Deal Check: StrikePoint now owns Northumberland. Newmont gets up to US$120 million, and the new shareholders get 93% of the company

StrikePoint Gold (TSXV: SKP) closed its purchase of the Northumberland gold project in Nevada from Newmont on October 6, and its shares resumed trading on October 8. Its October 8 headline uses the words "Tier-One." Here are the terms.

What Newmont gets

• US$70 million in cash at closing
• US$25 million within 120 days of a feasibility study
• US$25 million on commercial production milestones

That is up to US$120 million in total, by our arithmetic. Newmont takes no StrikePoint shares.

How it was paid for

StrikePoint sold 95,000,000 subscription receipts at C$2.00, for C$190 million. Tembo bought 20,300,000 of them, about 19.9% of the company, and separately paid US$10 million for a 0.5% net smelter return royalty, half of which can be bought back for US$25 million.

Before the deal, StrikePoint consolidated its shares one for ten, leaving about 7.24 million shares. After the receipts converted, there are about 102.2 million. By our arithmetic, the new money now owns about 93% of the company. The release says Tembo, Ithaki and Blackrock together hold more than 40%. StrikePoint expects about C$90 million of working capital after closing.

What the deposit is

The July 31, 2026 resource, prepared by SLR Consulting:

Category	Tonnes	Grade	Ounces
Indicated	67.0 million	1.26 g/t	2.71 million
Inferred	31.0 million	about 1.5 g/t	1.52 million

There is no reserve. The resource uses US$3,500 gold. It is built on 1,548 historical drill holes, and there has been no exploration on the project since about 2010. StrikePoint itself has not drilled it.

The tier-one claim

The release uses "tier-one" for the jurisdiction, and Nevada earns it. The project has 4.2 million ounces of resource, no reserve, no study under the new owner and no drilling in about 16 years.

What to watch

The first StrikePoint drill program, and the feasibility study that triggers the next US$25 million to Newmont.

Sources: StrikePoint Gold, October 6, 2026; StrikePoint Gold, October 8, 2026; StrikePoint Gold, September 29, 2026.