REV Exploration to Acquire Additional Mining Claims in Chibougamau Gold Camp
Sprott-Backed Land Grab Consolidates Chibougamau Footprint as Hydrogen Pivot Meets Gold Fever
On January 14, 2026, REV Exploration Corp. announced an agreement to acquire a 100% interest in an additional 6,700 hectares in the Chibougamau Gold Camp, Quebec. The acquisition brings the company’s total land package in the district to approximately 52,000 hectares (520 sq. km.). Consideration for the deal includes $150,000 in cash ($25,000 deposit, remainder on closing), $350,000 in common shares, and a 1.0% Net Smelter Return (NSR) royalty granted to the vendor. This follows the January 12 announcement of a separate closing of 72 mining claims in Ontario and Quebec for 500,000 shares and the January 5 upsizing of a $2.8 million LIFE (Listed Issuer Financing Exemption) offering.
- District Consolidation: The acquisition increases the company's land position in Chibougamau by roughly 15%. This suggests a strategy of aggressive regional consolidation following the $5.5 million financing lead by Eric Sprott on December 30, 2025.
- Deployment of Capital: REV is moving quickly to deploy its newly raised capital into "tier-1" jurisdictions. However, the consideration is split between cash and shares, preserving some liquidity while continuing to dilute the capital structure.
- Strategic Pivot/Hybrid Model: While the company spent much of mid-2025 pivoting toward "Natural Hydrogen" at its Aden Dome project in Alberta, these recent moves signal a massive re-commitment to Quebec gold exploration.
- Exploration Stage: The new claims are early-stage exploration assets. There are no mineral resources or proven reserves on the newly acquired ground, maintaining the company's high-risk junior exploration profile.
REV Exploration Corp. (formerly Gitennes Exploration) is a dual-focus explorer. Its primary gold assets are the JMW and Maxwell properties in the Chibougamau Gold Camp, Quebec. The JMW property is located on trend with IAMGOLD’s Nelligan deposit. Historical drilling at JMW (2022) returned 7 g/t Au over 0.7m. The company's secondary "flagship" is the Aden Dome Natural Hydrogen project in Alberta, where it is a first-mover in a "wildcat" exploration sector targeting naturally occurring hydrogen in Precambrian basement rocks.