Drill Program

CanAlaska Uranium announced positive results from its 2025 geophysical survey at the West McArthur project, extending the C10/C10S corridor to 16km. The survey delineated multiple conductor plates, improving drill targeting. A $15M exploration budget for 2026, a 20% increase, will fund an early January drilling program using three rigs. While significant potential exists, 10km of the corridor remain untested. Option agreements with Bayridge and Paradigm were terminated, focusing CanAlaska on its uranium assets.

Formation Metals (FOMTF) announced an upsized C$8.6M financing via LIFE units and a flow-through private placement to advance its N2 Gold Project in Quebec. The funding will increase working capital to ~$13M and the exploration budget to ~$8.5M+, supporting a 20,000-meter drill program. Phase 1, already underway, targets the “A” and “RJ” zones. The offering involves potential dilution and a hold period for flow-through shares. The N2 Gold Project boasts a historical resource of ~870,000 ounces with multiple zones open for expansion.

Formation Metals is expanding its maiden drill program at the N2 Gold Project in Quebec to 7,500 meters. The program, starting in July, targets previously identified gold zones and aims to discover new mineralized trends across the advanced project, which holds a historical resource of approximately 870,000 ounces. The company also notes significant base metal potential at the N2 property.