The TSX Venture Exchange has accepted for filing documentation the share purchase and option agreement dated Feb. 24, 2025, between the issuer and an arm's-length party to the issuer. Pursuant to the terms of agreement, the issuer has granted to the optionee an option to purchase all of the issued and outstanding shares of certain subsidiaries of the issuer, which own the Rozino mine development project, located in the Ivaylovgrad municipality of Bulgaria, including the licences, tenures, applications and rights associated with certain mineral assets.

In consideration for the purchase and sale, the optionee will remit to the issuer a cash payment of $16.5-million (U.S.) as an initial non-refundable payment upon closing for a 70-per-cent interest in the assets. An additional cash payment of $38.5-million (U.S.) may be made from the optionee to the issuer before the 18-month anniversary of the closing date to purchase the remaining 30-per-cent interest in the assets. If the second tranche payment is paid on or before the 12-month anniversary from the closing date, then the second tranche payment will be reduced by $1.5-million (U.S.).

A third party arm's-length company holding a 30-per-cent interest in the project agreed to sell its 30-per-cent interest in the project to the optionee in consideration of a cash payment of $16.5-million (U.S.), to be paid concurrently with the second tranche payment at closing. The issuer has arranged a standby letter of credit to secure the issuer's obligations in the transaction. In the event that the transaction is not completed, under certain circumstances, the minority project holder will be entitled to receive 30 per cent of the net amounts paid by the optionee to the issuer.

For further information, please reference the issuer's news releases dated Oct. 1, 2024, Nov. 29, 2024, Dec. 17, 2024, Feb. 28, 2025, April 16, 2025, and June 9, 2025.