The TSX Venture Exchange has accepted for filing documentation the property purchase agreement dated Aug. 19, 2024, between the company and an arm's-length party. Pursuant to the terms of agreement, the company has acquired a 100-per-cent interest in and to 12 mineral claims contiguous with its Shovelnose gold property. As consideration for the acquisition, the company has paid to the vendor $20,000 in cash and issued to the vendor 1.5 million common shares of the company. The consideration shares are subject to a four-month hold period pursuant to statutory resale restrictions, as well as contractual restrictions to be released in equal instalments on Jan. 6, 2025, May 6, 2025, and Sept. 6, 2025. The company has granted to the vendor a 1-per-cent net smelter return (NSR) royalty on the claims and has the option to repurchase the NSR royalty at any time for $1-million cash.

This acquisition is considered to be an arm's-length transaction.

For further information, please refer to the company's news releases dated Aug. 22, 2024, and Sept. 6, 2024.