The TSX Venture Exchange has accepted for filing documentation pertaining to a purchase and sale agreement dated Nov. 12, 2025, between the company and three individual arm's-length vendors, whereby the company has acquired two licences located in Newfoundland, Canada. The total purchase price consists of a cash payment of $15,000 and an aggregate of 100,000 common shares of the company to be issued to the vendors at a deemed price of 18 cents per share.

The vendors will retain a 2-per-cent net smelter return (NSR) royalty over the licences and the company may reduce the NSR royalty by making a one-time buyback payment of $1.5-million, which will reduce the NSR from 2.0 per cent to 1.0 per cent.

The transaction is arm's length in nature and no finder's fee is payable.

For more information, please refer to the company's news release dated Nov. 13, 2025.