The TSX Venture Exchange has accepted for filing documentation pertaining to a property option agreement dated Aug. 7, 2025, between the company and an arm's-length entity, whereby the company may acquire a 100-per-cent interest in the Portsoy project, located in Aberdeenshire, Scotland.

Pursuant to the terms of the agreement, the company will issue a total of 6.5 million common shares to the optionor and incur three million pounds sterling in aggregate exploration and development expenditures -- encompassing all cash payments, holding costs, operational expenses and drilling commitments -- over a five-year period following the exchange approval date with a minimum annual expenditure of 300,000 pounds sterling per year.

Upon exercise of the option, the optionor will retain a 1-per-cent net smelter return royalty and a 10-per-cent third party acquisition right, each capped at 10 million pounds sterling, with any future disposition of the property remaining subject to exchange policies.

The transaction is arm's length in nature and no finders' fees are payable.

For further information, please refer to the company's news releases dated Aug. 11, 2025, and Dec. 24, 2025.