The TSX Venture Exchange has accepted for filing the company's acquisition of all of the issued and outstanding shares of a wholly owned subsidiary of an arm's-length party, pursuant to an agreement to suspend enforcement proceedings agreement, dated March 6, 2025, between the company, the subsidiary and the vendor. The subsidiary is the 100-per-cent owner of a fully permitted for construction gold project, located 140 kilometres east of the capital Zacatecas in the state of Zacatecas, Mexico, which consists of 30 mining concessions.

Pursuant to the terms of the agreement, the company will issue 716,667 shares to the vendor and pay in aggregate $178,000 (U.S.) to complete the acquisition of the subsidiary. The company will also suspend enforcement proceedings relating to the vendor's default under a loan facility dated June 24, 2020, which was later acquired by the company, and settle the approximately $2,638,956 (U.S.) principal and interest owed as of Dec. 31, 2024, on the loan facility.

For further details, please refer to the company's news releases dated March 8, 2025, and July 3, 2025.