The TSX Venture Exchange has accepted for filing an agreement dated Aug. 21, 2023, between the company and two arm's-length parties. Pursuant to the terms of the agreement, the company may acquire the optionors' 100-per-cent interest in certain mining claims known as the Purdom project.

By way of consideration, the company will pay $21,000 in cash and make additional cash payments totalling up to $89,000 and will issue 300,000 shares.

The claim is subject to a 1.5-per-cent net smelter return (NSR) royalty in favour of the optionors. The company may reduce the rate of the NSR from 1.5 per cent to 0.75 per cent in consideration for a payment of $900,000 any time after exercise of the option and prior to the commencement of commercial production on the claims.

For further details, please refer to the company's news releases dated Aug. 22, 2023.