The TSX Venture Exchange has accepted for filing a purchase and sale agreement dated Oct. 8, 2025, between the company and an arm's-length vendor. Pursuant to the terms of the agreement, the company may acquire an exploration licence in the Carajas mineral province in northern Brazil. By way of consideration, the company will issue 199,627 common shares of the company at a deemed price of $1.8785 per share. A success fee is payable under the agreement to which the company has reserved a total of five million common shares of the company for future issuance at a deemed price based on a 30-day VWAP (volume-weighted average price) and subject to a minimum floor price of $2. The property is subject to a 1-per-cent NSR (net smelter return) royalty in favour of the vendor.

No finder's fee was payable as part of the transaction.

For further details, please refer to the company's news release dated Oct. 14, 2025.