AAN arrangement agreement
Solid Gold entered into an arrangement agreement with Apitipi Anicinapek Nation and Apitipi Anicinapek Asini Resources Corp. for the Lake Abitibi mining claims and related project assets.
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June 10, 2026
June 10, 2026 Timmins Mining Expo luncheon
Minister Steven Lecce, AAN Chief June Black, Minister George Pirie, consultant Ken Petersen, AAN councillor Maurice Kistabish, SG founder Andre Tanguay.
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News Release | June 5, 2026
AAN arrangement agreement
Solid Gold Resources Corp. has entered into an arrangement agreement with Apitipi Anicinapek Nation and Apitipi Anicinapek Asini Resources Corp. to launch one of Canada's first Indigenous-led junior mining companies on Treaty 9 lands.
Strategic rationale
A precedent for economic reconciliation
The transaction is structured to resolve long-standing litigation, return the claim block to exploration, and advance Indigenous ownership and control of mineral tenure on AAN's Treaty 9 territory.
Transaction Overview
Purchased assets and consideration
Under the arrangement agreement, AAARC will acquire Solid Gold's mining claims covering over 21,000 hectares in the Lake Abitibi area of Northern Ontario, together with related rights, data, permits and assets.
The consideration consists of $112,000 in cash and AAARC common shares representing, in aggregate, not more than 10% of AAARC's issued and outstanding shares on a post-issuance basis. No liabilities or obligations of Solid Gold will be assumed by AAARC.
Under the press release waterfall, Solid Gold will apply the cash consideration first to satisfy and discharge liabilities and legacy creditors. The balance, if any, of the cash consideration and all share consideration will then be distributed to non-dissenting Solid Gold shareholders as a return of capital, pro rata based on their common share holdings immediately before closing.
Strategic Rationale
What the arrangement is intended to accomplish
Indigenous-led acquisition
The transaction is believed to be a first-of-its-kind Indigenous-led acquisition of a Canadian junior mining company, with a First Nation-controlled subsidiary acquiring majority ownership and control of a mineral claim package on its own Treaty 9 territory.
Resolution of litigation
The transaction is structured to bring an end to Solid Gold's Crown proceeding and remove the MLAS pending proceedings notation that has encumbered the claims since November 2011.
Return to exploration
The 1,182-claim block sits along the North Branch of the Porcupine-Destor Fault near Lake Abitibi, adjacent to AAN's community and the Holt Complex.
Shareholder Context
Fairness opinion and voting support
The June 5, 2026 news release includes additional shareholder context regarding the sole director's recommendation and voting support agreements.
Fairness opinion
The sole director received an oral fairness opinion from Evans & Evans, Inc. stating that, subject to the assumptions, limitations and qualifications in the opinion, the consideration to be received by Solid Gold shareholders under the transaction is fair, from a financial point of view, to those shareholders.
Voting support agreements
Solid Gold shareholders holding, in aggregate, approximately 23.5% of the issued and outstanding Solid Gold common shares have entered into voting and support agreements with AAARC to vote in favour of the arrangement resolution, subject to the terms and conditions of those agreements.
Commentary
Leadership perspectives
After fourteen years of litigation, corporate dormancy and frozen mineral tenure, Solid Gold and AAN have come together to resolve our differences in a positive manner and to launch a new Indigenous-led exploration company on Treaty 9 lands.
Andre Tanguay, Chief Executive Officer of Solid Gold
The AAARC agreement marks an important milestone in our drive to transform past challenges into a foundation of working together, mutual respect, and trust with industry.
Lance Black, Chief Negotiator for Apitipi Anicinapek Nation
Through AAARC, we will guide responsible exploration that reflects our community's priorities, protects and defends our sacred sites, and allows us to be guardians of the land.
Maurice J. Kistabish, Elder Councillor at Apitipi Anicinapek Nation
An Indigenous owned exploration company must be guided by the same values that guided our Apitipi Anicinapek Nation.
Chief June Black
Approvals and Timing
Court, shareholder and closing conditions
The transaction will be completed pursuant to a court-approved plan of arrangement under Section 182 of the Business Corporations Act (Ontario). It will require approval by not less than two-thirds of votes cast by Solid Gold shareholders present in person or represented by proxy at the special meeting, or another threshold required by the interim court order.
Closing conditions include discontinuance of the Crown proceeding, removal of the MLAS pending proceedings notation, refreshment of mining claim anniversary dates, discharge of Solid Gold liabilities and legacy creditors, completion of AAARC due diligence, and related exploration and shareholders' agreements.
Cautionary note regarding forward-looking information
Certain statements on this website constitute forward-looking information within the meaning of applicable Canadian securities laws. Readers are cautioned not to place undue reliance on forward-looking information. Full details of the proposed arrangement are, or will be, set out in the management information circular and related documents posted on this website and filed under Solid Gold's profile on SEDAR+.