The TSX Venture Exchange has accepted for filing documentation pertaining to a sale and purchase agreement dated Nov. 10, 2021, among the company, the company's subsidiary and Isa Brightlands Pty. Ltd. (the vendor), whereby the company intends to acquire a 100-per-cent interest in the Milo uranium, copper, gold and rare earth project.

The project consists of EPM (exploration permit -- minerals) 14416, which consists of 20 subblocks or approximately 34 square kilometres located within the Mt. Isa inlier, approximately 40 kilometres west of Cloncurry in northwestern Queensland, Australia.

Under the terms of the agreement, the company has agreed to acquire the project for $500,000 cash payment and the issuance of up to 750,000 common shares at $2.85 per share. Furthermore, the company assumes the responsibility to satisfy a royalty of 2 per cent of the net smelter return on the project to former owner of the project.

For more information, please refer to the company's news release dated April 21, 2022.