Non-brokered private placement

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on April 18, 2023, and clarified on April 28, 2023.

Number of shares:  4,255,319 charity flow-through (CFT) shares

Purchase price:  47 cents per CFT share

Warrants:  2,127,659 share purchase warrants to purchase 2,127,659 shares

Warrant exercise price:  47 cents for a three-year period

Number of placees:  eight placees

Finder's fee:  $120,000 and 255,319 warrants

Finder's warrant terms:  Each warrant entitles the holder to purchase one common share at the price of 35 cents for period of two years from the date of issuance.

The company issued a news release on May 26, 2023, confirming the closing of the private placement. Note that in certain circumstances the exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.