without issuing warrants. This careful structuring preserves equity for existing shareholders while positioning the company for aggressive expansion without near-term dilution risks.

Now fully funded through 2027, Abitibi is launching a massive 80,000-plus meter drilling program. The immediate focus is delivering a Preliminary Economic Assessment (PEA) and an updated resource estimate in the first quarter to outline the project's early payback potential. Looking ahead, Abitibi plans to use B26 as a flagship anchor to consolidate the broader mining camp through strategic acquisitions. With structural demand growing for both copper and gold, this new war chest allows Abitibi to advance confidently toward a feasibility study and fully capitalize on a strengthening commodity cycle.

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Interview with Erin Zaunscherb, Chairman & CEO of GR Silver Mining Ltd.

Our previous interview: https://www.cruxinvestor.com/posts/gr-silver-mining-tsxvgrsl-high-grade-silver-strike-opens-up-expansion-potential-7893

Recording date: 29th April 2026

GR Silver Mining (TSXV:GRSL) is a silver-focused exploration company advancing the San Marcial project in Sinaloa, Mexico. The company holds 134 million ounces of silver equivalent in resources, has historically added ounces at a cost of US$0.12 per ounce, and is currently executing a 20,000-metre drill programme designed to grow that resource base materially. For investors, the combination of a large existing resource, a low discovery cost, an expanding geological model, and a structured near-term catalyst pipeline defines the investment case.

The project's geological setting is more complex and more prospective than the headline resource alone suggests. San Marcial sits within a breccia system hosted by an intrusive body, of which only approximately 20% of the perimeter has been tested. The remaining 80% of that perimeter represents high-priority exploration ground in analogous structural positions to existing high-grade mineralisation. Beyond the main breccia, geological mapping has identified parallel breccia bodies forming concentrically around the intrusive core, showing elevated gold. Surface sampling further toward the intrusive centre has detected copper and molybdenum, raising the possibility of a porphyry mineralisation model at depth. Within the main breccia itself, four to five distinct mineralisation pulses have been identified, adding vertical scale to the system.

Early results from the current drill programme are consistent with these interpretations. Hole 2601 returned 6.5 metres grading 500 grams per tonne silver, including 1.2 metres of 1,600 grams per tonne, with a notable 61-metre interval at depth confirming the system remains alive well below current resource boundaries. Hole 2603 returned 15.6 metres of 351 grams per tonne silver from 200 metres, including 2.5 metres at 1,400 grams per tonne. Drilling is now on holes 10, 11, and 12. The full 20,000-metre programme is targeting completion in the second half of the year, to be followed by a resource update and the commissioning of a PEA.

A separate but strategically connected element is the planned bulk sample test mining programme at the Plomosas mine, which sits on the same land package. With 7.4 kilometres of existing underground development and permits already in place, Plomosas offers a low-capital pathway to early cash generation and, more importantly, to demonstrating operational credibility with Mexican regulators. San Marcial currently holds exploration concession status, which carries a permitting timeline of five to seven years under conventional processes. A positive track record at Plomosas could shorten that meaningfully, with direct implications for the project's net present value.

The company is fully financed with no debt, providing operational continuity through the current programme without near-term dilution risk. Following the passing of founder and CEO Marcio Fonseca, executive chairman Eric Zaunscherb has stepped into an interim leadership role. Field teams remain active and motivated, and the exploration programme has continued without interruption.

For investors with an appetite for primary silver exposure at the exploration stage, GR Silver Mining offers a large resource base, an expanding geological thesis, a defined catalyst sequence, and a valuation that has not yet reflected the full scope of what is emerging at San Marcial.

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Interview with Robert Wrixon, Executive Director of Nordic Resources

Our previous interview: https://www.cruxinvestor.com/posts/nordic-resources-asxnnl-finlands-rising-star-in-the-global-battery-metals-race-6336

Recording date: 28th April 2026

Nordic Resources (ASX:NNL) is emerging as a strategic play in Finland's gold sector following Agnico Eagle's high-premium acquisitions of Rupert Resources and Orion Resources in the Central Lapland gold belt. The company controls three gold projects in Finland's central Ostrobothnia region—Kopsa, Kiimala, and Hirsikangas—positioned to benefit from similar dynamics that drove those recent transactions.

The flagship Kopsa project hosts 815,000 ounces at 1.1 grams per ton, with 90% of resources sitting within 150 meters of surface. Critically, Kopsa contains a high-grade core of approximately 5 million tons averaging 2 grams per ton—potentially two to three years of higher-grade production that significantly enhances project economics. The asset comes with a conditionally granted mining concession, placing it ahead of most Finnish exploration projects in development timeline.

Executive Director Robert Wrixon argues that Nordic Resources offers similar strategic advantages to the recently acquired Central Lapland assets: tier-one jurisdiction, existing infrastructure including two nearby processing plants and rail connectivity, and district-scale consolidation potential. "It's not just about the grade and the geology anymore," Wrixon notes. "It does matter where you are, if there's a district scale consolidation play and if there's infrastructure around."

The company is executing an aggressive exploration program funded by A$10.6 million in cash, planning to drill 20,000+ meters in 2026 with a resource update expected in September incorporating 8,000 meters of new drilling and metallurgical test work. Management is pursuing a dual strategy: growing resources through exploration while developing production optionality through potential toll-treating arrangements at existing regional plants.

Trading at approximately A$40-45 per ounce versus the substantial premiums paid in recent Finnish transactions, Nordic Resources positions itself as the "next cab off the rank" in Finland's increasingly valuable gold districts, offering investors leveraged exposure to resource growth, early production pathways, or district consolidation scenarios.

View Nordic Resources' company profile: https://www.cruxinvestor.com/companies/nordic-nickel

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Interview with Christopher Taylor, Chairman, and Claudia Tornquist, President & CEO of Kodiak Copper Corp.

Our previous interview: https://www.cruxinvestor.com/posts/kodiak-copper-tsxvkdk-building-scale-in-british-columbias-copper-district-9481

Recording date: 28th April 2026

Kodiak Copper and Teck Resources have joined forces to create Kay Copper, a newly formed exploration company aimed at capitalizing on the growing demand for domestic critical minerals in the United States. This strategic joint venture combines Kodiak’s dormant Mohave project with Teck’s Copper Hill asset, both located in the mineral-rich state of Arizona. By spinning out these highly prospective porphyry projects into a dedicated entity, both companies can unlock shareholder value without losing focus on their primary operations. As the push for green energy and electrification intensifies, finding reliable domestic copper sources has never been more crucial, making this an opportune time to explore Arizona's proven mining districts.

Kay Copper is well-positioned for immediate action, backed by a $5 million initial capitalization that will fund drill programs later this year. Both Kodiak and Teck will maintain a 28% equity stake in the new venture, providing robust institutional support. Notably, Teck Resources has secured offtake rights for both properties. This guarantees them access to the copper produced if exploration efforts lead to a functioning mine, which signals immense confidence in the long-term viability of these assets. The company is actively targeting a public listing on the TSX Venture Exchange, with the transaction expected to close in early Q3, guided by incoming CEO Adam Schatzker and Board Chair Claudia Tornquist.

The exploration strategy will simultaneously test shallow, drill-ready targets and massive, deeper anomalies. At the Mohave project, legacy data suggests historical drilling merely grazed the edge of a high-grade center, leaving newly expanded claims ripe for immediate exploration. Meanwhile, the Copper Hill project features strong geological indicators that hint at a significant mineralized system. Initial drilling will focus on the shallower zones of Copper Hill to generate early discoveries and build geological confidence. By systematically advancing these assets, Kay Copper aims to unearth a transformative tier-one discovery to supply America's future infrastructure needs.

View Kodiak Copper's company profile: https://www.cruxinvestor.com/companies/kodiak-copper-corp

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Interview with Troy Boisjoli, CEO of ATHA Energy Corp.

Our previous interview: https://www.cruxinvestor.com/posts/atha-energy-tsxvsask-bigger-better-than-athabasca-basin-uranium-8075

Recording date: 28th April 2026

ATHA Energy is making waves in Canada's Angikuni basin, successfully transitioning from early-stage exploration to a critical resource delineation phase. What sets the company apart is the sheer scale of its recent discoveries. To put this in perspective, world-class uranium deposits in Saskatchewan's famous Athabasca basin typically span less than a single kilometer. In stark contrast, ATHA has uncovered continuous mineralization stretching over 14 kilometers in its RIB corridor. By focusing its efforts on a single, cohesive geological system across its district-scale land package, the company has achieved a rare 100% success rate on tested geophysical targets, essentially eliminating early discovery risk.

Backed by $63 million in fresh capital—including support from industry veteran Warren Gilman's QRC—ATHA is fully funded for a multi-year run. The drill results so far have been exceptional. For example, recent tests returned 34 meters of mineralization, featuring a 13-meter continuous stretch at over 0.5% uranium with peak grades topping 8%. To capitalize on these high grades, the company is scaling up its operations in 2026 by deploying three drill rigs simultaneously. This marks their largest exploration program to date, shifting focus from hunting new targets to proving the immense continuity of the systems they have already found.

Controlling the entire Angikuni basin in Nunavut gives ATHA a distinct operational advantage, even though operating in Canada's remote north presents logistical hurdles. Fortunately, nearby established projects prove that large-scale mining development in the region is entirely viable. According to CEO Troy Boisjoli, this operational inflection point aligns perfectly with the most favorable uranium market conditions seen in two decades. With a massive, high-grade footprint and aggressive drilling underway, ATHA Energy is positioned as a standout player in the junior uranium sector.

View ATHA Energy's company profile: https://www.cruxinvestor.com/companies/atha-energy

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Interview with Jonathan Egilo, President & CEO of Axo Metals

Our previous interview: https://www.cruxinvestor.com/posts/axo-copper-tsxvaxo-royalty-free-high-grade-copper-discovery-prepares-for-june-2025-listing-7208

Recording date: 28th April 2026

Axo Metals Corp, trading on the TSX Venture Exchange and in the process of rebranding from Axo Copper Corp, has made a single acquisition that fundamentally changes its investment profile. The company purchased the San Antonio gold project in Sonora, Mexico in January 2026. The asset is a past-producing open-pit heap leach operation that retains most of its original mining infrastructure, including a crusher, carbon column plant, heap leach pads, camp facilities, water rights, and power line access.

President and CEO Jonathan Egilo has described the situation plainly: the company is inheriting a heap leach mine that is already approximately 70% built. The difference between a greenfield gold project and a brownfield restart with existing infrastructure is the difference between years of capital-intensive construction and a development timeline measured in months. Egilo has guided for a build period of six to nine months once permitting is secured, a timeline that is only realistic because the heavy lifting was completed during the asset's prior operating life and subsequent development by Osisko.

The current resource stands at 1.1 million ounces of gold, split between lower-grade oxide material amenable to heap leaching and higher-grade sulphide material. That figure was generated after one year of drilling and modelled on a gold price of US$1,700 per ounce, well below where gold is trading today. Refreshing the model to current prices is expected to add ounces before a single additional metre of drilling is completed. A 30,000-metre drill programme is now running in parallel with permitting and engineering, targeting high-priority areas that have never been drilled in the project's history. The company has the financial flexibility to expand that programme by a further 20,000 to 30,000 metres without returning to the market.

On the financing side, Axo completed a C$40 million raise with warrant accelerators that could bring in a further C$28 million. The remaining capital build including the incremental stripping, haul road, and heap leach pad expansion required to begin mining the new starter pit, are expected to be covered by a combination of those proceeds and a modest debt facility, which management considers readily available in the current gold price environment.

The permitting pathway is credible rather than theoretical. The same management group secured an open-pit permit in Sonora from the current Mexican administration in approximately twelve months, completing that process for Silver Tiger Metals in November 2025. San Antonio involves the same state, the same regulatory authorities, and the same team.

The deal structure with Osisko, structured as all-stock with production-linked cash milestones, means the vendor's interests are aligned with Axo's success. There is no financial pressure on Osisko to liquidate its position before production is achieved.

For investors looking for near-term gold production exposure with a de-risked capital profile, an undervalued resource base, and a management team that has already proven it can execute in the same jurisdiction, Axo Metals offers a specific and timely opportunity ahead of a PEA, permit update, and drill results all expected in 2026.

View Axo Copper's company profile: https://www.cruxinvestor.com/companies/axo-copper-c

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Interview with Matthew D. Gili, President & CEO of Ur-Energy

Our previous interview: https://www.cruxinvestor.com/posts/ur-energy-amexurg-bringing-second-uranium-mine-online-as-demand-surges-9237

Recording date: 27th April 2026

Ur-Energy has officially launched operations at its Shirley Basin facility in Wyoming, marking a major milestone as the company's second producing uranium asset. Using an innovative hub-and-spoke model, the site functions as a satellite operation. It extracts uranium using in-situ recovery (ISR) mining—a low-impact method that relies on oxygen and carbon dioxide—and daily ships the uranium-bearing resin to the company’s primary Lost Creek facility for final processing. This capital-efficient approach allows Ur-Energy to scale up quickly without needing to build duplicative processing infrastructure.

The financial outlook for this expansion is highly favorable. Ur-Energy projects operating costs between $45 and $50 per pound, which delivers substantial profit margins when compared to current term contract prices hovering around $90 per pound. While the company is licensed to produce up to 4.2 million pounds annually across both sites, its near-term target sits at a robust 2 million pounds. Because the company treats well development as an operating expense rather than a capitalized cost, its future sustaining capital needs drop to a modest $2 million annually once initial construction wraps up, freeing up significant cash flow.

This operational leap arrives at a critical moment for U.S. energy security. The United States currently consumes roughly 50 million pounds of uranium each year but produces merely 2 to 3 million pounds domestically. Fueled by strong bipartisan support for nuclear energy, Ur-Energy is positioning itself to help fill this massive supply gap. The company isn’t stopping at its current capacity, either. Management is actively evaluating a third project, Lost Soldier, with a technical report expected by late 2026. Through disciplined growth and deep regulatory expertise, Ur-Energy is steadily advancing toward its ultimate goal of becoming the largest uranium producer in the United States.

https://www.cruxinvestor.com/companies/ur-energy-inc

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Interview with Elaine Ellingham, President & CEO of Omai Gold Mines Corp.

Our previous interview: https://www.cruxinvestor.com/posts/omai-gold-mines-tsxvomg-heavy-newsflow-coming-to-support-updated-pea-in-2026-8622

Recording date: 26th April 2026

Omai Gold Mines is rapidly advancing an 8-million-ounce gold project in Guyana, positioning itself as a major player in South America's resource sector. The company recently achieved a key milestone by upgrading 480,000 ounces at its Wenot open-pit deposit to the indicated category. This targeted drilling successfully improved the resource grade from 1.46 to 1.59 grams per tonne. To fuel further expansion and fill remaining gaps in the resource model, Omai is currently executing a massive 50,000-meter drill program with five rigs operating continuously.

The company's development plan hinges on a dual mining strategy that pairs the expansive Wenot open pit with the nearby Gilt Creek underground deposit, which features a higher average grade of 3.33 grams per tonne. With the resource base now significantly larger, engineering teams are evaluating a robust plant throughput of 15,000 to 20,000 tonnes per day to maximize economics. Omai anticipates releasing a Preliminary Economic Assessment within two to three months, setting the stage for a comprehensive feasibility study within the following year.

What sets the Omai project apart is its substantial built-in infrastructure and highly favorable operating environment. As a past-producing mine, the site already has a functional tailings facility and proven historical gold recovery rates of up to 93 percent. Additionally, Guyana's booming offshore oil industry—currently producing 1.2 million barrels daily—is financing massive infrastructure upgrades across the country. The government has already paved the project's main access road, cutting travel time to the capital down to just three hours. Combined with a pro-mining regulatory stance and streamlined permitting, these structural advantages dramatically reduce the typical capital costs and development delays associated with greenfield mining projects.

View Omai Gold Mines' company profile: https://www.cruxinvestor.com/companies/omai-gold-mines

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