The TSX Venture Exchange has accepted for filing documentation with respect to the amendment of obligations to a mining lease between the company and an arm's-length lessor. The amendment eliminates the company's obligation to incur annual exploration expenditures of $150,000 (U.S.) for the calendar years of 2024 and 2025 on the unpatented mining claims forming part of the company's Red Hill property governed under the mining lease. The amendment provides that the company has issued 42 million units at a deemed price of one cent per unit, where each unit consists of one common share of the company and one share purchase warrant to purchase one additional common share of the company for a period of five years at an exercise price of five cents per share.

For further details, please refer to the company's news release dated Sept. 10, 2024.