Material terms and conditions of the Option Agreement are disclosed in the
The Amendment concerns a number of claims (the 'Disputed Claims') totaling approximately 800 acres in the northeastern part of the M3M Property. The Company has become aware of a dispute regarding ownership of the Disputed Claims.
The Amendment provides that the Option Agreement continues to be of full force and effect with the Company being obligated to defend title to the Disputed Claims and pay costs associated with the defense.
The Company has been advised that Surge does not view the Disputed Claims as material to the M3M Property.
Surge has advised the Company that it does not view the Disputed Claims as material to the M3M Property as they are in the northeastern part and cover unfavourable Paleozoic sediments on the east and a rhyolite flow-dome complex on the west.
The Option Agreement and the Amendment are subject to the approval of the
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