The TSX Venture Exchange has accepted for filing documentation with respect to the arm's-length disposition of up to a 70.0-per-cent interest in the Murphy Lake uranium property in Saskatchewan. Pursuant to the terms of the agreement, the purchaser will pay an aggregate of $800,000 (inclusive of a $50,000 non-refundable payment) over two years to the company, finance a total of $10-million in expenditures over a period of 42 months, and issue common shares of the purchaser equal to 9.9 per cent of the purchaser's issued and outstanding within six months, in order to complete the acquisition for 50.0 per cent of the property. Following the initial option exercise, the purchaser has the option to acquire a further 20.0 per cent, for a total 70.0-per-cent interest of the property, by paying an aggregate of $500,000 over a period of three years, starting from the date of the agreement, and financing an additional $8-million on or before the date that is five years of the agreement. The company will receive a 2.0-per-cent net smelter return (NSR) royalty on the property, provided that the purchaser shall be responsible only for the percentage of the NSR equal to its percentage interest in the property, and on the earlier of such date the purchaser: (i) exercises the 20.0-per-cent option; (ii) elects not to exercise the 20.0-per-cent option; and (iii) 60 months from the initial payment date, the company and the purchaser will form a joint venture on the property. The property consists of eight claims located in northeastern Athabasca basin.

No finder's fee was paid.

For further details, please refer to the company's news releases dated July 29, 2025, and Feb. 2, 2026.