The company will offer to shareholders of record at Dec. 23, 2025, transferable rights to purchase shares of the company. One right will be issued for each share held. One right and 7.2 cents are required to purchase one unit, where each unit consists of one share and one share purchase warrant. The rights offering will expire on Jan. 21, 2026. Each warrant and 12 cents entitles the buyer to purchase one share of the company up to Oct. 15, 2030. As at Dec. 15, 2025, the company had 40,155,734 shares issued and outstanding.

Effective at the opening, Dec. 23, 2025, the shares of the company will trade ex rights. The company is classified as a mineral exploration/development company. The rights and warrants will not be listed for trading.

Summary:

Basis of offering:  one right exercisable for one unit at 7.2 cents per unit

Record date:  Dec. 23, 2025

Shares trade ex rights:  Dec. 23, 2025

Rights expire:  Jan. 21, 2026, at 5 p.m. (Toronto time)

Authorized jurisdiction(s):  all provinces and territories of Canada, Australia, New Zealand, or in any other jurisdiction in which it is lawful

For further details, please refer to the company's rights offering circular and news release dated Dec. 15, 2025.