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Trident Resources Monetizes Knife Lake Copper Project via Option Agreement with Apogee Minerals
Trident Resources Corp. (TSXV: ROCK, OTCQB: TRDTF, Frankfurt: 6BP0) announced on July 14 2026 that it had struck an option agreement with Apogee Minerals Ltd. The deal gives Apogee the right to acquire a 100 % interest in Trident’s Knife Lake Copper Project in Saskatchewan, a non‑core asset the company is divesting to sharpen its focus on a growing gold portfolio.
Under the terms, Trident will receive C$400,000 in cash and 7,400,000 shares of Apogee common stock at closing. An additional C$700,000 worth of shares will be issued over the first two years of the option period, and Trident will pay C$1 million in exploration expenditures during that time. Once the option is exercised, Trident will owe no further work at Knife Lake.
The Knife Lake Project sits about 130 km north‑northwest of Flin Flon in northeastern Saskatchewan. It is an advanced‑stage exploration property that hosts a near‑surface, stratabound VMS‑style deposit. The mineralized zone averages 15 m in thickness and stretches roughly 4 km along strike. More than 400 drill holes, including recent diamond drilling in 2021 and 2022, intersected 15.90 m of 1.93 % Cu, 0.26 g/t Au, 7.50 g/t Ag, 0.17 % Zn and 0.02 % Co.
A historical NI 43‑101 compliant Mineral Resource Estimate dated June 12 2019 reported an indicated resource of 3.8 million tonnes at 1.02 % CuEq and an inferred resource of 7.9 million tonnes at 0.67 % CuEq. The estimate was prepared by independent qualified persons and is considered relevant but not current; Trident has not updated it.
CEO Jon Wiesblatt said the company’s primary goal is to build a leading gold explorer in Saskatchewan’s La Ronge Gold Belt. He noted that Knife Lake is an excellent copper asset but that Trident’s capital and technical expertise are increasingly devoted to its Contact Lake Gold Project. The option agreement allows Trident to unlock shareholder value through cash, equity in Apogee, and a planned exploration program, while preserving exposure to future discoveries.
Apogee will act as operator on Knife Lake during the option period and may accelerate exercise at any time by completing the required payments and exploration expenditures. The agreement limits Trident’s ownership in Apogee to below 10 % of outstanding shares and prevents Trident from becoming a reporting insider. Any excess consideration will be paid in cash. All securities issued under the agreement are subject to a statutory hold period of four months and one day.
Upon exercise, Apogee will hold a 100 % interest in Knife Lake, subject to existing royalties: a 2.5 % net smelter return (NSR) royalty to Summit Royalties Ltd. and a 1.5 % NSR royalty to a private individual on certain mineral claims.
The transaction is a strategic monetization of a non‑core asset. Trident will receive immediate cash and share exposure to a junior explorer that will continue development of the property, while the company will not incur future costs at Knife Lake and can redirect capital toward its gold projects.
No finders’ fees were paid in connection with the transaction. The agreement does not affect Trident’s balance sheet beyond the cash and share issuance. The company has not yet reported any impact on its upcoming earnings. Trident’s next quarterly report is expected in September 2026.
The option agreement is in place as of July 14 2026; Apogee may exercise the option at any time within the two‑year period, subject to the payment schedule and exploration commitments outlined above.
Under the terms, Trident will receive C$400,000 in cash and 7,400,000 shares of Apogee common stock at closing. An additional C$700,000 worth of shares will be issued over the first two years of the option period, and Trident will pay C$1 million in exploration expenditures during that time. Once the option is exercised, Trident will owe no further work at Knife Lake.
The Knife Lake Project sits about 130 km north‑northwest of Flin Flon in northeastern Saskatchewan. It is an advanced‑stage exploration property that hosts a near‑surface, stratabound VMS‑style deposit. The mineralized zone averages 15 m in thickness and stretches roughly 4 km along strike. More than 400 drill holes, including recent diamond drilling in 2021 and 2022, intersected 15.90 m of 1.93 % Cu, 0.26 g/t Au, 7.50 g/t Ag, 0.17 % Zn and 0.02 % Co.
A historical NI 43‑101 compliant Mineral Resource Estimate dated June 12 2019 reported an indicated resource of 3.8 million tonnes at 1.02 % CuEq and an inferred resource of 7.9 million tonnes at 0.67 % CuEq. The estimate was prepared by independent qualified persons and is considered relevant but not current; Trident has not updated it.
CEO Jon Wiesblatt said the company’s primary goal is to build a leading gold explorer in Saskatchewan’s La Ronge Gold Belt. He noted that Knife Lake is an excellent copper asset but that Trident’s capital and technical expertise are increasingly devoted to its Contact Lake Gold Project. The option agreement allows Trident to unlock shareholder value through cash, equity in Apogee, and a planned exploration program, while preserving exposure to future discoveries.
Apogee will act as operator on Knife Lake during the option period and may accelerate exercise at any time by completing the required payments and exploration expenditures. The agreement limits Trident’s ownership in Apogee to below 10 % of outstanding shares and prevents Trident from becoming a reporting insider. Any excess consideration will be paid in cash. All securities issued under the agreement are subject to a statutory hold period of four months and one day.
Upon exercise, Apogee will hold a 100 % interest in Knife Lake, subject to existing royalties: a 2.5 % net smelter return (NSR) royalty to Summit Royalties Ltd. and a 1.5 % NSR royalty to a private individual on certain mineral claims.
The transaction is a strategic monetization of a non‑core asset. Trident will receive immediate cash and share exposure to a junior explorer that will continue development of the property, while the company will not incur future costs at Knife Lake and can redirect capital toward its gold projects.
No finders’ fees were paid in connection with the transaction. The agreement does not affect Trident’s balance sheet beyond the cash and share issuance. The company has not yet reported any impact on its upcoming earnings. Trident’s next quarterly report is expected in September 2026.
The option agreement is in place as of July 14 2026; Apogee may exercise the option at any time within the two‑year period, subject to the payment schedule and exploration commitments outlined above.
