StrikePoint Gold Inc. (TSXV: SKP | OTCQB: STKXF) announced on October 6, 2026 that it has completed the acquisition of the Northumberland Gold Project in Nevada's Walker Lane from subsidiaries of Newmont Corporation, paying US$70 million in upfront cash at closing. The project hosts an independent mineral resource estimate of 2.86 million ounces of gold equivalent in the indicated category and 1.57 million ounces in the inferred category. The transaction, funded in part by a C$190 million brokered offering, marks a significant shift for StrikePoint as it establishes itself as a Nevada-focused gold explorer and developer. Trading in SKP shares, halted pending regulatory approval and closing, is expected to resume on the TSXV on or about October 8, 2026.

Key Points

  • StrikePoint Gold Inc. (TSXV: SKP | OTCQB: STKXF) completed the Northumberland Gold Project acquisition on October 6, 2026
  • US$70 million paid to Newmont subsidiaries at closing, with two contingent payments of US$25 million each tied to feasibility study completion and commercial production milestones
  • Independent MRE effective July 31, 2026: 2.86 Moz AuEq indicated (67 Mt at 1.33 g/t) and 1.57 Moz AuEq inferred (31 Mt at 1.58 g/t), based on more than 1,500 drill holes
  • Investors will be watching for SKP trading resumption, drill programme commencement, and exploration updates at Northumberland

Northumberland Resource Scale and Nevada Walker Lane Location

The Northumberland Gold Project is a past-producing open-pit deposit in Nevada's Walker Lane, approximately 150 kilometres by road from Tonopah. The independent mineral resource estimate, prepared by SLR Consulting's Hebert Lopes Oliveira (P.Geo.) and effective July 31, 2026, outlines 2.71 Moz of gold and 11.60 Moz of silver in the indicated category, totalling 2.86 Moz AuEq at 1.33 g/t. The inferred category adds 1.52 Moz gold and 4.26 Moz silver, equating to 1.57 Moz AuEq at 1.58 g/t. The resource is defined by 1,511 reverse-circulation and 37 core holes drilled by previous operators. No mineral reserves have been declared, and mineral resources do not have demonstrated economic viability.

Transaction Financing: C$190 Million Brokered Offering and Tembo Capital Royalty

StrikePoint financed the acquisition primarily through a bought-deal private placement of 95,000,000 subscription receipts at C$2.00 each, raising C$190 million gross, with Canaccord Genuity acting as sole underwriter. Escrow release conditions were satisfied on October 6, 2026, triggering conversion of all subscription receipts into common shares. Concurrently, the company sold a 0.5% net smelter return royalty over Northumberland to a Tembo Capital affiliate for US$10 million. Tembo now holds approximately 19.9% of issued shares on a non-diluted basis and has secured board nomination rights under an investor rights agreement. The company also completed a ten-for-one share consolidation effective October 2, 2026.

Board Appointment and Planned Drilling at Northumberland

Alan Pangbourne, with over 35 years of global mining operations experience, has been appointed Chairman of StrikePoint's Board of Directors effective upon closing. President and CEO Michael G. Allen stated in the release that the company anticipates commencing drilling within a month of the announcement, with goals of expanding and infilling the existing resource. The company also disclosed five drill permits are currently in place. The deposit is described as open in multiple directions, with the last exploration activity occurring around 2010. The release notes that numerous untested targets exist, including extensions of known mineralisation on both private and public land.