Kainantu Resources Ltd. (TSXV:KRL) entered into an agreement to acquire 90% stake in May River Project from Niuminco Nd Limited for AUD 0.5 million on June 15, 2021. Under the terms, Kainantu Resources Ltd. will pay AUD 0.25 million in cash and issue shares equal to AUD 0.25 million. In a related party transaction, Kainantu Resources Ltd entered into definitive option agreement to acquire May River Project from Hardrock Limited. The transaction is subject to Kainantu Resources completing corporate and project level due diligence, good standing of EL2527, receipt of all necessary regulatory and third-party approvals, including approval of the TSXV, if necessary and such other terms as are customary for transactions of this nature. The transaction is expected to close on August 31, 2021. The transaction is expected to close on October 31, 2021. As of November 29, 2021, Kainantu Resources Ltd. granted Niuminco Limited an extension to December 31, 2021 to satisfy the conditions
under the agreement.

Kainantu Resources Ltd. (TSXV:KRL) completed the acquisition of 90% stake in May River Project from Niuminco Nd Limited on April 3, 2023.