01:15 PM EDT, 09/09/2025 (MT Newswires) -- Trident Resources ( TRDTF ) on Tuesday said it reached an option agreement with Reinco Exploration to acquire up to a 100% interest in the Reindeer Project, located near Southend, Saskatchewan through staged payments and share issuances.

The Reindeer project, which consists of 10 contiguous mineral claims totaling 26,910 hectares in northern Saskatchewan, is located along the Tabbernor Fault system, which is associated with multiple gold deposits including SSR Mining's ( SSRGF ) Seabee Mine.

The company said historical work identified multiple gold, copper, zinc, and silver showings in rock samples. It added that many untested EM conductors across the property remain "highly prospective for new potential discoveries."

"With nearly 27,000 hectares of highly prospective ground along a major gold-bearing fault system, we see tremendous opportunity for both gold and base metals discoveries," said Trident Resources ( TRDTF ) Chief Executive Jonathan Wiesblatt. "Equally important, the acquisition creates a strategic connection between our Knife Lake and Greywacke projects, which remains our current focus, enabling us to advance exploration across a consolidated land position in an efficient and synergistic way."

Trident will pay $35,000 and one-million shares to gain a 50% stake in the property, with two additional payments of 0.5-million shares to take full ownership of the property. Trident said if it exercises less than the full 100% earn-in, the parties will form a joint venture to further advance the property.

Shares of the company were last seen down $0.02 to $1.00 on the TSX Venture Exchange.

Price: 1.00, Change: -0.02, Percent Change: -1.96