TSX-V-listed Big Ridge Gold has struck a deal to acquire the remaining 20% interest in the Hope Brook gold project from TSX-listed First Mining Gold.

The transaction, expected to close in the third quarter, will see Big Ridge pay C$3-million in cash and issue seven-million common shares to First Mining.

"We are very excited to come to an agreement with Big Ridge for them to consolidate 100% ownership of the Hope Brook gold project," said First Mining CEO Dan Wilton. "This transaction continues to demonstrate the financial flexibility that our noncore asset portfolio can provide as we look to advance our two flagship projects at Springpole and Duparquet. First Mining will retain exposure to the Hope Brook gold project as a shareholder of Big Ridge and look forward to its continued success."

To help finance the acquisition and boost its working capital, Big Ridge also announced a C$5-million private placement, led by PowerOne Capital Markets as lead finder. The best-efforts offering will consist of up to 40-million units at C$0.125 per unit, each unit comprising one common share and one-half of a common share purchase warrant. Each full warrant is exercisable at C$0.20 for a 24-month period following the closing.

"Big Ridge is pleased to receive continued support from existing shareholders, including strong participation from Mr. Michael Gentile, PowerOne Capital Group, and other supportive shareholders," said Big Ridge president and CEO Michael Bandrowski. "Consolidating 100% ownership of the Hope Brook gold project is a significant milestone for Big Ridge, putting the company in position to realise the full value of a fantastic asset in a Tier 1 jurisdiction."

Gentile echoed the enthusiasm. "I am very happy to further increase my investment in Big Ridge Gold, one of the most undervalued and under-the-radar names I own in my portfolio. Today’s announcement of a 100% working interest in the Hope Brook project is not only highly accretive but highly strategic. With 100% ownership of a robust resource, advanced metallurgy, favourable infrastructure and a potential rapid permitting pathway under a secondary processing structure, the future looks very bright for BRAU shareholders."

The private placement is expected to close on or about July 25, 2025, subject to regulatory approvals, including acceptance by the TSX-V.