The TSX Venture Exchange has accepted for filing the letter agreement dated Nov. 5, 2024, between the company and an arm's-length party. Pursuant to the terms of agreement, the company has been granted the option to purchase a 100-per-cent interest in nine mineral claims comprising the Arlington property. In consideration for the acquisition, the company has paid to the optionor $80,000 in cash and has issued to the optionor 944,686 common shares of the company valued at $200,000. To further exercise the option, the company must: (i) pay the optionor, within one year, an additional $50,000 in cash; (ii) issue to the optionor an additional two million shares; and (iii) incur exploration expenditures of $250,000 on the property.

The optionor will retain a 2-per-cent net smelter return (NSR) royalty, of which the company may repurchase half of the NSR royalty, at any time, for a one-time payment of $1-million cash.

For further information, please refer to the company's news releases dated Nov. 12, 2024, and Dec. 6, 2024.