On May 8, 2026, Gold Candle Ltd. and Pan American Silver Corp. announced that they had entered into a binding asset purchase agreement dated May 7, 2026, pursuant to which Gold Candle will acquire all of the assets that comprise Pan American's Larder Property in northeastern Ontario in exchange for the issuance of 15,000,000 common shares in the capital of Gold Candle. On closing, the share consideration will result in Pan American owning approximately 6 percent of Gold Candle on a pro forma basis. As part of the transaction, Pan American has also been granted participation rights enabling it to maintain its pro rata ownership in any future equity financings completed by Gold Candle on terms customary for such rights. The Larder Property comprises three mineral deposits — Bear, Cheminis, and Fernland — that collectively host 388,000 ounces of indicated gold mineral resources (5.1 million tonnes at 2.39 grams per tonne gold) and 933,000 ounces of inferred gold mineral resources (6.9 million tonnes at 4.21 grams per tonne gold), all classified as historic resources under NI 43-101. The property is approximately 35 kilometres east of Kirkland Lake, Ontario, totals over 6,400 hectares along the Larder Lake — Cadillac Break, and is contiguous to Gold Candle's existing Kerr-Addison property to the west; the acquisition increases Gold Candle's total land position to approximately 27,000 hectares in the Abitibi greenstone belt. The transaction follows Gold Candle's recent closing in April 2026 of its acquisition of Fokus Mining Corporation, which Gold Candle's chief executive officer Rick Howes referenced as part of an ongoing district-scale consolidation strategy along the Larder Lake — Cadillac Break. Closing of the Larder transaction is subject to customary closing conditions and is expected to occur in the third quarter of 2026.