The TSX Venture Exchange has accepted for filing an amended and restated purchase agreement dated Dec. 18, 2025, among K2 Gold Corp., the company's wholly owned subsidiary, K2 Gold (USA) Inc., Orogen Royalties Inc., and Genex Exploration Inc., a wholly owned subsidiary of Orogen. Pursuant to the terms of the agreement, the company has acquired Orogen's 100-per-cent interest in 65 unpatented lode mining claims located in Esmeralda county, Nevada, known as the EL claims. This agreement effectively supersedes and terminates the Elba option agreement dated Jan. 18, 2022, between the company and Renaissance Exploration Inc., a predecessor to Orogen.

According to the agreement, consideration for the acquisition consists of 1.85 million common shares of the company issued to Orogen at a deemed price of 13.5 cents per share for a total deemed value of $250,000. Additionally, the transaction consolidates the wider Si2 gold project by including 53 contiguous SI lode mining claims located within the designated area of interest. Genex retains a 2.0-per-cent net smelter return (NSR) royalty on the entirety of the company's Si2 gold project, covering both the 65 EL claims and the 53 contiguous SI lode mining claims staked by the company, and located within the designated area of interest. The transaction is arm's length in nature and no finder's fee is payable.

For more information, please refer to the company's news releases dated Jan. 16, 2025, Dec. 22, 2025, and Jan. 29, 2026.