On April 17, 2025, Freeport-McMoRan Mineral Properties Canada Inc., a wholly owned subsidiary of Freeport-McMoRan Inc., entered into two definitive earn-in agreements with Finlay Minerals Ltd. relating to Finlay’s wholly-owned PIL and ATTY Properties (the “Properties”) in the Toodoggone District of northern British Columbia.
Under the terms of the earn-in agreements, Freeport has been granted separate options to acquire up to an 80% ownership interest in each of the Properties by expending a total of $35 million in exploration expenditures and making total cash payments of $4.1 million. The earn-in in respect of each of the Properties may be exercised separately.
Following the completion of the earn-in on either of the Properties, Freeport and Finlay will respectively hold 80% and 20% in such Property, and a joint venture will be formed for further exploration and development.
Cassels acted for Freeport.