Visible Gold Mines Inc. has completed the first tranche of an amended agreement with Morocco Strategic Minerals Corp. to acquire up to a 100% interest in the Sakami gold project in the James Bay Territory of Québec, taking over as project operator immediately.

Under the terms of the transaction, Visible Gold has issued 1,000,000 common shares to acquire its initial 51% operating stake. The company is scheduled to issue a further 3,000,000 common shares on or before January 31, 2027, to secure the remaining 49% interest. That final acquisition step remains subject to the vendor obtaining necessary shareholder approval. Both the amended agreement and the wider transaction also require final regulatory approval from the TSX Venture Exchange.

Once Visible Gold holds 100% of the property, it will grant the vendor a 1% net smelter returns royalty, which the company holds the right to repurchase for $1 million. The consideration shares issued under the agreement carry a voluntary three-year resale restriction, alongside standard regulatory hold periods.

Visible Gold initially announced its deal to acquire the 250 km² property on May 27, 2026. The transaction follows a company pivot toward gold exploration that included the August 2026 sale of its non-core MegaLi lithium property to focus entirely on gold assets.

“This acquisition represents another important step toward Visible Gold's objective of building a leading portfolio of gold exploration assets in Québec. Our strategy is focused on assembling large land positions in proven gold districts where established mining companies are already actively exploring and investing. Sakami fits squarely within that strategy, with Fury Gold's deposit immediately to the south and Lux Metals recently announcing the commencement of a drilling program to the north. With approximately 250 km² of prospective ground, Sakami provides Visible Gold with a substantial land position in an increasingly active gold exploration area and an asset we believe has the potential to become an important part of this emerging district.”

— Jean-Marc Lacoste, President and CEO

The acquisition expands Visible Gold's footprint in Québec's James Bay region as part of its ongoing consolidation of regional gold properties.

Read the full announcement: Visible Gold Announces Amended Agreement and Closing of First Tranche to Acquire up to 100% Interest in the Sakami Gold Project