The TSX Venture Exchange has accepted for filing documentation the option agreement dated Aug. 31, 2023, between the company and a non-arm's-length party. Pursuant to the terms of agreement, the optionor will grant the company the option to acquire up to a 20-per-cent interest in the optionor's 50-per-cent interest in the Eldorado option in consideration of cash and eligible exploration expenditures according to the following earn-in schedule:

• An 8-per-cent interest by Dec. 31, 2023: $50,000 cash, plus a minimum of $600,000 of expenditures;
• An aggregate 12-per-cent interest by Dec. 31, 2023: an aggregate of $900,000 of expenditures;
• An aggregate 16-per-cent interest by Dec. 31, 2023: an aggregate of $1.2-million of expenditures;
• An aggregate 20-per-cent interest by Dec. 31, 2023: an aggregate of $1.5-million of expenditures.

The optionor will have the right to request that the expenditures be filed as assessment work with the applicable government registry to maintain the property in good standing.

For further details, please refer to the company's news releases dated Oct. 6, 2023, and Nov. 20, 2023.