The TSX Venture Exchange has accepted for filing documentation relating to an option agreement between Brunswick Exploration Inc. and an arm's-length party. The option agreement allows the company to acquire a 100-per-cent interest in the Hanson Lake project located in Saskatchewan for total consideration of $700,000 over a four-year period upon closing of a definitive agreement. The total amount is payable in cash, shares or a combination of both (BRW's discretion, subject to a minimum 25-per-cent cash component), and an aggregate amount of $1-million in work expenditures.

Additional milestone payments occur as to payment of $250,000 in cash, shares or combination of both on filing of a resource estimate and payment of additional $250,000 in cash, shares or combination of both on filing of a preliminary economic assessment (maximum of 588,235 shares).

The company will grant a 2-per-cent NSR (net smelter return) of which half (1 per cent) of the NSR may be repurchased by the company for $1-million. The second half of the NSR (1 per cent) may be repurchased for $2-million.

For further details, please refer to the company's news release dated Jan. 30, 2023.