Adamera Expands Glix Gold Skarn Work at South Hedley Near Historic Mines and Hudbay's Copper Mountain

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1. Disclosure for the quote from the Stewart Thomson article published on September 25, 2026

1. Adamera Minerals Corp. has paid Street Smart (an affiliate of Streetwise Reports) a fee of US$3,500 for the preparation of an independent technical research report, published on September 25, 2026.
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. Mr. Thomson is not an investment advisor. He does not know the financial situation or risk tolerance of any reader. 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. Mr. Thomson owns no securities in Adamera Minerals Corp.,  and he has no direct financial relationship with the company.

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.

Adamera Minerals Corp. (ADZ:TSX.V; DDNFF:OTCMKTS) announced on October 15, 2026, an expanded 2026 exploration program at the Glix gold skarn target on its South Hedley Project in British Columbia, located about 20 km from the past-producing Nickel Plate and Hedley Mascot gold skarn mines.

The work runs concurrently with ongoing efforts at the Max copper-gold porphyry target roughly 12 km (kilometers) away on the same claim block, positioning the company in a proven district near HudBay Minerals Inc.'s (HBM:TSX; HBM:NYSE) Copper Mountain mine.

Key Investor Takeaways

• Adamera's October 15, 2026, release details expanded 2026 geophysics and soil sampling at the Glix gold skarn target, bringing magnetic coverage to 85 line-km and VLF-EM to 17 line-km ahead of planned IP and drilling.
• The Glix program runs concurrently with Max's porphyry work on the same 25,000-hectare South Hedley block, offering two target styles in one district.
• The Max IP anomaly has grown to roughly 3 km along strike and remains open eastward, with strong chargeability up to 59 mV/V coincident with high copper-gold soil values, 18 km from Hudbay Minerals' Copper Mountain mine.
• Drill permits for Glix and Max, submitted in February 2026, continue to advance as near-term catalysts.
• Adamera's location in the Quesnel Trough provides peer positioning to established operations like Copper Mountain, where Hudbay holds substantial reserves and a long mine life.
• Pending soil assay results from step-out sampling and integrated geophysical interpretation offer additional data points before drilling.
• Funding from the August 2026 placement supports ongoing low-cost exploration programs.

Expanded Geophysics and Sampling at Glix

The October 15 release detailed additional ground magnetics, VLF-EM surveying, and 119 step-out soil samples at Glix to map conductive zones, structural controls, and possible skarn mineralization ahead of drill targeting. Total magnetic coverage now reaches 85 line-km, and VLF-EM coverage 17 line-km. An induced polarization (IP) survey is planned over priority coincident anomalies, while drill permit applications submitted in February 2026 for both Glix and Max continue to advance.

2025 soil sampling at Glix outlined a gold-arsenic-zinc-copper anomaly with values up to 4,280 ppb (parts per billion) gold (Au), coincident with VLF-EM conductors and a broad magnetic low interpreted as possible skarn alteration. Results from the new step-out samples are pending, with integrated interpretation of geophysics and geochemistry to follow.

Mark Kolebaba, President and CEO of Adamera, said in the release, "While we advance the Max copper-gold porphyry target, we are expanding the Glix exploration program. The work includes additional ground magnetics, VLF-EM, and soil sampling. The objective is to map conductive and magnetic signatures associated with sulphide-bearing skarns in the area to help guide the selection of drill locations."

How South Hedley Stacks Up Against Hudbay's Copper Mountain Operation

Adamera's South Hedley Project covers approximately 25,000 hectares between Princeton and Hedley, lying within the Quesnel Trough porphyry belt and about 18 km from Hudbay Minerals' producing Copper Mountain mine. Hudbay reports proven and probable mineral reserves of 345 million tonnes grading 0.256% copper (Cu) at Copper Mountain, supporting expected average production of 48,000 tonnes of copper per year over the next three years and a mine life spanning until 2045.

Technical analyst Stewart Thomson assigned the company a "Speculative Buy" rating, with short-, medium-, and long-term price targets of CA$0.80, CA$1.65, and CA$2.40, respectively.¹

Adamera's Max target features a growing IP chargeability anomaly now approximately 3 km along strike and 3-4 km wide along survey lines, remaining open to the east, coincident with soil values up to 1,450 ppm Cu and 1.34 g/t Au.

The Glix skarn target adds a second style of mineralization on the same large land package, with historical production from nearby Nickel Plate and Hedley Mascot mines exceeding 2 million ounces of gold. Both companies operate in the same established mining district, though Adamera remains at the pre-drilling geophysical and geochemical stage.

The South Hedley property has expanded with recent claim applications. Adamera closed a CA$815,000 private placement in August 2026 and continues low-cost geophysics and sampling while advancing permits. The company also maintains a tungsten portfolio in Washington State.

Copper and Tungsten: Both Critical Metals

Demand for copper is expected to grow as data-center construction, power-grid investment, electric vehicles, and defense applications expand. A 2026 study from S&P Global projected that global copper demand would increase from approximately 28 million metric tons in 2025 to 42 million metric tons by 2040, a rise of about 50%. The study identified core economic activity and energy transitions as the primary drivers of additional demand, while AI data centers and defense were highlighted as emerging sources of consumption.

Meeting this demand will depend in part on the growth of global copper supplies. In a separate January 2026 report, S&P Global warned that the copper market could face a shortfall of approximately 10 million metric tons by 2040 without significant new supply. The report projected that mined copper production could peak around 2030 before declining as existing mines age, while recycled copper would offset only a portion of the additional demand. The International Energy Agency also continues to monitor copper as a critical mineral, with its 2026 Critical Minerals Data Explorer offering updated demand projections across multiple energy and technology scenarios.

U.S. trade policy has also influenced copper markets and inventory levels. On April 2, 2026, the White House revised the Section 232 tariff regime for copper, along with other metals, so that applicable duties would generally be calculated on the full customs value of covered products rather than solely on their metal content.

The proclamation established additional duties ranging from 10% to 50%, depending on the product, its origin, and how it is treated under the relevant provisions.

These tariff changes have contributed to unusual movements in copper imports and inventories. Reuters reported in August 2026 that U.S. copper imports had reached 885,000 metric tons in the first half of the year, while COMEX inventories rose to a record 675,185 tons as traders reacted to the possibility of future tariffs on refined copper. Meanwhile, London Metal Exchange copper prices approached record levels, highlighting how tariff expectations in the U.S. have influenced the distribution of available metal amid broader concerns about supply disruptions and rising demand.

Domestic production remains another consideration for the U.S. copper market. The U.S. Geological Survey's 2026 Mineral Commodity Summaries estimated U.S. mine production at approximately 1 million metric tons in 2025, down from 1.05 million metric tons in 2024. Refined copper production was estimated at 850,000 metric tons. The USGS also added copper to the U.S. critical minerals list in 2025.

Adamera also explores for tungsten, a niche metal whose recent performance has rivaled that of larger commodity markets. "Project Blue estimates its value at about US$16 billion this year — roughly 5% of the copper market at current prices. It is also far more opaque and illiquid, as it does not trade on major exchanges. Even so, its gains over the past year have far outpaced those of commodities such as gold and oil," according to Mining.com. Tungsten is used in military applications, including munitions, and has drawn attention for its role in defense supply chains during periods of heightened geopolitical tension.

Technical Analyst Calls Out Bull Wedge Pattern

¹Technical analyst Stewart Thomson reviewed Adamera on September 25, 2026, drawing attention to the company's 1.6-kilometer Max copper-gold chargeability anomaly, pending drill permits, and anticipated soil assay results.

Thomson described Adamera as "well-positioned at the inflection point between geophysical discovery and first drilling" and noted several potential catalysts on the horizon. He assigned the company a "Speculative Buy" rating, with short-, medium-, and long-term price targets of CA$0.80, CA$1.65, and CA$2.40, respectively.

Thomson also highlighted technical indicators on Adamera's chart, including a bull wedge pattern, a rising relative strength index (RSI), and buy signals from the stochastic oscillator and moving average convergence divergence (MACD). He cited drill-permit approvals, soil assay results, further induced polarization (IP) surveying, and exploration of the Bromley claims as potential catalysts.

Near-Future Catalysts

Adamera continues to refine targets at South Hedley with low-cost methods while permits advance, setting the stage for potential drilling on both the Glix skarn and Max porphyry targets in a district with established production nearby.

Ownership & Share Information²

Adamera Minerals Corp. has a market cap of CA$8.45 million, with 67.63 million shares outstanding. The company's 52-week range is CA$0.05-CA$0.23.

Institutions own 1.30% of shares, while Management & Insiders own 4.66%. The remaining 94.04% of shares are Retail. 

Frequently Asked Questions

What does the latest Glix expansion include?

The October 15, 2026, program adds ground magnetics, VLF-EM, and 119 step-out soil samples to map skarn-related signatures, with an IP test survey planned over priority targets and permits advancing for drilling.

How does Adamera's position compare to Hudbay's Copper Mountain?

Adamera's Max target sits 18 km from Hudbay's producing mine, with a growing IP anomaly and soil geochemistry in the same Quesnel Trough belt; Hudbay reports large reserves and ongoing production, while Adamera is pre-drill.

What are the next steps at South Hedley?

Integration of new geophysics and pending soil results, expansion of surveys as needed, the IP test, and advancement of drill permits submitted in February 2026.

Does Adamera have other assets?

Yes, the company maintains a tungsten portfolio in Washington State alongside its British Columbia copper-gold exploration.

When might drilling begin?

Permitting is ongoing; no specific start date has been announced.

What is a gold skarn deposit?

A gold skarn deposit forms when hot, mineral-rich fluids interact with and chemically alter carbonate-rich rocks, often near an intrusive body. These reactions can produce minerals containing gold and other metals. Geologists use geological mapping, geochemistry, and geophysical surveys to identify potential skarn targets.

What is a porphyry copper-gold deposit?

A porphyry copper-gold deposit is a large mineral system in which copper and often gold occur within and around intrusive igneous rocks. Mineralization is commonly dispersed through networks of small veins and altered rock rather than concentrated in a single vein. These deposits can be explored using drilling, geochemical sampling, and geophysical methods.

What is induced polarization (IP) surveying in mineral exploration?

Induced polarization is a geophysical method that measures how rocks temporarily store electrical charge after an electrical current is applied. Elevated chargeability can indicate the presence of disseminated sulphide minerals, which may occur with copper-gold mineralization. However, an IP anomaly is an exploration target, not proof of an economic deposit.

What is a soil geochemical anomaly?

A soil geochemical anomaly is an area where soil samples contain unusually high concentrations of particular elements compared with surrounding or background levels. Anomalies in elements such as gold, copper, arsenic, or zinc can help geologists identify areas for further exploration, although additional work is needed to determine the source and significance of the results.

What is the Quesnel Trough, and why is it important for copper exploration?

The Quesnel Trough is a geological belt in British Columbia known for porphyry copper-gold deposits and producing mines. Its geology makes it a significant area for mineral exploration, but the presence of established mines in the region does not establish that nearby exploration targets contain economically recoverable resources.