The TSX Venture Exchange has accepted for filing documentation with respect to the arm's-length option agreement (as amended) between Churchill Resources Inc. and an arms-length party (the optionor). Pursuant to the agreement, the company will have the option to acquire a 100-per-cent interest four mining claims located at Taylor Brook nickel property, Newfoundland.

In order to exercise its option, the company must pay the optionor: (i) an aggregate of $90,000 in cash; and (ii) issue of up to 350,000 common shares over a three-year period. Additionally, the company at its sole discretion has an option to pay up to $30,000 of the cash consideration in common shares of the company, for an additional maximum issuance of 315,789 common shares.

Further, on exercise of the exercise, the optionor will retain a 2-per-cent net smelter royalty (NSR) on the properties, of which 1-per-cent NSR can be bought back by the company for $1-million.

For further details, please refer to the company's news release dated Sept. 16, 2024.