The TSX Venture Exchange has accepted for filing an agreement dated Feb. 2, 2024, between the company and an arm's-length party. Pursuant to the terms of the agreement, the company may acquire a 100-per-cent interest in 32 tenured mineral claims covering an area of approximately 5,156 hectares located south of the town of Dryden in Northwestern Ontario. By way of consideration, the company previously made a $175,000 cash payment and will issue 400,000 shares at a deemed price of 22 cents per share.

The property is subject to two pre-existing net smelter return (NSR) royalties:

• Sixty-seven of the Manitou claims (the lower Manitou claims) are subject to an NSR royalty of 1.5 per cent. The company may purchase one-third of the lower Manitou NSR royalty (being 0.5 per cent) at any time for a cash payment of $500,000.
• Two hundred fifty of the Manitou claims (the Manitou fault claims) are subject to an NSR royalty of 1.5 per cent. The company may purchase half of the Manitou fault NSR royalty at any time for a cash payment of $500,000. Thereafter, the company has a right of first refusal to purchase the balance of the Manitou fault NSR royalty.

For further details, please refer to the company's news release dated Feb. 2, 2024.