The TSX Venture Exchange has accepted for filing a property option agreement dated Oct. 23, 2026, with respect to the arm's-length acquisition of approximately 240 acres in Houghton county, Michigan. The agreement provides the following consideration.

Consideration:  $235,000 (U.S.) cash and up to 512,700 common shares at a deemed price of not less than c$0.61 per share $235,000 (U.S.) cash and up to 512,700 common shares at a deemed price of not less than c$0.61 per share

The property is subject to a 3-per-cent net smelter return (NSR) royalty in favour of the cptionor, of which a 1.5-per-cent royalty can be repurchased by the company for a one-time cash payment of $1-million (U.S.) prior to completing a preliminary economic assessment, or a one-time cash payment of $2-million after a preliminary economic assessment but prior to a production or construction decision.

For further details, please refer to the company's news release dated Oct. 28, 2026.