The company is deeply disappointed to announce that it was unsuccessful in its bid to reacquire the SITLA OBA for the Blawn Mountain mineral leases. Even though the company’s submission contained substantial financial and commercial development commitments from its proposed joint venture counterparty, SITLA has chosen instead to award the OBA to a large mining entity for precious metal exploration activity. While SITLA was not willing to entertain splitting the mineral rights, they have advised the company and its proposed joint venture counterparty to pursue structuring a mineral rights deal directly with the new OBA holder.