Agnico Eagle invests $14.8M in Scout Discoveries

On 18 September 2026, Agnico Eagle Mines agreed to make a strategic equity investment of $14,769,411 in Scout Discoveries Corp. The transaction prices Scout shares at $1.50 each for 9,846,274 shares, giving Agnico Eagle a 14.9% fully diluted interest in the company.

The transaction forms part of a $25,002,463.50 private placement without warrants or fees. Scout's largest shareholder, The Electrum Group, invested $10,233,052.50 at $1.50 per share for 6,822,035 shares, lifting its fully diluted stake from 27% to 30%. The proceeds will fund exploration at Cuddy Mountain, Speed Goat, and other properties.

Upon closing, Agnico Eagle will also enter into an earn-in agreement for Scout's Elk City project in Idaho. Agnico Eagle can earn a 51% interest by funding $20 million in work over five years, and an additional 19% to reach 70% by funding another $40 million over the subsequent three years.

Agnico Eagle will also secure an option to earn up to 70% in Scout's Muldoon project in Idaho. That option structure requires $10 million over five years for a 51% stake and a further $20 million over three years for the remaining 19%. Scout will serve as operator during the earn-in periods, with approximately $9.4 million budgeted for initial exploration programs through the end of 2027.