Ann: Early Exploration Agreement, Maiden Drill Program Commenced, page-17

How do you interpret that GT1 had its Early Exploration Agreement cancelled from what GT1 published?

BM8's Early Exploration Agreement contains a 3-month written notice whereby Whitesand FN can cancel the notice. If GT1's Early Exploration agreement contained a similar cancellation clause, GT1 would have had a 3 months notice period before the agreement ended rather than immediate stop. If they had received a cancellation notice, GT1 would have been misleading to investors if they didn't state that they had received a written termination notice.

IMO a better explanation is that the agreement they have with Whitesand FN contains a strong Negotiation / consultation clauses. In consulting with Whitesand FN and respecting their wishes, GT1 stopped drilling while the underlying exploration agreement remains in place. At some point Whitesand FN and GT1 discussions/negotiations will agree to recommencement of drilling. GT1 respecting Whitesand FN wishes would if anything strengthen rather than weaken their relationship. I do however accept that GT1 need to reach agreement around T&C's for development of a mine and the absence of an ASX notice around this means its still an ongoing process.

Anyway good luck with the drilling as the more Spod found in this area of Ontario, the better for all concerned.