GFG Resources signs earn-in deal with Barrick on Pen Gold project in Ontario

Reuters2026/08/25 10:59

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GFG Resources signed a definitive earn-in with Barrick for the 100%-owned Pen Gold Project in Ontario’s Timmins district.
Barrick can earn 60% by paying CAD 1.2 million cash, funding CAD 17.68 million of work, delivering a 1.5 million-ounce NI 43-101 resource within six years.
Minimum three-year spend set at CAD 4 million, including at least 5,000 meters of diamond drilling before the third anniversary.
Cash includes CAD 420,000 on signing, followed by CAD 130,000 annually for six years.
Barrick may lift its stake to 70% by funding a PEA, then to 80% by funding a feasibility study.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. GFG Resources Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202608250659PRIMZONEFULLFEED9815391) on August 25, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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GFG Resources signs earn-in deal with Barrick on Pen Gold project in Ontario

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