Calibre Mining, a Vancouver-based company, has acquired Marathon Gold, currently involved in the Valentine Gold project in central Newfoundland.

The $345 million dollar deal involves the acquisition of all of Marathon’s outstanding shares.

Calibre is a “mid-tier” gold producer focused on mining developments in the United States and Nicaragua.

Construction on the Valentine project is 50 per cent complete, with first gold expected in the first quarter of 2025. More exploration potential has also been identified in the Valentine Lake area near Buchans.