Business
Sterling Metals Consolidates Ontario's Newest Emerging Copper District Through Acquisition of QcX Gold
Creates a district-scale land package exceeding 35,000 hectares of the Batchewana Copper Belt while expanding Sterling's copper and gold discovery pipeline.
About this update from Qcx Gold Corp
Creates a district-scale land package exceeding 35,000 hectares of the Batchewana Copper Belt while expanding Sterling's copper and gold discovery pipeline. Toronto, Ontario--(Newsfile Corp. - June 2, 2026) - Sterling Metals Corp. (TSXV: SAG) (OTCQB: SAGGF) ("Sterling" or the "Company") and QcX Gold Corp. (TSXV: QCX) (OTC Pink: QCXGF) (FSE: 21MA) ("QcX") are pleased to announce that they have entered into a definitive agreement pursuant to which Sterling will acquire all of the issued and outstanding securities of QcX by way of a court-approved plan of arrangement (the "Transaction"). The Transaction creates a consolidated land package exceeding 35,000 hectares across the Batchewana Copper Belt of northern Ontario, expanding Sterling's district footprint by approximately 40% and strengthening its land position across key geological trends surrounding the Soo Copper Project. The acquisition adds multiple copper and gold targets, including extensions of the historic Tribag copper mining camp, while advancing Sterling's strategy of building a district-scale copper resource portfolio through aggressive exploration of Soo Copper, Ontario's emerging copper porphyry district. Under the terms of the Transaction, QcX shareholders will receive one Sterling common share for every 4.81026 QcX shares held at an implied consideration of $0.25666 per share of QCX. Upon completion of the Transaction, existing Sterling and QcX shareholders are expected to own approximately 90.75% and 9.25% of the combined company respectively. Transaction Rationale District-Scale Consolidation - The Transaction creates a consolidated land package exceeding 35,000 hectares that expands Sterling's district footprint by approximately 40%. The new expanded property will cover a majority of the Batchewana Copper Belt, a copper-rich porphyry-epithermal metallogenic terrane uniquely formed at the convergency of three major geological components: the Neoproterozoic MidContinent Rift, the Archean Batchewana Greenstone Belt and the southwest extension of the Kapuskasing Structural Zone. By bringing together desirably complementary land positions surrounding the Soo Copper Project, the combined company will hold a larger and more continuous position across the most prospective geological trends within the belt, elevating its ability to explore, discover and develop resources on a district scale (see...