202624 releases
P2 Gold Extends Gold-Copper Mineralization along the Southwest Margin of the Lucky Strike Zone
P2 Gold reports drill results from seven reverse circulation holes along the southern and southwest margins of the Lucky Strike Zone at its Gabbs Project in Nevada, with all but hole GBR-134, which was lost to ground conditions, expanding the zone. Highlights include hole GBR-137 intersecting 0.52 g/t gold and 0.22% copper over 60.96 meters starting at 59.44 meters downhole. The company says the zone is thickening to the south and southwest and remains open in all directions.
Drill resultsP2 Gold Extends Sullivan Zone Mineralization Downdip and Identifies New Mineralized Unit within Sullivan PEA Pit Shell
Six reverse circulation holes on the downdip extension of the Sullivan Zone at the Gabbs gold-copper project in Nevada returned results including GBR-133 with 0.32 g/t gold and 0.18% copper over 70.10 metres from 64.01 metres, and GBR-140 with 0.32 g/t gold and 0.13% copper over 51.82 metres from 94.49 metres. GBR-133 and GBR-140 intersected a new hanging wall mineralized unit in an area modelled as waste in the PEA. An updated Mineral Resource estimate is targeted for later this quarter, with a feasibility study expected in Q1 2027.
Drill resultsP2 Gold Gabbs Project Update: Feasibility Study on Track
A feasibility study for the 100%-owned Gabbs gold-copper project in Nevada is targeted for completion in Q1 2027, with an updated mineral resource estimate expected in Q4 2026 following 96 RC and 39 diamond drill holes. The study will now assume a mill operating at 12 million tonnes per year from year three, alongside heap leaching of 12 to 14 million tonnes per year in years one and two. A detailed mining plan of operations is expected to be filed with the BLM in Q1 2027.
Study resultsP2 Gold Intersects 0.62 g/t Gold and 0.22% Copper Over 118.87 Meters, Including 44.20 Meters grading 1.12 g/t gold and 0.33% Copper at the Heart of the Lucky Strike Zone
Drilling at the Lucky Strike Zone of the Gabbs gold-copper project in Nevada returned 0.62 g/t gold and 0.22% copper over 118.87 meters from 54.86 meters in hole GBR-124, including 44.20 meters at 1.12 g/t gold and 0.33% copper, while GBR-129 cut 0.69 g/t gold and 0.22% copper over 129.54 meters, including 24.38 meters at 1.12 g/t gold and 0.38% copper. Results cover eight RC holes (GBR-122 to GBR-129); 92 RC holes have been drilled since October 2025. An updated mineral resource estimate is expected in the fourth quarter of 2026.
Drill resultsP2 Gold: Car Body Zone Metallurgy and Drill Results Support Plans to Accelerate Mining and Cash Flow; Gabbs Project Update
Column leach tests on three oxide samples from the Car Body Zone at the Gabbs gold-copper project in Nevada returned average gold recovery of 78.3% at 7 days, 92.7% at 39 days and 95.6% at 73 days. Metallurgical drill hole GBD-011 cut 0.76 g/t gold over 39.62 metres from 9.14 metres, including 13.72 metres at 1.62 g/t, and GBD-013 cut 0.78 g/t over 28.19 metres. An updated mineral resource estimate is now expected in the fourth quarter, with a feasibility study in the first quarter of 2027.
Study resultsP2 Gold Intersects 0.78 g/t Gold and 0.29% Copper Over 79.25 Meters, Including 1.28 g/t Gold and 0.34% Copper over 21.34 meters at the Heart of the Lucky Strike Zone
Drilling at the Lucky Strike Zone of the Gabbs gold-copper project in Nevada returned 0.78 g/t gold and 0.29% copper over 79.25 meters, including 21.34 meters at 1.28 g/t gold and 0.34% copper, in hole GBR-118, while GBR-119 cut 0.37 g/t gold and 0.16% copper over 158.50 meters, the thickest interval drilled at Gabbs to date. Results cover ten RC holes (GBR-112 to GBR-121) and four diamond holes (GBD-040 to GBD-043). An updated resource estimate will underpin a feasibility study expected in the fourth quarter of 2026.
Drill resultsP2 Gold: Gabbs Geotechnical Drilling Confirms Lucky Strike Zone Remains Open in All Directions
Three geotechnical diamond drill holes at the Lucky Strike Zone of the Gabbs Project on Nevada's Walker-Lane Trend returned gold-copper mineralization at the margins of the planned open pit, including 0.50 g/t gold and 0.20% copper over 123.44 meters from 166.12 meters in GBD-039, and 0.44 g/t gold and 0.36% copper over 25.91 meters from 144.78 meters in GBD-022. An additional 15,000 meters of RC drilling is planned, with an updated Mineral Resource estimate expected in Q3 2026 and a feasibility study in Q4 2026.
Drill resultsP2 Gold: Gabbs Geotechnical Drilling Confirms Sullivan Zone Remains Open for Expansion Down Dip
Five diamond drill holes (GBD-007 to GBD-010 and GBD-017) at the Sullivan Zone of the Gabbs Project on Nevada's Walker-Lane Trend all intersected gold-copper mineralization at the planned pit margins, including 0.50 g/t gold and 0.27% copper over 140.21 meters from 99.36 meters in GBD-008 and 0.38 g/t gold and 0.18% copper over 123.44 meters from 62.48 meters in GBD-010. A 7,500-meter RC program will test down dip mineralization for an updated resource estimate, with a feasibility study expected in the fourth quarter of 2026.
Drill resultsP2 Gold Gabbs Project Update: Feasibility Study on Track
A feasibility study for the 100%-owned Gabbs gold-copper project in Nevada remains targeted for completion in the fourth quarter of 2026, using a nominal production rate of 12 million tonnes per year targeting average annual output of 150,000 ounces gold and 45 to 50 million pounds copper. Since October 2025, 69 RC holes have been drilled (24 at Sullivan, 45 at Lucky Strike), plus 29 geotechnical/metallurgical and 10 exploration diamond holes; infill drilling has been expanded and a second RC rig mobilizes in early August.
Study resultsP2 Gold Closes Financing
A non-brokered private placement of 15.5 million units at $0.75 per unit closed for gross proceeds of $11,625,000, with each unit comprising one common share and one warrant exercisable at $1.50 for two years. The Quaternary Group Limited subscribed for 10 million units and insiders for 300,000 units; no finder's fees were paid and securities are subject to a hold period expiring September 26, 2026. Proceeds will fund exploration and development at the Gabbs Project in Nevada and general corporate purposes.
FinancingP2 Gold Intersects 183.0 g/t Gold and 4.0% Copper Over 1.52 Meters within a Longer Mineralized Interval at the Lucky Strike Zone
Drill hole GBD-021 at the Lucky Strike Zone of the Gabbs Project on Nevada's Walker-Lane Trend returned 1.04 g/t gold and 0.35% copper over 53.34 meters from 60.96 meters, including 1.52 meters grading 183.0 g/t gold and 4.0% copper from 73.15 meters (uncapped); GBD-029 returned 0.88 g/t gold and 0.34% copper over 56.39 meters from 97.54 meters. Since October 2025, 67 RC holes have been drilled, 43 at Lucky Strike. An updated Mineral Resource estimate is expected in the third quarter of 2026, with a feasibility study in the fourth quarter of 2026.
Drill resultsP2 Gold Upsizes Financing
A non-brokered private placement has been upsized again, to 15.5 million units at $0.75 per unit for gross proceeds of up to $11,625,000, after being raised from 10 million units on April 22, 2026 to 15 million on April 28, 2026. Each unit comprises one common share and one warrant exercisable at $1.50 for two years. The Quaternary Group Limited is subscribing for 10 million units; proceeds will fund exploration and development at the Gabbs Project in Nevada and general corporate purposes, with closing expected in about two weeks.
FinancingGabbs Project Feasibility Study: Nominal Production Rate Increased to 12 Million Tonnes per Year and Mill Operations Advanced to Year Three
The feasibility study for the 100%-owned gold-copper Gabbs Project in Nevada will use a nominal production rate of 12 million tonnes per year, up from 9 million, with heap leach at 14 million tonnes per year in years one and two and mill start-up advanced from year six to year three at seven million tonnes per year. The study is targeted for completion in the fourth quarter of this year, with metallurgy test work and power supply studies in progress.
Study resultsP2 Gold Intersects 0.69 g/t Gold and 0.25% Copper Over 74.68 Meters, Including 1.32 g/t Gold and 0.38% Copper over 30.48 meters at Lucky Strike Zone
Ten reverse circulation holes at the Lucky Strike Zone of the Gabbs Project on Nevada's Walker Lane Trend returned 0.69 g/t gold and 0.25% copper over 74.68 metres from 149.35 metres in GBR-099, including 1.32 g/t gold and 0.38% copper over 30.48 metres; GBR-110 returned 0.72 g/t gold and 0.31% copper over 44.20 metres and GBR-111 returned 0.71 g/t gold and 0.30% copper over 70.10 metres. An updated Mineral Resource estimate is expected in Q3 2026, with a feasibility study in Q4 2026.
Drill resultsP2 Gold Upsizes Financing
A non-brokered private placement first announced April 22, 2026 has been upsized to 15 million units from 10 million units at $0.75 per unit, for gross proceeds of up to $11,250,000, with The Quaternary Group Limited subscribing for 10 million units. Each unit includes one common share and one warrant exercisable at $1.50 for two years. Proceeds will fund exploration and development at the Gabbs Project in Nevada and general corporate purposes, subject to TSX Venture Exchange approval.
FinancingP2 Gold Announces Financing by Strategic Investor
A non-brokered private placement of 10 million units at $0.75 per unit for gross proceeds of $7,500,000 will be made to The Quaternary Group Limited, with each unit comprising one common share and one warrant exercisable at $1.50 for two years. Proceeds will fund exploration and development at the Gabbs Project in Nevada and general corporate purposes. On closing, Quaternary Group will hold 25 million shares and 25 million warrants, about 8.7% non-diluted and 16.0% diluted.
FinancingP2 Gold Intersects 0.90 g/t Gold and 0.34% Copper Over 48.77 Meters, Including 1.61 g/t Gold and 0.49% Copper over 21.34 meters at Lucky Strike Zone
Ten additional reverse circulation holes at the Lucky Strike Zone of the Gabbs Project on Nevada's Walker Lane Trend returned 0.90 g/t gold and 0.34% copper over 48.77 meters from 88.39 meters in GBR-103, including 21.34 meters at 1.61 g/t gold and 0.49% copper, plus 0.61 g/t gold and 0.35% copper over 73.15 meters in GBR-106. Of a planned 11,500 meters in 70 holes, 62 RC holes have been drilled since October 2025. An updated resource estimate is expected in Q3 2026 and a feasibility study in Q4 2026.
Drill resultsP2 Gold Signs Definitive Water Rights Agreement for the Gabbs Project
A definitive agreement dated April 1, 2026 with an arm's length private vendor will give wholly-owned subsidiary P2 Gabbs Inc. 2,500 acre-feet per year of water rights in Nevada's Gabbs Basin, on terms unchanged from the March 25, 2026 news release. Closing depends on the Nevada Division of Water Resources transferring the points of diversion, places of use and manner of use from irrigation to mining, milling and dewatering, expected in six to twelve months.
CorporateP2 Gold Announces Infill and Expansion Drill Results from Gabbs
Results from the final seven RC holes (GBR-067 to 073) at the Sullivan Zone of the Gabbs Project on Nevada's Walker Lane Trend include 0.43 g/t gold and 0.19% copper over 71.63 meters from 25.91 meters in GBR-068, 0.55 g/t gold and 0.34% copper over 60.96 meters from 28.96 meters in GBR-069, and 0.41 g/t gold and 0.23% copper over 70.10 meters from 74.68 meters in GBR-073. Sullivan drilling totalled 4,120 meters in 24 holes; an updated resource estimate is expected mid-2026 and a feasibility study in Q4 2026.
Drill resultsP2 Gold Announces Infill and Expansion Drill Results from Gabbs
Results from 11 additional reverse circulation holes (GBR-056 to 066) at the Sullivan Zone of the Gabbs Project on Nevada's Walker Lane Trend include 0.54 g/t gold and 0.36% copper over 50.29 meters from 32.00 meters in GBR-062, 0.51 g/t gold and 0.39% copper over 59.44 meters from 47.24 meters in GBR-064, and 0.69 g/t gold and 0.31% copper over 76.20 meters from 56.39 meters in GBR-066. An updated mineral resource estimate is expected mid-2026, with a feasibility study in the fourth quarter of 2026.
Drill resultsP2 Gold Announces Convertible Debenture Interest Payment
Interest accrued on outstanding convertible debentures will be paid in shares rather than cash. P2 Gold had $1,118,000 of convertible debentures outstanding at December 31, 2025, and will issue 63,079 common shares, roughly 56.42 shares per $1,000 principal, to cover about $42,270 of interest due December 31, 2025, subject to TSX Venture Exchange approval and a four-month hold period. Principal is repayable by January 31, 2026, with holders able to convert at $0.10 per share until then.
Financing
202521 releases
P2 Gold Grants Options
Stock options to purchase an aggregate of 5,350,000 common shares have been granted to directors, officers, employees and consultants at an exercise price of $0.54 per share, expiring December 17, 2027. Following the grant, P2 Gold has 10,066,000 stock options outstanding, representing approximately 4.5% of outstanding common shares. The grant is subject to acceptance by the TSX Venture Exchange.
CorporateP2 Gold Announces First Drill Results from Infill and Expansion Drilling at Gabbs
Drilling at the Sullivan Zone of the Gabbs Project on Nevada's Walker-Lane Trend returned 0.96 g/t gold and 0.32% copper over 38.10 meters from 4.57 meters in hole GBR-051, 0.58 g/t gold and 0.35% copper over 67.06 meters from surface in GBR-053, and 0.76 g/t gold and 0.29% copper over 85.34 meters from surface in GBR-054. Twenty-four holes have been drilled at Sullivan since mid-October, with eight at Lucky Strike to date. An updated Mineral Resource estimate is expected mid-2026, with a feasibility study in the fourth quarter of 2026.
Drill resultsP2 Gold Files Gabbs PEA Technical Report
A NI 43-101 technical report for the Preliminary Economic Assessment of the Gabbs Heap Leach and Mill Project in Nye County, Nevada, with an effective date of October 7, 2025, has been filed on SEDAR+ and the company's website. The PEA outlines annual average production of 109,000 ounces gold and 15,000 tonnes copper over a 14.2-year mine life. The report was prepared by independent qualified persons from Kappes, Cassiday & Associates, P&E Mining Consultants and Welsh Hagen Associates.
Study resultsP2 Gold Gabbs Project Update
Drilling is underway at the wholly-owned Gabbs gold-copper project on Nevada's Walker Lane Trend, with a reverse circulation rig mobilized October 22, 2025 and 12 of 24 planned holes (4,900 metres) completed at the Sullivan Zone, followed by a 47-hole, 10,000-metre program at Lucky Strike. A diamond rig is mobilizing for 17 geotechnical and metallurgical holes totaling 3,500 metres. Feasibility study contracts have been awarded to six consultants, with studies and drilling expected to finish in the second quarter of 2026. Initial drill results are expected before year-end.
CorporateP2 Gold 2025 PEA Update Delivers Strong Economics and Increased Metal Production
An updated preliminary economic assessment for the wholly-owned Gabbs gold-copper project in Nevada shows an after-tax NPV(5%) of US$2.253 billion and 77.5% IRR at spot prices of US$3,885/oz gold, US$47.92/oz silver and US$4.81/lb copper, with payback under one year. Base case at US$2,350 gold gives NPV(5%) of US$942.9 million and 33.8% IRR. Pre-production capital is US$382.7 million, with life-of-mine production of 1.547 Moz gold, 2.481 Moz silver and 213,000 tonnes copper over 14.2 years.
Study resultsP2 Gold: Gabbs Project Exploration Update
Notices of Extension have been received from the Bureau of Land Management of Nevada for the Sullivan and Lucky Strike Zones, permitting drilling at P2 Gold's wholly-owned Gabbs gold-copper project on the Walker-Lane Trend in Nevada. A reverse circulation drill is being mobilized and drilling is expected to start in mid-October under a planned 4,500-meter program to expand and upgrade Sullivan Zone Inferred Mineral Resources to the Indicated category. The Sullivan Zone hosts approximately 60% of Gabbs Project Mineral Resources.
Drill resultsP2 Gold Announces Closing of Second Tranche of Financing
The second tranche of P2 Gold's non-brokered private placement closed with 25,034,500 units at $0.20 per unit for gross proceeds of $5,006,900, part of an offering of up to 55 million units for up to $11,000,000. Each unit includes one common share and one warrant exercisable at $0.30 for two years, not exercisable for 60 days after issue. Finder's fees of $64,500 and 322,500 warrants were paid. Proceeds will fund exploration and development at the Gabbs Project in Nevada.
FinancingP2 Gold Announces Closing of First Tranche of Financing
The first tranche of P2 Gold's non-brokered private placement closed with 29,965,500 units at $0.20 per unit for gross proceeds of $5,993,100, part of an offering of up to 55 million units for up to $11,000,000. Each unit includes one common share and one warrant exercisable at $0.30 for two years, not exercisable for 60 days after issue; the acceleration provision was removed. Finder's fees of $26,155 and 130,775 warrants were paid, with insiders subscribing for 500,000 units. Proceeds will fund exploration and development at the Gabbs Project in Nevada and general corporate purposes.
FinancingP2 Gold Upsizes Financing
A previously announced non-brokered private placement has been upsized to 55 million units from 30 million units at $0.20 per unit, for gross proceeds of up to $11,000,000, offered under the listed issuer financing exemption. Each unit includes one common share and one warrant exercisable at $0.30 for two years, not exercisable for 60 days after issue, with the acceleration provision removed. Proceeds will fund exploration and development at the Gabbs Project in Nevada and general corporate purposes.
FinancingP2 Gold Announces Financing
A non-brokered private placement of up to 30 million units at $0.20 per unit for gross proceeds of up to $6,000,000 is planned, using the listed issuer financing exemption. Each unit includes one common share and one warrant exercisable at $0.30 for two years, not exercisable for 60 days, with an acceleration right if shares close at $0.50 or more for 10 consecutive trading days. Proceeds will fund exploration and development at the Gabbs Project in Nevada and general corporate purposes.
FinancingP2 Gold Announces Increased Gold, Copper and Silver Recoveries for 2025 PEA Update and Retains Communications Firms
Final Phase Three Metallurgical Program recoveries at the gold-copper Gabbs Project on Nevada's Walker Lane Trend were 88% gold, 63% silver and 69% copper; after a nominal reduction for heap leach application, the 2025 PEA Update will use 85% gold, 60% silver and 67% copper, versus 78%, 45% and 54% in the May 2024 PEA. P2 Gold also retained witan nook Communications for six months from August 5, 2025 at $2,000 per month, and Departures Capital for six months at US$27,500 plus GST.
Study resultsP2 Gold Announces Positive Metallurgical Results with Higher Gold, Silver and Copper Recoveries
Phase 3 metallurgical column tests at the Gabbs gold-copper project in Nevada returned average recoveries after 115 days of leaching of 88.1% gold, 81.6% silver and 66.5% copper, versus the 78% gold, 45% silver and 54% copper recoveries used in the May 2024 Preliminary Economic Assessment. The program, run by Kappes, Cassiday & Associates in Reno, ended at 115 days with copper and silver recoveries still rising; final recoveries will follow. P2 Gold plans to update the 2024 PEA using the revised recoveries.
Study resultsP2 Gold Announces Convertible Debenture Interest Payment
Interest accrued on outstanding convertible debentures will be paid in shares, with P2 Gold electing to issue 303,394 common shares to satisfy $44,239.65 of interest due June 30, 2025, or about 255.06 shares per $1,000 principal amount. At June 30, 2025, $1,189,500 of debentures issued in March 2024 remained outstanding, with $475,500 previously converted into shares. The issuance is subject to TSX Venture Exchange approval and a four-month hold period.
FinancingP2 Gold Announces Positive Interim Metallurgical Results
Interim column leach results after 58 days from the Phase Three metallurgical program at the Gabbs gold-copper project on Nevada's Walker Lane Trend showed average recoveries of 86.6% gold, 73.5% silver and 56.6% copper, versus 59.4%, 40.2% and 28.4% in Phase Two at the same point and 78%, 45% and 54% used in the May 2024 preliminary economic assessment. The program, run by Kappes, Cassiday & Associates in Reno, is expected to continue another 30 to 60 days, with final recoveries announced on completion.
Study resultsP2 Gold Announces Option Grant
Stock options to purchase an aggregate of 1,625,000 common shares have been granted to directors, officers, employees and consultants at an exercise price of $0.11 per share, expiring May 27, 2027. Following the grant, P2 Gold has 6,375,000 options outstanding, representing approximately 4.2% of outstanding common shares. The grant is subject to acceptance by the TSX Venture Exchange.
CorporateP2 Gold Announces Management, Metallurgical Testwork Updates
P2 Gold's senior management team has been retained by Tudor Gold Corp. to support its Treaty Creek gold-copper project in British Columbia's Golden Triangle, while P2 continues advancing its wholly-owned Gabbs gold-copper project in Nevada; senior management and the Board own 23% of issued and outstanding shares. Phase Three metallurgical testwork at Gabbs, run by Kappes, Cassiday & Associates in Reno and due early in the third quarter, shows gold, silver and copper recoveries exceeding prior testwork. At May 9, 2025 spot prices of $3,335 gold, $32.67 silver and $4.30 copper, Gabbs shows a 54.9% IRR and NPV5% over US$1.6 billion.
ManagementP2 Gold Announces Positive Sullivan Zone Sample Assay Results from Gabbs Project; Commences Further Metallurgical Testwork
A 338-kilogram panel sample measuring about 1 metre by 30 metres from the Sullivan Zone at the Gabbs gold-copper project in Nevada assayed 2.029 gpt gold, 15.79 gpt silver and 0.42% copper, while a composited drill core sample returned 0.663 gpt gold, 0.99 gpt silver and 0.34% copper. A Phase Three Metallurgical Program by Kappes, Cassiday & Associates in Reno is underway, column leaching roughly 150 kg and 20 kg of the samples, with initial results expected early in the third quarter.
Drill resultsP2 Gold Makes Final Payment for Acquisition of Gold-Copper Gabbs Project
A final payment of US$100,000 has been made to Waterton Nevada Splitter, LLC, completing P2 Gold's obligations for the acquisition of the gold-copper Gabbs Project on Nevada's Walker Lane Trend. Using the May 22, 2024 preliminary economic assessment and spot prices of $2,909 gold, $32 silver and $4.22 copper, the company states Gabbs has a 43.3% internal rate of return and a US$1.2 billion net present value at a 5% discount rate. Additional metallurgical testing is commencing shortly, with a water permit expected in the second quarter.
AcquisitionP2 Gold Closes the Sale of the Ball Creek Claims (BAM Project)
The sale of the Ball Creek Claims (BAM Project) to Kingfisher Metals Corp. has closed, with P2 Gold receiving 1,515,151 Kingfisher common shares and C$950,000 in cash for the claim transfer. The transaction was first announced on December 5, 2024. Proceeds will fund additional metallurgical test work and permitting of production water wells at the Gabbs Project on the Walker Lane Trend in Nevada.
AcquisitionP2 Gold Announces Convertible Debenture Interest Payment and Conversion Price Increase
Accrued interest of $51,967.42 on $1,374,500 of convertible debentures outstanding at December 31, 2024 will be paid in 822,467 common shares, or about 598.38 shares per $1,000 principal amount, subject to TSX Venture Exchange approval and a four-month hold period. The conversion price on the debentures, issued March 4 and March 14, 2024, rises to $0.10 per share from $0.07 on February 1, 2025. Debentures totalling $290,500 were converted before December 31, 2024.
FinancingP2 Gold Announces Option Grants
Stock options to purchase an aggregate of 625,000 common shares have been granted to directors, officers, employees and consultants of P2 Gold at an exercise price of $0.06 per share, expiring December 30, 2026. Following the grant, the Company has 6,983,333 stock options outstanding, representing approximately 4.7% of outstanding common shares. The grant is subject to acceptance by the TSX Venture Exchange.
Corporate
202421 releases
P2 Gold Announces Sale of Ball Creek (BAM) Claims
A definitive agreement signed December 4, 2024 will sell P2 Gold's Ball Creek Claims (BAM Project) to arm's length Kingfisher Metals Corp. for $1 million cash — $50,000 on signing and $950,000 at closing — plus $250,000 in Kingfisher shares priced at the closing price immediately prior to announcement. Closing is anticipated on or about February 28, 2025, subject to TSX Venture Exchange approval and Kingfisher completing a private placement of at least $1 million. Proceeds will fund metallurgical test work and production water well permitting at the Gabbs Project.
AcquisitionP2 Gold Announces Debt Settlement
Amended agreements with certain insiders will settle $572,500 in shareholder loans, previously provided for working capital, through the issuance of 5,725,000 shares at a deemed price of $0.10 per share. The shares are subject to a four-month hold period expiring March 8, 2025. The settlement is a related party transaction under MI 61-101 but is exempt from minority approval and formal valuation requirements, as neither the debt nor the shares exceed 25% of P2's market capitalization.
CorporateP2 Gold Announces Upsizing and Closing of Final Tranche of Financing
The non-brokered private placement has been upsized to 20 million units from 18 million at $0.05 per unit for gross proceeds of $1 million, and the third and final tranche closed with 5,050,000 units for $252,500. Each unit comprises one common share and one warrant exercisable at $0.10 for two years, subject to acceleration if shares close at $0.20 or more for 10 consecutive trading days. Final tranche securities are subject to a hold period expiring January 17, 2025.
FinancingP2 Gold Announces Closing of Second Tranche of Financing
The second tranche of a non-brokered private placement closed, consisting of 9,950,000 units at $0.05 per unit for gross proceeds of $497,500, part of an offering of up to 18 million units for up to $900,000. Each unit includes one common share and one warrant exercisable at $0.10 for two years, subject to acceleration. Finder's fees of $6,750 were paid; securities are subject to a four-month hold period expiring January 10, 2025. Proceeds will fund exploration and development and general corporate purposes.
FinancingP2 Gold Announces Upsizing and Closing of First Tranche of Financing, Debt Settlement and Option Grant
A non-brokered private placement has been upsized to 18 million units (from 10 million) at $0.05 per unit for gross proceeds of up to $900,000, with a first tranche of 5,000,000 units closed for $250,000, including 5,000,000 units subscribed by insiders. Each unit includes one share and one two-year warrant exercisable at $0.10. P2 Gold also agreed to settle $840,000 in insider shareholder loans for 8,400,000 shares at a deemed $0.10 per share, and granted 1,400,000 options at $0.10 expiring September 3, 2026.
FinancingP2 Gold Announces Financing
A non-brokered private placement of up to 10 million units at $0.05 per unit for gross proceeds of up to $500,000 is planned, with each unit comprising one common share and one two-year warrant exercisable at $0.10, subject to acceleration if shares close at $0.20 or higher for 10 consecutive trading days after four months. Proceeds will fund exploration expenditures and general corporate purposes, with insiders expected to subscribe. Closing is subject to TSX Venture Exchange approval.
FinancingP2 Gold Announces Interest Payment on Convertible Debentures
Interest of $39,747.94 accrued on $1.665 million of convertible debentures issued March 4 and March 14, 2024 and due June 30, 2024 will be settled by issuing 467,605 common shares, approximately 280.84 shares per $1,000 principal amount. The issuance requires TSX Venture Exchange approval and carries a four-month hold period. A director and officer holds debentures, making the payment a related party transaction exempt under MI 61-101.
FinancingP2 Gold Files Gabbs PEA Technical Report
A NI 43-101 technical report for the preliminary economic assessment of the Gabbs Heap Leach and Mill Project in Nye County, Nevada has been filed, with an effective date of May 17, 2024, available on SEDAR and the company website. The report was prepared by independent qualified persons from Kappes, Cassiday & Associates, P&E Mining Consultants and Welsh Hagen Associates. The PEA outlines annual average production of 104,000 ounces gold and 13,500 tonnes copper over a 14.2 year mine life.
Study resultsP2 Gold Announces Interest Payment on Convertible Debentures
Interest of $39,747.94 accrued on the C$1.665 million convertible debentures issued March 4, 2024 and March 14, 2024 will be settled by issuing 467,605 common shares for the payment due June 30, 2024, equal to approximately 280.84 shares per $1,000 principal amount held at the record date. No fractional shares will be delivered, and the issuance is subject to TSX Venture Exchange approval.
FinancingEskay Mining and P2 Gold Agree to Terminate Business Combination and Continue Exploration Services Agreement
The non-binding letter of intent dated June 4, 2024, under which Eskay Mining Corp. would have acquired P2 Gold in a business combination, has been terminated by mutual agreement due to market conditions. The two companies will continue with the concurrent exploration services agreement, under which P2 plans and executes the 2024 exploration program on the Eskay-Corey Property in northwest British Columbia, with exploration crews mobilizing to site this week.
AcquisitionP2 Mobilizes Exploration Crews to Eskay-Corey Property
Exploration crews are mobilizing this week to the Eskay-Corey Property in the Golden Triangle of northwest British Columbia, under an exploration services agreement signed concurrently with the June 4, 2024 business combination agreement between Eskay Mining and P2 Gold. The program is supervised by P2 Chief Exploration Officer Ken McNaughton, with Phase One focused on ground truthing existing geological and geophysical data and developing drill targets for a Phase Two drill program expected this year. Completion of the transaction remains subject to shareholder and TSX Venture Exchange approval.
Drill resultsEskay Mining and P2 Gold Agree to Combine to Focus on Gold and Copper Exploration and Development in the Golden Triangle and Nevada
Eskay Mining will acquire P2 Gold under a non-binding letter of intent dated June 4, 2024, exchanging each diluted P2 share for 0.2778 of an Eskay share, leaving Eskay shareholders with about 80% and P2 shareholders about 20% of the combined company. Joe Ovsenek becomes President and CEO and Mac Balkam becomes Chair, with the Eskay-Corey Property in British Columbia's Golden Triangle the initial exploration focus alongside P2's PEA-stage Gabbs gold-copper project in Nevada. Separately, P2 will convert $1,665,000 of convertible debentures to shares and settle $1,238,524 of insider shareholder loans for 10,321,032 shares at $0.12.
AcquisitionP2 Gold Increases Scale of Gabbs with Annual Average Production of 104,000 Ounces Gold and 13,500 Tonnes Copper Over 14.2 Years in Positive PEA
An updated preliminary economic assessment for the wholly-owned Gabbs gold-copper project in Nevada outlines a 14.2-year mine life producing 1.471 million ounces of gold, 2.058 million ounces of silver and 190 thousand tonnes of copper, averaging 104,000 ounces of gold and 13,500 tonnes of copper annually. At spot prices of US$2,414/oz gold, US$31.48/oz silver and US$4.71/lb copper, after-tax NPV(5%) is US$949.2 million with a 33.5% IRR and 1.7-year payback. Pre-production capital is estimated at US$365.5 million.
Study resultsP2 Gold Increases Inferred Resources at Gabbs by 69%
An updated mineral resource estimate for the wholly-owned Gabbs Project in Nevada reports Indicated resources of 49.8 million tonnes at 0.73 g/t gold equivalent (1.16 million oz AuEq) and Inferred resources of 112.2 million tonnes at 0.63 g/t gold equivalent (2.29 million oz AuEq). The increase reflects lower cut-off grades of 0.27 g/t AuEq for oxide (from 0.28 g/t) and 0.36 g/t AuEq for sulphide (from 0.44 g/t), following updated heap leach and mill operating costs for the 2024 Preliminary Economic Assessment.
Resource updateP2 Gold Announces Option Grants
Stock options to purchase an aggregate of 1,400,000 common shares have been granted to directors, officers, employees and consultants of P2 Gold at an exercise price of $0.08 per share, expiring March 27, 2026. Following the grant, the Company has 8,142,583 stock options outstanding, representing approximately 6.88% of outstanding common shares. The grant is subject to acceptance by the TSX Venture Exchange.
CorporateP2 Gold Gabbs Update
A new preliminary economic assessment for the wholly-owned gold-copper Gabbs Project on Nevada's Walker-Lane Trend is expected in the second quarter of 2024, re-evaluating the September 2023 PEA by assessing inclusion of lower grade mineralized material above the heap leach and mill cutoff grades. The 2024 PEA is expected to comprise a heap leach operation plus a mill starting after initial heap leach capital is repaid, operating in tandem thereafter. Outstanding project debt has been settled.
CorporateP2 Gold Closes Second Tranche of Convertible Debenture Unit Offering
The second and final tranche of a non-brokered private placement of convertible debenture units closed, consisting of 303 Units at $1,000 per Unit for gross proceeds of $303,000, bringing total Offering proceeds to $1,665,000. Each Unit comprises a $1,000 convertible debenture bearing 7.5% interest maturing January 31, 2026, convertible at C$0.07 per share to January 31, 2025 and $0.10 thereafter, plus 12,500 warrants exercisable at $0.15 for 24 months. Insiders subscribed for 85 Units; finder's fees of $11,400 and 171,375 warrants were paid. The majority of proceeds will fund obligations under the Termination Agreement.
FinancingP2 Gold Closes Agreement to Settle Outstanding Debt and Convertible Debenture Unit Offering
An agreement to settle outstanding debt from the Gabbs Project acquisition has closed, along with a first tranche of a non-brokered private placement of convertible debenture units for $1,362,000. Under the termination agreement with Waterton Nevada Splitter, LLC, P2 paid US$1 million and issued 5,231,869 shares at a deemed price of C$0.07, with US$125,000 due on or before January 31, 2025 and US$125,000 by January 31, 2026. Finder's fees of $59,640 and 745,500 warrants were paid.
FinancingP2 Gold Announces Financing Update
Terms have been revised on a previously announced non-brokered private placement of up to 1,700 convertible debenture units at C$1,000 per Unit for up to $1.7 million, subject to TSX Venture Exchange approval. The conversion price is lowered to C$0.07 per share until January 31, 2025 and $0.10 per share to January 31, 2026, with debentures bearing 7.5% interest and maturing January 31, 2026; each Unit includes 12,500 warrants exercisable at $0.15 for 24 months. Most proceeds will fund obligations under the Termination Agreement.
FinancingP2 Gold Announces Agreement to Settle Outstanding Debt and Convertible Debenture Unit Offering
An agreement has been reached with Waterton Nevada Splitter, LLC to settle outstanding debt from the Gabbs Project acquisition, under which P2 Gold will pay US$1 million and issue 5,231,869 common shares following TSXV approval, plus US$125,000 by January 31, 2025 and US$125,000 by January 31, 2026, raising Waterton's holding to 19.9%. A concurrent non-brokered private placement of up to 1,700 convertible debenture units at C$1,000 each, totalling $1.7 million, will bear 7.5% interest and mature January 31, 2026, with conversion at C$0.08 then $0.10 per share.
FinancingP2 Gold Closes First Tranche of Financing
A first tranche of a non-brokered private placement closed for gross proceeds of $500,000, comprising 6,250,000 units at $0.08 per unit, each unit including one common share and one warrant exercisable at $0.15 for two years, subject to acceleration if shares close at or above $0.30 for 10 consecutive trading days. Insiders subscribed for 1,122,500 units, and finder's fees of $9,732 were paid. Proceeds will fund engineering expenditures and general corporate purposes; the hold period expires June 2, 2024.
Financing
20235 releases
P2 Gold Upsizes Financing
A previously announced non-brokered private placement has been upsized to up to 15.7 million units from 6.5 million units at $0.08 per unit, for gross proceeds of up to approximately $1,256,000. Each unit includes one common share and one warrant exercisable at $0.15 for two years, subject to acceleration if shares close at $0.30 or more for 10 consecutive trading days after four months. Proceeds will fund exploration and engineering expenditures and general corporate purposes, with insider participation anticipated.
FinancingP2 Gold Announces Financing
A non-brokered private placement of up to 6.5 million units at $0.08 per unit for gross proceeds of up to $520,000 is planned, with each unit comprising one common share and one two-year warrant exercisable at $0.15, subject to acceleration if shares close at $0.30 or more for 10 consecutive trading days after four months. Proceeds will fund exploration and engineering expenditures and general corporate purposes. Insiders are expected to subscribe, and all securities carry a four-month hold period.
FinancingP2 Gold Files Gabbs Project Technical Report
A NI 43-101 technical report titled "NI 43-101 Technical Report, Preliminary Economic Assessment, Gabbs Heap Leach and Mill Project, Nye County, Nevada, USA", with an effective date of September 7, 2023, has been filed on SEDAR and the company's website. The report was prepared by qualified persons from Kappes, Cassiday & Associates, P&E Mining Consultants Inc. and Welsh Hagen Associates, each independent of P2 Gold.
Study resultsP2 Gold Announces Positive Gabbs Updated Preliminary Economic Assessment with Life of Mine Production of 1.86 Million Gold Equivalent Ounces
An updated Preliminary Economic Assessment for the wholly-owned Gabbs gold-copper project in Nevada shows an after-tax NPV (5%) of US$292.2 million and a 17.0% IRR at spot prices of US$1,918/oz gold, US$23.01/oz silver and US$3.73/lb copper, with LOM revenue of US$3.43 billion over a 13.4-year mine life. Life-of-mine production is estimated at 1.86 million gold equivalent ounces, averaging 139,000 ounces annually, from 79.1 million tonnes grading 0.54 g/t gold, 1.28 g/t silver and 0.27% copper. Pre-production capital is US$277.7 million with a 3.0-year payback.
Study resultsP2 Gold Project Updates: BAM Drilling Results and Gabbs PEA Update
Two drill holes at the BAM gold-copper project in British Columbia's Golden Triangle — BAM-102 to 509.0 metres and BAM-103 to 404.1 metres — did not intersect significant mineralization, though age dating indicates Jan Copper Zone mineralization relates to intrusives dating 321 million years while the Monarch Gold Zone is hosted in Late Triassic rocks younger than 220 million years. An updated PEA on the Gabbs Project in Nevada, contemplating oxide and sulphide processing at six million tonnes per annum versus four million tonnes in the June 29, 2023 PEA, is expected in the coming days.
Drill results
20221 release
P2 Gold Announces Financing
A non-brokered private placement of up to 3.2 million units at $0.63 per unit for gross proceeds of up to approximately $2 million is planned by P2 Gold Inc. (TSX-V:PGLD). Each unit includes one common share and one warrant exercisable at $0.95 for two years, subject to acceleration if shares close at or above $1.90 for 10 consecutive trading days after four months. Proceeds will fund exploration and engineering expenditures and general corporate purposes; insiders are anticipated to subscribe.
Financing