The TSX Venture Exchange has accepted for filing an amalgamation agreement between the company and a non-arm's-length party (the vendor). The company pursued the amalgamation in order to consolidate a 100-per-cent ownership interest in company's Thompson Knolls porphyry project located in the southwestern part of Utah, United States.

Pursuant to the terms of the agreement and upon completion of the transaction, the company's shareholders hold 86,685,918 shares, representing approximately 51 per cent of the outstanding shares, and the vendor's shareholders hold 82,488,140 shares representing approximately 49 per cent of the outstanding shares.

Please refer to the company's news releases dated Sept. 15, 2022, Dec. 16, 2022, and Jan. 30, 2023, and Feb. 6, 2023, for further details.