Sirios Completes Acquisition Of OVI Mining Corp

The most recent news (Feb 27, 2026) confirms the completion of the acquisition of OVI Mining Corp. This follows a series of strategic moves including a significant Mineral Resource Estimate (MRE) update at the flagship Cheechoo project and a successful joint venture milestone at the Aquilon project. Key leadership changes are now effective: Jean-Félix Lepage (formerly OVI) takes over as CEO, while founder Dominique Doucet moves to Executive Chairman. Crucially, Sean Roosen (CEO of Osisko Development) and Laurence Farmer have joined the board, signaling strong institutional backing from the Osisko group.

This is a "Game Changer" for a micro-cap explorer. - Institutional Validation: The involvement of Sean Roosen and the "Osisko banner" provides Sirios with immediate credibility in capital markets and technical expertise for mine development. - Resource Scale: The combined entity holds the Cheechoo deposit with 1.3 Moz Indicated and 1.7 Moz Inferred gold, now optimized for both open-pit and underground mining. - Portfolio Diversification: The acquisition adds the PLEX and Corvet Est projects, while the Aquilon project has transitioned to a joint venture where Sumitomo Metal Mining Canada has earned a 51% interest by spending $4.8M, relieving Sirios of immediate funding pressures there. - Treasury Boost: Recent warrant and option exercises added $1.5M to the treasury in early 2026, providing a buffer for integration and upcoming exploration.

Sirios is focused on the Eeyou Istchee James Bay region of Quebec. Its flagship Cheechoo Gold Project is located less than 15km from the Éléonore gold mine. The project has evolved from a low-grade bulk tonnage prospect to a dual-potential model (open-pit and high-grade underground) with a total resource exceeding 3 million ounces across all categories.