Victoria Gold Corp. placed in receivership following environmental catastrophe at Eagle Gold Mine

Company

Victoria Gold Corp.

Law Firm / Organization
Bennett Jones LLP

Company

PricewaterhouseCoopers International Limited

Law Firm / Organization
Goodmans LLP

Government

Yukon Government

Law Firm / Organization
Thornton Grout Finnigan LLP

Company

Lenders

Law Firm / Organization
Fasken Martineau DuMoulin LLP

Company

Osisko Gold Royalties

Law Firm / Organization
Stikeman Elliott LLP

Government

First Nation of Na-Cho Nyak Dun

Law Firm / Organization
Pape Salter Teillet LLP

Company

Parsons Inc.

Law Firm / Organization
Gowling WLG (Canada) LLP

On August 14, 2024, Victoria Gold Corp., the owner and operator of the Eagle Gold Mine in Dublin Gulch, Yukon, was placed in receivership on August 14 following a catastrophic heap leach failure on June 24. The failure led to the release of approximately 2 million tons of ore material, causing significant environmental risks due to the escape of harmful chemicals, including cyanide. The Yukon Government initiated the receivership due to the company's inadequate response to the disaster and its failure to demonstrate the financial capability to manage the estimated $100-150 million required for remediation, with $40-50 million needed in the immediate 90 days. PwC was appointed as the receiver. Legal counsel included TGF for the Yukon Government, Bennett Jones for Victoria Gold, Fasken for the Syndicate of Secured Lenders, Stikeman Elliott for Osisko Gold Royalties, Pape Salter Teillet and Tyr for the First Nation of Na-Cho Nyak Dun, and Gowling WLG for Parsons, the proposed lead environmental consultant.

Other
Mining
Undisclosed/Confidential
Active