The TSX Venture Exchange has accepted for filing documentation pertaining to an option agreement dated July 26, 2019, between Pistol Bay Mining Inc. and Northbound Capital Inc. (Blair Naughty and Eric Sprott), pursuant to which the company may acquire a 100-per-cent interest in 104 mining cells, covering approximately 5,264 acres in the Cabin Bay township, Red Lake mining district, Ontario, known as Pakwash South property. In consideration, the company will make cash payments totalling $82,500 and issue a total of three million shares over a three-year period, as follows:

• Upon approval, $15,000 cash and 500,000 shares;
• Year 1, $17,500 cash and 500,000 shares;
• Year 2, $20,000 cash and one million shares;
• Year 3, $30,000 cash and one million shares.

The option is subject to a 2-per-cent net smelter return royalty, of which 1 per cent may be purchased at any time for $1-million.