Breaking
Finance Global Insight
Archive

April 14, 2025

Browsing
Stock

The Bottom is Here or Rapidly Approaching

Stock 5 Mins Read

I pay attention to technical support levels as the combination of price support/resistance is always my primary stock market indicator. We’re in a downtrend and, in my opinion, the trading range is very, very clear on the S&P 500 right now:

I think most everyone can agree that much of the selling and fear and panic can be attributed the trade war – at least much of the weakness occurred with startling tariff news. So I figured I’d take a look at Q4 2018, which also experienced a 2-3 month bear market with the S&P 500 just barely reaching the prerequisite 20% drop. Here’s what that looked like:

The chart pattern during Q4 2018 was quite similar. The VIX more than tripled from under 12 to above 36. The VIX also more than tripled in 2025, after starting from a much higher level near 15. In both 2018 and 2025, that initial selling episode saw a drop of roughly 10% before consolidating. Then the next drop was another 10% or so. We don’t know if the selling for 2025 has ended, though, as that’s the wild card.

Here’s what we do know about sentiment. The VIX, with a value in the 50s, is signaling a potential S&P 500 bottom. Historically, surges in the VIX to this level or higher, have coincided either with stock market bottoms or they at least they suggest that any future selling in the S&P 500 is likely to be minor. Here’s a long-term monthly chart of the S&P 500 and the VIX, showing this relationship:

Extreme fear marks bottoms and I believe this is a great visual to support this belief. History tells us that when the VIX tops, we’ve either bottomed or we’re very close to bottoming.

Late last week, we saw both the March Core CPI and March Core PPI come in well below expectations, which was a good result for those hoping for rate cuts to begin again later this year. On Friday, a lot of folks were talking very bearish after the University of Michigan consumer sentiment plummeted to a near 50-year low. The problem with that bearish line of thinking is that sentiment is a contrarian indicator. Bearish readings tend to be quite bullish for stocks, while bullish readings can mark significant tops. Don’t believe me? Check out this chart and then provide me your best bearish argument:

The low readings in the green-shaded areas are actually very bullish. You can’t argue with history and facts. When the general public is feeling despair, it’s the time to buy stocks, not sell. And for those who believe this time is different, let’s check back in one year from now and let’s see where we are.

Note one more thing. The absolute highest consumer sentiment reading was at the beginning of 2000, just before the dot com bubble burst. Everyone felt great back then and the S&P 500 didn’t make a meaningful new all-time high for 13 years. So you tell me, would you rather see sentiment strength or weakness?

I know it sounds awful to hear that consumer sentiment readings are among the lowest in history and it likely makes little sense to many why the stock market would go higher while sentiment is so negative. But you have to remember that the stock market looks 6-9 months ahead. It’s not concerned with the news coming out now. It’s much more concerned about what the market environment will look like later this year.

Here’s my last point for today. We’ve begun to see more bullish rotation among sectors and between growth and value. Let me show you one final chart that highlights the rotation into growth as the S&P 500 continues its descent:

Notice the S&P 500 made its final high in February as money rotated quickly from growth to value in the two months prior. That was Wall Street exiting the riskier areas of the market, when everything still looked fine. It was one of the many reasons why I turned cautious and moved to cash in late January. Now the opposite is occurring. The S&P 500 is downtrending and the news just keeps getting worse. Meanwhile, Wall Street is happily buying all the risky shares you’d like to sell.

Listen, I’ve been wrong before and maybe I’m wrong and the S&P 500 continues to decline throughout 2025. But I trust my review of the market and my signals that have worked so well for me in the past. I’m perfectly fine owning stocks right now.

Tomorrow morning, in our free EB Digest newsletter, I’ll be showing everyone the extreme manipulation that’s been taking place in the stock market the past 4 weeks or so. Market makers are stealing (legally) from all of us. I spotted this manipulation back in June 2022, which helped me to go against the grain and call the market bottom then and I’m seeing it again now. To learn more, be sure to CLICK HERE and sign up for our FREE EB Digest newsletter, if you haven’t already. There’s no credit card required and you may unsubscribe at any time.

Happy trading!

Tom

Keep Reading
Investing

Editor’s Picks: Gold Breaks US$3,200, Experts Call for Price to Go Higher

Investing 4 Mins Read

This week has brought ups and downs for the gold price as US President Donald Trump’s tariff decisions continue to create widespread uncertainty across sectors globally.

The yellow metal started the week at about US$3,020 per ounce, but quickly tumbled below the US$3,000 level as markets around the world took a beating.

Although gold is known as a safe haven, it’s common for it to fall in tandem with other assets during widespread downturns. The idea is that gold won’t drop as hard and will recover more quickly.

Speaking just after gold’s fall, Gary Wagner of TheGoldForecast.com explained that its decline shouldn’t be concerning for investors. Here’s how he explained it:

‘One thing that is clear is that when equities came under fire … liquidation happened across the board in multiple asset groups and classes. Gold was kind of a witness to that, and the massive liquidation that occurred was either to liquidate profitable positions to cover margin calls, or just to get more into cash than they had been in terms of the position of the portfolio. So to me it’s not that unexpected, and the amount of the decline is actually fairly calm considering how much it’s gone up.’

Wagner’s advice not to worry about gold’s pullback was prescient — the precious metal was back on the move by Wednesday (April 9), and on Thursday (April 10) it notched yet another fresh all-time high.

It continued moving upward on Friday (April 11), breaking US$3,200 and setting another price record.

Gold’s midweek rebound came after Trump’s turnaround on tariffs — in a surprise move on Wednesday, he announced a 90 day pause on ‘reciprocal’ tariffs for most countries.

China is an exception — Trump said he would be boosting China’s rate to 125 percent after the Asian nation announced further retaliatory tariffs against the US. It’s since been clarified that tariffs on China stand at 145 percent; on Friday, China said it would raise its tariffs on the US to 125 percent.

Canada and Mexico are also exceptions. Most goods from these countries are already subject to 25 percent tariffs, and these will remain in place. Blanket 25 percent tariffs on cars and car parts, as well as steel and aluminum, have also not been affected at this point.

The reversal from Trump came not long after he encouraged his followers on Truth Social to ‘be cool’ and told them it was ‘a great time to buy.’ It also reportedly came after White House officials put increasing pressure on Trump to change course. Worries about a selloff in US government bonds raised alarm bells, with Treasury Secretary Scott Bessent taking these concerns to Trump.

‘The bond market is very tricky, I was watching it. The bond market right now is beautiful. But yeah, I saw last night where people were getting a little queasy’ — Trump

Major US indexes rebounded strongly once Trump announced his decision, and although they had given up some gains by the end of the week, they still finished the period in the green.

In terms of where that leaves gold, many experts with agree its prospects still look bright even as it trades at all-time highs. Here’s what Will Rhind of GraniteShares said:

‘If you look at something called the M2 ratio, which is the money supply divided by the price of gold, that is a particularly scary chart. Obviously if history is any guide, then when the ratio is high, that typically means that gold is overvalued, and when the ratio is low, that typically means that gold is undervalued.

‘If you look at it right now, we’re somewhat I would say below the median. In other words, we’re closer to gold being undervalued rather than overvalued at a time when we just talked about gold hitting a new all-time high.’

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

This post appeared first on investingnews.com

Keep Reading
Investing

Top 5 Canadian Silver Stocks of 2025

Investing 9 Mins Read

Silver-mining companies and juniors have seen support from a strong silver price in 2025. Since the start of the year, the price of silver has increased by over 11 percent as of April 11, and it reached a year-to-date high of US$34.38 per ounce on March 27.

Silver’s dual function as a monetary and industrial metal offers great upside. Demand from energy transition sectors, especially for use in the production of solar panels, has created tight supply and demand forces.

Demand is already outpacing mine supply, making for a positive situation for silver-producing companies.

So far, aboveground stockpiles have been keeping the price in check, but the expectation is those stocks will be depleted in 2025 or 2026, further restricting the supply side of the market.

How has silver’s price movement benefited Canadian silver stocks on the TSX, TSXV and CSE? The five companies listed below have seen the best performances since the start of the year. Data was gathered using TradingView’s stock screener on February 12, 2025, and all companies listed had market caps over C$10 million at that time.

1. Discovery Silver (TSX:DSV)

Year-to-date gain: 185.92 percent
Market cap: C$848.98 million
Share price: C$2.03

Discovery Silver is a precious metals development company focused on advancing its Cordero silver project in Mexico. Additionally, it is looking to become a gold producer with its recently announced acquisition of the producing Porcupine Complex in Ontario, Canada.

Cordero is located in Mexico’s Chihuahua State and is composed of 26 titled mining concessions covering approximately 35,000 hectares in a prolific silver and gold mining district.

A 2024 feasibility study for the project outlines proven and probable reserves of 327 million metric tons of ore containing 302 million ounces of silver at an average grade of 29 grams per metric ton (g/t) silver, and 840,000 ounces of gold at an average grade of 0.08 g/t gold. The site also hosts significant zinc and lead reserves.

The report also indicated favorable economics for development. At a base case scenario of US$22 per ounce of silver and US$1,600 per ounce of gold, the project has an after-tax net present value of US$1.18 billion, an internal rate of return of 22 percent and a payback period of 5.2 years.

Discovery’s shares gained significantly on January 27, after the company announced it had entered into a deal to acquire the Porcupine Complex in Canada from Newmont (TSX:NGT,NYSE:NEM).

The Porcupine Complex is made up of four mines including two that are already in production: Hoyle Pond and Borden. Additionally, a significant portion of the complex is located in the Timmins Gold Camp, a region known for historic gold production.

Discovery anticipates production of 285,000 ounces of gold annually over the next 10 years and has a mine life of 22 years. Inferred resources at the site point to significant expansion, with 12.49 million ounces of gold, from 254.5 million metric tons of ore with an average grade of 1.53 g/t.

Upon the closing of the transaction, Discovery will pay Newmont US$200 million in cash and US$75 million in common shares, and US$150 million of deferred consideration will be paid in four payments beginning on December 31, 2027.

According to Discovery in its full-year 2024 financial results, the Porcupine acquisition will help support the financing, development and operation of Cordero. Discovery’s share price reached a year-to-date high of C$2.12 on March 31.

2. Almaden Minerals (TSX:AMM)

Year-to-date gain: 136.36 percent
Market cap: C$16.47 million
Share price: C$0.13

Almaden Minerals is a precious metals exploration company working to advance the Ixtaca gold and silver deposit in Puebla, Mexico. According to the company website, the deposit was discovered by Almaden’s team in 2010 and has seen more than 200,000 meters of drilling across 500 holes.

A July 2018 resource estimate shows measured resources of 862,000 ounces of gold and 50.59 million ounces of silver from 43.38 million metric tons of ore, and indicated resources of 1.15 million ounces of gold and 58.87 million ounces of silver from 80.76 million metric tons of ore with a 0.3 g/t cutoff.

In April 2022, Mexico’s Supreme Court of Justice (SCJN) ruled that the initial licenses issued in 2002 and 2003 would be reverted back to application status after the court found there had been insufficient consultation when the licenses were originally assigned.

Ultimately, the applications were denied in February 2023, effectively halting progress on the Ixtaca project. While subsequent court cases have preserved Almaden’s mineral rights, it has yet to restore the licenses to continue work on the project.

In June 2024, Almaden announced it had confirmed up to US$9.5 million in litigation financing that will be used to fund international arbitrations proceedings against Mexico under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

In a December update, the company announced that several milestones had been achieved, including the first session with the tribunal, at which the company was asked to submit memorial documents outlining its legal arguments by March 20, 2025. At that time, the company stated it would vigorously pursue the claim but preferred a constructive resolution with Mexico.

In its most recent update on March 21, the company indicated that it had submitted the requested documents, claiming US$1.06 billion in damages. The memorial document outlines how Mexico breached its obligations and unlawfully expropriated Almaden’s investments without compensation.

Shares in Almaden reached a year-to-date high of C$0.135 on February 24.

3. Avino Silver & Gold Mines (TSX:ASM)

Year-to-date gain: 98.43 percent
Market cap: C$373.48 million
Share price: C$2.52

Avino Silver and Gold Mines is a precious metals miner with two primary silver assets: the producing Avino silver mine and the neighboring La Preciosa project in Durango, Mexico.

The Avino mine is capable of processing 2,500 metric tons of ore per day ore, and according to its FY24 report released on January 21 the mine produced 1.1 million ounces of silver, 7,477 ounces of gold and 6.2 million pounds of copper last year. Overall, the company saw broad production increases with silver rising 19 percent, gold rising 2 percent and copper increasing 17 percent year over year.

In addition to its Avino mining operation, Avino is working to advance its La Preciosa project toward the production stage. The site covers 1,134 hectares, and according to a February 2023 resource estimate, hosts a measured and indicated resource of 98.59 million ounces of silver and 189,190 ounces of gold.

In a January 15 update, Avino announced it had received all necessary permits for mining at La Preciosa and begun underground development at La Preciosa. It is now developing a 350-meter mine access and haulage decline. The company said the first phase at the site is expected to be under C$5 million and will be funded from cash reserves.

The latest update from Avino occurred on March 11, when it announced its 2024 financial results. The company reported record revenue of $24.4 million, up 95 percent compared to 2023. Avino also reduced its costs per silver ounce sold.

Additionally, Avino reported a 19 percent increase in production in 2024, producing 1.11 million ounces of silver compared to 928,643 ounces in 2023. The company’s sales also increased, up by 23 percent to 2.56 million ounces of silver compared to 2.09 million ounces the previous year.

Avino’s share price marked a year-to-date high of C$2.80 on March 27.

4. Highlander Silver (CSE:HSLV)

Year-to-date gain: 90 percent
Market cap: C$160.17 million
Share price: C$1.90

Highlander Silver is an exploration and development company advancing projects in South America.

Its primary focus has been the San Luis silver-gold project, which it acquired in a May 2024 deal from SSR Mining (TSX:SSRM,NASDAQ:SSRM) for US$5 million in upfront cash consideration and up to an additional US$37.5 million if Highlander meets certain production milestones.

The 23,098 hectare property, located in the Ancash department of Peru, hosts a historic measured and indicated mineral resource of 9 million ounces of silver, with an average grade of 578.1 g/t, and 348,000 ounces of gold at an average grade of 22.4 g/t from 484,000 metric tons of ore.

In July 2024, the company said it was commencing field activities at the project; it has not provided results from the program. In its December 2024 management discussion and analysis, the company stated it was undertaking a review of prior exploration plans and targets, adding that it believes there is exceptional growth potential.

Highlander’s most recent news came on March 11, when it announced it had closed an upsized bought deal private placement for gross proceeds of C$32 million. The company said it will use the funding to further exploration activities at San Luis and for general working capital.

Shares in Highlander reached a year-to-date high of C$1.96 on March 31.

5. Santacruz Silver Mining (TSXV:SCZ)

Year-to-date gain: 85.45 percent
Market cap: C$192.16 million
Share price: C$0.51

Santacruz Silver is an Americas-focused silver producer with operations in Bolivia and Mexico. Its producing assets include the Bolivar, Porco and Caballo Blanco Group mines in Bolivia, along with the Zimapan mine in Mexico.

In a production report released on January 30, the company disclosed consolidated silver production of 6.72 million ounces, marking a 4 percent decrease from the 7 million ounces produced in 2023. This decline was primarily attributed to a reduction in average grades across all its mining properties.

In addition to its producing assets, Santacruz also owns the greenfield Soracaya project. This 8,325-hectare land package is located in Potosi, Bolivia. According to an August 2024 technical report, the site hosts an inferred resource of 34.5 million ounces of silver derived from 4.14 million metric tons of ore with an average grade of 260 g/t.

Shares in Santacruz reached a year-to-date high of C$0.59 on March 18.

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

This post appeared first on investingnews.com

Keep Reading
Investing

Spearmint Significantly Increases Acreage on the Sisson North Tungsten Project in New Brunswick

Investing 3 Mins Read

Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the ‘Company’ or ‘Spearmint’) wishes to announce that it has significantly increased the acreage of the ‘Sisson North Tungsten Project’ in New Brunswick directly bordering the Sisson Tungsten Mine. This new project now consists of approximately 4,890 contagious acres increased from 2,582 prospective for tungsten.

James Nelson, President of Spearmint stated, ‘There continues to be strong demand for commodities caught in the middle of global tariff battles—particularly tungsten. Considering these developments, we believe there will be increasing emphasis on securing domestic sources of strategic materials. With commodity prices remaining elevated and gold at all-time highs, we anticipate a much more buoyant junior mining market. With multiple active projects, Spearmint is well positioned to take advantage of these market conditions.’

​In April 2025, China’s export controls on tungsten continued to impact global supply chains and market dynamics. These measures, initiated in February, require exporters to obtain licenses for shipping tungsten and other critical minerals abroad, citing national security and non-proliferation concerns.​

The restrictions have led to increased prices and supply uncertainties, particularly affecting industries reliant on tungsten, such as defense and clean energy sectors. Analysts anticipate that Chinese-supplied tungsten may be scarce in the global markets.

In response to these challenges, companies and countries are exploring alternative sources and strategies to mitigate the impact of China’s export controls on tungsten.

Tungsten has always been a valuable material due to its unique properties, such as its extremely high melting point, strength, and durability. It is used in a wide variety of applications, including manufacturing hard metals, electronics, lightbulb filaments, and in military and aerospace technologies. However, China’s actions regarding tungsten have made it even more valuable for several reasons.

In short, the combination of China’s tightening control over tungsten production and the growing demand for this critical material has made tungsten even more valuable on the global market.

Qualified person for mining disclosure:

The technical contents of this release were reviewed and approved by Frank Bain, PGeo, a director of the company and qualified person as defined by National Instrument 43-101.

About Spearmint Resources Inc.

Spearmint’s projects include four projects in Clayton Valley, Nevada: the 1,136-acre McGee lithium clay deposit, which has a resource estimate of 1,369,000 indicated tonnes and 723,000 inferred tonnes of lithium carbonate equivalent (LCE) for a total of 2,092,000 tonnes of LCE, directly bordering Pure Energy Minerals & Century Lithium Corp.; the 280-acre Elon lithium brine project, which has access to some of the deepest parts of the only lithium brine basin in production in North America; the 124-acre Green Clay lithium project; and the 248-acre Clayton Ridge gold project, the 4,722-acre George Lake South Antimony Project in New Brunswick and the 4,890 acre Sisson North Tungsten Project.

This project was acquired via staking.

For a cautionary note and disclaimer on the crypto diversification, please refer to the news release dated November 12, 2024.

Contact Information
Tel: 1604646-6903
www.spearmintresources.ca

info@spearmintresources.ca

‘James Nelson’
President
Spearmint Resources Inc.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/248370

News Provided by Newsfile via QuoteMedia

This post appeared first on investingnews.com

Keep Reading
Investing

Osisko Metals Intersects 300 Metres Averaging 0.39% Copper at Gaspé Copper Project

Investing 11 Mins Read

Osisko Metals Incorporated (the ‘ Company or ‘ Osisko Metals ‘) ( TSX-V: OM ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) is pleased to announce initial drilling results from the 2025 drilling program at the Gaspé Copper Project, located in the Gaspé Peninsula of Eastern Québec. Results for five holes are reported below, collared at the southern margin of the mineralized deposit as defined in the 2024 Mineral Resource Estimate (MRE, see attached map and November 14, 2024 news release ).

Highlights (see Table 1 below):

  • Drill hole 30-1059 intersected 300.0 metres grading 0.39% Cu and 3.17 g/t Ag within the 2024 MRE model where there was limited historical data.
  • Drill hole 30-1060 intersected 220.5 metres grading 0.29% Cu and 2.09 g/t Ag within the 2024 MRE model, as well as 211.0 metres grading   0.42% Cu and 2.27 g/t Ag at depth below the 2024 MRE model, extending mineralization to a vertical depth of 598 metres.
  • Drill hole 30-1063 intersected 109.5 metres grading 0.32% Cu and 2.52 g/t Ag within the 2024 MRE model, as well as 61.5 metres grading   0.33% Cu and 2.60 g/t Ag, and 43.5 metres grading   0.48% Cu and 3.20 g/t Ag at depth below the 2024 MRE model, extending mineralization to a vertical depth of 678 metres.
  • Drill hole 30-1069 intersected 237.0 metres grading 0.32% Cu and 2.46 g/t Ag within the 2024 MRE model, as well as 148.8 metres grading   0.63% Cu and 4.40 g/t Ag at depth below the 2024 MRE model, extending mineralization to a vertical depth of 528 metres.
  • Drill hole 30-947, an un-assayed historical hole located 110 metres south of the 2024 MRE model, was stockpiled on site and the core recovered and assayed, yielding five significant intersections, including 82.0 metres grading 0.31% Cu and 2.55 g/t Ag. These results indicate that the deposit is open to the south.

Robert Wares, Osisko Metals CEO, commented: ‘We are very pleased with these new drill results at Gaspé, which have exceeded our expectations. All holes intersected significant disseminated mineralization within the volume of the 2024 MRE model, and new mineralization has been added at depth well below the base of the 2024 MRE model, which was constrained to the lower contact of the C Zone skarn horizon. Drill core from historical hole 30-947 was also recovered and assayed, yielding positive results and indicating that the deposit extends laterally 110 metres south of the 2024 MRE model and remains open in that direction. This is an excellent start to the 2025 drill program, and we look forward to a regular flow of results from our 110,000-metre program as we confirm our large existing copper resource, and aim to expand it at depth, to the south and to the west towards Needle Mountain.’

Table 1: Drill Hole Mineralized Intervals; intersections indicated in bold occur outside the November 2024 MRE model. See attached map for drill hole locations.

DDH No.

From To Intersection Cu Ag Mo
(m) (m) (m) % g/t %
30-0947 41.0 106.0 65.0 0.17 1.49
And 159.5 194.0 34.5 0.30 2.13
And 229.0 311.0 82.0 0.31 2.55
And 408.0 444.9 36.9 0.34 2.98 0.010
And 485.5 533.5 48.0 0.33 2.85
30-1059 8.0 308.0 300.0 0.39 3.17
And 501.0 535.0 34.0 0.28 2.33
30-1060 26.0 246.5 220.5 0.29 2.09
And 387.0 598.0 211.0 0.42 2.27 0.009
30-1063 86.0 155.0 69.0 0.56 3.30
(including) 114.2 120.6 6.4 3.19 16.8
And 192.0 301.5 109.5 0.32 2.52 0.019
And 490.5 552.0 61.5 0.33 2.60 0.011
And 634.5 678.0 43.5 0.48 3.20
30-1069 30.0 267.0 237.0 0.32 2.46
(including) 252.0 264.0 12.0 1.46 9.76
And 303.0 342.0 39.0 0.81 6.85
And 374.7 528.5 148.8 0.63 4.40
(including) 442.5 482.2 39.7 1.21 8.18

All drill holes were drilled sub-vertically into the Gaspé Copper altered calcareous stratigraphy that dips 20 to 25 degrees to the north; true widths are estimated at 90-92% of reported widths. The L1 (C Zone) the L2 (E Zone) skarn/marble horizons were intersected in all holes, as well as intervening porcellanites (potassic-altered hornfels) that host the bulk of the disseminated copper mineralization.

Mineralization occurs as disseminations and veinlets of chalcopyrite and is mostly stratigraphically controlled in the area of Needle Mountain, Needle East and Copper Brook. As expected, no significant molybdenum mineralization was encountered in porcellanites in the latter areas, but high grades (up to 0.4% Mo) were locally obtained in both the C Zone and E Zone skarns. The bulk of the molybdenum mineralization occurs in the stockworks further north at Copper Mountain, where true porphyry copper-style stockwork mineralization occurs, forming a distinct secondary mineralized zone that is characterized by widespread, continuous copper-molybdenum mineralization radiating from the central source of hydrothermal fluids, i.e. the Copper Mountain porphyry intrusion. At least five vein/stockwork mineralizing events have been recognized at Copper Mountain, which overprint earlier skarn/porcellanite-hosted mineralization throughout the Gaspé Copper system. The 2022 to 2024 Osisko Metals drill programs were focused on defining open-pit resources within the Copper Mountain stockwork mineralization, leading to the May 2024 MRE (see May 6, 2024 press release ). Extending the resource model south of Copper Mountain into the poorly-drilled primary skarn/porcellanite portion of the system subsequently led to a significantly increased resource, mostly in the Inferred category (see November 14, 2024 press release ).

The 2025 drill program is primarily designed to convert the November 2024 MRE to Measured and Indicated categories, as well as test the expansion of the system deeper into the stratigraphy and laterally to the south and southwest towards Needle East and Needle Mountain respectively.

Qualified Person

Mr. Bernard-Olivier Martel, P. Geo., an independent consultant, is the Qualified Person responsible for the technical data reported in this news release and he is a Professional Geologist registered in the Province of Quebec.

Quality Assurance / Quality Control

Mineralized intervals reported herein are calculated using an average 0.12% copper lower cutoff over contiguous 20-metre intersections (shorter intervals as the case may be at the upper and lower limits of reported intervals).

Osisko Metals adheres to a strict QA/QC program for core handling, sampling, sample transportation and analyses, including insertion of blanks and standards in the sample stream. Drill core is securely transported to its core processing facility on site, where it is logged, cut and sampled. Samples selected for assay are sealed and shipped to ALS Canada Ltd.’s preparation facility in Sudbury. Pulps are analyzed at the ALS Canada Ltd. facility in North Vancouver, BC. All samples are analyzed by four acid digestion followed by both ICP-AES and ICP-MS for copper, molybdenum and silver.

About Osisko Metals

Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc. The Company acquired a 100% interest in the past-producing Gaspé Copper mine from Glencore Canada Corporation in July 2023. The Gaspé Copper mine is located near Murdochville in Québec ‘ s Gaspé Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper system, with current Indicated Mineral Resources of   824 Mt grading 0.34% CuEq and Inferred Mineral Resources of 670 Mt grading 0.38% CuEq (in compliance with NI 43-101). For more information, see Osisko Metals’ November 14, 2024 news release entitled ‘ Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé Copper ‘. Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.

In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point Mining Limited joint venture to advance one of Canada ‘ s largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of Indicated Mineral Resources of 49.5 Mt at 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt at 5.64% ZnEq (in compliance with NI 43-101). For more information, see Osisko Metals ‘ June 25, 2024 news release entitled ‘Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq’ . The Pine Point project is located on the south shore of Great Slave Lake, Northwest Territories, close to infrastructure, with paved road access, an electrical substation and 100 kilometers of viable haul roads.

For further information on this news release, visit www.osiskometals.com or contact:

Don Njegovan, President Email: info@osiskometals.com

Cautionary Statement on Forward-Looking Information

This news release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as ‘expects’, or ‘does not expect’, ‘is expected’, ‘interpreted’, management’s view’, ‘anticipates’ or ‘does not anticipate’, ‘plans’, ‘budget’, ‘scheduled’, ‘forecasts’, ‘estimates’, ‘potential’, ‘feasibility’, ‘believes’ or ‘intends’ or variations of such words and phrases or stating that certain actions, events or results ‘may’ or ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the tax treatment of the FT Units; the timing of incurring the Qualifying Expenditures and the renunciation of the Qualifying Expenditures; the ability to advance Gaspé Copper to a construction decision (if at all); the ability to increase the Company’s trading liquidity and enhance its capital markets presence; the potential re-rating of the Company; the ability for the Company to unlock the full potential of its assets and achieve success; the ability for the Company to create value for its shareholders; the advancement of the Pine Point project; the anticipated resource expansion of the Gaspé Copper system and Gaspé Copper hosting the largest undeveloped copper resource in eastern North America.

Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: the ability of exploration results, including drilling, to accurately predict mineralization; errors in geological modelling; insufficient data; equity and debt capital markets; future spot prices of copper and zinc; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; political and regulatory stability; the receipt of governmental and third party approvals; licenses and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of mining equipment and positive relations with local communities and groups. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.ca) under Osisko Metals’ issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/86f64a14-ab80-44b9-804a-0b997e5fc82e

News Provided by GlobeNewswire via QuoteMedia

This post appeared first on investingnews.com

Keep Reading
Investing

Juggernaut Announces Strategic Investment by Crescat Capital Funds for 28.95% Ownership – Dr. Quinton Hennigh Technical Advisor

Investing 7 Mins Read

(TheNewswire)

Vancouver, British Columbia TheNewswire – April 14 th, 2025 Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the ‘Company’ or ‘Juggernaut’) is pleased to announce a non-brokered financing of up to $2,650,000. Crescat Capital Funds LLC (‘Crescat’) has agreed to make a strategic investment representing a 28.95% ownership of the Company post-funding on a partially diluted basis. Juggernaut welcomes this strategic investment from Crescat Capital and technical support from Dr Quinton Hennigh. Juggernaut’s Big One Project is garnering strong interest and support from leading institutions and miners globally, confirming the quality of the newly discovered 11 km Highway of Gold surrounding the Eldorado porphyry system on the Big One property. The exciting discovery is in an area of glacial and snowpack abatement next door to the world-class gold-rich porphyry systems at Newmont Mining’s Galore Creek. The Big One Property is a discovery with assays up to 79.01 gt gold (2.54 ozt gold) and 3157.89 gt silver (101.5 ozt silver) from over 200 gold-silver-copper rich polymetallic veins up to 8 m wide and striking for up to 500 m that all remain open at surface. The Big One Project covers 33,693 hectares in a world-class geologic terrane with tremendous additional discovery potential in the heart of the Golden Triangle, British Columbia.

Dr. Quinton Hennigh has taken on the role of special technical advisor to the Company. He is the technical consultant for all Crescat’s gold and silver mining investments. Dr. Hennigh is a world-renowned exploration geologist with over 40 years of experience with major gold mining firms, Homestake Mining, Newcrest Mining, Newmont Mining, and Kirkland Lake/Fosterville. In just the last five years, Dr. Hennigh was instrumental in several material discoveries, including Goliath / Surebet, Newfound / Queensway, SCM / Isidorito, Eloro / Iska Iska, Snowline / Valley, Sitka / RC Gold Project, and Tectonic / Flat.

Dr. Hennigh stated , ‘The Big One gold-silver project has a very similar feel to Goliath’s Surebet gold discovery. To date, reconnaissance prospecting and sampling conducted by Juggernaut’s exploration team have identified a multitude of multi-meter thick quartz-sulfide veins, many of which have yielded +oz per tonne Au and multi-oz per tonne Ag assays. Early indications suggest there is a genetic association of veins with late-stage magmatism in the area, an association seen at Surebet. This season, Juggernaut has a clear mandate to follow up on these results with detailed mapping and channel sampling, much like Goliath did during the early days of the Surebet discovery. The Company’s mission is to get as many targets as possible ready for drill testing either late season or for 2026. I am very eager to see if a new ‘Surebet’ type discovery is in hand.

View Juggernaut videos by Clicking Here .

The charity flow through funding will consist of up to 2,000,000 charity flow through units (‘CFT Units’), priced at $0.825 each for gross proceeds of up to $1,650,000. Each CFT Unit will consist of one charity flow-through common share plus one warrant to purchase one non flow-through common share at $0.75 for a sixty month period with a forced conversion at $1.50, 10 consecutive trading days at or above the strike price, callable at management’s discretion.

Juggernaut is concurrently raising 2,000,000 hard dollar units priced at $0.50 each for gross proceeds of up to $1,000,000. Each hard dollar unit will consist of one common share plus one warrant at $0.75 for a sixty month period with a forced conversion of $1.50, 10 consecutive trading days at or above the strike price, callable at management’s discretion. Upon completion of the charity flow-through and hard dollar financings for a combined total of $2,650,000, which is projected to close on or before May 15th, Crescat will own 28.95% in the company post-financing.

‘Gold exploration is all about swinging for the fence. Persevering with a diversified portfolio of great management and technical teams with bold targets is the key. The cool thing about Juggernaut is that it has the same geologic team as the one behind Goliath Resources, where their Surebet gold discovery has already been a home run, based on personal experience. We are happy to invest in Juggernaut and this team. It’s time for Big One, which may be the best target yet for this company and team. We are eager to support them with capital for another at-bat.’ – Kevin Smith, CFA, Founder & CEO of Crescat Capital .

Directors and officers of the company may acquire securities under the placement, which participation would be a ‘related party transaction’ as defined under Multilateral Instrument 61-101 (‘MI 61-101’). Such participation is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.

Mr. Dan Stuart, Director, President, and CEO of Juggernaut, states:

‘We are pleased to strengthen our relationship, both with Crescat Capital as a strategic investor and Dr. Hennigh as a Special Technical Advisor and investor. I look forward to working with our partners who bring a proven track record of both financial and technical strength. This will enable Juggernaut to unlock the full potential of its assets over the long term, building value for all shareholders. This investment and strategic partnership, coupled with the ongoing support and interest from other globally recognized Institutions and senior miners, is a strong endorsement that clearly demonstrates the significant near-term discovery potential of our 100% controlled properties. Post financing, Juggernaut will have an extremely tight capital structure of just 18,355,169 shares, no debt, and a strong cash position of ~ $3,000,000. As such, we are well-positioned to move forward with our plans of drilling The Big One Discovery. With much anticipation, we look forward to executing the inaugural exploration program and reporting results.’

The Company may pay finder’s fees of the gross proceeds from the financing in cash, and compensation options on units being sold. This non-brokered private placement is subject to TSX Venture Exchange approval. All shares issued pursuant to this offering and any shares issued pursuant to the exercise of warrants will be subject to a four-month hold period from the closing date.

About Crescat Capital LLC

Crescat is a global macro asset management firm headquartered in Denver, Colorado. Crescat’s mission is to grow and protect wealth over the long term by deploying tactical investment themes based on proprietary value-driven equity and macro models. Crescat’s goal is industry-leading absolute and risk-adjusted returns over complete business cycles with low correlation to common benchmarks. Over the last several years, Crescat has been building activist stakes in a portfolio of precious metals explorers to express one of its primary macro themes. The company’s investment process involves a mix of asset classes and strategies to assist with each client’s unique needs and objectives, and includes Global Macro, Long/Short, Large Cap, and Precious Metals funds.

About Juggernaut Exploration Ltd.

Juggernaut Exploration Ltd. is an explorer and generator of precious metals projects in the prolific Golden Triangle of northwestern British Columbia. Its projects are in world-class geological settings and geopolitical safe jurisdictions amenable to Tier 1 mining in Canada. Juggernaut is a member and active supporter of CASERM, an organization representing a collaborative venture between the Colorado School of Mines and Virginia Tech. Juggernaut’s key strategic cornerstone shareholder is Crescat Capital.

For more information, please contact

Juggernaut Exploration Ltd.

Dan Stuart

President, Director, and Chief Executive Officer

604-559-8028

info@juggernautexploration.com

www.juggernautexploration.com

NEITHER THE 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.

FORWARD LOOKING STATEMENT

Certain disclosures in this release may constitute forward-looking statements that are subject to numerous risks and uncertainties relating to Juggernaut’s operations that may cause future results to differ materially from those expressed or implied by those forward-looking statements, including its ability to complete the contemplated private placement. Readers are cautioned not to place undue reliance on these statements. NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR AN INVITATION TO PURCHASE ANY SECURITIES DESCRIBED IN IT.

Copyright (c) 2025 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

This post appeared first on investingnews.com

Keep Reading
Politics

PETA, animal rights groups praise Trump admin for phasing out ‘cruel tests on dogs’ and other animals

Politics 5 Mins Read

The Trump administration is receiving an outpouring of support from animal advocacy groups, lawmakers and others for recent announcements to end animal testing within programs at the FDA and EPA. 

‘PETA applauds the FDA’s decision to stop harming animals and adopt human-relevant testing strategies for evaluating antibody therapies,’ Kathy Guillermo, PETA senior vice president, said in a statement.

‘It’s a significant step towards meeting the agency’s commitment to replace the use of animals – which PETA has worked hard to promote. All animal use, including failed vaccine and other testing on monkeys at the federally-funded primate centers, must end, and we are calling on the FDA to further embrace 21st-century science,’ the PETA statement continued. 

PETA’s statement followed the Food and Drug Administration announcement on Thursday that it is phasing out an animal testing requirement for antibody therapies and other drugs in favor of testing on materials that mimic human organs, Fox Digital first reported. 

‘For too long, drug manufacturers have performed additional animal testing of drugs that have data in broad human use internationally. This initiative marks a paradigm shift in drug evaluation and holds promise to accelerate cures and meaningful treatments for Americans while reducing animal use,’ FDA Commissioner Martin A. Makary, said in comments provided to Fox News Digital. 

‘By leveraging AI-based computational modeling, human organ model-based lab testing, and real-world human data, we can get safer treatments to patients faster and more reliably, while also reducing R&D costs and drug prices. It is a win-win for public health and ethics.’ 

Dogs, rats and fish were the primary animals to face testing ahead of Thursday’s announcement, Fox Digital learned. 

The phase-out focuses on ending animal testing in regard to researching monoclonal antibody therapies, which are lab-made proteins meant to stimulate the immune system to fight diseases such as cancer, as well as other drugs, according to the press release. 

Instead, the FDA will encourage testing on ‘organoids,’ which are artificially grown masses of cells, according to the FDA’s press release.

Environmental Protection Agency chief Lee Zeldin announced on the same day that the agency would reinstate a 2019 policy from the first Trump administration to phase out animal testing at that federal agency. The EPA said in comment that the Biden administration moved away from phasing out animal testing, but that Zeldin is ‘wholly committed to getting the agency back on track to eliminating animal testing.’

‘Under President Trump’s first term, EPA signed a directive to prioritize efforts to reduce animal testing and committed to reducing testing on mammals by 30% by 2025 and to eliminate it completely by 2035. The Biden administration halted progress on these efforts by delaying compliance deadlines. Administrator Zeldin is wholly committed to getting the agency back on track to eliminating animal testing,’ EPA spokesperson Molly Vaseliou told the Washington Times. 

The EPA’s and FDA’s recent announcements also received praise from animal rights groups, including the White Coat Waste Project, which reported in 2021 that the National Institute of Allergy and Infectious Diseases spent hundreds of thousands of dollars under Dr. Anthony Fauci’s leadership to test beagle dogs with parasites via biting flies.

‘Thank you @DrMakaryFDA for your years of advocacy & outstanding leadership to eliminate FDA red tape that forces companies & tax-funded federal agencies to conduct wasteful & cruel tests on dogs & other animals!’ the group posted to X last week. 

‘White Coat Waste made historic progress under Trump 45 to cut wasteful and cruel animal testing at the EPA and FDA, some of which was undone by the Biden Administration,’ Justin Goodman, senior vice president at White Coat, told Fox News Digital on Sunday. 

‘We applaud Administrator Zeldin and Commissioner Makary for picking up where Trump left off and prioritizing efforts to cut widely-opposed and wasteful animal tests. This is great news for taxpayers and pet owners as it sends a message to big spending animal abusers across the federal government: Stop the money. Stop the madness!’

Other animal rights groups and lawmakers praised the Trump administration for its recent moves to end animal testing. 

‘We’re encouraged to see the EPA recommit to phasing out animal testing – a goal we’ve long championed on behalf of the animals trapped in these outdated and painful experiments,’ Kitty Block, president and CEO of Humane World for Animals, said in a press release. ‘But promises alone don’t spare lives. For too long, animals like dogs, rabbits and mice have endured tests that inflict suffering without delivering better science. It’s time to replace these cruel methods with modern, humane alternatives that the public overwhelmingly supports.’

Other groups have come out and warned that there is not yet a high-tech replacement for animals within the realm of biomedical research and drug testing, and that humane animal testing is still crucial to test prospective drugs for humans. 

‘We all want better and faster ways to bring lifesaving treatments to patients,’ National Association for Biomedical Research President Matthew R. Bailey said in a press release provided to Fox Digital. ‘But no AI model or simulation has yet demonstrated the ability to fully replicate all the unknowns about many full biological systems. That’s why humane animal research remains indispensable.’

Under his first administration, Trump took other steps to protect animals, including signing the Preventing Animal Cruelty and Torture Act into law in 2019, which made intentional acts of cruelty a federal crime.

This post appeared first on FOX NEWS

Keep Reading
Politics

Americans witnessing crippling federal regulations can go directly to DOGE to report red tape rule

Politics 4 Mins Read

The Department of Government Efficiency launched a website where Americans can directly report and suggest how to deregulate policies within the federal government, Fox News Digital learned. 

‘Your voice in federal decision making,’ reads the website Regulations.gov, ‘Impacted by an existing rule or regulation? Share your ideas for deregulation by completing this form.’

DOGE worked with the Government Services Administration, an independent agency tasked with helping support the functioning of other federal agencies, and the Office of Management and Budget, which is the federal office frequently charged with overseeing deregulation efforts, to launch the website earlier this month, Fox Digital learned. 

‘DOGE is combining the administration’s goals of adding transparency and slashing waste, fraud, and abuse by offering the American people the unique opportunity to recommend more deregulatory actions. This DOGE-led effort highlights President Trump’s priority to put the people first and government bureaucrats last,’ White House spokeswoman Taylor Rogers told Fox Digital. 

The website’s main page directs users to a form where they can report ‘deregulatory suggestions,’ which provides users with more than a dozen prompts regarding their issue. 

The prompts include describing which federal agency had promoted a regulation at issue, if the regulation is finalized or in the midst of the rule-making process, justification for the deregulation, the history of how the regulation operates, and the title and name of the agency’s leader, as well as other detailed information on the regulation. 

The form prompts users to provide their name, but the box is not mandatory to complete before submission. The person who submits a deregulatory suggestion could see the Trump administration name the rescission to the rule after the individual. 

‘Only answer if you would like the rescission to be named after you or your organization. Providing your name does not guarantee that it will appear on any final agency action, and we reserve the right to refrain from using names that are inappropriate or offensive,’ the prompt asking for the user’s name states. 

DOGE’s public leader, Elon Musk, has railed against government regulations for months, including when he joined President Donald Trump’s campaign in key battleground states to rally support. 

In a Pennsylvania rally ahead of the election, Musk recounted how his company SpaceX was wrapped up in ‘bunch of nutty stories’ related to government overregulation, including studying the probability of the company’s Starship rocket hitting a whale or shark and facing lofty fines from the EPA for ‘dumping fresh water on the ground.’ 

‘I’ll tell you like a crazy thing, like we got fined $140,000 by the EPA for dumping fresh water on the ground. Drinking water. It’s crazy. I’ll just give you an example of just how crazy it is. And we’re like, ‘Well, we’re using water to cool the launch pad during launch. You know, we’re going to cool the launch pad so it doesn’t overheat. And in excess of caution, we actually brought in drinking water, so clean, super clean water,’’ Musk said to the audience in Folsom, Pennsylvania, last year. 

‘And the FAA said, ‘No, you have to pay a $140,000 fine.’ And we’re like, ‘But Starbase is in a tropical thunderstorm area. Sky water falls all the time,’’ Musk recounted, referring to SpaceX’s headquarters in Texas. ”That is the same as the water we used’ So, and it’s like… there’s no harm to anything. And they said, ‘Yeah, but we didn’t have a permit.’ We’re like, ‘You need a permit for fresh water?’’ Musk recounted. 

Trump went on a deregulation blitz targeting energy and climate regulations last week in a series of executive orders aimed to ‘unleash’ the power of coal energy in the U.S., including ending a pause to coal leasing on federal lands, promoting coal and coal technology exports, and encouraging the use of coal to power artificial intelligence initiatives. 

‘President Trump knows that the bureaucracy is built to regulate, not deregulate. The result is an ever-increasing number of regulations that stifle innovation and limit American freedom,’ the White House said in a fact sheet on the EOs last week. 

This post appeared first on FOX NEWS

Keep Reading
Politics

Navarro brushes off feud with Elon Musk: ‘Boys will be boys’

Politics 2 Mins Read

White House trade advisor Peter Navarro brushed off concerns about a feud between him and billionaire Elon Musk, arguing the two administration advisors had a ‘great’ relationship.

‘First of all, Elon and I are great. It’s not an issue,’ Navarro said during an appearance on NBC News’ ‘Meet the Press’ on Sunday.

The comments come after Navarro and Musk got tangled in a public war of words last week after Navarro said in an interview that Musk’s Tesla is more of a ‘car assembler’ than ‘car manufacturer’ that relies on parts from other countries.

‘We all understand in the White House (and the American people understand) that Elon’s a car manufacturer. But he’s not a car manufacturer – He’s a car assembler,’ Navarro said on CNBC. ‘In many cases, if you go to his Texas plant, a good part of the engines that he gets (which in the EV case are the batteries) come from Japan and come from China. The electronics come from Taiwan.’

The point seemingly didn’t sit well with Musk, who took to X to defend his auto company.

‘Navarro is truly a moron. What he says here is demonstrably false,’ Musk said.

‘Tesla has the most American-made cars. Navarro is dumber than a sack of bricks,’ Musk added in a subsequent post.

But Navarro downplayed the public war of words Sunday, praising Musk’s contributions to the Trump administration.

‘Everything’s fine with Elon,’ Navarro said. ‘And look, Elon is doing a very good job with his team, with waste, fraud and abuse. That’s a tremendous contribution to America. And no man doing that kind of thing should be subject to having his cars firebombed by crazies.’

The White House has also downplayed concerns between them, with press secretary Karoline Leavitt arguing the feud shows that President Donald Trump is willing to hear vastly different views at the highest level.

‘These are obviously two individuals who have very different views on trade and tariffs. Boys will be boys, and we will let their public sparring continue,’ she said during a press briefing last week. ‘You guys should all be very grateful that we have the most transparent administration in history.’

This post appeared first on FOX NEWS

Keep Reading
Politics

Trump admin secures release of American missionary held in Tunisia for 13 months: report

Politics 1 Min Read

An American missionary who was detained in Tunisia for over a year was released on Sunday.

Officials gained the release of U.S. citizen Robert Vieira on Sunday afternoon, according to a Reuters report citing U.S. special envoy Adam Boehler.

Boehler told the outlet that Vieira was doing missionary work when he was detained by Tunisian authorities 13 months ago.

Officials reportedly suspected Vieira of espionage.

Tunisia, a North African country bordered by Algeria and Libya, was amenable to Vieira’s release after Boehler worked closely with its foreign minister, Mohamed Ali Nafti.

After being released on Sunday, Vieira flew back home to the U.S. alongside his family.

‘We appreciate the government of Tunisia’s decision to resolve this case and allow Mr. Vieira to reunite with his family after more than 13 months of pre-trial detention,’ Boehler said.

Boehler credited his collaboration with Nafti for securing the detainee’s release.

Fox News Digital reached out to the State Department for additional comment but did not immediately hear back.

Reuters contributed to this report.

This post appeared first on FOX NEWS

Keep Reading