The TSX Venture Exchange has accepted for filing documentation the property purchase and sale agreement dated May 29, 2023. Pursuant to the terms of the agreement, the company has acquired an undivided 100-per-cent interest in 20 mineral claims located in Nordica township in Ontario, from an arm's-length party. In consideration the acquisition, the company has issued to the vendor 300,000 common shares of the company at a deemed price of 11 cents per share.

The property, including all existing claims contiguous to or within the area of interest, is subject to a 2.0-per-cent net smelter return (NSR) royalty. Other claims that are later acquired by the company that are contiguous to the area of interest are also subject to the NSR royalty. The company has the right to repurchase a 0.8-per-cent NSR royalty at any time for a $2.5-million cash payment.

For further details, please refer to the company's news releases dated May 10, 2023, and June 28, 2023.