The TSX Venture Exchange has accepted for filing documentation pertaining to a property option purchase agreement dated April 30, 2024, between the company and Sky Gold Corp., whereby the company purchased 33 contiguous unpatented mining claims, located in the Laurie township of Northwestern Ontario (the Laurie property), and 80 contiguous unpatented mining claims, located in the Duckworth Laurie, Sackville and Horne townships, and Batwing Lake and Dawson Road lot areas, of Northwestern Ontario (the Horne property).

Under the terms of the agreement, the company agreed to purchase the targets in exchange for 1.4 million common shares, a cash payment of $425,000 and incurring exploration expenses in amount of $1-million over the period of three years. Additionally, the company granted a 1-per-cent net smelter return (NSR) royalty with the option to buy back a 0.5-per-cent NSR royalty at any time for $1-million and will have a right of first refusal on the second 0.5-per-cent NSR royalty. The company also assumed the net smelter return royalty of the underlying net smelter return agreement on the each of the targets.

For further details, please refer to the company's news release dated May 1, 2024.