Trident Unlocks Value from Non-Core Knife Lake Copper Project Through Option Agreement with Apogee Minerals
Rhea-AI Summary
Trident Resources (OTCQB: TRDTF) has signed a July 13, 2026 option agreement granting Apogee Minerals the right to earn a 100% interest in Trident’s Knife Lake Copper Project in Saskatchewan. The deal is positioned as a monetization of a non-core asset while Trident concentrates on its La Ronge gold portfolio.
According to Trident, consideration includes C$400,000 in staged cash payments, 7,400,000 Apogee shares on closing, additional Apogee shares with a deemed value of C$700,000, and C$1,000,000 in exploration expenditures over two years. Apogee will operate and fund work during the option period, while Trident has no obligation to finance Knife Lake. Trident’s Apogee ownership is capped below 10%, with any excess paid in cash. Upon option exercise, Apogee would own 100% of Knife Lake, subject to existing 2.5% and 1.5% NSR royalties payable to Summit Royalties and a private individual.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Positive
- C$400,000 total cash payments over two years from Knife Lake option
- Equity package of 7,400,000 Apogee shares plus shares valued at C$700,000
- Apogee to fund C$1,000,000 in Knife Lake exploration in first two years
- Trident retains no obligation to fund future work on Knife Lake
- Non-core copper asset monetized while focusing capital on La Ronge gold portfolio
Negative
- Receipt of full cash, share and exploration commitments is staged over up to two years
- Trident’s equity ownership in Apogee is contractually capped below 10%
Vancouver, BC, July 14, 2026 (GLOBE NEWSWIRE) -- Trident Resources Corp. (TSXV: ROCK) (OTCQB: TRDTF) (Frankfurt: 6BP0) (“Trident” or the “Company”) is pleased to announce that it has entered into an option agreement dated July 13th, 2026 (the "Agreement") with Apogee Minerals Ltd. ("Apogee"), an arm’s length party, pursuant to which Apogee may earn a
Location Map of Knife Lake Project:
https://www.tridentresourcescorp.com/projects/knife-lake-project/#&gid=1&pid=2
Under the Agreement, Trident will receive a total of C
"Our primary objective is to build one of Canada's premier emerging gold companies by unlocking the district-scale potential of the La Ronge Gold Belt," said Jon Wiesblatt, CEO of Trident Resources. "Knife Lake is an excellent copper asset, but our capital and technical expertise are increasingly focused on advancing our growing gold portfolio, led by the Contact Lake Gold Project. This transaction allows Knife Lake to begin creating value for our shareholders immediately through cash, equity ownership in Apogee and an upcoming exploration program, all while preserving our exposure to future discoveries without drawing on Trident's treasury. Saskatchewan has demonstrated that multiple successful mining companies can be created through strategic partnerships and focused execution, and we believe this agreement positions both companies to pursue that opportunity."
Transaction Highlights:
Under the terms of the Agreement, Apogee may earn a
| Date | Cash Payment | Apogee Share Issuance | Exploration Expenditures |
| On the Closing Date | | 7,400,000 Shares | — |
| On or before the first anniversary of the Closing Date | | Shares having a deemed value of | Minimum |
| On or before the second anniversary of the Closing Date | | Shares having a deemed value of | Additional |
| Total | | 7,400,000 Shares plus Shares having a deemed value of | |
(1) The number of Shares issued for the first and second anniversary payments will be determined using the greater of
The Agreement also contains customary provisions limiting Trident's ownership to below
Upon exercise of the Option, Apogee will hold a
About the Knife Lake Project:
The Knife Lake Project is an advanced-stage copper, silver, zinc, gold and cobalt exploration property located approximately 130 km north-northwest of Flin Flon in northeastern Saskatchewan, a jurisdiction consistently ranked among the top mining jurisdictions in the world by the Fraser Institute. The Property hosts the Knife Lake Deposit, a near-surface, stratabound VMS-style deposit. The mineralized zone is approximately 15 metres thick on average and dips 30° to 45° eastward over a known strike length of approximately 4 kilometres across 3 zones (Central-South, Bay, North) with an average down-dip extension of approximately 300 metres.
The Property benefits from a comprehensive database of more than 400 drill holes derived from historical and modern exploration programs completed between 1968 and 2022. The most recent work, completed by Rockridge Resources Ltd. (now Trident), comprised diamond drill programs in 2021 and 2022 totalling approximately 2,900 metres and a VTEM airborne geophysical survey in 2021. The 2021 VTEM survey data identified numerous conductive anomalies along the same prospective stratigraphy that hosts the Knife Lake Deposit. Highlights from the 2022 drill program include drill hole KF22030, which intersected 15.90 metres of
Historical Mineral Resource Estimate:
The Knife Lake Project is host to a historical NI 43-101 compliant Mineral Resource Estimate (MRE) prepared for Rockridge Resources Ltd. with an effective date of June 12, 2019, which consisted of a pit-constrained Indicated Mineral Resource of 3.8 million tonnes at
The Historical Estimate was prepared using the mineral resource categories set out in the CIM Definition Standards for Mineral Resources and Mineral Reserves (2014) and in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) as in effect at the time of its preparation. The Company is not aware of a more recent mineral resource estimate for the Property. A qualified person has not done sufficient work to classify the Historical Estimate as current mineral resources, and the Company is not treating the Historical Estimate as current mineral resources. In order to verify the Historical Estimate as a current mineral resource estimate, the Company anticipates that additional work, including data verification, twinning of historical drill holes and updated resource modelling by a qualified person, would be required. The Historical Estimate is considered relevant and reliable as it was prepared by an independent qualified person using industry-standard practices and drill hole data, and it provides an indication of the exploration potential of the Property. Historical information may not be representative of expected results. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
Qualified Person:
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Cornell McDowell, P.Geo., VP Exploration for Trident Resources and the Qualified Person for Trident as defined by NI 43-101.
About Trident Resources Corp.
Trident Resources Corp. is a Canadian gold exploration company focused on advancing district-scale opportunities in Saskatchewan's La Ronge Gold Belt. The Company has assembled a large and strategic land position encompassing the several gold projects, which host foundational gold resources, together with a growing portfolio of highly prospective regional exploration properties. Trident's current exploration focus is at the
To find out more about Trident Resources Corp. (TSX-V: ROCK) visit the Company’s website at www.tridentresourcescorp.com.
TRIDENT RESOURCES CORP.
“Jonathan Wiesblatt”
Jonathan Wiesblatt
CEO and Director
For further information, please contact:
Jonathan Wiesblatt, Chief Executive Officer
Email: Jon.Wiesblatt@tridentresourcescorp.com
Or:
Lubica Keighery, Corporate Communications
Email: lubica.keighery@tridentresourcescorp.com
Trident Resources Corp.
Telephone: 778-889-5476
Toll Free: 800-567-8181
Facsimile: 604-687-3119
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
Forward-Looking Information
This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, completing ongoing and planned work on its projects including drilling and the expected timing of such work programs, other statements relating to the technical, financial and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of gold, copper and other metals, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses, and those filed under the Company’s profile on SEDAR+ at www.sedarplus.ca. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather or climate conditions, failure to obtain or maintain all necessary government permits, approvals and authorizations, failure to obtain or maintain community acceptance (including First Nations), decrease in the price of gold, copper and other metals, increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.
