The Gold Bull Market: Record Margins for Majors Create Ideal Conditions for Discovery Plays December 17, 2025 - Baystreet.ca Issued on behalf of GoldHaven Resources Corp. VANCOUVER – Baystreet.ca News Commentary – The gold market has delivered its best annual performance since 1979, with prices surging over 60% year-to-date while setting more than 50 all-time highs in 2025[1]. Meanwhile, gold miners are generating unprecedented profit margins as the gap between production costs and realized prices widens to historic levels[2]. This environment is creating a dual-track boom: generating record free cash flow for producers while actively re-rating explorers that can demonstrate district-scale potential: GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF), Minera Alamos Inc. (TSXV: MAI) (OTCQX: MAIFF), Integra Resources Corp. (NYSE-A: ITRG) (TSXV: ITR), i-80 GOLD CORP. (NYSE-A: IAUX) (TSX: IAU), and Orezone Gold Corporation (TSX: ORE) (OTCQX: ORZCF). Goldman Sachs raised its 2026 gold price target to $4,900 per ounce, citing significant upside potential as central bank demand and investor diversification accelerate[3]. With central banks purchasing 634 tonnes through the first three quarters of 2025, sustained institutional accumulation continues to create favorable conditions for companies positioned to benefit from structurally higher gold prices[4]. GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) has completed its inaugural diamond drilling program at the Copeçal Gold Project in Brazil, marking a significant milestone as the first diamond drilling campaign ever conducted on the 3,681-hectare property. The company reported that nine holes totaling 1,085.7 meters successfully tested two priority gold targets, with potential gold-bearing minerals intersected at the East Target and all drill core now being logged and sampled for laboratory assay before year-end. The program delivered GoldHaven's first subsurface confirmation that surface gold readings connect to mineralization at depth. Hole COPE-PDH-004 intersected potential gold-bearing minerals across approximately 30 meters, prompting GoldHaven to drill follow-up hole COPE-PDH-009, which discovered bornite, a copper-rich mineral never before identified at Copeçal. The presence of bornite is significant because it commonly appears in large-scale gold-copper systems and suggests GoldHaven may have intersected a substantial mineralized system with potential for both gold and copper mineralization. This discovery could materially expand the project's economic scope beyond a single-metal gold deposit. "Intersecting sulphide mineralisation in Hole COPE-PDH-004 and subsequently in follow-up Hole COPE-PDH-009 at our East Target during a first-pass drilling program has provided valuable new geological insights," said Rob Birmingham, CEO of GoldHaven Resources. "These results continue to enhance our understanding of the system as we integrate geological, structural, and geochemical data to refine targeting across both the East and West anomalies, as well as other prospective targets identified from our newly developed 3D diamond drilling dataset at Copeçal." At the West Target, drilling penetrated approximately 60 meters of weathered rock containing fractured zones with gold-bearing quartz, suggesting potential gold mineralization that could have been concentrated during the weathering process. Laboratory results from these zones will determine whether significant gold grades exist across the western target area, potentially opening a second mineralized corridor on the property. The Copeçal Project sits within the prolific Juruena Gold Province, the same region hosting G-Mining's Tocantinzinho deposit and multiple recent gold discoveries, underscoring the district-scale exploration potential. The province has produced major gold deposits over the past decade. Beyond Brazil, GoldHaven continues advancing its British Columbia portfolio, including recent expansion to its Magno Project in the Cassiar region and the Three Guardsmen Project, where recent surface sampling returned copper grades up to 15.85%. GoldHaven now commands 123,900 hectares across two premier mining jurisdictions, with its first-ever diamond drilling campaign at Copeçal complete and laboratory results pending that could confirm gold grades, thickness, and continuity, potentially defining the scale and economic viability of the company's Brazilian flagship project, all underpinned by a comprehensive 43-101 Technical Report. For a full profile of GoldHaven Resources click here. CONTINUED… Read this and more news for GoldHaven Resources at: https://usanewsgroup.com/2025/09/23/the-goldhaven-story-two-continents-one-strategy-systematic-historic-gold-district-exploration/ In other industry developments and happenings in the market include: Minera Alamos Inc. (TSXV: MAI) (OTCQX: MAIFF) completed the transformative acquisition of Equinox Gold's Nevada assets on October 1, 2025, achieving its first gold pour from the Pan Operating Complex on October 7, 2025 with total October production of 3,093 ounces. The company reiterated 2025 Pan Mine operating guidance targeting 30,000–40,000 gold ounces at an all-in sustaining cost of US$1,600–$1,700 per ounce. "The combination of our recently closed Nevada assets acquisition with the current strong gold price environment is transformative for Minera Alamos," said Darren Koningen, CEO of Minera Alamos. "We are also moving quickly to bolster our corporate profile by continuing to strengthen our management team, and are applying to graduate to a TSX listing, as well as completing a share consolidation." The company strengthened its management team with the appointments of Jason Kosec as Chairman, Darren Blasutti as Executive Vice President, Corporate Development, and David Stewart as Vice President, Capital Markets & Strategy. Minera Alamos intends to graduate from the TSX Venture Exchange to the Toronto Stock Exchange in Q1 2026 and complete a 10:1 share consolidation. Integra Resources Corp. (NYSE American: ITRG) (TSXV: ITR) has reported record quarterly results for the third quarter of 2025, with the Florida Canyon Mine producing 20,653 gold ounces and selling 20,265 ounces at a record average realized price of $3,464 per ounce, generating record revenue of $70.7 million. The company achieved adjusted earnings of $16.3 million and ended the quarter with cash of $81.2 million, a 29% increase from $63.0 million in the second quarter. "We are pleased to report another strong quarter for the Company, supported by excellent production results at Florida Canyon and material advancement at our development stage assets, DeLamar and Nevada North," said George Salamis, President, CEO and Director of Integra Resources Corp. "Excellent production results, combined with a strong gold price environment have allowed Integra to significantly increase its quarter-over-quarter cash balance to ~$81 million, marking the strongest financial position in the Company's history." The company advanced its resource growth drilling program at Florida Canyon and achieved key milestones at DeLamar, including a completeness determination by the United States Bureau of Land Management for the updated Mine Plan of Operations. Year-to-date Mine-site all-in sustaining costs of $2,542 per gold ounce remain within the guidance range of $2,450 to $2,550 per ounce. i-80 GOLD CORP. (NYSE-A: IAUX) (TSX: IAU) reported third quarter 2025 results showing revenue increased to $32.0 million compared to $11.5 million in the prior year period, driven by higher gold ounces sold at Granite Creek and an average realized gold price of $3,412 per ounce. The company sold 9,368 ounces of gold for the quarter, nearly double the 4,740 ounces sold in the prior year period, while gross profit improved to $3.1 million from a gross loss of $4.9 million due to improved water management initiatives. "I am pleased to report the third quarter marked another period of solid execution in advancing our multi-asset development strategy in Nevada," said Richard Young, President & CEO of i-80 Gold. "During the quarter, underground development advanced at Granite Creek, construction commenced at Archimedes underground, and technical studies and permitting advanced across the portfolio." The company received all required permits and commenced construction at Archimedes, its second planned underground mine, while completing approximately 53,000 feet of core drilling to support planned feasibility studies. i-80 Gold remains on track to meet 2025 production guidance of 30,000 to 40,000 ounces, with technical studies expected for Lone Tree autoclave refurbishment in Q4 2025 and feasibility studies for Granite Creek and Cove underground in Q1 2026. Orezone Gold Corporation (TSX: ORE) (OTCQX: ORZCF) completed first gold from its new 2.5Mtpa hard rock expansion at the Bomboré Gold Mine on December 15, 2025, with mill throughput averaging 78% of nameplate capacity during the first five days of operations. The stage 1 expansion was delivered on time and on budget over approximately 12 months of construction. "Commissioning of this plant is now complete, with mill throughput averaging 78% of nameplate capacity for the first 5 days of operations, resulting in first gold on December 15," said Patrick Downey, CEO of Orezone Gold Corporation. "Commercial production is expected to be declared in early Q1-2026, and will represent a major milestone for Orezone, with overall gold production at Bomboré set to increase by 45% to 170,000-185,000oz in 2026." The company is advancing stage 2 of the hard rock expansion, which is forecasted to increase annual production to between 220,000 and 250,000 ounces. Orezone enters 2026 with a solid balance sheet positioned to capitalize on record high gold prices during this significant cash flow inflection point. Article Source: https://usanewsgroup.com/goh-profile/ and https://usanewsgroup.com/2025/09/23/the-goldhaven-story-two-continents-one-strategy-systematic-historic-gold-district-exploration/ CONTACT: Baystreet.ca [email protected] (805) 649-0042 DISCLAIMER: 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 owned by Baystreet.ca Media Corp. (“BAY”). BAY has been paid a fee of for GoldHaven Resources Corp. advertising and digital media for this article. There may be 3rd parties who may have shares of GoldHaven Resources Corp., 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. The owner/operator of “BAY” reserve the right to buy and sell, and will buy and sell shares of GoldHaven Resources Corp. 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, including this article, which is disseminated by BAY has been approved by GoldHaven Resources Corp. Technical information relating to GoldHaven Resources Corp. has been reviewed and approved by Jonathan Victor Hill, B.Sc. Hons, FAusIMM, a Qualified Person consistent with NI 43-101 and Country Manager of GoldHaven, and therefore is not independent of the Company; 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 the 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. SOURCES CITED: 1. https://www.gold.org/goldhub/research/gold-outlook-2026 2. https://www.vaneck.com/us/en/blogs/gold-investing/gold-in-2025-a-new-era-of-structural-strength-and-enduring-appeal/ 3. https://www.kitco.com/news/article/2025-12-11/goldman-sachs-sees-significant-upside-its-2026-gold-price-target-4900oz 4. https://www.gold.org/goldhub/research/gold-demand-trends/gold-demand-trends-q3-2025
The Gold Bull Market: Record Margins for Majors Create Ideal Conditions for Discovery Plays December 17, 2025 - Baystreet.ca Issued on behalf of GoldHaven Resources Corp. VANCOUVER – Baystreet.ca News Commentary – The gold market has delivered its best annual performance since 1979, with prices surging over 60% year-to-date while setting more than 50 all-time highs in 2025[1]. Meanwhile, gold miners are generating unprecedented profit margins as the gap between production costs and realized prices widens to historic levels[2]. This environment is creating a dual-track boom: generating record free cash flow for producers while actively re-rating explorers that can demonstrate district-scale potential: GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF), Minera Alamos Inc. (TSXV: MAI) (OTCQX: MAIFF), Integra Resources Corp. (NYSE-A: ITRG) (TSXV: ITR), i-80 GOLD CORP. (NYSE-A: IAUX) (TSX: IAU), and Orezone Gold Corporation (TSX: ORE) (OTCQX: ORZCF). Goldman Sachs raised its 2026 gold price target to $4,900 per ounce, citing significant upside potential as central bank demand and investor diversification accelerate[3]. With central banks purchasing 634 tonnes through the first three quarters of 2025, sustained institutional accumulation continues to create favorable conditions for companies positioned to benefit from structurally higher gold prices[4]. GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) has completed its inaugural diamond drilling program at the Copeçal Gold Project in Brazil, marking a significant milestone as the first diamond drilling campaign ever conducted on the 3,681-hectare property. The company reported that nine holes totaling 1,085.7 meters successfully tested two priority gold targets, with potential gold-bearing minerals intersected at the East Target and all drill core now being logged and sampled for laboratory assay before year-end. The program delivered GoldHaven's first subsurface confirmation that surface gold readings connect to mineralization at depth. Hole COPE-PDH-004 intersected potential gold-bearing minerals across approximately 30 meters, prompting GoldHaven to drill follow-up hole COPE-PDH-009, which discovered bornite, a copper-rich mineral never before identified at Copeçal. The presence of bornite is significant because it commonly appears in large-scale gold-copper systems and suggests GoldHaven may have intersected a substantial mineralized system with potential for both gold and copper mineralization. This discovery could materially expand the project's economic scope beyond a single-metal gold deposit. "Intersecting sulphide mineralisation in Hole COPE-PDH-004 and subsequently in follow-up Hole COPE-PDH-009 at our East Target during a first-pass drilling program has provided valuable new geological insights," said Rob Birmingham, CEO of GoldHaven Resources. "These results continue to enhance our understanding of the system as we integrate geological, structural, and geochemical data to refine targeting across both the East and West anomalies, as well as other prospective targets identified from our newly developed 3D diamond drilling dataset at Copeçal." At the West Target, drilling penetrated approximately 60 meters of weathered rock containing fractured zones with gold-bearing quartz, suggesting potential gold mineralization that could have been concentrated during the weathering process. Laboratory results from these zones will determine whether significant gold grades exist across the western target area, potentially opening a second mineralized corridor on the property. The Copeçal Project sits within the prolific Juruena Gold Province, the same region hosting G-Mining's Tocantinzinho deposit and multiple recent gold discoveries, underscoring the district-scale exploration potential. The province has produced major gold deposits over the past decade. Beyond Brazil, GoldHaven continues advancing its British Columbia portfolio, including recent expansion to its Magno Project in the Cassiar region and the Three Guardsmen Project, where recent surface sampling returned copper grades up to 15.85%. GoldHaven now commands 123,900 hectares across two premier mining jurisdictions, with its first-ever diamond drilling campaign at Copeçal complete and laboratory results pending that could confirm gold grades, thickness, and continuity, potentially defining the scale and economic viability of the company's Brazilian flagship project, all underpinned by a comprehensive 43-101 Technical Report. For a full profile of GoldHaven Resources click here. CONTINUED… Read this and more news for GoldHaven Resources at: https://usanewsgroup.com/2025/09/23/the-goldhaven-story-two-continents-one-strategy-systematic-historic-gold-district-exploration/ In other industry developments and happenings in the market include: Minera Alamos Inc. (TSXV: MAI) (OTCQX: MAIFF) completed the transformative acquisition of Equinox Gold's Nevada assets on October 1, 2025, achieving its first gold pour from the Pan Operating Complex on October 7, 2025 with total October production of 3,093 ounces. The company reiterated 2025 Pan Mine operating guidance targeting 30,000–40,000 gold ounces at an all-in sustaining cost of US$1,600–$1,700 per ounce. "The combination of our recently closed Nevada assets acquisition with the current strong gold price environment is transformative for Minera Alamos," said Darren Koningen, CEO of Minera Alamos. "We are also moving quickly to bolster our corporate profile by continuing to strengthen our management team, and are applying to graduate to a TSX listing, as well as completing a share consolidation." The company strengthened its management team with the appointments of Jason Kosec as Chairman, Darren Blasutti as Executive Vice President, Corporate Development, and David Stewart as Vice President, Capital Markets & Strategy. Minera Alamos intends to graduate from the TSX Venture Exchange to the Toronto Stock Exchange in Q1 2026 and complete a 10:1 share consolidation. Integra Resources Corp. (NYSE American: ITRG) (TSXV: ITR) has reported record quarterly results for the third quarter of 2025, with the Florida Canyon Mine producing 20,653 gold ounces and selling 20,265 ounces at a record average realized price of $3,464 per ounce, generating record revenue of $70.7 million. The company achieved adjusted earnings of $16.3 million and ended the quarter with cash of $81.2 million, a 29% increase from $63.0 million in the second quarter. "We are pleased to report another strong quarter for the Company, supported by excellent production results at Florida Canyon and material advancement at our development stage assets, DeLamar and Nevada North," said George Salamis, President, CEO and Director of Integra Resources Corp. "Excellent production results, combined with a strong gold price environment have allowed Integra to significantly increase its quarter-over-quarter cash balance to ~$81 million, marking the strongest financial position in the Company's history." The company advanced its resource growth drilling program at Florida Canyon and achieved key milestones at DeLamar, including a completeness determination by the United States Bureau of Land Management for the updated Mine Plan of Operations. Year-to-date Mine-site all-in sustaining costs of $2,542 per gold ounce remain within the guidance range of $2,450 to $2,550 per ounce. i-80 GOLD CORP. (NYSE-A: IAUX) (TSX: IAU) reported third quarter 2025 results showing revenue increased to $32.0 million compared to $11.5 million in the prior year period, driven by higher gold ounces sold at Granite Creek and an average realized gold price of $3,412 per ounce. The company sold 9,368 ounces of gold for the quarter, nearly double the 4,740 ounces sold in the prior year period, while gross profit improved to $3.1 million from a gross loss of $4.9 million due to improved water management initiatives. "I am pleased to report the third quarter marked another period of solid execution in advancing our multi-asset development strategy in Nevada," said Richard Young, President & CEO of i-80 Gold. "During the quarter, underground development advanced at Granite Creek, construction commenced at Archimedes underground, and technical studies and permitting advanced across the portfolio." The company received all required permits and commenced construction at Archimedes, its second planned underground mine, while completing approximately 53,000 feet of core drilling to support planned feasibility studies. i-80 Gold remains on track to meet 2025 production guidance of 30,000 to 40,000 ounces, with technical studies expected for Lone Tree autoclave refurbishment in Q4 2025 and feasibility studies for Granite Creek and Cove underground in Q1 2026. Orezone Gold Corporation (TSX: ORE) (OTCQX: ORZCF) completed first gold from its new 2.5Mtpa hard rock expansion at the Bomboré Gold Mine on December 15, 2025, with mill throughput averaging 78% of nameplate capacity during the first five days of operations. The stage 1 expansion was delivered on time and on budget over approximately 12 months of construction. "Commissioning of this plant is now complete, with mill throughput averaging 78% of nameplate capacity for the first 5 days of operations, resulting in first gold on December 15," said Patrick Downey, CEO of Orezone Gold Corporation. "Commercial production is expected to be declared in early Q1-2026, and will represent a major milestone for Orezone, with overall gold production at Bomboré set to increase by 45% to 170,000-185,000oz in 2026." The company is advancing stage 2 of the hard rock expansion, which is forecasted to increase annual production to between 220,000 and 250,000 ounces. Orezone enters 2026 with a solid balance sheet positioned to capitalize on record high gold prices during this significant cash flow inflection point. Article Source: https://usanewsgroup.com/goh-profile/ and https://usanewsgroup.com/2025/09/23/the-goldhaven-story-two-continents-one-strategy-systematic-historic-gold-district-exploration/ CONTACT: Baystreet.ca [email protected] (805) 649-0042 DISCLAIMER: 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 owned by Baystreet.ca Media Corp. (“BAY”). BAY has been paid a fee of for GoldHaven Resources Corp. advertising and digital media for this article. There may be 3rd parties who may have shares of GoldHaven Resources Corp., 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. The owner/operator of “BAY” reserve the right to buy and sell, and will buy and sell shares of GoldHaven Resources Corp. 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, including this article, which is disseminated by BAY has been approved by GoldHaven Resources Corp. Technical information relating to GoldHaven Resources Corp. has been reviewed and approved by Jonathan Victor Hill, B.Sc. Hons, FAusIMM, a Qualified Person consistent with NI 43-101 and Country Manager of GoldHaven, and therefore is not independent of the Company; 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 the 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. SOURCES CITED: 1. https://www.gold.org/goldhub/research/gold-outlook-2026 2. https://www.vaneck.com/us/en/blogs/gold-investing/gold-in-2025-a-new-era-of-structural-strength-and-enduring-appeal/ 3. https://www.kitco.com/news/article/2025-12-11/goldman-sachs-sees-significant-upside-its-2026-gold-price-target-4900oz 4. https://www.gold.org/goldhub/research/gold-demand-trends/gold-demand-trends-q3-2025