Site C dam energy project now fully operational, B.C. Hydro says
The massive energy project has been under construction since 2015, and its first generating unit became operational last October, when power began being supplied to the grid.
At $16 billion, nearly double of its initial price tag, Site C is considered B.C.'s most expensive infrastructure project.
It went ahead despite court cases from First Nations and other groups, some of which decried the impact of flooding land and changing the course of the massive Peace River in northeast B.C.
Site C was initially approved by the then-B.C. Liberal government in 2010, and the project stayed on course after a review by the B.C. NDP government in 2017.
B.C. Hydro estimates the dam will be able to provide 5,100 gigawatt hours of electricity each year, adding eight per cent to the province's total production capacity.
The hydroelectric project draws from an 83-kilometre-long reservoir, which covers an area of about 5,550 hectares of land, 25 times the size of Stanley Park.It was filled in with water starting last August, and Energy Minister Adrian Dix said that "generations of British Columbians" would benefit from the clean electricity generated by the project.
"The commission of Site C's final generating unit is another step forward to securing B.C.'s clean energy future," he said in a statement.
Hazards in area: B.C. Hydro
B.C. Hydro says that, now that the final generating unit is operational, future construction work at Site C will consist of completing the powerhouse and generating station and paving access roads.
The utility estimates it will serve B.C. Hydro customers for the next century, and is now providing enough electricity to power 500,000 homes.
"Work also continues to backfill the tunnels used to divert the Peace River, and revegetate areas no longer required for construction," a statement from B.C. Hydro reads.The utility says that there continue to be a number of hazards in the area around Site C and the surrounding slopes, and it's urging members of the public to stay away for now.
"These potential hazards include floating vegetation debris and the surrounding land and shoreline continuing to stabilize," the statement reads.
"The new B.C. Hydro public boat launches will open when the reservoir is deemed safe, which is expected to be spring 2026 at the earliest."
First Nation opposition
The project was not completed without controversy and opposition.
In 2018, the West Moberly First Nation lost a bid for an injunction order against the project, having argued that the dam would cause irreparable harm to the nation's territory and way of life — rights protected under Treaty 8. The Union of B.C. Indian Chiefs called the ruling a "grave disappointment."
Later, in 2022, the nation came to a partial settlement with B.C. Hydro and the provincial and federal governments.
It included an impact and benefits agreement between, 5,000 acres of provincial Crown land transferred to the First Nation and an agreement to release West Moberly's claims against the Site C project.
At the time, Chief Roland Willson told CBC News he had been reluctant to settle out of court, but his community felt it was out of options.
With the dam now complete, B.C. Hydro has released flyover drone video of the megaproject
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Ravelin Properties REIT Reports Second Quarter 2025 Results
Toronto, Ontario--(Newsfile Corp. - August 11, 2025) - Ravelin Properties REIT (TSX: ("Ravelin" or the "REIT"), an internally managed global owner and operator of well-located commercial real estate, announces financial results for the three and six months ended June 30, 2025. The REIT's unaudited interim financial statements and Management's Discussion and Analysis for the six months ended June 30, 2025 are available under the REIT's issuer profile on SEDAR+ and can also be found on the REIT's website at Highlights The REIT achieved total cost savings of approximately $4.1 million during the six months ended June 30, 2025 from the elimination of management fees and greater focus on overhead expense management. Please see the MD&A for a detailed cost savings analysis on an itemized basis during the six months ended June 30, 2025. Management continues to anticipate that the Internalization will result in annualized run-rate cost savings of approximately $10 million on a full year basis in 2025. Effective June 1, 2025, the REIT internalized property management and property level accounting functions for its Chicago, IL properties. Management anticipates the annualized run-rate costs savings from internalizing the Chicago property management and accounting functions to be in excess of $2.5 million (June 1, 2025 to May 31, 2026). On May 31, 2025, and June 30, 2025, G2S2 Capital Inc. ("G2S2 Capital") and the REIT agreed to capitalize for the months of May and June 2025, respectively, a total of $5.5 million in interest payable to G2S2 Capital under the revolving credit facilities and related mortgages. The accrued interest for May 2025 was capitalized to the principal balance of the revolving credit facilities and the respective mortgages as of May 31, 2025. The accrued interest for June 2025, which was due and payable on July 1, 2025, was capitalized to the debt principal subsequent to June 30, 2025. 163,279 square feet of new leases and renewals were signed in the second quarter of 2025 (inclusive of leases which will commence in future quarters). These deals were completed at a weighted average net rental rate per square foot of $19.73. Excluding cases of leasing vacant space, new leases and renewals were completed at 6.23% above the prior rental rate. Occupancy as at June 30, 2025 was 75.8%, a decrease from 76.7% as at March 31, 2025. 0.4% of the sequential occupancy decrease was a result of the REIT's disposition of a fully occupied property in Ontario in April 2025. The remaining 0.5% is due to the expiration of tenant leases. The REIT's current leasing pipeline exceeds 450,000 square feet of renewals and new leases across its portfolio. In addition, the REIT has more than 139,533 square feet of rent reviews underway in Ireland, whereby the REIT has an opportunity to increase in-place rents to market rent levels during the lease terms. The REIT's liquidity as at June 30, 2025 consisted of unrestricted cash of $17.8 million ($13.6 million at December 31, 2024) and property level restricted cash of $11.0 million ($10.7 million at December 31, 2024), for total liquidity of $28.8 million ($24.3 million at December 31, 2024). On April 1, 2025, the REIT disposed of one property (1189 Colonel Sam Drive in Oshawa, Ontario) for total gross proceeds of $16.5 million. The net cash proceeds from the disposition were fully used to reduce borrowings on the REIT's Canadian revolving credit facility. On a trailing twelve-month basis, the REIT generated $77.8 million of Adjusted EBITDA, resulting in a net debt to Adjusted EBITDA ratio of 13.6x, inclusive of the REIT's convertible debentures, or 11.6x excluding convertible debentures. Management expects these metrics to improve as the full benefit of savings achieved from the termination of the REIT's external management agreement with Slate Management ULC (the "Internalization") in the first two quarters of 2025 will be reflected in the trailing twelve-month Adjusted EBITDA calculation in coming quarters. During the three months ended June 30, 2025, the REIT continued the process with its lenders and restructuring advisors in respect of a potential recapitalization plan. Please refer to the relevant disclosures contained in the unaudited interim financial statements and Management's Discussion and Analysis for the six months ended June 30, 2025. Summary of Q2 2025 Results Three months ended June 30, (thousands of dollars, except per unit amounts)2025 2024 Change % Rental revenue $ 45,161$ 49,567 (8.9) %Net operating income ("NOI") $ 20,366$ 24,719 (17.6) %Net loss $ (10,399 ) $ (150,045 )(93.1) %Weighted average diluted number of trust units (000s)86,190 85,909 0.3 %Funds from operations ("FFO") $ 2,156$ 4,388 (50.9) %FFO per unit $ 0.03$ 0.05 (40.0) %Core-FFO $ 3,187$ 5,334 (40.3) %Core-FFO per unit $ 0.04$ 0.06 (33.3) %Adjusted FFO ("AFFO") $ 2,459$ 4,211 (41.6) %AFFO per unit $ 0.03$ 0.05 (40.0) % June 30, 2025 December 31, 2024 Change % Total assets $ 1,223,244$ 1,229,711 (0.5) %Total debt $ 1,079,012$ 1,090,024 (1.0) %Portfolio occupancy75.8 % 76.8 % (1.0) %Loan-to-value ("LTV") ratio89.0 % 89.4 % (0.4) %Net debt to adjusted EBITDA 113.6x 12.9x 0.7xInterest coverage ratio 11.1x 1.0x 0.1x 1 EBITDA is calculated using trailing twelve month actuals, as defined below. Investor Information The REIT's financial results and supplemental materials have been filed under the REIT's issuer profile on SEDAR+ and are also available on the REIT's website at under the Investors page. For any questions related to the REIT's financial results or ongoing business initiatives, please contact the REIT's investor relations team at ir@ or (647) 792-6060. About Ravelin Properties REIT (TSX: The REIT owns and operates a portfolio of well-located commercial real estate assets in North America and Europe. The majority of the REIT's portfolio is comprised of government and high-quality credit tenants. Visit to learn more. Forward-Looking Statements Certain information herein constitutes "forward-looking information" as defined under Canadian securities laws which reflect management's expectations regarding objectives, plans, goals, strategies, future growth, results of operations, performance, business prospects and opportunities of the REIT. The words "plans", "expects", "does not expect", "scheduled", "estimates", "intends", "anticipates", "does not anticipate", "projects", "believes", or variations of such words and phrases or statements to the effect that certain actions, events or results "may", "will", "could", "would", "might", "occur", "be achieved", or "continue" and similar expressions identify forward-looking statements. Forward-looking statements contained herein include, but are not limited to, statements relating to: the REIT's current leasing pipeline and anticipated future leasing activity; expectations of improved Adjusted EBITDA and related metrics; the anticipated cost savings of the Internalization and greater focus on overhead expense management; the anticipated annualized run-rate costs savings from the internalization of property management and accounting functions for the REIT's Chicago, IL properties; and the ability of the REIT to reach an agreement regarding terms of a potential recapitalization plan. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by management as of the date hereof, are inherently subject to significant business, economic and competitive uncertainties and contingencies. When relying on forward-looking statements to make decisions, the REIT cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties and should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not the times at or by which such performance or results will be achieved. A number of factors could cause actual results to differ, possibly materially, from the results discussed in the forward-looking statements. Additional information about risks and uncertainties is contained in the REIT's Annual Information Form for the year ended December 31, 2024, available under the REIT's issuer profile on SEDAR+ and on the REIT's website at Non-IFRS Measures We disclose a number of financial measures in this news release that are not measures used under IFRS, including NOI, FFO, Core-FFO, AFFO, NAV, adjusted EBITDA, net debt to adjusted EBITDA ratio and interest coverage ratio, in addition to certain measures on a fully-diluted per unit basis. NOI is defined as rental revenue, excluding non-cash straight-line rent and leasing costs amortized to revenue, less property operating costs prior to International Financial Reporting Interpretations Committee 21, Levies ("IFRIC 21") adjustments. Rental revenue for purposes of measuring NOI excludes revenue recorded as a result of determining rent on a straight-line basis and the amortization of leasing costs in revenue for IFRS. Same-property NOI includes those properties owned by the REIT for each of the current period and the relevant comparative period. FFO is defined as net income adjusted for certain items including transaction costs, change in fair value of properties, change in fair value of financial instruments, change in fair value of Class B LP units, deferred income taxes, tax on gains on disposals of investment properties, distributions to Class B unitholders, depreciation and IFRIC 21 property tax adjustments. Core-FFO is defined as FFO adjusted for the REIT's share of lease payments received for a data centre in Winnipeg, Manitoba (the "Data Centre"), which for IFRS purposes is accounted for as a finance lease. AFFO is defined as FFO adjusted for amortization of deferred transaction costs; de-recognition and amortization of mark-to-market ("MTM") adjustments on mortgages refinanced or discharged; adjustments for interest rate subsidies received; recognition of the REIT's share of lease payments received for the Data Centre, which for IFRS purposes, is accounted for as a finance lease; amortization of straight-line rent; and normalized direct leasing and capital costs. FFO per unit, Core-FFO per unit and AFFO per unit are defined as FFO, Core-FFO and AFFO divided by the weighted average diluted number of units outstanding, respectively. NAV is defined as the aggregate of the carrying value of the REIT's equity, Class B LP units, deferred units, and deferred tax liability. Adjusted EBITDA is defined as earnings before interest, income taxes, depreciation, fair value gains (losses) from both financial instruments and investment properties, while also excluding non-recurring items such as transaction costs from dispositions, acquisitions or other events. Net debt to adjusted EBITDA is defined as the aggregate amount of debt outstanding, less cash on hand, divided by the trailing twelve-month adjusted EBITDA. Interest coverage ratio is defined as adjusted EBITDA divided by the REIT's interest expense for the period. We use these measures for a variety of reasons, including measuring performance, managing the business, capital allocation and the assessment of risk. Descriptions of why these non-IFRS measures are useful to investors and how management uses each measure are included in the Management's Discussion and Analysis for the six months ended June 30, 2025, which readers should read when evaluating the measures included herein. We believe that providing these performance measures on a supplemental basis to our IFRS results is helpful to investors in assessing the overall performance of our businesses in a manner similar to management. These financial measures should not be considered as a substitute for similar financial measures calculated in accordance with IFRS. We caution readers that these non-IFRS financial measures may differ from the calculations disclosed by other businesses, and as a result, may not be comparable to similar measures presented by others. For Further InformationInvestor RelationsTel: +1 647 792 6060E-mail: ir@ Calculation and Reconciliation of Non-IFRS Measures The tables below summarize a calculation of non-IFRS measures based on IFRS financial information. The calculation of NOI is as follows: Three months ended June 30,(thousands of dollars, except per unit amounts)2025 2024Revenue $ 45,161$ 49,567Property operating expenses(23,009 )(23,428 ) IFRIC 21 property tax adjustment 1(3,476 )(3,349 ) Straight-line rents and other changes1,690 1,929Net operating income $ 20,366$ 24,719 The reconciliation of net income to FFO, Core-FFO and AFFO is as follows:Three months ended June 30,(thousands of dollars, except per unit amounts)2025 2024Net loss $ (10,399 ) $ (150,045 ) Add (deduct): Leasing costs amortized to revenue2,040 2,318Change in fair value of properties11,695 154,405IFRIC 21 property tax adjustment 1(3,476 )(3,349 ) Change in fair value of financial instruments2,590 2,982Transaction costs712 614Depreciation of hotel asset107 249Deferred income tax expense (recovery)(3 )42Change in fair value of Class B LP units(1,110 )(2,828 ) FFO 2 $ 2,156$ 4,388Finance income on finance lease receivable(599 )(659 ) Finance lease payments received1,630 1,605Core-FFO 2 $ 3,187$ 5,334Amortization of deferred transaction costs1,498 1,553Amortization of debt mark-to-market adjustments(8 )(8 ) Amortization of straight-line rent(350 )(389 ) Normalized direct leasing and capital costs(1,868 )(2,279 ) AFFO 2 $ 2,459$ 4,211 Weighted average number of diluted units outstanding (000s)86,190 85,909FFO per unit 2 $ 0.03$ 0.05Core-FFO per unit 2 $ 0.04$ 0.06AFFO per unit 2 $ 0.03$ 0.05 1 In accordance with IFRIC 21, the REIT recognizes property tax liability and expense on its existing U.S. properties as at January 1 of each year, rather than progressively, i.e., ratably throughout the year. The recognition of property taxes as a result of IFRIC 21 has no impact on NOI, FFO or AFFO.2 Refer to "Non-IFRS measures" section above. The reconciliation of cash flow from operating activities to FFO, Core-FFO and AFFO is as follows: Three months ended June 30,(thousands of dollars)2025 2024Cash flow from operating activities $ 12,390$ 12,290Add (deduct): Leasing costs amortized to revenue2,040 2,318Transaction costs712 614Working capital changes(1,687 )(2,503 ) Straight-line rent and other changes(1,690 )(1,929 ) Interest and finance costs(17,730 )(18,872 ) Interest paid8,121 12,470FFO 1 $ 2,156$ 4,388Finance income on finance lease receivable(599 )(659 ) Finance lease payments received1,630 1,605Core-FFO 1 $ 3,187$ 5,334Amortization of deferred transaction costs1,498 1,553Amortization of debt mark-to-market adjustments(8 )(8 ) Amortization of straight-line rent(350 )(389 ) Normalized direct leasing and capital costs(1,868 )(2,279 ) AFFO 1 $ 2,459$ 4,211 1 Refer to "Non-IFRS measures" section above. The calculation of trailing twelve month adjusted EBITDA is as follows: Twelve months ended June 30,(thousands of dollars)2025 2024Net loss $ (305,498 ) $ (268,706 ) Straight-line rent and other changes6,408 9,965Interest income(319 )(536 ) Interest and finance costs73,472 72,070Change in fair value of properties278,878 265,498IFRIC 21 property tax adjustment 1(259 )(121 ) Change in fair value of financial instruments18,937 15,979Distributions to Class B shareholders- 212Transaction costs2,902 1,132Depreciation of hotel asset712 983Change in fair value of Class B LP units714 (9,329 ) Costs related to the Internalization1,265 -Strategic review costs- 315Deferred income tax recovery(271 )253Current income tax expense838 2,955Adjusted EBITDA 2 3 $ 77,779$ 90,670 1In accordance with IFRIC 21, the REIT recognizes property tax liability and expense on its existing U.S. properties as at January 1 of each year, rather than progressively, i.e., ratably throughout the year. The recognition of property taxes as a result of IFRIC 21 has no impact on NOI, FFO, Core-FFO or AFFO.2Adjusted EBITDA is based on actuals for the twelve months preceding the balance sheet date.3 Refer to "Non-IFRS measures" section above. The calculation of net debt is as follows: (thousands of dollars)June 30,2025 June 30,2024Debt, non-current $ 166,516$ 325,967Debt, current912,496 818,028Debt $ 1,079,012$ 1,143,995Less: cash on hand17,803 10,908Net debt $ 1,061,209$ 1,133,087 The calculation of net debt to adjusted EBITDA is as follows: Twelve months ended June 30,(thousands of dollars)2025 2024Debt $ 1,079,012$ 1,143,995Less: cash on hand17,803 10,908Net debt $ 1,061,209$ 1,133,087Adjusted EBITDA 1 277,779 90,670Net debt to adjusted EBITDA 213.6x 12.5x 1 Adjusted EBITDA is based on actuals for the twelve months preceding the balance sheet date.2 Refer to "Non-IFRS measures" section above. The interest coverage ratio is calculated as follows: Twelve months ended June 30,(thousands of dollars)2025 2024Adjusted EBITDA 1 2 $ 77,779$ 90,670Interest expense 167,747 65,873Interest coverage ratio 21.1x 1.4x 1 Adjusted EBITDA and interest expense are based on actuals for the twelve months preceding the balance sheet date.2 Refer to "Non-IFRS measures" section above. The following is the calculation of IFRS NAV on a total and per unit basis at June 30, 2025 and December 31, 2024: (thousands of dollars, except per unit amounts)June 30,2025 December 31,2024Equity $ 46,351$ 59,810Class B LP units1,850 2,854Deferred unit liability177 193Deferred tax liability- 268IFRS net asset value $ 48,378$ 62,857 Diluted number of units outstanding (000s) 186,351 86,030IFRS net asset value per unit $ 0.56$ 0.73 1 Represents the fully diluted number of units outstanding and includes outstanding REIT units, DUP units and Class B LP units. 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Critical One Announces $2.0 Million Non-Brokered Private Placement
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The Offering is scheduled to close on or about August 18, 2025, and is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals. The proceeds from the Offering will be used by the Company for activities directly relating to activities at the Howells Lake Antimony Gold-Project, primarily for verification drilling, permitting, to further strengthen the Company's balance sheet, to pursue corporate strategies and for general working purposes. Board Changes Critical One's Board of Directors now consists of Duane Parnham, Roger Laine, Shawn Parnham and Chet Idziszek, as Suzanne Wood and Victoria Donato failed to receive sufficient shareholder votes for re-election at the Company's July 21, 2025 annual general meeting. 'On behalf of the Board, I would like to thank Suzanne and Victoria for their years of dedicated service, and we wish them the best,' said Duane Parnham, Founder, Executive Chairman and CEO of Critical One. About Critical One Energy Inc. Critical One Energy Inc. (formerly Madison Metals Inc.) is a forward-focused critical minerals and upstream energy company, powering the future of clean energy and advanced technologies. The addition of the Howells Lake Antimony-Gold Project broadens the Company's exposure to antimony, one of the most in-demand critical minerals. Backed by seasoned management expertise and prime resource assets, Critical One is strategically positioned to meet the rising global demand for critical minerals and metals. Its mine exploration portfolio is led by antimony-gold exploration potential in Canada and uranium investment interests in Namibia, Africa. By leveraging its technical, managerial, and financial expertise, the Company upgrades and creates high-value projects, thereby driving growth and delivering value to its shareholders. Additional information about Critical One Energy Inc. can be found at and on the Company's SEDAR+ profile at For further information, please contact: Duane ParnhamExecutive Chairman & CEOCritical One Energy Inc. +1 (416) 489-0092ir@ Media inquiries: Adam BelloManager, Media & Analyst RelationsPrimoris Group Inc.+1 (416) 489-0092media@ Neither the Canadian Securities Exchange nor CIRO accepts responsibility for the adequacy or accuracy of this release. Forward-looking Statements This news release contains 'forward-looking information' within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as 'may', 'will', 'expect', 'likely', 'should', 'would', 'plan', 'anticipate', 'intend', 'potential', 'proposed', 'estimate', 'believe' or the negative of these terms, or other similar words, expressions, and grammatical variations thereof, or statements that certain events or conditions 'may' or 'will' happen, or by discussions of strategy. Forward-looking information contained in this press release includes, but is not limited to, statements relating to the terms and timing of the private placement described in this press release and the anticipated uses of the proceeds raised from such private placement. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that: the Company will receive all necessary approval required in order to complete the issuance of the securities pursuant to the private placement described in in this press release; and that there will be sufficient interest from potential investors in order to complete the private placement on the terms as described herein or at all. However, forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by such forward-looking statements. Such risks include, but are not limited to, the risk that the Company will not be able to proceed with the issuance of units on the terms described in this press release or at all. Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and are based on the beliefs, estimates, expectations, and opinions of management on such date. The Company does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required under applicable securities law. 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Faraday Copper Reports Second Quarter 2025 Financial Results
VANCOUVER, BC / / August 11, 2025 / Faraday Copper Corp. ("Faraday" or the "Company") (TSX:FDY) announces its financial results for the three and six months ended June 30, 2025. Highlights Year to Date Announced closing of a financing for gross proceeds of $48,773,450 on July 29, 2025. The financing includes a brokered bought deal private placement of 26,139,500 common shares at a price of $1.10 per share, and a non-brokered private placement of 18,200,000 common shares at a price of $1.10 per share. Announced approval from the Bureau of Land Management for the Company's Exploration Plan of Operations for the Copper Creek Project on July 2, 2025. Announced an expansion of the near-surface mineralization in the American Eagle Area and identification of exploration upside at the Sunrise Trend, on June 19, 2025. Reported results from the Company's Annual General Meeting on June 18, 2025. Reported near-surface supergene copper mineralization at the Globe and Copper Prince breccias, including 10.08 metres ("m") at 3.62% copper and 38.90 m at 0.51% copper, on May 15, 2025. Announced discovery of blind Winchester Breccia and expansion of near-surface mineralization in the American Eagle Area and provided a corporate update on May 6, 2025. Reported 56.57 m at 0.59% copper at the Boomerang breccia and 18.49 m at 0.98% copper at the Banjo breccia on March 19, 2025. Reported positive metallurgical results confirming high copper recovery through coarse grind and flotation on February 20, 2025. Reported 47.95 m at 0.74% copper within 304.40 m at 0.35% copper in the American Eagle Area on January 30, 2025. Reported 40.06 m at 0.78% copper within 109.42 m at 0.41% copper at the Boomerang breccia and expanded near-surface mineralization on January 8, 2025. Continued baseline environmental data collection, stakeholder mapping, and generative exploration targeting at the Copper Creek Project to provide a pipeline of future targets through ongoing geological mapping and recently reprocessed and newly acquired geophysical data. Upcoming Copper Creek Project Milestones Updated Mineral Resource Estimate and Preliminary Economic Assessment near the end of the third quarter of 2025. Commencement of a 40,000+ m Phase IV drill program in September 2025. Copper Creek Project Update With extensive historical exploration, over 200,000 m of drilling and modest past production, significant exploration upside remains. There are over 320 known breccia occurrences mapped at the surface, of which less than 15% have been drill tested and only 17 are included in the MRE. In the Phase II drill program, assay results confirmed the potential for gold to occur in economic concentrations in certain phases of the mineralization. Gold is not currently included in the MRE. A sampling program to gather sufficient data coverage for potential gold inclusion in future technical studies is largely complete. The results from the Childs Aldwinkle and Copper Prince breccias, as well as the Keel underground zone, have been returned and released. The Company continues to evaluate other areas for potential inclusion of gold in future mineral resource updates. The Company has reported results from a metallurgical program focused on grind size optimization that demonstrated the viability of coarse particle flotation, gold recoveries in concentrate and test work on near surface oxide mineralization. The Company is focused on exploration at the property, while continuing to advance technical studies, environmental data gathering, and stakeholder outreach. Phase III drilling was completed in mid-April 2025 with 79 drill holes and 30,069 m of drilling. All results from the Phase III drilling have been released. The program's framework was based on historical work, knowledge from the geological and recently updated structural model, the results from the Phase I and Phase II drill programs, geophysical and airborne spectral data sets, and economic criteria defined in the PEA base case. The focus of drilling was on the near-surface mineralization in the American Eagle, Area 51 and Rum areas. The Company has awarded scopes of work to independent consultants to deliver an updated MRE and PEA near the end of the third quarter of 2025. The updated MRE will incorporate drill results from the Phase II and Phase III drill programs, including approximately 40,000 m of additional drilling compared to the current MRE. On June 30, 2025, the Company received approval of its Exploration Plan of Operations ("EPO") by the Bureau of Land Management ("BLM"). The BLM published the final Environmental Assessment, and finding of no significant impact ("FONSI") and issued a related Decision Record approving the EPO. The EPO includes up to 67 drill pads located on Federal land: 48 drill pads in or near the American Eagle area and the southern portion of the Mammoth resource area; 10 drill pads in or near other existing resource areas at Old Reliable, Globe, Copper Prince and Copper Giant; and 9 drill pads that enable reconnaissance drilling on previously untested targets Financial Results Three months ended Six months ended In Canadian dollars June 30, 2025 June 30, 2024 June 30, 2025 June 30, 2024 Exploration and evaluation expenses $ 4,146,179 $ 4,332,148 $ 10,630,687 $ 8,796,358 General and administration $ 585,980 $ 569,467 $ 1,267,652 $ 1,265,009 Share-based compensation $ 462,678 $ 323,042 $ 846,804 $ 592,659 Net Loss $ 5,414,380 $ 5,426,500 $ 13,234,811 $ 10,926,335 Basic and Diluted Loss per Share $ 0.03 $ 0.03 $ 0.06 $ 0.06 Note: The financial information in this table was selected from the Company's condensed interim consolidated financial statements for the three and six months ended June 30, 2025 (the "Financial Statements"), which are available on SEDAR+ at and the Company's website Selected Financial Information In Canadian dollars June 30, 2025 December 31, 2024 Cash and cash equivalents $ 2,393,384 $ 17,003,895 Property and equipment $ 17,224,640 $ 18,037,072 Resource properties $ 4,955,328 $ 4,955,328 Total assets $ 25,034,590 $ 40,578,185 Note: The financial information in this table was selected from the Financial Statements, which are available on SEDAR+ at and the Company's website Cash Flow, Liquidity and Capital Resources The Company is a resource exploration-stage company and does not generate any revenue and has been mainly relying on equity-based financing to fund its operations. As at June 30, 2025, the Company had cash and cash equivalents of $2,393,384 (December 31, 2024 - $17,003,895) and current assets less current liabilities of $683,960 (December 31, 2024 - $13,129,205). During the six months ended June 30, 2025, cash used in operating activities was $14,422,428 (2024 - $10,752,689), cash used in investing activities was $259,507 (2024 - $529,462), and cash provided by financing activities was $35,200 (2024 - $22,138,253). The Company continues to incur operating costs primarily related to exploration and evaluation expenses and no significant investing or financing activities occurred during the six months ended June 30, 2025. The Company will need to raise additional funding to finance its day-to-day operations and to enable the Company to achieve its long-term business objectives. On May 30, 2024, the Company completed an equity-based financing for net proceeds of $22,138,253, which included share issuance costs of $861,747, to fund its operations. On July 29, 2025, the Company completed a private placement financing for gross proceeds of $48,773,450. The financing includes a brokered bought deal private placement involving the issuance of 26,139,500 common shares at a price of $1.10 per share for gross proceeds of $28,753,450, and a non-brokered private placement of 18,200,000 common shares at a price of $1.10 per share for gross proceeds of $20,020,000. The Company intends to use the proceeds from the financing to advance the Copper Creek Project and for general working capital purposes. About Faraday Copper Faraday Copper is an exploration company focused on advancing its flagship copper project in Arizona, U.S. The Copper Creek Project is one of the largest undeveloped copper projects in North America with significant district scale exploration potential. The Company is well-funded to deliver on its key milestones and benefits from a management team and board of directors with senior mining company experience and expertise. Faraday trades on the TSX under the symbol "FDY". For additional information please contact: Stacey Pavlova, CFAVice President, Investor Relations & CommunicationsFaraday Copper Corp.E-mail: info@ Cautionary Note on Forward Looking Statements Some of the statements in this news release, other than statements of historical fact, are "forward-looking statements" and are based on the opinions and estimates of management as of the date such statements are made and are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements of Faraday to be materially different from those expressed or implied by such forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements concerning the future drilling and exploration potential of the Copper Creek property and timing of future technical reports. Although Faraday believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees of future performance and actual results or developments may differ materially. Accordingly, readers should not place undue reliance on forward-looking statements or information. Factors that could cause actual results to differ materially from those in forward-looking statements include without limitation: market prices for metals; the conclusions of detailed feasibility and technical analyses; lower than expected grades and quantities of resources; receipt of regulatory approval; receipt of shareholder approval; mining rates and recovery rates; significant capital requirements; price volatility in the spot and forward markets for commodities; fluctuations in rates of exchange; taxation; controls, regulations and political or economic developments in the countries in which Faraday does or may carry on business; the speculative nature of mineral exploration and development, competition; loss of key employees; rising costs of labour, supplies, fuel and equipment; actual results of current exploration or reclamation activities; accidents; labour disputes; defective title to mineral claims or property or contests over claims to mineral properties; unexpected delays and costs inherent to consulting and accommodating rights of Indigenous peoples and other groups; risks, uncertainties and unanticipated delays associated with obtaining and maintaining necessary licenses, permits and authorizations and complying with permitting requirements, including those associated with the Copper Creek property; and uncertainties with respect to any future acquisitions by Faraday. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental events and hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and the risk of inadequate insurance or inability to obtain insurance to cover these risks as well as "Risk Factors" included in Faraday's disclosure documents filed on and available at This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in any jurisdiction to any person to whom it is unlawful to make such an offer or solicitation in such jurisdiction. This press release is not, and under no circumstances is to be construed as, a prospectus, an offering memorandum, an advertisement or a public offering of securities in Faraday in Canada, the United States or any other jurisdiction. No securities commission or similar authority in Canada or in the United States has reviewed or in any way passed upon this press release, and any representation to the contrary is an offence. SOURCE: Faraday Copper Corp. View the original press release on ACCESS Newswire Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
