The TSX Venture Exchange has accepted for filing a mineral property option agreement dated June 8, 2023, between the company and a non-arm's-length purchaser. Pursuant to the agreement, the company will transfer 100 per cent of its interest in 502 claims located along the Baie Verte Brompton Line property, located in Newfoundland.

The company will receive $62,000 cash, two million common shares and two million common share purchase warrants, and retain a 2.5-per-cent net smelter return (NSR) royalty. The purchaser has the right to purchase 1 per cent of the NSR royalty for $1-million at any time.

For further details, please refer to the company's news releases dated June 8, 2023, Sept. 7, 2023, and Oct. 17, 2023.