The TSX Venture Exchange has accepted for filing documentation with respect to an arm's-length option agreement dated May 28, 2025. Pursuant to the terms of the agreement, the company may acquire a 100-per-cent interest in the Trench oxide gold project, located near the town of Carlin in Nevada. The company will pay the optionor an initial payment of 250,000 common shares and $650,000 over a five-year period, along with $500,000 in exploration expenditures before the fifth anniversary of the agreement. The company will also make project milestones payments, payable in cash or up to 50 per cent in common shares, totalling $1.75-million. A maximum of 8,577,459 additional common shares of the company may be issued to satisfy the milestone payments. The company will provide $50,000 annual royalty payments to the optionor up to the commencement of commercial production. In addition, the agreement provides the optionor with a 3.0-per-cent net smelter return (NSR) royalty. The company will have the option to reduce the NSR by paying $1.5-million prior to the third anniversary of commercial production for a 0.5-per-cent decrease and $2-million any time thereafter for a remaining 0.5-per-cent decrease.

For further details, please refer to the company's news release dated May 29, 2025.