VANCOUVER, British Columbia, June 18, 2026 (GLOBE NEWSWIRE) -- Prosper Gold Corp. ("Prosper Gold" or the "Company") (TSXV:PGX) announces that the Company has entered into a definitive purchase agreement (the "Purchase Agreement") with Kenorland Exploration Ltd. ("Kenorland" or the "Purchaser"), pursuant to which the Company has agreed to sell to Kenorland its 100% interest in the Golden Sidewalk and Skinner properties (the "Properties") located approximately 60 km east of Red Lake, Ontario (the "Transaction"). Kenorland is at arm's length to the Company.
As consideration for the sale of the Properties, Kenorland will pay C$1,000,000 in cash (the "Consideration") to the Company on the closing date of the Transaction ("Closing").
Transaction Details
The Transaction is subject to the approval of two thirds of the votes cast in person or by proxy at a meeting (the "Meeting") of Prosper Gold's shareholders ("Shareholders"). It is anticipated that Prosper Gold will prepare and mail a management information circular to its Shareholders in connection with the Meeting and that the Meeting will be held in August 2026. The Transaction is subject to customary conditions including the approval of the Shareholders and the approval of the TSX Venture Exchange (the "TSXV").
The Purchase Agreement and the Transaction have been unanimously approved by the board of directors of Proper Gold (the "Board"), and the Board unanimously recommends that the Shareholders vote in favour of the Transaction.
No finder's fees will be paid by Prosper Gold in connection with the Transaction.
The Properties
The Golden Sidewalk is a district-scale gold exploration project covering over 160 square kilometres of contiguous mineral claims and mining leases in the western Birch-Uchi Greenstone Belt, approximately 60 km east of Red Lake, Ontario. No significant exploration activities were completed by Prosper Gold at the Golden Sidewalk Project for the period ended January 31, 2026.
For a detailed overview of Prosper Gold please visit www.ProsperGoldCorp.com
ON BEHALF OF THE BOARD OF DIRECTORS
Per: - Peter Bernier-
Peter Bernier
President & CEO
For further information, please contact:
Peter Bernier
President & CEO
Prosper Gold Corp.
Cell: (250) 316-6644
Email: Pete@ProsperGoldCorp.com
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation; statements about the terms of the Purchase Agreement, approval of the TSXV and the Shareholders at the Meeting are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: risks related to TSXV and Shareholder approvals; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume and the additional risks identified the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSXV and applicable Canadian securities regulations. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
