202623 releases
Sterling Expands Mineralized Footprint to 2km With Near Surface Intercept in 850m Eastern Step Out
Sterling Metals reported initial assays from three holes drilled from a new pad about 850m east of its MEPS copper zone at the Soo Copper Project in Ontario, with SC-26-20 returning 206.2m grading 0.28% CuEq from 49.8m to 256.0m. The company says the eastern step-out expands the drilled mineralized footprint to approximately 2km east-west.
Drill resultsSterling Metals Announces Board and Management Changes
Sterling Metals elected Richard Patricio to its board at its annual and special shareholder meeting held October 26, 2026. The company also appointed Albert Contardi as Non-Executive Chairman, replacing Mark Goodman, who will remain a director.
ManagementSterling Extends Higher Grade Core of MEPS Copper Zone Intersecting 44.1m of 1.02% CuEq within 187m Near-Surface Interval of Continuous Copper Mineralization
Drill hole SC-26-27 at the MEPS Zone of the Soo Copper Project near Batchewana Bay, Ontario returned 187.36m grading 0.34% CuEq (0.32% Cu) from 18.64m, including 44.1m at 1.02% CuEq (0.96% Cu) and 18.2m at 2.02% CuEq (1.92% Cu). SC-26-28 intersected 271.0m grading 0.21% CuEq (0.19% Cu) from 24.0m. Sterling has completed 53 holes totalling more than 22,000m in 2026, exceeding its 20,000m minimum program, with drilling continuing.
Drill resultsSterling Extends Core MEPS Copper Zone to 700m; Intersects 200m of 0.53% CuEq Including 102m of 0.81% CuEq
Drill hole SC-26-26 at the MEPS Zone of the Soo Copper Project near Batchewana Bay, Ontario returned 397.19m grading 0.37% CuEq from bedrock to the end of hole, including 200m at 0.53% CuEq, 101.9m at 0.81% CuEq and 13.25m at 1.82% CuEq, collared about 300m west of the MEPS discovery. SC-26-25 returned 128m at 0.31% CuEq, including 16m at 0.98% CuEq. Drilling has delineated a 700m continuous MEPS Copper Zone within a 1,300m by 600m mineralized footprint; assays from SC-26-27 are pending.
Drill resultsSterling Increases Strike of MEPS Discovery to 1.3km and Discovers Molybdenum-Copper Porphyry Stock at Depth
Drill hole SC-26-16 at the MEPS Zone of the Soo Copper Project near Batchewana Bay, Ontario returned 450.92 m grading 0.30% CuEq from the top of bedrock, including 101 m at 0.50% CuEq and 12 m at 1.70% CuEq. Results from SC-26-14 to SC-26-17 extend the MEPS strike by 300 m to over 1.3 km. SC-26-16 intersected a mineralized granite porphyry stock at 301 m downhole grading 0.32% CuEq over 162 m, with molybdenum up to 2,080 ppm.
Drill resultsSterling Metals Completes Acquisition of QcX Gold Corp.
The acquisition of QcX Gold Corp. by Sterling Metals closed via a court-approved plan of arrangement, with QcX holders receiving one Sterling share for every 4.81026 QcX shares at an exchange ratio of 0.20789, resulting in 4,922,249 Sterling shares issued, plus 1,649,399 warrants and 299,361 options. Existing Sterling and QcX shareholders hold approximately 90.4% and 9.6% respectively. QcX shares are expected to be delisted from the TSXV around September 1, 2026. Albert Contardi joins Sterling's board. The combined land package exceeds 35,000 hectares across the Batchewana Copper Belt in northern Ontario.
AcquisitionSterling Metals Announces Approval of Arrangement by QcX Gold Shareholders
QcX Gold Corp. shareholders approved the previously announced plan of arrangement with Sterling Metals at a meeting held August 18, 2026. Closing remains subject to customary conditions, including stock exchange and regulatory approvals, with completion expected on or around August 25, 2026. Sterling also entered an access agreement dated August 17, 2026 with an arm's length owner for exploration access to mineral claims in Ontario, paying 210,000 common shares and 250,000 warrants exercisable at $1.23 for two years.
AcquisitionSterling Expands High-Grade Copper Mineralization East at MEPS Intersecting 203 Metres at 0.51% CuEq: Includes 16.25 Metres at 2.31% CuEq and 9.50 Metres at 2.34% CuEq within 445 Metres at 0.40% CuEq
Drill hole SC-26-13 at the MEPS Zone of the Soo Copper Project near Batchewana Bay, Ontario returned 445.0m grading 0.40% CuEq from 22m depth, including 203.10m at 0.51% CuEq, 9.50m at 2.34% CuEq from 74m and 16.25m at 2.31% CuEq from 176m, plus 7.4m at 1.49% CuEq from 459m. The hole, collared 140m east of SC-26-10, extends higher-grade mineralization about 100m farther east. 38 holes totalling 17,250m have been completed of the minimum 20,000m program.
Drill resultsSterling Drills Molybdenum Rich Breccia Below MEPS Discovery Intersecting 57 m of 0.81% CuEq Within a Near-Surface 358 m of 0.50% CuEq Including 8.5 m of 4.74% CuEq
Drilling at the MEPS Zone of the Soo Copper Project near Batchewana Bay, Ontario returned 497.55 m grading 0.41% CuEq from 4.0 m in hole SC-26-10, including 358 m at 0.50% CuEq and 8.50 m at 4.74% CuEq. The same hole cut a molybdenite-rich breccia below the copper zone, 57 m grading 0.81% CuEq (1,077 ppm Mo). SC-26-11 returned 317.2 m at 0.25% CuEq and SC-26-12 returned 477 m at 0.23% CuEq. Roughly 16,000 m of a minimum 20,000 m program is complete.
Drill resultsSterling Metals Continues to Intersect Continuous Copper Mineralization from Surface
Three drill holes at the Soo Copper Project near Batchewana Bay, Ontario intersected near-surface copper: SC-26-07 returned 247.0 m grading 0.34% CuEq from 7.0 m, SC-26-08 returned 291.3 m at 0.32% CuEq from 37.7 m, and SC-26-09 returned 305.1 m at 0.31% CuEq from 3.0 m, testing the northwest and west extents of the MEPS Zone. Drilling continues, with about 15,000 m completed of a minimum 20,000 m 2026 program, now on the 30th hole.
Drill resultsSterling Metals Expands Soo Copper Footprint of Broad Near-Surface Copper Mineralization
Assay results from the first six holes of the 2026 drilling program at the Soo Copper Project near Batchewana Bay, Ontario returned 503.9m of 0.26% CuEq (0.14% Cu, 0.05 g/t Au, 0.64 g/t Ag, 177.4 ppm Mo) from 3.1m depth in SC-26-04, 289.5m of 0.26% CuEq from 3.5m in SC-26-05, and 214.5m of 0.29% CuEq from 3.0m in SC-26-06, including 10.5m of 1.01% CuEq from 207.0m. A copper-bearing multi-phase porphyry stock was intersected across a 1.4-kilometre corridor, with a new higher-grade molybdenum zone at depth.
Drill resultsSterling Metals Consolidates Ontario’s Newest Emerging Copper District Through Acquisition of QCX Gold
Sterling Metals will acquire all issued and outstanding securities of QcX Gold by court-approved plan of arrangement under a June 1, 2026 agreement, issuing one Sterling share for every 4.81026 QcX shares, implying $0.25666 per QcX share and roughly 4,701,788 Sterling shares. Sterling and QcX shareholders would hold about 90.75% and 9.25% of the combined company, which would hold over 35,000 hectares in Ontario's Batchewana Copper Belt. The QcX shareholder meeting is expected in late July 2026, with closing shortly thereafter.
AcquisitionSterling Metals Provides Corporate Update
Approximately 6,200 metres across 9 holes have been completed of a minimum 20,000 metre drill program at the Soo Copper Project near Sault Ste. Marie, Ontario, with initial assays expected in May 2026; drilling intercepted a Cu-Mo mineralized multiphase porphyry stock beneath the MEPS Discovery zone. Sterling has moved into a 6.5-acre operations base, engaged GeologicAI for core scanning and VRIFY for AI-assisted targeting, and closed the sale of its Sail Pond Project. Treasury stands at approximately $10.5 million.
CorporateSterling Metals Announces Sale Of Sail Pond Project
A purchase agreement dated March 17, 2026 has been signed with an arm's length purchaser for the sale of a 100% interest in the Sail Pond project. As consideration, the purchaser will issue 96,078 of its common shares to Sterling Metals. Completion remains subject to regulatory approvals, including TSX Venture Exchange approval, with securities issued subject to a four month and one day statutory hold period.
AcquisitionSterling Metals Intersects 235.5m at 0.42% Cu and 0.042 g/t Au including 32.75m at 1.31% Cu and 0.11 g/t Au and Discovers New Bornite-Covellite Zone
Final assays from five holes in the completed 2025 drill program at the Soo Copper Project near Batchewana Bay, Ontario returned 235.5m at 0.42% Cu and 0.042 g/t Au from 85.5m in MEPS-25-20, including 32.75m at 1.31% Cu and 0.11 g/t Au from 194m. MEPS-25-22 ended in bornite-covellite quartz veining, with its final 11.95m grading 1.51% CuEq, 120m from the original bornite discovery. A second drill rig is scheduled to mobilize in June along the 8km copper corridor.
Drill resultsSterling Metals Discovers Cu-Mo Porphyry Stock 1.5km from MEPS Discovery Zone Confirming Scale of Porphyry Copper System
The first hole of the 2026 drill program at the Soo Copper Project in Ontario, SC-26-01, intersected a felsic porphyry stock over more than 400m, starting at about 530m vertical depth and continuing at roughly 1,000m depth, with disseminated and vein-hosted chalcopyrite, bornite and molybdenite plus potassic alteration. The stock lies about 1.5km from the MEPS Discovery, where hole MEPS-25-02 returned 265.5m of 1.05% CuEq including 68.3m of 3.25% CuEq. Assays are not expected for some time; the next hole will test the eastern edge of the same ZTEM anomaly.
Drill resultsSterling Metals Expands MEPS Discovery Confirming 400m of East-West Strike
Six additional drill holes from the completed 2025 program at the Soo Copper Project near Batchewana Bay, Ontario, confirm continuous copper mineralization from surface across approximately 400m of east-west strike in the MEPS zone. MEPS-25-18 returned 38.9% Cu over 0.3m at 227.4m, within 24m at 2.05% CuEq and a broader 237.2m at 0.5% CuEq, while MEPS-25-16 returned 13.55m at 2.04% CuEq from 96.35m. Assays are pending for the final 5 holes.
Drill resultsSterling Metals Commences 2026 Drill Campaign at Soo Copper, Ontario
A minimum 20,000-metre drill campaign has begun at the Soo Copper Project, located one hour north of Sault Ste. Marie near Batchawana Bay, Ontario. The winter portion will test larger-scale targets along strike and below the MEPS discovery area, with the program focused on delineating the MEPS discovery's scale and testing targets from surface copper occurrences and geophysical data. Sterling said it is working with the laboratory to resolve assay backlogs on outstanding holes.
Drill resultsSterling Metals Named to 2026 TSX Venture 50™ List of Top Performing Companies
Sterling Metals has been named to the 2026 TSX Venture 50 list, ranking 31st overall among the 50 companies recognized and placing among top performers in the mining sector. The Company reported a 520% share price increase and 984% market capitalization growth in 2025, compared with an average share price appreciation of 431% across the ranked companies. Sterling is advancing the 25,000-hectare Soo Copper Project in Ontario and the 29,000-hectare Adeline Project in Labrador.
CorporateSterling Metals Expands Bornite Zone within Large Porphyry Copper System
Drilling at the Soo Copper Project near Batchewana Bay, Ontario returned 300.5m of 0.4% CuEq from 131.6m in MEPS-25-12, including 50m of 0.92% CuEq from 315.5m and 10.0m of 2.42% CuEq from 343.0m, and 279.5m of 0.31% CuEq from 135.2m in MEPS-25-11, including 11.4m of 1.69% CuEq from 344.1m. MEPS-25-01 extended copper mineralization about 300m south. Results cover 17 of 33 holes (6,267m) completed in 2025, with 12 assays pending; winter drilling begins next month.
Drill results
202520 releases
Sterling Metals Provides Year End Update to Stakeholders
A year-end letter from CEO Mathew Wilson reports approximately 11 kilometres of drilling completed in 2025 at the Soo Copper Project in Batchewana Bay, Ontario, including a high-grade bornite zone with copper and locally high-grade nuggety gold values, and surface prospecting identifying a 6-kilometre copper trend. Remaining drill assays from the MEPS area are expected in early 2026. Plans include a minimum 20-km drill program targeted to begin in February, ground geophysics at Gimlet and expanded ZTEM coverage. Dr. Neil O'Brien was appointed Chief Geologist in October.
CorporateSterling Metals Announces Closing of Private Placement to Accelerate Advancement of the Soo Copper Project
A non-brokered private placement closed for aggregate gross proceeds of $14,000,098.10, through 5,244,517 units at $1.50 and 2,666,662 charity flow-through units at $2.30, each including one-half warrant exercisable at $3.00 for two years. Charity flow-through proceeds of $6.2 million will fund Canadian exploration expenses at the Soo Copper Project in Ontario, with about $15 million in treasury. Insiders subscribed for 186,667 units; a cash commission of $58,199.88 was paid. This year's summer–fall program included 29 holes totaling approximately 11,000 metres, bringing 2025 drilling to over 13,000 metres, with assays expected in coming weeks and drilling resuming in early February.
FinancingSterling Metals Announces Upsize of Private Placement of Units and Flow-Through Units
A non-brokered private placement has been upsized to up to 5,244,452 units at $1.50 per unit and up to 2,666,662 charity flow-through units at $2.30 each, for aggregate gross proceeds of up to $14,000,000.60. Each unit and charity FT unit includes one common share and one-half warrant exercisable at $3.00 for two years from closing. Unit proceeds go to general working capital and charity FT proceeds to Canadian exploration expenses; insiders are expected to participate.
FinancingSterling Metals Announces Fully Allocated Private Placement of Units and Charity Flow Through Units
A non-brokered private placement of up to 3,088,888 units at $1.50 per unit and up to 2,333,334 charity flow-through units at $2.30 each will raise aggregate gross proceeds of up to $10,000,000.20. Each unit and charity FT unit includes one common share and one-half warrant exercisable at $3.00 for two years from closing. Unit proceeds are for general working capital and charity FT proceeds for Canadian exploration expenses; insiders are expected to participate, with a 6% cash commission payable and TSXV approval required.
FinancingSterling Metals Summer Field Program Discovers Bornite in Outcrop Across a 6km Corridor and Appoints Dr. Neil O’Brien as Chief Geologist
Surface mapping and sampling at the Soo Copper Project near Sault Ste. Marie, Ontario identified chalcopyrite and bornite over a corridor now exceeding 6km, with 1,323 new soil samples yielding 122 new copper samples (assays pending) and 93 copper-bearing samples, including 38 with bornite, across a 2km Gimlet Target Area more than 2km from drill hole MEPS-25-02. Reprocessed 2014 ZTEM data shows a 10km circular anomaly. Dr. Neil O'Brien was appointed Chief Geologist, the drill program was expanded from a minimum of 3,000m to 6,000m, and 1,300,000 RSUs were granted.
Drill resultsSterling Metals Announces High-Grade Copper Discovery at the Soo Copper Project Intersecting 262.5m of 1.05% CuEq, Including 68.3m of 3.25% CuEq and 9.3m of 19.8% CuEq from Near Surface
Drill hole MEPS-25-02 at the Soo Copper Project in Batchewana Bay, Ontario intersected 262.5m of 1.05% CuEq from 47.5m downhole, including 68.28m of 3.25% CuEq from 179.72m and 9.15m of 19.81% CuEq, with 21.3% Cu and 196 g/t Au over 0.6m from 219.85m. The hole, part of the Phase 2 program, returned bornite mineralization from 24m to 350m downhole and no pyrite or pyrrhotite in the reported section. Phase 2 drilling has been expanded from a minimum of 3,000m to at least 6,000m.
Drill resultsSterling Metals Announces Exploration Agreement With Garden River First Nation
An exploration agreement dated September 8, 2025 has been signed with Garden River First Nation covering the 100%-owned Soo Copper project in Batchewana Bay, Ontario, and any additional claims Sterling acquires within GRFN traditional territory; Sterling will issue 210,000 common shares on execution, subject to a four-month-plus-a-day hold period and TSX Venture Exchange approval. Sterling also entered investor relations agreements with Plutus Invest & Consulting GmbH (€125,000 media budget plus up to €250,000 in fees, twelve months from September 22, 2025) and NIA (USD$50,000, six months).
CorporateSterling Metals Commences Phase 2 Drilling and Provides Exploration Update at the Soo Copper Project
A Phase 2 drill program of 3,000 to 5,000 metres has begun at the 100%-owned Soo Copper Project at Batchewana Bay, Ontario, testing four target areas including the down-dip extension of the GFP porphyry dyke swarm, where Phase 1 hole MJ-01 returned 359.6m of 0.26% Cu, 0.011% Mo, 0.05g/t Au and 1.4g/t Ag, and the depth extension of the Richards Breccia. Three field teams extended the copper-in-soil anomaly southwest to over 5km and found bornite and chalcopyrite in outcrop about 3km from the drill area; 2,400 soil samples are planned this summer.
Drill resultsSterling Metals Announces Closing of Private Placement of Units and Flow-Through Shares
A non-brokered private placement has closed, comprising 3,193,445 flow-through shares at $0.42 each and 3,310,723 units at $0.35 each for aggregate gross proceeds of up to $2,500,000. Each unit includes one common share and half a warrant exercisable at $0.50 for two years. Finders received $69,324.97 in cash commissions and 167,915 broker warrants at $0.50; flow-through proceeds will fund Canadian exploration expenses and unit proceeds general working capital.
FinancingSterling Metals Announces Upsize of Private Placement of Units and Flow-Through Shares
A non-brokered private placement has been upsized to up to 3,193,445 flow-through shares at $0.42 each and up to 3,310,723 units at $0.35 each, for aggregate gross proceeds of up to $2,500,000. Each unit includes one common share and one-half warrant exercisable at $0.50 for two years from closing. Unit proceeds are for general working capital, while flow-through proceeds will fund Canadian exploration expenses; closing is subject to TSX Venture Exchange approval.
FinancingSterling Metals Announces Private Placement of Units and Flow-Through Shares
A non-brokered private placement of units at $0.35 per unit and flow-through shares at $0.42 per FT share for aggregate gross proceeds of up to $1,000,000. Each unit includes one common share and one-half warrant exercisable at $0.50 for two years from closing. Finders may receive a 6% cash commission and broker warrants equal to 6% of securities issued; FT proceeds will fund Canadian exploration expenses, with unit proceeds for general working capital.
FinancingSterling Metals Intercepts Porphyry Copper in Final Three Holes of the Drill Program at Soo Copper
Results from the final three holes of a four-hole, 1,789 metre maiden diamond drill program at the 25,000-hectare Soo Copper Project in Batchewana Bay, Ontario, returned 107.5m grading 0.31% CuEq in CH-25-01, including 30.3m at 0.74% CuEq; 198m at 0.30% CuEq within 392m at 0.25% CuEq in MJ-25-02; and 120m at 0.30% CuEq in MJ-25-03. The mineralized structural corridor has been traced over 1km of strike and more than 300m vertically from surface. A next drill program is anticipated to commence within eight weeks.
Drill resultsSterling Metals Intersects 359.3m of 0.36% CuEq from Near Surface with Multiple Zones of Bornite Across Preserved Porphyry Copper Deposit in its First Drill Hole at the Newly Renamed Soo Copper Project
Hole MJ-25-01, the first of four diamond drill holes at the Soo Copper Project (formerly Copper Road) in Batchewana Bay, Ontario, returned 0.36% CuEq over 359.3m from 14.3m, including 0.56% CuEq over 75.2m, with the entire hole from 13.3m to 496.0m grading 0.28% CuEq over 482.8m. Bornite intervals included 0.43% CuEq over 40.4m from 249.6m and 0.56% CuEq over 26.5m from 347.0m. The program totalled 1,789 metres; assays for the remaining three holes are pending.
Drill resultsSterling Metals Commences Inaugural Drilling Program at Copper Road Project, Ontario
A fully funded minimum 2,000-metre diamond drill program has begun at the 25,000-hectare Copper Road Project in Ontario, running until the end of April and testing four priority targets across a 2.5km x 1.5km x 1.5km area in the central corridor. The Company received a $200,000 grant from the Ontario Junior Exploration Program to support the drilling. It also granted 2,430,000 stock options exercisable at $0.40 for two years.
Drill resultsSterling Metals Announces Closing of Private Placement of Units
A non-brokered private placement of 6,082,000 units at $0.25 per unit closed for gross proceeds of $1,520,500, with each unit comprising one common share and one-half warrant exercisable at $0.40 for two years. Finders received a cash commission of $8,250 and 33,000 broker warrants at $0.40 for two years. Insiders subscribed for 400,000 units. Net proceeds will be used for general working capital purposes.
FinancingSterling Metals Announces Further Upsize to Private Placement of Units
The non-brokered private placement has been increased to up to 6,400,000 units at $0.25 per unit for gross proceeds of up to $1,600,000. Each unit includes one common share and one-half warrant exercisable at $0.40 for two years from closing. Finders may receive a 6% cash commission and broker warrants equal to 6% of units issued; net proceeds are for general working capital, with closing subject to TSX Venture Exchange approval.
FinancingSterling Metals Announces Upsize to Private Placement of Units
A previously announced non-brokered private placement has been upsized to up to 5,200,000 units at $0.25 per unit for gross proceeds of up to $1,300,000, with each unit comprising one common share and one-half warrant exercisable at $0.40 for two years from closing. Finders may receive a 6% cash commission and broker warrants equal to 6% of units issued. Net proceeds are for general working capital, with closing expected by the end of March, subject to TSX Venture Exchange approval.
FinancingSterling Metals Announces Private Placement of Units
A non-brokered private placement of up to 4,000,000 units at $0.25 per unit for gross proceeds of up to $1,000,000, with each unit comprising one common share and one-half warrant exercisable at $0.40 for two years from closing. Finders may receive a 6% cash commission and broker warrants equal to 6% of the units issued, exercisable at $0.40 for two years. Net proceeds will be used for general working capital, subject to TSX Venture Exchange approval.
FinancingSterling Metals Announces Consolidation and Corporate Update
A ten-for-one share consolidation has been implemented via filed articles of amendment, approved by shareholders at the July 10, 2024 meeting, leaving approximately 24,838,793 common shares outstanding. Consolidated trading on the TSX Venture Exchange is expected to begin on or about February 24, 2025 under a new CUSIP (85941M880 / ISIN CA85941M8806). Drilling of a minimum 2,000 metres of diamond drilling at the Copper Road Project in Ontario is set to begin in mid-March, targeting copper porphyry potential.
CorporateSterling Metals Maiden Exploration Program Delivers Multiple New Drill-Ready Copper Targets Following Successful 3D IP Survey at Copper Road
A 3D induced polarization and resistivity survey covering 5km by 3km at the Copper Road Project in Ontario has been completed, identifying multiple chargeable bodies at or near surface plus resistivity lows correlating with copper in historical drill holes and outcrops. Initial drill targeting has been narrowed to a high-priority area of approximately 2.5km x 1.5km x 1.5km aligned with a ZTEM anomaly. Sterling Metals is designing its initial drill campaign to test near-surface copper zones and a possible deeper porphyry center.
Drill results
202411 releases
Sterling Metals Completes 3D IP Survey at Copper Road, Discovers New Outcrop Areas and Extends Mineralized Footprint
A 5km x 3km, 15 square kilometre 3D induced polarization survey has been completed by Dias Geophysical over the central Copper Road Project in Ontario, with final data and 3D inversion expected in December. New copper sulphide outcrops were found southwest of Richards Breccia, including sample SCFS-24-144A with 10cm of massive sulphide veining, and field mapping extended the porphyry footprint from 2km to 3km. Of 134 total surface grab samples, 52 are at the lab; a high-resolution drone magnetic survey is commencing.
Drill resultsSterling Metals Provides Exploration Update for Copper Road, Including up to 15.9% Copper and 4.84% Molybdenum in Surface Grab Samples
Surface grab sampling at the Copper Road Project, 80km north of Sault Ste. Marie, Ontario, returned up to 15.90% Cu and, in a separate sample, 1.74% Cu with 4.84% Mo and 3.04 g/t rhenium, with copper averaging 1.96% across 31 samples; one hydrothermal magnetite-sulphide vein sample graded 15.44% Cu, 54 g/t Ag and 1.34 g/t Au. Phase 1 work defined a 5 x 5km priority area and a ~2km mineralized footprint, and 1,822 soil samples were collected over 23km². A 5km x 3km 3D IP survey covering 15km² is underway to define drill targets.
Drill resultsSterling Metals Announces Closing of Private Placement of Flow-Through Shares
A non-brokered private placement of 15,835,996 flow-through common shares at $0.065 per share closed for aggregate gross proceeds of $1,029,339.74. Finders received a cash commission of $63,838.23, equal to 7% of gross proceeds delivered by them, plus 982,126 broker warrants exercisable at $0.065 for one year. Insiders subscribed for 846,000 FT Shares, making the offering a related party transaction; proceeds will fund Canadian exploration expenses qualifying as flow-through mining expenditures.
FinancingSterling Metals Provides Update on its Phase 1 Exploration Campaign at the Copper Road Project
Phase 1 exploration work in July at the 25,000-hectare Copper Road copper-molybdenum-silver-gold project, 80 km north of Sault Ste. Marie, Ontario, included 1,200 surface soil samples showing copper-molybdenum anomalies, inversion of a property-wide 3,777-line-kilometre airborne magnetic survey, modeling of historical airborne EM data, and a new 10 cm resolution LiDAR survey that identified 483 pits, 227 trenches, 12 adits and 10 shafts. Over 200,000 pages of historical documents from the last 60 years were digitized. Soil sampling is being extended northwest of Richards Breccia and northeast toward the Tribag mine, with outcrop samples submitted for assay ahead of a maiden drill campaign.
Drill resultsSterling Metals Advances Inaugural Field Exploration Campaign at the Copper Road Project
The Phase 1 exploration campaign is underway at the 25,000-hectare Copper Road copper-molybdenum-silver-gold project, 80 km north of Sault Ste. Marie, Ontario. Work completed in May and June, ahead of schedule, includes a property-wide 3,777-line-kilometre airborne magnetic, radiometric and LiDAR survey, physical property testing, and the start of a minimum 5,000-sample surface program. Advanced modeling of the existing VTEM survey to extract airborne IP chargeability data is expected to be completed by early July 2024.
Drill resultsSterling Metals Exercises Option to Acquire 100% of the Adeline Project in Labrador and Provides Exploration Update
Sterling Metals has exercised its option under a March 6, 2023 agreement with Chesterfield Resource Plc to acquire 100% of the Adeline Copper-Silver Project in Labrador, with the sale to close by June 30, 2024 for CAD$200,000 cash and 8,500,000 common shares, leaving Chesterfield with 12,692,000 shares, or 5.46% of the Company. A December 2023 inaugural 11-hole drill program saw 10 holes intersect copper mineralization. ALS GoldSpot Discoveries has been retained for a remote sensing and targeting study over 687km².
AcquisitionSterling Metals Announces Mark Goodman as Chairman and Provides Corporate Update
Mark Goodman has been appointed Chairman of the board of Sterling Metals, effective immediately, replacing Richard Patricio, who remains as an advisor. Goodman joined as part of the Copper Road Resources Inc. transaction announced May 10, 2024, under which 86,249,546 Consideration Shares have now been distributed pro rata to Copper Road shareholders of record. Sterling is developing its first work program for the 24,000-hectare Copper Road Project in Ontario and expects to provide an update.
ManagementSterling Metals Completes Acquisition of the Copper Road Project in Ontario
The acquisition of the 24,000-hectare Copper Road Project, located 80km north of Sault Ste. Marie, Ontario, has closed via the purchase of 100797918 Ontario Inc., a wholly-owned subsidiary of Copper Road Resources Inc. Consideration was 108,087,669 common shares, of which 86,249,546 will be distributed pro rata to Copper Road shareholders of record as of May 8, 2024, plus $460,000 in cash. A finder's fee of $20,000 and 2,064,841 shares is payable to Castlewood Capital Corporation. A Phase I exploration program is planned in the coming weeks.
AcquisitionCopper Road Resources Shareholders Approve Transaction with Sterling Metals
Copper Road Resources shareholders approved the previously announced transaction with Sterling Metals at a special meeting held April 30, 2024, with approximately 90.88% of votes cast in favour of each resolution. The deal involves Sterling acquiring all shares of Copper Road's wholly-owned subsidiary 1000797918 Ontario Inc., holding the East Breccia, Tribag and Coppercorp-Glenrock Gold properties totalling 1,167 mineral claims in the Batchewana Bay Region of Ontario. Closing remains subject to exchange and regulatory approvals and is expected in May 2024.
NewsSterling Metals Provides Update on its Acquisition of the Copper Road Project in Ontario
Trading in Sterling Metals common shares will resume on the TSX Venture Exchange at market open on or about March 1, 2024, following the halt tied to its announced acquisition of the Copper Road Project in Ontario. Under the definitive share purchase agreement, Sterling will acquire 100% of the approximately 25,000-hectare project for Consideration Shares equal to 49% of its issued and outstanding shares plus $460,000 in cash ($200,000 on execution, $260,000 at closing). Phase 1 exploration will include data compilation, airborne magnetic and Lidar surveys, and outcrop sampling and trenching.
AcquisitionSterling Metals Signs Definitive Agreement to Acquire the Copper Road Project in Ontario
A definitive share purchase agreement dated February 13, 2024 will give Sterling Metals 100% of the 24,000ha Copper Road copper-moly-silver-gold project, 80km north of Sault Ste. Marie, Ontario, from Copper Road Resources, for shares equal to 49% of Sterling's post-closing shares plus $460,000 cash ($200,000 on execution, $260,000 on closing). Closing requires TSXV and Copper Road shareholder approvals. Sterling was also selected for a Newfoundland and Labrador Junior Exploration Assistance grant, amount to be determined.
Acquisition