Lahontan Gold has agreed to acquire all issued and outstanding shares of Emergent Metals, consolidating its ownership of the West Santa Fe project and expanding its land position in Nevada, US.
Emergent Metals shareholders will receive one Lahontan share for every 3.21 Emergent shares held, with an implied value of C$0.115 per Emergent share.
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Upon completion of the transaction, existing Lahontan shareholders are expected to control approximately 95.3% of the combined company, while Emergent shareholders will hold the remaining 4.7%.
The deal will give Lahontan Gold full ownership of the West Santa Fe project in Nevada and immediately eliminate approximately C$2.39m in future payments that would otherwise have been required to acquire the remaining interest.
It will also remove a 1% net smelter return (NSR) royalty previously payable to Emergent on both the West Santa Fe project and 27 York claims recently acquired at the Santa Fe Mine project.
Additionally, two million Lahontan shares previously issued to Emergent for the York claims will be returned to Lahontan’s treasury, valued at roughly C$770,000 based on a 30-day volume-weighted average price of C$0.385, as of 15 September 2026.
Through the acquisition, Lahontan Gold will also obtain the New York Canyon project, located south of the Santa Fe Mine.
The project includes blocks of unpatented mining claims and is reported to host precious and base metal mineralisation.
Lahontan Gold founder, executive chair, CEO and president Kimberly Ann said: “The acquisition of Emergent Metals represents another important step in Lahontan’s disciplined growth strategy.
“This transaction consolidates our ownership of West Santa Fe, eliminates royalties at both West Santa Fe and the York claims at Santa Fe, adds the strategically important New York Canyon project to our regional-scale Walker Lane land package, and provides Lahontan with additional royalties, claims and other assets.”
The arrangement also involves the assumption of a $3.5m promissory note issued by Fairchild Gold to Emergent following the sale of the Golden Arrow property.
Lahontan will acquire 12.5 million Fairchild shares and a 0.5% NSR royalty on Golden Arrow, as well as properties and royalties in Quebec and a package of leased claims in Nevada.
Completion remains subject to approval by Emergent shareholders, court orders, TSX Venture Exchange acceptance and regulatory consents.
