Seabridge Gold to Separate Courageous Lake Project into Independent Entity
Spinout Announcement: Seabridge Gold plans to spin out its subsidiary, Seabridge Gold Inc., which owns the Courageous Lake gold project in Canada's Northwest Territories, into a new entity named Valor Gold.
Focus on Courageous Lake: Valor Gold will concentrate on advancing the Courageous Lake project through exploration, engineering, and permitting, with shares to be distributed to Seabridge shareholders and listed on a major stock exchange.
Seabridge's Continued Focus: Seabridge Gold will maintain its focus on the KSM gold and copper project and other exploration assets while recognizing the significant value of the Courageous Lake project.
Resource Potential: Courageous Lake is one of Canada's largest undeveloped gold projects, boasting measured and indicated resources of 11.0 million ounces of gold, with additional inferred resources, highlighting its potential in a Tier 1 jurisdiction.
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Market Surge: Spot gold prices have surged above $5,300, setting new records in the market.
FOMC Meeting Anticipation: The increase in gold prices comes ahead of the upcoming Federal Open Market Committee (FOMC) meeting.
Record High for Silver Prices: Silver prices have reached a record high of $115.13 per ounce, marking a significant increase.
Percentage Increase: The price of silver has risen over 11% recently, contributing to its record-setting value.

- Successful Financing: LaFleur Minerals Inc. has completed a $7.8 million financing, marking a strategic inflection point as the company transitions from exploration to production, providing essential funding to restart operations at the Beacon Gold Mill and potentially accelerating its valuation re-rating.
- Solid Resource Base: The Swanson Gold Project boasts an estimated mineral resource of 123,000 ounces of gold, with potential expansion towards one million ounces, establishing LaFleur's core competitive advantage in gold production and ensuring sustainable future growth.
- Defined Production Plan: The restart plan for the Beacon Gold Mill is budgeted at approximately C$5 to C$6 million, with trial runs targeted for Q1 2026, enabling rapid cash flow generation and enhancing the company's market position in the gold mining sector.
- Favorable Market Conditions: With gold prices surpassing $4,600 per ounce and analysts projecting prices to exceed $5,000 in 2026, LaFleur, as a near-term producer, stands to benefit from expanded margins and stronger cash flows.

- Mineral Confirmation: GoldHaven's Magno Project confirms silver grades up to 2,370 g/t across 36,973.294 hectares, alongside tungsten and indium discoveries, indicating significant polymetallic potential that is likely to attract further investment and reduce project risks.
- Infrastructure Investment: British Columbia's $195 million infrastructure investment directly supports critical minerals development, improving community access and enhancing GoldHaven's competitive position in the Golden Triangle region.
- Drilling Program: GoldHaven completed its inaugural drilling program at the Copeçal Gold Project in Brazil, totaling 1,085.7 meters, discovering copper mineralization that suggests the potential for a substantial gold-copper system, further driving the company's international expansion.
- Resource Control: GoldHaven now controls 133,186.16 hectares across proven mining jurisdictions in Canada and Brazil, with multiple projects advancing simultaneously, expected to further enhance its market position through an upcoming 43-101 Technical Report.









