The Conversation (0)
Visible Gold Mines Inc. (TSXV: VGD,OTC:VGMIF) and ( Frankfurt : 3V4) is pleased to provide a corporate update highlighting recent transactions and provides an update on the exploration plans for 2025.
CORPORATE UPDATE
Sales of properties
In consideration for the sale of exploration projects to Fokus Mining Corporation, the Company received an initial cash payment of $750,000 and 10,000,000 shares of the Company valued at $1,750,000 . The second cash payment of $750,000 is expected no later than December 3, 2025 .
Website refresh
The Company's website www.visiblegoldmines.com is temporarily offline to accurately reflect recent transactions and highlight the Company's gold projects in the Chapais / Chibougamau area. The new website will be active before the end of October 2025 .
Insider transaction
Martin Dallaire , CEO, recently purchased shares of Visible Gold Mines on the market. He now owns 5,304,500 shares at an average price paid of $0.124 , representing an investment of $658,509.70 in Visible Gold Mines. He purchased 1,800,000 shares directly and 3,504,500 shares indirectly through his management company 9086-0735 Québec Inc. This represents approximately 14.28% of the issued and outstanding shares on a non-diluted basis and 18.98% on a partially fully diluted basis. Visible Gold Mines has 37,155,164 common shares outstanding.
Marketing
Marketing efforts will be initiated immediately to promote the Company's gold projects and its enviable corporate structure to investors. There is actually a strong interest in the junior gold exploration sector due to record high gold and geopolitical uncertainty and Visible Gold Mines definitely wants to be an important player and demonstrate leadership.
EXPLORATION UPDATES
Gold projects
Horsefly property
The Horsefly project is located 19 kilometers west of Iamgold Corporation's Nelligan project in the Chapais Chibougamau area. The gold showing on the Horsefly project, called the "Barrette Road Gold Showing," shares several similarities with the Nelligan gold showing, which was initially found on Iamgold's current Nelligan deposit. A prospecting and sampling program is planned for the project in the coming weeks, followed by a drilling program. Historically, the Horsefly project has never been drilled. This project will be our flagship project.
Veronik property
The Veronik gold property is located 75 kilometers southeast of Hecla's Casa Berardi gold mine. The Veronik property is underlain by the mafic volcanic rocks (basalt, andesite) and gabbro of the Clermont-Disson Formation, in the eastern part of the Archean Abitibi belt. A prospecting program is planned for fall 2025 on this project.
Lithium projects
MegaLi (JamesBay)
To date, the optionor SPOD Lithium has paid Visible Gold Mines $175,000 , issued 2,375,000 SPOD shares and has carried out work on the property (78 mining titles) totaling $1,141,085 . To complete its option and acquire 50% of the MegaLi project, SPOD must, before December 31, 2025 , make a final payment to Visible Gold Mines of $150,000 , issue 1,375,000 SPOD shares and spend $1,000,000 on work on the property. Recently, SPOD management has verbally informed us that it will not be able to fulfill its obligations given the difficult financing conditions in the lithium sector and will likely return the project to Visible Gold Mines.
CarLi & NataLi (JamesBay)
The CarLi project was abandoned on September 21, 2025 due to insufficient exploration work on the property and the NataLi project will also be abandoned on December 9, 2025 for the same reasons.
Qualified Person
Jeannot Theberge , PGeo, senior geologist, and a consultant to Visible Gold Mines, is the qualified person for Visible Gold Mines' properties under National Instrument 43-101 - Standards of Disclosure for Mineral Projects , responsible for the technical contents of this news release, and has approved the disclosure of the technical information contained herein.
Forward-Looking Statements
This news release contains statements that may constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding the future plans, costs, objectives or performance of the Corporation, or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur. Forward-looking information is based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Corporation's control. These risks, uncertainties and assumptions include, but are not limited to the risks, uncertainties and assumptions described under "Financial risk management objectives and policies" and "Risk and Uncertainties" in the Corporation's Annual Report for the fiscal year ended July 31, 2024 , a copy of which is available on SEDAR+ at www.sedarplus.ca , and could cause actual events or results to differ materially from those projected in any forward-looking statements. The Corporation does not intend, nor does it undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.
About Visible Gold Mines Inc.
Visible Gold Mines is a corporation focused on gold in the prolific Abitibi Gold Belt and the James Bay region in the province of Quebec . Visible Gold Mines has 37,155,164 common shares outstanding.
Neither TSX Venture Exchange 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 the release.
Website: www.visiblegoldmines.com
SOURCE Visible Gold Mines Inc.
View original content: http://www.newswire.ca/en/releases/archive/October2025/08/c8082.html
