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M&A Deal Summary

Fresnillo Acquires Probe Gold

On October 31, 2025, Fresnillo acquired metals/mining company Probe Gold for 780M CAD

Acquisition Highlights
  • This is Fresnillo’s 1st transaction in the Metals/Mining sector.
  • This is Fresnillo’s largest (disclosed) transaction.
  • This is Fresnillo’s 1st transaction in Canada.
  • This is Fresnillo’s 1st transaction in Ontario.

M&A Deal Summary
Date 2025-10-31
Target Probe Gold
Sector Metals/Mining
Buyer(s) Fresnillo
Deal Type Add-on Acquisition
Deal Value 780M CAD
Advisor(s) Canaccord Genuity (Financial)
Stikeman Elliott (Legal)

Target

Probe Gold

Toronto, Ontario, Canada
Probe Gold is a mineral exploration and development company portfolio that includes the Novador Project in Val-d’Or and the Detour Gold Project in northern Québec, both targeting large-scale resource development and regional exploration. Probe Gold was founded in 2010 and is headquartered in Toronto, Ontario.

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Buyer(S) 1

Buyer

Fresnillo

Mexico City, Mexico
Category Company
Founded 1887
Sector Metals/Mining
Employees7,260
Revenue 3.5B USD (2024)
DESCRIPTION

Fresnillo is a precious metals group using its flagship mine, operation for almost 500 years. Its people, expertise, and strategy for growth will help us succeed for years to come. The company produces gold and silver from six locations across Mexico. Fresnillo was incorporated in 1887 and is based in Mexico City.

DEAL STATS #
Overall 1 of 1
Sector: Metals/Mining M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Ontario M&A 1 of 1
Country: Canada M&A 1 of 1
Year: 2025 M&A 1 of 1
Size (of disclosed) 1 of 1
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