The TSX Venture Exchange has accepted for filing a letter agreement dated March 11, 2015, between the company and Osisko Exploration James Bay Inc. Pursuant to the terms of the agreement, the company may acquire a 50-per-cent interest in the Lac Pau property in Quebec. By way of consideration, the company will issue one million shares to Osisko at a deemed price of five cents per share over a four-year period. The company will be required to incur exploration expenditures totalling $4-million over a six-year period.

Please refer to the company's news release dated March 18, 2015, for further details.