Aurum Lake signs option to acquire Band-ore property

Mr. Patrick Sapphire reports AURUM LAKE MINING ENTERS INTO AN OPTION AGREEMENT WITH LIPARI MINING LTD. Aurum Lake Mining Corp. has entered into an option agreement dated Nov. 17, 2025, with Lipari Mining Ltd. (the optionor) to acquire the exclusive option to earn a 100-per-cent interest in the Band-ore property. The 10-kilometre-long property covers approximately 2,115 hectares, and comprises 16 patented mining claims, one mining claim lease and 109 staked mining claims in Hagey and Conacher townships of Ontario. Pursuant to the terms of the option agreement, in order to exercise the option, Aurum is required to: (A) pay $50,000 in cash to the optionor on the effective date of the option agreement, and an additional $50,000 in cash on or before each of the first, second, third and fourth anniversaries of the effective date; (B) at its sole discretion, either pay $50,000 in cash or issue 400,000 common shares in its capital to the optionor on the date that is six months from the effective date, and either pay $50,000 in cash or issue 400,000 common shares in its capital to the optionor on or before each of the first, second, third and fourth anniversaries of the initial share issuance date; and (C) pay $1.5-million in cash to the optionor on or before the date that is the fifth anniversary of the effective date. Upon exercise of the option by Aurum, the optionor will be entitled to 2-per-cent net smelter royalty (the optionor NSR) in accordance with the terms of the option agreement. Aurum has the option to purchase one-half of the optionor NSR by making a cash payment to the optionor in the amount of $3-million indexed (escalated) based on the Canada Consumer Price Index from the effective date to the purchase date. In addition, Aurum will have a right of first refusal with respect to the optionor's remaining 1 per cent of the optionor NSR. In the event that a National Instrument 43-101-compliant mineral resource is declared for the property, the optionor will be entitled to receive $500,000 upon the declaration of a mineral resource containing 500,000 or more ounces of gold and an additional $500,000 upon the declaration of a mineral resource containing one million or more ounces of gold. All such cash payments will be indexed (escalated) in accordance with the Canada Consumer Price Index (CPI) from the effective date to the date of the mineral resource declaration. Wes Roberts, a director of Aurum, also serves as vice-president of business development of the optionor. As a result, the optionor is considered a non-arms'-length party of the issuer pursuant to the policies of the TSX Venture Exchange. The option agreement remains subject to approval by the TSX-V. About Aurum Lake Mining Corp. Aurum Lake Mining is a Tier 2 mining issuer pursuant to the policies of the TSX-V. Aurum's current principal business is the development and exploration of the Homathko property, located in the Cariboo region of British Columbia, approximately 57 kilometres south of the community of Tatla Lake which lies 222 km west of Williams Lake. Aurum expects that it will continue to evaluate and acquire additional resource projects in other jurisdictions with low to moderate local political risk. We seek Safe Harbor.