Glencore sells Kidd Operations to Discovery Silver

On June 1, 2026, Glencore Canada Corporation ("Glencore") completed the sale of its 100% interest in the Kidd Operations in Timmins, Ontario to Discovery Silver Corp. ("Discovery"). The Kidd Operations include the Kidd Metallurgical Site, the Kidd Creek copper, zinc and silver mine, and the exploration land package held by Kidd Creek Timber Ltd.

The transaction received all required regulatory approvals, including approval under the Competition Act (Canada) and conditional approval of the Toronto Stock Exchange for the issuance of Discovery common shares.

Glencore Canada, headquartered in Toronto, Ontario, is the Canadian subsidiary of Swiss-based Glencore, a global natural resources company engaged in the production, processing and marketing of metals, minerals and energy products.

Discovery, based in Toronto, Ontario, is a Canadian mining company focused on the acquisition, development and operation of mineral assets and mining projects in North America.

McCarthy Tétrault LLP advised Glencore with a team led by Adam Taylor, that included Roger Taplin, Aathmika Kularatnam, Mitchell Lui, Jackson A. Virgin-Holland, Red Lasiste, and Peter Bo Zhang (Corporate), Simon Douville, Mike Hegedus, Erica M. Hennessey, Hubert Cadotte, Giorgina Chum, Micky Hoskin and Michel Ranger (Tax), Susan Nickerson, and Julia Miller (Pensions), Kent Beattie, Michael Foderick, Jaskirt McDonald, Nicolina Perrone, and Susana Fedyniak (Real Property & Planning), Benjamin T. Aberant, Margaret Gavins, and John Gray (Labour & Employment), Daniel Bornstein, Gwenyth Wren (Environmental Law), Jason Gudofsky, and Gideon Kwinter (Competition), Robert Jefferson, and Rachel Poon (Municipal), Conrad Lee (Technology).