Omineca Mining and Metals Ltd. (TSXV: OMM) has regained full control of its flagship Wingdam Paleoplacer project following the decision by the Licensed Insolvency Trustee, MNP Ltd., to disclaim and quit claim D&L Mining Corp.’s interest in the underground project. The move follows the declared voluntary bankruptcy of D&L Mining Corp., first announced by Omineca on October 9, 2026, according to a company release distributed via NEWMEDIAWIRE.
The significance of the trustee’s disclaimer is that it removes a third-party claim over the Wingdam underground project and consolidates operational authority with Omineca, the project’s owner. Since receiving notice of the disclaimer, Omineca has taken steps to secure management of the mine site to provide continuity of operations. In support of these measures, the company has engaged PSI Mining of Saskatoon, Saskatchewan, to assume temporary operating responsibility for the Wingdam placer project.
According to the release, this outcome returns full control of the Wingdam Paleoplacer project to Omineca and allows management to complete an agreement directly with a development partner prepared to advance the project without delay. That ability to negotiate directly could accelerate decision-making and reduce the complexity that arises when multiple parties hold interests in a project.
The Wingdam project is Omineca’s flagship asset. Its hard rock exploration and placer gold recovery projects are located along the Barkerville Highway, 45 kilometers east of Quesnel, British Columbia. The Wingdam property includes mineral tenures totaling 61,392 hectares, or 613 square kilometers, and more than 15 linear kilometers of placer claims. Both encompass the Lightning Creek valley, where topographic conditions created thick layers of overburden that preserved a large portion of a buried paleochannel containing placer gold-bearing gravels. Omineca also has a program exploring for potential multiple hard rock sources of the placer gold at Wingdam.
Separately, the company’s Fraser Canyon project, located 12 kilometers northwest of Quesnel in the Cariboo Mining District, is slated to reinitiate development of the underground paleochannel for the recovery of placer gold. Historically, two mines north and south of the Fraser River collectively produced 1,482 ounces of raw placer gold.
The full original release is available at www.newmediawire.com. The company notes that forward-looking statements in the release are based on current expectations and are subject to risks and uncertainties, and that the TSX Venture Exchange and its Regulation Services Provider accept no responsibility for the adequacy or accuracy of the release.
