The TSX Venture Exchange has accepted for filing documentation the asset purchase agreement dated June 19, 2023, and the amendment agreement dated July 7, 2023, between the company and an arm's-length party. Pursuant to the terms of the agreement, the company has acquired from the vendor 100 per cent of the right, title and interest in 40 mineral claims comprising the Copperview project in South British Columbia. As consideration for the acquisition, the company has paid to the vendor $5,000 cash and issued 600,000 common shares of the company at a deemed price of 21 cents per share. The company also granted the vendor: (i) a 2-per-cent net smelter return royalty over 37 of the 40 claims of the project; and (ii) a 1-per-cent net smelter return royalty over three of the 40 claims of the project. One-half of the NSR may be bought back from the vendor for $3-million in cash (being a 1-per-cent NSR of the 2-per-cent NSR and a 0.5-per-cent NSR of the 1-per-cent NSR).

This acquisition is considered an arm's-length transaction.

For further information, please refer to the company's news releases dated June 20, 2023, and July 18, 2023.