Original-Research: Antimony Resources Corp. (von GBC AG):

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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.

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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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Offenlegung möglicher Interessenskonflikte nach § 85 WpHG und Art. 20 MAR

Beim oben analysierten Unternehmen ist folgender möglicher

Interessenkonflikt gegeben: (5a,11); Einen Katalog möglicher

Interessenkonflikte finden Sie unter:

https://www.gbc-ag.de/de/Offenlegung.htm

+++++++++++++++

Fertigstellungsdatum: 24.02.2026 (2:53 pm)

Datum der ersten Weitergabe: 25.02.2026 (10:00 am)

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2280878 25.02.2026 CET/CEST

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