Company raises money to explore for gold near Yellowstone

BILLINGS – A Canadian mining company says it’s raised more than $2 million from an outside investor to help fund its pursuit of a gold mine north of Yellowstone National Park.

Lucky Minerals Inc. said Friday it’s entered a $2.5 million investment agreement with Toronto-based Clarus Securities. The deal is expected to close this month.

Montana regulators granted permission in July for Lucky to begin exploration work in the Absaroka Mountains near the town of Emigrant.

Lucky chief executive officer Robert Rosner told the Bozeman Daily Chronicle that Clarus likely would continue investing in its Emigrant Creek mining project if the exploration work is successful.

Environmental groups are challenging the state’s approval of the project in court. They say mining would damage waterways draining into the Yellowstone River, hurting tourism.