The TSX Venture Exchange has accepted for filing an option agreement dated June 26, 2019, and amended July 19, 2019, Oct. 31, 2019, Nov. 15, 2019, Nov. 29, 2019, Dec. 6, 2019, Dec. 13, 2019, and Dec. 20, 2019, between Fura Gems Inc. and Richland Resources Ltd. (the vendor), whereby the company has acquired: (i) all of the issued and outstanding shares of the vendor's wholly owned subsidiary, Richland Corporate Ltd.; and (ii) the vendor's unsecured interest-free shareholder loans to Richland Corporate, and thereby a 100-per-cent interest in and to Capricorn Sapphire Pty. Ltd., which holds 100-per-cent interests in two exploration mining permits (EPM 25973 and EPM 25978) and three mining licences (ML 70419, ML 70447 and ML 70451) for a sapphire mining project located in Queensland, Australia. Consideration is $1.25-million (U.S.) and $25,000 (Canadian) cash.

For further information, please refer to the company's news releases dated June 27, 2019, July 22, 2019, Oct. 31, 2019, Nov. 15, 2019, Nov. 29, 2019, Dec. 6, 2019, Dec. 16, 2019, Dec. 20, 2019, and Dec. 31, 2019.