Final Approval Clears the Way for Full-Scale Uranium Push in Paraguay

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1. Disclosure for the quote from the John Newell article published on December 23, 2025

1. For the quoted article (published on December 23, 2025), the Company has paid Street Smart, an affiliate of Streetwise Reports, US$3,000.
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.

Vanguard Mining Corp. (UUU:CSE; UUUFF:OTC; SL51:FWB) announced that it has secured its final set of Environmental Licences from Paraguay's Ministerio del Ambiente y Desarrollo Sostenible (MADES), completing the licensing process for its 90,000-hectare Yuty Prometeo–San Jose Uranium Project in southeastern Paraguay.

The company reported that the Environmental Licences now cover the entire land position at Yuty Prometeo–San Jose, with no additional environmental approvals required. Concurrently, Vanguard has submitted an application for a Prospection Permit with Paraguay's Vice Ministry of Mining and Energy (VMME), which is described as a critical step toward full-scale uranium exploration authorization.

This development coincides with Paraguay's growing profile in the global critical minerals sector, highlighted by its participation alongside the United States in a high-level ministerial summit in Washington, D.C., hosted by the U.S. Department of State. The meeting on February 4 addressed cooperation on uranium, lithium, and rare earth element supply chains. Paraguay's Deputy Minister of Mines and Energy, Mauricio Bejarano, cited rising global demand as a factor drawing international attention to the country.

David Greenway, Chief Executive Officer of Vanguard Mining, stated in a company news release, "The receipt of our final MADES Environmental Licences marks a significant permitting milestone and further advances the Yuty Prometeo–San Jose Uranium Project toward prospection authorization."

According to the company, the project area spans four concessions — three San Jose and one Prometeo — within the Paraná Basin. The Prometeo Concession covers approximately 27,666 hectares and is adjacent to Uranium Energy Corp.'s (UEC) Yuty Project. Historical data referenced in the news release described uranium-bearing mineralization identified in seven of 27 drill holes completed on the Prometeo property, including one hole reporting values between 0.05% and 0.10% U₃O₈ across 107 meters. The San Jose concessions cover an additional 62,210 hectares. A radiometric car survey conducted over this area identified significant uranium anomalies.

Vanguard noted that all drill results are historical in nature and have not been independently verified. The company intends to complete confirmatory drilling to validate this information in accordance with NI 43-101.

Uranium Market Sees Rising Production and Tightening Supply

According to a February 2 report from Mining.com, uranium production forecasts increased as Kazatomprom projected 71.5 to 75.4 million pounds of U₃O₈ output, marking a 9% rise over the previous year. The company attributed the increase to ramp-up activities at its Budenovskoye joint venture in southern Kazakhstan. Analyst Alexander Pearce of BMO Capital Markets noted the projection was 6% higher than BMO's internal estimates and commented that "the update could see some modest pressure on uranium prices via a slightly reduced supply deficit near-term."

In a February 4 article published by Mining.com, Blair McBride reported that the Sprott Physical Uranium Trust purchased 250,000 pounds of uranium oxide, bringing its first-quarter total to 3.65 million pounds. That purchase contributed to a total inventory of 78.4 million pounds and marked Sprott's second-highest quarterly acquisition in four years. The report noted that the uranium spot price fell from US$101.55 per pound to US$91.80 per pound during the same week.

Materials from Sprott.com released in February outlined broader sector dynamics. The firm stated there were 436 operational nuclear reactors globally, with 190 additional units either planned or under construction, based on data from the World Nuclear Association as of January 13. Sprott wrote that "global uranium production in 2024 covered less than 80% of reactor demand," with the shortfall offset by inventory drawdowns and spot market activity. It also noted that uranium inventories at nuclear power plants had reached "strategic lows," creating what the firm described as significant pent-up demand from utilities.

Sprott further explained that even if all existing and planned uranium mines operated at peak levels, they were not expected to meet projected reactor demand through 2045. The firm stated that this shortfall could reach 1.4 billion pounds under current scenarios and up to 3 billion pounds if global nuclear capacity were to triple. The report also highlighted that uranium and uranium miners had outperformed other major asset classes over the prior five-year period, based on internal performance tracking.

"Key Property of Interest": Analyst Flags Vanguard's Uranium Project as Standout Asset

¹In a December 23 technical commentary, John Newell of John Newell & Associates referred to Vanguard Mining Corp. as a situation where "the fundamentals, the asset base, and the technical picture are beginning to align." He noted that the company held a diversified portfolio of uranium, copper, and gold assets across the Americas, with core uranium concessions in Paraguay's Paraná Basin and base metals projects in British Columbia. He described the Yuty Prometeo Uranium Project as the company's "key property of interest" and stated it had "the greatest potential to move Vanguard's shares."

Newell highlighted that the Prometeo Uno concession had returned uranium grades ranging from 0.05% to 0.10% U₃O₈ from 28 historical drill holes. He added that geophysical surveys and sampling suggested the property "aligns with the same regional trend" as known mineralization in the area. He called the setting "compelling" and pointed to upcoming confirmatory drilling as a "clear near-term catalyst that could materially de-risk the project."

Regarding the company's British Columbia assets, Newell stated that the Redonda Copper-Molybdenum Project and Brussels Creek Gold-Copper-Palladium Project were "prospective for porphyry-style systems." He also noted that Vanguard held "an early-stage lithium brine project in Argentina" for exposure to the battery metals sector.

Newell acknowledged the company's oversubscribed August 2025 financing and stated that Vanguard appeared "funded for upcoming exploration programs and reducing near-term financing risk." He described the capital structure as "reasonable for a company at this stage and offers leverage to exploration success."

From a technical perspective, he wrote that the stock's chart showed "a long base forming after the sharp decline seen through late 2023 and early 2024," along with a "progressive series of higher lows, accompanied by improving volume, suggesting accumulation rather than distribution." He identified several upside targets, including CA$0.32 (met), CA$0.50, CA$0.90, and a broader long-term target of CA$1.50.

Newell concluded, "With a tight share structure, experienced management, exposure to uranium and copper in proven jurisdictions, and a constructive technical setup, Vanguard Mining checks several boxes for speculative investors." He assigned the company a "Speculative Buy rating."

Upcoming Work and Regulatory Milestones

Vanguard Mining outlined several near-term programs and policy developments related to its uranium and copper-gold exploration assets in its investor presentation. In Paraguay, the company plans to conduct a confirmatory drill program. The objective of this program is to validate historical results and potentially align the concession with the adjacent uranium trend associated with UEC's Yuty project. Vanguard noted that successful assays would support a maiden resource estimate pathway.

In British Columbia, the company has scheduled trenching and drilling at its Brussels Creek Project. These efforts are aimed at testing priority gold-copper targets identified through historical exploration. The company highlighted that the project's proximity to infrastructure such as highways, power, and services may reduce exploration and development risk.

Additionally, the company's August 2025 financing, which raised CA$2.32 million, was described in the investor presentation as providing funding for uranium exploration in Paraguay and gold-copper work in British Columbia.

Market and policy catalysts identified in the company's investor materials included increasing uranium spot prices, an expanding global fleet of nuclear reactors, and support from U.S. initiatives such as Section 232 tariffs on critical minerals. The company also pointed to rising electricity demand from artificial intelligence and data centers as a relevant factor supporting interest in nuclear energy.

Ownership and Share Structure²

3.95% of Vanguard Mining is owned by management and insiders.

The rest is retail.

Vanguard Mining Corp. has 76,306,621 shares outstanding and an estimated market capitalization of approximately US$12.36 million, based on recent trading prices. Shares trade in a 52-week range between US$0.06 and US$0.49.