Discovery Mining Ltd. will acquire mineral properties and assets near its Dome Mine in Timmins, Ontario, from McEwen Inc. for US$55 million. The purchase includes the Fuller project and a 60% stake in the Paymaster Joint Venture.
Discovery will pay $5 million in cash and issue $50 million in common shares. The company said the acquisition advances its strategy to significantly increase gold production in the Timmins Camp.
The new land could host future processing and tailings facilities to support a large-scale resumption of operations at the Dome Mine, which has an 11-million-ounce inferred resource. The transaction is expected to close in October 2026, subject to regulatory and exchange approvals.