Fokus closes property buy from Visible for $3-million

Executive Summary

• Fokus Mining completed a $3 million transaction to acquire 100% interests in six gold‑focused properties and a 40% interest in a seventh property from Visible Gold Mines, expanding its land base to 9,559 ha.
• Consideration consisted of $750k cash at closing, issuance of 10 million Fokus common shares (~$1.5 M), and a further $750k cash payable by Dec 3 2025.
• The acquisition triples Fokus’s acreage along the Cadillac‑Larder Lake fault, providing immediate proximity to its flagship Galloway project (NI 43‑101 inferred 1.42 Moz Au) and adjacent major gold operations.

Key Details

• Transaction Value: Approx. $3.0 million total consideration.
• Cash Paid at Closing: $750,000.
• Equity Issued: 10 million Fokus common shares valued at $1.5 million.
• Deferred Cash Payment: Additional $750,000 payable no later than Dec 3 2025.
• Properties Acquired (100%): Cadillac Break, Lucky Break, Silidor, Stadacona‑East, Wasa Creek, Wasa East.
• Partial Interest Acquired (40%): Capricorn project.
• Total Land Added: 6,473 ha across 215 exclusive exploration rights, raising total Fokus land to 9,559 ha along the Cadillac‑Larder Lake fault.
• Strategic Benefits:
• Expands land package surrounding Galloway (NI 43‑101 inferred 1.42 Moz Au at $1,750/oz; 1.79 Moz at $1,960/oz).
• Provides contiguous ground to Agnico Eagle’s Wasamac project (1.38 Moz proven & probable reserve).
• Positions Fokus near multiple high‑grade historic drill targets and major peers (Agnico Eagle, Gold Candle, Falco Resources).
• Royalty Transaction:
• Existing 0.5% NSR royalty holders exercised option to increase NSR to 1% for $750,000 cash consideration.
• Proceeds from the original $750k NSR were used by Fokus to exercise a right of first refusal on a separate 0.5% NSR royalty from Vanstar Mining Resources (Iamgold subsidiary); that royalty was subsequently repurchased and cancelled.
• Closing Timeline: Additional NSR increase expected to close within a few days of the announcement.

Notable Quotes

(No direct quotes were provided in the release.)