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.
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.
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 statements
This page summarizes the June 5, 2026 news release and may contain forward-looking information within the meaning of applicable securities laws, including statements regarding completion of the transaction, shareholder and court approvals, discontinuance of proceedings, removal of notations, distributions to shareholders and future exploration. Forward-looking statements are not guarantees of future results and involve risks and uncertainties. Readers should review the full news release and related circular materials when available.