Americore raising up to $3.0 million for Nevada silver drilling

Americore Resources Corp. [AMCO-TSXV, AMCOF-OTCQB, 5GP-FSE], a company previously known as K9 Gold, has announced details of a non-brokered private placement financing that is expected to raise up to $3.0 million.

Net proceeds from the offering will be used to advance exploration activities at the company’s Trinity Silver Project located in Pershing County, Nevada.

Americore said the private placement will consist of up to 6.0 million units priced at $0.50 per unit. Each unit will consist of one common share and one transferable common share purchase warrant, each of which will entitle the holder to acquire one additional share for 80 cents for 24 months from the date of issuance.

The warrants will be subject to an acceleration provision. Under that provision, if the shares trade at or above $1.00 for 20 consecutive trading days, the company may elect to accelerate the expiry date of the warrants. Once the holders are notified, the warrants would then expire within 30 days.

Americore share were active on the news, easing 1.8% or $0.01 to 55 cents. The shares trade in a 52-week range of 91 cents and $0.095.

Back in September 2025, Americore [then known as K9 Gold] said it had into an exploration agreement and an option to purchase and sales deal with Newmont USA Ltd, a unit of Newmont Corp. [ NEM-NYSE, ASX, PNGX]. regarding the Trinity project. The agreement stated that Newmont would sell, assign, transfer, convey and deliver to Americore all of its rights, title, interest and obligations to both the owned properties and the leased properties. The payment for the purchase involved a one-time payment of US$350,000, and the issuance to Newmont of 700,000 common shares of Americore. The agreement is subject to a mineral production royalty at a rate of 2.0% net smelter return. Americore can purchase one half of the royalty for $3.5 million at any time prior to commercial production.

Exploration at the Trinity mine in the early to mid-1980s led to open-pit mining, and heap leach processing in the late 1980s when U.S. Borax and Chemical and a joint venture partner recovered about 5.0 million ounces of silver from the property.

The leach pad, located south of the open pit was closed with an evaporative cap and underwent drain down monitoring until 2006, when the leach pad drain down monitoring ceased.

Americore is planning to conduct exploration on the private and public lands in the vicinity of the historical exploration that was conducted by prior operators. In a March, 2026, press release, the company said all data has now been received from a drone magnetometer survey that was designed to identify any and all structures within approximately 6.0 kilometres of strike running in a southwest to northeast direction, with the Trinity open pit at its centre.

The company also said it had launched the permitting process in anticipation of a second quarter 2026 drill program designed to confirm that data available in the drill data base.