Barrick Drops C$20.9M on Kingfisher Metals, Takes 9.9% Stake in Golden Triangle Copper-Gold Play

Barrick Mining Corporation is now a Kingfisher Metals shareholder.

Barrick agreed on July 21, 2026 to purchase 15,470,934 units of Kingfisher Metals Corp (KFR.V) at C$1.35 per unit in a non-brokered private placement, for gross proceeds of C$20,885,761. Kingfisher announced the deal closed on July 28, 2026.

Following the close, Barrick holds approximately 9.9% of Kingfisher's outstanding shares on a non-diluted basis and 14.1% on a partially-diluted basis, assuming full exercise of the warrants issued under the placement. Barrick held zero Kingfisher shares before the transaction.

Each unit comprises one common share and 0.5 of a common share purchase warrant. Each full warrant, carrying a two-year term, allows the holder to purchase one additional Kingfisher share at C$1.70.

The restrictions attached to Barrick's position are detailed in the company's July 28, 2026 closing announcement. For two years from closing, Barrick must either vote its shares in line with Kingfisher's board and management recommendations or abstain — and a standstill caps Barrick's total ownership at 15% of outstanding shares, rising to 19.9% if any third party acquires 10% or more during that window. Barrick also accepted an 18-month lockup on the shares issued to it.

Kingfisher had 156,272,063 shares outstanding as of the July 28, 2026 closing announcement, up from 140,801,129 as of July 21 — the difference reflecting the shares issued to Barrick.

Post-closing, Kingfisher states it holds approximately $47 million in cash, which it intends to deploy toward exploration at the Hank Porphyry discovery, targeting copper-gold mineralization.

Kingfisher has consolidated a 933 km² land position at its HWY 37 Project and a 202 km² Forrest Kerr Project in British Columbia's Golden Triangle, assembled through outright purchases and option earn-in agreements with Orogen Royalties, Golden Ridge Resources, and Aben Gold. The company also holds two district-scale orogenic gold projects in British Columbia totalling 641 km², both 100%-owned.

Dustin Perry, President, CEO, and Director, framed the deal around the due diligence Barrick conducted: "We are very pleased to welcome Barrick as a strategic shareholder of Kingfisher, following their extensive due diligence. This strategic investment is an endorsement of the prospectivity of our Golden Triangle land position and our technical team's ability to execute."

Kingfisher was trading at C$1.28 on July 23, 2026, per available market data — below the C$1.35 placement price Barrick paid. Verified pricing for July 31, 2026 was not available in source materials at publication time.

Per the company's July 28, 2026 closing announcement, Kingfisher intends to fund aggressive ongoing exploration programs aimed at delineating copper-gold mineralization at the Hank Porphyry discovery from that $47 million cash position.