The TSX Venture Exchange has accepted for filing documentation regarding the arm's-length acquisition of a 100-per-cent undivided interest in mining licence 038152M, consisting of 12 mineral claims located in central Newfoundland (the RPM South project). Consideration is $20,000 in cash and an issuance of 750,000 common shares at a deemed price of 14.25 cents. The consideration shares are subject to a voluntary escrow and will be released to the arm's-length vendors over a period of 30 months from issuance.

The RPM South project is subject to a 2.0-per-cent net smelter return (NSR) royalty. Prior to commercial production, the company can purchase up to a 1.0-per-cent royalty for $1-million.

For further details, please refer to the company's news release dated Dec. 17, 2024.