Morocco Strategic Minerals Corp. Enters Agreement to Sell Sakami Property in Québec
MONTRÉAL, May 27, 2026 (GLOBE NEWSWIRE) -- Morocco Strategic Minerals Corporation (TSXV: MCC) ("Morocco Strategic Minerals" or the "Corporation") is pleased to announce that it has entered into an agreement on May 26th, 2026 (the “Agreement”) with Visible Gold Mines Inc. (TSXV: VGD) (‘’Visible Gold’’) pursuant to which Visible Gold will acquire a 100% interest in the Sakami Property (“Sakami” or the “Property”) located in the James Bay region of Québec (the ‘’Transaction’’).
The Transaction is consistent with the Corporation’s strategy to streamline its portfolio and focus capital and management resources on its Moroccan exploration assets, while allowing Sakami to be advanced by a Québec-focused exploration company.
Terms of the Agreement
Under the terms of the Agreement, Visible Gold will issue to Morocco Strategic Minerals Corp. 4,000,000 common shares of Visible Gold, representing approximately 9.7% of Visible Gold’s issued and outstanding common shares on a pro forma non-diluted basis and approximately 8.3% on a pro forma fully diluted basis following closing.
Visible Gold will also grant Morocco Strategic Minerals Corp. a 1% NSR royalty on the Property, which may be repurchased by Visible Gold for $1 million. The common shares will be subject to a voluntary three-year resale restriction, with 400,000 common shares to be released four months following closing and 1.2 million common shares to be released on each of the first, second and third anniversaries of the closing date (the “Voluntary Resale Restriction”).
Completion of the Transaction remains subject to customary closing conditions, including acceptance of the TSX Venture Exchange, as applicable.
Eskar Capital Corporation acted as finder in connection with the Transaction and will receive a finder’s fee equal to 4% of the Transaction value, subject to the policies of the TSX Venture Exchange.
Management Commentary
Pierre-Olivier Goulet, VP Corporate Development of Morocco Strategic Minerals, commented:
“While we continue to see meaningful exploration potential at Sakami, the Corporation’s current strategic focus on Morocco provides an opportunity to partner the asset with a group dedicated to advancing exploration in Québec. We believe Visible Gold is well positioned to unlock the value of the project while allowing Morocco Strategic Minerals to maintain exposure through equity ownership and an NSR royalty. This transaction also allows the Corporation to further concentrate its financial and operational resources on its rapidly growing Moroccan portfolio.”
Mr. Goulet added:
“We are pleased to retain long-term upside exposure to Sakami while focusing our efforts on advancing our exploration initiatives in Morocco, where we continue to see significant opportunities for district-scale discoveries and strategic partnerships.”
About the Sakami Property
The Sakami Property comprises 475 claims covering approximately 250 km² and is located along the contact between the Opinaca and La Grande subprovinces in the James Bay region of Québec. Historical exploration completed on the Property includes geophysical surveys, trenching, channel sampling and limited drilling campaigns.
About Visible Gold Mines Inc.
Visible Gold Mines (TSXV: VGD) is a mining exploration company focused on acquiring, exploring and developing gold projects in the prolific Abitibi Gold Belt and the James Bay region in the province of Québec.
About Morocco Strategic Minerals Corp.
Morocco Strategic Minerals Corp. is a Canadian mineral exploration company focused on the acquisition, exploration, and, if warranted, development of natural resource properties of merit in Canada and Morocco.
Contact Information
Telephone : 579-476-7000
Email : info@moroccosm.com
Pierre-Olivier Goulet
Vice-President Corporate Development
Guy Goulet
President and CEO
Forward-Looking Statements and Disclaimer
Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding the ability of the parties to complete the Transaction on the terms described herein; the satisfaction of customary closing conditions (including acceptance of the TSX Venture Exchange, as applicable); the payment of any finder’s fee; and the Corporation's plans, objectives and expectations with respect to its Moroccan assets. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "believes", "intends", "may", "will" or variations of such words and phrases, or statements that certain actions, events or results "will", "may", "could" or "should" occur. Forward-looking information is based on the Corporation's estimates and assumptions as of the date of this release and is subject to known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information. Readers should not place undue reliance on forward-looking information. The Corporation undertakes no obligation to update or revise such information except as required by applicable securities laws.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
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