Major US Copper-Nickel Resource Moves Toward Phase 1 Drilling as Work Advances

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1. Disclosure for the quote from the John Newell article published on December 26, 2025

1. For the quoted article (published on December 26, 2025), the Company has paid Street Smart, an affiliate of Streetwise Reports, between US$3,500.
2. Author Certification and Compensation: [John Newell of John Newell and Associates] was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Newell holds a Chartered Investment Management (CIM) designation (2015) and a  U.S. Portfolio Manager designation (2015). The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.

John Newell Disclaimer

As always it is important to note that investing in precious metals like silver carries risks, and market conditions can change violently with shock and awe tactics, that we have seen over the past 20 years. Before making any investment decisions, it's advisable consult with a financial advisor if needed. Also the practice of conducting thorough research and to consider your investment goals and risk tolerance.

2. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Green Bridge Metals Corp. (GRBM:CSE; GBMCF:OTC; J48:FWB) announced that it is advancing long-lead technical and operational work in preparation for a Phase 1 diamond drilling program planned for the second half of 2026 at its Serpentine Copper Nickel Project in St. Louis County, Minnesota. The project is described as a large open-pit style copper nickel sulphide system located in the Duluth Complex adjacent to NewRange Copper Nickel's NorthMet and Sunrise deposits.

The company reported that Serpentine hosts an inferred mineral resource estimate of 279.9 million tonnes at 0.37% copper, 0.12% nickel, and 0.007% cobalt, equivalent to 0.53% copper equivalent, along with an indicated resource of 21.6 million tonnes at 0.46% copper and 0.16% nickel, equivalent to 0.69% copper equivalent, as disclosed in a July 14, 2025 technical report.

According to the company, the Phase 1 program was designed to test the viability of the existing mineral resource estimate, examine the potential for indications of platinum group metals and cobalt, and position the company toward completing a preliminary economic assessment for Serpentine within the next 18 months.

The planned Phase 1 drilling program is expected to include approximately six to ten diamond core holes totaling about 2,000 to 2,500 meters. The company stated that it is currently working with the Minnesota Department of Natural Resources on permitting six new drill sites and is targeting one drilling rig for the program.

Down hole geophysical surveys are planned to improve confidence in structural interpretation and guide future exploratory drilling. The company also noted that one or more drill holes may be designed to support hydrogeological monitoring after core recovery, which it said would support baseline data collection for future permitting and engineering studies.

The company stated in the news release that the Phase 1 program is designed to "test viability of the existing MRE" and "test the overall copper equivalent grade by examining the potential for indications of Platinum Group Metals and cobalt."

Critical Minerals Markets Show Volatility Amid Shifting Supply and Demand Trends

According to a February 12 report from Credendo, copper prices had repeatedly reached record levels, exceeding US$13,000 per metric tonne, reflecting what it described as "a significant transformation in the fundamental attributes of copper as a commodity." The report stated that pricing had been influenced not only by industrial demand cycles but also by global energy transition initiatives and technological developments. It added that "copper is more and more seen as a safe haven and its value is increasingly correlated with gold and silver prices."

Credendo also noted that copper markets showed persistent volatility, with inventories rising as demand softened. It wrote that "high copper prices could reduce real consumption and add pressure as stockpiles build up," and stated that trading activity "seems to remain dominated by speculative positioning rather than any clear improvement in underlying fundamentals."

Reuters wrote on February 17 that global copper exchange inventories had surpassed 1.1 million metric tons for the first time since early 2003. The article stated that "global exchange inventory has surged by 300,000 tons since the start of January," adding that rising inventories and weaker demand had occurred alongside elevated prices. Reuters observed that "rising stocks and loosening spread structures don't sit well with an outright price that is within touching distance" of recent record highs.

The Reuters analysis also stated that investors had continued to buy copper both as an energy transition metal and as a financial hedge. It wrote that "Chinese and Western investors alike have been buying up copper both as a bet on the metal's bright energy transition demand narrative and as a hedge in the broader dollar debasement meme," while noting that assumptions of future shortages had not yet materialized.

Nickel markets showed a different set of dynamics. Credendo reported that nickel prices had risen sharply in early January after Indonesia reduced its 2026 ore production quota to 250 to 260 million metric tonnes from 379 million tonnes in 2025. It wrote that this change "triggered a strong speculative reaction, with nickel prices rising by roughly 30% month over month," though prices later eased due to softer demand and rising inventories.

Supply chain developments also affected the nickel sector. An AP report dated February 18 stated that Indonesia's share of global nickel supply had reached about 60% in 2024, up from 31.5% in 2020. The report noted that Indonesia had tightened control over mining activity and seized more than 4 million hectares of mining and processing sites as part of regulatory enforcement actions.

Analysts cited in the AP report highlighted ongoing uncertainties tied to policy changes and market shifts. Putra Adhiguna of the Energy Shift Institute stated that "the forests have been exploited to the brim," while Bhima Yudhistira of the Center of Economic and Law Studies said, "This is making the future of nickel, both mining and downstream processing, unknown."

The AP report also noted evolving demand patterns in battery technology, stating that electric vehicle manufacturers had increasingly shifted toward lithium iron phosphate batteries, which used less nickel and cobalt. It reported that these batteries were "used in nearly half of all EVs," according to International Energy Agency findings cited in the article.

Analysis Highlighted Project Focus and Regional Context

In a January 2 contributed opinion, Michael Ballanger of GGM Advisory Inc. discussed Green Bridge Metals Corp. after adding the company to his portfolio. Ballanger wrote, "I added Green Bridge Metals Corp. to the portfolio in late 2025 after meeting CEO David Suda via a ZOOM call during which time he walked me through his Serpentine Project located in the Duluth Mining District in northeastern Minnesota." He stated that the district "contains an absolute wealth of exploration and development projects" and described it as "one of the most highly prospective regions on the planet."

Ballanger also discussed the company's titanium exposure at the South Contact Zone and cited a white paper describing titanium as "a critical mineral by the U.S. Geological Survey (USGS) due to its essential role in economic and national security." He wrote that drill programs at the South Contact Zone were scheduled to begin later in the month, with drilling at Serpentine to follow. Ballanger stated a 2026 target price of CA$0.75 and US$0.55.

¹In a February 4 contributed technical analyst report, John Newell of John Newell & Associates provided commentary on Green Bridge Metals Corp. in the context of U.S. critical minerals policy. Newell wrote that the company was "building a North American portfolio around copper, nickel, titanium, vanadium, and associated metals" and stated that its approach focused on advancing projects with existing infrastructure and meaningful historic work rather than early-stage exploration. He wrote that Green Bridge's position in Minnesota was "designed for exactly this kind of moment" as domestic critical minerals policy became more supportive. Discussing the TITAC Project, Newell wrote that the company had "now commenced diamond core drilling at the TITAC Project in Minnesota, targeting copper mineralization associated with the same intrusive package that already hosts a titanium dioxide resource." He stated that the Phase 1 program consisted of "six diamond drill holes, roughly 1,800 metres total." In his conclusion, Newell wrote that Green Bridge Metals "remains a Speculative Buy" and identified a next resistance target near CA$0.40.

Details Outlined for Phase 1 Drilling Program and Technical Workstreams

Green Bridge Metals reported that Phase 1 drilling at the Serpentine project is planned for the second half of 2026 and is expected to include approximately six to ten diamond core holes totaling about 2,000 to 2,500 meters. Planned drilling depths are expected to be generally consistent with historical drilling, ranging from approximately 90 meters to more than 305 meters.

The company stated it is currently working with the Minnesota Department of Natural Resources to obtain permits for six new drill sites associated with the program. It also reported that logistics and planning activities are advanced and that it is targeting one drilling rig for the Phase 1 work.

Downhole geophysical surveys are planned as part of the program to improve confidence in structural interpretation, direct future exploratory drilling, and reduce uncertainty in drill targeting. The company also stated that full multi-element assaying will be conducted to improve copper equivalent and net smelter return reporting.

Green Bridge Metals reported that one or more drill holes may be designed for dual-purpose use to support hydrogeological monitoring following core recovery. The company stated that this approach is intended to support baseline data collection for future permitting and engineering studies. 

The company also reported that systematic multi-element assaying and metallurgy planning will be conducted to evaluate the potential inclusion of platinum group metals and cobalt in future copper equivalent calculations, noting that these elements are not included in the current mineral resource estimate.

Ownership and Share Structure²

Encampment Minerals, a strategic partner and asset vendor, holds approximately 10% of Green Bridge. Four institutional investors collectively own 15% of the float. Management and insiders own a total of 1.14%, including CEO David Suda, who holds 2 million shares.

Green Bridge Metals has 196,758,632 shares outstanding and a market capitalization of CA$30 million. The company has a 52-week trading range of CA$0.08-CA$0.26.