Gold Explorers Accelerate Drilling Programs as Producers Report Strong Margins Above $4,100

2025-11-12

Issued on behalf of GoldHaven Resource Corp.

VANCOUVER – Equity Insider News Commentary — Mining companies across the development spectrum are advancing strategic programs as gold trades above $4,100 per ounce this week[1], with junior explorers reporting drill completions and awaiting assays while established producers deliver quarterly results that demonstrate the sector’s profit potential at elevated prices. Gold futures opened at $4,124 per ounce Tuesday and reached as high as $4,155 in early trading, extending a rally that has pushed the metal up 56% year-to-date[2]. Companies positioned to benefit from this environment through exploration discoveries, resource expansion, and production growth include GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF), IAMGOLD Corporation (NYSE: IAG) (TSX: IMG), Equinox Gold Corp. (NYSE-American: EQX) (TSX: EQX), New Found Gold Corp. (NYSE-American: NFGC) (TSXV: NFG), and Galiano Gold Inc. (NYSE-American: GAU) (TSX: GAU).

Major producers with all-in sustaining costs averaging around $1,400 per ounce are generating unprecedented margins at current price levels, enabling increased investment in exploration, operational expansion, and strategic acquisitions that could reshape the industry landscape[3]. Central banks purchased 220 tonnes in Q3 2025 with year-to-date accumulation reaching 634 tonnes, providing structural support that suggests the current elevated pricing environment may persist longer than historical cycles[4].

GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF), a Canadian junior exploration company, recently announced the completion of its fifth diamond drill hole at the Copeçal Gold Project in Brazil’s Mato Grosso State. Hole CO-05 represents the first test of the project’s Western Target, marking a significant step in the company’s systematic exploration program.

The 140-meter drill hole intersected a thick saprolite horizon approximately 50 meters in vertical depth, underlain by sheared basement gneiss and muscovite schist. These rock types match those found in earlier drilling, confirming structural continuity across GoldHaven’s 3,681-hectare property in the Juruena Gold Province. The Western Target features coincident gold-in-soil and geophysical anomalies that suggest a continuation of the potentially mineralized structural corridor observed in the eastern portion of the property.

GoldHaven has planned for three additional holes as part of its ongoing reconnaissance drilling program, designed to systematically test anomalous gold-in-soil signatures and electromagnetic features across both target areas. The company previously completed four diamond drill holes totaling 420 meters at the East Anomaly, intersecting altered rock sequences typically associated with gold-bearing hydrothermal systems over 10 to 15 meters in estimated true width.

Assay results from the first two drill holes at the Eastern Target are expected within the next two weeks, with results from holes CO-03 through CO-05 to follow once received and validated by GoldHaven’s technical team.

“The completion of Hole CO-05 marks an important milestone as we advance systematic testing of the Copeçal targets,” said Rob Birmingham, CEO of GoldHaven. “The identification of a thicker-than-anticipated saprolite profile and the transition into sheared basement rocks provide key geological information for refining our exploration model.”

The Copeçal project sits within the Alta Floresta Gold Province, a historically productive region hosting multiple deposit styles including G-Mining’s Tocantinzinho deposit and recently identified porphyry and epithermal systems. Previous exploration by AngloGold Ashanti from 2010 to 2016 identified multiple zones of anomalous gold mineralization through systematic drilling and geophysical surveys.

Beyond Brazil, GoldHaven continues building its portfolio in British Columbia, where the company recently acquired the Hamel claims covering 429.46 hectares within its flagship Magno Project. The acquisition expands the company’s district-scale land position to 36,002.99 hectares in the Cassiar region, where multiple mineralization styles suggest a related series of mineralizing events controlled by the 72-million-year-old Cassiar Stock granite.

GoldHaven’s project portfolio includes claim packages totaling 123,900 hectares distributed across properties in British Columbia and Brazil, supported by a comprehensive 43-101 Technical Report for Copeçal.

For a full profile of GoldHaven Resources click here.

CONTINUED… Read this and more news for GoldHaven Resources at:

6-Kilometer Gold Anomaly: Results Expected Soon. The Real Drilling Starts Now.

In other industry developments and happenings in the market include:

IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) delivered record quarterly production of 190,000 attributable ounces in Q3 2025, bringing year-to-date totals to 524,000 ounces as its flagship Côté Gold Mine produced 106,000 ounces marking the second consecutive quarter averaging over 30,000 ounces per month. The company reported revenues of $706.7 million from sales at an average realized gold price of $3,492 per ounce with trailing twelve-month EBITDA now exceeding $1 billion.

“Financially, with a strong third quarter and rising gold prices, the Company has been able to accelerate our strategic initiatives,” said Renaud Adams, CEO of IAMGOLD Corporation. “Our trailing twelve-month EBITDA now exceeds $1 billion, and we have repaid approximately $270 million of our second lien notes, further strengthening our balance sheet and financial flexibility.”

Looking ahead, the company is initiating a share buyback program for up to 10% of outstanding common shares subject to regulatory approvals, while advancing expansion plans at Côté Gold and pursuing acquisitions to consolidate the Chibougamau region in Quebec to create the Nelligan Complex.

Equinox Gold Corp. (NYSE-American: EQX) (TSX: EQX) achieved record production of 236,382 ounces in Q3 2025 with all-in sustaining costs of $1,833 per ounce as Greenstone continued operational improvements and Valentine poured first gold ahead of schedule on September 14, 2025. The company sold 239,311 ounces at an average realized gold price of $3,397 per ounce while generating mine-site free cash flow of $304.3 million and reducing net debt by $201.7 million during the quarter to $1,278.2 million.

“Equinox Gold delivered another solid quarter with record production of 236,382 ounces and all-in sustaining costs of $1,833 per oz,” said Darren Hall, CEO of Equinox Gold Corp.

The company strengthened its balance sheet by retiring $139.3 million of debt during the quarter with an additional $170 million repaid post-quarter on second lien notes, while adding $88 million in cash from the sale of Nevada assets. With Greenstone and Valentine ramping up, Equinox Gold is entering 2026 with growing Canadian production, available liquidity of $707.2 million, and a clear strategy to maximize per-share value through operational excellence and continued debt reduction.

New Found Gold Corp. (NYSE-American: NFGC) (TSXV: NFG) has expanded the Dropkick zone over an 815 meter strike length to a vertical depth of 285 meters with drilling results including 29.2 g/t Au over 9.25 meters and 20.9 g/t Au over 11.10 meters at the AFZ Peripheral area located 11 kilometers north of AFZ Core on its Queensway Gold Project. The company completed 9,477 meters of drilling in 30 diamond drill holes during Q3 2025 with step-out drilling successfully extending high-grade mineralization that remains open along strike and at depth.

“In late 2024, we made a high-grade discovery at Dropkick in the AFZ Peripheral area at Queensway and initial 2025 drill results have expanded the mineralized footprint at Dropkick to 815 m along strike and to a depth of 285 m,” said Melissa Render, President of New Found Gold Corp. “Located along the AFZ, 11 km north of AFZ Core, Dropkick clearly demonstrates the camp potential in our substantial landholdings at Queensway.”

The 70,000 meter 2025 Queensway drill program is over 75% complete with approximately 80% focused on the AFZ Core area and infill drilling covering PEA Phase 1 open pits expected to be completed in Q4 2025. New Found Gold is conducting a 5 meter by 5 meter definition drilling program at both Keats and Iceberg zones while excavation and channel sampling at the Lotto zone has uncovered a 210 meter by 70 meter area with results pending from laboratory analysis.

Galiano Gold Inc. (NYSE-American: GAU) (TSX: GAU) produced 32,533 ounces in Q3 2025 representing a 7% increase over Q2 2025 and bringing year-to-date production to 83,617 ounces, while selling 32,577 ounces at a record quarterly average price of $3,501 per ounce. The company revised full-year production guidance to a range of 120,000 to 125,000 ounces from the previous 130,000 to 150,000 ounces due to a temporary pause in mining operations at Esaase following a September incident and lower realized grades at the Abore deposit.

“The third quarter has shown some of the improvements we expected in terms of volumes of material mined and throughput, following the successful commissioning of the secondary crusher,” said Matt Badylak, CEO of Galiano Gold Inc. “Importantly, we emerge from the quarter with a very strong financial position, and our Abore drilling program continues to deliver exciting results, delineating a mineralized system extending 200 metres below our current Mineral Reserve across a substantial 1,600-metre strike length.”

Galiano Gold maintained available liquidity of $707.2 million with cash and equivalents of $116.4 million and completed Phase 2 drilling at Abore that identified multiple new high-grade ore shoots below the Abore South and Main zones. The company reported all-in sustaining costs of $2,283 per ounce sold in Q3 2025 with revised full-year AISC guidance of $2,200 to $2,300 per ounce reflecting the impact of lower production and higher royalties from elevated gold prices.

Article Sources:
https://equity-insider.com/2025/10/02/the-goldhaven-story-two-continents-one-strategy-systematic-historic-gold-district-exploration-2/ and https://equity-insider.com/goh-profile

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While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

SOURCES CITED:
1. https://finance.yahoo.com/personal-finance/investing/article/gold-price-today-tuesday-november-11-2025-gold-moves-over-4100-continuing-this-weeks-rally-130014943.html
2. https://fortune.com/article/current-price-of-gold-11-11-2025/
3. https://markets.financialcontent.com/stocks/article/marketminute-2025-11-7-gold-nears-4000-mark-as-global-economic-shifts-fuel-bullish-momentum
4. https://discoveryalert.com.au/gold-historic-breakthrough-4000-2025-economic-impacts/

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