Venerable Ventures Ltd. (TSXV: VLV.H) has signed a definitive agreement with Selkirk First Nation to form Selkirk Copper Mines Inc., acquiring 100% of the Minto copper-gold-silver mine via this joint-venture structure. The property is located in central Yukon on Selkirk First Nation Category A Settlement Lands.
Key infrastructure remains intact: the former outfitted processing plant (4,100 tonnes/day), camp, water treatment, power transmission, airstrip, and roads. These assets, previously used from 2007-2023, facilitate a potential restart.
The companies have launched a brokered private placement to raise up to C$30 million, with Canaccord Genuity as lead agent. Different security classes are being offered: non-flow-through, flow-through, and charity flow-through subscription receipts, priced between C$0.56 and C$0.84 depending on structure.
An updated NI 43-101 Mineral Resource Estimate (filed August 2025) shows Indicated resources of ~12.6 Mt at 1.20% Cu, 0.46 g/t Au, 4.3 g/t Ag; Inferred resources ~23.7 Mt at 1.05% Cu, 0.387 g/t Au, 3.9 g/t Ag. Resource tonnage has grown significantly—especially for open-pit categories—in both Indicated and Inferred categories.
Proceeds will fund a ~50,000 m drill campaign, updated mine planning, feasibility studies, infrastructure and permitting work, and preparations for a mining restart if feasible.
For investors, this represents a leveraged opportunity: a well-located, previously operational mine with significant resource base; strong First Nation partnership; and a funding plan aimed at de-risking through studies and drilling ahead of restart decisions. Key risks remain: regulatory and permitting hurdles, the success of upcoming exploration, and ability to raise and deploy funds efficiently.
