Explorer Confirms Extensive Polymetallic Porphyry-Skarn Mineralization in Nevada

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1. Disclosure for the quote from the Stewart Thomson article published on May 15, 2026

1. For the quoted article (published on May 15, 2026, VR Resources Ltd. has paid Street Smart, an affiliate of Streetwise Reports, US$3,500.
2. Author Certification and Compensation: Stewart Thomson was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Thomson is a retired Canadian financial advisor who has passed the Canadian Securities Course as well as additional technical analysis courses that were mandated by his former employer and approved by Ontario regulatory bodies. For the past 15 years, he has been editing and writing numerous financial newsletters that have a strong focus on charts.  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.

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.

On July 7, 2026, VR Resources Ltd. (VRR:TSX; VRRCF:OTCQB; 5VR:FWB) announced the completion of a 2,892-foot (ft) hole through continuous, polyphase veining with sulfide at the Jeep Mine on its New Boston moly-tungsten-copper-silver skarn in central Nevada, U.S. Results are currently pending from whole-core hyperspectral mineral scanning and continuous geochemical sampling of the entire intersection.

According to the CEO of VR, Dr. Michael Gunning, "Drill hole NB26-003 achieved the primary objective of the program, and was longer than anticipated because of the veined and mineralized nature of the core. Further drilling will await integration of all geochemical data from this long and complex polyphase stockwork vein intersection into the company's expansive project database developed over the past seven years. There are eight approved sites for drilling on the company's current NOI drill permit. Data from NB26-003 will allow us to prioritize the various permitted drill sites for further drilling within the large-footprint alteration, vein, sulfide, and intrusive center that is now evident in three dimensions at Jeep Mine."

Gunning listed key takeaways from initial observations on the drill core that is now in for geochemical analysis:

• Continuity: Polyphase stockwork veins with vein and disseminated sulfide is logged in virtually all core boxes across the entire 2,892 ft intersection.
• Breadth: Gunning noted that NB26-003 did not drill through the target; it was terminated in veins with sulfide when the sub-vertical drill hole became unstable.
• Intensity: High-temp garnet skarn replacement and marbelization of host rock limestone occurs throughout the hole, from top to bottom.
• Energy: Gunning said, "Vein geometries include: sheeted (parallel to bedding); sinuous/ptygmatic; stockwork; conjugate; planar crack-seal, and vein breccia. Veins occur at all angles to the core axis throughout the 2,892 ft-intersection, from top to bottom of the hole."
• Polymetallic: Surface geochemistry at the drill hole site demonstrates molybdenum, tungsten, copper, and silver mineralization related to quartz-garnet stockwork veins in grey limestone recrystallized to marble.
• Source: There are numerous porphyry intrusive phases throughout the hole; they are the inferred source and driver of the mineralized sheeted veins exposed on surface at New Boston across some 2.1 km of strike east-west .

"New Boston has a mineral system of scale, location for infrastructure, jurisdictional history and pedigree in Nevada, and polymetallic composition all on its side to play into the current push towards domestic critical metal supply and resilience in North America. We look forward to providing further details on this drilling as mineral data and assays are received, results are integrated, and plans are made," said Gunning.    

VR Resources is a Canadian junior exploration company registered in British Columbia and focusing on copper, gold, and critical metal projects in Nevada, USA. The company also initiated a copper-nickel-PGM-gold strategy in western Ontario, Canada, in 2024; a strategy which it successfully farmed out in a transaction announced on February 26, 2026, with near-term upside potential via exploration milestones planned for both this summer and fall.

The company's introduction page cites VR's goal as being to ". . .  leverage its experience and expertise in grassroots exploration towards early-stage discovery in order to capture the steepest part of the value creation curve in the exploration and mining process for its shareholders."

Critical Metals Production Necessary

Tungsten and copper are both in-demand metals that show no signs of slowing down.

As one of the strongest metals in the world, with the highest melting point of all metals, tungsten's use in weaponry is critical in a time of war. China, Russia, and North Korea produce roughly 90% of the world's tungsten, which has left the U.S. scrambling to secure solid domestic supply sources since President Trump's tariffs sparked tension between the nations. As of January 1, 2027, a federal procurement rule will take effect that bans sourcing tungsten from China, Russia, Iran, and North Korea if it is to be used for U.S. defense operations.

The tungsten market as a whole is anticipated to grow from US$5.78 billion in 2026 to US$9.19 billion by 2034. The market is broad, with tungsten necessary for everything from weaponry to energy supply to lightbulbs. After experiencing a 667% rally earlier in 2026, this metal has stayed in high demand.

Demand for copper is expected to rise due to continued use in electronics, especially with the widespread construction of new data centers and defense needs America is experiencing. A report from Businessworld claimed that "global copper demand is gradually shifting towards strategic and less price-sensitive sectors such as AI infrastructure, defense, power grids, and clean energy systems. By 2040, these categories are expected to account for nearly 45% of total copper demand, up from 32% in 2024."

Copper has experienced some volatility this year. While a bull market for traders, physical products are trending toward a bear market due to potential tariffs. Last year, the looming potential of President Donald Trump's tariffs surged copper prices in the U.S. as American investors stockpiled the metal.

This hype created an overstocking of copper, widening the gap between futures and physical worth. "Collectively, inventories at the world's main exchanges have risen by more than 500,000 tons since the start of the year," stated a March 6 article by Bloomberg News. The imagined certainty of inaccessible copper due to tariffs evaporated, however, when premiums for U.S. copper futures disappeared, and the tariffs did not materialize. Trump may choose to impose tariffs next year, but analysts and investors are skeptical since his administration chose to forego them in January 2026.

Analyst Expects "Bullish" Stock Performance

In March 2026, Ben Pirie of Atrium Research discussed VR Resources' outlook, writing, "VR is advancing toward a catalyst-rich 2026 program, including follow-up drilling at New Boston and Bonita polymetallic porphyry systems in Nevada. Planned work programs are designed to test high-conviction geophysical anomalies and validate large-scale mineral system models, with multiple opportunities for discovery across jurisdictions with a history and pedigree in the global mining sector." 

¹On May 15, 2026, technical analyst Stewart Thomson rated the stock as a "Speculative Buy", with a short-term technical price target of CA$0.75, a medium-term price target of CA$2.30, and a long-term price target of CA$3.40. Thomson wrote: "The On Balance Volume [of the stock] has surged to a multi-year high, and The Chaikin Money Flows indicator is bullishly diverging with the price and is also at multi-year highs."

Catalysts Fill 2026 Plans

In 2026, the company lists multiple catalysts, including:

• At New Boston, further planned drill holes will target sheeted and stockwork veins in both sheeted porphyry dykes and in host rock Triassic limestone, and test for a potential discordant porphyry stock at depth. The Company intends to use the results from the current hole as a guide to prioritize follow-up drilling on an array of approved drill sites on its current NOI drill permit.
• The company recently completed a state-of-the-art 3D array DCIP geophysical survey at Bonita copper-gold project in Nevada. As announced on March 12, 2026, the resultant data are robust: the 3D resistivity model contains in the order of 187,000 data points, and the IP model approximately 135,500 data points. The goal of the survey is to provide a precise exploration vector for porphyry-style copper-sulfide veining that was intersected in initial reconnaissance drilling at Copper Queen in 2017, for which there is a clear association in anomalous copper-gold geochemistry. Follow-up drilling will be evaluated once all of the final data and model inversions from the recent survey are integrated with the company's vast array of data collected for the project, starting in 2015.
• VR received conditional acceptance of the proposed farm-out transaction of its Empire copper-nickel-PGM strategy in Ontario from the TSXV in a letter dated April 23, 2026, and will hold 9.9% of the Resulting Issuer's issued and outstanding shares on close of the transaction. Exploration milestones include airborne geophysics now underway and first pass drilling planned for later this summer or fall in order to advance the exploration strategy initiated by VR in 2024. This work presents near-term value creation potential for the company and its shareholders in the second half of 2026.    

Ownership & Share Information²

VR Resources Ltd. has a market cap of CA$3.78 million, with 39.79 million shares outstanding. The company's 52-week range is CA$0.10-CA$0.45.

Currently, the company reports approximately 1% of shares are owned by Management and Insiders post-consolidation, while around 25% are held by Institutions. The remaining 74% are held by Retail. Ownership details will be subject to change in light of recent share consolidation.