Agnico Eagle Sells Alaska Projects for $23.2M

Agnico Eagle Mines agreed on 8 September 2026 to sell its Delta and Helm Bay mineral projects in Alaska to Vizsla Copper Corp. The transaction carries a base equity consideration of 32,037,734 CAD, which equals approximately 23.2 million USD.

The transaction includes 249 State of Alaska mining claims at the Delta project. Helm Bay comprises 33 State of Alaska mining claims along with 642 unpatented federal mining claims.

At closing, Agnico Eagle receives 22,523,283 common shares of Vizsla Copper at a deemed issue price of 1.26 CAD each, giving it an initial 19.99% equity stake. An additional 2,903,490 deferred consideration shares are subject to shareholder approval, which would lift Agnico Eagle's total stake to 22.0%. The company also receives 3,041,480 common share purchase warrants exercisable at 1.95 CAD with a two-year expiry term.

Agnico Eagle retains a 2.0% net smelter return royalty on Delta and a 3.0% royalty on Helm Bay. Vizsla Copper holds an option to buy back 50% of either royalty for 5.0 million CAD each.

The agreement includes up to 20.0 million CAD in contingent milestone payments for the Delta project. This structure provides 5.0 million CAD upon reaching a mineral resource estimate threshold, 5.0 million CAD upon completing a feasibility study, and 10.0 million CAD upon reaching commercial production.