Buchans holds 20,189,117 common shares and 128,464,216 exchangeable warrants of Canterra with an estimated value of $1,917,966 and $12,204,101, respectively, for a total value of approximately $14.1 million, based on the closing price of Canterra’s common shares on December 31, 2023.

Canterra Minerals Corporation is a Canadian resource company focused on critical minerals and gold exploration on the island of Newfoundland. Canterra’s board and management team have over 40 years of experience searching for critical minerals, gold and diamonds in Canada.

In December 2023, Buchans sold its portfolio of critical and precious metals projects in central Newfoundland, in exchange for 24,910,000 common shares and 128,464,216 special warrants of Canterra, with a fair value of $1,868,250 and $9,634,816, respectively for a total value of approximately $11.5 million (equivalent to $0.178 per common share of Buchans), based on the closing price of Canterra’s common shares on December 20, 2023. Buchans intends to distribute at least 80% of the common shares of Canterra underlying the special warrants to shareholders of Buchans.

Buchans holds 33,000,003 shares of Royalties Inc. (CSE: RI), representing an approximate 15.3% interest, valued at approximately $1.32 million, based on a closing price of $0.040 per share of Royalties, as of December 31, 2023.

Royalties Inc. is focused on acquiring cash flow generating royalty opportunities, primarily resource royalties and media entertainment royalties from music, books, film and television for their long term copyright protected streaming revenue.  Royalties Inc. owns a 2% stake in Music Royalties Inc., a Canadian-based private company that acquires passive music royalties from rightsholders (artists, producers and songwriters) which currently holds a portfolio of approximately 26 cash-flowing music royalties and pays a monthly dividend generating a 6% annual yield. Royalties Inc. owns 88% of Minera Portree de Zacatecas, S.A. de C.V, which holds an asserted claim to a 2% net smelter royalty on six mining concessions located adjacent to the Cozamin Mine operated by Capstone Copper Corp. (TSX: CS), which claim is challenged by Capstone.

Royalties Inc. also holds the Bilbao polymetallic sulphide and oxide replacement silver-lead-zinc-copper property, located in the Central Mineral Belt of Mexico, in the southeastern part of the State of Zacatecas, approximately 500 km northwest of Mexico City.

Buchans holds 11,227,879 shares of Minco Exploration PLC, representing an approximate 14.4% interest, with a carrying value of approximately $846,704, as of September 30, 2023.

Minco Exploration holds zinc-lead exploration licences in the Republic of Ireland operated by its wholly owned subsidiaries, either alone or in joint venture with Boliden Tara Mines. Minco is participating at 20% in a joint venture with Boliden Tara Mines at 80% on Licence 1440R, which lies immediately adjacent to Boliden’s large 130 million tonnes Tara zinc-lead mine at Navan.

Minco Exploration is also participating in a joint venture with Boliden Tara Mines on Licence 3373, contiguous to the west with Licence 1440R, where Minco Exploration can earn up to a 75% interest, and in a joint venture with Boliden Tara Mines on a block of Prospecting Licences in County Galway where Minco Exploration can earn up to a 50% interest. Minco Exploration also holds two prospecting licences at Moate, County Westmeath.