The TSX Venture Exchange has accepted for filing documentation pertaining to an exploration memorandum of understanding between the Naicatchewenin First Nation (NFN) and the company, dated July 12, 2023, and as amended Feb. 24, 2025, regarding the Gold Standard project in Northwestern Ontario.

Under the terms of the agreement, the company will make quarterly contributions in cash to a community fund established by the NFN. These contributions will be based on exploration expenditures, as follows:

• 4 per cent of all exploration costs incurred from May 1, 2022, to TSX-V acceptance of the amended MOU;
• 3 per cent of the first $10-million in exploration costs after TSX-V acceptance;
• 2.5 per cent of any exploration costs exceeding $10-million after TSX-V acceptance.

Additionally, the company will issue common shares to NFN based on continuing exploration, according to the following schedule:

• $25,000 in shares upon the exchange acceptance of the amended memorandum;
• $25,000 in shares on the first and second anniversaries of the amended memorandum;
• $50,000 in shares on the third and fourth anniversaries.

The pricing of these shares to be issued will be determined based on a 20-day volume-weighted average, with a minimum price of five cents per share. The total number of shares to be issued under the agreement will not exceed 3.5 million.

For further details, please refer to the company's news release dated March 10, 2025.