Scottie Resources (TSX-V:SCOT) is seeking to raise up to C$27 million ($27.1 million) through a non-brokered private placement for its Scottie Gold Mine Project in British Columbia, Canada.
The financing comprises up to 8,965,518 common shares priced at C$2.90 each and 322,581 flow-through shares at C$3.10 each.
Proceeds from the common shares will fund working capital and general corporate purposes, including technical studies and permitting underway at the project.
The flow-through proceeds will fund eligible Canadian exploration expenses that qualify as flow-through mining expenditures. Scottie says it plans to renounce the qualifying expenditures to subscribers effective on or before 31 December 2026.
Scottie may pay finder’s fees or issue warrants to arm’s-length parties that introduce subscribers, subject to TSX Venture Exchange approval.
Company insiders may also participate, with their involvement constituting a related-party transaction. Scottie expects the participation to qualify for exemptions from formal valuation and minority shareholder approval requirements.
Securities issued under the placement will carry a four-month statutory hold period. The financing remains subject to regulatory approval.
Funding an expanded program
The proposed raise follows the first assays from Scottie’s 2026 drilling, which included 18m @ 9.7 grams per tonne gold (Au) at the Lemoffe vein and 2.45m @ 14.6g/t Au at the Blueberry vein.
With drilling costs tracking below budget, Scottie has increased the planned campaign to between 52,000m and 56,000m. More than 40,000m had been completed across 160 holes when the results were reported.
The Scottie Gold Mine Project has an inferred mineral resource of 3.6 million tonnes @ 6.1g/t Au, containing 703,000 ounces.
An October 2025 preliminary economic assessment outlines direct-ship ore and potential toll-milling development scenarios. It estimates initial capital costs of C$129 million and average annual production of about 65,400 ounces over seven years, although no toll-milling agreement is in place.
Scottie Resources is a Canadian explorer that controls about 58,500 hectares of mineral claims in BC’s Golden Triangle, including the past-producing Scottie Gold Mine, adjacent Blueberry Contact Zone, and Georgia Project.
Write to France Pinzon at Mining.com.au
Images: Scottie Resources
