Inventus Mining Corp. (TSXV: IVS) agreed to acquire the Golden Rose Mine and surrounding Belfast-Teck Mag property package from Conquest Resources Limited (TSXV: CQR) in a transaction valued at C$2.36 million.
The deal, announced on August 28, 2026, will be settled through the issuance of 8 million Inventus common shares at C$0.295 per share. The shares will be released in three equal tranches over two years, subject to TSX Venture Exchange approval.
The Golden Rose property sits 14 kilometers from Inventus’ Pardo River of Gold Project, expanding the company’s regional land position to 681 square kilometers. The acquired asset includes a shaft, decline ramp, seven underground levels and a previously permitted tailings facility.
Historical production at Golden Rose totaled approximately 52,000 ounces of gold during two operating periods: 1937–1941 and 1987–1988. A 1985 historical estimate cited 2.25 million tonnes grading 0.242 ounces per tonne, equivalent to roughly 600,900 ounces at 8.30 grams per tonne, though the estimate has not been classified as a current mineral resource.
Inventus also cited historical drill intercepts, including 19.76 grams per tonne gold over 22.88 meters and 50.93 grams per tonne over 5.79 meters, noting these results have not been independently verified to current standards.
The acquisition includes a 2.0% net smelter return royalty on claims not already subject to existing royalties, with Inventus retaining the right to purchase 0.5% of the royalty for C$1 million. No finder’s fees are payable, and the transaction remains conditional on TSXV acceptance.
