The TSX Venture Exchange has accepted for filing documentation pertaining to a royalty agreement dated April 10, 2024, between the company and Franco-Nevada Corp. (the purchaser), whereby the company will sell to the purchaser a 2-per-cent gross production royalty on all minerals produced from its claims located in the Golden Triangle area for $8.1-million cash (the sale of royalty).

According to the agreement, the purchaser has the option to buy an additional 0.5-per-cent gross production royalty, depending on the company's future decisions regarding construction or project studies on its properties, with the purchase price to be determined in the future. Additionally, the purchaser has also secured a right of first refusal on any new royalty, streaming or similar interest that the company might offer to third parties in the future. These transactions could require prior approval from the exchange once the terms are finalized.

In consideration of advisory services provided, the company will pay $625,000 in cash and issue three million warrants to an arm's-length advisory in relation to the sale of royalty and a private placement. Each advisory warrant is exercisable into one common share of the company at an exercise of 19 cents per common share for two years from issuance.

The transaction is arm's length in nature.

For more details, please refer to the company's news releases dated April 2, 2024, and April 15, 2024.