Gold Mining Stocks Surging While Gold Surpasses $3,950 an Ounce as Mining Operations Increase

PALM BEACH, Fla., Oct. 07, 2025 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - Gold has been hitting all-time highs and is projected to continue this year. A recent report said that More than 125 years after the Klondike gold rush, the Dawson City area generated the highest amount of gold production revenue ever recorded last year. "For the fiscal year of April 1, 2024 to March 31, 2025, there was a 34 per cent increase in reported gold production," said Sydney van Loon with the Yukon Geological Survey. YGS attributes production increases to high gold prices, favorable weather conditions and "increasingly sophisticated large-scale operations." Tim Osler, a placer miner, says the high price of gold is changing placer mining in a number of ways. "All these tiny little weed drainages that had no interest before, people are jumping on them, staking them all up," he told CBC. "But with this gold price, it kind of changes those economics," van Loon said. "From what I'm hearing from the miners on creeks, half an ounce per 100 loose cubic yards is now doable." Yukon's gold mining in 2025 is marked by active exploration programs and resource updates from a growing number of miners focusing on expanding existing deposits and identifying new discoveries. According to a recent article regarding the Yukon mining opportunity: “The Yukon Territory has emerged as one of North America's most promising gold frontiers, with its rich geological history creating ideal conditions for significant deposits. This Canadian territory's unique geological formations have produced over 12.6 million ounces of gold since records began, making it a key region for exploration companies and investors alike. The territory's vast expanse of 482,443 square kilometers contains numerous gold-bearing systems that continue to attract substantial investment. What makes the Yukon particularly interesting is the diversity of its deposits, including placer, orogenic, and intrusion-related systems that offer various opportunities for a new gold discovery in Yukon and development.” Active Companies in the mining industry this week include Sanatana Resources Inc. (OTC: SADMF) (TSX-V: STA), Prospector Metals Corp. (OTCQB: PMCOF) (TSX-V: PPP), White Gold Corp. (OTCQX: WHGOF) (TSX-V: WGO), Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM), Snowline Gold Corp. (OTCQB: SNWGF) (TSX-V: SGD).

Another report by Reuters added as Gold blazes past $3,900 an Ounce: “Investors are navigating everything from shifting Fed policy to global political developments, and gold is playing its traditional role as a store of value," said Joseph Cavatoni, senior market strategist at the World Gold Council (WGC) trade association. What’s important now is that this safe-haven demand is layered on top of structural allocation trends — meaning gold isn’t just reacting to events, but also gaining traction as a core holding in portfolios. "As long as uncertainty levels are high, ETF flows (into gold) should continue ... I see gold prices passing through $4000/oz by the turn of the year," said Michael Haigh, global head of commodities research at Societe Generale.

Sanatana Resources Inc. Announces Closing of Transaction to Acquire Gold Strike One Project (Yukon) and Abitibi Property (Quebec) - Sanatana Resources Inc. (TSX-V: STA) (OTC: SADMF) ("Sanatana" or the "Company") has completed its previously announced transaction to acquire the Gold Strike One Project (Yukon) and the Abitibi Property (Quebec) (collectively, the "Acquired Assets") from LIRECA Resources Inc. ("LIRECA") and LIRECA's affiliate, Florin Resources Inc. (together with LIRECA, the "LIRECA Group"), as initially announced on July 3, 2025 (the "Acquisition"). The Acquisition constituted a non-arm's length "Reverse Takeover" for Sanatana, as such term is defined in TSX Venture Exchange ("TSX-V") Policy 5.2 - Change of Business and Reverse Takeovers ("Policy 5.2"). The Company continues to be a Tier 2 mining issuer on the TSX-V.

Peter Miles, CEO of the Company, commented: "With the closing of the acquisition of Gold Strike One, the Company strengthens its suite of projects and now holds a mineral tenure located less than 500 metres south of the southern extent of Snowline Gold Corp.'s Valley Deposit interpreted resource pit as defined in their preliminary economic assessment report filed July 30, 2025. Gold Strike One is within the Rogue Plutonic Complex region of the Tintina Gold Belt, Yukon. We look forward to the exploration of both Gold Strike One and Gold Strike Two and further to our news release dated August 7, 2025, we expect to see initial results from our summer exploration and due diligence program on Gold Strike Two within the next four to six weeks as the Company continues to consider other possible acquisitions to further strengthen its project portfolio."

John Fiorino, principal of the LIRECA Group, commented: "By accepting approximately 90% of the consideration for the transaction in escrowed equity of Sanatana, the LIRECA Group continues to demonstrate its confidence in the projects and our alignment with long-term shareholders."

Below is a summary of the Acquisition and the Concurrent Financing (as defined below and, together with the Acquisition, the "Transaction"). For further details of the Acquired Assets, the Transaction or the Company, please refer to as well as the Company's filing statement dated September 23, 2025 (the "Filing Statement"), a copy of which is available on the Company's SEDAR+ profile at www.sedarplus.ca.

Summary of the Acquisition - The Acquisition was completed pursuant to a purchase agreement dated July 1, 2025 (the "Definitive Agreement") between the Company and the LIRECA Group. As consideration for the Acquired Assets, the Company (i) issued 24,745,620 common shares of the Company ("Common Shares") and paid $1,800,000 cash to LIRECA as consideration for the Gold Strike One Project and (ii) paid $200,000 cash to Florin as consideration for the Abitibi Property. The consideration is subject to certain bonus payments applicable in the event the Company publicly announces a resource estimate on any portion of the Acquired Assets, prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), that estimates the presence of Gold Ounces.

In connection with closing, the Company entered into certain royalty agreements (collectively, the "Royalty Agreements") with an affiliate of the LIRECA Group (the "Royalty Holder") in respect of the Acquired Assets providing for, among other things: (i) a 2% net smelter returns royalty and annual advance royalty in respect of the Gold Strike One Project; and (ii) a 3% net smelter returns royalty in respect of the Abitibi Property.

In connection with the Transaction, an aggregate of 33,240,458 Common Shares, 271,428 stock options exercisable for Common Shares and 1,573,571 warrants exercisable for Common Shares were deposited in escrow pursuant to escrow agreements executed by LIRECA and Peter Miles, all in accordance with TSX-V Policies.

The LIRECA Group and the Royalty Holder are "related parties" (as defined in Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101")) of the Company. Accordingly, the Acquisition, including the execution of the Royalty Agreements in connection therewith, are "related party transactions" (as defined in MI 61-101) and a "non-arm's length transaction" (as defined in TSX-V Policies). The Company relied on the exemption from the formal valuation requirements of MI 61-101 contained in section 5.5(b) of MI 61-101, as the Common Shares are not listed on a specified market; however, the Company was required to obtain minority shareholder approval in accordance with MI 61-101 and TSX-V Policies. On September 25, 2025, the Ontario Securities Commission issued a decision with respect to the Company's application for exemptive relief, pursuant to which the Company was exempted from the requirements in MI 61-101 to call a meeting of shareholders to consider the Acquisition and send an information circular to its shareholders in connection with such meeting (the "Exemptive Relief"). The Exemptive Relief provided that the Company was instead permitted to obtain minority shareholder approval for the Acquisition by way of written consent, which is also permitted by TSX-V Policy 5.2. Prior to closing of the Acquisition, the Company received written consents executed by shareholders holding 52.31% of the issued and outstanding Common Shares, excluding the Common Shares held by LIRECA and its affiliates. Continued… Read this full release along with full notes and comments for Sanatana Resources by visiting: https://www.sanatanaresources.com/news

Other recent developments in the mining markets include:

SNOWLINE GOLD CORP. (OTCQB: SNWGF) (TSX-V: SGD) recently announced the filing on SEDAR+ of a technical report supporting the Preliminary Economic Assessment (“PEA” ) for its Valley gold deposit (“Valley”) on its 100%-owned Rogue Project in Canada’s Yukon Territory (“the Technical Report”).

The PEA is a conceptual study of the potential economic viability of Valley’s mineral resources and the first economic assessment of any kind on the broader Rogue Project. Results of the PEA were disclosed by the Company in a June 23, 2025 news release.

The PEA envisions a conventional open pit mining and milling operation for Valley with a projected 20-year LOM producing 6.8 million ounces (Moz) of payable gold with a front-weighted production profile and attractive economic parameters. It demonstrates a C$3.37 billion post-tax net present value at a 5% discount rate (NPV5%) at US$2,150/oz Au, increasing to C$6.80 billion at US$3,150/oz Au, and 544 koz annual average Au production at all in sustaining costs (“AISC”) of US$569/oz Au for the first five (5) full years of production.

Prospector Metals Corp. (OTCQB: PMCOF) (TSXV: PPP) recently announced final assay results for drill hole ML25-31. This hole was drilled in the "North Vein" region of the ML Project, Yukon and is the first ever hole in this area designed to test for multiple stacked or parallel gold-bearing structures co-incident with favourable surface geochemistry, LiDAR and World View datasets. The hole discovered a previously unknown high-grade gold and copper zone, now known as the TESS Zone, from 62 - 106m downhole. The hole also intersected the historic "North Vein" zone from 138 - 145.36m.

Rob Carpenter, Ph.D., PGeo., President, CEO and Co-Chairman of Prospector, stated: "This discovery represents an exciting new style of gold mineralization for the ML Project. The high-grade and near surface intercept occurs within a distinct zone that is coincident with a diagnostic surface geochemical signature. Our team has successfully traced this trend on surface for at least 500m. Moreover, analyses of project wide datasets reveal the presence of numerous similar structural features that have not previously been drill tested."

Jodie Gibson P.Geo., Vice President of Exploration added "The high grade gold and copper mineralization on the Tess is a new and very unique style of reduced intrusion related gold mineralization (RIRGS) and demonstrates the potential for very high-grade mineralization on the margins of these systems outside of 'typical' intrusive host rocks. At ML, our exploration to date, combined with assessment of historic data, indicate multiple target areas with a similar geologic, structural, and geochemical setting as the Tess-North Vein area."

White Gold Corp. (OTCQX: WHGOF) (TSX-V: WGO) recently announced it has entered into an agreement with Clarus Securities Inc. (“Clarus” or the “Lead Agent”) who will act on behalf of the Company, together with a syndicate of agents (collectively, with the Lead Agent, the “Agents”), on a “best efforts” agency basis, in connection with a brokered private placement (the “Offering”) of premium flow-through units (each a “Premium Flow-Through Unit”), at a price of $1.17 per Premium Flow-Through Unit, flow-through common shares (each a “Flow-Through Share”), at a price of $1.00 per Flow-Through Share, and units of the Company (each a “Unit”, and together with the Premium Flow-Through Units and the Flow-Through Shares, the “Offered Securities”) at a price of $0.85 per Unit. Each Unit shall consist of one common share in the capital of the Company (each a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant shall entitle the holder thereof to purchase one Common Share at a price of $1.15 for a period of 24 months following the closing date of the Offering. Each Premium Flow-Through Unit shall consist of one Flow-Through Share and one-half of one Warrant. The Flow-Through Shares to be issued pursuant to the Offering will be issued as “flow-through shares” with respect to “Canadian exploration expenses” within the meaning of the Income Tax Act (Canada). The Agents will have an option (the “Agent’s Option”), exercisable in whole or in part up to 48 hours prior to the Closing Date (as defined herein), to offer for sale up to any combination of additional Offered Securities (at the respective offering prices) to raise up to an additional $3,000,000 in gross proceeds.

Pursuant to an existing investor rights agreement between the Company and Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) (“Agnico”), Agnico has the right to participate in the Offering in order to maintain its pro rata interest in the Company, and have indicated to the Company that they intend to maintain their approximate 19.8% interest in the Company on a partially diluted basis.

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