Deal Check: a three-way merger with one director on every board, a Zimbabwe LOI and a silver estimate from 2020

Five junior property deals this week, read for the terms that matter.

Trojan Gold, Tashota and Strike Copper: one director, three boards

Trojan Gold (CSE: TGII) signed a definitive agreement on October 1 to combine with Tashota Resources and Strike Copper in a three-cornered amalgamation. Trojan will consolidate its shares about one for five. Tashota and Strike shareholders will each get one post-consolidation Trojan share per share they hold. The combined company is to be renamed Trilogy Gold.

The release says "Charles Elbourne is a director of each of Trojan, Strike Copper and Tashota." That makes it a related party transaction under MI 61-101, so Trojan needs approval from its disinterested shareholders. Independent committees were formed to review it. The board after closing is Trojan's current four directors, including Mr. Elbourne.

The release gives no share counts for any of the three companies, so readers cannot work out who will own what.

Alongside the deal, Trojan plans a brokered financing of up to $7 million: units at $0.20 with half a warrant at $0.30, and flow-through shares at $0.24.

WSK: most of the price comes after title transfer

WSK (TSXV: WSK) signed a letter of intent on October 1 to buy the NewRidge gold project in Zimbabwe from Golden Cube Mining Corporation. Total consideration is US$3 million in cash and 11 million shares, paid in stages:

• US$100,000 on signing the definitive agreement
• US$200,000 and 1 million shares at six months
• US$1.7 million and 4 million shares after title transfer
• US$1 million and 6 million shares six months after that

The release mentions an active mining permit and an approved environmental assessment. It gives no resource and no production history. The TSXV treats the deal as a fundamental acquisition, and WSK has 60 days of exclusive due diligence.

Advanced Gold: a non-binding MOU and 2020 metal prices

Advanced Gold Exploration (CSE: AUEX) signed a non-binding memorandum of understanding on September 30 to take over the Corcoran Canyon silver-gold property in Nye County, Nevada. It would assume about US$3.4 million of payments owed to the vendor, US$1.2 million of it by October 31, and issue 4,045,500 shares at $0.12.

The headline number is a historical inferred estimate of about 39.7 million ounces of silver equivalent. That estimate has an effective date of October 12, 2020 and used silver at US$17 an ounce and gold at US$1,460. The company says a qualified person has not done the work to treat it as current, and it is not treating it as current.

Zacatecas Silver and Guanajuato Silver: no spending required

Zacatecas Silver (TSXV: ZAC) can earn 100% of Guanajuato Silver's Lourdes project in Mexico for US$225,000 in cash and US$600,000 in shares over two years. There is "no minimum exploration expenditure commitment."

The royalties are the cost that lasts. Guanajuato keeps a 2% NSR, half of which can be bought back for US$1 million. An existing 3% NSR also sits on the ground, with 2% of it purchasable for US$2 million. Before any buyback, a future mine would pay 5% of net smelter returns in royalties.

Thistle Resources: one more line in a property release

Thistle Resources (TSXV: TRCG) added claims in New Brunswick's Bathurst camp without disclosing a price. The same release says it has hired Atrium Research for research coverage at $10,200 a quarter for 18 months. The release says Atrium is arm's length and holds no shares or options. Paid research is legal and disclosed here. Readers should weigh it accordingly.

Sources: Trojan Gold, October 2, 2026; WSK, October 2, 2026; Advanced Gold Exploration, October 2, 2026; Zacatecas Silver, October 5, 2026; Thistle Resources, September 30, 2026.