10:12 AM EDT, 08/12/2025 (MT Newswires) -- Visible Gold Mines ( VGMIF ) was unchanged Tuesday after saying it had agreed to sell its 100% interest in six properties, and a 40% interest in one property, in Quebec, to Fokus Mining ( FKMCF ) for about $3 million.

The six properties being sold are the Cadillac Break, Lucky Break, Silidor, Stadacona, Wasa Creek, and Wasa East projects, while the other property is the Capricorn project. All are located along the Cadillac-Larder Lake Fault near the town of Rouyn-Noranda in the province of Quebec, Canada.

Total consideration will include the payment of $750,000 in cash on the closing of the deal, expected to occur on or before September 30, 2025, and the issuance at closing of Fokus common shares having a value of $1.5 million, and also the payment of an additional amount of $750,000 in cash on the date that is three months following the closing date.

"The acquired properties total 6,473 hectares across 215 exclusive exploration rights (i.e. formerly called mining claims), significantly increasing Fokus' land holdings in the region and providing high-potential exploration upside adjacent to major gold systems, including Agnico Eagle's Wasamac project and Fokus' flagship Galloway Project," said Fokus Mining ( FKMCF ) in a separate press release. Its shares were last seen up 12% at $0.14, but were higher, on the TSX Venture Exchange.

"With a single transaction, we triple our land package and secure highly prospective ground adjacent to both our Galloway Project and advanced-stage deposits like Wasamac," said Fokus Mining ( FKMCF ) Chief Executive Philippe MacKay.