The Converse project is currently owned by Patriot Gold Vault, a wholly-owned subsidiary of Axcap Ventures Inc. (CNSX:AXCP). Under the terms of the royalty agreement, a 1% NSR royalty on the Converse project is payable to Versamet on a quarterly basis from the minerals produced from the property.

The Converse project is located in the Battle Mountain Gold Belt, Nevada, USA. Converse is a large low-grade gold deposit in close proximity to other operating mines and regional infrastructure.

An updated NI 43-101 Technical Report completed in 2024 outlined a Measured & Indicated mineral resource of 5.17 Moz Au contained in 263 Mt of ore at 0.61 g/t Au and an Inferred mineral resource of 0.55 Moz Au contained in 26 Mt of ore at 0.65 g/t Au. The technical report has an effective date of November 15, 2024 and can be found under the Axcap Ventures Inc. SEDAR+ profile on www.sedarplus.ca