Cadillac Mines Corporation has completed its acquisition of the Larder Property from Pan American Silver Corp. under a binding asset purchase agreement initially announced on May 8, 2026.

To settle the transaction, Cadillac Mines issued 15,000,000 common shares to Pan American. Combined with shares purchased during the company's initial public offering, Pan American now holds approximately 6% of the company's issued and outstanding common shares.

The Larder Property spans more than 6,400 hectares along the Larder Lake Cadillac Break in Ontario, sitting contiguous to Cadillac Mines’ Kerr-Addison property to the west. The acquisition expands the company's total land position in the Abitibi region to over 27,000 hectares.

The property encompasses three mineral deposits—Bear, Cheminis and Fernland—hosting historical resources totalling 388,000 ounces of indicated gold across 5.1 million tonnes at 2.39 grams per tonne, alongside 933,000 ounces of inferred gold across 6.9 million tonnes at 4.21 grams per tonne. These figures remain historical estimates and have not been classified as current resources by a qualified person.

"We are excited to close this transaction and welcome Pan American as a meaningful, strategic shareholder. Adding Larder to our already robust portfolio of assets along the Cadillac Larder break increases our gold resource base, grows our land package and further enhances our regional exploration potential. We plan to deploy a number of our 11 currently active drill rigs to Larder in the near term."

— Rick Howes, Chief Executive Officer

The integration follows Cadillac Mines’ upsized initial public offering and concurrent private placement in August 2026, which secured approximately $440 million in gross proceeds. The company is actively diamond drilling at the contiguous Kerr-Addison project and plans to reallocate a portion of its 11 active drill rigs to the Larder ground.

Read the full announcement: Cadillac Mines Corporation Completes Acquisition of Larder Property from Pan American Silver