EDM Resources (EDMFF) advanced Scotia Mine technical studies and exploration during the third quarter of 2026 while regulatory review continued. The Fisheries Act Authorization application remains under review, with decision timing subject to Fisheries and Oceans Canada's review and consultation requirements.
EDM engaged SRK Consulting (Canada) and Micon International for an updated Pre-Feasibility Study, targeting completion in the first quarter of 2027, subject to required technical work. Ore-sorting tests showed potential to reject approximately 25% of original feed mass while retaining a substantial majority of contained zinc and lead. Warrant and option exercises generated approximately $263,747 in gross proceeds. At September 30, 2026, 81,858,649 shares were outstanding. Gold exploration and resource-estimate work continued, alongside discussions with potential financing and concentrate offtake partners.
EDM Resources (EDMFF) appointed mining finance executive David Ball to its board as it advances preparations for Scotia Mine development. Ball has approximately 20 years of mining industry experience, including involvement in more than $1.5 billion of financing transactions, and currently serves as Cerrado Gold's Vice President of Corporate Development.
Manish Grigo resigned from the board but remains Vice President of Corporate Development. Justin Barragan was appointed chairman. EDM is advancing permitting and an updated Pre-Feasibility Study, which assesses project development plans and economics, ahead of future financing and development.
The board approved 250,000 stock options for Ball at C$0.70 per share for five years, subject to TSX Venture Exchange acceptance. It also approved 100,000 restricted share units for an employee, vesting upon specified corporate milestones.
EDM Resources (EDMFF) reported Scotia Mine ore-sorting testwork that rejected 25.2% of the original feed mass. Including fines, the retained material graded 19.7% zinc and 18.2% lead, with recoveries of 94.3% and 95.6%, respectively. Its zinc and lead grades were 26.1% and 27.9% higher than the ore sorter feed.
Compared with earlier dense media separation (DMS) tests, ore sorting retained more zinc but less lead, with similar mass rejection. Preliminary estimated capital costs were approximately $1.5 million for ore sorting and $3.5 million for DMS. The programs used different samples and operating conditions, so their results are not directly comparable. EDM plans to assess processing options in an updated Pre-Feasibility Study. The board also granted 1,500,000 stock options, subject to exchange approval, and 575,000 restricted stock units.
EDM Resources (EDMFF) reports that its 100%-owned Scotia Mine has been selected by Nova Scotia to be showcased at the Canada Investment Summit on September 14-15, 2026.
The zinc, lead and gypsum project will feature in the Nova Scotia Digital Deal Book and related investor networking events as EDM seeks financing, offtake and strategic partnerships for a planned restart. The company highlights Scotia Mine as an advanced brownfield critical minerals asset with substantial existing infrastructure, a relatively low estimated restart capital cost of about C$31 million, and good access to power, roads and the Port of Halifax.
EDM’s Summit investment profile draws on historical figures from its NI 43-101 Preliminary Feasibility Study dated December 30, 2021, including a reported after-tax IRR of 69%, a 14-year mine life, and approximately 150 expected direct jobs, plus reported Proven and Probable reserves of 13.66 million tonnes of base metals and 5.18 million tonnes of gypsum. The company is preparing an updated Mineral Resource Estimate and new PFS, and states that future results may differ materially from the 2021 PFS.
EDM Resources (TSXV: EDM, OTCQB: EDMFF) reported the results of its Annual General Meeting of Shareholders held on August 21, 2026. A total of 31,563,292 common shares, representing approximately 39.27% of issued and outstanding shares, were represented in person or by proxy.
Shareholders set the number of directors at five and elected Mark Haywood, Eugene Chen, Justin Barragan, Manish Grigo and Mark Van Remortel as directors, to serve until the next annual meeting or until successors are chosen. According to EDM, Clearhouse LLP was re-appointed as auditor for the ensuing year, with directors authorized to fix its remuneration. Shareholders also re-approved the company’s Stock Option Plan and Restricted Stock Unit Incentive Plan. EDM noted that the newly constituted board will work with management as the company advances the Scotia Mine toward a planned restart.
EDM Resources (OTCQB: EDMFF) announced that its common shares are now eligible for electronic clearing and settlement in the United States through The Depository Trust Company (DTC). This follows the company’s recent OTCQB Venture Market listing under the ticker EDMFF and is intended to make trading easier for U.S. investors.
According to EDM, DTC eligibility is expected to simplify trading, potentially enhance liquidity, and broaden access across more U.S. brokerage firms. EDM continues to advance permitting, exploration and technical studies at its 100%-owned Scotia Mine near Halifax, Nova Scotia.
EDM Resources (OTCQB: EDMFF) announced that the Nova Scotia Department of Environment and Climate Change has issued an amended Industrial Approval for the Scotia Mine, approving the updated mine plan and processing facility for a planned 2027 restart, subject to Fisheries Act Authorization and other conditions.
The amended approval covers a redesigned mine layout, updated processing infrastructure, and enhanced waste rock, tailings and environmental protection systems, supporting the company’s ongoing updated Pre-Feasibility Study. The Scotia Mine is expected to become Nova Scotia’s only primary zinc producer and create about 150 direct jobs during operations, aligning with the province’s Critical Minerals Strategy.
EDM is also advancing an updated mineral resource estimate, project financing and permitting, and has signed a digital investor relations agreement with SWH Digital for up to six months at a total potential cost of US$115,000, to expand investor communications and marketing.
EDM Resources (OTCQB: EDMFF) reported Q2 2026 progress advancing the Scotia Mine toward a production decision. Key updates include Environmental Assessment operational approval for the South West expansion, FAA review moving into First Nations engagement, and expectation of an FAA decision in summer or fall 2026.
Market capitalization rose from $5.9M to $47.2M year-to-date. Warrant and option exercises generated $1.55M, with 80M shares outstanding and remaining warrants representing potential proceeds of about $3.2M. EDM began OTCQB trading, extended its gypsum offtake start to December 31, 2027, and advanced exploration, MRE and PFS work.
EDM Resources (OTCQB: EDMFF) reported that directors, insiders and major shareholders exercised common share purchase warrants, generating approximately $1.5 million in gross proceeds at an exercise price of $0.14 per share.
According to EDM, the funds will support advancing the Scotia Mine, permitting, an updated Pre-Feasibility Study, gold exploration and working capital.
The company still has about 22.6 million warrants outstanding at $0.14, representing potential additional proceeds of roughly $3.2 million if fully exercised.
EDM Resources (OTCQB: EDMFF) began trading on the OTCQB Venture Market in the U.S. on June 2, 2026. The company aims to advance the Scotia Mine toward production while broadening access to U.S. investors.
According to EDM, the listing is expected to enhance liquidity, increase U.S. market visibility, support cross-border trading alongside its TSXV and Frankfurt listings, and strengthen its capital markets platform. EDM shares are expected to become DTC eligible within the month, which should facilitate more efficient electronic clearing and settlement for U.S. investors.