The TSX Venture Exchange has accepted for filing documentation pertaining to an option agreement dated Oct. 28, 2024, between the company and Evergold Corp., whereby the optionor has granted an option to the company to earn up to a 75-per-cent interest in certain mining claims located in Lyon county, Nevada, known as the Rockland gold-silver property.

According to the agreement, the company is required to spend 1,175,000 (U.S.) in exploration expenditures by Dec. 31, 2025, and make up to $600,000 (U.S.) in cash payments by March 1, 2028, to earn a 51-per-cent interest in the property.

Upon completing the first stage, the company has the option to acquire an additional 24-per-cent interest to increase its ownership to 75 per cent by completing a prefeasibility study on or before the eighth anniversary date. Upon the completion of the second stage, a joint venture (JV) is formed, with the company holding a 75-per-cent interest and the optionor 25 per cent. If the company fails to complete a prefeasibility study prior to the eighth anniversary date, the company will retain only its 51-per-cent earned interest under a JV and forfeit any further right to earn an additional 24-per-cent interest, unless through a joint venture dilution.

If the company chooses not to enter into the second stage, a JV will be formed, with the company holding a 51-per-cent interest and the optionor 49 per cent. The company will be the initial operator.

Once a JV is formed, if the optionor's interest is diluted to 20 per cent or less, its interest will be converted to a 2-per-cent net smelter return (NSR), with an option for the company to purchase up to a 1.5-per-cent NSR for $2.25-million.

The transaction is arm's length in nature and no finders' fees are payable.

For further information, please refer to the company's news releases dated Oct. 29, 2024, Feb. 25, 2025, June 3, 2025, and Aug. 8, 2025.