20. Subsequent Events

The LSA Purchase Agreement (see Note 11 – Commitments and Contingencies) closed on July 1, 2026 (the "Closing Date"). On the Closing Date, the Company paid the $4,064,750 cash consideration and entered into a $10 million secured promissory note. The promissory note bears interest at 5% per annum, compounded monthly and payable annually. Principal repayments of $2,000,000 are due on each of the second and third anniversaries of the Closing Date, with the remaining principal balance due on the fourth anniversary of the Closing Date. The promissory note is secured by real property, mining claims, and other assets acquired.

On July 1, 2026, the Company amended its Credit Agreement pursuant to which the delivery of a total 15,000 hedge contracts maturing between March and June 2027 were eliminated in exchange for (i) an increase of $33,732,426 on the Company's secured credit facility and (ii) the purchase of 15,000 put option contracts with a strike price of $3,100 per ounce and maturities in March and June 2027. As a result of the amendment, the aggregate principal amount outstanding under the secured credit facility increased to $46.3 million.

Principal repayments of the secured credit facility are amended as follows: