Northwire Canada EditionSunday, October 25, 2026
Northwire
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Gold 4,007.90 −1.3% Silver 53.95 −1.9% Copper 6.51 +1.7% Oil 103.27 +3.8% Palladium 1,051.50 −0.5% ALGR 0.600 +1.7% IFOS 2.01 −1.0% SGML 10.71 +2.4% AGI 41.99 −1.0% GFG 0.175 +9.4% NIM 0.560 −1.8% AFM 1.28 −8.6% TI 2.69 +0.4% FEO 0.630 +3.3% MSA 8.51 +0.6% SSV 0.395 +1.9% CGD 1.30 +0.0% EQTY 0.085 +0.0% SXL 0.060 +0.0% MOG 0.445 −1.1% FCI 0.510 −7.3% Gold 4,007.90 −1.3% Silver 53.95 −1.9% Copper 6.51 +1.7% Oil 103.27 +3.8% Palladium 1,051.50 −0.5% ALGR 0.600 +1.7% IFOS 2.01 −1.0% SGML 10.71 +2.4% AGI 41.99 −1.0% GFG 0.175 +9.4% NIM 0.560 −1.8% AFM 1.28 −8.6% TI 2.69 +0.4% FEO 0.630 +3.3% MSA 8.51 +0.6% SSV 0.395 +1.9% CGD 1.30 +0.0% EQTY 0.085 +0.0% SXL 0.060 +0.0% MOG 0.445 −1.1% FCI 0.510 −7.3%
Financings Routine +

Millennium Silver Receives Final Acceptance of Private Placement, Advances BLM Permitting and Water Infrastructure Plans; Sets Stage for 2026 Resource Expansion Drilling at Silver Peak

Millennium Silver Secures Funding for Nevada Drilling, But Relies on Seven-Year-Old Resource Data

Executive Summary

Recent Financing and Permitting Update

  • Financing Closure: The company received final acceptance of a private placement announced in January 2026, closing with gross proceeds of $2,888,905.
  • Unit Structure: Issued 192,593,667 units at $0.015 per unit, each containing one common share and one non-transferable warrant.
  • Warrant Terms: Warrants are exercisable at $0.05 for the first three years (until March 2029) and $0.10 thereafter until May 2031.
  • Operational Progress: The company has commenced the Bureau of Land Management (BLM) exploration permit application process for its Silver Peak project in Nevada.
  • Infrastructure: Soliciting proposals for water-supply well drilling to support field infrastructure.
  • Drilling Plan: Aims to expand the existing Inferred Mineral Resource at the Nivloc Structure, which currently covers less than 20% of the 2,500-metre mapped strike length.
Material Impact

Capital Raise Impact

  • The financing was effectively priced in upon the March closing announcement, evidenced by a temporary price spike to $0.03 followed by consolidation at $0.02.
  • The May 4 news confirms administrative closure (TSX-V acceptance) rather than new capital inflow, making it incremental rather than transformative.
  • Proceeds are allocated to exploration and working capital, which was the stated use of funds in previous announcements; no deviation from expectations.
MSC · Price
Company Overview

Project Details

  • Flagship Asset: Silver Peak Project located in Nevada, USA.
  • Structure: Nivloc Structure is the primary target for resource expansion.
  • Resource Estimate (2019): 2,653,000 tonnes grading 96.85 g/t silver and 0.67 g/t gold.
  • Contained Metal: Approximately 8,262,000 oz Ag and 57,000 oz Au (12.8 Moz silver-equivalent).
  • Coverage: Current resource covers less than 20% of the 2,500-metre mapped strike length.
Read the original news release →

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