Ann: Non-binding term sheet for merger with TSXV Newrange Gold, page-32

A fair comment about Ontario Chicarno88, although it is a big and significant mining state and recently they are proposing to amend the mining laws to speed up the permitting. "The government of Canada’s Ontario province has introduced legislation to amend the Mining Act that will, if passed, attract more investment in the province’s mining sector while strengthening the province’s critical minerals supply chains for batteries and electric vehicles.In 2021, Ontario produced over C$11.1 billion ($8.1bn) worth of minerals, accounting for 20% of Canada’s total mineral production and approximately C$3.1 billion ($2.2bn) worth of critical minerals."

The NRG Red Lake properties are near to the large Springpole deposit which should provide some future upside? Near-ology? Those two properties and listed company looks to be a fair value at ~$3m and with the existing good board, is a great way to get MTH and Copalquin onto TSXV it seems and then a newly branded and focused company. TSX and TSXV are well regulated like ASX , London are they not? Particularly following the Bre-X scandal in the late 90's. It says in the MTH announcement that they have to complete a NI43-101 technical report for Copalquin. These seem to be very detailed reports which are not required for ASX companies, for example. TSX is a securities exchange whereas OTC is over-the-counter - completely different.

I did some research (I like doing research!) on Bob Archer and Great Panther. Great Panther seems to have delisted now. However, BA was a founder and that company used to be multi million market cap and on New York exchange. Looks like he left before Great Panther acquired a gold mine in Brazil. Great panther had silver mines in Mexico.

Announcement says they will raise C$3.6m by private placement but not clear at what price but must be based on the 18.08:1,000 consolidated share value ratio. The NRG announcement on their website says it will be 18 cents Canadian for the private placement which NRG are responsible for it seems, which looks right. I guess there will be more details as this thing progresses and they get firmer dates, ratios etc.

"The non-binding term sheet is conditional upon a number of standard conditions, including completion ofsatisfactory due diligence by each of the parties on each other, the negotiation and execution of a formalScheme Implementation Agreement and the acceptance of the Proposed Merger by Mithril Resourcesshareholders and the TSX Venture Exchange."
That all sounds complicated!