Mike Fagan,
Editor
Aug. 7, 2026
GreenLight Metals Inc. (TSX-V: GRL)(OTCQB: GRLMF) — currently trading around C$0.30 per share in a strong copper and gold market — has finalized its staged earn-in agreement with Barrick Mining (NYSE: B)(TSX: ABX) at the Kalium Canyon gold project in Nevada, positioning the company to benefit from Barrick-funded exploration while focusing capital on its flagship Bend copper-gold project in Wisconsin.
Located within Nevada’s prolific Walker Lane trend — one of North America’s premier gold districts — Kalium Canyon is a low-sulfidation epithermal gold project in a region that has long been a center of U.S. gold exploration and mine development.
Under the finalized agreement, Barrick will fund staged exploration and technical work while leveraging its extensive Nevada exploration experience and expertise in epithermal gold systems.
Highlights include:
- Definitive staged earn-in agreement finalized with Barrick Mining
- Initial US$250,000 cash payment to GRL
- Barrick may earn up to an 80% interest by funding staged exploration, technical work, and a future pre-feasibility study
- Barrick is required to commence drilling within 180 days of receiving the first required drill permit
- GRL retains meaningful long-term exposure to Kalium Canyon while directing capital toward its flagship Bend project in Wisconsin
GreenLight President & CEO Matt Filgate commented on the finalized agreement with Barrick via press release:
“We are excited to partner with Barrick, one of the world’s largest gold producers, at Kalium Canyon. The staged earn-in gives Barrick a clear path to advance the project in stages, from exploration and technical work through to a potential pre-feasibility study, with each stage it elects to pursue funded entirely by Barrick at no cost to GreenLight. Our shareholders retain meaningful exposure to the project while our own capital stays focused on advancing our Wisconsin portfolio. With the long-form documentation now complete, we look forward to supporting Barrick’s team as planning begins for the first work programs.”
The agreement provides GRL with a capital-efficient pathway to advance Kalium Canyon while maintaining meaningful long-term exposure to the project, allowing the company to continue directing its exploration budget toward its flagship Bend project as both projects advance in parallel.
Flagship Bend Copper-Gold Project, WI
While Barrick prepares to advance Kalium Canyon in Nevada, GRL’s primary near-term focus remains its flagship, 100%-owned Bend copper-gold project in Wisconsin.
Recent drilling has continued to demonstrate the broader potential of the Bend volcanogenic massive sulfide (VMS) system with strong gold and copper intercepts — including 52.18 meters grading 1.12 g/t gold (1.28% CuEq) — further supporting the project’s scale, continuity, and resource growth potential.
Bend also recently became Wisconsin’s first FAST-41 Transparency Project on the U.S. Federal Permitting Dashboard, bringing greater visibility to the federal permitting process while highlighting the project’s growing importance within America’s domestic critical minerals strategy.
The latest results build on GreenLight’s successful Phase 2 program, which continues to expand the known mineralized system while improving the company’s understanding of the geological model.
GRL is nearing completion of the initial ~4,000-meter portion of its permitted 7,000-meter program and, with more assays pending, plans an additional ~2,000 meters subject to results and operating conditions.
The finalized Barrick partnership at Kalium Canyon complements GRL’s fully funded Phase 2 drill program at Bend, providing multiple catalysts as the company advances its growing U.S. project portfolio in today’s strong precious and base metals market.
For additional information on GreenLight Metals Inc., please call 778-679-3579 or email matt@greenlightmetals.com.
Visit the GreenLight Metals corporate website and sign up to receive updates directly from the company here. View the most recent Corporate Presentation here.
Access our feature-length GreenLight Metals report here.
Yours in profits,
Mike Fagan
Editor, Resource Stock Digest