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The White House confirmed and defended conducting a second strike against alleged drug smugglers in the Caribbean in September, amid the Trump administration’s crusade targeting the influx of drugs into the U.S. 

The White House’s statement comes after the Washington Post reported Friday that Secretary of Defense Pete Hegseth verbally ordered that a Sept. 2 attack kill everyone on board the alleged drug boat, drawing scrutiny from lawmakers who are requesting additional oversight into the strikes. The Post reported that a second strike was conducted to take out the remaining survivors on the boat. 

Although the Pentagon pushed back against the report, White House press secretary Karoline Leavitt did not deny that a second strike occurred and told reporters Monday that the strike Sept. 2 was conducted ‘in self-defense’ in international waters ‘in accordance with the law of armed conflict.’ 

The White House said Monday that Hegseth authorized the second strike, but the head of U.S. Special Operations Command, Adm. Frank ‘Mitch’ Bradley, ordered and directed it. At the time of the strike, Bradley was serving as the commander of Joint Special Operations Command, which falls under U.S. Special Operations Command. 

‘On September 2nd, Secretary Hegseth authorized Admiral Bradley to conduct these kinetic strikes,’ Leavitt said. ‘Admiral Bradley worked well within his authority and the law, directing the engagement to ensure the boat was destroyed and the threat to the United States of America was eliminated.’

When asked to confirm that Bradley was the one who ordered the second strike, Leavitt said that he was ‘well within his authority to do so,’ but declined to disclose whether the second strike was ordered because there were survivors remaining from the first strike. 

Leavitt also disputed that Hegseth ever gave an initial order to ensure that everyone on board was killed, when asked specifically about Hegseth’s instructions. 

‘I would reject that the secretary of War ever said that,’ Leavitt said. ‘However, the president has made it quite clear that if narco-terrorists, again, are trafficking illegal drugs toward the United States, he has the authority to kill them.’

The White House’s statements on the matter don’t completely align with the Pentagon’s. On Friday, the Pentagon denied the Post’s reporting in its entirety. 

‘We told the Washington Post that this entire narrative was false yesterday,’ Pentagon spokesperson Sean Parnell said in a post on social media Friday. ‘These people just fabricate anonymously sourced stories out of whole cloth. Fake News is the enemy of the people.’ 

The Pentagon did not immediately respond to a request for comment from Fox News Digital.

Meanwhile, the report has prompted lawmakers on both sides of the aisle to ask additional questions about the operations, and press for additional oversight. 

‘This committee is committed to providing rigorous oversight of the Department of Defense’s military operations in the Caribbean,’ Reps. Mike Rogers, R-Ala., and Adam Smith, D-Wash., who lead the House Armed Services Committee, said in a statement on Saturday. ‘We take seriously the reports of follow-on strikes on boats alleged to be ferrying narcotics in the SOUTHCOM region and are taking bipartisan action to gather a full accounting of the operation in question.’

Spokespeople for the committee did not respond to a request for comment from Fox News Digital regarding the nature of these additional oversight efforts. 

Additionally, the top Democrat on the Senate Foreign Relations Committee, Sen. Jeanne Shaheen, D-N.H., said Monday that she is calling for an investigation into the matter as well, and said that Hegseth ‘owes answers to the American people immediately.’

The Trump administration has carried out more than 20 strikes against alleged drug boats in Latin American waters, and has bolstered its military presence in the Caribbean to align with Trump’s goal to crack down on the influx of drugs into the U.S.

The White House also confirmed Monday that Trump is slated to hold a meeting on Monday evening to discuss future actions concerning Venezuela. 

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The House unanimously passed a bill on Monday barring anyone linked to Hamas’ Oct. 7, 2023 attack on Israel from moving to the United States.

It’s a rare moment of bipartisanship on the topic of Israel, an issue that’s otherwise exacerbated deep fractures within both parties in the House of Representatives — particularly for Democrats.

The Republican-led legislation is called the ‘No Immigration Benefits for Hamas Terrorists Act of 2025’ and was introduced by Rep. Tom McClintock, R-Calif.

It passed the House by voice vote on Monday afternoon, meaning it advanced with unanimous approval without lawmakers taking individual votes on the bill.

‘There are still some things we can come together on in this body, and one of them is opposition to Hamas and the terrorism they unleashed on civilians in Israel more than two years ago,’ McClintock told Fox News Digital.

‘What this does is place them in the same category as Nazi collaborators in the Holocaust, which are also referenced in the Immigration Nationality Act.’

The bill now heads to the U.S. Senate, where a parallel effort was introduced earlier this year by Sens. Marsha Blackburn, R-Tenn., and Jacky Rosen, D-Nev.

McClintock told Fox News Digital he was hopeful the Senate would take up the bill — while noting it passed the House last term as well without the upper chamber taking action.

‘The repeated actions of the House in passing this bill, I think, will hopefully inspire the Senate to take it up this year and send it to the president,’ he said. ‘It’s important for two reasons. Number one, to prevent a future Joe Biden from admitting such people, and to empower a future Donald Trump presidency to keep them out.’

The legislation would amend existing U.S. immigration law to deem ‘any alien who carried out, participated in, planned, financed, afforded material support to, or otherwise facilitated any of the attacks against Israel initiated by Hamas beginning on October 7, 2023’ inadmissible to the country.

It would also add Hamas and Palestinian Islamic Jihad to the list of terror groups whose members and supporters are barred from the U.S. under the Immigration and Nationality Act.

It comes after a Gazan native, Mahmoud Amin Ya’qub Al-Muhtadi, who was residing in Louisiana, was arrested earlier this year over his alleged involvement in the Oct. 7 attack.

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President Donald Trump is continuing to advocate for the Senate GOP to nix the filibuster.

In a Monday Truth Social post, the president shared a video featuring clips of former Attorney General Eric Holder, who opined that if Democrats win a ‘trifecta’ in the 2028 elections, the prospect of expanding the Supreme Court should be under consideration. 

Holder made the comment while speaking with Ben Meiselas, co-founder of MeidasTouch, which posted the video last month.

In the Monday Truth Social post, Trump referred to Holder, who served under Democratic President Barack Obama, as an ‘Obama sycophant’ and said that ‘Eric Holder (known as ‘FAST AND FURIOUS’) just gave a Speech where he emphatically stated, above all else, that Democrats will PACK the Supreme Court of the United States if they get the chance. The word is, he wants 21 Radical Left Activist Judges, not being satisfied with the heretofore 15 that they were seeking.’

Trump suggested that eliminating the filibuster would enable Republicans to win in the 2026 midterm elections and the 2028 White House contest.

‘It will be 21, they will destroy our Constitution, and there’s not a thing that the Republicans can do about it unless we TERMINATE THE FILIBUSTER, which will lead to an easy WIN of the Midterms, and an even easier WIN in the Presidential Election of 2028,’ he asserted.

‘Why would the Republicans even think about giving them this opportunity? The American People don’t want gridlock, they want their Leaders to GET THINGS DONE — TERMINATE THE FILIBUSTER, AND HAVE THE MOST SUCCESSFUL FOUR YEARS IN THE HISTORY OF OUR COUNTRY, BY FAR, WITH NOT EVEN THE HINT OF A SHUTDOWN OF OUR GREAT NATION ON JANUARY 30TH!’ Trump declared in the post.

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White House envoy Steve Witkoff is in Moscow is set to meet Russian President Vladimir Putin Tuesday after a whirlwind weekend of negotiations with Ukraine aimed at securing a peace deal.

All eyes are on Putin as Witkoff and Jared Kushner, President Donald Trump’s son-in-law and occasional foreign policy envoy, feel out whether Putin might agree to the 19-point proposal they finalized with Ukrainian counterparts following initial U.S.-Russian talks.

The latest round of diplomacy represents the most active push toward a potential settlement since the full-scale invasion in 2022, but negotiators acknowledge that significant obstacles remain. Core disputes over territory, Ukraine’s long-term security arrangements, and the conditions for any ceasefire are unresolved, and officials say progress will depend on whether Putin shows flexibility during this week’s meetings.

After an initial 28-point plan brokered by Witkoff and Russian envoy Kirill Dmitriev was viewed by Kyiv as too favorable to Moscow, U.S. and Ukrainian officials went back to the drawing board. They met in Geneva at the end of November to work through a trimmed-down version of the plan and again over the weekend in Florida to hammer out additional details.

Both sides said the talks were productive but offered no specifics on which issues still divide them.

‘So much work remains,’ Secretary of State Marco Rubio said after the meeting. ‘But today was again a very productive and useful session where I think additional progress was made.’

‘There’s a good chance we can make a deal,’ Trump said.

Despite the momentum, the two sides remain far apart. Several of the most sensitive issues were left for a meeting between principal leaders.

Russia insists Ukraine cannot join the North Atlantic Treaty Organization — even though Ukraine amended its constitution to make NATO membership a national objective. In the original 28-point plan, Russia also demanded Ukraine reduce its peacetime armed forces to 600,000.

European and Ukrainian officials instead floated an 800,000 cap, according to the Financial Times. Ukraine currently fields around 880,000 troops, up from about 209,000 before the 2022 invasion.

The largest impasse remains territorial concessions. A draft of the earlier proposal suggested recognizing Crimea and large parts of the Luhansk, Donetsk, Kherson and Zaporizhzhia regions as de facto Russian.

Complicating the process is the sudden removal of Ukrainian President Volodymyr Zelenskyy’s chief of staff and chief negotiator, Andriy Yermak, who resigned after a corruption probe led to a raid of his home. Yermak had publicly insisted days earlier that Ukraine would not give up land for peace. 

‘Not a single sane person today would sign a document to give up territory,’ he told The Atlantic magazine. 

Putin said at the end of November he was ready for ‘serious’ talks but also asserted that Russia has the upper hand and would halt fighting only if Ukrainian forces withdraw from territory it has recaptured on the front lines.

‘If they don’t withdraw, we will achieve this by force,’ he said.

Analysts say Washington still has levers it could use if negotiations stall, including tightening sanctions and expanding military assistance to Ukraine. But many of the most powerful economic measures — such as penalties on major Russian energy and financial entities — are already in place, and the U.S. has provided Ukraine with tens of billions of dollars in military aid since 2022. 

That leaves a narrower set of options if the talks reach an impasse.

Trump has voiced frustration with the slow pace of diplomacy in recent days, saying publicly that he believed a resolution ‘should have happened a long time ago,’ though officials have not indicated that Washington is preparing to walk away from the talks.

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President Donald Trump threw himself in the middle of Honduras’ razor-thin presidential race on Monday, warning that there would be ‘hell to pay’ if election officials altered the results.  

Writing on Truth Social, Trump, without offering evidence, accused Honduras of ‘trying to change the results.’

‘If they do, there will be hell to pay! The people of Honduras voted in overwhelming numbers on November 30th,’ Trump said.

The president’s remarks came hours after Ana Paola Hall, president of the National Electoral Council, wrote on X that the preliminary rapid reporting system that began providing results Sunday night had reached its conclusion with votes 57% tallied.

Their count showed a close race between two conservative candidates, Nasry Asfura of the National Party and Salvador Nasralla of the Liberal Party, with Asfura holding a narrow lead of only a few hundred votes. Rixi Moncada, the democratic socialist LIBRE candidate, trailed roughly 20 percentage points behind.  

‘It is imperative that the Commission finish counting the Votes,’ Trump wrote. ‘Hundreds of thousands of Hondurans must have their Votes counted. Democracy must prevail!’

Officials have said the count would continue but did not specify when updated totals would be released, and parts of the council’s online system appeared to have been taken down.

Just before the freeze, Trump had endorsed Asfura, calling him the ‘only Honduran candidate his administration would work with and saying he would fight ‘narco-communists’ alongside the U.S.

Both leading candidates have pointed to the close tally as evidence that they are ahead – though both men have stopped short of declaring victory.

Trump’s announcement that he would pardon former Honduran President Juan Orlando Hernández, who is now serving a 45-year U.S. sentence – also loomed large over the race, underscoring how U.S. politics can intrude in the country’s politics.

Trump’s latest warning injects new pressure into an already hostile post-election environment. The outcome will determine whether the Latin American country shifts away from the ruling LIBRE party and have deep impacts on its future relationship with Washington.

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PARIS — Airbus fleets were returning toward normal operations on Monday after the European plane maker pushed through abrupt software changes faster than expected, as it wrestled with safety headlines long focused on rival Boeing.

Dozens of airlines from Asia to the United States said they had carried out a snap software retrofit ordered by Airbus, and mandated by global regulators, after a vulnerability to solar flares emerged in a recent mid-air incident on a JetBlue A320.

Airbus said on Monday that the vast majority of around 6,000 of its A320-family fleet affected by the safety alert had been modified, with fewer than 100 jets still requiring work.

JetBlue Airbus A320 planes at LaGuardia Airport in New York City.Nicolas Economou / NurPhoto via Getty Images file

But some require a longer process and Colombia’s Avianca continued to halt bookings for dates until December 8.

Sources familiar with the matter said the unprecedented decision to recall about half the A320-family fleet was taken shortly after the possible but unproven link to a drop in altitude on the JetBlue jet emerged late last week.

Shares in Airbus were down 2.1% in early trading in Paris.

Following talks with regulators, Airbus issued its 8-page alert to hundreds of operators on Friday, effectively ordering a temporary grounding by ordering the repair before next flight.

“The thing hit us about 9 p.m. [Jeddah time] and I was back in here about 9:30. I was actually quite surprised how quickly we got through it: there are always complexities,” said Steven Greenway, CEO of Saudi budget carrier Flyadeal.

The instruction was seen as the broadest emergency recall in the company’s history and raised immediate concerns of travel disruption particularly during the busy U.S. Thanksgiving weekend.

The sweeping warning exposed the fact that Airbus does not have full real-time awareness of which software version is used given reporting lags, industry sources said.

At first airlines struggled to gauge the impact since the blanket alert lacked affected jets’ serial numbers. A Finnair passenger said a flight was delayed on the tarmac for checks.

Over 24 hours, engineers zeroed in on individual jets.

Several airlines revised down estimates of the number of jets impacted and time needed for the work, which Airbus initially pegged at three hours per plane.

“It has come down a lot,” an industry source said on Sunday, referring to the overall number of aircraft affected.

The fix involved reverting to an earlier version of software that handles the nose angle. It involves uploading the previous version via a cable from a device called a data loader, which is carried into the cockpit to prevent cyberattacks.

At least one major airline faced delays because it lacked enough data loaders to handle dozens of jets in such a short time, according to an executive speaking privately.

UK’s easyJet and Wizz Air said on Monday they had completed the updates over the weekend without cancelling any flights.

JetBlue said late Sunday it expected to have completed work to return to service 137 of 150 impacted aircraft by Monday and plans to cancel approximately 20 flights for Monday due to the issue.

Questions remain over a subset of generally older A320-family jets that will need a new computer rather than a mere software reset. The number of those involved has been reduced below initial estimates of 1,000, industry sources said.

Industry executives said the weekend furor highlighted changes in the industry’s playbook since the Boeing 737 MAX crisis, in which the U.S. plane maker was heavily criticized over its handling of fatal crashes blamed on a software design error.

It is the first time Airbus has had to deal with global safety attention on such a scale since that crisis. CEO Guillaume Faury publicly apologized in a deliberate shift of tone for an industry beset by lawsuits and conservative public relations. Boeing has also declared itself more open.

“Is Airbus acting with the Boeing MAX crisis in mind? Absolutely — every company in the aviation sector is,” said Ronn Torossian, chairman of New York-based 5W Public Relations.

“Boeing paid the reputational price for hesitation and opacity. Airbus clearly wants to show … a willingness to say, ‘We could have done better.’ That resonates with regulators, customers, and the flying public.”

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Trading in the securities of Corazon Mining Limited (‘CZN’) will be halted at the request of CZN, pending the release of an announcement by CZN.

Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of:

  • the commencement of normal trading on Wednesday, 3 December 2025; or
  • the release of the announcement to the market.

CZN’s request for a trading halt is attached below for the information of the market.

Issued by
ASX Compliance

Click here for the full ASX Release

This post appeared first on investingnews.com

Here’s a quick recap of the crypto landscape for Friday (November 28) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ether price update

Bitcoin (BTC) was priced at US$91,192.19, down by 0.2 percent over 24 hours.

Bitcoin price performance, November 28, 2025.

Chart via TradingView.

However, the expert added that whale selling is keeping upside momentum fragile, preventing Bitcoin’s recovery from becoming a sustained trend. Hasn also noted that while derivatives market indicators show some stabilization, the rebound lacks the aggressive leverage buildup that typically supports strong rallies.

Friday’s derivatives data reinforces this view. Open interest fell 0.13 percent over four hours as traders trimmed positions. Liquidations hit US$23.74 million, mostly in longs, clearing excess bets without sparking fresh buying.

The slightly negative funding rate of -0.001 percent shows shorts paying longs with no bullish premium, while Bitcoin’s relative strength index of 58 signals neutral momentum, not the overextension needed for a strong rally.

As Hasn explained:

“Bitcoin’s resilience this week is therefore being shaped by a supportive macro environment rather than internal strength. The mixed whale distribution pattern and the lack of sustained accumulation still underline that the market remains vulnerable. The next phase will likely depend on whether improving sentiment in equities can translate into more durable inflows across the crypto market.”

Meanwhile, Ether (ETH) was at US$3,057.17, up by 0.7 percent over 24 hours. Ether derivatives showed balanced consolidation: US$8.83 million in mixed long/short liquidations cleared positions evenly, while a 0.06 percent rise in open interest signals modest new bets. However, neutral funding at 0.001 percent lacks a bullish premium.

Altcoin price update

  • XRP (XRP) was priced at US$2.19, down by 1.8 percent over 24 hours.
  • Solana (SOL) was trading at US$137.88, down by 3.3 percent over 24 hours.

Fear and Greed Index snapshot

CMC’s Crypto Fear & Greed Index continued to climb steadily after plunging into ‘extreme fear’ territory in the last two weeks. It has currently settled at 20 and is inching closer to ‘fear.’

Bitcoin’s rebound from the mid-US$80,000 zone has triggered a swift shift in market sentiment. After the price briefly cooled near US$80,000, many expected a sluggish recovery phase. Instead, optimism snapped back, with the sentiment index rising 10 points over the week and marking one of its sharpest moves in recent months.

The increase corresponds with heavier buying activity and reduced caution among traders who had previously stayed on the sidelines during the cryptocurrency’s pullback.

CMC Crypto Fear and Greed Index, Bitcoin price and Bitcoin volume.

Chart via CoinMarketCap.

Today’s crypto news to know

Major CME Group outage halts futures trading

CME Group (NASDAQ:CME) experienced a major outage on Friday due to a chiller plant malfunction at the CyrusOne CHI1 facility, halting trading in futures and options across equities, currencies, commodities, treasuries and FOREX.

The disruption started late on Thursday (November 27) and affected the Globex platform, which handles 90 percent of CME Group’s volume. The outage halted trading in Bitcoin and Ether futures for about nine to 11 hours, disrupting access to quotes and positions, but leaving spot crypto markets largely unaffected.

Visa expands stablecoin settlement push with Aquanow partnership

Visa (NYSE:V) has deepened its stablecoin strategy by teaming up with Aquanow to support faster settlement across Central and Eastern Europe, the Middle East and Africa.

The deal plugs Aquanow’s infrastructure directly into Visa’s payment rails, allowing banks and payment firms in the region to settle transactions in approved stablecoins such as USDC.

Visa says the upgrade is aimed at institutions seeking cheaper and quicker cross-border settlement options as demand for digital asset rails grows. The company also aims to modernize the “back-end plumbing” of payments by reducing reliance on traditional networks with multiple intermediaries. Aquanow, which processes billions in crypto transactions each month, will provide liquidity and technical support for the integrations.

The collaboration follows Visa’s recent stablecoin payout pilot, Visa Direct, which lets businesses fund transactions in fiat while recipients opt to receive stablecoins directly in their wallets.

UK backs “no gain, no loss” tax model for DeFi activity

The UK government has endorsed a major shift in how DeFi transactions are taxed, moving to eliminate capital gains charges when users deposit tokens into lending protocols or liquidity pools.

Under the current rules, deposits can be treated as disposals, often generating tax liabilities even when investors haven’t realized any economic gain. HM Revenue & Customs’ updated guidance supports a “no gain, no loss” approach that would tax users only when they withdraw assets and eventually sell them.

The proposal comes after two years of industry feedback from firms, many of which argued that the existing system distorts reality and burdens ordinary users with excessive record keeping. The new model would apply to both simple lending and automated market makers, ensuring that only genuine gains or losses are captured for tax purposes.

Australia introduces digital assets bill

Australia has tabled a new digital assets bill aimed at ending years of regulatory uncertainty and preventing a repeat of past offshore failures such as FTX and Celsius.

The proposed Corporations Amendment (Digital Assets Framework) Bill 2025 would require platforms holding customer crypto to meet the same licensing and conduct standards applied across the financial sector.

Officials said the legislation is designed to bring crypto businesses fully into the regulated economy, ensuring transparency, custody safeguards and clear accountability.

The bill includes exemptions for smaller operators that process under US$10 million annually and hold less than US$5,000 per customer, mirroring existing thresholds for low-risk financial products. The government argues that modernizing the rules could unlock as much as US$24 billion a year in productivity and efficiency gains.

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

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

This post appeared first on investingnews.com

West African gold explorer Asara Resources Limited (ASX: AS1; Asara or Company) is pleased to announce the second set of results from 11 drill holes (totalling 2,455m) from the Phase 1 Reverse Circulation (RC) drilling program within the Massan deposit Mineral Resource Estimate (MRE) area at its flagship Kada Gold Project (Kada) in Guinea.

HIGHLIGHTS

  • Drilling to date has focused on increasing geological confidence and on extending the down-dip mineralisation envelope at the Massan deposit within the Kada project.
  • The latest results demonstrate continuity between drillholes across the remaining Inferred areas, reinforcing confidence in the geological model and confirming consistent, broad zones of mineralisation.
  • Depth-extension drilling beyond the US$1,800/oz pit shell confirms that mineralisation continues at depth, returning robust gold intersections within fresh rock and identifying new zones of deeper mineralisation.
  • Phase 2 drilling will target strike extensions to the north and south to further grow the resource footprint.
  • Notable gold intersections from the assays received for the most recent eleven drillholes include:
    • MSRC25-014: 55m @ 1.0 g/t gold from 17m. Including,
      7m @ 3.1 g/t gold from 28m.
      12m @ 1.35 g/t gold from 239m. Including,
      5m @ 2.3 g/t gold from 244m.
    • MSRC25-015: 26m @ 0.9 g/t gold from 121m.
    • MSRC25-016: 7m @ 1.4 g/t gold from 143m.
      18m @ 1.1 g/t gold from 154m. Including,
      5m @ 2.0 g/t gold from 146m.
    • MSRC25-017: 23m @ 1.2g/t gold from 64m. Including,
      6m @ 3.8 g/t gold from 64m.
    • MSRC25-018: 12m @ 3.0g/t gold from 22m. Including,
      7m @ 4.1 g/t gold from 26m.
      18m @ 1.0g/t gold from 221m. Including,
      6m @ 2.0 g/t gold from 227m.
      6m @ 2.0g/t gold from 282m.
    • MSRC25-019: 1m @ 20.8g/t gold from 21m. 90m @ 1.0g/t gold from 226m. Including,
      9m @ 1.8 g/t gold from 234m; and
      10m @ 3.0 g/t gold from 301m.
    • MSRC25-020: 5m @ 2.9g/t gold from 6m.
      13m @ 2.1g/t gold from 29m. Including,
      4m @ 4.8 g/t gold from 35m.
      30m @ 1.9g/t gold from 109m. Including,
      16m @ 3.0 g/t gold from 118m.
      20m @ 2.3g/t gold from 144m. Including,
      9m @ 4.1 g/t gold from 144m.
    • MSRC25-021: 57m @ 1.2g/t gold from 3m. Including,
      12m @ 2.0 g/t gold from 12m.
    • 41m @ 0.7g/t gold from 64m.
    • MSRC25-023: 33m @ 0.5 g/t gold from 41m.
    • MSRC25-023B: 8m @ 0.7 g/t gold from 0m.
    • MSRC25-024: 19m @ 1.5 g/t gold from 0m. Including,
      8m @ 2.1 g/t gold from 0m.
      56m @ 0.7 g/t gold from 23m.
      10m @ 1.3 g/t gold from 156m. Including,
      5m @ 2.2 g/t gold from 156m.

Additional RC Drilling Results Confirm High-Grade Continuity at Massan Prospect

The Company is pleased to announce the receipt of assay results from a further eleven RC drill holes, totalling 2,455 metres, completed at the Massan prospect (Figure 1 and Figure 2). This phase of drilling has been strategically designed to both infill the existing drilling dataset by improving geological confidence in the mineralised zones to a vertical depth of ~150 metres, and to test the down-dip depth extensions of the deposit beyond previously defined depth limits (Figure 3 and Figure 4).

As with the previous set of assay results reported in September, this batch of assay results from the drill holes drilled within the central portion of the Massan deposit has again returned significant mineralised intersections, reinforcing the continuity and robustness of the mineralisation within the core zone and validating the accuracy of the geological model against which drillhole planning has been based.

Matt Sharples, CEO of Asara, commented:

“The latest batch of assay results from the Phase 1 drilling program at the Massan deposit at Kada is highly encouraging. Not only do they confirm the widths and tenures of the expected grades, but most importantly, the intercepts were encountered exactly where predicted. This validates the accuracy of our geological model, strengthens our understanding of the genesis of the gold and derisks our exploration targeting. This enhances our success rate and continues to lower our $/oz discovery cost at a deposit which continues to grow in scale.

Both the reported depth-extension results and the near-surface infill drilling have validated our targeting and underscore the scale of Massan. We will continue to refine and update our drill plan, and we look forward to receiving the next batch of assays, which will further guide and shape our near-term exploration strategy to increase geological confidence and confirm depth extensions.

Drilling activity at Massan is due to ramp up with the imminent arrival of the Sahara Resources AC/RC rig, which will undertake a strike extension drilling campaign, designed to confirm the scale of the Massan deposit along strike, north and south, and potentially grow the Inferred Mineral Resource component of the Kada Project.”

Click here for the full ASX Release

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Mineralization intersected in 8 of 9 holes at Tahami South, directly adjacent to Aris Mining’s producing operations in the Segovia gold district

Quimbaya Gold Inc. (CSE: QIM,OTC:QIMGF) (OTCQB: QIMGF) (FSE: K05) (‘Quimbaya’ or the ‘Company’) is pleased to announce the discovery of two new mineralized vein systems at its 100%-owned Tahami South Project in the Segovia-Remedios gold district of Antioquia, Colombia.

The Company’s ongoing drill program at Tahami South has successfully identified vein systems that include the previously targeted Vein S and Vein V, confirming the presence of mineralization consistent with quartz vein systems mined regionally. These results confirm the continuation of the Segovia district’s geological architecture onto Quimbaya’s ground, a core thesis of the Company’s strategy.

‘This is a milestone event for Quimbaya. These first vein discoveries validate our thesis and represent a turning point as we move from land assembly into value creation through the drill bit,’ said Alexandre P. Boivin, CEO of Quimbaya Gold. ‘They are not just promising results, they are proof that we’re on to a significant mineralized system, with the grades, geometry, and geology that define Colombia’s most productive gold district.’

Discovery Highlights

  • Several Veins intersected across multiple drill platforms

  • Mineralization intersected in 8 out of 9 drill holes, demonstrating strong structural continuity and robust targeting accuracy in the inaugural Phase 1 program.

  • Drilling remains ongoing, with over 4,000 meters completed to date; the program has been extended beyond its initial scope in response to encouraging early results.

  • Two distinct vein structures system (S & V) discovered, confirming Segovia-style mineral continuity on Quimbaya’s ground.

  • Mineralization comprises quartz, barite, carbonate veining with sulphide assemblage (pyrite, chalcopyrite, galena, sphalerite).

‘These intercepts confirm that we are tapping into the same geological architecture that has made the Segovia district one of the most prolific gold producers in Latin America,’ said Ricardo Sierra, B.Sc., AusIMM, VP Exploration. ‘We see clear continuity in structure, mineralogy, grade, and believe we are only beginning to uncover the full potential at Tahami South.’

While initial assay results have been received from select drill holes, the Company is continuing to await the return of a significant portion of its Phase 1 drill campaign. In the interest of providing a more complete and technically coherent picture of the emerging discovery at Tahami South, Quimbaya intends to release assay data once a critical mass of results has been compiled. This approach ensures a balanced and contextualized interpretation of both grade distribution and structural continuity, and reflects the Company’s commitment to disciplined, data-driven disclosure as the scale of the system comes into focus.

Strategic Implications: Thesis Confirmed

The discovery of vein systems that include the previously targeted Veins S and V represents the first clear technical validation of Quimbaya’s exploration thesis: that district-scale mineralized structures extend beyond known mines into underexplored ground. The Company’s focused land acquisition strategy prioritized claims with gold & silver+ at surface and proximity to producers, and now, early drilling confirms this model is working.

With over 4,000 meters already drilled, surpassing the originally planned Phase 1 total, the Company has extended its current program to follow up on promising early results and to further evaluate vein continuity at depth and along strike. The strong correlation between drill intercepts and the geological model has reinforced Quimbaya’s exploration thesis. These results not only validate the presence of a robust mineralized system but also provide clear vectors for systematic expansion drilling in 2026.

Figure 1. Plan view of Tahami South showing drill platform locations 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11347/276292_5f253638b40f0884_001full.jpg

Figure 2. System S

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Figure 3. System S

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Figure 4. System V

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Figure 5. System V and S

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Capital Strengthened Through Warrant Exercises; Equity Incentives Align Leadership for 2026

Quimbaya Gold is pleased to report that during the second half of 2025, a total of 2,169,164 common shares were issued through the exercise of stock options and warrants, resulting in gross proceeds of C$874,665. This influx of non-dilutive capital reinforces the Company’s treasury ahead of a fully funded 2026 drill campaign.

In parallel, the Company granted an aggregate of 614,034 Restricted Share Units (RSUs) to members of its senior management and board of directors under its equity incentive plan. These RSUs, which will vest in accordance with the plan and CSE policies, reflect Quimbaya’s continued focus on retaining top-tier leadership and aligning long-term performance with shareholder value.

Qualified Person

Ricardo Sierra, AusIMM, is a non-independent Officer ‘VP Exploration’ and the Qualified Person for this news release. Mr. Sierra has sufficient experience with South American exploration projects relevant to the style of mineralization and type of deposit under consideration. He consents to the inclusion of the Exploration Results in the form and context in which they appear.

About Quimbaya

Quimbaya aims to discover gold resources through exploration and acquisition of mining properties in the prolific gold mining districts of Colombia. Managed by an experienced team in the mining sector, Quimbaya is focused on three projects in the regions of Segovia (Tahami Project), Puerto Berrio (Berrio Project), and Abejorral (Maitamac Project), all located in Antioquia Province, Colombia.

Contact Information

Alexandre P. Boivin, President and CEO apboivin@quimbayagold.com

Sebastian Wahl, VP Corporate Development swahl@quimbayagold.com

Quimbaya Gold Inc.
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Cautionary Statements

Certain statements contained in this press release constitute ‘forward-looking information’ as that term is defined in applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, but not always, forward-looking statements and information can be identified by the use of forward-looking terminology such as ‘intends’, ‘expects’ or ‘anticipates’, or variations of such words and phrases or statements that certain actions, events or results ‘may’, ‘could’, ‘should’, ‘would’ or ‘occur’. Forward-looking statements herein include statements and information regarding the Offering’s intended use of proceeds, any exercise of Warrants, the future plans for the Company, including any expectations of growth or market momentum, future expectations for the gold sector generally, the Colombian gold sector more particularly, or how global or local market trends may affect the Company, intended exploration on any of the Company’s properties and any results thereof, the strength of the Company’s mineral property portfolio, the potential discovery and potential size of the discovery of minerals on any property of the Company’s, including Tahami South, the aims and goals of the Company, and other forward-looking information. Forward-looking information by its nature is based on assumptions and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Quimbaya to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These assumptions include, but are not limited to, that the Company’s exploration and other activities will proceed as expected. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: future planned development and other activities on the Company’s mineral properties; an inability to finance the Company; obtaining required permitting on the Company’s mineral properties in a timely manner; any adverse changes to the planned operations of the Company’s mineral properties; failure by the Company for any reason to undertake expected exploration programs; achieving and maintaining favourable relationships with local communities; mineral exploration results that are poorer or better than expected; prices for gold remaining as expected; currency exchange rates remaining as expected; availability of funds for the Company’s projects; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; the Offering proceeds being received as anticipated; all requisite regulatory and stock exchange approvals for the Offering are obtained in a timely fashion; investor participation in the Offering; and the Company’s ability to comply with environmental, health and safety laws. Although Quimbaya’s management believes that the assumptions made and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. Readers are cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Quimbaya as of the date of this news release and, accordingly, is subject to change after such date. Except as required by law, Quimbaya does not expect to update forward-looking statements and information continually as conditions change.

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