Probe Gold Expands Monique Deposit with Bermont Claims Acquisition

Deal News | Jan 06, 2025 | Globenewswire

Probe Gold Inc., a major Canadian mining company, has successfully acquired the Bermont Claims adjacent to its Monique Gold Deposit in Val-d’Or, Quebec. The purchase from Gestion Jadmine Inc. adds a 750-meter potential strike extension and is expected to enhance resource expansion and mine design while reducing costs. The transaction, valued at $3 million, includes cash and common shares payments, and an additional $1.5 million contingent on confirming a significant gold resource. The newly acquired property, minimally explored before, holds potential high-grade gold resources in zones paralleling the Monique deposit. Probe's 2025 plans include strategic drilling programs to further explore its holdings in the prolific Val-d’Or East area.

Sectors

Mining & Metals
Mergers & Acquisitions

Geography

Canada – The acquisition and related activities are taking place in Val-d’Or, Quebec, a notable region in Canada for gold mining.

Industry

Mining & Metals – The article focuses on the acquisition of a mineral resource expanse by a gold mining company, indicating activity in the mining sector.
Mergers & Acquisitions – Probe Gold's strategic acquisition of the Bermont Claims is aimed at expanding its golden resource base, which is a direct example of M&A within the mining industry.

Financials

$3.0 million – Total value for acquiring the Bermont Claims, split equally between cash ($1.5 million) and common shares.
$1.5 million – Milestone payment upon confirming a mineral resource of at least 1,000,000 ounces of gold according to NI 43-101 standards.
$2,500,000 – Cost to Probe for purchasing an additional 2.5% share of the NSR retained by Gestion Jadmine Inc.

Participants

Name	Role	Type	Description
Probe Gold Inc.	Acquiring Company	Company	A leading Canadian company focused on gold properties exploration and development, expanding its asset base with the acquisition of the Bermont Claims.
Gestion Jadmine Inc.	Selling Company	Company	A company holding the Bermont Claims, which were sold to Probe Gold, and retains a Net Smelter Return (NSR) over the claims.
Dr. David Palmer	President & CEO	Person	The chief executive of Probe Gold, responsible for overseeing the company’s expansion and strategic acquisitions.
Marc Ducharme	Vice President Exploration	Person	Responsible for scientific and technical validation in Probe Gold's acquisition of the Bermont Claims.