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President Donald Trump on Saturday announced Israel has agreed to the ‘initial withdrawal line’ in Gaza, which the U.S. has shared with Hamas.

Pending Hamas confirmation, the agreement will trigger an immediate ceasefire and exchange of Israeli hostages and Palestinian prisoners.

‘After negotiations, Israel has agreed to the initial withdrawal line, which we have shown to, and shared with, Hamas. When Hamas confirms, the Ceasefire will be IMMEDIATELY effective, the Hostages and Prisoner Exchange will begin, and we will create the conditions for the next phase of withdrawal, which will bring us close to the end of this 3,000 YEAR CATASTROPHE,’ Trump wrote in a Truth Social post Saturday. ‘Thank you for your attention to this matter and, STAY TUNED!’

The announcement comes hours after Israeli Prime Minister Benjamin Netanyahu released a statement Saturday morning noting they were ‘on the verge of a very great achievement.’

‘It is not yet final; we are working on it diligently, and I hope, with God’s help, that in the coming days, during the Sukkot holiday, I will be able to inform you about the return of all our hostages, both living and deceased, in one phase, while the IDF remains deep within the Strip and in the controlling areas within it,’ Netanyahu said.

Netanyahu claimed that after intense military and diplomatic pressure, Hamas was pressured into agreeing to Israel’s proposed plan — rejecting the fact that Hamas had previously been ready to release the Israeli hostages without a full withdrawal from Gaza.

In the first stage of the withdrawal plan, he said Hamas will release all Israeli hostages while the IDF redeploys but maintains control over key strategic areas deep inside the Gaza Strip.

Netanyahu will send his negotiating team, headed by Minister Ron Dermer, to Egypt to finalize the technical details of the hostage release, which he expects to conclude within a few days. 

The prime minister emphasized that both Israel and the U.S. intend to prevent any stalling or delay tactics by Hamas. 

In the second stage of the plan, Netanyahu said Hamas will be disarmed and the Gaza strip demilitarized—either through diplomatic means under the Trump Plan or, if necessary, by military force. 

‘I also said this in Washington: Either it will be achieved the easy way, or it will be achieved the hard way—but it will be achieved,’ he said. 

‘Together, we pushed back our enemies’ plans of destruction. From Gaza to Rafah, from Beirut to Damascus, from Yemen to Tehran, together we have achieved great things,’ Netanyahu added. ‘From victory to victory—we are changing the face of the Middle East together. Together we will continue to act to ensure the eternity of Israel.’

Netanyahu thanked Trump for his assistance in dispatching the B2 planes to bomb the nuclear facility in Fordo, and for his ‘steadfast support.’

This post appeared first on FOX NEWS

The gold price continued to move this week, approaching the US$3,900 per ounce level and setting a fresh all-time high on the back of a US government shutdown.

The closure came after Congress failed to reach an agreement on a spending bill ahead of the new American fiscal year, which began on Wednesday (October 1).

Democrats and Republicans are at odds as Democrats push for changes to the bill, including an extension to billions of dollars in Obamacare subsidies; meanwhile, President Donald Trump has threatened thousands of permanent layoffs, not just temporary furloughs.

This shutdown is the 15th since 1981, and according to Senate Majority Leader John Thune, it could continue on until next week as the two sides negotiate. The longest government shutdown happened between 2018 and 2019, during Trump’s first presidency, and lasted for 35 days.

Part of the reason market watchers see this shutdown as significant is that it will delay the release of the latest nonfarm payrolls report, which was set to come out on Friday (October 3).

Depending on how long the shutdown lasts, September consumer price index data, which is scheduled for publication on October 15, may also not be on time.

The US Federal Reserve is due to meet later this month, from October 28 to 29, and normally would use this and other data to help make its decision on interest rates. The central bank cut rates by 25 basis points at its September meeting, and CME Group’s (NASDAQ:CME) FedWatch tool currently shows strong expectations for another 25 basis point reduction at the next gathering.

Although gold took a breather after nearing US$3,900, it remains historically high, with many market watchers suggesting US$4,000 is in the cards in the near term.

In the longer term, some experts have even loftier expectations — for example, Adam Rozencwajg of Goehring & Rozenwajg sees a path to a five-figure gold price.

‘It’s not going to happen under normal circumstances — it’s not going to happen when everything’s going great. But by the end of this cycle, will we get there? I think we probably will,’ he said.

It’s also worth touching on silver, which pushed past the US$48 per ounce mark this week. Unlike gold, silver has not yet broken its all-time high during this bull run — it’s pushing up against uncharted territory, raising questions about how high it can go this time.

On that note, David Morgan of the Morgan Report shared several factors that would tell him the market is reaching a top. Here’s what he said:

‘You want to look at exchange-traded fund flows like the GDX, GDXJ, SIL and SILJ. At the same time, more important than almost anything is trading volume at the stock level. When mid-tier and smaller producers suddenly trade three, four or five times their normal daily volume, and prices are rising, that isn’t random. That’s retail money coming back into the market, and fund buying and probably institutions.

‘One more layer of confirmation is relative to performance. When the mining sector starts to outperform the S&P 500 (INDEXSP:.INX), which it has, and the Nasdaq (INDEXNASDAQ:.IXIC), which it has, it’s a telltale sign that the generalist money, not just the hard money crowd, is beginning to rotate in.’

Bullet briefing — CEO shakeup at Barrick, Newmont

Barrick Mining (TSX:ABX,NYSE:B) and Newmont (NYSE:NEM,ASX:NEM) both announced major executive changes this week, with the CEOs of both companies departing.

Barrick’s Mark Bristow unexpectedly stepped down from his position on Monday (September 29) after nearly seven years at the helm of the firn. His exit, which was effective immediately, comes after big changes at the firm, including a shift toward copper and an asset divestment program designed to hone the company’s focus on tier-one assets.

It also follows persistent issues in Mali, where Barrick lost control of its gold-mining complex and had 3 metric tons of the yellow metal seized by the government.

According to Reuters, Bristow’s handling of that ongoing situation was the final straw that prompted the company’s board to push for a change in leadership.

Newmont announced the retirement of Tom Palmer the same day. He had held the position since 2019, and will be succeeded by the company’s president and COO. Analysts note that Newmont had been signaling that a succession plan was in the works.

Similar to Barrick, the company has been in the midst of an extensive program geared at streamlining its portfolio. Newmont acquired Newcrest Mining in 2023, and in February 2024 announced a program to sell non-core assets. It completed the program in April of this year, but has continued to make portfolio adjustments, and to pursue other cost-saving measures.

Market watchers note that despite efforts to boost efficiency, Barrick and Newmont have both failed to match the performance of their peers during today’s bull market.

Year-on-year share price performance of major gold miners.

Chart via Google Finance.

With gold-mining companies conscious of not repeating missteps made during the precious metal’s last runup, investors will no doubt be keen to see how they perform under new management.

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

This post appeared first on investingnews.com

President Donald Trump has an almost flawless record on the Supreme Court’s emergency docket this year, a streak that has delivered crucial moments of relief to the government as it fights hundreds of lawsuits challenging the president’s agenda.

The Supreme Court has ruled in Trump’s favor on government cuts, nationwide injunctions, immigration policies and more, leading the White House to tout what it recently counted as 21 victories before the high court.

Those victories are, however, temporary. The upcoming term, which begins Monday, will allow the justices to begin weighing the full merits of some of these court disputes and ultimately cement or undo key parts of the Trump agenda.

Jonathan Adler, a William & Mary Law School professor, attributed the interim wins to the Supreme Court’s desire to narrow the judicial branch’s role in policymaking.

Speaking during a Federalist Society panel this week, Adler said the high court’s thinking might be that ‘lower courts are doing too much. We’re going to scale that back because it’s not our place, and it’s for the executive branch and the legislative branch to figure that out.’

The Trump administration has only challenged about one-fifth of the adverse rulings it has received from the lower courts. Adler said Solicitor General John Sauer, who represents the government, is strategically selecting which cases to bring to the high court. 

‘If you go through them, setting Humphrey’s Executor stuff slightly to the side, what they all have in common is that there’s a kind of clear argument that … district courts were a little too aggressive here,’ Adler said.

He acknowledged that some might have a different view, that the Trump administration has been ‘too muscular’ and that court intervention is a necessary check.

The emergency docket, sometimes known as the shadow or interim docket, allows the Trump administration or plaintiffs to ask the Supreme Court to quickly intervene in lawsuits and temporarily pause lower court rulings. The process can take a couple of days, weeks or months, and is viewed as a much speedier, albeit temporary, way to secure court relief than if the high court were to fully consider the merits of a case, which can include a long briefing schedule and oral arguments.

The Supreme Court’s emergency docket this year has been extraordinarily active. Attorney Kannon Shanmugam, who has argued dozens of cases before the high court, said Trump’s high volume of executive actions is partly the reason for that.

‘[An increase in emergency motions] coincides with the rise of executive orders and other forms of unilateral executive action really as the primary form of lawmaking in our country with the disappearance of Congress, and that has posed enormous challenges for the court,’ Shanmugam said.

Through the emergency docket, the Supreme Court has greenlit Trump’s mass firings of career employees and high-profile terminations of Democratic appointees. It has curtailed nationwide injunctions and cleared the way for controversial deportations and immigration stops. The high court has said the government can, for now, withhold billions of dollars in foreign aid and discharge transgender service members from the military.

In other instances, parties on both sides in a court fight have construed Supreme Court outcomes as wins.

In one such order, the Supreme Court said the Trump administration must attempt to return Salvadoran migrant Kilmar Abrego Garcia, whom the government admitted in court to improperly deporting to a Salvadoran prison. But at the same time, the high court noted that district court judges must also be deferential to the executive branch’s authority over foreign policy.

Similarly, the high court said the administration must allow deportees under the Alien Enemies Act a reasonable chance to fight their removal through habeas corpus petitions. The justices have not yet weighed in on the merits of Trump’s invocation of the Alien Enemies Act, one of his most aggressive deportation tactics, which the president employed to swiftly remove alleged Tren de Aragua members.

Conservative lawyer Carrie Severino, president of the legal watchdog JCN, said one criterion the Supreme Court considers when making fast decisions is whether parties are at risk of irreparable harm.

As an example, Severino pointed to the Supreme Court recently allowing Trump to fire Biden-appointed FTC Commissioner Rebecca Slaughter, a case that the high court is now using as a vehicle to revisit in the coming months the 90-year precedent set by Humphrey’s Executor v. United States.

Severino said, ‘If one assumes, ‘Okay, if Trump’s right,’ then this is a serious burden on the government to have a good chunk of their four years being taken up with not being able to actually staff the government as they want to. If Trump’s wrong, then Commissioner Slaughter should have been in that position, and they can remedy that by providing her back pay.’

‘When you’re balancing those types of harms, this is the kind of case where the government’s going to have a leg up,’ Severino said.

In a small defeat for Trump on Wednesday, the Supreme Court declined to allow the president to fire Federal Reserve Governor Lisa Cook and instead said it would hear her case in January. The move was a deviation from the court’s typical posture and underscored its unique view on the Federal Reserve compared with other agencies.

The Supreme Court’s majority has often split along ideological lines and offered little reason for its emergency decisions. This differs from final orders from the court, which can be lengthy and include numerous concurring opinions and dissents.

Attorney Benjamin Mizer, who served as a top DOJ official during the Biden administration, cautioned during the panel that the Supreme Court could reverse its shadow docket positions down the road.

‘As cases reach the court on the merits, we shouldn’t presume that the administration will win them all,’ Mizer said.

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The federal government entered its third day of a shutdown without a clear off-ramp in sight as the Senate gears up to once again vote on a short-term funding extension Friday.

Lawmakers will again vote on the GOP’s continuing resolution (CR) and congressional Democrats’ counter-proposal on Friday. There’s been little movement on Capitol Hill since the last failed vote, given that some either left Washington, D.C., or did not come to the Hill, in observance of Yom Kippur.

In fact, the Senate floor was open for less than three hours on Thursday, with only a handful of lawmakers giving remarks to a mostly empty chamber.

Republicans hope that more Senate Democrats will peel off and vote for their bill, but it’s unlikely. Senate Minority Leader Chuck Schumer, D-N.Y., and most of his caucus are firmly rooted in their position that expiring Obamacare tax credits must be dealt with now.

And Senate Majority Leader John Thune, R-S.D., said he isn’t planning on keeping lawmakers in town over the weekend if the House GOP’s bill fails for a fourth time. Still, bipartisan talks are happening among the rank-and-file members to find some way to reopen the government.

‘I’m glad that people are talking,’ Thune said. ‘I think there are a lot of Democrats who want out of this, you know, grapple that Schumer is running now, so I’m hoping that perhaps that will lead somewhere. But it all starts with what I’ve said before, reopen the government, and I think that’s what we got to have … happen first.’

There are some ideas being tossed back and forth among Senate Republicans and Democrats, like agreeing to work on the subsidies until Nov. 21 under the GOP plan, or compromising on a shorter CR that lasts until Nov. 1 to coincide with the beginning of open-enrollment for Obamacare.

‘We’re not asking for a full repair of a broken system,’ Sen. Elizabeth Warren, D-Mass., said. ‘We understand how badly the healthcare system is working, but it’s going to be so much worse if the Republicans continue on this path of cutting healthcare for millions of Americans.’

Thune threw cold water on the latter idea.

‘Well, and what’s the House going to come back and vote on, a one-month as opposed to seven weeks? I mean, think about this right now. We’re really kind of quibbling over pretty, pretty small stuff,’ he said.

Schumer made clear over the last several days that he wants bipartisan negotiations to craft a funding extension with Democratic and Republican input, but the GOP argues that their bill, which is backed by President Donald Trump, would unlock future bipartisan negotiations on spending bills.

But Republicans argue that his insistence on negotiating is more about political optics than actually finding a path out of the shutdown.

‘This Democrat shutdown is nothing but a cynical political shutdown, with Senator Schumer kowtowing to his radical left-wing extremists,’ Sen. Roger Marshall, R-Kan., said on the Senate floor. ‘He’s desperately recoiling, fighting to stave off a primary and to save his party from the piranhas in their own midst.’

And while talks at the lower level are ongoing, some contend that ultimately it will be Trump’s decision on what happens next.

Sen. Amy Klobuchar, D-Minn., said on the Senate floor, ‘Unfortunately, right now, our Republican colleagues are not working with us to find a bipartisan agreement to prevent the government shutdown and address the healthcare crisis.’

‘We know that even when they float ideas, which we surely do appreciate, in the end, the president appears to make the call,’ Klobuchar said. 

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Feeling the weight of the Trump Administration’s tariff policy, Switzerland’s government is offering to encourage Swiss gold refiners to invest in the US gold refining industry.

The Swiss are suffering under one of the highest Trump tariff rates globally. In effect since August 7, 2025, US officials say the 39 percent tariff on Swiss imports is necessary to address an estimated US$48 billion trade deficit.

The tariff targets many of the European nation’s most iconic industries, such as chocolate, luxury watches, coffee machines and even gold.

Back in late July, the US Customs and Border Patrol posted a ruling indicating that the tariffs on Swiss imports would include 1 kilogram and 100 ounce gold bars. Spot gold prices subsequently surged by more than 3 percent, from US$3,290 to US$3,398, and December futures reached an all-time high of US$3,549 per ounce of the metal.

In response, traders halted imports of Swiss gold bars. However, in September, Trump issued an exemption for gold bullion products.

Switzerland’s economic ministry, known as the State Secretariat for Economic Affairs (SECO), is concerned the tariff’s could weaken the country’s economic growth outlook. ‘An updated economic scenario from SECO shows that, as a result of higher US import tariffs, the Swiss economy is likely to grow more slowly than previously expected, particularly in 2026,’ the ministry stated.

Swiss make a golden offer to lower tariff rates

This week, Bloomberg is reporting that Swiss officials are getting creative when it comes to tempting Trump into lowering tariff rates. Switzerland is home to the world’s largest gold refining hub, and is a central part of the circular gold trade that flows through London and New York.

One of the proposals for getting a tariff break involves incentivizing Swiss refiners to produce the 1 kilogram gold bullion bars for the New York market on site in the US. Currently the larger gold bars favored in London are melted down and shipped to Switzerland for refining and then the newly made smaller bars are shipped to New York.

Christoph Wild, president of the Swiss Association of Precious Metals Producers and Traders, told Bloomberg this change would go a long way in addressing current inefficiencies. Swiss refiners are considering such investments in the “mid-term to long-term”, according to Wild.

Ideally, it would involve expanding current operations and ensuring there’s enough US demand to make that a viable prospect for Swiss refiners. However, he acknowledged that this might not be feasible without “some subsidies from the Swiss government or the US government”.

For those Swiss refiners without existing facilities in the US, such as Switzerland’s largest gold refiner, Valcambi SA, investing in new operations from the ground up might not be a sound business decision.

The Swiss government representatives’ proposal was a part of a larger set of concessions that included energy, agriculture and financial services.

The negotiations with US US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer are ongoing and the Trump Administration has yet to respond to questions about the Swiss delegation’s offer.

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

This post appeared first on investingnews.com

YouTube said Monday it would settle a lawsuit brought by President Donald Trump for more than $24 million, adding to a growing list of settlements with tech and media companies that have amassed millions of dollars for Trump’s projects.

Trump sued after his YouTube account was banned in 2021. After the Jan. 6 riot, YouTube said content posted to Trump’s channel raised “concerns about the ongoing potential for violence.” His account was reinstated in 2023.

Monday’s settlement makes YouTube the last major tech platform to settle a lawsuit with Trump, who similarly sued Meta and Twitter for banning his accounts in the aftermath of Jan. 6. Meta, the owner of Facebook and Instagram, settled for $25 million, while Twitter, since renamed X, settled for about $10 million.

A notice of settlement for Trump’s lawsuit against YouTube details that $22 million of it will go toward building a new White House ballroom. Trump has touted that the addition will have room for 900 people, and the White House has said it could cost $200 million to build.

Other plaintiffs that joined Trump’s suit, such as the American Conservative Union and a number of other people, will get $2.5 million of the settlement.

In addition to tech companies, many major media outlets have settled lawsuits with Trump over the past year.

In July, Paramount Global settled with him for $16 million after he took issue with a “60 Minutes” interview with Kamala Harris that aired on CBS.

In December, Disney settled with Trump over a lawsuit in which he accused ABC and anchor George Stephanopoulos of defamation in an interview with Rep. Nancy Mace, R-S.C. Disney paid Trump’s future presidential library $15 million as part of the settlement.

Disney came under pressure from the administration again when it recently suspended “Jimmy Kimmel Live!” for nearly a week after two major station owners threatened to stop airing the show. One of the station owners, Nexstar, is seeking clearance from Trump’s Federal Communications Commission chairman for a $6.2 billion merger.

The other station owner, Sinclair, is reportedly considering a merger, which the FCC would also need to approve.

Trump is also suing The Wall Street Journal over its reporting about his friendship with Jeffrey Epstein, and he recently sued The New York Times for $15 billion. A judge struck down that lawsuit, though Trump could refile it.

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Senate Democrats appear ready for the long haul as the government shutdown continues and are putting the onus of reopening the government on Republicans.

The Senate was out Thursday to observe the Jewish holiday Yom Kippur and is expected to return to action Friday to again vote on the dueling proposals to reopen the government. Though three Democratic caucus members have voted for the GOP’s plan, an end to the shutdown still seems a ways out.

Senate Democrats, led by Senate Minority Leader Chuck Schumer, D-N.Y., have largely unified around the push for expiring Obamacare tax credits that they say must be dealt with now rather than at the end of the year when they are set to end.

Republicans argue that any negotiations for the expiring subsidies can happen once the government reopens.

‘Democrats know we need to reopen the government, and they know that they’re appropriately getting blamed for shutting it down, and we’re going to continue to bring up the continuing resolution,’ Senate Majority Whip John Barrasso, R-Wyo., said. ‘There’s things they want to negotiate, and we can do that once the government is open.’

The White House, particularly Office of Management and Budget (OMB) Director Russ Vought, and President Donald Trump have ramped up pressure on Senate Democrats, too, with targeted spending cuts to blue states and threats of mass firings of federal workers.

But Vought’s targeted cuts likely do not help Democrats move closer to supporting the GOP’s continuing resolution (CR).

‘Russ Vought is a menace whether the government is open or closed. He wakes up figuring, ‘What damage can I do today?’ That’s what he does,’ Sen. Peter Welch, D-Vt., said. ‘So, the status of government [being] open or closed, it’s not relevant to Russell Vought. He just goes on his rampage every day.’

Senate Democratic leadership also appears unwilling to cave this early into a shutdown as Republicans plan to continue bringing their short-term extension to the floor. Senate Minority Whip Dick Durbin, D-Ill., said that he planned to continue to vote down the GOP’s plan.

‘How long can Republicans explain to the American people that they want to do nothing to help pay for health insurance?,’ he asked.

When asked if he was concerned by Vought targeting projects in blue states, Durbin said, ‘Sadly, it’s a consistent pattern.’

Sen. Chris Murphy, D-Conn., charged that Trump didn’t have ‘superpowers during a shutdown’ to fire federal workers and slash additional funding.

‘The news today is that the president is deciding to act illegally and shut down funding for Democratic states and keep money flowing for Republican states,’ Murphy said. ‘This is not a functioning democracy if the president seizes spending power in order to reward his friends and punish his enemies.’

Murphy said Democrats would not ‘get run over’ during the shutdown, and that the government would reopen when the GOP gets ‘serious about talking to Democrats.’

Early negotiations on a path forward materialized on the Senate floor on Wednesday, but no real deal came from those talks. Instead, Republicans and Democrats in the impromptu meeting said that they left with a better understanding of either side’s desires.

Sen. Gary Peters, D-Mich., previously voted with Schumer in March to keep the government open. The retiring senator was also one of the nearly dozen lawmakers in a bipartisan huddle on the Senate floor that sparked early negotiations on the expiring credits.

Peters said that it was ‘premature’ to say there was a deal or plan locked in after those talks, but he warned that deeper issues were still at play for congressional Democrats when it came to dealing with the GOP and White House.

‘There are all sorts of trust issues, both in the Senate and the House, so we have to work through all of that,’ he said.

And Sen. Catherine Cortez Masto, D-Nev., was one of just three Democratic caucus members who have now voted twice with Republicans on their CR. While she supported reopening the government, she still blamed Republicans for ignoring the Obamacare tax credits.

‘[Republicans] created this crisis … and they need to address it,’ she said. ‘They have no moral standing, no moral standing to stand back and say that this is all on the Democrats. They are in control, they created this crisis. People are suffering.’

When asked if she trusted Republicans in negotiations, Cortez Masto countered, ‘You tell me.’

‘They’re already entrenched in their positions, unfortunately, and not thinking about the American public,’ she said. 

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A judicial consensus is forming against climate lawfare, but the U.S. Supreme Court must still end environmental extortion of American energy. In two landmark cases, the court will soon have the opportunity to reassert the federal government’s authority over questions of national energy and environmental policy. 

Environmental groups believe that energy use increases global temperatures, causes sea levels to rise and creates more destructive weather. Their campaign to curtail energy has taken many forms — including asking the Environmental Protection Agency (EPA) to block pipelines and the Interior Department to deny oil and gas leases — but it met a roadblock with the 2024 election and the Trump administration’s subsequent blizzard of executive orders lifting overregulation.  

Rather than pursue their interests in Congress or before the electorate, environmental extremists have now allied with bankrupt cities and trial lawyers to use the courts to shake down the energy industry. Blue cities and states have filed tort suits in state courts to extract money for allegedly causing weather-related costs in their jurisdictions. 

The Supreme Court will soon decide whether to take up one of those cases, Boulder County v. Suncor Energy, following a ruling this year from the Colorado Supreme Court that allowed the county’s case to move forward in state court. Borrowing theories of liability from tobacco and opioid litigation, Boulder alleges that energy companies sold their products without disclosing climate risks. Such claims plainly intrude on federal authority over interstate pollution. 

Other climate cases are still progressing in lower state courts. In Hawaii, summary judgment motions are pending in a case seeking damages for rising sea levels. Hawaii’s highest court allowed this litigation to move forward in 2023 with Justice Todd Eddins issuing a remarkable concurrence, declaring that litigation would proceed under the ‘Aloha Spirit,’ regardless of federal precedent.  

In Rhode Island, the state judge presiding over a similar lawsuit against the energy industry compared it to developing nations devastated by natural disasters, citing Kenya, Tanzania and the Seychelles. The suggestion that Rhode Island has suffered comparable ‘severe destruction’ is telling: judges are inflating rhetoric to justify climate claims, not grounding them in law.  

Meanwhile, other states are effectively trying to replace federal authority over environmental policy. In Louisiana, plaintiffs obtained a $750 million judgment (potentially over $1 billion with interest) against Chevron for coastal erosion that they claimed was caused by oil extraction during World War II. Those companies had been under federal contracts to supply aviation fuel for the war effort. Yet eight decades later, Louisiana claims it can punish those practices retroactively. 

The energy firms sought to move the case to federal court because of its genesis in work for the federal government. But a divided 5th U.S. Circuit Court of Appeals panel refused to allow it. As Judge Andrew Oldham rightly noted in dissent, crude oil extraction plainly ‘relates to’ war production. If states can sue private businesses for their wartime work generations later, future cooperation with the federal government will be chilled, raising the costs of national defense. This coming term, the Supreme Court will review the Fifth Circuit’s decision. 

Despite some disappointing rulings from activist judges, a growing number of state courts are beginning to resist such frivolous claims. A Maryland judge rejected Baltimore’s lawsuit that alleged fossil fuels caused sea rises that have harmed the city; the Maryland Supreme Court will hear the appeal later in October. A South Carolina court dismissed Charleston’s similar claims, which blue city officials will almost certainly appeal as well. Likewise, nearly identical state and municipal lawsuits have been similarly dismissed in Pennsylvania, New York, Delaware and New Jersey. 

Notwithstanding some recent wins, climate lawfare is like Hydra — new cases are constantly being brought. Even if higher courts ultimately overturn them, simply forcing the industry to defend against these suits imposes enormous litigation costs. That alone is a victory for environmental radicals. At this stage, the Supreme Court must act to reaffirm federal authority over national energy and environmental policy.  

If climate change is producing harmful effects nationwide, then the nation should decide how to address it. As the U.S. Court of Appeals ruled in a 2021 case rejecting New York City’s lawsuit against Chevron, ‘the question before us is whether a nuisance suit seeking to recover damages for the harms caused by global greenhouse gas emissions may proceed under New York law. Our answer is simple: no.’ However, they frame their aims, blue cities and states are trying to set nationwide climate policy through litigation — violating federal law and tort principles. 

As the country decides how to respond to climate change, those choices — including the possibility of not acting — must have nationwide legitimacy. Courts cannot allow a handful of blue jurisdictions, aided by trial lawyers and environmental activists, to dictate those decisions for the rest of America. 

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The Red Mountain Deposit Remains Open to Expansion in Multiple Directions with Assays Pending

Silver47 Exploration Corp. (TSXV: AGA,OTC:AAGAF) (OTCQB: AAGAF) (‘Silver47’ or the ‘Company’) is pleased to announce the completion of its summer 2025 drill program at its wholly-owned Red Mountain Project in south-central Alaska.

Highlights:

  • Significant Mineralization Intersected: Completed eight holes at Dry Creek and seven holes at West Tundra Flats, intersecting massive, semi-massive, and disseminated sulfides in step-out and infill drilling, with assays pending (see Figure 2-5 of core photos below).
  • Establishing a Strong Alaskan High-Grade Resource Base: The 2025 program targeted untested areas near historical high-grade intercepts to enhance Red Mountain’s inferred 168.6 million silver equivalent ounce resource (336 g/t AgEq*) at Dry Creek and West Tundra Flats.
  • Red Mountain Deposit Open to Expansion: Both the Dry Creek and West Tundra Flats zones remain open to expansion in multiple directions and the Company is completing detailed geological modelling to guide vectoring towards additional mineralization in 2026.
  • Multiple Untested Targets: There are at least 35 mineralized prospects across the Red Mountain Project covering a 55 km trend many of which are undrilled or represent preliminary drilled discoveries.
  • High-Value Critical Minerals: An ongoing metallurgical study is evaluating Red Mountain’s potentially significant concentrations of antimony and gallium, critical for U.S. defense, where current supply chains are at risk from foreign dominance.
  • Fully Capitalized: The Company is fully funded with approximately $27 million in working capital to deploy towards aggressive growth-oriented drilling on our American silver projects.

Galen McNamara, CEO, stated: ‘The 2025 Red Mountain drill program has intersected massive sulfides in multiple holes. With assays pending, we now look forward to drilling at Mogollon in Q4 of this year and Hughes in early 2026. Fully funded with $27 million, we’re positioned to accelerate resource growth on our silver and critical mineral projects to deliver value from America’s next generation of strategic mineral assets.’

Highlights from Previous Drilling (see news releases dated November 21 and 26, 2024 and February 12, 2025):

  • DC24-104: 15.24 m grading 546 g/t AgEq* plus 290 g/t antimony (‘Sb’) and 32 g/t gallium (‘Ga’) from 14.3 m depth (AgEq: 106 g/t silver, 0.45 g/t gold, 6.4% zinc, 2.2% lead, and 0.19% copper)
  • DC24-105: 22.32 m grading 601 g/t AgEq plus 503 g/t Sb and 54 g/t Ga from 18.9 m (AgEq: 150.6 g/t silver, 0.82 g/t gold, 5.9% zinc, 2.6% lead, and 0.13% copper)
  • WT24-33: 2.90 m grading 1,079 g/t AgEq plus 920 g/t Sb and 15 g/t Ga from 121.70 m depth
    (AgEq: 418 g/t silver, 0.74 g/t gold, 9.1% zinc, 4.7% lead, 0.105% copper)
  • DC18-77: 4.26 m grading 2,003 g/t AgEq plus 4,432 g/t Sb and 97 g/t Ga 168.8 m depth
    (AgEq: 1,435 g/t silver, 2.2 g/t gold, 4.8% zinc, 2.3% lead, 0.5% copper)

*Notes: g/t=grams per tonne; AgEq=silver equivalent; ZnEq=zinc equivalent; m=metres; Ag=silver; ‎Au=gold; Cu=copper; Zn=zinc; Pb=lead; 1ppm=1 g/t. Equivalencies are calculated using ratios with metal prices of US$2,750/tonne Zn, US$2,100/tonne Pb, US$8,880/tonne Cu, US$1,850/oz Au, and US$23/oz Ag and metal recoveries are based on metallurgical work returned of 90% Zn, 75% Pb, 70% Cu, 70% Ag, and 80% Au. Silver Equivalent (AgEq g/t) = [Zn (%) x 47.81] + [Pb (%) x 30.43] + [Cu (%) x 119] + [Ag (g/t) x 1] + [Au (g/t) x 91.93]

Figure 1. Plan Map of Red Mountain Project showing over 35 targets highlighting the Dry Creek and West Tundra Flats target.

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Figure 2: (see attached figure). Mineralized core from drill hole DC25-110 at the Dry Creek deposit showing disseminated, semi-massive and massive sulfide mineralization featuring pyrite, chalcopyrite, sphalerite and galena (148.5 to 170.9m downhole). Photo is not intended to be representative of broader mineralization.

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Figure 3: (see attached figure). Mineralized core from drill hole DC25-112 at the Dry Creek deposit showing disseminated, semi-massive and massive sulfide mineralization featuring pyrite, chalcopyrite, sphalerite and galena (228.55 to 245.55m downhole). Photo is not intended to be representative of broader mineralization.

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Figure 4: (see attached figure). Mineralized core from drill hole DC25-113 at the Dry Creek deposit showing disseminated, semi-massive and massive sulfide mineralization featuring pyrite, sphalerite and chalcopyrite (222.9 to 240.05m downhole). Photo is not intended to be representative of broader mineralization.

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Figure 5: (see attached figure). Mineralized core from drill hole WTF-38 at the West Tundra Flats Deposit showing disseminated, semi-massive and massive sulfides consisting of pyrite, sphalerite, galena and chalcopyrite (172.65 to 180.5m downhole). Photo is not intended to be representative of broader mineralization.

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Drill Program

The 2025 Red Mountain drill program consisted of fifteen drill holes – eight holes at the Dry Creek target (Figure 1) and seven holes were completed at the West Tundra Flats target (Figure 1). The Dry Creek and West Tundra Flat targets together account for an inferred resource of 15.6 Mt at 336 g/t AgEq* for 168.6 million silver equivalent ounces.

Drilling at both targets consisted of a series of infill and step-out holes designed to test areas near historical high-grade drill intercepts and modelled domains where the structural controls on high-grade mineralization were not fully resolved. Multiple holes at each target intersected mineralized zones consisting of variable proportions of massive, semi-massive, and disseminated sulfides (Figures 2, 3, 4, and 5). Assays are pending from all holes drilled.

Based on observations from drilling together with results from ongoing geological modelling, multiple mineralized lenses and domains at Dry Creek and West Tundra Flats targets remain open along strike and down-dip. The company will integrate all new assay data with the geological modelling to guide vectoring towards additional VMS-related, high-grade mineralization in 2026.

Quality Assurance and Quality Control

Quality assurance and quality control (QAQC) protocols for drill core sampling at the Red Mountain Project followed industry standard practices. Core samples were typically taken at 1.0 m intervals in mineralized zones, and 3.0 m intervals outside of mineralized zones. Sample lengths were adjusted as necessary so as not to cross lithologic and mineralogic boundaries. QAQC check samples were inserted into the sample stream with one blank, one duplicate (coarse), and one certified reference material (CRM) occurring within every 20 samples. Drill core was cut in half, bagged, sealed and delivered directly to ALS Minerals Fairbanks, Alaska for transport to the ALS Minerals Laboratories labs in North Vancouver, British Columbia. ALS Minerals Laboratories are registered to ISO 9001:2008 and ISO 17025 accreditations for laboratory procedures. Core samples were analyzed at ALS Laboratory facilities in North Vancouver using four-acid digestion with an ICP-MS finish. Gold analysis was by fire assay with atomic absorption finish, or gravimetric finish for over-limit samples. Over-limits for silver, zinc, copper, and lead were analyzed using Ore Grade four-acid digestion. The standards, certified reference materials, were acquired from CDN Resource Laboratories Ltd. of Langley, British Columbia and selected to represent expected mineralization.

Corporate Update

Further to its news releases dated September 16, 2025, with respect to the closing of a brokered private placement of units for gross proceeds of $23,000,460 (the ‘Offering‘), the Company wishes to clarify that out of the aggregated advisory warrants of 256,204 and advisory fee of $179,342.80 plus tax, the Company issued 142,860 advisory warrants to Golden Capital Consulting Ltd. and paid a cash fee of $100,002 plus tax to Gold Funnel Consulting & Investing Inc. in connection with the Offering.

Qualified Person

The technical content of this news release has been reviewed and approved by Galen McNamara, P. Geo., the CEO of the Company and a qualified person as defined by National Instrument 43-101.

About Silver47 Exploration

Silver47 Exploration Corp is a mineral exploration company, focused on uncovering and developing silver-rich deposits in North America. The Company is creating a leading high-grade US-focused silver developer with a resource totaling 236 Moz AgEq at 334 g/t AgEq inferred and 10 Moz at 333 g/t AgEq indicated. With operations in Alaska, Nevada and New Mexico, Silver47 Exploration is anchored in America’s most prolific mining jurisdictions. For detailed information regarding the resource estimates, assumptions, and technical reports, please refer to the NI 43-101 Technical Report and other filings available on SEDAR at www.sedarplus.ca. The Company trades on the TSXV under the ticker symbol AGA and OTCQB under the ticker symbol AAGAF.

For more information about the Company, please visit www.silver47.ca and see the Technical Report filed on SEDAR+ (www.sedarplus.ca) and titled ‘Technical Report on the Red Mountain VMS Property Bonnifield Mining District, Alaska, USA with an effective date January 12, 2024, and prepared by APEX Geoscience Ltd.’

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    On Behalf of the Board of Directors

    Mr. Galen McNamara
    CEO & Director

    For investor relations
    Giordy Belfiore
    604-288-8004
    gbelfiore@silver47.ca

    No securities regulatory authority has either approved or disapproved of the contents of this release. 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 release.

    FORWARD-LOOKING STATEMENTS

    Certain statements contained in this news release constitute forward-looking statements or forward-looking information under applicable securities laws (collectively, ‘forward-looking statements’). Such statements relate to future events or the Company’s future plans, performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘intend’, ‘plan’, ‘potential’, ‘could’, ‘may’, ‘will’ and similar expressions) are not statements of historical fact and may be forward-looking statements.

    Forward-looking statements in this news release include, but are not limited to: the interpretation of exploration results; the significance of drill results; the potential for additional mineralization; the timing and success of future exploration activities, including drilling and sampling; the ability to expand or upgrade mineral resources through further exploration; the potential for future economic studies on the project; and the Company’s plans and objectives in advancing its exploration properties.

    These forward-looking statements are based on a number of assumptions considered reasonable by management as of the date of this news release, including assumptions regarding: the accuracy of geological interpretations; continuity of mineralization; the Company’s ability to obtain necessary permits and approvals; availability of financing and personnel to carry out planned programs; future commodity prices; and general business and economic conditions.

    Forward-looking statements are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied. Such risks include, but are not limited to: risks inherent in mineral exploration, including unexpected results or outcomes; delays or inability to obtain required permits and approvals; availability and cost of financing, labour and equipment; changes in commodity prices and foreign exchange rates; political, regulatory and environmental risks in the jurisdictions where the Company operates; community or social risks; and other risks described in the Company’s continuous disclosure documents filed at www.sedarplus.com.

    Although the Company believes the expectations expressed in such forward-looking statements are reasonable, no assurance can be given that these expectations will prove to be correct and such statements should not be unduly relied upon. Forward-looking statements speak only as of the date of this news release. The Company does not undertake any obligation to update or revise any forward-looking statements, except as required by applicable securities laws. Actual results may differ materially from those expressed or implied in forward-looking statements

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