The TSX Venture Exchange has accepted for filing an option agreement dated March 1, 2019, between Great Bear Resources Ltd., 1544230 Ontario Inc. and Perry English (the vendor), whereby the company will acquire three groups of claims, the Dixie-Pakwash, Dixie-Deedee Lake group and Sobel claims located in the Red Lake gold district in Ontario. Consideration, staged over a four-year period, is $195,000 cash and 70,000 common shares. In relation to the Dixie-Deedee Lake group claims, upon exercise of the option, the company will grant the vendor a 0.75-per-cent net smelter return royalty, which the company may repurchase at any time by issuing 38,500 common shares.

For a more detailed breakdown of the payment schedule, please refer to the company's news release dated March 11, 2019.