Gold Tree Resources Ltd. (CNSX:GTX) entered into a binding a letter of intent to acquire 1314836 BC Ltd. on June 23, 2022. Gold Tree would acquire all of the issued and outstanding securities of 1214836 BC by way of a share exchange agreement. Gold Tree Resources has issued an aggregate of 3,000,000 common shares to the shareholders of BCCo at a deemed price per Consideration Share of CAD 0.20, representing aggregate consideration of CAD 600,000.1314836 BC's principal asset and undertaking is its wholly owned subsidiary Lithium Valley Holdings Corp., which owns the McDermitt Lithium Property located in Nevada, USA.

Pursuant to the Proposed Transaction, Gold Tree will issue common shares in its capital to the holders of common shares in the capital of 1314836 BC at a deemed price per Consideration Share issued with the maximum discount to market that is allowed pursuant to the policies of the Canadian Securities Exchange. The Proposed Transaction is subject to receipt of all necessary regulatory approvals, including, as applicable, approval of the CSE, completion of due diligence reasonable or customary in a transaction of a similar nature, and entering into a definitive agreement, approval of the Transaction by the shareholders of the Purchaser, among other conditions. The transaction is expected to complete within 30 days of LOI.

The transaction is expected to complete on 27 July 2022.