3L Capital

Innovative & Progressive Boutique Investment Bank on a mission to connect Investors with Value-Driven Companies & Leaders

[3L Capital @3L_Capital]

3L Capital is pleased to announce the successful closing of @TectonicMetals C$92 million upsized private placement, including the full exercise of the over-allotment option.

As Lead Left Agent on the financing, we are proud to have structured and led the brokered portion of this transaction.

Raising capital at this scale for a pre-resource junior exploration company is uncommon. It reflects meaningful institutional conviction in the Flat Gold Project in Alaska and in management’s ability to execute with discipline.

Transactions of this magnitude at the exploration stage signal more than funding, they represent alignment between geology, strategy, and long-term risk capital.

Congratulations to Tony Reda and the Tectonic team on reaching this important milestone.

Full press release here: https://t.co/qSZOZq1ql6

[3L Capital @3L_Capital]

NEWS > We are initiating coverage on @SurgeBattery (TSXV: NILI | OTCQX: NILIF), which is advancing one of the most strategic undeveloped Lithium Assets in the USA: The Nevada North Lithium Project.

Highlights include:
• 13.6 Mt LCE total resource
• 10.5 Mt LCE M&I @ 3,007 ppm Li
• High-grade core of 6.7 Mt LCE @ 3,820 ppm Li
• 2025 PEA: US$9.2B NPV8% at US$24,000/t LCE
• 86 ktpa LCE avg. production over 42-year LOM
• PFS + initial reserves targeted by year-end 2026

Upcoming catalysts include a Q4 2026 PFS, permitting and engineering advancement, and a Nasdaq listing targeted for H2 2026.

To access our initiation report on Surge Battery Metals, and our other research, sign up here: https://t.co/9Cm4QvLby3

$NILI.V $NILIF #NILI #Lithium #CriticalMinerals #BatteryMetals #Mining

[3L Capital @3L_Capital]

NEWS > @LibertyGoldCorp outlines its 2026 drill program at the Black Pine Oxide Gold Project in Idaho, focused on early production confidence and project execution readiness.

Highlights include:
• 40,000m approved RC drill program
• Additional 10,000m contingent on results
• Infill drilling targeting Measured resource upgrades in first 2–3 years of mine plan
• Exploration focused on near-mine extensions and selected growth targets
• Technical drilling to support mine sequencing, geotechnical work and permitting

The program supports feasibility, permitting and engineering work as Black Pine advances toward a construction decision.

Read more: https://t.co/NBfjR3QkGv
$LGD.TO $LGDTF #LGD #Gold #Mining #Development #Exploration

[3L Capital @3L_Capital]

NEWS > @CoppernicoMetal reports additional surface channel sampling results from the Nioc target at its Sombrero Project in Peru.

Highlights include:
• 70.1m @ 0.92% Cu, 0.25 g/t Au and 2.45 g/t Ag
• Step-out channel returned 58.0m @ 0.58% Cu, 0.39 g/t Au and 1.70 g/t Ag
• Surface mineralized width at Zone 2 nearly doubled to ~70m
• Mineralization remains open to the north
• Results sit above a >1.5 km Nioc geophysical target

Results strengthen Nioc as a priority drill target within the broader Sombrero system.

Read more: https://t.co/NsRea1LJS0
$COPR $CPPMF #COPR #Copper #Gold #Mining #Exploration

[3L Capital @3L_Capital]

NEWS > @LibertyGoldCorp reports full exercise of May 2024 warrants, strengthening its treasury as Black Pine advances through key development milestones.

Highlights include:
• 17.86M warrants exercised at C$0.45
• ~C$8.0M in proceeds received
• ~25M warrants remain outstanding at C$0.45, expiring April 2027
• Black Pine Feasibility Study targeted Q4 2026
• ~US$40M in expected incoming treasury funds over next 18 months
• Company expects to be fully funded through construction decision

The proceeds support continued feasibility, permitting and engineering work at Black Pine.

Read more: https://t.co/IZr2djsjJd
$LGD.TO $LGDTF #LGD #Gold #Mining #Development #ProjectFinance

[3L Capital @3L_Capital]

NEWS > @GMiningVentures reported Q1 2026 results this week, with TZ production tracking to plan and strong margins supported by higher gold prices.

Highlights include:
• 31,846 oz payable gold produced at TZ
• US$1,034/oz cash costs and US$1,588/oz AISC
• Realized gold price of US$4,143/oz
• Net income of US$80.4M; adjusted net income of US$62.0M
• US$69.7M operating cash flow and US$56.2M free cash flow
• US$637.2M available liquidity, incl. US$287.2M cash + US$350M undrawn credit facility
• 2026 guidance reiterated at 160,000–190,000 oz Au

Oko West remains on schedule and on budget, with first gold targeted H2 2027.

Read more: https://t.co/2M8v6Jx3OH
$GMIN.TO $GMINF #GMIN #Gold #Mining #Production #CashFlow

[3L Capital @3L_Capital]

NEWS > @SurgeBattery reports an updated MRE for the Nevada North Lithium Project, advancing de-risking work ahead of the PFS.

Highlights include:
• 10.5 Mt LCE M&I Resource @ 3,007 ppm Li
• Includes 6.7 Mt LCE @ 3,820 ppm Li
• ~87% of original PEA mine pit converted to M&I
• M&I conversion outside of PEA mine pit expected to add to PFS
• Inferred Resource of 3.1 Mt LCE @ 2,160 ppm Li
• Supports scalability and future mine plan optimization

Next catalyst: PFS work advancing at Nevada North.

Read more: https://t.co/jQG3OznvK2
$NILI.V $NILIF #NILI #Lithium #CriticalMinerals #Mining #BatteryMetals

[3L Capital @3L_Capital]

NEWS > @HeliostarMetals reports Q1 2026 results, delivering record production, mine operating earnings and working capital.

Highlights include:
• 11,743 oz Au and 43,798 oz Ag produced
• Cash costs of US$1,602/oz Au sold and AISC of US$1,996/oz Au sold
• Avg. realized gold price of US$4,850/oz
• Record mine operating earnings of US$30.9M and net income of US$14.0M
• Working capital increased US$21.0M QoQ to US$70.0M, with no debt
• First gold pour from San Agustin restart in late January
• Goldstrike added 975koz to portfolio

Results support continued funding of Ana Paula and portfolio-wide exploration, and HSTR’s path toward 500koz Au/year.

Read more: https://t.co/jtYFZEnY98
$HSTR.V $HSTXF #HSTR #Gold #Mining #Production #CashFlow

[3L Capital @3L_Capital]

NEWS > @TectonicMetals launches its largest-ever drill campaign at the Flat Gold Project (#Alaska).

Highlights include:
- 40,000m drill program with 5 rigs
- Backed by ~C$100M treasury
- Expansion, resource definition, and district-scale discovery drilling
- Maiden resource at Chicken Mountain targeted Q1 2027
- Builds on 2025 results incl. 9.94 g/t Au over 36.58m
- Infrastructure upgrades to support larger-scale, year-round operations

Read more: https://t.co/YE2cbcGL2h
$TECT.V $TETOF #TECT #Gold #Mining #Exploration #Drilling

[3L Capital @3L_Capital]

NEWS: @GMiningVentures provides a Q1-2026 update on its Oko West Project (#Guyana), with development advancing on schedule and on budget.

Highlights include:
• 19.7% complete (earned value)
• ~US$292M spent (~30% capex), US$525M committed (~54%)
• ~80% engineering and procurement complete
• TRIFR of 0.37 with >1.6M hours worked
• Workforce of 1,379 (82% local)
• Key equipment secured; logistics infrastructure in place

First gold targeted H2 2027; commercial production expected January 2028.

Read more: https://t.co/4ZogInmVV4
$GMIN.TO $GMINF #GMIN #Gold #Mining #Development #Construction #MiningDevelopment

[3L Capital @3L_Capital]

. @HeliostarMetals and @LibertyGoldCorp complete the sale of the Goldstrike Project in Utah, marking a strategic transaction for both companies.

Highlights include:
- US$72.5M total consideration
- US$10M cash + ~1.6M shares on closing
- US$60M in staged milestone payments (5 years)
- 975 koz Indicated @ 0.46 g/t Au + 90 koz Inferred @ 0.31 g/t Au
- Updated technical report expected next month

The transaction strengthens Heliostar’s U.S. pipeline and provides Liberty Gold with non-dilutive capital to advance Black Pine.

Read more: https://t.co/0H9TAdiU2E

$HSTR.V $HSTXF $LGD.TO $LGDTF #HSTR #LGD #Gold #Mining #MergersAndAcquisitions

[3L Capital @3L_Capital]

. @HeliostarMetals reports additional high-grade results from the High Grade Panel at its Ana Paula Project (#Mexico).

Highlights include:
- 69.15m @ 10.09 g/t Au
- 43.8m @ 13.9 g/t Au (incl. 19.85m @ 22.5 g/t Au)
- 30.65m @ 11.3 g/t Au (incl. 14.1m @ 22.1 g/t Au)
- 28.95m @ 11.2 g/t Au
- Infill drilling supporting conversion of inferred ounces
- 88 holes / 31,184m completed to date
- 14 holes pending, providing near-term catalysts

Results support the Feasibility Study and potential mine life expansion.

Read more: https://t.co/PJYc3SaC4s
$HSTR.V $HSTXF #HSTR #Gold #Mining #Exploration #HighGrade

[3L Capital @3L_Capital]

. @GMiningVentures to acquire G2 Goldfields Inc., consolidating the Oko West and Oko-Ghanie projects into a district-scale gold complex in Guyana.

Highlights include:
- 500 koz LOM avg production (350 koz + 228 koz)
- C$1B in expected synergies
- Accelerated permitting via fully permitted Oko West
- Deal done at 0.65 P/NAV (3l Est.), comparing favourable to prior M&A deals
- Strongest growth profile in the Intermediate Gold Producer space
- NAV and EV/EBITDA multiples suggest >US$18B Mc potential by 2030 (US$9.8 currently)

Read more: https://t.co/8Forjnpn93

$GMIN.TO $GMINF #GMIN #Gold #Mining #MergersAndAcquisitions #MiningDevelopment

[3L Capital @3L_Capital]

. @HeliostarMetals reports additional high-grade drill results from the Expansion Zone at its Ana Paula Project (#Mexico).

Highlights include:
- 101.0m @ 5.34 g/t Au, Including 8.75m @ 9.11 g/t Au
- 27.2m @ 2.26 g/t Au
- 7.15m @ 6.98 g/t Au
- Mineralization open to the north, south, and at depth

Program now totals 84 holes / 28,318m, with 5 Expansion Zone holes pending

Read more: https://t.co/AeaZWTRxW9
$HSTR.V $HSTXF #HSTR #Gold #Mining #Exploration #HighGrade

[3L Capital @3L_Capital]

. @CoppernicoMetal expands Sombrero Project footprint South of Tipicancha

Highlights include:
- 600 ha optioned + 1,400 ha previously staked
Expands footprint of epithermal–porphyry system
- Option structure: US$3.0M work + US$2.0M payments over 5 years
- Immediate exploration rights with full operational control during the option period

Read more: https://t.co/FwUE1NjXrC
$COPR $COPR.TO #COPR #Copper #Gold #Mining #Exploration #Porphyry

[3L Capital @3L_Capital]

#Explorer @LibertyGoldCorp reports final 2025 drill results from its Black Pine Project.

Highlights include:
- 39,896m drilled across 200 holes
- 1.04 g/t Au over 19.8m (incl. 5.28 g/t over 3.0m) at Rangefront
- 1.05 g/t Au over 32.0m at Discovery
- Mineralization remains open in multiple directions

Next catalyst: ~14,000m drill program starting April.

[3L Capital @3L_Capital]

> @GMiningVentures reports FY2025 results, marking its first full year of commercial production at Tocantinzinho.

171,871 oz gold produced with 90.6% recoveries, $748/oz cash costs and $1,155/oz AISC. The operation generated $255M free cash flow and $288M net income, supporting Oko West development.

2026–2027 outlook: ~200,000 oz annual production with improving costs as higher-grade Phase 2 ore is introduced.

Read more: https://t.co/AYzBZUZIBA

$GMIN.TO $GMINF #GMIN #Gold #Mining #Production #CashFlow #MiningDevelopment

[3L Capital @3L_Capital]

. @LibertyGoldCorp announces the sale of its Goldstrike Project to @HeliostarMetals for total consideration of US$72.5M, providing non-dilutive capital to advance its Black Pine Project. We view this as a win-win transaction for Liberty Gold and Heliostar, two 3L Capital Platform companies.

The structure combines upfront and deferred payments with equity participation, offering near-term liquidity while retaining exposure to future upside.

3L Capital acted as Financial Advisor to Liberty Gold.

Read more: https://t.co/iTH6wE2kWI
$LGD.TO $LGDTF $HSTR.V #Gold #Mining #MergersAndAcquisitions #CapitalMarkets

[3L Capital @3L_Capital]

. @SurgeBattery appoints former Berkshire Hathaway Energy executive Richard Weech as Independent Director, adding 35+ years of experience across capital allocation and project development.

Mr. Weech previously led BHE Investments & BHE Renewables, with exposure to lithium opportunities, strengthening the board as the Company advances Nevada North.

We wish him success in his new role.

Read more: https://t.co/WPWtOT12sq

$NILI.V $NILIF #NILI #Lithium #CriticalMinerals #Mining #EnergyTransition