MAS Gold
MAS Gold Corp. is a Canadian mineral exploration company advancing five gold deposits in Saskatchewan's La Ronge Gold Belt under a Hub and Spoke mining model, targeting 1.5 million ounces of gold resources across roughly 35,175 hectares for TSX-V-listed investors.
- Company typePublic
- Founded2010
- HeadquartersVancouver, Canada
- Headcount1–10
- GTM typeB2B
- OfferingServices
What MAS Gold does
MAS Gold Corp. (formerly Masuparia Gold Corporation) is a Canadian mineral exploration company focused on advancing gold properties in the La Ronge Gold Belt of northern Saskatchewan. The company controls approximately 35,175 hectares across four properties — Preview North (13,870 hectares), Greywacke Lake (16,078 hectares), Elizabeth Lake, and Henry Lake — hosting five NI 43-101 compliant gold deposits: North Lake (Indicated 389,000 oz Au, Inferred 95,000 oz Au), Preview SW (Indicated 273,000 oz Au, Inferred 263,000 oz Au), Greywacke North (Indicated 101,000 oz Au, Inferred 55,000 oz Au), Contact Lake (a former Cameco producer from 1994-1997 with existing underground infrastructure), and Point, plus the earlier-stage Elizabeth Lake copper-silver-zinc Besshi-type VMS deposit. The strategic concept is a "Hub and Spoke" mining architecture in which North Lake serves as the centralized processing hub while Preview SW, Greywacke North, Contact Lake, and Point act as satellite deposits feeding commingled ore to the central facility; metallurgical testing has returned positive results, including an 88% recovery rate at North Lake and 94% combined cyanidation + gravity recovery at Greywacke North, and the company is targeting a total of approximately 1.5 million ounces of gold resources across the portfolio.
MAS Gold is pre-revenue and does not generate operating cash flow; it funds exploration through equity issuances, including a CAD 1.8 million rights offering at CAD 0.01 per share completed in September 2023 and several non-brokered private placements during 2022 (CAD 3.0M in May, CAD 2.075M in June, CAD 1.5M in November, CAD 0.181M in December). The company is listed on the TSX Venture Exchange (MAS), OTCQB (MSGCF), and Frankfurt (63G), with a market capitalization of approximately CAD 14.0 million as of July 31, 2022 based on 200,594,458 shares outstanding at CAD 0.07. The customer base effectively consists of retail and institutional investors buying equity securities rather than purchasers of a product or service. A November 2022 Memorandum of Understanding with Kitsaki Management Limited Partnership — the economic development arm of the Lac La Ronge Indian Band — provided Indigenous social license to operate, brought a CAD 150,000 convertible note investment, and granted Kitsaki the right to nominate one director. The management team is led by Executive Chairman Ronald K. Netolitzky (associated with three prior major Canadian gold discoveries: Eskay Creek, Snip, and Brewery Creek) and CFO Karen Frisky; CEO Jim Engdahl resigned effective May 1, 2023, with Netolitzky assuming the Interim CEO role. In December 2024 the company filed a Management Information Circular for a Special Meeting of Shareholders to approve a proposed three-way business combination with Rockridge Resources and Eros Resources.
MAS Gold firmographics
Firmographics- Name
- MAS Gold
- Legal name
- MAS Gold Corp.
- Website
- https://masgoldcorp.com
- Company type
- Public
- Founded year
- 2010
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- MAS Gold Corp. is a Canadian mineral exploration company advancing five gold deposits in Saskatchewan's La Ronge Gold Belt under a Hub and Spoke mining model, targeting 1.5 million ounces of gold resources across roughly 35,175 hectares for TSX-V-listed investors.
- Ownership category
- akta.pro rank
MAS Gold industry classification
Industry- Product category
- Gold Exploration and Mineral Resource Development
- NAICS
- Gold Ore and Silver Ore Mining (21222)
- SIC
- Gold And Silver Ores (1040)
- akta.pro primary industry
- Gold Mining (IMAKAEAA)
Keywords
Where MAS Gold is headquartered
LocationHeadquarters
- HQ city
- Vancouver
- HQ country
- Canada
- HQ region
- North America
Offices1 record
Markets served
MAS Gold business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Technology or R&D, Personnel, Supply Chain, Others
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Multi-year contract | Rights Offering at $0.01 per Common Share |
Distribution channels4 records
Marketing channels6 records
MAS Gold product offering
Product offeringCore offering
MAS Gold Corp. is a Canadian gold exploration company operating a portfolio of five advanced gold deposits and additional exploration properties totaling approximately 35,175 hectares in the La Ronge Gold Belt of northern Saskatchewan. The company employs a Hub and Spoke mining concept, with the North Lake Deposit designated as the centralized processing hub and satellite deposits (Preview SW, Greywacke North, Contact Lake, Point) serving as spokes for cost-effective commingled ore processing. Combined NI 43-101 compliant mineral resources target approximately 1.5 million ounces of gold, with the company currently pre-revenue and advancing through exploration and resource definition stages.
Product overview
MAS Gold Corp. is a Canadian gold exploration company operating a multi-deposit portfolio in the La Ronge Gold Belt, Saskatchewan, built around a Hub and Spoke mining concept. The core offering is the North Lake Gold Deposit (Hub), which serves as a centralized processing facility where ore from multiple satellite deposits (Spokes) - Preview SW, Greywacke North, Contact Lake, and Point - would be commingled for cost-effective processing. The portfolio also includes exploration-stage properties (Elizabeth Lake VMS deposit, Henry Lake) totaling approximately 33,843-35,175 hectares across four properties. The company has five advanced gold deposits with combined NI 43-101 compliant mineral resources targeting approximately 1.5 million ounces of gold. Additionally, MAS Gold has a strategic partnership with Kitsaki Management (Lac La Ronge Indian Band) for exploration in the La Ronge Greenstone Belt.
Differentiator
Problem solved
Functional benefit
Products and services
- North Lake Gold Deposit The flagship gold deposit serving as the central Hub in MAS Gold's Hub and Spoke model, located 70 km northeast of La Ronge with direct Highway 102 access. Hosts an Indicated Mineral Resource of 13.8 MT @ 0.88 g/t Au (389,000 oz) and Inferred Resource of 3.6 MT @ 0.82 g/t Au (95,000 oz), with metallurgical recovery of 88% using gravity or cyanide methods.
- Preview SW Gold Deposit Gold deposit within the Preview North Property serving as a spoke in the Hub and Spoke model, located approximately 40 km northeast of La Ronge. Contains Indicated Resource of 5.457 MT @ 1.56 g/t Au (273,000 oz) and Inferred Resource of 5.852 MT @ 1.40 g/t Au (263,000 oz).
- Greywacke North Gold Deposit
Quantifiable outcome
- 88% metallurgical recovery rate at North Lake deposit using gravity or cyanide recovery methods
- +2 more outcomes
Companies that use MAS Gold
Customer profileSegments1 record
Ideal customer profiles2 records
MAS Gold technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
MAS Gold partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core, minor and flagship.
- Rockridge Resources and Eros ResourcescoreMAS Gold filed a Management Information Circular for a Special Meeting of Shareholders to approve a business combination with Rockridge Resources and Eros Resources. This represents a potential merger to consolidate assets in the La Ronge Gold Belt.
- Red Cloud Securities Inc.minorRed Cloud Securities Inc. acted as finder for the non-brokered private placement offering, receiving a 6% cash commission and 6% finder warrants on proceeds from securities sold to purchasers sourced by Red Cloud.
- Kitsaki Management Limited PartnershipflagshipMAS Gold signed a non-binding Memorandum of Understanding with Kitsaki Management Limited Partnership, the economic development arm of the Lac La Ronge Indian Band. Kitsaki will invest $150,000 as a convertible 5-year note and receive compensation for services including potential share issuance. Kitsaki gains the right to appoint one director to MAS Gold's Board. This partnership provides Indigenous community support and social license essential for exploration activities in the La Ronge Gold Belt.
- Eros Resources Corp.minorOption agreement where Eros Resources could earn a 17.5% interest in some of MAS Gold's properties. The transaction required TSX Exchange approval and shareholder vote, with valuation by Evans & Evans Inc.
Scale indicators14 records
Recent moves6 records
Expansion highlights5 records
MAS Gold competitors and assessment
Company assessmentDirect peers
- Rockridge Resources: Direct peer exploring in the same La Ronge Gold Belt of Saskatchewan; MAS Gold, Rockridge, and Eros Resources are actively pursuing a three-way business combination announced December 2024.
- Treasury Metals: Canadian junior gold developer at a more advanced PEA/FS stage; useful comparable for assessing MAS Gold's path from resource to development.
- SKRR Exploration: Junior exploration company with gold projects in Saskatchewan, including the nearby Leland property; directly comparable on jurisdiction, stage, and commodity focus.
- Eros Resources Corp. Direct peer and pending merger counterparty; Eros previously held a 17.5% option interest in some MAS Gold properties and is combining with MAS to consolidate La Ronge Gold Belt assets.
- Golden Band Resources: Historic La Ronge Gold Belt operator whose prior exploration data MAS Gold leverages; direct comparable on jurisdiction, geology, and stage.
- Major Precious Metals Corp. Saskatchewan-focused gold and precious metals explorer comparable in size and stage; same jurisdiction proximity to the La Ronge Gold Belt.
Broad incumbents
- Argonaut Gold: Junior-to-mid gold producer with Canadian assets in Ontario; useful comparable for the MAS Gold Hub and Spoke model at production stage.
- SSR Mining: Mid-tier diversified precious metals producer with Canadian gold exposure; provides M&A multiple reference data for consolidators potentially acquiring La Ronge district assets.
- Wesdome Gold Mines: Mid-tier Canadian gold producer operating in Ontario; provides benchmark for what a profitable multi-deposit Canadian gold operator looks like at scale, including valuation comparables.
Emerging players
- Brunswick Exploration: Canadian junior explorer active in Saskatchewan critical minerals; comparable stage and exchange listing as a TSX-V peer for capital markets behavior, though focused on lithium/critical minerals rather than gold.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
MAS Gold social profiles
Digital presenceMAS Gold financial estimates
Financial estimateRevenue estimate
Valuation estimate
MAS Gold leadership team
Management profileNumber of profiles
Profiles5 records
MAS Gold funding detail
Funding detailFunding overview
Funding rounds3 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
MAS Gold M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about MAS Gold
What does MAS Gold do?
MAS Gold Corp. is a Canadian gold exploration company operating a portfolio of five advanced gold deposits and additional exploration properties totaling approximately 35,175 hectares in the La Ronge Gold Belt of northern Saskatchewan. The company employs a Hub and Spoke mining concept, with the North Lake Deposit designated as the centralized processing hub and satellite deposits (Preview SW, Greywacke North, Contact Lake, Point) serving as spokes for cost-effective commingled ore processing. Combined NI 43-101 compliant mineral resources target approximately 1.5 million ounces of gold, with the company currently pre-revenue and advancing through exploration and resource definition stages.
Is MAS Gold a public or private company?
MAS Gold is a public company. It is classified as public and is currently operating.
When was MAS Gold founded?
MAS Gold was founded in 2010. It employs 1 to 10 people.
Where is MAS Gold based?
MAS Gold is headquartered in Vancouver, Canada, in the North America region.
Who are MAS Gold's main competitors?
Direct peers on record are Rockridge Resources, Treasury Metals, SKRR Exploration, Eros Resources Corp., Golden Band Resources and Major Precious Metals Corp.. Broad incumbents are Argonaut Gold, SSR Mining and Wesdome Gold Mines. Brunswick Exploration is listed as an emerging player.
Does MAS Gold have an API?
No public API is recorded for MAS Gold.
What industry is MAS Gold in?
MAS Gold's product category is Gold Exploration and Mineral Resource Development. Its primary akta.pro industry code is IMAKAEAA, Gold Mining. Its NAICS code is 21222 and its SIC code is 1040.