Exploits Discovery has finalized a property purchase agreement with New Found Gold for the sale of a 100% interest in its central Newfoundland mineral claims, totaling 49,600ha. The sale will allow Exploits to focus on advancing its new gold projects in Ontario and Québec.

New Found Gold will issue C$7m and grant a 1% net smelter returns royalty on select claims as part of the agreement. An additional C$1.8m in shares is contingent on a positive legal outcome for disputed claims. The transaction requires approval from Exploits’ shareholders and is expected to close in the fourth quarter of 2025.

New Found Gold CEO Keith Boyle stated that the acquisition of the additional landholdings in central Newfoundland will help build a district-scale land package around Queensway. This sale follows NFG’s recent acquisition of Maritime Resources, with the combined transaction valued at approximately C$292m.

Read more at Yahoo Finance.: Exploits Discovery to divest Newfoundland mineral claims to New Found Gold