Teako Minerals Corp. announced that it has entered into a purchase agreement dated July 18, 2023 (the "Agreement") with Cuprita Minerals Inc. ("Cuprita"), pursuant to which Teako is acquiring a 100% interest in the Yellow Moose project (the "Property" or "Yellow Moose"), British Columbia, Canada. The Property is an advanced-stage project measuring 154 km2 with extensive geological, geochemical and geophysical survey coverage defining a greater than fifteen km length of a low-sulphidation epithermal gold trend with permitted drill-ready targets.

Under the terms of the Agreement, Teako will acquire a 100% interest in the Property from Cuprita, in consideration for: The issuance of 3,500,000 shares of the Company to Cuprita; Cuprita retains a 2% Net Smelter Return ("NSR"); and Teako can buy back 1% of the NSR, thus reducing the NSR to 1%, for a price of CAD 1,000,000.