Kinross Gold Corporation

Issued on behalf of Greenland Mines Ltd.

Newmont reported $4,900/oz realized in Q1. Kinross reported $4,873. Agnico Eagle posted record operating margins. Barrick is preparing a NewCo IPO of its North American gold assets. The deposits that priced at $1,800 are now sitting on a different planet -- and the ones with the most ounces have the most to gain.

The gold price reset is over. Senior producers won it in Q1 2026 earnings, well before the analysts finished updating their decks. The market is still catching up. Newmont's (NYSE: NEM) $4,900-per-ounce realized price and $3.1 billion in quarterly free cash flow already reflect what the mining industry figured out two quarters ago^[1]: when the price deck moves from $1,800 to $4,900 on the same ore body, undeveloped ounces in the ground are effectively being revalued -- and the deposits that the 2022 economics treated as long-dated optionality now screen as potential near-term development candidates at the new deck.

CHARLOTTE, N.C., May 13, 2026 /CNW/ -- Baystreet.ca News Commentary -- That repricing has now been quantified on one of the largest undeveloped palladium-gold-platinum systems on Earth. Greenland Mines Ltd. (NASDAQ: GRML) released SLR Consulting's independent metal-price sensitivity analysis on its Skaergaard Project on May 7, 2026. Same block model. Same drill database. Same 1.43 g/t PdEq cut-off. Same 3.12 t/m³ bulk density. The only thing that changed was the price deck. The result: 16.58 million ounces of palladium-equivalent Indicated and 21.92 million ounces Inferred -- a 45% grade uplift in the Indicated category and 55% in the Inferred, on a block model that hasn't been touched since 2022^[2]. These figures are sensitivity scenarios, not new Mineral Resource or economic estimates; they illustrate how Skaergaard reads under different long term metal price assumptions.

That is what the senior-producer realized prices look like when you push them through an undeveloped resource estimate.

THE STRUCTURAL POSITION

The 2022 NI 43-101 Mineral Resource on Skaergaard, prepared by SLR Consulting (Canada) Ltd., established a Total Indicated and Inferred Resource of 364.37 million tonnes at 2.17 g/t PdEq, with the Indicated category alone at 158.95 million tonnes grading 2.22 g/t PdEq. That equates to 25.4 Moz palladium-equivalent and 23.5 Moz gold-equivalent across the combined Indicated and Inferred categories, which on an illustrative basis and before any technical or economic factors, corresponds to a gross undiscounted in-situ metal value of approximately $68 billion at February 2026 metal prices^[3]. Greenland Mines holds an 80% direct interest in the Project and an option on the remaining 20%.

The 2022 base case used $1,725/oz Pd, $1,800/oz Au, and $1,250/oz Pt. SLR's three sensitivity scenarios -- Low, Medium, and High -- applied updated metal price assumptions ranging from $3,000/oz Au in the Low case to $5,000/oz Au in the High case, leaving every other technical input untouched^[2]. The dominant variable in the read is the gold price.

Senior gold producers are currently realizing approximately $4,800 to $4,900 per ounce. The high-price sensitivity scenario is broadly aligned with that realized-price range, while still representing an upside long-term price case in SLR's framework. SLR explicitly notes that the increases in equivalent grades and contained PdEq metal are primarily driven by higher gold prices, and considers the high-price sensitivity case relatively aggressive, viewing the Low and Medium price sets as more reasonable long-term reference points^[2]. The 2026 field, drill, and bulk-sample campaign is fully funded.

President Bo Møller Stensgaard, Ph.D., described the result as the kind of scale and price leverage that long-term institutional and strategic partners look for in the next generation of precious- and critical-metal projects^[2].

READ THE ENTIRE REPORT ON GREENLAND MINES LTD HERE

THE SENIOR GOLD CYCLE

Four U.S.-listed senior gold producers reported Q1 2026 results in the same window as the Greenland Mines sensitivity work -- each one a different read on what realized gold prices in the $4,800 to $4,900 range are doing to the precious-metals industry.

Newmont (NYSE: NEM) -- the world's largest gold producer -- reported Q1 2026 results on April 23, 2026, with all-time record free cash flow of $3.1 billion, revenue of $7.31 billion (up 46% year-on-year), and adjusted earnings per share of $2.90 (an all-time quarterly record). Average realized gold price was $4,900 per ounce; gold by-product all-in sustaining cost was $1,029 per ounce; attributable gold production was 1.3 million ounces^[1]. The Board authorized an additional $6.0 billion for share repurchases. Newmont remains on track for full-year 2026 production guidance of 5.3 million attributable gold ounces. CEO Natascha Viljoen credited "strong operational and financial performance"^[1]. For investors trying to understand what the gold supercycle looks like at the income-statement level of the largest producer in the world, Newmont's Q1 is the cleanest available data point.

Barrick Mining (NYSE: B) (TSX: ABX) rebranded from "Gold" to "Mining" in May 2025, with its NYSE ticker changing from GOLD to B -- a structural acknowledgment that the Company is now a substantial gold-and-copper producer rather than a pure gold play. Q4 2025 results, released February 5, 2026, included record quarterly operating cash flow of $2.73 billion, free cash flow of $1.62 billion, and net earnings per share of $1.43 -- the highest in the Company's history. Full-year 2025 production was 3.26 million ounces of gold and a record 220,000 tonnes of copper. The 2026 guidance range is 2.9 to 3.25 million gold ounces at a $4,500/oz price assumption, with all-in sustaining costs guided to $1,760 to $1,950 per ounce^[4]. The Board has authorized preparations for an Initial Public Offering of a new entity ("NewCo") holding Barrick's North American gold assets -- including its joint venture interests in Nevada Gold Mines and Pueblo Viejo, plus the wholly owned Fourmile discovery in Nevada -- targeted for completion by late 2026. The structural signal is straightforward: the largest producers are now actively unlocking value through asset-level repricings and corporate restructurings.

Agnico Eagle Mines (NYSE: AEM) (TSX: AEM) reported Q1 2026 results on April 30, 2026, with payable gold production of 825,109 ounces, record quarterly operating margins, record adjusted net income of $1.7 billion (up 121% year-on-year), and free cash flow of $732 million^[5]. All-in sustaining cost was $1,483 per ounce. Operations were led by Detour Lake (record quarterly mill throughput at Macassa), Canadian Malartic, and Fosterville. The Hope Bay project in Nunavut, Canada is expected to advance to a construction decision in May 2026. Full-year 2026 production guidance is 3.3 to 3.5 million gold ounces -- a 20% to 30% production growth pipeline over the next decade. Agnico Eagle is the operational illustration of what an Arctic and Tier-1 jurisdiction-focused gold producer looks like at current realized prices.

Kinross Gold (NYSE: KGC) (TSX: K) reported Q1 2026 results on April 29, 2026, with revenue of $2.41 billion (up 61% year-on-year), production of 492,563 gold-equivalent ounces, and an average realized gold price of $4,873 per ounce^[6]. Most importantly, free cash flow was approximately $840 million -- the fourth consecutive quarterly record. Margins reached a record $3,476 per gold-equivalent ounce, outpacing the rise in the gold price itself. The Company ended Q1 with $2.2 billion in cash and $1.4 billion in net cash. Full-year 2026 guidance remains 2.0 million gold-equivalent ounces at a production cost of sales of $1,360 per ounce and an all-in sustaining cost of $1,730 per ounce. Kinross is targeting return of approximately 40% of free cash flow to shareholders in 2026 through dividends and buybacks. For investors evaluating the cash-flow conversion economics of the senior gold cycle, Kinross's margin expansion is the cleanest measure available.

THE GRML POSITION

Against that backdrop -- four senior gold producers reporting record financial metrics on realized gold prices in the $4,800 to $4,900 range -- Greenland Mines' May 7 sensitivity work translates the cycle into a tangible deposit-level number on one of the largest undeveloped Pd-Au-Pt systems on Earth.

The H5 horizon -- historically the highest-grade zone in the Skaergaard deposit -- moves from 2.85 g/t PdEq Indicated in the 2022 base case to 6.56 g/t PdEq Indicated in the High case. Total Indicated PdEq content moves from 11.41 Moz (2022) to 16.58 Moz; total Inferred from 14.11 Moz to 21.92 Moz^[2]. SLR also recommends that any future Mineral Resource updates be reported on a net smelter return (NSR) basis rather than using metal equivalents, in line with evolving practice under SK 1300 and NI 43-101.

The Skaergaard intrusion has been studied since the 1990s. Approximately $30 million of historical exploration investment has gone into building the 2022 NI 43-101 Mineral Resource. SLR Consulting (Canada) Ltd. is the Qualified Person firm. GTK Mintec is driving metallurgy and pilot processing at the Geological Survey of Finland's Outokumpu facility. WSP is leading the environmental baseline. Greenland Mines and its 80%-owned subsidiary Major Precious Greenland A/S were admitted to the European Raw Materials Alliance on April 22, 2026^[7]. The 2026 field, drill, and bulk-sample campaign is fully funded.

The 2026 program will begin evaluating open-pit and bulk-mining scenarios alongside the underground concept -- a separate, mine-method-based lever independent of any further metal-price assumption^[2].

The deposit didn't change. The math around it did.

FREQUENTLY ASKED QUESTIONS

What did the May 7, 2026 SLR sensitivity study actually conclude?

Applied to the existing 2022 underground-constrained Mineral Resource model, with all geologic and technical inputs held constant, the high-price sensitivity case indicates 16.58 million ounces of palladium-equivalent Indicated and 21.92 million ounces of palladium-equivalent Inferred -- a 45% grade uplift in the Indicated category and 55% in the Inferred versus the 2022 base case^[2].

Why is gold the dominant variable in the sensitivity analysis?

Approximately 73% of the contained metal at Skaergaard is in the platinum group metals and 27% is in gold by ounce count, but on a value basis, gold accounts for the majority of the in-situ value at $5,000/oz Au in the high-price case. That is why a move in the gold price deck from $1,800 (2022) to $5,000 (2026 high case) drives the dominant share of the 45% to 55% PdEq grade uplift^[2].

What is the 2026 program?

A fully funded summer field, drill, and bulk-sample campaign supported by SLR Consulting (geology / Qualified Person), GTK Mintec (metallurgy and pilot processing at the Geological Survey of Finland's Outokumpu facility), and WSP (environmental baseline). The program will begin evaluating open-pit and bulk-mining scenarios alongside the underground concept^[2].

Has GRML completed a feasibility study?

No. The most recent technical work is the 2022 NI 43-101 Mineral Resource Estimate. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. No preliminary economic assessment, pre-feasibility study, or feasibility study has been completed on the Skaergaard Project.

For more information about Greenland Mines Ltd. (NASDAQ: GRML), visit the Baystreet GRML profile.

Article Sources:

1. Newmont Corporation, "Newmont Generates Record Quarterly Earnings and Free Cash Flow, Reports First Quarter 2026 Results and Announces Increased Share Repurchase Authorization," April 23, 2026.
2. Greenland Mines Ltd., "Greenland Mines Reports Up To 45% – 55% Increase in Palladium Equivalent (PdEq) Grades at Skaergaard in Sensitivity Study," May 7, 2026.
3. Klotho Neurosciences, Inc., Form 8-K and accompanying disclosures regarding the acquisition of Greenland Mines Corp., March 4, 2026; Greenland Mines Ltd. corporate disclosures.
4. Barrick Mining Corporation, "Barrick Reports Full Year and Fourth Quarter 2025 Results," February 5, 2026; Barrick NewCo IPO authorization announcement.
5. Agnico Eagle Mines Limited, "Agnico Eagle Reports First Quarter 2026 Results, Including Record Quarterly Operating Margins and Adjusted Net Income," April 30, 2026.
6. Kinross Gold Corporation, "Kinross reports strong 2026 first-quarter results," April 29, 2026.
7. Greenland Mines Ltd., admission to the European Raw Materials Alliance announcement, April 22, 2026.

CONTACT:

BAYSTREET.CA

info@baystreet.ca

(604) 265-2873

Cautionary Note Regarding Mineral Resources: Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. The sensitivity cases referenced in this article are illustrative of the deposit's leverage to long-term metal price environments rather than economic estimates. No preliminary economic assessment, pre-feasibility study, or feasibility study has been completed on the Skaergaard Project. There is no certainty that any portion of the Mineral Resources will be converted to Mineral Reserves or that the Project will be brought into commercial production.

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Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Baystreet.ca is a wholly-owned subsidiary of B Street Media Inc. ("BAY"). The owners of BAY also own MIQ. BAY has not been paid directly by Greenland Mines Ltd.; however, the owner(s) of BAY also own MIQ, which has been paid a fee by Greenland Mines Ltd. directly. There may be 3rd parties who may have shares of Greenland Mines Ltd., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. BAY owns shares of Greenland Mines Ltd. which were purchased in the open market, and reserves the right to buy and sell, and will buy and sell shares of Greenland Mines Ltd. at any time without any further notice commencing immediately and ongoing. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated has been approved by Greenland Mines Ltd.; this is a paid advertisement, and we own shares of Greenland Mines Ltd. that we will sell, and we also reserve the right to buy shares of Greenland Mines Ltd. in the open market or through private placements, and/or other investment vehicles. 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 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.

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Rising demand, supply constraints, and accelerating acquisitions position precious metals sector for multi-trillion-dollar expansion

NEW YORK, May 5, 2026 /CNW/ -- Market News Updates News Commentary - Gold operations are in a really strong spot right now, and the trend still looks positive. Prices have stayed elevated after a big run in 2025, and most forecasts are calling for gold to push into the $5,000–$6,000+ per ounce range over the next couple of years. That kind of pricing keeps margins healthy for producers and makes existing mines a lot more valuable. On top of that, central banks and large investors are still buying aggressively, which adds a steady layer of demand. If prices keep moving higher, the overall gold market--already massive--could realistically grow toward $20 trillion or more, which is a big tailwind for companies operating in the space. Active Mining Companies of interest include: Emergent Metals Corp. (OTCQB: EGMCF) (TSXV: EMR), Fairchild Gold Corp. (OTCQB: FCHDF) (TSXV: FAIR), Hecla Mining Company (NYSE: HL), Newmont Corporation (NYSE: NEM), Kinross Gold Corporation (NYSE: KGC) (TSX: K).

Silver is arguably even more interesting because it has more upside potential. It's not just a precious metal--it's heavily used in solar panels, electronics, and new tech, so demand keeps climbing. At the same time, supply hasn't been able to keep up, and we're now several years into a global deficit. That imbalance is a big reason why analysts see silver moving into the $70–$100+ range, with spikes potentially going higher. Since silver starts from a much smaller market size, it doesn't take as much capital flowing in to move prices. That's why you could see the silver market grow from around $1.5–2 trillion today to $3–5 trillion if prices follow that trajectory.

When you put it all together, it's easy to see why mining companies are actively acquiring new projects and consolidating assets. There simply aren't enough new discoveries, and good deposits are getting harder to find. Higher prices mean every ounce in the ground is worth more, so companies are trying to lock in future supply now rather than later. Overall, the setup looks pretty favorable--strong demand, limited supply, and rising valuations are all lining up to support continued growth across both gold and silver operations.

Emergent Metals Corp. Provides an Update on its Sale of the Golden Arrow Property, NV - Emergent Metals Corp. (TSXV: EMR) (OTCQB: EGMCF) (FRA: EML) (MUN: ELM) ("Emergent" or the "Company") announces that, further to the Company's news releases dated September 29, 2025, March 24, 2026 and April 10, 2026, Fairchild Gold Corp. (OTCQB: FCHDF) (TSXV: FAIR) ("Fairchild") has initiated the process of seeking shareholder approval to complete the acquisition of Emergent's Golden Arrow Property (the "Transaction"). It is the Company's understanding that Fairchild requires shareholder approval for the Transaction pursuant to applicable TSX Venture Exchange (the "TSXV") policies.

Fairchild has indicated that it is in the process of preparing a management information circular and related proxy materials (collectively, the "Meeting Materials") that will be delivered to the holders of Fairchild's common shares (collectively, the "Fairchild Shareholders") in connection with a special meeting of the Fairchild Shareholders to be held on June 9, 2026 (the "Fairchild Meeting"). At the Fairchild Meeting, the Fairchild Shareholders are expected to be asked to consider, and if deemed advisable, approve the Transaction under the terms and conditions of the asset purchase agreement between the Company, Fairchild and their respective subsidiaries dated March 23, 2026.

Subject to Fairchild receiving the approval of the Fairchild Shareholders, each of the parties receiving all necessary regulatory approvals, including the final acceptance of the TSXV, and other customary closing conditions, the Transaction is expected to close sometime in June 2026.

Emergent is a gold and base metal exploration company focused on Nevada and Quebec. The Company's strategy is to look for quality acquisitions, add value to these assets through exploration, and monetize them through sales, joint ventures, options, royalties, and other transactions to create value for its shareholders – an acquisition and divestiture business model Emergent calls a Project Accelerator. Continued… Read this full release along with full terms and additional news for Emergent Metals by visiting: https://research.quotemedia.com/equity/home/overview?symbol=EMR:CA&qmodStoryID=6580849847248501

Latest News and Developments for Mining Companies include:

Hecla Mining Company (NYSE: HL) has released its 2025 Sustainability Report, highlighting the Company's environmental, social and governance (ESG) performance.

"As Hecla continues its transformation into North America's Premier Silver Company, 2025 proved that purpose and performance are not competing priorities -- they are the same priority," said Rob Krcmarov, President and CEO of Hecla Mining Company. "This year, we delivered silver production at the top end of our guidance, achieved a 13% improvement in safety performance, and produced the critical minerals the world needs to power its future -- all while strengthening our environmental standards, deepening our indigenous partnerships, and contributing more than $1 billion in direct economic impact to the communities where we operate. The U.S. government's designation of silver as a critical mineral affirms what we have always believed: that responsible, domestic production of silver is strategically essential. With our sustainability policy now in place and our values embedded across every level of the company, Hecla is setting the standard for how responsible mining should be done."

Newmont Corporation (NYSE: NEM) reported gold Mineral Reserves ("reserves") of 118.2 million attributable ounces at the end of 2025 compared to 134.1 million attributable ounces at the end of 2024, mainly driven by the divestment of assets in 2025. Newmont's portfolio includes significant reserves from other metals, including 12.5 million attributable tonnes of copper reserves and 442 million attributable ounces of silver reserves.

"In 2025, Newmont maintained its position of having the industry's largest gold reserve base, declaring 118 million ounces of reserves, representing decades of production life with meaningful upside," said Natascha Viljoen, Newmont's President and Chief Executive Officer. "Through the disciplined application of technical rigor in our leading exploration program, we remain focused on extending mine life, discovering new opportunities, and unlocking value across our world-class portfolio of operations and projects."

Kinross Gold Corporation (TSX: K) (NYSE: KGC) has announced the detailed voting results of the election of its Board of Directors, which took place at the Company's Annual Meeting of Shareholders on April 30, 2026. The nominees listed in the Management Information Circular dated March 3, 2026, were elected as directors of Kinross at the meeting.

Kinross is a Canadian-based global senior gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile and Canada. Our focus is on delivering value based on the core principles of responsible mining, operational excellence, disciplined growth, and balance sheet strength. Kinross maintains listings on the Toronto Stock Exchange (symbol: K) and the New York Stock Exchange (symbol: KGC).

DISCLAIMER: MarketNewsUpdates.com (MNU) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. MNU is NOT affiliated in any manner with any company mentioned herein. MNU and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. MNU'S market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. MNU is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. This press release was distributed on behalf of Emergent Metals Corp. For current services performed MNU was compensated twenty six hundred dollars for news coverage of the current press releases issued by Emergent Metals Corp. by a non-affiliated third party. MNU HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MNU undertakes no obligation to update such statements.

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