The TSX Venture Exchange has accepted for filing an option agreement dated June 9, 2022, between Regency Silver Corp. and Regency Mining S.A.C. (the optionor), and the company, whereby the company has been granted an option to acquire a 70-per-cent interest in the Paisano gold project, located in the La Libertad mining district in north-central Peru. Consideration is $33,000 and 250,000 common shares, to be issued over a three-year period, along with exploration expenditures equal to $200,000 on or before May 25, 2024, and $800,000 on or before May 25, 2025. Upon the exercise of the option, a joint venture will be formed, with the company holding a 70-per-cent interest in the project. In the event one of the parties to the joint venture have its interest diluted to below 10 per cent, then such party's interest will automatically convert to a 1.25-per-cent net smelter return royalty.

Subject to further exchange review and acceptance, the company shall have the right to satisfy the exploration expenditure requirements through the issuance of common shares at a price equal to the greater of 17 cents per common share and a price per common share equal to the closing price of the common shares on the trading date immediately preceding the date on which notice is delivered.