Northern Discovery to Buy Cibola Copper-Gold Project in British Columbia
MT newswire2026/10/08 12:5908:59 AM EDT, 10/08/2026 (MT Newswires) -- Northern Discovery Metals (NOR.CN) agreed to buy a 100% interest in the Cibola copper-gold project in British Columbia from Orogen Royalties (OGN.V), subject to a 2% net smelter returns royalty and the obligations, it said in a statement on Thursday. The company will pay CA$130,000 and issue 700,000 common shares to Orogen as part of the arm's length deal. Cibola comprises about 3,567 hectares of road-accessible mineral claims, it said. It added that if it has not completed 15,000 metres of drilling on the property by Aug. 12, 2030, annual payments of CA$20,000 to the underlying optionors will start and continue until that threshold is met. Shares of the company closed unchanged at CA$0.73 on Wednesday on the Canadian Securities Exchange.
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