Legacy Gold Mines

What Legacy Gold Mines does

Legacy Gold Mines Ltd. (TSXV: LEGY) is a Canadian gold exploration and development company headquartered in Calgary, Alberta, with its principal asset being the Baner Gold Mine Property in Idaho County, Idaho, USA. Founded in 2024, the company holds a 3-year option agreement with Champion Electric Metals Inc. to acquire a 100% undivided interest in the mineral claims comprising the Baner Property, located within the historic Orogrande Gold Mining District where approximately 9.3 million ounces of gold have historically been recovered from area rivers. Legacy Gold conducts surface exploration using diamond (core) and reverse circulation (RC) drilling methodologies, targeting gold mineralization along the Orogrande shear structure under a proprietary geological model with a flatter east-dipping interpretation of mineralized zones.

The company's core product offering consists of exploration drilling services and an NI 43-101 compliant technical report documenting exploration results and resource estimates at the Baner Property. Following a successful 2025 drill program of 16 RC holes totaling 2,743 metres, the company announced an initial exploration target of 50.3-55.3 million tonnes at 0.72-0.91 g/t Au, with gold mineralization identified over a 2,300-metre north-south extent across multiple target zones (Main, NE, Northwest, and the east-west Baner vein system). Notable intersections include 0.55 g/t Au over 187.5m (the thickest on the property) and high-grade intervals up to 6.7 g/t Au over 4.6m; the deposit remains open in all directions. A 40,000-foot 2026 drill program is now underway, with metallurgical testing (RDI) and a June 2026 MT geophysical survey scheduled.

Legacy Gold is pre-revenue and generates no operating cash flow. Its funding model relies entirely on equity raises through non-brokered private placements of common shares, most recently completing a C$10 million offering in April 2026 (33,333,333 shares at C$0.30 per share), giving a cash position of approximately C$8.3 million and a market capitalization near C$60 million on 61.1 million shares outstanding. The company targets institutional and retail mining investors through investor relations (WIN Expertise Inc.), market-making (Independent Trading Group), and conference participation (PDAC 2026). The management team features co-founders of Kirkland Lake Gold — Brian Hinchcliffe (Chairman & CEO) and Mike Sutton (VP Exploration, 40+ years, Prospector of the Year awardee) — alongside board members drawn from PwC's global mining practice, Wesdome Gold Mines, IAMGOLD, and Red Pine Exploration.

Name

Legacy Gold Mines

Legal name

Legacy Gold Mines Ltd.

Website

https://legacygoldmines.com

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

1–10 employees

Short description

Legacy Gold Mines Ltd. (TSXV: LEGY) is a pre-revenue Canadian gold exploration company advancing the Baner Gold Mine Property in Idaho County, Idaho, held under a 3-year option, funded by equity raises to execute a 40,000-foot 2026 drilling program targeting the Orogrande shear structure.

Ownership category

akta.pro rank

Product category

Gold Exploration & Mining

NAICS

Gold Ore and Silver Ore Mining (212220), Support Activities for Metal Mining (213114)

SIC

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

akta.pro primary industry

Precious Metals Exploration & Project Development (IMAKAEAI)

akta.pro secondary industry

Exploration & Production Drilling Services (RC, Core, Directional, Sonic, Auger) (IMAKAKAB)

Keywords

• Gold exploration
• Mineral exploration
• Diamond drilling services
• Mining property development
• Resource delineation

Headquarters

HQ city

Calgary

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Equity Financing: Pre-revenue exploration stage company that raises capital through non-brokered private placements of common shares. Completed C$10 million private placement in April 2026 (33,333,333 shares at C$0.30). Funds drilling programs and option payments on the Baner Gold Mine Property.
2. Future Gold Production (Prospective): Long-term potential revenue from gold extraction and sale if exploration successfully delineates economic mineral resources at the Baner Gold Mine Property. Currently in exploration phase with no production revenue.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels7 records

Core offering

Legacy Gold Mines is a pre-revenue gold exploration company conducting surface exploration drilling at the Baner Gold Mine Property in Idaho County, Idaho, within the historic Orogrande Gold Mining District. The company holds an option to acquire 100% undivided interest in the property through a 3-year option agreement with Champion Electric Metals Inc. Its activities focus on diamond and reverse circulation drilling programs to delineate gold mineralization along the Orogrande shear structure, with current work targeting an initial exploration target of 50.3-55.3 million tonnes at 0.72-0.91 g/t Au. The company funds exploration through equity financings on the TSX Venture Exchange (TSXV: LEGY).

Product overview

Legacy Gold Mines is a Canadian-based gold exploration and development company (TSXV: LEGY) operating a single primary asset: the Baner Gold Mine Property in Idaho County, Idaho, USA. The company conducts surface exploration drilling programs (both diamond/core drilling and reverse circulation drilling) to test gold mineralization along the Orogrande shear structure. The company operates pursuant to a 3-year property option agreement with Champion Electric Metals Inc. and produces NI 43-101 compliant technical reports documenting exploration results and resource estimates. The company has no software products or modules—its offering consists entirely of physical exploration services and property development.

Differentiator

Problem solved

Functional benefit

Products and services

• Baner Gold Mine Property Gold exploration and development property located in Idaho County, Idaho, USA within the historic Orogrande Gold Mining District. Legacy Gold Mines holds an option to acquire 100% undivided interest in the mineral claims through a 3-year option agreement with Champion Electric Metals Inc. The property shows gold mineralization over a 2,300m north-south extent with an initial exploration target of 50.3-55.3 million tonnes at 0.72-0.91 g/t Au, and the deposit remains open in all directions.
• Exploration Drilling Services Surface exploration drilling services including diamond drilling (core) and reverse circulation (RC) drilling to test gold mineralization continuity along the Orogrande shear structure at the Baner Property. The 2026 drill program totals 40,000 feet with Phase 1 covering Main Zone core drilling and Phase 2 covering Northwest Zone and RC drilling across multiple target zones.
• NI 43-101 Technical Report Technical report compliant with National Instrument 43-101 standards documenting exploration results, geological interpretations, and initial resource estimates for the Baner Project. Documents drilling results including 0.55 g/t Au over 187.5m (thickest intersection on property), high-grade intervals up to 6.7 g/t Au over 4.6m, and the initial exploration target of 50.3-55.3 million tonnes at 0.72-0.91 g/t Au.

Quantifiable outcome

• Initial exploration target of 50.3-55.3 million tonnes at 0.72-0.91 g/t Au
• +4 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Two partnerships are on record, tiered core and minor.

• Champion Electric Metals Inc.coreStrategic or Co-development Partner · 9 October 2025Legacy Gold Mines holds a 3-year option agreement with Champion Electric Metals Inc. to acquire a 100% undivided interest in and to the mineral claims comprising the Baner Gold Mine Property located in Idaho County, Idaho, USA. The company made the second option payment in April 2026 following completion of the C$10 million private placement.
• WIN Expertise Inc. (Suzette Ramcharan)minorGTM or Marketing PartnerEngaged to provide investor relations services for Legacy Gold Mines, subject to TSX Venture Exchange acceptance. WIN Expertise is operated by Suzette Ramcharan and handles investor communications and relations activities.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Skeena Resources: TSX-listed gold junior advancing the Eskay Creek project in British Columbia; closely comparable stage, jurisdiction profile, and Canadian-listed gold development model.
• Troilus Gold: TSX-listed gold development company advancing the Troilus project in Quebec; comparable scale, jurisdiction, and stage of single-asset gold advancement.
• Rupert Resources: Formerly led by Brian Hinchcliffe as Executive Chairman/CEO; a TSXV-listed gold development company with the Ikkari discovery in Finland—an analogous single-asset gold story now at a more advanced stage.
• GoldMining Inc. TSX-listed gold-focused developer with a portfolio of exploration and development assets in the Americas; directly comparable business model of advancing gold projects through drilling toward resource delineation.
• Champion Electric Metals: Owns the Baner Gold Mine Property claims that Legacy Gold has optioned; a junior explorer with overlapping management and investor base, providing direct comparability on the same asset.
• Red Pine Exploration: TSXV-listed junior gold explorer advancing the Wawa Gold Project in Ontario, with overlapping board member (Michael Michaud serves on both boards); directly comparable in scale, stage, and Canadian-listed exploration model.
• American Pacific Mines: Co-founded by Legacy Gold CEO Brian Hinchcliffe; a junior gold/copper explorer with similar leadership DNA and Canadian-listed capital structure.

Broad incumbents

• IAMGOLD: TSX-listed intermediate gold producer with global operations; director Michael Michaud previously served as Chief Geologist, providing institutional comparability for advanced gold development.
• Wesdome Gold Mines: TSX-listed gold producer operating in Ontario and Quebec, where director Michael Michaud previously served as SVP Exploration; provides a comparable incumbent in the same gold production category.
• Agnico Eagle Mines: TSX-listed senior gold producer that absorbed Kirkland Lake Gold (co-founded by Legacy Gold's CEO and VP Exploration); serves as the ultimate incumbent comparable and potential strategic acquirer at scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/LegacyGoldMines
• LinkedInlinkedin.com/company/legacy-gold-mines-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds1 record

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 Legacy Gold Mines