The TSX Venture Exchange has accepted for filing documentation with respect to an arm's-length second amending agreement among the company, Alcon Silver Corp. (the company's wholly owned subsidiary) and Western Property Holdings LLC. The second amending agreement relates to an option agreement and first amending agreement granting Alcon Silver an option to acquire an undivided 100-per-cent interest in and to certain mining claims of the Star project, Utah, subject to Western Property Holdings retaining a 2-per-cent net smelter return (NSR) royalty. The second amending agreement amends the balance of cash payments, share issuances and expenditure commitments that remain to be satisfied by Alcon Silver, and provides that the common shares remaining to be issued to Western Property Holdings will be issued by the company.

Pursuant to the second amending agreement, the company has agreed to issue up to two million common shares, as follows:

• 500,000 shares at 20 cents per share on or before Sept. 30, 2026;
• 500,000 shares on or before Sept. 1, 2027;
• One million shares on or before Sept. 1, 2028.

All securities issued pursuant to the second amending agreement are subject to a four-month-and-one-day hold period in accordance with applicable securities laws.

Upon completion of the transaction, Alcon Silver will hold a 100-per-cent interest in the Star project, subject to a 2-per-cent NSR royalty.

For further details, please refer to the company's news release dated Sept. 2, 2026.