The TSX Venture Exchange has accepted for filing documentation the amendment No. 1 to the mineral property option agreement dated Jan. 12, 2024, between the company and two arm's-length parties. Pursuant to the terms of the amended agreement, the existing work expenditure due date from the original option agreement has been amended by extending the period of the work expenditures to be completed within from two years to four years and by adding an additional $500,000 in work expenditures to be completed by the end of the fourth year. In consideration of the amendment, the company and the vendors have agreed to amend the terms of the existing option agreement, whereby the outstanding consideration of $100,000 cash and the issuance of 900,000 common shares of the company will be replaced with the issuance of 20 million shares at a deemed price of one cent per share.

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

For further information, please refer to the company's news releases dated Jan. 15, 2024, and Jan. 26, 2024.