Valentine Gold Mine

First Ore Processed at the Valentine Gold Mine

Overview

The Valentine Gold Mine is located in central Newfoundland and Labrador, one of the world’s top mining jurisdictions. When complete, Valentine will be the largest gold mine in Atlantic Canada and a significant economic driver for the province.

The project spans a 32-km mineralized trend with multiple deposits and strong exploration upside. A December 2022 Feasibility Study outlined an open-pit mining and conventional milling operation with an initial 14-year mine life and average annual gold production of 195,000 ounces for the first 12 years.

Construction Highlights

Construction and commissioning are materially complete. The plant started processing ore in late August and first gold is expected by the end of Q3 2025.

• Electrical and Instrumentation, ball mill, SAG mill, inching drive tested and rotated successfully
• Mill motors, leaching circuit, ADR plant, electrical substation, control systems and majority of first gold scope has been handed over to operations
• Fully staffed with process plant personnel with commissioning experience
• Operational readiness critical tasks at 97%, ahead of schedule
• $25 million in critical spares on site
• Mining in Leprechaun and Marathon pits; 260 kdmt at 2.15 g/t gold on the ROM pad
• Phase 2 technical studies progressing, targeting an increase in plant throughput from 2.5 Mtpa to >5 Mtpa