NORTHCLIFF ANNOUNCES SISSON PROJECT ON CANADA'S NATION BUILDING PROJECTS LIST

On November 13, 2025, Northcliff announced that its Sisson Tungsten-Molybdenum Project in New Brunswick has been included in Canada's Nation Building Projects list. Consequently, the project has been referred to Canada's Major Projects Management Office. This referral is intended to provide both regulatory and financial assistance to help advance the Sisson Project toward a construction decision. The CEO, Andrew Ing, stated that this reinforces the company's goal to become a reliable domestic producer of critical minerals, supporting North American supply chains for technology, clean energy, and aerospace.

This news is a significant de-risking event and a powerful political endorsement, though it does not introduce new funding at this stage. It follows a series of transformative developments for Northcliff in 2025.

• Progression of Events:

  • May 1, 2025: The company announced it was set to receive US$15 million (~C$20.7M) in non-dilutive funding from the U.S. Department of Defense and a conditional C$8.2M from the Canadian government. This was the pivotal event that brought the project back into focus.
  • June 26, 2025: Northcliff initiated the crucial update to its 2013 Feasibility Study (FS), engaging Ausenco Engineering.
  • August 7, 2025: The Canadian government's C$8.21M in funding was formally confirmed.
  • September 12, 2025: The company secured a C$3.5M bridge loan from its majority shareholder, Todd Corp., highlighting a near-term cash crunch but also Todd's commitment to bridging the company to the drawdown of government funds. Financials from July 31 showed only ~$507k in cash, confirming the need for this loan.
  • November 13, 2025: The inclusion in the Nation Building Projects list serves as the capstone to these government support initiatives.

• Material Impact: The designation as a "Nation Building Project" provides a clear signal of high-level government support. While the exact benefits are not yet quantified, assistance from the Major Projects Office could streamline permitting modifications, facilitate stakeholder consultations, and potentially open doors to further government financial support or loan guarantees for the eventual construction financing. This builds directly on the nearly C$30 million in grants already secured and makes the path to a construction decision clearer and less risky.

• Market Reaction: The stock price surged from C$0.20 to C$0.58 on massive volume on November 12, the day before this news was released. This suggests a leak or strong anticipation of positive news. The announcement validates the market's sudden optimism. The news is in line with the positive trajectory established by the government funding announcements earlier in the year and materially enhances the project's profile.

Northcliff Resources Ltd. is a Canadian-based resource company focused on advancing its flagship asset, the Sisson Tungsten-Molybdenum Project, located in New Brunswick, Canada. The company holds an 88.5% interest in the project. The Sisson Project is a large, open-pit mining project that is fully permitted based on a 2013 Feasibility Study. With tungsten being a critical mineral with a supply chain dominated by China, Sisson represents one of the most significant undeveloped tungsten reserves in the Western world, positioning it as a strategically important asset for North American supply chain security.