The TSX Venture Exchange has accepted for filing documentation pursuant to an agreement of purchase and sale dated May 10, 2016, and announced via news release on May 18, 2016, between the company and an arm's-length vendor, whereby the company will acquire 17 mineral tenures comprising approximately 3,053 hectares located in the Liard mining division, known as the King South property.

The company has purchased a 100-per-cent right, title and interest in the property, subject to a 2-per-cent net smelter return royalty to be retained by the vendor. In consideration for the transaction, the company will issue 300,000 common shares to the vendor and has agreed to a work commitment of $50,000. The company also retains the option to purchase the royalty down to 1 per cent for a one-time cash payment of $1-million.

For further details, please see the company's news release dated May 18, 2016.