The TSX Venture Exchange has accepted for filing documentation the asset purchase agreement, dated Jan. 21, 2025, between the company and an arm's-length party. Pursuant to the terms of the agreement, the company has acquired 111 mineral claims comprising the Spark North lithium project in Elko county, Nevada.

As consideration for the acquisition, the company has paid to the vendor a total of $250,000 cash and issued five million common shares of the company at a deemed price of six cents per share. The vendor retains a 1.5-per-cent net smelter return (NSR) royalty, of which the company has the option to repurchase half of the NSR for a cash payment of $1-million.

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

For further information, please refer to the company's news releases dated Dec. 5, 2024, Jan. 28, 2025, and March 14, 2025.