The TSX Venture Exchange has accepted for filing documentation pertaining to an option agreement dated Jan. 6, 2025, between the company and two arm's-length parties, whereby the company may acquire a 100-per-cent legal and beneficial interest in and to 32,000 acres of land located in the province of Ontario.

Under the terms of the agreement, the company has agreed to acquire the property in exchange for: (i) 5.5 million common shares, (ii) transfer of 47,750 acres of western mineral patents of the company in Kingsmill and Mabee townships, and (iii) estimated $23-million (U.S.) cash payment. The company has the right to exercise the option by Dec. 31, 2026, and can extend the option annually up to a further five years for an additional payment of 2.5 per cent of the option payment amount in cash for each such annual extension.

For more information, please refer to the company's news releases dated Jan. 7, 2025, and March 3, 2025.