Jean Boulle Diamond Mines Ltd. entered into an agreement to acquire Namibian diamond assets from Diamond Fields Resources Inc. (TSXV:DFR) for $1.4 million on November 28, 2022. As consideration for the sale of the Namibian Concessions, DFR is entitled to receive initial cash consideration in the amount of $150,000, annual cash payments in the amount of $100,000, and a 1% royalty of net sales from the Namibian Concessions, after allowing for selling related costs. The Annual Payment (as to $90,000 for ML111, $5,000 each for ML139 and ML32) will cover the period beginning on September 1, 2023.

And end upon the earlier of: (i) JBDM no longer holding the relevant License or (ii) September 1, 2035. Closing of the transaction is subject to approval by the TSX Venture Exchange and any other required approvals. As on February 9, 2023, the Transaction received shareholder approval by written consent whereby disinterested shareholders holding approximately 70% of the Company's outstanding voting common shares approved the Transaction, and final approval from the TSX Venture Exchange .