Gold Bulletin

Friday, May 22, 2026

Gold Market Context: Macro Drivers

Key macro instruments that drive gold price movements: dollar, yields, risk appetite

Market Commentary

Today's Interesting Company News

Wallbridge Completes Private Placement for Proceeds of Approximately C$56 Million

Wallbridge Mining Company Limited (TSX: WM, OTCQB:WLBMF) announced the closing of its previously announced private placement of common shares with Agnico Eagle Mines Limited and Waratah Capital Advisors Limited. Agnico Eagle purchased 243,927,966 common shares for gross proceeds of approximately C$22.4 million, while Waratah purchased 364,339,130 common shares for gross proceeds of approximately C$33.5 million. Following the closing, both Agnico Eagle and Waratah each hold a partially-diluted ownership position of approximately 19.9% of Wallbridge's common shares. The net proceeds from the private placement, together with existing financial resources, are expected to fully fund the completion of a pre-feasibility study on the Fenelon project. This transaction strengthens Wallbridge's financial position and supports its ongoing project development. Investors should note the significant equity positions acquired by Agnico Eagle and Waratah. The company has not disclosed further operational or exploration updates in this announcement.

Falcon Gold Corp. Positioned in Emerging Ontario Gold Growth Corridor Following Agnico Eagle's $14 Billion Provincial Commitment

Falcon Gold Corp. (TSXV:FG) announced updates regarding its flagship Central Canada Gold Project in Ontario, Canada, highlighting the positive momentum in Ontario's mining sector. The company noted recent announcements by Agnico Eagle Mines Limited and the Government of Ontario outlining approximately $14 billion in planned spending and investment across the province's mining sector through 2030. Falcon has received drill permits allowing for up to 20 diamond drill holes targeting the expansion of previously identified high-grade mineralization and structurally controlled gold zones. The company is currently planning a return to the Central Canada Gold Project as it advances preparations for its next phase of exploration. Falcon is also evaluating the broader regional potential of the Atikokan camp and continues to assess strategic opportunities within northwestern Ontario. The Province of Ontario recently announced an additional $10 million investment into the Ontario Junior Exploration Program, including the launch of an Advanced Exploration Stream. Falcon continues to evaluate multiple funding and strategic development alternatives to support future exploration and corporate initiatives.

Mackay Gold & Silver Announces Listing on the OTCQB Under the Symbol "MKGSF"

Mackay Gold & Silver Corp. (TSXV: MACK, OTCQB: MKGSF) announced that its common shares have commenced trading on the OTCQB Venture Market in the United States, effective May 22, 2026, under the symbol 'MKGSF'. The company emphasized that listing on the OTCQB shortly after its TSX.V debut was a priority to enhance visibility and accessibility for U.S. investors. Mackay is preparing to launch its inaugural 20,000-metre drill program at the Occidental Lode in the Comstock District, a historically productive mining area. The company reports being well-funded with approximately US$62 million in cash to pursue significant modern discoveries. The Comstock District is noted for an estimated 8.2 million ounces of historical gold production and 192 million ounces of silver produced between 1859 and 1926. Mackay controls a large, consolidated land package in this district and is led by an experienced team.

Galloper Gold Announces Fully-Funded Non-Brokered Private Placement

Galloper Gold Corp. (CSE:BOOM) announced it has arranged a non-brokered private placement totaling $2,226,996. The financing consists of 16,891,633 flow-through common shares at $0.12 per share for gross proceeds of $2,026,996, and 2,000,000 common shares at $0.10 per share for gross proceeds of $200,000. A strategic investor has committed to participate in the flow-through share portion for up to $999,996. The private placement is expected to close on May 29, 2026, subject to approval by the Canadian Securities Exchange. Net proceeds from the flow-through shares will fund the company's 2026 exploration program, while proceeds from the common shares will be used for general working capital. The company is focused on mineral exploration in central Newfoundland, specifically its Glover Island project. All securities issued will be subject to statutory hold periods pursuant to Canadian securities laws.

Cassiar Gold Announces Closing of C$5.5 Million Private Placement Offering

Cassiar Gold Corp. (TSXV: GLDC, OTCQX: CGLCF) announced the completion of a non-brokered private placement offering, raising gross proceeds of C$5,527,272.52. The Company issued 7,272,727 flow-through units at a price of C$0.76 per unit, with each unit consisting of one common share and one purchase warrant. Proceeds will fund ongoing and future exploration and drill programs at the Cassiar Gold Project in northern British Columbia, Canada. Each warrant is exercisable at C$0.65 for 22 months, contingent on a joint venture or strategic transaction involving Cassiar South. The Company will incur qualifying exploration expenditures by December 31, 2027, and renounce them to subscribers effective December 31, 2026. The offering is subject to final TSX Venture Exchange acceptance, and no finders or other fees were paid.

Snowy Project: Exploration Update

East Star Resources Plc (LSE:EST), a Kazakhstan-focused gold and copper exploration and development company, has provided an update on exploration activities at its Snowy gold project. Recent mapping and rock chip sampling have identified a prospective vein system, with gold values in surface veins reaching up to 1.44g/t. The veins have been traced along strike for up to 200m, and all samples also carry anomalous silver, up to 2.86g/t. The company is now interpreting the mineralisation as a low-sulfidation epithermal system and has commenced an Induced Polarisation (IP) survey, with results expected in Q2 2026. East Star is also pursuing multiple exploration strategies in Kazakhstan, including joint ventures on copper and gold projects. The announcement highlights the project's potential to host a large gold system and outlines next steps involving geophysical surveys to refine drill targets.

Felix Gold Extends High-Grade Gold Intersections within Antimony System at Treasure Creek

Felix Gold (ASX: FXG) has announced final 2025 assay results from the NW Array prospect at its Treasure Creek Project, confirming multiple near-surface gold intersections, including high-grade, structurally controlled intervals. The results highlight the co-occurrence of gold within high-grade antimony zones, strengthening the case for a dual-commodity system. Notable intersections include 29.26 metres @ 2.16 g/t Au from 13.41 metres and 2.53 metres @ 4.34% Sb. The company is focused on achieving near-term antimony production, with bulk sampling operations underway and a permit amendment approved in March 2026 for the extraction of approximately 1,600 tons of high-grade stibnite material. Felix Gold has secured 100% ownership of two upland mining leases and 25 mining claims at Treasure Creek, with a remaining consideration of US$1.4 million due. No Mineral Resources or Ore Reserves have been declared, and economic viability remains under assessment, with further technical, regulatory, and commercial evaluations required before progressing toward production.

Purecore Engages HEG & Associates for its 2026 Exploration Program at the Bankier Property

Purecore Metals Inc. (CSE: PURE) announced it has engaged HEG & Associates Exploration Services Inc. to plan and execute its 2026 exploration program at the Bankier Property in southern British Columbia. The company also entered into agreements with Independent Trading Group for market-making services and Spark Newswire Inc. for investor awareness initiatives. The 2026 summer exploration program will focus on geological mapping, prospecting, sampling, and target evaluation, leveraging HEG’s regional expertise. Purecore holds a 100% interest in the Bankier Property, which is located near the historic Brenda Mine and has multiple geochemical anomalies in copper, molybdenum, gold, zinc, silver, lead, and uranium. Spark Newswire will be paid USD $62,500 per month for twelve months for its services. These initiatives are designed to advance exploration, improve market liquidity, and increase investor awareness, with all agreements structured to allow for termination with 30 days’ notice.

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