Jr. Miner Uncovers Massive Gold and Copper in Southeastern Newfoundland

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1. Disclosure for the quote from the John Newell article published on October 29 2025

1. For the quoted article (published on October 29, 2025), the Company has paid Street Smart, an affiliate of Streetwise Reports, US$3,000.
2. Author Certification and Compensation: John Newell of John Newell and Associates was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Newell holds a Chartered Investment Management (CIM) designation (2015) and a  U.S. Portfolio Manager designation (2015). The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.

John Newell Disclaimer

As always it is important to note that investing in precious metals like silver carries risks, and market conditions can change violently with shock and awe tactics, that we have seen over the past 20 years. Before making any investment decisions, it's advisable consult with a financial advisor if needed. Also the practice of conducting thorough research and to consider your investment goals and risk tolerance.

2. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Northern Shield Resources Inc. (NRN:TSX.V; NSHRF:OTC; N9SA:FSE) is a Canadian-based company that generates high-quality exploration targets and views greenfield exploration as an opportunity to discover a mineable, near-surface deposit at relatively low cost.

The company said it uses a model-driven exploration approach to mitigate the risks associated with early-stage projects for the company, its shareholders, and the environment.

That strategy led Northern Shield to option the southeastern Newfoundland Root & Cellar Property from a Newfoundland prospector, who discovered mineralization on the site, and subsequently advanced it to a large gold-silver-tellurium and porphyry copper system.

In an October 20 release, Northern Shield announced results from summer drilling at the Conquest Zone and ongoing fieldwork at the Creston Copper Target, both located on the Root & Cellar Property, which is wholly owned.

The exploration efforts are focused on identifying epithermal gold mineralization across five gold zones spanning a 6-kilometer strike length, as well as porphyry copper at the Creston Cu-Mo-Au-Te (copper, molybdenum, gold, and tellurium) target. Tellurium, a critical metal, is associated with four of the gold showings and the copper mineralization.

"While the deeper drillholes mostly encountered strong epithermal alteration, we continue to find near-surface gold mineralization in the southern Conquest Zone, including the top of the boiling zone in newly identified structures, said President and Chief Executive Officer Ian Bliss. "Having intersected the boiling zone, we can now reposition the drill in the next Conquest program and begin following these veins. Based on the trend of these structures and their tellurium enrichment, they may represent the physical link between the epithermal gold and porphyry copper components of an intact epithermal gold-porphyry copper system."

Details of Results

The assays confirmed the presence of gold and silver telluride minerals in the southern Conquest Zone, with the most notable findings in drillhole 25RC-34: 4.35 meters at 3.4 grams per tonne gold (g/t Au) and 5.7 g/t Te, including concentrations of 4.4 g/t Au and 8.6 g/t Te over 0.5 meters, the release said.

The mineralization occurs in pyritic breccias and distinct, crustiform-colloform banded quartz veins, indicative of the boiling zone, which is the point of gold-silver precipitation in a low-sulfidation epithermal deposit. This represents the widest intersection of gold-mineralized epithermal quartz veins on the property to date, the company said.

Copper concentrations in this section reach up to 0.29% Cu over 0.6 meters. Drillhole 25RC-33 intersected 24.9 meters at 0.57 g/t Au (24.6-49.5 meters). Several short intersections of anomalous gold, silver, tellurium, copper were also encountered in drillholes 25RC-23, 24, 25, and 26. Drillhole 25RC-24 deviated from its intended path and did not intersect the target as planned.

"Earlier this year, we expressed our intention to advance the copper target at Root & Cellar to the drilling stage, and with the recent and ongoing discoveries at the Creston Zone, we have reached that point sooner than anticipated," Bliss aid. "We pass by the quarries where the diatreme breccias are exposed on our way to the drill at Conquest, and the evidence became undeniable. I told the prospector, Jeff Brushett, who optioned the Property to us, 'If we were in Chile, for instance, and had a 2-kilometer diameter copper anomaly, a diatreme breccia pipe hosting copper, moly, gold, and tellurium, surrounded by five epithermal gold occurrences, there would be a race to acquire it and drill it. So, let's drill it and put the Burin Peninsula on the porphyry copper map and attack the system from both ends.'"

A new analytical package used in the drilling program allows for the detection of Te at lower levels, the company said. Previously, the detection limit for Te was 10 ppm (parts per million), which was suitable for high-grade samples but did not provide the resolution needed for using Te as a vector or pathfinder element. The results show increasing Te values in gold-bearing structures, highlighting its importance as a pathfinder tool for gold mineralization.

Connection Between Conquest Gold and Creston Copper Discoveries

The 2025 drilling initiative, along with earlier drilling efforts, continues to delineate a "keel-like" zone of near-surface gold mineralization that measures roughly 75 meters wide, 400 meters long, and 50 meters deep, and is intersected by gold-silver-telluride-bearing structures, Northern Shield said.

These structures extend southwest, intersecting diatreme breccia pipes within the 2-kilometer diameter Creston Porphyry copper anomaly, where soil samples show high tellurium anomalies overlying the structures, the company said. Epithermal gold and porphyry copper are genetically related, both originating from a large magmatic-hydrothermal system. Typically, porphyry copper systems are deeper and hotter components of such a system, evolving upwards into shallower, cooler epithermal gold systems.

Recent investigations suggest the presence of an underlying polymetallic (Cu-Au-Ag-Mo-Te) porphyry and/or hydrothermal system at Creston.

A drill permit application is underway for 14 holes aimed at testing the Creston Porphyry Target, scheduled for late fall or early winter. There are enough permitted drill sites near drillhole 25RC-33 to further investigate the results and trace the ginguro textures observed in the epithermal veins, a key feature of low-sulfidation epithermal deposits.

Letting the Geology Lead the Work

On October 29, John Newell of John Newell & Associates reviewed the company, saying it "builds its own projects in the right rocks and lets the geology lead the work."¹

Known for its model-driven, grassroots exploration in under-explored areas across Canada, the team focuses on identifying promising geological settings, Newell said.

Northern Shield's approach is straightforward, he said: Begin in regions capable of hosting large systems and validate the model step by step. This strategy led them to Newfoundland's Burin Peninsula and the Root & Cellar project, where evidence suggests an alkaline-related epithermal gold system situated above a porphyry-style copper center, representing two ends of the same hydrothermal system.

The company is nearing what could be its Point of Recognition (POR). After an 18-month base capped by resistance around CA$0.10–CA$0.12, shares have compressed into a descending wedge with higher lows since the 2023 trough. A decisive break and hold above CA$0.10–CA$0.12 would mark the POR and open a fast-move zone created by the 2021–22 decline.

The analyst gave a series of targets for the stock's share price, including CA$0.16 as the first, CA$0.20 as the second, CA$0.50 as the third, and CA$0.75 as the "Big Picture Target."

Newell said Northern Shield offers two clear opportunities at Root & Cellar: near-surface epithermal gold now showing boiling-zone textures with grade, and a developing porphyry copper target marked by diatremes, pathfinder halos, and porphyry-style vein fragments within a 2-kilometer copper footprint.

"With an intact system, real infrastructure, and a defined drill plan to test depth targets, this fits a Speculative Buy at the current price of CA$0.08 for investors who understand early-stage exploration risk and want exposure to a potential Atlantic seaboard discovery," he wrote.

On October 23, Malcolm Shaw of Hydra Capital noted that the results are indicative of the upper reaches of a copper porphyry system which appears to be related to the 2-kilometer diameter Creston copper anomaly on the property.

"The results, combined with newly exposed diatreme breccia pipes exposed at surface, have led NRN to prepare a 14-hole drilling program to test the porphyry potential at depth," Shaw said. "Drilling is expected to begin in November after NRN completes a CA$1 million private placement for which it already has indicative interest from investors. This is a high-priority target which offers long-tail upside potential on this CA$5 million market cap minnow."

The Catalysts: Gold Down, But Not Out; Tellurium Market to Grow

Gold prices inched up on Friday but were on track for a second straight weekly decline as the Federal Reserve's cautious stance on future interest rate cuts and signs of easing U.S.-China trade tensions reduced demand for the safe-haven asset, according to a report by Peter Nurse for Investing.com on October 31.

At 09:05 a.m. ET, spot gold rose 0.1% to US$4,027.18 per ounce, while U.S. gold futures increased 0.6% to US$4,039.56 per ounce. Despite these gains, bullion was still expected to drop around 2% for the week.

The Federal Reserve lowered its benchmark interest rate by 25 basis points on Wednesday to a range of 3.75%-4.00%, as anticipated. However, Chair Jerome Powell expressed uncertainty about further cuts, stating that a December move was "far from a foregone conclusion." His remarks drove U.S. Treasury yields and the dollar higher, diminishing gold's attractiveness since it does not yield interest.

But the yellow metal's rally may not be over, as most major banks remain optimistic about gold's future.

JP Morgan analysts reaffirmed their positive outlook for gold, forecasting that prices could average US$5,055 per ounce by the fourth quarter of 2026, as reported by Reuters on October 23. In addition, Bank of America maintained a long position with a target of US$6,000 per ounce by mid-2026, Ali's article noted.

According to Technavio, the tellurium market is projected to grow by US$315 million, with a compound annual growth rate (CAGR) of 9.84% from 2023 to 2028. Rising demand from the consumer electronics sector is expected to propel the market forward.

The tellurium market is witnessing substantial growth, primarily fueled by the increasing demand from core technologies and applications within the consumer electronics industry. This expansion is expected to continue throughout the forecast period, driven by the influence of green bonds and the ongoing transition towards sustainable energy solutions. However, the market faces challenges, including stringent environmental and safety regulations on tellurium production and usage, which present significant obstacles for major companies.

Ownership and Share Structure²

According to Refinitiv, three insiders own 11.94% of Northern Shield. The major shareholder is Chairman Russell Richards with 9.6%. CEO and Director Bliss and Director Peter Dimmell each also own an interest.

The rest is in retail. There are no institutional investors at this time.

The company has 113.49 million outstanding shares. Its market cap is CA$5.69 million. Its 52-week range is CA$0.04–0.13 per share.