Root Lake Option and Joint Venture Agreement

On December 2, 2022, the Corporation signed an exclusivity agreement with Fifty St  George Pty Ltd. (“FSG”) granting FSG the exclusive opportunity to acquire a 90% interest in the Root Lake mineral exploration claims in northwestern Ontario. The Root Lake property is comprised of 94 contiguous cell claims (1,927 hectares) approximately 100 kilometers north of Sioux Lookout near the west end of Lake St. Joseph, a prospective lithium project.

The Corporation received an exclusivity fee of $125,000 for granting FSG the exclusive right for a period of six months (the “Exclusivity Period”) to complete its technical and legal due diligence investigations and to finalize the binding terms and conditions of an agreement (the “Option Agreement”). For the duration of the Exclusivity Period, Rockex agreed to deal exclusively with FSG and to cooperate with FSG in connection with its due diligence investigations. In May, 2023, the Corporation agreed to a three-month extension to the Exclusivity Period and received an extension fee of $80,000.

In July 2024, Pioneer announced that it signed an early exploration agreement with Slate Falls First Nation enabling Pioneer to finalize, implement and continue its summer field work campaigns at the Root Lake Project.