EDM Resources advances Scotia Mine toward production decision after Q1 progress

EDM Resources Inc (TSX-V:EDM, OTC:SWNLF) said connected Wednesday it made headway connected permitting, financing and improvement activities successful the archetypal 4th of 2026, arsenic the institution moves person to a imaginable accumulation determination for its Scotia Mine task successful Nova Scotia.

The Canadian miner said its exertion for a Fisheries Act Authorization has entered a ceremonial 90-day reappraisal process aft being deemed implicit by the Department of Fisheries and Oceans, supported by a C$1.16 cardinal show bond.

At the Scotia Mine, EDM has launched a two-phase golden exploration programme aimed astatine expanding resources and enhancing near-term value. An updated NI 43-101 mineral assets estimation is expected successful the 2nd quarter.

The institution said it is besides finalizing the scope and costing of a pre-feasibility study, which volition incorporated revised superior and operating assumptions, including the usage of dense media separation exertion and updated commodity terms forecasts.

“EDM achieved important advancement crossed permitting, superior markets, and task development,” CEO Mark Haywood said.

“With the Fisheries Act Authorization present entering the ceremonial reappraisal phase, continued strengthening of our superior structure, and the advancement of method and exploration programs, the Company is good positioned to modulation toward a accumulation decision."

On the financing front, EDM reported proceeds of astir C$617,000 from the workout of much than 4.4 cardinal warrants priced astatine C$0.14. The institution besides generated astir C$552,800 successful nett proceeds from the merchantability of units successful Silver Crown Royalties.

EDM added that its shares traded supra the threshold required to accelerate definite warrants during March, a milestone it said supports improved superior markets positioning. The institution is besides successful the last stages of securing a quotation connected the OTCQB Venture Market, with trading expected to statesman successful May, taxable to approvals.

Looking ahead, EDM said its priorities for the existent 4th see advancing done the regulatory reappraisal process, completing its OTCQB listing, delivering archetypal exploration results and progressing method studies.