The TSX Venture Exchange has accepted for filing documentation with respect to the termination agreement of outstanding debt and other related acquisition liabilities with a non-arm's-length party related to the acquisition of the Gabbs project. This will remove all the company's acquisition liabilities owing to the vendor associated with the property.

Consideration:  $1-million (U.S.) and 5,231,869 common shares

The company will also issue an unsecured non-interest-bearing promissory note that totals $250,000 (U.S.), with $125,000 (U.S.) payable on or before Jan. 31, 2025, and $125,000 (U.S.) payable on or before Jan. 31, 2026. The shares were issued at a deemed price of seven cents per share.

No finders' fees are payable. The property is still subject to a 2.0-per-cent net smelter return (NSR) royalty on production, which can be repurchased with certain payments.

For further details, please refer to the company's news releases dated Feb. 13, 2024, and March 5, 2024.