What Sirios Resources does

Sirios Resources Inc. is a Quebec-based mineral exploration company (TSX-V: SOI; OTCQB: SIREF) founded in 1994 by Dominique Doucet, focused exclusively on gold in the Eeyou Istchee James Bay region. The portfolio is anchored by the 100%-owned Cheechoo Gold Property, which carries an updated 2025 NI 43-101 Mineral Resource Estimate totaling 3.0 million ounces (1.3 Moz Indicated at 1.12 g/t Au and 1.7 Moz Inferred at 1.23 g/t Au, including a 446 Koz underground component at 3.09 g/t Au) at a low 2.9:1 strip ratio, and the Aquilon Gold Property held in joint venture with Sumitomo Metal Mining Canada (49% Sirios / 51% Sumitomo). Following the February 2026 acquisition of OVI Mining Corp., Sirios consolidated three district-scale assets under a single entity: Cheechoo, PLEX (21,000 ha, hosting the Orfée Zone), and Corvet Est (6,500 ha), plus grassroots projects Maskwa and Tilly. Core exploration technology comprises diamond drilling, Leapfrog Edge geological modeling, an in-house designed LIBS (Laser-Induced Breakdown Spectroscopy) unit for on-site drill core analysis, and a published interactive 3D geological model viewer.

Sirios is pre-revenue and generates no operating income. Value creation occurs through resource discovery and definition, with eventual monetization via asset sale, royalty, joint venture, or takeover by mid-tier or major miners. The company is funded through equity financings (most recently a fully-subscribed C$25 million brokered LIFE placement in March 2026 co-led by National Bank Capital Markets and MDCP Securities), flow-through share offerings, government grants (e.g., Société du Plan Nord road funding), and JV partner contributions (Sumitomo has invested over C$4.8 million to date on Aquilon). Gold Royalty Corp holds a royalty of up to 4% on Cheechoo and 1% on Aquilon as future monetization channels.

The company is positioned within the Osisko ecosystem: post-OVI closing, Osisko Development executives Sean Roosen and Laurence Farmer joined the board, Jean-Félix Lepage (former O3 Mining VP Projects and Newmont Éléonore operator) was appointed CEO, and founder Dominique Doucet moved to Executive Chairman and Head of Exploration. The combined entity is targeting a 35,000 m two-phase 2026 drilling campaign at Cheechoo, an updated resource estimate, and a Preliminary Economic Assessment in H1 2027, with a strategic intent to advance toward a production decision or strategic transaction.

Name

Sirios Resources

Legal name

Sirios Resources Inc.

Website

https://sirios.com

Company type

Public

Founded year

1994

Operating status

Operating

Headcount range

1–10 employees

Short description

Sirios Resources is a Quebec-based pre-revenue gold exploration company operating the 100%-owned Cheechoo flagship project (3.0 Moz resources) and additional district-scale assets (Aquilon JV with Sumitomo, PLEX, Corvet Est) in Eeyou Istchee James Bay, funded via equity financings and targeting monetization through strategic transactions.

Ownership category

akta.pro rank

Product category

Gold Mineral Exploration

NAICS

Gold Ore and Silver Ore Mining (21222)

SIC

Gold And Silver Ores (1040)

akta.pro primary industry

Gold Mining (IMAKAEAA)

akta.pro secondary industry

Precious Metals Ore Processing & Beneficiation (IMAKAEAD)

Keywords

• Gold exploration
• Mineral exploration
• Junior mining
• Mining exploration services
• Gold resource development

Headquarters

HQ city

Montréal

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Exploration Stage - No Operating Revenue: Sirios Resources is a pre-revenue mineral exploration company. It generates no income from operations. All activities are funded by equity financings, flow-through share offerings, government grants, and option/joint venture partner contributions. Value creation occurs through resource discovery and definition, with eventual monetization via asset sale, royalty, joint venture, or takeover by a mid-tier or major miner.
2. Royalty Revenue (Future): Upon development of its Cheechoo and Aquilon projects, Sirios could receive royalty income from NSR (Net Smelter Return) arrangements. Cheechoo carries a royalty of up to 4% to Gold Royalty Corp. Aquilon carries a 1% NSR to Gold Royalty Corp, in addition to Sumitomo's earn-in and joint venture structure.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels7 records

Core offering

Sirios Resources is a Quebec-based junior mineral exploration company that discovers, drills, and defines gold resources in the Eeyou Istchee James Bay region. Its flagship asset is the 100%-owned Cheechoo Gold Property, which contains 3.0Moz total resources (1.3Moz Indicated at 1.12 g/t Au and 1.7Moz Inferred at 1.23 g/t Au, including 446Koz of high-grade underground resources at 3.09 g/t Au). The portfolio also includes the Aquilon Gold Property (JV with Sumitomo Metal Mining Canada), the PLEX and Corvet Est properties acquired via OVI Mining Corp., and grassroots assets (Maskwa, Tilly). The company monetizes these assets through joint ventures, royalties, and eventual sale or takeover by mid-tier or major mining companies.

Product overview

Sirios Resources is a Quebec-based mineral exploration company operating as a single-product focused entity (not a platform-plus-modules architecture) with a portfolio of gold exploration projects in the Eeyou Istchee James Bay region. The flagship Cheechoo Gold Property (100%-owned) anchors the portfolio with 3.0Moz total resources, while the Aquilon Gold Property (51% JV with Sumitomo Metal Mining Canada) provides a second advanced-stage asset with exceptional high-grade intercepts. The Grassroots Projects include the Maskwa and Tilly properties for early-stage exploration, while the PLEX and Corvet Est properties were added through the February 2026 acquisition of OVI Mining Corp., creating a district-scale gold platform backed by Osisko expertise.

Differentiator

Problem solved

Functional benefit

Products and services

• Cheechoo Gold Property Sirios Resources' flagship 100%-owned gold exploration project located in Eeyou Istchee James Bay, Quebec. The property contains 1.3Moz of Indicated resources at 1.12 g/t Au and 1.7Moz of Inferred resources at 1.23 g/t Au, with dual potential for large-scale open-pit and high-grade underground mining. The project is located less than 15km from Dhilmar's Éléonore mine, with year-round road access, a 161kV power line 5km from the deposit, and access to underutilized mill infrastructure. Cheechoo carries an NSR royalty of up to 4% to Gold Royalty Corp. A 35,000m drilling campaign is planned for 2026.
• Aquilon Gold Property Advanced gold exploration project in joint venture with Sumitomo Metal Mining Canada, located in the Eeyou Istchee James Bay region of Quebec. After Phase 1 earn-in, the JV is structured as 49% Sirios / 51% Sumitomo, with Sirios as operator. The property has produced exceptional high-grade gold intercepts including 12,906.5 g/t Au over 0.2m. Aquilon carries a 1% NSR royalty to Gold Royalty Corp, in addition to Sumitomo's earn-in and joint venture structure.
• PLEX Property A 21,000-hectare district-scale gold exploration land package in the Eeyou Istchee James Bay region, acquired through the OVI Mining Corp. acquisition in February 2026. PLEX hosts the Orfée Zone with multiple structural corridors from surface and untested at-depth and along-strike potential.
• Corvet Est Property A 6,500-hectare district-scale gold exploration land package comprising a historically drilled at-surface gold system with numerous mineralized zones and significant untested potential, consolidated from Electric Elements Mining through the OVI Mining acquisition in February 2026.
• Maskwa Property

Quantifiable outcome

• 19% increase in open-pit indicated grade (0.94 g/t Au to 1.12 g/t Au) and 38% increase in open-pit inferred grade (0.73 g/t Au to 1.01 g/t Au) in the 2025 MRE versus 2022 MRE
• +4 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Five partnerships are on record, tiered core and minor.

• OVI Mining Corp.coreStrategic or Co-development Partner · 11 December 2025Sirios acquired OVI Mining Corp. via a court-approved plan of arrangement effective February 27, 2026. OVI shareholders received 2.34 Sirios shares per OVI share, resulting in issuance of ~131.9 million Sirios shares. The combination created a district-scale gold platform with three assets (Cheechoo, PLEX, Corvet Est) in Eeyou Istchee James Bay. Osisko Development executives Sean Roosen and Laurence Farmer joined Sirios' board. Jean-Félix Lepage became CEO. Dominique Doucet transitioned to Executive Chairman and Head of Exploration.
• Sumitomo Metal Mining CanadacoreStrategic or Co-development Partner · 14 December 2022Sumitomo Metal Mining Canada entered an option agreement with Sirios for the Aquilon gold project in December 2022. Sumitomo can earn an initial 51% interest by paying $200,000 and spending $4.6M on exploration within three years, with Sirios as operator receiving a 10% management fee. Sumitomo fulfilled Phase 1 requirements by investing over C$4.8 million, earning 51%. Sumitomo can earn an additional 29% (to 80%) by spending an additional $10M within six years. All future exploration is now jointly funded per JV proportions. Sirios retains a 1% NSR to Gold Royalty Corp.
• Gold Royalty Corp.minorOthersGold Royalty Corp. holds an NSR royalty of up to 4% on the Cheechoo project and a 1% NSR on the Aquilon project. Royalty companies provide upfront capital in exchange for production-linked revenue streams.
• PLR Resources Inc.minorImplementation/ SI/ Consulting PartnerPLR Resources Inc. (led by Pierre Luc Richard, P.Geo.) served as the independent consultant for the July 2025 Cheechoo Mineral Resource Estimate update, with contributions from Evomine (Stephen Coates, P.Eng.) for pit optimization and Synectiq (Christian Laroche, P.Eng.) for metallurgical parameters.
• Cree Nation of WemindjiminorOthersSirios maintains positive engagement with the Cree Nation of Wemindji. Road improvement work benefiting the Cheechoo project will also serve Wemindji community members traveling in the area. Sirios commits to conducting operations in partnership with Indigenous communities and promoting local economic development.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Newmont Corporation: Largest gold producer globally and operator of the Éléonore mine located <15km from Sirios' Cheechoo project. Sirios' CEO previously ran underground operations at Éléonore, and Newmont is a natural potential acquirer/partner given the shared regional infrastructure.
• IAMGOLD Corporation: Major intermediate gold producer with significant Québec operations including Côté Lake and Westwood. Provides a benchmark for what an operational James Bay gold mine looks like and represents a plausible strategic acquirer for advanced Sirios assets.
• Eldorado Gold Corporation: Mid-tier gold producer with the Lamaque operation in Québec's Abitibi. Demonstrates the production pathway for advanced-stage Québec gold explorers and is a potential consolidator in the region.
• Agnico Eagle Mines Limited: Senior Canadian gold producer with extensive Québec footprint including the LaRonde complex and Canadian Malartic JV (with Osisko). Operates in the same James Bay/Abitibi region and is a logical strategic acquirer of advanced-stage exploration assets.

Direct peers

• Bonterra Resources Inc. Québec gold explorer-developer focused on the Urban-Barry and Gladiator projects in the Abitibi. Comparable scale and stage, targeting similar gold mineralization styles and pursuing resource growth toward development.
• Osisko Development Corp. Osisko-ecosystem gold developer with assets in Québec and broader Canada, chaired by Sean Roosen (Sirios director). Closely linked operationally and strategically to Sirios via shared leadership and shared investor base, and pursues a similar exploration-to-development pathway in tier-1 Canadian jurisdictions.
• Probe Gold Inc. Québec-focused gold explorer-developer with the Novador project in the Abitibi region. Similar business model: resource expansion, PEA-level studies, and targeting mid-tier acquirers in the same province.
• O3 Mining Inc. Québec-focused gold exploration and development company advancing the Marban project; Sirios' CEO Jean-Félix Lepage was previously VP of Projects at O3 Mining. Both companies pursue open-pit and underground gold development in the Abitibi/James Bay region.
• Wallbridge Mining Company Ltd. Québec-focused gold explorer-developer with the Martiniere/Bug Lake projects in the Abitibi. Similar size, stage, and jurisdiction profile, with comparable reliance on flow-through financings and mid-tier M&A optionality.

Others

• Gold Royalty Corp. Royalty company that already holds up to 4% NSR on Cheechoo and 1% on Aquilon. Sits ahead of Sirios equity in the project capital stack and is a direct counterparty influencing Sirios' takeout economics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xtwitter.com/siriosresources
• YouTubeyoutube.com/channel/UC7ycC宣告
• Facebookfacebook.com/100008141593492
• LinkedInlinkedin.com/company/5313361

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries1 record

Funding overview

Funding rounds38 records

Investors8 records

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

M&A1 record

Investments

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

Frequently asked questions about Sirios Resources