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Top 5 Canadian Mining Stocks This Week: Pacific Empire Metals Gains 200 Percent on Drill Results

Statistics Canada released November’s consumer price index (CPI) data on Monday (December 15). The data showed all-items inflation rose 2.2 percent compared to November 2024 and 0.1 percent on a monthly basis compared to October.

One contributor to the rise was a 4.7 percent year-over-year increase in grocery prices, higher than the 3.4 percent annual increase in October and the biggest since the 4.7 percent increase in December 2023.

On the other hand, gasoline prices decreased 7.8 percent year-over-year and natural gas decreased by 16.5 percent, although both drops were slightly lower than their respective 9.4 percent and 17 percent declines recorded in October.

StatsCan also released October’s monthly mineral production survey on Friday (December 19). The data reported that mineral production increased across a wide range of metals month-on-month, with iron concentrate the only one seeing a slight decline.

Gold production increased to 18,470 kilograms compared to 16,978 kilograms in September. Meanwhile, copper production rose to 41.34 million kilograms from 36.23 million kilograms, and silver production jumped to 31,522 kilograms from 28,384 kilograms.

Shipments, however, decreased broadly in October. Gold shipments fell to 15,563 kilograms from 19,025 kilograms, and silver shipments sank to 31,502 kilograms from 33,296. Copper shipments fell more considerably to 36.22 million kilograms from 44.04 million kilograms.

Also this week, the Canadian Government approved the merger between mining giants Teck Resources (TSX:TECK.A,TECK.B,NYSE:TECK) and Anglo American (LSE:AAL,OTCQX:NGLOY) on Monday.

The move clears a major regulatory hurdle for the C$70 billion deal. Federal Industry Minister Mélanie Joly said that as part of the approval process, the companies agreed to spend C$4.5 billion in Canada over five years and employ 4,000 Canadian workers.

Once the deal is finalized, the combined company will be called Anglo-Teck and will be headquartered in Vancouver, making it the largest company in British Columbia’s history.

For more on what’s moving markets this week, check out our top market news round-up.

Markets and commodities react

Canadian equity markets were mixed this week.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) was little changed, gaining just 0.14 percent over the week to close Friday at 31,755.77, while the S&P/TSX Venture Composite Index (INDEXTSI:JX) fared a little better, rising 1.04 percent to 977.98.

On the other hand, the CSE Composite Index (CSE:CSECOMP) fell 8.37 percent to close at 168.68 after rising significantly last week.

The gold price continued an upward trend following last week’s rate cut from the US Federal Reserve. It gained 1.36 percent on the week to reach US$4,338.24 per ounce on Friday at 4 p.m. EST.

Meanwhile, the silver price continued to set new records with another substantial weekly gain of 5.75 percent, reaching a new high of US$67.45 per ounce in morning trading on Friday before slipping to end the day at US$67.18.

In base metals, the COMEX copper price ended the week up 0.73 percent at US$5.50 per pound.

The S&P Goldman Sachs Commodities Index (INDEXSP:SPGSCI) fell 1.47 percent to end Friday at 542.19.

Top Canadian mining stocks this week

How did mining stocks perform against this backdrop?

Take a look at this week’s five best-performing Canadian mining stocks below.

Stocks data for this article was retrieved at 4:00 p.m. EST on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market caps greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.

1. Pacific Empire Minerals (TSXV:PEMC)

Weekly gain: 200 percent
Market cap: C$30.36 million
Share price: C$0.15

Pacific Empire is a gold and copper exploration company focused on its flagship Trident property in central British Columbia, Canada.

Trident consists of a land package covering 6,618 hectares within the Quesnel Terrane and has a history of exploration dating back to its discovery in 1969. The property hosts porphyry mineralization of copper, gold, and silver, with historic drill results at the site including one 102 meter interval grading 0.59 percent copper and 0.24 grams per metric ton (g/t) gold.

Shares in the company gained significantly this week after it released assay results from the upper portion of the first hole of its 2025 winter diamond drill program.

Results from the hole started at a depth of 9 meters and hosted continuous copper-gold mineralization to a depth of 192 meters.

The broad 183 meter interval returned average grades of 0.77 percent copper, 0.51 g/t gold and 3.4 g/t silver over 183 meters. Within that were intervals of 71 meters grading 1.06 percent copper, 0.83 g/t gold and 4.6 g/t silver, and 14.8 meters grading 1.23 percent copper, 0.75 g/t gold and 5.5 g/t silver.

Pacific Empire said the result was the most substantial copper-gold mineralization recorded at Trident to date and that it advances the geological understanding and exploration model for what could be significant porphyry system.

Assays for the lower portion of the first hole and the remaining five holes drilled as part of the campaign are pending.

2. US Copper (TSXV:USCU)

Weekly gain: 72.22 percent
Market cap: C$17.75 million
Share price: C$0.155

US Copper is an exploration company working to advance its Moonlight-Superior project in Northeast California, United States.

The project covers approximately 13 square miles of patented and unpatented federal mining claims in the Lights Creek Copper District, near the Nevada border.

A preliminary economic assessment released on January 6 demonstrated a post-tax net present value of US$1.08 billion with an internal rate of return of 23 percent and a payback period of 5.3 years, assuming a copper price of US$4.15 per pound.

The included mineral resource estimate shows a total indicated resource of 2.5 billion pounds of copper, 21.7 million ounces of silver and 140,042 ounces of gold from 402.83 million metric tons of ore with a grade of 0.31 percent copper, 1.85 parts per million (ppm) silver and 0.012 ppm gold. The majority is hosted at its Moonlight and Superior deposits.

US Copper has not released news since October 14 when it announced the closing of a non-brokered private placement for gross proceeds of C$750,000.

3. Euromax Resources (TSXV:EOX)

Weekly gain: 66.67 percent
Market cap: C$18.87 million
Share price: C$0.025

Euromax Resources is a development and exploration company working to advance its Ilovica-Shtuka copper project in the southeast of North Macedonia, Europe.

The advanced stage project is composed of two concession agreements that cover 17.1 square kilometers and hosts mineralized deposits of copper and gold.

The most recent feasibility study for the Ilovica-Shtuka project, released in 2016, demonstrated a sulphide mineral resource with measured and indicated quantities of 2.6 million ounces of gold and 1.2 billion pounds of copper, with additional oxide quantities of 280,000 ounces of gold.

Shares in Euromax gained this week after it announced on Monday its intention to issue 122.1 million common shares through a non-brokered private placement, generating proceeds of C$3.97 million.

4. Lode Gold Resources (TSXV:LOD)

Weekly gain: 54.67 percent
Market cap: C$10.61 million
Share price: C$0.325

Lode Gold Resources is an exploration company with projects located in Canada and the United States, including its Fremont gold project in California, US, which hosts a past-producing high-grade gold mine.

The mine sits on 3,351 acres in Mariposa County, which has been mined since the start of the California gold rush in the 1840s.

On March 5, Lode Gold released a technical report for the property, which included an updated mineral resource estimate demonstrating an indicated resource of 120,000 ounces with an average grade of 4.13 g/t gold from 910,000 metric tons of ore, with an additional inferred resource of 1.9 million ounces with a grade of 3.96 g/t from 8.53 million metric tons of ore.

The most recent news from the project came on December 9, when Lode announced that it had entered into a letter of intent with an unnamed mining company to begin work advancing the Freemont project toward production.

As part of the deal, the parties agreed to a 45 day standstill period during which Lode will work to raise capital and repay outstanding debts.

Additionally, Lode announced on December 12 that it was appointing David Swetlow as Lode’s new CFO. He has previously worked as CFO for Lode’s subsidiary, Gold Orogen, which was created to spin off its Yukon and New Brunswick properties.

The spin-off was announced in July 2024 as part of Lode’s restructuring bid and would include its Golden Culvert, Win, and McIntyre Brook properties.

5. Canadian Chrome (CSE:CACR)

Weekly gain: 50 percent
Market cap: C$24.71 million
Share price: C$0.015

Formerly KWG Resources, Canadian Chrome is a chromite and base metals exploration company focused on moving forward at its Ring of Fire assets in Northern Ontario, Canada. It does business as the Canadian Chrome Company.

The firm’s properties consist of the Fancamp and Big Daddy claims, along with the Mcfaulds Lake, Koper Lake and Fishtrap Lake projects. All are located within a 40 kilometer radius, and according to the company are home to feeder magma chambers containing chromite, nickel and copper deposits.

Canadian Chrome is currently working with local First Nations to improve transportation to the region by developing road and rail links. The company announced on November 7 that it had signed a memorandum of agreement with AtkinsRéalis Canada in its capacity as a contractor representing the Marten Falls and Webequie First Nations.

The agreement will allow AtkinsRéalis temporary access rights over some mineral exploration claims in support of work permits for an environmental assessment for the design, construction and operation of a multi-use, all-season road between the proposed Marten Falls community access road and the proposed Webequie supply road.

Once completed, the link will provide improved access to communities and mining companies in the region.

On September 11, Canadian Chrome signed an additional agreement with AtkinsRéalis that will provide the firm access rights to parts of the claims for 13 borehole locations for geotechnical investigations and aggregate source testing.

The most recent news from the company came on December 11, when it set the terms of a C$25 million non-brokered private placement originally proposed on August 26. Changes to the original terms were made following the inclusion of chromium as a critical mineral in the Canadian federal budget announced on November 4, which allows investments in chromium projects to qualify for additional tax credits.

The new terms state that, with every 10 flow-through shares subscribed, five flow-through share purchase warrants will be issued, each entitling the holder to purchase one additional flow-through share for C$2.50 at any time within one year.

FAQs for Canadian mining stocks

What is the difference between the TSX and TSXV?

The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.

How many mining companies are listed on the TSX and TSXV?

As of May 2025, there were 1,565 companies listed on the TSXV, 910 of which were mining companies. Comparatively, the TSX was home to 1,899 companies, with 181 of those being mining companies.

Together, the TSX and TSXV host around 40 percent of the world’s public mining companies.

How much does it cost to list on the TSXV?

There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

How do you trade on the TSXV?

Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.

Article by Dean Belder; FAQs by Lauren Kelly.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.

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RETRANSMISSION: LaFleur Minerals Upsizes LIFE and Flow-Through Unit Offerings

LaFleur Minerals Inc. (CSE: LFLR,OTC:LFLRF) (FSE: 3WK0) (‘LaFleur Minerals’ or the ‘Company’ or ‘Issuer’) announces it has amended its previously disclosed non-brokered private placement offering, upsizing it to up to 9,000,000 units of the Company (the ‘Units’) at a price of $0.50 per Unit gross proceeds of up to $4,500,000 (the ‘LIFE Offering’). Each Unit will consist of one (1) common share in the capital of the Company (each a ‘Common Share’) and one (1) Common Share purchase warrant (a ‘Warrant’) granting the holder the right to purchase one (1) additional Common Share of the Company (a ‘Warrant Share’) at a price of $0.75 at any time on or before 36 months from the Closing Date (defined below). The Warrants will no longer be subject to an accelerated expiry, as was previously announced in the Company’s press release dated December 15, 2025.

The gross proceeds from the LIFE Offering will be used for the commissioning and restart of gold production operations at the Company’s wholly-owned Beacon Gold Mine and Mill, as well as work at the Company’s Swanson Gold Project in Quebec and for and general working capital purposes.

The Units will be offered for sale pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions, as amended by CSA Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption, to purchasers resident in Canada, excluding Quebec, and other qualifying jurisdictions.

The securities offered under the LIFE Offering will not be subject to a hold period in accordance with applicable Canadian securities laws. There is an offering document (the ‘Offering Document‘) related to the LIFE Offering that can be accessed under the Issuer’s profile at www.sedarplus.ca and at the Company’s website at www.lafleurminerals.com. Prospective investors should read this Offering Document before making an investment decision.

The terms of the Company’s previously announced flow-through offering (‘FT Offering’) have not changed, refer to the Company’s press release dated December 15, 2025 for more information.

The Company has agreed to pay qualified finders and brokers a cash commission of 7.0% of the aggregate gross proceeds of the LIFE Offering and FT Offering and such number of broker warrants (the ‘Broker Warrants‘) as is equal to 7.0% of the number of Units sold under the LIFE Offering and FT Offering. Each Broker Warrant will entitle the holder to purchase one Common Share at an exercise price equal to the Offering Price for a period of 24 months following the Closing Date.

The closing of the LIFE Offering and FT Offering is expected to occur on or about December 31, 2025 (the ‘Closing Date‘), or such other earlier or later date as the Company may determine.

The Company continues to progress in the closing of its previously announced brokered private placement of gold-linked convertible notes, as announced on November 5, 2025, a financing that aims to raise up to C$7 million to fund the restart of the company’s Beacon Gold Mill in Val d’Or, Quebec.

This news release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the ‘U.S. Securities Act’), and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent an exemption from registration under the U.S. Securities Act and applicable U.S. state securities laws. ‘United States’ and ‘U.S. person’ are as defined in Regulation S under the U.S Securities Act.

About LaFleur Minerals Inc.

LaFleur Minerals Inc. (CSE: LFLR,OTC:LFLRF) (FSE: 3WK0) is focused on the development of district-scale gold projects in the Abitibi Gold Belt near Val-d’Or, Québec. Our mission is to advance mining projects with a laser focus on our resource-stage Swanson Gold Deposit and the Beacon Gold Mill, which have significant potential to deliver long-term value. The Swanson Gold Project is approximately 18,304 hectares (183 km2) in size and includes several prospects rich in gold and critical metals previously held by Monarch Mining, Abcourt Mines, and Globex Mining. LaFleur has recently consolidated a large land package along a major structural break that hosts the Swanson, Bartec, and Jolin gold deposits and several other showings which make up the Swanson Gold Project. The Swanson Gold Project is easily accessible by road allowing direct access to several nearby gold mills, further enhancing its development potential. Lafleur Mineral’s fully refurbished and permitted Beacon Gold Mill is capable of processing over 750 tonnes per day and is being considered for processing mineralized material at Swanson and for custom milling operations for other nearby gold projects.

ON BEHALF OF LaFleur Minerals INC.

Paul Ténière, M.Sc., P.Geo.
Chief Executive Officer
E: info@lafleurminerals.com
LaFleur Minerals Inc.
1500-1055 West Georgia Street
Vancouver, BC V6E 4N7

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Statement Regarding ‘Forward-Looking’ Information

This news release includes certain statements that may be deemed ‘forward-looking statements’. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects’, ‘plans’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘projects’, ‘potential’ and similar expressions, or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’ or ‘should’ occur. Forward-looking statements in this news release include, without limitation, statements related to the closing of the LIFE Offering and the FT Offering, and the anticipated use of proceeds from the LIFE Offering and the FT Offering. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/278557

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Pinnacle Closes First Tranche of Private Placement

(TheNewswire)

Finders’ Fees consisting of $2,940 in cash commission and 21,000 non-transferable finders’ warrants were paid in connection with the Offering.  Each finder’s warrant entitles the holder to acquire one common share at $0.20 cents per share over a 24-month period.  

The net proceeds raised from the Offering will be used to advance the high-grade El Potrero gold-silver project in Durango, Mexico, for project evaluations, and for general working capital.

Insiders of the Company participated in the first tranche, subscribing for a total of 600,000 units and gross proceeds of $84,000.  The participation of the insiders in the Offering will constitute a related-party transaction for the purposes of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions).  The Company is exempt from the requirements to obtain a formal evaluation or minority shareholder approval in connection with the insider participation in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value of the securities issued, nor the fair market value of the consideration for the securities issued will exceed 25 per cent of the company’s market capitalization as calculated in accordance with MI 61-101.  

All securities to be issued will be subject to a four-month hold period from the date of issuance and subject to TSX Venture Exchange approval.  The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

The Company expects to complete the second and final tranche of the Offering by January 30, 2026.

About the Potrero Property

El Potrero is located in the prolific Sierra Madre Occidental of western Mexico and lies within 35 kilometres of four operating mines, including the 4,000 tonnes per day (tpd) Ciénega Mine (Fresnillo), the 1,000 tpd Tahuehueto Mine (Luca Mining) and the 250 tpd Topia Mine (Guanajuato Silver).

High-grade gold-silver mineralization occurs in a low sulphidation epithermal breccia vein system hosted within andesites of the Lower Volcanic Series and has three historic mines along a 500 metre strike length.  The property has been in private hands for almost 40 years and has never been systematically explored by modern methods, leaving significant exploration potential.

A previously operational 100 tpd plant on site can be refurbished / rebuilt and historic underground mine workings rehabilitated at relatively low cost in order to achieve near-term production once permits are in place. The property is road accessible with a power line within three kilometres.  

Pinnacle will earn an initial 50% interest immediately upon commencing production.  The goal would then be to generate sufficient cash flow with which to further develop the project and increase the Company’s ownership to 100% subject to a 2% NSR.  If successful, this approach would be less dilutive for shareholders than relying on the equity markets to finance the growth of the Company.

About Pinnacle Silver and Gold Corp.

Pinnacle is focused on the development of precious metals projects in the Americas.  The high-grade Potrero gold-silver project in Mexico’s Sierra Madre Belt hosts an underexplored low-sulphidation epithermal vein system and provides the potential for near-term production. In the prolific Red Lake District of northwestern Ontario, the Company owns a 100% interest in the past-producing, high-grade Argosy Gold Mine and the adjacent North Birch Project with an eight-kilometre-long target horizon.  With a seasoned, highly successful management team and quality projects, Pinnacle Silver and Gold is committed to building long-term, sustainable value for shareholders.

Signed: ‘Robert A. Archer’

President & CEO

For further information contact:

Email:        info@pinnaclesilverandgold.com

Tel.:  +1 (877) 271-5886 ext. 110

Website: www.pinnaclesilverandgold.com

 

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

   

Copyright (c) 2025 TheNewswire – All rights reserved.

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Freegold Ventures Limited Announces $30 Million Brokered Private Placement Financing

/NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA/

 Freegold Ventures Limited (TSX: FVL,OTC:FGOVF) (OTCQX: FGOVF) (the ‘Company’ or ‘Freegold Ventures’), is pleased to announce that it has entered into an agreement with Paradigm Capital Inc. (‘Paradigm’), pursuant to which Paradigm will act as lead agent and sole bookrunner on behalf of a syndicate of agents (together with Paradigm, the ‘Agents’) to be formed in connection with a proposed brokered ‘best efforts’ private placement financing (the ‘Offering’) for total gross proceeds of $30,000,100, consisting of 23,077,000 common shares of the Company (the ‘Common Shares’) at a price of $1.30 per Common Share (‘Issue Price’).

The Company will grant the Agents an option (the ‘Agents’ Option‘) to sell up to that number of additional Common Shares equal to 15% of the base Offering size, exercisable, by notice in writing to the Company, at any time not less than 48 hours prior to the Closing Date.

The net proceeds from the Offering will be used to complete a Pre-Feasibility Study for the Golden Summit Project, to support ongoing exploration, and for general corporate and working capital purposes. Management believes that these funds will further strengthen the Company’s ability to advance the Golden Summit Project as it moves the project through the pre-feasibility stage.

The Common Shares will be offered for sale pursuant to Part 5A of National Instrument 45-106 – Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the ‘Listed Issuer Financing Exemption‘), to purchasers resident in each of the provinces of Canada (other than Québec), and in other qualifying jurisdictions outside of Canada that are mutually agreed to by the Company and the Agents pursuant to relevant prospectus or registration exemptions in accordance with applicable laws. As the Offering is being completed pursuant to the Listed Issuer Financing Exemption, the Common Shares issued in the Offering will not be subject to a hold period in Canada pursuant to applicable Canadian securities laws.

There is an offering document related to this Offering that can be accessed under the Company’s profile at www.sedarplus.ca and on the Company’s website at www.freegoldventures.com. Prospective investors should read this offering document before making an investment decision.

The Offering is expected to close on or about January 6, 2026 (the ‘Closing Date‘) and will be subject to regulatory approvals and customary closing conditions, including listing of the Common Shares on the Toronto Stock Exchange.

The Agents will be entitled to, on the Closing Date, a cash commission equal to 5% of the gross proceeds of the Offering including on any exercise of the Agents’ Option.

The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the ‘U.S. Securities Act‘), or any U.S. state securities laws, and may not be offered or sold in the United States without registration under the U.S. Securities Act and all applicable state securities laws or compliance with the requirements of an applicable exemption therefrom. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor may there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Freegold Ventures Limited

Freegold Ventures is a TSX-listed company focused on exploration in Alaska.

Forward-looking Information Cautionary Statement

This press release contains statements that constitute ‘forward-looking information’ (collectively, ‘forward-looking statements’) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this press release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as ‘expects’, or ‘does not expect’, ‘is expected’, ‘anticipates’ or ‘does not anticipate’, ‘plans’, ‘budget’, ‘scheduled’, ‘forecasts’, ‘estimates’, ‘believes’ or ‘intends’ or variations of such words and phrases or stating that certain actions, events or results ‘may’ or ‘could’, ‘would’, ‘might’ or ‘will’ be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements contained in this press release, include, without limitation, statements regarding the receipt of TSX final approval for the Offering and the use of proceeds from the Offering. In making the forward-looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and unknown risks, uncertainties, and other factors may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: availability of financing; delay or failure to receive required permits or regulatory approvals; and general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise. See Freegold’s Annual Information Form for the year ended December 31, 2024, filed under Freegold’s profile at www.sedarplus.ca, for a detailed discussion of the risk factors associated with Freegold’s operation.

SOURCE Freegold Ventures Limited

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2025/18/c0220.html

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Analysts React: Trump Signs Executive Order to Reschedule Cannabis

The long-debated issue of US cannabis rescheduling is finally back in the spotlight.

On Thursday (December 18), President Donald Trump signed an executive order to expedite the process of moving cannabis from Schedule I to Schedule III under the Controlled Substances Act. Market watchers are now assessing what such a shift could mean for the industry, from taxation and access to broader investment potential.

What do industry experts think about cannabis rescheduling?

Sasha Nutgent, vice president of cannabis retail, Housing Works Cannabis

As it stands today with the current classification, retailers are not incentivized to operate legally. Reclassification would change that for thousands of businesses, especially those owned by folks from communities most impacted by the war on drugs.

Anthony Coniglio, CEO of NewLake Capital Partners (OTCQX:NLCP)

We welcome President Trump’s directive to the Department of Justice to finalize the rescheduling of cannabis from Schedule I to Schedule III. This represents a historic and long-overdue alignment of federal policy with scientific evidence, medical practice and the regulatory reality already functioning across most US states.

Now, follow through is critical. We urge the DOJ and DEA to move swiftly to issue the Final Rule and complete the rescheduling process. Doing so would finally remove the punitive burden of Section 280E, allowing compliant, state-licensed operators to reinvest in growth, innovation and workforce development across the nearly half-million Americans employed in this industry. This is not about legalization — it’s about legitimacy. Responsible operators have long followed strict state-level compliance frameworks that prioritize safety, transparency and consumer protection. Rescheduling would rightfully distinguish these businesses from illicit markets and allow federal enforcement to focus where it truly belongs: on criminal cartels, not compliant small businesses. This announcement is a milestone, not a finish line. Congress must build on this momentum by passing the bipartisan SAFER Banking Act and advancing STATES 2.0 to create a durable national framework that strengthens safety, access and accountability for all stakeholders.

Harrison Bard, CEO and co-founder, Custom Cones USA and DaySavers

Rescheduling will further stack the odds against small operators, but this type of change is a long-overdue step toward treating cannabis like the legitimate medicine so many veterans already rely on. For years they’ve been forced to navigate stigma, inconsistent access and out-of-pocket costs just to manage pain, PTSD and other service-related conditions. A more rational federal framework won’t solve everything, but it moves us closer to the kind of recognition, research and support our veterans deserve. At DaySavers, we’ve tried to honor that community in our own small way through our ‘Cones for a Cause’ line, which sends a portion of proceeds directly to the Weed for Warriors Project. Veterans have carried the weight for the rest of us; it’s time our policies — and our industry — carry some of it back.

Chris Fontes, founder and CEO, High Spirits

While any incremental progress for normalizing cannabis is worth celebrating, Schedule III is not the savior the industry believes it to be. The requirements for legal participation in a Schedule III market are burdensome, and it’s unlikely that any significant portion of the industry will be able to properly participate.

Relief from 280e is exciting, but selling a Schedule III drug without drug approval, licensure, etc. is still quite illegal. Sadly, this will not be the win the industry wants it to be, and much more work is yet to be done. Further, let’s not forget we already have some version of cannabis that is completely descheduled, and we’re still fighting to keep it that way.

Therefore, we should be cautious to simultaneously celebrate marijuana moving to Schedule III while also ignoring — or in some cases, celebrating — the rescheduling of hemp products that are currently off the schedule all together.

Will cannabis rescheduling improve access to banking?

Sierra Elaina, CEO, Lehua Brands

Rescheduling cannabis would be a turning point for an industry that’s been operating under impossible conditions. Treating cannabis as a Schedule I drug has restricted banking, crushed margins through unfair tax rules and prolonged stigma that no longer reflects reality. This change could finally legitimize cannabis as a regulated business — one with access to banking, fair taxation and a path forward for operators who have been hanging on by a thread.

Terry Mendez, CEO, Safe Harbor Financial

President Trump’s rescheduling cannabis by executive order marks a significant shift in tone from Washington and a meaningful moment for an industry long stuck in legal limbo. Reclassifying cannabis as Schedule III would acknowledge its medical legitimacy and begin to correct a half-century of misguided federal policy.

That said, rescheduling is not reform. The core challenges around cannabis banking such as compliance burdens, cash dependency and regulatory uncertainty would remain unchanged. The industry would still fall under the Bank Secrecy Act, with all its reporting and monitoring obligations intact. This moment is likely to invite broader interest from financial institutions, but without structural reform or updated guidance, many will remain cautious. A true fix requires a coordinated federal framework that aligns financial policy with the realities of a US$38 billion state-legal industry. Any step forward is welcome, but incremental progress should not be mistaken for a comprehensive solution. The cannabis sector deserves financial clarity, not just legal signals.

Ryan Hunter, chief revenue officer, Spherex

Cannabis is still federally illegal — but even as a federally illegal substance — the move to Schedule III dramatically reduces the federal tax burden for operators. Under IRS code 280E, handling Schedule I or Schedule II substances eliminates the ability for operators to deduct standard operating expenses that most other businesses deduct from their federal taxes. As a result of 280E, cannabis operators’ effective tax rate may be as high as 80 percent.

Beyond this significant improvement, the implications are unclear, but we’re hopeful that this move will allow for cannabis operators to garner the same investment opportunities other industries will enjoy.

Joe Gerrity, CEO, Crescent Canna

If marijuana is reclassified to Schedule III, it immediately strengthens the regulated marijuana industry by eliminating 280E and recognizing legitimate medical uses — but the more important ripple effect is what it means for hemp. With hemp THC products set to be effectively banned next November without new legislation, a federal move to loosen restrictions on marijuana while simultaneously eliminating a thriving hemp market is completely illogical and contradictory. Reclassification increases the likelihood that Congress and the federal government will move toward a coherent framework that keeps hemp products legal but properly regulated.

Mark Lewis, president of Specialty Payments, Lüt

Make no mistake, rescheduling is just the beginning for those working in the cannabis industry. Until the SAFE Banking Act or 280E is passed, operators will still have to jump through challenging financial hoops to pay their staff, bills or garner investment. The moment is historic, but until cannabis businesses can operate fiscally with the same ease as any other business, more work needs to be done.

Payments still need to work in the reality of today, where the ongoing threat of card network shutdowns exists, not just the promise of future reform. While rescheduling may open doors over time, it does not remove the day-to-day financial friction that cannabis operators face right now.

Lüt is uniquely positioned to support the cannabis industry and help businesses grow safely, compliantly and confidently.

Adam Stettner, CEO, FundCanna

Rescheduling cannabis to Schedule III will deliver immediate, measurable impacts. Most notably, it eliminates Section 280E from the federal tax equation for licensed operators — a change that, for many, is the difference between treading water and turning a profit. It also unlocks long-blocked research pathways, enabling rigorous clinical studies, standardized formulations, and a new era of product innovation.

Additionally, it has catalyzed a broader shift across the industry pushing cannabis businesses to adopt more institutional practices around banking, compliance, financial reporting and governance.

What would rescheduling mean for medical cannabis?

Ryan Hunter, chief revenue officer, Spherex

The real win here is for medical cannabis. By moving cannabis to Schedule III, Cannabis will be treated similarly to ketamine, Tylenol + Codeine and anabolic steroids — all drugs that have been approved by the FDA for use with a doctor’s prescription. Not only will those in states without medical cannabis programs gain access, but as markets evolved to recreational programs, many remedies for patients have been left behind due to the dramatically larger demand for adult use products relative to medical products. At Schedule III, it’s much more practical for mainstream physicians to prescribe cannabis products.

Alex Gonzalez, president and co-founder, Calyx Containers

Whenever the White House moves forward with Schedule III, the federal government is effectively telling us that cannabis is medicine. And if it’s medicine, ‘good enough’ cannabis practices won’t cut it anymore. Whether rescheduling happens next month or next year, the direction is clear: cannabis is moving toward pharma-grade standards. For brands, that means tightening quality systems, investing in the ability to react or scale and preparing for a regulatory-ready supply chain. We’re seeing the smart operators on shoring infrastructure and we’re positioning our domestic production and business model on being ready to help operators turn this moment into a competitive advantage.

Mark Lewis, president of specialty payments, Lüt

Rescheduling is the single most important drug policy move in decades. The potential opportunities for medical and scientific research will significantly increase, while those living in states without an existing medical program will now have access to the powerful healing properties of the plant.

Ali Garawi, co-founder, CEO and CFO, Muha Meds

If Trump moves to reschedule cannabis, it would be a long-overdue acknowledgment that this plant never belonged in the most restrictive drug category. Cannabis has centuries of real-world use behind it for pain management, appetite and sleep, yet it has been trapped in a legal framework built on fear, stigma and misinformation. Federal prohibition hasn’t protected consumers — it has only created impossible hoops for legitimate businesses to jump through.

While cannabis should be entirely descheduled, rescheduling is an important move forward. It would create space for common-sense regulation, banking access, medical research and consumer protections that should have existed years ago. For consumers, that means safer products, better testing standards, more consistent access and pricing that reflects a functioning, regulated market rather than prohibition-era risk.

At a time when the country is facing an ongoing overdose and mental health crisis, continuing to treat cannabis as a threat is nonsensical. Rescheduling would not solve everything, but it would be a meaningful step toward replacing outdated ideology with education, safety and public health reality.

Josh Kesselman, publisher, High Times Magazine; founding force behind RAW Rolling Papers

I, among others in the industry, are very concerned that Trump’s news of rescheduling is a false flag!

Moving THC to Schedule III would allow big pharma to launch their synthetic THC pills available by prescription only at huge costs and subject current dispensaries to a whole new set of felonies under the FDCA (Food and Drug Cosmetic Act). These “new” federal crimes include selling a prescription drug without a license, dispensing a drug without a prescription, misbranding a drug, illegal distribution, conspiracy and more!

In fact, the penalties under Schedule III actually increase, not decrease, depending on what a federal prosecutor chooses to charge a seller or grower with.

Gennaro Luce, founder and CEO, CannaLnx, powered by EM2P2

Rescheduling is an important and overdue shift for patient-centric healthcare, but the move to Schedule III alone isn’t enough to make medical cannabis more accessible or affordable. Schedule III puts cannabis in the same drug class as certain types of Tylenol, but what does that mean for patients? We hope it means more will be able to access their medicine through insurance plans and traditional doctors.

But insurers still need verification, compliance and eligibility frameworks before they can treat medical cannabis like a real benefit. That part of the system is still missing from the national conversation — fortunately, it’s the medical-cannabis system piece we’ve already built and tested alongside physicians, patients, dispensaries, POS systems and insurers.

Gibran Washington, CEO, Ethos

Rescheduling cannabis from Schedule I to Schedule III is a long-overdue acknowledgment of what patients, providers and responsible operators have known for years: this plant has real therapeutic value, and the current federal posture has been holding progress back. Rescheduling won’t fix every challenge in front of us, but it finally moves us in the right direction opening clearer pathways for research, easing unnecessary barriers for patients and creating a more functional regulatory environment for operators who are doing this the right way.

At Ethos, our commitment has always been to education, science and access. This shift should be the beginning of broader reforms that address affordability, equity and the stigma that still shadows this industry. If done thoughtfully, rescheduling can be a catalyst for a more transparent, patient-centered and responsible cannabis ecosystem.

JP Doran, CEO, Crucial Innovations

We applaud the US government for undertaking the most significant reform in federal cannabis policy since the 1970s. While rescheduling stops short of full federal legalization, it meaningfully reduces research barriers, modernizes regulatory oversight and formally acknowledges the medical value of cannabis within federal policy.

Because this development comes from the world’s largest pharmaceutical market, its impact extends far beyond US borders. It is expected to catalyze international momentum, encouraging regulators in the UK, EU, South Africa and other emerging markets to revisit outdated frameworks, align with evolving scientific evidence and create clearer pathways for medical cannabis innovation. Greater regulatory convergence will help unlock cross-border research, harmonize quality standards and expand patient access globally. As global markets respond to this shift, rescheduling stands to accelerate the development, approval and international distribution of next-generation cannabis-based medicines. We welcome reforms that advance transparency, safety and patient access, and we look forward to contributing to a more connected, science-driven global cannabis ecosystem.

Betty Aldworth, co-executive director, MAPS; chair of the Marijuana Policy Project

The recently reported intent to reschedule cannabis by executive order marks a symbolic victory and a recalibration of decades of federal misclassification. If enacted, reclassifying cannabis as a Schedule III substance would be a long-overdue acknowledgment of its medical utility and a sharp rhetorical shift from Washington.

But symbolism is not structural reform. Rescheduling alone will not untangle the web of barriers facing cannabis consumers and the industry that serves them. It will not resolve the profound dangers of cash-only operations. It will not eliminate the risks to cannabis consumers embedded in housing policy, immigration policy, workplace drug testing, or family law. It will not establish the regulatory clarity required for millions of patients to receive insurance coverage when they choose cannabis over pharmaceutical interventions that may offer less benefit or carry greater risk.

This moment will generate headlines and optimism, but without comprehensive federal reform to address continued criminal sanctions, collateral consequences and financial obstructions faced by cannabis businesses, the communities most impacted by prohibition will continue to face disproportionate barriers.

Cannabis regulation is not a fringe experiment — it is a $38 billion economic engine operating under state-legal frameworks in nearly half of the country that has delivered overall positive social, educational, medical and economic benefits, including correlation with reductions in youth use in states where it’s legal. Cannabis policy must catch up to political reality. Anything less is not reform. It’s a delay.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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Equity Metals Closes Non-Brokered Charity/Premium Flow-Through Private Placement

Equity Metals Corporation (TSXV: EQTY,OTC:EQMEF) (FSE: EGSD) (OTCQB: EQMEF) (the ‘Company’) reported that it has closed its previously announced non-brokered flow-through private placement by issuing a total of 20,000,000 CharityPremium flow-through units (‘FT Units’) at $0.23 for gross proceeds of $4.6 million (the ‘Offering’). Each FT Unit consists of one flow-through common share and one-half of one non-flow-through share purchase warrant. Each whole warrant entitles the holder thereof to purchase one non-flow-through common share for a period of 3 years at a price of $0.40.

The proceeds received from the sale of the FT Units will be utilized for the continued exploration and resource expansion at the Silver Queen Au-Ag-Zn vein project and for surface work and drilling on the Au-Ag Arlington property.

The Company paid finders’ fees totalling $79,264 and issued an aggregate 495,400 non-transferable finder warrants in connection with the Offering. Each finder warrant is exercisable to purchase one common share for a period of 3 years at a price of $0.40. All securities issued and sold under the Offering are subject to a hold period expiring on April 18, 2026. The Offering and the payment of finders’ fees is subject to TSX Venture Exchange acceptance.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the ‘1933 Act’) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.

Arlington Property

The Company announces that it has completed the final option payment and has now earned a 100% interest in the Arlington property located within the Boundary District of south-central British Columbia. The vendor retained a 2% net smelter return royalty, 1% of which may be purchased by the Company at any time for $1,000,000.

About Silver Queen Project

The Silver Queen Project is a premier gold-silver property with over 100 years of historic exploration and development and is located adjacent to power, roads and rail with significant mining infrastructure that was developed under previous operators Bradina JV (Bralorne Mines) and Houston Metals Corp. (a Hunt Brothers company). The property contains an historic decline into the No. 3 Vein and the George Lake Vein, as well as camp infrastructure and a maintained Tailings Facility.

The Silver Queen Property consists of 45 mineral claims, 17 crown grants, and two surface crown grants totalling 18,852ha with no underlying royalties. Mineralization is hosted by a series of epithermal veins distributed over a 6 sq km area. An updated NI43-101 Mineral Resource Estimate with effective date December 1st, 2022 was detailed in a News Release issued on January 16, 2023, which can be found by clicking here and the full Technical Report can be found on SEDAR+ and the Company’s website.

More than 20 different veins have been identified on the property, forming an extensive network of zoned Cretaceous- to Tertiary-age epithermal veins. The property remains largely under explored.

About Equity Metals Corporation

Equity Metals Corporation is a Malaspina-Manex Group Company. The Company owns 100% interest, with no underlying royalty, in the Silver Queen project, located along the Skeena Arch in the Omineca Mining Division, British Columbia. The property hosts high-grade, precious- and base-metal veins related to a buried porphyry system, which has been only partially delineated. The Company also has a controlling JV interest (57.49%) in the Monument Diamond project, NWT, strategically located in the Lac De Gras district within 40 km of both the Ekati and Diavik diamond mines and a 100% interest in the Arlington Au-Ag-Cu property in Southern BC.

Robert Macdonald, MSc. P.Geo, is VP Exploration of Equity Metals Corporation and a Qualified Person as defined by National Instrument 43-101. He is responsible for the supervision of the exploration on the Silver Queen project and for the preparation of the technical information in this disclosure.

On behalf of the Board of Directors

‘Joseph Anthony Kizis, Jr.’

Joseph Anthony Kizis, Jr., P.Geo
President, Director, Equity Metals Corporation

For further information, visit the website at https://www.equitymetalscorporation.com; or contact us at 604.641.2759 or by email at corpdev@mnxltd.com.

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

This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Forward-looking statements in this news release include TSX Venture Exchange approval of the Offering and the Company’s plans to advance the Silver Queen and Arlington projects. Factors that could cause actual results to differ materially from those in forward-looking statements include the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Equity Metals Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.

This news release is not intended for distribution to United States newswire services or dissemination in the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/278594

News Provided by Newsfile via QuoteMedia

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Oil and Gas Market Forecast: Top Trends for Oil and Gas in 2026

The oil and gas market was punctuated with volatility in 2025.

Oil prices softened as supply outpaced demand and inventories built. Brent and West Texas Intermediate (WTI) crude slipped in late 2025, with Brent dipping below US$60 per barrel and WTI hovering at US$55.

Production increases from non-OPEC producers — including record US output — and higher OPEC+ quotas have contributed to a notable supply overhang, pressuring crude toward four year lows.

Starting the year above US$70, both Brent and WTI prices have now seen steep declines of more than 20 percent amid signs of weaker demand in major economies like China and elevated global stocks.

Meanwhile, the natural gas market saw price shifts driven by weather and storage dynamics.

Prices started the year at US$3.64 per million British thermal units and slipped to a seasonal low of US$2.74 in August. Values peaked at US$5.31 on December 5, and have since retreated to the US$3.94 level.

The US Energy Information Administration (EIA) raised its outlook for late 2025 and early 2026 gas prices after an early cold snap bolstered heating demand, even as forecasts have moderated Henry Hub projections for 2025 to 2026.

Oil market battles persistent headwinds

2025 saw oil prices fluctuate between highs of US$81.86 (Brent) and US$78.99 (WTI) and lows of US$59.41 and US$55.56, respectively, as the energy market served as a barometer of global political and trade tensions.

“Throughout the year, prices have continued the downtrend they began in April (2024) as OPEC+ continued to hike output and China’s economy continued to struggle under the weight of a flailing property sector, downbeat consumer confidence, overindebted local governments and flagging external demand,” he added.

While the oil market isn’t new to volatility, this year proved different as US President Donald Trump’s on-again, off-again tariffs infused global uncertainty into the energy market.

“We can see that Trump’s ‘Liberation Day’ tariffs pushed prices down to a level from which they’ve not recovered from, barring a spike in June as a result of the 12 day Iran-Israel war,” said Cunningham.

“Since then, Brent crude oil prices have continued to fall as OPEC+ caught the market off guard with its aggressive output hikes, which were designed to win back market share from non-cartel producers.’

Demand growth, underinvestment reshape oil outlook

Meanwhile, OPEC is approaching full production capacity, with Saudi Arabia being the main exception.

“Even though people are talking about lots of supply, demand is still growing,” Schachter said, noting that global oil demand rose roughly 1.3 million barrels per day in 2025 and is expected to increase by about 1.2 million in 2026.

New supply additions are limited, he explained, mentioning Guyana’s offshore discoveries by ExxonMobil (NYSE:XOM), some output from Brazil and minor contributions from Canada.

“Most basins are tired, and not enough money is being spent to bring on production,” Schachter said, predicting that global inventory drawdowns in 2026 will support higher prices.

Despite lack of investment at the exploration level, FocusEconomics panelists are forecasting a rise in both oil and gas supply in 2026 fueled by output growth at existing operations.

Cunningham pointed to organizations like the EIA and International Energy Agency (IEA), which “hiked their forecasts in recent months in response to OPEC+ increasing output unexpectedly fast and the recent surge in demand for US LNG.”

“The real question is not if oil and gas production will increase, but by how much,” said Cunningham.

A ramp up could be curtailed by geopolitical disruptions, he went on to note.

“Recent frictions between members of the OPEC+ cartel will persist, with Russia likely to favor lower production levels given US sanctions and countries like Saudi Arabia and the United Arab Emirates eager to push production higher given their excess capacity and desire to win back market share from non-OPEC+ producers,” he said.

“Moreover, countries like Kazakhstan and Iraq continue to overshoot their quotas, and in late 2023 Angola left the cartel due to disputes over its allowed production level.”

Transport and petrochemicals driving oil demand

Global oil demand is expected to rise in 2026, driven primarily by transportation fuels and petrochemical feedstocks.

Gasoline is projected to lead the increase, supported by recovering air travel and road mobility, while diesel and other products also contribute. Non-OECD regions, particularly China and India, will account for most of the growth, with expanding petrochemical capacity in major economies boosting crude-derived feedstock demand.

Overall, transport and industrial activity remain the key engines behind the expected rise in oil consumption.

“Our panelists see world oil production rising 1.1 percent in 2026 as non-OPEC+ countries such as Guyana and the US hike output,” said FocusEconomics’ Cunningham.

LNG expansion fuels gas growth

Similar to the trajectory for oil, natural gas demand is expected to rise in 2026 as global consumption rebounds and LNG exports expand sharply. “The IEA (is) estimating growth at around 2 percent with consumption at an all-time high on higher demand in the industrial and electricity sectors,” said Cunningham.

Rising LNG supply — with new export capacity coming online in the US, Canada and Qatar — is projected to support stronger import growth, particularly in Asia, where demand is expected to rebound after a 2025 slowdown.

“Asia is hungry for LNG; the IEA estimates the region’s natural gas demand will rise over 4 percent in 2026, with LNG imports up by 10 percent,” the expert said. Increased use of natural gas in power generation and industrial sectors will also contribute to growth, helping push global gas demand toward a new peak next year.

“Of course, these forecasts could change quickly if the world economy or the oil and gas sector is subject to further shocks, which is why we recommend regularly checking the latest forecasts that are available,” Cunningham added.

Further ahead, Schachter argued that rising global power needs will underpin long-term demand for natural gas, particularly as alternatives struggle to scale. Aging power grids are another constraint. Much of the world’s electricity infrastructure has not been meaningfully upgraded, and expanding capacity will require major investment in transmission — driving demand for copper, steel and aluminum alongside new generation.

Against that backdrop, Schachter sees LNG as central to meeting near- and medium-term power needs.

“The demand for LNG is the story,” he said, adding that natural gas is increasingly viewed not as a temporary transition fuel, but as “the most efficient, from a climate and environmental point of view.”

He also highlighted Canada’s advantage as producers invest heavily in emissions-reduction technologies, including methane mitigation. That positioning could make Canadian LNG more attractive to import-dependent nations such as Japan and South Korea.

While new supply from Qatar and the US will add capacity, Schachter cautioned that LNG development is rarely linear, pointing to Canada’s decades-long path to its first operating export terminal. Despite inevitable delays and short-term imbalances, he said the long-term outlook remains clear: “The industry’s fundamentals are very, very positive.”

Cunningham also pointed to increased output from the US and Qatar as key areas to watch in 2026.

“The big Qatari and US LNG projects will help natural gas prices converge globally — our Consensus Forecast is for the percentage difference between US gas prices (which tend to be lower due to huge domestic production) and those in Asia and Europe to ease to the lowest level since 2020, the year the pandemic sent gas demand plummeting,” said Cunningham, adding, “In short, record US LNG shipments will send up prices at home and lower them abroad.”

Cunningham went on to explain that unlike oil, in the natural gas market there tends to be more price divergence between regions as natural gas is harder to transport over large distances. Oil can be poured into a barrel and shipped, whereas natural gas first needs to be liquified if it’s to be sent overseas. Greater LNG capacity will help bridge this gap.

Oil and gas price forecast for 2026

Schachter expects WTI to average over US$70 in 2026, with Brent around US$73 to US$74.

He anticipates some volatility early in the new year, saying that in Q1 he expects trading to be “still sloppy between US$56 and US$66,” before prices rise in Q2 to US$62 to US$72. From there, he sees prices reaching US$68 to US$78 in the year’s third quarter as inventories tighten and market fundamentals assert themselves.

“People think we’re going back to US$80 today. US$58 oil — it ain’t going to US$80. But when the industry is in rational supply and demand, prices climb, especially when inventories draw down quickly,” Schachter said, recalling the 2008 peak in oil prices near US$147 during extreme supply shortages.

Looking at the year ahead, FocusEconomics expects the trends of 2025 to continue.

“Average Brent crude oil prices will ease further to a post-pandemic low, while US natural gas prices will increase to the highest average level since 2014 barring 2022’s Russia-Ukraine-war-driven spike,” said Cunningham.

“OPEC+ is set to continue raising output — after a pause in Q1 2026 — and the global economy should slow as the boost from export front-loading ahead of US tariff wanes.”

Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

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