The TSX Venture Exchange has accepted for filing documentation pertaining to a property acquisition agreement dated Jan. 16, 2024, between Delta Resources Ltd. and arm's-length vendors. Pursuant to the agreement, the company will have the option to acquire a 100-per-cent interest in 21 claims covering 1,170 hectares at the Delta-2 property. The property is a mining claim property located 35 kilometres southeast of the town of Chibougamau in Quebec.

As consideration on closing, the company shall pay the vendors a one-time cash payment of $5,000, and issue 350,000 common shares of the company priced at 10.5 cents per share. Pursuant to the agreement, the vendors shall retain a 2-per-cent net smelter return (NSR) royalty on the claims. The company retains the right to buy back a 1-per-cent NSR royalty from the vendors for $1-million and retains a right of first refusal on the purchase of the remaining 1-per-cent NSR royalty.

For further details, please refer to the company's news releases dated Jan. 19, 2024.