Acquisition transaction

The TSX Venture Exchange has accepted for filing documentation with respect to the non-arm's-length acquisition of a 100-per-cent interest in three projects, being the Florin gold project, the FLR gold project and the RJ gold project. The properties are contiguous projects located within the Tombstone gold belt in Yukon, Canada, and consist of a total of 1,687 mineral claims. Pursuant to the terms of the agreement, the company will issue an aggregate of 43,636,363 shares to the vendors and pay up to $10-million (of which $5-million is due upfront and $5-million can be payable over two years, subject to an acceleration). In favour of the vendors, the properties are each subject to 3.0-per-cent net smelter return (NSR) royalties and an additional 1.0-per-cetn NSR on encumbered claims under the Florin gold project, which are subject to certain buyback provisions to a minimum of 1.0-per-cetn NSR and 0.5-per-cent NSR, respectively. The company will be assuming a pre-existing 2.0-per-cent NSR on encumbered claims, subject to buyback provisions to a minimum NSR of 0.5 per cent, under the Florin gold project. The properties will also be each subject to certain annual advance royalty payments and bonus milestone payments.

No finder's fee was paid for the acquisition.

For further details, please refer to the company's news releases dated March 3, 2026, April 1, 2026, April 30, 2026, and May 4, 2026.