Prosper Gold Closes Sale of Golden Sidewalk Project to Kenorland

Prosper Gold Corp. (PGX) completed the sale of its Golden Sidewalk and Skinner properties to Kenorland Exploration Ltd. on September 1, 2026. The transaction had previously received conditional approval from the TSX Venture Exchange and was approved by disinterested shareholders on August 20, 2026. This closing follows the initial definitive purchase agreement announced on June 18, 2026.

Kenorland paid C$1,000,000 in cash to Prosper Gold at arm's length, with no finders' fees. The Golden Sidewalk project covers over 160 square kilometres in the western Birch-Uchi Greenstone Belt, approximately 60 km east of Red Lake, Ontario. No significant exploration activities were completed by Prosper Gold at Golden Sidewalk for the period ended January 31, 2026.

Prosper Gold Corp. (PGX) has closed on a previously announced asset sale, a transaction that resolves a critical liquidity crisis for the mining company. Prior to the closing, the company held just $37,599 in cash against $229,373 in current liabilities, resulting in a working capital deficit of $146,455 and triggering a going concern flag. The $1,000,000 cash injection from the sale immediately eliminates this deficit, raising cash reserves to approximately $1,037,599 and removing the immediate threat of insolvency.

While the transaction provides essential survival capital, it does not represent a fundamental shift in the company’s exploration trajectory or revenue generation, as Prosper Gold remains in a pre-revenue, early-stage exploration phase. The market was already aware of the transaction following the June 18 announcement, limiting the surprise factor. The primary impact of the deal is the stabilization of the company’s balance sheet rather than transformative growth.

Prosper Gold Corp. (PGX) is an early-stage exploration company focused on porphyry copper-gold systems. Its flagship asset is the Cyprus Project in central British Columbia, which encompasses a 623 km² land position. The company recently sold its Ontario assets, specifically the Golden Sidewalk and Skinner properties, to focus capital on the Cyprus project.

Exploration activities include property-wide ZTEM geophysical surveys, IP surveys, and diamond drilling targeting alteration zones and porphyry centres. The historical district context includes the Bell & Granisle deposits, located 100 km south, and American Eagle Gold’s NAK Project, located 60 km south, both of which have shown significant copper-gold intersections.