The TSX Venture Exchange has accepted for filing an amendment agreement dated Dec. 19, 2024, between the company and the arm's-length optionors in respect of the option agreement dated Jan. 30, 2020, and as amended on Nov. 27, 2020, Dec. 16, 2022, June 29, 2023, Feb. 1, 2024, and June 30, 2024, regarding the Alwin property, located in the Highland Valley copper camp of British Columbia. The amending agreement provides for the following changes.

By way of consideration, the company will replace $62,500 of the aggregated fourth-year and fifth-year anniversary cash payments by issuing 625,000 common shares at a deemed price of 10 cents due to the optionors on or before Feb. 5, 2025. The company will also reduce the final consideration by one million common shares such that only one million common shares will be issuable to the optionors on or before the earlier of a feasibility study prepared and filed in accordance with National Instrument 43-101, and the eighth anniversary of the exchange's approval of the option agreement.

The amending agreement notes that the GSR (gross smelter return) royalty is cancelled.

For further details, please refer to the company's news release dated Jan. 8, 2025.