Discovery Mining agrees to buy Timmins mineral assets from McEwen for $55 million
MUX•Discovery Mining signed an agreement to acquire Timmins mineral properties from McEwen for $55 million: $5 million in cash at closing and $50 million in Discovery shares. Closing is targeted for October 2026, subject to customary conditions.
1. Deal terms and assets
The assets include mineral properties adjacent to the Dome Mine, including the Fuller project, and McEwen’s 60% interest in the Paymaster joint venture. The acquisition expands Discovery’s land position around Dome, supporting potential future processing and tailings infrastructure for larger-scale production. Closing is targeted for October 2026, subject to customary conditions, including transfer of claims, royalty extinguishment and TSX approval for the shares issued.
