Minaurum Gold

What Minaurum Gold does

Minaurum Silver Inc. (formerly Minaurum Gold Inc.), ticker MGG on TSX Venture, MMRGF on OTCQX and 78M on Frankfurt, is a Canadian-domiciled, publicly-listed mineral exploration and discovery developer headquartered in Vancouver, British Columbia. The company's product offering is a portfolio of district-scale precious and base metals exploration projects in Mexico and the United States, advanced through conventional geological mapping, airborne and ground geophysics (VTEM-magnetometry), soil and rock-chip sampling, diamond core drilling, QA/QC-assayed sampling at ALS Chemex and ActLabs, preliminary metallurgical flotation testing, and NI 43-101 compliant resource estimation. The flagship is the 100%-owned Alamos Silver Project in Sonora, Mexico, covering 37,928 hectares across 14 concessions under a 30-year SEMARNAT MIA mining permit, hosting an initial inferred mineral resource of 55 Moz AgEq at 320 g/t AgEq across 3 of 26 identified vein zones, with a Phase II 50,000 m resource expansion drill program underway using up to six drill rigs and targeting an updated resource in H2 2026. The wider portfolio includes the Adelita Cu-Au-Ag project (1% NSR royalty retained), Aurena gold skarn, Aurifero Au-Ag epithermal, Biricu gold, Santa Marta Cu-Au VMS, Taviche Ag-Au epithermal projects in Mexico, and the newly-acquired Lone Mountain Zn-Pb-Ag-Au CRD project in Nevada.

The business model is that of a project generator / discovery developer: the company advances district-scale assets through to a NI 43-101 compliant resource or PEA and intends to monetize them via outright sale, joint venture, or spin-out into new exploration pure-plays, rather than building and operating mines itself. End-buyers of these advanced-stage assets are mid-tier and senior mining companies operating in the Sierra Madre and adjacent belts (examples cited include Pan American Silver, Cobre Del Mayo and SilverCrest/Coeur Mining). The company is pre-revenue, funded through repeated equity raises (tens of millions of CAD between 2020 and March 2026, including a C$25M brokered placement in December 2025), holds approximately C$20M in treasury with no debt, and has a market capitalization of approximately C$166M (TSX.V listing snapshot) to US$200M (Investor Hub reference). Shareholders are approximately 70% institutional and high-net-worth (Sprott Asset Management, BMO Global Resource Fund, Phoenix Gold Fund, Pala Investments, L1 Capital, US Global Investors, Muddy Waters and others), 25% retail, and 5% management. Go-to-market is event-driven: drill results, resource updates, regulatory milestones and conference participation (PDAC, Beaver Creek, Canaccord, Red Cloud) drive news flow to a multi-exchange retail and institutional audience.

Name

Minaurum Gold

Legal name

Minaurum Silver Inc.

Website

https://minaurum.com

Company type

Public

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

Minaurum Silver Inc. (formerly Minaurum Gold Inc.) is a Vancouver-based, pre-revenue mineral exploration and discovery developer advancing district-scale silver, gold and base-metals projects in Mexico and the USA, with its flagship Alamos Silver Project in Sonora hosting an initial 55 Moz AgEq inferred resource under a 30-year mining permit, intended for future monetization through sale, joint venture, or spin-out.

Ownership category

akta.pro rank

Product category

Mineral Exploration

NAICS

Gold Ore and Silver Ore Mining (21222), Other Metal Ore Mining (212290)

SIC

Gold And Silver Ores (1040), Metal Mining (1000)

akta.pro primary industry

Silver Mining (IMAKAEAB)

akta.pro secondary industries

Precious Metals Exploration & Project Development (IMAKAEAI), Precious Metals Ore Processing & Beneficiation (IMAKAEAD)

Keywords

• Silver gold exploration
• Mineral resource exploration
• Epithermal vein drilling
• Precious metals discovery
• Mineral project development

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Net Smelter Return Royalty (Adelita Project): Minaurum retains a 1% net smelter return (NSR) royalty on all minerals extracted from the Adelita Copper-Gold-Silver Project. Royalty is passive, ongoing revenue from third-party production.
2. Pre-revenue exploration stage: Company is currently a pre-revenue mineral exploration and discovery developer. No commercial mineral production or product sales. Revenue model is intended to eventually include monetization of advanced projects through sale or spin-out ('Spinco') into new exploration pure-plays.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels7 records

Core offering

Minaurum Silver Inc. (formerly Minaurum Gold Inc.) is a pre-revenue mineral exploration and discovery developer. The company advances district-scale silver, gold, and base metals exploration projects through geological mapping, geophysics, drilling, metallurgical testing, and NI 43-101 resource estimation. Its flagship Alamos Silver Project in Sonora, Mexico hosts an initial inferred resource of 55 Moz AgEq grading 320 g/t AgEq. The company monetizes advanced projects through sale or spin-out ("Spinco") into new exploration pure-plays.

Product overview

Minaurum (formerly Minaurum Gold Inc., rebranded to Minaurum Silver Inc. in December 2025) operates as a precious metals "Discovery Developer." Its product offering is a portfolio of district-scale exploration projects in Mexico and the United States, advanced through geological mapping, geophysics, sampling, drilling, metallurgical testing, and NI 43-101 resource estimation. The flagship Alamos Silver Project in Sonora, Mexico is its primary focus, supported by earlier-stage and optioned/royalty assets including the Adelita copper-gold-silver project (1% NSR royalty), the Aurena gold skarn project, the Aurifero gold-silver epithermal project, the Biricu gold project, the Santa Marta copper-gold VMS project, the Taviche silver-gold project, the Lone Mountain zinc-lead-silver-gold CRD project in Nevada, and the Vuelcos del Destino gold skarn target. The company's business model is to advance each project through to a NI 43-101 resource or PEA and then monetize via sale or spin-out into a new exploration "Spinco" pure-play.

Differentiator

Problem solved

Functional benefit

Products and services

• Alamos Silver Project 100%-owned flagship epithermal vein silver project in Sonora, Mexico, covering 37,928 hectares across 14 mining concessions. Hosts an initial inferred mineral resource of 55 Moz AgEq grading 320 g/t AgEq, with a Phase II 50,000 m resource expansion drill program underway and an updated resource targeted for H2 2026. Permitted for production via a SEMARNAT MIA permit.
• Adelita Project (1% NSR Royalty) Copper-gold-silver skarn and porphyry project in southern Sonora, Mexico, on which Minaurum retains a 1% net smelter return royalty. Historical drilling at the Cerro Grande target returned intercepts including 201.4 m of 0.52% Cu and 105.2 m of 1.03% Cu, with 300 m of vertical continuity demonstrated.
• Aurena Project Gold skarn project in southern Oaxaca, Mexico covering 1,035 hectares. Drilling (19 core holes totaling 7,058 m) outlined two gold zones open at depth along a 1.8 km strike length, with highlights including 29.05 m of 1.99 g/t Au and 43.50 m of 1.01 g/t Au.
• Aurifero Project Gold-silver epithermal vein project in Sonora, Mexico, 35 km northwest of the Alamos Silver Project. Hosts a 3 km-long NW/SE-trending zone of veins with historical drill highlights including 58 m of 3.65 g/t Au and 24.50 m of 3.12 g/t Au. Under option to acquire 100% interest.
• Biricu Project Gold project in the Guerrero Gold Belt, Guerrero, Mexico, covering 41,464 hectares. Historical drilling at the Punto Rojo target returned 26.98 m of 1.07 g/t Au including 6.85 m of 2.78 g/t Au. Adjacent to the Los Filos-Bermejal-Nukay gold mines.
• Santa Marta Project Copper-gold volcanogenic massive sulfide (VMS) project in eastern Oaxaca, Mexico, covering 6,410 hectares. Historic small open-pit production in the 1960s averaged several percent copper with up to 2 g/t Au. Sampling returned 25 m averaging 1.1% copper and a silica-rich horizon of 0.8 to 1.0 g/t gold across widths of up to 4 metres.
• Taviche Project Silver-gold epithermal project in Oaxaca, Mexico covering 986 hectares. Hosts the 7 km-long Higo Blanco jasperoid trend with drill highlights including 34.2 m of 211.7 g/t Ag, 36.6 m of 292.3 g/t Ag, and 25.3 m of 0.79 g/t Au.
• Lone Mountain Project High-grade carbonate replacement deposit (CRD) project in Nevada, USA, covering 1,850 hectares on the Battle Mountain-Eureka trend. Historic inferred mineral resource estimate of 3,257,000 tonnes grading 7.57% Zn and 0.70% Pb (543 M lbs zinc); historic PEA demonstrated 35% after-tax IRR. Drill highlights include 118.87 m of 9.58% Zn and 24.7 m of 23.06% Zn.
• Vuelcos del Destino Project Gold skarn exploration target in the Guerrero Gold Belt, Mexico. Described as the largest single untested gold skarn target intrusive complex in the region measuring 12 sq km, identified through surface sampling by late co-founder David M. Jones.

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

26 partnerships are on record, tiered major, minor and core.

• Infinitum CoppermajorStrategic or Co-development PartnerFormer joint venture partner at the Adelita Copper-Gold-Silver Project in Sonora, Mexico. JV partner commenced drill program completing 12 holes totaling 2,574 meters at Cerro Grande skarn target. Agreement consolidated through 2025 transactions enabling Algo Grande Copper (formerly Kenadyr Metals) to secure full ownership of the project. Minaurum retains a 1% NSR royalty on all minerals extracted from Adelita.
• Fortuna Silver MinesminorStrategic or Co-development PartnerOption agreement announced January 7, 2021 with Fortuna Silver for one of Minaurum's portfolio projects. Fortuna also operates the neighboring San Jose mine in the Taviche district (Oaxaca, Mexico).
• ASR Resources Corp.minorStrategic or Co-development PartnerJoint venture partner on the Adelita Copper-Gold Project; agreement signed March 9, 2021 giving Minaurum a strategic interest in ASR Resources Corp.
• Aurifero Project Optionor (Local Mexican Counterparty)minorOEM/ Whitelabel/ Licensing PartnerOption agreement to acquire 100% interest in the Aurifero gold project in Sonora, Mexico; project terms include completing cash payments of CDN $2,686,000 over 96 months. Originally acquired January 29, 2020.
• Aurifero Project (Land Consolidation)minorStrategic or Co-development PartnerMinaurum consolidated the land package at the Aurifero Gold Project (announcement November 6, 2024), building on the original acquisition of the high-grade gold project.
• Lowell Mineral Exploration (David Lowell)minorStrategic or Co-development PartnerDefinitive option agreement signed March 25, 2014 (originally entered December 2013) on the Santa Marta copper-gold VMS project. Lowell provided geological assessment indicating potential for multi-million-tonne copper-zinc-gold ore-body.
• Nevada Zinc (Lone Mountain Optionor)majorOEM/ Whitelabel/ Licensing PartnerDefinitive agreement signed October 2, 2024 to acquire the Lone Mountain CRD Project in Nevada's Battle Mountain-Eureka trend. Option exercised June 3, 2025 and closing announced June 25, 2025. Project includes historic Mountain View Mine with inferred resource of 3,257,000 tonnes grading 7.57% Zn and 0.70% Pb, and a PEA demonstrating 35% after-tax IRR. Includes 85 RC and 13 core holes totaling 14,407m of historical drilling.
• Guerrero Ventures (Biricu Project)minorStrategic or Co-development PartnerExploration work supervised by late director David M. Jones, including geological mapping, soil/rock-chip geochemical sampling, airborne VTEM-magnetics survey, and a 21-hole 9,587-m core drilling program from 2012-2016. Loan agreement of $770,000 (November 2015) to fund Biricu exploration; project terms renegotiated January 2021.
• Aura Resources (Taviche JV)minorStrategic or Co-development PartnerIntrepid Mines and Aura Silver Resources entered into a joint-venture agreement with Pan American Silver on the Taviche project in 2006; Aura Resources took over the joint venture in 2010. 35-hole, 7,987m diamond drilling program conducted. Modern exploration results include 12.1m of 533.4 g/t AgEq in hole HBET03-09 and 36.6m of 303.9 g/t AgEq in HBET16-09.
• Independent Mining Consultants, Inc. (IMC)coreImplementation/ SI/ Consulting PartnerEngaged June 25, 2024 to prepare the Mineral Resource Estimate at Alamos Silver Project. Independent QP Michael G. Hester, FAusIMM (Vice President of IMC) prepared the NI 43-101 compliant inferred resource estimate of 55 Moz AgEq with effective date January 8, 2026. Independent QP visited the Alamos project on two occasions (September 3-5, 2024 and November 18, 2025). Also prepared Technical Report dated February 17, 2026 filed on SEDAR+.
• Geocon Enterprises Inc. (Lorne M. Warner)coreImplementation/ SI/ Consulting PartnerCo-author of the independent NI 43-101 technical report on the Alamos Silver Project dated February 17, 2026 (effective date January 8, 2026), filed on SEDAR+.
• DuMoulin Black & Co. LLPcoreImplementation/ SI/ Consulting PartnerCorporate solicitor; located at 10th Floor - 595 Howe Street, Vancouver BC V6C 2T5. Provides legal counsel for Minaurum Silver Inc.
• Dorsey & WhitneyminorImplementation/ SI/ Consulting PartnerUS legal counsel; located at 1400 Wewatta St # 400, Denver, CO 80202.
• Davidson & Co. LLPcoreImplementation/ SI/ Consulting PartnerCorporate auditors; located at 1200 - 609 Granville Street, Vancouver BC V7Y 1G5.
• TSX Trust Co.coreImplementation/ SI/ Consulting PartnerCanadian transfer agent; located at 2700 - 650 West Georgia Street, Vancouver BC V6B 4N9. Phone +1 416 342 1091.
• Continental Stock TransfercoreImplementation/ SI/ Consulting PartnerUS transfer agent; located at 1 State Street 30th Floor, New York, NY 10004-1561. Phone +1 212 509 4000.
• ATB Cormark Capital Markets Corp.minorStrategic or Co-development PartnerEquity research analyst coverage (Nicolas Dion) for Minaurum Silver Inc.; also serves as lead agent for brokered private placements (e.g., C$25M December 2025 offering).
• Beacon Securities Ltd.minorStrategic or Co-development PartnerEquity research analyst coverage (Michael Curran) for Minaurum Silver Inc.
• Red Cloud (Oktoberfest Conference)minorGTM or Marketing PartnerParticipated in Red Cloud's 2021 Oktoberfest Conference (announcement October 13, 2021).
• Adnet Communications (Website Developer)minorImplementation/ SI/ Consulting PartnerBuilt Minaurum corporate website (minaurum.com); credited as 'Website by Adnet' on site footer.
• Marketing Firms (Digital/IR Marketing)minorGTM or Marketing PartnerMultiple digital/IR marketing firm engagements and renewals to expand retail and institutional shareholder audience (April 2021 initial engagement; May 2025 and September 2025 renewals).
• Major Drilling Group InternationalmajorImplementation/ SI/ Consulting PartnerDrilling contractor for the Alamos Silver Project Phase II resource expansion drill program (50,000 meters, six drill rigs mobilized). Also contractor referenced for the Adelita project Phase II drilling.
• ALS Chemex (Hermosillo/North Vancouver)coreImplementation/ SI/ Consulting PartnerPrimary laboratory services provider for drill sample preparation (Hermosillo, Mexico) and analysis (North Vancouver, BC, Canada). Approximately 92% of drill samples were submitted directly to ALS Chemex for preparation and analysis.
• ActLabs (Zacatecas)minorImplementation/ SI/ Consulting PartnerSecondary laboratory services provider; during 2024, the Company sent drill samples to ActLabs' facility in Zacatecas, Mexico, for preparation and analysis (approximately 8% of total drill samples).
• Pan American Silver (Alamo Dorado neighboring operator)minorStrategic or Co-development PartnerPan American Silver's Alamo Dorado silver mine lies 45 km northwest of Minaurum's Alamos Silver Project and 5 km east of the Adelita project boundary. Nearby operating mine providing district context.
• Cobre Del Mayo (Piedras Verdes neighboring operator)minorStrategic or Co-development PartnerCobre Del Mayo's Piedras Verdes porphyry copper mine lies 15 km south of the Alamos Silver Project and 60 km northwest of Adelita. Major employer in the Alamos area; one of the largest employers and a key regional infrastructure anchor.

Scale indicators13 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Coeur Mining, Inc. US-based silver-gold producer that acquired SilverCrest Metals (Las Chispas) for $1.7B in 2025. Comparable as a senior acquirer of high-grade Mexican silver-gold assets and as a strategic neighbor to Minaurum's Alamos district.
• Pan American Silver Corp. Major silver producer operating the Alamo Dorado mine 45 km northwest of Minaurum's Alamos project. Acquired MAG Silver (Juanicipio) for $2.1B in 2022 and is the most logical senior acquirer for a permitted district-scale Mexican silver asset.
• Fortuna Silver Mines Inc. Mid-tier silver-gold producer operating the San Jose mine in Oaxaca, Mexico (adjacent to Minaurum's Taviche project and option partner). Comparable Mexican operating footprint and identified as a logical strategic acquirer of Minaurum assets.
• First Majestic Silver Corp. Mid-tier silver producer operating multiple Mexican mines (San Dimas, Santa Elena, La Encantada). Comparable as a senior Mexican silver operator that could acquire district-scale exploration assets similar to Minaurum's Alamos project.

Direct peers

• Gatos Silver, Inc. Operator of the Cerro Los Gatos silver-zinc-lead mine in Chihuahua, Mexico. As a silver-focused Mexican operator with NI 43-101 resources and an active exploration pipeline, Gatos Silver offers a direct comparable for a Mexican silver producer/developer at similar scale.
• IMPACT Silver Corp. Mexican silver producer that CEO Darrell Rader helped transform from a grass-roots explorer into a profitable silver miner. Operates the Royal Mines of Zacualpan in Mexico; provides a model for Minaurum's 'Discovery Developer' production pathway.
• MAG Silver Corp. Mexican-focused silver explorer whose flagship Juanicipio deposit was co-discovered by Minaurum co-founder Dr. Peter Megaw and is operated by Fresnillo plc. Minaurum's senior technical team has direct lineage to MAG Silver's exploration success.
• SilverCrest Metals Inc. Pre-acquisition developer of the Las Chispas high-grade silver-gold epithermal deposit in Sonora, Mexico (now owned by Coeur Mining). Minaurum Senior Project Manager Ruben Molina was previously Senior Resource Modeler/Prospects Manager at SilverCrest, making it a directly comparable district-scale Mexican silver developer.
• Defiance Silver Corp. Mexican silver explorer founded by Minaurum CEO Darrell Rader. Closely comparable in business model (district-scale silver exploration in Mexico), stage (junior developer with NI 43-101 resources), and management lineage.
• Avino Silver & Gold Mines Ltd. Mexican-focused silver-gold producer-developer operating the Avino mine in Durango, Mexico. Comparable as a small-cap silver developer with active drilling, district-scale land position, and similar TSX-listed junior profile.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCrMWo8Slq2f0TrtfHyhjn_g
• Xx.com/MinaurumSilver
• Facebookfacebook.com/Minaurum
• LinkedInlinkedin.com/company/minaurum-silver-inc

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds6 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Minaurum Gold