FOKUS MINING COMPLETES TRANSACTION WITH VISIBLE GOLD MINES
TSX.V: FKM OTCQB: FKMCF Frankfurt: F7E1
(All amounts expressed in Canadian dollars unless otherwise stated)
ROUYN-NORANDA, QC, Sept. 4, 2025 /CNW/ - Fokus Mining Corporation ("Fokus" or the "Company") (TSXV: FKM) (OTCQB: FKMCF) (FSE: F7E1) is pleased to announce that it has successfully closed the transaction previously announced on August 12, 2025, with Visible Gold Mines Inc. ("Visible Gold") (TSXV: VGD) to acquire a 100% interest in six properties, namely the Cadillac Break, Lucky Break, Silidor, Stadacona-East, Wasa Creek, and Wasa East projects, and a 40% interest in one property, the Capricorn project, all located along the Cadillac-Larder Lake Fault near the town of Rouyn-Noranda in the province of Québec, Canada (collectively, the "Properties").
Transaction Terms
Pursuant to the asset purchase agreement dated August 11, 2025, Fokus has acquired the Properties for total consideration of approximately $3.0 million, consisting of:
- An amount of $750,000 paid in cash at closing;
- The issuance of 10,000,000 common shares of Fokus (the "Consideration Shares") valued at $1.5 million; and
- The payment of an additional amount of $750,000 in cash, which will be payable by no later than December 3, 2025, which is three months following the closing date.
Strategic Benefits
The Properties cover 6,473 hectares across 215 exclusive exploration rights (i.e. formerly called mining claims), tripling Fokus' land position from 3,086 hectares to 9,559 hectares along one of Canada's most prolific gold structures. Key benefits include:
- Immediate expansion potential surrounding Fokus' flagship Galloway Project which hosts an NI 43-101 inferred mineral resource estimate of 1.42 million ounces of gold (41.20 million tonnes grading 1.07 g/t Au) at a gold price of US$1,750 per ounce, as disclosed in the Company's March 23, 2023 press release, which also includes a sensitivity analysis showing that, at a gold price of US$1,960 per ounce, the inferred mineral resource increases to 1.79 million ounces of gold (57.55 million tonnes grading 0.97 g/t Au).
- Contiguous ground to Agnico Eagle's Wasamac Project (TSX: AEM, NYSE: AEM) which hosts a proven and probable mineral reserve of 1.38 million ounces of gold (14.8 million tonnes grading 2.9 g/t Au), as reported in the press release of Agnico Eagle Mines Ltd., February 13, 2025, "Agnico Eagle Provides an Update on 2024 Exploration Results and 2025 Exploration Plans" (available at www.agnicoeagle.com and on press release SEDAR+ profile at www.sedarplus.ca). Cautionary Note: Information on the Wasamac Gold Project is from public sources and the Qualified Person responsible for the review and approval of the technical information disclosed in this news release (see details below) has not to verify the information relating to this adjacent property. Consequently, such information is not necessarily indicative of mineralization on the property.
- Multiple drill-ready targets across underexplored properties with historical high-grade gold intersections, located proximal to the Cadillac-Larder Lake Fault. These include the Cadillac Break, Lucky Break, Wasa Creek, Wasa East, Silidor, and Stadacona-East properties (all 100% owned), as well as a 40% interest in the Capricorn property. Details on these properties were previously announced on August 12, 2025.
Fokus' expanded land package is strategically located within one of Canada's most productive gold belts, surrounded by major industry players within a 25‑kilometre radius of the Company's flagship Galloway Project (see Figure 1). Neighboring operations and projects include Agnico Eagle's Wasamac Gold Project (TSX: AEM, NYSE: AEM), Gold Candle's Kerr‑Addison Project, and Falco Resources' Horne 5 Project (TSXV: FPC), all situated along the Cadillac‑Larder Lake Fault. This premier location underscores the district‑scale potential of Fokus' consolidated portfolio.
Sources: NI 43-101 Technical Report and Mineral Resource Estimate for the Kerr-Addison and Geminid Properties, Ontario, available on the SEDAR+ profile of Gold Candle at www.sedarplus.ca – Indicated: 3.31 M oz Au (69.2 Mt @ 1.5 g/t Au); Inferred: 2.36 M oz Au (55.6 Mt @ 1.3 g/t Au). NI 43-101 Technical Report – Feasibility Study Update, Horne 5 Gold Project, available on the SEDAR+ profile of Falco Resources at www.sedarplus.ca – Measured: 786,000 oz AuEq (10.8 Mt @ 2.26 g/t AuEq); Indicated: 6.9 M oz AuEq (94.8 Mt @ 2.25 g/t AuEq); Inferred: 1.7 M oz AuEq (24.3 Mt @ 2.23 g/t AuEq), based on an NSR cut-off of $55/t. Cautionary Note: Information regarding the Gold Candle–Kerr Addison Project and the Falco Resources–Horne 5 Project is derived from public sources and the Qualified Person responsible for the review and approval of the technical information disclosed in this news release has not verified the information relating to this adjacent property. Consequently, such information is not necessarily indicative of mineralization on the Company's property. |
Royalty Transaction
In other news, the Company is also pleased to announce that the holders (the "Royalty Holders") of an initial 0.5% Net Smelter Return royalty (the "NSR") on 27 exclusive exploration rights (i.e. mining claims) comprising part of the Galloway Project, have advised the Company that they intent to exercise their option to increase the NSR by an additional 0.5% for a total consideration payable to the Company of US$750,000 (the "Additional NSR"), with the result of increasing such NSR to 1%. Such option was granted to the Royalty Holders pursuant to a royalty purchase agreement dated May 6, 2025 between the Company and the Royalty Holders (the "RPA"). Following the execution of the RPA, the Company used the proceeds of US$750,000 received thereunder for the grant of the initial NSR to exercise its right of first refusal on proposed sale by Vanstar Mining Resources Inc. (IAMGOLD Corporation's wholly-owned subsidiary) of an existing 0.5% net smelter return royalty on the Galloway Project, such royalty was cancelled following its repurchased by Fokus.
The closing of the exercise of the option for the Additional NSR is expected to occur in the next couple of days.
Qualified Person
Gilles Laverdière, P. Geo (OGQ #00161), registered in the Province of Québec, is a consultant to Fokus Mining Corporation, is a qualified person under National Instrument 43–101 – Standards of Disclosure for Mineral Projects. He has reviewed the technical contents of this news release and has approved the disclosure of the technical information contained herein.
About Fokus
Fokus Mining Corporation is a mineral resource company focused on acquiring and exploring precious metal deposits in Québec, Canada, particularly in the Abitibi region, 20 km west of Rouyn-Noranda, with its flagship Galloway Project. The 100%-owned Galloway Project covers an area of 3,086 hectares and is located just north of the Cadillac-Larder Lake Fault. The Galloway Project hosts a NI 43-101 inferred mineral resource of 1.42 million ounces of gold (41,195,000 tonnes grading 1.07 g/t Au) at a gold price of US$1,750 per ounce, as disclosed in the Company's March 23, 2023 press release. A sensitivity analysis shows that, at a gold price of US$1,960 per ounce, the inferred resource increases to 1.79 million ounces of gold (57,546,000 tonnes grading 0.97 g/t Au). Following the 2025 acquisition of properties from Visible Gold Mines, Fokus' land package now totals 9,559 hectares along the Cadillac-Larder Lake Fault. This includes the Cadillac Break, Lucky Break, Wasa Creek, Wasa East, Silidor, and Stadacona-East properties, all of which are 100% owned, as well as a 40% interest in the Capricorn property.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
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Caution regarding forward-looking statements
This news release contains statements that may constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding the future plans, costs, objectives or performance of the Company, or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including if the acquisition of the Properties will provide strategic benefits for the Company's shareholders, when such benefits will occur or what will be the actual benefits the Company will derive from the Properties, if the closing of the exercise of the option for the Additional NSR will occur and the timing of such closing, if any. Forward-looking information is based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. These risks, uncertainties and assumptions include, but are not limited to the risks, uncertainties and assumptions described under "Financial risk management objectives and policies" and "Risk and Uncertainties" in the Company's Annual Report for the fiscal year ended December 31, 2024, a copy of which is available on SEDAR+ at www.sedarplus.ca, and could cause actual events or results to differ materially from those projected in any forward-looking statements. The Company does not intend, nor does it undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.
SOURCE Fokus Mining Corporation
For further information: Philippe MacKay, P. Eng., MBA, President & CEO, Fokus Mining Corp., Tel.: (514) 974-4349, Email: [email protected]
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