The TSX Venture Exchange has accepted for filing documentation pertaining to a property and option purchase agreement dated Oct. 28, 2024, between the company and arm's-length party, whereby the company acquired a 100-per-cent interest in 11 claims and the right to earn a 100-per-cent interest in an additional eight claims held by a third party. The combined claims cover approximate 233 hectares and are all contiguous with the newly expanded Delta-1 property.

Under the terms of the agreement, the company acquired the property in exchange for a cash payment of $95,000, payable over the period of three years, and the issuance of 1.25 million common shares. Furthermore, the seller retains a 1-per-cent net smelter return (NSR) royalty. The company will have the option to buy back a 0.5-per-cent NSR royalty at any time for $500,000 and will have a right of first refusal on the second 0.5-per-cent NSR royalty for a maximum of $500,000. The claims are all subject to a 2-per-cent NSR royalty related to underlying agreements and the company will have the right to purchase a 1-per-cent royalty at any time for $1-million.

For further details, please refer to the company's news release dated Oct. 29, 2024.