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Walker Lane Resources Ltd. Completes an Updated Mineral Resource and Plans in 2026 to Advance Exploration Efforts and a Preliminary Economic Assessment in its Silver Hart Project, Yukon, Canada

Investing 12 Mins Read

TSX-V: WLR
Frankfurt: 6YL

Standards of Disclosure for Mineral Projects and its Companion Policy 43-101CP with an effective date of January 6, 2026.

The report was co-authored by Ronacher McKenzie Geosciences Inc. who conducted a site visit in 2025 to verify work completed since the 2021 season that has been reported by WLR which included a drill program in 2022, a minor sampling program on the Silver Hart claims in 2024, completion of a trenching program and minor reconnaissance efforts on the adjoining and acquired Blue Heaven claims in 2024, and reclamation programs on all of the claims in 2023 and 2024.

Subject to financing WLR intends to conduct drilling, socio-economic, environmental and engineering studies and initiate a Preliminary Economic Assessment of the Silver Hart Project in 2026.

The CIM Standards require that an estimated mineral resource must have reasonable prospects for eventual economic extraction. A summary of the SHP mineral resource economic and technical parameters and/or assumptions is presented in Table 1 below. A pit-shell was optimized based on silver equivalent values calculated using the economic parameters in the table.

Table 1: Summary of the Siver Hart Project Economic and Technical Parameters/Assumptions

Item

Units

Extended

Mining cost

CAD$/t all material

10.00

Processing cost

CAD$/t crude feed

25.50

G&A cost

CAD$/t crude feed

5.00

Exchange rate

CAD$ to US$

0.75

Ag price

USD$/oz

23.30

Pb price

US$/metric tonne

1,892

Zn price

US$/metric tonne

2,505

Metallurgical recovery

Percentage

80

Overall pit slope

Degrees

45

Silver Equivalent Calculation:  AgEq g/t = [(Ag ppm x %Rec. x Price/g) + (Pb ppm x %Rec. x Price/g) + (Zn ppm x %Rec. x Price/g)]/ (Ag Price/g x %Rec).
Note: Rec. = metallurgical recovery. AgEq=Silver Equivalent.

Block grade interpolation was performed using the ordinary kriging (OK) technique. The estimated pit constrained mineral resources were classified as Inferred, despite some close drill hole spacing in some zones and the continuity of mineralization as confirmed by variography, mainly because of the lack of substantiated metal recoveries and suspect collar surveys. Table 2 summarizes the update MRE fpr the Silver Hart Project effective as at January 6, 2026.

Table 2: Silver Hart Project – Pit Constrained Mineral Resources at a Cut-off Grade of AgEq>=50 g/t 

Mining Method

Domain

Mass (Tonnes)

Average Value

Material Content

AgEq g/t

Ag g/t

Pb %

Zn %

AgEq

Million oz

Ag Million oz

Pb

Million lb

Zn

Million lb

Open

Pit

TM_Zone

269,000

229.8

152.7

0.56

1.88

1.985

1.319

3.3

11.1

S_Zone

127,000

334.5

262.1

0.36

1.90

1.368

1.072

1.0

5.3

KL_Zone

1,026,000

110.9

35.7

0.11

2.17

3.659

1.178

2.5

49.0

K_Zone

265,000

79.8

14.2

0.09

1.90

0.680

0.121

0.5

11.1

M_Zone

202,000

173.6

98.1

0.58

1.82

1.128

0.637

2.6

8.1

Total

1,889,000

145.2

71.3

0.24

2.03

8.820

4.327

9.9

84.7

Notes:

1.

The effective date of this mineral resource statement is January 6, 2026.

2.

The qualified person responsible for this Mineral Resource Estimate (MRE) is Charley Murahwi, M.Sc., P.Geo., FAusIMM.

3.

The mineral resources have been estimated in accordance with the CIM Best Practice Guidelines (2019) and the CIM Definition Standards (2014)

4.

Ordinary Kriging (OK) interpolation was used with a single block size of 5m x 5m x 5m.

5.

The Economic & Technical parameters/assumptions are summarized in Table 1.1 above.

6.

The mineral resource results are presented in-situ within the optimized pit. Mineralized material outside the pit has not been considered as a part of the current MRE.

7.

The tonnes and metal contents are rounded to reflect that the numbers are an estimate and any discrepancies in the totals are due to the rounding effects.

8.

Mineral resources unlike mineral reserves do not have demonstrated economic viability.

The report also noted that:

  • All the deposits remain open along strike in both directions and down dip, and, in particular, the largest deposit (KL zone). The likelihood of some of the deposits merging (i.e., K to KL, TM main to H and S to M) cannot be ruled out if a program of step out and infill drilling is implemented.
  • The growth potential for the mineral resource is satisfactory as the deposits remain open for expansion in all directions (i.e., strike in both directions and down dip).
  • Prospects for growing the resource via new discoveries appear favorable based on the fact that several known mineral occurrences and anomalies within the Silver Hart and the adjacent Blue Heaven claims remain to be test drilled for resource evaluation.
  • The early initial metallurgical tests completed previously in 1986 and, in 2006, do not have substantiated documentation regarding representativity and location of the samples and, thus, the need for a fresh start is warranted. Nonetheless, the general response of lead, zinc and silver to flotation in those early tests was generally positive.

The NI-43-101 MRE report has been filed on its SEDAR+ profile and will soon be published on the Company’s website at www.walkerlaneresources.com

Kevin Brewer, President and CEO of WLR, commented ‘The MRE is a major milestone in our exploration efforts at Silver Hart. The MRE was estimated at prices much lower than current spot metal prices, which if used in the silver equivalent calculation in the MRE calculation result in an improved silver equivalent grade. You can do the math. As a result, WLR now intends to advance our evaluation of this project to consider a production decision in the short term. Mineralization in all of the zones in the Silver Hart Project start at surface and therefore are expected to be amenable to small scale open pit mining. WLR and its predecessor company CMC Metals Ltd. have been working on this project for 20 years and it is now prepped to take the project to the next stage.’

Next Steps – Highlights of Proposed 2026 Exploration Program and Preparation of a Preliminary Economic Assessment

Walker Lane Resources Ltd. also announced that it is preparing to commence planning for the next stage of its exploration program and evaluation of the Silver Hart Project which will contribute to a potential development decision for the project.

Subject to financing, WLR intends to:

  • Complete 1,500-2,000 meters of exploration drilling to (i) extend the resources on the TM Zone (ii) to conduct infill drilling in the TM Zone with the objective of converting a majority of the inferred resources to indicated resources.
  • Conduct 1,000-1,500 meters of exploratory drilling on known areas of mineralization on the Blue Heaven claims.
  • Metallurgical testing including pre-concentration (ore sorting / dense heavy media separation) assessments.
  • Conduct additional environmental and socio-economic studies to support a possible development application for the project. This is expected to include examining opportunities for partnerships with local First Nations.
  • Initiate a Preliminary Economic Assessment of the project which will include preliminary engineering and a preliminary transportation/logistics analysis.

Qualified Persons

The resource evaluation work was completed by Mr. Charley Murahwi, M.Sc. P.Geo., FAusIMM and Richard Gowans, B.Sc, P.Eng of MICON International Limited. Mr. Murahwi conducted a personal inspection of the Silver Hart Project on August 17-20, 2021. Dr. Gloria Lopez, PhD, P.Geo. of Ronacher-McKenzie Geosciences Inc. was a contributing author and conducted a personal inspection of the Silver Hart Project on September 16, 2025. This information release has also been reviewed and approved by the Qualified Persons.

About Walker Lane Resources Ltd.

Walker Lane Resources Ltd. is a growth-stage exploration company focused on the exploration of high-grade gold, silver and polymetallic deposits in the Walker Lane Gold Trend District in Nevada and the Rancheria Silver District in Yukon/B.C. and other property assets in Yukon. The Company intends to initiate an aggressive exploration program to advance the Tule Canyon (Walker Lane, Nevada) and Amy (Rancheria Silver District, B.C.) projects through drilling programs with the aim of achieving resource definition in the near future.

For more information, please consult the Company’s filings, available at www.sedarplus.ca. Also please feel free to call Kevin at the number below.

ON BEHALF OF THE BOARD OF DIRECTORS

Kevin Brewer
CEO and Director
Walker Lane Resources Ltd.

Cautionary and Forward Looking Statements

This press release and related figures and/or tables, contain certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to as forward-looking statements). These statements relate to future events or our future performance. All statements other than statements of historical fact are forward-looking statements. The use of any of the words ‘anticipate’, ‘plans’, ‘continue’, ‘estimate’, ‘expect’, ‘may’, ‘will’, ‘project’, ‘predict’, ‘potential’, ‘should’, ‘believe’ ‘targeted’, ‘can’, ‘anticipates’, ‘intends’, ‘likely’, ‘should’, ‘could’  or grammatical variations thereof and similar expressions is intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These statements speak only as of the date of this presentation. These forward-looking statements include, but are not limited to, statements concerning: our strategy and priorities including certain statements included in this presentation are forward-looking statements within the meaning of Canadian securities laws, including statements regarding the Tule Canyon, Cambridge, Silver Mountain, and Shamrock Properties in Nevada (USA), and its properties including Silverknife and Amy properties in British Columbia, the  Silver Hart, Blue Heaven and Logjam properties in Yukon all of which now comprise the mineral property assets of WLR. WLR has assumed other assets of CMC Metals Ltd. including common share holdings of North Bay Resources Inc. (OTC-US: NBRI) and all conditions and agreements pertaining to the sale of the Bishop mill gold processing facility and remain subject to the condition of the option of the Silverknife property with Coeur Mining Inc. (TSX:CDE). These forward-looking statements reflect the Company’s current beliefs and are based on information currently available to the Company and assumptions the Company believes are reasonable. The Company has made various assumptions, including, among others, that: the historical information related to the Company’s properties is reliable; the Company’s operations are not disrupted or delayed by unusual geological or technical problems; the Company has the ability to explore the Company’s properties; the Company will be able to raise any necessary additional capital on reasonable terms to execute its business plan; the Company’s current corporate activities will proceed as expected; general business and economic conditions will not change in a material adverse manner; and budgeted costs and expenditures are and will continue to be accurate.

Actual results and developments may differ materially from results and developments discussed in the forward-looking statements as they are subject to a number of significant risks and uncertainties, including: public health threats; fluctuations in metals prices, price of consumed commodities and currency markets; future profitability of mining operations; access to personnel; results of exploration and development activities, accuracy of technical information; risks related to ownership of properties; risks related to mining operations; risks related to mineral resource figures being estimates based on interpretations and assumptions which may result in less mineral production under actual conditions than is currently anticipated; the interpretation of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; changes in operating expenses; changes in general market and industry conditions; changes in legal or regulatory requirements; other risk factors set out in this presentation; and other risk factors set out in the Company’s public disclosure documents. Although the Company has attempted to identify significant risks and uncertainties that could cause actual results to differ materially, there may be other risks that cause results not to be as anticipated, estimated or intended. Certain of these risks and uncertainties are beyond the Company’s control. Consequently, all of the forward-looking statements are qualified by these cautionary statements, and there can be no assurances that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences or benefits to, or effect on, the Company.

The information contained in this presentation is derived from management of the Company and otherwise from publicly available information and does not purport to contain all of the information that an investor may desire to have in evaluating the Company. The information has not been independently verified, may prove to be imprecise, and is subject to material updating, revision and further amendment. While management is not aware of any misstatements regarding any industry data presented herein, no representation or warranty, express or implied, is made or given by or on behalf of the Company as to the accuracy, completeness or fairness of the information or opinions contained in this presentation and no responsibility or liability is accepted by any person for such information or opinions. The forward-looking statements and information in this presentation speak only as of the date of this presentation and the Company assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law. Although the Company believes that the expectations reflected in the forward-looking statements and information are reasonable, there can be no assurance that such expectations will prove to be correct. Because of the risks, uncertainties and assumptions contained herein, prospective investors should not read forward-looking information as guarantees of future performance or results and should not place undue reliance on forward-looking information. Nothing in this presentation is, or should be relied upon as, a promise or representation as to the future. To the extent any forward-looking statement in this presentation constitutes ‘future-oriented financial information’ or ‘financial outlooks’ within the meaning of applicable Canadian securities laws, such information is being provided to demonstrate the anticipated market penetration and the reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such future-oriented financial information and financial outlooks. Future-oriented financial information and financial outlooks, as with forward-looking statements generally, are, without limitation, based on the assumptions and subject to the risks set out above. The Company’s actual financial position and results of operations may differ materially from management’s current expectations and, as a result, the Company’s revenue and expenses. The Company’s financial projections were not prepared with a view toward compliance with published guidelines of International Financial Reporting Standards and have not been examined, reviewed or compiled by the Company’s accountants or auditors. The Company’s financial projections represent management’s estimates as of the dates indicated thereon.

SOURCE Walker Lane Resources Ltd

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LAURION Strengthens its Technical Leadership at Ishkoday with Appointment of Pierre-Jean Lafleur, P.Eng., as Qualified Person

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(TheNewswire)

Toronto, Ontario January 21, 2026 TheNewswire – Laurion Mineral Exploration Inc. (TSX-V: LME | OTCQB: LMEFF | FSE: 5YD) (‘LAURION’ or the ‘Company’) announces the appointment of Pierre-Jean Lafleur, P.Eng., as the Company’s new Qualified Person, effective immediately.

Pierre-Jean is a highly experienced geological engineer and consultant who has authored numerous National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101’) technical reports for gold and mineral resource projects, including Duparquet (Québec), Balabag (Philippines) and Lac Lamêlée (iron ore, Québec), demonstrating deep expertise in gold, base metals, and international resource evaluation. He specializes in property evaluation, mineral resource estimation and various aspects of exploration and mining project management.

‘Pierre-Jean brings exactly the combination of geological insight, Qualified Person leadership, and technical discipline that aligns with our execution priorities,‘ said Cynthia Le Sueur-Aquin, President and CEO of LAURION. ‘His experience strengthens our ability to advance Ishkōday through disciplined interpretation, integrated modelling, and technically grounded decision-making as the project continues to evolve.’

The Company also extends its sincerest thanks to Jean-Philippe Paiement, P.Geo., for his contributions and efforts during his tenure as the Company’s Qualified Person. LAURION wishes him continued success in his future endeavours.

Strengthened Technical Team to Advance Ishkōday

LAURION has strategically strengthened its technical leadership to support disciplined advancement at the Ishkōday Gold-Polymetallic Project. Pierre-Jean Lafleur and Ali Ben Ayad (Structural-Geophysicist) will lead the integration and synthesis of LAURION’s geological, geophysical, and drilling datasets to refine the A-Zone geological envelope, develop robust 3D wireframes, and establish the technical foundation required for future resource-definition work under NI 43-101.

In parallel, Rogerio Monteiro of Vektore will contribute advanced structural interpretation and grade-vectoring analysis to support the prioritization of step-out targets with potential to extend known mineralization, with initial emphasis on the Sturgeon River Mine area and broader Ishkōday corridor. Vektore’s proprietary spatial-analytic framework transforms grade information into directionally weighted vector fields, supporting early-stage identification of structural trends and high-probability concentration zones.

 

This work will be closely coordinated with Ronacher McKenzie Geoscience (RMG) and LAURION’s internal exploration team to ensure disciplined execution, continuity of interpretation, and alignment across technical workstreams.

Guidance on Timing of NI 43-101 Technical Reports

 

While LAURION is working toward the technical foundation required to support an eventual NI 43-101 compliant technical report expressing a mineral resource estimate (‘MRE’), potentially followed by a subsequent technical report disclosing a preliminary economic assessment (‘PEA’), the Company is not providing guidance on timing of either of these technical objectives. Progress toward an MRE and PEA will depend on multiple factors, including ongoing refinement of geological and structural models, the definition of mineralized continuity through further work and drilling where required, and access to financing to execute the necessary programs. Accordingly, references to NI 43-101 technical reports should be regarded as an ongoing technical objective of the Company, not an indication that the completion dates for an MRE and PEA can be accurately predicted at this stage.

 

LAURION believes the appointment of Pierre-Jean as its new Qualified Person further strengthens the Company’s technical leadership as it continues developing Ishkōday.

 

Qualified Person

The technical contents of this release were reviewed and approved by Pierre-Jean Lafleur, P.Eng, a consultant to LAURION and a Qualified Person as defined by NI 43-101.

 

About LAURION Mineral Exploration Inc.

 

Laurion Mineral Exploration Inc. is a mid-stage junior mineral exploration company listed on the TSX Venture Exchange under the symbol LME and on the OTC Pink market under the symbol LMEFF. The Company currently has 278,716,413 common shares outstanding, with approximately 73.6% held by insiders and long-term ‘Friends and Family’ investors, reflecting strong alignment between management, the Board, and shareholders.

 

LAURION’s primary focus is the 100%-owned, district-scale Ishkōday Project, a 57 km² land package hosting gold-rich polymetallic mineralization. The Company is advancing Ishkōday through a disciplined, milestone-driven exploration strategy focused on strengthening geological confidence, defining structural continuity.

 

LAURION’s strategy is centered on deliberate value creation. The Company is prioritizing systematic technical advancement, integrated geological and structural modeling, and the evaluation of optional, non-dilutive pathways, including historical surface stockpile processing, that may support flexibility in LAURION’s exploration plans without diverting the Company’s focus from its core exploration objectives.

 

The Company’s overarching objective is to build project value before monetization, ensuring that any future strategic outcomes are supported by technical clarity, reduced execution risk, and demonstrated scale. While the Board remains attentive to strategic interest that may arise, LAURION is not driven by transaction timing. Instead, the Company is focused on advancing the Ishkōday Project in a manner that strengthens long-term shareholder value.

 

LAURION will continue to communicate updates through timely disclosure and will issue press releases in accordance with applicable securities laws should any material information arise.

 

FOR FURTHER INFORMATION, CONTACT:

 

Laurion Mineral Exploration Inc.

Cynthia Le Sueur-Aquin – President and CEO

Tel: 1-705-788-9186 Fax: 1-705-805-9256

 

Douglas Vass – Investor Relations Consultant

Email: info@laurion.ca

Website: http://www.LAURION.ca

Follow us on: X (@LAURION_LME), Instagram (laurionmineral) and LinkedIn ()

 

Caution Regarding Forward-Looking Information

This press release contains forward-looking statements, which reflect the Company’s current expectations regarding future events including with respect to LAURION’s business, operations and condition, management’s objectives, strategies, beliefs and intentions, the Company’s ability to advance the Ishkōday Project, the nature, focus, timing and potential results of the Company’s exploration, drilling and prospecting activities in 2026 and beyond, the timing of, and the Company’s ability to complete, any technical reports or milestones regarding the Ishkōday Project, and the statements regarding the Company’s exploration or consideration of any possible strategic alternatives and transactional opportunities, as well as the potential outcome(s) of this process, the possible impact of any potential transactions referenced herein on the Company or any of its stakeholders, and the ability of the Company to identify and complete any potential acquisitions, mergers, financings or other transactions referenced herein, and the timing of any such transactions. The forward-looking statements involve risks and uncertainties. Actual events and future results, performance or achievements expressed or implied by such forward-looking statements could differ materially from those projected herein including as a result of a change in the trading price of the common shares of LAURION, the TSX Venture Exchange or any other applicable regulator not providing its approval for any strategic alternatives or transactional opportunities, the interpretation and actual results of current exploration activities, changes in project parameters as plans continue to be refined, future prices of gold and/or other metals, possible variations in grade or recovery rates, failure of equipment or processes to operate as anticipated, the failure of contracted parties to perform, labor disputes and other risks of the mining industry, delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the Company’s publicly filed documents. Investors should consult the Company’s ongoing quarterly and annual filings, as well as any other additional documentation comprising the Company’s public disclosure record, for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. Subject to applicable law, the Company disclaims any obligation to update these forward-looking statements. All sample values are from grab samples and channel samples, which by their nature, are not necessarily representative of overall grades of mineralized areas. Readers are cautioned to not place undue reliance on the assay values reported in this press release.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

  

Copyright (c) 2026 TheNewswire – All rights reserved.

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Valentino, founder of Italian luxury empire, dies at 93

Business 3 Mins Read

ROME — Italian fashion designer Valentino Garavani has died, his foundation said Monday.

Usually known only by his first name, Valentino was 93, and had retired in 2008.

Founder of the eponymous brand, Valentino scaled the heights of haute couture, created a business empire and introduced a new color to the fashion world, the ‘Valentino Red.’

‘Valentino Garavani passed away today at his Roman residence, surrounded by his loved ones,’ the foundation said on Instagram.

He will lie in state Wednesday and Thursday, while the funeral will take place in Rome on Friday, it added.

Ira de Fürstenberg, president of Valentino Parfums, alongside Valentino Garavani in his perfume laboratory in 1978.Alain Dejean / Getty Images file

Valentino was ranked alongside Giorgio Armani and Karl Lagerfeld as the last of the great designers from an era before fashion became a global, highly commercial industry run as much by accountants and marketing executives as the couturiers.

Lagerfeld died in 2019, while Armani died in September.

Valentino was adored by generations of royals, first ladies and movie stars, from Jackie Kennedy Onassis to Julia Roberts and Queen Rania of Jordan, who swore the designer always made them look and feel their best.

“I know what women want,” he once remarked. “They want to be beautiful.”

Italian fashion designer Valentino.Andrea Blanch / Getty Images file

Never one for edginess or statement dressing, Valentino made precious few fashion faux-pas throughout his nearly half-century-long career, which stretched from his early days in Rome in the 1960s through to his retirement in 2008.

His fail-safe designs made Valentino the king of the red carpet, the go-to man for A-listers’ awards ceremony needs.

His sumptuous gowns have graced countless Academy Awards, notably in 2001, when Roberts wore a vintage black and white column to accept her best actress statue. Cate Blanchett also wore Valentino — a one-shouldered number in butter-yellow silk — when she won the Oscar for best supporting actress in 2004.

Valentino and a group of models in his designs during a fashion show in Paris in 1993.Gamma-Rapho via Getty Images file

Valentino was also behind the long-sleeved lace dress Jacqueline Kennedy wore for her wedding to Greek shipping magnate Aristotle Onassis in 1968. Kennedy and Valentino were close friends for decades, and for a spell, the one-time U.S. first lady wore almost exclusively Valentino.

He was also close to Diana, Princess of Wales, who often donned his sumptuous gowns.

Beyond his signature orange-tinged shade of red, other Valentino trademarks included bows, ruffles, lace and embroidery; in short, feminine, flirty embellishments that added to the dresses’ beauty and hence to that of the wearers.

Perpetually tanned and always impeccably dressed, Valentino shared the lifestyle of his jet-set patrons. In addition to his 152-foot yacht and an art collection including works by Picasso and Miro, the couturier owned a 17th-century chateau near Paris with a garden said to boast more than a million roses.

This post appeared first on NBC NEWS

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S&P 500 Breaking Out Again: What This Means for Your Portfolio

Stock 3 Mins Read

The S&P 500 ($SPX) just logged its fifth straight trading box breakout, which means that, of the five trading ranges the index has experienced since the April lows, all have been resolved to the upside.

How much longer can this last? That’s been the biggest question since the massive April 9 rally. Instead of assuming the market is due to roll over, it’s been more productive to track price action and watch for potential changes along the way. So far, drawdowns have been minimal, and breakouts keep occurring. Nothing in the price action hints at a lasting change — yet.

While some are calling this rally “historic,” we have a recent precedent. Recall that from late 2023 through early 2024, the index had a strong start and gave way to a consistent, steady trend.

From late October 2023 through March 2024, the S&P 500 logged seven consecutive trading box breakouts. That streak finally paused with a pullback from late March to early April, which, as we now know, was only a temporary hiccup. Once the bid returned, the S&P 500 went right back to carving new boxes and climbing higher.

New 52-Week Highs Finally Picking Up

If there’s been one gripe about this rally, it’s that the number of new highs within the index has lagged. As we’ve discussed before, among all the internal breadth indicators available, new highs almost always lag — that’s normal. What we really want to see is whether the number of new highs begins to exceed prior peaks as the market continues to rise, which it has, as shown by the blue line in the chart below.

As of Wednesday’s close, 100 S&P 500 stocks were either at new 52-week highs or within 3% of them. That’s a strong base. We expect this number to continue rising as the market climbs, especially if positive earnings reactions persist across sectors.

Even when we get that first day with 100+ S&P 500 stocks making new 52-week highs, though, it might not be the best time to initiate new longs.

The above chart shows that much needs to align for that many stocks to peak in unison, which has historically led to at least a short-term consolidation, if not deeper pullbacks — as highlighted in yellow. Every time is different, of course, but this is something to keep an eye on in the coming weeks.

Trend Check: GoNoGo Still “Go”

The GoNoGo Trend remains in bullish mode, with the recent countertrend signals having yet to trigger a greater pullback.

Active Bullish Patterns

We still have two live bullish upside targets of 6,555 and 6,745, which could be with us for a while going forward. For the S&P 500 to get there, it will need to form new, smaller versions of the trading boxes.

Failed Bearish Patterns

In the chart below, you can view a rising wedge pattern on the recent price action, the third since April. The prior two wedges broke down briefly and did not lead to a major downturn. The largest pullbacks in each case occurred after the S&P 500 dipped below the lower trendline of the pattern.

The deepest drawdown so far is 3.5%, which is not exactly a game-changer. Without downside follow-through, a classic bearish pattern simply can’t be formed, let alone be broken down from.

We’ll continue to monitor these formations as they develop because, at some point, that will change.

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FORTUNE BAY MOVES INTO 2026 FOCUSED ON EXPEDITED ADVANCEMENT OF GOLDFIELDS

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Exploration drilling underway and PFS-level technical programs ongoing at the Company’s Saskatchewan gold project

Fortune Bay Corp. (TSXV: FOR,OTC:FTBYF) (FWB: 5QN) (OTCQB: FTBYF) (‘Fortune Bay’ or the ‘Company’) is entering 2026 with a strengthened balance sheet and a clear strategic focus on advancing its Goldfields Gold Project (‘Goldfields’ or the ‘Project’), a gold development asset in Saskatchewan, one of the world’s top-tier mining jurisdictions.

Following a year of significant technical and corporate progress in 2025, the Company is fully funded to execute its planned 2026 program at Goldfields, centered on; 1) project development work, that includes advancing toward a Prefeasibility Study (‘PFS’) in tandem with permitting activities, and 2) exploration drilling targeting additional near-mine ounces that could further strengthen Goldfields’ excellent economics. Exploration drilling has resumed after the holiday break and initial drill results are expected in the first quarter of 2026.

‘Goldfields is very well-positioned for advancement, with excellent PEA economics, a high-confidence mineral resource base, established infrastructure, and the benefit of Saskatchewan’s stable, top-tier jurisdiction.‘ said Dale Verran, CEO of Fortune Bay. ‘The work completed in 2025 strengthened the project’s technical foundation and firmly set the stage for expedited advancement. With funding secured, our priority in 2026 is disciplined execution, advancing development while growing the resource and positioning Goldfields to unlock meaningful value as the gold market continues to strengthen.’

2025: A Year of Demonstrating Project Value and Setting the Stage for Advancement

Throughout 2025, Fortune Bay advanced Goldfields through a series of key milestones aimed at strengthening technical confidence, improving execution readiness, and positioning the project for the next stage of value creation.

Updated Preliminary Economic Assessment: Defining an Expedited Development Path

In September 2025, Fortune Bay completed an independent Updated Preliminary Economic Assessment (‘Updated PEA’) for Goldfields, confirming the project as a robust open-pit development asset supported by a well-defined resource base, existing infrastructure, and Saskatchewan’s stable regulatory environment.

At a base-case gold price of US$2,600/oz, the Updated PEA outlined after-tax economics of C$610 million NPV (5%) and a 44% IRR, with initial capital estimated at C$301 million. At spot gold prices at the time of the study (US$3,650/oz), the after-tax NPV (5%) increased to C$1.25 billion, highlighting the project’s strong sensitivity to gold prices. On average, every US$100 change in the gold price assumption results in an approximate C$61 million change in after-tax NPV.

The Updated PEA positions Goldfields for accelerated advancement toward construction by maintaining throughput below 5,000 tpd, enabling the Project to remain within the provincial permitting framework. This expedited pathway is supported by established infrastructure, a de-risked resource base (with 97% of ounces in the mine plan classified as Indicated), and a valid provincially approved Environmental Impact Statement (‘EIS’) from 2008 for a 5,000 tpd open-pit operation.

To read the full release visit https://fortunebaycorp.com/news/post/fortune-bay-announces-updated-pea-for-goldfields-saskatchewan.

Permitting Work: Advancing Execution Readiness

Alongside the Updated PEA, Fortune Bay advanced environmental baseline studies during 2025, building upon extensive historical datasets and the existing EIS. Both aquatic and terrestrial baseline environmental studies were completed in late 2025, with final reporting and ongoing monitoring continuing into early 2026 and beyond.

In addition, a well-attended community tour of Indigenous communities and municipalities was completed in November 2025 to support early engagement on the development of Goldfields. Productive meetings were also held with Chiefs and Council members from local Indigenous nations to introduce the project and seek initial feedback from leadership.

Post-PEA Technical Programs: Advancing Toward PFS-Level Studies

Following completion of the Updated PEA, the Company initiated a series of post-PEA technical programs aimed at further de-risking the project and advancing studies toward the PFS level. This work included high-resolution topographic (LiDAR) survey, waste rock characterization, metallurgical testwork, and planning for additional PFS-level work programs.

Exploration: Positioning for Resource Expansion

In parallel with project development work, Fortune Bay refined exploration targets across the Goldfields property, integrating historical drilling, updated geological modeling, and insights gained through the PEA process. This work directly informed the design of the current exploration drilling program targeting additional near-mine ounces that could further strengthen Goldfields’ exceptional economics and improve the overall development profile. 

2026: Funded, Focused, and Advancing

With funding secured, Fortune Bay’s 2026 work program is designed to translate the technical and permitting progress achieved in 2025 into tangible value advancement at Goldfields. The Company enters the year with a clear operational focus and the financial capacity to execute its plans without near-term capital constraints.

Exploration

A central component of the 2026 program is resource expansion drilling, targeting priority areas identified through recent geological modeling and insights gained from the Updated PEA. The drilling is intended to test the potential to further strengthen project scale, extend mine life, and enhance the overall development profile. Initial drill results are expected in the first quarter of 2026.

Project Development

The Company plans to advance three key project development strategies in parallel; 1) PFS-level work streams, 2) Saskatchewan-led environmental approvals, and 3) community consultation and engagement.

PFS-level work streams will include expanded geotechnical, metallurgical and waste rock geochemistry investigations. Metallurgical and waste rock studies in 2025 were scoped to inform and support design of optimized PFS-level investigations in 2026. An integrated work program is being developed to reduce the amount of drilling required to the extent possible.

  • Geotechnical drilling and investigations, in tandem with hydrogeological survey, will expand on historical studies to further characterize host-rock physical properties and support optimization of the open pit design. Surface investigations and soil profile testing will also be carried out to support higher-confidence infrastructure design, including that of the tailings storage facility, process plant and other site infrastructure.
  • Metallurgical studies will include expanded testing to better constrain parameters around process plant design and reagent consumption, including broad-scale variability testing.
  • Waste rock characterisation study will be carried out, including acid base accounting and geochemistry, to support waste rock facility design and complement site water balance and environmental (permitting) advancement.

Results from recent baseline environmental studies and the waste rock characterization program will be integrated with feedback from early engagement activities and the project scope outlined in the Updated PEA to inform development of the Technical Proposal. The Technical Proposal is the first step in the provincial environmental assessment process and will be used as a basis for initiation of regulatory engagement with the Saskatchewan Ministry of Environment in Q1 of 2026. This work will build upon the Provincially-approved 2008 Environmental Impact Statement for a 5,000 tpd open-pit operation. Community engagement will continue in 2026 to strengthen relationships and continue meaningful dialogue on the project with the public and local Indigenous Nations, including rights holders.

The technical progress achieved at Goldfields in 2025, and the fully funded program planned for 2026, reinforce the Company’s strategy of disciplined, cycle-aware advancement of a high-quality gold asset in a top-tier jurisdiction.

Technical Report & Qualified Person

Details for the Updated PEA for Goldfields are provided in the technical report titled ‘Goldfields Project Updated NI 43-101 Technical Report & Preliminary Economic Assessment, Saskatchewan, Canada‘, dated October 20, 2025, prepared by Kevin Murray, P.Eng.; Scott C. Elfen, P.E.; James Millard, P.Geo.; Jonathan Cooper, P.Eng.; Marc Schulte, P.Eng.; Cliff Revering, P.Eng.; and Ron Uken, Pr.Sci.Nat. for Fortune Bay Corp. The technical report is available under the Company’s issuer profile on SEDAR+ (www.sedarplus.ca) and on the Company’s website at www.fortunebaycorp.com.

The technical and scientific information in this news release has been reviewed and approved by Gareth Garlick P.Geo., Vice-President Technical Services of the Company, who is a Qualified Person as defined by NI 43-101. Mr. Garlick is an employee of Fortune Bay and is not independent of the Company under NI 43‑101.

About Fortune Bay

Fortune Bay Corp. (TSXV:FOR,OTC:FTBYF; FWB:5QN; OTCQB:FTBYF) is a Canadian mineral exploration and development company with assets in Canada and Mexico. The Company’s primary focus is advancing the Goldfields Gold Project in Saskatchewan, Canada. Fortune Bay also holds the Poma Rosa Gold-Copper Project in Chiapas, Mexico, as well as an optioned uranium project portfolio in the Athabasca Basin of Saskatchewan. Fortune Bay continues to evaluate and advance its portfolio in a disciplined manner while maintaining a strong technical foundation and prudent capital management. For more information, please visit www.fortunebaycorp.com or contact info@fortunebaycorp.com.

On behalf of Fortune Bay Corp.

‘Dale Verran’
Chief Executive Officer
902-334-1919

Cautionary Statement

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. Words such as ‘expects’, ‘aims’, ‘anticipates’, ‘targets’, ‘goals’, ‘projects’, ‘intends’, ‘plans’, ‘believes’, ‘seeks’, ‘estimates’, ‘continues’, ‘may’, variations of such words, and similar expressions and references to future periods, are intended to identify such forward-looking statements, and include, but are not limited to, statements with respect to: the results of the Updated PEA, including future Project opportunities, future operating and capital costs, closure costs, AISC, the projected NPV, IRR, timelines, permit timelines, and the ability to obtain the requisite permits, economics and associated returns of the Project, the technical viability of the Project, the market and future price of and demand for gold, the environmental impact of the Project, and the ongoing ability to work cooperatively with stakeholders, including Indigenous Nations, local Municipalities and local levels of government. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward- looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate Indigenous Nations and local Municipalities, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. For more information on Fortune Bay, readers should refer to Fortune Bay’s website at www.fortunebaycorp.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Fortune Bay Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2026/20/c5036.html

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LAURION Provides Strategic Update for 2026: Advancing Ishkoday through Disciplined Execution

Investing 8 Mins Read

(TheNewswire)

Toronto, Ontario TheNewswire – January 20, 2026 Laurion Mineral Exploration Inc. (TSX-V: LME | OTCQB: LMEFF | FSE: 5YD) (‘LAURION’ or the ‘Company’) is pleased to provide an update on its strategic positioning entering 2026, following a recent strategy session of the Company’s Board of Directors. LAURION’s primary focus for the year ahead is the advancement and further development of its flagship Ishkōday Project, with the objective of enhancing the positioning of the asset to support the Company’s pursuit of strategic alternatives aimed at maximizing long‑term shareholder value.

‘Our focus has always been on advancing Ishkōday through disciplined, milestone-driven execution,’ said Cynthia Le Sueur-Aquin, President and CEO of LAURION. ‘This technical direction reflects my conviction that LAURION’s strategy is sound, disciplined, and built to endure. We are no longer relying on the market to infer value — we are building it by translating technical progress and mineral property advancement into measurable project value. As the Company’s largest shareholder, with my immediate family and I holding over 30 million shares, alignment with this approach matters deeply to me.’

‘This clarity regarding LAURION’s strategic plan is intended to ensure that investors understand how the Company’s disciplined execution today improves outcomes tomorrow, while avoiding mixed signals between whether the Company is prioritizing a pursuit of strategic alternatives as compared to the technical advancement and development of Ishkōday. They are considered concurrent and complementary priorities.’

EVALUATION OF STRATEGIC ALTERNATIVES

As previously announced, LAURION has undertaken a structured strategic review process, including the establishment of a special committee (the ‘Special Committee‘) and the engagement of a network of financial and strategic advisors, to explore a range of potential strategic alternatives for the Company, which includes, among other things, assessing interest from potential acquirers and institutional investors aligned with LAURION’s long-term vision. (LAURION press releases dated November 14, 2023, April 14, 2025, September 5, 2025, October 23, 2025 and November 19, 2025.)

As part of recent strategic discussions, the Company received feedback from external advisors regarding the Company’s market positioning, timing, and next steps. These advisors noted that, while interest in high-quality Canadian gold assets exists, it remains selective. The most effective way to strengthen future strategic outcomes is through the continued technical advancement and development of the Ishkōday Project. Specifically, these advisors recommended that LAURION advance the Project toward the completion of a technical report expressing a mineral resource estimate (MRE), followed by a subsequent technical report disclosing a preliminary economic assessment (PEA), each prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101‘). Therefore, working towards these two technical milestones will be the Company’s principal focus in 2026.

While LAURION’s M&A infrastructure – comprised of its Special Committee and established network of financial and strategic advisors – remains in place and the Company continues to explore and be receptive to strategic opportunities, day-to-day management will concentrate on advancing the development of the Ishkōday Project through its next stages of technical reporting. Consistent with the guidance provided by the Company’s advisors, the advancement of the Ishkōday Project is expected to further enhance the project’s profile, quantify the merits of the project, and better position LAURION to explore strategic alternatives designed to maximize shareholder value.

FROM BROAD EXPLORATION TO STRUCTURED VALUE DEFINITION

LAURION has built an extensive geological and exploration dataset across a large, mineralized corridor at Ishkōday through a series of deliberate, strategically designed work programs. The Company has developed a structure-led, confidence-building technical program designed to support mineral resource development.

The Company’s technical focus in 2026 will be on integrating this information to identify and progressively refine coherent mineralized envelopes within priority structural corridors, using structurally informed drilling, shoot-fan patterns, and 3D domaining to convert drilling confidence into robust geological models. Near-term drilling will be designed and executed within structurally validated zones and along established plunge directions, with each hole planned to test defined geological hypotheses and contribute directly to model refinement, continuity assessment, and confidence building. This disciplined approach emphasizes data quality and geological consistency, with the objective of ensuring that technical advancement is systematic, defensible, and aligned with NI 43-101. In the Company’s view, by prioritizing technical integrity, LAURION can support near-term target generation and foster future resource growth and value recognition, as this is how the Company intends to increase the underlying value of the project in a manner consistent with how value is traditionally assessed and realized in the mining industry.

LAURION to Attend VRIC 2026

LAURION will be attending the Vancouver Resource Investment Conference (VRIC) 2026, to be held in Vancouver, British Columbia, on January 25-26, 2026. Management will be available during the conference to engage with investors and industry participants and to discuss the Company’s ongoing work at the Ishkōday Gold-Polymetallic Project, its disciplined technical approach, and its 2026 execution priorities. Participation in VRIC supports LAURION’s commitment to transparent investor engagement and clear communication aligned with its milestone-driven strategy.

Qualified Person

The technical contents of this release were reviewed and approved by Pierre-Jean Lafleur, P.Eng, a consultant to LAURION and a Qualified Person as defined by NI 43-101.

About LAURION Mineral Exploration Inc.

 

Laurion Mineral Exploration Inc. is a mid-stage junior mineral exploration company listed on the TSX Venture Exchange under the symbol LME and on the OTC Pink market under the symbol LMEFF. The Company currently has 278,716,413 common shares outstanding, with approximately 73.6% held by insiders and long-term ‘Friends and Family’ investors, reflecting strong alignment between management, the Board, and shareholders.

LAURION’s primary focus is the 100%-owned, district-scale Ishkōday Project, a 57 km² land package hosting gold-rich polymetallic mineralization. The Company is advancing Ishkōday through a disciplined, milestone-driven exploration strategy focused on strengthening geological confidence, defining structural continuity.

LAURION’s strategy is centered on deliberate value creation. The Company is prioritizing systematic technical advancement, integrated geological and structural modeling, and the evaluation of optional, non-dilutive pathways, including historical surface stockpile processing, that may support flexibility without diverting focus from core exploration objectives.

The Company’s overarching objective is to build project value before monetization, ensuring that any future strategic outcomes are supported by technical clarity, reduced execution risk, and demonstrated scale. While the Board remains attentive to strategic interest that may arise, LAURION is not driven by transaction timing. Instead, the Company is focused on advancing the Ishkōday Project in a manner that strengthens long-term shareholder value.

LAURION will continue to communicate progress through timely disclosure and will issue press releases in accordance with applicable securities laws should any material change occur.

FOR FURTHER INFORMATION, CONTACT:

Laurion Mineral Exploration Inc.

Cynthia Le Sueur-Aquin – President and CEO

Tel: 1-705-788-9186 Fax: 1-705-805-9256

 

Douglas Vass – Investor Relations Consultant

Email: info@laurion.ca

Website: http://www.LAURION.ca

Follow us on: X (@LAURION_LME), Instagram (laurionmineral) and LinkedIn ()

 

Caution Regarding Forward-Looking Information

This press release contains forward-looking statements, which reflect the Company’s current expectations regarding future events including with respect to LAURION’s business, operations and condition, management’s objectives, strategies, beliefs and intentions, the Company’s ability to advance the Ishkōday Project, the nature, focus, timing and potential results of the Company’s exploration, drilling and prospecting activities in 2026 and beyond, including the Company’s planned activities for the Ishkōday Project for the remainder of 2026, the timing of, and the Company’s ability to complete, any technical reports or milestones regarding the Ishkōday Project, and the statements regarding the Company’s exploration or consideration of any possible strategic alternatives and transactional opportunities, as well as the potential outcome(s) of this process, the possible impact of any potential transactions referenced or inferred herein on the Company or any of its stakeholders, and the ability of the Company to identify and complete any potential acquisitions, mergers, financings or other transactions referenced or inferred herein, and the timing of any such transactions. The forward-looking statements involve risks and uncertainties. Actual events and future results, performance or achievements expressed or implied by such forward-looking statements could differ materially from those projected herein including as a result of a change in the trading price of the common shares of LAURION, the TSX Venture Exchange or any other applicable regulator not providing its approval for any strategic alternatives or transactional opportunities, the interpretation and actual results of current exploration activities, changes in project parameters as plans continue to be refined, future prices of gold and/or other metals, possible variations in grade or recovery rates, failure of equipment or processes to operate as anticipated, the failure of contracted parties to perform, labor disputes and other risks of the mining industry, delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the Company’s publicly filed documents. Investors should consult the Company’s ongoing quarterly and annual filings, as well as any other additional documentation comprising the Company’s public disclosure record, for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. Subject to applicable law, the Company disclaims any obligation to update these forward-looking statements. All sample values are from grab samples and channel samples, which by their nature, are not necessarily representative of overall grades of mineralized areas. Readers are cautioned to not place undue reliance on the assay values reported in this press release.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Copyright (c) 2026 TheNewswire – All rights reserved.

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Saks files for bankruptcy as luxury market struggles

Business 3 Mins Read

The company that owns the iconic luxury retailer Saks Fifth Avenue filed for bankruptcy late Tuesday.

The move comes after Saks Global struggled with debt it took on to buy rival Neiman Marcus, lagging department store sales and a rising online market.

It’s one of the largest retail collapses since the Covid pandemic, and casts further doubt over the future of luxury fashion.

The retailer, which also owns Bergdorf Goodman, said early Wednesday its stores would remain open for now after it finalized a $1.75 billion financing package and appointed a new CEO.

The court process is meant to give the luxury retailer room to negotiate a debt restructuring with creditors or sell itself to a new owner to stave off liquidation. Failing that, the company may be forced to shutter.

Former Neiman Marcus CEO Geoffroy van Raemdonck will replace Richard Baker, who was the architect of the acquisition strategy that left Saks Global saddled with debt.

The company also appointed former Neiman Marcus executives Darcy Penick and Lana Todorovich as chief commercial officer and chief of global brand partnerships at Saks Global, respectively.

Saks Fifth Avenue, the retail arm of Saks Global, listed $1 billion to $10 billion in assets and liabilities, according to court documents filed in U.S. Bankruptcy Court in Houston.

A retailer long loved by the rich and famous, from Gary Cooper to Grace Kelly, Saks fell on hard times after the pandemic, as competition from online outlets rose, and brands started more frequently selling items through their own stores.

The original Saks Fifth Avenue store, known for displaying the likes of Chanel, Cucinelli and Burberry, was opened by retail pioneer Andrew Saks in 1867.

The new financing deal would provide an immediate cash infusion of $1 billion through ‌a loan from an investor group, Saks Global said.

A host of luxury brands were among the unsecured creditors, led by Chanel and Gucci owner Kering at about $136 million and $60 million respectively, the court filing said. The world’s biggest luxury conglomerate, LVMH, was listed as an unsecured creditor at $26 million. In total, Saks Global estimated there were between 10,001 and 25,000 creditors.

In 2024, Baker had masterminded the takeover of Neiman Marcus by Canada’s Hudson’s Bay Co, which had owned Saks since 2013, and later spun off the U.S. luxury assets to create Saks Global, bringing together three names that have defined American high fashion for more than a century.

The deal was designed to create a luxury powerhouse, but it saddled Saks Global with debt at a time when global luxury sales were slowing, complicating an already difficult turnaround for CEO and veteran executive Marc Metrick.

Saks Global struggled last year to pay vendors, who began withholding inventory, disrupting the company’s supply chain and leaving it with insufficient stock.

The thinly stocked shelves may have driven shoppers away to rivals like Bloomingdale’s, which posted strong sales in 2025, compounding pressure on Saks Global.

“Rich people are still buying,” Morningstar analyst David Swartz said last month, “just not so much at Saks.”

Running out of cash, Saks Global last month sold the real estate of the Neiman Marcus Beverly Hills flagship store for an undisclosed amount. It had also been looking to sell a minority stake in exclusive department store Bergdorf Goodman to help cut debt.

On Dec. 30, it failed to make an interest payment of more than $100 million to bondholders.

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Warner Bros. Discovery rejects Paramount’s amended takeover offer

Business 4 Mins Read

Warner Bros. Discovery on Wednesday rejected Paramount Skydance’s amended takeover offer, the latest in a series of rejections in David Ellison’s pursuit of the streaming and cable giant.

The media company said it remains committed to the $82.7 billion deal it reached in December to sell its streaming service, studio and HBO cable channel to Netflix.

‘The Board unanimously determined that the Paramount’s latest offer remains inferior to our merger agreement with Netflix across multiple key areas,’ Warner Bros. Discovery Chairman Samuel Di Piazza said in a statement.

‘Paramount’s offer continues to provide insufficient value,’ he continued.

In a letter to shareholders, Di Piazza wrote that Paramount Skydance’s offer carries ‘significant costs, risks and uncertainties as compared to the Netflix merger.’ The way the Paramount deal is structured creates a ‘lack of certainty’ about its finalization, he added.

Di Piazza adds in the letter that if the company were to agree to the Paramount merger and it failed to close, it would result in a ‘potentially considerable value destruction.’

‘What matters most right now is our focus as we start the year,’ Warner Bros. Discovery CEO David Zaslav said in a memo to employees seen by NBC News. ‘Our operating plans remain unchanged, and our priorities for 2026 are clear and intentional.’

Zaslav wrote that the ‘review was conducted with discipline and rigor, and was supported by independent financial and legal advisors.’

On Dec. 22, Paramount Skydance increased its offer for Warner Bros. Discovery with a personal guarantee from billionaire Larry Ellison, who was backing the financing for the deal. His son, David Ellison, is the CEO of Paramount Skydance.

However, that was not enough for Warner Bros. Discovery. That beefed-up offer followed Warner Bros. Discovery’s Dec. 17 public rejection of Paramount. It also preceded multiple private rejections before Paramount Skydance went public.

In a statement Thursday, Paramount said it remained committed to the offer that WBD has rejected twice. “WBD continues to raise issues in Paramount’s offer that we have already addressed, including flexibility in interim operations,” Paramount said.

At stake is the future of one of the most storied media empires in the United States.

The bidding by Paramount also comes amid a monumental shift in the media and streaming landscape at large. On Monday, Versant Media, the cable network spinoff from Comcast, began trading as an independent company. Shares have plunged more than 20% over the course of those two days. (Comcast is the parent company of NBCUniversal and NBC News.)

On CNBC, Di Piazza said it would be a mistake to compare Warner Bros. Discovery‘s cable networks to Versant. ‘Discovery Global is different, it has a lot more scale,’ he said.

Streaming companies such as Apple, Netflix and Amazon are also challenging traditional broadcasters such as Paramount-owned CBS for sports rights.

Warner Bros. Discovery controls properties ranging from CNN Worldwide and the Discovery Channel to HBO, as well as the Warner Bros. film studio and archive.

Despite the back and forth between Warner Bros. Discovery and Paramount, Netflix has so far proceeded with the deal it inked Dec. 5, under which the world’s largest streaming company would acquire a stake in WBD.

Warner’s cable networks would be spun out into a separate company as part of that deal. However, Paramount Skydance wants to buy everything Warner Bros. Discovery owns.

Paramount’s controlling shareholders, the Ellisons, have suggested they could obtain regulatory clearance more quickly and easily than Netflix.

In mid-2025, the Ellisons acquired Paramount with approval from the Trump administration. But that approval only came after CBS News agreed to pay $16 million to President Donald Trump’s future presidential library over an interview that “60 Minutes” had conducted with then-presidential candidate, Vice President Kamala Harris.

Netflix, for its part, has met with Trump at the White House over the deal. But Trump has said either bidder poses potential problems, in his view.

Netflix said in a statement that it ‘welcomed the Warner Bros. Discovery board of directors’ continued commitment to the merger agreement’ the two companies reached last year. ‘Netflix and Warner Bros. will bring together highly complementary strengths and a shared passion for storytelling,’ Netflix’s co-CEOs Ted Sarandos and Greg Peters said.

Di Piazza said on CNBC that the difference between Paramount’s offer and that of Netflix is that Warner Bros. and Netflix already ‘have a signed merger agreement’ that has ‘a clear path to closing.’ Di Piazza also said the Netflix deal offers ‘protections for our shareholders, if something stops the close, whatever that might be.’

Trump has said he will be personally involved in reviewing whichever merger proceeds.

Paramount did not immediately respond to a request for comment.

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Trump Media to merge with nuclear fusion company

Business 2 Mins Read

Trump Media & Technology will merge with a fusion power company in an all-stock deal that the companies said Thursday is valued at more than $6 billion.

Devin Nunes, the Republican congressman who resigned in 2021 to become the CEO of Trump Media, will be co-CEO of the new company with TAE Technologies CEO Michl Binderbauer.

Shares of Trump Media & Technology, the parent company of President Donald Trump’s Truth Social media platform, have tumbled 70% this year but jumped 20% before the opening bell Thursday.

TAE is a private company and the merger with Trump Media would create one of the first publicly traded nuclear fusion companies.

“We’re taking a big step forward toward a revolutionary technology that will cement America’s global energy dominance for generations,” Nunes said in a prepared statement.

TAE focuses on nuclear fusion, a technology that combines two light atomic nuclei to form a single heavier one. It releases enormous amount of energy, a process that occurs on the sun and other stars, according to the United Nation’s International Atomic Energy Agency.

TAE and Trump Media shareholders will each own approximately 50% of the combined company.

The companies say the transaction values each TAE common stock at $53.89 per share.

At closing, Trump Media & Technology Group will be the holding company for Truth Social and TAE, along with its subsidiaries TAE Power Solutions and TAE Life Sciences.

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Prada Group says it has purchased fashion rival Versace in a deal worth nearly $1.4 billion

Business 3 Mins Read

MILAN — The Prada Group announced Tuesday that it has officially purchased Milan fashion rival Versace in a 1.25 billion euro (nearly $1.4 billion) deal that puts the fashion house known for its sexy silhouettes under the same roof as Prada’s “ugly chic” aesthetic and Miu Miu’s youth-driven appeal.

The highly anticipated deal is expected to relaunch Versace’s fortunes, after middling post-pandemic performance as part of the U.S. luxury group Capri Holdings.

Prada said in a one-line statement that the acquisition had been completed after receiving all regulatory clearances.

Prada heir Lorenzo Bertelli will steer Versace’s next phase as executive chairman, in addition to his roles as group marketing director and sustainability chief.

The son of co-creative director Miuccia Prada and longtime Prada Group chairman Patrizio Bertelli has said he doesn’t expect to make any swift executive changes at Versace. But Bertelli has said that the company, which places among the top 10 most recognized brands in the world, has long been underperforming in the market.

Prada has underlined that the 47-year-old Versace brand offered “significant untapped growth potential.’’

Versace has been in the midst of a creative relaunch under a new designer, Dario Vitale, who previewed his first collection during Milan Fashion Week in September. He had previously been head of design at Miu Miu, but his move to Versace was unrelated to the Prada deal, executives have said.

Capri Holdings, which owns Michael Kors and Jimmy Choo, paid $2 billion for Versace in 2018, but had been struggling to position Versace’s bold profile in the recent era of “quiet luxury.″

Versace represented 20% of Capri Holdings 2024 revenue of 5.2 billion euros. An analyst presentation for the Prada deal said that Versace would represent 13% of the Prada Group’s pro-forma revenues, with Miu Miu coming in at 22% and Prada at 64%. The Prada Group, which also includes Church’s footwear, reported a 17% boost in revenues to 5.4 billion euros last year.

The Prada Group has already begun preparations to incorporate crosstown rival Versace into its Italian manufacturing system, a point of pride for the group.

“Making a bag for one brand or another, the know-how is the same,″ Bertelli told reporters last week at the group’s Scandicci leather goods factory, which already makes bags for the Prada and Miu Miu brands and will soon add Versace.

The Prada Group’s has invested 60 million euros in its supply chain this year, including a new leather goods factory near Siena, a new knitwear factory near Perugia as well as increasing production at its factory Church’s footwear factory in Britain and expanding another Tuscan factory. That’s on top of 200 million euros in investments from 2019-24.

Prada’s efforts include an academy that has trained some 570 new artisans over the last 25 years in an in-house training academy operating in the Tuscany, Marche, Veneto and Umbria regions.

Last year, Prada hired 70% of the 120 artisans who trained in the academy. The number of trainees rose by 28% to 152 this year.

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