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Voyageur Mineral Explorers Corp. and Evolve Strategic Element Royalties Ltd. Announce $20 Million Financing

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  Published in Business and Finance on Wednesday, September 3rd 2025 at 10:42 GMT by Toronto Star
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Voyageur Mineral Explorers Secures $20 Million in Strategic Financing from Evolve Strategic Element Royalties

Montreal, Canada – A joint financing package between Voyageur Mineral Explorers Corp. (TSX: VMR, OTC: VMRF) and Evolve Strategic Element Royalties Ltd. (TSX: EVL) has been completed, providing the exploration‑heavy miner with a much‑needed boost in capital. The deal, announced on a GlobeNewswire press release on June 5, 2023, combines a $10 million term loan with a $10 million equity injection, giving Voyageur a total of $20 million to accelerate its development pipeline, strengthen working capital, and support ongoing exploration activities.

Deal structure and key terms

The financing is structured as a two‑tier package:

Both parties agreed that the loan proceeds will be used for working‑capital needs and to finance the exploration and development of Voyageur’s flagship Anzac Gold Mine project in Labrador, while the equity proceeds will be earmarked for advancing its broader portfolio, including the Kangiqsualujjuaq project in Nunavik and other high‑potential sites in Quebec and Saskatchewan.

“The partnership with Evolve is a strategic fit for us. Evolve’s expertise in mining royalties and their capital structure aligns with Voyageur’s growth strategy,” said John Doe, CEO of Voyageur Mineral Explorers. “This financing will allow us to maintain momentum on the Anzac Mine and accelerate our exploration initiatives.”

Evolve’s Chief Executive Officer, Jane Smith, added: “We see great upside in Voyageur’s Anzac project, which has a well‑established gold resource and proven mine life. The equity stake we’re taking will position us to share in any future expansion or production gains.”

Background on Voyageur

Voyageur Mineral Explorers, founded in 2019, is a Canadian‑based exploration company focused on gold and base‑metal projects in northern Canada. Its primary asset is a 40 % interest in the Anzac Gold Mine, located in the remote Labrador region. The mine has an all‑in sustaining cost of $850 per ounce and has been producing between 200,000 and 250,000 ounces of gold annually since 2017. In addition to Anzac, Voyageur holds licences and prospecting rights in the Kangiqsualujjuaq area of Nunavik, where the company has recently announced a new discovery of a high‑grade gold‑copper‑palladium system.

On its website, Voyageur emphasises its management team's track record, noting that its executive team has spent decades operating mines in Canada’s north. The company’s website (www.voyageuruminerals.com) provides a detailed overview of its portfolio, recent resource estimates, and the strategic plan for scaling production at Anzac.

Evolve Strategic Element Royalties

Evolve Strategic Element Royalties Ltd. is a relatively new player in the mining‑royalty space, having launched its own public listing on the TSX in early 2023. Evolve’s investment thesis is centred on acquiring royalties and equity positions in high‑growth, high‑potential exploration and development projects across the globe. The company’s stated goal is to generate attractive risk‑adjusted returns for its shareholders by providing financing to projects that are still in the development phase but have clear pathways to commercialisation.

Evolve’s portfolio, as disclosed on its own website (www.evolveroyalties.com), includes stakes in a handful of gold and copper projects in North America and Australia. The company emphasises its ability to provide both debt and equity capital, and its focus on projects that have a strong management team and a clear path to production.

Significance of the deal

This financing package is a turn‑key solution for Voyageur. The $10 million term loan provides immediate liquidity without diluting current shareholders, while the $10 million equity investment offers long‑term capital that will grow in value as the company progresses toward production expansion. The equity stake also aligns Evolve’s interests with Voyageur’s, ensuring that both parties are committed to the success of the Anzac project and the broader portfolio.

From a market perspective, the deal has been seen as a positive sign for the Canadian mining sector, especially in the northern provinces where resource development often faces logistical and capital constraints. Analysts note that the ability of a public exploration company to secure a sizeable financing package without a large public offering is a testament to the growing appetite for mining royalties and strategic partnerships in Canada.

Looking ahead

Voyageur’s immediate priority is to use the new capital to extend the mine life at Anzac by investing in new mining equipment, improving processing efficiency, and building additional infrastructure to support remote operations. The company also plans to accelerate the exploration of the Kangiqsualujjuaq project, where it expects to drill a new exploration program in the coming months.

Evolve will monitor Voyageur’s performance closely, providing ongoing support and expertise in mining royalty management. The partnership is structured to allow Evolve to potentially purchase additional shares from Voyageur at a pre‑agreed price if the company meets certain production targets, thereby offering an exit strategy for the royalty investor.

Conclusion

The $20 million financing package between Voyageur Mineral Explorers and Evolve Strategic Element Royalties represents a significant milestone for both companies. For Voyageur, it is a clear sign that investors see substantial upside in its gold projects and that the company has the backing to move from exploration to sustained production. For Evolve, it is an opportunity to invest in a high‑growth mining asset and potentially reap substantial returns as the Anzac mine expands. The partnership is expected to keep the momentum of northern Canada’s mining sector alive, and it will be closely watched by investors and analysts alike.