The acquisition marks Fresnillo’s strategic entry into the Canadian market. Probe Gold’s portfolio includes a total of 10 million ounces of gold resources, of which 8 million ounces are located in the Novador project. Novador stands out as one of the company’s most advanced gold mining projects, with the potential to produce over 200,000 ounces of gold annually for more than a decade.
The transaction is expected to be completed in the first quarter of 2026, pending regulatory approvals.
Fresnillo CEO Octavio Alvidrez said that Probe Gold’s portfolio is fully aligned with the company’s goal of developing high-quality exploration projects, stating: “We are excited to expand into a leading mining region like Canada.”
Alvidrez added that while Mexico will remain the strategic center of operations, Probe Gold’s portfolio will support Fresnillo’s long-term growth. The Novador project, together with the company’s advanced exploration projects in Mexico, is expected to further strengthen Fresnillo’s position as one of the world’s leading precious metals producers.
Source: AA
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