Cadillac Mines completes Larder Property acquisition
Toronto - Cadillac Mines Corporation (TSX:CADY) finalized its acquisition of Pan American Silver Corp.'s Larder Property, as announced in a press release today. The deal, originally disclosed on May 7, 2026, saw Cadillac Mines exchange 15 million of its common shares for the property. Pan American now owns around 6% of Cadillac Mines' outstanding common shares.
The Larder Property covers 6,400 hectares near the Larder Lake Cadillac Break and borders Cadillac Mines' Kerr-Addison property. It hosts three mineral deposits: Bear, Cheminis, and Fernland. The property has estimated resources of 388,000 ounces of indicated gold at 5.1 million tonnes grading 2.39 grams per tonne, and 933,000 ounces of inferred gold at 6.9 million tonnes grading 4.21 grams per tonne.
However, these historical estimates have not been verified by a qualified person and should not be considered current resources under Canadian National Instrument 43-101 standards. With this acquisition, Cadillac Mines now controls over 27,000 hectares of land in the Abitibi region. CEO Rick Howes said the company will start drilling at the Larder Property soon. The transaction was handled by Goodmans LLP.
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