Stardust Metal Corp. has brought its option agreement with Orecap Invest Corp. into effect after receiving acceptance from the TSX Venture Exchange, allowing Stardust to advance the high-grade McGarry Project in the Kirkland Lake Gold District.

Under the agreement, Stardust can earn up to a 50% interest in McGarry by completing $13 million in total commitments over four years. This commitment comprises $500,000 in cash payments across five instalments—beginning with a $250,000 closing payment—and $12.5 million in work obligations. Stardust is required to update the mineral resource estimate for the McGarry Project in accordance with NI 43-101 as part of its Stage 1 work commitments. The work obligations also encompass evaluating historical tailings and executing drill campaigns at the McGarry Project with an initial focus on the Kerr Extension. Once the initial option stage is completed, the companies will form a 50/50 joint venture with Stardust operating the project.

Stardust holds a second option to acquire an additional 25% interest within two years of earning the first 50% by making a $50 million cash payment to Orecap.

Orecap consolidated 100% ownership of the McGarry tenure across 681 hectares encompassing 2.4 kilometres of the Cadillac-Larder Lake Break in October 2025 before optioning the interest to Stardust. The McGarry Project hosts approximately 36 million tonnes of historical tailings from the adjacent Kerr-Addison mine, which historically produced approximately 11 million ounces of gold.

The transaction was initially announced as a binding letter of intent on November 18, 2025, and received shareholder approval on July 14, 2026. Orecap is a significant shareholder of Stardust, owning 4.9 million shares, representing approximately 10.9% of its outstanding shares.

Read the full announcement: Orecap Receives TSXV Acceptance for Stardust Agreement on McGarry Gold Project