The TSX Venture Exchange has accepted for filing documentation in relation to a property option agreement dated Jan. 7, 2021, between the company and Alex McMillan (the owner). Pursuant to the agreement, the company has the option to earn a 100-per-cent interest in 78 claims, comprising 15.7 square kilometres located south of the company's existing optioned claims. As consideration, the company will pay an aggregate of $134,000 cash over a five-year period and issue 117,300 common shares within 10 days of the date of approval of the agreement by the exchange. The company shall also incur exploration expenses of at least $35,000 on or before the first anniversary date of the execution of the agreement and agreed to pay the owner a 2-per-cent net smelter return (NSR) royalty on production from the claims, of which 1.5 per cent may be bought back in increments of $500,000 for each 0.5 per cent of the NSR.

For further information, please see the company's news release dated Jan. 14, 2021.