Great Bear Resources Ltd. acquired Certain unpatented mining claims located in the Kenora District of Ontario from BTU Metals Corp. (TSXV : BTU) for CAD 1.55 million on February 22, 2023. The consideration payable by GBR pursuant to the Acquisition is: (i) CAD 1,550,000 in cash, with CAD 1,250,000 due immediately on closing and an additional CAD 300,000 due on the one-year anniversary of the closing date. GBR issued to the BTU a variable 1.5% - 2.5% NSR royalty on the Acquisition Properties. BTU will maintain any existing third-party royalty buy-back rights in respect of the Acquisition Properties.

Great Bear Resources Ltd. completed the acquisition of Certain unpatented mining claims located in the Kenora District of Ontario from BTU Metals Corp. (TSXV : BTU) on February 22, 2023.