Canada has taken a major step in its mining history. The country recently approved the first large-scale uranium mine in more than 20 years. This new project is part of Canada’s effort to support clean energy and nuclear power production.

The federal and provincial governments approved the Phoenix In Situ Recovery (ISR) uranium mine. This mine is part of Denison Mines’ Wheeler River Project in Saskatchewan. This approval allows the construction of both the mine and its processing mill.

Phoenix will use ISR mining, a method seen as more environmentally friendly than traditional open-pit or underground mining. The technique uses liquid to dissolve uranium underground. It then brings the uranium to the surface for processing. This method reduces land disturbance compared to traditional methods.

With its license now issued and environmental reviews completed, construction is expected to take about two years. The project remains on track for its first production by mid-2028.

The approval is a milestone for Canada’s nuclear fuel sector. It signals renewed interest in uranium mining at a time when nuclear power is gaining traction as a low-carbon energy source.

A New Era for Canada’s Uranium Sector

Uranium is the key fuel for nuclear power plants. Nuclear power provides large amounts of low-carbon electricity around the world. As countries seek to reduce greenhouse gas emissions, nuclear energy is playing a growing role in clean energy strategies.

Canada is one of the world’s top uranium producers. Mines like Cigar Lake, McClean Lake, and Rabbit Lake in Saskatchewan have been supplying uranium for decades.

However, no new large mining projects had been approved at the federal level in over two decades before Phoenix. Canada can now boost uranium production. This will help support nuclear fuel supply chains at home and abroad.

The Phoenix mine will create economic benefits. This includes jobs during both construction and operations in northern Saskatchewan. It will also contribute to local tax revenue and community development.

Rising Power Needs Put Nuclear Back in Focus

Nuclear power accounts for a significant share of clean electricity globally. Nuclear reactors produce constant, reliable power that does not depend on weather like wind or solar. Many countries view nuclear energy as critical to meeting climate goals while maintaining grid stability.

As electric grids transition to cleaner energy sources, the demand for uranium — the core fuel for nuclear plants — is rising.

According to the International Energy Agency (IEA), global electricity demand grew by 3 % in 2025, following a 4.4 % increase in 2024. The agency expects demand to rise by about 3.6% each year from 2026 to 2030. This growth will come from industrial use, electrification, electric vehicles, cooling needs, and more data centers.

This growth underscores the need for reliable, low-carbon generation capacity. Nuclear energy is a strong candidate because it supplies large volumes of consistent electricity with low emissions.

Tech Sector Turns to Nuclear for 24/7 Power

As electricity demand grows, especially from data centers, tech companies are focusing on long-term power solutions.

Executives at NexGen Energy, developing Canada’s largest uranium project in Saskatchewan, say they’ve talked with data center providers. They discussed financing uranium mining projects and securing a long-term uranium supply. These talks aim to ensure stable fuel for nuclear plants that could help power future data infrastructure.

CEO Leigh Curyer said,

“It’s coming. You’ve seen it with automakers. These tech companies, they’re under an obligation to ensure the hundreds of billions that they are investing in the data centres are going to be powered.”

NexGen is working on the Rook I uranium project in Saskatchewan’s Athabasca Basin. This area is one of the richest for uranium and hosts Canada’s largest development-stage uranium project.

The company anticipates full government approval soon, and it aims for production around 2030. NexGen executives say the mine could supply more than 20 % of global uranium demand once operational.

NexGen’s discussions with data center operators focus on financing and long-term supply agreements. The idea is like car makers investing in battery material mines. They do this to secure vital supplies for electric vehicles.

These talks do not involve giving tech firms any control of NexGen. Instead, they focus on ways to help ensure uranium supply and potentially support early project development.

• MUST READ: From Now to 2060: How Canada’s SMRs and Maritime Nuclear Power Will Drive a Net-Zero Future

Why Tech Firms Are Interested in Nuclear Fuel

Modern data centers need a lot of electricity. This is especially true for those supporting AI, cloud computing, and large digital services. Power demand from data centers is a key driver of rising global electricity use, according to the IEA.

Unlike intermittent renewables, nuclear power provides 24/7 electricity that is not affected by weather. This reliability makes it attractive for companies that need stable energy for critical infrastructure.

Some technology firms have already signaled interest in long-term arrangements with nuclear energy providers. These supply arrangements might involve financing for mining, long-term fuel contracts, or offtake agreements when projects start production.

Long-term contracts for uranium can help companies lock in fuel supply for decades. This can reduce risks related to supply shortages or price volatility in commodity markets.The discussions show how energy security and climate goals are intersecting with corporate planning in the tech sector.

• SEE MORE: Project Matador: America’s $90B Nuclear Power Solution for AI, Semiconductors, and Data Centers

Tight Supply and Rising Prices Reshape the Market

The uranium market has tightened in recent years. Uranium prices have gone up. This rise shows supply issues and increasing interest in nuclear energy. Recent trading values put uranium at almost US$89 per pound, after briefly exceeding US$100 per pound in end of January.

Projections suggest that global nuclear capacity will need more fuel in coming decades as new reactors come online and existing ones are extended. Countries like China and India are expanding nuclear power to meet their growing electricity needs.

In Canada, new mines such as Phoenix and big projects like Rook I can fill global supply gaps. They also support national energy plans.

Global Supply Strain: U.S. and China Reshape the Uranium Market

The scramble for uranium supply is accelerating beyond Canada.

In the United States, a ban on Russian enriched uranium imports will take full effect in January 2028. Russia holds around 44% of the world’s uranium enrichment capacity. In 2023, it provided 27% of U.S. utility enrichment purchases, according to S&P Global Commodity Insights.

To reduce this dependence, the U.S. Department of Energy announced $2.7 billion in task orders to expand domestic enrichment capacity. The funding supports Centrus Energy, General Matter, and Orano Federal Services.

• Orano got $900 million to build a new enrichment facility in Oak Ridge, Tennessee. They expect to submit a license application in the first half of 2026.

Conversion capacity is also expanding. Solstice Advanced Materials plans to increase uranium conversion output by 20% at its Metropolis Works plant in Illinois. The facility is expected to exceed 10 kilotonnes of UF₆ production in 2026, and it is reportedly sold out through 2030.

At the same time, China’s nuclear buildout is adding pressure to global supply. China operates 58 reactors, with 34 more under construction. Citi Research estimates China’s uranium needs will rise from 35 million pounds in 2025 to 58 million pounds by 2030, equal to about 27% of global demand. Yet, China produces only around 4 million pounds domestically.

Global uranium demand could reach 400 million pounds by 2040, more than double today’s levels. Meanwhile, about 70% of post-2027 uranium requirements remain uncontracted, highlighting the growing supply gap.

S&P Global expects a uranium market upcycle until 2028, fueled by rising nuclear demand, especially from AI data centers. Global capacity is set to double, reaching 561-992 GW by 2050. Production jumps 141% to 141.2 million pounds by 2033, generating $14.9 billion revenue at $98.7/lb—65% above current prices.

Kazatomprom and Cameco will lead in 2025, generating $5.4 billion in revenue. This accounts for 86% of the group’s output. After 2028, NexGen and Denison will drive the supply wave, peaking at $1.6 billion in capex. Big Tech (Meta, AWS, Google, Microsoft) signs PPAs and equity deals.

Nuclear Fuel Security Becomes a Climate Strategy

The approval of a new mine after more than 20 years shows that uranium is regaining importance in global energy planning. The Phoenix ISR project and other potential mines reflect renewed confidence in nuclear fuel production.

Early interest from tech companies in securing uranium supply shows a shift in energy planning. As power demand increases, companies are exploring new clean energy options. They want stable, low-carbon electricity.

For countries pushing decarbonization, nuclear power — supported by a stable uranium supply — offers a path to reduce emissions while meeting baseload electricity demand.

In this context, the Canadian uranium sector is poised for growth. New mines and potential private sector involvement may strengthen nuclear fuel security, supporting both national and global energy transitions.

• READ MORE: India–Canada Near $2.8 Billion Uranium Deal, Cameco to Supply Nuclear Fuel

The post Canada Approves First Uranium Mine in 20 Years as Tech Giants Eye Nuclear Fuel for AI Power appeared first on Carbon Credits.

ENGIE has officially brought its Assú Sol photovoltaic complex into full commercial operation. The French utility secured final approval from Brazilian authorities on February 13, 2026, after completing construction in December 2025. With a total investment of BRL 3.3 billion, the project now stands as ENGIE’s largest operational solar asset worldwide.

Located in Rio Grande do Norte in northeast Brazil, Assú Sol has an installed capacity of 895 MWp. The complex spans 2,344 hectares and consists of 16 solar plants. At full output, it can generate enough electricity to meet the annual demand of roughly 850,000 people.

• In 2025, Brazil added 7.4 GW of new large-scale electricity generation capacity, driven primarily by over 2.81 GW of solar PV, according to the energy regulator Agência Nacional de Energia Elétrica (ANEEL).

• In August 2025, ABSOLAR reported Brazil’s solar capacity hit 60 GW and forecasted strong distributed generation growth through 2030.

By January 1, 2026, the country’s total large-scale power generation capacity reached 215.9 GW, with renewables accounting for 84.6% of the mix. ANEEL projects a 23.4% increase in renewable capacity in 2026, equivalent to an additional 9.14 GW.

However, while the scale is impressive, the project also reflects a deeper shift underway in Brazil’s renewable energy market.

Assú Sol Delivers at Scale: Advanced Tech Powers Brazil’s Largest Solar Plant

ENGIE completed the project over 30 months, keeping it on schedule and within budget. More than 4,500 direct jobs were created during construction. The development required over 1.5 million solar modules, extensive cabling, and new internal road infrastructure.

Importantly, the company adopted advanced construction technologies. Drone-based aerial mapping improved site planning. Automated graders linked to 3D models enhanced precision. In addition, ENGIE deployed Brazil’s first dedicated automatic pile-driving machine for a solar project.

As a result, execution was faster, safer, and more efficient. Assú Sol demonstrates that large-scale renewables can be delivered with industrial discipline. Yet commissioning marked only the beginning of a more complex challenge.

Assú Sol photovoltaic complex

Curtailment Pressures Test Solar Profitability

Despite reaching full operations, Assú Sol faces curtailment — a structural issue affecting Brazil’s clean energy sector since 2023. Curtailment occurs when renewable plants must reduce output because the grid cannot absorb all available electricity.

Brazil has added wind and solar capacity at record speed. At the same time, electricity demand has grown slowly. Distributed generation, especially rooftop solar, has also expanded rapidly. Consequently, supply often exceeds transmission capacity and real-time demand.

According to Reuters, ENGIE’s Brazil country manager Eduardo Sattamini confirmed that Assú Sol’s production has already been curtailed to balance the grid. Although specific volumes were not disclosed, the impact is material enough to prompt strategic adjustments.

In other words, renewable abundance does not automatically translate into revenue. Infrastructure constraints now shape project economics as much as generation capacity does.

How ENGIE Plans to Use Storage and Bitcoin

Reuters further revealed that to address this imbalance, ENGIE is evaluating two parallel strategies: battery storage and localized demand solutions such as bitcoin mining data centers.

Battery storage provides the most direct fix. By storing excess midday solar output and discharging it during peak demand hours, batteries reduce curtailment and improve grid stability. They also open access to ancillary service markets, strengthening revenue streams.

However, ENGIE is also studying a more unconventional model — using surplus electricity to power bitcoin mining operations. At first glance, the combination may seem unusual. Yet, from an energy economics perspective, it offers several compelling advantages.

Solar farms often produce maximum output during midday, precisely when grid demand can soften. Instead of shutting down generation, operators can redirect excess electricity to mining operations that can scale consumption up or down in real time.

This model delivers multiple strategic benefits.

• Lower carbon intensity: Solar-powered mining sharply reduces emissions compared to fossil-fuel-based operations, helping reposition crypto infrastructure within a cleaner energy framework.

• Flexible demand response: Mining facilities can quickly ramp power usage up or down, absorbing excess electricity during peak solar hours and easing pressure during grid stress.

• Stable long-term energy costs: Solar generation offers predictable operating expenses after initial capital deployment, protecting operators from volatile power markets.

• Improved asset utilization: Co-locating data centers with large solar plants maximizes land use and monetizes electricity that might otherwise be curtailed.

• Diversified revenue streams: Developers gain an additional income channel beyond wholesale power sales, strengthening overall project economics.

Of course, integration comes with challenges. Both solar infrastructure and mining facilities require significant upfront investment. Moreover, energy supply must remain balanced to avoid operational disruptions. Smart-grid systems and, ideally, battery storage will play a critical role in stabilizing performance.

Sattamini made clear that such initiatives would take time to implement. Nonetheless, the strategy signals an evolution in renewable business models — from pure generation toward integrated energy ecosystems.

Community Development and Long-Term Strategy

The company has also invested in the Assú region’s social infrastructure. It supported the construction of a school, a health center, and sports facilities. It improved access to water and provided agricultural equipment to local communities. Such initiatives enhance local acceptance and reinforce the long-term sustainability of the project.

ENGIE’s Renewable and Storage Capacity Goal

Looking ahead, it aims to reach 95 GW of renewable and storage capacity globally by 2030. More than 80% of its planned capital expenditure aligns with the European Taxonomy framework, focusing on low-carbon generation, infrastructure modernization, green gas, and storage technologies.

The company currently operates 15.7 GW of fully renewable installed capacity across hydropower, wind, and solar assets. It also manages 3,200 kilometers of transmission lines and 22 substations.

Some significant achievements include:

• In late 2025, ENGIE commissioned the Serra do Assuruá wind complex in Bahia, adding 846 MW of onshore wind capacity.
• Meanwhile, the Asa Branca transmission project continues to expand grid infrastructure across several states, with more than 1,000 kilometers planned upon completion.
• Another initiative, the Graúna transmission project, will further strengthen interconnections in southern Brazil.

These investments are critical. Without stronger transmission networks, renewable curtailment will persist. Therefore, grid expansion and flexibility solutions must advance alongside generation growth.

As renewable penetration rises, profitability depends not only on installed megawatts but also on flexibility, storage, and innovative demand-side solutions. In that context, combining solar power with storage or even bitcoin mining may redefine how excess clean energy is valued.

And Assú Sol is part of ENGIE’s broader renewable expansion in Brazil, setting an example for renewable markets facing maturity challenges.

• READ MORE: Sungrow Powers ENGIE’s €290M Vilvoorde Battery Park, Europe’s Largest of Its Kind 

The post ENGIE’s Brazil Solar Plant Explores Energy Storage and Bitcoin to Solve Grid Curtailment appeared first on Carbon Credits.

Disseminated on behalf of Surge Battery Metals Inc.

Grade matters because it affects how much lithium a project can produce and how costly it is to operate. Higher grades generally mean more lithium can be recovered with lower costs. This matters for projects that want to compete in the fast‑growing electric vehicle (EV) and energy storage markets.

Let’s explore why grade is essential for lithium clay projects and learn how it affects economics, operations, and investor interest. More notably, we highlight how Surge Battery Metals’ Nevada North Lithium Project (NNLP) stands out in this context. 

What “Grade” Means in Lithium Projects

In mining, “grade” refers to how much lithium is present in a deposit. It is usually reported in parts per million (ppm) or as lithium carbonate equivalent (LCE). A higher grade means there is more lithium per tonne of rock.

For lithium clay, grades can vary widely. Some clay deposits have grades below 1,000 ppm. Others reach several thousand ppm. The higher the grade, the more lithium metal is available to extract.

U.S. lithium clay peers usually range from 800 to 2,540 ppm Li. Some areas are lower, at 120 to 766 ppm, like American Lithium’s Tonopah claims. Others can reach 1,690 to 2,900 ppm in drilling. Common cutoffs start at 1,000–1,250 ppm for economic viability, far above the <500 ppm in some global clays like Australia’s Kaolin resources.

Grade affects several key project factors:

• Revenue potential – Higher grade means more lithium output per tonne of material moved.
• Cost efficiency – Projects with a higher grade may spend less on mining and processing per unit of lithium produced.
• Product quality – Higher-grade feedstock can result in higher‑purity lithium products, which are valuable in battery markets. 

Investors and developers pay close attention to grade because it is a strong indicator of future project performance.

• SEE LIVE LITHIUM PRICES HERE

Why Grade Matters More Than Ever

The global lithium market is changing fast. EV production is growing quickly. Energy storage systems are expanding. Demand for lithium is outpacing supply in many markets. This puts pressure on producers and developers to find the most competitive resources.

In this environment, grade has become a key differentiator among lithium clay projects. Several market trends explain why grade now matters more than ever:

• Rising Demand for Battery‑Grade Lithium

Battery manufacturers require consistent, high‑purity lithium feedstock. Higher-grade deposits can deliver more lithium for refining into battery materials. They can also reduce the amount of waste material that needs to be processed. 

Global lithium demand is forecast to reach 2.4–3.1 Mt LCE by 2030 (from ~0.7 Mt in 2022), with batteries driving >90% growth. High-grade clays minimize waste in refining to meet this.

• Cost Pressures in Battery Supply Chains

Global competition in battery manufacturing pushes producers to lower costs. Projects with higher grades can reduce lithium production costs. This improves project economics and makes supply chains more resilient.

Higher grades cut opex by reducing tonnage processed. For instance, >3,000 ppm clays enable <US$6,000/t LCE vs. lower-grade brine equivalents >US$10,000/t.

• Shift Toward Domestic Supply Security

Countries like the United States are prioritizing domestic lithium production. This is part of a broader energy and industrial policy. 

U.S. holds ~115 Mt lithium resources, per USGS 2025 data, up from 98 Mt in 2024. However, production is <1% global. IRA mandates 80% domestic or allied sourcing by 2027, favoring high-grade projects for faster permitting/offtakes.

Projects with strong grades are more likely to secure investment, permit approvals, and supply agreements. They offer clearer pathways to sustainable production.

In this landscape, projects with both good size and high grade stand out. They can produce more lithium with fewer inputs. They also attract stronger interest from investors and manufacturers looking for reliable sources of battery metals.

Nevada North: High-Grade Lithium in Action

Among lithium clay projects in the United States, Surge Battery Metals’ (TSX-V: NILI | OTCQX: NILIF) Nevada North Lithium Project (NNLP) is a standout example of why grade matters. NNLP hosts one of the highest‑grade lithium clay resources in the country. It also shows strong potential for expansion and future development.

According to the 2024 resource estimate, NNLP now has an inferred resource of 11.24 million tonnes (Mt) of LCE at an average grade of 3,010 ppm lithium using a 1,250 ppm cutoff. This represents a significant increase in both size and quality compared to earlier estimates. It also positions NNLP as one of the highest‑grade lithium clay deposits in the United States.

Within that total resource, a core portion of 7.43 Mt of LCE grades 3,843 ppm lithium at a higher cutoff level. Higher cutoffs generally indicate more concentrated lithium zones, which are especially valuable for economic studies and future mine planning.

• SEE MORE: Nevada Lithium Hub: Why Surge Battery Metals Holds the Key to U.S. EV Independence

NNLP’s strong grades have grown progressively through drilling campaigns. In 2023, early drilling returned exceptionally high lithium values, including intervals that ranged up to 8,070 ppm lithium in specific clay horizons. These high grades were encountered close to the surface, which could simplify mining logistics.

Surge recently reinforced this grade advantage with new drilling results at NNLP. The company reported a 31-meter intercept grading 4,196 ppm lithium from surface in a 640-meter step-out hole to the southeast. This intercept is nearly 40% higher than the project’s current average grade of 3,010 ppm lithium. 

The 640-meter extension also confirms that high-grade mineralization continues well beyond the existing resource boundary. Near-surface grades above 4,000 ppm further support low stripping ratios and efficient future development.

Mr. Greg Reimer, CEO, President, and Director of Surge, said,

“These drill holes materially enhance the scale of the Nevada North Lithium Project. Intersecting nearly 4,200 ppm lithium in a 640‑meter step-out to the southeast in NNL‑037 is a significant achievement. Not only is the system continuous, but we are encountering some of our highest grades at the very edges of the known footprint. It is increasingly clear that we have only begun to tap the true potential size of this premier lithium asset.”

NNLP’s resource is also shallow and laterally extensive. The deposit extends over kilometers of strike and remains open for expansion in several directions. This suggests that further drilling could add more tonnes or improve the average grade even further.

These characteristics give NNLP a competitive advantage. High grades can translate into lower production costs per tonne of lithium. They can also support strong economic outcomes as the project progresses toward prefeasibility and eventual development.

Economics Speak for Itself

High lithium grades help improve the economic profile of a project. For developers like Surge Battery Metals, this means stronger project metrics in studies such as preliminary economic assessments (PEAs).

In the case of NNLP, the high-grade and large resource support robust economic results. A recent PEA shows an after‑tax net present value (NPV) of US$9.21 billion and an internal rate of return (IRR) of 22.8% at a lithium price of US$24,000 per tonne LCE. These figures reflect the project’s ability to generate strong cash flows over its lifespan.

High grade also means that a project can produce significant lithium volumes without requiring excessively large mining operations. This can reduce environmental footprint, capital cost, and permitting complexity. The Nevada North deposit’s grades help make future processing and extraction more efficient.

For investors, grade is a key signal of potential project strength. Projects with grades well above the global average often trade at premium valuations relative to peers with lower grades. 

NNLP’s resource quality has attracted notable attention from analysts and market observers because it combines a strong grade with domestic location in a mining‑friendly jurisdiction.

The Strategic Edge in a Competitive Market

The lithium market will continue to evolve over the next decade. Global EV adoption and energy storage deployment are expected to drive demand for lithium to new highs. This will require reliable supply sources that can deliver consistent volume and quality.

In this context, grade will remain a core metric for comparing lithium clay projects. Deposits with higher grades are more likely to attract the capital, partnerships, and offtake agreements needed to advance through development phases. They also offer clearer economic paths compared to lower‑grade alternatives.

For Surge Battery Metals and its Nevada North Project, high grade is more than a number on a chart. It is a core advantage that differentiates NNLP from many peer projects. It supports strong resource economics, efficient processing potential, and a compelling narrative for domestic supply chain relevance in electric vehicle and battery markets.

As global competition for lithium intensifies, projects with both size and quality will stand out. NNLP’s high‑grade resource positions it as a leading example of how grade can influence outcomes in modern lithium clay development.

• READ MORE: From Resource to Battery-Grade: How NILI Aims to Deliver 99% Purity Lithium

DISCLAIMER 

New Era Publishing Inc. and/or CarbonCredits.com (“We” or “Us”) are not securities dealers or brokers, investment advisers, or financial advisers, and you should not rely on the information herein as investment advice. Surge Battery Metals Inc. (“Company”) made a one-time payment of $75,000 to provide marketing services for a term of three months. None of the owners, members, directors, or employees of New Era Publishing Inc. and/or CarbonCredits.com currently hold, or have any beneficial ownership in, any shares, stocks, or options of the companies mentioned.

This article is informational only and is solely for use by prospective investors in determining whether to seek additional information. It does not constitute an offer to sell or a solicitation of an offer to buy any securities. Examples that we provide of share price increases pertaining to a particular issuer from one referenced date to another represent arbitrarily chosen time periods and are no indication whatsoever of future stock prices for that issuer and are of no predictive value.

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It is our policy that information contained in this profile was provided by the company, extracted from SEDAR+ and SEC filings, company websites, and other publicly available sources. We believe the sources and information are accurate and reliable but we cannot guarantee them.

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Certain statements contained in this news release may constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking information generally can be identified by words such as “anticipate,” “expect,” “estimate,” “forecast,” “plan,” and similar expressions suggesting future outcomes or events. Forward-looking information is based on current expectations of management; however, it is subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those anticipated.

These factors include, without limitation, statements relating to the Company’s exploration and development plans, the potential of its mineral projects, financing activities, regulatory approvals, market conditions, and future objectives. Forward-looking information involves numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking information. These risks and uncertainties include, among other things, market volatility, the state of financial markets for the Company’s securities, fluctuations in commodity prices, operational challenges, and changes in business plans.

Forward-looking information is based on several key expectations and assumptions, including, without limitation, that the Company will continue with its stated business objectives and will be able to raise additional capital as required. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, or intended.

There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially. Accordingly, readers should not place undue reliance on forward-looking information. Additional information about risks and uncertainties is contained in the Company’s management’s discussion and analysis and annual information form for the year ended December 31, 2025, copies of which are available on SEDAR+ at www.sedarplus.ca.

The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management’s current beliefs and is based on information currently available to the Company. The forward-looking information is made as of the date of this news release, and the Company assumes no obligation to update or revise such information to reflect new events or circumstances except as may be required by applicable law.

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