The TSX Venture Exchange has accepted for filing an option agreement dated Dec. 18, 2023, as amended March 15, 2024, July 22, 2024, Oct. 28, 2024, Jan. 28, 2025, April 28, 2025, June 27, 2025, Aug. 29, 2025, June 30, 2026, and Oct. 8, 2026, together with a transfer acknowledgment agreement dated April 28, 2025, and a notice of assignment and direction of payments dated Jan. 27, 2026, among the company, an arm's-length assignor, certain claim registrants and an arm's-length corporate vendor.

Under the terms of the agreement, the company has been granted an option to acquire a 100-per-cent undivided interest in the Prudhomme property, comprising 109 mineral claims located in the municipality of Riviere-Koksoak in Quebec.

To exercise the option, the company is required to fulfill the following obligations:

• Cash consideration: total cash payments of $845,000, which includes $95,000 in total cash payments paid prior to closing, and a contingent $750,000 payment due within six months of filing on SEDAR+ a National Instrument 43-101 technical report establishing a mineral resource estimate on the property containing greater than 500 million pounds of copper equivalent;
• Share issuance: the issuance of $750,000 in common shares of the company, calculated based on the 20-day volume-weighted average trading price (VWAP) less a discount of 20 per cent, subject to a floor price of 10 cents per share (maximum aggregate issuance of 7.5 millioon shares). This includes:
  • 3.5 million shares ($350,000 deemed value) issued on the closing date;
  • Common shares having an aggregate deemed value of $200,000 (up to a maximum of two million shares at the 10-cent floor price) payable in quarterly instalments on or before the 12-month anniversary of the closing date;
  • Common shares having an aggregate deemed value of $200,000 (up to a maximum of two million shares at the 10-cent floor price) payable in quarterly instalments on or before the 24-month anniversary of the closing date;
• Exploration expenditures: a minimum of $4-million in cumulative exploration expenditures to be incurred on the property, comprising a minimum of $1.5-million on or before the second anniversary of the effective date, and an additional $2.5-million on or before the fourth anniversary of the effective date;
• During the earn-in period and for so long as the company continues to hold an interest in the property, the company is also subject to the following milestone cash payments:
  • $500,000 within six months of filing on SEDAR+ a bankable feasibility study (BFS) compliant with National Instrument 43-101;
  • $1-million within 30 days of the board of directors approving to proceed with commercial production on the property;
  • $4-million within 30 days of the commencement of commercial production on the property.

Upon completion of the option, the parties will enter into a definitive gross metals royalty agreement granting the vendor a 2.0-per-cent gross metal royalty (GMR) on all mineral production. The company maintains the right to repurchase a 1.0-per-cent royalty of the GMR at any time prior to commercial production for a one-time cash payment of $2-million. The final terms of the GMR agreement, including security and hypothec against the property, remain subject to prior exchange acceptance before execution or effectiveness.

There are no finders' fees payable.

For further information, please refer to the company's news releases dated Dec. 20, 2023, Feb. 23, 2024, June 13, 2025, Feb. 10, 2026, June 9, 2026, Sept. 8, 2026, Oct. 22, 2026, and Oct. 28, 2026.