Discovery Mining said on 9 October 2026 that it had agreed to acquire the Fuller project and a 60% interest in the Paymaster Joint Venture in Timmins, Ontario, from McEwen Inc. for US$55m.
Why Discovery Mining Ltd. is buying Fuller project and 60% of the Paymaster Joint Venture, Timmins (from McEwen Inc.)
Discovery said the land, contiguous with its Dome Mine, offers exploration upside and an ideal location for potential new processing and tailings facilities to support large-scale production from Dome, which has an 11 million ounce inferred resource.
Deal terms and financing
Discovery will pay US$50m in its common shares and US$5m in cash. Separately, Franco-Nevada will pay Discovery US$8m to extend its existing Porcupine royalty to the purchased claims, on closing.
Regulatory approvals and timing
Completion is subject to transfer of the claims, extinguishment of the existing NPI royalty on Fuller, customary conditions and Toronto Stock Exchange approval of the share issue. Discovery expected closing in October 2026.
Market context
For McEwen, the sale monetises non-core assets as it targets 250,000 to 300,000 gold-equivalent ounces of annual production by 2030. Discovery, which bought the Kidd Operations in June 2026, aims to lift gold output to more than half a million ounces a year.
