The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced July 14, 2023.

Convertible debenture:  $4-million (U.S.)

Conversion price:  convertible into common shares at a conversion price of 31 cents per common share (If the placee has not exercised the share conversion option, and all outstanding principal and all accrued and unpaid interest thereon have not been repaid in full on or prior to the maturity date, the placee will have the right to convert all outstanding indebtedness into a 0.63-per-cent net smelter return royalty interest in the El Domo-Curipamba project, subject to TSX Venture Exchange approval, if required.)

Upfront fee:  The company paid a non-refundable commitment fee of $120,000 (U.S.) to the placee.

Maturity date:  Dec. 31, 2023

Interest rate:  10 per cent per annum to and including the maturity date and a rate of 15 per cent per annum after the maturity date

Number of placees:  one placee

Insider/pro group participation:  not applicable

Finder's fee:  not applicable

The company issued a news release on July 20, 2023, confirming the closing of the private placement.