On July 2, 2026, Capricorn Metals Ltd. (“Capricorn”) announced that it had entered into a binding agreement to sell the Big Springs gold project to Sentinel Metals Ltd. (“Sentinel”), combining it with Sentinel’s Montana Columbia project to form an approximately 2.0 Moz North American gold platform, for total consideration of up to approximately A$26 million, conditional on Sentinel raising at least A$15 million. The Big Springs gold project includes areas partially covered by Metalla’s NSR royalties on Big Springs and Golden Dome. On July 6, 2026, Sentinel announced funding as an A$15.0 million placement at A$0.58 per share (with Capricorn subscribing for approximately A$3.0 million). Sentinel guided that shareholder approval for the transaction is expected to be obtained at a late-August 2026 shareholder meeting, and the transaction is expected to close in early-September 2026. Upon closing of the transaction, the operator/counterparty on Metalla’s royalty will transition from Capricorn (a producer) to Sentinel (a junior developer).