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Vancouver, British Columbia--(Newsfile Corp. - July 16, 2026) - Metalsource Mining Inc. (CSE: MSM) (OTCQB: MSMMF) (FSE: E9Z) ("Metalsource" or the "Company") is pleased to announce the results of a recently completed induced polarization ("IP") survey designed to identify drill targets on strike from the historic Silver Hill mine. The survey identified approximately 2.4 kilometres of prospective strike length across two primary target areas, including a continuous 1.8 kilometre anomaly in the southern portion of the project area, in the immediate vicinity of Silver Hill, and an additional 600 metre IP anomaly in the northeast corner of the property.

These IP data and recent drilling results continue to validate Metalsource's exploration thesis that mineralization remains open in all directions, and there are significant opportunities to add scale to the mineralization discovered thus far through on strike and down dip exploration drilling.

Key Highlights

Phase 2 IP survey identifies approximately 2.4 kilometres of prospective target areas across the Silver Hill district.High priority drill targets display geophysical characteristics analogous to the mineralized corridor defined by recent drilling.Targets remain open north and south of the historic mine, significantly expanding the Company's exploration pipeline.Results strengthen management's evolving geological model that Silver Hill may comprise multiple mineralized occurrences rather than a single historic deposit.Company advancing plans to increase drilling capacity to simultaneously expand known mineralization and systematically test newly identified targets.

Figure 1: Plan view showing the extent of recently completed ground IP Survey. Right: Unfiltered polarization results. Left: Polarization results filtered to 20-35 msec to show anomalous trend. Note Project focus area includes the Silver Hill mine and a significant portion of the companies property position.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12035/305405_90115bf674546854_002full.jpg

Figure 2: Plan view showing resistivity results from ground IP survey with anomalous polarization data (points). Coincident polarization anomalies (20-35msec) with >1,500Ωm resistivity results is an exploration target. Note: Non-target resistivities removed for clarity on the right side of the image.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12035/305405_90115bf674546854_003full.jpg

High-Grade Drilling Validates IP Targeting Model

Exploration drilling completed to date at Silver Hill has demonstrated significant metal endowment within the Company's target horizon. Drilling has so far identified mineralization in up to 18 metres of drill core, and composite assay results of up to 209 g/t gold, 241 g/t silver, 18.8% lead, 39.4% zinc, and 5.4% copper (Table 1). The consistency of this polymetallic mineralization has established Silver Hill as an excellent candidate for electrical geophysics and provided the foundation for the Company's evolving exploration model.
At Silver Hill, the combination of IP chargeability and resistivity data provides two complementary and independently interpretable signals. Elevated chargeability values (greater than 20 milliseconds) are interpreted to potentially reflect the presence of metallic sulphide minerals, while resistivity distinguishes the silicified host of the mineralization (1,500 to 4,000 ohm-m) from both the conductive weathered saprolite at surface and the highly resistive volcanic package, which exceeds 5,000 ohm-m. This two parameter discrimination allows geophysically anomalous zones to be ranked not only by their sulphide content, but also by their host rock environment, enabling the identification of interpreted mineralization occurring at the favourable contact between volcanic flows and the underlying silicified host rocks.

Joe Cullen, CEO of Metalsource Mining, commented:

"This survey represents a major step forward in our understanding of the Silver Hill district. What excites us most is not simply the number of targets identified, but the quality of those targets. These targets exhibit geophysical characteristics analogous to the corridor where we've already delivered some of our strongest drill results. While these are exploration targets, not drill results, they provide us with a compelling pipeline of opportunities that we intend to begin testing as we continue to accelerate exploration.
As drilling, geophysics and geological interpretation continue to come together, our confidence in the broader district continues to grow. Our working geological model suggests Silver Hill may comprise multiple mineral occurrences rather than a single mineralized body, creating opportunities to expand the system both along strike and down dip.
With plans to increase drilling capacity, our strategy is straightforward. One drill program will continue systematically expanding the known Silver Hill deposit, while additional drilling evaluates these newly identified high priority targets. Selecting where to drill first has become one of the more difficult decisions because of the quality of the opportunities now in front of us, and we're excited to begin unlocking their potential aggressively in the near term."

Drill Hole IDFrom (m)To (m)Length (m)Au (g/t)Ag (g/t)Pb (%)Zn (%)Cu (%)AgEq (g/t)*SH25-0114.3232.4918.171.867.93.11.00.1267Including24.6932.497.803.266.13.60.90.1383Including24.6927.432.744.8139.97.11.20.3640SH25-0214.2329.5715.332.133.21.11.40.1237Including24.6629.574.915.761.52.73.80.1613Including26.4028.131.7413.268.72.90.50.11,155SH26-07129.91142.5212.6246.542.31.43.30.13,786Including135.58142.526.9584.054.81.11.80.26,730And139.78142.522.74209.193.60.31.20.116,604SH26-05116.10117.010.912.2241.016.634.60.21,170SH26-08186.05199.0012.951.342.56.513.40.2447Including186.05191.485.431.661.611.123.50.2705Including188.37191.483.112.294.117.236.00.31,063And196.44199.002.562.174.88.815.00.3604SH25-0316.9220.063.140.043.20.70.60.060Including16.9218.411.490.061.40.50.10.067SH25-0458.5560.111.550.240.41.52.60.0113Including59.5660.110.550.7103.03.96.00.0279SH26-10111.98116.594.600.723.92.76.10.1202Including116.01116.590.581.2146.813.617.60.3656SH26-11138.41149.0510.643.327.03.37.90.2434Including139.96149.059.083.730.33.78.50.2488Including142.98146.153.179.752.46.514.70.41,087Including142.98144.511.5219.192.011.725.10.52,050SH26-15218.66228.8410.182.116.41.52.90.4257Including218.66219.360.708.359.50.41.45.41,039Including226.13228.842.714.541.05.310.30.2594SH26-16224.45233.028.560.67.70.82.10.090Including224.45224.850.4011.323.81.56.00.1984Including232.87233.020.150.4146.018.839.40.0951SH26-17185.59185.750.150.721.53.810.50.5292SH26-18199.40211.2311.831.434.32.25.40.1245Including199.40200.801.407.319.71.516.00.3833Including199.40200.040.6413.836.82.729.80.71,580Including208.94211.232.291.7152.79.816.00.4636SH26-19218.60224.886.289.954.03.721.70.11,156Including218.60222.203.6016.543.72.832.20.11,789Including224.00224.880.882.7157.310.818.90.3762And227.93228.230.303.364.64.215.90.3609Table 1: Summary of exploration drilling results thus far at Silver Hill.

The Company believes the combination of systematic drilling, modern geophysics and structural interpretation is transforming Silver Hill from a historically mined property into a modern district scale exploration opportunity with multiple avenues for future growth.

What's Next

Accelerating Exploration - Management is advancing plans to increase drilling capacity to simultaneously expand the known Silver Hill deposit while systematically testing newly identified priority targets.

Multiple Assays Pending - Results remain outstanding from several completed drill holes, providing continued exploration catalysts as the current drill program advances.

Testing New Discovery Targets - Follow up drilling will prioritize the highest ranking IP anomalies exhibiting characteristics analogous to the Company's successful drilling.

Expanding the Geological Model - Ongoing drilling, IP surveys and geological interpretation will continue refining management's understanding of the Silver Hill district while evaluating opportunities to extend mineralization along strike, down dip and beyond the historic mine footprint.

Building District Scale Value - Management will continue evaluating strategic opportunities that strengthen the Company's ability to systematically explore and unlock the broader Silver Hill district.

Why This Matters to Investors

The Phase 2 IP survey represents a significant evolution in the Silver Hill story. Rather than simply identifying additional drill targets, the survey provides a property scale framework for systematically exploring the broader district and prioritizing future drilling.

Importantly, the newly identified targets exhibit geophysical characteristics analogous to the corridor where Metalsource has already intersected high-grade silver, gold, lead, zinc and copper mineralization. While these anomalies remain exploration targets until drill tested, they substantially expand the Company's pipeline of prospective targets and support management's evolving geological model that Silver Hill may comprise multiple mineralized centres extending beyond the historic mine footprint.

Combined with multiple pending assays, plans to increase drilling capacity and ongoing geological interpretation, the Company believes it is entering the next phase of exploration—one focused on not only expanding the known mineralization, but also systematically evaluating the broader district for additional discoveries.

Metalsource QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks, and duplicates within the sample stream. The drill core is cut in half with a diamond saw, with one half placed in sealed bags and shipped to the laboratory and the other half retained on site. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility.

Analytical testing is performed by ALS Geochemistry (Reno, NV) and ALS Canada (Vancouver, BC). The entire sample is crushed to 70% passing 2mm mesh, with a 250 gram split pulverized to 85% passing minus 75 micron. A four-acid digest is performed on 0.25g of sample to quantitatively dissolve most geological materials. Analysis is performed with a combination of ICP-AES and ICP-MS and fire assay.

The exploration results described herein are preliminary in nature and are insufficient to define a mineral resource. Further drilling is required to determine the continuity, geometry, and grade distribution of mineralization. At the time of this release analytical results remain pending.

*Metal values used in AgEq calculations are from the 200-day moving average values from 2/6/2026, and all values are in USD. PAu= $124.5/g, PAg= $1.58/g, PCu= $4.9/lbs, PPb=$0.90/lbs, PZn=$1.11/lbs, 0.00220462262 = grams-to-pounds conversion factor, 22.0462262 = pounds per tonne for 1% metal. Metal recoveries used in the AgEq calculation are Au: 95.5%, Ag: 92.9%, Pb: 89.2%, Zn: 93.8% and Cu 90.8%. These recovery values are derived from batch metallurgical testing used to estimate recoveries of Silver Hill ores, completed in 1988. Individual metal values in the results table are composited values and not factored by recovery. Metal recoveries are applied to their respective component of the AgEq calculation only.

Qualified Person
All scientific and technical information has been reviewed and approved by Darcy Vis, B.Sc., P.Geo., President of Tripoint Geological Services Ltd., a contractor of the Company, and a Qualified Person as defined under National Instrument ("NI") 43-101 - Standards of Disclosure for Mineral Projects.

Silver Hill Project

Located in the Carolina Terrane, the property is underlain by volcaniclastic and volcano-sedimentary rocks predominantly of Neoproterozoic and Cambrian age. Current interpretations suggest this terrane is an extension of the Avalon Terrane. The property is 1,225 acres located in Davidson County, North Carolina. As the first significant discovery and first silver-producing mine in America, the property is supported by an extensive historic dataset, including drillhole data, underground mapping, historic dumps and underground chip samples. Currently known mineralization extends to 550m from surface, in a steeply trending series of lenses, which remain open in multiple directions.

Byrd-Pilot Mountain Project

The Byrd-Pilot Mountain Project is located in central North Carolina within the Carolina Terrane. Initial USGS surveys in the 1980s identified the area as a potential host for a porphyry gold-copper system. Subsequent exploration demonstrated broad gold mineralization in soils, trenches, and shallow RC drilling, coincident with strong self-potential anomalies. Geology shows intense quartz-sericite-pyrite alteration, high-sulfidation signatures, and high-alumina minerals (like Haile and Brewer deposits to the south), suggesting potential for a large epithermal or porphyry-related gold system. Geologic modelling of currently identified mineralization indicates an east-west trend open in multiple directions, with oxidation noted down to a depth of 30m. No drilling has tested the Meridian discovery zone since those 1980s campaigns, leaving potential for significant resource expansion through work commitments of the agreement.

About Metalsource Mining Inc.

Metalsource Mining Inc. is a U.S.-focused precious and critical metals exploration company advancing the Silver Hill Project in North Carolina, widely recognized as America's first silver mine. A historically producing mining district dating back to 1839, Silver Hill produced silver, gold, lead and zinc during the formative years of the American mining industry and remains one of the most historically significant mining assets in the United States.

The Company is focused on expanding known mineralization, advancing toward a modern resource estimate, and unlocking the broader potential of the Silver Hill district through systematic drilling, geological modeling and modern exploration techniques.

Metalsource Mining
America's First Silver Mine. Modern Exploration. Historic Opportunity.

For further information, please contact:
Joe Cullen CEO - Metalsource Mining Inc.
Tel: (778) 919-8615
Email: [email protected]

Cautionary Note About Forward-Looking Statements

This news release may include forward-looking statements that are subject to risks and uncertainties. By its nature, this information is subject to ‎‎inherent risks and ‎‎uncertainties that may be general or specific and which give rise to the possibility that ‎‎expectations, ‎‎forecasts, predictions, projections, or conclusions will not prove to be accurate, that ‎‎assumptions may not ‎‎be correct, and that objectives, strategic goals and priorities will not be achieved. ‎‎These risks and ‎‎uncertainties include but are not limited those identified and reported in the Company's ‎‎public filings ‎‎under the Company's SEDAR profile at www.sedarplus.ca. Although the Company has ‎‎attempted to identify ‎‎important factors that could cause actual actions, events, or results to differ ‎‎materially from those ‎‎described in forward-looking information, there may be other factors that cause ‎‎actions, events or ‎‎results not to be as anticipated, estimated or intended. There can be no assurance that ‎‎such information ‎‎will prove to be accurate as actual results and future events could differ materially from ‎‎those ‎‎anticipated in such statements. The Company disclaims any intention or obligation to update or ‎‎revise any ‎‎forward-looking information, whether as a result of new information, future events or ‎‎otherwise unless ‎‎required by law.‎

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/305405

Source: Metalsource Mining Inc.

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Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the "long context," investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.

Even though momentum is a popular stock characteristic, it can be tough to define. Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.

Below, we take a look at MSC Industrial (MSM - Free Report) , which currently has a Momentum Style Score of A. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions.

It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. MSC Industrial currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of "A or B" outperform the market over the following one-month period.

You can see the current list of Zacks #1 Rank Stocks here >>>

Set to Beat the Market? In order to see if MSM is a promising momentum pick, let's examine some Momentum Style elements to see if this distributor of industrial tools and supplies holds up.

Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area.

For MSM, shares are up 3.89% over the past week while the Zacks Industrial Services industry is up 2.18% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 6.29% compares favorably with the industry's 1.05% performance as well.

Considering longer term price metrics, like performance over the last three months or year, can be advantageous as well. Over the past quarter, shares of MSC Industrial have risen 28.59%, and are up 36.47% in the last year. On the other hand, the S&P 500 has only moved 13.88% and 20.45%, respectively.

Investors should also take note of MSM's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. Right now MSM is averaging 831,047 shares for the last 20 days..

Earnings OutlookThe Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with MSM.

Over the past two months, 2 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost MSM's consensus estimate, increasing from $4.36 to $4.46 in the past 60 days. Looking at the next fiscal year, 2 estimates have moved upwards while there have been no downward revisions in the same time period.

Bottom LineTaking into account all of these elements, it should come as no surprise that MSM is a #1 (Strong Buy) stock with a Momentum Score of A. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep MSC Industrial on your short list.

MSC Industrial Direct Company, Inc. (NYSE:MSM) on Wednesday reported upbeat fiscal third-quarter 2026 results.

Adjusted earnings came in at $1.43 per share, beating the analyst consensus estimate of $1.26. Revenue increased 7.8% year over year to $1.047 billion, exceeding analysts’ expectations of $1.031 billion. Pricing contributed 720 basis points to growth, while volume added 50 basis points sequentially.

For the fiscal fourth quarter, MSC expects average daily sales growth of 6.5% to 8.5%, with June average daily sales projected to increase about 7%.

The company expects gross margin to decline 40 to 50 basis points sequentially because of normal seasonal trends. Adjusted operating margin is forecast to range between 10.0% and 10.8%, implying incremental operating margins in the mid-20% range.

MSC Industrial Direct shares rose 2.1% to trade at $125.90 on Thursday.

These analysts made changes to their price targets on MSC Industrial Direct following earnings announcement.

DA Davidson analyst Chris Dankert maintained the stock with a Buy and raised the price target from $145 to $150. Keybanc analyst Ken Newman maintained the stock with an Overweight rating and raised the price target from $132 to $145. Considering buying MSM stock? Here’s what analysts think:

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MSC Industrial (MSM - Free Report) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.

The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.

Individual investors often find it hard to make decisions based on rating upgrades by Wall Street analysts, since these are mostly driven by subjective factors that are hard to see and measure in real time. In these situations, the Zacks rating system comes in handy because of the power of a changing earnings picture in determining near-term stock price movements.

Therefore, the Zacks rating upgrade for MSC Industrial basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.

Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. That's partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.

For MSC Industrial, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.

Harnessing the Power of Earnings Estimate RevisionsAs empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.

The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .

Earnings Estimate Revisions for MSC IndustrialFor the fiscal year ending August 2026, this distributor of industrial tools and supplies is expected to earn $4.37 per share, which is unchanged compared with the year-ago reported number.

Analysts have been steadily raising their estimates for MSC Industrial. Over the past three months, the Zacks Consensus Estimate for the company has increased 1.1%.

Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.

You can learn more about the Zacks Rank here >>>

The upgrade of MSC Industrial to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.

Key Takeaways MSM says restructuring is mostly complete as volume trends and sales execution begin to improve.Q3 sales rose 7.8% YoY to $1.047B, while adjusted EPS increased to $1.43 from $1.08.MSM guided Q4 average daily sales growth of 6.5%-8.5% and adjusted operating margin of 10.0%-10.8%. MSC Industrial Direct Co., Inc. (MSM - Free Report) used its fiscal third-quarter earnings call to argue that its turnaround is moving past disruption and into execution. Management pointed to improving volume trends, firmer national account performance and better operating leverage as signs that recent structural changes are beginning to translate into cleaner results.

The central message was less about the quarter itself and more about what comes next. Executives said the company is now positioned to use a better industrial backdrop, tighter sales discipline and a leaner cost base to push toward stronger growth and a mid-teens operating margin over time.

MSM Puts New Metrics at the CenterPresident and CEO Martina McIsaac said MSC Industrial is now managing the business against a narrower set of targets: sales per rep per day, sales per total headcount, year-over-year volume improvement, adjusted operating margin expansion, adjusted incremental margin and return on invested capital. She framed those measures as the clearest way for investors to judge whether the turnaround is gaining traction.

McIsaac kept her tone measured. She said MSC Industrial is not yet producing breakout results, but described the quarter as a collection of smaller operational wins that indicate the company is heading in the right direction.

That matters because management is asking investors to focus less on one quarter’s headline numbers and more on whether productivity, volume and margin discipline are improving together.

MSC Industrial Says Sales Disruption Is EasingMcIsaac said the sales force optimization completed in December created noise in fiscal second quarter results, but that headwind is now largely behind the company. She cited improving average daily sales among affected customers and an inflection in national accounts as evidence that coverage and execution are stabilizing.

McIsaac also said sales per rep per day improved by the high teens year over year, even with 225 fewer field heads. That was presented as proof that MSC Industrial is generating more productivity from a smaller commercial footprint.

The remaining task, by management’s account, is to close the gap between customers least affected by the redesign and those still rebuilding relationships after rep changes or vacancies.

MSM Still Relies on Price but Wants More VolumeThird-quarter sales increased 7.8% year over year to $1.05 billion, beating the Zacks Consensus Estimate of $1.03 billion by 1.74%. Adjusted EPS rose to $1.43 from $1.08 a year earlier, surpassing the Zacks Consensus Estimate of $1.28.

Interim CFO Greg Clark said price remained the main growth driver, contributing 720 basis points to sales growth, while volume added 50 basis points. Even so, management repeatedly stressed that volume improved through the quarter and turned positive across customer types.

McIsaac also made clear that MSC Industrial does not want the story to remain price-led. She told analysts the company would prefer to keep gross margin around the 40% to 41% range and use efficiency gains and pricing discipline to support competitiveness and volume growth.

MSC Industrial Pushes Productivity HarderClark said adjusted operating margin reached 10.6%, up from 9% a year ago, while adjusted operating expenses fell 150 basis points as a percentage of sales. He attributed the improvement to productivity and headcount actions, lower freight expense and reduced duplicate commission costs under the new sales structure.

McIsaac said the bigger internal benchmark remains headcount efficiency. She told analysts that MSC Industrial is still about 1,000 heads heavy relative to peer benchmarks at current revenue levels and said progress should be tracked through sales per head and absolute non-sales headcount.

That benchmark turned into one of the call’s most important themes because management tied future margin expansion to AI, automation and process redesign rather than to gross margin expansion alone.

MSM Sees Broader Signs of RecoveryManagement said industrial demand is improving, though still unevenly. McIsaac described the recovery as being around the third inning and pointed to changing summer shutdown patterns, especially in automotive, as one of the clearest behavioral signals that conditions are getting better.

Clark also highlighted stronger solutions activity. Vending machine installations rose 7% to about 30,800, in-plant programs increased 7% to 426, and average daily sales through vending and in-plant customers rose 15% and 16%, respectively.

In Q&A, management added that automotive turned positive in June and that vending and in-plant sales per unit were up high single digits, reinforcing the argument that volume is improving underneath the pricing tailwind.

MSC Industrial Keeps the Q4 Bar FirmFor the fiscal fourth quarter, MSC Industrial guided to average daily sales growth of 6.5% to 8.5% and an adjusted operating margin of 10% to 10.8%. Clark said the outlook assumes a normal 40 to 50 basis point sequential gross margin decline and mid-20s adjusted incremental margin.

A D.A. Davidson analyst asked how much of the guide depends on pricing versus volume. Ryan Mills, head of investor relations, said price should run in the 6.5% to 7% range in the fiscal fourth quarter, implying volume improvement at the midpoint despite tougher comparisons.

A Stephens analyst also challenged whether the outlook assumes too much momentum after a strong June. Mills responded that the midpoint implies only a modest step-up versus June and said the company feels confident in the current demand and execution backdrop.

MSM Leaves a Constructive but Measured SignalBy the end of the call, management’s posture was clear: the restructuring phase is mostly complete, and the next phase is proving that improved sales execution and lower structural cost can produce sustained volume and margin gains. McIsaac sounded confident, but she did not overreach on the pace of that payoff.

MSM currently carries a Zacks Rank #2 (Buy), with a Value Score of C, Growth Score of B, Momentum Score of C and VGM Score of B. The rank remains the primary signal, while A and B Style Scores are the more favorable combinations, especially with a Zacks Rank #1 (Strong Buy) or #2. The current mix points to a constructive near-term profile, although the Zacks Rank can change as earnings estimate revisions shift after the quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.

MSC Industrial Direct Co., Inc. (MSM) Q3 2026 Earnings Call Transcript

Wednesday, 01 July 2026 06:30 AM

Topic: 

Earnings FISCAL 2026 Q3 HIGHLIGHTS

Net sales of $1,047.1 million increased 7.8% YoY

Operating income of $106.7 million, or $111.2 million on an adjusted basis1

Operating margin of 10.2%, or 10.6% on an adjusted basis1

Diluted EPS of $1.44 vs. $1.02 in the prior fiscal year quarter

Adjusted diluted EPS of $1.43 vs. $1.08 in the prior fiscal year quarter1

MELVILLE, NY AND DAVIDSON, NC / ACCESS Newswire / July 1, 2026 / MSC INDUSTRIAL SUPPLY CO. (NYSE:MSM) ("MSC," "MSC Industrial," the "Company," "we," "us," or "our"), a leading North American distributor of a broad range of metalworking and maintenance, repair and operations (MRO) products and services, today reported financial results for its fiscal 2026 third quarter ended May 30, 2026.

Financial Highlights 2

FY26 Q3

FY25 Q3

Change

FY26 YTD

FY25 YTD

Change

Net Sales

$

1,047.1

$

971.1

7.8

%

$

2,930.5

$

2,791.3

5.0

%

Income from Operations

$

106.7

$

82.7

29.0

%

$

247.8

$

217.3

14.0

%

Operating Margin

10.2

%

8.5

%

8.5

%

7.8

%

Net Income Attributable to MSC

$

80.4

$

56.8

41.4

%

$

174.7

$

142.8

22.3

%

Diluted EPS

$

1.44

3

$

1.02

4

41.2

%

$

3.12

3

$

2.55

4

22.4

%

Adjusted Financial Highlights 2

FY26 Q3

FY25 Q3

Change

FY26 YTD

FY25 YTD

Change

Net Sales

$

1,047.1

$

971.1

7.8

%

$

2,930.5

$

2,791.3

5.0

%

Adjusted Income from Operations 1

$

111.2

$

87.2

27.5

%

$

261.5

$

225.5

16.0

%

Adjusted Operating Margin 1

10.6

%

9.0

%

8.9

%

8.1

%

Adjusted Net Income Attributable to MSC 1

$

79.9

$

60.2

32.7

%

$

181.2

$

149.0

21.6

%

Adjusted Diluted EPS 1

$

1.43

3

$

1.08

4

32.4

%

$

3.24

3

$

2.67

4

21.3

%

1 Represents a non-GAAP financial measure. An explanation and a reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure are presented in the schedules accompanying this press release.
2 In millions except percentages and per share data or as otherwise noted.
3 Based on 56.0 million weighted-average diluted shares outstanding for FY26 Q3 and FY26 YTD.
4 Based on 55.8 million and 55.9 million weighted-average diluted shares outstanding for FY25 Q3 and FY25 YTD, respectively.

Martina McIsaac, President and Chief Executive Officer, said, "Our fiscal 3Q results that exceeded expectations provide evidence that we are fundamentally doing more with less and taking the right steps. Underpinning this improved performance was strength in the Core Customer, which continued to outperform the total company, and notable improvement in National Accounts. I am grateful for the hard work and dedication of our team members that has allowed us to advance the strategic changes being made to strengthen the business."

Greg Clark, Vice President and Interim Chief Financial Officer, added, "Average daily sales exceeded the high-end of our outlook with year-over-year improvement of 7.8% driven by benefits from price and volumes returning to growth in the quarter. We successfully capitalized on this growth by delivering 170 basis points of operating margin expansion, or 160 basis points on an adjusted basis year-over-year, above the higher end of our outlook range. This improved performance resulted in meaningful GAAP and adjusted earnings per share growth of more than 40% and 30% respectively, as well as an incremental operating margin of 32% in the quarter."

McIsaac concluded, "While we are encouraged by these results, there is further room to improve. We will continue advancing the benefits from our strategic initiatives and improving our cost structure that supported our improved performance this quarter. I am confident this progress will continue, which will be critical in the coming quarters as we begin to lap stronger benefits from price."

Fourth Quarter Fiscal 2026 Financial Outlook

ADS Growth (YoY)

6.5% - 8.5%

Adjusted Operating Margin1

10.0% - 10.8%

Full-Year Fiscal 2026 Outlook for Certain Financial Metrics Maintained

Depreciation and amortization expense of ~$100M

Interest and other expense of ~$30M2

Capital expenditures of ~$90M

Free cash flow conversion1 of ~95%

Tax rate of ~24.5%-25.5%

1 Guidance provided is a non-GAAP financial measure presented on an adjusted basis. For further details see the Non-GAAP financial measures information presented in the schedules accompanying this press release.
2 Includes $5.1M of Employee Retention Credit tax benefit recognized in the fiscal third quarter

Conference Call Information
MSC will host a conference call today at 8:30 a.m. EDT to review the Company's fiscal 2026 third quarter results. To access the earnings release, webcast, presentation slides and operational statistics, please visit the Company's website at: http://investor.mscdirect.com. Alternatively, the conference call can be accessed by dialing 1-888-506-0062 (U.S.) or 1-973-528-0011 (international) and providing the access code 895916.

An online archive of the broadcast will be available within one hour of the conclusion of the call and remain available until Wednesday, July 15, 2026. The Company's reporting date for its fiscal 2026 fourth quarter and full year results is scheduled for October 22, 2026.

Contact Information

Investors:

Media:

Ryan Mills, CFA

Leah Kelso

VP, Investor Relations & Business Development

VP, Communications & Sales Enablement

[email protected]

[email protected]

About MSC Industrial Supply Co.
MSC Industrial Supply Co. (NYSE:MSM) is a leading North American distributor of a broad range of metalworking, maintenance, repair and operations (MRO), and production fastener and hardware products and services. With approximately 2.5 million products, industry‑leading inventory management and supply chain solutions, and more than 80 years of experience, we help customers improve productivity, profitability, and operational performance.

Our team of over 7,000 associates partners closely with customers across industries to keep their operations running efficiently today while enabling them with insights and comprehensive solutions to continually rethink, retool, and optimize for a more productive tomorrow.

For more information on MSC Industrial, please visit mscdirect.com.

Cautionary Note Regarding Forward-Looking Statements
Statements in this press release may constitute "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. All statements, other than statements of present or historical fact, that address activities, events or developments that MSC expects, believes or anticipates will or may occur in the future, including statements about results of operations and financial condition, expected future results, expected benefits from our investment and strategic plans and other initiatives, and expected future growth and profitability, are forward-looking statements. The words "will," "may," "believes," "anticipates," "thinks," "expects," "estimates," "plans," "intends" and similar expressions are intended to identify forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those anticipated by these forward-looking statements. In addition, statements which refer to expectations, projections or other characterizations of future events or circumstances, statements involving a discussion of strategy, plans or intentions, statements about management's assumptions, projections or predictions of future events or market outlook and any other statement other than a statement of present or historical fact are forward-looking statements. The inclusion of any statement in this press release does not constitute an admission by MSC or any other person that the events or circumstances described in such statement are material. In addition, new risks may emerge from time to time and it is not possible for management to predict such risks or to assess the impact of such risks on our business or financial results. Accordingly, future results may differ materially from historical results or from those discussed or implied by these forward-looking statements. Given these risks and uncertainties, the reader should not place undue reliance on these forward-looking statements. These risks and uncertainties include, but are not limited to, the following: general economic conditions in the markets in which we operate; changing customer and product mixes; volatility in commodity, energy and labor prices, and the impact of prolonged periods of low, high or rapid inflation; competition, including the adoption by competitors of aggressive pricing strategies or sales methods; industry consolidation and other changes in the industrial distribution sector; the applicability of laws and regulations relating to our status as a supplier to the U.S. government and public sector; the credit risk of our customers; our ability to accurately forecast customer demands; interruptions in our ability to make deliveries to customers; supply chain disruptions; our ability to attract and retain sales and customer service personnel; the risk of loss of key suppliers or contractors or key brands; changes to trade policies or trade relationships, including tariff policies; risks associated with opening or expanding our customer fulfillment centers; our ability to estimate the cost of healthcare claims incurred under our self-insurance plan; interruption of operations at our headquarters or customer fulfillment centers; products liability due to the nature of the products that we sell; impairments of goodwill and other indefinite-lived intangible assets; the impact of climate change; operating and financial restrictions imposed by the terms of our material debt instruments; our ability to access additional liquidity; the significant influence that our principal shareholders will continue to have over our decisions; our ability to execute on our E-commerce strategies and maintain our digital platforms; costs associated with maintaining our information technology ("IT") systems and complying with data privacy laws; disruptions or breaches of our IT systems or violations of data privacy laws, including such disruptions or breaches in connection with our E-commerce channels; risks related to online payment methods and other online transactions; the retention of key management personnel; litigation risk due to the nature of our business; failure to comply with environmental, health, and safety laws and regulations; and our ability to comply with, and the costs associated with, social and environmental responsibility policies. Additional information concerning these and other risks is described under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual and Quarterly Reports on Forms 10-K and 10-Q, respectively, and in the other reports and documents that we file with the United States Securities and Exchange Commission. We expressly disclaim any obligation to update any of these forward-looking statements, except to the extent required by applicable law.

MSC INDUSTRIAL DIRECT CO., INC.
Condensed Consolidated Balance Sheets
(In thousands)

May 30,
2026

August 30,
2025

ASSETS

(Unaudited)

Current Assets:

Cash and cash equivalents

$

74,094

$

56,228

Accounts receivable, net of allowance for credit losses

413,258

423,306

Inventories

684,118

644,090

Prepaid expenses and other current assets

105,280

102,930

Total current assets

1,276,750

1,226,554

Property, plant and equipment, net

343,887

346,706

Goodwill

724,075

723,702

Identifiable intangibles, net

73,819

85,455

Operating lease assets

48,148

52,464

Other assets

28,982

27,183

Total assets

$

2,495,661

$

2,462,064

LIABILITIES AND SHAREHOLDERS' EQUITY

Current Liabilities:

Current portion of debt including obligations under finance leases

$

417,219

$

316,868

Current portion of operating lease liabilities

22,500

22,236

Accounts payable

229,418

225,150

Accrued expenses and other current liabilities

155,596

165,092

Total current liabilities

824,733

729,346

Long-term debt including obligations under finance leases

89,555

168,831

Noncurrent operating lease liabilities

26,150

30,872

Deferred income taxes and tax uncertainties

135,802

136,513

Total liabilities

1,076,240

1,065,562

Commitments and Contingencies

Shareholders' Equity:

Preferred Stock

-

-

Class A Common Stock

57

57

Additional paid-in capital

1,107,522

1,093,630

Retained earnings

451,403

432,622

Accumulated other comprehensive loss

(19,528

)

(20,736

)

Class A treasury stock, at cost

(120,033

)

(117,363

)

Total MSC Industrial shareholders' equity

1,419,421

1,388,210

Noncontrolling interest

-

8,292

Total shareholders' equity

1,419,421

1,396,502

Total liabilities and shareholders' equity

$

2,495,661

$

2,462,064

MSC INDUSTRIAL DIRECT CO., INC.
Condensed Consolidated Statements of Income
(In thousands, except per share data)
(Unaudited)

Thirteen Weeks Ended

Thirty-Nine Weeks Ended

May 30,
2026

May 31,
2025

May 30,
2026

May 31,
2025

Net sales

$

1,047,083

$

971,145

$

2,930,541

$

2,791,346

Cost of goods sold

616,678

573,406

1,729,871

1,650,190

Gross profit

430,405

397,739

1,200,670

1,141,156

Operating expenses

323,660

312,324

945,570

917,465

Restructuring and other costs

-

2,680

7,324

6,430

Income from operations

106,745

82,735

247,776

217,261

Other income (expense):

Interest expense

(5,383

)

(6,031

)

(16,386

)

(18,332

)

Interest income

156

368

561

942

Other income (expense), net

2,726

(1,958

)

(4,175

)

(12,442

)

Total other expense

(2,501

)

(7,621

)

(20,000

)

(29,832

)

Income before provision for income taxes

104,244

75,114

227,776

187,429

Provision for income taxes

25,539

18,253

55,805

45,727

Net income

78,705

56,861

171,971

141,702

Less: Net (loss) income attributable to noncontrolling interest

(1,657

)

16

(2,679

)

(1,080

)

Net income attributable to MSC Industrial

$

80,362

$

56,845

$

174,650

$

142,782

Per share data attributable to MSC Industrial:

Net income per common share:

Basic

$

1.44

$

1.02

$

3.13

$

2.56

Diluted

$

1.44

$

1.02

$

3.12

$

2.55

Weighted-average shares used in computing

net income per common share:

Basic

55,838

55,694

55,817

55,795

Diluted

55,990

55,765

55,955

55,895

MSC INDUSTRIAL DIRECT CO., INC.
Condensed Consolidated Statements of Comprehensive Income
(In thousands)
(Unaudited)

Thirteen Weeks Ended

Thirty-Nine Weeks Ended

May 30,
2026

May 31,
2025

May 30,
2026

May 31,
2025

Net income, as reported

$

78,705

$

56,861

$

171,971

$

141,702

Other comprehensive income, net of tax:

Foreign currency translation adjustments

(1,172

)

6,208

1,557

(454

)

Comprehensive income

77,533

63,069

173,528

141,248

Comprehensive income attributable to noncontrolling interest:

Net loss (income)

1,657

(16

)

2,679

1,080

Foreign currency translation adjustments

82

(362

)

(349

)

(71

)

Comprehensive income attributable to MSC Industrial

$

79,272

$

62,691

$

175,858

$

142,257

MSC INDUSTRIAL DIRECT CO., INC.
Condensed Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)

Thirty-Nine Weeks Ended

May 30,
2026

May 31,
2025

Cash Flows from Operating Activities:

Net income

$

171,971

$

141,702

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization

75,788

67,501

Amortization of cloud computing arrangements

964

1,439

Non-cash operating lease cost

17,691

17,563

Stock-based compensation

14,423

10,397

Loss on disposal of property

611

1,742

Property, plant and equipment asset impairment

1,890

-

Non-cash changes in fair value of estimated contingent consideration

(696

)

293

Provision for credit losses

8,054

5,699

Expenditures for cloud computing arrangements

(3,896

)

(4,430

)

Deferred income taxes and tax uncertainties

(578

)

(726

)

Changes in operating assets and liabilities:

Accounts receivable

2,959

(3,806

)

Inventories

(37,951

)

(4,761

)

Prepaid expenses and other current assets

(357

)

(2,335

)

Operating lease liabilities

(17,834

)

(17,700

)

Other assets

4

62

Accounts payable and accrued liabilities

(7,508

)

40,821

Total adjustments

53,564

111,759

Net cash provided by operating activities

225,535

253,461

Cash Flows from Investing Activities:

Expenditures for property, plant and equipment

(64,130

)

(71,109

)

Cash used in acquisitions

(240

)

(790

)

Net proceeds from sale of property

1,057

30,336

Net cash used in investing activities

(63,313

)

(41,563

)

Cash Flows from Financing Activities:

Repurchases of Class A Common Stock

(13,894

)

(39,138

)

Payments of regular cash dividends

(145,752

)

(142,252

)

Proceeds from sale of Class A Common Stock in connection with Associate Stock Purchase Plan

2,999

3,193

Borrowings under credit facilities

271,000

239,250

Payments under credit facilities

(251,000

)

(226,750

)

Purchase of noncontrolling interest

(8,195

)

-

Other, net

568

(3,901

)

Net cash used in financing activities

(144,274

)

(169,598

)

Effect of foreign exchange rate changes on cash and cash equivalents

(82

)

(196

)

Net increase in cash and cash equivalents

17,866

42,104

Cash and cash equivalents - beginning of period

56,228

29,588

Cash and cash equivalents - end of period

$

74,094

$

71,692

Supplemental Disclosure of Cash Flow Information:

Cash paid for income taxes

$

58,763

$

35,402

Cash paid for interest

$

16,448

$

18,036

Non-GAAP Financial Measures

To supplement MSC's unaudited selected financial data presented consistent with accounting principles generally accepted in the United States ("GAAP"), the Company discloses certain non-GAAP financial measures, including non-GAAP operating expenses, non-GAAP income from operations, non-GAAP operating margin, non-GAAP incremental operating margin, non-GAAP provision for income taxes, non-GAAP net income and non-GAAP diluted earnings per share, that exclude items such as share reclassification litigation costs, employee retention credit ("ERC") tax benefit, restructuring and other costs, property, plant and equipment asset impairment and loss on sale of property (prior year), and tax effects, as well as free cash flow conversion, which is a measure calculated using free cash flow, which is a non-GAAP measure.

These non-GAAP financial measures are not presented in accordance with GAAP or alternatives for GAAP financial measures and may be different from similar non-GAAP financial measures used by other companies. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the most directly comparable GAAP financial measure and should only be used to evaluate MSC's results of operations in conjunction with the corresponding GAAP financial measure.

This press release also includes certain forward-looking information that is not presented in accordance with GAAP, including adjusted operating margin and free cash flow conversion. The Company believes that a quantitative reconciliation of such forward-looking information to the most directly comparable financial measures calculated and presented in accordance with GAAP cannot be made available without unreasonable efforts because a reconciliation of these non-GAAP financial measures would require the Company to predict the timing and likelihood of potential future events such as restructurings, M&A activity, capital expenditures and other infrequent or unusual gains and losses. Neither the timing or likelihood of these events, nor their probable significance, can be quantified with a reasonable degree of accuracy. Accordingly, a reconciliation of such forward-looking information to the most directly comparable GAAP financial measures is not provided.

Incremental Operating Margin and Adjusted Incremental Operating Margin

The Company defines Incremental Operating Margin as the change in year-over-year Income from Operations as a percentage of the change in year-over-year Net Sales and Adjusted Incremental Operating Margin as Incremental Operating Margin adjusted to exclude such items listed above from Income from Operations. The Company's management believes that Incremental Operating Margin is useful because it shows the direction that operating profit margins are moving as a result of changes in net sales between periods, and that, by excluding the aforementioned items, Adjusted Incremental Operating Margin helps to more clearly show, on a comparable basis between periods, trends in the Company's underlying business and results of operations. The Company believes that investors benefit from seeing results from the perspective of management in addition to seeing results presented in accordance with GAAP for the same reasons and purposes for which management uses such non-GAAP financial measures.

Free Cash Flow ("FCF") and Free Cash Flow Conversion ("FCF Conversion")

FCF is a non-GAAP financial measure. FCF is used in addition to and in conjunction with results presented in accordance with GAAP, and FCF should not be relied upon to the exclusion of GAAP financial measures. Management strongly encourages investors to review our financial statements and publicly filed reports in their entirety and to not rely on any single financial measure. FCF, which we reconcile to "Net cash provided by operating activities," is cash flow from operations reduced by "Expenditures for property, plant and equipment". We believe that FCF, although similar to cash flow from operations, is a useful additional measure since capital expenditures are a necessary component of ongoing operations. Management also views FCF, as a measure of the Company's ability to reduce debt, add to cash balances, pay dividends, and repurchase stock. FCF has limitations due to the fact that it does not represent the residual cash flow available for discretionary expenditures. For example, FCF does not incorporate payments made on finance lease obligations or required debt service payments. In addition, different companies define FCF differently. Therefore, we believe it is important to view FCF as a complement to our entire consolidated statements of cash flows. FCF Conversion is useful to investors for the foregoing reasons and as a measure of the rate at which the Company converts its net income reported in accordance with GAAP to cash inflows, which helps investors assess whether the Company is generating sufficient cash flow to provide an adequate return.

Results Excluding Share Reclassification Litigation Costs, ERC Tax Benefit, Restructuring and Other Costs, Property, Plant and Equipment Asset Impairment and Loss on Sale of Property (prior year), and tax effects.

In calculating certain non-GAAP financial measures, we exclude items such as share reclassification litigation costs, ERC tax benefit, restructuring and other costs, property, plant and equipment asset impairment and loss on sale of property (prior year), and tax effects.

Management makes these adjustments to facilitate a review of the Company's operating performance on a comparable basis between periods, for comparing with forecasts and strategic plans, for identifying and analyzing trends in the Company's underlying business and for benchmarking performance externally against competitors. We believe that investors benefit from seeing results from the perspective of management in addition to seeing results presented in accordance with GAAP for the same reasons and purposes for which management uses such non-GAAP financial measures.

MSC INDUSTRIAL DIRECT CO., INC.
Reconciliation of GAAP and Non-GAAP Financial Information
Thirteen Weeks Ended May 30, 2026
(In thousands, except percentages and per share data)

GAAP Financial Measure

Items Affecting Comparability

Non-GAAP Financial Measure

Total MSC Industrial

Share Reclassification Litigation Costs

ERC Tax Benefit

Adjusted Total MSC Industrial

Net Sales

$

1,047,083

$

-

$

-

$

1,047,083

Cost of Goods Sold

616,678

-

-

616,678

Gross Profit

430,405

-

-

430,405

Gross Margin

41.1

%

-

%

-

%

41.1

%

Operating Expenses

323,660

4,489

-

319,171

Operating Expenses as % of Sales

30.9

%

(0.4)

%

-

%

30.5

%

Income from Operations

106,745

(4,489

)

-

111,234

Operating Margin

10.2

%

0.4

%

-

%

10.6

%

Total Other Expense

(2,501

)

-

5,129

(7,630

)

Income before provision for income taxes

104,244

(4,489

)

5,129

103,604

Provision for income taxes

25,539

(1,100

)

1,256

25,383

Net income

78,705

(3,389

)

3,873

78,221

Net loss attributable to noncontrolling interest

(1,657

)

-

-

(1,657

)

Net income attributable to MSC Industrial

$

80,362

$

(3,389

)

$

3,873

$

79,878

Net income per common share:

Diluted

$

1.44

$

(0.06

)

$

0.07

$

1.43

*Individual amounts may not agree to the total due to rounding.

MSC INDUSTRIAL DIRECT CO., INC.
Reconciliation of GAAP and Non-GAAP Financial Information
Thirty-Nine Weeks Ended May 30, 2026
(In thousands, except percentages and per share data)

GAAP Financial Measure

Items Affecting Comparability

Non-GAAP Financial Measure

Total MSC Industrial

Restructuring and Other Costs

Share Reclassification Litigation Costs

ERC Tax Benefit

Property, Plant and Equipment Asset Impairment

Adjusted Total MSC Industrial

Net Sales

$

2,930,541

$

-

$

-

$

-

$

-

$

2,930,541

Cost of Goods Sold

1,729,871

-

-

-

-

1,729,871

Gross Profit

1,200,670

-

-

-

-

1,200,670

Gross Margin

41.0

%

-

%

-

%

-

%

-

%

41.0

%

Operating Expenses

945,570

-

4,540

-

1,890

939,140

Operating Expenses as % of Sales

32.3

%

-

%

(0.2)

%

-

%

(0.1)

%

32.0

%

Restructuring and Other Costs

7,324

7,324

-

-

-

-

Income from Operations

247,776

(7,324

)

(4,540

)

-

(1,890

)

261,530

Operating Margin

8.5

%

0.2

%

0.2

%

-

%

0.1

%

8.9

%

Total Other Expense

(20,000

)

-

-

5,129

-

(25,129

)

Income before provision for income taxes

227,776

(7,324

)

(4,540

)

5,129

(1,890

)

236,401

Provision for income taxes

55,805

(1,794

)

(1,113

)

1,257

(463

)

57,918

Net income

171,971

(5,530

)

(3,427

)

3,872

(1,427

)

178,483

Net loss attributable to noncontrolling interest

(2,679

)

-

-

-

-

(2,679

)

Net income attributable to MSC Industrial

$

174,650

$

(5,530

)

$

(3,427

)

$

3,872

$

(1,427

)

$

181,162

Net income per common share:

Diluted

$

3.12

$

(0.10

)

$

(0.06

)

$

0.07

$

(0.03

)

$

3.24

*Individual amounts may not agree to the total due to rounding.

MSC INDUSTRIAL DIRECT CO., INC.
Reconciliation of GAAP and Non-GAAP Financial Information
Thirteen Weeks Ended May 30, 2026 and May 31, 2025
(In thousands, except percentages and per share data)

GAAP Financial Measure

Items Affecting Comparability

Non-GAAP Financial Measure

Total MSC Industrial

Restructuring and Other Costs

Share Reclassification Litigation Costs

Loss on Sale of Property

Adjusted Total MSC Industrial

Net Sales - thirteen weeks ended May 30, 2026

$

1,047,083

-

-

-

$

1,047,083

Net Sales - thirteen weeks ended May 31, 2025

971,145

-

-

-

971,145

Income from Operations - thirteen weeks ended May 30, 2026

106,745

-

(4,489

)

-

111,234

Income from Operations - thirteen weeks ended May 31, 2025

82,735

(2,680

)

(644

)

(1,167

)

87,226

Incremental Operating Margin - thirteen weeks ended May 30, 2026

31.6

%

(3.5)

%

5.1

%

(1.5)

%

31.6

%

*Individual amounts may not agree to the total due to rounding.

MSC INDUSTRIAL DIRECT CO., INC.
Reconciliation of GAAP and Non-GAAP Financial Information
Thirty-Nine Weeks Ended May 30, 2026 and May 31, 2025
(In thousands, except percentages and per share data)

GAAP Financial Measure

Items Affecting Comparability

Non-GAAP Financial Measure

Total MSC Industrial

Restructuring and Other Costs

Share Reclassification Litigation Costs

Property, Plant and Equipment Asset Impairment

Loss on Sale of Property

Adjusted Total MSC Industrial

Net Sales - thirty-nine weeks ended May 30, 2026

$

2,930,541

-

-

-

-

$

2,930,541

Net Sales - thirty-nine weeks ended May 31, 2025

2,791,346

-

-

-

-

2,791,346

Income from Operations - thirty-nine weeks ended May 30, 2026

247,776

(7,324

)

(4,540

)

(1,890

)

-

261,530

Income from Operations - thirty-nine weeks ended May 31, 2025

217,261

(6,430

)

(644

)

-

(1,167

)

225,502

Incremental Operating Margin - thirty-nine weeks ended May 30, 2026

21.9

%

0.6

%

2.8

%

1.4

%

(0.8)

%

25.9

%

*Individual amounts may not agree to the total due to rounding.

MSC INDUSTRIAL DIRECT CO., INC.
Reconciliation of GAAP and Non-GAAP Financial Information
Thirteen Weeks Ended May 31, 2025
(In thousands, except percentages and per share data)

GAAP Financial Measure

Items Affecting Comparability

Non-GAAP Financial Measure

Total MSC Industrial

Restructuring and Other Costs

Loss on Sale of Property

Share Reclassification Litigation Costs

Adjusted Total MSC Industrial

Net Sales

$

971,145

$

-

$

-

$

-

$

971,145

Cost of Goods Sold

573,406

-

-

-

573,406

Gross Profit

397,739

-

-

-

397,739

Gross Margin

41.0

%

-

%

-

%

-

%

41.0

%

Operating Expenses

312,324

-

1,167

644

310,513

Operating Expenses as % of Sales

32.2

%

-

%

(0.1)

%

(0.1)

%

32.0

%

Restructuring and Other Costs

2,680

2,680

-

-

-

Income from Operations

82,735

(2,680

)

(1,167

)

(644

)

87,226

Operating Margin

8.5

%

0.3

%

0.1

%

0.1

%

9.0

%

Total Other Expense

(7,621

)

-

-

-

(7,621

)

Income before provision for income taxes

75,114

(2,680

)

(1,167

)

(644

)

79,605

Provision for income taxes

18,253

(651

)

(284

)

(156

)

19,344

Net income

56,861

(2,029

)

(883

)

(488

)

60,261

Net income attributable to noncontrolling interest

16

-

-

-

16

Net income attributable to MSC Industrial

$

56,845

$

(2,029

)

$

(883

)

$

(488

)

$

60,245

Net income per common share:

Diluted

$

1.02

$

(0.04

)

$

(0.02

)

$

(0.01

)

$

1.08

*Individual amounts may not agree to the total due to rounding.

MSC INDUSTRIAL DIRECT CO., INC.
Reconciliation of GAAP and Non-GAAP Financial Information
Thirty-Nine Weeks Ended May 31, 2025
(In thousands, except percentages and per share data)

GAAP Financial Measure

Items Affecting Comparability

Non-GAAP Financial Measure

Total MSC Industrial

Restructuring and Other Costs

Loss on Sale of Property

Share Reclassification Litigation Costs

Adjusted Total MSC Industrial

Net Sales

$

2,791,346

$

-

$

-

$

-

$

2,791,346

Cost of Goods Sold

1,650,190

-

-

-

1,650,190

Gross Profit

1,141,156

-

-

-

1,141,156

Gross Margin

40.9

%

-

%

-

%

-

%

40.9

%

Operating Expenses

917,465

-

1,167

644

915,654

Operating Expenses as % of Sales

32.9

%

-

%

0.0

%

0.0

%

32.8

%

Restructuring and Other Costs

6,430

6,430

-

-

-

Income from Operations

217,261

(6,430

)

(1,167

)

(644

)

225,502

Operating Margin

7.8

%

0.2

%

0.0

%

0.0

%

8.1

%

Total Other Expense

(29,832

)

-

-

-

(29,832

)

Income before provision for income taxes

187,429

(6,430

)

(1,167

)

(644

)

195,670

Provision for income taxes

45,727

(1,574

)

(285

)

(157

)

47,743

Net income

141,702

(4,856

)

(882

)

(487

)

147,927

Net loss attributable to noncontrolling interest

(1,080

)

-

-

-

(1,080

)

Net income attributable to MSC Industrial

$

142,782

$

(4,856

)

$

(882

)

$

(487

)

$

149,007

Net income per common share:

Diluted

$

2.55

$

(0.09

)

$

(0.02

)

$

(0.01

)

$

2.67

*Individual amounts may not agree to the total due to rounding.

SOURCE: MSC Industrial Direct Co.

Vancouver, British Columbia--(Newsfile Corp. - June 30, 2026) - Metalsource Mining Inc. (CSE: MSM) (OTCQB: MSMMF) (FSE: E9Z) ("Metalsource" or the "Company") is pleased to announce additional assay results from its ongoing drill program at Silver Hill, where systematic step out drilling continues to improve management's understanding of the continuity and orientation of a growing high grade polymetallic system. Hole SH26-19 returned 6.28 metres grading 1,156 g/t silver equivalent ("AgEq"), including 3.6 metres grading 1,789 g/t AgEq. Positioned at the southern edge of recent drilling, the intersection contains elevated gold and silver values coincident with high grade massive sphalerite, providing additional confidence in the Company's evolving geological model and continued vectoring toward new mineralization.

The Silver Hill polymetallic system remains open along strike, down plunge and at depth. With multiple drill hole results currently pending, Metalsource believes the current exploration program is still in the early stages of defining the scale and continuity of the system.

SH26-19: Tested the down plunge projection of the emerging high grade polymetallic corridor defined by drill holes SH25-01, SH25-02, SH26-07 and SH26-11. The hole returned composite values of up to 35% combined lead and zinc and up to 16.5 g/t gold, further supporting management's evolving geological model and continued vectoring toward higher grade portions of the system. Mineralization encountered in SH26-19 comprises two mineralized intervals separated by less than two metres. The upper 3.60 metre interval is characterized by elevated gold and zinc values with moderate silver and lead. The lower interval (224.00 m to 228.23 m) is characterized by elevated silver and lead values with moderate gold and zinc.

A 3.05 metre interval of core was not recovered between 224.88 metres and 227.93 metres. Based on the position of the interval relative to mapped historic underground workings, the Company interprets the core loss to represent previously mined material. High grade mineralization intersected immediately above and below the interval is consistent with this interpretation and provides additional support for the continuity of the mineralized corridor across the historic workings. Additional drilling will be required to confirm continuity through the interpreted mined section.

SH26-19 continues to support our thesis that Silver Hill is a viable exploration target with widespread polymetallic mineralization that has an emerging high-grade core. This trend continues to guide exploration planning as we work to grow mineralization along strike and down dip. Step out drilling to the south of SH26-19 is in progress.

Drill Hole IDFrom (m)To (m)Length (m)Au (g/t)Ag (g/t)Pb (%)Zn (%)Cu (%)AgEq (g/t)SH26-19218.60224.886.289.954.03.721.70.11,156Including218.60222.203.6016.543.72.832.20.11,789Including224.00224.880.882.7157.310.818.90.3762And227.93228.230.303.364.64.215.90.3609Table 1: Composite assay results from SH26-19. Widths reported are core length, as additional data is needed to estimate the true width of intercepts at this stage of the project. *Details on AgEq calculations below.

Figure 1: Panoramic photograph showing mineralization from SH26-19.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12035/303407_c9928610d4fde9c0_002full.jpg

Figure 2: Plan view of the Silver Hill project area showing the location of Pads 1-5. Transparent aerial image shows position of underground historic workings.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12035/303407_c9928610d4fde9c0_003full.jpg

Figure 3: Long section looking southeast (113°) showing intercept locations colored by AgEq. Black dots indicate intercepts with pending assays. Note: Small colored dots within historic workings are bulk samples taken by previous workers and are colored by AgEq. 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12035/303407_c9928610d4fde9c0_004full.jpg

Joe Cullen, CEO of Metalsource Mining, commented:

"Hole SH26-19 represents another important step forward in our understanding of the Silver Hill system. While the grades are certainly encouraging, what excites us most is that this hole successfully extends the emerging high grade corridor approximately 33 metres down plunge while continuing to demonstrate the continuity of silver, gold, lead and zinc mineralization. Each successful step out gives us greater confidence that we're tracking a coherent mineralized system rather than isolated high grade zones.

"As our geological model continues to evolve, we believe we're becoming increasingly effective at vectoring toward the higher grade portions of the system. The consistency of the polymetallic mineralization, combined with repeated success in our step out drilling, is helping us systematically refine where we focus the drill bit.

"Just as importantly, this is only one piece of a much larger exploration strategy. Multiple assays remain pending from the current drill program, additional property scale targets continue to emerge through our IP surveys, and we are actively advancing initiatives designed to aggressively accelerate exploration across Silver Hill. As our confidence in the geological model continues to grow, we're evaluating opportunities to increase drilling capacity so we can continue expanding known mineralization while testing new targets across the broader district. We believe we're still in the early stages of understanding what Silver Hill may ultimately become."

What's Next

Multiple Assays Pending: Results remain outstanding from several completed drill holes, providing a continued pipeline of near term exploration catalysts as the current campaign advances.Accelerating Exploration: Building on continued drilling success and encouraging property scale geophysical results, the Company is advancing initiatives to increase drilling capacity and accelerate exploration across Silver Hill.Expanding the District-Scale Opportunity: Ongoing geological interpretation, combined with recently completed IP surveys, continues to identify additional priority targets both within and beyond the historically mined area, supporting management's broader district scale exploration strategy.Refining the Geological Model: As drilling, geophysics and structural interpretation continue to converge, Metalsource expects to further refine targeting of the highest grade portions of the system while systematically expanding the known mineralized footprint.Evaluating Strategic Land Expansion: Metalsource is assessing opportunities to expand its land position in prospective areas identified through geological and geophysical analysis, strengthening its ability to explore district-scale potential.Why This Matters to Investors

Hole SH26-19 represents more than another high grade intercept. It demonstrates that Metalsource continues to successfully extend mineralization while improving its understanding of the geometry and continuity of the emerging high grade core at Silver Hill.

Every successful step out reduces geological uncertainty and improves management's ability to target future drilling. Rather than simply confirming historic mineralization, the Company is now systematically expanding the known footprint of the system while refining the structural controls that appear to influence higher grade mineralization.

Importantly, this result represents only one component of a much broader exploration program. Multiple drill holes remain pending from the current campaign, additional exploration targets continue to be generated through property scale IP surveys, and management is advancing plans to accelerate exploration across the district. Together, these initiatives are designed to expand the known mineralized footprint, evaluate new discovery opportunities and advance Silver Hill toward an inaugural modern resource estimate.

Drill Hole IDEasting (m)Northing (m)Elev. (m)AzimuthDipLength (m)StatusSH25-015724083951597224107-63109CompleteSH25-02572408395159722496-85101CompleteSH25-03572410395175123696-46305CompleteSH25-045724103951751236352-89100CompleteSH26-055722803951624262125-73199CompleteSH26-065722803951624262129-51154Assay PendingSH26-07572280395162426274-89200CompleteSH26-085722803951624262297-77231CompleteSH26-09572237395159026289-7015Abandoned SH26-10572237395159026291-76188CompleteSH26-11572237395159026226-83197CompleteSH26-125722373951590262293-84255Assay PendingSH26-135722373951590262145-82215Assay PendingSH26-145722373951590262125-67185Assay PendingSH26-155721683951658261107-79267CompleteSH26-16572168395165826185-76267CompleteSH26-17572168395165826194-61245CompleteSH26-185721683951658261120-70297CompleteSH26-195721683951658261131-76258CompleteSH26-205721683951658261133-80276Assay PendingSH26-215721683951658261168-86288Assay PendingSH26-225721683951658261111-86285Assay PendingSH26-23572168395165826171-87288Assay PendingSH26-24572168395165826155-84288Assay PendingTable 2: Drill collar locations and layout azimuth/dip for exploration drilling thus far at the Silver Hill Project. Collar survey in progress and will likely change reported collar elevations. Collar coordinates in WGS84 / UTMZ17N.

Metalsource QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks, and duplicates within the sample stream. The drill core is cut in half with a diamond saw, with one half placed in sealed bags and shipped to the laboratory and the other half retained on site. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility.

Analytical testing is performed by ALS Geochemistry (Reno, NV) and ALS Canada (Vancouver, BC). The entire sample is crushed to 70% passing 2mm mesh, with a 250 gram split pulverized to 85% passing minus 75 micron. A four-acid digest is performed on 0.25g of sample to quantitatively dissolve most geological materials. Analysis is performed with a combination of ICP-AES and ICP-MS and fire assay.

The exploration results described herein are preliminary in nature and are insufficient to define a mineral resource. Further drilling is required to determine the continuity, geometry, and grade distribution of mineralization. At the time of this release analytical results remain pending.

*Metal values used in AgEq calculations are from the 200-day moving average values from 2/6/2026, and all values are in USD. PAu= $124.5/g, PAg= $1.58/g, PCu= $4.9/lbs, PPb=$0.90/lbs, PZn=$1.11/lbs, 0.00220462262 = grams-to-pounds conversion factor, 22.0462262 = pounds per tonne for 1% metal. Metal recoveries used in the AgEq calculation are Au: 95.5%, Ag: 92.9%, Pb: 89.2%, Zn: 93.8% and Cu 90.8%. These recovery values are derived from batch metallurgical testing used to estimate recoveries of Silver Hill ores, completed in 1988. Individual metal values in the results table are composited values and not factored by recovery. Metal recoveries are applied to their respective component of the AgEq calculation only.

Qualified Person

All scientific and technical information has been reviewed and approved by Darcy Vis, B.Sc., P.Geo., President of Tripoint Geological Services Ltd., a contractor of the Company, and a Qualified Person as defined under National Instrument ("NI") 43-101 – Standards of Disclosure for Mineral Projects.

Silver Hill Project

Located in the Carolina Terrane, the property is underlain by volcaniclastic and volcano-sedimentary rocks predominantly of Neoproterozoic and Cambrian age. Current interpretations suggest this terrane is an extension of the Avalon Terrane. The property is 1,225 acres located in Davidson County, North Carolina. As the first significant discovery and first silver-producing mine in America, the property is supported by an extensive historic dataset, including drillhole data, underground mapping, historic dumps and underground chip samples. Currently known mineralization extends to 550m from surface, in a steeply trending series of lenses, which remain open in multiple directions.

Byrd-Pilot Mountain Project

The Byrd-Pilot Mountain Project is located in central North Carolina within the Carolina Terrane. Initial USGS surveys in the 1980s identified the area as a potential host for a porphyry gold-copper system. Subsequent exploration demonstrated broad gold mineralization in soils, trenches, and shallow RC drilling, coincident with strong self-potential anomalies. Geology shows intense quartz-sericite-pyrite alteration, high-sulfidation signatures, and high-alumina minerals (like Haile and Brewer deposits to the south), suggesting potential for a large epithermal or porphyry-related gold system. Geologic modelling of currently identified mineralization indicates an east-west trend open in multiple directions, with oxidation noted down to a depth of 30m. No drilling has tested the Meridian discovery zone since those 1980s campaigns, leaving potential for significant resource expansion through work commitments of the agreement.

About Metalsource Mining Inc.

Metalsource Mining Inc. is a U.S.-focused precious and critical metals exploration company advancing the Silver Hill Project in North Carolina, widely recognized as America's first silver mine. A historically producing mining district dating back to 1839, Silver Hill produced silver, gold, lead and zinc during the formative years of the American mining industry and remains one of the most historically significant mining assets in the United States.

The Company is focused on expanding known mineralization, advancing toward a modern resource estimate, and unlocking the broader potential of the Silver Hill district through systematic drilling, geological modeling and modern exploration techniques.

Metalsource Mining
America's First Silver Mine. Modern Exploration. Historic Opportunity.

For further information, please contact:
Joe Cullen CEO – Metalsource Mining Inc.
Tel: (778) 919-8615
Email: [email protected]

Cautionary Note About Forward-Looking Statements
This news release may include forward-looking statements that are subject to risks and uncertainties. By its nature, this information is subject to ‎‎inherent risks and ‎‎uncertainties that may be general or specific and which give rise to the possibility that ‎‎expectations, ‎‎forecasts, predictions, projections, or conclusions will not prove to be accurate, that ‎‎assumptions may not ‎‎be correct, and that objectives, strategic goals and priorities will not be achieved. ‎‎These risks and ‎‎uncertainties include but are not limited those identified and reported in the Company's ‎‎public filings ‎‎under the Company's SEDAR+ profile at www.sedarplus.ca. Although the Company has ‎‎attempted to identify ‎‎important factors that could cause actual actions, events, or results to differ ‎‎materially from those ‎‎described in forward-looking information, there may be other factors that cause ‎‎actions, events or ‎‎results not to be as anticipated, estimated or intended. There can be no assurance that ‎‎such information ‎‎will prove to be accurate as actual results and future events could differ materially from ‎‎those ‎‎anticipated in such statements. The Company disclaims any intention or obligation to update or ‎‎revise any ‎‎forward-looking information, whether as a result of new information, future events or ‎‎otherwise unless ‎‎required by law.‎

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/303407

Source: Metalsource Mining Inc.

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MSC Industrial Direct Co., Inc. (NYSE:MSM) will release earnings for its third quarter before the opening bell on Wednesday, July 1.

Analysts expect the Melville, New York-based company to report quarterly earnings of $1.26 per share, up from $1.08 per share in the year-ago period. The consensus estimate for MSC Industrial Direct’s quarterly revenue is $1.03 billion. It reported $971.14 million last year, according to Benzinga Pro.

On Tuesday, MSC Industrial declared a cash dividend of 87 cents per share.

Shares of MSC Industrial Direct rose 0.3% to close at $116.55 on Wednesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

Considering buying MSM stock? Here’s what analysts think:

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MSC Industrial (MSM - Free Report) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended May 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.

The earnings report, which is expected to be released on July 1, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.

Zacks Consensus EstimateThis distributor of industrial tools and supplies is expected to post quarterly earnings of $1.27 per share in its upcoming report, which represents a year-over-year change of +17.6%.

Revenues are expected to be $1.03 billion, up 5.8% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.33% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for MSC Industrial?For MSC Industrial, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +1.81%.

On the other hand, the stock currently carries a Zacks Rank of #2.

So, this combination indicates that MSC Industrial will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that MSC Industrial would post earnings of $0.84 per share when it actually produced earnings of $0.82, delivering a surprise of -2.38%.

Over the last four quarters, the company has beaten consensus EPS estimates three times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

MSC Industrial appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. MSC Industrial (MSM - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.

MSC Industrial is one of 181 companies in the Industrial Products group. The Industrial Products group currently sits at #7 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. MSC Industrial is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for MSM's full-year earnings has moved 1.7% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the most recent data, MSM has returned 37% so far this year. In comparison, Industrial Products companies have returned an average of 19.2%. As we can see, MSC Industrial is performing better than its sector in the calendar year.

Another Industrial Products stock, which has outperformed the sector so far this year, is Proto Labs (PRLB - Free Report) . The stock has returned 57.3% year-to-date.

Over the past three months, Proto Labs' consensus EPS estimate for the current year has increased 12.3%. The stock currently has a Zacks Rank #1 (Strong Buy).

Breaking things down more, MSC Industrial is a member of the Industrial Services industry, which includes 16 individual companies and currently sits at #195 in the Zacks Industry Rank. Stocks in this group have gained about 8.1% so far this year, so MSM is performing better this group in terms of year-to-date returns.

On the other hand, Proto Labs belongs to the Rubber - Plastics industry. This 3-stock industry is currently ranked #110. The industry has moved +52.6% year to date.

Going forward, investors interested in Industrial Products stocks should continue to pay close attention to MSC Industrial and Proto Labs as they could maintain their solid performance.

MSC Industrial Direct Co., Inc. (NYSE:MSM) will release earnings for its second quarter before the opening bell on Wednesday, April 1.

Analysts expect the Melville, New York-based company to report quarterly earnings of 84 cents per share, up from 72 cents per share in the year-ago period. The consensus estimate for MSC Industrial Direct's quarterly revenue is $931.83 million (it reported $891.72 million last year), according to Benzinga Pro.

On March 19, MSC Industrial Supply declared a cash dividend of 87 cents per share.

MSC Industrial Direct shares gained 2.6% to close at $92.27 on Tuesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

Considering buying MSM stock? Here’s what analysts think:

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MSC Industrial (MSM - Free Report) came out with quarterly earnings of $0.82 per share, missing the Zacks Consensus Estimate of $0.84 per share. This compares to earnings of $0.72 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -1.95%. A quarter ago, it was expected that this distributor of industrial tools and supplies would post earnings of $0.95 per share when it actually produced earnings of $0.99, delivering a surprise of +4.21%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

MSC Industrial, which belongs to the Zacks Industrial Services industry, posted revenues of $917.77 million for the quarter ended February 2026, missing the Zacks Consensus Estimate by 1.77%. This compares to year-ago revenues of $891.72 million. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

MSC Industrial shares have added about 9.7% since the beginning of the year versus the S&P 500's decline of 4.6%.

What's Next for MSC Industrial?While MSC Industrial has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for MSC Industrial was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.21 on $1.02 billion in revenues for the coming quarter and $4.28 on $3.95 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Industrial Services is currently in the bottom 5% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Sonoco (SON - Free Report) , another stock in the broader Zacks Industrial Products sector, has yet to report results for the quarter ended March 2026. The results are expected to be released on April 21.

This packaging maker is expected to post quarterly earnings of $1.19 per share in its upcoming report, which represents a year-over-year change of -13.8%. The consensus EPS estimate for the quarter has been revised 1.4% lower over the last 30 days to the current level.

Sonoco's revenues are expected to be $1.68 billion, down 1.9% from the year-ago quarter.

Vancouver, British Columbia--(Newsfile Corp. - April 1, 2026) - METALSOURCE MINING INC. (CSE: MSM) (OTCQB: MSMMF) (FSE: E9Z) (the "Company" or "Metalsource") has engaged the services of Dig Media Inc. 'dba' Investing News Network ("INN") pursuant to an agreement dated and starting on April 1, 2026 (the "Agreement") and, for the 12-month term of the agreement, INN will provide advertising to increase awareness of the Company.

Under the terms of the Agreement, INN will receive a one-time payment of CAD $51,000, payable in advance. The Agreement is for an initial term of one year. There is no performance factors contained in the Agreement and INN will not receive shares or options as compensation. INN's address is 1200 - 736 Granville Street, Vancouver, BC, V6Z 1G3 (phone: 604-688-8231, email: [email protected]). INN and the Company are unrelated and unaffiliated entities.

INN is an arm's length private company headquartered in Vancouver, Canada, dedicated to providing independent news and education to investors since 2007 at www.investingnews.com.

About Metalsource Mining Inc.

Metalsource Mining Inc. is a Canadian mineral exploration company focused on advancing high-potential mineral assets through modern, systematic exploration and value-driven discovery.

For more information, please refer to SEDAR+ (www.sedarplus.ca), under the Company's profile.

ON BEHALF OF THE BOARD OF DIRECTORS

Joseph Cullen, Chief Executive Officer and Director

Cautionary Note About Forward-Looking Statements
This news release may include forward-looking statements that are subject to risks and uncertainties. By its nature, this information is subject to ‎‎inherent risks and ‎‎uncertainties that may be general or specific and which give rise to the possibility that ‎‎expectations, ‎‎forecasts, predictions, projections, or conclusions will not prove to be accurate, that ‎‎assumptions may not ‎‎be correct, and that objectives, strategic goals and priorities will not be achieved. ‎‎These risks and ‎‎uncertainties include but are not limited those identified and reported in the Company's ‎‎public filings ‎‎under the Company's SEDAR+ profile at www.sedarplus.ca. Although the Company has ‎‎attempted to identify ‎‎important factors that could cause actual actions, events, or results to differ ‎‎materially from those ‎‎described in forward-looking information, there may be other factors that cause ‎‎actions, events or ‎‎results not to be as anticipated, estimated or intended. There can be no assurance that ‎‎such information ‎‎will prove to be accurate as actual results and future events could differ materially from ‎‎those ‎‎anticipated in such statements. The Company disclaims any intention or obligation to update or ‎‎revise any ‎‎forward-looking information, whether as a result of new information, future events or ‎‎otherwise unless ‎‎required by law.‎

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/290948

Source: Metalsource Mining Inc.

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MSC Industrial Direct reported Q2 FY26 results below analyst expectations, yet continues to show solid year-over-year growth in revenue and profits. MSM's valuation is fair but not cheap, warranting a "Hold" rating as shares trade near the lower end of fair value on an absolute basis. Despite volume declines, price increases and operational improvements have driven financial gains, with management projecting modest growth in Q3 amid supply and geopolitical risks.

Key Takeaways MSM reported Q2 EPS of 82 cents, missing estimates, but earnings rose 13.9% y/y.MSC Industrial revenues rose 2.9% y/y to $918M but missed estimates; margins improved slightly.MSM expects Q3 daily sales to grow 5-7% and adjusted operating margin between 9.7% and 10.3%. MSC Industrial Direct Company, Inc. (MSM - Free Report) reported second-quarter fiscal 2026 (ended on Feb. 28, 2026) adjusted earnings per share (EPS) of 82 cents, missing the Zacks Consensus Estimate of 84 cents. The bottom line increased 13.9% year over year.

Including one-time items, the company reported an EPS of 76 cents compared with the year-ago quarter’s earnings of 70 cents.

MSC Industrial generated revenues of around $918 million in the quarter under review, up 2.9% from $935 million in the year-ago quarter. The top line missed the Zacks Consensus Estimate of $934 million.

MSC Industrial’s Q2 Margins Rise Y/YThe cost of goods sold increased 2.6% year over year to $540 million. Gross profit moved up 3.4% to $378 million. The gross margin was 41.1% compared with the year-ago quarter’s 41%.

Operating expenses rose 2.9% year over year to $310 million in the fiscal second quarter. Adjusted operating income amounted to $69 million, up 8.5% from the prior-year quarter. The adjusted operating margin was 7.15% in the reported quarter compared with the prior-year quarter’s 7.1%.

MSM’s Cash & Debt PositionMSC Industrial had cash and cash equivalents of $46.2 million at the end of the fiscal second quarter of 2026 compared with $56 million at the end of fiscal 2025. It generated a cash flow from operating activities of $124 million in the first half of fiscal 2026 compared with $156 million in the first half of fiscal 2025.

The company’s long-term debt was $194.5 million at the end of the reported quarter, up from $169 million at the fiscal 2025 end.

MSC Industrial’s Q3 GuidanceMSM expects third-quarter fiscal 2025 average daily sales to grow 5-7% from the year-ago quarter's actual. The adjusted operating margin is expected between 9.7% and 10.3% for the quarter.

MSM Stock’s Price PerformanceThe company’s shares have gained 26.9% in the past year compared with the industry’s growth of 2.1%.

Image Source: Zacks Investment Research

MSC Industrial’s Zacks RankIndustrial Services Stocks Awaiting ResultsW.W. Grainger, Inc. (GWW - Free Report) is expected to release first-quarter 2025 results on May 7.

The Zacks Consensus Estimate for Grainger’s earnings per share is pegged at $10.17 for the fiscal first quarter, implying growth of 3.1% from the year-ago reported figure. The consensus estimate for Grainger’s total revenues is pinned at $4.5 billion, indicating a year-over-year increase of 6.1%

Hudson Technologies, Inc. (HDSN - Free Report) is anticipated to release first-quarter 2025 results soon.

The Zacks Consensus Estimate for Hudson’s earnings per share is pegged at 5 cents for the first quarter, implying a decline of 16.7% from the year-ago reported figure. The consensus estimate for Hudson Industrial’s total revenues is pinned at $57 million, indicating a year-over-year increase of 3.1%.

SiteOne Landscape Supply, Inc. (SITE - Free Report) is expected to release first-quarter 2025 results soon.

The Zacks Consensus Estimate for SiteOne Landscape Supply’s loss per share is pegged at 52 cents for the fiscal first quarter. The company reported a loss of 61 cents in the year-ago quarter. The consensus estimate for SiteOne Landscape Supply’s total revenues is pinned at $981 million, indicating a year-over-year increase of 4.3%

Vancouver, British Columbia--(Newsfile Corp. - April 13, 2026) - Metalsource Mining Inc. (CSE: MSM) (OTCQB: MSMMF) (FSE: E9Z) (the "Company" or "Metalsource") is pleased to announce recently received assay results from ongoing exploration drilling at the Silver Hill Project, located approximately 15km south of Lexington, NC.

SH26-07 intercepted 12.62m of 48.04 g/t AuEq, including 6.95m of 85.4 g/t AuEq and 2.74m of 210.72 g/t AuEq. These assay results highlight the high-grade potential of the system, demonstrating significant upside in gold value. Additionally, they represent a dip length extension of 195 meters below surface. Ongoing exploration results show visual confirmation of massive to semi massive sulfide mineralization both down dip and along strike.

Drill Hole IDFrom (m)To (m)Length (m)Au (g/t)Ag (g/t)Pb (%)Zn (%)Cu (%)*AgEq (g/t)*AuEq (g/t)SH26-07129.91142.5212.6246.5442.321.393.260.123,78648.04Including135.58142.526.9584.0354.751.131.820.166,73085.40And139.78142.522.74209.1493.630.341.190.1216,604210.72SH26-05116.10117.010.912.16241.0016.5534.620.221,17014.85 
Table 1: Composite assay results from SH25-05 and SH25-07. Widths reported are core length, as additional data is needed to estimate the true width of intercepts at this stage of the project. *Details on AuEq and AgEq below.

Mineralization consists of widespread massive to semi massive sphalerite-galena-pyrite-chalcopyrite +/- electrum (gold-silver alloy). Multiple mineralization styles and deposit models are being evaluated as exploration efforts continue. Along strike reconnaissance indicates the extension of Silver Hill host rocks continues at least 1.5km to the north, representing significant exploration upside elsewhere on the property package. Additionally, a property-wide ground Induced polarization (IP) and Magnetotellurics (MT) geophysical survey is in its final stages, with forthcoming results informing near-term exploration targeting.

Figure 1: Panoramic photograph showing the nature of mineralization at Silver Hill. Note widespread presence of massive to semi-massive sulfides within a 12.62m interval. Run blocks are in feet.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12035/292330_e8d61554a4944853_004full.jpg

Figure 2: Close up of mineralization intercepted in SH26-07 at 141.2m.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12035/292330_e8d61554a4944853_005full.jpg

Figure 3: Close up of mineralization intercepted in SH26-07 at 141.9m.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12035/292330_e8d61554a4944853_006full.jpg

Figure 4: Close up of mineralization intercepted in SH26-07 at 142.3m.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12035/292330_e8d61554a4944853_007full.jpg

Figure 5: Long section looking east-northeast (113°) showing intercept locations colored by AgEq grade. Note black intersections indicate assays pending with approximate locations.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12035/292330_e8d61554a4944853_008full.jpg

Figure 6: Cross section looking north showing current drill results. Blank hole traces indicate pending assays. Note SH26-10 - SH26-14 not shown for clarity. Section width 200m.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12035/292330_e8d61554a4944853_009full.jpg

Joe Cullen, CEO of Metalsource Mining, commented:

"SH26-07 is a transformational result for Metalsource Mining. Intersecting 209 grams of gold per tonne over nearly three metres - within an envelope of 46 grams of gold per tonne over 12.62 metres - at 195 metres below our initial discovery confirms that Silver Hill is not a near-surface anomaly. It is a high-grade system that strengthens dramatically with depth. With visual confirmation of wide massive sulphide zones in our most recent holes, an active drill program, and a property-wide geophysical survey now being integrated into our geological model, we believe the most significant discoveries at Silver Hill are still ahead of us."

Drill Hole IDEasting (m)Northing (m)Elev. (m)AzimuthDipLength (m)SH25-015724083951597224107-63109SH25-02572408395159722496-85101SH25-03572410395175123696-46305SH25-045724103951751236352-89100SH26-055722803951624262125-73199SH26-065722803951624262129-51154SH26-07572280395162426274-89200SH26-085722803951624262297-77231SH26-09572237395159026289-7015SH26-10572237395159026291-76188SH26-11572237395159026226-83197SH26-125722373951590262293-84255SH26-135722373951590262145-82215SH26-145722373951590262125-67185SH26-155721683951658261107-79267SH26-16572168395165826185-76DrillingTable 2: Drill collar locations and layout azimuth/dip for exploration drilling thus far at the Silver Hill Project. Collar survey in progress and will likely change reported collar elevations. Collar coordinates in WGS84 / UTMZ17N

Metalsource QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks and duplicates within the sample stream. The drill core is cut in half with a diamond saw, with one half placed in sealed bags and shipped to the laboratory and the other half retained on site. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility.

Analytical testing was performed by ALS Geochemistry (Reno, NV) and ALS Canada (Vancouver, BC). The entire sample is crushed to 70% passing 2mm mesh, with a 250 gram split pulverized to 85% passing minus 75 micron. A four-acid digest is performed on 0.25g of sample to quantitatively dissolve most geological materials. Analysis is performed with a combination of ICP-AES and ICP-MS and fire assay.

The Company notes that visual identification of sulfide mineralization intervals do not indicate metal grades or economic significance. Core processing is ongoing with logging, sampling, and submission for laboratory analysis.

The exploration results described herein are preliminary in nature and are insufficient to define a mineral resource. Further drilling is required to determine the continuity, geometry, and grade distribution of mineralization. At the time of this release, analytical results are still pending, the reported intervals are based on geological logging only.

Metal values used in AuEq calculations are from the 200-day moving average values from 2/6/2026, and all values are in USD. PAu= $124.5/g, PAg= $1.58/g, PCu= $4.9/lbs, PPb=$0.90/lbs, PZn=$1.11/lbs, 0.00220462262 = grams-to-pounds conversion factor, 22.0462262 = pounds per metric tonne for 1% metal.

Qualified Person

All scientific and technical information has been reviewed and approved by Alex Bugden, B.Sc., P.Geo., a Director of the Company and a "Qualified Person" as defined under NI 43-101 - Standards of Disclosure for Mineral Projects.

Silver Hill Project

Located in the Carolina Terrane, the property is underlain by volcaniclastic and volcano-sedimentary rocks predominantly of Neoproterozoic and Cambrian age. This terrane has been suggested to be an extension of the Avalon Terrane. The property is 1,225 acres located in Davidson County, North Carolina. As the first significant discovery and first silver-producing mine in America, there is an extensive drillhole database, underground mapping, historic dumps and underground chip samples which comprise the historic dataset. This mineralization is currently known to extend to 550m from surface, in a steeply trending series of lenses, which remain open in multiple directions. Bolstering these historic records, recent surface sampling contained results including SH25-003 containing 444g/t Ag, 17.7 g/t Au, 8.61% Pb and 0.507% Zn.

Byrd-Pilot Mountain Project

Located in central North Carolina, within the Carolina Terrane. Early USGS work in the 1980s flagged the area as possibly hosting a porphyry gold-copper system, subsequent work demonstrated broad gold mineralization in soils, trenches, and shallow RC drilling, coincident with strong self-potential anomalies. Geology shows intense quartz-sericite-pyrite alteration, high-sulfidation signatures, and high-alumina minerals (like Haile and Brewer deposits to the south), suggesting potential for a large epithermal or porphyry-related gold system. Geologic modelling indicates east-west trend to the identified mineralization, open in multiple directions, with oxidation noted down to a depth of 30m. No drilling has tested the Meridian discovery zone since those 1980s campaigns, leaving potential for significant resource expansion through work commitments of the agreement.

About Metalsource Mining Inc.

Metalsource Mining Inc. is a Canadian mineral exploration company focused on advancing high-potential mineral assets through modern, systematic exploration and value-driven discovery.

For further information, please contact:
Joe Cullen CEO - Metalsource Mining Inc.
Tel: (778) 919-8615
Email: [email protected]

Cautionary Note About Forward-Looking Statements

This news release may include forward-looking statements that are subject to risks and uncertainties. By its nature, this information is subject to ‎‎inherent risks and ‎‎uncertainties that may be general or specific and which give rise to the possibility that ‎‎expectations, ‎‎forecasts, predictions, projections, or conclusions will not prove to be accurate, that ‎‎assumptions may not ‎‎be correct, and that objectives, strategic goals and priorities will not be achieved. ‎‎These risks and ‎‎uncertainties include but are not limited those identified and reported in the Company's ‎‎public filings ‎‎under the Company's SEDAR profile at www.sedarplus.ca. Although the Company has ‎‎attempted to identify ‎‎important factors that could cause actual actions, events, or results to differ ‎‎materially from those ‎‎described in forward-looking information, there may be other factors that cause ‎‎actions, events or ‎‎results not to be as anticipated, estimated or intended. There can be no assurance that ‎‎such information ‎‎will prove to be accurate as actual results and future events could differ materially from ‎‎those ‎‎anticipated in such statements. The Company disclaims any intention or obligation to update or ‎‎revise any ‎‎forward-looking information, whether as a result of new information, future events or ‎‎otherwise unless ‎‎required by law.‎

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/292330

Source: Metalsource Mining Inc.

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Vancouver, British Columbia--(Newsfile Corp. - April 14, 2026) - Naughty Ventures Corp. (CSE: BAD) (FSE: 5DE0) (OTC Pink: BADVF) ("Naughty Ventures" or the "Company") is pleased to highlight the recent drill results announced by Metalsource Mining Inc. (CSE: MSM) (OTCQB: MSMMF) ("Metalsource"), in which the Company currently holds 3.4 million shares. Metalsource has reported encouraging initial drill results from its North Carolina polymetallic project, including a high-grade intercept of 48.04 grams per tonne gold equivalent over 12.62 metres. The Company views these results as a strong indication of the project's potential and believes they represent an important step forward in advancing the asset.

"We are very encouraged by these initial results from Metalsource," said Blair Naughty, CEO of Naughty Ventures. "Intercepts of this grade and scale are rare and reinforce our belief that this project has the potential to evolve into something meaningful. We look forward to remaining a significant shareholder as Metalsource continues to advance this project."

The Company also highlights anticipated drill results from Sorrento Resources Ltd. (CSE: SRS) (OTCQB: SRSLF) (FSE: Z9L), in which Naughty Ventures currently holds approximately 9 million shares, with an additional 8 million shares expected to be earned over time under existing agreements.

Sorrento recently completed drilling on projects of interest to Naughty Ventures. At the Bottom Brook rare earth elements property in Newfoundland, Sorrento drilled 10 holes for a total of 1,514m. Assay results are anticipated in the coming weeks. Following this program, Sorrento advanced drilling at its Rodgers Cove gold project, where the company has released multiple updates reporting sulfide zones with visible gold.

The Rodgers Cove project is situated along the Appleton Fault Zone in Newfoundland, in proximity to active regional exploration, which underscores the area's exploration potential.

"With multiple active programs underway across our portfolio, we believe the coming weeks and months represent a meaningful period of news flow for Naughty Ventures," added Mr. Naughty. "We look forward to continued updates from both Metalsource and Sorrento as these companies advance their respective projects."

About Naughty Ventures Corp.

Naughty Ventures Corp. is a Canadian venture investment and mineral exploration company focused on early-stage mineral projects with significant discovery potential. Naughty Ventures is focused on acquiring, developing and strategically positioning mineral assets with strong value potential as well as investing in private and public companies with significant potential, exceptional management and/or high growth potential that may be strategically positioned in the global market. The Company is committed to identifying and advancing the world's next great mineral assets.

Naughty Ventures Corp. - BAD Come to Find the World's Next Mine.

On Behalf of the Board of Directors,

"Blair Naughty"

CEO and President

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

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Readers are cautioned not to place undue reliance on forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/292364

Source: Naughty Ventures Corp.

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On April 17, 2026, MSC Industrial Direct Co Inc (MSM) shares rose 3.6% today to a price of $97.52. The stock has demonstrated strong performance, trading within

Vancouver, British Columbia--(Newsfile Corp. - May 22, 2026) - Metalsource Mining Inc. (CSE: MSM) (OTCQB: MSMMF) (FSE: E9Z) (the "Company" or "Metalsource") the Company has granted an aggregate 2,325,000 stock options, exercisable at $1.60 per share and valid for a term of two years, and an aggregate 500,000 restricted share units, valid for a term of two years, to consultants of the Company. The stock options and restricted share units are issued pursuant to the Company's share compensation plans and are subject to a statutory hold period of four months and one day from issuance.

About Metalsource Mining Inc.

Metalsource Mining Inc. is a Canadian mineral exploration company focused on advancing high-potential mineral assets through modern, systematic exploration and value-driven discovery.

For further information, please contact:
Joe Cullen CEO - Metalsource Mining Inc.
Tel: (778) 919-8615
Email: [email protected]

Cautionary Note About Forward-Looking Statements
This news release may include forward-looking statements that are subject to risks and uncertainties. By its nature, this information is subject to ‎‎inherent risks and ‎‎uncertainties that may be general or specific and which give rise to the possibility that ‎‎expectations, ‎‎forecasts, predictions, projections, or conclusions will not prove to be accurate, that ‎‎assumptions may not ‎‎be correct, and that objectives, strategic goals and priorities will not be achieved. ‎‎These risks and ‎‎uncertainties include but are not limited those identified and reported in the Company's ‎‎public filings ‎‎under the Company's SEDAR profile at www.sedarplus.ca. Although the Company has ‎‎attempted to identify ‎‎important factors that could cause actual actions, events, or results to differ ‎‎materially from those ‎‎described in forward-looking information, there may be other factors that cause ‎‎actions, events or ‎‎results not to be as anticipated, estimated or intended. There can be no assurance that ‎‎such information ‎‎will prove to be accurate as actual results and future events could differ materially from ‎‎those ‎‎anticipated in such statements. The Company disclaims any intention or obligation to update or ‎‎revise any ‎‎forward-looking information, whether as a result of new information, future events or ‎‎otherwise unless ‎‎required by law.‎

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/298664

Source: Metalsource Mining Inc.

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