The York Property was originally part of Emergent's New York Canyon Property.  On July 16, 2019, Emergent announced it had signed a Purchase Agreement with Searchlight Resources Inc. (TSXV: SCLT)("Searchlight") to acquire the New York Canyon Property, NV ("NY Canyon" or the "Property").  At that time, the Property consisted of 60 unpatented claims and 21 patented claims.  On November 15, 2019, Emergent announced it had expanded the Property by staking an additional 92 unpatented claims.  On March 30, 2020, Emergent announced it had completed the acquisition of the Searchlight claims.

 

​​On February 11, 2020, Emergent signed an Earn-in with Option to Joint Venture Agreement with Kennecott Exploration Company ("Kennecott"), a subsidiary of Rio Tinto plc (NYSE:RIO).  Kennecott agreed to option the NY Canyon Property with three incremental options to acquire up to 75% of the Property by conducting up to US$22.5 million in exploration expenditures over a period of up to 11 years.  Between 2020 and 2023, Kennecott completed approximately US$6.7 million in exploration

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On June 30, 2023, Emergent announced that Kennecott had elected to terminate the Option to Earn-in Agreement, effective June 29, 2023.  Kennecott transferred all its exploration data to Emergent, as well as 265 mineral claims it had staked, bringing the property size to 417 unpatented claims and 21 patented claims.  Kennecott spent about US$6.7 million in exploration at NY Canyon.

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On May 1, 2024, Emergent announced that it had signed an Option Agreement for Purchase and Sale of the NY Canyon Property with Ivanhoe Electric Inc. (NYSE:IE)("IE").   IE had the option to acquire the Property by making cash and share payments of US$2.0 million (US$300,000 paid)  on or before August 1, 2025 (see March 1, 2024, press release for details).  IE and Emergent reduced the property size at NY Canyon to 347 unpatented claims and 21 patented claims, totaling about 7,300 acres in size in September, 2024.  IE terminated the Option Agreement effective July 12, 2025.

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On October 23, 2025, Emergent announced it had sold 27 claims, part of the NY Canyon Property, to Lahontan Gold Corporation (TSXV:LG).  The sale included 27 claims in the northwest corner of the North Block of Property and south of Lahontan's York resource on their adjacent Santa Fe Property.  The sale will allow Lahontan to potentially expand its York resource to the south, onto the new claims area, subject to exploration success.  Terms of the transaction were US$10,000 on signing a LOI, a promissory note with a 6-month term for US$50,000 at a 1% interest rate, and 2.0 million Lahontan common shares.   In addition,  Lahontan granted Emergent a 1% net smelter royalty on the 27 claims, hereto referred to as the York Property.  Lahontan may purchase the royalty for US$500,000 prior to the 3rd year of the Definitive Agreement, or for US$1,000,000 between the third and seventh year of the Definitive Agreement, after which the buyout rights expire.

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