Overview
- The 80-km-long Hope Bay greenstone belt hosts three gold deposits (Doris, Madrid and Boston) and over 90 regional exploration targets.
- Positive investment decision in May 2026 to redevelop the Hope Bay project under a plan that contemplates an underground mining operation with estimated annual gold production of 400,000 to 435,000 ounces over an initial mine life of 11 years.
- The property contains significant infrastructure including: underground mine development at Doris and Boston and exploration ramps at Madrid; an enclosed processing plant building and a tailings impoundment area at Doris; a gravel airstrip at Doris capable of handling Boeing 737 aircraft and a secondary gravel airstrip at Boston; an expanded port with a laydown facility and fuel storage at Roberts Bay; an all-weather road network; a diesel power plant; and an expanded office-accommodations complex.
- In total, Hope Bay hosts 5.79 million ounces of gold (31.97 million tonnes grading 5.63 g/t gold) in the measured and indicated mineral resources category and 3.33 million ounces of gold (17.33 million tonnes grading 5.97 g/t gold) in the inferred mineral resources category, as at May 19, 2026.
- The Hope Bay project is expected to generate significant long-term benefits for Canada, including an estimated C$2.6 billion annually in exports, the creation of more than 2,000 direct and indirect jobs, and meaningful economic participation for Indigenous organizations and partners, including the Kitikmeot Inuit Association. The federal government has committed C$25 million in funding to the Hope Bay Wind Project, led by Inuit-owned Kitikmeot Tugliq Limited Partnership, which will add 4 megawatts of wind power and 4 megawatts of battery storage to the site’s power system.
- The Company is actively exploring the Hope Bay property, including plans to resume exploration efforts at Boston to potentially establish a satellite deposit supporting the Hope Bay operation.
For more information on our exploration projects and activities, see the Company’s recent news.