Nord Precious Metals Mining closes acquisition of Gowganda Silver Camp claims, Ontario
Nord Precious Metals Mining Inc. [TSXV: NTH; OTCQB: CCWOF; FF: QN3] reported has completed its previously announced acquisition of four mining leases in the Gowganda Silver Camp of northeast Ontario. The acquisition was completed under an amended and restated asset purchase agreement dated March 31, 2026, among the company, Battery Mineral Resources Corp. [TSXV: BMR; OTCQB: BTRMF] and North American Cobalt Inc., amending the terms of its previously announced asset purchase agreement dated January 5, 2025.
In accordance with the definitive agreement, Nord has acquired four mining leases (LEA-109391 – LEA109394) comprising the Gowganda Property from NACI, BMR’s wholly-owned subsidiary, for the following consideration: $1,000,000 cash on the closing date; the issuance to BMR, on behalf of NACI, on the closing date of 4,401,408 common shares in the capital of Nord at a deemed price equal to $0.284 per share; a 3.0% net smelter return royalty on the Gowganda property; and deferred consideration of $1,250,000 on each of the first, second and third anniversaries of the closing date of the transaction for aggregate deferred consideration of $3,750,000.
At Nord’s election, up to 50% of each deferred consideration payment may be satisfied in Nord Shares at a deemed price per share equal to the greater of the 25-day volume-weighted average trading price per Nord common share on the TSX Venture Exchange ending on the last trading day preceding the applicable payment date, and the minimum price permitted by the TSXV; provided however that the aggregate number of Nord shares that may be issued in satisfaction of the deferred consideration shall not exceed 10,938,610 purchaser shares.
In the event the maximum share limit is reached, any remaining balance of the deferred purchase price must be satisfied entirely in cash. The Nord shares issued in satisfaction of the deferred consideration will be subject to a statutory hold period of four months and one day from the date of issuance. Completion of the transaction remains subject to receipt of the final approval of the TSXV.
Nord operates TTL Laboratories, the only permitted high-grade milling facility in the historic Cobalt Camp of Ontario, where the company has established an integrated position connecting high-grade silver discovery with strategic metals recovery operations.
The company’s flagship Castle property encompasses 63 km2 of exploration ground and the past-producing Castle Mine, complemented by the Castle East discovery where drilling has delineated 7.56 million ounces of silver in Inferred resources grading an average of 8,582 g/t Ag (250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Castle East Robinson Zone, beginning at a vertical depth of approximately 400 metres. The above resource is now considered an historical resource. Significant additional diamond drilling and analytical work along with modelling is required before a new resource estimate can be compiled.
Nord’s integrated processing strategy enables multiple metal recovery streams. High-grade silver recovery supports the economics of extracting critical minerals including cobalt, nickel, and other battery metals. The Re-2Ox hydrometallurgical process, validated at pilot scale through SGS Lakefield, eliminates the typical arsenic barriers in complex silver-cobalt ores while producing battery-grade cobalt sulphate and other metal products to customer specifications. This multi-metal approach, combined with established infrastructure including TTL Laboratories and underground mine access, positions Nord within Ontario’s emerging critical minerals supply chain.
The company maintains a strategic portfolio of battery metals properties in Northern Quebec through its 35% ownership in Coniagas Battery Metals Inc. [TSXV: COS], as well as the St. Denis-Sangster lithium project comprising 32 km2 of prospective ground near Cochrane, Ontario.