Visible Gold Mines Inc. has finalized the acquisition of a 51% interest in the Sakami property, a 250 square kilometer gold exploration site in Quebec’s James Bay Territory. The Vancouver-based miner, listed on the TSX Venture Exchange under the ticker VGD, will assume operator status and has secured an option to acquire the remaining 49% by January 31, 2027.
The transaction follows an amended agreement announced on May 27, 2026, with Morocco Strategic Minerals Corp. (TSXV: MCC) as the vendor. Visible Gold issued 1 million common shares at closing and will deliver an additional 3 million shares upon full acquisition, subject to shareholder approval. Upon reaching 100% ownership, the company will grant Morocco Strategic Minerals a 1% net smelter returns royalty, redeemable for $1 million.
The Sakami property lies within Quebec’s James Bay region, adjacent to Fury Gold’s deposit to the south and Lux Metals’ drilling program to the north. Visible Gold’s portfolio includes projects in the Abitibi Gold Belt and James Bay, reinforcing its focus on high-potential gold exploration in eastern Canada.
Share restrictions apply to the transaction. The vendor’s 4 million common shares are subject to a three-year voluntary resale restriction, with 400,000 shares released four months after closing and 1.2 million shares released annually thereafter. A regulatory resale restriction period of four months and one day also applies. The amended agreement remains pending regulatory approvals, including from the TSX Venture Exchange.
