The TSX Venture Exchange has accepted for filing documentation pertaining to the purchase agreement dated Dec. 11, 2024, between the company and its subsidiary, and two arm's-length parties. Pursuant to the terms of the agreement, the company will acquire a 100-per-cent interest in 67 unpatented mining claims comprising the Celts project, located in Esmeralda county in Nevada.

The company will pay aggregate consideration valued at $400,000 (U.S.), comprising: (i) cash payments totalling $30,000 (U.S.); (ii) $45,000 (U.S.) in common shares; and (iii) on or before the date that is six months following the closing date, $325,000 (U.S.) in cash or common shares, priced at the time of issue. The company will issue a maximum of 10,473,960 common shares.

The sellers will retain a 1.5-per-cent net smelter return (NSR) royalty on minerals produced from the property and any additional mineral claims staked by the company within one kilometre of any boundary of the property and a 0.75-per-cent net smelter return royalty from certain claims in the area of interest currently owned by a third party, if ever acquired by the company. The company may at any time reduce the royalty by one-third to 1 per cent of net smelter returns from the property and any acquired rights within the area of interest and 0.5 per cent of net smelter returns from the claims, by paying to the applicable sellers, or affiliate thereof, $750,000 (U.S.) in cash.

For further details, please refer to the company's news release dated Dec. 12, 2024.