Bighorn Metals Engages Independent Trading Group as Market Maker on Canadian Securities Exchange

Details of Market-Making Agreement and Structure

Bighorn Metals disclosed that it has engaged Independent Trading Group to provide market-making services under Canadian Securities Exchange regulations. The contract is initially set for one month at a fee of $5,500, with provisions allowing either party to end the agreement with 30 days’ written notice. Absent termination, the agreement renews automatically on a monthly basis.

The disclosed agreement does not include performance benchmarks or penalties tied to liquidity or trading volume. ITG will not receive equity, share grants, or options as part of the contract. Both parties confirmed they are independent entities with no affiliation, and that ITG and its principals held no direct or indirect interest in HRNY shares at the time of signing.

Independent Trading Group’s Expertise and Services

Established in 1992, Independent Trading Group Inc. is a Toronto-based CIRO dealer-member with 34 years of experience. ITG specializes in market making, liquidity provision, agency execution, low-latency connectivity, and proprietary algorithmic trading solutions. The firm serves public issuers and institutional clients across Canadian capital markets.

ITG leverages proprietary technology and market structure expertise to deliver high-quality liquidity services, focusing on junior and mid-cap public companies on Canadian exchanges. By partnering with ITG, Bighorn Metals accesses robust infrastructure and market relationships aimed at improving trading conditions for its shares.

Bighorn Metals’ Loljuh Property and Strategic Outlook

Bighorn Metals holds an option to acquire the Loljuh Property, a consolidated 1,656.73-hectare exploration claim in the Omineca Mining Division of central British Columbia. Located 40 kilometres south of Smithers and 32 kilometres west of Houston, the property lies within a historically mineral-rich region. Geological assessments indicate potential for porphyry copper-gold mineralization, a deposit type known for large-scale, long-life mining operations.

In 2019, geochemical soil surveys identified multiple zones with anomalous gold and copper values using systematic sampling on 400-metre spaced lines and 200-metre intervals. Rock sampling confirmed anomalous copper and gold in several plateau locations, while aeromagnetic surveys highlighted hydrothermal alteration zones consistent with porphyry systems.

Recent Exploration and Ground Program

Bighorn Metals recently completed an extensive ground exploration program on the Loljuh Property to refine drill targets and evaluate mineralization continuity. The program included detailed mapping, prospecting, and systematic sampling across multiple zones, utilizing graded grid systems tailored to geological interest areas.

The methodology involved a 50-by-50-metre grid over the plateau for regional context, a 25-by-50-metre grid over the Loljuh area for focused assessment, and a 25-by-25-metre grid on the Bornite Zone for high-resolution sampling. This multi-scale approach enabled comprehensive characterization of mineral potential across spatial and geological settings.

Liquidity Goals and Trading Venue Coverage

Under the market-making agreement, ITG will trade HRNY shares primarily on the Canadian Securities Exchange, while also engaging other Canadian trading platforms. The goal is to maintain reasonable market conditions through consistent bid-ask spreads and trading availability, facilitating participation from institutional and retail investors. Enhanced liquidity can lower transaction costs for shareholders and support future capital raises.

Market-making addresses a common challenge for junior explorers: sustaining sufficient trading activity to allow shareholders to transact shares fairly without wide bid-ask spreads. By appointing a professional market maker, Bighorn Metals aims to stabilize trading conditions that reflect the Company’s intrinsic value and attract a wider investor base interested in British Columbia copper-gold exploration.

Regulatory Compliance and CSE Oversight

The market-making engagement complies with Canadian Securities Exchange policies and regulatory frameworks governing CIRO dealer-members like ITG. These include capital adequacy, market conduct, and reporting standards designed to uphold market integrity and investor protection. CSE oversight ensures transparency and prevents conflicts of interest or manipulative trading.

Disclosure confirming that ITG and Bighorn Metals are unrelated, with no prior shareholding by ITG principals, meets regulatory requirements to avoid self-interested trading or arrangements disadvantaging public shareholders. This independence ensures ITG’s market-making activities provide genuine liquidity rather than promotional interests.

Forward-Looking Statements and Associated Risks

The Company notes that the market-making arrangement and expected liquidity improvements are forward-looking statements subject to risks and uncertainties. The arrangement may not achieve its goals due to factors beyond the market maker’s control, such as investor interest, market conditions, and commodity price fluctuations.

Additional risks include potential termination of the agreement with 30 days’ notice, economic and market factors impacting junior exploration stocks, and other risks detailed in the Company’s continuous disclosure filings on SEDAR+ at www.sedarplus.ca. The Company does not commit to updating forward-looking statements except as required by law. Investors are advised not to place undue reliance on these statements as actual outcomes may differ materially.

Investor Considerations and Market Impact

Investors following Bighorn Metals may view the appointment of a professional market maker as a positive development enhancing trading infrastructure and shareholder liquidity. This move reflects management’s dedication to best practices and shareholder service. However, market-making does not guarantee share price gains or trading volume, nor does it mitigate fundamental risks inherent in junior mineral exploration, such as exploration uncertainty, commodity volatility, and permitting challenges.

The British Columbia exploration sector remains influenced by metal price cycles, permitting timelines, and exploration success rates, all of which carry inherent uncertainty. Investors should independently assess Bighorn Metals’ exploration results, geology, and financial health, recognizing that market-making improves liquidity infrastructure but does not affect the underlying investment merits. The Loljuh Property’s copper-gold prospectivity requires further drilling and geological validation.