Victoria Gold Corporation's Eagle Mine heap leach failure

Our role as a regulator and enforcement body is to closely monitor the situation and, when appropriate, direct the receiver. The Government of Yukon is treating this as an emergency response, recognizing the potential impacts on people and the environment. Our key priorities are on-site safety and environmental protection.

July 27, 2026

The Government of Yukon provided an update on the sale process of Eagle Gold Mine.

• On July 3, the Receiver confirmed the exclusivity period would be extended by 90 days. It allows Boroo Pte Ltd to:
  • continue its due diligence;
  • negotiate terms of potential purchase agreement; and
  • continue discussions with the Yukon government and the First Nation of Na-cho Nyäk Dun on key agreements required for the transaction to proceed.
• Find further details about the exclusivity agreement on the Receiver's website.

April 28, 2026

The Government of Yukon provided an update on the sale process of Eagle Gold Mine.

• On April 23, the court-appointed Receiver, with consent of the Yukon government, entered into an exclusivity agreement with Boroo Pte Ltd for the sale of the main and certain related assets. This is the next step of the sale process.
• The Government of Yukon has:
  • provided input into the sale process to help ensure the interests of Yukoners are protected; and 
  • advanced funds to the Receiver to fund the remediation of the mine site and the activities of the Receiver during the receivership. 
• A successful sale of the mine and related assets would allow for the Yukon government to recover the funding advanced through the receivership loan. The maximum loan amount remains unchanged at $220 million.

April 16, 2026

The Government of Yukon is implementing all recommendations of the Independent Review Board that examined the failure of the Eagle Gold Mine. 

• Of the 56 recommendations:
  • 23 are implemented;
  • 6 are in progress; and
  • 27 are expected to be completed by spring 2027.
• Many of the recommendations will be captured in the Guidelines for Mine Waste Management Facilities, which are currently being reviewed and upheld.
• The Government of Yukon has included $729,000 to support this work in Budget 2026.
• Find details on implementation progress.

April 13, 2026

The Government of Yukon provided an update on water treatment at Eagle Gold Mine, with preparations for spring melt underway.

• The Receiver is preparing to discharge treated water from the mine site to help prepare for spring melt, when the site sees a large influx of water.
• Storage ponds at the site have enough remaining storage to manage throughout spring melt. Ditches, culverts and pumping systems are in place to divert run-off so it does not mix with the water containing cyanide. Groundwater is also being collected so it can be stored until treated. Work continues to stabilize the health leach facility. 
• The Receiver continues to recover gold from water in the heal leach, with proceeds from sales to fund the Receiver's work and site remediation.
• The agreement with the Receiver has been extended to September 30, 2026. The Receiver continues to seek a suitable buyer for the mine.

March 3, 2026

The Government of Yukon provided an update on Victoria Gold Corporation receivership. 

• The Receiver filed its 8th report to the court on February 26. It indicated that it's selling assets - largely in the form of net smelter return royalties - to Franco Nevada Corp. for $55 million. This money will help fund work at the site and offset the cost of remediation efforts.
• The Ontario Supreme Court of Justice will hear the Receiver's application to approve the sale of the royalties to Franco Nevada on March 9.
• The Receiver is moving closer to finding a suitable buyer for the Eagle Gold Mine. The Government of Yukon has provided input into the process to help protect the interests of Yukoners.

January 5, 2026

The Government of Yukon extended its credit agreement with the court-appointed receiver for Victoria Gold Corporation. 

Credit agreement 

• The credit agreement is extended to April 1, 2026.
• The extension does not include additional funding.
• The maximum loan amount remains $220 million. 

Site operations and sale process 

• The Receiver continues to manage operations at the Eagle Gold Mine, including heap stabilization and water monitoring.
• Work to advance the mine sale process is ongoing.
• A closing date for the sale has not been set. 

Financial oversight 

• In April 2025, the court approved the Government of Yukon to loan up to $220 million to the Receiver.
• The loan is secured by a court-ordered super-priority charge and is recorded as a loan receivable.
• This does not impact the Yukon government’s surplus or net financial debt.

View the Independent Review Board report 

See previous updates.

Department of Energy, Mines and Resources: [email protected]

Department of Environment: [email protected]

Employment Standards Office: [email protected] or 867-667-5944

Environmental Health Services: [email protected] or 867-667-8391

Workers’ Safety and Compensation Board - [email protected] or 867-667-5645

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