EDM outlines 2025 results, 2026 Scotia mine plans

Executive Summary

• EDM Resources Inc. announced the completion of all major 2025 milestones and outlined its strategic roadmap for 2026, focusing on advancing the Scotia mine toward a production decision.
• The company highlighted significant commercial and financing achievements in 2025, including a $58 million U.S. gypsum offtake agreement, a silver royalty transaction, and a $1.0 million private placement.
• Key technical progress includes a positive dense media separation (DMS) study and the confirmation of high-grade gold in lead and zinc concentrates, while permitting efforts are nearing the submission of the Fisheries Act Authorization (FAA) application.

Key Details

• 2025 Commercial & Financing Achievements:
  • Executed a $58-million (U.S.) gypsum offtake agreement, which included a $250,000 (U.S.) prepayment to establish a long-term revenue foundation.
  • Completed a silver royalty transaction providing 7,000 ounces of silver per year, secured with a $1.0-million (U.S.) prepayment through a combination of cash and equity.
  • Successfully closed a fully subscribed $1.0-million private placement to strengthen the balance sheet.
• Technical & Metallurgical Progress:
  • Completed a positive dense media separation (DMS) study, demonstrating potential for improved mill feed grades and enhanced operating economics.
  • Confirmed the presence of high-grade gold in both lead and zinc concentrate assays, highlighting additional byproduct value potential.
• Permitting & Site Advancement:
  • Completed fieldwork and technical studies required to support the Fisheries Act Authorization (FAA) application for the Scotia mine.
  • Continued engagement with First Nations, regulators, and the community to support a streamlined permitting process.
• 2026 Milestones & Strategic Plan:
  • Permitting: Submission of the Fisheries Act Authorization application to the Department of Fisheries and Oceans and receipt of the authorization subject to regulatory review.
  • Project Development: Finalization of updated project finance structures incorporating revised capital and operating assumptions; completion of updated zinc and lead offtake and concentrate marketing agreements; advancement of DMS integration planning within the Scotia mine processing flow sheet.
  • Exploration: Commencement of gold exploration activities at the Scotia mine targeting near-term value enhancement; potential update of the 2021 National Instrument 43-101 mineral resources estimate to include additional mineral resources.
  • Production Pathway: Completion of an updated NI 43-101 prefeasibility study, updated project costings, and improvements in commodity prices and reductions in smelter treatment charges; formal production decision announcement following permitting and financing milestones; commencement of initial operations at the Scotia mine.

Notable Quotes

• "EDM delivered on all of its major planned milestones in 2025 while also completing the technical and environmental work required to advance the Scotia mine toward production. With the Fisheries Act Authorization application now imminent, we believe 2026 will represent a transformational year for the company as we move from project advancement to disciplined execution, financing and initial operations." — Mark Haywood, President and CEO