The TSX Venture Exchange has accepted for filing a restructuring transaction pursuant to a restructuring framework agreement between the company and a non-arm's-length party (the counterparty).

Pursuant to the terms of the agreement, the parties have amended the gold purchase agreement between the parties originally dated Dec. 16, 2021 (the stream agreement A), and the gold and silver purchase and sale agreement dated April 21, 2022, between the company and a wholly owned subsidiary of the counterparty (the stream agreement B, and the amendments made to stream agreement A and stream agreement B, the stream amendments) whereby, inter alia, the company is now obliged to deliver to the counterparty, or its subsidiary, as applicable, 275 ounces of gold per month until April, 2028 (previously 600 ounces per month until May, 2026), and silver deliveries are suspended through April, 2028 (previously 25,000 ounces per month). As consideration for the stream amendments the company (i) issued 28,767,399 shares (the consideration shares) of the company to the counterparty at a deemed value of 27 cents per share (ii) granted the counterparty a 1.0-per-cent NSR (net smelter return) on and over its Corani property and (iii) increased the principal amount of the new convertible debenture (as defined herein), under the same terms as the new convertible debenture, by $4,248,650.33 (U.S.) (the consideration shortfall) in lieu of providing the consideration shortfall in shares at closing in order to avoid the counterparty obtaining more than 19.99 per cent of the company's issued and outstanding shares.