The TSX Venture Exchange has accepted for filing documentation pertaining to a property acquisition agreement dated May 27, 2024, between the company and two arm's-length parties, whereby the company purchased a 100-per-cent interest in the 41 claims (57 units), located in Haines, Lamport and Duckworth townships, southwest of Shebandowan, in the district of Thunder Bay in Ontario.

Under the terms of the agreement, the company agreed to purchase the property in exchange for 600,000 common shares and a cash payment of $84,000, to be issued and paid over the period of three years. Additionally, the sellers retain a 1.5-per-cent net smelter return (NSR) royalty, and the company has the option to buy back a 0.5-per-cent NSR royalty at any time for $600,000 and a right of first refusal on the remaining 1-per-cent NSR royalty in exchange for up to a maximum of $4-million.

For further details, please refer to the company's news release dated May 28, 2024.