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Original-Research: Antimony Resources Corp. - from GBC AG

25.02.2026 / 10:00 CET/CEST
Dissemination of a Research, transmitted by EQS News - a service of EQS
Group.
The issuer is solely responsible for the content of this research. The
result of this research does not constitute investment advice or an
invitation to conclude certain stock exchange transactions.

Classification of GBC AG to Antimony Resources Corp.

Company Name: Antimony Resources Corp.
ISIN: CA0369271014

Reason for the research: Management Interview
Last rating change:
Analyst: Cosmin Filker

"The planned exploration program is fully funded"

Following the acquisition of the Bald Hill project, Antimony Resources
conducted extensive drilling programs in 2025, significantly expanding its
knowledge of the potential antimony deposits. Antimony is a semi-metal that
plays a key role in many applications. Due to its high dependence on China,
it is classified as a critical mineral in both the US and Europe. We spoke
with Antimony Resources CEO Jim Atkinson about the company's latest
developments and prospects.

GBC AG: In January 2025, Antimony Resources acquired a 100% interest in the
Bald Hill project under an option agreement. Historical exploration has
identified potential antimony deposits on this property. What is antimony
and what are its uses?

Jim Atkinson: Actually, we entered into an Option Agreement to earn a 100%
interest in the Bald Hill Property. Since then, we have added 100% owned
property to the west, south and east of the original property.

Antimony is one of the least known but most important critical metals. On
some lists of critical minerals it is listed number two in priority. The
uses are mainly for military applications such as munitions, and specialty
electronics such as night vision goggles. It is also very important as a
flame retardant in children's clothing and furniture as well as automotive
upholstery.

There is no commercial production of antimony in North America and limited
production in Europe outside Russia.

GBC AG: Until now, antimony has been produced and marketed mainly by China
and Russia. What role does this high concentration play, especially given
the strategic importance of antimony?

Jim Atkinson: China produced over 75% of the worldwide supply of antimony
but in December 2024 China banned all exports of antimony. The other large
producer - Russia - is under sanctions. This makes antimony a very important
geopolitical critical metal. The reduction in supply caused by China's
actions has resulted in a spike in the price of antimony - reaching $60,000
per metric tonne on metals exchanges.

GBC AG: Accordingly, the US, Canada, and Europe should strive to boost
domestic antimony mining and production. Are there any efforts in this
direction?

Jim Atkinson: In the US the government is supporting potential antimony
projects in the US with grants and loan guarantees, while in Canada and
Europe strategic metal alliances and consortia are being formed. Antimony
Resources is very aligned with government agencies to promote the
development of antimony re-sources in this country. Bald Hill would be a
major player in North American production.

GBC AG: Let's talk about the Bald Hill project. As mentioned at the
beginning, potential antimony deposits were identified here in the past. You
carried out a drilling program yourself in 2025. What are the results?

Jim Atkinson: The result of our drilling in 2025, which amounted to over
5,000 meters, was to expand the antimony deposit and provide data for a
potential Resource Estimate. This information was used in the preparation of
a NI 43-101 Tech-nical Rpeort which estimated the potential of the Bald Hill
Project at approximately 2.7 million tonnes at a grade of between 3% and 4%.

We have expanded our program with an additional 10,000 meters of definition
drilling in the Main Zone. This is thought to be sufficiently detailed to
calculate a Maiden Resource for the Bald Hill Project.

GBC AG: You recently reported on a possible expansion of the Bald Hill
project. In addition to the main zone, you have identified antimony-bearing
stibnite in two other zones during prospecting. What does this mean for the
project?

Jim Atkinson: We believe that we have now confirmed a much larger
mineralizing system at Bald Hill with the identification of three additional
zones of antimony mineralization. The new zones are along strike and
parallel to the Main Zone, which is the target of our 10,000 meter
definition drilling program currently underway. These zones will be the
targets of further drilling and have the potential to expand the possible
resource with additional mineralization. We have identified mineralization
in two of the new zones through trenching. They are at least 150 meters and
100 meters, respectively. We will be completing trenching on the third in
the next few days.

GBC AG: What drilling programs are planned for the current year in order to
potentially achieve maiden resource status? What is the schedule for this?

Jim Atkinson: A 10,000-meter definition drilling program is currently
underway. So far, approximately 4,000 meters of drilling have been
completed. The drilling should be completed by April. The maiden resource
will follow once all assays are received, likely in early June.

GBC AG: In December 2025, Antimony Resources secured approximately CAD 9.5
million as part of the first tranche of a financing round. How do you assess
the current financial situation, particularly in light of the further
exploration planned?

Jim Atkinson: The planned exploration program is fully funded, with over $7
million in the bank. There are sufficient funds to complete the additional
resource estimation programs, mining permit application and technical gap
analysis.

GBC AG: Mr. Atkinson, thank you very much for talking to us.

You can download the research here:
https://eqs-cockpit.com/c/fncls.ssp?u=760086b2f347cddffd58daeaf63aaf0a

Contact for questions:
GBC AG
Halderstraße 27
86150 Augsburg
0821 / 241133 0
research@gbc-ag.de
++++++++++++++++
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+++++++++++++++
Fertigstellungsdatum: 24.02.2026 (2:53 pm)
Datum der ersten Weitergabe: 25.02.2026 (10:00 am)

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