StrikePoint has entered into a definitive agreement to acquire the Northumberland Gold Project in Nevada from subsidiaries of Newmont Corporation for US$70 million in upfront cash, alongside two contingent cash payments of US$25 million each tied to a future feasibility study and commercial production milestones.

Upon completion of the transaction, Northumberland will become the company's flagship asset. The project is supported by an initial independent mineral resource estimate of 2.86 million ounces of gold equivalent in the indicated category, contained within 67 million tonnes grading 1.33 grams per tonne, and 1.57 million ounces of gold equivalent in the inferred category, contained within 31 million tonnes grading 1.58 grams per tonne. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

To fund the cash consideration and advance exploration, StrikePoint has arranged a bought deal private placement financing of C$140 million led by Canaccord Genuity through the issuance of 70 million subscription receipts at C$2.00 each, preceded by a 10-for-1 share consolidation. The financing marks a substantial scale-up from the company's November 2025 LIFE offering, which raised gross proceeds of C$3.119 million at C$0.15 per unit. In addition, the company intends to complete a non-brokered private placement of units for gross proceeds of up to C$2 million.

Closing of the acquisition is anticipated to occur on or about the end of September 2026, subject to regulatory approvals including conditional approval from the TSX Venture Exchange, where trading in the company's shares is currently halted.

“Acquiring Northumberland is a transformational step for StrikePoint. We will be focused on unlocking the potential of Northumberland going forward and advancing exploration and development activities at Northumberland. In addition to the known initial MRE outlined herein, the acquired land package has potential for additional mineral resources based on identified exploration targets. There are “near pit” and “in pit” opportunities for resource expansion as well as the regional targets to be tested.”

— Michael G. Allen, President and CEO of StrikePoint

The company also maintains the Hercules Gold Project in Nevada, acquired in September 2024 for $250,000, and anticipates delivering a maiden resource estimate for Hercules in Q3 2026.

“Also, I am pleased to welcome Mr. Alan Pangbourne who will be joining the Board of Directors of StrikePoint as Chairman upon completion of the Transaction. Current Chairman, Shawn Khunkhun will remain as a strong voice on the Board.”

— Michael G. Allen, President and CEO of StrikePoint

In the trading session coinciding with the announcement on August 18, 2026, the stock rose 10.00% to close at $0.165.

Read the full announcement: StrikePoint Announces Agreement to Purchase the Northumberland Project, a Gold Deposit in Nevada’s Walker Lane, from Newmont Corporation