Cadillac Mines Completes Acquisition of Larder Property From Pan American Silver, Expanding Ontario Gold Portfolio

The Quick Take

• Cadillac Mines Corporation (TSX: CADY) completed the acquisition of Pan American Silver's Larder Property assets as of September 15, 2026
• The binding asset purchase agreement was originally signed on May 7, 2026, with completion announced via Globe Newswire from Toronto
• The acquisition expands Cadillac Mines' Ontario mineral exploration footprint, adding the Larder district to its existing project portfolio

Cadillac Mines Corporation, a Toronto-based mineral exploration and development company trading on the TSX under the ticker CADY, completed its acquisition of the Larder Property from Pan American Silver Corp on September 15, 2026. The transaction was executed under a binding asset purchase agreement signed on May 7, 2026, and its successful close represents the transfer of all assets comprising Pan American's Larder Property to Cadillac Mines. The Larder district, located in northeastern Ontario, is an established gold-mineralized belt historically associated with significant past production and ongoing exploration interest.

For Pan American Silver, the divestiture of the Larder Property reflects the company's strategic priority of concentrating capital on its operating silver and gold mines rather than developing early-stage Ontario exploration assets. The proceeds — terms undisclosed in the available announcement — add to Pan American's balance sheet flexibility at a time when its primary assets in South America and Mexico represent the focus of its capital allocation. For Cadillac Mines, the acquisition is a scale-building move in Ontario gold exploration, adding land position that could be advanced through drill programmes funded by the company's next capital raise.

Investors should watch for Cadillac Mines' announcement of its exploration programme for the Larder Property, including planned drill targets and timeline for initial results. The broader gold price environment — with gold holding above Rs 1.52 lakh/10g in India and tracking the USD spot price driven by Fed and geopolitical factors — creates a supportive backdrop for junior gold explorers to raise capital at reasonable valuations. The macro variable for CADY's near-term share performance is gold's direction after the Federal Reserve's September 2026 decision, which will define the risk appetite for gold equity financing.

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