On December 6, 2023, Aurum Lake Mining Corporation closed the transaction. The company issued 5,000,000 common shares at an issue price of CAD 0.40 per Common Share for the gross proceeds of CAD 2,000,000 and 240,000 flow-through common shares at an issue price of CAD 0.50 per share for the gross proceeds of CAD 120,000; aggregate gross proceeds of CAD 2,120,000. In connection with the Concurrent Financing, the company has paid aggregate fees to certain arm?s length finders in the amount of CAD 99,000 and issued common share purchase warrants to purchase 247,500 Common Shares at a price of CAD 0.40 per Common Share for a period of 24 months from the date of issuance of the respective Finder?s Warrant.

Completion of the Transaction is subject to a number of conditions including, without limitation, the receipt of all requisite regulatory approvals including the approval of the TSX Venture Exchange and other conditions that are customary for a transaction of this nature.