Kingfisher Metals Corp. (TSXV: KFR) has entered into an agreement with Barrick Mining Corporation, securing a strategic investment through a non-brokered private placement. The deal involves the issuance of 15,470,934 units at a price of C$1.35 per unit, representing gross proceeds of C$20,885,761. Each unit comprises one common share and half of a common share purchase warrant, exercisable at C$1.70 for two years. Upon closing, expected by July 27, 2026, Barrick will hold an approximately 9.9% non-diluted interest in the company. Following this announcement, the shares closed at $1.24, reflecting a 20.39% increase on July 21, 2026.

The capital injection is primarily earmarked for the exploration and development of the HWY 37 project in British Columbia. Kingfisher has consolidated a significant land position in the Golden Triangle, with the HWY 37 project covering 933 km² and the nearby Forrest Kerr project spanning 202 km². These assets are currently the focus of an active 15,000-meter diamond drill campaign intended to continue throughout the 2026 field season.

"We are very pleased to welcome Barrick as a strategic shareholder of Kingfisher, following their extensive due diligence." — Dustin Perry, President, CEO, and Director

As part of the transaction, Kingfisher and Barrick have established an investor rights agreement. This contract grants Barrick technical committee appointment rights and access to technical data regarding the HWY 37 project to monitor the development. Furthermore, the company has agreed to a project-level restriction for 24 months, preventing the sale or transfer of any interest in the project without Barrick’s consent. The agreement also includes standard provisions such as pro-rata participation rights and a two-year standstill, during which Barrick is prohibited from acquiring more than 15% of the outstanding shares.

"Post-closing, the Company will have approximately $47 million in cash, providing us with the flexibility to fund aggressive ongoing exploration programs aimed at delineating copper-gold mineralization at our recent Hank Porphyry discovery and throughout the extensive Golden Triangle land position." — Dustin Perry, President, CEO, and Director

This strategic partnership serves to bolster the company's financial position as it advances its exploration agenda. With the anticipated proceeds, Kingfisher intends to maintain momentum on its current drill program. By integrating Barrick as a major shareholder, the explorer gains not only financial backing but also professional mining experience and technical oversight. The involvement of such an established industry player in the Golden Triangle underscores the perceived prospectivity of the company's current land package. All securities issued under this private placement remain subject to a four-month-and-one-day statutory hold period in compliance with local regulations. Maxit Capital LP acted as the financial advisor to the company, while legal counsel was provided by Forooghian + Company and Davies Ward Phillips & Vineberg LLP.

Read the full announcement: Kingfisher Announces Strategic Investment from Barrick