The TSX Venture Exchange has accepted for filing documentation the option agreement dated July 24, 2026, between the company and an arm's-length party. Pursuant to the terms of the agreement, the company has been granted the option to earn up to an 80-per-cent interest in the three claim groups adjoining its NAK copper-gold porphyry project. In order for the company to exercise the option, it must make payments to the optionor of up to $400,000, complete common share issuances of up to 1.2 million shares and incur an aggregate of $4.85-million of exploration expenditures, according to the following schedule.

Option 1 for an initial 60-per-cent interest:

• Upon closing: $20,000 cash, 50,000 shares and reimburse the optionor for $100,000 of expenditures;
• Dec. 31, 2026: $30,000 cash plus 50,000 shares;
• Dec. 31, 2027: $50,000 cash plus 100,000 shares plus $500,000 of expenditures;
• Dec. 31, 2028: $60,000 cash plus 200,000 shares plus $750,000 of expenditures;
• Dec. 31, 2029: $60,000 cash plus 300,000 shares plus $1-million of expenditures;
• Dec. 31, 2030: $80,000 cash plus $1-million of expenditures;
• Dec. 31, 2031: $100,000 cash plus 500,000 shares plus $1.5-million of expenditures.

Upon completion of option 1:

• The company will grant the optionor a 2.0-per-cent net smelter return (NSR) royalty, of which a 1.0-per-cent NSR royalty may be repurchased by the company through a cash payment of $2.5-million to the optionor.
• Option 2: The company may earn an additional 20-per-cent interest in the properties (aggregate 80-per-cent interest) for an additional payment of $1-million. The company will have the option to satisfy 50 per cent of the option 2 payment through the issuance of shares, subject to prior exchange approval.

For further information, please refer to the company's news releases dated July 28, 2026, and Aug. 27, 2026.