Dear TNR Gold Shareholders,
After months of diligent negotiations, and in line with our previously announced corporate development strategy, TNR Gold Corp. is pleased to welcome Altius Minerals Corporation — a leading Canadian royalty company with a market capitalisation of C$2.9 billion — as a strategic investor in the Company.
Altius takes a strategic, non-controlling interest consisting of 23,500,000 common shares for C$4.2 million. This investment represents a strong endorsement of TNR Gold’s management team, asset portfolio, and long-term vision.
The market responded positively to the announcement, with TNR Gold shares trading as high as C$0.27 and closing at C$0.26, an increase of approximately 30%.
This transaction marks a significant milestone not only for TNR Gold but for the broader Canadian mining industry. It brings renewed optimism to many junior mining companies and their leadership teams, demonstrating the willingness of established royalty companies, like Altius, to actively support and invest in Canada’s mining sector. The Altius team shares our core values, vision, and strategic objectives as we continue to build a dynamic Green Energy Metals royalty and gold company.
The investment provides a clear vote of confidence in our team and strategy, further validating the quality and potential of our royalty portfolio, which is now gaining strong industry recognition.
As a founder of GEM Royalty TNR Gold Corp. and significant shareholder with approximately 28 million shares, I remain deeply committed to the Company’s success and aligned with all shareholders.
With this new financing in place, TNR Gold is well-positioned to execute the next phase of its strategic plan. We will actively communicate our Green Energy Metals (GEM) Royalty story to the broader market and institutional investors. Our priorities include consolidating and expanding our royalty holdings, maximising the return of royalty cash flow to shareholders, initiating a share buyback program following regulatory approval, and progressing toward the implementation of a sustainable dividend policy once all necessary requirements are met.
We look forward to advancing our vision and delivering long-term value for all TNR Gold shareholders.
Thank you for all your congratulations, and I am very pleased to see that sophisticated professional investors are calling our deal with Altius "amazing".
A C$2.9 billion company invested in a microcap and demanded no warrants.
TNR got this amazing deal because Altius saw the value of the royalties and wanted a right of first refusal* on two of them instead. After announcing the deal, TNR shares closed at 26 cents Cdn, up 30% on the day." (Kashayap Sriram, April 7, 2026)
* (KK - Actually, it is even better, it's Right of First Offer "ROFO", not the Right of First Refusal "ROFR")
I would like to personally express our deep gratitude to Kashyap Sriram for his strong, vocal, and uncompromising support of the continued integrity of our mining investment community and the core values we all share at The Mining Alliance of Trust.
Our fellow shareholders, none of this would have been possible without your unwavering support and trust in our talented Team. On behalf of the entire TNR Gold Team, I extend our deepest gratitude.
My Dreams are beautiful, but money talks; we are in the business of making money.
The TNR Gold Team delivered a 240% increase in share price during 2025. Building on this momentum, the company’s share price has risen an additional 53% year-to-date in 2026 as of April 6, 2026.
Below, you can find more information about our Company and potential valuations for our royalties. Discovery Alert provided a detailed professional analysis of our deal with Altius: "Altius Minerals TNR Gold Investment: Mining Royalty Deal", and I encourage you to make your own research using the links below.
Thank you once again for your continued partnership.
Our guiding principle remains unchanged: "Solid values in uncertain times.”
Best and stay safe.
Kirill Klip,
Executive Chairman
On your behalf, I thank the exceptionally talented TNR Gold Team for their dedication and skill in advancing our vision. Together, we have delivered a share-price increase of 240% in 2025, and we are now focused on achieving the next 100%+ advance.
Our guiding principle remains unchanged: "Solid values in uncertain times.”
Best and stay safe.
Kirill Klip,
Executive Chairman
TNR Gold Team
We build wealth for our Shareholders.
The Mining Alliance of Trust
We build wealth for our Shareholders.
The Mining Alliance of Trust
There is no investment advice in any of our posts.
Always consult a qualified financial adviser before making any investment decisions.
Do Your Own Research.
(Only publicly available information is used on this Blog and any Kirill Klip and TNR Gold social media feeds)
GEM Royalty TNR Gold Corp.
“TNR Gold Corp is your gateway to the green energy rEVolution and gold stability! We're building a leading green energy metals royalty and gold company, offering a unique entry into the supply chains powering the energy transition. With a 1.5% NSR royalty (of which 0.15% is held on behalf of a shareholder) on the Mariana Lithium Project in Argentina, operated by Ganfeng Lithium, and a 0.4% NSR (of which 0.04% is held on behalf of a shareholder) on the massive Los Azules Copper Project with McEwen Mining—backed by giants like Rio Tinto and Stellantis—we’re positioned for significant cash flows without the capital burden. Add to that our 90% stake in the Shotgun Gold Project in Alaska, near the Donlin Gold deposit, with 705,960 ounces of inferred gold resources, and we’re a diversified powerhouse. TNR delivers exposure to lithium, copper, silver and gold, blending blue-sky discovery with partnerships that drive value—perfect for investors seeking growth and a hedge in today’s economic cycle!”
Kirill Klip, Executive Chairman,
TNR Gold Corp.
“We are building The Green Energy Metals Royalty and Gold Company. Our business model provides the unique entry point into the creation of supply chains for critical materials like energy metals which are powering Tesla Energy rEVolution and Gold industry which is providing the ultimate hedge during this part of the economic cycle. Our shareholders are participating in the building of The Green Energy Metals Royalty and Gold Company. In our portfolio, we have a unique combination of assets providing exposure to different parts of mining cycle: starting with the power of blue sky discovery and including partnerships with industry leaders like McEwen Mining, Ganfeng Lithium and Lundin Mining as operators on the projects that will potentially generate royalty cashflows to contribute significant value for our shareholders.”Kirill Klip, Executive Chairman,
TNR Gold Corp.
"TNR Gold's 2025 share price surged 240% from CAD 0.05 to 0.17, fueled by insider purchases totalling over 2 million shares and minimal dilution, as detailed in the attached chart showing a bull flag breakout and heavy accumulation signals." (Analysis by Grok)
The TNR Gold Team started this year on a very strong note, after delivering a 240% increase in our Company's share price in 2025. We reached an intraday high of 28 cents on April 7, 2026.
"My personal share price target for our Company is to reach a minimum of C$0.50, and with all our dedication, your support, and a strong gold market, we can aim at C$1.0 after the successful J/V partnership on the Shotgun Gold Project in Alaska."
Angela Harmantas from Proactive wrote about the new report on TNR Gold from Fundamental Research Corp.:
"TNR Gold is on the cusp of becoming a revenue-generating royalty company, according to a new report from Fundamental Research, with analysts citing rising lithium and copper prices as key drivers for near-term earnings."
"The company, which focuses on royalties from projects operated by other mining firms, has seen its shares surge 240% year-over-year, significantly outperforming the BetaShares mining royalty ETF, up just 17% over the same period.TNR’s portfolio includes the Shotgun gold project in Alaska, as well as royalties on two advanced South American projects: the Mariana lithium project in Argentina, owned by Ganfeng Lithium (SZSE: 002460), and the Los Azules copper-gold project, controlled by mining veteran Rob McEwen and his institutions." (Angela Harmantas)
"Analysts at Fundamental Research noted that TNR is “awaiting its first royalty payment, expected this quarter, as Ganfeng began production at its Mariana lithium project last year.” Based on current lithium prices, the firm estimates TNR could earn around US$1.6 million annually from Mariana.
“Receiving this first payment will be a major milestone, marking TNR’s transition into a revenue-generating royalty company,” analysts wrote." (Angela Harmantas)
TNR’s Los Azules copper-gold royalty is also drawing attention. McEwen completed a feasibility study in October 2025, confirming the project’s economic attractiveness, and the project was included in Argentina’s Large Investment Incentive Regime (RIGI), granting tax and export benefits. Copper prices, meanwhile, have risen 34% year-over-year to an all-time high of US$5.82 per pound. Fundamental Research estimates TNR could earn US$5 million annually in royalties at conservative copper prices, rising to US$8 million at current spot prices, with construction planned to begin in 2026 and commercial production by 2029. (Angela Harmantas)
"Fundamental Research reiterated its Buy rating on TNR, raising its fair value estimate from C$0.30 to C$0.35 per share. TNR “offers exposure to gold, lithium, and copper through projects in Alaska and Argentina, and is on the verge of earning its first royalty revenue,” analysts wrote, adding that “high metal prices, combined with project milestones, position TNR for significant revenue potential.” (Angela Harmantas)
Disclaimer: Please be aware that any opinions, estimates or forecasts regarding the performance of TNR Gold Corp. in any research reports do not represent the opinions, estimates or forecasts of TNR Gold Corp. or of its management.
"Elsewhere, at the Shotgun gold project in Alaska, TNR is actively seeking a JV partner to advance the project to a Preliminary Economic Assessment (PEA). Shotgun hosts inferred resources totaling 706 Koz of gold at a grade of 1.1 grams per tonne. Analysts believe the project has expansion potential, with the Shotgun Ridge deposit remaining open along strike and at depth." (Angela Harmantas)
The valuation matrix provided by Fundamental Research enables investors to assess the impact of varying copper and lithium price assumptions on TNR Gold Corp.'s potential valuation.
Angela Harmantas: "Fundamental Research Reiterated "Buy" Rating for TNR Gold and Increased a Fair Value Estimate From C$0.30 to C$0.35 per Share"
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