The TSX Venture Exchange has accepted for filing documentation with respect to an arm's-length acquisition of a 100-per-cent interest in the Olcott property located east of Atikokan, Ont., pursuant to a property option agreement dated June 17, 2026, between the company and the arm's-length vendors.

Pursuant to the terms of the agreement, the company can earn a 100-per-cent interest in the property by making the following payments to the vendors: (i) an aggregate cash payment of $150,000 over a period of four years, and (ii) the issuance of an aggregate of 1.2 million common shares of the company over a period of five years. Additionally, the company shall incur an aggregate of $750,000 in exploration expenditures on or before the fourth anniversary of the closing.

Upon exercise of the option, the vendors will retain a 2.5-per-cent net smelter return (NSR) royalty on the property, a 1.0-per-cent NSR may be repurchased by the company at any time for a one-time cash payment of $1-million.

For further details, please refer to the company's news release dated June 18, 2026.