The KE Report

A collision of tightening macroeconomic conditions and physical commodity deficits is reshaping global markets. While major equity averages struggle beneath heavy institutional selling and the bond market prices in structurally higher-for-longer interest rates, energy equities and physical oil are demonstrating explosive relative strength driven by historic inventory drawdowns and escalating geopolitical conflict. Segment 1 & 2 - Rick Bensignor, president of Bensignor Investment Strategies, assesses signs of near-term exhaustion and institutional selling across major equity indices while highlighting sustained upside potential for crude oil and the energy sector amid ongoing geopolitical conflict. He also maps out pivotal technical levels across gold, silver, and copper, while forecasting higher Treasury yields and advising investors to favor short-term Treasury bills over longer-duration bonds. Click here to visit the In The Know Trader website - https://intheknowtrader.com/ Segment 3 & 4 - Josef Schachter, founder and editor of The Schachter Energy Report, and Nathan Ritchie, the firm's VP of Energy Research, analyze how geopolitical tensions involving Iran, tightening global inventories, and strategic reserve dynamics are shaping oil and natural gas prices. They also evaluate corporate earnings outlooks, assess high-upside and dividend-paying energy stocks, and emphasize the importance of hedging and market diversification for natural gas producers navigating price volatility. Josef's Catch The Energy Conference - Oct 17th 2026 - special (Josef is offering free tickets) - enter promocode - SER26 If you enjoy the show, be sure to subscribe to our podcast feed ( KER Podcast ), YouTube channel , and follow us on X for more market commentary and company interviews. Don’t forget to subscribe and leave us a review! For more market commentary & interview summaries, subscribe to our Substacks: The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/ Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

In this Company Update, I am joined by Garrett Ainsworth, President and CEO of District Metals (TSX-V: DMX, OTCQX: DMXCF, Nasdaq First North: DMXSE-SDB). Garrett joins the show to provide insight into the recent tight Swedish election, evaluate what coalition negotiations could mean for domestic mining and uranium policy, and share operational updates across the company’s portfolio. Discussion topics include: Swedish Election Dynamics: An analysis of the razor-thin parliamentary results and what the anticipated multi-month negotiation period means for government stability. Nuclear and Mining Policy: An overview of how major political factions view domestic uranium recovery, nuclear power, and the broader push for critical raw material independence in Europe. Project of National Interest Designation: An update on the timeline for the Geological Survey of Sweden's decision on the Viken deposit and how that designation impacts future mine permitting. Field Operations and Drilling Plans: Key takeaways from recent Alum Shale work, seasonal operational pauses, and the anticipated drill program scheduled for Viken. Corporate Balance Sheet: Insight into the company’s working capital position, holding approximately $15 million CAD in cash against current market valuation. If you have any follow up questions for Garrett please email me at Fleck@kereport.com . Click here to visit the District Metals website to learn more about the Company - https://www.districtmetals.com/ ----------------------------- For more market commentary & interview summaries, subscribe to our Substacks: The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/ Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

In this Company Update, I sit down with Charles Funk, President and CEO of Heliostar Metals (TSX-V: HSTR, OTCQX: HSTXF, FRA: RGG1), to review the company's expanding production profile, operational milestones, and ongoing exploration programs. GDXJ Index Inclusion: Charles outlines what Heliostar’s formal addition to the VanEck Junior Gold Miners ETF means for market exposure, institutional visibility, and liquidity. Transition to Open-Pit Mining: We explore the operational change at La Colorada from residual heap leaching to mining higher-grade open-pit ore at Veta Madre, highlighting expected margins and production timelines. Regional Exploration Upside: The conversation turns to upcoming drilling across untested brownfield and regional targets in Mexico to support multi-year resource growth. High-Grade Antimony in Utah: Charles discusses the opportunity uncovered at the Goldstrike Project, where critical mineral potential could alter project economics and permitting dynamics. Advancing Flagship Ana Paula: An update on feasibility work and key milestones on the road toward the company's targeted 500,000-ounce annual production profile. Please email me at Fleck@kereport.com with any follow up questions for the team at Heliostar Metals. Click here to visit the Heliostar Metals website to learn more about the Company - https://www.heliostarmetals.com/ ------------------------------- For more market commentary & interview summaries, subscribe to our Substacks: The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/ Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

In this Daily Editorial, we welcome Brien Lundin, Editor of Gold Newsletter and host of the New Orleans Investment Conference, to dissect the latest market action across precious metals and the junior mining sector. Echoes of 2015 in Today’s Gold Rebound: An analysis of the post-Fed bounce in gold and silver, drawing striking technical and sentiment parallels to the late-2015 cyclical bottom. The Macro Trap and Sovereign Debt Risks: Why rising bond yields reflect escalating debt service concerns, creating an environment where monetary policy remains structurally supportive of gold. The Evolving Dynamics of Mining M&A: Why senior producers are taking strategic minority stakes instead of paying full acquisition premiums, and what that means for developers. Rewriting the Traditional Lassonde Curve: How juniors are avoiding dilutive equity financings by advancing directly into phased, high-margin production. Key Catalysts and Stocks on Watch: Project developments, resource updates, and exploration catalysts driving value across several featured mining juniors. Stocks Mentioned VanEck Gold Miners ETF (GDX) 1911 Gold Corp. (TSX-V: AUMB / OTCQX: AUMBF) Banyan Gold Corp. (TSX-V: BYN / OTCQB: BYAGF) Delta Resources Ltd. (TSX-V: DLTA / OTCQB: DTARF) Gladiator Metals Corp. (TSX-V: GLAD / OTCQB: GDMRF) Luca Mining Corp. (TSX-V: LUCA / OTCQX: LUCMF) Meridian Mining UK S (TSX: MNO / OTCQX: MRRDF) Click here to learn more about the Gold Newsletter. - https://goldnewsletter.com/ Click here to learn more about the New Orleans Investment Conference on October 28-31. - https://neworleansconference.com/korelin/ --------------------------- For more market commentary & interview summaries, subscribe to our Substacks: The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/ Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

In this Daily Editorial, we are joined by Joel Elconin, Co-Host of the PreMarket Prep Show and Founder of the Stock Trader Network, to unpack the market volatility the last couple days after the Federal Reserve hiked rates by 25 basis points this week. We also dive into the continued winners and losers, as the artificial intelligence infrastructure build out presses on. US Market Volatility: An analysis of which broad market sectors are more immune and which are more sensitive to rising interest rates. Rate Sensitive Sectors: Joel highlights recent weakness leading up to this rate hike in consumer staples, utilities, and transportation. He noted JB Hunt Transport (Nasdaq: JBHT) as a company slipping on the macro news. Macro Headwinds and Rising Yields: Potential economic effects of the 10-year Treasury yield approaching 5%, the mounting pressure bond vigilantes are placing on Federal Reserve policy, and the continued decline in (Nasdaq:TLT) highlighting the ongoing weakness in long-duration bonds. Hardware versus Software Rotation: There has been a revolving rotation from hardware and software with big moves in both directions over the course of this year. Joel points out that hardware appears to have rallied of the “Leo-bottom” but that some companies like Micron (Nasdaq: MU), Broadcom (Nasdaq: AVGO), and Nvidia (Nasdaq: NVDA) still look cheap after recent Q2 earnings reports and forward guidance. The A.I. Trade Marches On: Despite all the recent industry warnings about the risks of A.I., and pushback from investors on the massive capex numbers for the buildout of datacenters, many companies are still benefiting by the circulation and capital spend. Joel highlights the potential future knock-on effects of the AI buildout that may boost companies like Generac (NYSE: GNRC), Eaton (NYSE: ETN), and Quanta Services (NYSE: PWR). Not all companies tied to A.I. are winning though, as highlighted by the multi-month sell-down in Oracle (NYSE: ORCL) on concerns of high debt loads. Click here to visit Joel’s PreMarket Prep website – https://www.premarketprep.com/ Click here to visit the Stock Trader Network – https://www.stocktradernetwork.com/ For more market commentary & interview summaries, subscribe to our Substack reports: The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/ Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

In this Daily Editorial, we welcome Mike Larson, Editor-in-Chief at MoneyShow, to break down the aftermath of the Federal Reserve's latest policy decision, market volatility across asset classes, and where smart money is positioning. Key Discussion Points: Fed Rate Hike and Policy Trajectory: Mike analyzes Chairman Warsh’s hawkish press conference, the committee's focus on stubborn inflation, and whether markets should prepare for a multi-hike cycle into next year. Energy Constraints and Persistent Inflation: How rising crude oil and fuel costs create second-round inflationary effects that central bank interest rate hikes cannot easily resolve. Long-End Yields and Global Bond Market Pressure: What the continued rise in 10-year and 30-year yields signals for borrowing costs, sovereign debt, and yield curve dynamics worldwide. The AI Infrastructure Boom vs. Bubble Risks: Examining whether massive capital expenditures in AI data centers are approaching speculative excess and what that means for physical inputs like copper and natural gas. Technical Setup for Gold and Mining Equities: A breakdown of the recent pullback and key support tests across gold, silver, and mining ETFs, alongside technical observations on Newmont's chart. Click here to find out about the upcoming MoneyShow conferences - https://www.moneyshow.com/ ------------------ For more market commentary & interview summaries, subscribe to our Substacks: The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/ Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to review the value proposition that has his attention in 3 junior gold and copper exploration stocks, that have put out compelling news in the recent past and that have key alpha growth catalysts on tap in the medium-term. The companies we discussed in the interview are: FireFox Gold Corp. (TSX.V:FFOX)(OTCQB:FFOXF) – On September 14, 2026, the Company reported assay results from seven additional drill holes completed at its 100%-owned Mustajärvi Gold Project in Lapland, Finland. Most of these holes were drilled well to the southwest from the recent focus at the East Zone, including one hole (26MJ030) that is the first of a two-hole fence testing the western strike extension of the Northeast Zone. The drill also returned to the Central Zone, which has seen only sporadic drilling in recent years, with three holes on the western side of that lode. This round of results also includes three holes into the gap between the Central and Northeast Zones. * This interview was recorded on Tuesday morning, and then on Wednesday morning Firefox released another exploration result that further animated the marketplace: On September 16, 2026, FireFox Gold announced the discovery of the "Lammas Zone" at its 100%-owned Mustajärvi Gold Project in Lapland, Finland. Lammas is a newly recognized high-grade gold-mineralized zone that is nearly a kilometre east of the main Mustajärvi Shear Zone (MSZ). The discovery drill hole, 26MJ032, intersected several gold-mineralized intervals, highlighted by: 21.0m averaging 4.13 g/t gold from 114.0m depth, including 1.0m at 21.6 g/t gold, and; 4.2m averaging 3.41 g/t gold from 138.0 metres depth ** Cory will be hosting a webinar with Patrick Highsmith, Chairman of FireFox Gold, this Friday September 18th at 9:00am (Pacific Time). Click on the link below to register for this webinar: https://event.webinarjam.com/gykm4/register/rg6k1hvm Red Canyon Resources Ltd. (CSE: REDC | OTCQB: REDRF | Frankfurt: I91) – On September 14, the Company announced the completion of its auger drilling and expanded soil geochemistry programs at its 100% owned Osiris Copper-Gold Project in central British Columbia. The Company completed 31 truck-mounted auger drill holes testing areas at the Camp, Twin Peaks, Rhino, and Nautilus targets, all under glacial till cover. In most cases, auger drill holes were able to penetrate up to 15 cm into the bedrock and recover chip samples. Importantly, two holes at the northern end of Nautilus drilled into altered hornblende porphyry, one of which intersected quartz veining with pyrite and chalcopyrite. Irving Resources Inc. (CSE:IRV)(OTCQX:IRVRF)(FSE:1IR) - On September 14, the Company announced that its aggressive 2026 4-rig drill program at its Omu gold-silver project is underway. One diamond drill rig, Irving's own Zinex A5, is currently testing shallow silica-rich gold-silver mineralization at the Nanko target, part of the Omui mining license. Two diamond drill rigs are testing mineralization that is part of the JX/Irving collaboration within the Honpi mineralized zone of the Omui mining license. A fourth diamond drill is actively drilling extensions of the Omu Sinter deposit. Highlights of the 2026 drill program are as follows: Holes recently completed at Nanko have all encountered extensive shallow, intensely silicified volcanic rocks and hydrothermal breccias and veining. Sulfide minerals are readily evident where rocks are unoxidized. Irving believes a large volume of gold-silver-bearing silica is potentially present at Nanko. This season's drill program is designed to outline the footprint of this system. Drilling at Nanko is immediately south of the area defined at Omui that is subject to an option by JX Advanced Metals Corporation. Two holes are currently being drilled in the JX/Irving collaboration area at Omui. These holes are follow-up to previous drilling which tested silicification and mineralization at shallow depths. Drilling of these holes has just recently begun but are already showing hydrothermal breccias and veining. Click here to follow Erik’s analysis over at The Hedgeless Horseman website * In full disclosure, some companies mentioned by Erik in this interview, are positions held in his personal portfolio, and they may also be site sponsors of The Hedgeless Horseman website at the time of this recording. For more market commentary & interview summaries, subscribe to our Substack reports: The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/ Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

[Recorded: 09-15-2026] Sean Brodrick, Editor of Wealth Megatrends, Supercycle Investor, Resource Trader, and contributing analyst to Weiss Ratings Daily, joins me for a wide-ranging discussion diving into the market volatility across multiple resource and general equity sectors in the current macroeconomic and geopolitical environment. He shares how he is managing his portfolio as it relates to oil and oil stocks, AI stocks, cybersecurity stocks, and gold stocks. We start off discussing the potential macro and market impacts of the first Fed funds rate hike by the US central bank in a few years. While the market had ascribed over a 90% chance of a 25-basis-point hike, through yesterday (when we talked), Sean looks ahead to what that actually means or may achieve for fighting persistently high inflation into the future. Higher rates could negatively affect the housing industry, auto loans, business loans, and slow growth to some degree. Market participants have already been selling bonds, and driving interest rates higher in anticipation of a higher Fed funds rate, along with pushing back on US fiscal policies. There is a “family feud” going on between Kevin Warsh and the Fed working to hike rates on the short end of the yield curve, and Scott Bessent and the US Treasury actively working lower rates on the long end of the yield curve. Sean makes the point that even if the Fed hikes interest rates once, or even a few times, it is not really going to change the fundamental oil supply from the Middle East or tame that inflation input as a result of rising energy prices. We then shifted our focus over to the surge higher to triple-digit oil prices, on the back of deepening conflict across the Middle East. Sean outlined how technical price projections on longer-term charts could allow for a brief spike in WTI up to $150 a barrel. Sean is very comfortable holding onto his oil stocks for now, as they should have a very profitable Q3 on the back of solid Q2 earnings. Next, we unpacked some of the recent slowdown in AI stocks and the pace of advancement, as a few vocal industry participants expressed concerns of losing control of artificial intelligence. Sean highlights that while these concerns are valid, that it has ballooned up into a bigger deal than many were expecting over the last couple weeks. It may be that real motivation to pump the breaks on the pace of A.I. is because the industry would like to see more government regulation that would discourage cheaper open-source foreign platforms from being adopted domestically. He highlights the potential opportunity that restricting or securing against AI threats may present to cybersecurity companies like Palo Alto Networks (Nasdaq: PANW) or CrowdStrike Holdings (Nasdaq: CRWD) Wrapping up, Sean shared his outlook on what fundamentals are driving gold, silver, and the PM stocks down over the last few weeks. In addition to more hawkish statements from Kevin Warsh during the Jackson Hole banking symposium a few weeks ago, Sean points out that it was really the higher inflation readings recently that back-stopped the decision for the Fed raise rates. He remains cautious that short-term economic data around inflation and a stronger US dollar could still trigger some more near-term selling pressure, but he also shares the reasons why he believes this move in the precious metals complex could have legs to begin the next run higher in the medium term. Sean is still mostly animated by revenue-generating gold and silver producers, and will be scanning across the field of companies at the upcoming Beaver Creek Precious Metals Summit for new ideas to report on moving forwards. Click here to follow along with Sean’s work at Weiss Ratings Daily and Wealth Megatrends . Click here to learn more about Resource Trader For more market commentary & interview summaries, subscribe to our Substack reports: The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/ Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

In this Company Introduction, we welcome Richard Osmond, President and CEO of Element 29 Resources (TSX-V: ECU, OTCQB: EMTRF), for a comprehensive exploration update on the company's portfolio of copper assets in Peru. Richard breaks down the advantages of the flagship Elida project, its unusually low strip ratio, infrastructure access, and the path forward toward an updated resource estimate and preliminary economic assessment. Flagship Elida asset and infrastructure advantages: An overview of the 100%-owned copper-molybdenum porphyry system, its discovery history, and the logistical edge of operating at low elevation with nearby paved highways, power, and port access. Maiden resource and low strip ratio: Insights into the 322-million-tonne pit-constrained resource, higher-grade starter zones, and a 0.74:1 strip ratio. Fully funded drill program and expansion targets: Details on the fully financed 12,000-meter multi-rig campaign designed to test deeper mineralization, delineate near-surface shells, and support an updated resource model. Regional pipeline upside: A briefing on drill-ready exploration assets, including the Flor de Cobre project in the Southern Peru copper belt and the high-grade skarn potential at Paka. Strategic capital and leadership depth: Discussion on the strong shareholder register featuring Alpayana, Haywood, and mining industry veterans, alongside board governance from former Capstone and Wheaton Precious Metals leadership. Click here to visit the Element 29 website to learn more about the Company - https://www.e29copper.com/ ------------------------- Please email us with any follow up questions you have for Richard. Our email addresses are Fleck@kereport.com and Shad@kereport.com . For more market commentary & interview summaries, subscribe to our Substacks: The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/ Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Roger Rosmus, Founder, CEO, & Director of Goliath Resources Ltd (TSX-V: GOT) (OTCQX: GOTRF) (FSE: B4IF), joins me for another exploration update at their Surebet Discovery on the Golddigger Property; located in the Golden Triangle of British Columbia. We review a series of news releases from mid-August through early September which highlight more high-grade gold drill assays returned when stepping out from the Bonanza and Golden Gate Zones. A new zone of bulk-tonnage mineralization has also been identified between those 2 larger zones. The fully funded 2026 drill program at the Surebet is targeting ~90 planned holes and approximately 50,000 meters of systematic drilling, including 7 drill rigs targeting expansion of the known gold mineralization both laterally and at depth. This year the team at Goliath elected to really test the geological model; focusing on big step-out drilling to expand the deposit footprint, and all holes reported thus far have encountered mineralization, significantly growing the overall deposit. We started off discussing the drill holes coming back that continue to delineate high-grade gold, silver, and copper mineralization. Drill hole GD-26-436 from the Surebet Zone, intersected an extensive mineralized interval near the surface that assayed 7.38 g/t AuEq over 35.7 meters, including 19.51 g/t AuEq over 8.32 meters. This entire interval is characterized by veining, alteration, and anomalous gold grades throughout its length with multiple high-grade subintervals. It also contains several occurrences of visible gold to the naked eye (VG-NE), native silver associated with galena, sphalerite, pyrrhotite and chalcopyrite in quartz-sulphide stockwork and breccia hosted in sandstones There also has been a new understanding developed, through the relogging of prior year’s drill core and examining the new core from 2026, which is defining a new area of mineralization between Bonanza and Gold Gate. This new area was originally referred to as the Volcanic Wedge, but has been re-branded by the exploration team as the “Big Bulk zone.” Roger outlines that in a mining scenario this lower-grade bulk tonnage mineralization would still be extracted because there would be “no gold left behind.” Drill holes GD-26-425 and GD-26-462 marked the presence of the volcanic Wedge Zone (Big Bulk zone) in the western and northeastern fringes of the mineralized system, respectively. These two newly discovered mineralized areas add to these two previously discovered Zone domains (see news August 31, 2026): the first located in the south-central part of the known mineralized system and the second in the recently announced 540 meter step-out to the Southwest of the Surebet system. There are approximately 900 meters of untested volcanics by the drill bit separating the domains discovered in the West and Southwest of the system that have the potential to host further mineralization part of the volcanic Big Bulk Zone. This new Zone of mineralization is characterized by broad intervals of gold within quartz-sulphide mineralization including (VG-NE) that typically extends for 10 – 50 meters in drill core, inclusive of close to surface grades of up to 1.97 g/t AuEq over 33 meters. Quartz-sulphide mineralization intersected in multiple step-out drill holes expanded the Golden Gate Zone (located within the volcanics) by an additional 160 meters to the northeast, beyond the previously reported 320-meter expansion, bringing the total 2026 expansion to 480 meters on the northeastern side and 540 meters on the southwestern side of the Surebet system for a total expansion of 1,020 meters (see news releases dated August 10 and August 11, 2026). The resulting Golden Gate mineralized footprint is 1.17 km2 , representing a 38% increase compared to 0.85 km2 defined prior to the 2026 drilling program. The Golden Gate Zone remains open for expansion and many holes drilled still have assays pending. If you have any questions for Roger about Goliath Resources, then please email them to me at Shad@kereport.com . In full disclosure, Shad is a shareholder of Goliath Resources at the time of this recording and may choose to buy or sell shares at any time. Click here to follow the latest news from Goliath Resources For more market commentary & interview summaries, subscribe to our Substack reports: The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/ Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Terry Lynch, CEO of Power Metallic Mines Inc. (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV1), joins us to review the key takeaways from the updated Mineral Resource Estimate and a comprehensive exploration update from their fully funded 100,000-meter drill program at the polymetallic NISK Project, located in the James Bay territory of Québec. We also discuss all the pending drill results still at the assay lab further expanding the Lion Zone, other key regional exploration targets of interest, and the various modern technological survey approaches being deployed to guide their drill targeting. On Sept. 8, Power Metallic announced an updated Mineral Resource Estimate ("MRE") for its Nisk Project (Power Metallic 80% / Critical Elements Lithium Corp. 20%) including the inaugural mineral resource for the Lion Zone and an updated mineral resource for the Nisk Main deposit. Key Highlights: On Sept. 8, Power Metallic announced an updated Mineral Resource Estimate ("MRE") for its Nisk Project (Power Metallic 80% / Critical Elements Lithium Corp. 20%), including the inaugural mineral resource for the Lion Zone and an updated mineral resource for the Nisk Main deposit. Lion contains 4.145 Mt Indicated at 3.86% CuEq (68% Cu, 2.61 g/t Pd, 0.85 g/t Pt, 0.49 g/t Au, 12.21 g/t Ag, 0.10% Ni), plus 0.601 Mt Inferred at 4.01% CuEq (1.84% Cu, 2.86 g/t Pd, 0.59 g/t Pt, 0.41 g/t Au, 12.47 g/t Ag, 0.13% Ni). Over 85% of resource already in Indicated status MRE cut-off was April 19; the post-MRE cut-off deep drilling was not included Currently 5 drill rigs are still active, as part of the ongoing 100,000 meter exploration program Additional assays are expected back from the lab by late September Mineralization starts at surface with ~59% of tonnes within open-pit resource Metallurgical studies have demonstrated a >98% Cu recovery, with a 25%+ Cu concentrate The company has ongoing workstreams building towards a Preliminary Economic Study (PEA) in H1 of 2027. From here, the exploration question is how deep Lion goes and where the nickel went? Lion carries the copper and precious metals that come out of a magmatic sulphide system last; the nickel-rich sulphide that comes out first should be somewhere in the system, and the Company has not found it yet. The summer program has been aimed at the down-dip extension of the shoot, with some holes targeting hundreds of metres below the current resource. Assays on Lion Deep are expected by the end of September. Terry outlines that the current drill program focused on expanding the mineralization around the Lion Zone both stepping out looking for other broad mineralized zones, and also testing at depth for the potential “Elephant Zone” feeder system to the mineralization at Lion West, Lion Deep, and the Tiger Deep zones. Terry mentioned that there were some surprising gold intercept values encountered when testing part of Lion Deep that will get some follow-up work down the road. Additionally, new polymetallic targets are being tested in fan holes at the Hydro Fold-Hinge Zone, which will utilize borehole EM technology. Next we discussed the utilization of modern scientific approaches to exploration, building on the recent Muon Tomography program to accelerate the hunt for deeper high-grade Ni-Cu-PGE zones, look for a similar specific gravity reading as where they’ve already encountered massive sulphide mineralization. Power Metallic is also conducting an Ambient Noise Tomography (ANT) survey on the Nisk Far West target, completing a gravity survey over the Lion area, and completing a superconducting quantum magnetometer SQUIDs survey over the Lion area. These state-of-the-art techniques that will sharpen future drill targeting for the Lion Zone extensions and new discoveries across the expanded property. Wrapping up Terry outlined the larger value proposition in Power Metallic with updated MRE leading to a PEA in H1 of 2027, all the additional drill results that will keep coming in for the foreseeable future, the extra optionality from the Saudi Arabian exploration initiatives, and the continued exposure to Chilean Metals. Click here to follow the latest news from Power Metallic Mines For more market commentary & interview summaries, subscribe to our Substack reports: The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/ Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

In this Daily Editorial, we welcome back Dave Erfle, founder and editor of The Junior Miner Junky, to break down the latest technical and macroeconomic developments shaping the precious metals complex. Key Technical Retracement Levels: Critical support zones across gold, silver, GDX, and GDXJ to watch this week on a closing basis to determine whether this pullback remains a standard, healthy consolidation. Miners Showing Relative Strength: Why gold and silver equities are behaving differently compared to past corrections, outperforming the underlying metals as producers defend massive operating margins and attempt a multi-year base breakout. Bond Market Volatility and Rate Cycles: How spiking yields on global benchmark bonds and mounting sovereign debt pressures are influencing investor positioning, alongside historical evidence of how gold performs during aggressive rate-hiking regimes. Sector Rotation and Capital Flight: Evidence of institutional money shifting away from traditional sovereign debt into monetary metals, and how central bank reserve trends are spilling into major equity leadership. Junior Mining Strategy and M&A Catalysts: The widening performance gap between early-stage explorers and advanced developers, well-funded treasury runways, and why upcoming industry gatherings in Colorado could spark the next wave of corporate transactions. Click here to visit the Junior Miner Junky website to learn more about Dave’s investment letter - https://www.juniorminerjunky.com/ --------------------------- For more market commentary & interview summaries, subscribe to our Substacks: The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/ Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

In this Company Update, we sit down with Bob Archer, President and CEO of Pinnacle Silver and Gold (TSX-V: PINN, OTCQB: PSGCF, Frankfurt: P9J), to review recent high-grade underground drill results from the El Potrero Project in Mexico and discuss upcoming exploration milestones. High-Grade Drill Highlights: An overview of recent assays from the Pinos Cuatas mine, including standout intercepts from Hole 68: 6.19 g/t Au and 90 g/t Ag over a core length of 10.89 metres including 58.2 g/t Au and 631 g/t Ag over 0.41 metres. Vein Continuity and Stope Planning: How targeted underground drilling confirms continuity along strike and up-dip, helping the technical team outline material for future mine planning. Expanding Beyond Historical Workings: Insights into how the latest drill holes continue to expand mineralization well past the historical footprints of the underground workings. Transition to Surface Drilling: Details on the ongoing current underground campaign and the operational setup for an upcoming 5,000-meter surface drill program across multiple vein targets. Please email me with any follow up questions you have for Bob - Fleck@kereport.com . Click here to visit the Pinnacle Silver and Gold website to learn more about the company and read over the recent news ------------------------- For more market commentary & interview summaries, subscribe to our Substacks: The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/ Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

In this Daily Editorial, I am joined by Craig Hemke, Founder and Editor of TF Metals Report, to analyze the shifting macro landscape, key central bank catalysts, and the latest technical action in the gold and silver markets. FOMC Expectations and the Yield Curve: A look into shifting market expectations for Wednesday’s Fed decision, how the bond market has moved ahead of policy makers, and what the latest Summary of Economic Projections could mean for market direction. Geopolitical Escalation and Energy Shocks: How widening conflict and major Middle Eastern pipeline infrastructure damage are supporting crude oil prices and altering the inflation narrative. Precious Metals Price Consolidation: Why the pullback from the August highs resembles a healthy, multi-month base-building process rather than the start of a deep breakdown. Plunging COMEX Open Interest: The structural impact of near-record low open interest and changing exchange margin rules, leaving thin order books that create volatile air pockets in both directions. Gold Versus Silver Performance: Technical divergence across the metals space as gold maintains relative strength near major moving averages while silver works through an extended technical digestive phase. Click here to visit Craig’s website - TF Metals Report - https://www.tfmetalsreport.com/ ------------------ For more market commentary & interview summaries, subscribe to our Substacks: The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/ Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

In this Company Update, we welcome Alistair Waddell, President and CEO of Inflection Resources (CSE: AUCU, OTCQB: AUCUF), to provide an exploration update from the Trangie Project and across the company's copper-gold portfolio in Australia. Alistair breaks down the air-core drilling program nearing completion at the Trangie Project in New South Wales under the exploration agreement with AngloGold Ashanti, followed by geophysical progress and drill planning at the 100%-owned Endurance Project in the Northern Territory. Trangie Project Exploration Strategy: The methodology and objectives behind the ongoing 92-hole, over 16,000-meter air-core program through cover, and when the market can expect the full batch of assay results. Geochemical Vectoring and District Potential: How multi-element assaying and alteration footprints are being used to map prospective alkalic porphyry clusters analogous to the nearby Northparkes deposit. Target Definition at the Endurance Project: Recent gravity and induced polarization survey results over the Big Eye and Barrel Eye anomalies, paving the way for maiden scout drilling of large-scale IOCG targets. Non-Dilutive Capital and Project Generation: How co-funding grants from the Northern Territory government support ground geophysics, alongside the broader prospect generator strategy and ongoing technical work. If you have any follow up questions for Alistair please email us at Fleck@kereport.com and Shad@kereport.com . Click here to visit the Inflection Resources website to learn more about the Company - https://inflectionresources.com/ -------------------------- For more market commentary & interview summaries, subscribe to our Substacks: The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/ Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Keith Bodnarchuk, President and CEO of Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) (FSE: SSKU), joins me to review the 6,700+ meter 13-hole summer drill program along the Cyclone Trend at the Company’s Murphy Lake North (“MLN”) project. We also discuss the upcoming drill mobilization for their Darby Project, and for the Aurora Project in the near future. Murphy Lake North and Darby are both joint venture projects between Cosa and Denison Mines Corp. (TSX: DML) (NYSE American: DNN). Cosa is the project operator and holds a 70% interest with Denison holding a 30% interest on both properties. MLN is located three kilometres east of IsoEnergy’s Hurricane deposit, in the eastern Athabasca Basin, Saskatchewan, and was the focus of this summer program’s drill results. Highlights Multiple zones of structurally controlled alteration and elevated radioactivity remain open along strike for several hundred meters and on multiple sections Drilling evaluated multiple structures over 650 metres of strike length with all 13 drill holes intersecting strong structure and/or alteration Summer 2026 drilling prioritized unconformity targets with significant room for basement-hosted mineralization remaining With $16 million in the treasury, Cosa remains fully funded for a significant follow up drilling campaign The 13-hole, 6,752 metre drill program followed up winter results at the Cyclone trend highlighted by 5.0 metres averaging 0.55% U3O8 (308.5-313.5 metres) in MLN26-013 including a 0.5 metre subinterval of 1.70% U3O8 (310.5-311.0 metres). Summer drilling targeted the Cyclone trend over a 650-metre strike length extending 400 metres west and 250 metres east of MLN26-013. All 13 summer drill holes intersected moderate to strong alteration and/or structure, and several drill holes intersected intervals of elevated radioactivity. Drilling identified two prominent faults, the N- and S-faults, which are generally located along the northern and southern edges of the Cyclone graphitic basement unit. The N-fault is the most prominent basement structure intersected on the project and hosts the zone of strong basement alteration intersected by winter 2026 drill hole MLN26-017. Next Steps: With C$16 million the treasury, the Company remains well-funded for a significant follow up winter campaign at Murphy Lake North. Immediate follow up targets include the uranium pathfinder element enriched basement alteration zone intersected by MLN26-017 and MLN26-020C1, the S-fault, and the strike extensions of the N-fault. Additionally, the Company expects to announce commencement of drilling at the Darby and Aurora projects in the coming days. If you have any questions for Keith or Andy regarding Cosa Resources then please email them into me at Shad@kereport.com * In full disclosure, Shad is a shareholder of Cosa Resources at the time of this recording and may choose to buy or sell shares at any time. Click here to follow the latest news from Cosa Resources For more market commentary & interview summaries, subscribe to our Substack reports: The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/ Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Brad Rourke, Executive Chairman of Scottie Resources Corp. (TSXV: SCOT) (OTCQB: SCTSF) (FSE: SR80), joins me to review the first drill results, at the Blueberry Contact Zone, from the fully-funded 50,000 metre 2026 drill program at the Scottie Gold Mine Project; located in the Golden Triangle of British Columbia. We also expand on the pathway forward into development of the Project, and eventual production in 2028. On September 9th, the company released the first assays from its 2026 drill program, including multiple high-grade gold intercepts on its Blueberry and Lemoffe vein zones. Highlights: Blueberry Contact drillhole SR26-492 intersected 9.7 grams per tonne (g/t) gold over 18.00 metres (m), including 40.4 g/t gold over 2.0 m at the Lemoffe vein zone. The hole also intercepted an additional Lemoffe vein grading 15.9 g/t gold over 2.0 m (Table 1, Figures 1,2). Blueberry Contact drillhole SR26-489 intersected 26.2 g/t gold over 2.45 m at the Lemoffe vein zone (Table 1, Figures 1,3). Blueberry Contact drillhole SR26-490 intersected 14.6 g/t gold over 2.45 m at the Blueberry vein zone (Table 1, Figures 1,4). More than 40,000 m of drilling this season has been completed in 160 holes, with an additional 12,000 to 16,000 m forecasted to be completed within the existing budget due to better-than-expected drilling productivity. Four drill holes are reported in this news release with assays pending, results will be reported throughout the remainder of the year as received. Eight diamond drills are currently turning; seven on the Scottie Gold Mine Project and one on Cambria Project. Brad highlighted that the 2026 drilling program is focused on three key objectives: upgrading inferred ounces to indicated through infill drilling, expanding known vein zones, and testing major step-outs and new targets. This year’s exploration program is expected to be in the order of 52,000 to 56,000 total metres. We discussed some holes testing expansion targets like Wolf, P-Zone, C&D veins, and Domino. After all the 2026 data comes in the Company will then update the Resource Estimate and complete the workstreams to announce the Feasibility Study in 2027, with first production anticipated in 2028. If you have any questions for Brad regarding Scottie Resources, then please email me at Shad@kereport.com . In full disclosure, Shad is a shareholder of Scottie Resources at the time of this recording and may choose to buy or sell shares at any time. Click here to follow the latest news from Scottie Resources For more market commentary & interview summaries, subscribe to our Substack reports: The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/ Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

As macro fault lines widen from Treasury intervention to global reserve diversification, markets are flashing sharply conflicting signals across commodities and headline equities. This Weekend Show brings together macroeconomic asset manager Axel Merk to assess precious metals valuations and fiscal policy crosscurrents, alongside technical analyst TG Watkins to dissect alarming breadth breakdowns and unprecedented volume shifts in leveraged funds. Segment 1 & 2 - Axel Merk, President and Chief Investment Officer of Merk Investments, joins the program to discuss the macroeconomic factors driving the precious metals sector, including Federal Reserve monetary policy, Treasury actions, and rising global debt. Throughout the discussion, he analyzes the durability of the current gold bull market and central bank demand while emphasizing the importance of strong management teams when evaluating undervalued mining equities. Click here to learn more about Merk Investments - https://www.merkinvestments.com/ Segment 3 & 4 - TG Watkins, Director of Stocks at Simpler Trading and editor of Profit Pilot, provides a technical chart analysis evaluating commodities, energy, and broad equity markets. He outlines anticipated pullbacks toward key moving averages for gold, silver, and copper, while warning that frothy crude oil prices and underlying weakness in equal-weight and small-cap indexes indicate an impending seasonal market correction before another leg higher. Click here to visit TG’s site - Profit Pilot - https://www.profit-pilot.com/ If you enjoy the show, be sure to subscribe to our podcast feed ( KER Podcast ), YouTube channel , and follow us on X for more market commentary and company interviews. Don’t forget to subscribe and leave us a review! For more market commentary & interview summaries, subscribe to our Substacks: The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/ Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Jayant Bhandari, a private strategic resource investor that consults many high-net-worth investors and institutions, joins me to share 3 different arbitrage trade opportunities in critical minerals resource stock mergers, the value proposition he sees in 2 gold exploration companies, his outlook on the Chinese economy, and information on his upcoming Capitalism and Morality Conference next weekend in Vancouver. We start off focused on the value arbitrage setups in 3 critical minerals stock pairs with open merger and acquisition transactions, along with opportunities in 2 gold explorers that he holds in his own portfolio. The companies that we reviewed are: Arbitrage trade in the acquisition of European Lithium Limited (ASX: EUR, FRA: PF8, OTC: EULIF) by Critical Metals Corp. (Nasdaq: CRML) Arbitrage trade in the acquisition of Cygnus Metals Limited (ASX:CY5, TSXV: CYG, OTCQB: CYGGF) by Central Asia Metals PLC (AIM: CAML). Arbitrage trade in the merger of Silver47 Exploration Corp. (TSXV: AGA) (OTCQX: AAGAF) (FSE: QP2) with Bunker Hill Mining Corp. (TSX: BNKR) (OTCQB: BHLL) Value proposition in the exploration strategy for Aztec Minerals Corp. (TSX-V: AZT), (OTCQB: AZZTF). Value proposition in the exploration and development strategy for Irving Resources Inc. (CSE:IRV)(OTCQX:IRVRF). Jayant then comments on is outlook on the economic health in China being more robust than is often covered in Western media outlets. After regularly visiting many parts of China for extended periods for almost 2 decades, he remains encouraged by recent trends in the improving openness and culture, leading edge advancements in technology; even if there are some ongoing concerns about unemployment and real estate. Wrapping up, Jayant shares more information about why listeners may want to attend his Capitalism and Morality conference next weekend on September 18th-19th this year in Vancouver, featuring Rick Rule and Adrian Day. To register for the Capitalism and Morality conference or for more information click here: For more market commentary & interview summaries, subscribe to our Substack reports: The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/ Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Ken Armstrong, CEO of Westhaven Gold Corp. (TSX-V: WHN) (OTCQB: WTHVF) (FRA: 1W5), joins us for a corporate update on the management and board refresh from 2024-2025, the transformational strategic earn-in agreement with Dundee Corp initially announced in December of 2025, and the ongoing 50,000m infill and expansion exploration program at the Shovelnose Project in British Columbia. We also discuss the development work on tap along the pathway towards a Pre-Feasibility Study and then Feasibility study. Westhaven is a gold and silver focused exploration and development company targeting low sulphidation, high-grade, epithermal style gold and silver mineralization within the Spences Bridge Gold Belt in southern British Columbia. Westhaven controls ~60,263 hectares within four properties spread along this underexplored belt. The Shovelnose gold and silver project is the most advanced property, with a 2025 updated Preliminary Economic Assessment that validates the project’s potential as a robust, low cost and high margin 11-year underground gold mining opportunity with average annual life-of-mine production of 56,000 ounces gold and 313,000 ounces silver with a CDN$454 million after-tax net present value (at a 6% discount rate) and 43.2% IRR (base case parameters of US$2,400 per ounce gold, US$28 per ounce silver and CDN/US$ exchange rate of CDN$1.00=US$0.72).1 On February 23, 2026, Westhaven closed a strategic earn-in agreement with Dundee Corporation, whereby Dundee may earn up to a 60% interest in Westhaven's four Spences Bridge Gold Belt properties through up to CDN$85,000,000 in staged project expenditures. Under the first phase, Dundee has committed a minimum of CDN$30,000,000, inclusive of a fully funded 50,000m drill program and pre-feasibility work at Shovelnose. The agreement allows for the accelerated exploration and evaluation of one of Canada's most compelling, undeveloped, high-margin gold and silver assets. Assay results that have been coming in from the ongoing 35,000m four-rig resource infill drilling program at the South Zone gold and silver deposit on the Shovelnose gold property, continue to show excellent continuity of mineralization in each of Vein Zones 1, 2 and 3. A fifth rig has been added for the ongoing 15,000m exploration drill program that will run through December. Click here to follow the latest news from Westhaven Gold If you have any question for Ken regarding Westhaven Gold, then please email those to us at Fleck@kereport.com or Shad@kereport.com . For more market commentary & interview summaries, subscribe to our Substack reports: The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/ Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.