Northwire Canada EditionMonday, November 9, 2026
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Gold 4,125.10 +1.2% Silver 52.60 +1.3% Copper 6.35 +1.8% Oil 87.86 −3.3% Palladium 1,024.75 −9.2% UCU 2.34 +9.3% KAPA 0.105 +0.0% AFM 1.28 +5.3% BONE 0.040 +0.0% EM 4.30 +0.0% BKM 4.10 +2.5% SGO 0.155 +3.3% BNKR 2.79 +6.5% TECT 1.63 +7.2% MKA 0.650 +0.0% BEX 0.070 +0.0% RTH 0.035 +0.0% GBU 0.085 +13.3% KCC 0.840 +0.0% NEV 0.030 +20.0% FMAN 0.270 +5.9% Gold 4,125.10 +1.2% Silver 52.60 +1.3% Copper 6.35 +1.8% Oil 87.86 −3.3% Palladium 1,024.75 −9.2% UCU 2.34 +9.3% KAPA 0.105 +0.0% AFM 1.28 +5.3% BONE 0.040 +0.0% EM 4.30 +0.0% BKM 4.10 +2.5% SGO 0.155 +3.3% BNKR 2.79 +6.5% TECT 1.63 +7.2% MKA 0.650 +0.0% BEX 0.070 +0.0% RTH 0.035 +0.0% GBU 0.085 +13.3% KCC 0.840 +0.0% NEV 0.030 +20.0% FMAN 0.270 +5.9%
M&A / Property

Forty Pillars acquires option for Golden Link project

PLLR · Price

Executive Summary

  • Forty Pillars Mining Corp. has acquired an option to acquire a 100% interest in the Golden Link gold project in central Newfoundland through an assignment and amendment agreement dated January 7, 2026.
  • The initial consideration for the option assignment involved the issuance of 17.5 million common shares to the sellers and the assumption of $200,000 in liabilities.
  • Exercising the option requires significant future cash payments, share issuances, and exploration expenditures over a four-year period.

Key Details

  • Project Location & Scope: The Golden Link project consists of two contiguous mineral licences totaling approximately 36.25 square kilometres, located ~21 km north of Gander, Newfoundland, in the central Newfoundland gold belt.
  • Initial Consideration:
    • Issuance of 17.5 million common shares to shareholders of 1487049 B.C. Ltd.
    • Assumption of $200,000 in liabilities of 1487049 B.C. Ltd.
  • Option Exercise Requirements:
    • Cash Payments: Aggregate $375,000 payable to VOA Exploration Inc., split into $100,000 due by the first anniversary and $275,000 due by the second anniversary of the effective date.
    • Share Issuance: Aggregate 7 million common shares to VOA Exploration Inc., split into 3 million shares due by the first anniversary and 4 million shares due by the second anniversary.
    • Escrow Terms: All option shares are held in escrow and released in equal 25% tranches on dates 4 months + 1 day, 6 months, 12 months, and 18 months from issuance.
    • Exploration Expenditures: Aggregate $2.2 million required, structured as:
      • $200,000 by the first anniversary.
      • $500,000 by the second anniversary.
      • $500,000 by the third anniversary.
      • $1,000,000 by the fourth anniversary.
  • Share Restrictions: All common shares issued under the assignment agreement are subject to a statutory four-month hold and a concurrent voluntary six-month hold from the date of issuance.

Notable Quotes

  • None provided in the text.
Read the original news release →

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