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NorthStar Gaming Announces Receipt of Management Cease Trade Order

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NorthStar Gaming Holdings Inc. (TSXV: BET) (OTCQB: NSBBF) (‘NorthStar’ or the ‘Company’) today announces that its principal regulator, the Ontario Securities Commission, has granted its request for a management cease trade order (‘MCTO’) effective May 8, 2025.

As previously announced on April 29, 2025, the Company applied for the MCTO due to a delay in filing its annual audited financial statements, management’s discussion and analysis and related certifications for the financial year ended December 31, 2024 (the ‘Annual Filings’) which were required to be filed by April 30, 2025.

The delay is primarily due to a restatement of certain amounts owed by the Company’s payment service providers as well as player loyalty bonuses for the prior fiscal years. During the year-end reconciliation process, the Company identified that its payment processor had deducted additional merchant fees from daily remittances, which had not been properly accounted for. Specifically, service provider fees (cost of revenue) were previously understated, while the amounts due from the payment processor and accounts receivable were overstated in the financial statements for the year ended December 31, 2023.

The Company is working diligently and expeditiously to complete the Annual Filings as soon as practicable, and currently anticipates it will be in a position to file the Annual Filings on or before May 15, 2025.

The MCTO restricts the Company’s Chief Executive Officer and the Chief Financial Officer from trading in the Company’s securities but does not affect the ability of other shareholders, including the public, to trade in securities of the Company.

About NorthStar

NorthStar proudly owns and operates NorthStar Bets, a Canadian-born casino and sportsbook platform that delivers a premium, distinctly local gaming experience. Designed with high-stakes players in mind, NorthStar Bets Casino offers a curated selection of the most popular games, ensuring an elevated user experience. Our sportsbook stands out with its exclusive Sports Insights feature, seamlessly integrating betting guidance, stats, and scores, all tailored to meet the expectations of a premium audience.

As a Canadian company, NorthStar is uniquely positioned to cater to customers who seek a high-quality product and an exceptional level of personalized service, setting a new standard in the industry. NorthStar is committed to operating at the highest level of responsible gaming standards.

NorthStar is listed in Canada on the TSX Venture Exchange (‘TSXV’) under the symbol ‘BET’ and in the United States on the OTCQB under the symbol ‘NSBBF’. For more information on the company, please visit: www.northstargaming.ca.

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

Cautionary Note Regarding Forward-Looking Information and Statements

This communication contains ‘forward-looking information’ within the meaning of applicable securities laws in Canada (‘forward-looking statements’), including without limitation, statements with respect to the following: expected performance of the Company’s business, and the timing of the release of the Company’s financial results. The foregoing is provided for the purpose of presenting information about management’s current expectations and plans relating to the future and allowing investors and others to get a better understanding of the Company’s anticipated financial position, results of operations, and operating environment. Often, but not always, forward-looking statements can be identified by the use of words such as ‘plans’, ‘expects’, ‘is expected’, ‘budget’, ‘scheduled’, ‘estimates’, ‘continues’, ‘forecasts’, ‘projects’, ‘predicts’, ‘intends’, ‘anticipates’ or ‘believes’, or variations of, or the negatives of, such words and phrases, or state that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘should’, ‘might’ or ‘will’ be taken, occur or be achieved. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. This forward-looking information is based on management’s opinions, estimates and assumptions that, while considered by NorthStar to be appropriate and reasonable as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by such forward- looking information. Such factors include, among others, the following: risks related to the Company’s business and financial position; risks associated with general economic conditions; adverse industry risks; future legislative and regulatory developments; the ability of the Company to implement its business strategies; and those factors discussed in greater detail under the ‘Risk Factors’ section of the Company’s most recent annual information form, which is available under NorthStar’s profile on SEDAR+ at www.sedarplus.ca. Many of these risks are beyond the Company’s control.

If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking statements. Although the Company has attempted to identify important risk factors that could cause actual results to differ materially from those contained in the forward-looking statements, there may be other risk factors not presently known to the Company or that the Company presently believes are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking statements. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. No forward-looking statement is a guarantee of future results. Accordingly, you should not place undue reliance on forward-looking information, which speaks only as of the date made. The forward-looking information contained in this press release represents NorthStar’s expectations as of the date specified herein, and are subject to change after such date. However, the Company disclaims any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws.

All of the forward-looking information contained in this press release is expressly qualified by the foregoing cautionary statements.

For further information:

Company Contact:
Corey Goodman
Chief Development Officer 647-530-2387
investorrelations@northstargaming.ca

Investor Relations:
RB Milestone Group LLC (RBMG)
Northstar@rbmilestone.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/251431

News Provided by Newsfile via QuoteMedia

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US Policy Momentum, Clinical Progress Fueling Psychedelics Market in 2025

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When the US Food and Drug Administration (FDA) rejected Lykos Therapeutics’ new drug application for MDMA-assisted therapy last August, the initial disappointment cast a shadow over the psychedelics industry.

However, the sector is seeing a resurgence of optimism in 2025 on the back of various US developments.

“The psychedelic industry in 2025 will likely see significant advancements in clinical applications, particularly in treating PTSD, depression, and addiction, as research continues to validate their therapeutic potential,” Dr. Markus Ploesser, chief innovation officer at Open Mind Health, told Microdose in January.

This sentiment is underscored by a variety of recent positive developments, including the FDA’s approval of Johnson & Johnson’s (NYSE:JNJ) ketamine-derived nasal spray to combat treatment-resistant depression, and an initiative to study MDMA-assisted therapy efficacy for post-traumatic stress disorder (PTSD) and alcohol use disorder in veterans.

In addition, alternative medicine advocate Robert F. Kennedy Jr.’s appointment as head of the US Department of Health and Human Services has created potential for further policy shifts related to mental health and psychedelics research.

Combined, these factors could make 2025 a pivotal year for the industry.

Legal state psychedelics markets take shape

Psychedelic compounds remain federally illegal in the US, but some states have pursued legalization and decriminalization. In November 2020, Oregon became the first state to legalize psilocybin for therapeutic use through the Oregon Psilocybin Services Act. From 2021 to 2022, the Oregon Health Authority and the Psilocybin Advisory Board created rules for the act and began taking applications on January 2, 2023.

Oregon also decriminalized personal possession of all drugs in 2020 through the Drug Addiction Treatment and Recovery Act, which went into effect in February 2021. Many of the provisions in that bill have since been reversed, with the possession of small amounts of hard drugs like fentanyl, methamphetamine and heroin being recriminalized as of September 1, 2024. However, psilocybin remains legal for therapeutic and facilitated use.

As of the end of March, Oregon Psilocybin Services counted 374 state-wide psilocybin facilitators, 29 service centers, 10 manufacturers and 808 worker permits. Satya Therapeutics, located in Ashland, is recognized as one of the state’s most experienced and successful service providers, with roughly 40 to 50 clients serviced monthly.

Publicly traded Florida-based cannabis company Kaya Holdings (OTCQB:KAYS) was awarded a license to operate a psilocybin service center in Oregon through its Fifth Dimension Therapeutics subsidiary in May 2024. Its treatment center, called the Sacred Mushroom, opened its doors in Portland on July 2, 2024.

In 2025, industry advocates are focused on analyzing outcomes from Oregon’s psychedelics program in order to fine tune areas requiring improvement. In February, state lawmakers sought to expand psychedelic therapy through the introduction of HB 3817, which establishes an access pathway for individuals with PTSD to access ibogaine. At the time of this writing, the bill had not yet been scheduled for a public hearing or committee vote.

Despite its growth, affordability has been a barrier to the development of Oregon’s psilocybin therapy program, with sessions typically costing over US$1,500. Some communities in the state also voted to ban psilocybin and psilocybin businesses in 2024, reflecting ongoing public concerns about drug liberalization.

In Colorado, a series of legislative actions regarding psychedelic substances led to state legalization in November 2022. Proposition 122 legalized the regulated access to psilocybin and psilocin in healing centers for adults over 21, decriminalized the personal use and cultivation of these substances and established a Natural Medicine Advisory Board.

SB 23-290, signed in May 2023, amended Proposition 122’s regulations and created a legal framework for healing centers. HB 22-1344, passed in June 2022, paved the way for MDMA-assisted therapy for PTSD if federally approved.

The final rules for licensed psilocybin therapy centers were filed with the secretary of state and became effective on December 15, 2024. Colorado then began accepting applications for licenses. In March, the Department of Revenue issued its first healing center license to the Center Origin in Denver. As of May 2 of this year, there were over 50 pending applications for healing centers, cultivation facilities and manufacturers.

As the psychedelics industry begins to take shape in Colorado, Tasia Poinsatte, the state’s director of the nonprofit Healing Advocacy Fund, told Stateline that centers plan to offer sliding-scale rates and discounts for veterans, Medicaid enrollees and low-income individuals to help address the affordability problem.

New psychedelics laws and research initiatives

Apart from Oregon and Colorado, a wave of legislative activity concerning psychedelics is evident across the US, with states like Illinois, Indiana, Missouri, Maine and New York pursuing various forms of legalization, including decriminalization, research funding and regulated therapeutic programs. Additionally, several cities in Washington and Michigan have decriminalized certain substances, with Washington also considering bills to create a regulated psilocybin services market and to provide funding to study ibogaine for opioid use disorder.

Utah passed legislation in March 2024 to create a program for psilocybin and MDMA as alternative treatments at the University of Utah Health and Intermountain Health. The program began in May 2024 and will run for three years.

Multiple institutions in Maryland, Texas and North Carolina are also conducting studies to assess the efficacy of psychedelics in treating various mental health conditions.

Senate Bill 242 established a working group tasked with studying the therapeutic use of entheogens in Nevada in 2023. A recommendations report was delivered in December 2024, and has garnered support from key legislative figures.

Several cities in California have deprioritized the enforcement of laws against the personal use and possession of certain psychedelics, and the state is considering a psilocybin pilot program for veterans and first responders.

Massachusetts has multiple bills focused on decriminalization and therapeutic pilot programs. In April of this year, New Mexico’s governor signed a bill for a therapeutic psilocybin program.

Meanwhile, Rhode Island has a bill that would legalize psilocybin possession if the federal government reschedules it, and Alaska established a task force in May 2024 to prepare for potential federal legalization of psychedelic therapies.

These actions reflect a shift in psychedelics sentiment and a growing trend of exploring their therapeutic potential.

Psychedelics investing options

To track the financial health of the psychedelic industry, investors can use the Psychedelic Invest Index, which monitors publicly traded companies in the space. Some of the top stocks in the index include Pasithea Therapeutics (NASDAQ:KTTA), MindMed (NASDAQ:MNMD), Compass Pathways (NASDAQ:CMPS) and Cybin (NYSEAMERICAN:CYBN), all of which are involved in developing psychedelic compounds for mental health treatments.

MindMed has developed a synthetic LSD analog, MM120, currently in Phase III trials for generalized anxiety disorder (GAD) and major depressive disorder (MDD). An oral tablet of MM120 was awarded a patent in July 2024.

Cybin has developed a proprietary deuterated psilocybin analog called CYB003, as well as CYB004, a proprietary deuterated DMT compound; both are protected by patents. The company also acquired SPL028, another deuterated DMT compound, through its merger with Small Pharma in 2023. Phase 2 CYB004 topline safety and efficacy data in GAD is expected in H1 2025. A pivotal study of CYB003 is scheduled for mid-2025.

Meanwhile, Compass Pathways’ Phase 2b randomized controlled study evaluating its synthetic psilocybin therapy, COMP360, was the most extensive psilocybin clinical trial to date. With data presented in 2022, the trial found that one 25 milligram dose of COMP360 resulted in a decline in depressive symptoms after three weeks when combined with psychological guidance, with positive effects reportedly lasting for as long as 12 weeks.

Other key players in the psychedelics market include atai Life Sciences (NASDAQ:ATAI), GH Research (NASDAQ:GHRS), Bright Minds Biosciences (NASDAQ:DRUG) and Silo Pharma (NASDAQ:SILO).

Canadian companies in this sector include Numinus Wellness (TSX:NUMI,OTCQB:MTPLF), Optimi Health (CSE:OPTI,OTCQX:OPTHF), BetterLife Pharma (CSE:BETR,OTCQB:BETRF), Pharmala Biotech (CSE:MDMA,OTCQB:MDXXF) and Restart Life Science (CSE:REST,OTC Pink:NMLSF).

Other avenues for investors include strategic investments in specialized real estate ventures.

Healing Realty Trust (HRT) specializes in acquiring healthcare infrastructure assets, focusing on developing mental and behavioral healthcare facilities. The company established preferred real estate partnership agreements with providers like NeuroSpa, Cambridge Biotherapies and Cathexis in 2024. It has also secured the first tranche of a US$25 million Series A funding round, with the funds earmarked to acquire healthcare facilities in Texas, Ohio and Connecticut.

HRT is reportedly preparing for an initial public offering, with a potential listing in late 2025 or early 2026.

Investor takeaway

Against this backdrop, the psychedelics market could see promising growth in 2025.

While challenges remain, the expansion of legalization and decriminalization, combined with ongoing research, positions the industry for growth and presents potential opportunities for investors.

Securities Disclosure: I, Meagen Seatter, hold direct investment interest in some of the companies mentioned in this article.

This post appeared first on investingnews.com

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UnitedHealthcare sued by shareholders over reaction to CEO’s killing

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A group of investors sued UnitedHealthcare Group on Wednesday, accusing the company of misleading them after the killing of its CEO, Brian Thompson.

The class action lawsuit — filed in the Southern District of New York — accuses the health insurance company of not initially adjusting their 2025 net earning outlook to factor in how Thompson’s killing would affect their operations.

On Dec. 3 — a day before Thompson was fatally shot — the company issued guidance that included net earnings of $28.15 to $28.65 per share and adjusted net earnings of $29.50 to $30.00 per share, the suit notes. And on January 16, the company announced that it was sticking with its old forecast.

The investors described this as “materially false and misleading,” pointing to the immense public scrutiny the company and the broader health insurance industry experienced in the wake of Thompson’s killing.

The group, which is seeking unspecified damages, argued that the public backlash prevented the company from pursuing ‘the aggressive, anti-consumer tactics that it would need to achieve’ its earnings goals.

‘As such, the Company was deliberately reckless in doubling down on its previously issued guidance,’ the suit reads.

The company eventually revised its 2025 outlook on April 17, citing a needed shift in corporate strategy — a move that caused its stock to drop more than 22% that day.

‘The company denies any allegations of wrongdoing and intends to defend the matter vigorously,’ a UnitedHealthcare spokesperson said in a statement.

Thompson’s fatal shooting on the streets of New York City in broad daylight sent shockwaves across the nation.

Luigi Mangione, the 27-year-old man accused of the killing, has pleaded not guilty to federal and state charges against him. The legal defense fund for Mangione surpassed the $1 million mark in donations on Tuesday.

This post appeared first on NBC NEWS

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Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook

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Krispy Kreme stock plunged 24% on Thursday morning after the doughnut chain said it is “reassessing” its rollout with McDonald’s and pulled its full-year outlook in part due to economic “softness.”

Krispy Kreme is not planning to launch its doughnuts in any additional McDonald’s locations in the second quarter, suspending a nationwide rollout. As of March 30, more than 2,400 of the burger chain’s roughly 13,500 domestic locations carried Krispy Kreme doughnuts.

“I remain confident in the long-term national opportunity, but we need to work together with them to identify levers to improve sales,” Krispy Kreme CEO Josh Charlesworth said.

Over the last year, Krispy Kreme shares have shed more than 70% of their value, dragging the company’s market value down to less than $600 million.

Truist downgraded the stock on Thursday from buy to hold.

“We are shocked by the speed at which the story fell apart,” Truist analyst Bill Chappell wrote. ”… We no longer have high conviction in management’s previously stated strategy and execution of these initiatives, and it will likely take several quarters before we or investors can regain confidence.”

The two restaurant companies announced more than a year ago that Krispy Kreme doughnuts would be sold in all McDonald’s U.S. locations by the end of 2026. The rollout began roughly six months ago.

While the beginning phases were promising, sales fell below projections, Krispy Kreme executives said on Thursday.

As consumers worry about the broader economy and a potential recession, they have been pulling back their spending at restaurants. McDonald’s reported a 3.6% decline in its U.S. same-store sales for the first quarter. McDonald’s CEO Chris Kempczinski said that the fast-food industry’s traffic fell as middle- and low-income diners visited restaurants less frequently.

For Krispy Kreme, profitability appears to be the key reason for slowing the rollout with McDonald’s.

“However, we are seeing that after the initial marketing launch demand dropped below our expectations requiring intervention to deliver sustainable, profitable growth,” Charlesworth told analysts on the company’s conference call.

“We are partnering with McDonald’s to increase sales by stimulating higher demand and cutting costs by simplifying operations,” he added. “At the same time, we are reassessing our deployment schedule together with McDonald’s as we work to achieve a profitable business model for all parties.”

Krispy Kreme reported a net loss of $33 million for the quarter ended March 30.

To supply all of McDonald’s U.S. restaurants, Krispy Kreme was investing in expanding capacity quickly, which weighed on profits. In the last year, the company has reported three quarters of net losses.

The company uses a “hub and spoke” model that lets it make and distribute its treats efficiently. Production hubs, which are either stores or doughnut factories, send off freshly made doughnuts every day to retail locations such as grocery stores and gas stations. Krispy Kreme is looking to prune its unprofitable locations, which could affect up to 10% of its U.S. network.

Krispy Kreme also pulled its 2025 outlook, citing “macroeconomic softness” and uncertainty around the schedule for the McDonald’s partnership.

This post appeared first on NBC NEWS

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China’s Xi hails ‘stable and resilient’ Russia ties as he shows solidarity with Putin in Moscow

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Chinese leader Xi Jinping hailed Russia and China’s “stable and resilient” ties as he began talks with counterpart Vladimir Putin on Thursday in Moscow, a show of solidarity in the face of global uncertainties unleashed by US President Donald Trump’s “America First” diplomacy.

Sitting across a table from Putin, Xi said the countries’ “political mutual trust has grown deeper” and “practical cooperation has strengthened.”

“In this new era, China-Russia relations are more composed and confident, stable and resilient,” he added.

Xi arrived Wednesday for a four-day state visit to Russia, where he’ll top a list of foreign leaders attending Putin’s heavily choreographed Victory Day military parade, which is taking place in the shadow of Russia’s ongoing war on Ukraine. This year’s events mark 80 years since the Allied victory over Nazi Germany, which ended World War II.

Putin welcomed his Chinese counterpart to the Kremlin, where they shook hands in a cavernous hall before posing for photos flanked by oversized Chinese and Russian flags. During opening remarks, each referred to the other as a “friend.”

Talks held over breakfast, as well as an informal, one-on-one tea on Thursday morning, are expected to cover their strategic partnership, the war in Ukraine and Russia’s relations with the United States, according to the Kremlin.

The two leaders have met more than 40 times over the past decade and steadily strengthened their partnership in recent years in the face of shared tensions with the West. Their diplomacy this week comes at a pivotal moment in each country’s relations with the United States.

China is now locked in an escalated trade war with Washington, sparked by Trump’s heavy tariffs on the world’s second-largest economy. Moscow, meanwhile, has found a more sympathetic America under Trump than it did during Joe Biden’s presidency, but is now warily eying recently warming ties between Washington and Kyiv.

Both Beijing and Moscow have appeared keen to use the gathering to showcase themselves as stable partners and reliable powers, part of a broader bid to reshape an international order they see unfairly dominated by the West.

“Currently, in the face of an international countercurrent of unilateralism and the hegemonic practices of the powerful, China together with Russia will take on our special responsibilities as major world powers and permanent members of the UN Security Council,” Xi said during his opening remarks, using language Beijing typically employs in veiled references to the US.

Putin noted that the two countries were developing their “ties for the benefit of the peoples of both countries and not against anyone” and said the two governments were working to implement “an entire array of practical agreements, including a detailed plan for economic cooperation until 2030.”

Ukraine war hangs over Putin’s military parade

The meeting takes place hours after a three-day ceasefire in Ukraine — unilaterally declared by Putin last month — came into effect, coinciding with the parade. Russian state news agency Tass said the ceasefire began at midnight local time on Wednesday (5 p.m. ET Wednesday).

Earlier this month, Ukrainian President Volodymyr Zelensky warned dignitaries traveling to the event that Kyiv “cannot be responsible for what happens on the territory of the Russian Federation,” amid the ongoing conflict, a statement the Kremlin said amounted to a threat.

Ukraine has launched multiple drone attacks on Moscow over the course of the war, including in recent days, prompting temporary closures of airports in the capital for several hours. Ukraine says its attacks are in response to Russia’s continued assault on Ukrainian territory, including residential areas and energy infrastructure.

More than two dozen leaders are expected to gather in the Russian capital for the Victory Day celebrations, while troops from 13 countries will march in the parade, according to the Kremlin. Leaders expected to attend include Brazil’s Luiz Inacio Lula da Silva, Egypt’s Abdel Fattah el-Sisi and Belarussian leader Aleksandr Lukashenko.

The gathering, a key chance for Putin to project himself as a global power player, takes place amid an increasingly contentious global backdrop, including tensions between India and Pakistan which threaten to spiral into a full-blown conflict.

Russia’s May 9 Victory Day is one of the country’s largest celebrations. It marks Nazi Germany’s 1945 surrender to the Soviet Union, a day which has become increasingly important under Putin, who has falsely claimed his war in Ukraine is a “denazification.” In recent years the parade has seen a diminished supply of military hardware, as Russian tanks are instead mobilized on that war’s front lines.

Europe celebrates its VE Day, marking Germany’s surrender on all fronts, on Thursday.

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India and Pakistan are both claiming victory after this week’s clashes. Will cooler heads prevail?

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This week’s clashes between Pakistan and India are the most serious escalation in tensions between these two historic foes in decades with millions on both sides of their border now wondering what might come next.

Despite a vow to “avenge” India’s strikes on its territory, Pakistan has yet to retaliate in kind on India, and both sides appear to have already claimed victory. But hostilities continue.

Palpable panic rocked both nations Wednesday after New Delhi launched targeted military strikes on its neighbor, while Islamabad claimed it had shot down its rival’s fighter jets.

The fear is that each additional confrontational step by either side could quickly spiral into an all out conflict.

Indian media was euphoric after Wednesday’s strikes. “Strokes of justice,” ran an editorial from one of India’s leading English newspapers commending the country’s “sharp” and “resolute” response to the massacre of 26 people in Indian-administered Kashmir, at the hands of militants. A headline from The Indian Express echoed a similar tune: “Justice Served” it said across the front page.

In Pakistan, the public response from Prime Minister Shehbaz Sharif was similarly bellicose.

He has vowed to “avenge” the deaths of 31 people Pakistan says were killed in India’s strikes but still appeared to declare triumph for its apparent shooting of India’s airplanes.

“It only took a few hours for the enemy to fall on its knees,” he said in a late-night address to the nation.

India says it struck “terrorist infrastructure” belonging to two Islamist groups – Lashkar-e-Tayyiba and Jaish-e-Mohammed – who have been accused of being behind some the deadliest militant attacks on the country. Wednesday’s strikes did not target military infrastructure and didn’t kill civilians, New Delhi said, potentially giving India and Pakistan an opportunity to find a way to avoid an all-out war.

One location India struck was deep in Pakistan’s Punjab province, the deepest attack in Pakistan’s undisputed territory since both countries fought a major war in 1971. It also targeted multiple other locations in Punjab – the heartland of the powerful military and home of the Sharif government – and hit a mosque, according to Pakistani officials, angering millions in the Muslim-majority nation.

What happens now, analysts say, mostly depends on Islamabad’s next move.

“All eyes are on Pakistan,” said Washington-based South Asia analyst, Michael Kugelman. “If it decides to save face and claim victory — perhaps by pointing to the downing of Indian jets (which New Delhi has not confirmed) — and call it a day, an off ramp could be in sight.”

But he warned “all bets would be off” should Pakistan decide to strike back.

‘Something to lose’

Most analysts agree the nuclear-armed neighbors cannot afford another battle.

India and Pakistan have already fought three wars over Kashmir, a contested region they both claim in its entirety and each control a part of. Another conflict could have catastrophic consequences.

Since its birth seven decades ago in the partition of what was British India, Pakistan – now home to 230 million people – has faced mounting challenges, from political instability to an alarming militant insurgency, climate catastrophes and economic disarray.

India is seemingly in a stronger position; its military is seen as superior in any conventional conflict based on number alone and it boasts an economy more than 10 times the size of Pakistan’s. But it too would have something to lose should the conflict escalate, according to Tanvi Madan, a senior fellow in the Foreign Policy program at the Brookings Institution.

“Largely on the basis of what we’ve seen in previous times, these are two rational actors who don’t want a broader war,” Madan said.

India’s Prime Minister Narendra Modi has vowed to elevate India’s status on the global stage, bidding to host the Olympics and seeking to overtake China as the world’s manufacturing hub.

Not to mention, India already faces security threats on multiple fronts — particularly along contested borders with China.

De-escalation or more to come?

India was quick to project that its response to the April 22 massacre was “focused, measured and non-escalatory” and make clear that they were in response to the tourist’s massacre.

Top officials in New Delhi reached out to key counterparts in the United States, Middle East and Russia, among others, “presumably to encourage international pressure for Pakistan to avoid escalation,” said Nisha Biswal, Senior Advisor at The Asia Group.

Pakistan’s leaders touted a victory by the country’s air force, saying five Indian fighter jets were shot down during an hour-long battle fought at ranges over 160 kilometers (100 miles).

India’s leaders have said little in response to those claims and have not acknowledged any aircraft losses. The Pakistanis have yet to show any evidence proving they downed fighter jets, but a French Defense Ministry source said at least one of India’s newest and most-advanced warplanes – a French-made Rafale fighter jet – was lost in the battle.

If there have indeed been losses for India, Pakistan could claim victory “even if the circumstances are murky,” said Milan Vaishnav, a senior fellow and director of the South Asia Program at the Carnegie Endowment for International Peace.

“This would allow Pakistan to claim it has imposed costs on Indian military targets.”

Yet, amid the fog of war, Pakistan’s powerful army general Asim Munir had already vowed to match any aggression from India.

And Munir, who is known for his hardline stance on Hindu-nationalist Modi, has a reputation of being more assertive than his predecessor Qamar Javed Bajwa.

Meanwhile there have been many voices within Modi’s Hindu nationalist party pushing for a decisive blow against Pakistan for years.

Kugelman, the South Asia analyst, said the US, which has historically interceded in these crises, could try to defuse the tension, but it’s unclear how much bandwidth the Trump administration is willing to allocate.

“China has called for de-escalation, but its fraught ties with India rule it out as a viable intermediary. The top mediator candidates are the Arab Gulf states, especially Qatar, Saudi Arabia, and the United Arab Emirates,” he said, given their strong ties with both nations.

Qatar was quick to urge diplomacy in the hours after Wednesday’s strikes.

While most analysts think there is an off-ramp for both nations, they all agree the situation remains fluid and tense.

“This crisis is as unpredictable as it is dangerous—an unsettling combination,” Kugelman added.

This post appeared first on cnn.com

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In Stock

Use This Multi-Timeframe MACD Signal for Precision Trades

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In this video, Joe shares how to trade MACD signals using multiple timeframes, and how to spot stock market pullback setups that can help to pinpoint a great entry off a low. He then reviews sector performance to identify market leadership, covers key chart patterns, and discusses a looming bearish signal on QQQ and IWM. The video wraps with technical analysis on popular viewer-submitted stock symbols, including REAL, PSTG, and more.

The video premiered on May 7, 2025. Click this link to watch on Joe’s dedicated page.

Archived videos from Joe are available at this link. Send symbol requests to stocktalk@stockcharts.com; you can also submit a request in the comments section below the video on YouTube. Symbol Requests can be sent in throughout the week prior to the next show.


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The Unpredictable Stock Market: How to Make Sense of It

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The stock market’s action on Wednesday was a bit like trying to pick a dinner spot with friends—lots of back and forth, but no real direction.

The market started out higher and went up and down without much of a directional bias until the Fed made its expected interest rate decision and Fed Chairman Jerome Powell’s press conference. Stock prices dipped lower, but right before the close, another headline moving event surfaced: President Trump announced the rollback of some chip-related restrictions. This news gave the market a boost into the close.

Here’s how the broader indexes closed:

  • The Dow Industrials ($INDU) finished up 0.70%.
  • The S&P 500 ($SPX) rose 0.43%.
  • The Nasdaq Composite ($COMPQ) added 0.27%.

Tech Leads, but Alphabet Takes a Hit

In terms of sector performance, Technology came out on top, followed by Consumer Discretionary and Health Care. On the flip side, Real Estate, Communication Services, and Materials were the laggards.

The main reason behind the stumble in Communication Services was Alphabet, Inc. (GOOGL), which dropped by a whopping 7.26%. Why the selloff? An Alphabet exec testified that Google was losing search traffic to AI tools.

The StockCharts’ S&P 500 MarketCarpet (below) reflects Wednesday’s price action.

FIGURE 1. STOCKCHARTS MARKETCARPETS FOR MAY 7, 2025. It was mostly green with some pockets of red.Image source: StockCharts.com. For educational purposes.

Overall, Wednesday’s performance is leaning more positive than negative, but is it enough to break through critical resistance levels?

Resistance Levels in the S&P 500

To get a clearer picture, we need to check out the daily chart of the S&P 500 ($SPX).

FIGURE 2. S&P 500 FACING A LOT OF HEADWINDS. THE 61.8% Fibonacci retracement level is a resistance level the index is struggling to break above.Chart source: StockCharts.com. For educational purposes.

The S&P 500 is sandwiched between its 50- and 200-day simple moving averages (SMAs). The Fibonacci retracement levels drawn from the February high to April low show that the 61.8% retracement level is proving to be a stubborn ceiling. Add to that the downward-sloping 50-day SMA, and the market may have a tough time moving higher. To leave the downtrend in the rearview mirror, the S&P 500 would have to break above its 200-day SMA with the necessary follow-through to keep it above that level. So far, the price action suggests that the S&P 500 will face headwinds to get to that stage.

News Moves Markets, Like the Chip Surprise Today

Remember, the market’s price action is like riding a rollercoaster powered by headlines. This can sometimes send technical analysis into a disarray.

Take, for example, today’s news about lifting the chip restrictions, which sent semiconductor stocks higher. The VanEck Vectors Semiconductor ETF (SMH) jumped 2.05% (see chart below).

FIGURE 3. DAILY CHART OF SMH. Will the semiconductor ETF be able to break out above its May 2 high?Chart source: StockCharts.com. For educational purposes.

Like the chart of the S&P 500, SMH needs to work harder at breaking its downtrend. The one ray of hope is that Wednesday’s move reached the May 2 high. The downside: it wasn’t able to break above it. This shows investors are cautious about semiconductors and the overall equity market.

Volatility Says It All

The caution among investors can be seen clearly in the chart of the S&P 500 vs the Cboe Volatility Index ($VIX).

FIGURE 4. VIX VS. S&P 500. Even though the VIX pulled back from its April peak, it’s still above average.Chart source: StockCharts.com. For educational purposes.

What’s interesting is that while the VIX fell when the S&P 500 rose from mid-April, the VIX hasn’t dropped to its average level of 19. It’s still trading above it, which is another point that increases the probability of further downside in equities.

The Bottom Line

There is a lot going on: geopolitical tensions, trade deal updates, policy shifts. Any of these can jolt the market in either direction.

It was encouraging to see tech stocks and semiconductors bounce on Wednesday, but that doesn’t mean we’re headed back to the days of growth stock leadership. If you’re an investor, especially one managing retirement money or nearing retirement, the best approach is to be patient. We’re not out of the woods yet.

As always, stay alert and stick with your investment plan.

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.


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SAGA Metals Extends Claims at the Radar Ti-V-Fe Project –Securing the Entire Titanomagnetite-Bearing Intrusion

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Saga Metals Corp. (‘SAGA’ or the ‘Company’) (TSXV: SAGA) (OTCQB: SAGMF) (FSE: 20H) a North American exploration company specializing in the discovery of critical minerals, is pleased to announce the addition of 97 new claims covering 2,425 hectares, increasing the total area of the Radar Ti-V-Fe Project to 24,175 hectares.

The Company’s 100%-owned Radar Property is strategically located just 10 kilometres from the coastal city of Cartwright, Labrador. The location offers excellent infrastructure advantages, including:

  • Road access
  • Deep-water port on the Atlantic Ocean
  • Cartwright Airport
  • Proximity to hydroelectric power

With the recent expansion, the Radar Property now fully encompasses the Dykes River intrusive complex, a recently identified Mesoproterozoic layered mafic intrusion (Gower, 2017). The complex has garnered significant interest due to its geological resemblance to large AMCG-type intrusions and the presence of an extensive titanium-vanadium-iron (Ti-V-Fe) enriched layer containing vanadiferous titanomagnetite (‘VTM’).

Regional airborne magnetic surveys highlighted the mafic oxide layer, revealing an arcuate exploration target extending over 20 kilometers in length.

Michael Garagan, CGO & Director of SAGA commented: ‘To lay claim to the entire Dykes River Intrusion is an important milestone for SAGA and its shareholders. Throughout history, many of these mineralized geological settings have been shared amongst multiple companies vying to advance their projects. It’s a unique and significant opportunity to hold the entire 160 square km intrusion mapped at the surface and benefits from tremendous infrastructure. The claim acquisition consolidates the entire intrusion and allows the company to delegate zones for both additional infrastructure and further exploration. We’ve only just begun uncovering the true potential and extent of the oxide layering hosted within the intrusion.’

Figure 1: Map of the Radar project highlighting the oxide layering, road access, and proximity to the town of Cartwright, Labrador. SAGA’s 2024 field programs now confirm compilation of historical airborne geophysics.

Saga Metals Confirms Geological Success with Drilling:

The Company recently reported assays from the first two of seven holes drilled on the Hawkeye zone of the Radar Ti-V-Fe property. Please click here to review the full press release on drill holes #1 and #4. Highlights are listed below.

Highlights:

  • Drilled 2,200m confidently testing targets down to a depth of 200 meters, covering a 500-meter by 350-meter target panel.
  • Winter program analytical results have been obtained for the first two diamond drill holes.
  • Petrographic analysis and the new assays confirm that the main economic mineral is a vanadiferous titanomagnetite (‘VTM’), which is prospective for simplified metallurgical processing.
  • Exceptional intercepts of VTM included 31.5m @ 25.95% Fe + 5.34% TiO 2 + 0.28% V 2 O 5 in HEZ-01 and 50m @ 24.49% Fe + 4.74% TiO 2 + 0.305 % V 2 O 5 in HEZ-04.
  • Massive high-grade VTM samples including HEZ-01 with 0.3m @ 39.5% Fe + 9.4% TiO 2 + 0.339% V 2 O 5 and HEZ-01 with 0.5m @ 43.0% Fe + 9% TiO 2 + 0.512% V 2 O 5 .
  • Drilling intercepts average 20-40% VTM, and particular massive layers exceed 60% VTM.
  • Drilling to vertical depths of 200 meters confirms magnetic anomalies identified by geophysics.
  • Initial drilling covers just 1/40th of the identified 20 km strike extent of the oxide layering zone in the Dykes River intrusion.

Drilling also confirmed massive to semi-massive oxide layering, hosting VTM mineralization, with significant widths up to 210 meters within the drill core. The geological context identified by Dr. Al Miller’s petrographic studies substantially advanced the understanding of Radar Property mineralization. These findings indicate that the VTM mineralization system is advantageous for simplified metallurgical processing and potentially improves economic outcomes.

Figure 2: The prospective oxide layering zone on the Radar property extends for an inferred 20km strike length, as shown on a compilation of historical airborne geophysics, which SAGA confirmed in the 2024 field programs.

Figure 3: Hawkeye Zone displays a   500m strike by 350m width magnetic anomaly drilled in the winter 2025 program. (2024 Saga Metals. TMI Magnetic Survey).

Given the success of the maiden drill program within the Hawkeye zone over a 500 m strike and the strong correlation between drill core, rock samples and geophysics (Figure 3), SAGA plans to repeat this model over the five priority targets along the 20 km strike length of the oxide layer. The geophysical anomaly drilled in the Hawkeye zone is potentially one of the lesser anomalies. Early indications from geophysics being conducted over the Trapper zone report an even stronger magnetic response.

Qualified Person

Paul J. McGuigan, P. Geo. is an Independent Qualified Person as defined under National Instrument 43-101 and has reviewed and approved the technical information related to the Radar Ti-V-Fe Project disclosed in this news release.

About Saga Metals Corp.

Saga Metals Corp. is a North American mining company focused on the exploration and discovery of critical minerals that support the global transition to green energy. The company’s flagship asset, the Double Mer Uranium Project, is located in Labrador, Canada, covering 25,600 hectares. This project features uranium radiometrics that highlight an 18km east-west trend, with a confirmed 14km section producing samples as high as 0.428% U 3 O 8 and uranium uranophane was identified in several areas of highest radiometric response (2024 Double Mer Technical Report).

In addition to its uranium focus, SAGA owns the Legacy Lithium Property in Quebec’s Eeyou Istchee James Bay region. This project, developed in partnership with Rio Tinto, has been expanded through the acquisition of the Amirault Lithium Project. Together, these properties cover 65,849 hectares and share significant geological continuity with other major players in the area, including Rio Tinto, Winsome Resources, Azimut Exploration, and Loyal Lithium.

SAGA also holds additional exploration assets in Labrador, where the company is focused on the discovery of titanium, vanadium, and iron ore. With a portfolio that spans key minerals crucial to the green energy transition, SAGA is strategically positioned to play an essential role in the clean energy future.

On Behalf of the Board of Directors

Mike Stier, Chief Executive Officer

For more information, contact:
Saga Metals Corp.
Investor Relations
Tel: +1 (778) 930-1321
Email: info@SAGAmetals.com
www.SAGAmetals.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Disclaimer

This news release contains forward-looking statements within the meaning of applicable securities laws that are not historical facts. Forward-looking statements are often identified by terms such as ‘will’, ‘may’, ‘should’, ‘anticipates’, ‘expects’, ‘believes’, and similar expressions or the negative of these words or other comparable terminology. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. In particular, this news release contains forward-looking information pertaining to the Company’s Radar Ti-V-Fe project. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage, risks and uncertainties involved in the mineral exploration and development industry, and the risks detailed in the Company’s final prospectus in Manitoba and amended and restated final prospectus for British Columbia, Alberta and Ontario dated August 30, 2024, filed under its SEDAR+ profile at www.sedarplus.ca, and in the continuous disclosure filings made by the Company with securities regulations from time to time. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by applicable law.

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/e5fcaa32-0144-4ab1-8675-6311908d44c5

https://www.globenewswire.com/NewsRoom/AttachmentNg/4d825e7b-917e-4d9b-a851-f4e0bb4edee0

https://www.globenewswire.com/NewsRoom/AttachmentNg/19f0eab7-33e1-4997-b231-965227540f9a

News Provided by GlobeNewswire via QuoteMedia

This post appeared first on investingnews.com

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Group Eleven Intersects 12.0m of 2.30% Cu and 560 g/t Ag, Including 6.4m of 3.72% Cu and 838 g/t Ag, Demonstrating High-Grade Copper and Silver Potential at Ballywire

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Group Eleven Resources Corp. (TSXV: ZNG) (OTC Pink: GRLVF) (FSE: 3GE) (‘Group Eleven’ or the ‘Company’) is pleased to announce assay results from four new holes from the ongoing drill program at the Company’s 100%-owned Ballywire zinc-lead-silver discovery (‘Ballywire’), PG West Project (‘PG West’), Republic of Ireland.

Highlights:

  • 25-3552-31, a 65m step-out hole, intersected two strongly mineralized horizons:
    • Cu-Ag horizon (starting at 348.7m downhole)
      • 19.9m of 1.46% Cu and 356 g/t Ag, including
      • 12.0m of 2.30% Cu and 560 g/t Ag, including
      • 6.4m of 3.72% Cu and 838 g/t Ag
    • Zn-Pb-Ag horizon (starting at 297.0m downhole)
      • 47.1m of 4.5% Zn+Pb (3.1% Zn and 1.4% Pb) and 22 g/t Ag, including
      • 25.9m of 7.4% Zn+Pb (5.1% Zn and 2.3% Pb) and 35 g/t Ag, including
      • 12.9m of 11.0% Zn+Pb (7.7% Zn and 3.2% Pb) and 57 g/t Ag, including
      • 3.7m of 20.4% Zn+Pb (15.8% Zn and 4.6% Pb) and 151 g/t Ag
  • Up to 10.45% Cu (over 0.80m) and up to 1,880 g/t Ag (over 0.86m) intersected in the Cu-Ag horizon; to the Company’s knowledge, this represents the highest-grade Ag intercept in Ireland over the last >60 years (by any operator) and similarly, one of the highest-grade Cu intercepts
  • Cu-Ag horizon consists of replacement-style mineralization along the base of the Waulsortian Limestone in proximity to a fault structure; mineralization appears to consist mostly of tennantite-tetrahedrite (detailed mineralogy work to be undertaken in due course)
  • Noteworthy is the presence of elevated antimony in the Cu-Ag zone, grading 0.27% Sb within the above 6.4m interval (including 0.80m of 10.45% Cu, 1215 g/t Ag and 0.83% Sb)
  • This hole expands the footprint of the 2.6km long discovery trend by at least 65m down-dip, to a total of at least 170m down-dip along this section (and remains open further down-dip)
  • Drilling continues at Ballywire with two rigs testing (i) the NE extension and (ii) 1.3km ENE of the Ballywire discovery in the vicinity of the prospective ‘D’ gravity-high anomaly; a third rig was added this week, testing the deeper Cu-Ag target (below the Waulsortian Limestone)

‘Intersecting spectacular copper-silver grades over significant thicknesses is a pivotal moment for the Ballywire discovery,’ stated Bart Jaworski, CEO. ‘These results not only strongly point to a stratigraphically deeper Cu-Ag horizon but also represent a proof of concept that substantial grades and thicknesses of copper and silver exist at the discovery, in addition to excellent grades of Zn-Pb. The growing presence of critical minerals at Ballywire, namely, copper, germanium and now potentially antimony, highlights the rising strategic importance of this discovery for Ireland, the EU and our shareholders. With today’s Cu-Ag milestone, continued drilling to the NE and along our prospective 6km trend, plus the start of drilling with our third rig, we are poised to further grow shareholder value as the year progresses.’

Exhibit 1. Cross-Section Showing New Drilling (25-3552-31) at Ballywire Discovery

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_exhibit1.jpg

Note: True width of mineralized intervals in 25-3552-31, as a percent of down-hole interval, is estimated to be 50-70%

Exhibit 2. Plan Map Showing New Drilling and Intersected High-Grade Cu-Ag Mineralization

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_exhibit2.jpg

New Step-Out Holes at Ballywire Discovery

The Ballywire prospect at the Company’s 100%-owned PG West Project in Republic of Ireland, represents the most significant mineral discovery in Ireland in over a decade. First announced in Sept-2022, the discovery has 52 holes drilled and reported by Group Eleven to date, including the most recent four holes (25-3552-30, -31, -32, and -33) reported today (see Exhibits 1 to 7).

High-grade Zn-Pb mineralization from 25-3552-31 (see Page 1 and Exhibits 1 to 4) consists predominantly of sphalerite, galena and pyrite. High-grade Cu-Ag mineralization in this hole consists of suspected tennantite/tetrahedrite, chalcopyrite, sphalerite, galena and pyrite along and/or close to the base of the Waulsortian Limestone (see Exhibit 1). Noteworthy is the presence of elevated antimony within the Cu-Ag zone. For example, the 6.39m interval below, grading 3.72% Cu and 838 g/t Ag, also grades 0.27% Sb (including 0.80m of 10.45% Cu, 1215 g/t Ag and 0.83% Sb).

Exhibit 3. Summary of Assays from 25-3552-31 at Ballywire

Item From
(m)		 To
(m)		 Int
(m)		 Zn
(%)		 Pb
(%)		 Zn+Pb
(%)		 Ag
(g/t)		 Cu
(%)
25-3552-31 155.00 155.84 0.84 8.41 1.70 10.11 93.8 –
And 188.89 192.61 3.72 2.34 0.22 2.56 11.9 –
Incl. 190.82 191.75 0.93 4.77 0.45 5.22 25.2 –
And 296.95 344.07 47.12 3.13 1.37 4.50 21.6 –
Incl. 300.76 301.70 0.94 5.21 0.72 5.93 13.9 –
And 309.07 334.96 25.89 5.10 2.27 7.37 35.4 –
Incl. 310.00 322.88 12.88 7.72 3.24 10.95 57.4 –
Incl. 315.49 319.20 3.71 15.81 4.56 20.37 151.1 –
And 347.79 370.42 22.63 0.47 0.51 0.98 315.8 1.30
Incl. 348.71 368.60 19.89 0.49 0.57 1.07 356.5 1.46
Incl. 348.71 360.73 12.02 0.59 0.79 1.38 560.1 2.30
Incl. 353.39 360.73 7.34 0.68 1.27 1.95 768.0 3.36
Incl. 354.34 360.73 6.39 0.65 1.46 2.11 838.0 3.72
Incl. 354.34 355.20 0.86 0.77 0.06 0.83 1880.0 5.73
And 355.20 356.09 0.89 0.09 0.02 0.11 516.0 1.12
And 356.09 357.02 0.93 0.40 8.47 8.87 399.0 1.16
And 357.02 357.98 0.96 0.36 1.15 1.51 128.0 1.19
And 357.98 358.78 0.80 2.44 0.21 2.65 1215.0 10.45
And 358.78 359.84 1.06 0.33 0.06 0.38 979.0 3.92
And 359.84 360.73 0.89 0.45 0.03 0.48 871.0 3.52

 

Note: True width of the mineralized interval in hole 25-3552-31, as a percentage of the down-hole interval, is estimated to be 50-70%; for photographs of Cu-Ag rich core, see Appendix and www.groupelevenresources.com.

Three other holes released today were drilled in a 150m gap to the NE of 25-3552-31 (25-3552-30, -32 and -33; see Exhibit 2). Hole 25-3552-30 returned nil mineralization, 25-3552-32 returned three intervals of mineralization up to 0.94m of 2.4% Zn+Pb (0.9% Zn and 1.5% Pb) and 8 g/t Ag, and 25-3552-33 returned three intervals of mineralization up to 0.82m of 2.9% Zn+Pb (1.1% Zn and 1.8% Pb) and 7 g/t Ag. These zones of mineralization are narrower and weaker than those at the main discovery trend but generally in line with recent holes drilled further to the ENE (see holes G11-3552-24, -26 and 28 in news release dated 25-Mar-2025). Disseminated copper mineralization, as well as, mineralized veins and fractures, is strengthening towards the north, suggesting massive sulphide mineralization may be present further north (see northern-most purple line in Exhibit 4). A second mineralized trend is also emerging to the south where the interpreted Cu-Ag rich ‘feeder’ fault pierced by drilling along the main discovery trend appears to correlate with mineralization approx. 350m along strike to the ENE, intersected in G11-3552-08 (see solid and dashed purple lines in Exhibit 4). Drilling is ongoing in the NE area to test the above targets.

Copper-Silver Target

Today’s results add to a growing body of evidence that support the interpretation of a Cu-Ag ‘feeder’ fault parallel to and spatially associated with the main Zn-Pb-Ag discovery at Ballywire (see Exhibit 4). With up to 10.45% Cu and 1,880 g/t Ag in a mineralized horizon near a steeply dipping structure, mineralizing fluids are interpreted to have emanated from deeper in the sedimentary sequence (see Exhibit 5). Meanwhile, the stratigraphy of the region suggests that the Lower Limestone Shale horizon exists approximately 100-200m below the discovery horizon (base of the Waulsortian Limestone). This horizon hosts four well known Cu-Ag historic occurrences in the surrounding area (see Denison, Oola, Gortdrum and Tullacondra in Exhibit 8, located approx. 5km, 9km, 10km and 45km away from Ballywire, respectively).

These historic Cu-Ag occurrences can be interpreted as the eroded remnants of originally more vertically extensive mineralizing systems, likely representing the roots of stratigraphically higher Zn-Pb-Ag mineralization. At Ballywire, the mineralizing system has the potential to be much larger than its neighbouring occurrences (based on a relatively larger footprint to date); additionally, any Cu-Ag mineralization would notionally be intact below the existing Zn-Pb-Ag mineralization.

Given the compelling nature of this exploration model, Group Eleven added a third rig and began drilling this deeper Cu-Ag target this week.

Exhibit 4. Plan Map Showing Interpreted Cu-Ag ‘Feeder’ at Ballywire

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_exhibit4.jpg

Exhibit 5. Cross-Section Showing Hypothesized Cu-Ag Mineralization in the Lower Limestone Shale

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https://images.newsfilecorp.com/files/5685/251260_exhibit5.jpg

Exhibit 6. Oblique 3D View of Cu-Ag Mineralization at Ballywire

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_exhibit6.jpg

Note: Bodies shown (calcite, Zn-Pb-Ag and Cu-Ag) are not constrained by any grade cut-off and are meant for illustrative purposes only

Exhibit 7. Regional Gravity at Ballywire Showing 6km Long Prospective Trend

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_exhibit7.jpg

Notes to Exhibit 8: (a) Pallas Green MRE is owned by Glencore (see Glencore’s Resources and Reserves Report dated December 31, 2024); (b) Stonepark MRE: see the ‘NI 43-101 Independent Report on the Zinc-Lead Exploration Project at Stonepark, County Limerick, Ireland’, by Gordon, Kelly and van Lente, with an effective date of April 26, 2018, as found on SEDAR; and (c) the historic estimate at Denison was reported by Westland Exploration Limited in ‘Report on Prospecting Licence 464’ by Dermot Hughes dated May, 1988; the historic estimate at Gortdrum was reported in ‘The Geology and Genesis of the Gortdrum Cu-Ag-Hg Orebody’ by G.M. Steed dated 1986; and the historic estimate at Tullacondra was first reported by Munster Base Metals Ltd in ‘Report on Mallow Property’ by David Wilbur, dated December 1973; and later summarized in ‘Cu-Ag Mineralization at Tullacondra, Mallow, Co. Cork’ by Wilbur and Carter in 1986; the above three historic estimates have not been verified as current mineral resources; none of the key assumptions, parameters and methods used to prepare the historic estimates were reported and no resource categories were used; significant data compilation, re-drilling and data verification may be required by a Qualified Person before the historic estimates can be verified and upgraded to be compliant with current NI 43-101 standards; a Qualified Person has not done sufficient work to classify them as a current mineral resource and the Company is not treating the historic estimates as current mineral resources. ‘Rathdowney Trend’ is the south-westerly projection of the Rathdowney Trend, hosting the historic Lisheen and Galmoy mines.

Exhibit 8. Regional Map of Ballywire Discovery and Surrounding Cu-Ag Historic Occurrences

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_exhibit8.jpg

Qualified Person

Technical information in this news release has been approved by Professor Garth Earls, Eur Geol, P.Geo, FSEG, geological consultant at IGS (International Geoscience Services) Limited, and independent ‘Qualified Person’ as defined under Canadian National Instrument 43-101.

Sampling and Analytical Procedures

All core drilled at Ballywire is NQ (47.6mm) and is cut using a rock saw. Sample intervals vary between 0.42m to 1.3m with the majority of samples in the 0.79m to 0.99m range. The half-core samples are bagged, labelled and sealed at Group Elevens core store facility in Limerick, Ireland. Selected sample bags are examined by the Qualified Person. Transport is via an accredited courier service and/or by Group Eleven staff to ALS Laboratories in Loughrea Co. Galway, Ireland. Sample preparation at the ALS facility comprises fine crushing 70%

Quality Assurance/Quality Control (QA/QC) Information

Group Eleven inserts certified reference materials (‘CRMs’ or ‘Standards’) as well as blank material, to its sample stream as part of its industry-standard QA/QC programme. The QC results have been reviewed by the Qualified Person, who is satisfied that all the results are within acceptable parameters. The Qualified Person has validated the sampling and chain of custody protocols used by Group Eleven.

About Group Eleven Resources

Group Eleven Resources Corp. (TSXV: ZNG) (OTC Pink: GRLVF) (FSE: 3GE) is drilling the most significant mineral discovery in the Republic of Ireland in over a decade. The Company announced the Ballywire discovery in September 2022, demonstrating high grades of zinc, lead, silver, copper, germanium and locally, antimony. Key intercepts to date include:

  • 10.8m of 10.0% Zn+Pb and 109 g/t Ag (G11-468-03)
  • 10.1m of 8.6% Zn+Pb and 46 g/t Ag (G11-468-06)
  • 10.5m of 14.7% Zn+Pb, 399 g/t Ag and 0.31% Cu (G11-468-12)
  • 11.2m of 8.9% Zn+Pb and 83 g/t Ag (G11-3552-03)
  • 29.6m of 10.6% Zn+Pb, 78 g/t Ag and 0.15% Cu (G11-3552-12) and
  • 11.8m of 11.6% Zn+Pb, 48 g/t Ag (G11-3552-18)
  • 15.6m of 11.6% Zn+Pb, 122 g/t Ag and 0.19% Cu (G11-3552-27)
  • 12.0m of 1.4% Zn+Pb, 560 g/t Ag, 2.30% Cu and 0.17% Sb (25-3552-31), including
  • 6.4m of 2.1% Zn+Pb, 838 g/t Ag, 3.72% Cu and 0.27% Sb (25-3552-31)

Ballywire is located 20km from Company’s 77.64%-owned Stonepark zinc-lead deposit1, which itself is located adjacent to Glencore’s Pallas Green zinc-lead deposit2. The Company’s two largest shareholders are Glencore Canada Corp. (16.1% interest) and Michael Gentile (16.0%). Additional information about the Company is available at www.groupelevenresources.com.

ON BEHALF OF THE BOARD OF DIRECTORS
Bart Jaworski, P.Geo.
Chief Executive Officer

E: b.jaworski@groupelevenresources.com | T: +353-85-833-2463
E: j.webb@groupelevenresources.com | T: 604-644-9514

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 Note Regarding Forward-Looking Information

This press release contains forward-looking statements within the meaning of applicable securities legislation. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/ reserves and geological interpretations. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-Looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located. All of the Company’s public disclosure filings may be accessed via www.sedarplus.ca and readers are urged to review these materials, including the technical reports filed with respect to the Company’s mineral properties.

APPENDIX – CORE PHOTOS
COPPER-SILVER ZONE IN HOLE 25-3551-31
(With Key Assay Results and Brief Descriptions of Key Mineralogy)

Core Boxes 103-105

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_009full.jpg

Core Boxes 106-108

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https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_010full.jpg

Core Boxes 109-111

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_011full.jpg

(1) Close-Up Core Photo

Above: Dolomitized Waulsortian Limestone, cross-cut by sulphide bearing veins (suspected tennatite-tetrahedrite, chalcopyrite and/or pyrite)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_012full.jpg

(2) Close-Up Core Photo

Above: Suspected tennantite/tetrahedrite (grey), chalcopyrite and pyrite (yellow) and calcite (white)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_013full.jpg

(3) Close-Up Core Photo

Above: Chalcopyrite with some pyrite (yellow) and suspected tennantite/tetrahedrite (grey), calcite (white)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_014full.jpg

(4) Close-Up Core Photo

Above: Semi-massive chalcopyrite and pyrite (yellow), galena (reflective grey)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_015full.jpg

(5) Close-Up Core Photo

Above: Waulsortian Limestones (grey), calcite (white), pyrite and chalcopyrite (yellow)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_016full.jpg

(6) Close-Up Core Photo

Above: Suspected tennantite and tetrahedrite (dark grey), chalcopyrite (yellow), calcite (white)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_017full.jpg

(6a) Close-Up Core Photo

Above: Suspected tennantite and tetrahedrite (dark grey), chalcopyrite (yellow), calcite (white)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_018full.jpg

(7) Close-Up Core Photo

Above: Suspect tennantite and tetrahedrite (dark grey), chalcopyrite (yellow), calcite (white)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_019full.jpg

(8) Close-Up Core Photo

Above: Chalcopyrite (yellow), suspected tennantite/tetrahedrite (grey), calcite (white)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_020full.jpg

(9) Close-Up Core Photo

Above: Fault zone (juxtaposing sub-Waulsortian lithologies against Waulsortian Limestone)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/251260_d0b183a384f7ba3f_021full.jpg

1 Stonepark MRE is 5.1 million tonnes of 11.3% Zn+Pb (8.7% Zn and 2.6% Pb), Inferred (Apr-17-2018)
2 Pallas Green MRE is 45.4 million tonnes of 8.4% Zn+Pb (7.2% Zn + 1.2% Pb), Inferred (Glencore, Dec-31-2024)

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/251260

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