The TSX Venture Exchange has accepted for filing documentation with respect to the notice of exercise of option and amending agreement dated Aug. 31, 2023, for the option agreement dated June 2, 2021 between the company, Canexco Inc., a wholly owned subsidiary of the company and an arm's-length party (the parties).

The parties have agreed to remove all requirements to complete the stage 2 and stage 3 earn-in obligations of the original agreement in exchange for a one-time share and cash payment. Under the amended option agreement, the company will earn a 100-per-cent interest in the Excelsior mine property in exchange for issuing 8,694,170 common shares and paying $120,000 (U.S.) in cash. The vendors will retain a 1.5-per-cent net smelter royalty as outlined in the original agreement.

For further details, please refer to the exchange bulletin dated June 17, 2021, and the company's news releases dated Sept. 5, 2023, and Nov. 29, 2023.