Leopard Lake Gold Corp. (CNSX:LP) entered into a property acquisition agreement to acquire 4 mining claims in Beauceville and 102 mining claims in the Riseborough and Marlow Townships on December 10, 2021. Pursuant to the Acquisition Agreement, the Company will be required to issue an aggregate of CAD 1,900,000 worth of common shares in the capital of the Company (the "Consideration Shares") and pay an aggregate of CAD 100,000 in cash to the Vendor. The consideration payable to the Vendor by the Company will be made in six (6) separate installment payments, the last payment occurring no later than on March 31, 2024. The per-share price of the Consideration Shares will be established in accordance with the 10-day volume weighted average price of the company’s listed shares prior to each installment payment date and in accordance with applicable regulatory requirements. The closing of the Acquisition will be subject to customary conditions precedent, including receipt of all necessary regulatory and government approvals and the delivery of all closing documents. The Consideration Shares will be subject to a four-month and one day hold period in Canada. Upon commencement of commercial production by the Company, the mining claims acquired pursuant to the Acquisition Agreement will be subject to a 2% net smelter return royalty.