The TSX Venture Exchange has accepted for filing a property option agreement dated Dec. 18, 2023, between Highbank Resources Ltd. and arm's-length parties. Pursuant to the terms of the agreement, the company may acquire a 100-per-cent interest in the Terra Nova property, located 30 kilometres northwest of Port Blandford in central Newfoundland. By way of consideration, the company will make a cash payment of $15,000 and will issue a total of 500,000 shares to the vendors. The property is subject to a 2-per-cent net smelter return (NSR) royalty in favour of the vendors; the company has the option to buy half of the NSR (a 1-per-cent royalty) in consideration for $1-million paid to the vendors.

For further details, please refer to the company's news release dated Dec. 18, 2023.