ICG Silver & Gold Ltd. has entered into an arrangement agreement to acquire the Tuscarora and Danny Boy projects from American Pacific Mining Corp. The deal transfers ownership of an approximately 8,000‑acre silver‑gold epithermal system in Nevada to ICG in exchange for 11,500,000 ICG common shares and a $5 million cash payment that will be made only after commercial production is achieved.
The equity component is split so that 7,500,000 shares are distributed pro‑rata to APM shareholders and the remaining 4,000,000 shares are retained by APM. ICG will also receive all issued and outstanding shares of Clearview Gold Inc. and APMUS, the registered owners of the Danny Boy and Tuscarora projects, respectively. The transaction is subject to court approval and shareholder votes, with a projected closing in the first quarter of 2026.
For American Pacific Mining, the sale removes a non‑core asset and allows the company to focus on its flagship projects in Montana and Alaska while still maintaining a stake in the Tuscarora District through equity in ICG. For ICG, the acquisition provides a foundational asset for a dedicated exploration company, giving it immediate access to a high‑grade, underexplored land package in one of the world’s most prolific mining jurisdictions.
The Tuscarora District has a long history of production, with more than 500,000 ounces of gold and 7.5 million ounces of silver reported in the past. The district’s geology—Eocene‑age magmatism, quartz‑vein and stockwork mineralization within dacitic intrusions—offers a clear path to further exploration and development. ICG plans to deploy technical expertise and capital to unlock the district’s potential, positioning the company for long‑term shareholder value creation.
ICG’s leadership, which includes experienced executives from the Western United States mining sector, has outlined a concurrent go‑public financing and listing on the Canadian Securities Exchange anticipated in Q1 2026. The company expects the transaction to close in the first quarter of 2026, after regulatory approvals and shareholder votes are finalized.
"We are excited to acquire the Tuscarora District and will move quickly toward unlocking its full potential," said Steven Sirbovan, President, CEO & Director of ICG. "Nevada is one of the world’s premier mining jurisdictions, and the district’s combination of past production, high‑grade silver and gold mineralization and a large underexplored land package provides an opportunity to create significant shareholder value with the right technical focus and capital investment."
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