Rockland Resources signs LOI with Evolution Mining unit for up to 70% stake in Pipestone Bay project

Reuters2026/07/29 12:02

By:Reuters

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Rockland signed a non-binding LOI with a subsidiary of Evolution Mining to option up to 70% of the Pipestone Bay gold project in Ontario.
The ~2,850-hectare property adjoins Rockland’s Cole Gold Mines project, expanding its footprint in the west Red Lake district.
Terms call for up to 500,000 shares issued to Evolution, funding commitments of up to $11.5 million over 5.5 years.
Evolution can reacquire to 70% ownership by paying 1.5x relevant spend, contingent on a 1.5 million-ounce resource definition.
A definitive agreement is expected within a month, followed by an exploration campaign across the combined land package.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Rockland Resources Ltd published the original content used to generate this news brief on July 29, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Rockland Resources signs LOI with Evolution Mining unit for up to 70% stake in Pipestone Bay project

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