On August 8, 2025, Barrick Mining Corporation has agreed to sell its Alturas Project in Chile to Boroo Pte Ltd for an up-front cash payment of US$50 million (approximately C$67.7 million). The transaction includes a 0.5% net smelter return royalty on gold and silver production, capped at two million gold-equivalent ounces, with Boroo retaining the option to repurchase the royalty for US$10 million (about C$13.5 million) within four years of closing.

The deal, expected to close in Q3 2025, allows Barrick to focus on its core portfolio of long-life, sustainable Tier One gold and copper assets, while Boroo acquires a 100% interest in Alturas by purchasing all shares of Compañia Minera Salitrales SpA. The Alturas Project, discovered by Barrick in 2015 and located in the prolific El Indio Belt, hosts indicated resources of 2.2 million ounces and inferred resources of 3.6 million ounces of gold. Boroo plans a phased development, leveraging its experience with similar deposits, notably Lagunas Norte in Peru.

Barrick’s financial advisor is Southern Cone Partners, with Davies Ward Phillips & Vineberg LLP and Dentons (Santiago) as legal counsel. Boroo’s advisors are Cormark Securities Inc. (financial) and Stikeman Elliott LLP and Cariola Diez-Pérez-Cotapos Limitada (legal).