Snowy Owl Gold Corp. (CNSX:SNOW) entered into a property purchase and sale agreement to acquire Riviere Lois Prospect from Val-d'Or Mining Corporation (TSXV:VZZ) for CAD 0.38 million on October 7, 2021. In consideration for a 100% interest in the Riviere Lois Prospect, SnowyOwl will issue 3,200,000 million common shares to Val-d'Or Mining (of which Golden Valley Mines & Royalties will receive 640,000 common shares in accordance with the terms of an amended and restated option agreement between Val-d'Or Mining and Golden Valley dated November 28, 2019). The 3,200,000 common shares will be issued at a price per share of CAD 0.09, which is equal to the closing price of the SnowyOwl common shares on the CSE on October 6, 2021. In addition, Val-d'Or Mining will receive CAD 80,000 in cash and will complete a geophysical exploration program, which is currently underway on the Riviere Lois Prospecy. Val-d'Or Mining will be granted a royalty of 2.5% of the net smelter returns from the property, which is vended under the agreement, whereby 1% of the net smelter return maybe purchased by the company for CAD 500,000. The transaction is subject to the approval of the Canadian Securities Exchange.

Snowy Owl Gold Corp. (CNSX:SNOW) cancelled the acquisition of Riviere Lois Prospect from Val-d'Or Mining Corporation (TSXV:VZZ) on May 31, 2022.