The TSX Venture Exchange has accepted for filing documentation pertaining to a share purchase agreement dated Oct. 23, 2025, among the company, Aquiline Resources Inc. and Pan American Silver Corp. The company has acquired from Aquiline and Pan American all of the issued and outstanding shares in the capital of Minera Calipuy S.A.C. (Calipuy), which owns the Pico Machay project in central Peru.

Pursuant to the terms of the agreement, the company has paid to Aquiline and Pan American $500,000 (U.S.) in cash at closing, and will pay $14.5-million (U.S.) in deferred cash payments and $2.5-million (U.S.) in contingent cash payment based on certain mineral resource/mineral reserve metrics as set out in the agreement in order to complete the acquisition of Calipuy. The deferred consideration will be evidenced by a secured and non-convertible promissory note, and secured by a first-priority share pledge over 100 per cent of the shares of the Calipuy and a first-priority mortgage over the Pico Machay project.

The Pico Machay property is subject to an existing 1-per-cent net smelter return (NSR) royalty.

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

For more information, please refer to the company's news releases dated Oct. 24, 2025, Oct. 28, 2025, and Dec. 24, 2025.