On May 30, 2025, Rocky Shore Gold Ltd. entered into a definitive agreement with a subsidiary of Barrick Mining Corporation to sell its Hemlo-area mineral claims near Marathon, Ontario for cash consideration of $975,000. The agreement includes all Ontario claims owned by Rocky Shore, including the claims subject to an earlier option agreement, which will be terminated on closing of the transaction.
Rocky Shore will retain a variable-rate royalty of up to 0.5% Net Smelter Returns on the claims; the rate per claim will depend on the preexisting royalty burden on such claim, and Barrick will have the right to buy back 50% of the royalty by making a one-time cash payment of $500,000. The transaction is expected to close within 30 days.
Cassels is acting for Rocky Shore.