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Target Corporation (TGT) has surged 73% since my last bullish call, outperforming the benchmark and providing a solid hedge. At a 16x forward P/E, TGT now trades at a 6% premium to the sector median, suggesting fair valuation. I see Target as a steady dividend payer with sector-like fundamentals, but upside appears muted after the recent rally.
As Target enters a new chapter of growth, the public design presentation celebrates the retailer's long-standing belief in the democratization of design, from fashion and beauty to home and beyond
The presentation will feature reinterpretations of the Target bag by leading and emerging creative voices like Public School New York design duo Dao-Yi Chow and Maxwell Osborne, Venus Williams and Chloë Sevigny
, /PRNewswire/ -- Target Corporation (NYSE: TGT) today announced Target by Design, a two-day presentation taking place as a New Museum Retail Experience in New York City celebrating Target's commitment to accessible design and the creative talent shaping the future of style and design. Open Sept. 10-11, the immersive experience brings Target's design approach to life through everyday objects like the Target cart or a lipstick elevated to the status of art; reinterpretations of the Target bag by leading and emerging creative voices; and past iconic collaborations with Michael Graves, Missoni, Marimekko and more.
Designed by Public School New York for Target
Designed by Daniel Arsham for Target
Designed by Chloë Sevigny for Target "Target by Design celebrates our long-standing commitment to making great design accessible, while showcasing the creative talent and ideas shaping what's next," said Michelle Mesenburg, chief brand officer, Target. "Across every aspect of our business and brand experience, our belief in the power of great design for all guides how we deliver what our guests have come to expect from Target: amazing style, thoughtful design and incredible value."
Bringing Target's design story to life
Target by Design invites visitors to take in design through a distinctly Target lens. Familiar Target objects and experiences are reimagined to spark discovery, invite participation and demonstrate how great design can be part of everyday life.
It is a pop-art playzone that unfolds across three immersive environments:
The Store: Designed for Discovery – An experiential area exploring how everyday shopping at Target becomes a journey of discovery. The Magic Mobile reimagines the Target run with everyday products that become an immersive installation. Bullseye the Oracle, a Target twist on the classic Fortune Teller game, presents visitors with their shopping fortunes. Doors of Discovery features seven doors revealing hidden worlds, reflecting Style, Beauty, Home, Food, Wellness, Kids and Culture and celebrating the unexpected moments and inspiration that define the Target shopping experience. The Bag: Designed by You – The story of design at Target doesn't end at checkout. It continues in the hands of the guests who shop there. The iconic Target bag becomes the season's "it" accessory, a symbol of how great design can inspire creativity and invite everyone to participate. Visitors can explore original artist interpretations of the iconic Target bag, then make one their own. Original one-of-a-kind reinterpretations by creative leaders and emerging talent demonstrate how a familiar object, the Target bag, can be transformed through individual expression. Featured contributors include Public School New York design duo Dao-Yi Chow and Maxwell Osborne, Max Alexander, Laila Gohar, Kahlana Barfield Brown, Daniel Arsham, Chloë Sevigny and Venus Williams, alongside emerging designers from Pensole Lewis College of Business and Design. Visitors can customize a bag using heat-pressed graphics, scarves, keychains and pins to create a piece that's uniquely their own ... while becoming part of Target's evolving design story. On Sept. 12, the celebration will extend to Target's SoHo store, where guests can participate in an interactive customization experience featuring exclusive Target bags from the design presentation and new-for-fall denim. On @Target Instagram, visitors can enter for a chance to win one of 10 reinterpreted Public School New York Target bags. The Archive – An exploration of Target's design history featuring iconic collaborations and innovations, including pieces from Michael Graves, Marimekko and Missoni, alongside the evolution of the Target shopping cart and the award-winning ClearRx prescription bottle redesign. Investing in what's next
Beyond the presentation itself, Target by Design reflects Target's continued investment in helping emerging talent access opportunities within the fashion and design industries. Through partnerships with organizations like Pensole Lewis College of Business and Design and the Youth Design Center, Target is creating pathways for students and emerging creatives to gain industry exposure and real-world experience. These efforts include professional development opportunities, case challenges and mentorship from Target leaders.
Target by Design is free and takes place September 10-11 at 235 Bowery, New York, NY, as a New Museum Retail Experience. Guests can register for timed entry at targetbydesign.rsvp/.
About Target
Target Corporation (NYSE: TGT) brings together style, design and value to offer a distinct assortment and elevated shopping experience across more than 2,000 U.S. stores and online. Powered by more than 400,000 team members, Target serves millions of families each week and invests in the communities where they live and work to support growth and opportunity for all.
Toronto, Ontario--(Newsfile Corp. - September 9, 2026) - GT Resources Inc. (TSXV: GT) (OTCQB: CGTRF) (FSE: 7N1) the ("Company" or "GT") is pleased to announce initial results from the 2026 field program on the recently optioned CD Project in Yukon's Dawson Range Gold Belt, located near Carmacks (the "Property" or "CD") (Figure 1). CD hosts a gold - copper porphyry target, with valid drill permits until 2033 and co-incident soil and geophysical anomalies.
"GT's first work program at CD consisted of geological mapping, prospecting and soil sampling. The field program confirmed historic soil and bedrock gold-copper anomalies and significantly expanded our knowledge of the geology and alteration styles present on the property. This work has re-enforced our thesis that we have an untested porphyry system, and we also have indications of skarn type mineralization.
The work program also included a focused airborne MobileMT survey ("Mobile MagnetoTellurics") results of which are expected shortly. This technology was specifically chosen for its ability to map subsurface resistivity and conductivity to help identify disseminated sulphide mineralization, alteration, and geological contacts at depth. The data being obtained complements the existing ground-based IP ('Induced Polarization") and magnetics surveys thereby allowing GT to create a detailed 3D model of the Maloney Porphyry target which will help identify high-priority drill targets," commented Neil Pettigrew, Vice President of Exploration.
The CD Project exhibits significant geological parallels to Western Copper and Gold's Casino Porphyry deposit, situated 90 kilometers to the northwest. The Casino deposit hosts a Measured and Indicated Resource Estimate of 7.6 billion pounds of copper and 14.8 million ounces of gold (Roth et al. 2022 ).
Exploration Plan and Next Steps
2026
GT's inaugural work program has aided the definition of Maloney Porphyry targets and reduced the reliance on expensive higher risk broadly spaced or conceptual drill testing, thereby supporting a more efficient allocation of exploration risk capital.
Mineralogical studies to further refine porphyry style alteration halos and age dating of prospective porphyry intrusive rocks are planned prior to drill testing.
2027
GT's plans to conduct a 2,500 to 3,000 meter diamond drill program at the beginning of the exploration season. This campaign will be designed systematically to test the gold-rich copper porphyry potential and high-grade gold-silver vein targets.
Field Program Highlights
Maloney Target:
Multi-Intrusive Porphyry System:
Geological mapping revealed a series of feldspar porphyry dykes some of which possess disseminated copper mineralization and porphyry-style stockwork veining. Traditionally these dykes have been assigned to the older Whitehorse suite but remain un-dated and may simply represent a different phase of the prospective younger Casino / Prospector suite pointing toward a multi-intrusive porphyry centre at Maloney.
Porphyry Style Alteration and Brecciation:
Strong phyllic (sericite-quartz-pyrite) alteration is associated with quartz-feldspar porphyry brecciation of wall rock quartzite.
Widespread epidote-magnetite-pyrite alteration of wall rock especially felsic tuff proximal to feldspar porphyry dykes suggests potential for copper- gold skarn style mineralization.
Coincident Soil and Geophysical Anomalies with Alteration Halos
The central magnetic high is a result of strong magnetite alteration of feldspar porphyry dykes and wall rock.
The IP chargeability anomaly correlates well with a strong gold-in-soil anomaly which in turn correlates with a zone of strong brecciation and phyllic alteration surrounding the magnetic high.
Schist Target, an untested vein hosted gold-silver system
Prospecting returned up to 5.6 g/t gold in weathered breccia vein material confirming historic results (6.29 g/t gold in grabs and trench chip samples of 1.67 g/t gold over 6.5 meters)
Of the 41 prospecting samples collected over 10% returned greater than 1.0 g/t gold
Soil sampling returned up to 0.141 ppm gold confirming historic gold-in-soil anomalies
Recent work suggests the Schist Target is a structurally controlled vein breccia zone with a strong arsenic-antimony-mercury-lead pathfinder signature suggesting an epithermal gold system likely resenting a more distal porphyry-related hydrothermal system.
Geology of the CD Project
The CD Project lies within the Yukon-Tanana terrane (Figure 1), a continental arc that developed along the ancient Pacific margin of North America from the Late Devonian to Permian and is situated between the Tintina Fault to the northeast, and the Denali Fault to the southwest. In the CD Project vicinity, specifically the Maloney Target area, the terrane is dominated by the Devonian and older rocks of the Snowcap Assemblage, which is in turn dominated by fine clastic rocks, quartzite, psammite and conglomerate, including marble horizons metamorphosed to amphibolite grade. The Snowcap Assemblage has been intruded by numerous intermediate to felsic granitoid batholiths since the early Jurassic, notably in the Casino and CD areas by the voluminous mid-Cretaceous Whitehorse Suite. The Whitehorse Suite intrusive event (~100-111 million years) was followed by a more restricted late Cretaceous Casino / Prospector Mountain Suite (~79-72 million years) felsic intrusive event which is closely associated with mineralization at the Casino, Klaza and Mount Nansen deposits. (Figure 1).
Geological mapping and exploration in general at CD has historically been complicated by limited outcrop, surficial cover, loess and deep weathering, typical of parts of the unglaciated or partially glaciated Yukon Plateau. From available outcrop, the geology, structure and intrusive relationships at the CD Project have many analogs to the Casino deposit. At Casino a late Cretaceous porphyry (Patton Porphyry) has intruded and brecciated surrounding Whitehorse rocks. This strongly phyllic and potassic altered-breccias which hosts the gold-rich copper mineralization contains abundant disseminated pyrite and chalcopyrite and forms a discrete (~1,800 x 1,000 m) pipe shaped halo surrounding the relatively massive Patton Porphyry. At CD, mapping indicates similar relationships with both Snowcap rock intruded by late Casino / Prospector suite age (~75 million years) quartz-feldspar porphyritic rocks with widespread phyllic alteration (sericite-quartz-pyrite) and local intense brecciation. Geophysical data at CD displays a similar geometry to Casino with a magnetic core interpreted to represent a series of feldspar porphyry dykes and associated magnetite-rich alteration plunging to the southeast flanked by a phyllic altered and brecciated IP chargeability rim (Figure 3).
Another style of mineralization present at CD is the vein hosted gold-silver mineralization present at the Schist Target (Figure 4). Less is known about this style of mineralization, and no drilling has been conducted. The mineralization at Schist may be related to the nearby, younger Klaza-style vein hosted gold-silver-lead-zinc deposit (Figure 1) or a more distal epithermal phase of yet to be identified porphyry system. The Schist target comprises gold, silver bearing breccia veins with arsenic-antimony-mercury-lead pathfinder signatures in hydrothermally altered Snowcap assemblage rocks. Mineralization within the breccia veins consists of fine-grained disseminated pyrite and arsenopyrite with manganese oxide, limonite and strong silica-sericite alteration. The Schist target contains a widespread (2,000 x 500 m) gold and arsenic-in-soil anomaly and numerous placer mining claims have recently been staked in the area.
Structurally, CD, Casino and Klaza are all located near the intersection of large-scale northwest and smaller scale northeast structures which may provide dilation for late Cretaceous porphyry intrusions and/or hydrothermal vein formation.
Figure 1. (A) Location map of the CD project and nearby advanced projects (blue dots) and exploration projects (orange dots) within the Dawson Range Gold Belt. (B) Regional geology surrounding the CD project, including location of nearby deposits (blue) and exploration projects (orange), notably those of similar late Cretaceous age "Casino & Prospector Mountain Suite" including Casino, Klaza and Mount Nansen.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6502/313486_e30111a8a4bb6b7c_001full.jpg
Figure 2. Re-interpreted geology and alteration halos of Maloney Porphyry target area resulting form the 2026 mapping program, including recently collected prospecting samples (diamonds) and soil samples (triangles) overlaid on historic Au-in-Soil samples (circles).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6502/313486_e30111a8a4bb6b7c_002full.jpg
Figure 3. 3D Isometric view looking northwest of CD's porphyry target showing a core defined by an inverted magnetic high (purple) flanked by an IP chargeability high rim (orange). This pattern is interpreted to be a magnetic porphyritic intrusive and alteration (epidote-pyrite-magnetic & actinote-magnetite-quartz+/-biotite) plunging to the southeast surrounded by strong phyllic (sericite-quartz-pyrite) alteration halo, brecciation and veining similar to the mineralized breccia zone which surrounds an unmineralized porphyry intrusive core at the Casino deposit.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6502/313486_e30111a8a4bb6b7c_003full.jpg
Figure 4. Shist Gold - Silver Target, with historic gold-in-soil anomalies showing revised geology and recent prospecting and soil sample which correlate well with historic results. Field observation indicates mineralization is hosted withing intensely silicified and sericitized vein breccias with a strong east-west structural control.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6502/313486_e30111a8a4bb6b7c_004full.jpg
Figure 5. Alteration styles form the Maloney Porphyry Target area. A. Maloney Main showing chalcopyrite mineralized feldspar porphyry showing strong weather rind. B. Potassic magnetite - actinolite - quartz +/- biotite stockwork and brecciation in feldspar porphyry. C. Strong Epidote +/- magnetite +/- pyrite replacing felsic tuff wall rock. D. Intense phyllic (sericite - quartz +/- pyrite) altered quartz-feldspar porphyry brecciating quartzite and schist wall rock. E. Phyllic Stockwork (bleaching) alteration of mafic gneiss. F. Multiphase quartz stockwork veining in altered felsic tuff wall rock adjacent to the feldspar porphyry contact.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6502/313486_e30111a8a4bb6b7c_005full.jpg
Table 1. Select 2026 prospecting and soil samples form the Maloney and Schist Target areas.
Sample
No.UTM EastingUTM NorthingTargetRock Type / Soil Au
ppmAg
ppmCu
ppmMo
ppmAs
ppmHg
ppmSb
ppmPb
ppmZn
ppmK1355043597756884343SchistBreccia5.64013.79420500.6849125746K1355053597726884342SchistQuartzite4.8602.915128200.6444234K1355063597766884334SchistBreccia1.95067130201.355622775K1355133600396884433SchistQuartzite1.2152.510141400.0962934K1355153600406884435SchistSchist1.8701.310165700.0895876K1355223601236884428SchistQuartz vein0.3831.19136500.05196604K1355413582536882992SchistGranodiorite0.01924.938202940.0331635285K1355463588046882916SchistQuartz vein0.1983.8819130.0278401818K1355473588036882919SchistFelsic Dyke0.124<0.565225000.0411771782K1355483484326878165MaloneyFeldspar Porphyry0.030<0.5161068<0.005<5617K1355493484346878167MaloneyFeldspar Porphyry0.055<0.5531210<0.005<5613K1355623483006878381MaloneyFeldspar Porphyry0.027<0.53714<5<0.005<5626K1355723474276878824MaloneyFelsic Tuff0.13113881110.005<51631K1355733473776878785MaloneyFelsic Tuff0.0260.63803110.006<52419K1355833494466878134MaloneyQuartzite0.1040.5546<1<5<0.005<51171K1356013599096884346SchistSoil0.1410.7314.40.9528700.4627.214.225K1356023599766884348SchistSoil0.0470.09110.452170.074.525.129K1356033600256884312SchistSoil0.0420.3613.20.452120.214.213.927K1356043597266884091SchistSoil0.0050.14112.53.2456.60.263.559.9122K1356053503016878324MaloneySoil0.0200.2658.80.7611.90.020.521044K1356063502996878350MaloneySoil0.0110.1349.70.67.70.020.48.444K1356073501956878259MaloneySoil0.0720.3496.21.8812.60.030.89.246K1356083503026878250MaloneySoil0.1270.253481.6318.60.010.7913.441K1356093474726878838MaloneySoil0.0310.7534911.122.60.012.6617.828K1356103470046878818MaloneySoil0.0040.0794.81.88.30.010.3610.553* Grab samples are selective by nature and may not be representative of average grades across the property.
* Select soil samples were collected to confirm historic Au and Cu-in-soil anomalies.
QA/QC
A total of 70 prospecting and 10 soil samples were submitted for analysis. Certified Reference Material consisting of standards and blanks were inserted every 10th sample into the sample stream by Company staff. All Standards passed within 3 standard deviations of the certified value. All blanks returned below the <0.005 gold detection limit. Samples were collected and deliver the ALS Geochemistry - Whitehorse by Company Employees. Samples were analysed for gold by fire assay with an atomic absorption finish and multi element with four-acid digestion followed by Inductively Coupled Plasma Atomic Emission Spectroscopy.
References
Paulter, J., 2018. Technical Report on the CD Project in the Dawson Range Copper - Gold belt, Yukon territory for Strategic Metals Ltd.
Roth, D., Hester, M., Marek, J.M., Tahija, L.M., Schulze, C., Friedman, D., Weston, S., 2022. Casino Project Form 43-101F1 Technical Report, Feasibility Study, Yukon, Canada.
Qualified Person
The technical information in this release has been reviewed and approved by Neil Pettigrew, M.Sc., P.Geo., Vice President of Exploration and a director of the Company and the Qualified Person as defined by National Instrument 43-101.
About GT Resources
GT Resources Inc. (TSXV: GT) (OTCQB: CGTRF) (FSE: 7N1) is a mineral exploration company focused on the discovery and de-risking of district-scale assets in top tier mining jurisdictions. The Company's strategy is driven by a disciplined, science-based methodology designed to create shareholder value by advancing high-potential properties toward production within robust regulatory frameworks.
In Finland, the Company is advancing its flagship Läntinen Koillismaa ("LK") Project, which hosts significant mineral resources including palladium, platinum, gold, copper, and nickel. In Canada, GT maintains a portfolio of earlier-stage, pre-resource projects targeting critical and precious metals. The quality and scale of the Company's project portfolio has attracted strategic investment from Glencore plc, one of the world's largest diversified natural resource companies.
Follow GT Resources on LinkedIn, Twitter, and at https://gtresourcesinc.com/.
ON BEHALF OF THE BOARD
"Derrick Weyrauch"
President & CEO, Director
For further information contact:
Derrick Weyrauch, President & CEO or Neil Pettigrew, Vice President Exploration
Email: [email protected]
Neither the TSX Venture Exchange nor its Market Regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release is not an offer or a solicitation of an offer of securities for sale in the United States of America. The common shares of GT Resources Inc. have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.
Information set forth in this press release may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past events. In this context, forward-looking statements often address a company's expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in mineral and commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the absence of dividends; competition; dilution; the volatility of our common share price and volume; and the impact of governmental entities. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
Mineralization at Casino is not necessarily indicative of mineralization at the CD project.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/313486
Source: GT Resources Inc.
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Vancouver, British Columbia--(Newsfile Corp. - September 9, 2026) - NRED Intelligent Mining Inc. (CSE: NRED) (OTCQB: NREDF) ("NRED" or the "Company") is pleased to announce that an integrated review of historical drilling, re-sampled drill core, magnetic susceptibility data, and 3D induced-polarization ("IP") modelling has advanced the Eagle target as a priority deep drill target at the Wilmac Copper-Gold Project in British Columbia.
The key finding is straightforward: historical drilling stopped before reaching the strongest modelled geophysical target. The 2014 drill holes ended approximately 107 to 231 metres above their modelled chargeability peaks, which occur broadly between 300 and 450 metres depth. Importantly, the better historical holes also showed increasing copper values and alteration toward the bottom of the holes. At the Eagle target, hole WS14-004 ended at only approximately 133 metres depth, while the modelled chargeability response strengthens significantly below the hole. NRED is therefore proposing to deepen the existing Eagle hole by approximately 250 metres, subject to confirming that the hole remains open and accessible.
"Eagle gives us a clear target and a clear test," said Brian Goss, Chief Executive Officer of NRED. "The previous drilling stopped well above the strongest modelled target, while copper, alteration and geophysical evidence point deeper. Rather than speculate, our objective is simple: drill deeper and test the target."
Historical Drilling Shows Increasing Copper at Depth
Four diamond drill holes totaling approximately 728 metres were completed in 2014 across the Bolas, Trojan, Raven and Eagle targets. Re-logging and re-sampling of the historical core in 2024 identified broader copper-bearing intervals than recognized by the original selective sampling, including:
* 26.83 metres averaging 381 ppm copper in WS14-002, including 3.13 metres averaging 1,084 ppm copper
* 24.16 metres averaging 262 ppm copper in WS14-001
The better mineralized holes show copper and alteration strengthening downward. These results do not establish economic mineralization, but support testing below the depth reached by the historical drilling.
Multiple Data Sets Point to a Deeper Target
The Company's integrated review places the principal area of interest significantly below the historical drilling. The modelled IP chargeability peaks occur broadly between 300 and 450 metres depth. Independent magnetic interpretations provide a similar depth range, including airborne modelling indicating approximately 290 to 410 metres and 3D ground magnetic modelling placing a susceptible body near 400 metres.
Forward modelling indicates that a shallow source can explain part of the observed IP response. However, the deeper model provides the better explanation for the strongest anomalous readings. The deeper target remains an exploration interpretation that can only be confirmed through drilling.
Core Measurements Strengthen the Geological Model
NRED collected 679 magnetic susceptibility measurements from the historical drill core during the 2024 program. Across approximately 250 matched intervals, magnetic susceptibility decreased as sulphur increased, with median susceptibility falling by roughly three times between low-sulphur rock and intervals containing more than 0.5% sulphur. The results provide property-specific evidence that sulphidation can destroy magnetite within the Trojan-Condor system and strengthen the geological basis for using localized magnetic lows as one potential alteration indicator.
Subject to confirming access to the historical hole, NRED proposes to deepen WS14-004 by approximately 250 metres and conduct downhole IP, resistivity and magnetic susceptibility measurements together with complete multi-element and gold analysis. The program will be designed to answer a fundamental exploration question: does the shallow altered and pyritic system encountered in historical drilling strengthen into a more significant sulphide-bearing system at depth? No drill program is currently scheduled and would not occur prior to the 2027 field season at the earliest and would be subject to financing.
Option Agreement Status
The Wilmac copper-gold project comprises 16,078 hectares located southwest of Princeton and approximately 10 kilometres west of Hudbay Minerals Inc.'s producing Copper Mountain Mine. NRED hold an interest in the Project pursuant to two option agreements concerning what are known as (1) the Wilmac and Lamont claims and (2) the Trojan-Condor Corridor claims.
The Company was required to make a $125,000 cash payment by September 1, 2026 in order to keep the first option agreement in good standing, and was required to make a cash payment of $100,000 and to fund exploration expenditures of $100,000 on August 31, 2026. NRED has not made any of these payments and the option agreements are currently not in good standing. The optionors of the claims comprising the Project have not provided the Company with notice of termination, but may do so on seven day's notice.
Qualified Person
The scientific and technical information in this news release, including the geological interpretations described herein, has been reviewed and approved by Rick Walker, P.Geo., a Qualified Person as defined by National Instrument 43-101 ("NI 43-101"). Mr. Walker is not independent of the Company within the meaning of NI 43-101. The interpretations described above are conceptual and rely in part on historical, third-party data that the Company has not independently verified. No mineral resources or mineral reserves have been identified on the Project.
About NRED Intelligent Mining Inc.
NRED Intelligent Mining Inc. (CSE: NRED) (OTCQB: NREDF) is a mineral exploration company focused on the identification, acquisition, exploration and development of copper-gold porphyry projects in British Columbia, leveraging an artificial intelligence-enhanced geospatial technology platform that it developed to identify and evaluate prospective mineral properties. The Company's optioned Wilmac copper-gold project comprises 16,078 hectares located within the Quesnel porphyry belt in the Similkameen Mining Division, southwest of Princeton and approximately 10 kilometres west of Hudbay Minerals Inc.'s producing Copper Mountain Mine.
Readers are cautioned that the discussion of mineralization, alteration or grades on adjacent, similar or analogous properties, including the Copper Mountain Mine, is not necessarily indicative of the mineralization or potential of the Wilmac Copper-Gold Project. The Company has no interest in, or right to acquire any interest in, any such properties.
FORWARD-LOOKING INFORMATION
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding: the interpretation of geological, geochemical and geophysical data, which were used to identify the Eagle drill target on the Wilmac Project, including the timing and details of anticipate work, such as drilling, as well as the process and timing for obtaining results; the inference that the historical data that the Company has analyzed to date, as interpreted, suggest that the Wilmac Project may potentially host economic quantities of copper; and the Company's intention and ability to satisfy the cash payment, share issuance, and exploration expenditure milestones required to exercise the option agreements respecting the Wilmac Project.
Forward-looking information is based on a number of assumptions that, while considered reasonable by the Company at the date of this news release, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Such assumptions include, without limitation: the accuracy of current geological interpretations, including the interpretation of data described in this news release; the accuracy and completeness of the third-party historical data on which the interpretation rests; the availability of adequate funding to complete the proposed exploration and subsequent analyses; the ability of the Company's geophysical contractors and geological consultants to complete contemplated exploration on schedule; favourable weather, terrain and field conditions; access to the Project area; the availability of qualified personnel; the receipt of all necessary permits and authorizations for planned exploration; and the continued cooperation of the optionors under the terms of the relevant option agreements.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking information. Important risk factors include, but are not limited to: the possibility that the interpretations described are not ultimately accurate; additional exploration and drilling do not support the interpretation described; the continued availability of capital and financing; the ability to satisfy option earn-in requirements on the timelines contemplated; risks inherent in mineral exploration; adverse weather or terrain conditions; tenure grant, renewal and permitting outcomes, including under British Columbia's revised mineral tenure system; Indigenous and community consultation requirements; changes in applicable laws and regulations; the ability to retain key personnel and contractors; litigation; failure of counterparties to perform their contractual obligations; and general economic, market or business conditions. Readers are cautioned not to place undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, except as required by applicable securities laws.
Neither the CSE nor its Market Regulator (as that term is defined in CSE policies) accepts responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/313588
Source: NRED Intelligent Mining Inc.
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It also includes access to the Zacks Style Scores.
What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.8% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.
That's where the Style Scores come in.
You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Target (TGT - Free Report) Founded in 1902, Target Corporation offers guests fashionable, differentiated merchandise and everyday essentials at discounted prices. Its assortment spans the company’s core merchandise categories, including Apparel & Accessories, Beauty, Food & Beverage, Hardlines, Home Furnishings & Décor, and Household Essentials. Target enables guests to purchase products seamlessly in stores or through its digital channels, and it leverages stores as fulfillment hubs. In addition to merchandise sales, Target generates revenues from other sources, most notably advertising revenues and credit card profit-sharing income. Other capabilities include Roundel, Target Plus and membership fees, including paid Target Circle 360. Target’s Shipt subsidiary facilitates delivery services, including same-day delivery to guests.
TGT is a #2 (Buy) on the Zacks Rank, with a VGM Score of A.
It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 15.77; value investors should take notice.
14 analysts revised their earnings estimate upwards in the last 60 days for fiscal 2027. The Zacks Consensus Estimate has increased $2.09 to $10.43 per share. TGT boasts an average earnings surprise of +10.5%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, TGT should be on investors' short list.
Vancouver, British Columbia – TheNewswire - September 8, 2026 – Adamera Minerals Corp. (TSX-V: ADZ; OTC: DDNFF) (“Adamera” or the “Company”) announces it has filed applications for the Bromley claims, adding over 4,700 hectares contiguous to the Company’s 100%-owned South Hedley Property. This newly staked ground expands the northwestern edge of the property 12 kilometres (km) westward, connecting to the eastern claim boundary of Hudbay Minerals Inc.’s Copper Mountain mine claims.
The Bromley claim applications cover an approximately 12 x 4 km corridor concealed beneath a sequence of younger volcanic rock, where Adamera has identified distinct magnetic features. This area is positioned along an approximately 40 km east-west trend that Adamera interprets as a structural and metallogenic corridor connecting the producing Copper Mountain mine to the historic Nickel Plate mine near Hedley, British Columbia. The Company’s Max Copper-Gold Target is positioned within this corridor.
“This staking reflects our broader vision for the district. The locations of Copper Mountain, Nickel Plate, and our Max copper-gold target are not random. We believe a 40 km structure along the southern margin of the Bromley Batholith controlled the emplacement of the smaller intrusions that carry the copper and gold. Younger volcanic rocks covering this zone have largely kept it untested, and this is the type of opportunity we like to focus on,” said Mark Kolebaba, President and CEO of Adamera.
Rationale for Staking
A district-scale corridor: The Company interprets an east-west structural and metallogenic corridor, approximately 40 km in length, extending from the producing Copper Mountain mine through the Max Copper-Gold Target to the historic Nickel Plate (Hedley) mine. This corridor roughly tracks the southern margin of the Bromley Batholith and is interpreted as a deep-seated east-west cross-structure located within the Quesnel Trough. The corridor is considered a conduit for mineralizing magmas.
A long-lived magmatic conduit: The Company’s interpretation suggests this 40 km east-west structural corridor acted as a deep crustal conduit over a 15-million-year metallogenic epoch. This long-lived weakness may have facilitated the earlier emplacement of the mineralizing intrusions at Copper Mountain and Nickel Plate, and ultimately controlled the emplacement of the Bromley Batholith along the trend. Economic copper-gold mineralization in this district is driven by smaller, highly fractionated intrusions tapping this structural corridor, making the covered southern margin of the Bromley Batholith a prospective target.
Covering the missing link: The Bromley claim applications cover the interpreted southern margin of the Bromley Batholith, an area approximately 12 x 4 km in extent. While younger, post-mineralization cover conceals this zone, Adamera has identified distinct magnetic features within the corridor, providing early geophysical support for targets.
Contiguous with an active target: These new applications extend directly westward from the Company’s South Hedley Property, where an ongoing induced polarization (IP) survey has defined a chargeability anomaly ranging from 3 to 4 km in width. This land expansion covers the interpreted structural corridor extending westward from this new zone.
Next Steps
This geological model is based on interpretation and needs to be tested through exploration work. The Bromley claim applications are currently subject to approval. Upon approval, anticipated initial work on the new claims would include prospecting, sampling, and potential airborne geophysics to define drill targets.
South Hedley Project
South Hedley is a copper-gold property near Princeton, British Columbia, within the Quesnel Trough. Work to date has advanced two targets: the Max Copper-Gold Target, a covered porphyry target defined by coincident copper-gold soil geochemistry, magnetics and IP; and Glix, a gold skarn target defined by soil geochemistry, electromagnetic and magnetic survey data. The IP survey at Max copper-gold target is currently underway. Drill permit applications for both targets were submitted in February 2026 and remain pending.
Qualified Person
Martin St. Pierre, P. Geo., a qualified person as defined by National Instrument 43-101 and a consultant to the Company, has reviewed and approved the technical content of this news release. The Copper Mountain and Nickel Plate mines are located on properties adjacent to or near the South Hedley Property. Information regarding those properties is drawn from public sources and has not been independently verified by Adamera. Mineralization on those properties is not necessarily indicative of mineralization on the South Hedley Property.
About Adamera
Adamera Minerals Corp. is targeting critical metals in the U.S. and copper-gold in southern British Columbia. In Washington State, the Company is advancing a tungsten portfolio intended to support a secure domestic supply for U.S. markets. In Canada, Adamera is exploring the South Hedley Copper-Gold Project and maintains additional gold projects in its portfolio.
On behalf of the Board of Directors,
Mark Kolebaba
President & CEO
For additional information please contact:
Email: [email protected]
Website: www.Adamera.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Statements in this press release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development, including the risk that the Bromley claim applications may not be approved. As a result, actual results may vary materially from those described in the forward-looking statements.
¹ Logan, J.M., and Mihalynuk, M.G., 2014. Tectonic controls on Early Mesozoic paired alkaline porphyry deposit belts (Cu-Au) within the Canadian Cordillera. Economic Geology, v. 109, p. 827-858.
, /PRNewswire/ -- Target Hospitality Corp. ("Target Hospitality" or the "Company") (Nasdaq: TH), one of North America's largest providers of vertically integrated modular accommodations and value-added hospitality services, today announced the launch of an underwritten, secondary offering (the "Offering") of 13,000,000 shares (the "Shares") of its common stock, par value $0.0001 per share (the "Common Stock"), subject to market and other conditions. The Shares are being offered by Arrow Holdings S.à r.l. and MFA Global S.à r.l. (collectively, the "Selling Stockholders"), entities controlled by TDR Capital LLP, acting in its capacity as investment fund manager. The Company is not offering any shares in the Offering and will not receive any of the proceeds from the Offering. The Selling Stockholders have also granted the underwriters a 30-day option to purchase up to an additional 1,950,000 shares of Common Stock.
Additionally, subject to the completion of the Offering, the Company intends to purchase from the underwriters shares of its Common Stock (the "Repurchase Shares") that are subject to the Offering with an aggregate purchase price of up to $30,000,000, at a price per share equal to the price per share to be paid by the underwriters to the Selling Stockholders in the Offering (the "Stock Repurchase"). The completion of the Stock Repurchase is expected to occur concurrently with the closing of the Offering. The Repurchase Shares will be held by the Company as treasury shares following the completion of the Stock Repurchase. The Company expects to fund the Stock Repurchase with cash on hand together with borrowings under its ABL Credit Facility.
Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC are acting as book-running managers for the Offering.
The Offering is being made pursuant to an effective shelf registration statement on Form S-3, including a base prospectus, that was initially filed with the Securities and Exchange Commission (the "SEC") on April 10, 2019 and subsequently declared effective by the SEC on May 16, 2019 and is available on the SEC's website at www.sec.gov. The Offering may only be made by means of a prospectus supplement and the accompanying prospectus that will form a part of the registration statement. A preliminary prospectus supplement and the accompanying prospectus relating to the Offering will be filed with the SEC and will be available on the SEC's website. Copies of the preliminary prospectus supplement and the accompanying prospectus, when available, may be obtained from: Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; Deutsche Bank Securities Inc., Attn: Prospectus Department, 1 Columbus Circle, New York, NY 10019, by telephone at (800) 503-4611, or by email at [email protected]; and J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by email at [email protected] and [email protected].
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company, nor shall there be any sale of securities of the Company in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Certain statements made in this press release are "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside our control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: operational, economic, including inflation, political and regulatory risks; our ability to effectively compete in the specialty rental accommodations and hospitality services industry, including growing the HFS - South, Workforce Hospitality Solutions and Government segments; our ability to execute, expand, and manage WHS projects supporting critical mineral development, power generation, and data center infrastructure projects, including risks related to construction execution, permitting, labor availability, and timely completion of community buildouts; our ability to achieve margin improvement through the effective servicing of contracts in our WHS segment; effective management, utilization, and performance, of our communities (including workforce hubs); natural disasters and other business disruptions including outbreaks of epidemic or pandemic disease; the duration of any future public health crisis, related economic repercussions and the resulting negative impact to global economic demand; the effect of changes in state building codes on marketing our buildings; changes in demand within a number of key industry end-markets and geographic regions, including natural resources, critical minerals, and data center/AI infrastructure; changes in customer capital spending, project schedules, or end-user demand that may result in delays, non-renewals, or cancellations of contracts, including the contract that is terminable for convenience in the Government segment; our reliance on third party manufacturers, suppliers and service providers; our ability to attract and retain key personnel and maintain workforce availability for specialized hospitality and construction operations; increases in raw material, food, labor or other operating costs; the effect of impairment charges on our operating results; our future operating results fluctuating, failing to match performance or to meet expectations; our exposure to various possible claims and the potential inadequacy of our insurance coverage; unanticipated changes in our tax obligations; our obligations under various laws and regulations, including those applicable to government contracts; the effect of litigation, judgments, orders, regulatory or customer bankruptcy proceedings on our business; our ability to successfully acquire and integrate new operations; global, national or local economic and political developments, including any changes in policy under the current or any future U.S. presidential administrations; federal government budgeting and appropriations; our ability to effectively manage our credit risk and collect on our accounts receivable; our ability to fulfill Target Hospitality's public company obligations; cybersecurity threats, incidents, or failures of our management information systems; and risks related to our liquidity, access to capital markets, and obligations under existing or future debt agreements, including compliance with financial covenants. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Contact Information
Investor Contact:
Mark Schuck
(832) 702 – 8009
[email protected]
, /PRNewswire/ -- Target Hospitality Corp. ("Target Hospitality" or the "Company") (Nasdaq: TH), one of North America's largest providers of vertically integrated modular accommodations and value-added hospitality services, today announced the pricing of an upsized underwritten, secondary offering (the "Offering") of 14,000,000 shares (the "Shares") of its common stock, par value $0.0001 per share (the "Common Stock"), held by Arrow Holdings S.à r.l. and MFA Global S.à r.l. (collectively, the "Selling Stockholders"), entities controlled by TDR Capital LLP, acting in its capacity as investment fund manager, at a price to the public of $18.50 per share, for total gross proceeds to the Selling Stockholders of approximately $259,000,000, before deducting underwriting discounts and commissions. The Company has not offered any shares in the Offering and will not receive any of the proceeds from the Offering. The closing of the Offering is expected to occur on September 10, 2026, subject to customary closing conditions. The Selling Stockholders have also granted the underwriters a 30-day option to purchase up to an additional 2,100,000 shares of Common Stock.
Additionally, subject to the completion of the Offering, the Company has agreed to purchase from the underwriters shares of its Common Stock (the "Repurchase Shares") that are subject to the Offering with an aggregate purchase price of approximately $30,000,000, at a price per share equal to the price per share to be paid by the underwriters to the Selling Stockholders in the Offering (the "Stock Repurchase"). The completion of the Stock Repurchase is expected to occur concurrently with the closing of the Offering. The Repurchase Shares will be held by the Company as treasury shares following the completion of the Stock Repurchase. The Company expects to fund the Stock Repurchase with cash on hand together with borrowings under its ABL Credit Facility.
Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC are acting as book-running managers for the Offering. Northland Securities, Inc., Oppenheimer & Co. Inc and Texas Capital Securities are acting as co-managers for the Offering.
The Offering is being made pursuant to an effective shelf registration statement on Form S-3, including a base prospectus, that was initially filed with the Securities and Exchange Commission (the "SEC") on April 10, 2019 and subsequently declared effective by the SEC on May 16, 2019 and is available on the SEC's website at www.sec.gov. The Offering may only be made by means of a prospectus supplement and the accompanying prospectus that will form a part of the registration statement. A preliminary prospectus supplement and the accompanying prospectus relating to the Offering will be filed with the SEC and will be available on the SEC's website. Copies of the final prospectus supplement and the accompanying prospectus, when available, may be obtained from: Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, and Deutsche Bank Securities Inc., Attn: Prospectus Department, 1 Columbus Circle, New York, NY 10019, by telephone at (800) 503-4611, or by email at [email protected], and J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by email at [email protected] and [email protected].
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company, nor shall there be any sale of securities of the Company in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Certain statements made in this press release are "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside our control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: operational, economic, including inflation, political and regulatory risks; our ability to effectively compete in the specialty rental accommodations and hospitality services industry, including growing the HFS - South, Workforce Hospitality Solutions and Government segments; our ability to execute, expand, and manage WHS projects supporting critical mineral development, power generation, and data center infrastructure projects, including risks related to construction execution, permitting, labor availability, and timely completion of community buildouts; our ability to achieve margin improvement through the effective servicing of contracts in our WHS segment; effective management, utilization, and performance, of our communities (including workforce hubs); natural disasters and other business disruptions including outbreaks of epidemic or pandemic disease; the duration of any future public health crisis, related economic repercussions and the resulting negative impact to global economic demand; the effect of changes in state building codes on marketing our buildings; changes in demand within a number of key industry end-markets and geographic regions, including natural resources, critical minerals, and data center/AI infrastructure; changes in customer capital spending, project schedules, or end-user demand that may result in delays, non-renewals, or cancellations of contracts, including the contract that is terminable for convenience in the Government segment; our reliance on third party manufacturers, suppliers and service providers; our ability to attract and retain key personnel and maintain workforce availability for specialized hospitality and construction operations; increases in raw material, food, labor or other operating costs; the effect of impairment charges on our operating results; our future operating results fluctuating, failing to match performance or to meet expectations; our exposure to various possible claims and the potential inadequacy of our insurance coverage; unanticipated changes in our tax obligations; our obligations under various laws and regulations, including those applicable to government contracts; the effect of litigation, judgments, orders, regulatory or customer bankruptcy proceedings on our business; our ability to successfully acquire and integrate new operations; global, national or local economic and political developments, including any changes in policy under the current or any future U.S. presidential administrations; federal government budgeting and appropriations; our ability to effectively manage our credit risk and collect on our accounts receivable; our ability to fulfill Target Hospitality's public company obligations; cybersecurity threats, incidents, or failures of our management information systems; and risks related to our liquidity, access to capital markets, and obligations under existing or future debt agreements, including compliance with financial covenants. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Contact Information
Investor Contact:
Mark Schuck
(832) 702 – 8009
[email protected]
After a few years of watching Walmart (WMT -1.18%) crush Target (TGT +0.26%), the pauper has become the prince in 2026. Shares of Target are bullseye-red hot, soaring 68% this year. In the other corner, Walmart is a laggard with a 4% year-to-date decline.
The two retail chains have withstood the test of time. They have raised their quarterly dividends for more than five decades. However, which one is the better buy in September? A case can be made for buying both, but the name I'm going with might surprise you.
Image source: Getty Images.
Right on Target When you see a stock outperforming against a rival over the past eight months, you might conclude that Target is growing faster than Walmart. You might also assume that it's trading at a higher earnings multiple or packs a lower yield, given the wide performance gap. You would be wrong on all three counts.
Target's trailing revenue has risen a mere 2% over the past 12 months. Walmart's trailing top-line growth at 6.2% is more than three times faster. Target stock is simply bouncing back from a dark space. It will end a run of three consecutive years of declining revenue this fiscal year.
Turning to valuation, Target has a much lower P/E ratio despite the stock's heady ascent. You can buy the "cheap chic" retailer for a reasonable 17 times trailing earnings, less than half of Walmart's multiple of 39.
Both stocks are Dividend Kings, with at least 50 years of annual payout increases. However, Target's current yield of 2.8% is three times Walmart's 0.9%. You're buying into these stocks hoping you're more in capital appreciation than in income, but knowing that there's a good chance the quarterly distributions will keep rising is a plus for both stocks.
Premium Feature
Moneyball Superscore
67/100
Today's Change
(
0.26
%) $
0.43
Current Price
$
164.44
Climbing the wall of Walmart In defense of the country's leading brick-and-mortar retailer, Walmart isn't the laggard if you zoom out a bit more. Walmart's stock has more than doubled over the last five years. Target shares have fallen by a third in that time. Yes, the earnings multiple is higher, and the dividend is lower, but that is because Walmart has historically commanded a healthy premium to the market.
Walmart's all-weather appeal is its perfect cost controls and high-speed inventory turns, which enable it to sell at lower price points than its competitors. Target is coming off three straight fiscal years of slightly declining sales, but Walmart has only had one year of declining sales in the last 47 years.
Today's Change
(
-1.18
%) $
-1.28
Current Price
$
107.14
Picking a winner You can't go wrong with either stock right now. Walmart is a recession-resilient juggernaut, and buying when it's having a down year is often rewarded for long-term investors.
I'm still going to have to go with Target.
A lot of good things have been happening since longtime Target executive Michael Fiddelke was promoted to CEO in February. Comps turned positive. After years of losing this retail game of tug-of-war, Target is gaining market share for the first time in years. It's sadly coming at Walmart's expense.
Momentum is on Target's side. Fiddelke recently doubled his sales target to 4% for this year. The earnings outlook remains strong, even with the new CEO earmarking $2 billion for renovations and operational improvements. Momentum wins with this strong turnaround story.
Target (TGT +0.26%) has raised its dividend for 55 consecutive years, spanning seven bear markets (a market drop of at least 20% from peak to trough) and multiple recessions. That's the kind of resiliency that income investors love to see.
The stock has climbed about 69% since the beginning of the year and no longer looks cheap on a price-to-earnings (P/E) basis. But that rebound is backed by real progress in sales and profitability, which in turn supports the dividend. With the stock still yielding about 2.8%, it could still be a solid buy, considering the turnaround underway in the business.
Image source: Target.
Target's improving sales are driving the stock higher Target is getting back to growth after a couple of years of weak results. Sales decline from fiscal 2024 through fiscal 2026 (ending in January). Multiple factors were to blame, including cautious consumer spending and inflation.
This year has been a different story. Net sales grew 5% year over year in the second quarter, with comparable sales up 3.8% amid solid increases in traffic. Management is guiding for full-year sales to grow about 5%. This followed a major effort to reset stores, such as expanding its fresh-produce selection and adding more space for impulse buys like snacks and candy.
Despite the stronger sales trends, there's still room for improvement. Management noted that home and apparel goods are still not where they need to be. Still, CEO Michael Fiddelke said they see their efforts "resonating with guests," which is building momentum.
Premium Feature
Moneyball Superscore
67/100
Today's Change
(
0.26
%) $
0.43
Current Price
$
164.44
Why the stock is still a buy for income investors Target recently raised its quarterly dividend 1.8% to $1.16 per share. It says a lot about the company's durability that it kept increasing the dividend even while sales were under pressure over the last three years.
Importantly, the company's margins and free cash flow look poised to increase. Over the past year, it paid out 46% of free cash flow in dividends, leaving room to sustain the dividend if traffic softens. Its dividend payout looks very safe, with free cash flow up 51% year-over-year on a trailing 12-month basis.
Adjusted earnings rose 20% year over year in the second quarter, excluding tariff refunds. That strength reflects growth in higher-margin revenue streams, including advertising, and better in-stock levels for frequently purchased items.
Overall, Target appears to be executing well. Over time, investors should expect improving earnings and free cash flow to support continued dividend increases. The stock is fairly valued at a forward P/E of about 16, but for investors who are primarily interested in the dividend, Target is still a solid stock to buy and hold.
Key Takeaways Target's non-merchandise sales rose 20.1%, outpacing the 5% gain in merchandise sales.Roundel billings rose nearly 20%, while Target GMV and Circle 360 membership revenues climbed more than 40%.Advertising revenues jumped to $279M from $217M, helping diversify Target's sales beyond merchandise. Target Corporation’s (TGT - Free Report) second-quarter fiscal 2026 results highlighted a pivotal shift in its revenue mix, driven by rapid expansion in non-merchandise revenues. Total net sales grew 5.3% year over year to $26,539 million, reflecting a 5% gain in merchandise sales and a 20.1% surge in non-merchandise sales. This increase underscores the growing momentum and operational scaling of Target’s alternative, higher-margin business initiatives.
The growth in non-merchandise sales was driven by continued expansion across Roundel advertising, Target Circle 360 membership revenues and the Target+ marketplace, showing that revenue streams beyond traditional product sales are becoming more meaningful within the business.
The underlying momentum was broad. Management said Roundel gross billings rose nearly 20% from a year ago, while Target+ marketplace gross merchandise value increased more than 40%. Target Circle 360 membership revenues also climbed more than 40%. These businesses extend Target’s relationship with guests and brands beyond merchandise transactions, adding advertising, marketplace and membership income to the company’s sales base.
Advertising revenues of $279 million in the quarter jumped from $217 million a year earlier. Other revenues increased to $174 million from $141 million, while credit card profit sharing edged up to $139 million from $134 million. Together, these components helped non-merchandise sales grow, well ahead of merchandise sales.
By leveraging its digital footprint, brand affinity and store traffic, Target is effectively monetizing guest engagement beyond traditional retail transactions. The surge in non-merchandise sales demonstrates that these strategic platforms are rapidly scaling, generating high-margin revenues and playing an essential role in diversifying Target’s overall business model as digital commerce and retail media continue to evolve.
How Does Target Stack Up Against Its Industry?Target, which competes with Dollar General Corporation (DG - Free Report) and Costco Wholesale Corporation (COST - Free Report) , has seen its shares rally 32.7% over the past three months against the industry’s 3.6% decline. While shares of Dollar General have risen 24.7%, those of Costco have fallen 6% in the aforementioned period.
Image Source: Zacks Investment Research
What Does Target’s Current Valuation Suggest?From a valuation standpoint, Target's forward 12-month price-to-earnings ratio stands at 15.77, lower than the industry’s 29.13. However, the stock is trading above its 12-month median level of 14.89.
Target is trading at a discount to Costco (forward 12-month P/E of 40.71) and Dollar General (17.53).
Image Source: Zacks Investment Research
What Do Earnings Estimates Signal for Target?The Zacks Consensus Estimate for Target’s earnings per share for the current and next fiscal year has increased by 16 cents and 9 cents to $10.43 and $9.36, respectively, over the past seven days.
Image Source: Zacks Investment Research
Target currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Target (TGT - Free Report) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.
Over the past month, shares of this retailer have returned +9.9%, compared to the Zacks S&P 500 composite's -0.1% change. During this period, the Zacks Retail - Discount Stores industry, which Target falls in, has lost 5.7%. The key question now is: What could be the stock's future direction?
While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.
Earnings Estimate RevisionsRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.
We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
Target is expected to post earnings of $2.04 per share for the current quarter, representing a year-over-year change of +14.6%. Over the last 30 days, the Zacks Consensus Estimate has changed +8.6%.
For the current fiscal year, the consensus earnings estimate of $10.43 points to a change of +37.8% from the prior year. Over the last 30 days, this estimate has changed +6.3%.
For the next fiscal year, the consensus earnings estimate of $9.36 indicates a change of -10.3% from what Target is expected to report a year ago. Over the past month, the estimate has changed +5.5%.
Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Target is rated Zacks Rank #2 (Buy).
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Projected Revenue GrowthEven though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.
In the case of Target, the consensus sales estimate of $26.29 billion for the current quarter points to a year-over-year change of +4%. The $109.74 billion and $113.13 billion estimates for the current and next fiscal years indicate changes of +4.7% and +3.1%, respectively.
Last Reported Results and Surprise HistoryTarget reported revenues of $26.54 billion in the last reported quarter, representing a year-over-year change of +5.3%. EPS of $2.46 for the same period compares with $2.05 a year ago.
Compared to the Zacks Consensus Estimate of $26.13 billion, the reported revenues represent a surprise of +1.57%. The EPS surprise was +6.96%.
The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates two times over this period.
ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.
Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.
As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Target is graded B on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Target. However, its Zacks Rank #2 does suggest that it may outperform the broader market in the near term.
NVIDIA is reiterated as a buy, with a raised price target, following a robust Q2 and a bullish FY2028 outlook. NVDA trades at a compelling 14.7x out-year earnings, supported by 70% projected FY28 revenue growth and strong gross margins. The $12.9B Hugging Face acquisition is seen as a strategic move to embed NVDA in the open-source AI ecosystem and drive compute demand.
Target (TGT +0.26%) stock has been on an epic run. Over the past 12 months, the share price has skyrocketed 79% (as of Sept. 3). This performance is certainly better than anyone could have hoped.
Credit goes to the company's turnaround efforts under CEO Michael Fiddelke, who took over from Brian Cornell in February. Target has improved merchandising, remodeled stores to upgrade the guest experience, and leaned into digital efforts. It has exceeded Wall Street earnings estimates in each of the last four quarters.
This retail stock currently trades at about $165 per share, a price it hasn't seen since the first half of 2024. But it's still 38% below its peak from November 2021.
Investors might rush to hop on the Target bandwagon. Here's why it's best to pause.
Image source: The Motley Fool.
Market sentiment has improved dramatically. Consequently, prospective investors have to deal with a stock price embedded with much higher expectations today.
As of this writing, Target shares sport a price-to-earnings ratio of 17.1. This multiple has risen by 59% in the past year. Shareholders have benefited primarily from valuation expansion.
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The good times can continue for Target stock much longer than any rational observer would anticipate. However, I believe there is no longer any margin of safety for investors who are seeking to buy shares right now. It appears as though the easy gains have already occurred.
Neil Patel has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Target. The Motley Fool has a disclosure policy.
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.
Zacks Premium includes access to the Zacks Style Scores as well.
What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.
#1 (Strong Buy) stocks have produced an unmatched +23.8% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.
This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.
That's where the Style Scores come in.
To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.
As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Target (TGT - Free Report) Founded in 1902, Target Corporation offers guests fashionable, differentiated merchandise and everyday essentials at discounted prices. Its assortment spans the company’s core merchandise categories, including Apparel & Accessories, Beauty, Food & Beverage, Hardlines, Home Furnishings & Décor, and Household Essentials. Target enables guests to purchase products seamlessly in stores or through its digital channels, and it leverages stores as fulfillment hubs. In addition to merchandise sales, Target generates revenues from other sources, most notably advertising revenues and credit card profit-sharing income. Other capabilities include Roundel, Target Plus and membership fees, including paid Target Circle 360. Target’s Shipt subsidiary facilitates delivery services, including same-day delivery to guests.
TGT is a #2 (Buy) on the Zacks Rank, with a VGM Score of A.
Momentum investors should take note of this Retail-Wholesale stock. TGT has a Momentum Style Score of A, and shares are up 11.5% over the past four weeks.
14 analysts revised their earnings estimate upwards in the last 60 days for fiscal 2027. The Zacks Consensus Estimate has increased $2.09 to $10.43 per share. TGT boasts an average earnings surprise of +10.5%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, TGT should be on investors' short list.
Meta's stock is down sharply, capex is ballooning toward $145 billion, and Wall Street's average target stops well short of four digits. So what would actually need to happen for shares to reach $1,000 by 2027?
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I’ve watched Meta (NASDAQ:META | META Price Prediction) transform from a social media company into what CEO Mark Zuckerberg now calls a “full-stack technology company” spanning data centers, custom chips, foundation models, and consumer apps. That reinvention hasn’t been kind to the stock lately.
Shares are down 12.2% year-to-date and off 21.43% over the past year, weighed down by a Q2 miss, $2.4 billion in legal charges, and sticker shock over $130 to $145 billion in 2026 capex. Yet Meta’s AI flywheel is quietly compounding. Here’s the path for shares to hit $1,000 by 2027.
Wall Street Sees Upside, Just Not $1,000 Yet The Street’s average target sits at $754.77, with 47 buys, 8 strong buys, 7 holds, and zero sells. Analysts model 2026 EPS of $31.72 rising to $33.89 in 2027, with a high-end 2027 estimate reaching $40.31.
Revenue is projected to climb toward $305 billion in 2027. Estimate revisions have skewed negative in the past 30 days after the Q2 miss, but bulls will note Meta had beaten consensus in 5 of the last 6 quarters before that stumble.
Path to $1,000 Per Share At today’s price near $594.61, Meta trades at roughly 19x 2026 EPS and 18x 2027 EPS. To hit $1,000, shares would need to gain about 68% and trade near 30x forward earnings on consensus, or closer to 25x if Meta reports toward the high-end 2027 estimate of $40.31. That’s a premium to the S&P 500’s 22x forward multiple, but reasonable for a business compounding earnings at this scale.
What could push Meta to $1,000?
AI-driven ad monetization. Zuckerberg said on the Q2 call that “on a dollar basis, our ads business is reporting faster year over year revenue growth than any other company’s reported ad business.” Advantage Plus already exceeds a $75 billion annual run rate, and new ranking models drove an 8.3% lift in Facebook ad clicks and 15.7% uplift in conversions. Enterprise AI as a new revenue line. Over 1 million businesses now use Meta Business Agents weekly, and Zuckerberg noted “there will continue to be a significantly higher margin on selling intelligence rather than selling compute directly.” AI glasses. The Ray-Ban and Oakley lines are selling ahead of plan, with Reality Labs revenue up 16% year over year to $431 million. Cash-flow firepower. Meta generated $115.8 billion in operating cash flow in 2025, funding both the buildout and $26.2 billion in buybacks. Meta’s History Says 68% Isn’t a Reach Meta has posted multiple years of outsized gains, and shares are still up 361.27% over the past decade.
A move from the mid-$500s to $1,000 by late 2027 would roughly retrace the 2023 recovery playbook. It also aligns with Meta’s five-year base-case scenario, which projects shares reaching $1,336 by 2031.
Bottom Line on $1,000 Hitting $1,000 requires roughly 68% upside from current levels, a re-rating toward 25x to 30x forward earnings, and continued proof that Meta’s AI capex is generating durable returns.
With $120 billion in cash and investments, industry-leading ad monetization, and Zuckerberg betting the company on personal superintelligence, the ingredients are there (we reverse-engineered what the biggest tech winners looked like early and put the pattern in a free playbook). Returns at this level shouldn’t be expected every year, but we’ve outlined the blueprint for how Meta could see outsized returns in 2027.
Contact [email protected] for any questions or corrections.
Key Takeaways Target will launch Beauty Studio on Sept. 10 in 600 stores, with 1,600 products from 90 brands.Beauty net sales rose to $3.64B from $3.40B a year earlier, extending high-single-digit growth.Target is adding prestige and global brands, advisers, testing, sampling and exclusive Circle offers. Target Corporation (TGT - Free Report) is leaning into its high-performing categories to maintain top-line growth, placing beauty at the forefront of its retail strategy. During the second quarter of fiscal 2026, the retailer experienced high single-digit net sales growth in its beauty segment. Building on this sustained momentum, Target is taking a bold step in its Beauty strategy with the Sept. 10 launch of Target Beauty Studio in more than 600 stores nationwide and on Target.com.
The new concept will feature more than 1,600 products from 90 prestige, emerging and global brands, with more than two-thirds of the featured brands new to Target. In the second quarter, Beauty net sales rose to $3,639 million from $3,396 million a year earlier. Management had also highlighted sustained guest response to Beauty investments made earlier in the year.
Target Beauty Studio takes that strategy beyond assortment expansion. The concept centers on discovery, combining dedicated Beauty Advisors with product testing, rotating features, exclusive Target Circle offers and a center table that showcases brands through storytelling and sampling. The assortment spans skincare, makeup, haircare, fragrance, bath and body, nails and other fast-evolving beauty segments.
The launch also adds a stronger prestige and global dimension through brands such as Sunday Riley, Briogeo, Rom&nd, Lake & Skye and Tan-Luxe. Target had previously described Beauty Studio as an elevated, immersive experience supported by dedicated advisers.
As one of seven core priority areas receiving disproportionate capital and operational resources, the beauty segment represents a key pillar in Target’s effort to drive relevance with busy families. The upcoming studio expansion marks the next chapter in Target’s multi-year effort to expand its merchandising authority in beauty.
How Does Target Stack Up Against Its Industry?Target, which competes with Dollar General Corporation (DG - Free Report) and Costco Wholesale Corporation (COST - Free Report) , has seen its shares rally 31.9% over the past three months against the industry’s 2.2% decline. While shares of Dollar General have risen 26.4%, those of Costco have fallen 4.5% in the aforementioned period.
Image Source: Zacks Investment Research
What Does Target’s Current Valuation Suggest?From a valuation standpoint, Target's forward 12-month price-to-earnings ratio stands at 16.77, lower than the industry’s 28.25. However, the stock is trading above its 12-month median level of 14.61.
Target is trading at a discount to Costco (with a forward 12-month P/E ratio of 45.42) but at a premium to Dollar General (16.75).
Image Source: Zacks Investment Research
What Do Earnings Estimates Signal for Target?The Zacks Consensus Estimate for Target’s earnings per share for the current and next fiscal year has increased by $2.08 and 44 cents to $10.42 and $9.31, respectively, over the past 30 days.
Image Source: Zacks Investment Research
Target currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
AST SpaceMobile (ASTS +11.83%) develops constellations of low Earth orbit (LEO) satellites that help telecom companies -- like AT&T (T -0.19%) and Verizon (VZ -0.16%) -- expand their wireless networks to remote areas that their terrestrial towers can't reach. It's launched 13 of its BlueBird satellites so far, and 12 of them are currently in orbit.
But after closing at a record high of $133.09 per share on May 28, 2026, AST's stock dropped back to the low $60s. A major cause of that decline was its slower-than-expected expansion. Back in late 2025, it claimed it could have 45 to 60 satellites in orbit by the end of 2026. But after losing BlueBird 7 in orbit in April, it reduced that target to just 45 satellites. During its second-quarter report in July, it pushed back the 45-satellite target to early 2027.
Image source: Getty Images.
That delay was disappointing, but AST has plenty of irons in the fire. It's already working with more than 60 carriers to reach over 3 billion wireless subscribers, it has a $1.3 billion backlog, and it still plans to expand its constellation to at least 248 satellites over the long term. From 2025 to 2028, analysts expect AST's revenue to surge from $71 million in 2025 to $1.73 billion. They also expect its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to turn positive in the final two years.
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With an enterprise value of $21 billion, AST's stock isn't cheap at 33 times next year's sales. But if you expect it to get back on track and aggressively expand its satellite network over the next few years, its recent pullback could be a great buying opportunity.
Leo Sun has positions in Verizon Communications. The Motley Fool has positions in and recommends AST SpaceMobile. The Motley Fool recommends Verizon Communications. The Motley Fool has a disclosure policy.
Somnigroup International NYSE: SGI said it has completed its acquisition of Leggett & Platt, expanding its vertical integration in bedding components while adding businesses serving automotive, furniture, geocomponents and hydraulic-cylinder markets.
Chairman, President and CEO Scott Thompson said the combined company has more than $11 billion in trailing 12-month sales, more than $750 million in trailing 12-month net income, over 170 manufacturing plants, more than 2,800 retail stores, over 40 direct-to-consumer e-commerce websites and approximately 36,000 associates. The company also reported a $20 billion enterprise value and $15 billion market capitalization following the transaction.
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Leggett & Platt will operate as a standalone business unit within Somnigroup, alongside Tempur Sealy, Mattress Firm and Dreams. Thompson said the decentralized model is intended to allow individual units to remain close to their customers and markets while drawing on Somnigroup’s scale, balance sheet and operational capabilities.
Synergy Target Raised to $75 Million Executive Vice President and CFO Bhaskar Rao said Somnigroup increased its annual run-rate synergy target to approximately $75 million, up from the roughly $50 million estimate provided when the deal was announced. The revised target includes $35 million of sourcing-related opportunities, $30 million in operations-related opportunities and a $10 million EBITDA benefit from innovation initiatives.
The company expects to realize about $25 million of synergy benefits during calendar 2027, with full realization over three years. Rao said Somnigroup expects to produce more than 90% of its U.S. innerspring needs internally beginning Jan. 1, 2027. Before the combination, Somnigroup sourced 80% of its U.S. springs from Leggett & Platt under a long-term contract, according to Thompson.
Operational opportunities include manufacturing optimization, logistics efficiencies involving chemical storage, warehousing and ocean freight, and the removal of duplicative public-company costs. The companies are also evaluating additional sourcing opportunities in chemicals and professional services.
Thompson said the company’s current synergy target does not include potential revenue synergies, including possible volume gains stemming from Mattress Firm’s updated merchandising standards. Mattress Firm has communicated more stringent component-qualification criteria to suppliers, and Leggett & Platt’s innerspring systems and ECS specialty foams have qualified under those standards.
Financial Impact and Guidance Rao said the all-stock transaction was valued at approximately $2.3 billion based on Somnigroup’s Aug. 25, 2026 closing share price and including Leggett & Platt’s existing net debt. Somnigroup issued approximately 20.6 million shares in connection with the acquisition.
The acquisition is expected to be approximately $0.35 to $0.40 accretive to annualized earnings per share before synergies under the current operating environment, Rao said. For the partial 2026 period, the company expects roughly $0.10 of EPS accretion on approximately $1.2 billion in Leggett sales after eliminating intercompany revenue. Somnigroup raised its annual guidance by $0.10 as a result.
For the remainder of 2026, Rao said the company expects Leggett & Platt to contribute approximately $1.25 billion in as-reported sales and $120 million in adjusted EBITDA, with roughly two-thirds of the EBITDA contribution expected in the fourth quarter. He said the third quarter faces a difficult prior-year comparison, while the fourth quarter is expected to show some sales and EBITDA growth.
Somnigroup also expects approximately $50 million of annualized non-cash expense from the fair-value adjustment of the acquired business, primarily affecting cost of goods sold, and approximately $10 million of annualized non-cash expense related to acquired Leggett bonds, affecting interest expense.
The transaction reduced Somnigroup’s net financial leverage by approximately 0.2 times, according to Rao. The company expects to end the year near the midpoint of its 2-times to 3-times adjusted EBITDA leverage target range.
Product Branding and Industry Outlook Somnigroup plans to highlight Leggett & Platt innerspring technology on selected mattress products, beginning with an all-new Stearns & Foster collection scheduled for launch this fall. Thompson said the initiative is designed to make consumers more aware of the components that affect mattress comfort, support and durability.
“What is in your mattress matters,” Thompson said, adding that retail sales associates will receive enhanced training on the quality and durability of Leggett springs.
Thompson said the company does not expect material channel conflict with Leggett & Platt’s third-party bedding customers. He cited the component supplier’s product quality and manufacturing scale, and said there is no strategic reason the transaction should threaten those customers.
On the broader market, Thompson said the global bedding industry remains structurally sound despite an extended downturn. He attributed weak demand primarily to consumer confidence and said entry-level consumers and those unsettled by current events have been slower to enter the mattress-buying funnel.
Somnigroup plans to update its long-term outlook, including the acquisition’s impact on its prior 2028 EPS target of $5.15, when it reports fourth-quarter results. Thompson said the previous target remains “in play,” while the Leggett & Platt acquisition could increase upside if the bedding market recovers.
The company continues to target allocating 50% of free cash flow during 2026 and expects stock repurchases to be “very robust” over the foreseeable future, particularly in 2027, Thompson said.
About Somnigroup International (NYSE:SGI)Somnigroup International Inc, together with its subsidiaries, designs, manufactures, distributes, and retails bedding products in the United States and internationally. It provides mattresses, foundations and adjustable foundations, and adjustable bases, as well as other products comprising pillows, mattress covers, sheets, cushions, and various other accessories and comfort products under the Tempur-Pedic, Sealy, Stearns & Foster, Sealy, and Cocoon by Sealy brand names. The company sells its products through approximately company-owned stores, online, and call centers; and third party retailers, including third party distribution, hospitality, and healthcare.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Vancouver, British Columbia – TheNewswire - September 2, 2026 – Adamera Minerals Corp. (TSX-V: ADZ; OTC: DDNFF) (“Adamera” or the “Company”) announces partial results from an induced polarization (IP) survey that has identified a strong chargeability anomaly measuring at least 2.8km in width with evidence of full width in the range of 4km, at the 100% owned South Hedley Copper-Gold Property in southern British Columbia. The survey is continuing.
The chargeability response of the 2D inversion indicates that the anomaly persists below 325m depth. The Company interprets it as evidence of a buried sulphide system of considerable strength and extent. Volcanic rocks dominate surface exposures, however, one rock sample above the anomaly was identified as a sulphide-bearing dioritic intrusive rock. The intrusive carries copper values ranging from 200 to 2000 ppm (see photo below).
The South Hedley Copper-Gold Property is located within the Quesnel Trough, which hosts several of British Columbia’s largest copper-gold porphyry mines. The IP anomaly is on the Max target situated 18km east of the Copper Mountain mine and 18km west of the Nickel Plate gold mine, near Hedley, B.C. The scale of the chargeability anomaly at Max appears to be similar to that surrounding the nearby Copper Mountain deposit.
The IP Survey
The pole-dipole IP survey is being conducted along 5km lines spaced 400m apart. Data are collected at 100m dipole stations, with an estimated depth penetration of approximately 325m.
Inversion modelling of the IP data shows a chargeability anomaly measuring at least 2.8km in width, and up to 4km depending on interpretation. To date, two 5km long lines spaced by 400m, L2600 and L3000, have been completed (Figure 1). A third line is currently underway.
Chargeability increases below the volcanic rocks at surface, suggesting a sulphide source at depth. Peak chargeability values greater than 50 mV/V have been measured in the field, with the highest inverted values reaching 77 mV/V on L2600 and 59 mV/V on L3000.
In August, a rock sample collected over the chargeability anomaly was described in the field as a porphyritic diorite intrusive with sulphides. Preliminary portable XRF analysis of this sample, MR26-12, returned anomalous copper values of 200 to 2000 ppm.
“An undrilled copper-gold porphyry target of this size and strength, 18km from a producing copper mine in an established district, is not something that often turns up,” stated Mark Kolebaba, President and CEO of Adamera Minerals. “We will continue to work to provide further evidence of a concealed sulphide system. The next steps are straightforward: extend the IP survey, process the soil and rock samples and drill the resulting targets.”
The Target Characteristics
Proven belt: The Max Target sits in the Quesnel Trough, a prolific porphyry copper-gold belt in south-central B.C., 18km from the producing Copper Mountain mine.
A classic porphyry geochemical response: A 2x3 km copper±gold-in-soil anomaly at Max forms a horseshoe pattern around younger volcanic cover. Copper in soil reaches 1,450 ppm and gold reaches 1.34 g/t. The anomaly remains open to the north, west and possibly east. Approximately 1800 additional soil samples have been collected to define the copper anomaly to the west and north.
A buried intrusive source: Ground magnetic surveying defines a 2x3 km magnetic high centred within the soil anomaly. The magnetic anomaly is interpreted as a buried intrusive body with a modelled top at approximately 110m depth.
Geophysical evidence of sulphides at depth: An extensive chargeability anomaly persists below 325m depth, where elevated chargeability is combined with moderate-to-elevated resistivity rather than a low-resistivity conductor. This is interpreted as a buried sulphide system.
Surface evidence of the mineralizing system: Rocks identified at surface indicate an underlying mineralizing system. Gold-bearing veins beneath the volcanic cap are exposed in an incised valley. They are interpreted as a link to the buried target. In August 2026, ground-truthing along the IP line identified possible porphyry-style alteration as well as intrusive rocks with copper ranging from 93 ppm to 350 ppm and as high as 2034 ppm.
Operational Details
Because IP surveying uses electrical current, it is subject to more wildfire restrictions than other exploration activities. Through the season, the IP survey was affected by numerous wildfire restrictions, including a complete shutdown of the IP program on August 11. While the IP survey was suspended, the crew shifted to soil sampling and ground magnetic surveying. Adamera collected an additional 1800 soil samples. Results are pending.
Wildfire risk and associated restrictions have eased due to cooler temperatures and recent rainfall. The IP surveying has resumed, with a third line now underway.
Next Steps
The Company has added drill sites to its drill permit application based on the current IP survey and August 2026 program. Continued work includes:
IP survey: Continue IP surveying along 5km north-south lines spaced 400m apart. A third line, L2200, is underway over the Max Prospect, where soil samples contain up to 1450 ppm copper and 1.34 g/t gold.
Rock Sample Analysis: Geochemicaland petrographic analysis will be completed on numerous rock samples including MR26-12.
Soil geochemistry: Geochemicalprocessing of approximately 1800 soil samples over the Max Copper-Gold target.
Geological follow-up: Continue prospecting along IP anomalies to identify sulphide sources and overlying alteration.
Drilling: Advance the pending drill permits to test the developing targets.
2D Inversion Results
Click Image To View Full Size
Figure 1: Chargeability 2D inversion, lines L2600 and L3000, 100m electrode spacing. Warm colours (red/magenta) indicate elevated chargeability (mV/V), interpreted by the Company as evidence of a sulphide-bearing system at depth. Peak inverted values reach 77 mV/V on L2600 and 59 mV/V on L3000.
Click Image To View Full Size
Photo: Porphyritic intrusive rock with sulfides found in outcrop above IP
chargeability corridor. Copper values ranging from 200 to 2000 ppm.
Qualified Person
Martin St. Pierre, P.Geo., a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical content of this news release. Portable XRF analysis of rock samples is preliminary in nature, is used as a field-screening technique, and has not been verified by an accredited laboratory. The Copper Mountain and Nickel Plate mines are located on properties adjacent to or near the South Hedley Property. Mineralization on those properties is not necessarily indicative of mineralization on the South Hedley Property.
About Adamera
Adamera Minerals Corp. is targeting critical metals in the U.S. and copper-gold in southern British Columbia. In Washington State, the Company is advancing a tungsten portfolio intended to support a secure domestic supply for U.S. markets. In Canada, Adamera is exploring the South Hedley Copper-Gold Project and maintains several drill-ready gold projects in its portfolio.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Statements in this press release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
Toronto, Ontario--(Newsfile Corp. - September 2, 2026) - AbraSilver Resource Corp. (TSX: ABRA) (OTCQX: ABBRF) ("AbraSilver" or the "Company") is pleased to report new assay results from five holes completed at the Cerro Viejo target as part of the ongoing Phase VI exploration drill program at its wholly-owned Diablillos project in Argentina (the "Project").
Cerro Viejo is located approximately 4 km north of the Oculto deposit, where surface channel sampling and earlier reconnaissance drilling identified gold mineralization associated with extensive east-west trending silicified structures extending for approximately 1.5 km. Initial reconnaissance drilling at Cerro Viejo conducted in 2024 returned 36.0 metres ("m") grading 1.91 g/t gold from a downhole depth of only 87 m in hole DDH 24-056, including 5.0 m grading 7.22 g/t gold (see the Company's news release dated January 27, 2025). Follow-up drilling has now confirmed broad zones of shallow, oxide-hosted gold mineralization beginning close to surface, together with copper mineralization in sulphides at depth.
These results further highlight the exploration potential of the Diablillos property beyond the Mineral Resources and Mineral Reserves that underpin the recently completed Definitive Feasibility Study ("DFS").
Highlight Drill Results: Widths are reported as drilled; true widths are not yet known.
DDH 26-037: 27.0 m of 0.58 g/t gold and 4.6 g/t silver from a downhole depth of only 23 metres, within the oxide zone
DDH 26-043: 7.0 m of 0.53% copper from a downhole depth of 97 m, confirming sulphide copper mineralization beneath the gold-bearing oxide zone
DDH 26-047: 32.0 m of 0.29 g/t gold and 2.8 g/t silver from a downhole depth of only 9 m, followed by 14.0 m of 1.50 g/t gold and 6.2 g/t silver from 54 m, both within the oxide zone
DDH 26-048: 21.0 m grading 0.12 g/t gold and 0.10% copper from a downhole depth of 82 m, and 18.0 m grading 0.13 g/t gold and 0.06% copper from 212 m
212.0230.0Sulphides18.0 1.50.130.06 Note: All results in this news release are rounded. Assays are uncut & undiluted. Widths are drilled widths, not true widths. True widths are unknown
John Miniotis, President and CEO, commented, "These initial results from Cerro Viejo are encouraging, with broad zones of gold mineralization starting close to surface within the oxide zone. With the Diablillos DFS now complete and the Project advancing toward a construction decision, our exploration efforts have returned to unlocking the longer-term growth potential, and Cerro Viejo is emerging as an exciting target within the broader district."
Dave O'Connor, Chief Geologist, commented, "What stands out from these results is the continuity of shallow gold mineralization, with mineralization beginning essentially at surface in several holes. The copper mineralization encountered beneath the oxide zone is also consistent with the upper levels of the larger porphyry system interpreted to underlie this area. Continued drilling will help us better define the scale and potential of this emerging target."
Figure 1 – Plan View of Cerro Viejo Drill Results & Surface Sample Results
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Figure 2 – Cerro Viejo Cross-Section
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Additional Details on Drill Results
Cerro Viejo is one of several new exploration areas being systematically tested within the Diablillos property and is located approximately 4 km north of the Oculto deposit. Gold mineralization at Cerro Viejo is hosted within extensive, east-west trending silicified structures that have been traced at surface within a band approximately 0.5 kilometres wide over a strike length of approximately 1.5 kilometres. The mineralization occurs in an epithermal environment interpreted to represent the upper levels of a major porphyry system.
Initial reconnaissance drilling at Cerro Viejo in 2024 intersected widespread gold mineralization, including 36.0 m grading 1.91 g/t gold from a downhole depth of only 87 m in hole DDH 24-056, with a higher-grade interval of 5.0 m grading 7.22 g/t gold. Surface chip and channel samples from the associated siliceous outcrops returned gold values including 16.36 g/t, 12.14 g/t, 3.2 g/t and 2.3 g/t gold. Together these results outlined a large zone with potential for shallow gold mineralization, which is the target of the current drill program. For further details, see the Company's news release dated January 27, 2025.
The mineralized structures occur within zones of silicification in granitoid rocks that host the underlying porphyry system. The gold-bearing silicification includes areas of vuggy silica and brecciation with alunite-jarosite alteration and appears to be steeply dipping. Oxidation in the area is shallow, and preliminary mineralogical work indicates that gold associated with sulphides (pyrite) largely occurs as fine native metal. Metallurgical testwork has not been completed on mineralization from Cerro Viejo.
Cerro Viejo – Near-Surface Oxide Gold Zone (Holes DDH 26-037 and DDH 26-047)
Holes DDH 26-037 and DDH 26-047 both intersected broad zones of gold mineralization within the oxide zone from close to surface, with mineralization in hole DDH 26-047 commencing at a downhole depth of only 9 m. Oxidation across the area tested to date is shallow, and the mineralization intersected in these holes is oxide-hosted throughout.
Cerro Viejo – Copper Mineralization at Depth (Holes DDH 26-043 and DDH 26-048)
Copper values in holes DDH 26-043 and DDH 26-048 occur within sulphides below the oxide zone and are interpreted to represent the deeper parts of steeply dipping mineralized structures. Hole DDH 26-048 is located approximately 500 m northeast of hole DDH 26-043, indicating that mineralization of this style is developed across a substantial area of the property.
Phase VI Exploration Update:
A total of approximately 12,000 m have been completed in 54 diamond drill holes under the Phase VI exploration program since it commenced in January 2026, of which approximately 1,000 m have been drilled at Cerro Viejo. Two drill rigs remain active on the Project, and a third drill rig is expected to be mobilized later in September.
Drilling continues to test extensions of the known mineralization at Oculto West, Oculto East and along the JAC–Oculto trend, in parallel with first-pass and follow-up drilling on new targets including Cerro Viejo and the adjacent Condoryacu property, where initial drilling returned 72 m grading 18.7 g/t gold, 117 g/t silver and 2.06% copper from surface (see the Company's news release dated March 30, 2026).
The Company has recently completed a drone-based magnetic survey at Condoryacu, which shows a distinct north-south character that may reflect structures controlling mineralization. The results will be used to guide follow-up drilling at Condoryacu, which is expected to commence shortly.
The Company is currently conducting a CSAMT survey across the broader Oculto and JAC areas and the intervening trend, with the objective of identifying additional drill targets for the balance of the Phase VI program and for future exploration. The survey comprises northwest-southeast lines, approximately perpendicular to the main structural trends of mineralization, covering an area of 3.5 km northeast-southwest by 2 km northwest-southeast. A historical CSAMT survey over the area showed a strong vertical contrast in resistivity, interpreted to reflect an alteration zone associated with the main feeder system to the Oculto mineralization.
Additional assay results from the ongoing Phase VI drill program are pending and will be released as they become available.
The Diablillos property is located within the Puna region of Argentina, in the southern part of Salta Province along the border with Catamarca Province, approximately 160 km southwest of the city of Salta and 375 km northwest of the city of Catamarca. AbraSilver acquired the property in 2016, which comprises 15 contiguous and overlapping mineral concessions with excellent year-round road access.
Exploration to date has outlined multiple occurrences of silver-gold oxide mineralization at Oculto, JAC, Laderas, and Fantasma, located within a 500 m to 1.5 km distance surrounding the Oculto/JAC epicentre. To date, over 170,000 metres have been drilled on the property, which continues to demonstrate the strong growth potential of shallow, oxide-hosted silver and gold resources. In addition, a large porphyry complex is centered approximately 4 km northeast of Oculto which includes outcropping porphyry intrusions within a major zone of alteration and associated gold rich epithermal mineralization.
Comparatively nearby examples of high sulphidation epithermal deposits include: La Coipa (Chile); Yanacocha (Peru); El Indio (Chile); Lagunas Nortes/Alto Chicama (Peru) Veladero (Argentina); and Filo del Sol (Argentina). The most recent tank and heap leach Mineral Resource estimate for Diablillos is shown in Table 2. Following completion of the DFS in June 2026, the Project also hosts Proven and Probable Mineral Reserves of 77.9 Mt grading 146 g/t silver equivalent ("AgEq"), containing 184 Moz of silver and 1.8 Moz of gold (366 Moz AgEq). For additional details, please refer to the "NI 43-101 Mineral Resource Estimate, Diablillos Silver-Gold Project" dated June 19, 2026, available on SEDAR+ and the Company's website.
Table 2 - Diablillos Mineral Resource Estimate – As of April 30, 2026
ZoneCategoryTonnes
(000 t)Ag
(g/t)Au
(g/t)AgEq
(g/t)Contained
Ag
(000 Oz)Contained
Au
(000 Oz )Contained
AgEq
(000 Oz)Tank
LeachOxidesMeasured41,0421000.68159131,668896209,281Indicated60,978410.589281,0601,143180,078Measured &102,021650.62119212,7282,039389,359Indicated Inferred14,400250.577411,46826234,187Heap
LeachOxidesMeasured25,469130.091910,9977615,425Indicated104,49170.131524,32842849,342Measured &129,96080.121635,32550364,767Indicated
Inferred49,347120.263218,40642050,340Footnotes for Tank Leach Resource:Mineral Resources are not Mineral Reserves and have not demonstrated economic viability.The formula for calculating AgEq is as follows: Silver Eq Oz = Silver Oz + Gold Oz x (Gold Price/Silver Price) x (Gold Recovery/Silver Recovery).The Mineral Resource model was populated using Ordinary Kriging grade estimation within a three-dimensional block model and mineralized zones defined by wireframed solids, which are a combination of lithology and alteration domains. The 1m composite grades were capped where appropriate.The Mineral Resource is reported inside a conceptual Whittle open pit shell derived using US$ 34.50/oz Ag price, US $3,200/oz Au price, 86.6% process recovery for Au, and 80.9% process recovery for Ag, for the tank leaching and 74.3% process recovery for Au, and 46.8% process recovery for Ag, for the secondary heap leaching.Open pit optimization was constrained using a dual-process approach, with tank leaching as the primary process (total opex of US$32.30/t) and heap leaching as the secondary process (total opex of US$7.00/t).The MRE has been categorized in accordance with the CIM Definition Standards (CIM, 2014).A Net Value per block [NVB] calculation was used to constrain the Mineral Resource, determine the "Benefits = Income-Cost", where, Income = [(Au Selling Price (US$/oz) - Au Selling Cost (USD/Oz)) x (Au grade (g/t)/31.1035)) x Au Recovery (%)] + [(Ag Selling Price (US$/oz) - Ag Selling Cost (USD/Oz)) x (Ag grade (g/t)/31.1035)) x Ag Recovery (%)] and Cost = Mining Cost (US$/t) + Process Cost (US$/t) + Transport Cost (US$/t) + G&A Cost (US$/t) + [Royalty Cost (%) x Income]The Mineral Resource is sub-horizontal with sub-vertical feeders and has a reasonable prospect for eventual economic extraction by open pit methods.In-situ bulk densities were assigned to each model domain, according to samples averages for each lithology domain, separated by alteration zones and subset by oxidation.All tonnages reported are dry metric tonnes and ounces of contained gold are troy ounces.Mining recovery and dilution factors have not been applied to the Mineral Resource estimates.The Mineral Resource was estimated by Luis Rodrigo Peralta, B.Sc., FAusIMM CP (Geo), an INSA Consultora Managing Principal Geologist, and an Independent Qualified Person under NI 43-101.Mr. Peralta is not aware of any environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues that could materially affect the potential development of the Mineral Resource.All figures are rounded to reflect the relative accuracy of the estimates. Minor discrepancies may occur due to rounding to appropriate significant figures.Footnotes for Heap Leach Resource:Mineral Resources are not Mineral Reserves and have not demonstrated economic viability.The formula for calculating AgEq is as follows: Silver Eq Oz = Silver Oz + Gold Oz x (Gold Price/Silver Price) x (Gold Recovery/Silver Recovery).The Mineral Resource model was populated using Ordinary Kriging grade estimation within a three-dimensional block model and mineralized zones defined by wireframed solids, which are a combination of lithology and alteration domains. The 1m composite grades were capped where appropriate.The Mineral Resource is reported inside a conceptual Whittle open pit shell derived using US$ 34.50/oz Ag price, US $3,200/oz Au price, 86.6% process recovery for Au, and 80.9% process recovery for Ag, for the primary process tank leaching and 74.3% process recovery for Au, and 46.8% process recovery for Ag, for the secondary process heap leaching.Open pit optimization was constrained using a dual-process approach, with tank leaching as the primary process (total opex of US$32.30/t) and heap leaching as the secondary process (total opex of US$7.00/t).The MRE has been categorized in accordance with the CIM Definition Standards (CIM, 2014).A Net Value per block [NVB] calculation was used to constrain the Mineral Resource, determine the "Benefits = Income-Cost", where, Income = [(Au Selling Price (US$/oz) - Au Selling Cost (USD/Oz)) x (Au grade (g/t)/31.1035)) x Au Recovery (%)] + [(Ag Selling Price (US$/oz) - Ag Selling Cost (USD/Oz)) x (Ag grade (g/t)/31.1035)) x Ag Recovery (%)] and Cost = Mining Cost (US$/t) + Process Cost (US$/t) + Transport Cost (US$/t) + G&A Cost (US$/t) + [Royalty Cost (%) x Income].The Mineral Resource is sub-horizontal with sub-vertical feeders and a reasonable prospect for eventual economic extraction by open pit methods.In-situ bulk density was assigned to each model domain, according to samples averages for each lithology domain, separated by alteration zones and subset by oxidation.All tonnages reported are dry metric tonnes and ounces of contained gold are troy ounces.Mining recovery and dilution factors have not been applied to the Mineral Resource estimates.The Mineral Resource was estimated by Luis Rodrigo Peralta, B.Sc., FAusIMM CP (Geo), an INSA Consultora Managing Principal Geologist, and an Independent Qualified Person under NI 43-101.Mr. Peralta is not aware of any environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues that could materially affect the potential development of the Mineral Resource.All figures are rounded to reflect the relative accuracy of the estimates. Minor discrepancies may occur due to rounding to appropriate significant figures.QA/QC and Core Sampling Protocols
AbraSilver applies industry standard exploration methodologies and techniques, and all drill core samples are collected under the supervision of the Company's geologists in accordance with industry best practices. Drill core is transported from the drill platform to the logging facility where drill data is compared and verified with the core in the trays. Thereafter, it is logged, photographed, and split by diamond saw prior to being sampled. Samples are then bagged, and quality control materials are inserted at regular intervals at site; these include blanks and certified reference materials as well as duplicate core samples which are collected in order to assess sampling precision and reproducibility. Groups of samples are then placed in large bags which are sealed with numbered tags in order to maintain a chain-of-custody during the transport of the samples from the project site to the laboratory.
All samples are received by the ASA (Alex Stewart Argentina) preparation laboratory in Salta, where they are prepared, then the pulp sachet is directly dispatched to its facility in Mendoza, Argentina, where they are analyzed. All samples are analyzed using a multi-element technique consisting of a four-acid digestion followed by ICP/AES detection, and gold is analyzed by 50g Fire Assay with an AAS finish. Silver results greater than 100g/t are re-analyzed using four acid digestion with an ore grade AAS finish.
Qualified Persons
David O'Connor P.Geo., Chief Geologist for AbraSilver, is the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, and he has reviewed and approved the scientific and technical information in this news release.
About AbraSilver
AbraSilver is a leading silver-gold development company focused on advancing its 100%-owned Diablillos Project in the mining-friendly provinces of Salta and Catamarca, Argentina. The recently completed Definitive Feasibility Study highlights Diablillos as a robust, high-margin, long-life precious metals project with a strong production profile and substantial exploration upside. In addition, the Company has entered into an earn-in option and joint venture agreement with Teck on the La Coipita project, located in the San Juan province of Argentina. AbraSilver is listed on the TSX under the symbol "ABRA" and in the U.S. on the OTCQX under the symbol "ABBRF."
For further information please visit the AbraSilver Resource website at www.abrasilver.com, our LinkedIn page at AbraSilver Resource Corp., and follow us on X at www.x.com/abrasilver.
Cautionary Statements
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur are forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. When considering this forward-looking information, readers should keep in mind the risk factors and other cautionary statements in the Company's disclosure documents filed with the applicable Canadian securities regulatory authorities on SEDAR+ at www.sedarplus.ca. The risk factors and other factors noted in the disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this news release
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/312460
Source: AbraSilver Resource Corp.
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Hole 26MN-115 returned, at Goldwedge:3.02 g/t gold over 48.92 metres ("m") from 118.87 m including 19.29 g/t gold over 5.24 m from 151.79 m within the Zanzibar Formation.5.14 g/t gold over 10.15 m from 173.58 m, at the faulted contact of the Zanzibar Formation and Manhattan Caldera Volcanics.0.46 g/t gold over 16.70 m from 210.92 m within the Manhattan Caldera VolcanicsHole 26MN-118 returned, at Goldwedge:1.19 g/t gold over 99.94 m from 98.61 m including 5.13 g/t gold over 4.16 m from 147.82 m within the Zanzibar Formation.Hole 26MN-116 returned, along the Zanzibar Trend:0.93 g/t gold over 22.16 m from 95.71 m including 3.72 g/t gold over 3.75 m from 98.66 m, within the Gold Hill Formation.0.84 g/t gold over 25.05 m from 205.07 m including 3.63 g/t gold over 3.47 m from 213.33 m, within the Gold Hill Formation.Vancouver, British Columbia--(Newsfile Corp. - September 2, 2026) - Scorpio Gold Corp. (NASDAQ: SGLD) (TSXV: SGLD) (OTCQB: SRCRF) (FSE: RY9) ("Scorpio Gold", or the "Company") is pleased to announce results from four drill-holes of the Phase Two drill program at the Manhattan District Project ("Manhattan"), Nevada, USA: 26MN-113, 26MN-115, 26MN-116, and 26MN-118, see Figure 1. The results are tabulated in Table 1 and discussed below. Scorpio Gold has drilled 114 drill holes to date from its Phase Two diamond drilling program, 25MN-011 through 25MN-045, 26MN-046 through 26MN-123, for a grand total of 32,585 m. With the results herein, Scorpio Gold has reported assays on 107 of these (25MN-011 through 25MN-045, 26MN-046 through 26MN-116, and 26MN-118, totalling 30,889 m, and assays are pending from 7 holes (26MN-117 and 26MN-119 through 26MN-123), totalling 1,696 m. The pending results will be reported as they become available.
"Manhattan keeps delivering on the two things that matter most in this market: scale and grade. Hole 26MN-115 — 19 gram per tonne gold over 5 metres contained within 3 grams across 48 metres — confirms that high grade feeder zones sit within an expanding bulk tonnage envelope. Just as importantly, every hole at Goldwedge is sharpening our structural understanding of the system: we can now trace mineralization along the Reliance Fault, from the Zanzibar sediments in its hanging wall through to the Caldera volcanics at the contact, and that model is directly guiding where we drill next. Grades like these put a potential underground startup on the table as a nearer-term path to production, while the broader district — eight and a half kilometres of strike anchored by existing historic resources — needs modern, systematic drilling to expand toward its true district scale potential. Few juniors can offer that combination of near-term optionality and district-scale upside, and we intend to keep advancing both," said Zayn Kalyan, CEO and Director of Scorpio Gold.
Figure 1. Surface Plan Map of drill holes.
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Goldwedge: Drill holes 26MN-115 and 26MN-118 are both approximately 50 m step-outs along the projected Reliance Fault from high grade gold intercepted in drill hole 26MN-091, within the Manhattan Caldera Volcanics. Recent drilling at Goldwedge, including the results herein, has demonstrated consistently strong mineralization, especially in the Paleozoic sediments of the Ordovician Zanzibar Formation, located in the hanging wall of the Reliance Fault. The Reliance Fault is considered one of many feeders to mineralization. Additionally, recent results have proven that the Manhattan Caldera Volcanics can likewise host lower grade envelopes around high grade feeder structures, as demonstrated by the following previously reported intercepts:
1.69 g/t gold over 55.70 m from 118.90 m (24MN-009)0.59 g/t gold over 49.23 m from 31.69 m (26MN-048)11.84 g/t gold over 8.39 m from 106.21 m (26MN-075)1.27 g/t gold over 45.23 m from 137.95 m (26MN-086)1.17 g/t gold over 21.58 m from 111.71 m (26MN-089)2.04 g/t gold over 11.83 m from 115.67 m (26MN-091)1.60 g/t gold over 33.53 m from 6.70 m (26MN-101)3.38 g/t gold over 33.31 m from 138.90 m (26MN-109)2.05 g/t gold over 97.99 m from 64.16 m (26MN-110)The Gap Zone: The Gap Zone is the previously undrilled area that connects Goldwedge to the Reliance Trend and ultimately, the historic West Pit. Mineralization is hosted entirely within the meta-sediments of the Gold Hill Formation and is dominantly controlled by veins and structures related to the steeply dipping Reliance Fault. First tested in early 2025, significant mineralization at the Gap Zone includes:
1.24 g/t gold over 92.81 m from 3.05 m (25MN-011)1.27 g/t gold over 14.75 m from 194.95 m (25MN-013)0.80 g/t gold over 33.13 m from 118.38 m (25MN-017)0.94 g/t gold over 36.97 m from 162.95 m (25MN-020)2.21 g/t gold over 7.38 m from 222.14 m (25MN-030)Zanzibar Trend: The Zanzibar Trend is the previously underexplored area between Mustang Hill and Goldwedge along the faulted contact of the Paleozoic meta-sediments and the Oligocene aged volcanics of the Manhattan Caldera. High grade gold mineralization is encountered along two main controlling features: sub-vertical structures parallel to the main contact fault, and along gently to moderately dipping bedding planes primarily in the Cambrian Gold Hill Formation. Drill hole 26MN-116 steps out approximately 50 m to multiple drill holes along the trend, including 26MN-067, 25MN-045, and 26MN-087. The results reported herein add to the significant mineralization encountered along the Zanzibar Trend, including:
3.14 g/t gold over 49.62 m from 59.95 m (25MN-044)0.66 g/t gold over 57.64 m from 29.59 m (25MN-045)2.10 g/t gold over 22.25 m from 34.14 m (26MN-063)2.74 g/t gold over 16.49 m from 45.45 m (26MN-066)12.78 g/t gold over 5.91 m from 134.51 m (26MN-067)0.69 g/t gold over 23.23 m from 4.05 m (26MN-070)2.68 g/t gold over 11.34 m from 0.76 m (26MN-071)2.77 g/t gold over 12.68 m from 58.64 m (26MN-080)0.98 g/t gold over 23.20 m from 112.13 m (26MN-114)Black Mammoth: Black Mammoth is a ~200+ m step-out from Goldwedge. Strong gold mineralization can be found within the Ordovician Zanzibar sediments along structures related to the Black Mammoth Fault, and on both sides of the major fault defining the contact between the Paleozoic sediments and the Oligocene aged volcanics of the Manhattan Caldera. Results at Black Mammoth will be reported as they become available. Significant mineralization includes:
0.75 g/t gold over 24.69 m from 230.12 m (26MN-053)1.02 g/t gold over 40.23 m from 195.69 m (26MN-057)0.62 g/t gold over 62.21 m from 230.43 m (26MN-069)6.04 g/t gold over 4.86 m from 308.23 m (26MN-072)0.58 g/t gold over 18.04 m from 311.05 m (26MN-078)0.83 g/t gold over 18.01 m from 277.68 m (26MN-092)2.56 g/t gold over 13.38 m from 293.28 m (26MN-096)All 2026 drill holes tested within and beyond the Inferred Resource Constraining Pit ("IRCP"), targeting new mineralization outside of the 2025 MRE block model, see Figure 2. For further details see "Mineral Resource Estimate and NI 43-101 Technical Report, Manhattan Property, Nye County, Nevada" with an effective date of June 4, 2025, on Scorpio Gold's website at Technical Report.
227.38235.528.140.2526MN-113Moriah51.7953.952.160.35716 m135° / -45°¹ Intervals contain no more than 3 continuous metres grading less than 0.1 g/t gold.Table 1. Results from the current batch of drill holes. Note: There is insufficient geological information to estimate a true width for the drill intercepts reported.
Goldwedge Results:
26MN-115: This drill hole contains three significant intercepts hosted in both the Ordovician Zanzibar Formation and the Oligocene Volcanics of the Manhattan Caldera (See cross-section A-A' in Figure 2 and cross-section B-B' in Figure 3). The gold mineralization is focused into a structurally complex zone of faulted and brecciated limestones and limey mudstones of the Ordovician Zanzibar Formation on the hanging wall of the main contact fault separating the Paleozoic sediment package from the Manhattan Caldera Volcanics (See cross-section B-B' in Figure 3). The first and longest interval averages 3.02 g/t gold over 48.92 m from 118.87 m and is typical of the Goldwedge area in that it is generally composed of brecciated Zanzibar limestone and mudstone, with multiple small gouge zones as well as sulfide and quartz healed breccias that can be well mineralized with gold (See annotated core photos in Figure 5). The Goldwedge target zone is interpreted as a flower structure associated with the dextral strike/slip fault zone that juxtaposes the Paleozoic sediments of the Zanzibar and Gold Hill Formations against the much younger volcanic rocks of the Manhattan Caldera. This allows for many fluid pathways to the surface, resulting in high grade intercepts along the individual fault planes, enveloped by moderate grades in the surrounding breccia (See cross-section B-B' in Figure 3). The second interval averages 5.14 g/t gold over 10.15 m from 173.58 m and represents the main fault structure. Lenses of multiple rock types are entrained within the fault damage zone, including limestones and mudstones of the Zanzibar Formation, as well as ash tuff and lapilli tuff from the Manhattan Caldera volcanics. The third intercept lies entirely within the Manhattan Caldera Volcanics and averages 0.46 g/t gold over 16.70 m from 210.92 m downhole. This interval is structurally continuous with the neighboring drillhole 26MN-091 which contained 6.95 g/t gold over 11.98 m (see press release dated June 9, 2026) and represents a secondary structure running parallel to the main fault zone.
26MN-118: Drillhole 26MN-118 contains three notable gold intercepts hosted in both the Paleozoic meta-sediments of the Zanzibar and Gold Hill Formations, as well as the Volcanics of the Manhattan Caldera. The geology of this drillhole is very similar to the neighboring drillhole 26MN-115 discussed above, encountering the complex upward flaring structures that cut through the Goldwedge zone proximal to the main fault separating the sedimentary rocks southwest of the fault from the volcanic rocks to the northeast (Figure 3 and Figure 4). The first significant gold mineralization encountered in this drillhole averages 0.58 g/t gold over 9.60 m from 59.28 m with the highest grades in this interval being found in gouge zones in otherwise brecciated limestones and mudstones of the Ordovician Zanzibar Formation. The second interval is the most continuous and averages 1.19 g/t gold over 99.94 m from 98.61 m within brecciated limestones and mudstones of the Zanzibar formation, as well as altered siliciclastic sediments of the Cambrian Gold Hill Formation. Near the bottom of the interval there are clasts of Oligocene aged volcanics that have been entrained in the larger structural zone from the footwall country rock of the Manhattan Caldera. Throughout the interval, discrete structural zones are defined by stronger alteration and gouge, as well as elevated gold grades. In some cases, the breccias have been fully healed by a quartz/sulfide matrix and can contain high grade gold values (Figure 6). The final notable intercept occurs fully within the volcanic rocks of the Manhattan Caldera, along a subsidiary structure that is sub-parallel to the main contact fault. It averages 0.25 g/t gold over 8.14 m from 227.38 m downhole and appears to be continuous with both drillhole 26MN-115 and other neighboring drillholes at approximately 50m step outs from each other.
To view an enhanced version of this graphic, please visit:
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Figure 3. Cross-section B-B', showing gold grades with reported intervals highlighted and schematic of flower structure interpretation.
To view an enhanced version of this graphic, please visit:
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Figure 4. Plan view of Goldwedge target area and interpreted geology.
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Figure 5. Drill hole 26MN-115, interval 151.79 m to 158.50 m, displaying brecciated and altered meta-mudstones locally healed by quartz/adularia and fine-grained sulfide matrix.
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Figure 6. Drill hole 26MN-118, interval 178.00 m to 184.65 m, displaying brecciated and altered meta-mudstones and marbles locally healed by quartz/adularia and fine-grained sulfide matrix.
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Zanzibar Trend Results:
26MN-116: This drill hole contains three significant gold intercepts, all hosted within the Cambrian Gold Hill Formation. The first interval contained an average grade of 0.93 g/t gold over 22.16 m m from 95.71 m downhole. It is a hosted within alternating beds of meta-mudstones and dolomitic marbles crosscut by small scale structures that typically have moderate clay alteration along them. Proximal to the clay altered zones the host rocks are strongly silicified, containing dissolution vugs as well as drusy epithermal quartz veins. The second notable interval in this drillhole contained an average grade of 0.87 g/t gold over 4.05 m from 166.33 m downhole, and is geologically similar to the first intercept. The third significant intercept in drillhole 26MN-116 contained an average of 0.84 g/t gold over 25.05 m from 205.07 m and is notable for containing the same characteristics as the first two intercepts, with the addition of some quartz/sulfide healed breccia zones correlating to the higher grades in this drillhole. Results from this drillhole confirm that there are multiple controls on the gold mineralization at the Zanzibar Trend, specifically sub-vertical structures that are related to and generally parallel with the main fault separating the Paleozoic sediments and the Oligocene-aged Volcanics of the Manhattan Caldera, and the gently to moderately north-dipping bedding within the Zanzibar and Gold Hill Formations. Where these two controls intersect, strong gold mineralization can be found.
Moriah Results:
26MN-113: This was the first known drillhole at the Moriah Target, which is notable for the extensive historic workings in the area including large adits and deep shafts. Field mapping had identified the same prospective Zanzibar Limestones that are preferred gold hosts at Goldwedge and the Zanzibar Trend, as well as extensional faults and veining associated with the epithermal system seen elsewhere on the property. The drillhole did intersect prospective units and structure near the top of the hole, and moderate silicification and veining near the bottom, however significant gold mineralization was not encountered. Further work will be undertaken to interpret the geological information gathered from this drillhole to refine the targeting strategy at the Moriah target.
QA/QC
HQ sized diamond drill core samples were cut in halves, then bagged and secured with security tags to ensure integrity during transportation to the Elko, NV, MSALABS facility for preparation. For quality assurance ("QA"), unmarked coarse blanks, unmarked certified reference materials, and requested laboratory duplicates were inserted into the sampling sequence. QA samples were systematically inserted into each batch of samples, amounting to approximately 10% of the run of samples. Samples were analyzed for gold using a two-cycle PhotonAssayTM analysis method (~500 g) of crushed material (70% passing 2 mm). All MSALABS facilities comply with ISO 17025:2017.
About the Manhattan District
Manhattan, located in the Walker Lane Trend of Nevada, USA, is road accessible and lies approximately 20 kilometers south of the operating Round Mountain Gold Mine (https://www.kinross.com/operations/default.aspx#americas-roundmountain), which has produced more than 15 million ounces of gold. For the first time, the Company has consolidated Manhattan's past-producing mines under a single entity that holds valuable permitting and water rights. Historically, Manhattan has produced approximately 700,000 ounces of gold from high-grade placer and lode operations dating from the late 1890s through to the mid-2000s.¹ The maiden mineral resource estimate (the "Maiden MRE") covering the Goldwedge and Manhattan Pit areas of Manhattan is comprised of 18,343,000 tonnes grading 1.26 g/t gold for a total of 740,000 oz contained gold in the inferred category.²
A historical mineral resource estimate (the "Historical MRE") covers the Black Mammoth, April Fool, Hooligan, Keystone, and Jumbo areas of Manhattan and comprises 1,652,325 tonnes grading 5.89 g/t gold for a total of 303,949 oz contained gold.³ The deposit is interpreted as a low-sulfidation, epithermal, gold-rich system situated adjacent to the Tertiary-aged Manhattan caldera in the Southern Toquima Range of Nevada. A "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") has not done sufficient work to make the Historical MRE current, and the Company is not treating the Historical MRE as current.
Notes
Adjacent Properties: The Company has no interest in, or rights to, any of the adjacent properties mentioned, including the Round Mountain Gold Mine, and exploration results on adjacent properties are not necessarily indicative of mineralization on the Company's properties. Any references to exploration results on adjacent properties are provided for information only and do not imply any certainty of achieving similar results on the Company's properties.Historical Data: This news release includes historical information that has been reviewed by the Company's qualified person. The Company's review of the historical records and information reasonably substantiate the validity of the information presented in this presentation. The Company encourages readers to exercise appropriate caution when evaluating these data and/or results.Third-Party Mineral Projects: These deposits are cited solely for geological context. The Company cautions that these properties are not necessarily adjacent to, nor does the Company or have any interest in or control over them. Although certain geological features may be similar, there is no assurance that mineralization comparable to these deposits will be discovered on any of the Company's properties. Information regarding the aforementioned deposits is taken from publicly available sources and technical reports believed to be reliable but has not been independently verified by the Company. The Company encourages readers to exercise appropriate caution when evaluating these data and/or results.Mineral Resource Estimate (MRE): All scientific and technical information relating to Manhattan pertaining to Maiden MRE contained in this news release is derived from the Technical Report dated April 23, 2026 (with an effective date of June 4, 2025) titled "Mineral Resource Estimate and NI 43-101 Technical Report" (the "Technical Report") prepared by Matthew R. Dumala, P.Eng (BC) of Archer Cathro Geological (US) Ltd., Patrick Loury, M.Sc., CPG (AIPG) of Daniel Kunz & Associates, Annaliese Miller, LG (WA) of Geosyntec Consultants, Inc. and Art Ibrado, PhD, PE (AZ) of Fort Lowell Consulting PPLC. The information contained herein in respect of the Maiden MRE is subject to all of the assumptions, qualifications and procedures set out in the Technical Report and reference should be made to the full text of the Technical Report, a copy of which has been filed with the applicable securities regulators and is available under the Company's profile on www.sedarplus.ca.Historical MRE: A Qualified Person has not done sufficient work to make the Historical MRE current, and the Company is not treating the Historical MRE as current.The Company considers the Historical MRE relevant as it demonstrates the presence of significant gold mineralization across multiple zones within Manhattan; however, its reliability is uncertain because it was prepared prior to the adoption of the current CIM Definition Standards and current QA/QC practices. The Historical MRE provides limited disclosure of assumptions, parameters, estimation methods, cutoff grades, and QA/QC protocols, and therefore these cannot be fully verified by the Company. The categories used in the historical estimate predate, and are not directly comparable to, current CIM Definition Standards, and the Company is not treating the Historical MRE as a current Mineral Resource Estimate. To upgrade and verify the Historical MRE in order to make it a current Mineral Resource Estimate, the Company would be required to undertake confirmatory drilling, modern QA/QC sampling, validation and digitization of historical datasets and updated geological modeling followed by the preparation of a new Mineral Resource Estimate in accordance with CIM Definition Standards and NI 43-101. The Company encourages readers to exercise appropriate caution when evaluating the Historical MRE.
All scientific and technical information relating to Manhattan pertaining to the Historical MRE contained in this news release is derived from the Technical Report dated May 1997 titled "Exploration and Pre-Production Mine Development, Manhattan District Project, Nye County" (the "Historical Technical Report") prepared by New Concept Mining, Inc. The information contained herein in respect of the Historical MRE is subject to all the assumptions, qualifications and procedures set out in the Historical Technical Report and reference should be made to the full text of the Historical Technical Report.
References: (1) Strachan, D. G., and Master, T. D., 2005: Update and Revision of the Gold Wedge Project Development, Nye County. Report prepared for Nevada; Royal Standard Minerals, Inc. and dated March 31, 2005; (2) Dumala, M. R., and Lowry, P., 2025: Mineral Resource Estimate and NI 43-101 Technical Report, Manhattan Property, Nye County, Nevada. Report prepared for Scorpio Gold Corporation and dated October 23, 2025 (with an effective date of June 4, 2025); and (3) Berry, A., and Willard, P., 1997: "Exploration and Pre-Production Mine Development, Manhattan District Project, Nye County". Report prepared for New Concept Mining, Inc. and dated May 1997. Qualified Person
The scientific and technical information in this news release has been reviewed, verified and approved by Leo Hathaway, P. Geo., Executive Technical Director of Scorpio Gold, a "Qualified Person", as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects. Verification included review of laboratory certificates, review of field logs and chain-of-custody records, inspection of blank/standard/duplicate performance, and review of collar and down-hole survey data. No limitations or failures to verify were identified.
About Scorpio Gold Corp.
Scorpio Gold holds a 100% interest in the Manhattan District located in the Walker Lane Trend of Nevada, USA. Scorpio Gold's Manhattan District is ~4,780-hectares and comprises the advanced exploration-stage Goldwedge Mine, and four past-producing pits that were acquired from Kinross in 2021 (see news release dated March 25, 2021 https://scorpiogold.com/news/scorpio-gold-closes-purchase-of-kinross-manhattan-property-nye-county-nevada/). The consolidated Manhattan District presents an exciting late-stage exploration opportunity, with over 140,000 metres of historical drilling, significant resource potential, and valuable permitting and water rights.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Connect with Scorpio Gold:
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(NASDAQ: SGLD) (TSXV: SGLD) (FSE: RY9)
Forward-Looking Statements
This news release contains statements that constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"). Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management as of the date of this news release.
Forward-looking statements in this news release include, among others, statements relating to: the timing, scope and interpretation of assay results; potential for resource growth and discovery; the potential continuity, extent, grade and characteristics of mineralization along the Reliance Trend, Black Mammoth, Gap Zone, Zanzibar Trend and Mustang Hill; the intended follow-up exploration activities and timing thereof; the Company's exploration plans and objectives; expected future drilling programmes; anticipated timing of future disclosures and announcements; and other statements that are not historical facts. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including: that the Company will be able to obtain sufficient financing to complete planned exploration activities; that the Company will be able to obtain necessary permits and regulatory approvals in a timely manner; that exploration results will be consistent with management's expectations; that general business and economic conditions will not change in a materially adverse manner; that equipment and qualified personnel will be available when required; and that the Company's interpretations of geological data are accurate. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations, which may not be available when needed or on acceptable terms and conditions; the inherent risks involved in the exploration and development of mineral properties, including uncertainties related to the interpretation of drill results and other geological data; fluctuations in commodity prices; compliance with extensive government regulation and changes in domestic and foreign laws and regulations that could adversely affect the Company's business and results of operations; uncertainties related to obtaining necessary permits and regulatory approvals; risks related to the Company's ability to retain key personnel; environmental risks and hazards; title matters and surface rights issues; competition in the mining industry; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company's securities, regardless of its operating performance; and other risks and uncertainties disclosed in the Company's public filings.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/312506
Source: Scorpio Gold Corp
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In February, Nebius Group (NBIS -3.29%) told investors to expect more than 3 gigawatts (GW) of contracted power by the end of 2026. In May, the target became more than 4 GW. In August, alongside second-quarter results, the artificial intelligence (AI) cloud provider raised it again, to 5 GW.
Contracted power is the raw material of Nebius' business. It's the electricity capacity the company has secured for data centers that rent out graphics processing units (GPUs). Three raises in six months say the company keeps finding more of it, faster than it expected. That escalation has my attention.
Nebius carries a market value of about $56 billion, with shares just above $200 as of this writing. Its revenue over the past 12 months was about $1.4 billion.
What does 5 GW of power have to earn to justify a price like that?
Image source: Getty Images.
Three raises in six monthsThe escalation is the company's own, laid out in its August shareholder letter. A year ago the target was more than 1 GW. It became more than 2.5 GW in November, more than 3 GW in February, more than 4 GW in May, and 5 GW now.
The business underneath is scaling almost as fast.
Second-quarter revenue grew 454% year over year to $582.3 million, with the core AI cloud business contributing about 98% of the total. Annualized run-rate revenue reached $3.0 billion at the end of June -- up 598% year over year, and up 56% from $1.9 billion just three months earlier.
Profitability is arriving with scale, too. The AI cloud business produced an adjusted EBITDA margin of 50% in the quarter, up from 45% in the first quarter and 24% in the fourth quarter of 2025. Companywide, adjusted EBITDA swung to a positive $236 million from a loss a year earlier. (EBITDA is earnings before interest, taxes, depreciation, and amortization.)
Each megawatt is worth more than it used to beNebius closed four landmark deals in the second quarter, averaging more than $1 billion in total contract value, with AI developers Reflection and Cohere among the customers. The company said those deals carry annual contract value of $20 million to $25 million per megawatt.
That is up from about $12 million per megawatt on its 2026 base of business. And early third-quarter short-term capacity deals are pricing above $40 million per megawatt. All told, the company counts $40 billion in customer commitments.
So what could the full target earn? If Nebius eventually deployed all 5 GW (5,000 megawatts) and sold it at even the older $12 million rate, the implied revenue would be about $60 billion a year. At the second quarter's deal prices, the figure could be far higher.
Against a $56 billion market value, that is the bull case in one calculation.
The capacity can't arrive all at onceHowever, contracted power is not deployed power, and deployed power is what generates revenue. Nebius says it plans to bring more than 1 GW of capacity online per year starting in 2027. At that pace, turning 5 GW of contracts into running data centers is a project that can stretch toward the end of the decade.
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The spending, meanwhile, is immediate. Nebius spent $5.7 billion on property and equipment in the second quarter alone, and management expects $20 billion to $25 billion of capital expenditures for the full year. The company still runs at an operating loss ($176 million in the second quarter), and its quarterly depreciation and interest costs are climbing fast as the build-out compounds.
Of course, customer prepayments help. The company expects more than $9 billion of them in 2026, and prepayments covered 50% to 60% of the capital spending tied to recent deals. The capital markets supply much of the rest, including a convertible note sale that closed in August with about $5.75 billion of gross proceeds. But the model still consumes enormous amounts of money before it returns any.
Even so, management reaffirmed its full-year guidance, including revenue of $3 billion to $3.4 billion and a year-end run-rate target of $7 billion to $9 billion. Hit the top of that range, and today's market value works out to about six times year-end run-rate revenue. For growth like this, that's arguably a fair price. But it leaves no room for deployment delays, softer GPU pricing, or a pause in AI spending.
I believe the contracts will become revenue -- the customers are signed, and the price per megawatt keeps rising. Still, most of those megawatts won't produce a dollar until 2027 or later, and the building costs land now. I'm watching Nebius closely, but I'm not buying shares yet.
Target has sprinted past Walmart, Costco, and the broader market this year, but analyst consensus sits below the current share price and the majority verdict is hold. Find out what earnings milestone and category comeback Target actually needs to clear…
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A single-name re-rating inside big-box retail has driven Target far ahead of both the sector and the S&P 500 this year. The SPDR S&P Retail ETF (NYSEARCA:XRT) was down 0.1% year to date to $85.86, going essentially nowhere. Meanwhile, the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) was up 12% year to date, comfortably higher but nowhere near Target’s league.
Target (NYSE:TGT | TGT Price Prediction) stock was up 66% year to date through Monday’s close. Notably, Target shares are up 0.8% to $162.15 this afternoon, extending a run that has taken the stock roughly to a double off its 52-week low of $81.20.
A path to $200 will be challenging, to say the least. After the 66% run, the average analyst price target already sits below the current share price, and 23 of the 38 analysts covering the stock rate it Hold. That combination reads more like a stock that has priced in the good news than one gathering steam for another leg higher.
What Drove the 66% Run Two forces did the work. Target’s year-over-year earnings growth was 100.5%, which qualifies as strong earnings acceleration and gave the fundamentals a real footing (we studied a batch of recent runners most investors walked past and pulled out the pattern in a free report). Pair that with the 52-week low of $81.20 and much of this year’s move looks like a recovery from a depressed starting valuation rather than fresh optimism about the retail business.
Target’s Q2 FY2027 report on August 19 sealed the shift. The company reported adjusted EPS of $4.11 against a $2.34 estimate, with revenue of $26.5 billion up 5.3% year over year, comparable sales up 3.8%, and store traffic up 3.6%. Management raised full-year adjusted EPS guidance to a range of $9.90 to $10.90, which includes a $1.65 tariff-refund benefit recognized in Q2.
Walmart Divergence Tells the Real Story Walmart (NYSE:WMT) stock has provided the cleanest evidence that the Target rally was rotation inside big-box retail rather than a sector-wide bid. The stock was down 5% year to date, a striking split from Target inside the same big-box category. Capital shifted between the two names rather than lifting the group, and the roughly unchanged retail ETF backs that interpretation.
At the same time, Costco Wholesale (NASDAQ:COST) stock was up 9% year to date, a respectable move that still trailed Target by a wide margin. Retail sentiment on Target now leans bullish, but that is a supporting observation rather than a driver of the fundamental story. The retail complex as a group, tracked by the XRT fund, has essentially gone nowhere, which underscores the name-specific nature of the Target move.
What It Takes to Reach $200 Target stock trades at $162.15 against a 52-week high of $170.75. The average analyst price target sits at $161.62, which is below the current share price. Ratings break down as 2 Strong Buy, 10 Buy, 23 Hold, no Sell, and 3 Strong Sell, so the majority verdict is hold-and-see.
Target’s forward EPS of $8.94 puts the implied P/E ratio at 19x. 24/7 Wall St.’s price model sets a one-year base case of $173.32, an optimistic case of $181.42, and a conservative case of $143.25. Even the optimistic one-year case falls short of $200.
The five-year TGT stock price target from that same model is $215.82, with a five-year optimistic case of $228.28, so $200 clears on a multi-year horizon rather than this year. Analyst fiscal year 2027 EPS estimates average $8.10 with a high end of $10.77, and fiscal year 2028 estimates average $9.50. Even the high-end fiscal year 2028 estimate would need a forward multiple in the high teens to justify TGT at $200 per share.
Home and apparel remain underperforming categories, which management flagged as multi-year work rather than a single-quarter fix. Both are high-margin businesses, and their eventual recovery is the earnings lever most likely to sustain a re-rating from here. Without that lever, Target stock has less room to keep expanding its multiple.
What to Watch The easy part of the recovery has already happened. Analyst consensus says so, the 24/7 Wall St. base case says so, and Target stock is already trading above the average price target with room for disappointment if execution slips in home or apparel. Getting to $200 from here requires the earnings acceleration to persist for years rather than quarters.
Investors can watch for whether upward EPS revisions continue into the October quarter, where 7 upward revisions and no downward revisions have already come through in the past 30 days. Target’s next earnings report will test whether the recent guidance raise holds. Shareholders should size their positions carefully given how much re-rating has already been priced in and how thin the analyst enthusiasm remains at these levels.
Contact [email protected] for any questions or corrections.
Toronto, Ontario--(Newsfile Corp. - September 1, 2026) - Stakeholder Gold Corp. (TSXV: SRC) (OTCQX: SKHRF) (WKN: A2QEP1) ("Stakeholder" or the "Company") is pleased to report the final diamond drill assay results for hole BA2601, completing a fully mineralized 498-metre discovery hole at the Loki Critical Mineral Zone on its 100%-owned Ballarat Gold-Copper Project ("Ballarat") in the prolific White Gold District of the Yukon Territory. Stakeholder also reports significant results from the three-dimensional (3D) inversion modelling of the Company's VTEM (electromagnetic) and magnetic geophysical data over the Loki area (Figures 1–4).
The newly received assays cover the upper (1–226 m) and lower (451–498 m) portions of hole BA2601, completing the full 498-metre hole and confirming mineralization throughout. The additional data show that copper-nickel-cobalt and platinum-group-element (PGE) mineralization extends through much of the upper hole, hosted in the same mineralized pyroxenite intrusion reported in the central interval on August 18, 2026. New and previously released intervals are summarized in Table 1; the property and the location of hole BA2601 are shown in Figure 1, and the completed hole in cross-section in Figure 2.
Highlights
Full hole completed – mineralized top to bottom: Final assays complete the 498-metre hole (BA2601), confirming broad mineralization through the upper hole and materially extending the copper-nickel-cobalt-PGE system defined in the initial (226–451 m) release.
Standout upper-hole copper-nickel-cobalt grades: New intervals underscore the strength of the system, including 3 m at 110–113 m of 1,650 ppm Cu, 266 ppm Ni and 127 ppm Co (including 1 m at 111–112 m of 2,390 ppm Cu), 13 m at 91–104 m of 670 ppm Cu, 2 m at 133–135 m of 1,020 ppm Cu, and 1 m at 141–142 m of 1,180 ppm Cu.
Compelling platinum-palladium credits: The upper hole delivered 2 m at 98–100 m of 316 ppb Pt+Pd and 3 m at 141–144 m of 191 ppb Pt+Pd (including 2 m of 252 ppb Pt+Pd), directly associated with the copper-nickel-cobalt mineralization.
3D inversions define a major new target: Independent 3D inversions of the VTEM and magnetic data confirm BA2601 was collared in a large, coincident magnetic and resistive body – interpreted as the mineralized ultramafic intrusion – while a separate, ~1.45 km² conductive zone lies just ~1.4 km to the south, representing a compelling, entirely untested geophysical target for follow-up.
Figure 1. Plan-view property map showing the location of hole BA2601, Loki Critical Mineral Zone
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3082/312258_6bd12804c4ad7ba5_001full.jpg
Hole BA2601 was drilled to 498 metres to test the Loki Critical Mineral Zone, and with the newly received upper- and lower-hole assays, the hole is now complete and confirms mineralization from end to end. Mineralization occurs as disseminated, blebby and locally net-textured to massive magmatic sulphides (pyrrhotite, pentlandite and chalcopyrite) within a broad pyroxenite intrusion, and the additional assays demonstrate that anomalous copper, nickel and cobalt, together with platinum and palladium, continue through much of the upper hole. Selected newly reported intervals are summarized in Table 1; the previously released central interval (226–451 m, reported August 18, 2026) is indicated on the cross-section in Figure 2.
Figure 2. Cross-section of completed hole BA2601, Loki Critical Mineral Zone – previously released interval indicated
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https://images.newsfilecorp.com/files/3082/312258_6bd12804c4ad7ba5_002full.jpg
ZoneFrom
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(ppb)Pd
(ppb)Pt+Pd
(ppb)Cu-Ni-Co sulphide zone3133287410368121628Cu-Ni-Co sulphide zone8084478014396231537PGE zone8285363418234383877Cu-Ni-Co sulphide zone911041367017645392866PGE zone98100265226540182134316Cu-Ni-Co sulphide zone11011331,650266127232043including11111212,390412158262349Cu-Ni-Co sulphide zone116127115822474213Cu-Ni-Co sulphide zone13313521,02016172272855PGE zone133134180216463434790Cu-Ni-Co sulphide zone14114211,18017660200176376PGE zone14114435871224410289191including141143281014951134118252* Cu-Ni-Co sulphide zone25426061,190159123161934* including25825913,7306415144456100* PGE zone32332631949426474390* including324325122988236258120* PGE zone38038554633115842100* including3803811100182011865183Cu-Ni-Co sulphide zone47147218241625213Table 1: BA2601 intercepts at cut-offs of 500 ppm Cu (copper zones) and 50 ppb Pt+Pd (PGE zones); "including" sub-intervals at 2,000 ppm Cu / 100 ppb Pt+Pd. An asterisk (*) marks intervals between 226 and 451 m that were previously released on August 18, 2026; all other intervals are newly reported. Grades are length-weighted averages; copper, nickel and cobalt in ppm and platinum and palladium in ppb. Reported intervals are drill-core lengths; true widths are not yet determined.
3D Geophysical Inversion Results Define a Major New Target
The Company has received preliminary results from independent three-dimensional inversions of its airborne VTEM (versatile time-domain electromagnetic) and airborne magnetic datasets over the Loki area. The magnetic susceptibility inversion resolves a large, coherent magnetic body at Loki, into which hole BA2601 was collared, and the VTEM resistivity inversion shows this same body is relatively resistive – a signature consistent with a sulphide-bearing ultramafic intrusion. The preliminary 3D models are shown in Figure 3.
Figure 3. 3D inversion models of the Loki Critical Mineral Zone: (a) VTEM resistivity and (b) magnetic susceptibility, with hole BA2601 in both
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3082/312258_6bd12804c4ad7ba5_003full.jpg
In plan view, the magnetic and resistive Loki body is spatially distinct from a ~1.45 km² conductive zone that the VTEM inversion places approximately 1.4 kilometres to the south (Figure 4) – opening up a second, entirely untested target within the system. The coincident magnetic-resistive signature at Loki is consistent with a sulphide-bearing ultramafic intrusion, while the separate southern conductor represents a discrete, untested geophysical target for future drill testing.
Figure 4. Plan-view depth slices from the 3D inversions: (a) VTEM resistivity at 150 m and (b) magnetic susceptibility at 200 m below surface
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3082/312258_6bd12804c4ad7ba5_004full.jpg
"Our first drill hole into Loki confirms a large ultramafic intrusion carrying copper, nickel, cobalt and platinum and palladium - a critical mineral suite found on almost all the world's critical mineral lists," stated Christopher Berlet CEO and Director of Stakeholder.
"Geophysics has now also confirmed that large, untested conductive anomalies are located nearby and within the intrusive structure itself. Our next steps are to: refine the geophysical targets that have already been identified, drill test the conductive anomalies found near to our first metal discovery hole and continue the work required to identify similar structures along the full 35-km trend of the Loki ultramafic intrusion which is found on the southern section of Stakeholder's 100% titled land position in the center of the rapidly evolving White Gold District."
Sampling and Quality Assurance / Quality Control
Drill core from hole BA2601 was logged, photographed and sampled at the core facility in Dawson, Yukon, where the core was sawn in half and one half was submitted for analysis at one-metre sample intervals. Samples were sent to the Bureau Veritas (BV) preparation laboratory in Whitehorse, Yukon, where they were crushed, and a split was pulverized to 85% passing 200 mesh.
At the BV laboratory in Vancouver, British Columbia, platinum, palladium and gold were determined by 30-gram fire assay with an ICP-ES finish (BV method FA350), and copper, nickel, cobalt and additional elements by 1:1:1 aqua-regia digestion with an ICP-ES/MS finish (BV method AQ201). Bureau Veritas Commodities Canada Ltd. is an ISO/IEC 17025-accredited laboratory that is independent of the Company. As part of its quality-assurance / quality-control program, the Company inserts certified reference materials (standards), blanks and duplicate samples into the sample stream and reviews all quality-control results upon receipt of assays.
Adam Fage, M.Sc., P.Geo. states:
"The completed BA2601 assays confirm that copper, nickel and cobalt, together with platinum and palladium, extend through a broad interval of the Loki ultramafic intrusion rather than being confined to a single zone. Coincident 3D magnetic and resistivity models show the intrusion is a large, discrete body, and the separate conductor to the south gives us a second, independent target. Our focus now is to use these results to vector toward higher-tenor sulphide accumulations within the system."
Adam Fage MSc., P.Geo is an independent geological consultant and the Qualified Person for the Company, as defined by NI 43-101, and has reviewed and approved the contents of this press release.
About Stakeholder Gold Corporation
Stakeholder holds 100% ownership of a substantial 1,140-claim, 22,700-hectare land package spanning 20 km of the Coffee Mine Project's "Northern Access Route (NAR)", positioned through the geographical center of the dynamic White Gold District of the Yukon Territory, Canada. Stakeholder also maintains in good standing 10 claims located inside the adjacent Coffee Mine Project, which is being developed by Talamore Mining Corp. These combined claim holdings are referred to collectively as the Ballarat Gold-Copper Project ("Ballarat").
Within its extensive contiguous claim holdings, Stakeholder is advancing exploration on two highly compelling exploration targets - the Skye Gold Zone and the Loki Critical Mineral Zone - two independent exploration targets separated by some 8 km, prospective for new gold and critical mineral discoveries respectively, on either side of the Northern Access Route (NAR), in the heart of the White Gold District.
Stakeholder also generates recurring cash flow from the production and sale of exotic stones through its 100%-owned Brazilian subsidiary Mineração VMC Ltda. ("VMC"). VMC is currently producing from 4 independent stone quarries and is actively pursuing opportunities to expand the sale and export of exotic stone building materials from Brazil.
https://victoriaminingcorp.ca
Christopher J. Berlet B.A.Sc.(Mining), CFA, CEO & Director of Stakeholder is responsible for the content of this press release.
Forward-Looking Information
This news release contains forward-looking information. All information, other than information of historical fact, constitute "forward-looking statements" and includes any information that addresses activities, events or developments that the Corporation believes, expects or anticipates will or may occur in the future including the Corporation's strategy, plans or future financial or operating performance.
When used in this news release, the words "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may" and similar expressions, as well as "will", "shall" and other indications of future tense, are intended to identify forward-looking information. The forward-looking information is based on current expectations and applies only as of the date on which they were made. The factors that could cause actual results to differ materially from those indicated in such forward-looking information include, but are not limited to, the ability of the Corporation to fund the exploration expenditures required under the Agreement. Other factors such as uncertainties regarding government regulations could also affect the results. Other risks may be set out in the Corporation's annual financial statements, MD&A and other publicly filed documents.
The Corporation cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information. Except as required by law, the Corporation does not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/312258
Source: Stakeholder Gold Corp.
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Vancouver, British Columbia--(Newsfile Corp. - September 1, 2026) - Eureka Metals Corp. (CSE: ERKA) (OTCQB: UREKF) (FSE: S580) ("Eureka" or the "Company") is pleased to announce plans for an initial eight-hole drill program at the Hook Target on its KM98 Project ("KM98" or the "Project"), located approximately 60 km north of Havre-Saint-Pierre, Québec.
The program will drill from four approved drill sites, with individual holes planned to a maximum depth of approximately 200 m, to determine whether the large geophysical targets identified beneath and between known surface occurrences represent extensions or additional bodies of the titanium-bearing oxide mineralization identified at surface.
Highlights:
High-grade titanium mineralization at surface: Sampling at the North area returned up to 28.50% TiO₂, 66.31% Fe₂O₃ and 2,085 ppm vanadium from massive oxide mineralization.Drilling to test an approximately 5 km prospective trend: The Hook Target combines titanium-bearing massive and semi-massive oxide mineralization at surface with large geophysical targets beneath and between the known occurrences.Large, untested Center target: 3D magnetic inversion modelling indicates a sizeable magnetic body between the mineralized North and South areas, extending from near surface to depth and not previously tested by drilling.Eight-hole initial drill program: Eight holes from four approved drill sites are planned to test known surface mineralization and the larger targets identified by geophysics.First subsurface test of Hook: Drilling will begin testing the potential scale and geometry of oxide mineralization beneath the Hook Target and provide information to refine future drilling."Hook gives us an opportunity to test whether the high-grade titanium mineralization we have identified at surface is part of a much larger mineralized system at depth," said Danny Matthews, Chief Executive Officer of Eureka Metals. "We have titanium-bearing massive oxide mineralization at multiple locations along an approximately 5 km prospective trend and a large, untested geophysical target between the known surface occurrences. With our first drill program at Hook, we are now moving from surface discoveries and geophysical targets to directly testing the potential scale of the system below surface."
Figure 1: Hook Target showing the approximately 5 km prospective trend defined by magnetic and electromagnetic geophysics, known surface mineralization and proposed drill locations.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9639/312362_b6167414b40a68cb_001full.jpg
Hook Target
Prospecting at Hook in 2024 identified titanium-bearing massive and semi-massive oxide mineralization at the North and South areas. At North, a grab sample of massive oxide containing greater than 65% visually estimated mineralization returned 28.50% TiO₂, 66.31% Fe₂O₃ and 2,085 ppm vanadium.
Airborne geophysical data and subsequent 3D magnetic inversion modelling indicate substantially larger targets beneath and between the known surface occurrences. In particular, the Center area contains a sizeable magnetic target extending from near surface to depth. Center has no surface assay results or bedrock observations and has never been drill tested.
The initial drilling will test beneath known surface mineralization as well as the Center target to begin determining how the mineralization observed at surface relates to the larger geophysical footprint at depth.
Figure 2: Proposed diamond drill holes at the North and South areas plotted on a 3D magnetic vector inversion (MVI) model from the 2023 AirTEM survey.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9639/312362_b6167414b40a68cb_002full.jpg
Initial Drill Program
The current drill plan consists of eight proposed holes from four approved drill sites across the South, Center and North areas. Individual holes are planned to maximum depths of approximately 200 m.
Drilling is expected to begin in areas where titanium-bearing massive and semi-massive oxide mineralization has already been identified at surface before progressing to the Center target. The program is designed to test whether the large geophysical targets correspond to massive oxide bodies beneath surface and, where mineralization is encountered, begin establishing its thickness, orientation and composition.
Drill targeting is being refined using the Project's magnetic and electromagnetic geophysical datasets. Magnetic susceptibility and conductivity measurements are also planned on drill core to correlate the geology encountered in drilling with the airborne geophysical responses and assist in refining future drill targets.
Final hole depths, orientations, sequencing and total metres completed may be adjusted based on geological observations, drilling performance and the available operating window.
KM98 Exploration Program
The Hook drill program follows the Company's recently announced stripping and channel sampling program at the Roadside Target. Roadside and Hook are separate exploration targets, with Hook representing the Company's priority drill target at KM98.
Site preparation is underway, with drill mobilization anticipated in early September. The Company will provide a further update once drilling has commenced.
About the KM98 Project
The KM98 Project is located approximately 60 km north of Havre-Saint-Pierre, Québec, within the Havre-Saint-Pierre Anorthosite Complex. The Project hosts multiple titanium-iron-vanadium exploration targets associated with oxide mineralization identified through historical exploration, airborne geophysics and surface sampling.
Eureka holds an option to acquire an interest in the KM98 Project pursuant to the terms previously disclosed by the Company.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Ryan Versloot, P.Geo., a technical advisor to the Company and a Qualified Person as defined under National Instrument 43-101. The Company has not independently verified all historical exploration data generated by previous operators and referenced in this news release.
About Eureka Metals Corp.
Eureka Metals Corp. is a Canadian mineral exploration company focused on the acquisition and advancement of exploration projects in Canada. The Company holds a 100% interest in the Tyee Titanium Project in Québec, prospective for titanium-vanadium-scandium mineralization; an option to acquire up to an 80% interest in the KM98 Titanium Project in Québec; and an option to acquire a 100% interest in the Cabin Lake Polymetallic Project in British Columbia, prospective for silver-lead-zinc-gold mineralization.
Forward-Looking Statements
Certain statements contained in this news release, including statements relating to the proposed drill program at the KM98 Project, anticipated drill mobilization, proposed drill locations, orientations, depths and sequencing, the amount of drilling that may be completed, the objectives of the drill program, interpretations of geophysical data, the potential relationship between geophysical targets and surface mineralization, and the Company's future exploration plans, constitute forward-looking information within the meaning of applicable securities laws.
Such forward-looking statements reflect management's current expectations and are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the Company's forward-looking statements. The Company undertakes no obligation to update forward-looking statements except as required by applicable securities laws.
The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/312362
Source: Eureka Metals Corp.
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Investors have written off Target (TGT -1.41%) over the last few years as sales stumbled and reputational damage has taken its toll. But the retail giant's comeback is well underway, and there is one reason in particular that Target is worth a second look this month.
What's got investors talking is that Target raised its full-year outlook, and the comeback is in full swing as we head into the holiday shopping season. The guidance raise is significant for a few reasons.
First, it shows that the company is confident its turnaround is not only taking hold, but picking up steam. Second, Target anticipates net sales growth of around 5%, which is an entire percentage point higher than the previous guidance. Lastly, Target is trading at a very reasonable price right now, especially compared to its longer-term history.
Image source: The Motley Fool.
What Target can't afford at the moment is more missteps. A highly controversial Halloween costume was recently pulled from shelves, leading to more calls to boycott. The easily avoidable mistakes need to stop if Target wants to bring back customers for good.
Ultimately, Target's turnaround is for real, and you can see it in its latest numbers. The stock hasn't quite caught up yet, which is why Target is worth a closer look this month.
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Target's stock has risen about 65% thus far in 2026, but is still down more than 34% over the past five years. As we approach the holiday shopping season, Target has a real opportunity to climb back to its previous peak. It just can't afford any more face-palm trip-ups.
Catie Hogan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Target. The Motley Fool has a disclosure policy.
Target is expanding its push into higher-end beauty with a new specialty-style concept that the retailer says is part of its broader effort to return to growth.
The Minneapolis-based retailer said Target Beauty Studio will launch Sept. 10 in more than 600 stores nationwide and on Target.com, bringing together more than 1,600 products from 90 prestige, emerging and international brands. More than two-thirds of the brands will be new to Target.
The rollout represents a notable expansion of Target's beauty assortment while adding features more commonly associated with specialty beauty retailers, including dedicated beauty advisers, product testing, rotating product showcases and personalized recommendations.
Target Beauty Studio will launch Sept. 10 in more than 600 stores. (David Paul Morris/Bloomberg via Getty Images)
Target said the new concept is one example of the investments it is making in merchandise and the in-store shopping experience as part of its plans to return to growth. The company operates more than 2,000 U.S. stores.
WALMART AGREES TO PAY $50M SETTLEMENT OVER ALLEGATIONS ITS PHARMACIES FILLED ILLEGAL OPIOID PRESCRIPTIONS
"When guests shop for beauty, they want to pick up their standbys while also exploring what's new and trending, and Target Beauty Studio is designed with that mix in mind," Amanda Nusz, Target's senior vice president of merchandising, essentials and beauty, said in a statement. "It's an inspiring destination to discover what's new, now and next in beauty — and a powerful example of how our merchandising authority comes to life through an elevated guest experience."
Ticker Security Last Change Change % TGT TARGET CORP. 163.18 -2.75 -1.66% The assortment will span skincare, makeup, haircare, fragrance, bath and body products, nail care and sun care. Brands joining Target include Sunday Riley and First Aid Beauty in skincare, Briogeo and Nioxin in haircare and several Korean beauty brands, including Amuse, Kaja and Rom&nd.
The announcement comes after the retailer concluded its shop-in-shop partnership with Ulta Beauty. The partnership rolled out in August 2021 and ended this month.
The assortment will span skincare, makeup, haircare, fragrance, bath and body products, nail care and sun care. (Michael Nagle/Bloomberg via Getty Images)
Target is also adding products from international brands, including Mexican beauty company SARELLY and French nail care brand Manucurist, while offering premium fragrances, styling products, sun care and self-tanning products.
Stores with Target Beauty Studio will feature a central display that rotates several times a year to highlight brands, collaborations and seasonal products. The retailer will also offer a dedicated assortment of miniature products designed to give shoppers a lower-cost way to try new items.
Target is also adding products from international brands. (Scott Olson/Getty Images)
The company is tying the concept to its Target Circle loyalty program through exclusive offers and experiences. Target said the first 100 guests at most stores during a Sept. 26 promotional event will receive a Target Circle bonus that can be used to shop Beauty Studio in stores and online.
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Target said Beauty Studio will continue to evolve with new brands and products, while its existing beauty assortment will remain alongside the new concept.
PARK CITY, Utah--(BUSINESS WIRE)-- #Creatine--Momentous, a leading human performance company that focuses on making the highest quality supplements, today announced the nationwide launch of its products with Target (NYSE: TGT). As part of an active nationwide rollout, select Momentous products are now available on shelves in nearly 600 Target locations across the United States with exclusive end-cap displays, as well as online at Target.com, ahead of a full expansion into all Target stores this October. Th.
Hyperliquid Strategies Inc. (NASDAQ:PURR) had a busy week last week that included blockbuster fiscal-year earnings alongside some analyst activity.
Hyperliquid Strategies shares are climbing with conviction. Why are PURR shares rallying? Reports Earnings Beat, Expands HYPE Treasury, Gains Market ShareHyperliquid Strategies reported quarterly earnings of $6.24 per share, beating the analyst consensus estimate of 79 cents by 689.87%. The company reported quarterly sales of $6.334 million, beating the analyst consensus estimate of $3.0 million by 111.13%.
The company raised $647 million in equity capital during the fiscal year and grew its HYPE token treasury from an initial 12.5 million to 29.3 million tokens. Since June 30, the company deployed an additional $773.4 million to acquire roughly 16.5 million more HYPE tokens at an average cost of $46.77, leaving $132.6 million in cash as of Aug. 19.
“This was the year we built the platform,” said CEO David Schamis. “Most of the value that is created is returned to HYPE holders through programmatic buybacks.”
Hyperliquid’s share of global perpetual futures volume hit an all-time high of 9.4% as of June 30, with the platform accounting for 63% of all decentralized perpetuals open interest as of Aug. 23 — more than five times its nearest competitor.
Analyst Consensus & Recent Action The stock carries a Buy rating with an average price forecast of $15.13. One recent analyst move includes:
Chardan Capital: Buy (Raises Target to $17.00) (Aug. 28) Read Next
Hyperliquid Shares Trade HigherPURR Price Action: At the time of publication, Hyperliquid shares are trading 0.17% higher at $11.63, according to data from Benzinga Pro.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Target (TGT -1.66%) has an incredible dividend history, with 50 consecutive annual dividend increases. That makes it a Dividend King, an elite group that not every company can join. Target has a strong business model that is executed well in both good times and bad. The company is currently working its way out of a bad time, but after gaining 66% in 2026, as of this writing, is there still any value left in the shares?
What went wrong with Target? Target is a mass-market retailer, but it tends to focus on offering a higher-quality shopping experience. That generally means nicer stores, a more pleasant shopping environment, and higher prices than those of its main peer, Walmart (WMT +0.45%), which has an everyday low-price focus. As elevated inflation levels pressured consumers' budgets, Target was out of step with the market.
Image source: Getty Images.
As consumers shifted to lower cost competitors, its revenues and earnings fell. Investors dumped the stock with such vigor that it seemed to suggest a belief that Target would never be able to adjust. At one point, the stock was down nearly 70% from its 2021 high. But a company doesn't join the ranks of Dividend Kings by accident, and the retailer got to work on a turnaround plan. That plan began to bear fruit in 2026, leading to renewed market interest in the stock. In the first quarter, sales rose 6.7%, with same-store sales up 4.4%. The second quarter proved that it wasn't a fluke, with sales up 5.3% and same-store sales rising by 3.8%.
Does Target have more room to run? That 66% price advance is a very big move in a very short period of time. In fact, it has pushed the company's price-to-sales and price-to-earnings ratios above their five-year averages. That suggests the big value opportunity here is gone, but you have to keep in mind that the stock was deeply depressed due to weak financial performance. So the five-year averages could be skewed low.
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While it is completely fair to say that Target doesn't offer the same value as it did at the start of 2026, Walmart's P/S and P/E ratios are 1.1x and 38x, respectively. Target's P/S and P/E ratios are roughly 0.7x and 17x, respectively. Moreover, the high end of those metrics for Target was around 1.1x and 23x, respectively, in the early 2020s. Given that the stock is still nearly 40% below its 2021 high, there could be more room to recover.
Still, deep value investors should probably look elsewhere. Investors have already priced much of the recovery news into the stock price, as reflected in valuation metrics relative to their five-year averages. In fact, if you bought at the low, you may want to consider locking in some profits. Further gains are likely to require Target to continue posting very strong numbers. If it falls short of that, a sell-off wouldn't be surprising.
NEW YORK CITY, NY / ACCESS Newswire / August 26, 2026 / Emerging Growth Research today announced the release of its Fiscal Q1 2027 Quarterly Update on Virtuix Holdings Inc. (NASDAQ:VTIX), reiterating its Buy-Emerging rating and 12-month price target of $9.00 per share, representing approximately 644% potential upside from the Company's August 25, 2026 closing price of $1.21.
The quarterly update highlights what Emerging Growth Research believes is the beginning of an important growth inflection for Virtuix following a transformational fiscal 2026. While fiscal Q1 2027 revenue was technically down year-over-year due primarily to the comparison against a large legacy preorder backlog in the prior-year period, revenue of $0.8 million substantially exceeded the firm's $0.5 million estimate. The report also points to accelerating new orders following Virtuix's June 2026 partnership with Meta, continued expansion of its defense opportunity, and significant longer-term revenue potential.
Emerging Growth Research believes Virtuix is transitioning into a growth company, supported by its market-leading, patent-protected, AI-driven technology platform and multi-market strategy spanning consumer virtual reality, defense, robotics, space, and healthcare. The firm's bullish outlook is further supported by the Company's recurring software and gaming revenue opportunities, new Meta distribution channel, U.S. defense initiatives, and potential strategic defense acquisitions.
Key Highlights from the Quarterly Update
• Fiscal Q1 2027 Revenue Exceeded Expectations
Virtuix reported fiscal Q1 2027 revenue of approximately $0.8 million, compared with $1.0 million in the prior-year period. Although revenue declined 26% year-over-year, Emerging Growth Research notes that the comparison was affected by the prior year's large legacy preorder backlog. Importantly, the latest quarter reflected new orders and revenue from customers following the Company's Meta partnership and exceeded the firm's $0.5 million estimate.
New orders increased approximately 72% year-over-year during the quarter and approximately 150% since the June 2026 launch of the Meta partnership, providing evidence that consumer demand is gaining momentum heading into the holiday sales season.
• Meta Partnership Provides Significant Consumer Market Access
Virtuix's partnership with Meta provides access to approximately 20 million Meta Quest headset users, including approximately 6 million active users. Omni One is now featured on Meta's website, creating a substantially broader distribution channel for Virtuix's flagship platform.
Emerging Growth Research believes this relationship could become an important catalyst for consumer adoption, with Virtuix also expanding its presence in Europe and in Canada through an online presence.
• Defense Opportunity Continues to Expand
Virtuix continues to advance its AI-powered Virtual Terrain Walk platform for national defense applications. The Company was selected by the U.S. Air Force SBIR program for Phase 1 funding, while the Marines, Army, and Navy are also beginning to use Omni One for various applications.
In addition, management is evaluating potential defense acquisitions in the approximately $10 million to $50 million revenue range, which Emerging Growth Research believes could accelerate Virtuix's penetration of the government contracting market and potentially create transformational growth opportunities.
• Gross Margin Improved Significantly
Gross profit increased to approximately $0.23 million in fiscal Q1 2027 from $0.18 million in fiscal Q1 2026, while gross margin expanded from 17% to approximately 30%.
Although operating expenses increased as Virtuix absorbs the costs associated with being a newly public company, operating losses improved sequentially from fiscal Q4 2026. Adjusted EBITDA also improved sequentially, while EPS improved to $(0.22) from $(0.30) in the prior quarter.
• Potential "Hockey Stick" Revenue Growth Ahead
Emerging Growth Research now estimates approximately 19% revenue growth in fiscal 2027, followed by approximately 275% growth in fiscal 2028, with the potential for substantially higher growth thereafter as consumer adoption accelerates and defense opportunities begin contributing more meaningfully.
The firm believes Virtuix could reach a significant revenue inflection point beginning in calendar 2027 and that longer-term estimates may prove conservative if the Company successfully executes across its consumer and defense opportunities.
• Shares Remain Significantly Undervalued
Despite the Company's growth opportunities, Emerging Growth Research believes VTIX shares continue to trade at a substantial valuation discount.
Based on its valuation analysis, the firm's 2028E peer Price/Sales methodology produces a $6.45 per share valuation, while its discounted cash flow analysis produces an $11.47 per share valuation. The average of the two methodologies is approximately $8.96 per share, which the firm rounds to its $9.00 price target.
At the August 25, 2026 closing price of $1.21, Emerging Growth Research believes VTIX shares reflect a significant discount to the Company's potential future growth and intrinsic value.
• Near-Term Risks Remain
The report identifies several risks, including execution of consumer adoption and growth initiatives, uncertainty surrounding defense contracting, expansion into new robotics, space and healthcare applications, geopolitical and tariff exposure related to manufacturing and international expansion, and potential additional share supply following the expiration of the Company's post-IPO lockup period.
The report also notes that additional financing may ultimately be required as Virtuix continues investing in higher SG&A expenses, although debt and warrants are expected to convert or expire during calendar 2026.
Emerging Growth Research believes these risks are outweighed by Virtuix's expanding consumer and defense opportunities, proprietary technology, new Meta distribution relationship, and potential for substantial revenue growth beginning in fiscal 2027 and accelerating thereafter.
The report concludes that Virtuix's combination of AI-driven extended reality technology, consumer VR adoption, defense applications, recurring software and gaming revenue, and potential strategic M&A creates a compelling long-term growth opportunity. Emerging Growth Research reiterates its Buy-Emerging rating and $9.00 price target.
For a copy of the full Fiscal Q1 2027 Quarterly Update, please visit:
https://emerginggrowth.com/profile/vtix/ (Quarterly Update available on the Company profile page on the right as you scroll down)
About Virtuix Holdings Inc.
Virtuix Holdings Inc. (NASDAQ:VTIX) is a leading manufacturer of AI-driven, full-body simulation systems for consumer, enterprise, and defense markets. The Company's premier portfolio of "Omni" omni-directional treadmills enables players to walk and run in 360 degrees without boundaries inside AI-generated worlds. With a focus on immersive entertainment, defense training, and enterprise applications, Virtuix continues to push the boundaries of full-body XR and AI-driven immersive experiences for users worldwide. For more information, please visit www.Virtuix.com.
About Emerging Growth Research
Emerging Growth Research is an independent equity research firm focused on providing institutional-quality analysis on emerging and growth-stage companies. Through its comprehensive research platform, Emerging Growth Research delivers objective investment analysis designed to enhance transparency, improve investor understanding, and broaden market awareness. The firm provides ongoing research coverage for companies presenting on the Emerging Growth Conference platform.
Contact:
Emerging Growth Research
[email protected]
www.EmergingGrowth.com
Forward-Looking Statements
This press release contains forward-looking statements concerning business operations, financial performance, revenue projections, defense contracting opportunities, merger and acquisition prospects, valuation estimates, and future growth expectations. These statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied. Important risk factors include, but are not limited to, consumer adoption rates, defense contract timing and procurement delays, geopolitical and tariff exposure, potential share dilution, the expiration of the IPO lock-up period, and the Company's ability to successfully execute its growth strategy across both consumer and defense markets.
Nvidia Corporation demonstrates robust business growth, with revenue forecasted to rise from $96B to $108B and forward P/E compressing to 23. Despite competitive threats and overproduction fears, NVDA's absolute revenue gains outpace rivals, supported by a second wave of sovereign and corporate demand. The consolidation pattern on NVDA's chart, coupled with strong fundamentals and neutral technicals, signals a high-probability breakout toward $260–$265.
After its historic IPO, which initially priced shares at $135, Space Exploration Technologies (SPCX +0.45%) stock quickly soared, setting an all-time high of $225.64 on June 15. The space stock quickly lost its luster, however. Over the following months, SpaceX's stock price has fallen back to near its initial IPO valuation.
Wall Street analysts largely remain unperturbed. On average, analysts have a $232.35 price target on shares, implying more than 68% upside from today's price. One analyst, Andrew Beale from Arete Research, even has a $450 price target on the stock, suggesting at least 200% in upside over the next 12 months.
Not all experts are SpaceX bulls. Glenn Thum of Phillip Securities, a Singaporean investment bank, currently rates SpaceX stock as a sell. His price target of $75 implies 45% downside over the year to come.
In other words, while Wall Street remains very bullish on SpaceX on average, individual predictions range widely. What should investors make of this apparent disagreement? The answer is surprisingly simple.
Today's Change
(
0.45
%) $
0.63
Current Price
$
141.50
Wall Street predictions for SpaceX stock hinge on this catalyst SpaceX disclosed plenty of important details during its second-quarter earnings call. But most of the critical details regarding SpaceX's long-term growth potential remain in the company's original IPO prospectus.
To understand Wall Street's price projections, it's necessary to first understand where SpaceX believes it has the most growth potential.
"We believe we have identified the largest actionable total addressable market in human history," SpaceX declared near the start of its IPO prospectus. "We estimate that our quantifiable TAM is $28.5 trillion, consisting of $370 billion in Space from space-enabled solutions; $1.6 trillion in Connectivity across $870 billion in Starlink Broadband and $740 billion in Starlink Mobile as well as additional opportunities in enterprise and government; $26.5 trillion in AI across $2.4 trillion in AI infrastructure, $760 billion in consumer subscriptions, $600 billion in digital advertising, and $22.7 trillion in enterprise applications."
Immediately, we can understand what any forecast for SpaceX stock must hinge on: the success of its AI segment, which constitutes 93% of the company's total claimed long-term growth opportunity.
Image source: Getty Images.
To be sure, SpaceX's other segments -- which include its rocket launch business and its Starlink internet service -- should prove valuable over time. Its Starlink segment is already profitable, with impressive subscriber growth and operational leverage. Its rocket division, meanwhile, is arguably the best in the world, and should prove critical for enabling other growth opportunities such as orbital data centers.
But the combined total addressable market for those two segments, according to SpaceX's likely rosy estimates, is just $2 trillion. That's not much higher than SpaceX's current stock price. For the company to make sense as an investment, then, it must have meaningful success in scaling its AI business.
Indeed, this is largely why Thum of Phillip Securities has a sell rating on the stock. Thum is worried about the massive capital expenditures necessary for scaling SpaceX's AI division, as well as its alarming customer concentration. Nearly 20% of second-quarter revenue came from a single AI customer.
Other analysts, however, are incredibly bullish on SpaceX stock because they believe in the company's AI vision. Goldman Sachs, for example, sees SpaceX's AI revenue surging 100-fold by 2030. There will be some growing pains involved. Goldman Sachs projects negative cash flow of $105 billion in 2029, before it becomes cash-flow-positive in 2030 or 2031.
The spread in analyst projections largely reflects differences in how each analyst sees SpaceX's AI ambitions faring. It will take years to know the answer. But a long-term investment in SpaceX stock hinges almost solely on how large and how quickly the company can scale this division. How profitable this division is once scaled, meanwhile, is a completely different question.
Wall Street analysts have different estimates for SpaceX's Starlink and rocket launch growth rates. But make no mistake: SpaceX's valuation will ultimately be a function of the relative success or failure of its AI business.
Vancouver, British Columbia--(Newsfile Corp. - August 27, 2026) - Cabral Gold Inc. (TSXV: CBR) (OTCQX: CBGZF) ("Cabral" or the "Company") is pleased to announce results from ten additional diamond drill holes at the Jerimum Cima target located within the Cuiú Cuiú Gold District, Brazil. Highlights Drilling at the Jerimum Cima target, located 3km ENE of the Central gold deposit and 3.5km NW of the MG gold deposit at Cuiú Cuiú, has returned 8.9m @ 5.8 g/t gold from 208.1m depth including 1.8m @ 28.4 g/t gold from 212.2m depth in hole DDH411 The intercept in DDH411 is interpreted as a new mineralized zone which is located 200m south of the main mineralized zone at Jerimum Cima.
Melbourne, Australia and Vancouver, Canada – August 27, 2026 – TheNewswire - Mithril Silver and Gold Limited ("Mithril” or the "Company") (TSXV: MSG) (ASX: MTH) (OTCQB: MTIRF) is pleased to provide details of significant progress at Mithril’s district scale Copalquin property, Durango State, Mexico.
Drilling Highlights
Recent drilling at the historic Copalquin Mine area at Target 4 has returned wide, high-grade, and near surface silver and gold mineralisation, with substantially elevated silver values,
Mineralisation intercepted by drilling across the combined Copalquin-Zaragoza corridor now extended to a strike length of 550 metres and 200 metres vertically
Projected vein remains untested 400 m to the northwest towards Target 1 (Refugio) and 600 m to the southeast towards Target 4 (San Manuel):
11.70 m @ 456 g/t AgEq1 (1.06 g/t gold, and 381 g/t silver) from 22.0 m (CO26-001), including
3.40 m @ 1,239 g/t AgEq (2.72 g/t gold, and 1049 g/t silver) from 28.4 m, and including
0.60 m @ 3,877 g/t AgEq (4.81 g/t gold, and 3,540 g/t silver) from 31.2 m.
13.95 m @ 387 g/t AgEq (1.76 g/t gold, and 264 g/t silver) from 88.85 m (CO26-002), including
1.00 m @ 1,747 g/t AgEq (7.03 g/t gold, and 1,255 g/t silver) from 97 m.
6.50 m @ 320 g/t AgEq (0.22 g/t gold, and 305 g/t silver) from 93.4 m (CO26-003), including
0.80 m @ 1,890 g/t AgEq (1.07 g/t gold, and 1,815 g/t) silver from 97 m.
This latest drilling includes higher silver grades and builds on successful results from June 2024 when the first drill holes in this area returned intercepts, including 5.66 m with 2.58 g/t gold, 230 g/t silver from 18.5 m in drill hole CDH-1522. At the time, the geology of the area was not well understood. With the benefit of this new drilling, combined with the high-grade results further along strike at Zaragoza, including 0.57 m with 6.40 g/t gold, 4,400 g/t silver from 342.4 m in drill hole MTH-ZG25-373, the Company is working to determine grade continuity within the Copalquin-Zaragoza Structure, which has a potential total strike length of 1.5 km (see Figure 1).
Drilling has now confirmed mineralisation over approximately 550 metres of strike length and remains open for potential expansion both along strike and dip (see Figure 2). This growing zone is interpreted to form part of the Copalquin-Zaragoza Structure, a major northwest-trending geological feature that may connect El Refugio at Target 1 with the historical San Manuel workings at Target 4 across the valley to the southeast.
“These results represent an important step forward in our progress at the historic Copalquin Mine area within this large, high-grade gold-silver system. What began as an area with limited geological understanding has progressed with potential to be a substantial, high-grade mineralised corridor, with drilling demonstrating strong gold and silver mineralisation over a substantial strike length and across multiple levels,” said John Skeet, Managing Director and CEO. “The combination of these broad mineralised intervals with exceptional high-grade intercepts at the Copalquin mine area and our results further along strike at Zaragoza is particularly positive. We are seeing how these discoveries potentially align within the larger Copalquin-Zaragoza Structure and connecting several historical mining areas across the district. Drilling has recommenced at Target 4 to test the structure to the southeast”
Click Image To View Full Size
Figure 1: Target 1 plan map showing drill hole trace locations, highlight intercepts in this announcement and resource footprint area
Click Image To View Full Size
Figure 2: Long section view of the El Refugio vein looking perpendicular to vein to the northeast
ABOUT THE COPALQUIN AND LA DURA GOLD SILVER PROPERTIES
Mithril is undertaking an aggressive exploration program in 2026, with 25,000 metres of drilling planned during the year across the Copalquin District. Work in the second half of 2026 is focussing on expanding known mineralised zones, testing new high-priority targets, integrating district-wide geophysical data, and continuing to advance the Company’s district-scale exploration thesis. There are 13 target areas with 6 of that advancing as high-priority and including the recently upgraded resource at Target 14. The district features over 100 historic underground workings including several notable past-producing multi-level mines and small 200 surface workings (c.1850 – 1910). Mapping and sampling across the lower half of the 70 km2 mining concession area demonstrates and a large epithermal silver-gold system with multiple target areas for potential resource growth plus the conduit system responsible for the widespread silver and gold mineralisation. Of note, are the persistent and widespread high gold grades, sampled across this silver district.
Click Image To View Full Size
Figure 3: Mithril’s Copalquin and La Dura property locations in Durango State, Mexico
The northern half of the Copalquin concession area features large areas of alteration. The LiDAR image shows evidence of historic mining activity and indicates some key structures. Along with historic sampling data, the northern section of the property presents as a potentially significant large exploration area within Mithril’s Copalquin mining concessions.
Mithril has an exclusive option to purchase 100% interest in the Copalquin mining concessions by paying US$10M on or any time before 7 August 2028.
The nearby 20 km2 La Dura property has recently been added to the portfolio providing a brown field property with a database of mapping, sampling and drilling5. The recent LiDAR survey6 has revealed multiple historic workings within the concession area, including the 4-level high-grade La Dura mine. An initial 1.5 km long mineralisation corridor has been identified as a future drill target. An aerial magnetic survey has been complete with interpretation work currently progressing.
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Figure 4: LiDAR identified historic workings across the 70km2 district. Current drilling locations at Target 3 and Target 4 with ongoing mapping and sampling.
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Figure 5: Property-wide channel sampling results for the middle and south district sections within ~50% of the 70 km2 mining concession area covering the Copalquin District. An aerial magnetic survey and a desktop structural study have been completed over the area and are being interpreted to support drill planning for district defining targets such as the current drilling along the Copalquin Structure.
Drilling Program Discussion
Table 1: Recent significant results received for Target 1 resource upgrade drilling
Hole ID
From (m)
To (m)
Length (m)
Au g/t
Ag g/t
AuEq g/t7
AgEq g/t8
Cu %
Pb %
Zn %
Target 1
LS26-008
30.40
43.85
13.45
1.55
16.6
1.78
125
0.01
0.00
0.01
including*
41.20
41.70
0.50
27.90
156.0
30.13
2109
0.00
0.00
0.00
LS26-008
87.35
87.85
0.50
0.85
8.2
0.97
68
0.00
0.00
0.01
LS26-009
82.20
82.80
0.60
1.29
3.2
1.33
93
0.01
0.00
0.01
LS26-009
125.30
126.80
1.50
0.91
70.3
1.92
134
0.01
0.06
0.10
RE26-017
402.00
402.60
0.60
2.63
10.1
2.77
194
0.00
0.00
0.07
RE26-017
404.95
405.50
0.55
7.54
17.4
7.79
545
0.00
0.01
0.01
Target 4
CO26-001*
22.00
33.70
11.70
1.06
381.3
6.51
456
0.20
0.07
0.35
including
23.40
24.00
0.60
2.67
456.0
9.18
643
0.43
0.07
0.50
and
28.40
31.80
3.40
2.72
1048.9
17.70
1239
0.50
0.19
0.90
including
28.40
29.10
0.70
7.92
1260.0
25.92
1814
1.27
0.04
0.22
and*
31.20
31.80
0.60
4.81
3540.0
55.38
3877
0.82
1.01
3.88
CO26-002*
88.85
102.80
13.95
1.76
263.8
5.53
387
0.04
0.01
0.03
including
88.85
99.00
10.15
2.31
347.9
7.28
510
0.05
0.01
0.03
including
97.00
99.00
2.00
5.32
778.5
16.44
1151
0.04
0.01
0.02
including*
97.00
98.00
1.00
7.03
1255.0
24.96
1747
0.04
0.01
0.02
CO26-003*
60.20
61.75
1.55
0.63
162.0
2.95
206
0.15
0.03
0.20
and
93.40
99.90
6.50
0.22
305.0
4.57
320
0.08
0.10
0.14
including
96.00
98.85
2.85
0.41
662.4
9.87
691
0.17
0.22
0.31
including*
97.00
97.50
0.50
1.07
1815.0
27.00
1890
0.43
0.88
1.28
Target 5
MA26-002*
168.25
168.75
0.50
12.20
848.0
24.31
1702
0.02
0.05
0.07
AP26-002
30.60
31.10
0.50
0.40
58.7
1.24
87
0.01
0.04
0.08
AP26-003
14.10
15.50
1.40
0.21
35.4
0.71
50
0.00
0.02
0.04
LI26-001
27.60
28.10
0.50
0.26
61.0
1.13
79
0.01
0.01
0.01
LI26-002
74.35
75.00
0.65
0.48
53.7
1.25
88
0.01
0.00
0.01
* Intercepts shown on attached maps and sections
** Copper (Cu), lead (Pb) and zinc (Zn) values are shown for information only and are not included in the calculation of AuEq nor being considered as part of the economic model for the deposit by Mithril.
Click Image To View Full Size
Figure 6: Target 1 plan map showing drill hole trace locations, highlight intercepts in this announcement and resource footprint area
Copalquin-Zaragoza Drilling Summary
The Copalquin Mine is located on the northwest margin of the Copalquin arroyo just above the site of the historical San Manuel 10 tonne per day mine (Figure 7). There are two tunnels driven at 290 degrees on a 0.4 to 0.8 m wide quartz vein that dips steeply to the northeast. The longer of the two tunnels is 30 m in length and has no stopes.
Matrix supported hydrothermal breccia with black sulphide is observed in the vein in the workings. The vein is in the centre of a 15 m wide zone of similar thinner veins forming a structural corridor. Channel sampling returned assays grading up to 7.48 g/t Au and 300 g/t Ag, over a width of 1.2 m. In 2024, drill holes CDH-151 and CDH-152 were drilled immediately below the workings to test the down dip continuation of the high-grade mineralisation, and holes CDH-154 to CDH-156 were drilled to the northwest and along strike of the workings. The best intercept was in hole CDH-152 grading 1.92 m at 4.50 g/t Au and 520.2 g/t Ag starting from 18.50 m downhole. Drill holes, CDH-151 (partially), -155, and -156 intercepted what is now understood to be a post-mineral dyke system (Tapp) at the projected vein intercept depths and that were previously interpreted to terminate the mineralization.
Across the ridge to the northwest in the Soledad arroyo, the Zaragosa workings appear to be on the same structure (Figure 7). The Zaragoza workings are completely caved and inaccessible but are shown on historical maps to run at 105 degrees directly towards the Copalquin mine 300 m to the southeast. Both tunnels are developed in granodiorite.
In 2025, four holes were completed at Zaragoza as an initial program to undercut historical workings (with channel grades up to 0.75 m with 3.46 g/t Au and 1,190.0 g/t Ag) that were thought to be the possible northwest feeder structure of Target 1. The drilling successfully intercepted high-grade gold and silver approximately 130 m down dip from historical workings. The best drill hole returned assays of 6.4 g/t Au and 4,400.0 g/t Ag over 0.57 m starting from 342.4 m depth in hole MTH-ZG25-37. Hydrothermal vein and quartz breccia zones with anomalous Au and Ag were intercepted in holes MTH-ZG25-39, 40 and 42.
Based on the positive results of previous drilling and new interpretation of the post-mineral dyke system (Tapp) that was applied in the Refugio area9, three drill holes (totalling 528 m) have been completed to test a revised interpretation of the Copalquin structure. All three drill holes successfully intercepted the target structure within the host granodiorite unit.
The three holes were drilled to test the projected extension of the Copalquin vein along strike, and at similar elevation, and across the post-mineral dyke intrusions (Tapp). Hole CO26-001 was the first hole to be drilled on the east side of the Copalquin arroyo as a 60 m step-out from hole CDH-152 and successfully intercepted the Copalquin structure in a 11.70 m wide (downhole length) hydrothermal vein and quartz breccia zone. Drill hole CO26-002 was a 120 m step-out to the northwest of hole CDH-156, and 70 m step-out to the southeast of hole MTH-ZG25-42 to bridge the connection between the Copalquin and Zaragoza structures, and also successfully intercepted a 13.60 m wide (downhole length) mineralized hydrothermal quartz breccia. Hole CO26-003 moved back to the southeast as a 60 m step-out from CO26-001 and successfully intercepted two zones of mineralization, with the upper zone partially truncated by the Tapp system and the lower zone spanning 6.50 m (downhole length) of mineralized quartz breccia and stockwork (see grades reported in Table 1).
Anomalous base metal mineralization was intercepted in all three holes, occurring at generally low concentrations and dominated by zinc and lead, with less common copper (present as chalcopyrite). Based on other drilling results in Target 4 and Target 5, the granodiorite (Tgd) commonly exhibits elevated base metals and silver within polymetallic mineralization. This base metal association may reflect a polymetallic component of the deeper or lower-temperature expression at the base of the broader epithermal silver-gold system.
The program successfully expanded the known footprint of the Copalquin vein along strike at a consistent elevation of approximately 850 metres above sea level, successfully bridged the Copalquin and Zaragosa structures over approximately 500 m of strike length, and identified drilling targets in all directions along the structural corridor. Untested ground exists to the southeast along approximately 600 m along strike and 350 m up-dip between CO26-003 and the historical San Manuel mine, and to the northwest along approximately 400 m of strike with 250 m up-dip of untested ground between MTH-ZG25-39 towards the El Refugio zone (Figure 9).
Click Image To View Full Size
Figure 7 Copalquin Structure plan map showing drill traces along 500 metres of strike and recent drill intercepts
Click Image To View Full Size
Figure 8: Cross section +/- 100 metres for drilling on the Copalquin Structure
Figure 9: Long section view of the El Refugio vein looking perpendicular to vein to the northeast
Other drilling results discussion
Since completion of the Target 1 Mineral Resource drilling program in June 2026, Mithril has been leading an exploration drilling campaign to test geophysical and structural targets. The program has been advancing methodically moving from west to east.
Four holes were completed at El Refugio (2 holes, 1,038 m) and La Soledad (2 holes, 723 m) following the cut-off date of the Target 1 Mineral Resource Estimate. The holes in Refugio tested down dip extension of the vein, with hole RE26-017 successfully intercepting mineralization in 2 zones At La Soledad, drilling was completed to test the southeast extension of the vein, with several notable intercepts (see Table 1) within a narrow and stockwork mineralisation.
In the Refugio west area, five holes were drilled at El Gallo (2 holes, 462 m), La Guacima (1 hole, 228 m) and El Platano (2 holes,1,143 m) areas. The program intended to test the western extension of the Refugio vein between the Mineral Resource area and El Gallo. Presence of the Refugio structure was intercepted in drilling, however mineralization contained no reportable grades. El Platano, located to the northwest of the Target 1 resource area, consists of a zone with strong argillic alteration and which appears to lie along a northeast trending structure. Drill hole EP26–001 targeted intersection of this northeast structure at the top of the hole as well as geophysical anomalies to depth which were explained by Tapp intrusions. Drill hole EP26-002 was drilled to overlap with EP26-001 at a higher elevation, and to test for the continuity of the westerly projected Refugio structure at depth. Hole EP26–002 successfully intersected the Refugio structure between 306.05-311.60 m downhole depth as a brecciated zone with light grey hydrothermal quartz and minor sulphides, and with anomalous but non-reportable grades.
In the Target 5 area, drilling was completed to test the depth and northwest extension of the El Apomal (3 holes, 865 m), Las Lianas (3 holes, 513 m), and La Maquina (1 hole, 234 m). The Apomal holes intercepted quartz breccia structures at the projected depths however did not contain reportable grades. Of note in hole AP26-003 was a semi-massive sulphide intersection, within a northeast trending structure, with 6.2 m of 0.58 % lead and 0.55 % zinc from 200 m, including 1 m with 2.62 % lead and 1.61% zinc from 205.2 m. While base metal mineralization is not a pursued interest by Mithril, the intercept offers insight into the broader mineralized system in the Target 5 area. At La Maquina, hole MA26-002 was a follow-up to the success of the discovery hole MA26-00110. Hole MA26-001 was drilled as a 150 m step-out to the northwest and successfully intercepted the structure approximately 100 m below surface.
A summary of all holes being announced in this News Release is shown in Table 2, with a complete list of all assays >0.10 g/t AuEq listed in Table 3 .
Table 2: Drill hole collar details included in this announcement
Hole ID
Easting
Northing
Elevation
Azimuth
Inclination
Depth (m)
(m)
(m)
(m)
(degrees)
(degrees)
Target 1
RE26-016
288999
2824048
1191
160
-63
501
RE26-017
289066
2824050
1178
154
-72
537
LS26-008
289703
2824063
1088
200
-60
351
LS26-009
289728
2824453
1077
160
-45
372
EP26-001
288097
2824801
1105
155
-45
651
EP26-002
288025
2824144
948
165
-55
492
GA26-001
287771
2823853
945
190
-60
162
GA26-002
287968
2823975
913
180
-60
300
LG26-001
288143
2823670
984
190
-48
228
Target 4
CO26-001
290285
2823175
887
195
-52
120
CO26-002
290052
2823308
1004
220
-63
288
CO26-003
290325
2823185
902
170
-45
120
Target 5
MA26-002
288867
2822995
725
217
-45
234
LI26-001
288718
2822450
826
235
-70
219
LI26-002
288837
2822319
844
240
-45
153
LI26-003
288842
2822317
843
220
-45
141
AP26-001
287756
2822648
814
41
-60
255
AP26-002
287703
2822648
843
42
-55
300
AP26-003
287654
2822716
865
40
-55
310
Note: Some collar locations may be reported with approximate handheld GPS coordinates, while surveying with differential GPS is pending completion
Table 3: All drill results reported greater than or equal to 0.1 g/t AuEq
Hole ID
From (m)
To (m)
Length (m)
Au g/t
Ag g/t
AuEq g/t
AgEq g/t
Target 1
RE26-017
402.00
402.60
0.60
2.63
10.1
2.77
194
RE26-017
402.60
403.30
0.70
0.08
1.5
0.11
7
RE26-017
404.95
405.50
0.55
7.54
17.4
7.79
545
RE26-017
405.50
406.00
0.50
0.07
2.6
0.11
8
RE26-017
432.00
434.00
2.00
0.12
1.2
0.13
9
RE26-017
434.00
435.00
1.00
0.11
8.0
0.22
16
RE26-017
437.00
438.00
1.00
0.10
4.3
0.16
11
RE26-017
444.30
445.30
1.00
0.01
5.9
0.1
7
LS26-008
30.40
31.00
0.60
0.11
12.0
0.28
19
LS26-008
31.00
32.20
1.20
0.06
7.2
0.16
12
LS26-008
32.20
33.25
1.05
0.17
25.0
0.52
37
LS26-008
33.25
33.75
0.50
0.31
36.3
0.83
58
LS26-008
33.75
34.35
0.60
0.13
6.9
0.23
16
LS26-008
34.35
34.85
0.50
0.13
6.3
0.22
15
LS26-008
34.85
35.35
0.50
0.19
8.4
0.31
22
LS26-008
35.35
36.00
0.65
0.85
13.6
1.04
73
LS26-008
36.00
36.50
0.50
0.57
18.2
0.83
58
LS26-008
36.50
37.00
0.50
0.48
25.9
0.85
60
LS26-008
37.00
37.90
0.90
0.47
11.0
0.63
44
LS26-008
37.90
38.45
0.55
0.16
4.2
0.22
15
LS26-008
38.45
39.20
0.75
0.06
2.7
0.1
7
LS26-008
39.20
40.10
0.90
2.34
17.3
2.59
181
LS26-008
40.10
40.65
0.55
0.12
2.1
0.15
10
LS26-008
40.65
41.20
0.55
0.62
4.7
0.69
48
LS26-008
41.20
41.70
0.50
27.90
156.0
30.13
2109
LS26-008
41.70
42.25
0.55
0.08
13.8
0.27
19
LS26-008
43.00
43.85
0.85
2.29
1.1
2.31
161
LS26-008
46.00
47.00
1.00
0.07
4.9
0.14
10
LS26-008
49.00
50.50
1.50
0.08
5.3
0.15
11
LS26-008
52.00
53.00
1.00
0.37
3.5
0.42
29
LS26-008
55.75
57.00
1.25
0.03
5.6
0.11
7
LS26-008
58.05
59.15
1.10
0.08
25.6
0.45
31
LS26-008
60.65
61.40
0.75
0.03
5.9
0.11
8
LS26-008
85.20
86.30
1.10
0.12
2.4
0.16
11
LS26-008
86.30
87.35
1.05
0.18
2.5
0.21
15
LS26-008
87.35
87.85
0.50
0.85
8.2
0.97
68
LS26-008
104.00
104.80
0.80
0.14
1.7
0.17
12
LS26-008
104.80
105.65
0.85
0.44
1.5
0.46
32
LS26-008
106.95
107.60
0.65
0.09
1.9
0.12
8
LS26-008
157.40
157.90
0.50
0.03
5.5
0.11
8
LS26-008
164.00
164.50
0.50
0.08
5.6
0.16
11
LS26-008
234.30
234.90
0.60
0.05
5.3
0.13
9
LS26-008
236.10
236.75
0.65
0.08
5.7
0.16
11
LS26-008
239.35
240.10
0.75
0.06
9.4
0.2
14
LS26-008
244.25
245.30
1.05
0.38
0.6
0.39
27
LS26-009
76.55
78.55
2.00
0.36
0.3
0.37
26
LS26-009
80.45
81.10
0.65
0.15
6.5
0.25
17
LS26-009
81.10
81.60
0.50
0.47
4.5
0.53
37
LS26-009
81.60
82.20
0.60
0.77
3.2
0.81
57
LS26-009
82.20
82.80
0.60
1.29
3.2
1.33
93
LS26-009
82.80
83.50
0.70
0.73
4.9
0.8
56
LS26-009
123.00
124.30
1.30
0.11
1.4
0.13
9
LS26-009
124.80
125.30
0.50
0.08
7.1
0.18
13
LS26-009
125.30
125.80
0.50
1.31
49.5
2.01
141
LS26-009
125.80
126.30
0.50
1.05
97.0
2.43
170
LS26-009
126.30
126.80
0.50
0.39
64.5
1.31
92
LS26-009
127.30
128.10
0.80
0.12
7.2
0.22
16
LS26-009
128.10
129.00
0.90
0.02
5.4
0.1
7
LS26-009
129.60
130.40
0.80
0.13
7.8
0.24
17
LS26-009
130.40
131.00
0.60
0.14
6.8
0.23
16
LS26-009
131.00
131.70
0.70
0.14
5.1
0.21
15
LS26-009
136.00
137.00
1.00
0.09
3.4
0.14
10
LS26-009
137.00
137.50
0.50
0.31
6.5
0.4
28
LS26-009
145.00
145.65
0.65
0.11
3.6
0.16
11
LS26-009
145.65
147.00
1.35
0.05
4.5
0.11
8
LS26-009
151.50
153.00
1.50
0.11
6.5
0.2
14
LS26-009
153.00
153.55
0.55
0.14
7.1
0.24
17
LS26-009
176.00
177.00
1.00
0.02
6.1
0.11
8
LS26-009
214.00
214.90
0.90
0.08
7.4
0.18
13
LS26-009
310.40
310.90
0.50
0.05
3.4
0.1
7
LS26-009
312.60
313.35
0.75
0.04
5.0
0.11
8
EP26-002
275.40
275.90
0.50
0.03
5.1
0.1
7
EP26-002
297.00
298.00
1.00
0.02
5.5
0.1
7
EP26-002
299.00
299.90
0.90
0.02
5.7
0.1
7
EP26-002
299.90
300.60
0.70
0.02
8.7
0.15
10
EP26-002
309.30
310.00
0.70
0.03
5.1
0.11
7
LG26-001
9.00
10.20
1.20
0.03
5.3
0.11
7
LG26-001
10.20
12.00
1.80
0.10
10.7
0.25
18
LG26-001
20.30
21.00
0.70
0.07
3.7
0.12
8
LG26-001
21.00
21.90
0.90
0.06
3.1
0.1
7
GA26-001
86.45
87.00
0.55
0.10
5.4
0.17
7
Target 4
CO26-001
7.00
8.00
1.00
0.02
12.1
0.2
14
CO26-001
22.00
22.90
0.90
0.18
23.5
0.52
36
CO26-001
22.90
23.40
0.50
1.09
221.0
4.25
297
CO26-001
23.40
24.00
0.60
2.67
456.0
9.18
643
CO26-001
24.00
24.90
0.90
0.07
14.0
0.27
19
CO26-001
24.90
26.00
1.10
0.27
212.0
3.3
231
CO26-001
26.00
27.00
1.00
0.14
67.4
1.11
77
CO26-001
27.00
27.90
0.90
0.07
32.3
0.53
37
CO26-001
27.90
28.40
0.50
0.02
12.2
0.19
14
CO26-001
28.40
29.10
0.70
7.92
1260.0
25.92
1814
CO26-001
29.10
29.95
0.85
0.03
20.0
0.32
22
CO26-001
29.95
30.70
0.75
0.73
489.0
7.72
540
CO26-001
30.70
31.20
0.50
0.47
353.0
5.51
386
CO26-001
31.20
31.80
0.60
4.81
3540.0
55.38
3877
CO26-001
31.80
32.30
0.50
0.35
141.0
2.36
166
CO26-001
32.30
32.80
0.50
0.09
43.4
0.71
50
CO26-001
32.80
33.70
0.90
0.10
54.7
0.88
61
CO26-001
34.90
35.50
0.60
0.01
8.1
0.13
9
CO26-002
53.50
54.00
0.50
0.06
5.1
0.13
9
CO26-002
58.30
58.85
0.55
0.08
24.9
0.43
30
CO26-002
58.85
59.45
0.60
0.04
6.6
0.13
9
CO26-002
77.65
78.15
0.50
0.19
16.7
0.43
30
CO26-002
88.85
89.85
1.00
3.17
438.0
9.43
660
CO26-002
89.85
90.85
1.00
1.06
125.0
2.85
199
CO26-002
90.85
92.00
1.15
1.97
388.0
7.51
526
CO26-002
92.00
93.00
1.00
0.36
52.0
1.1
77
CO26-002
93.00
94.00
1.00
2.11
194.0
4.88
342
CO26-002
94.00
95.00
1.00
0.67
105.0
2.17
152
CO26-002
95.00
96.00
1.00
1.88
493.0
8.92
624
CO26-002
96.00
97.00
1.00
1.29
121.0
3.02
211
CO26-002
97.00
98.00
1.00
7.03
1255.0
24.96
1747
CO26-002
98.00
99.00
1.00
3.61
302.0
7.92
555
CO26-002
99.00
100.00
1.00
0.21
23.7
0.54
38
CO26-002
100.00
101.00
1.00
0.37
92.4
1.69
118
CO26-002
101.00
102.00
1.00
0.32
21.3
0.63
44
CO26-002
102.00
102.80
0.80
0.23
14.5
0.44
31
CO26-002
105.00
106.00
1.00
0.03
7.1
0.13
9
CO26-002
106.00
106.85
0.85
0.04
7.2
0.14
10
CO26-002
106.85
108.20
1.35
0.17
5.3
0.24
17
CO26-002
110.00
110.50
0.50
0.10
12.5
0.28
20
CO26-002
110.50
111.15
0.65
0.25
32.7
0.72
50
CO26-002
111.15
112.00
0.85
0.15
6.6
0.25
17
CO26-002
160.05
161.05
1.00
0.07
2.4
0.1
7
CO26-002
161.05
161.70
0.65
0.29
11.8
0.46
32
CO26-002
161.70
162.45
0.75
0.09
3.0
0.13
9
CO26-002
162.45
163.00
0.55
0.08
3.5
0.13
9
CO26-002
163.00
164.10
1.10
0.15
9.4
0.28
20
CO26-002
164.10
164.65
0.55
0.15
14.9
0.36
25
CO26-002
167.60
168.10
0.50
0.10
5.5
0.18
12
CO26-002
168.10
169.25
1.15
0.28
16.1
0.51
36
CO26-002
170.15
171.00
0.85
0.05
4.5
0.12
8
CO26-003
60.20
61.00
0.80
0.54
148.0
2.65
186
CO26-003
61.00
61.75
0.75
0.73
177.0
3.26
228
CO26-003
61.75
63.00
1.25
0.04
6.4
0.13
9
CO26-003
81.00
81.60
0.60
0.07
9.0
0.20
14
CO26-003
93.40
94.00
0.60
0.31
105.0
1.81
126
CO26-003
96.00
96.50
0.50
0.40
760.0
11.25
788
CO26-003
96.50
97.00
0.50
0.05
66.5
1.00
70
CO26-003
97.00
97.50
0.50
1.07
1815.0
27.00
1890
CO26-003
97.50
98.00
0.50
0.36
427.0
6.46
452
CO26-003
98.00
98.85
0.85
0.26
416.0
6.20
434
CO26-003
98.85
99.90
1.05
0.04
21.2
0.34
24
CO26-003
99.90
101.00
1.10
0.01
7.3
0.11
8
Target 5
MA26-002
7.25
7.75
0.50
0.01
8.5
0.13
9
MA26-002
102.85
103.35
0.50
0.07
21.2
0.37
26
MA26-002
168.25
168.75
0.50
12.20
848.0
24.31
1702
LI26-001
6.00
7.00
1.00
0.04
4.0
0.1
7
LI26-001
25.00
26.00
1.00
0.04
5.8
0.12
9
LI26-001
27.60
28.10
0.50
0.26
61.0
1.13
79
LI26-001
30.20
31.35
1.15
0.03
10.3
0.18
12
LI26-001
68.00
68.50
0.50
0.10
3.7
0.15
11
LI26-001
85.10
85.60
0.50
0.09
5.1
0.16
11
LI26-001
89.60
90.55
0.95
0.09
3.2
0.14
10
LI26-001
94.30
95.40
1.10
0.10
8.2
0.22
15
LI26-001
103.15
103.65
0.50
0.10
2.6
0.13
9
LI26-001
109.50
110.10
0.60
0.21
5.0
0.28
19
LI26-001
110.10
110.70
0.60
0.22
1.2
0.23
16
LI26-001
207.45
208.45
1.00
0.09
20.8
0.39
27
LI26-001
208.45
209.00
0.55
0.10
29.5
0.52
37
LI26-002
43.75
44.30
0.55
0.06
4.8
0.13
9
LI26-002
69.40
70.00
0.60
0.11
1.8
0.14
10
LI26-002
70.00
70.95
0.95
0.10
1.1
0.12
8
LI26-002
70.95
71.65
0.70
0.10
14.0
0.3
21
LI26-002
74.35
75.00
0.65
0.48
53.7
1.25
88
LI26-002
99.00
100.00
1.00
0.09
4.3
0.15
10
LI26-003
71.50
72.45
0.95
0.03
12.3
0.21
15
LI26-003
111.00
111.70
0.70
0.08
6.0
0.17
12
LI26-003
111.70
112.25
0.55
0.09
6.0
0.18
13
AP26-001
162.30
162.85
0.55
0.08
25.3
0.45
31
AP26-001
166.45
166.95
0.50
0.22
54.1
0.99
70
AP26-001
230.50
231.05
0.55
0.03
9.7
0.17
12
AP26-001
231.70
232.35
0.65
0.03
7.2
0.13
9
AP26-001
232.35
233.10
0.75
0.02
10.5
0.17
12
AP26-001
235.00
235.50
0.50
0.03
9.1
0.16
11
AP26-002
25.30
25.85
0.55
0.12
39.2
0.68
48
AP26-002
28.95
29.45
0.50
0.06
8.4
0.18
13
AP26-002
29.45
30.60
1.15
0.04
4.4
0.1
7
AP26-002
30.60
31.10
0.50
0.40
58.7
1.24
86
AP26-002
31.10
31.90
0.80
0.05
6.7
0.14
10
AP26-002
39.75
40.25
0.50
0.08
1.9
0.1
7
AP26-002
177.90
178.40
0.50
0.02
6.4
0.12
8
AP26-002
224.25
224.85
0.60
0.67
4.5
0.73
51
AP26-002
241.90
242.70
0.80
0.04
9.9
0.18
13
AP26-002
242.70
243.20
0.50
0.02
11.1
0.18
13
AP26-002
243.20
243.70
0.50
0.05
22.0
0.37
26
AP26-002
282.15
283.15
1.00
0.02
5.9
0.11
7
AP26-002
283.15
283.65
0.50
0.02
6.5
0.11
8
AP26-003
14.10
14.75
0.65
0.26
48.0
0.94
66
AP26-003
14.75
15.50
0.75
0.17
24.5
0.52
36
AP26-003
105.00
105.50
0.50
0.03
8.2
0.14
10
AP26-003
200.00
200.50
0.50
0.01
8.4
0.13
9
AP26-003
200.50
201.00
0.50
0.03
17.3
0.28
20
AP26-003
205.20
205.70
0.50
0.03
13.5
0.22
15
AP26-003
205.70
206.20
0.50
0.02
17.9
0.27
19
AP26-003
219.00
219.50
0.50
0.10
12.7
0.28
20
AP26-003
225.00
226.00
1.00
0.07
9.3
0.21
14
AP26-003
226.00
226.50
0.50
0.21
27.4
0.6
42
*See gold equivalent (AuEq) formula in the ABOUT THE COPALQUIN SILVER GOLD PROJECT section
COPALQUIN - TARGET 1 UPGRADED MRE
(For full detail of the Target 1 MRE Upgrade see ASX announcement 3 July 2026 – “Amended Announcement Copalquin Project Target 1 Deposit MRE”)
The MRE for Target 1 (Table 4) was generated as a base case assuming bulk underground mining method (long hole open stoping - LHOS) with mining widths averaging approximately 4 metres. The MSO work identified areas where more selective underground mining methods such as cut and fill (higher cost than LHOS) could be utilised to reduce dilution and increase mined grades. Table 5 provides the highlighted base case for undiluted mineralisation reporting within the underground mining shapes (mine stope optimiser – MSO) at a cut-off grade of 1.5 g/t AuEq plus sensitivities to gold prices.
The difference between the undiluted grade of 6.85 g/t AuEq (Table 5 Indicated base case) and the diluted grade of 4.26 g/t AuEq (Table 4, Total Indicated Target 1 MRE) reflects this conservative mining dilution assumption whereby lower grade mineralisation surrounding the high-grade core would be extracted within geometry of a minable shape adding more tonnes and ounces at a lower average grade. More detailed mining study work will fully assess the mining methods across the Target 1 MRE.
All dollar values in United States Dollars (USD) unless otherwise noted.
Mineral resources were prepared in accordance with the CIM Definition Standards (2014) and Estimation of Mineral Resource and Mineral Reserve Best Practice guidelines (2019), which are materially identical to the JORC Code (2012).
The preparation of the mineral resource estimate was supervised by John Sims, President of Sims Resources LLC, an independent contractor and Qualified Person (QP), and Competent Person (CP), as a Certified Professional Geologist (CPG) member with the American Institute of Professional Geologists (AIPG).
The effective date of the estimate is June 29, 2026.
Inferred Mineral Resources have been estimated from geological evidence and drill core sampling and have a lower level of confidence than Measured and Indicated Mineral Resources due to the distance between sampled drill holes. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
Constrained and diluted Mineral Resources for Copalquin Target 1 are based on underlying metal prices of $3,300/oz Au and $50/oz Ag, unless otherwise noted.
AuEq g/t = Au g/t + (Ag g/t x (Ag price/Au price) x (Ag recovery/Au recovery)), and is calculated using the underlying metals prices, along with metallurgical recoveries of 96% Au and 91% Ag from metallurgical test work on Target 1 composite samples. 11
Underground Resource estimates are based on economically constrained mining shapes generated using Datamine’s Mineable Shape Optimizer (MSO) algorithm and the following optimization parameters:
Diluted to a minimum 2 m shape width with a 92% mining recovery.
Metallurgical recoveries of 96% for Au and 91% for Ag, from metallurgical test work on Target 1 composite samples. Longhole Open Stope mining with a total Mining+Processing+General and Administration (GA) cost of $97/t processed operating cost comprised of $60/t incremental mining, $25/t processing, $10/t GA, and $2/t sustaining.
The mineable shapes reported are valued greater than the incremental cost to mine, which equates to approximately 1.0 g/t AuEq on a fully diluted basis.
Mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.
In the Company’s opinion there is reasonable potential for both gold and silver to be extracted and sold.
Table 5 Gold price sensitivity to constraining shapes, reported at 1.5 g/t AuEq cut-off (constrained and undiluted)
Au Prices
Classification
Tonnes
Gold
Silver
Gold Eq.
Gold
Silver
Gold Eq.
(USD)
(kt)
(g/t)
(g/t)
(g/t)
(koz)
(koz)
(koz)
2,700
Ind
1,888
5.28
126.1
7.08
321
7,654
430
Inf
831
3.46
113.7
5.08
92
3,038
136
3,000
Ind
1,941
5.18
124.2
6.96
323
7,752
434
Inf
863
3.39
111.7
4.98
94
3,099
138
3,300
Ind
1,990
5.10
122.4
6.85
326
7,832
438
Inf
900
3.32
109.1
4.87
96
3,155
141
3,500
Ind
2,038
5.01
120.9
6.74
329
7,922
442
Inf
923
3.27
107.5
4.81
97
3,189
143
4,000
Ind
2,074
4.96
119.7
6.67
330
7,984
445
Inf
949
3.23
105.9
4.74
98
3,233
145
Notes to Table 5:
The Table presents the results of a sensitivity analysis by varying gold prices on AuEq block model values and reports an undiluted tonnage, grade and metal content contained within the mining shapes. The scenarios as presented are not considered to be a statement of mineral resources or reserves, and do not have demonstrated economic viability.
AuEq calculated using metal prices of USD $3,300/oz Au and $50/oz Ag where AuEq g/t = Au g/t + (Ag g/t x (Ag price/Au price) x (Ag recovery/Au recovery)) with metallurgical recoveries of 96% Au and 91% Ag from metallurgical test work on Target 1 composite samples An AuEq cut-off grade of 1.5 g/t was selected after applying 95% mining recovery and 5% dilution factors to the metal price and metallurgical recovery values.
-ENDS-
Released with the authority of the Board.
For further information contact:
The Australian Securities Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Competent Persons Statement (JORC), and Qualified Persons (NI 43-101) Statement
The information in this announcement that relates to metallurgical test results, mineral processing and project development and study work has been compiled, reviewed and approved by Mr John Skeet who is Mithril’s CEO and Managing Director. Mr Skeet is a Fellow of the Australasian Institute of Mining and Metallurgy. This is a Recognised Professional Organisation (RPO) under the Joint Ore Reserves Committee (JORC) Code and Acceptable Foreign Association under NI 43-101.
Mr Skeet has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person (non-independent) as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, and as a Qualified Person (non-independent) as defined by NI 43-101. Mr Skeet consents to the inclusion in this report of the matters based on information in the form and context in which it appears. The Australian Securities Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
The information in this announcement that relates to sampling techniques, sample data, exploration results and geological interpretation for Mithril’s Mexican project, has been compiled, reviewed and approved by Mr James Barr who is Mithril’s Vice President - Exploration. Mr Barr is a registered member and Professional Geologist (P.Geo.) of the Engineers and Geoscientists of British Columbia. This is a Recognised Professional Organisation (RPO) under the Joint Ore Reserves Committee (JORC) Code and recognized Canadian Professional Association under NI 43-101.
Mr Barr has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person (non-independent) as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, and as a Qualified Person (non-independent) as defined by NI 43-101. Mr Barr consents to the inclusion in this report of the matters based on information in the form and context in which it appears.
The information in this announcement that relates to Mineral Resources has been compiled, reviewed and approved by Mr John Sims, a Certified Registered Geologist (CPG) with the American Institute of Professional Geologists (AIPG). This is a Recognised Professional Organisation (RPO) under the Joint Ore Reserves Committee (JORC) Code and Acceptable Foreign Association under NI 43-101.
Mr Sims is acting as the Competent Person (independent), as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, and as the Qualified Person (independent) as defined by NI 43-101, for the reporting of the Upgraded Copalquin Target 1 Mineral Resource Estimate, with effective date of June 29, 2026. A site visit was carried out by Mr Sims, between 5 May 2025 and 7 May 2025 to observe the drilling, logging, sampling and assay database. Mr Sims has reviewed and approved the contents of this report, and consents to the inclusion in this report of the matters based on information in the form and context in which it appears.
The relevant sections of “JORC Code, 2012 Edition - Table 1” as defined by the Joint Ore Reserves Committee (JORC) Code are incorporated into the Public Report announced as an amended version on ASX dated 3 July 2026 - Amended Announcement Copalquin Project Target 1 Deposit MRE.
A NI 43-101 Technical Report entitled “Technical Report and Upgraded Mineral Resource Estimate for the Copalquin Target 1 Area, Durango, Mexico” will be filed on SEDAR+ within 45 days of the release.
Qualified Persons – NI 43-101
Scientific and technical information in this Report has been reviewed and approved by Mr John Skeet (FAUSIMM, CP) Mithril’s Managing Director and Chief Executive Officer. Mr John Skeet is a qualified person within the meaning of NI 43-101.
Samples are sent to ALS Global with sample preparation performed in Chihuahua City, Mexico and assaying of sample pulps performed in North Vancouver, BC, Canada.
JORC Code, 2012 Edition – Table 1
Section 1 Sampling Techniques and Data
Criteria
JORC Code explanation
Commentary
Sampling techniques
Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.
Include reference to measures taken to ensure sample representativity and the appropriate calibration of any measurement tools or systems used.
Aspects of the determination of mineralisation that are Material to the Public Report.
In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.
Drill core samples are cut lengthwise with a diamond saw. Intervals are nominally 1 m but may vary between 0.5 m to 1.5 m based on geologic criteria.
The same side of the core is always sent to sample (left side of saw).
Reported intercepts are calculated as either potentially underground mineable (100m down hole) or as potentially open-pit mineable (near surface).
Potentially underground mineable intercepts are calculated as length weighted averages of material greater than or equal to 1 g/t AuEQ_70 allowing up to 2m of internal dilution.
Potentially open-pit mineable intercepts are calculated as length weighted averages of material greater than or equal to 0.25 g/t AuEQ_70 allowing for up to 2m of internal dilution.
Rock Sawn Channel samples underground and surface are collected with the assistance of a handheld portable saw. The channels are 2.5 to 3cm deep and 6-8 cm wide along continuous lines, oriented perpendicular to the mineralised structure. The samples are as representative as possible
Rock Sawn Channel surface samples were surveyed with a Handheld GPS then permanently mark with an aluminium tag and red colour spray across the strike of the outcrop over 1 metre. Samples are as representative as possible
Rock Sawn Channel underground samples were located after a compass and tape with the mine working having a surveyed control point at the portal, then permanently marked with an aluminium tag and red colour spray-oriented perpendicular to the mineralised structure. Samples are as representative as possible
Soil sampling has been carried out by locating pre-planned points by handheld GPS and digging to below the first colour-change in the soil (or a maximum of 50 cm). In the arid environment there is a 1 – 10 cm organic horizon and a 10 – 30 cm B horizon above the regolith. Samples are sieved to -80 mesh in the field. Samples are collected on a 20 m x 50 m grid or every 20 m on N–S lines 50 m apart. These samples are considered representative of the medium being sampled and lines are appropriately oriented to the near E–W structural trend.
Drilling techniques
Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).
Drilling is done with MP500 man-portable diamond core rigs capable of drilling HQ size core to depths of 350-400m (depending on ground conditions), reducing to NQ size core for greater depths. Core is recovered in a standard tube.
Drill sample recovery
Method of recording and assessing core and chip sample recoveries and results assessed.
Measures taken to maximise sample recovery and ensure representative nature of the samples.
Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.
Drill recovery is measured based on measured length of core divided by length of drill run.
Recovery in holes CDH-001 through CDH-025 and holes CDH-032 through CDH-077 was always above 90% in the mineralised zones. Detailed core recovery data are maintained in the project database.
Holes CDH-026 through CDH-031 had problems with core recovery in highly fractured, clay rich breccia zones.
There is no adverse relationship between recovery and grade identified to date.
Logging
Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.
Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.
The total length and percentage of the relevant intersections logged.
Entire drill holes are logged and sampled by Mithril geologists at the project camp. Logging includes the collection of qualitative data such as host lithology, alteration, mineralogy, and the collection of quantitative data such as oriented structural data, core recovery, and rock quality designation (RQD). Rock properties are measured using magnetic susceptibility, and NIR/SWIR reflectance.
Data is collected into a centralized database using MX Deposit.
Drill core is photographed as wet and dry, before sampling and after the core is sampled, and photos are saved in the company database. Rock sawn channel samples are marked, measured and photographed at location
Soil samplesare recorded at location, logged and described
Sub-sampling techniques and sample preparation
If core, whether cut or sawn and whether quarter, half or all core taken.
If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.
For all sample types, the nature, quality and appropriateness of the sample preparation technique.
Quality control procedures adopted for all sub-sampling stages to maximise representativity of samples.
Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.
Whether sample sizes are appropriate to the grain size of the material being sampled.
Drill core samples are selected by Mithril’s geologists.
Drill core is cut longitudinally in half along an oriented drill core line. One half of the core is retained for company record, and the opposing half is sent for laboratory analysis. Samples lengths are selected to respect important geological contacts, to a minimum length of 0.50m.
Samples are prepared using ALS Minerals Prep-31 crushing (70% passing 2mm), splitting and pulverizing (85% passing 75um, 250g).
Visual review to assure that the cut core is ½ of the core is performed to assure representativity of samples.
Crushed core duplicates are split/collected by the laboratory and submitted for assay (1 in 30 samples)
Sample sizes are appropriate to the grain size of the material being sampled.
Rock sawn channel samples and soilsamplesare prepared using ALS Minerals Prep-31 crushing, splitting and pulverizing. This is appropriate for the type of deposit being explored.
Quality of assay data and laboratory tests
The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.
For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.
Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.
All samples are submitted for 34 element trace ICP-AES analysis using a four-acid digestion (ME-ICP61), and for 30g gold fire assay with atomic adsorption analysis (Au-AA23).
Samples exceeding silver grades of 100 ppm are sent for ore grade analysis (Ag-OG62), and samples with silver grades exceeding 1,500 ppm are sent for fire assay and gravimetric determination (Ag-GRA21).
Samples with gold grades exceeding 10 ppm are send for fire assay and gravimetric determination (Au-GRA21).
Samples with copper, lead or zinc grades exceeding 10,000 ppm are sent for overlimit analysis using four acid digestion and ICP-AES detection (OG61).
Standards and blanks are inserted at a rate of one per every 25 samples and one per every 40 samples, respectively. Pulp duplicate sampling is undertaken for 3% of all samples (see above).
Certified Reference Materials – Rock Labs and CDN CRMs have been used throughout the project including, low (~2 g/t Au), medium (~9 g/t Au) and high (~18g/t Au and ~40 g/t Au). Results are automatically checked on data import into the BEDROCK database to fall within 2 standard deviations of the expected value.
Samples with significant amounts of observed visible gold are also assayed by AuSCR21, a screen assay that analyses gold in both the milled pulp and in the residual oversize from pulverization. This has been done for holes CDH-075 and CDH-077.
Samples are selected in each batch by Mithril geologists for laboratory coarse reject duplicates.
Verification of sampling and assaying
The verification of significant intersections by either independent or alternative company personnel.
The use of twinned holes.
Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.
Discuss any adjustment to assay data.
The verification of significant intersections by either independent or alternative company personnel has not been conducted. A re-assay programme of pulp duplicates is currently in progress.
Mithril has drilled one twin hole. Hole CDH-072, reported in the 15/6/2021 announcement, is a twin of holes EC-002 and UC-03. Results are comparable.
Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols are maintained in the company’s core facility.
Assay data have not been adjusted other than applying length weighted averages to reported intercepts.
Location of data points
Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.
Specification of the grid system used.
Quality and adequacy of topographic control.
Drill collar coordinates are positioned by handheld GPS. Precise differential GPS survey (to sub 10 cm precision) of completed drill hole locations is carried out routinely. Downhole surveys of hole deviation are recorded using a Reflex Multishot tool for all holes. A survey measurement is first collected at 15 meters downhole, and then every 50 meters until the end of the hole.
UTM/UPS WGS 84 zone 13 N
High-quality topographic control from LiDAR imagery and orthophotos covers the entire project area.
Data spacing and distribution
Data spacing for reporting of Exploration Results.
Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.
Whether sample compositing has been applied.
Data spacing is appropriate for the reporting of Exploration Results.
Inferred Mineral Resources are defined within a 70 metre sampling distance, where Indicated Mineral Resources are defined within a 35 metre sample spacing distance.
Samples are composited to 1 metre for exploratory data analysis and mineral resource estimation.
Orientation of data in relation to geological structure
Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.
If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.
Cut lines are marked on the core by the geologists to assure that the orientation of sampling achieves unbiased sampling of possible structures. This is reasonably well observed in the core and is appropriate to the deposit type.
The relationship between the drilling orientation and the orientation of key mineralised structures is not considered to have introduced a sampling bias.
Rock sawn channel samplesare cut perpendicular to the observed vein orientation wherever possible
Sample security
The measures taken to ensure sample security.
Samples are stored in a secure core storage facility until they are shipped off site by small aircraft and delivered directly to ALS Global sample preparation facility in Chihuahua, Mexico. ALS airfreights the sample pulps to their assaying facility in North Vancouver, BC, Canada.
All samples are subject to a traceable chain of custody procedure which tracks and enables verification of sampling handling between the project camp and the laboratory
Audits or reviews
The results of any audits or reviews of sampling techniques and data.
A review with spot checks was conducted by AMC in conjunction with the resource estimate published 17 Nov 2021. Results were satisfactory to AMC.
In conjunction with the Upgraded Mineral Resource Estimate (June 29, 2026), Mr John Sims, of Sims Resources LLC, conducted a site visit between May 5-7, 2025, at which time he observed drilling, core logging and sample collection activities, including a review of the geological database.
Section 2 Reporting of Exploration Results
Criteria
JORC Code explanation
Commentary
Mineral tenement and land tenure status
Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.
The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.
Concessions at Copalquin
No.
Concession
Concession Title number
Area (Ha)
Location
1
LA SOLEDAD
52033
6
Tamazula, Durango, Mexico
2
EL COMETA
164869
36
Tamazula, Durango, Mexico
3
SAN MANUEL
165451
36
Tamazula, Durango, Mexico
4
COPALQUIN
178014
20
Tamazula, Durango, Mexico
5
EL SOL
236130
6,000
Tamazula, Durango and Badiraguato, Sinaloa, México
6
EL CORRAL
236131
907.3243
Tamazula, Durango and Badiraguato, Sinaloa, México
Exploration done by other parties
Acknowledgment and appraisal of exploration by other parties.
Previous exploration by Bell Coast Capital Corp. and UC Resources was done in the late 1990’s and in 2005 – 2007. Work done by these companies is historic and non-JORC compliant. Mithril uses these historic data only as a general guide and does not incorporate work done by these companies in resource modelling.
Work done by the Mexican government and by IMMSA and can be used for modelling of historic mine workings which are now inaccessible (void model). The main workings in the Target 1 area have been drone-LiDAR surveyed.
Geology
Deposit type, geological setting and style of mineralisation.
Copalquin is a low sulfidation epithermal silver-gold deposit hosted in andesite. This deposit type is common in the Sierra Madre Occidental of Mexico and is characterized by quartz veins and stockworks surrounded by haloes of argillic (illite/smectite) alteration. Veins have formed as both low-angle semi-continuous lenses parallel to the contact between granodiorite and andesite and as tabular veins in high-angle normal faults. Vein and breccia thickness has been observed up to 30 meters wide with average widths on the order of 3 to 5 meters. The overall strike length of the semi-continuous mineralised zone from El Gallo to Refugio, Cometa, Los Pinos, Los Reyes, La Montura to Constancia and Santa Cruz is almost 7 kilometres. The southern area from southwest of Apomal to San Manuel and to Las Brujas-El Peru provides additional exploration potential up to 6km.
Drill hole Information
A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:
easting and northing of the drill hole collar
elevation or RL (Reduced Level – elevation above
sea level in metres) of the drill hole collar
dip and azimuth of the hole
down hole length and interception depth
hole length.
If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.
See Table 2 and Figures in this Announcement
Data aggregation methods
In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated.
Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.
The assumptions used for any reporting of metal equivalent values should be clearly stated.
Potentially underground mineable intercepts are calculated as length weighted averages of material greater than or equal to 1 g/t AuEQ as per the formula below and with up to 30%, up to 3m, of internal dilution.
No upper cut-off is applied to reporting intercepts.
Length weighted averaging is used to report intercepts. The example of CDH-002 is shown. The line of zero assays is a standard which was removed from reporting.
Au
Raw
Ag
raw
Length
(m)
Au
*length
Ag
*length
7.51
678
0.5
3.755
339
11.85
425
0.55
6.5175
233.75
0 0 0 0 0 0.306
16
1
0.306
16
0.364
31.7
1
0.364
31.7
3.15
241
0.5
1.575
120.5
10.7
709
0.5
5.35
354.5
15.6
773
0.5
7.8
386.5
From
To
Length
Au g/t
Ag g/t
4.55
25.667
1481.9
91.95
96.5
4.55
5.64
325.7
Constrained and diluted Mineral resources for Copalquin Target 1 (June 2026) are based on underlying metal prices of $3,300/oz Au and $50/oz Ag, unless otherwise noted.
AuEq g/t = Au g/t + (Ag g/t x (Ag price/Au price) x (Ag recovery/Au recovery)) calculated using the underlying metals prices, along with metallurgical recoveries of 96% Au and 91% Ag from metallurgical test work on Target 1 composite samples. (ASX Announcement 25 February 2022).
Relationship between mineralisation widths and intercept lengths
These relationships are particularly important in the reporting of Exploration Results.
If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.
If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).
True widths at Refugio between sections 120 and 1,000 vary according to the hole’s dip. Holes drilled at -50 degrees may be considered to have intercept lengths equal to true-widths, Holes drilled at -70 degrees had true widths approximately 92% of the reported intercept lengths and holes drilled at -90 degrees had true widths of 77% of the reported intercept lengths.
True widths at La Soledad are not fully understood and downhole intercepts to date, are reported.
At Las Brujas in Target 2, true widths are not yet known since we are still in the early stages of target definition.
Rock sawn channel samplesare cut perpendicular to the observed vein orientation wherever possible
Diagrams
Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.
See figures in announcement
Balanced reporting
Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.
All exploration results are reported for intercepts greater than or equal to 0.1 g/t gold equivalent (gold plus silver at according to: AuEq g/t = Au g/t + (Ag g/t x (Ag price/Au price) x (Ag recovery/Au recovery)) calculated using the underlying metals prices, along with metallurgical recoveries of 96% Au and 91% Ag from metallurgical test work on Target 1 composite samples. (ASX Announcement 30 June 2026).
Other substantive exploration data
Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.
No additional exploration data are substantive at this time.
Metallurgical test work on drill core composite made of crushed drill core from the Target 1 drill hole samples has been conducted.
The samples used for the test work are representative of the material that makes up the majority of the Target 1 Mineral Resource Estimate
The test work was conducted by SGS laboratory Mexico using standard reagents and test equipment.
Samples have been selected from drill core produced for Target 1 over the past 2 years. Test work to confirm the previous results will be conducted as well as variability work.
Further work
The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling).
Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.
The Company drilled 148 diamond core holes from July 2020 to July 2022 for 32,712 m. The Company has stated its target to drill up to 45,000m from July 2025 until the second half of 2026 which has been completed.
The Company has stated it has 12,000 metres of drilling to complete in the second half of 2026 which is in progress.
Diagrams are included in the announcements and presentations showing the drill target areas within the Copalquin District.
1 AgEq calculated using metal prices of USD $3,300/oz Au and $50/oz Ag where AgEq g/t = Ag g/t + (Au g/t x (Au price/Ag price) x (Au recovery/Ag recovery)) with metallurgical recoveries of 96% Au and 91% Ag.
2 See ASX Announcement dated 19 August 2024, “MTH Drills 17.95 Metres at 5.16 g/t Gold and 78.0 g/t Silver”
3 See ASX Announcement dated 28 August 2025, “MTH ACCELERATES EXPLORATION WITH NEW DRILLING AT TARGET 5”
4 See Copalquin – ‘Upgraded Target 1 MRE’ section at the end of this announcement
5 See Announcement 5 December 2025, MITHRIL TO ACQUIRE THE LA DURA GOLD-SILVER PROPERTY
6 See Announcement 25 February 2026, MITHRIL LIDAR STUDY REVEALS 1.5 KM TREND & HISTORIC MINES
7 AuEq calculated using metal prices of USD $3,300/oz Au and $50/oz Ag where AuEq g/t = Au g/t + (Ag g/t x (Ag price/Au price) x (Ag recovery/Au recovery)) with metallurgical recoveries of 96% Au and 91% Ag.
8 AgEq calculated using metal prices of USD $3,300/oz Au and $50/oz Ag where AgEq g/t = Ag g/t + (Au g/t x (Au price/Ag price) x (Au recovery/Ag recovery)) with metallurgical recoveries of 96% Au and 91% Ag.
9 See announcement dated June 10, 2026, “Mithril Drills 4.01 g/t gold, 225 g/t silver over 7.25 m including 15.25 g/t gold, 533 g/t silver over 0.5 m at Target 1, Copalquin”
10 see announcement dated April 9, 2026, “Mithril Confirms high-grade and widespread silver and gold at Target 3, Copalquin Project”
11 See ASX announcement dated 25 February 2022, “Further Excellent Metallurgy Results – Copalquin District, Mexico”
CARLSBAD, Calif., Aug. 27, 2026 (GLOBE NEWSWIRE) -- Aptera Motors Corp. (Nasdaq: SEV), a solar mobility company advancing ultra-efficient transportation, announced today that TÜV Rheinland has independently measured the daily solar energy generation of Aptera’s solar electric vehicle. Over three consecutive days of on-site testing in Southern California in July, the vehicle delivered more than 4 kilowatt-hours (kWh) of usable solar energy into its battery pack on every test day.
TÜV Rheinland is one of the world’s leading independent testing and certification organizations, founded in Germany in 1872 and operating from roughly 500 locations in more than 50 countries. It has tested and certified solar technology since 1982, and its findings are relied upon across the global solar industry by investors, lenders, and buyers.
Aptera is an electric vehicle that can be charged from any standard outlet or charging station. What sets it apart from other electric and hybrid vehicles are integrated solar panels capable of providing meaningful range by charging from the sun. Aptera has long stated a target of achieving up to approximately 40 miles of solar range per day at 100 watt hours per mile, or 4.0 kWh of useable energy, under favorable conditions. Now TÜV Rheinland’s tests have exceeded this metric on three separate test days.
The bar TÜV Rheinland measured against was 4.0 kWh of usable energy delivered to the battery in a single calendar day. Their solar expert Dr. Giorgio Bardizza was on site at Aptera’s final assembly facility in Carlsbad, California for three separate days in July, each day testing a different scenario at Aptera’s request, measuring from sunrise to sunset with their own calibrated instruments. In each case the energy was measured where it entered the battery, after conversion losses, rather than at the panels. The solar range figures below are calculated from that measured energy, assuming Aptera’s targeted 100 watt-hours per mile vehicle efficiency.
Parked and untouched. Fixed position, hatch closed, left completely alone all day. 4.23 kWh, roughly 42 miles estimated of solar range.Repositioned once at solar noon. Turned a single time when the sun was highest, the way an owner might park facing the other direction after lunch. 4.40 kWh, roughly 44 miles of estimated solar range.Solar maxxed. Rear hatch raised and angled toward the sun through the day. 4.75 kWh, roughly 47 miles of estimated solar range, achieved on the day with the least available sunlight of the three.
Even without repositioning the vehicle at all, the measured energy exceeded Aptera’s stated daily solar target. Every additional condition tested widened the margin. These results reflect clear July conditions in Southern California; actual daily solar contribution will vary with weather, geographic location, parking orientation, and season.
Aptera and TÜV Rheinland have published the complete test report so anyone can review the methodology, instrumentation, and full data set. The full report is available here, and a video documenting the testing is available on Aptera’s YouTube channel.
“When American innovation turns sunlight into miles, independent testing helps turn that promise into confidence,” said Jonathan Kotrba, Vice President of Products at TÜV Rheinland North America. “TÜV Rheinland is proud to help advance the next generation of solar technology.”
“The most exciting result is the day we simply parked the vehicle in the sun and let it do the work,” said Steve Fambro, Co-Founder and Co-CEO of Aptera. “We built this system because we believed the sun could do this much work, and now an independent lab has measured it. Solar mobility is here.”
This tested solar power system is Aptera’s own work end to end, spanning the compound-curved panel architecture, a proprietary multi-channel solar charge controller with custom firmware, and the vehicle’s power distribution architecture. That full-stack ownership is what allowed the system to be optimized and verified as a complete power production unit.
“A technology that can reshape how the world moves has now been independently verified,” said Chris Anthony, Co-Founder and Co-CEO of Aptera. “For drivers in sunny climates, that means everyday driving powered by the sun instead of fuel or the grid. This is the high standard we’re holding ourselves to as we move toward production.”
Aptera’s validation program continues, with further independent validation work planned on a range of vehicle performance metrics.
About Aptera Motors Corp.
Aptera Motors Corp. (Nasdaq: SEV) is a solar mobility company driven by a mission to advance the future of efficient transportation. Its flagship vehicle is conceived to be a paradigm-shifting solar electric vehicle that leverages breakthroughs in aerodynamics, material science, and solar technology to pursue new levels of efficiency. As a public benefit corporation, Aptera is committed to building a sustainable business that positively impacts its stakeholders and the environment. Aptera is headquartered in Carlsbad, California. For more information, please visit www.aptera.us.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Words such as “expect,” “anticipate,” “believe,” “target,” “intend,” “plan,” “will,” “may,” “could,” “should,” and variations of these terms or the negative of these terms and similar expressions are intended to identify forward-looking statements. These statements include, without limitation, statements regarding the expected solar energy generation and efficiency of Aptera’s vehicles, the anticipated daily solar range of those vehicles, Aptera’s targeted 100 watt-hours per mile energy efficiency, the expectation that daily solar generation can power a meaningful portion of everyday driving for owners in sunny climates whose daily mileage falls within the solar contribution, the potential for solar energy to displace fuel or grid electricity in everyday driving, the progress of Aptera’s validation program, the timing of start of production, and the timing of customer deliveries.
Forward-looking statements are based on Aptera’s current expectations and inherently involve significant risks and uncertainties, many of which involve factors or circumstances beyond Aptera’s control. Actual results could differ materially from those stated or implied due to a number of factors, including without limitation: the results described in this release reflect a single validation vehicle tested on three specific days at a single location and may not be representative of vehicles Aptera intends to produce or of performance in other locations, seasons, or weather conditions; solar energy generation varies with irradiance, shading, ambient temperature, vehicle orientation, and parking behavior; individual driving patterns vary and daily solar generation may not cover a given owner’s typical driving; Aptera may not achieve its targeted 100 watt-hours per mile energy efficiency in production vehicles, and range figures derived from that target are estimates rather than measured driving range; the testing described in this release was an on-site witnessing service and does not constitute certification of the vehicle, of any component, or of compliance with any regulatory standard; risks related to design changes between validation vehicles and production vehicles; manufacturing, tooling, supply chain, and supplier performance risks; the need for substantial additional capital to complete development and commence production, and the substantial doubt about Aptera’s ability to continue as a going concern described in its filings with the SEC; potential dilution to existing shareholders from sales of shares under Aptera’s equity line of credit and from other equity financings; regulatory and homologation requirements; competition; and the other risks detailed in Aptera’s filings with the SEC, including the “Risk Factors” sections of its Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. The forward-looking statements included in this press release represent Aptera’s views as of the date of this press release. Aptera anticipates that subsequent events and developments will cause its views to change. Aptera undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. These forward-looking statements should not be relied upon as representing Aptera’s views as of any date subsequent to the date of this press release.
BELVIDERE, NJ, Aug. 27, 2026 (GLOBE NEWSWIRE) -- Edible Garden AG Incorporated (“Edible Garden” or the “Company”) (Nasdaq: EDBL, EDBLW), a leader in controlled environment agriculture (CEA), organic and sustainable produce, and developer of the Zero-Waste Inspired® mission and Farm-to-Formula® platform today announced that it has been awarded an expanded fresh herb program with Target for the upcoming Thanksgiving through New Year holiday season.
The program is designed to meet increased consumer demand for fresh herbs during one of the most important selling periods of the year for the category. Holiday cooking typically drives increased demand for many of Edible Garden’s core fresh herb offerings, including rosemary, sage, thyme, parsley, and poultry-blend herbs. Edible Garden is working closely with Target on the program across product assortment, production planning, packaging, merchandising, logistics, and replenishment, with preparations already underway for the holiday season.
To support the program, Edible Garden plans to leverage its vertically integrated production facilities, strategically located contract grower network, advanced demand-planning capabilities, and proprietary GreenThumb 2.0 technology. By coordinating production and distribution more closely with anticipated retail demand, the Company’s platform is designed to support product freshness and availability while providing the flexibility and dependable fulfillment required during periods of elevated demand.
“This award represents an important expansion of our longstanding relationship with Target and reflects the confidence one of the world’s largest retailers has placed in Edible Garden’s ability to execute during the most demanding period of the fresh herb calendar,” said Jim Kras, Chief Executive Officer of Edible Garden. “Successfully supporting holiday demand at this scale requires months of coordinated planning across production, packaging, logistics, and replenishment, and our fulfillment rate of more than 98% during last year’s Thanksgiving period demonstrates our ability to perform when demand is at its highest. We believe this expanded program validates the investments we have made in our production platform, distribution network, and GreenThumb technology, while providing an opportunity to deepen our relationship with Target, drive greater volume through our growing network, and further establish Edible Garden as a trusted supply-chain partner to major retailers.”
Edible Garden’s GreenThumb 2.0 platform, together with its network of Company-operated facilities and strategically located contract growers, is designed to more closely align production with anticipated retail demand. This data-driven, localized approach supports the Company’s Zero-Waste Inspired® strategy by helping maintain product freshness and availability while reducing food miles, excess inventory, and shrink throughout the supply chain.
Key Performance Indicator
This press release contains reference to the Company’s fulfillment rate, which is a key performance metric management uses to analyze and measure the Company’s financial performance and results of operation. Management uses fulfillment rate as a measure of current and future business and financial performance, and it may not be comparable with measures provided by other companies. The Company defines fulfillment rate as the percentage of orders filled in full, relative to the total number of orders received during the period.
ABOUT EDIBLE GARDEN®
Edible Garden AG Incorporated is a leader in controlled environment agriculture (CEA), delivering organic, better-for-you, sustainable produce and products through its Zero-Waste Inspired® next-generation farming model. Available in over 6,000 retail locations across the United States, Caribbean, and South America, Edible Garden is at the forefront of the CEA and sustainability technology movement, distinguished by its advanced safety-in-farming protocols, sustainable packaging, patented GreenThumb software, and innovative Self-Watering in-store displays. The Company operates state-of-the-art, vertically integrated greenhouses and processing facilities, including Edible Garden Heartland in Grand Rapids, Michigan; Edible Garden Prairie Hills in Webster City, Iowa; and its headquarters at Edible Garden Belvidere in New Jersey. It also partners with a network of contract growers strategically located near major U.S. markets to ensure freshness and reduce environmental impact. The Company is also expanding its Prairie Hills facility in Webster City, Iowa, into a dedicated ready-to-drink (RTD) clean nutrition manufacturing hub, supporting its Farm-to-Formula® strategy and its transformation into higher-margin, shelf-stable nutrition categories.
Edible Garden’s proprietary GreenThumb 2.0 software—protected by U.S. Patents US 11,158,006 B1, US 11,410,249 B2, and US 11,830,088 B2—optimizes vertical and traditional greenhouse growing conditions while aiming to reduce food miles. Its patented Self-Watering display (U.S. Patent No. D1,010,365) is designed to extend plant shelf life and elevate in-store presentation. In addition to its core CEA operations, Edible Garden owns three patents in advanced aquaculture technologies: a closed-loop shrimp farming system (US 6,615,767 B1), a modular recirculating aquaculture setup with automated water treatment and feeding (US 10,163,199 B2), and a sensor-driven ammonia control method utilizing electrolytic chlorine generation (US 11,297,809 B1).
The Company has been recognized as a FoodTech 500 firm by Forward Fooding, is a multi-year participant in Walmart’s Project Gigaton and a Giga Guru designee and has received NRG’s Excellence in Energy Award for its commitment to measurable environmental performance and energy stewardship. Edible Garden also develops and markets a growing line of nutrition and specialty food products, including Vitamin Way® and Vitamin Whey®—plant and whey protein powders—and Kick. Sports Nutrition, a premium performance line for health-conscious athletes seeking cleaner, better-for-you options. The Company’s offerings further include fresh, sustainable condiments such as Pulp fermented gourmet and chili-based sauces, as well as Pickle Party, a collection of fermented fresh pickles and krauts.
Learn more at https://ediblegardenag.com.
For Pulp products, visit https://www.pulpflavors.com.
For Vitamin Whey® products, visit https://vitaminwhey.com.
For Kick. Sports Nutrition products, visit https://kicksportsnutrition.net/.
Watch the Company’s latest corporate video here.
FORWARD-LOOKING STATEMENTS
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as “believe,” “expect,” “intend,” “expand,” “advance,” “designed to,” “opportunity,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these words. These statements include, without limitation, statements regarding the level and durability of inbound retailer interest and the Company’s ability to convert that interest into new or expanded distribution programs, the Company’s available capacity and ability to service additional retail volume, the expected effect of the Company’s cost reduction and automation initiatives on operating margins, the continued growth of the Company’s fresh cut herb and USDA Organic product lines, the development of the Company’s ready-to-drink manufacturing facility in Webster City, Iowa, and the Company’s Farm-to-Formula® strategy. There can be no assurance that any inbound interest will result in binding agreements, incremental revenue or improved margins. Forward-looking statements are based on the Company’s current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied, including those described in the “Risk Factors” section and other sections of the Company’s reports filed with the Securities and Exchange Commission. All forward-looking statements speak only as of the date on which they are made, and the Company undertakes no duty to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Matthew A. Liegel, Chief Accounting Officer, sold 926 shares of Target Corporation (TGT -1.66%)on Aug. 21, 2026, for a total value of ~$151,410, as disclosed in a recent SEC Form 4 filing.
Transaction summaryMetricValueShares sold926Transaction value~$151,410Post-transaction shares (directly held)12,266Post-transaction value$2.03 millionTransaction value based on SEC Form 4 weighted average sale price ($163.51); post-transaction value based on Aug. 21, 2026 market close ($165.44).
Key questionsWhat is the significance of this transaction relative to the insider's total equity holdings?
The sale of 926 shares represents 7% of Matthew A. Liegel's direct equity position, which indicates a minor adjustment to his total investment in the company.How does the current transaction price align with Target Corporation's market performance?
The weighted-average execution price of $163.51 was reached as the stock delivered a 70% return over the 12-month period ending Aug. 21, 2026.What is the current valuation of the insider's remaining direct equity stake?
Following the transaction, the Chief Accounting Officer continues to hold 12,266 shares, valued at $2.03 million based on the Aug. 21, 2026, market close.Company OverviewMetricValueShare Price (as of market close 2026-08-21)$165.44Market Capitalization$75.1 billionRevenue (TTM)$107.7 billionNet Income (TTM)$4.4 billionCompany SnapshotTarget operates a comprehensive general merchandise retail platform offering food, clothing, household goods, electronics, and toys through proprietary brands including Cat & Jack, Good & Gather, Hearth & Hand with Magnolia, and over 50 additional owned labels that drive differentiation and margin expansion.The company generates revenue through a multi-channel retail model combining physical store locations with digital commerce capabilities, leveraging its extensive distribution network and owned brands to capture market share across discount retail and specialty categories.Target serves a broad consumer base spanning middle-income households seeking value-oriented general merchandise, with particular strength in apparel, home furnishings, and grocery categories, supported by approximately 400,000 employees across its store and distribution infrastructure.Target Corporation is a leading discount retailer with $107.7 billion in TTM revenue and a market capitalization of $75.1 billion, positioning it as a significant player in the consumer defensive sector. The company's competitive advantage derives from its extensive portfolio of owned brands, omnichannel distribution capabilities, and operational scale, which collectively enable margin expansion and customer loyalty in an increasingly competitive retail environment. With a 70.45% one-year stock price appreciation, Target has demonstrated strong operational execution and capital allocation discipline.
What this transaction means for investorsInvestors should remain mindful that insider transactions are never the final word on a stock. Indeed, since many transactions are triggered for reasons unrelated to a company's performance -- tax withholdings, pre-arranged sales, etc. -- it's important to dig deeper and examine a company's fundamentals. With that in mind, let's have a closer look at Target (TGT).
First, Target stock has massively underperformed the broader stock market over the last five years. Since 2021, Target has generated a total return of -23%, equating to a compound annual growth rate of -5.1%. The S&P 500, meanwhile, has delivered an 84% total return, with a 12.9% CAGR.
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However, as bad as these numbers seem, most of the underperformance occurred in the first two years of the comparison. Since 2023, TGT stock has delivered positive total returns, but it has still underperformed the S&P 500. One reason for the underperformance is that Target's margins have tightened since 2021 and have only recently begun to bounce back. In 2021, operating margin stood at 8.7%. However, by 2023, they had fallen to 3.5%. Now, operating margins have rebounded to 5.7% as the company has modernized its supply chain.
Looking ahead, Target still faces stiff competition from Amazon and Walmart, as well as macroeconomic headwinds from stubbornly high inflation and trade uncertainty. However, with a price-to-earnings (P/E) multiple of only 17x and a dividend yield of 2.8%, value and income-oriented investors may be keen to give this retail stock strong consideration.
Target just posted its strongest quarter in years, and shares have already surged 78% in 2025, yet Wall Street still refuses to turn bullish. Here is why that skepticism could be the biggest opportunity hiding in plain sight.
Target (NYSE:TGT | TGT Price Prediction) finally gave shareholders something to cheer about. Q2 fiscal 2027 revenue grew 5.27% year over year, comparable sales rose 3.8%, and traffic climbed 3.6% after multiple quarters of declines.
Shares are up 78.51% year to date, yet the stock still trades below its 2021 highs. CEO Michael Fiddelke told investors the turnaround is “just getting started.” Can this run push TGT to $200 by 2027? Here is the math.
Why the Rally Could Still Stall From Here TGT has already ripped. Shares gained 25.14% in the past month and 12.5% in the past week alone, closing near the 52-week high of $170.75. The stock gave back 3.84% in the most recent session, a reminder that easy money after an earnings pop is rarely truly easy.
Over five years, TGT is still down 20.91%, and the $1.65 per share tariff refund benefit flattered Q2 results. Beta of 0.97 suggests limited help from a beta-driven melt-up. Home and apparel, two big segments, remain “not where it needs to be” in management’s own words.
Wall Street Skeptical While Our Model Sees 10% Upside The Street’s average price target sits at $161.62, essentially below today’s $163.36. Ratings break down as 2 strong buy, 10 buy, 23 hold, 0 sell, and 3 strong sell. Only 32% of analysts are bullish.
Our internal model, running high confidence at 0.9, sees a base case of $180.42 (upside of 10.3%), an optimistic case of $188.60, and a bearish case of $148.22. Analysts have been slow to update after four straight EPS beats, setting up consensus targets to play catch-up.
Path to $200 Per Share Reaching $200 from today’s price of $163.36 would require a gain of 22.4%. With forward EPS of $8.94, $200 implies a forward P/E of 22x. Our base case of $180.42 already implies 20x, meaning $200 requires roughly 2.9x of additional multiple expansion.
Achievable if the turnaround narrative holds. Management raised full-year EPS guidance to $9.90 to $10.90 and net sales growth to approximately 5%. Digital comparable sales grew 8.7%, and non-merchandise revenue (Roundel, Target Circle 360, Target+) grew over 20%.
Fiddelke said results give management “increasing confidence that the investments we continue to make… will support continued growth on both our top and bottom line.” Multiple financial outlets have declared the turnaround real. Primary risk: home and apparel remain drags that could reset expectations if progress stalls.
Current Valuation in Context At $163.36, TGT trades at a forward P/E of 18x on $8.94 forward EPS. That is a reasonable multiple for a Dividend King with reaccelerating comps. Shares sit just below the 52-week high of $170.75 and well above the 52-week low of $81.20.
Over ten years, TGT has returned 226.45%. If EPS scales toward the high end of guidance, today’s multiple looks conservative for a business finally showing traffic-driven growth.
Is $200 Realistic? My Verdict Reaching $200 requires a gain of 22.4% from here. It is realistic but not automatic.
Three things need to go right: home and apparel need to stabilize, digital and same-day delivery need to keep growing north of 25%, and management needs to resume buybacks against the $8.3 billion remaining authorization. A consumer slowdown that stalls the traffic recovery just as expectations reset higher derails it. We’ve outlined the blueprint for how Target could reach $200 in 2027.
Contact [email protected] for any questions or corrections.
Nvidia just posted 105% revenue growth yet its stock is barely moving, and Wall Street's price targets tell a story that gets more surprising the further out you look.
NVIDIA (NASDAQ:NVDA | NVDA Price Prediction) sits at the center of the largest infrastructure buildout in modern history, yet shares are up just 12.55% year to date to $209.66, even after Q2 FY2027 revenue of $96.221 billion grew 105.85% year over year and Data Center revenue hit $89.023 billion.
CEO Jensen Huang framed it bluntly: “AI has reached its inflection point. It’s doing useful work. Its tokens are productive and profitable. Now, compute is revenue.” Can NVDA push to $350 per share by the end of 2027?
Why NVDA Shares Are Stuck Despite a Blowout Quarter NVIDIA fell 3.63% in the past week and gained 6.69% over the past month, well below what a 105% revenue beat would normally trigger. Historical earnings reactions explain part of it: NVDA has logged six earnings beats and zero misses with an average one-week change of -2.68%.
Investors are also grinding on three overhangs. Gross margin is guided down to 74% in Q3 with a Q4 trough of 71% to 72% on memory pricing. Supply commitments jumped to $279 billion. With a beta of 2.215, every macro wobble hits harder here than elsewhere.
Wall Street Sees 45% Upside. My Model Sees More Consensus is bullish. The average analyst price target sits at $304.73, with 10 Strong Buy, 48 Buy, 2 Hold, and 1 Sell ratings. Our internal base case lands at $285.68, or 36.26% upside, with a bull scenario of $326.58 and a bear of $244.22. Confidence is high (0.9).
Bernstein raised the firm’s price target on Nvidia to $400 from $315 and keeps an Outperform rating while Morgan Stanley raised the firm’s price target to $300 from $288 and keeps an Overweight rating on the shares. Raymond James raised the firm’s price target to $515 from $352 and keeps a Strong Buy rating on the shares
Analysts are modeling for a normal semiconductor cycle. With 95% bullish analyst sentiment and YoY earnings growth contribution of 2.145, the setup is closer to a platform inflection than a cyclical peak. Consensus may be too conservative.
Path to $350 Per Share Reaching $350 from today’s price of $209.66 would require a gain of 66.9%. With forward EPS of $9.91, a price of $350 implies a forward P/E of 35x. Our base case of $285.68 already implies 30x, meaning the bold target needs roughly 5x of additional multiple expansion.
That is a stretch, but not fantasy. NVIDIA guided Q3 revenue to $108 billion and told investors fiscal 2028 revenue will grow roughly 70% year over year, described as supply-constrained.
The revenue opportunity per gigawatt steps up from $25 billion for Blackwell to $40 billion for Vera Rubin. Add $500 billion of third-party capital from Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKR, plus hyperscaler capex reaching nearly $800 billion in 2026 and $1.3 trillion in 2027, and the forward P/E compression math works.
Huang added that customer forecasts point to doubling next year on unconstrained demand. The primary risk is a memory-driven margin trough deeper than the guided 71% to 72% in Q4.
Where NVDA Trades Today vs Its Earnings Power At $209.66 against forward EPS of $9.91, NVDA trades at roughly 21x forward earnings. That is cheaper than the S&P 500’s premium tech basket despite operating margin of 65.6% and net income growth of 125.9%.
Shares are hovering between the 52-week high of $236.26 and low of $163.85. NVDA is up 13,660.88% over the past decade. The multiple is compressing while the earnings base explodes higher.
Is $350 Realistic? My Verdict Reaching $350 requires a 66.9% gain and a forward multiple of 35x. That is a reachable stretch.
Three things need to go right: gross margin needs to recover off the Q4 trough back toward 72% to 73% in fiscal 2028, Vera Rubin has to deliver the fastest product ramp in NVIDIA’s history, and hyperscaler capex needs to hold near the projected $1.3 trillion for 2027. A serious credit event across the AI-lab ecosystem would derail it. We’ve outlined the blueprint for how NVIDIA could reach $350 in 2027.
Contact [email protected] for any questions or corrections.
Figma has lost more than half its value since IPO even as revenue growth accelerated, creating a rare tension between a beaten-down chart and fundamentals that are quietly getting stronger. Here is why the setup may be more interesting than…
Figma (NYSE:FIG) has been one of the most whiplash-inducing stories in software this year. After IPO’ing to euphoria, the stock is now down 61.26% over the past year and 27.03% year to date, even as revenue growth accelerated to 48% year over year in Q2. Wall Street’s consensus target sits at $30.80. I think that number is too conservative.
Figma currently trades at $27.27. Our 24/7 Wall St. price target for Figma is $40 over the next 12 months, implying roughly 47% upside. Our research view is constructive, with moderate-to-high confidence given the pace of AI monetization and the fact that the sell-off has compressed the multiple meaningfully.
24/7 Wall St. Price Target Summary Metric Value Current Price $27.27 24/7 Wall St. Price Target $40.00 Upside 46.7% Research View Constructive Confidence Level 70% How a 48% Grower Ended Up in the Bargain Bin Figma’s chart tells a story of expectations collision. Shares hit a 52-week high of $72.11 and a low of $16.60 within the same year. Recent price action has been constructive, with FIG up 29.12% over the past month and 4.84% in the last week.
In Q2, Figma delivered $370 million in revenue, a net dollar retention rate of 136%, and non-GAAP operating income of $36 million. Management raised the full-year outlook to $1.463 billion to $1.467 billion, an increase of $40 million. The disconnect between fundamentals and price is the setup.
Why Bulls See a Breakout to $50+ The bull thesis is straightforward: Figma is turning into an AI infrastructure story with a design front-end. Approximately 80% of customers with more than $10,000 in ARR were drawing down AI credits weekly, and more than 50% of paid customers with more than $10,000 in ARR were using the Figma agent weekly. Paid customers with over $100,000 in ARR grew 46% year-over-year.
CEO Dylan Field said “the opportunity is bigger than even we expected“. Non-GAAP gross margin held at 85%, and free cash flow was $53 million for the quarter. If AI credit consumption compounds through 2027 and Figma Agent, Make, and Code Layers transition from beta to paid, a $50 to $55 stock is within reach.
Risks Worth Watching Figma trades at 11.41x trailing sales and a forward P/E of 93x. Reported EPS is -$4.4, and TTM operating margin is -31.7%. Bulls counter that GAAP results reflect stock-based compensation from a recent IPO and heavy AI investment, while non-GAAP operating margin was 10% in Q2.
Competitive pressure from Adobe, Canva, and AI-native coding tools is real. A downside scenario, where AI monetization stalls, points to $22.
How Figma Compares to Adobe and Atlassian Adobe (NASDAQ:ADBE | ADBE Price Prediction) is the incumbent competitor and natural valuation anchor. Adobe trades at a forward P/E of 10x and P/S of 4x, but revenue grew just 12.7% last quarter. Figma is growing nearly 4x faster, warranting a premium, but the size of that premium is the debate.
Atlassian (NASDAQ:TEAM) is a better growth-oriented comparable. TEAM sports a forward P/E of 32x, a P/S of 6.6x, and revenue growth of 27.6%. Figma grows faster and carries higher gross margin, supporting pricing above TEAM’s multiple. On that framing, the 24/7 Wall St. price target of $40 looks reasonable rather than aggressive.
Company Forward P/E Revenue Growth YoY Figma 93x 48% Adobe 10x 12.7% Atlassian 32x 27.6% Where the Risk-Reward Points The 24/7 Wall St. price target is $40, the research view is constructive, and confidence is 70%. The factor tipping the scale is AI credit consumption, already producing revenue rather than sitting in a roadmap.
The bull case rests on whether Figma Agent and Make can compound weekly usage into 2027. The bear case assumes enterprises will cap AI budgets and lean on coding-first tools instead. On balance, the risk-reward at $27.27 favors owners.
Year 24/7 Wall St. Price Target 2026 $40 2027 $52 2028 $64 2029 $76 2030 $88 These projections assume Figma continues executing on AI monetization and sustains 30%-plus revenue growth through 2028. Significant upside or downside could result from acceleration or stalling of Figma Agent adoption and enterprise credit expansion.
Contact [email protected] for any questions or corrections.
Three dividend payers trade at forward multiples that undercut their trailing ones, but the earnings rebuilds powering that setup come with very different risks attached to each name.
Wall Street loves a stock that gets cheaper the further you look out. Three NYSE-listed dividend payers currently fit that setup: their forward price-to-earnings multiples sit at or below their trailing multiples, meaning analysts expect earnings power to grow into today’s price. The clearest example is Dow, which carries a forward P/E of 12 against a trailing multiple that is effectively unmeasurable because trailing EPS is negative. Here is how the income case stacks up for all three.
Dow: A Chemicals Cyclical Rebuilding Earnings Power Dow (NYSE:DOW | DOW Price Prediction) pays a quarterly dividend of $0.35 for an annual yield of 4.45%. Shares trade at a forward P/E of 12, well below where trailing earnings can support a multiple given a diluted TTM EPS of -$1.76.
Dividend safety can be a real sticking point here. Dow cut its quarterly payout from $0.70 to $0.35 beginning with the August 29, 2025 ex-date, so the current level reflects a reset, not a streak. What has improved is coverage: Q2 2026 net sales of $12.1 billion rose 20% year over year, operating EBITDA reached $2.3 billion, and free cash flow was $692 million against $253 million returned via dividends. Management is guiding to roughly $1.7 billion of Q3 EBITDA and more than $1.3 billion of self-help benefits this year, with approximately $14 billion of total available liquidity and no substantive debt maturities until 2029.
For the bull case, a lower payout is a healthier payout, and Transform to Outperform is targeting a $2 billion opportunity by the end of next year that should widen dividend coverage as polyethylene margins normalize. On the other hand the risk is relatively straightforward: Dow is a global chemicals cyclical facing industry overcapacity and softer North American polyethylene pricing, so another leg down in the cycle would test the reset payout again.
U.S. Bancorp: A Regional Bank With Widening Margins and a Growing Payout U.S. Bancorp (NYSE:USB) yields 3.33% on a $0.52 quarterly dividend, and trades at a forward P/E of 12 versus a trailing P/E of 12. Investors are paying slightly less for next year’s earnings than for the last twelve months.
Coverage looks solid. Trailing diluted EPS is $5.04 against a $2.08 annualized dividend, leaving room to grow the payout, which is exactly what management is doing. The Q3 2025 dividend rose from $0.50 to $0.52, and a further roughly 4% increase is planned for Q3 2026 pending board approval. Second-quarter fundamentals support that: EPS of $1.35 was up about 22% year over year, net interest income of $4.4 billion grew 7.5%, the CET1 ratio stood at 10.8%, and management sees a path toward a 3% net interest margin next year.
For income investors, USB is the classic combination: a growing dividend, a payout ratio comfortably below half of EPS, and a business whose return on tangible common equity of 18.7% supports continued increases. The caveat here is credit with commercial real estate and office nonperforming loans remaining a watch item. Also, the $160 million reserve build tied to the Amazon small-business portfolio is a reminder that new balance-sheet exposure comes with new provisioning.
Target: Half-Century Dividend Record Meets a Cheaper Forward Multiple Target (NYSE:TGT) yields 2.79% on a $1.16 quarterly dividend, and trades at a forward P/E of 17 versus a trailing P/E of 17. The gap is narrow, but it points in the right direction as earnings recover.
The dividend track record is the anchor. Management pointed on the Q2 call to “our more than 50-year record of annual increases” and is targeting a 40% payout ratio over time. The recent bump from $1.14 to $1.16 per quarter continues a ladder of hikes going back years. Coverage is comfortable: trailing diluted EPS of $9.64 supports a $4.56 annualized dividend, and Target guided FY2026 EPS to a range of $9.90 to $10.90. FY25 operating cash flow was $6.56 billion, and Target paid $518 million in Q2 dividends while keeping capex funded.
Traffic rose 3.6% in Q2, digital comps grew 8.7%, and higher-margin businesses like Roundel grew nearly 20% and Target Plus Marketplace GMV grew more than 40%, which is exactly the mix a dividend investor wants funding future raises. A 50-plus-year streak puts Target in rare company, and we ranked ten of those Dividend Kings by valuation in a free report here. The risk is that the $1.65 per share Q2 benefit from IEEPA tariff refunds is one-time, and management flagged that home and apparel recovery will extend into 2027 and beyond.
Bottom Line Each of these three names shares the same setup: forward earnings support the current dividend more comfortably than trailing results do. Dow is the highest-yielding and most cyclical, rebuilding coverage after a payout reset. U.S. Bancorp offers the cleanest earnings growth story with a rising dividend on a mid-teens ROTCE. Target brings the deepest dividend history and a multiple that stops getting more expensive as EPS recovers. Investors focused on income should weight the mix by how much cyclicality they can tolerate to earn the extra yield.
Contact [email protected] for any questions or corrections.
A children's Halloween costume pulled from Target's shelves is threatening far more than a single product line. It is testing whether the retailer's celebrated comeback has the brand trust to survive another culturally charged misstep.
Target (NYSE:TGT | TGT Price Prediction) shares fell from $169.89 to $163.47 on August 25 after critics said a children’s clown costume photographed on a Black child evoked blackface and racist minstrel imagery. Target apologized, pulled the item, and said it should never have entered its assortment.
On roughly 454.3 million shares outstanding, the move coincided with a market-value loss of about $2.92 billion. The stock is up 72.36% year to date and 77.48% over the past year, which invites profit-taking on any bad headline.
The controversy matters because Target’s recovery depends on goodwill it recently reclaimed. Prior boycotts tied to Pride merchandise and the company’s DEI rollback dragged comparable sales negative for multiple quarters. The Halloween misstep threatens to reopen a wound the company just finished dressing.
Backlash Hits a Stock Priced for Redemption The 3.78% drop on August 25 looks modest against a stock trading near a 52-week high of $170.75. The pattern beneath the number should concern investors.
Target’s rally was driven by the Q2 report published on August 19, which reported 3.8% comparable-sales growth and 3.6% traffic growth. Digital comparable sales rose 8.7%, and adjusted EPS came in at $4.11 against a $2.34 consensus. That combination is why shares recovered to $164.04 by Wednesday’s close.
A stock priced for a durable turnaround has less room for merchandising accidents than one priced for skepticism. Every new controversy compounds against the same brand-trust thesis management is asking investors to underwrite.
Turnaround Rests on Restored Guest Trust CEO Michael Fiddelke framed the Q2 improvement around trust that had to be earned back. He told analysts that “when I think about healthy indicators of sustainable long-term growth, traffic is at the top of that list.”
Traffic is a lagging measure of whether guests feel good about walking in. It is exactly the metric a boycott targets, because boycotts do not need to convert everyone to hurt a retailer at the margin. Fiddelke also cautioned that “our goal isn’t one or two quarters of good results. Our goal is sustained profitable top line growth over time.” Sustained growth requires that the assortment no longer generate apologies.
Target’s strategy language admits the transformation is early. Fiddelke said, “We’re just getting started and there’s a lot of important work ahead.”
Process Failure Behind the Costume Incident The clown costume is best read as a symptom of a merchandising review process that is not yet consistent. Management has openly said Q2 included the largest volume of in-store transitions of any quarter in the past decade. Fiddelke conceded that “we’re not going to bat a thousand. We’re not going to get it all right.” Retailers reshaping an assortment across 2,000 stores and a 400,000-person team will miss.
The problem is that Target’s recent misses have been culturally charged items that reignite existing boycott networks, a different order of risk than a slow-selling line of throw pillows.
This specific incident likely fades into the fourth-quarter numbers, because a stock rallying 17.77% over the past month absorbs a single bad day. The real risk is the next one: whether Target’s review process has caught up with a brand that can no longer afford another apology.
Contact [email protected] for any questions or corrections.
Editor’s note: This article has been corrected. Michael Fiddelke is CEO of Target. Brian Cornell is former CEO and current executive chair.
Brian C. Cornell, former CEO and current executive chair of Target Corporation (TGT -1.66%), reported a sale of 50,000 shares of common stock on Aug. 25, 2026. SEC Form 4 filing
Transaction summaryMetricValueTransaction value~$8.2 millionShares sold (indirectly held)50,000Post-transaction shares (directly held)~135,000Post-transaction shares (indirectly held)~144,000Post-transaction value$45.53 millionTransaction value based on SEC Form 4 weighted average sale price ($163.56); post-transaction value based on Aug. 25, 2026, market close ($163.47).
Key questionsWhat was the proportional impact of this sale on the person's total equity holdings?
The sale of 50,000 shares accounted for 15% of the common stock position held immediately prior to the transaction, based on a pre-trade balance of ~329,000 shares.How is the remaining ownership distributed between direct and indirect accounts?
Equity is currently distributed between 134,733 shares held directly and 143,770 shares held indirectly, with the latter comprising 143,270 shares in trust and 500 shares within the company's 401(k) plan.How does the execution price compare to the market valuation on the day of the trade?
The transaction was executed at $163.56 per share, slightly above the $163.47 market close on Aug. 25, 2026.What is the recent performance context for the stock at the time of this filing?
Shares were priced at $164.01 as of the Aug. 26, 2026 market close, following a period where the company delivered a 68% total return over the 12 months ending on the transaction date.Company OverviewMetricValueShare Price (as of market close 2026-08-26)$164.01Market Capitalization$74.5 billionRevenue (TTM)$107.7 billionNet Income (TTM)$4.4 billionCompany SnapshotTarget operates a portfolio of general merchandise retail stores that offer a diverse product assortment, including apparel, household goods, electronics, toys, and food items, with revenue generated primarily through in-store and omnichannel sales across its owned-and-operated store network.The company generates revenue through a traditional retail business model, leveraging its extensive store footprint and digital capabilities to serve customers across multiple channels while maintaining proprietary brand portfolios that enhance margins and customer loyalty.Target's primary customer base consists of middle-income households seeking value-oriented general merchandise, with particular strength in serving families and consumers who prioritize convenience, product selection, and competitive pricing in discount retail environments.Target Corporation is one of the largest discount retailers in the United States, with a market capitalization of $74.5 billion and TTM revenues of $107.7 billion, reflecting its position as a major player in the consumer defensive sector. The company operates approximately 400,000 employees across its store network and leverages an extensive portfolio of owned brands -- including Cat & Jack, Good & Gather, and Hearth & Hand with Magnolia -- to differentiate its merchandise offering and enhance operational profitability. Target's competitive advantage derives from its omnichannel retail capabilities, efficient supply chain operations, and strong brand recognition, enabling it to maintain market share in the competitive discount retail landscape while generating substantial cash flows.
What this transaction means for investorsThis sale appears to be nothing more than a pre-scheduled trading plan. However, after Target's stock had risen over 60% over the last year, it was fortuitous timing for Cornell, even though it doesn't necessarily signal how he feels about the stock.
While Target's turnaround over the last year has been nice to see, it might be more about beating basement-level expectations than the company firing on all cylinders. That said, Target just grew sales by 5.3% -- including a 3.8% increase in same-store sales -- in Q2, even as many consumers face a challenging environment. For comparison, Walmart just grew sales and same-store sales by 5.9% and 2.6% in its latest quarter. So it seems Target may be turning the tide -- and at a much lower valuation.
Trading at just 16 times forward earnings, compared to Walmart's 36, there's a good case to be made that Target is the more interesting investment option right now, even though it may be more of a turnaround story still. Home to a well-funded 2.8% dividend yield, Target is interesting right now, especially if its non-merchandise sales (ads, membership, Target+ marketplace) keep growing by more than 20% like the company saw in Q2.
Interim Analysis of the First Six Patients to Complete 12 Weeks of Treatment Met Pre-Specified Alpha Adjusted Target for Primary Endpoint with Statistical Significance Four of Six (66.7%) Participants Achieved the Target 1-Grade or Greater Improvement in Investigator Global Assessment at Week 12 (p=0.0087) With Statistical Significance versus the Pre-Specified Alpha of 0.0215Key Secondary Endpoint of Global Impression of Change Also Achieved Statistical Significance at Week 12 (p=0.0070) Versus the Pre-Specified Alpha of 0.0215 All Three Participants with Moderate-Severe Pruritus (Itch) at Baseline Achieved a Clinically Meaningful Outcome of at Least a 3-Grade Improvement After 12 Weeks of Treatment with QRX003No Treatment Related Serious Adverse Events were Recorded ASHBURN, Va., Aug. 28, 2026 (GLOBE NEWSWIRE) -- Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX) (“Quoin” or the “Company”), a late clinical-stage specialty pharmaceutical company focused on rare and orphan diseases, today announced positive interim results from CL-QRX003-004, its ongoing Phase 2/3 study of QRX003 4% lotion in patients with Netherton Syndrome.
Summary of CL-QRX003-004 Interim Results in Netherton Syndrome
The primary endpoint of 1-grade improvement or greater for IGA on all of the treatment area met the pre-specified alpha-adjustment for interim analysis with statistical significance (p= 0.0087 vs. α=0.0215.) Four of six (66.7%) participants achieved the target 1-grade or greater improvement across all of the treatment area in Investigator Global Assessment (IGA) from baseline at Week 12, or 66.67% (95% CI: 22.28%, 95.67%), p=0.0087 against a pre-specified alpha of 0.0215.Two of those four (50%) participants achieved a 2-grade or greater IGA improvement across all of the treatment area.Key secondary endpoint, a Global Statistical Test of Global Impression of Change, achieved statistical significance at week 12 with a mean change of -1.5 (SD 0.82), (p-value=0.007 vs α=0.0215.) All three participants with moderate to severe pruritus at baseline achieved a clinically meaningful greater than 3-grade improvement in Worst Itch Numeric Rating Scale (WI-NRS, scale 0-10) at Week 12. One participant had a greater than 6-grade improvement.For the Ichthyosis Area and Severity Index (IASI), improvements ranging from 31-87% reduction in severity from baseline were recorded after 12 weeks of treatment with QRX003. These results mirrored those for the IGA with the same 4 participants recording clinically meaningful improvements for both endpoints.No treatment-related serious adverse events were reported. No clinically significant ECG, laboratory, or vital sign abnormalities were identified.Quoin expects to complete recruitment of all 20 participants in CL-QRX003-004 by the end of 2026 and report topline data in the second quarter of 2027.If approved, QRX003 could become the first FDA-approved treatment for Netherton Syndrome.
Study Design
CL-QRX003-004 is a Phase 2/3, multicenter, baseline-controlled, open-label study evaluating the safety, tolerability, and efficacy of QRX003 4% lotion applied twice daily to all of the body excluding the scalp in patients with Netherton Syndrome. The study will enroll approximately 20 evaluable participants aged four years and older across multiple clinical sites in both the US and the UK.
Treatment duration is 12 weeks, followed by a four-week post-treatment End of Study visit. Subjects must discontinue all standard of care therapy, including topical and systemic prescriptions, for the duration of the study.
Interim Results
This interim analysis covers the first six participants to complete the 12-week treatment period. The cohort comprised three male and three female participants ranging in age from 11 to 52 years.
Primary Endpoint: IGA 1-Grade or Greater Improvement from Baseline
The primary endpoint is the proportion of participants achieving a 1-grade or greater reduction in IGA from baseline at Week 12. Four of six participants met that threshold, a rate of 66.67% (95% CI: 22.28%, 95.67%). The result achieved a p-value of 0.0087 against a pre-specified null hypothesis of one responder, easily clearing the pre-specified alpha adjustment for interim evaluation of 0.0215.
Primary Endpoint: IGA 1-Grade or Greater Improvement from BaselineVisitResponders (N)Percent (95% CI)P-ValueWeek 12
End of Treatment4 (6)66.67% (22.28%, 95.67%)0.0087 Pre-specified alpha adjustment for interim evaluation (p=0.0087 vs. α=0.0215)Null hypothesis was 1 patient responder Global Statistical Test- Global Impression of Change (GIC)
On the key secondary endpoint, Global Statistical Test of Global Impression of Change, participants recorded a mean change of -1.5 (SD 0.82) at Week 12, with a 95% confidence interval of -2.3 to -0.6 and a statistically significant p-value of 0.007 vs pre-specified alpha adjustment for interim evaluation α=0.0215.
Global Statistical Test- Global Impression of Change (GIC)VisitStatisticsObserved ValueWeek 12
N6Mean (SD)-1.5 (0.82)95% Confidence Interval(-2.3, -0.6)One Sample T-Test P-value0.0070
WI-NRS: 2-Grade or Greater Improvement from Baseline
On the WI-NRS responder analysis, three of six participants achieved a 3-grade or greater improvement from baseline, a rate of 50% (95% CI: 11.81%, 88.19%), p=0.0623. Notably, this result was achieved by all three participants with moderate to severe pruritus at baseline. One participant had a greater than 6-grade improvement.
WI-NRS: 2-Grade or Greater Improvement from BaselineVisitResponders (N)Percent (95% CI)p-ValueWeek 123 (6)50.00% (11.81%, 88.19%)0.0623
Secondary Endpoint: IASI Individual Scores
Four of the six participants achieved a greater than 25% reduction in IASI severity with clinically meaningful scores ranging from 31%- 87% improvement from baseline achieved. The same four responders who met the primary IGA endpoint also achieved improvement in IASI scoring, demonstrating a high degree of consistency between both physician assessed skin endpoints, which further underscores the robustness of these clinical outcomes.
Safety
QRX003 4% lotion applied twice daily was well tolerated. No deaths and no treatment-related serious adverse events were reported. No clinically significant ECG, clinical laboratory, or vital sign abnormalities were identified. The safety profile observed to date supports continued clinical development.
Management Commentary
“These interim results provide further objective evidence that QRX003 has the potential to change the course of Netherton Syndrome. Four of the first six participants achieved a statistically significant improvement in the primary endpoint and in a key secondary endpoint after 12 weeks of treatment with QRX003 vs pre-specified alpha adjustment. Importantly, this was accomplished after participants had stopped every other topical and systemic therapy they were using. The same four participants who met the primary endpoint achieved clinically significant improved IASI scores underscoring the robustness and consistency of the results across two objective clinician assessments. In addition, for the three participants who had the highest and most severe pruritus or itch at baseline, a highly clinically meaningful 3-grade or greater improvement was achieved after treatment with QRX003, including a greater than 6 grade improvement for one participant. Finally, these results match those previously reported from our ongoing pediatric compassionate use program as we continue to assemble a broad body of clinical evidence regarding the potential efficacy of QRX003 as treatment for this disease. We look forward to completing recruitment into this study by the end of the year and reporting the full data set in 2Q next year,” said Dr. Michael Myers, Chief Executive Officer and Co-Founder of Quoin Pharmaceuticals.
About Netherton Syndrome
Netherton Syndrome is a rare, serious genetic skin disease caused by mutations in the SPINK5 gene. The condition is characterized by impaired skin barrier function, persistent inflammation, and increased serine protease activity in the skin. There are currently no approved therapies in the United States indicated specifically for Netherton Syndrome.
About QRX003
QRX003 is an investigational topical serine protease inhibitor lotion in late-stage development for Netherton Syndrome and other orphan skin diseases. QRX003 has been granted Orphan Drug, Rare Pediatric Disease, and Fast Track designations by the U.S. Food and Drug Administration, and Orphan Drug Designation in the European Union and Japan. QRX003 lotion (4%) is currently being evaluated in whole-body clinical trials in patients with Netherton Syndrome, including the Phase 2/3 study CL-QRX003-004.
About Quoin Pharmaceuticals Ltd.
Quoin Pharmaceuticals Ltd. is a late clinical-stage specialty pharmaceutical company focused on developing and commercializing therapeutic products that treat rare and orphan diseases. We are committed to addressing unmet medical needs for patients, their families, communities, and care teams. Quoin’s innovative pipeline is focused on two key platform products, QRX003 and QRX009, that collectively have the potential to target a broad number of rare and orphan indications, including Netherton Syndrome, Peeling Skin Syndrome, Palmoplantar Keratoderma, Pachyonychia Congenita, Gorlin Syndrome and Tuberous Sclerosis Complex, Microcystic Lymphatic Malformations, Venous Malformations, Angiofibromas and others. For more information, visit: www.quoinpharma.com or LinkedIn for updates.
The Company cautions that statements in this press release that are not descriptions of historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words referencing future events or circumstances, such as “expect,” “intend,” “hope,” “plan,” “potential,” “anticipate,” “look forward,” “believe,” “may,” and “will,” among others. This press release contains forward-looking statements. All statements that reflect the Company’s expectations, assumptions, projections, beliefs, or opinions about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, statements relating to: completing recruitment in CL-QRX003-004 by the end of 2026; topline data from CL-QRX003-004 in the second quarter of 2027; a potential NDA filing in 2027; QRX003 potentially becoming the first approved treatment for Netherton Syndrome; QRX003 having the potential to change the course of Netherton Syndrome in patients treated with this product; the safety profile observed to date supporting continued clinical development; and Quoin’s belief that its products in development collectively have the potential to target a broad number of rare and orphan indications, including Netherton Syndrome, Peeling Skin Syndrome, Palmoplantar Keratoderma, Pachyonychia Congenita, Gorlin Syndrome, Tuberous Sclerosis Complex, microcystic lymphatic malformations, venous malformations, angiofibromas and others.
Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon the Company’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties including, but not limited to, the Company’s ability to pursue its regulatory strategy; the Company’s ability to obtain regulatory approvals for commercialization of product candidates or to comply with ongoing regulatory requirements; the Company’s ability to complete clinical trials on time and achieve desired results and benefits as expected; and other factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 and in other filings the Company has made and may make with the SEC in the future. One should not place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. The Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as may be required by law.
For further information, contact:
Quoin Pharmaceuticals Ltd.
Dr. Michael Myers, Ph.D., CEO [email protected]
Investor Relations
PCG Advisory
Jeff Ramson [email protected]
(646) 863-6341
This week's earnings tested a thesis of ours. We'd argued the "SaaSpocalypse" fear was overblown, and that AI agents will drive more software usage, not less. The worry was that agents doing human work would gut the per-seat licenses that software runs on. But agents still have to read and write the records living inside those platforms. So, the best software keeps getting paid, per seat or not.
Okta (OKTA -3.86%) sells the login layer that employees, and now AI agents, pass through. Revenue for this Stock Advisor pick rose 10.6% to $805 million, but operating income jumped 161% to $107 million. Profit is outrunning growth, exactly what long-term holders wanted. Salesforce (CRM +1.57%), recommended in Stock Advisor and Rule Breakers, showed that the agent-pricing model is working. Recurring revenue from its Agentforce and Data 360 AI products more than tripled from a year ago to roughly $3.9 billion. Veeva Systems (VEEV -1.93%) runs the trial and regulatory records that drugmakers can't afford to get wrong. As investors panicked in April about a software reckoning, Team Rule Breakers issued a fresh recommendation. It's up by 70% since. Revenue grew 18% to $928 million, and Veeva raised full-year guidance. AI is paying off in software, not just chips.
2. After CrowdStrike's Record Quarter, We Reduced Our Stake CrowdStrike (CRWD -4.19%) protects a company's laptops, servers, and logins, and customers rarely rip it out. It's one of our most recommended stocks across services. The increasing security threat from AI has become a very compelling sales pitch for its services.
The number that mattered: Net new annual recurring revenue hit a record $333 million, revenue grew 26%, and management raised full-year guidance. CEO George Kurtz called it the best quarter in the company's history. What drove it: Kurtz credited a "Mythos moment," his name for the scramble after Anthropic's model showed it could exploit unknown software flaws. Every capable attacker that AI creates is one more reason enterprises spend on defense. Tom Gardner sold a little: Hours after that report, he reduced exposure to CrowdStrike across the board, including a 15% trim of one Stock Advisor position. Our first recommendation there is up nearly 700%. Not because the thesis broke. The stock trades above 40 times sales in a frothy market, and it's a heavily weighted winner. He took a few chips off the table. Trimming an expensive winner and maintaining conviction in its long-term story aren't mutually exclusive, and Tom still believes in CrowdStrike.
3. Nvidia's Beat and a Telling Purchase Nvidia (NVDA -4.58%) beat again. Revenue topped $96 billion, more than double a year ago, and the stock is up 9% since reporting. What lifted its shares? The CFO guiding for 70% revenue growth in 2028. But our analyst Emily Flippen calls Nvidia "a lagging indicator of the AI buildout, not a leading one." Its reported revenue just confirms spending that the market already knew about. But the more revealing news came Thursday, when Nvidia revealed what's on its shopping list.
The deal: Nvidia reportedly agreed to buy Hugging Face, the open-source hub where developers publish and test AI models, for about $13 billion. It's Nvidia's largest acquisition ever, at roughly 86 times the target's sales. Why that price isn't incredibly high: Nothing is expensive against Nvidia's scale. Flippen notes Nvidia could buy Hugging Face seven times over using cash already set aside to repurchase its own stock. She also flags this as a defensive hedge. Nvidia's biggest customers are starting to design their own chips. Whoever owns the platform developers download models from can steer them toward rival hardware. Nvidia is paying to keep that door shut. We've recommended Nvidia more than 30 times and never sold. In fact, a $10,000 stake invested in 2005, when we first recommended Nvidia in Stock Advisor, is worth about $13 million today. But the build-out that made it can't grow forever, and this deal is a tell that Nvidia knows the easy years are behind it. What we're watching now is whether it can defend its lead as well as it once extended it.
4. Sneakers Signal a Nervous Consumer Last week, retail's story was who's winning: Target (TGT -1.66%) up, Walmart (WMT +0.45%) down. This week, it turned into a harder question about how shoppers' discretionary budgets are holding up. Dick's Sporting Goods (DKS +2.52%) had its worst trading day on record on Tuesday, down more than 30% after earnings, and same-store sales missed. It dragged our shoe stocks down with it.
The drag: Foot Locker, the chain Dick's bought this year, is looking like dead weight. Its comparable sales fell 3.6%, while Dick's own stores grew 4.9%. The acquisition erased an otherwise decent quarter. Our recommendations fell in sympathy: On Holding (ONON -0.34%), recommended in Stock Advisor and Rule Breakers, dipped 2.3%. Deckers Outdoor (DECK +1.66%), a Team Hidden Gems pick, closed down 3.6%. Nike (NKE +3.02%) fell 3.1% the same day. Why do shoes even matter? Footwear demand tracks whether shoppers are spending money on fitness and recreation. Contributing analyst Lou Whiteman flagged in May that Nike's retreat from wholesale left a shelf vacuum. On and Deckers filled it. The question is whether this is one struggling retailer or it indicates that consumers are pulling back. July's core inflation held at 3.3%, and real spending was essentially flat. Before calling one sneaker miss a macro signal, look at how the next discretionary retailers report. On and Deckers taking share is the durable part.
5. Meta Buys Its Way Out of a Trial Meta (META +1.21%) just settled the biggest legal threat hanging over it. It agreed to pay about $17 billion to resolve claims from 29 states that Instagram and Facebook hooked kids on their platforms. The settlement ends a trial that was in its second week. The Team Hidden Gems recommendation briefly popped 4% on the news, but has since come back down.
Why the stock responded favorably to a penalty: Markets prefer a known, spread-out cost to open-ended legal risk. Meta originally disclosed that states were seeking up to $1.4 trillion, which makes $17 billion look like peanuts. Meta will pay the funds over a decade, and it expects to book a roughly $10 billion charge in the third quarter. A settled number reads very differently from a surprise jury verdict. The real cost is engagement, not cash: Meta agreed to real product changes for minors. It will cap kids at two hours a day across Instagram and Facebook, block feeds overnight, and limit beauty filters and visible likes. Fewer teen sessions mean fewer ad impressions. For an advertising business, that bites long after the cash is paid. Meta passed the bill to rivals: In an interesting twist, Meta will dole out the other 30% of the funds only on a certain condition. Its competitors, Alphabet's (GOOG +1.53%) (GOOGL +1.74%) YouTube and TikTok, must also adopt similar teen safeguards and pay out billions to the states. One company's settlement could become the template regulators use against the whole industry. The uncertainty about its financial penalty has lifted. But owning Meta from here means believing it can maintain healthy engagement and ad revenue while running a friendlier product for its youngest users.
6. Your Take Tom Gardner sold some CrowdStrike stock even though he still believes in it. What's a stock you remain bullish on but have deliberately reduced your exposure to, and what tipped you into selling some?
Debate with friends and family, or become a member to hear what your fellow Fools are saying!
Centerra Gold remains a Strong Buy in my view, with my price target increasing from $24.30 to $28 per share. Öksüt, Mount Milligan, and Thompson Creek are driving the next leg of the thesis. Öksüt's 2026 production guidance increased to 120K to 135K ounces without a higher AISC range. My SOTP points to $28 per share, with Mount Milligan valued at about $2.14 billion, Öksüt at $1.05 billion, and Thompson Creek at $850 million, while Goldfield and Kemess remain heavily discounted in my model.
