The TSX Venture Exchange has accepted for filing a property purchase agreement dated May 23, 2023, between Gitennes Exploration Inc. and several arm's-length parties. Pursuant to the agreement, the company will acquire 197 mineral exploration claims covering approximately 10,500 hectares, located in the Sept-Iles region of Quebec, and 62 mineral exploration claims covering approximately 3,400 hectares, also located in the Sept-Iles region of Quebec. In consideration, the company will issue eight million units to the sellers. Each unit comprises one common share in the capital of the company and one non-transferable share purchase warrant. Each warrant will entitle the holder to acquire one additional common share in the capital of the company at an exercise price of 15 cents for a period of 36 months from the date of issuance.

The company will grant two of the sellers an aggregate 2-per-cent net smelter return (NSR) royalty on the properties, with the company having the option to purchase the 1-per-cent royalty at any time for $1-million.

For further details, please refer to the company's news releases dated May 24, 2023, and June 15, 2023.