On March 2, 2026, Discovery Silver Corp. (“Discovery”) entered into a definitive asset purchase agreement to acquire, through a wholly owned subsidiary, Glencore Canada Corporation’s (“Glencore”) 100% interest in the Kidd operations in Timmins, Ontario. The Kidd operations include the Kidd Metallurgical Site, the Kidd tailings management area and the Kidd Creek Mine. Consideration payable to Glencore at closing includes (i) shares of Discovery valued at $10 million; (ii) the assumption of all financial assurances and environmental and rehabilitation obligations associated with the Kidd Metallurgical Site and the Kidd Creek Mine, subject to the terms of the agreement; (iii) offtake and royalty agreements for the outputs of the Kidd operations; and (iv) a deferred payment of up to $75 million, payable in cash or shares of Discovery, when certain permits and regulatory approvals relating to the Kidd tailings management area have been received.
Cassels is acting for Discovery.