THE DISPATCH

The Friday Dispatch

Happy Friday.

The week's nearly behind us, and from where I sit it was a good one.

A quick word on DirtPays before the bigger thing on my mind. On Tuesday I told you the big job boards were broken and that I'd put your roles in front of the people who can actually fill them.

Since then the roles have been arriving. Operators, dealers, fabricators, service shops. One at a time, from people who gave up on LinkedIn and Indeed a while ago and never made a fuss about it.

None of that surprised me. You already knew. The good people in our industries aren't refreshing a feed, they're working, and the boards stopped reaching them a long time ago. So if you've got a role you need filled, send it my way. I'll get it in front of the right people and show you how this works differently with me. Just reply to this and we'll sort it out.

Now the bigger thing.

July 1 is five days away. CUSMA's first joint review. A lot of folks are bracing for it like bad weather coming up the coast. I'm not, and here's why.

Just because CUSMA is on the table doesn't mean we are. We dig the critical minerals the whole world suddenly can't get enough of. We build the machines, run the projects, and fix what breaks at forty below without being asked twice. For a long time the world took all of that for granted. Lately I get the sense they're starting to see we're worth chatting with.

That's not a weak hand. That's a good one.

I won't pretend the noise makes planning easy. Tariffs come off one week and get bolted back on the next, and nobody can tell you with a straight face which lines hold through the summer. But I've watched Canadians solve harder problems than this with less to work with, and come out the other side better for it. So I'm betting on us. I usually do, and it usually pays.

Keep making calls and keep showing up.
That part has never once let me down.

Which has me curious where your head's at. If you're buying equipment right now, that uncertainty lands square on your capital budget.

Are you pulling purchases forward to get ahead of July 1, sitting tight until the picture clears, or building the unknown into the number and getting on with it?

// Drill Results

• Pan American Silver Discovers New High Grade Veins At The La Colorada Mine

• Silver Range Expands Alamo Gold Copper Target

• Idex Metals Commences Drilling Completes Expanded Ip Survey At The Freeze Property Idaho

• Harfang Annonce Les Resultats De Forage A Mista Au Quebec

• Harfang Announces Drill Results From Mista In Quebec

• District Commences Drilling At The Osterkalen Mineral License Within The Alum Shale Properties In Sweden

• Spartan Metals Exploration Program Confirms Tungsten Skarn Discoveries At Past Producing Mine At Eagle Project Nevada

• Talisker Intersects 85 00 G T Au Over 0 5 M Within 15301

• Luca Intersects 28 4 Metres Of 2 3 G T Gold 135 G T Silver 0 6 Copper 1 Lead And 3 7 Zinc At The El Rey Zone Campo Morado Mine

• Kirkland Lake Discoveries Extends Mirado System 120 M South Step Out Hits 79 63 G T Au Over 2 1 M

// Resource & Studies

• Pan American Announces Revised Pea For The La Colorada Skarn Project Positions La Colorada As A Future Top Tier Silver Mine

• Lac Otelnuk Iron Project Reaches An Important Milestone With The Completion Of A Technical Gap Analysis

• Nexmetals Increases Selkirk Mineral Resource By 70 Establishing 1 1 Billion Pounds Of Copper Equivalent In The Indicated Category And 200 Million Pounds In Inferred Category

• Update On The Storm Copper Project Advancing Towards Development

• Newcore Gold Announces Robust Pre Feasibility Study For The Enchi Gold Project Ghana

• Rio2 Updates Condestable Mine Resources Reserves

• Generation Uranium Integrates Mmt Survey Into Historic Targets And Investigates Ai Targeting

• Granada Gold Announces 64 Increase In Measured And Indicated Mineral Resources To 890 600 Oz Au 15 982 000 Tonnes At 1.73 G T

• Ae Fuels Achieves 95 99 Manganese Recovery And Produces Battery Grade Hpmsm Crystals From Continuous Mini Pilot Testing

• Fury Announces Metallurgical Test Results For The Ninaaskumuwin Lithium Discovery With Potential Direct Shipping Ore Concentrate Of 6 0 Li%e2%82%82o%e2%82%85 And 77 Recovery

// M&A & Deals

• New Age Metals Enters Into Memorandum Of Understanding With Liberate Minerals To Evaluate Critical Minerals Processing Opportunities 2

• News %2f Press Releases

• Orla Announces Receipt Of Interim Order And Filing Of Special Meeting Materials

• Equinox Gold Announces Filing And Mailing Of Meeting Materials For Thespecial Meeting Of Shareholders To Approve Business Combination With Orla Mining

• Generation Uranium Signs New Agreement On The Yath Extension Project

• Winshear Provides Update On Thunder Bay Project Purchases Assessment Credit And Relinquishes Selective Ground

• Panoro Minerals Ltd Announces Receipt Of Us 5.2 Million Payment From The Sale Of Non Core Asset

• Dlp Earns 100 Ownership Of Aurora Project And Secures Six Year Community Land Use Agreement

• Olympio To Resume Drilling At Bousquet Gold Project Earns 51 Interest

• Past Producer High Grade Silver Boundary Areas Targeted For Next Phase Of Drilling

// Financing

• Big Ridge Gold Corp Announces 7.0 Million Non Brokered Private Placement Supported By Existing Strategic Shareholders With

• Centurion Announces Fully Subscribed 1000000 Private Placement

• Buffalo Potash Announces Second Upsize Of Non Brokered Private Placement To C13500000

• Generation Mining Secures Cad 200 Million Subordi 15299

• Coppernico Metals Announces Upsized Life Offering

• Bullion Announces 1 5 Million Private Placement

• Rathdowney Announces Private Placement Financing

• Baru Gold Closes Private Placement

• Aben Gold Corp Closes 1.3 Million Private Placement Of Flow Through Units

• Ais Resources Announces Private Placement Financing With Strategic Investor

// Production & Operations

• Orla Mining Reaches Agreement On Camino Rojo Productivity Bonus

• Putting Montanas Tungsten District Back To Work

• Ais Resources Engages Icor Drilling Services For Summer Drilling Program

• Orla Mining Reports Resumption Of Operations At Camino Rojo

• Hypromag Usa Advances Texas Hub And U.s Magnet Platform

• Giga Metals Launches Summer Geophysics Program To Advance Attic Zone

• Ucore Produces Ndpr Oxide And Ships Qualification Samples To Major Rare Earth Magnet Manufacturers

• Enduro Metals Outlines 2026 Exploration Program On Newmont Lake Project British Columbia

• Hypromag Usa Advances Texas Hub And U.s Magnet Platform

• Silver Spruce Resources Announces Resumption Of Exploration At Its Melchett Lake Au Ag Zn Pb Cu Volcanogenic Massive Sulphide

// Permitting & ESG

• Spin Out From Aldebaran Centauri Minerals Announces Approval Of Drilling Permit For The Rio Grande Gold Copper Project And Team Additions

• Lake Victoria Gold Clears Path For Construction At Imwelo Following Successful Sterilization Drilling

• Equinox Gold Publishes 2025 Sustainability Report

• Capstone Copper Announces Labour Agreements At Mantos Blancos Operation

• Capstone Copper Announces Labour Agreements At Mantos Blancos Operation

• Capstone Copper Submits Environmental Permit For Mantos Blancos Phase Ii

• Capstone Copper Submits Environmental Permit For Mantos Blancos Phase Ii

• District Receives Drill Permit For The Osterkalen Mineral License At The Alum Shale Properties In Sweden

• Pan American Silver Releases 2025 Sustainability Report

• Nr June 8 2028

// Corporate

• Pan American Silver To Host Investor Day On June 1 2026

• Pan American Silver Reports First Quarter 2026 Financial Results Strong Mine Operating Earnings Lead To Record Cash Balance And An Enhanced Shareholder Return Framework

• Pan American Silver Targets Up To 1 Billion In Shareholder Returns In 2026 Through Enhanced Shareholder Return Framework

• Pan American Silver Announces Results Of Annual General And Special Meeting 15

• Pan American Silver To Announce First Quarter 2026 Unaudited Results On May 5 And Host Annual General And Special Meeting Of Shareholders On April 30

• Pan American Silver Announces Renewal Of Normal Course Issuer Bid

• Nutrien Continues Help Build Stronger Communities Saskatchewan

• Bank Of America Merrill Lynch 2018 Global Agriculture And Materials Conference

• Bofa Securities 2022 Global Agriculture And Materials Conference

• 2025 Q2 Earnings Conference Call

// General

• Lithium Exploration And Production

• The Chase For A Lucrative Minerals Deposit Near Saint John Cbc Interview

• Aspen Trailers is looking for a Mining Product Manager for the Sudbury Region

// NOTES FROM THE NORTH

There will be an irregular email from me on Monday inviting you to something I know you’ll find value in. Please give it a read when it arrives.

Have a great weeked all!