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April 9, 2025

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Maverick Metals Secures US$19 Million to Fast Track Metals Recovery Tech

Investing 3 Mins Read

Private specialty chemicals company Maverick Metals has raised US$19 million in a seed funding round led by Olive Tree Capital to accelerate the commercialization of its flagship lixiviant technology, LithX.

Unlike traditional acid-based processes, LithX enables cost-effective, ambient temperature leaching of refractory ores like chalcopyrite, unlocking metals previously considered uneconomical or too environmentally burdensome to process.

“As the US accelerates its push for domestic critical metals production, LithX provides a scalable, commercially viable path to securing essential materials,” said Eric Herrera, co-founder and CEO of Maverick.

The US$19 million funding round includes participation from high-profile investors such as Y Combinator, Hanwha Group, Liquid 2 Ventures, Nomadic Venture Partners, Soma Capital and TechNexus Venture Collaborative.

The capital will enable the company to expand pilot deployments in collaboration with major mining companies and scale its commercialization efforts.

Meeting rising metals demand with tech solutions

Global copper demand is expected to double by 2035, reaching approximately 50 million metric tons annually, driven largely by energy transition technologies, electric vehicles and infrastructure development.

But even as mining companies race to keep pace, challenges like declining ore grades, environmental restrictions and rising costs continue to limit production.

Maverick states that its proprietary lixiviant works at ambient temperatures and neutral pH levels, offering a safer, cheaper and more sustainable alternative to traditional acid leaching.

The technology enables the recovery not only of copper, but also valuable by-products such as molybdenum, gold, silver and even rare earths from a variety of unconventional sources — including tailings, smelter slag and coal fly ash.

According to Maverick, its LithX technology has demonstrated a range of benefits that could reshape the economics and the overall environmental footprint for metals processing.

For instance, the technology increases recovery rates at ambient temperatures, significantly reducing energy costs. It also eliminates the need for acid addition, offering a safer and more sustainable alternative to traditional methods.

In addition, Maverick notes that the process mitigates the risk of acid contamination and hazardous reagent exposure, enhancing worker safety — a key concern in traditional mining operations.

“We are pleased to announce our investment in and support of Maverick Metals,” said Nichola Eliovits, managing partner at Olive Tree Capital, in the company’s release. “We believe LithX has the potential to significantly increase the range of viable resources available to help alleviate global supply constraints.”

While copper remains a primary focus, LithX has shown versatility for a range of critical metals, such as high lithium extraction from spodumene and enhanced rare earths and gallium recovery from minerals like allanite and monazite.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

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Oil Markets Buckle Under Tariff Pressure, Recession Fears Tank Prices

Investing 4 Mins Read

The global oil market is facing a sharp downturn as a wave of recession fears, aggressive trade policies and a surprise supply boost from OPEC+ collide to send prices tumbling to multi-year lows.

Although crude prices staged a modest recovery on Tuesday (April 8), the broader market trajectory remains grim, with Brent and West Texas Intermediate (WTI) crude now trading well below levels needed for profitable production in the US.

Oil prices have dropped precipitously since early April, reaching levels not seen since 2021 on April 4 soon after US President Donald Trump’s announcement of sweeping new tariffs on dozens of countries.

Brent and WTI remain depressed despite small upticks on Tuesday, with Brent rising 1.03 percent to reach US$64.87 per barrel, and WTI gaining 1.24 percent to hit US$61.45 per barrel.

Double hit: Tariff shock and OPEC+ supply surge

The catalysts for the broad decline are a one-two punch of a deepening trade conflict between the US and China, and a surprise production surge from OPEC+ nations.

Trump’s tariff announcement — described by JPMorgan (NYSE:JPM) as the ‘largest tax hike on Americans since 1968’ — has rattled global markets and sent oil traders into a panic over demand destruction.

Beijing has responded with defiance, promising to fight to the end and calling Washington’s demands “blackmail.’

At the same time, OPEC+ — the alliance of major oil producers led by Saudi Arabia and Russia — announced an unexpected increase of 411,000 barrels per day in May output, compressing three months of planned supply expansion into a single move. The boost comes after months of US pressure to increase supply and push down energy prices.

But the timing could not have been worse for American producers. Analysts say the combined impact of slowing global trade and higher supply of the energy fuel has left the American oil industry vulnerable. Prices have dropped below the US$65 threshold needed to sustain profitable drilling activity across much of the US.

According to the latest Dallas Federal Reserve energy survey, even operations in the Permian Basin — the lowest-cost production zone in the country — require crude to trade above US$61 to remain economically viable.

“You’re probably seeing more pauses of initial investment intention than the initial Covid shock. It’s really bamboozling,” Rory Johnston, a veteran oil analyst and publisher of the Commodity Context newsletter, told Heatmap.

“Everything else is really, really starting to grind to a halt, and you’re not seeing anyone jumping over themselves to ‘drill, baby, drill,’ despite the White House’s claims,” Johnston added.

Equity markets have punished energy companies accordingly. Oilfield services giant Halliburton (NYSE:HAL) shed 20 percent in a single week, while Nabors Industries (NYSE:NBR) lost 30 percent in just five days.

The oil majors fared slightly better, but still saw significant losses, with ExxonMobil (NYSE:XOM) down 10 percent, Occidental Petroleum (NYSE:OXY) down 15 percent and Chevron (NYSE:CVX) falling 13 percent.

Tariff fallout threatens global energy outlook

There is growing concern among market watchers that if economic activity continues to weaken under the weight of tariffs, further declines in both oil and gas demand are likely.

Crucially, many of the countries most affected by Trump’s tariffs — particularly in Southeast Asia — were previously projected to drive the bulk of oil and energy demand growth over the next decade.

Vietnam, Cambodia and four other Southeast Asian nations were hit with tariffs exceeding 45 percent, prompting concerns that their economies could stall or contract.

“The macro concern is that if these tariffs stay where they are, this is in a global recession, if not a depression-making place,” Johnston elaborated in his conversation with Heatmap. “And given that the highest tariff rates are on Asia in particular, and that’s where all growing oil demand is, it’s not good for oil.”

Meanwhile, US producers are grappling with higher costs for drilling inputs due to tariffs on steel, aluminum and other industrial goods. Johnston explained in a Bluesky post that drillers have reported a 30 percent spike in the cost of tubular steel pipe, a critical material for oil and gas wells, since Trump implemented a 25 percent steel tariff in February.

So far, OPEC+ officials have not signaled any plans to curb output again.

For now, the market remains volatile, and producers are in a state of limbo. Despite early promises of energy dominance and renewed drilling, Trump’s policy choices have left the sector reeling.

“The administration’s chaos is a disaster for the commodity markets. ‘Drill, baby, drill’ is nothing short of a myth and populist rallying cry. Tariff policy is impossible for us to predict and doesn’t have a clear goal,” one executive told the Dallas Fed last month.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

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Silver Crown Royalties Purchases 1,000 Ounces of Physical Silver

Investing 6 Mins Read

(TheNewswire)

Silver Crown Royalties Inc. ( Cboe: SCRI, OTCQX: SLCRF, BF: QS0 ) ( ‘Silver Crown’ ‘SCRi’ the ‘Corporation’ or the ‘Company’ ) is pleased to announce the purchase of 1,000 ounces of physical silver in the spot market as part of its silver exposure strategy

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The purchase was completed at an average price of $30.65 per ounce and reflects an 8% discount to 20-day VWAP and an 11% discount to recent highs. The average price was based on spot price of US$30.15 per ounce plus a premium of US$0.50 per ounce, for a total investment of US$30,650. The physical silver will be stored with Money Metals Depository LLC, with the exact location to be confirmed, potentially at a designated sub-custodian facility managed by the depository.

Photo Credit: MoneyMetals.com

Peter Bures, Silver Crown’s Chief Executive Officer, commented, ‘We strive to maintain an adequate working capital position of at least six months. We feel it is only prudent as a silver only royalty company to convert a portion of that cash to physical silver. SCRi’s ultimate vision is to provide a vehicle that serves as a hedge against currency devaluation, and we therefore feel it would be hypocritical to have exposure to 100% fiat money. We appreciate our investors want exposure to silver, not fiat, which they can achieve easily without our assistance. The purchase was made with a cash payment received from PPX effectively converting a cash payment to physical silver bullion delivery.’

ABOUT Silver Crown Royalties INC.

Founded by industry veterans, Silver Crown Royalties ( Cboe: SCRI | OTCQX: SLCRF | BF: QS0 ) is a publicly traded, silver royalty company. Silver Crown (SCRi) currently has four silver royalties of which three are revenue-generating. Its business model presents investors with precious metals exposure that allows for a natural hedge against currency devaluation while minimizing the negative impact of cost inflation associated with production. SCRi endeavors to minimize the economic impact on mining projects while maximizing returns for shareholders. For further information, please contact:

Silver Crown Royalties Inc.

Peter Bures, Chairman and CEO

Telephone: (416) 481-1744

Email: pbures@silvercrownroyalties.com

FORWARD-LOOKING STATEMENTS

This release contains certain ‘forward looking statements’ and certain ‘forward-looking information’ as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as ‘may’, ‘will’, ‘should’, ‘expect’, ‘intend’, ‘estimate’, ‘anticipate’, ‘believe’, ‘continue’, ‘plans’ or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements and information include, but are not limited to, SCRi’s ultimate vision is to provide a vehicle that serves as a hedge against currency devaluation, and we therefore feel it would be hypocritical to have exposure to 100% fiat money . Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; the absence of control over mining operations from which SCRi will purchase gold and other metals or from which it will receive royalty payments and risks related to those mining operations, including risks related to international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; SCRi’s ability to enter into definitive agreements and close proposed royalty transactions; the inherent uncertainties related to the valuations ascribed by SCRi to its royalty interests; problems inherent to the marketability of gold and other metals; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; industry conditions, including fluctuations in the price of the primary commodities mined at such operations, fluctuations in foreign exchange rates and fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects SCRi; stock market volatility; regulatory restrictions; liability, competition, the potential impact of epidemics, pandemics or other public health crises on SCRi’s business, operations and financial condition, loss of key employees. SCRi has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. SCRi undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available.

This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

CBOE CANADA DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Copyright (c) 2025 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

This post appeared first on investingnews.com

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Heliostar Drills 8.85 Metres Grading 25.0 g/t Gold and 768 g/t Silver at the La Colorada Mine, Sonora, Mexico

Investing 16 Mins Read

HIGHLIGHTS:

  • 8.85m grading 25.0 g/t gold and 768 g/t silver
  • 8.55m grading 5.52 g/t gold and 121 g/t silver
  • 3.5m grading 5.41 g/t gold and 87 g/t silver
  • 5.5m grading 11.1 g/t gold
  • 2.9m grading 10.5 g/t gold
  • 4.6m grading 5.78 g/t gold
  • 5.75m grading 4.72 g/t gold
  • Higher-grade intercepts demonstrate underground potential beyond the current open pit
  • The success of this drill program called for additional step-out drilling. Results for these drill holes are expected in Q2, 2025
  • La Colorada technical report update incorporating these results is expected in mid-2025

Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) (‘Heliostar’ or the ‘Company’) is pleased to announce additional results from a 12,500-metre drilling program at the La Colorada Mine in Sonora, Mexico. La Colorada restarted production in early January 2025, and the current drill program is intended to expand the mineral reserves ahead of an updated technical report and expansion decision planned for mid-2025.

Heliostar CEO, Charles Funk, commented, ‘Heliostar closed the first quarter of 2025 with a US$27M (C$38M) cash balance, over half of which was generated from operating profits. This places the Company in a strong position to achieve our planned production and resource growth goals. Today’s results reflect these growth plans and further cement our confidence in the future of La Colorada. They are expected to positively impact the economics of the mine when we update the La Colorada technical report in mid-2025. Our goal is for the study to support a decision to expand production to 50,000 to 100,000 ounces of gold per year. Additionally, the high-grades intersected demonstrate a potential underground future for the mine. We intend to target these deeper zones in more detail after we complete the technical report.’

Drill Results Summary

Mineralization at La Colorada’s Creston Pit is predominantly hosted in three veins: the North, Intermediate and South Veins (Figure 1). These veins trend northeast-southwest to east-west, dip northward and are surrounded by halos of smaller mineralized vein zones. The Creston Pit has historically mined oxide gold and silver from all three of these veins. A current Probable Mineral Reserve of 312,000 ounces of gold grading 0.76 grams per tonne (g/t) gold and 5,074,000 ounces of silver at 10.1 g/t silver is defined at the Creston Pit1.

A technical review of expansion potential identified two opportunities for reserve growth. The near-surface extensions of known veins with little or no drill data and exploring the under-sampled mineralization beneath the pit. Both opportunities were defined using historical drilling, blast hole data, mining shapes, and the geological model.

Figure 1: Plan view of the Creston Pit showing historic drilling, blast hole samples and Heliostar drill holes.
Selected intercepts are labelled.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7729/247879_ef50e500f496a835_003full.jpg

Figure 2: Cross-section view looking west at the western end of the Creston Pit. The section shows historic drilling and new Heliostar drill hole results below the planned pit boundary.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7729/247879_ef50e500f496a835_004full.jpg

Blast hole data clearly shows the potential for a continuation of veins at shallow depths. They contain elevated gold grades that continue to the edge of the pit walls, where they remain open for expansion (Figure 1). At depth, drill spacing is wider than the area above. Additional drilling allows for improved estimation of grade and continuity.

The Company has completed seventy-two holes totalling 11,075 metres in the program to date. This release reports results for twenty-three new holes. The majority of the new drill holes targeted extensions of the North, Intermediate, and South Veins in areas where drilling is widely spaced yet within the current resource. They aim to add ounces to the overall El Creston resources and reserves.

Assay results show narrow to wide, low- to high-grade oxide gold intercepts. Targeted vein zones consistently return intercepts above the 0.16 g/t gold-equivalent cutoff grade of reserves within the Creston pit. The results may increase the tonnes and grade of mineralization in an updated pit shell. If so, that would add to the total reserves in an updated technical report.

Further, the success of the drill program to date has required modification of the remaining drill program plans. Numerous step-out drill holes have been added to follow-up on intercepts reported here. Results remain pending for these follow-up drill holes and are expected to be received in April and May.

Next Steps

Results from the current drill program are being incorporated into a resource model. They will support a reserve update to be published with a technical report in mid-2025.

This drill program is important because if it increases the volume of rock containing gold mineralization, it could improve the overall mine economics. Any zones of waste material with new gold intercepts from this program have the potential to reduce the overall strip ratio of the Creston pit expansion.

That, in turn, could reduce the up-front capital requirements for the restart and improve the economics of the Technical Report. This study will be the basis of a decision for the expansion of production at La Colorada.

The Company anticipates additional drilling results from the current program will be released in Q2, 2025.

La Colorada Mineral Reserves Statement

Classification Zone AuEq
Cut-off
(g/t)		 Tonnes
(kt)		 Gold Grade
(g/t Au)		 Silver
Grade
(g/t Ag)		 Contained
Gold
(koz)		 Contained Silver 
(koz)
Probable El Crestón 0.160 12,841 0.76 10.1 312 4,181
Veta Madre 0.175 1,905 0.70 3.1 43 189
La Chatarrera 0.164 3,413 0.20 6.4 22 704
Total 18,159 0.65 8.69 377 5,074

 

1. La Colorada Operations, Sonora, Mexico, NI 43-101 Technical Report (the ‘Report’) is dated January 11, 2024, has an effective date of December 4, 2024.

Drilling Results Table

HoleID From
(metres)		 To
(metres)		 Interval
(metres)		 Au
(g/t)		 Ag
(g/t)		 % True
Width		 Comment
24-LCDD-262 36.35 40.4 4.05 0.53 8.6 94 South Vein
24-LCDD-263 Abandoned
24-LCDD-264 165.05 178.4 13.35 0.34 43 74 North Vein
24-LCDD-265 8.35 11.1 2.75 0.34 6.2 28 South Vein
and 15.7 20.55 4.85 0.24 5.2 28 South Vein
and 76.9 92.3 15.4 0.19 2.8 44 South Vein
24-LCDD-266 22.3 28.95 6.65 0.50 2.5 82 South Vein
24-LCDD-267 No significant intervals
24-LCDD-268 15.85 28.1 12.25 0.40 4.8 15 South Vein
and 77.9 90.0 12.1 0.19 6.8 61 South Vein
24-LCDD-269 163.75 181.65 17.9 1.69 8.8 84 North Vein
including 167.7 172.3 4.6 5.78 16 84 North Vein
24-LCDD-270 24.55 33.4 8.85 1.89 82 89 South Vein
including 29.0 33.4 4.4 3.52 155 90 South Vein
24-LCDD-271 4.0 11.95 7.95 0.38 12 84 Intermediate Vein
and 50.0 58.85 8.85 25.0 768 71 South Vein
50.0 58.85 8.85 10.4 768 71 Top-cut to 20 g/t gold
and 64.2 68.0 3.8 4.32 178 70 South Vein
24-LCDD-272 2.05 35.6 33.55 1.04 22 68 Intermediate Vein
including 6.0 8.85 2.85 6.10 135 68 Intermediate Vein
and 70.2 80.85 10.65 0.22 5.4 81 South Vein
and 90.8 94.3 3.5 5.41 88 79 South Vein
90.8 94.3 3.5 4.31 88 79 Top-cut to 20 g/t gold
including 90.8 91.35 0.55 27.0 433 79 South Vein
90.8 91.35 0.55 20.0 433 79 Top-cut to 20 g/t gold
and 103.65 104.4 0.75 10.3 255 79 South Vein
and 107.55 112.05 4.5 0.84 23 79 South Vein
24-LCDD-273 7.85 10.2 2.35 0.45 10 79 Intermediate Vein
and 48.0 69.75 21.75 2.37 62 87 South Vein
48.0 69.75 21.75 1.97 62 87 Top-cut to 20 g/t gold
including 59.25 67.8 8.55 5.52 121 87 South Vein
59.25 67.8 8.55 4.50 121 87 Top-cut to 20 g/t gold
24-LCDD-274 103.8 126.15 22.35 0.21 6.5 67 North Vein
and 137.4 147.6 10.2 0.39 6.4 67 North Vein
25-LCDD-275 20.4 23.35 2.95 2.07 166 75 Intermediate Vein
and 29.25 33.75 4.5 0.40 9.0 89 Intermediate Vein
and 88.85 101.85 13.0 0.57 8.8 42 Intermediate Vein
and 120.55 128.1 7.55 0.72 13 100 South Vein
25-LCDD-276 104.7 135.95 31.25 0.53 4.2 49 North Vein
and 155.15 170.25 15.1 0.45 2.4 49 North Vein
25-LCDD-277 No significant intervals
25-LCDD-278 6.25 9.0 2.75 1.06 63 100 South Vein
and 14.1 33.0 18.9 0.61 31 100 South Vein
25-LCDD-279 0.0 5.6 5.6 0.72 30 100 Intermediate Vein
and 62.0 83.85 21.85 0.63 9.6 99 South Vein
25-LCDD-280 130.05 135.6 5.55 0.26 57 88 North Vein
and 141.85 145.9 4.05 0.27 54 88 North Vein
25-LCDD-281 Abandoned
25-LCDD-282 11.15 16.5 5.35 0.67 39 33 Intermediate Vein
25-LCDD-283 60.5 66.2 5.7 1.51 20 90 Intermediate Vein
and 82.15 99.65 17.5 1.90 6.8 84 Intermediate Vein
82.15 99.65 17.5 1.53 6.8 84 Top-cut to 23 g/t gold
including 89.05 91.95 2.9 10.5 15 84 Intermediate Vein
89.05 91.95 2.9 8.32 15 84 Top-cut to 23 g/t gold
and 107.0 110.0 3.0 1.92 21 85 Intermediate Vein
and 127.0 132.5 5.5 11.1 23 88 Intermediate Vein
127.0 132.5 5.5 9.14 23 88 Top-cut to 23 g/t gold
and 165.1 173.0 7.9 0.20 1.0 96 South Vein
and 179.95 191.85 11.9 0.23 2.2 96 South Vein
25-LCDD-284 52.0 61.0 9.0 1.87 3.2 84 Intermediate Vein
including 53.0 55.4 2.4 6.14 6.1 84 Intermediate Vein
and 69.2 74.6 5.4 0.52 3.2 84 Intermediate Vein
and 128.0 150.7 22.7 0.53 2.1 84 South Vein
25-LCDD-285 45.3 50.2 4.9 0.36 27 87 Intermediate Vein
and 79.45 100.75 21.3 0.28 9.8 84 Intermediate Vein
and 109.65 123.55 13.9 0.24 2.7 87 Intermediate Vein
and 130.15 140.1 9.95 0.38 5.0 99 Intermediate Vein
and 190.2 201.0 10.8 1.25 0.7 92 South Vein
including 199.05 201.0 1.95 5.94 1.1 94 South Vein
25-LCDD-286 38.05 43.8 5.75 4.72 10 92 Intermediate Vein
including 38.05 43.8 5.75 2.41 10 92 Top-cut to 23 g/t gold
and 67.5 95.45 27.95 0.35 7.7 95 Intermediate Vein
and 163.9 171.15 7.25 0.59 5.1 91 South Vein
25-LCDD-287 8.15 17.4 9.25 1.02 2.5 79 Intermediate Vein
and 28.05 39.7 11.65 0.63 6.3 74 Intermediate Vein
and 56.5 61.45 4.95 0.33 3.0 68 Intermediate Vein
and 116.0 146.75 30.75 0.18 1.4 86 South Vein
25-LCDD-288 13.4 17.0 3.6 0.46 15 91 Intermediate Vein
and 48.5 70.1 21.6 0.33 2.5 77 Intermediate Vein
and 120.75 125.5 4.75 0.58 1.0 99 South Vein
and 130.9 150.65 19.75 0.99 5.9 99 South Vein
including 132.0 133.1 1.1 10.1 50 99 South Vein
25-LCDD-289 10.5 23.05 12.55 0.55 17 95 North Vein
and 56.95 64.0 7.05 2.62 8.8 92 Intermediate Vein
including 56.95 58.9 1.95 8.76 14 92 Intermediate Vein
and 125.0 133.65 8.65 0.15 5.0 84 Intermediate Vein
and 169.3 179.4 10.1 0.82 4.1 82 Intermediate Vein

 

Table 2: Significant Drill Intersections

Drilling Coordinates Table

Hole ID Northing
(NAD27 CONUS
Zone 12N)		 Easting
(NAD27 CONUS
Zone 12N)		 Elevation
(metres)		 Azimuth
(°)		 Inclination
(°)		 Length
(metres)
24-LCDD-265 3185570 542775 389.8 000 -47 113.4
24-LCDD-266 3185676 542725 274.8 180 10 96.05
24-LCDD-267 3185754 543056 438.3 187 -40 69.5
24-LCDD-268 3185555 542750 392.4 000 -45 102.85
24-LCDD-269 3185954 542540 331.2 179 -60 298.3
24-LCDD-270 3185622 542401 206.7 202 -32 75.35
24-LCDD-271 3185633 542396 207.2 220 -31 124.45
24-LCDD-272 3185664 542415 206.5 217 -36 147.7
24-LCDD-273 3185636 542403 205.9 200 -54 114.05
24-LCDD-274 3185816 542788 248.7 000 +2 159.3
25-LCDD-275 3185715 542439 215.5 180 -56 167.0
25-LCDD-276 3185949 542700 315.6 180 -83 225.35
25-LCDD-277 3185853 542315 353.9 180 -56 258.6
25-LCDD-278 3185618 542414 209.0 180 0 55.15
25-LCDD-279 3185683 542515 198.1 180 -20 105.0
25-LCDD-280 3185810 542265 360.0 178 -50 325.7
25-LCDD-281 3185886 542389 346.7 178 -47 149.35
25-LCDD-282 3185786 542515 220.3 180 -85 124.6
25-LCDD-283 3185843 542685 237.6 169 -57 246.35
25-LCDD-284 3185822 542751 244.4 179 -62 191.4
25-LCDD-285 3185839 542715 240.5 173 -61 240.25
25-LCDD-286 3185837 542701 239.5 180 -48 205.05
25-LCDD-287 3185758 542735 251.1 215 -60 150.15
25-LCDD-288 3185817 542726 242.4 180 -58 180.5
25-LCDD-289 3185895 542775 305.9 193 -60 292.25

 

Table 3: Drill Hole Details

Quality Assurance / Quality Control

Core was drilled with PQ, HQ, and NQ tools, and the drill core was sawn in half, with one half submitted for analysis and one half retained as a record. Core samples were shipped to ALS Limited in Hermosillo, Sonora, Mexico, for sample preparation and for analysis at the ALS laboratory in North Vancouver. The Hermosillo and North Vancouver ALS facilities are ISO/IEC 17025 certified. Gold was assayed by a 30-gram fire assay with an atomic absorption spectroscopy finish, and overlimits were analyzed by a 30-gram fire assay with a gravimetric finish.

Control samples comprising certified reference and blank samples were systematically inserted into the sample stream and analyzed as part of the Company’s quality assurance / quality control protocol.

Statement of Qualified Person

Gregg Bush, P.Eng. and Stewart Harris, P.Geo., the Company’s Qualified Persons, as such term is defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, have reviewed the scientific and technical information that forms the basis for this news release and has approved the disclosure herein. Mr. Bush is employed as Chief Operating Officer of the Company, and Mr. Harris is employed as Exploration Manager of the Company.

Technical Report Reference

1 La Colorada Operations, Sonora, Mexico, NI 43-101 Technical Report (the ‘Report’) is dated January 11, 2024, has an effective date of December 4, 2024, and was prepared for Heliostar Metals Inc. by Mr. Todd Wakefield, RM SME, Mr. David Thomas, P.Geo., Mr. Jeffrey Choquette, P.E., Mr. Carl Defilippi, RM SME, and Ms. Dawn Garcia, CPG. The Report can be found under the Company’s profile on SEDAR+ (www.sedarplus.ca) and on Heliostar’s website (www.heliostarmetals.com).

About Heliostar Metals Ltd.
Heliostar is a gold mining company with production from operating mines in Mexico. This includes the La Colorada Mine in Sonora and the San Agustin Mine in Durango. The Company also has a strong portfolio of development projects in Mexico and the USA. These include the Ana Paula project in Guerrero, the Cerro del Gallo project in Guanajuato, the San Antonio project in Baja Sur and the Unga project in Alaska, USA.

FOR ADDITIONAL INFORMATION PLEASE CONTACT:

Charles Funk
President and Chief Executive Officer
Heliostar Metals Limited
Email: charles.funk@heliostarmetals.com
Phone: +1 844-753-0045		 Rob Grey
Investor Relations Manager
Heliostar Metals Limited
Email: rob.grey@heliostarmetals.com
Phone: +1 844-753-0045

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information

This news release includes certain ‘Forward-Looking Statements’ within the meaning of the United States Private Securities Litigation Reform Act of 1995 and ‘forward-looking information’ under applicable Canadian securities laws. When used in this news release, the words ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘target’, ‘plan’, ‘forecast’, ‘may’, ‘would’, ‘could’, ‘schedule’ and similar words or expressions, identify forward-looking statements or information. These forward-looking statements or information relate to, among other things, this places the Company in a strong position to achieve our planned production and resource growth goals. Today’s results reflect these growth plans and further cement our confidence in the future of La Colorada. They are expected to positively impact the economics of the mine when we update the La Colorada technical report in mid-2025. Our goal is for the study to support a decision to expand production to 50,000 to 100,000 ounces of gold per year. Additionally, the high grades intersected demonstrate a potential underground future for the mine. We intend to target these deeper zones in more detail after we complete the technical report. The Company anticipates additional drilling results from the current program will be released in Q2, 2025.

Forward-Looking statements and forward-looking information relating to the terms and completion of the Facility, any future mineral production, liquidity, and future exploration plans are based on management’s reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the receipt of necessary approvals, price of metals; no escalation in the severity of public health crises or ongoing military conflicts; costs of exploration and development; the estimated costs of development of exploration projects; and the Company’s ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.

These statements reflect the Company’s respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political, and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or forward-looking information and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: precious metals price volatility; risks associated with the conduct of the Company’s mining activities in foreign jurisdictions; regulatory, consent or permitting delays; risks relating to reliance on the Company’s management team and outside contractors; risks regarding exploration and mining activities; the Company’s inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of public health crises; the economic and financial implications of public health crises, ongoing military conflicts and general economic factors to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company’s interactions with surrounding communities; the Company’s ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption ‘Risk Factors’ in the Company’s public disclosure documents. Readers are cautioned against attributing undue certainty to forward-looking statements or forward-looking information. Although 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 anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/247879

News Provided by Newsfile via QuoteMedia

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1911 Gold Successfully Re-Enters the True North Mine and Receives Manitoba Mineral Development Fund Grant

Investing 9 Mins Read

1911 Gold Corporation (‘ 1911 Gold ‘ or the ‘ Company ‘) (TSXV: AUMB; OTCQB: AUMBF) is pleased to announce that the Company has completed the re-commissioning of the True North mine hoist system in the A Shaft and is now focused on completing all necessary electrical and mechanical work down to Level 16 of the underground mine. Several levels within the True North Mine are now accessible for rehabilitation, including Level 16 at a depth of 695 m below surface, and will be used for our underground drilling to reach key targets identified by the exploration team, including following the SAM Southeast and West targets to depth.

Highlights:

  • On March 19, 2025 , the Company received approval from the Mines Safety Unit for Workplace Safety and Health to commence hoist operations at the True North mine.
  • On March 23, 2025 , a maintenance crew completed the A Shaft inspection from surface down to Level 16 ( 695 m ).
  • Level 16 is a key level for the next phase of underground diamond drilling, as it requires minimal investment to provide the best access to multiple underground exploration targets.
  • On March 25 , 2025, Seok Joon Kim, P. Eng., joined the Company to work closely with Éric Vinet on the Company’s redevelopment strategy.
  • On April 2, 2025 , a Hancon Mining Inc. team completed the evaluation of the underground workings on Level 16, identifying areas that required rehabilitation and ventilation improvement to allow underground drilling to commence.
  • An unmanned cage has now reached Level 26 ( 1,145 m ), indicating that the deepest level of the shaft is dry and has no water. This will significantly reduce the anticipated dewatering time and cost of the mine at depth.
  • Overall, conditions in the underground mine were better than anticipated, with communications and electrical equipment quickly brought online in central areas and work well underway to extend this to new target areas.
  • The Company has been   approved for a $286,000 grant from the Manitoba Mineral Development Fund (‘MMDF’) to support the 2025 drill program.

Over the last several months, the Company has worked closely with key contractors to re-commission the hoist system for the A Shaft, providing access to the True North underground mine. This included full inspection and testing of all mechanical, electrical, and shaft infrastructure to ensure safe and effective operation of the hoist. Tests completed included stress testing of the hoist cables, free fall (drop) testing of the conveyances with full anticipated loads, and testing of the software for control systems. Approval from the Mine Safety Administration was received in mid-March, and inspection and repairs to the A Shaft commenced on March 20, 2025 . On March 23, 2025 , the maintenance team gained access to Level 16 and completed a thorough inspection of the electrical connections and communications system.

On April 3, 2025 , a thorough inspection of Level 16 and Level 3 ( 122 m ) (used for the San Antonio West target) was completed to identify rehabilitation work that will be required. Based on this inspection, the Company plans to complete the necessary rehabilitation by late May, including re-aligning the rail tracking, re-establishing electrical and ventilation to key parts of the drift, and reinforcing areas where drill pads are required.

The lack of water on Level 26 ( 1,145 m ), the deepest level of A Shaft, is a positive development and will allow ready access to a significant portion of the current resource. This also expedites the Company’s ability to target new resource expansion areas and commence redevelopment of the deeper portions of the mine.

Previously, on January 15, 2025 , the Company also opened and inspected the Hinge and Cohiba access declines. These declines also provide access to the 007, L-13 and L-10 deposits, key resource expansion areas.

‘This achievement is a critical step forward for 1911 Gold in pursuit of our restart strategy.’ Shaun Heinrichs , President and CEO, stated, ‘With access to Levels 3, 8 ( 340 m ), and 16, we will be able to aggressively pursue our resource growth strategy with an efficient and productive drill program from the underground. We are now closer to some of the best targets in the underground mine and have easy access to both new targets we identified as well as infill and extensions to the 43-101 resource released on November 20, 2024 . This is the next phase for 1911 Gold, and our team is excited about the opportunity this presents.’

On March 25, 2025 , Seok Joon Kim P.Eng ., an experienced underground mine engineer, joined the Company to work closely with Éric Vinet to build an underground mining strategy, support the exploration team, and oversee underground redevelopment activities.

Next Steps

With access to the underground now established, the Company will commence planning work for the rehabilitation of Levels 3, 8, and 16 in the underground to support future planned exploration. This will also facilitate the mine planning work underway, as the Company can inspect underground workings and determine development timelines and costs. Over the coming months, the Company expects to build a plan for future production that will be used to guide the underground drill targeting and assist in prioritizing target areas based on their near-term production potential, as well as define areas of significant resource growth.

Manitoba Mineral Development Fund

The Company is also pleased to report that it has been approved for a $285,636 grant from the Manitoba Mineral Development Fund (‘MMDF’) to support the 2025 drill program at the True North project in Manitoba, Canada .

Proceeds from this grant will go directly to fund the 2025 drill program that commenced in October 2024 , with a projected total of 30,000 meters of drilling within the mine lease area planned. This program continues to advance several new surface targets identified by 1911 Gold, based on the improved geological model developed in conjunction with the extensive work undertaken in 2024 to complete the mineral resource update (see news release dated November 20, 2024 ).

Deferred Share Units

The Company will also issue 125,000 deferred share units (‘DSUs’) to four directors under the LTIP in respect of Q1-2025 director fees. Each DSU entitles the holder to receive one share of the Company, or in certain circumstances a cash payment equal to the value of one share of the Company, at the time the holder ceases to be a director of the Company.

About 1911 Gold Corporation

1911 Gold is a junior explorer that holds a highly prospective, consolidated land package totaling more than 61,647 hectares within and adjacent to the Archean Rice Lake Greenstone belt in Manitoba , and also owns the True North mine and mill complex at Bissett, Manitoba . 1911 Gold believes its land package is a prime exploration opportunity, with the potential to develop a mining district centred on the True North complex. The Company also owns the Apex project near Snow Lake, Manitoba and the Denton-Keefer project near Timmins, Ontario , and intends to focus on organic growth and accretive acquisition opportunities in North America .

1911 Gold’s True North complex and exploration land package are located within the traditional territory of the Hollow Water First Nation, signatory to Treaty No. 5 (1875-76). 1911 Gold looks forward to maintaining open, co-operative and respectful communication with the Hollow Water First Nation, and all local stakeholders, in order to build mutually beneficial working relationships.

ON BEHALF OF THE BOARD OF DIRECTORS

Shaun Heinrichs
President and CEO

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This news release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as ‘plans’, ‘expects’ or ‘does not expect’, ‘is expected’, ‘budget’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’ or ‘does not anticipate’, or ‘believes’, or describes a ‘goal’, or variation of such words and phrases or state that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved.

All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, statements with respect to the terms of the Offering, the use of proceeds of the Offering, the timing and ability of the Company to close the Offering, the timing and ability of the Company to receive necessary regulatory approvals, the tax treatment of the securities issued under the Offering, the timing for the Qualifying Expenditures to be renounced in favour of the subscribers, and the plans, operations and prospects of the Company, are forward-looking statements. Although 1911 Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking 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.

All forward-looking statements contained in this news release are given as of the date hereof. 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 in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE 1911 Gold Corporation

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2025/09/c1593.html

News Provided by Canada Newswire via QuoteMedia

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Slain Hamas hostage’s family fights for the release of those still in Gaza

Politics 3 Mins Read

Oded Lifshitz was 83 years old when he was ripped from his home in Kibbutz Nir Oz along with his wife, Yocheved, during Hamas’ attacks against Israel on Oct. 7, 2023. Yocheved returned to Israel alive in October 2023 and has been advocating for other hostages’ release ever since. On Feb. 20, 2025, Oded returned to Israel in a coffin. His family, however, has not given up hope for those who remain in Gaza.

Daniel Lifshitz, Oded and Yocheved’s grandson, told Fox News Digital that, while the hostages who have returned have brought some light back to Kibbutz Nir Oz, nothing can really be done until all the hostages are back. As of the time of this writing, 13 hostages taken from Nir Oz are still in Gaza, and not all of them are alive.

When speaking to Fox News Digital, Daniel described his late grandfather as a ‘warrior of peace,’ explaining that while Oded served in four wars, he also fought for the rights of minorities.

Oded and Yocheved were peace activists who helped Palestinian pediatric cancer patients from Gaza cross into Israel for chemotherapy. In the eulogy she delivered at her husband’s funeral, Yocheved discussed their activism and said they ‘were hit by a terrible attack by those we helped on the other side,’ according to the Times of Israel’s translation.

Daniel explained that his grandmother felt betrayed not by Hamas or Islamic Jihad, but by Palestinian civilians who she and her husband had spent years helping. 

‘After October 7, they didn’t — we didn’t see the Palestinians going to protest outside against Hamas, going to protests for the release of the hostages, which they know if they would release all the hostage is that will be also the end of the war,’ Daniel told Fox News Digital. ‘And they need to show that they don’t want Hamas, and that is where my grandmother she feels really great betrayal because it’s for whom we try.’

Oded’s body was returned alongside those of Ariel and Kfir Bibas. The boys’ mother, Shiri Bibas, was supposed to be in the fourth coffin, but her remains were not there when the coffin arrived in Israel. Her body was returned two days later.

‘… their return together is symbolizing the failure of the international community for me because in those cars came a 9-month-old baby, the only baby held hostage in the world with an 83-year-old great-grandfather, the only great-grandfather health hostage world,’ Daniel told Fox News Digital. 

Daniel grew up with Shiri’s sister, Dana, who told Fox News Digital that she is like a sister to him.
When asked about the differences between the Biden administration and the Trump administration’s handling of the situation, Daniel told Fox News Digital that Trump’s team is ‘more creative.’

‘If one thing doesn’t work, they don’t continue. They try to bring another solution,’ Daniel told Fox News Digital.

In the face of tragedy, the Lifshitz family has refused to give up hope that the remaining hostages, alive and dead, will one day return home to Israel. Daniel also hopes his grandmother will be able to get some rest once she knows the hostages are home.

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VP Vance blasts McConnell’s vote against Trump Pentagon nominee: ‘Political pettiness’

Politics 2 Mins Read

Vice President JD Vance spoke out against Sen. Mitch McConnell’s, R-Ky., vote against confirming Elbridge Colby to serve as undersecretary of defense for policy.

‘Mitch’s vote today—like so much of the last few years of his career—is one of the great acts of political pettiness I’ve ever seen,’ Vance declared in a post on X.

Colby was confirmed in a 54-45 vote on Tuesday. McConnell was the only Senate Republican to vote against confirmation, while three Democrats voted in Colby’s favor.

President Donald Trump announced Colby as his pick for the Pentagon post when he was the president-elect.

‘Elbridge Colby’s long public record suggests a willingness to discount the complexity of the challenges facing America, the critical value of our allies and partners, and the urgent need to invest in hard power to preserve American primacy,’ McConnell said in a statement.

‘The prioritization that Mr. Colby argues is fresh, new, and urgently needed is, in fact, a return to an Obama-era conception of a la carte geostrategy. Abandoning Ukraine and Europe and downplaying the Middle East to prioritize the Indo-Pacific is not a clever geopolitical chess move. It is geostrategic self-harm that emboldens our adversaries and drives wedges between America and our allies for them to exploit,’ the senator asserted.

McConnell has voted against multiple Trump nominees this year.

‘Mr. Colby’s confirmation leaves open the door for the less-polished standard-bearers of restraint and retrenchment at the Pentagon to do irreparable damage to the system of alliances and partnerships which serve as force multipliers to U.S. leadership. It encourages isolationist perversions of peace through strength to continue apace at the highest levels of Administration policymaking,’ McConnell said.

Vance spoke out in support of Colby last month at a Senate Armed Services Committee hearing on Colby’s nomination.

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Trump pushes back on ‘rebel’ Republicans over tariffs: ‘You don’t negotiate like I negotiate’

Politics 2 Mins Read

President Donald Trump on Tuesday blasted some Republican members of Congress for trying to limit his presidential powers on instituting tariffs so that Congress could retake control.

Trump delivered a speech to the National Republican Congressional Committee, calling out ‘rebel’ Republicans while speaking about his trade policies.

‘And then I see some rebel Republican, some guy who wants to grandstand, say, ‘I think that Congress should take over negotiations.’ Let me tell you, you don’t negotiate like I negotiate,’ Trump said.

Rep. Don Bacon, R-Neb., is leading a bipartisan bill to block Trump from instituting tariffs and retake that power for Congress. Bacon told reporters earlier on Tuesday that he didn’t like ‘the thought of waging a trade war with the entire world.’ 

In the Senate, a bipartisan group led by Sens. Rand Paul, R-Ky., and Ron Wyden, D-Ore., is also introducing a resolution to repeal Trump’s global tariffs. 

Sens. Chuck Grassley, R-Iowa, and Maria Cantwell, D-Wash., have already introduced a bipartisan bill that would require the president to notify Congress about any new tariffs within 48 hours of imposition and require Congress to approve new tariffs within 60 days or allow them to expire.

Trump chewed out the Republicans over the proposed bills.

‘I just saw it today, a couple of your congressmen,’ Trump said before launching into an impression of a lawmaker. ”Sir, I think we should get involved in the negotiation of the tariffs.’ Oh, that’s what I need, I need some guy telling me how to negotiate.’

Trump said that should Congress take over tariff negotiations, China would be ‘the happiest people in the world.’

‘They wouldn’t be paying 104%,’ Trump said of China. ‘I’d say they’d be paying no percent — we’d be paying them 104%.’

Trump said that even the talk around Capitol Hill about limiting his tariff powers ‘hurts your negotiation,’ adding, ‘And then the fake news wants to build it up, and it has no chance anyway.’

‘We have to remain united as I defend workers from unfair trade,’ Trump said.

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Trump budget bill hangs in balance after president urges House GOP rebels to halt mutiny

Politics 4 Mins Read

House Republicans are divided over how to proceed on a massive piece of legislation aimed at advancing President Donald Trump’s agenda as a possible vote on the measure looms Wednesday afternoon.

The House Rules Committee, the final gatekeeper for legislation before a chamber-wide vote, is expected to consider the measure on Wednesday morning beginning at 8:45 a.m. ET.

Fiscal hawks are rebelling against GOP leaders over plans to pass the Senate’s version of a sweeping framework that sets the stage for a Trump policy overhaul on the border, energy, defense and taxes.

Their main concern has been the difference between the Senate and House’s required spending cuts, which conservatives want to offset the cost of the new policies and as an attempt to reduce the national deficit. The Senate’s plan calls for a minimum of $4 billion in cuts, while the House’s floor is much higher at $1.5 trillion.

Trump himself worked to sway critics twice on Tuesday – first with a smaller group of House GOP holdouts at the White House, then in a more public message during House Republicans’ campaign arm’s national fundraising dinner.

‘Close your eyes and get there. It’s a phenomenal bill. Stop grandstanding,’ the president said at the National Republican Congressional Committee (NRCC) event.

But it’s still unclear how many people that swayed.

‘The problem is, I think a lot of people don’t trust the Senate and what their intentions are, and that they’ll mislead the president and that we won’t get done what we need to get done,’ Rep. Rich McCormick, R-Ga., told reporters on Tuesday. ‘I’m a ‘no’ until we figure out how to get enough votes to pass it.’

McCormick said there were as many as 40 GOP lawmakers who were undecided or opposed to the measure.

A meeting with a select group of holdouts at the White House on Tuesday appeared to budge a few people, but many conservatives signaled they were largely unmoved.

‘I wouldn’t put it on the floor,’ Rep. Chip Roy, R-Texas, told reporters after the White House meeting. ‘I’ve got a bill in front of me, and it’s a budget, and that budget, in my opinion, will increase the deficit, and I didn’t come here to do that.’

Senate GOP leaders praised the bill as a victory for Trump’s agenda when it passed the upper chamber in the early hours of Saturday morning.

Trump urged all House Republicans to support it in a Truth Social post on Monday evening.

Meanwhile, House Republican leaders like Speaker Mike Johnson, R-La., have appealed to conservatives by arguing that passing the Senate version does not in any way impede the House from moving ahead with its steeper cuts.

The House passed its framework in late February.

Congressional Republicans are working on a massive piece of legislation that Trump has dubbed ‘one big, beautiful bill’ to advance his agenda on border security, defense, energy and taxes.

Such a measure is largely only possible via the budget reconciliation process. Traditionally used when one party controls all three branches of government, reconciliation lowers the Senate’s threshold for passage of certain fiscal measures from 60 votes to 51. As a result, it has been used to pass broad policy changes in one or two massive pieces of legislation.

Passing frameworks in the House and Senate, which largely only include numbers indicating increases or decreases in funding, allows each chamber’s committees to then craft policy in line with those numbers under their specific jurisdictions. 

Members of the conservative House Freedom Caucus have pushed for Johnson to allow the House GOP to simply begin crafting its bill without passing the Senate version, though both chambers will need to eventually pass identical bills to send to Trump’s desk.

‘Trump wants to reduce the interest rates. Trump wants to lower the deficits. The only way to accomplish those is to reduce spending. And $4 billion is not – that’s … anemic. That is really a joke,’ Rep. Eric Burlison, R-Mo., told reporters.

He said ‘there’s no way’ the legislation would pass the House this week.

The legislation could still get a House-wide vote late on Wednesday if the House Rules Committee advances the bill Wednesday morning.

As for the House speaker, he was optimistic returning from the White House meeting on Tuesday afternoon.

‘Great meeting. The president was very helpful and engaged, and we had a lot of members whose questions were answered,’ Johnson told reporters. ‘I think we’ll be moving forward this week.’

Fox News’ Ryan Schmelz and Aishah Hasnie contributed to this report.

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Biden admin held private talks with Beijing on Chinese spy balloon ahead of notifying public, officials say

Politics 4 Mins Read

Biden administration State Department officials held private talks with Beijing counterparts about the Chinese spy balloon that intercepted U.S. airspace in 2023, and discussed the implications the balloon’s publicity would have on the relationship between the U.S. and China, according to Trump administration officials. 

U.S. officials identified the spy balloon infiltrating U.S. airspace on Jan. 28, 2023, and an Air Force fighter jet shot down the Chinese spy balloon off the coast of South Carolina Feb. 4, 2023, two days after the Pentagon issued a statement on the matter.  

Biden officials held discussions with Beijing Feb. 1, 2023, about the balloon, and discussed the impact disclosing the balloon to the public could have on the relationship with China, internal State Department documents show, two Trump administration officials told Fox News Digital.  

 

An internal State Department readout of the talks between Blinken and a top Chinese diplomat said Blinken stated that if the presence of the balloon were revealed publicly, it could have ‘profound implications for our relationship’ with China, particularly amid efforts to stabilize the bilateral relationship with Beijing, two Trump administration officials familiar with the documents told Fox News Digital. 

The readout said that the incident could also have complicated Blinken’s travel plans to China in early February 2023, if not quickly resolved. Blinken ultimately postponed the trip until June 2023. 

A former Biden administration official told Fox News Digital that the State Department summoned senior Chinese diplomat Zhu Haiquan Feb. 1, 2023, so that the U.S. could notify China to remove the balloon, and issue a warning that the U.S. could take action to eliminate the balloon. 

‘Former Secretary Blinken advocated strongly to tell the American people about China’s rogue balloon, which is exactly what happened,’ a spokesperson for the former secretary of state said in a Tuesday statement to Fox News Digital. ‘He has a long history of being tough on China while actually delivering results.’

Likewise, another senior State Department official also held private talks on Feb. 1, 2023, with Chinese counterparts. A readout from that discussion says that the official claimed the longer it took to mitigate the issuewould only increase the likelihood that news of the balloon would become public, posing greater challenges managing the situation, the Trump administration officials said. 

Ultimately, the Pentagon issued a statement Feb. 2, 2023, claiming that the U.S. government had detected a ‘high-altitude surveillance balloon.’ 

While then-White House Press Secretary Karine Jean-Pierre told reporters that Biden received a briefing on the balloon on Jan. 31, 2023, she did not provide details regarding why his administration didn’t issue a statement on the matter until Feb. 2, 2023. 

Secretary of State Marco Rubio, then a U.S. senator from Florida, repeatedly criticized the Biden administration for how it handled disclosing information to the public about the balloon — and how long it took the administration to shoot it down. 

Biden’s failure to address the situation sooner was the ‘beginning of dereliction of duty,’ Rubio said during an appearance on CNN with Jake Tapper. 

‘Why didn’t the president go on television?’ Rubio told Tapper. ‘He has the ability to convene the country in cameras and basically explain what we’re dealing with here.’ 

On Feb. 4, 2023, an Air Force F-22 Raptor fighter jet from Virginia’s Langley Air Force Base shot down the balloon off the coast of South Carolina with an AIM-9X Sidewinder missile. 

At the time, the Pentagon said that while the balloon was not a military or physical threat, its presence in U.S. airspace did violate U.S. sovereignty. The Pentagon also shut down China’s initial claims that the balloon was a weather balloon blown off course and labeled such statements false. 

‘This was a PRC surveillance balloon,’ a senior defense official told reporters at the time. ‘This surveillance balloon purposely traversed the United States and Canada, and we are confident it was seeking to monitor sensitive military sites.’

The Pentagon also said after shooting down the balloon that similar balloons from China transited continental U.S. airspace in at least three instances during Trump’s first administration. 

Additionally, Biden ‘gave his authorization to take down the Chinese surveillance balloon as soon as the mission could be accomplished without undue risk to us civilians under the balloon’s path,’ the senior defense official said, noting that there was concern debris could harm civilians. 

The Pentagon later said in June 2023 that it did not believe that the balloon gathered information as it traveled across the U.S.

Blinken is now a speaker with CAA Speakers, which represents high-profile celebrities.

A spokesperson for Biden did not immediately provide comment to Fox News Digital. 

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