The TSX Venture Exchange has accepted for filing the company's acquisition of up to a 60-per-cent interest in three claims in Nevada, namely the Pilot, Confusion Hills and Red Ring properties, pursuant to an option agreement dated April 30, 2025, between the company and a non-arm's-length party.

Pursuant to the terms of the agreement, the company will make the following cash payments to the vendor:

• $100,000 (U.S.) upon acceptance by the exchange and minority shareholder approval by the company;
• $300,000 (U.S.) for each property which the company wishes to exercise the option, after the completion of the exploration requirements (defined below) but no later than the exercise of the option.

The exploration requirements are defined as the following:

• At least 2,000 metres of drilling in the aggregate on one or more of the properties, within 18 months of the effective date;
• At least 3,000 metres of drilling on the specific property which the company wishes to exercise the option, within five years of the effective date.

Upon at least 15,000 metres of drilling being completed on a specific property either during the option period or thereafter, the company shall make a cash payment of $750,000 (U.S.) to the vendor.

For further details, please refer to the company's news releases dated May 1, 2025, and Oct. 3, 2025.