COMMITMENTS

6 Months Ended

Jun. 30, 2025

COMMITMENTS

11. COMMITMENTS

The Company executed an introductory agent agreement with BMR (the “BMR Agreement”). Under the BMR Agreement, should a mineral property recommended by BMR be acquired by the Company, the Company shall pay an introductory agent fee as follows:


Within 15 days of acquisition		$	5,000
6 months after acquisition		$	5,000
12 months after acquisition		$	5,000
18 months after acquisition		$	5,000
24 months after acquisition		$	7,500
30 months after acquisition		$	7,500
36 months after acquisition		$	10,000
42 months after acquisition		$	10,000
48 months after acquisition and every six months thereafter		$	15,000

If commercial production is achieved on a property recommended by BMR, the Company shall pay a 0.5% net smelter return royalty on all mineral interests acquired within the area of influence of the mineral property. Introductory agent fees and net smelter return royalty payments totaling $1,000,000 paid by the Company will reduce the net smelter return royalty by 50% to 0.25%.

As at June 30, 2025, the BMR Agreement is not in effect for any of the Company’s mineral projects.