202618 releases
Perseverance Metals Increases Land Holdings on the Voyageur Ni-Cu-PGE Project, Michigan
Perseverance Metals has entered into an option agreement dated October 23, 2026 to acquire 240 acres of mineral rights in Houghton County, Michigan, adjoining its Voyageur Project in the Upper Peninsula. The option requires cash and share payments over six years, with a 3% net smelter return royalty on exercise, and is subject to TSX Venture Exchange acceptance.
CorporatePerseverance Metals Closes $11.8M Non-Brokered Private Placement
A non-brokered private placement of 18,121,426 common shares at $0.65 per share closed for gross proceeds of $11,778,926.90, with participation from Teck Resources Limited, Altius Minerals Corp., Crescat Capital and NQIM, and insiders purchasing 92,300 shares. Proceeds will fund the ongoing diamond drill campaign at the Voyageur project in Michigan's Upper Peninsula, exploration at Lac Gayot in Québec and Armit Lake in Ontario, and general corporate purposes. The Company paid $42,543 in finder's commissions and issued 65,450 finder's warrants exercisable at $0.65 for 24 months; final TSXV approval is pending.
FinancingPerseverance Metals Upsizes Private Placement Financing to up to C$10,000,000
A previously announced private placement has been increased from C$8,000,005 to up to C$10,000,250, consisting of common shares priced at C$0.65 per share. Proceeds will fund the ongoing diamond drill campaign at the Voyageur project in Michigan's Upper Peninsula, continued exploration at the Lac Gayot project in Québec, and general corporate purposes. Completion is targeted for early October 2026, subject to TSX Venture Exchange approval, with a four month and one day hold period; finder's fees may be paid.
FinancingPerseverance Metals Announces C$8 Million Private Placement Financing
A non-brokered private placement of up to C$8,000,005 in common shares priced at C$0.65 per share will be completed by Perseverance Metals Inc. (TSXV: PMI), with closing targeted for early October 2026 and subject to TSX Venture Exchange approval. Proceeds are intended to fund the ongoing diamond drill campaign at the Voyageur project in Michigan's Upper Peninsula, continued exploration at the Lac Gayot project in Québec, and general corporate purposes. Insiders may participate, and finder's fees may be paid.
FinancingPerseverance Metals Discovers a Ni-Cu Sulphide-Bearing Mafic-Ultramafic Intrusion at the Voyageur Project, Michigan
A near-surface, nickel- and copper sulphide-bearing mafic-ultramafic intrusion has been discovered at the Osprey target on the Voyageur Project in Michigan's Upper Peninsula, about 65 km west of the Eagle mine. Three of four diamond drill holes testing a blind geophysical target intersected the intrusion, documented at up to 50 metres thick across three phases, with a basal coarse-grained peridotite locally containing 3-8% magmatic sulphides. Assays, geochemistry and petrography are pending; the drill rig has moved to Target 2.
Drill resultsPerseverance Metals Launches Summer 2026 Drill Program at the Lac Gayot Project, Québec
A minimum 5,000 metre summer drill program has commenced at the Lac Gayot Ni-Cu-Co-PGE project in Québec's James Bay region, targeting the Baseline, Nasique, Macaque, Babouin and other zones along the six-kilometre Venus East Trend, plus new surface zones found by prospecting and EM anomalies. At the Voyageur project in Michigan, drilling was delayed by equipment delivery but the rig is mobilized and the first target is to be tested this week. The Company also issued 75,000 stock options to a Director at $0.65 per share, vesting over 36 months and expiring in 60 months.
Drill resultsPerseverance Metals Appoints Isabelle Cadieux as Independent Director
Isabelle Cadieux has been appointed an Independent Director of Perseverance Metals Inc. (TSXV: PMI), effective immediately. Cadieux, a Professional Geologist in Québec, has over 35 years of experience in mineral exploration and mining in technical and financial roles, including more than 20 years as Managing Director, Investment at SIDEX, and previous positions with AGIP Canada, AREVA S.A. and Channel Resources. She holds an M.Sc. in Mineral Exploration from McGill University and a B.Sc. in Geology from the University of Ottawa.
ManagementPerseverance Metals Commences its Inaugural Drill Program on the Voyageur Ni-Cu-Co-PGE Project, Upper Peninsula, Michigan USA
An inaugural diamond drill program has begun on the Voyageur Ni-Cu-Co-PGE project in Michigan's Upper Peninsula, 70 km west of Talon Metals' Eagle mine, with the initial phase designed for approximately 2,000 metres testing up to four priority targets, including the ~1 km long Osprey magnetic-gravity anomaly. The drill is mobilizing to site and drilling is anticipated to start the week of June 8. A previously announced airborne gravity survey is now expected to begin early this summer.
Drill resultsPerseverance Metals Prepares for 2026 Drill Programs with Large-Scale Geophysical Surveys at the Lac Gayot Project, Quebec and Voyageur Project, Michigan
A property-wide airborne gravity gradiometry survey by Xcalibur Smart Mapping using the FALCON fixed-wing system is planned to begin in the coming weeks at the Voyageur Ni-Cu-Co-PGE project in Michigan's Upper Peninsula, with drilling of up to four priority targets expected to start in May. A moving loop ground TDEM survey by Géophysique TMC has commenced over the Venus East Trend at the Lac Gayot project in Quebec, ahead of drilling expected in early July 2026. The company also corrected finder's warrant and commission figures from its March 10 and March 23, 2026 private placement releases.
Drill resultsPerseverance Metals Issues Incentive Stock Options
An aggregate of 1,775,000 incentive stock options have been issued at an exercise price of $0.65 per share to certain officers, directors, advisors, employees and consultants under Perseverance Metals' Long-Term Incentive Plan. The options vest over 36 months and expire 60 months from the date of issuance. The issuance follows the annual compensation review by the Company's Governance and Nominating Committee in December 2025.
CorporatePerseverance Metals Closes $4.7M Second and Final Tranche of Private Placement for Total Gross Proceeds of $8.2M
The second and final tranche of a non-brokered private placement closed for gross proceeds of $4,715,503, bringing total proceeds from the placement to $8,215,490 including the $3,499,987 first tranche closed March 10, 2026. The tranche comprised 4,623,042 Québec flow-through units at C$1.02, each with one share and half a warrant exercisable at $0.95 for 36 months, with investors including Teck Resources, NQ Investissement Minier and Altius Minerals. Proceeds fund Canadian exploration expenses at the Lac Gayot Project in Québec.
FinancingPerseverance Metals Closes $3,500,000 First Tranche of Private Placement and Announces Upsize of Second Tranche to over $4,700,000
The first tranche of a non-brokered private placement closed for gross proceeds of $3,499,987, comprising 4,615,385 hard dollar units at $0.65 and 641,008 Ontario flow-through units at $0.78, with each unit including a half warrant exercisable at $0.95 for 36 months. Cash commissions of $148,430 and 212,969 finder's warrants were paid. The second tranche of Québec flow-through units was upsized to 4,623,042 units at $1.02, for up to $4,715,503, expected to close around March 23, 2026, bringing total proceeds to $8,215,490. Proceeds will fund drilling at Voyageur in Michigan, exploration at Lac Gayot in Québec and Armit Lake in Ontario.
FinancingPerseverance Metals Upsizes Private Placement to up to C$7,500,000
A previously announced private placement has been increased from C$3,500,000 to up to C$7,500,000, comprising up to 4,615,385 hard dollar units at C$0.65, up to 641,026 Ontario flow-through units at C$0.78, and up to 3,921,569 Québec flow-through units at C$1.02, each unit including one share and a half warrant exercisable at C$0.95 for 36 months. Teck Resources and NQ Investissement Minier confirmed their intention to participate. Proceeds will fund an inaugural drill campaign at Voyageur in Michigan and exploration at Lac Gayot, Québec and Armit Lake, Ontario.
FinancingPerseverance Metals Upsizes Private Placement to up to C$3,500,000 and Announces Appointment of Chief Financial Officer
A previously announced private placement has been upsized from C$3,000,000 to up to C$3,500,000, comprising up to 4,615,385 hard dollar units at C$0.65 and up to 641,025 Ontario flow-through units at C$0.78. Each unit includes one share and a half warrant exercisable at C$0.95 for 36 months, subject to acceleration if shares close at or above C$1.30 for ten consecutive trading days. Proceeds will fund drilling at Voyageur in Michigan, exploration at Lac Gayot in Québec, and Armit Lake expenditures in Ontario. Nicholas Furber becomes CFO effective February 28, 2026, replacing Anil Jiwani.
FinancingPerseverance Metals Announces Private Placement Financing
A non-brokered private placement of up to C$3,000,000 will be completed, consisting of hard dollar units priced at C$0.65, each with one common share and one-half warrant exercisable at C$0.95 for 36 months, subject to acceleration if shares close at or above C$1.30 for ten consecutive trading days. Proceeds will fund the inaugural diamond drill campaign at the Voyageur project in Michigan's Upper Peninsula, continued exploration at Lac Gayot in Quebec, and general corporate purposes. Insiders may participate.
FinancingPerseverance Metals Reflects on a Foundational 2025 and Outlines High-Impact 2026 Exploration Plans
A 2025 review and 2026 plan sets out a maiden 2,000–3,000 metre drill program at the Voyageur Ni-Cu-Co-PGE project in Michigan in early 2026, followed by an approximately 5,000 metre campaign at Lac Gayot, Québec, beginning in early summer, plus a ground SQUID survey over the Venus East Trend. In 2025 the company raised over $8M, listed on the TSXV in October, and discovered the Baseline Zone, including 4.03% nickel, 0.69% copper, 0.12% cobalt and 1.86 g/t PGEs over 2.1 metres.
CorporatePerseverance Reports Drill Results from the Nasique Zone Discovery, Lac Gayot Ni-Cu-Co-PGE Project, Quebec
Nine diamond drill holes (NAS-25-001 to 009) at the Nasique Zone on the Lac Gayot Ni-Cu-Co-PGE project in Quebec all intersected disseminated magmatic sulphides. NAS-25-001 returned 6.25 metres of 1.33% Ni, 0.12% Cu and 0.58 g/t PGEs (Pt+Pd+Au) within a broader 12.00 metre zone of 1.02% nickel, 0.08% copper and 0.40 g/t PGEs. The zone is now defined over roughly 60 metres of strike and 90 metres of vertical depth, and remains open in all directions. A SQUID ground EM survey and follow-up drilling are planned for 2026.
Drill resultsPerseverance Metals Intersects High Grade 4.03% nickel over 2.1m with 0.69% copper, 0.12% cobalt, and 1.86g/t PGEs from Baseline Zone Discovery, Lac Gayot Project, Québec
Drilling at the Baseline Zone of the Lac Gayot project in northern Québec returned 4.03% Ni, 0.69% Cu, 0.12% Co and 1.79 g/t Pd over 2.10 m in hole BAS-25-004, located 25 metres along strike from discovery hole BAS-25-002. Hole BAS-25-003, some 25 metres up-dip, cut 3.39% Cu, 2.06% Ni, 0.35% Co, 1.62 g/t Pd, 0.20 g/t Pt and 0.32 g/t Au over 0.50 m within 1.31 m. Results cover six holes, BAS-25-003 to 008. A ground SQUID survey over the Venus East Trend is planned for early 2026 ahead of spring/summer drilling.
Drill results
20259 releases
Perseverance Metals Leases 1,286 hectares within the Voyageur Nickel-Copper-Precious Metals Project, Michigan and Provides an Update on Lac Gayot and AGM Results
A lease agreement with Keweenaw Land Association Ltd. covers 1,286 hectares of mineral titles in Michigan's Upper Peninsula, within the Voyageur nickel-copper-precious metals project, raising the Company's regional land position to 69,275 hectares. Drill targets there are slated for testing in the first half of 2026. Assays remain pending from the summer/fall drill program at the Lac Gayot project, Quebec. At the December 5, 2025 AGM, all five director nominees were elected unanimously, De Visser Gray was appointed auditor, and the Equity Incentive Plan passed with 93.9% support.
CorporatePerseverance Metals appoints Dr. Mark Bennett as Strategic Technical Advisor to the Board of Directors
Dr. Mark Bennett has been appointed Strategic Technical Advisor to the Board of Perseverance Metals Inc. (TSXV:PMI). Bennett has over 40 years in mineral exploration and mining, led Sirius Resources during the 2012 Nova-Bollinger Ni-Cu-Co discovery in Western Australia and its CA$1.8 billion sale to Independence Group in 2015. The Company also engaged ICP Securities Inc. for automated market making at CA$7,500 per month, starting November 14, 2025, for an initial four-month term, subject to TSXV approval.
ManagementPerseverance Metals Reports High Grade, >4% Nickel from Initial Drilling of the Venus East Ni-Cu-Co-PGE Trend, Lac Gayot Project, Québec
Drilling at the Baseline Zone of the Venus East Trend, Lac Gayot project, Québec, returned 1.69% nickel, 0.59% copper, 0.07% cobalt, 0.69 g/t palladium over 1.1 m in hole BAS-25-002, including 4.13% nickel, 0.33% copper, 0.14% cobalt, 1.53 g/t palladium and 0.19 g/t platinum over 30 cm. Follow-up hole BAS-25-004, 25 metres along strike, intersected 2.10 metres of massive sulphide, with assays pending. BHEM modelling indicates a 10,000 S/m plate extending over 100 m northeast and over 60 m southwest; a high-resolution ground EM survey is planned for 2026.
Drill resultsPerseverance Metals Identifies the Venus East Ni-Cu-Co-PGE Mineralized Trend on the Lac Gayot Project, Québec, Canada
A newly defined Venus East Ni-Cu-Co-PGE mineralized trend, measuring 6km long by 2km wide, has been identified at the Lac Gayot project in Québec, with six surface showings found to date within a 6km magnetic high corridor, hosting disseminated to semi-massive and locally massive sulphides. Four target areas were drilled in 2025, three within the trend; surface assays are expected end of October to mid-November 2025 and drill results end of November to mid-December 2025. A 2.5km by 6.5km ground SQUID EM survey is planned for 2026.
Drill resultsPerseverance Metals to Commence Trading on TSXV Under Symbol ‘PMI’ Following $8.2 Million Go-Public Financing
Common shares of Perseverance Metals Inc. will begin trading on the TSX Venture Exchange at the market open on Tuesday, October 14 under the symbol PMI. The listing follows completion of oversubscribed go-public financings that raised aggregate gross proceeds of approximately C$8.2 million. The company's projects include Lac Gayot (Québec), Voyageur in Michigan's Upper Peninsula, and Armit Lake in Ontario.
Corporate